Retirement Reality Podcast
Ep 56: Five Common Financial Mistakes in Hindsight

Ep 56: Five Common Financial Mistakes in Hindsight

October 22, 2020

Have you ever looked back on a financial decision and thought, “I wish I would have done that differently”? Decisions about money are a lot easier with the benefit of hindsight. On this episode of the Retirement Reality Podcast, Mike Kojonen looks at five common money mistakes people have made this year.

 

Read more and get additional financial resources here: https://principalpreservationservices.com/39703-2/ 

 

What we discuss on this show:

2:19 – Getting out of the market

4:59 – Not knowing your risk factor

6:51 – Not knowing your social security options

9:15 – Not putting money in a Roth IRA

12:21 – Retiring too early and going back to work

15:30 – Mailbag: Should I try to get a tax refund?

17:12 – Mailbag: Redo our kitchen or save more for retirement?

Ep 55: How Does Your Retirement Savings Compare to Average American?

Ep 55: How Does Your Retirement Savings Compare to Average American?

October 15, 2020

Have you ever wondered how your savings plan compares to the average American? Vanguard released a report with stats on retirement accounts and we’re going to look at some of the most interesting data to come out of the past year.

 

Read more and get additional financial resources here: https://principalpreservationservices.com/ep-55-how-does-your-retirement-savings-compare-to-average-american/ 

 

Read the full Vanguard report: https://institutional.vanguard.com/ngiam/assets/pdf/has/how-america-saves-report-2020.pdf

 

What we discuss on this show: 

6:01 – Majority of assets in 401Ks or something similar

7:41 – Maximizing your 401K contributions

8:58 – 1 in 5 use Roth or after-tax option

10:08 – Statistics on employer matches

12:39 – Average rates of return

16:24 – Leaving money with former employer

19:40 – How we help educate clients

21:53 – 76% of people have balanced strategies

Ep 54: Five Outdated Financial Strategies

Ep 54: Five Outdated Financial Strategies

October 8, 2020

Just like technologies change and become outdated, so do some retirement planning strategies. Let’s look at five financial strategies and determine whether or not they still apply. 

 

Read more and get additional financial resources here: https://principalpreservationservices.com/ep-54-five-outdated-financial-strategies/

 

What we discuss on the show: 

2:34 – 4% rule

4:00 – 10/5/3 rule

7:10 - as you get older, move money from stocks to bonds

9:37 - $1 million retirement target

12:17 - you’ll need less money in retirement

15:11 – Mailbag: Should I invest differently based on the election?

Ep 53: Answers to Common Housing and Retirement Questions

Ep 53: Answers to Common Housing and Retirement Questions

October 1, 2020

Clients often ask how housing fits into retirement plans. From downsizing to rental properties to interest rates, let’s explore some of the top retirement questions about housing.

 

Read more and get additional financial resources here: https://principalpreservationservices.com/ep-53-answers-to-common-housing-and-retirement-questions/ 

 

What we discuss on this show: 

4:00 – Pay off the house early or slowly?

6:28 – Downsize to a smaller home at retirement?

8:55 – Is rental property a good idea for creating income?

10:37 – Complications with real estate legacy plans?

14:47 – Contact Mike

15:34 – Mailbag: How much money will I spend in retirement?

17:15 – Mailbag: Can I overcome a divorce this late in life?