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Episodes by Topic: Retirement
BEST OF TALKING MONEY: The Bucket Strategy
What is the bucket approach to retirement planning? How do you adjust for inflation?
How can you determine your personal inflation rate? What factors come into play?
Which bucket should I focus on?
What are some different vehicles we use for income?
What are some other ways to try to retain income security in retirement?
Listen to the EpisodeBest of Talking Money: The Bucket Strategy
What is the bucket approach to retirement planning? How do you adjust for inflation?
How can you determine your personal inflation rate? What factors come into play?
Which bucket should I focus on?
What are some different vehicles we use for income?
What are some other ways to try to retain income security in retirement?
Listen to the EpisodeThe Bucket Strategy
What is the bucket approach to retirement planning? How do you adjust for inflation?
How can you determine your personal inflation rate? What factors come into play?
Which bucket should I focus on?
What are some different vehicles we use for income?
What are some other ways to try to retain income security in retirement?
Listen to the EpisodeThe Bucket Strategy
What is the bucket approach to retirement planning? How do you adjust for inflation?
How can you determine your personal inflation rate? What factors come into play?
Which bucket should I focus on?
What are some different vehicles we use for income?
What are some other ways to try to retain income security in retirement?
Listen to the EpisodeShould Retirees Exit the Stock Market?
This week, Mike discusses whether or not a retiree should get out of the stock market. There are many concerns to think about, including:
- Do you have a pension plan?
- If you have an annuity, what issues should you consider?
- Could you possibly have a long-term care event before you pass?
- There are two different kinds of risk, and It is important to know what kind of risk you are talking about and how you handle both.
- Seen risk: volatility; being risk-averse or time to weather the next downturn (afraid of dying sooner)
- Unseen: inflation and the increasing cost of living (potential of living longer)
- Why is a diversified portfolio so important: like having investments in “time buckets”?
- People want to get to the point they don’t want to worry about money, but how much does that actually take? A lot has to do with how you view money and where you get your contentment.
- One of the biggest concerns seems to be health care: long term care events and how to pay for them.
- If you invest too conservatively, you might have to reduce your standard of living so that you don’t outlive your money.
How retirement literate are you?
After taking some time to answer some tax questions from last week, Mike discusses a recent survey put out by the American College of Financial Services regarding retirement literacy.
- How aware are you of different scenarios of retirement?
- Are you really retirement literate?
You can take the quiz here. (Hint: Mike gives several of the answers in this episode, so listen first and then go test your knowledge!)
Mike also discusses the importance of working with a financial planning professional to help you weed through all of the information about retirement.
Listen to the EpisodeThe Emotions of Retirement, Part 2
Mike continues his discussion of a recent Wall Street Journal Article asking if you are emotionally ready for retirement. Some more questions to ask yourself:
- Would I like to go part time or should I just quit “cold turkey”?
- Do I have things to fill my time like hobbies or volunteering?
- Do I have friends that aren’t connected to my job or to my partner?
- What role is my partner playing in this decision?
- Do my partner and I have similar ideas about traveling in retirement or where we are going to live?
He also answers some listener questions:
- When my annuity reaches its surrender period, should I renew or transfer to an IRA?
- Would you bypass a 401(k) and go straight to a Roth IRA?
The Emotions of Retirement, Part 1
Are you emotionally ready for retirement? Mike looks at a recent Wall Street Journal article that proposes 8 questions you need to ask yourself. In this episode, he looks at the first three:
- On Sunday evening, how do you feel about work on Monday? Do you feel dread or anticipation?
- Have you thought carefully about your financial picture? Are you financially independent?
- What do my already retired friends and family think about retirement?
He also answers listener questions and issues:
- How to tell if that email or text telling you your account needs attention is legitimate or if it is someone else trying to scam you.
- With the potential of rising tax rates, should I convert all my retirement accounts to Roth accounts?
- What are my options for giving through a fixed annuity? Can I use a Qualified Charitable Distribution?
- What are some ways to donate assets to a non-profit?
Income in Retirement, Part 2
Part 2 of Can You Invest Too Conservatively
How should you structure your portfolio for a retirement income that still protects against the hidden risk of inflation? Mike discusses the dangers of investing so conservatively that you reduce the risk of your portfolio going down (volatility) while at the same time increasing the risk of loss of purchasing power.
Listen to the EpisodeIncome in Retirement, Part 1
Part 1 of Can You Invest Too Conservatively
How should you structure your portfolio for a retirement income that still protects against the hidden risk of inflation? Mike discusses the dangers of investing so conservatively that you reduce the risk of your portfolio going down (volatility) while at the same time increasing the risk of loss of purchasing power.
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