Retirement Reality Podcast
Ep 12: Are You Having These Tough Financial Conversations

Ep 12: Are You Having These Tough Financial Conversations

November 26, 2019

There are things we'd all like to avoid talking about with our advisor because it makes us feel uncomfortable or awkward, but some topics have to be addressed if you want to build a strong retirement portfolio. We’ll take a look at how advisors should help clients navigate various tricky situations.

 

Full Show Notes: https://principalpreservationservices.com/are-you-having-these-tough-financial-conversations/ 

 

On This Episode: 

1:19 – Mike shares a Black Friday story from a time he waited in line.  

3:38 – We’re talking about awkward conversations on today’s show.

4:15 – Mailbag question: It’s seems counterintuitive to move out of a house I’ve already paid off, but I’m thinking about selling my home and moving into a rental to avoid taxes and repairs. Is that a good or bad idea?

7:20 – Starting to discuss conversations you should be having with your advisor and we begin with the death of a spouse.

9:19 – Another conversation is nursing home care and how will we afford it.

11:28 – The next topic you need to be discussing is whether you need to work longer than you expected.

13:55 – You need to sit down with your children and discuss your estate plan.

16:09 – The last conversation you need to have is with your advisor if that person doesn’t fit with your plans.

Ep 11: 4 Tips to Help You Retire Without Regret

Ep 11: 4 Tips to Help You Retire Without Regret

November 21, 2019

No one wants to reach retirement and wonder what might have happened if they made a few small changes. Simple mistakes can lead to larger financial regrets later in life. On today’s show, we’ll explore some of the things you can do to avoid living with regret in retirement.

 

Show Notes: https://principalpreservationservices.com/4-tips-for-retiring-without-regret/

 

Today's Rundown: 

1:17 – What does the holiday season look like for the Kojonen family?

2:29 – Previewing our main topic for this episode.

2:58 – Retire without regret: Don’t make any sudden decisions.

4:17 – Retire without regret: Do your research.

6:51 – How does Mike help a client make the right choice?

7:47 – Retire without regret: Work with a professional you can trust.

9:27 – An advisor can help you sort through all of your investments and help you develop a plan.

11:08 – Retire without regret: Have an actual plan for retirement.

Ep 10: Retirement Constants That Affect Everyone

Ep 10: Retirement Constants That Affect Everyone

November 14, 2019

While there are some factors that are different for everyone in retirement planning, there are also constants that affect everyone, no matter the specifics of your situation. How do we plan around these constants? We’ll explore that question on this episode

 

Show Notes: https://principalpreservationservices.com/retirement-constants-that-affect-everyone/

 

Today's Rundown:

1:06 – Mike’s daughter is getting married in a couple days.

2:29 – Previewing today’s show.

2:48 – Mailbag question: Most of my 401k is invested in company stock. Is that a bad thing?

4:28 – Mailbag question: How long should I be meeting with my advisor? I get a birthday card every year but that’s about it.

5:48 – Let’s move to our main topic on retirement constants.

6:18 – Retirement constant: Inflation

7:24 – Mike shares the story of the first car he bought.

9:36 – Retirement constant: Rising taxes

11:22 – Retirement constant: Market volatility

13:42 – Retirement constant: Healthcare costs

15:59 – Retirement constant: Fees and commissions

Ep 9: Retirement Variables That Need to Factor Into Your Plan

Ep 9: Retirement Variables That Need to Factor Into Your Plan

November 7, 2019

Retirement planning is most effective when it’s tailored to a specific individual’s needs but what factors should you pay the most attention to? We’ll discuss five retirement variables that will change from person to person but need to be considered when building a financial plan.

 

Show Notes: https://principalpreservationservices.com/retirement-variables-that-need-to-factor-into-your-plan/

 

Today's Rundown:

1:00 – Mike and his team have moved into a new office in Wisconsin office.  

1:58 – Previewing our main topic today.  

2:40 – Getting to Know Mike: What is your favorite movie genre?

4:28 – Retirement variable 1: How much income will we need in retirement?

7:55 – Retirement variable 2: Taxes

10:32 – Retirement variable 3: Our life expectancy

12:09 – Retirement variable 4: At what age should I take Social Security.

15:32 – Retirement variable 5: Risk