Dennis DeGidio

Regional Sales Consultant at Thrivent Financial

625 Fourth Ave. S., Minneapolis, Minnesota, United States
Thrivent Financial
HQ Phone:
(612) 844-7000
Wrong Dennis DeGidio?

Last Updated 9/19/2013

Web References  

Thrivent Financial for Lutherans - Planning: Tools and Services - Education Center

Unfortunately, this option is also the least politically and economically feasible, says Thrivent Financial regional sales consultant Dennis DeGidio.
"There's a limit to how much we can raise taxes. You can only take so much out of the income stream and still have a viable economy," he notes. Instead, it's likely that the age at which future retirees can access either full or partial Social Security benefits will rise. And tomorrow's full benefit may be less than what you might expect. Now more than ever before, investors should plan to supplement their Social Security income with their own personal investing strategy. To get started, DeGidio suggests that you answer a series of questions: How many years of retirement can you reasonably expect to enjoy? How will you spend your retirement dollars? Traveling and buying a boat will cost more than staying home and gardening. What provision will you make for long-term care expenses or insurance? "If you think long-term care insurance premiums are expensive, you should try paying for custodial care without insurance," says DeGidio.

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Thrivent Financial for Lutherans - Planning: Tools and Services - Education Center

According to Dennis DeGidio, Thrivent Financial regional sales consultant, most retirees should put the money they absolutely need over the next three to five years in investments designed to protect capital and produce income (generally between 20 and 40 percent of an investment portfolio).
Once you've determined your conservative investments, DeGidio says, the remaining 60 to 80 percent of your total portfolio belongs in investments aimed at growth and income. Stocks, bonds or real estate fall under this description. DeGidio emphasizes the importance of sticking with the risk level that makes you comfortable. "Get some professional advice on how much risk you can take based on your income needs," he says. "But stay in the range that's right for you. Maybe you can take more risk, but that doesn't mean you should take more risk," he says.

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Thrivent Financial for Lutherans - Planning: Tools and Services - Education Center

"If you have $100,000 in your traditional IRA with a hypothetical return rate of 8 percent, compounding interest would generate about $581,000 in required minimum distributions (RMD) for a surviving child based on life expectancy," says Dennis De Gidio, regional sales consultant for Thrivent Financial for Lutherans.

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