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What to Do If You Have Not Saved For Retirement and You Are Now 50 Years Old / Wealth Labs Podcast

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If You Are Doing All the RIGHT Things For Your Retirement, You NEED This!/ Ask The Money Nerds

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at and watch for our response on an upcoming episode!

What kind of lifestyle will your retirement plan provide? If you are close to retirement, does it make sense to continue funding 401k or IRA accounts? I’ve brought back Tim Cardone and Chief of Staff Stolba for today’s Ask The Money Nerds segment of the Wealth Labs Podcast. We address today's question from both a philosophical and visual standpoint. Tim reveals the true numbers with many retirement accounts through some calculations.

Time Stamps:
1:35 – I’m 56 and married with an 8 year old and I have been diligently been contributing into my IRA and 401(k). Additionally, I have 27 years left on my mortgage. What are some ideas on what I can do with my contributions? Do I roll them into another investment, pay of the house or stop making payments all together?
2:20 – Why it might be good to just pay off your house
3:45 – What if you saved the money you planned to contribute, rather than putting it into your 401(k)?
5:00 – A deep dive into the structure of 401(k) plans
8:00 – How do taxes impact the money inside 401(k) plans?
9:25 – Looking at the impact of management fees on your 401(k)
13:00 – What the numbers look like even if your employer matches 100% of your contribution
17:05 – Understanding the Cash Flow Index & The Investment Index
18:40 – Investing vs Dis-investing

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Garrett is the author of the New York Times and Wall Street Journal bestselling personal finance book Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity.

He is the Founder and Chief Wealth Architect of the Inc. 500 firm, Wealth Factory. A regular on ABC’s Good Money, he has been on Fox, CNBC, as well as hundreds of radio interviews, and is a contributor for Forbes. Garrett is a frequent speaker at workshops and conferences. He lives in Salt Lake City.

Garrett has also been interviewed by some of the greats in the personal development space like Hal Elrod, Robert Kiyosaki, Ryan Moran at the Capitalism Conference, Dan Sullivan from Strategic Coach, the Mindvalley Podcast, Project Life Mastery with Stefan James, Joe Polish of Genius Network, Entrepreneur on Fire with John Lee Dumas, The Science of Flipping with Justin Colby, The How of Business, and many more!

If you want to build sustainable wealth, increase your monthly cash flow and enjoy economic independence without using budgets, cutbacks, limiting your lifestyle or adding new customers to your business, then Garrett & the Wealth Factory team can help provide the tools and training you need to build the life you love.

Interested in getting a Financial Checklist to you back on the right track? Click the link below:

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Killing Sacred Cows -
What Would the Rockefellers Do -

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This video is about If You Are Doing All the RIGHT Things For Your Retirement, You NEED This!/ Wealth Factory

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EPS 171: TURBULENCE with Mr. David A Banmiller, Retired Airline Executive and Author (Chapter 2)

Turbulence Chapter 2 - In The Cabin

We talk about different times - past times - almost a different world where awareness and correctness were not considered.
• From Glamour in the skies to:-
o Business in the skies
o Open skies
o Anyone can fly - affordability
o Now - almost no fly
o We can't wait to fly!
• How advertising was pitched - Uniform, excitement, adventure
• How customer service has developed - From Golf Balls and Cigars to no food and limited seat space
• What is expected from the many flight options we now have
• The 4 R principles now at the forefront of the business:-
o RIGHT-SIZE FLEET
o RESTRUCTURING THE BUSINESS
o RECAPTURING THE BUSINESS
o ROUTE ANALYSIS/REVIEW/MODIFY
• Bravery of firsts -
o Casey Grant
o Vietnam 'rest and recuperation' flights - letter from Rick!
o Bomb threats
o Sept 11 -
 AA flight 11
 UA flight 93

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Music used: Distant Lands - Hanu Dixit.mp3
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How To Create Your Retirement Income Strategy with Jason Sanger | Wealth Building Cornerstones

In today's Better Wealth Episode, I had the pleasure of interviewing Jason Sanger, President and Creator of Wealth Building Cornerstones, a company dedicated to provide individuals and families simple, easy to understand, processes that maximize the use of their money for wealth building and protection. Jason shares his story from the world of engineering to the world of finance. Listen as he explains how to create a retirement income generation path. Jason also describes the history of what he calls “The Two Economics Powers Approach” and why people are getting a rude awakening once they hit retirement. Jason gives us an incredible in depth look at retirement, why having a metric of measurement allows for you to understand your retirement option, create the most efficient strategies that will work for you. He shares why the methods to create retirement plans can be greatly impacted by the product and its ability to balance both the “accumulation power” and “distribution power” thus impacting the legacy of your retirement. Join me as Jason gives incredible insight on the math, the measurement, the history, and the strategy behind educating, building and developing retirement strategies for a retirement that creates income until the end.

#BETTERWEALTH

For more information on BetterWealth or the content you hear on the Podcast visit us at
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The 2 Biggest Regrets Saving For Retirement (don't make the same mistakes)

Thanks to USAA for sponsoring this video!

✅Get your retirement questions answered here:



Even to this day, I can still remember one of the first appointment I had as a financial advisor.

I was meeting with a couple in their early 60’s. Their goal was to see if they were able to retire.

They were so stressed out with their 40+ hour work weeks and the fact that they could barely pay their bills, they were ready to be done.

The sad part was that they barely had any savings, investments, or money put away for retirement.

That was not the only time I met people that wanted to get ready for retirement, but they didn’t take the right steps early enough to fulfill that dream of retirement.

The two biggest mistakes they made:

1. They didn’t have a plan - they assumed with their small 401k and social security, that would be enough.

2. They never sought advice - they took care of their own finances without any coaching or guidance.

Nothing compares to sitting down with a financial advisor that knows what steps you need to take for your unique financial situation.

Don’t think that you can do this alone.

USAA is offering a no charge retirement review to look at your situation, just to see how you are doing.

You have to have a plan, you have to work that plan, and you have to seek advice from someone that knows more than you do.

#USAA #LifeUninterrupted #sponsored

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Secrets to a successful retirement

Rick Bloom joins JoAnne Purtan to look at the secrets to a successful retirement in out Don't Waste Your Money Makeover special.

Saving the Lost Generation Of Near Retirees With Siavash Radpour on That Annuity Show

For people ages 55 to 65, the pandemic presents enormous risk in retirement. Siavash Radpour, the Associate Research Director of the Retirement Equity Lab at the New School joins us today to discuss the unique economic pressure faced by this cohort. In the discussion, we reference a policy recommendation for the incoming Biden administration found here:

About That Annuity Show -
We create audio and video content for professionals who share a passion for advancing the retirement industry. Approximately 80% of our audience are top advisors or independent agents who help consumers plan for retirement. Approximately 10% work at carriers in product management, distribution, and compliance. Industry influencers account for approximately 10%.

We want to help every independent agent be successful explaining the benefits of annuities. And there are many. They can protect retirement nest eggs from market downturns. They can generate predictable income in retirement. They can even offer several benefits in case of serious illnesses. However, the products can be very complicated. And discussing tough topics about retirement lifestyle can be tricky.

At the same time, we work in a highly regulated industry. We frequently sell our products to seniors. And the laws seem to change all the time. How do we effectively build our practice and remain compliant with all rules?

This information is provided by Nassau for educational purposes only. It is not individualized to address any specific financial objective and is not intended as investment, legal or financial advice. Any links or references to third party information or websites is for informational purposes only. Nassau has no control over such third party information or websites, is not responsible for their availability or accuracy, and does not endorse and is not responsible or liable for any content, advertising, products, or other materials on or available from them. Your access to or use of such sites or resources is at your sole risk.

Roth Conversions in Retirement: Helping your PRAP last longer.

CONTACT DAN:
OUR WEBSITE:

Videos in this Series:

Channel Overview:
1. Five Key Issues with Retirement Tax Planning:
2. Four Stages of Retirement Tax Planning:
3. Taxation and Surprises of Social Security:
4. Working and Social Security:
5. Medicare Costs and Surcharges:
6. RMDs: Avoid this 50% Tax Penalty:
7. Tax Efficient Withdrawals:

In this video I’m going to tell you about a strategy that may lower your lifetime tax bill and help your portfolio last longer.

I’m talking about Roth Conversions in retirement.
I’m Dan Lohmar, I’m a CFP professional with United Wealth management where we specialize in PRAP management and financial planning for United Pilots. And like many of you, My business partner, Alan Bewley, and I are both United pilots. Welcome to another video.

If you want to learn to manage your taxes and grow your money so that you enjoy the retirement you deserve and help your money last longer, then subscribe now and hit the bell icon so that you know when new videos come out.


One way to help manage your income both before and during retirement is to do Roth IRA conversions.

This is a simple process that allows you to move money from tax deferred accounts like a IRA, your United Pilots PRAP to a Roth IRA.

In general, the amount that you convert is added to your income for that year, and will be taxed at that year’s tax rate. But then then the money in Roth IRAs grows tax free and comes out tax free.

There are two potential benefits to doing these: ONE - ideally you would do them in years where your tax rate is lower than what your expect in the future, and TWO they can help lower your required minimum distributions which begin at age 70 and 1/2.

The combination of two has the potential to reduce taxes over your lifetime and help your money last longer.

Now, there is no question everyone’s situation is different.
Roth conversions may be more beneficial to some and less so for others.
This means you will hear many differing opinions about Roth accounts and Roth conversions. And there is nothing wrong with that. No one is 100% wrong or 100% right, but what it does mean is it’s very situation dependent.

The only way you will know is to have comparisons ran based upon your specific situation.

For now, Let’s go over to the computer and talk about what you need to know about ROTH conversions in retirement.

#176 - The Role of Asset Allocation in Retirement Planning

“Learn the rules like a pro so you can break them like an artist” (Pablo Picasso). When I was taking a math refresher course for my certification, I had to memorize and practice calculating investment specific formulas. I have never had to use that skill again. But it did serve a purpose in giving me a greater appreciation for the rules as well as an understanding of where those rules are useful and where they are not. It’s important to understand the rules. In this episode on the role of asset allocation in retirement, I’ll talk about how we also need to break some of the rules to serve us in creating a great life.

Why is asset allocation what everyone uses if it doesn’t really work 100% for retirement? Asset allocation is focused on maximizing return for a given level of risk. It is not tied to your retirement goals or your life. So why does almost everyone use asset allocation in retirement planning? On this episode, I’ll explain how asset allocation works, its benefits, and its downsides. Now that we’re not dealing with accumulation of assets but are starting to deal with decumulation of assets (retirement), we are starting to see that asset allocation may not be the entire answer. That doesn’t mean we throw it out. Listen to today’s podcast to find out what I do to balance it with more flexibility.

Tie your investment strategy to the goals that you want to achieve Asset allocation builds a solid foundation for making better investment decisions. But you also need to have an investment strategy that is tied to the goals you want to achieve during the retirement (decumulation) stage. On this episode, I help you understand the need for more than just asset allocation in retirement planning. Listen in to hear how I implement portfolios with clients as they are entering and in retirement.

The “Fixed and Flexible” approach to retirement investing The way that I have come to manage assets with clients is what I call “Fixed and Flexible.” It starts with fixed allocation as a foundation and then adds actively managed investment vehicles for more flexibility. On this episode, I describe how to choose where you want to be in the “river” of capital markets, and I clarify the difference between actively managed vehicles that are flexible and those that are not. Listen in to learn how to develop an approach that has both stability and flexibility.

Evaluate your investment types according to your retirement goals In the next seven days look at each of your managers, ETF’s, mutual funds, whatever it is you own and identify what type of investment mandate they have. Are they passive, active, or flexible managers? Why do you have these different types and these different portions and how does that relate to what you are trying to achieve for your family? Listen to today’s podcast to get the information you need to ask and answer these important questions about your investment portfolio.

 

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:27] Why learn the formulas? [4:03] How do we break some of these rules to serve us in creating a great life? [4:20] Disclaimer.  

HOT TOPIC SEGMENT [5:05] Why is asset allocation what everyone uses if it doesn’t really work 100% for retirement? [8:56] What are the benefits of the asset allocation model? PRACTICAL PLANNING SEGMENT [14:03] Asset allocation is a sound framework for investment decisions, but not the entire solution. [15:52] The “Fixed and Flexible” approach - asset allocation. [21:56] The “Fixed and Flexible” approach - Actively managed investment vehicles. TODAY’S SMART SPRINT SEGMENT [32:46] Identify what types of investment mandates your funds have. THE HAPPY LAB SEGMENT [34:04] Scott & Jeannine Fitzgerald. Children’s Book - Buddy Pegs podcast. Kickstarter for new book Buddy Pegs Taking the Lead. RESOURCES MENTIONED IN THIS EPISODE Buddy Pegs Taking the Lead, Scott and Jannine Fitzgerald (Kickstarter)

Contact Roger

Roger’s retirement learning center

The Retirement Answer Man Facebook page

The Link Between Aging and Longevity in Retirement with Andrew Steele | The Retire Sooner Podcast

Just because you’re getting older doesn’t mean that you should stop your efforts for longevity. After all, planning for a happy retirement includes following core pursuits and socializing with family and friends. Aging is inevitable, but for those retiring it can be a concern. Planning your retirement with a life expectancy of 70 years old is different from planning for a life expectancy of 90 years old.

In today’s episode, Wes interviews Dr. Andrew Steele, a London-based bio-gerontologist, writer, and campaigner as he explains some of the research behind his new book Ageless: The New Science of Getting Older Without Getting Old. They discuss risk factors of diseases, such as cancer and dementia, the impact of excessive daily exercise, and why sleep is essential to your health.
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Wes Moss interviews expert guests and shares key lifestyle and money habits you can implement now to prepare for a happy and early retirement.

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This Should Scare You About Your Retirement Planning

The old 4% rule is what everyone uses to evaluate the success of one's retirement plan. Ask anyone how much money they can take out of their portfolio and without hesitation it seems that person will say 4%.

Why? Well... that's what everyone says, right?

Well, because everyone says it does that make it right for you? Everyone also said to eat low fats and high carbs, and look where that got us.

Now, this is not an indictment of Bill Begen's 4% rule article that came out in the Journal for Financial Planning in 1994. Back then it made perfect sense.

But it's now 25 years later. Think a change should be considered? After all, are people living longer or shorter than they were in 1994?

What are bond rates now, compared to 1994 and the previous history of the markets in which Bengen based his rule?

What were stocks doing in the years up to the point Bengen did his study? Can we assume the same rates of returns going forward?

I'd be hard-pressed to encourage any of my clients to use ANY model based on past numbers that simply are not achievable today.

10 year Treasury is half of what it historically is.

No one, and I mean, NO ONE, would argue stocks are undervalued relative to historical numbers.

Finally, people are living longer, in case you hadn't heard.

Thus, if you're banking on the 4% rule to dictate your retirement success, I highly suggest you think again.

Joe Tomlinson did the grunt work for us in the article I reference in this video. And what you'll see should shock you out of any complacency you had.

What worked before, won't work now.

You've been warned. Prepare accordingly.



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The Tax Bomb In Your Retirement Accounts: How The Roth IRA Can Help You Avoid It


Strategic Money Planning: 8 Easy Ways To Put Your House In Order





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#203 - Why the Great and Powerful Oz Won’t Save Your Retirement

There are many big questions that don’t get touched on in portfolio management sessions. Instead of asking the important questions, you and your advisor may be solely focused on market performance or market projections during these annual meetings. But what do these things actually have to do with your life and your retirement? On this episode of Retirement Answer Man, we discuss the important questions. We will find out what you should really be asking yourself, your advisor, and your money! Grab a pencil and listen to this episode to get the answers to the questions that you really should be asking.

Don’t become distracted by the details When dealing with investments and money managers it is easy to get distracted by the details. Investment managers tend to overcomplicate money matters and rather than advising you on the things that really make sense, they focus on the small details of the markets, market performance, and market projections. Their talk can be a distraction from what you should be thinking about. This can be overly complicated and without the answers you are actually looking for. This doesn’t add any value to your situation and the conversations become too technical. Keep the main thing the main thing. The main thing is how can you live your best life now and in retirement. Listen to this episode to hear what you should be talking about with your investment manager, or the questions you should be asking yourself if you manage your own investments.

What is the purpose of your investments? Often advisors want to become portfolio managers. While attempting to do so they often begin diversifying assets. But over-diversification can be a distraction. This adds no value to the situation and can be intimidating. And you should never feel intimidated when discussing your money. Investment managers often get focused on pulling all the strings, being the manager, instead of the purpose of your investments. Portfolio management will not save you and advisors can’t portfolio manage your life. Think about what the purpose of your retirement investment is. On this episode of Retirement Answer Man, we discuss the questions that you should be asking, like when can I retire? If you’d like to hear all the questions you should be focusing on with your retirement investments, listen in to hear.

What kind of investment questions should you be focused on?  On the practical planning segment of this show, I answer some listener questions. One listener asks about using the Sortino ratio vs. using the Sharp ratio to measure returns. He asks what these are and which he should use to measure his returns. While this is a great question which I answer fully, my real advice is to focus on the questions that really matter to your retirement. Try not to get bogged down with overly complicated measures and investment strategies. It is easy to get distracted from the business of living your fullest life now and in retirement when you get overloaded with the heavy questions of the investment industry. Listen to the full episode to hear all the listener questions that I answer.

Focus on living your best life  The purpose of your retirement investments is to create a process for having a great life now and a great life later. Don’t lose focus on the real questions which are: when can I retire, how can I live now and how can I live better in retirement? By focusing on these questions during every strategy session you can stick to what really matters rather than the minutiae of typical strategy sessions with financial advisors. This keeps both you and your advisor focused on the real goal, which is living your best life. Listen to this episode of Retirement Answer Man to find out more questions that you should be asking yourself and your financial advisor to keep you and your money both focused on living your best life.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [1:22] Time for an annual review - what are the questions you should be asking in your review HOT TOPIC SEGMENT [7:49] Don’t become distracted by the details [10:05] When your investment advisor tries to become a portfolio manager PRACTICAL PLANNING SEGMENT [15:55] Geeky question time [16:32] What do Sortino ratio and Shark ratio mean, and which should you use? [21:10] What are the pros and cons of QLAC [25:53] Is eating healthy really more expensive? THE HAPPY LAB SEGMENT [26:35] Celebrate, my word for 2018 - what is your word that guides you this year? TODAY’S SMART SPRINT SEGMENT [28:18] Get a pre-release copy of my book, Rock Retirement Resources Mentioned In This Episode BOOK - Rock Retirement by Roger Whitney

Ask Roger a question

Work with Roger

3-video Series: 5 Minute Retirement Makeover

Roger’s Retirement Learning Center

The Retirement Answer Man Facebook Page

Ways to Secure Your Retirement with Radon Stancil

Today's guest in the Expert Insight Interview is Radon Stancil. He and our host John Golden discuss Radon's latest book, Secure Your Retirement, and how people's different approaches to investing compare to one another.



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[Ep. 93] | How to Plan Your Retirement the Smart Way - Fritz Gilbert, Retirement Manifesto

[This podcast episode was originally released on February 22, 2017]

Saving for your retirement is simple. As Fritz Gilbert from The Retirement Manifesto shares, it all comes down to starting early, spending less than you make, and keeping to it.

For the show notes for this episode visit

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You’re Retired! How to Use Your Accounts: Creating a Withdrawal Strategy to Fund Your Retirement

Listen to the full episode here


You have been diligently saving in tax-deferred accounts for years and you finally have enough squirreled away to fund your retirement. But we need to discuss the elephant in the room. You have a looming tax burden that if not handled correctly can really mess up your retirement plans. On this episode, I’m going to teach you how to come up with a withdrawal strategy to help you fund your retirement. Are you ready to learn how to withdraw from your retirement accounts without Uncle Sam getting more than his fair share? Then listen to this episode of Retirement Answer Man to help you plan your retirement withdrawal strategy.

The looming tax burden Your money has been growing tax-deferred year after year. This is a great way to get you to save for retirement, but now it’s time to pay the piper. Do you know what your tax liability is? If you have $1 million in tax-deferred accounts and you take it all out in one year then you’ll have to pay 30% in taxes. Your million dollars just shrank to less than $700k. The good news is that you can minimize your tax liability in how you withdraw from your accounts. The great thing about retirement is that you have more control than ever in deciding which tax bracket you will fall under. You can manage how much you take out and where that money comes from.

You need to be more tax aware than ever before How do we take advantage of the tax system to maximize the amount of money that we put in our pockets? Early on in retirement is when you start to think of spending in big ways. You may want to buy an RV or a vacation home or remodel your current home. Many people spend on these extraordinary expenses with little thought as to how they should withdraw the money for these projects. You want to be aware of the tax brackets when you decide how you withdraw your income. Thinking about tax strategy is not nearly as exciting as when you think about investment strategy. It’s not glossy and sleek, but having the right tax strategy is even more important at this point in your life and having the right strategy to fund your retirement can save you thousands of dollars down the line.

What are your income sources in retirement? There are usually 3 sources of income to fund your retirement. There is social capital like pensions and Social Security. Next, you have human capital, which is the income that you may earn in pretirement. Lastly is financial capital or the money you have saved in various accounts. Your financial capital is then broken up into 3 categories. The money you have already paid taxes on, money from tax-deferred assets (401K’s and IRA’s), and tax-free assets (Roth IRA’s). You have to have a strategy on how to manage all of these buckets of differently taxed assets. Having the 3 buckets gives you some flexibility on how to pull money out of these accounts.

What can you do to frame your withdrawal strategy to fund your retirement? Retirement tax strategy can get really complicated. That’s why it is so important to have a plan. Follow these steps to help you minimize your tax burden.

• Know your income sources. Figure out what your social capital, human capital, and financial capital are and identify where you have control.
• Know your planned spending. This sounds simple but you should understand the sequence of your spending and plan for the lump sum expenses. Decide how you will pay for them.
• Model how to find tax equilibrium. You need to look at your tax bracket and plan year by year.
• Think about where to put your investment assets.
• Think dynamically to stay agile and flexible each year.
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN HOT TOPIC SEGMENT
• [2:20] That looming tax burden
• [6:33] Be aware of your tax bracket as you withdraw your income

PRACTICAL PLANNING SEGMENT
• [9:25] A correction from a previous episode
• [10:53] Have a withdrawal plan
• [16:45] RMD is waiting for you
• [19:02] The ACA adds another element of complexity to your withdrawal strategy
• [23:12] What can you do to frame your withdrawal strategy

THE HAPPY LAB SEGMENT
• [26:02] Human connection is awesome to see

TODAY’S SMART SPRINT SEGMENT
• [28:05] Outline how you will withdraw money in your first 2-3 years of retirement

Resources Mentioned In This Episode Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement  by Roger Whitney

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Roger’s Retirement Learning Center

The Retirement Answer Man Facebook Page

#183 - How Pre-tirement Could Save Your Retirement

Listen to the full episode here


Pre-tirement is that phase between full-time work and what we think of as traditional retirement, and it could be the key to you having a great retirement. Traditional retirement planning that focuses only on investing just doesn’t work. It doesn’t inspire much confidence or clarity about what your future could be. On this episode, I explain the advantages of pre-tirement and give you some ideas to get you started thinking about it. Listen in to learn why you should consider pre-tirement before retirement!

Why is pre-tirement important? Saving and investing for retirement is extremely important. But it is not all of the story. Your nest egg cannot be all of it. It just doesn’t work. As you think about your retirement, consider pre-tirement as part of your plan. It takes some pressure off of the saving mentality and allows you to build a better life when you do reach full retirement. On this episode, I give you a number of reasons why pre-tirement is important, explain the advantages, and suggest ways you can go about it. Listen in and get started on planning your pre-tirement!

Pre-tirement offers numerous financial benefits Pre-tirement (thinking of retirement like a dimmer switch) offers numerous financial advantages over full retirement (the on-off switch). On today’s episode, I will explain how pre-tirement benefits you in terms of preserving investments, delaying Social Security, reducing health-care costs, and moderating spikes in post-retirement spending. Listen in to learn what you need to know about pre-tirement and how it could save your retirement!

Pre-tirement offers qualitative advantages that you could miss out on with full retirement As you are planning your retirement, qualitative considerations are as important as financial ones. When you treat retirement like an on-off switch, you miss out on a number of qualitative advantages that come with treating retirement like a dimmer switch, by embracing pre-tirement. Join me on this episode to learn about the difference that pre-tirement can make in your social network, your sense of purpose, and in your mental and physical health and motivation.

What can I do to start exploring pre-tirement? You want to start planning your pre-tirement sooner than later. On this episode, I describe several steps you can take to get started and provide a few questions you can begin thinking about. Should you stay in your same industry or do something different that you love? How do you go about building a new network? What opportunities should you consider? Listen to this episode of The Retirement Answer Man Podcast for answers to these questions and more.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
• [0:24] What is pre-tirement?
• [0:33] Why do I need something different than traditional retirement planning?
• [2:23] Disclaimer

HOT TOPIC SEGMENT
• [3:04] Why Americans are still not confident or ready for retirement.

PRACTICAL PLANNING SEGMENT
• [5:38] What excites you most about retirement?
• [7:30] What does pre-tirement look like?
• [12:24] Why is the pre-tirement phase important?
• [14:57] Transitioning into retirement is a period of significant change.
• [15:35] Pre-tirement preserves your savings.
• [17:29] Pre-tirement allows you to delay Social Security and keep your full benefit.
• [19:49] Pre-tirement can reduce health-care costs.
• [21:34] Pre-tirement can help you moderate post-retirement spending.
• [23:45] Pre-tirement helps you maintain a robust social network.
• [26:42] Pre-tirement can help you maintain a sense of purpose.
• [28:25] Pre-tirement supports your mental and physical health.
• [29:10] Getting started tip #1 - Start planning earlier than later. Questions to ask.
• [31:09] Getting started tip #2 - Build your networks.
• [32:19] Getting started tip #3 - Be open to opportunities.
• [32:50] A few ideas for pre-tirement work

TODAY’S SMART SPRINT SEGMENT
• [34:17] Think about what you might do in a pre-tirement phase. (Share it with me so I can share the ideas on another show).

THE HAPPY LAB SEGMENT
• [35:12] Want to be happy? Focus on how you respond to things.

RESOURCES MENTIONED IN THIS EPISODE Book: Built to Sell , by

Book: The One-Hundred Year Life  by Lynda Gratton and Andrew Scott

Martin Miller, Career Pivot

Episode 98  with Michael Kitces

Ask Roger a question

Abe & Louie’s Steakhouse , Boston

3-Video Series: 5 Minute Retirement Makeover

Contact Roger

Joe Saul-Sehy of Stacking Benjamin’s  - hosting podcast meet-up at McFadden’s Anaheim  on Tuesday, August 22 at 7:30 pm

Six-shot Saturday  (Scroll down to a box on the right to subscribe to this weekly e-mail).

Roger’s retirement learning center

The Retirement Answer Man Facebook page
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Dentist Money Blog: Is your retirement plan built like a Steinway piano?

What do finance and pianos have in common? Pretty much everything. As the composer of your financial future, you need the right instrument to unlock your wealth-building potential. But a lot of dentists are using models that are out of tune.

In this episode of the Dentist Money podcast on Dental Economics, Reese and Ryan describe the sound of a well-crafted retirement plan.

401(k) Fridays #220 - The State Of State Run Retirement Plans: A Bi Coastal Update

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At least once a year it makes sense to check in on what our friends at the state run retirement plans are up to. Today, I am happy to have Katie Selenski, the Executive Director of CalSavers, the California State Retirement Plan and Dylan Giambatista, the with the new Vermont or Green Mountain Secure Retirement Plan. Katie shares some encouraging data on what they are seeing thus far from CalSavers and Dylan shares the unique approach Vermont took to creating their retirement plan. I learned a lot, hopefully you do as well.

Before we get started, if you are not already on our email list, make sure you take care of that today. We will announcing our next webinar on Pooled Employer Plans shortly. Go to today.

Here are the statistics from the CalSavers plan Katie mentioned.


Guest Bios

Katie Selenski |
Dylan Giambatista |

Katie is the Executive Director of CalSavers, the State of California’s pioneering retirement savings program that provides a path to retirement security for Californians who lack access to a retirement plan at work. Appointed by the State Treasurer in 2017 shortly after legislative passage, Ms. Selenski took CalSavers from concept through design, build, and launch. Ongoing marketing for the three-year rollout aims to engage an estimated pool of more than 250,000 employers and their eight million employees.

Prior to taking the helm at CalSavers, Ms. Selenski was the State Policy Director for pension policy at The Pew Charitable Trusts in Washington, D.C., where she advised policymakers in a dozen states and cities. Previously, she was a senior manager with the nonpartisan public sector consulting firm Harvey M. Rose Associates, based in San Francisco, where she advised municipal leaders on a wide array of budget, management, and policy matters, including pensions. Earlier, she was a municipal bond rating analyst at a leading rating agency, a legislative aide in the California Assembly, and the director of an historic statewide youth voter turnout initiative.

Ms. Selenski is a graduate of the University of Chicago and the John F. Kennedy School of Government at Harvard University.


-------------------------

Dylan is the Director of Outreach & Financial Literacy for the Office of the Vermont State Treasurer, where he is a member of the project management team for the Green Mountain Secure Retirement Plan. Dylan served in the Vermont House of Representatives from 2017 until January 2021. He was a member of the House Education Committee, and was elected Assistant Majority Leader. Prior to his service in the Vermont General Assembly, Dylan was Chief of Staff to the Vermont Speaker of the House. He is a Trustee on the Vermont State Colleges Board of Trustees and serves on several community boards.

#183 - How Pre-tirement Could Save Your Retirement

Pre-tirement is that phase between full-time work and what we think of as traditional retirement, and it could be the key to you having a great retirement. Traditional retirement planning that focuses only on investing just doesn’t work. It doesn’t inspire much confidence or clarity about what your future could be. On this episode, I explain the advantages of pre-tirement and give you some ideas to get you started thinking about it. Listen in to learn why you should consider pre-tirement before retirement!

Why is pre-tirement important? Saving and investing for retirement is extremely important. But it is not all of the story. Your nest egg cannot be all of it. It just doesn’t work. As you think about your retirement, consider pre-tirement as part of your plan. It takes some pressure off of the saving mentality and allows you to build a better life when you do reach full retirement. On this episode, I give you a number of reasons why pre-tirement is important, explain the advantages, and suggest ways you can go about it. Listen in and get started on planning your pre-tirement!

Pre-tirement offers numerous financial benefits Pre-tirement (thinking of retirement like a dimmer switch) offers numerous financial advantages over full retirement (the on-off switch). On today’s episode, I will explain how pre-tirement benefits you in terms of preserving investments, delaying Social Security, reducing health-care costs, and moderating spikes in post-retirement spending. Listen in to learn what you need to know about pre-tirement and how it could save your retirement!

Pre-tirement offers qualitative advantages that you could miss out on with full retirement As you are planning your retirement, qualitative considerations are as important as financial ones. When you treat retirement like an on-off switch, you miss out on a number of qualitative advantages that come with treating retirement like a dimmer switch, by embracing pre-tirement. Join me on this episode to learn about the difference that pre-tirement can make in your social network, your sense of purpose, and in your mental and physical health and motivation.

What can I do to start exploring pre-tirement? You want to start planning your pre-tirement sooner than later. On this episode, I describe several steps you can take to get started and provide a few questions you can begin thinking about. Should you stay in your same industry or do something different that you love? How do you go about building a new network? What opportunities should you consider? Listen to this episode of The Retirement Answer Man Podcast for answers to these questions and more.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:24] What is pre-tirement? [0:33] Why do I need something different than traditional retirement planning? [2:23] Disclaimer HOT TOPIC SEGMENT [3:04] Why Americans are still not confident or ready for retirement. PRACTICAL PLANNING SEGMENT [5:38] What excites you most about retirement? [7:30] What does pre-tirement look like? [12:24] Why is the pre-tirement phase important? [14:57] Transitioning into retirement is a period of significant change. [15:35] Pre-tirement preserves your savings. [17:29] Pre-tirement allows you to delay Social Security and keep your full benefit. [19:49] Pre-tirement can reduce health-care costs. [21:34] Pre-tirement can help you moderate post-retirement spending. [23:45] Pre-tirement helps you maintain a robust social network. [26:42] Pre-tirement can help you maintain a sense of purpose. [28:25] Pre-tirement supports your mental and physical health. [29:10] Getting started tip #1 - Start planning earlier than later. Questions to ask. [31:09] Getting started tip #2 - Build your networks. [32:19] Getting started tip #3 - Be open to opportunities. [32:50] A few ideas for pre-tirement work TODAY’S SMART SPRINT SEGMENT [34:17] Think about what you might do in a pre-tirement phase. (Share it with me so I can share the ideas on another show). THE HAPPY LAB SEGMENT [35:12] Want to be happy? Focus on how you respond to things. RESOURCES MENTIONED IN THIS EPISODE Book: Built to Sell, by

Book: The One-Hundred Year Life by Lynda Gratton and Andrew Scott

Martin Miller, Career Pivot

Ask Roger a question

Abe & Louie’s Steakhouse, Boston

3-Video Series: 5 Minute Retirement Makeover

Contact Roger

Joe Saul-Sehy of Stacking Benjamin’s - hosting podcast meet-up at McFadden’s Anaheim on Tuesday, August 22 at 7:30 pm

Six-shot Saturday (Scroll down to a box on the right to subscribe to this weekly e-mail).

Roger’s retirement learning center

The Retirement Answer Man Facebook page

COVID-19 Rules For No Penalty Withdrawal From Retirement Account

During the time of filming this episode, the COVID-19 pandemic has caused a lot of hardship all around the world. On the bright side, opportunities have sprung out allowing people to recover. Stay tuned as I discuss the opportunity I'm talking about.

To your abundance!
Doug Andrew

Key Moments In This Episode
========================
00:36 There's a unique opportunity right now
03:04 In June of 2020...
04:13 For years I've been telling this to people
06:35 The Rich Man's Roth
08:03 Strategic Rollout
09:42 Be aware of this
10:30 In a strategic rollout...
11:16 Here's the opportunity

Did you love this video?
Want to learn more wealth and life empowerment lessons from Doug?
Here are some next steps!
========================
How to Diversify and Create the Foundation for a Tax-Free Retirement


How to Lead Your Family/Business from “ME” to “WE”


Visit Doug Andrew’s website:


Music
========================
Song: LiQWYD - Glow (Vlog No Copyright Music)
Music provided by Vlog No Copyright Music
Video Link:

========================
Video by Nate Woodbury
BeTheHeroStudios.com


#DougAndrew
#3DimensionalWealth
#AbundantLiving

January 2020 GreenSheet #9 Investor Letter

Website link: SimplePassiveCashflow.com/investorletter


Start learning about real estate investing - SimplePassiveCashflow.com/start

Subscribe to the Top-50 Investing Free Podcast -


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