By Henry Wong
5
77 ratings
The podcast currently has 42 episodes available.
For many of us, we only get one shot at retirement. Because let's face it, how many times have you sat there thinking that if only you knew what you knew now about financial planning ten-fifteen-twenty years ago? That if you knew better when you were younger about how to make smarter money decisions, you would be in a much better financial position than you are now?
While we may not be able to recreate our decisions, we can focus on the here and now. We can ensure that we are taking every appropriate step to drive towards a sound and secure retirement.
Part 2 of Retirement Mindset is about figuring out your Social Security and pension income strategies. For many, Social Security and the pension will be the largest monthly income that a retiree has, and having the right strategy in place could determine whether you can sustain the retirement lifestyle you envisioned.
The five-part Retirement Mindset series are the exact steps that Henry utilizes with his clients when determining whether they are on track for retirement. Please be sure to subscribe so that you are immediately notified of the next part of this series.
Episode References:
Understanding and Maximizing Social Security Benefits:
https://podcasts.apple.com/us/podcast/understanding-and-maximizing-social-security-benefits/id1521325641?i=1000536704778
https://open.spotify.com/episode/28fEChKCgAQgh0lJUeuhKw?si=ca3411520fdf4cc3
Social Security is Running Out - Here's How Much You Can Expect to Lose in Benefits:
https://podcasts.apple.com/us/podcast/social-security-is-running-out-heres-how-much-you-can/id1521325641?i=1000536006612
https://open.spotify.com/episode/6D58ja5hSChlrZTGDXlUO1?si=4c469272ab114d7c
As always, if you have any deep-burning financial question that is driving you bonkers that you would like answered, feel free to drop a question to [email protected]
Let's face it, for most of our lives, we were taught that if we did well in school we would secure a financially stable job that would allow us to work countless hours for years on end. Yet, no where in any of those areas of education or professional training were we given an indication of how long we must work for to secure a successful retirement.
In fact, the idea of having secured a successful retirement is generally unknown for most individuals until they are ready to retire. In every aspect of our professional lives, our work most likely requires certainty. The certainty that the job would be completed timely, accurately, and in totality. Yet, our retirement is often murky at best.
With individuals posed to spend as much time in retirement as their working years, it is surprising the question of whether you are about to have a successful retirement isn't more of an active thought than it really is. While that may be typical, it doesn't mean you have to keep it as such. Join Henry as he takes you on a five-part series on how to best determine whether you are on track for retirement and all of the retirement questions you should be asking but have not thought to ask.
The five-part episode is the exact formula that Henry uses with his clients in assessing their retirement probability ratio. If you have not once thought about your ratio of not only successfully retiring but also living through retirement then this episode is for you. Whether you plan on retiring in your thirties or your sixties, you will be given the tools and mindset needed to secure financial independence.
For more information or to have the written format of this podcast, please visit www.disruptivemoneymanagement.com where all of the questions and any applicable charts are displayed.
Please be sure to subscribe so that you are immediately notified of the next part of this series. If you found this information useful and believe that it could benefit a friend or a loved one who is going through these thoughts, please share the episode by hitting the Share button.
As always, if you have any deep-burning financial question that is driving you bonkers that you would like answered, feel free to drop a question to [email protected].
As we quickly approach the end of the year, it is crucial that we take the moment to think about our financial health and whether we have taken all of the appropriate steps to not only decrease our tax liability but also protect our family.
With less than two months left before the year-end, now is the most appropriate time to check your financial affairs and ensure everything is in order. Join Henry as he goes over the financial health check-up that you should be conducting before we dive too much further into the end of the year.
Additional Content:
Retirement Savings for Solo Entrepreneurs
Why The Defined Benefit Plan Is The Single Greatest Investment Vehicle for Business Owners
Join Henry as he goes over the financial first steps for graduating physicians and healthcare workers. In a simple five-step structure, Henry outlines the first five things graduating healthcare professionals should focus on for a pathway towards financial independence.
Healthcare professionals spend an exorbitant amount of time and money to obtain their professional education. Unfortunately, while the education system may be sufficient to help prepare healthcare professionals for a career in medicine, it very rarely provides them with the necessary knowledge needed to build a foundation for their financial future.
As if not knowing isn't hard enough, having disinformation from sales brokers masquerading as financial fiduciaries make what ought to be simple financial steps even more complex and costly.
While this episode is geared primarily for graduating healthcare professionals wanting to structure their financial foundation, the concepts and steps can be easily implemented by any graduating individual who wants to kickstart their path to financial independence.
It's hard enough trying to get your financial house in order individually but what happens at the joining of two people? With money being the very core of almost all aspects of our lives, it's critical in today's environment that we embrace money matters together.
With financial matters being one of the primary reasons why couples fight, it is best to embrace that money will be something you will have to talk about with your partner. But money talks shouldn't have to be complicated, embarrassing, or even tense. If you're ready to take the next financial step with your partner or you haven't quite really joined finances together, you can start now with these five easy topics.
At the end of the day, your relationship is as strong as the way you can communicate, and breaking the barriers down early on when it comes to one of the most important aspects of our lives, you're both going to be in a much better starting position.
You can catch the show notes at www.disruptivemoneymanagement.com.
Social Security checks are about to get a whole lot bigger come January 2022 but is it enough? Learn why the largest boost to Social Security in over thirty years is still not enough to retire comfortably. Additionally, be sure to ask yourselves these retirement readiness questions to check whether you’re on track to financial independence.
Link to "How To Calculate Whether You Have Enough Saved for Retirement":
Read: https://juncture401k.com/disruptive-money-management/2021/10/3/how-to-calculate-whether-you-have-enough-saved-for-retirement
Also available on Apple Podcast, Spotify, or wherever you binge on podcasts.
Have you ever felt that your financial life controlled you more than you control your finances? It's no secret that a majority of our life is dictated by money-how much we have and do not have, how much we need, and how much we wish we had. Monetary needs are no longer the primary driver of our economy but also of our lives. It is money that makes us do what we do because without it, rent goes unpaid and lifestyles get shifted.
But why should that always be the case? Imagine a life where you are not obsessed with the need for money but rather focusing on what your life's joyous moments should be. Imagine not punching the clock until age 70 but living life on your terms knowing that you have a financial bedrock stable enough to handle all that life throws at you.
If that sounds elusive, you're not alone. While the idea of financial independence may seem out of your reach, it is far from the truth. The Secret to Becoming Financially Independent is a culmination of the studies and research done on what steps are needed to create a mindset for becoming not just financially independent but also working towards early retirement. Join Henry in this latest episode as he goes over the debt ceiling dilemma our nation is facing and share with you an excerpt from The Secret to Becoming Financially Independent available for download now at Juncture 401k.
Imagine you are needing to drive to a very important function that is a half day's drive away. How would you go about making this drive? For starters, you'll probably want to know the actual distance between where you are as well as that of your destination. You'll probably also want to know how fast you are driving so you can calculate an expected arrival time. Getting from Point A to your destination is more about knowing what the journey is like, running assumptions and accounting for variances. Getting to retirement is not unlike that.
We're all working towards retirement whether that is five, ten, fifteen, or twenty years away. But how many times have we actually stopped and wondered whether we're on track? Saving and putting money away in retirement accounts is a good start but unless we know an approximation of the end result, there is no way we can tell whether what we're doing is enough.
Join Henry as he goes over the retirement planning process. He'll help you understand the questions that you need to be asking yourself as well as knowing how to project whether you have saved enough for retirement. For more information, please visit www.disruptivemoneymanagement.com.
Most Americans know about Social Security because of the taxes they pay towards it but how many actually know how the benefits work and how they should file? If you do not fully understand the benefits then this was written just for you with strategies for maximizing benefits for couples, divorcees, and widows.
The last episode of the depleting Social Security Trust Fund generated so many questions surrounding Social Security that we are back with a release on an in-depth understanding of Social Security as well as how best to maximize strategies for different life scenarios.
Join Henry as he breaks down Social Security in a simple to understand format. By the time you're done, you should easily be able to answer the following questions:
For the show notes and more information on this topic as well as others, please check out Disruptive Money Management with Henry Wong.
Since 1935, Social Security has been the cornerstone of retirement income for many Americans. In fact, 40% of current retirees rely completely on Social Security for income. So what happens when the Social Security Trust Fund starts to run out of money? With over 65 million Americans drawing on this benefit monthly and longevity on the rise, it was inevitable that the system would start to collapse. Well, the numbers have been released and it is not looking pretty.
Join Henry as he goes over the Social Security system and how it operates. He'll be sharing with you the year in which Social Security becomes depleted and the projected reduction in benefits for retirees. Be sure to stick around to the end where he shares his best practices for assessing how much of an impact it would be to your retirement lifestyle. He'll also help you calculate what you need to adjust in terms of withdrawals to adjust for the decrease in benefit.
For the show notes or more information, please visit www.juncture401k.com.
The podcast currently has 42 episodes available.