River Place resident, businessman authors book

Parrot Up the Income Ladder book jacket
By KIM ESTES, Four Points News

River Place resident and certified financial planner, Bill Parrott, announces the publication of his first investment book, “Up the Income Ladder: Generate More Income in Retirement”.

“Investment holdings and the income they generate have a direct impact on a person’s retirement years, but few people fully understand how to generate the maximum income from their financial assets,” said Parrott, president and CEO of Parrott Wealth Management at 6500 River Place Blvd. He has been in the investment business for 27 years.

“Up the Income Ladder” teaches how to increase investment income for a financially stable retirement.

“Whether investors are approaching retirement or are already there, ‘Up the Income Ladder’ helps them keep income growing and flowing for years to come,” Parrott said.

Certified financial planner and River Place resident, Bill Parrott, center, has written a book, “Up the Income Ladder: Generate More Income in Retirement”. It is available on Amazon.com. Pictured with Parrott are his wife, Tonya, and their daughter, 18-year-old Hannah.

Certified financial planner and River Place resident, Bill Parrott, center, has written a book, “Up the Income Ladder: Generate More Income in Retirement”. It is available on Amazon.com. Pictured with Parrott are his wife, Tonya, and their daughter, 18-year-old Hannah.

The book covers three main themes, starting with financial planning and how to determine how much money is needed and how long it should last.

“This is a combination of two things: household expenses and lifestyle. The financial side answers itself,” Parrott said.

But, he warns, there is an emotional side of retirement.

“It is a big challenge for the soon to be retiree,” he said.

When Parrott works on a plan with someone, he runs through a lot of scenarios. What do they want to do when they retire: volunteer, travel the world, do a job they’ve always wanted to do?

“If they are able to articulate their ‘wants,’ planning goes pretty well and it gives them something to look forward to. It ties the plan together and gives them a sense of purpose,” he said. “If they haven’t talked and thought about it, it’s harder.”

Secondly, Parrott focuses on education, teaching about interest rates, risk, investment selection and investment strategies.

Parrott said, the book will walk the reader from conservative investment ideas to more aggressive ones.

“When people retire, they think they have to be conservative with their money. In years past, they would buy certificates of deposit and lock in retirement. The problem is if you live 30 or 40 years after retiring, your money doesn’t keep pace with inflation and it eats into your returns,” he said.

“The book educates investors on the advantages of adding different types of investments to take them through retirement and beyond. Don’t retire your money when you retire,” he added.

The third theme is about putting it all together, Parrott concluded.

He discusses how to work with an advisor and suggests people interview planners.

“The most important thing advisors should say is they are working for the client – 100 percent,” he said.

“Up the Income Ladder” is for sale on Amazon.com. For more information about it, contact Parrott at (512) 922-4429 or bill@parrottwealth.com.