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Eric Flaten

AIF®, CExP™
Retirement, Investing, Small Business
81%
Helpful
26
Answers
4
Articles
5
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“With over 25 years of experience in the financial industry, Eric Flaten provides his clients with real-time access to all their investment accounts (on any device, at any time) and help simplify their financial world.”
Firm:

ePERSONAL FINANCIAL

Job Title:

Founder

Biography:

As the founder of ePERSONAL FINANCIAL, Eric helps his clients take control of their finances through technology and advice. Eric has always been interested in the financial world, and over the past 28 years, he has been involved in every facet of wealth management. This includes, retirement, family business succession, and insurance planning.

Unlike traditional firms, Eric and his team have transformed wealth management into a solution that is truly built with their clients in mind. No longer do clients have to meet with a suit-clad advisor in a stuffy office. Instead, they can take control of their financial future, monitor their investments, and harness current technology in the comfort of their own home.

Eric graduated from Washington State University with a degree in Business Administration with specializations in Accounting and Finance. In addition, he holds his Accredited Investment Fiduciary® and Certified Exit Planning® designations. Eric has a thirst for continuing education and holding himself to a high standard of ethics.

 Throughout his career, Eric has managed to find balance among his professional and personal life. Eric enjoys spending time with his life partner, Sherrie, and being a father to his young adult daughters, Kayla and Brooke. As a Washington native, Eric takes every opportunity to get outside. He is an avid cyclist, has taken up stand up paddle boarding, and enjoys snow skiing and training his Australian Labradoodle puppy, Blake.

Education:

BA, Business Administration, Washington State University

Insurance License:

#155236

Disclaimer:

Eric Flaten is an advisor representative of Sowell Management Services, which does business as ePERSONAL FINANCIAL, LLC. Eric is also the founder of ePERSONAL FINANCIAL, LLC, a separate legal entity. Advisory services are offered through Sowell Management Services, a registered investment advisor.

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November 2017
    Stocks, Investing
August 2017
    Estate Planning, IRAs
April 2018
August 2017

All Answers
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    Financial Planning, Retirement Savings, Asset Allocation
How do you know when you have enough saved for retirement?
38% of people found this answer helpful

Thank you for your question and for being proactive with your retirement planning at age 41. You are exactly right! Retirement tools can often make the task of retirement planning more confusing. I have been helping individuals with retirement question for almost 20 years and I always ask, "How can I help simplify this process for my clients?". That's why I came up with term Retirement Number after choosing to work with the tech folks at Riskalyze. They streamlined the number of inputs and combined it with their Risk Number* tool. This simple process can help individuals either planning for retirement or individuals currently retired answer the question, "Am I on track?". The result will provide you with two key numbers, your personal Risk Number (RN) and your Retirement Number number. Yes, it’s that easy. This type of efficient retirement planning can really help you ease the stress of retirement planning down the road.

You have done a great job providing a lot of information that is needed to determine your Retirement number.  I have made a couple of assumptions to see if you are on track or not; current income and Risk Number. Based upon your comments, I used 4% of your current retirement portfolio, or $48,000 as your annual income and a RN 43, which is a translates to annual rate of return of 4.88%. Don't worry if the numbers are not exact for this illustration, the Retirement Number tool can be easily updated as soon as you complete a personal RN questionnaire. You can learn more about RN or Retirement Number from any independent advisor that uses the Riskalyze applications or you can visit my website.

Based on your information, I could fill in the following inputs:

Current Investment Amount: $1,200,00

Month Savings (assuming 401k max plus company match): $2,000

Birth Year: 1976

Retirement Year: 2041

Monthly Withdrawal Amount (today’s dollars): $4,000

Life Expectancy: 90

Annual Inflation: 3%

Annual Savings Increase: 2%

Investment Annual Rate of Return: Risk Number 43 or 4.88%

Your Retirement Number: 95%+. 


Congratulations! A 95%+ means that you are on track with your stated goals based upon your assumptions. I hope that this information has been helpful in your quest to simplify the retirement puzzle.

 

* Risk Number is a registered trademark of Riskalyze

October 2017
    Retirement, Retirement Savings, Social Security
What is the best approach to draw down on our retirement nest egg?
33% of people found this answer helpful
October 2017
    Retirement, 401(k), Retirement Plans
When should I retire?
17% of people found this answer helpful
September 2017
    Small Business, Small Business Financing
What are the pros and cons to working with Investment Firms?
33% of people found this answer helpful
August 2017
    Financial Planning, Estate Planning, IRAs
How do I set-up a legacy/stretch/multi-generational IRA for my adult children and minor grandchildren?
25% of people found this answer helpful
July 2017