The Number One Concern of Retirees – Interview on “Money Life with Chuck Jaffe”

In today’s show, we’re airing a recent podcast I was interviewed on for Money Life with Chuck Jaffe. As a former Senior Columnist for MarketWatch for 14 years, Chuck is the host of a daily daily financial talk show focusing on investing, handling, managing, planning for and protecting your money.

In our conversation, we addressed topics such as the number one concern of retirees and how do you know if you will outlive your money. We also talked about annuities and Social Security so there is a lot jam-packed in this interview that you may benefit from – take a listen.

Find Chuck Jaffe at:

3 Steps of a Solid Retirement Plan

In light of what is going on with the market today, what’s the best way to set up your retirement plan? In this show, we cover 3 steps you must take to ensure your success in retirement and beyond:

  • strategy
  • preparation
  • execution

Listen in for practical ways to implement these steps, whether you’re close to retirement or still have a couple of decades to plan.

Sharon’s Story

Our biases tell us that we think we know certain things – but our biases are often wrong. In this episode, I share the powerful story of a client whom we’ll call “Sharon” who has some tough medical and life issues going on. When I met her a few years ago, her plan was to retire in Alaska, but due to health challenges and lack of care there, that plan is not feasible anymore. The financial component is another issue: Sharon has a surgery coming up that is not covered by insurance; her house needs a new roof; she has to scrimp to make ends meet in retirement due to inflation; and she’s worried about outliving her savings. Listen in for the feedback and solutions I offered her during our meeting.

“More Life Than Money” Book Launch – Sneak Peak – “What You Don’t Know CAN Wreck Your Retirement”

My book, “More Life Than Money – How Not To Outlive Your Savings”, is scheduled to hit Amazon and bookshelves nationwide this Tuesday, February 7. This show is a sneak peak into the book and the topics covered, with the goal of helping you prepare for retirement because what you don’t know CAN hurt you down the road. Listen in for a preview into the various chapters of the book; my promise is that if you’re anywhere near retirement age, there most certainly is at least one chapter in the book that applies to you.

Lump Sum or Annuity Payment as Pension Options

What is a pension? Many people are surprised to find out that it’s not a 401k or 403b. A pension is an employer-sponsored plan that is designed to provide an income stream for life – and by definition, that’s an annuity. In this episode, we discuss 5 things you need to take into consideration when deciding the best way to take your pension (unless you’re a teacher or government worker, in which case you don’t have a choice – you have to take the monthly income):

1. what is the break-even period (not counting interest or dividends or potential growth)

2. what is the return on investment

3. do you need the income

4. do you have enough saved outside of your pension

5. do you care about leaving an inheritance

Correlation Between Stocks, Bonds and Cash

Correlation is a concept that refers to how things relate to each other: things that are correlated move in the same direction, and vice versa. Listen to this show to find out how this applies to stocks, bonds and cash and the way their respective values correlate with each other (or don’t). You’ll learn about what happens to bonds when stocks are doing well, when the best time is to have more money in cash and how to set up your portfolio for proper diversification.