Possessing an extensive background in wealth planning strategies, Chester (C. Edziu) Pacana aims to help his clients to safeguard their principal while developing steady retirement income streams. As a conservative wealth management planner with Pacana Conservative Wealth Management in Tennessee, Chester Pacana creates individualized financial programs based on each client’s retirement needs. He is well-versed in state retirement plans, such as the Tennessee Consolidated Retirement System (TCRS).
Considered one of the top-performing pension plans in the country, the TCRS manages retirement, disability, and survivor benefits for Tennessee state and local government employees, including teachers, higher-education personnel, and their families. The pension fund has more than $45 billion under management and handles retirement benefits for over a quarter of a million members and some 150,000 retirees. After a five-year vesting period, teachers who remain in the system for 30 years or until the age of 60 will receive a monthly retirement benefit. The annual benefit total is determined by factoring years of active teaching, retirement age, and average compensation. The TCRS also offers early-retirement and death benefit options for eligible members.
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As a conservative wealth management planner with DeRosa & Associates Inc. in Jamestown, Tennessee, Chester “C. Edziu” Pacana designs tax-free retirement strategies while satisfying a host of additional professional obligations. Chester Pacana’s areas of knowledge include utilizing investment pathways to beat inflation, which can erode savings over time.
Reflecting the increasing cost of goods and services over time, inflation is a constant that impacts spending power when one holds savings of a set value. According to the United States Department of Labor, inflation has averaged 3 percent annually over the past century, which is why salaries, as well as costs, are significantly higher than they were a generation ago. One misleading aspect of this equation is the significant, often sharp increases and decreases that occur along the way, amidst periods in which very little changes from year to year. One example of a sustained drop in inflation was during the Great Depression of the 1930s, as consumer demand bottomed out. Conversely, the oil crisis caused significant inflation increases in the 1970s and 1980s. Even relatively small inflation rate increases can have a dramatic price impact over the long term. For example, a 3 percent inflation rate over the course of two decades will increase average home prices from around $275,000 to nearly $500,000. For this reason, Chester Pacana and his associates recommend risk-adverse investment strategies designed to grow wealth at a faster rate than that of inflation. A conservative wealth management planner based in Tennessee, Chester “C. Edziu” Pacana is diversely experienced in real estate investment and financial planning. In addition to offering wealth management planning for high-net-worth individuals, Chester Pacana engages in challenging physical activities, such as hiking and rucking. Rucking, or taking a “forced march,” comes from a common Army training exercise in which soldiers are required to carry their equipment on their backs while walking for miles. Backpacks may weigh 45 pounds or more. Infantry members often complete the march in full combat uniform and may be required to hold a loaded weapon. The march usually takes place on uneven or difficult terrain. Rucking is a fundamental part of basic training, and improving finish time is essential for any soldier who wishes to move up the ranks. A 12-mile ruck march must be completed within three hours in order to qualify for an Expert Infantryman Badge. Forced marches are also part of admission and passing criteria for some specialist Army schools. Civilians use rucking for exercise and posture improvement, carrying weight in a backpack Chester Pacana is an established conservative wealth management planner who meets the needs of Tennessee clients through his work with DeRosa & Associates. In a recent LinkedIn article titled “Getting in Front of Potential Clients and Showing Them Need” Chester Pacana brought focus to strategies that independent agents use in securing new clients.
One major hurdle for agents is securing quality leads, with even “double verified leads" typically requiring several phone calls to talk with, and event more attempts to arrange sit-down or online appointments. Even in cases of successful meetings, where positive relationships are built, a significant percentage of potential clients are simply shopping and may not come to any firm decision for months. This does not mean that the motivated, personable agent cannot set out a clear value proposition that makes forging long-term relationship with a prospective client a more likely. A key aspect of this is clearly outlining the benefits of products such as term, final expense, Medicare Advance, and supplemental insurance. When it comes to such products as whole life with dividends, fixed index annuities, and indexed universal life insurance, it is more challenging to present a compelling narrative. This has to do with the conditioning people receive that simply placing money over the long term into a 401(k) or equities portfolio will allow assets to grow and provide a comfortable retirement. C. Edziu Pacana suggests that the key is being able to clearly explain the ways in which indexing and related strategies protect clients and provide a springboard for quality gains, without the level of principal loss risks associated with other products that clients may see as essentially the same. |
AuthorChester Pacana - Experienced Conservative Wealth Management Planner. Archives
July 2019
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