Retirement Reality Podcast
Ep #4: Is Playing the Blame Game Holding You Back Financially?

Ep #4: Is Playing the Blame Game Holding You Back Financially?

September 26, 2019

Have you ever had any type of financial trouble and immediately look to place the blame on external factors? Many times there are situations that make retirement planning difficult, but making excuses rather than looking for solutions will slow down your growth and limit your potential. We’ll share some of the common ‘blame game’ examples we hear and provide you with guidance to get past them.

On this show:

0:54 – Introducing the topic for today’s show.

1:15 – Getting to Know Mike: What hobby would you pick up if time and money weren’t an issue?

3:30 – Blame game excuse 1 : My divorce has really messed me up financially.

5:04 – How difficult is to get back on track financially after a divorce?    

5:48 – Blame game excuse 2: My old broker did me wrong?   

7:12 – Blame game excuse 3: The system is rigged in that Wall Street always wins but not the little guy.

9:37 – Blame game excuse 4: My kids have had trouble finding good jobs since leaving school so I’ve been helping them out for years.

11:17 – Is Mike seeing clients that are dealing with kids living with them longer and relying them for long periods of time.

13:34 – Another common issue Mike sees from clients.

Get the full show notes and additional resources by clicking here:

Ep #3: 3rd & 4th Quarter Financial Planning Checklist

Ep #3: 3rd & 4th Quarter Financial Planning Checklist

September 19, 2019

As the year begins to wind down, it becomes a great time to run through a financial checklist to make sure your investments all are on track. These six items will help you decrease your taxes, improve your portfolio, and keep your retirement plan moving forward.

Today's rundown:

1:21 – Mike talks about his trip to the Minnesota State Fair.

3:13 – Let’s talk about a 3rd & 4th quarter planning checklist.   

3:53 – Item 1: Evaluating our IRA or Roth contribution options.

5:31 – Item 2: Taking a look at your charitable donations.    

7:06 – Item 3: Offsetting your gains with losses.   

8:19 – Item 4: Get updated estimates on retirement income streams.  

9:49 – Item 5: Put a plan or schedule in place to get rid of your debt.

11:12 – Item 6: Evaluate your portfolio and rebalance your investments.  

14:22 – Mailbag question: What kind of annual return should I be seeking on investments in retirement?

15:54 – Mailbag question: I’ve seen a lot of growth in my 401(k) recently but I feel like I should capture these gains and take risk off the table. On the other hand, what if the market continues to go up?

For full show notes and additional resources, click here. 

Ep #2: 5 Financial Myths That Need to Be Busted

Ep #2: 5 Financial Myths That Need to Be Busted

September 12, 2019

When it comes to retirement planning, there are some widely believed financials myths that you’ve likely heard. Today we’ll look at some of those and try to bust them wide open. The scary thing is that a lot of people base their financial plans on some of these myths. Don’t be like that.

2:22 – Getting to know Mike: Who is somebody that always makes you laugh?  

4:25 – Beginning our discussion on the biggest financial myths.   

4:49 – Myth 1: Shifting from stocks to bonds removes the volatility.

6:42 – Myth 2: Once you’re retired, life insurance is no longer necessary.   

7:43 – Myth 3: You’ll need less income in retirement than when you’re working.   

9:43 – Myth 4: You will be in a lower tax bracket once you retire.

10:55 – Myth 5: Financial planning today is easy to do by yourself now because there’s so much info available.

13:08 – One final myth that Mike hears a lot.

15:17 – Some people are so hard on themselves when planning for retirement.


Get show notes and additional resources here: