Retirement Reality Podcast
Ep 44: Applying Mark Twain Quotes to Finance

Ep 44: Applying Mark Twain Quotes to Finance

July 23, 2020

Mark Twain is considered one of the greatest writers in American history and many of the things he wrote and said are still very applicable more than 100 years later. To celebrate his humor and wisdom, we pulled some of his best quotes and applied them to financial planning.

 

Show notes & additional financial resources: https://principalpreservationservices.com/ep-44-applying-mark-twain-quotes-to-finance/ 

 

Today's show schedule: 

 

1:29 – Before we turn to Mark Twain quotes, let’s begin with our favorite Yogi Berra quotes.

3:58 – 1st Mark Twain quote

5:43 – 2nd Mark Twain quote

7:05 – 3rd Mark Twain quote

8:44 – 4th Mark Twain quote

10:26 – 5th Mark Twain quote

12:02 – 6th Mark Twain quote

14:37 – Mailbag Question: When should I start focusing less on growing my money and focus more on protecting it instead? I plan on retiring in two years and the volatility makes me nervous.

Ep 43: Saying One Thing But Doing Another

Ep 43: Saying One Thing But Doing Another

July 16, 2020

When it comes to investing, do your actions line up with your goals? It’s easy to talk about what you want to accomplish but are you taking the proper steps to make progress towards those things? Let’s talk about the ways in which people will say one thing about their finances but do another.

 

Read more and get additional resources here: https://principalpreservationservices.com/ep-43-saying-one-thing-but-doing-another/ 

 

Today's show schedule:

1:02 – Update on Mike professional career.

2:53 – What we’re talking about today.

3:17 – They spend a lot of time saving but don’t worry about fees in their investments.

5:33 – Someone says they aren’t comfortable with risk but their portfolio doesn’t reflect that.

7:26 – People that really care about their family and loved ones but don’t have a plan in place to take care of them in the event something happens.

10:24 – People want to retire as soon as possible but don’t take the time to put a plan in place.

13:52 – Mailbag question: Is it wise to have a trust as part of my financial and estate plan? 

Ep 42: Traditional or Roth IRA?

Ep 42: Traditional or Roth IRA?

July 9, 2020

Despite the popularity of IRAs, there seems to be quite a bit of confusion between the traditional options and the Roth. What’s the difference between the two and where should you be contributing your money? Today we’ll answer those questions and help you better understand your investing options.

 

Read more and get additional financial resources here: https://principalpreservationservices.com/ep-42-traditional-or-roth-ira/ 

 

Today's show schedule: 

1:19 – Do you get a lot of questions on this subject from clients?

2:32 – Explain the differences between the two.

4:56 – Why do people typically contribute more to IRA over Roth?

6:00 – How can a Roth be a powerful tool for investors?

8:00 – Who is someone that would benefit from contributing to a Roth over traditional?

11:31 – Who would benefit more from a traditional IRA over a Roth?

13:26 – Mailbag question #1: We should be leaving a significant amount of money to our kids. Should we tell them about our plans now or let it be a surprise?

16:41 – Mailbag question #1: We have big travel plans in retirement, including visiting all 7 continents. Will we need more income in retirement than we have now?

Ep 41: Lessons From Keyboard Warriors

Ep 41: Lessons From Keyboard Warriors

July 2, 2020

We were playing the dangerous game of perusing the comments section of a recent article about COVID-19 and the impacts on retirees and how much money you’ll need to retire going forward. The trip into the comments section is always a mixed bag of trolling, inaccuracies, and sometimes surprisingly helpful insight from what we’ve come to describe as “Keyboard Warriors.” So, let’s look at some of the sentiments found under this recent article and see if they resonate with how others truly see the financial world, retirement, and how to best prepare for it all.

 

Read more and get additional financial resources here: https://principalpreservationservices.com/ep-41-lessons-from-keyboard-warriors/ 

 

Today's show schedule: 

0:58 – Mike has his first seminar scheduled since the pandemic started.

3:22 – Let’s talk about keyboard warriors and the comments on a recent article.

4:11 – First comment

5:46 – Second comment on concern

7:44 – Third comment on opportunity

9:22 – Fourth comment

10:54 – Fifth comment with opposite views.

13:22 – Final comment on planning

15:27 – Mailbag Question: I have a variable annuity and found out that the fees are very high. I’d like to move the money but I’d have to pay a penalty to get it out. Is it worth paying the penalty to lose the high fees?