Here’s part 2 of our mini-series focusing on creating a seamless transition between the working years and retirement. Just like any new habit or routine, retirement can take a while to adjust to. Listen in if you, like many, are secretly (or even openly) more scared to retire than you are excited.
Retirement is something most of us are going to do only once. It’s basically breaking the habit of working, of the same routine we’ve been doing for 30-40 years. This is what our comfort zone is until we retire. There’s a psychology behind breaking a habit, a routine or a comfort zone. In this show and the next, we will go over a few tips about how to make the transition between working years and retirement as seamless as possible. Listen in.
To piggyback on my previous podcast about the possibility of a recession, I’m dedicating this episode to a discussion about what makes a strong economy. Here are 4 points we will consider:
- low unemployment rate
- steady inflation
- stong consumer confidence
- healthy GDP growth
It’s been about a year and a half now since talks of recession first started; the economy seems to be doing relatively well and many are wondering if we’re out of the woods or if a recession could still be possible. Here are 4 things to consider:
- gross domestic product and economic contraction
- rising unemployment
- declining consumer confidence
- inverted yield curve
If you don’t have a plan for retirement, you’re undoubtedly going to live your golden years under stress. In this show, I give you 5 reasons why investing for income and planning ahead can keep your retirement stress-free:
1. a steady income stream to count on
2. reduced market risk
3. inflation protection
4. longevity risk mitigation
5. simplicity and focus
Many listeners think that in order to invest for income they need to invest more aggressively. In fact, the exact opposite is true. Investing for income is more conservative than being invested for growth – and if you’re in retirement, that’s a win-win: you need income and you need to protect your portofolio from losses since you’re not adding to it anymore like you did in your working years.
Here are 3 reasons why investing for income is more conservative:
- it is tied to a contract
- income-based investments tend to fluctuate less
- value stocks are more conservative than growth stocks