The Final Countdown: Pre-Retirement Planning Essentials

When should you actually start planning for retirement? If you’re 10 years away from it, is it too soon or is it too late? It’s not uncommon for someone to call us and say they’re retiring within a few months and they don’t want to make any mistakes.

Over the last 25 years, we’ve had two major market crashes at around 50%. We have not had a crash in 15 years. If you wait until the last minute to plan your retirement, what happens if the market tanks? Will you be able to retire?

If these questions raise more questions for you, you may want to listen in.

Are You Making These Money-Wasting Mistakes in Retirement?

It’s all about income on today’s show: we’re going to talk about ways that you may be wasting money during retirement or may be leaving money on the table through unclaimed benefits you’re not taking advantage of or investment strategies you’re not aware of.

Some people have actually saved enough money where they can retire with as much income as they need; most of you may not be able to do that and may have to cut back on expenses a bit.

The income equation has two sides: offense and defense.
On the offensive side:
– are you investing properly and trying to maximize your income?
– where can you save money?
– can you get more money from Social Security or from your investments?
– do you have too much money sitting in the bank earning nothing?

On the defensive side:
– are you spending too much?
– should you downsize your home?
– do you have the wrong type of health care coverage?
– do you have major expenses with parents and children at the same time?

Listen in for more.

How to Find the Right Financial Advisor

If I blew out my knee, I certainly wouldn’t trust myself to fix it. I’m not a doctor, I’m a financial advisor. I’d try my hardest to find the best doctor who could diagnose and fix my knee.

When you’re younger, you can afford to make mistakes because you have more time to overcome them. When you’re older, you can’t afford to mess up anymore; you may have done a great job of growing your portfolio but, when you get to retirement, the strategy shifts.

So if you think you may benefit from the advice of a financial advisor after years of DIY, how can you find one? What should you look for in an advisor? What different types of advisors are there, and which one is appropriate for you?

Listen in to find out.

Are You Taking Too Much Investment Risk?

Are you taking too much risk within your investment portfolio depending on the stage of life you find yourself in?

In this week’s podcast, we talk about good risk and bad risk and the difference between left and right brain investing (sounds a bit woo-woo but stick with me). Good risk is the risk of volatility. Bad risk is the risk of loss and it usually occurs when you’re not diversified enough – not just within an asset class, but among different asset classes.

Listen in.

Life Insurance and Long Term Care

Life insurance is designed to provide a financial benefit to your designated beneficiaries upon your death. This benefit can help cover various expenses, such as funeral costs, outstanding debts, mortgage payments, and living expenses for your family.

Long Term Care insurance is designed to cover the costs associated with long-term care services, which are not typically covered by regular health insurance or Medicare. These services include assistance with daily activities like bathing, dressing, and eating, either at home, in an assisted living facility, or a nursing home.

Is permanent life insurance a good investment?

Do I really need long term care and is it a good idea?

What can I do if I’m starting to invest for retirement late in life?

We’ll tackle these questions, plus a few more from your listeners, during this show. Listen in.

Strategies for Maximizing Your Social Security

Our mission for this show is to help you live a stress-free retirement; and few things create more stress and confusion for pre-retirees than Social Security. Since they don’t know whom to turn to for advice, they often make hasty decisions that cost them tens of thousands over their lifetime.¬†When should you take Social Security and what is the best way to take it? We’ll give answers and strategies in the first part of this show.

In the second part, we’ll talk about the best ways to invest during your accumulation years, as you’re heading towards retirement, versus your retirement years. Finally, we’ll answer some listener questions about these topics. Listen in.