Can I retire with $1 million in savings? Do I need $2 million? Is $5 million the number to reach? In this show, we will answer this common question. How much do you need saved for retirement? How much is enough?

Part 3 of 3: Needy Family Members

In Part Two of this three part series, we explore how family members can actually become one of the top threats to a successful retirement plan. This "punch to the mouth" is really "close to home." When an aging parent or an adult child comes to you in a time of need, it is natural to want to help. But what if helping results in a financial drain which collapses your own retirement? Can you say no to family request for financial support? In each part of this series, we will identify the retirement planning threat, provide examples, and offer solutions. Tune in to learn how to dodge the punches that come your way in retirement.

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Health Care Costs Destroy Retirement Plans - "Everybody's got a plan until they get punched in the mouth." - Mike Tyson

In Part Two of this three part series, we explore how a negative health event is one of the top threats to a successful retirement plan. This "punch to the mouth" is something no one wants to deal with, plan for, or even talk about. The costs are extremely high for a major health problem, a chronic condition, or the need for professional nursing care. Any retirement income plan must factor in these potential expenses. In each part of this series, we will identify the retirement planning threat, provide examples, and offer solutions. Tune in to learn how to dodge the punches that come your way in retirement.

In Part One of this three part series, we explore how market crashes are one of the top threats to a successful retirement plan. In each part of this series, we will identify the retirement planning threat, provide examples, and offer solutions. This first "punch to the mouth" is perhaps the most widely known and easiest to prevent. Tune in to learn how to dodge the punches that come your way in retirement.

Do we make worse financial decisions as we get older? Does knowledge of basic financial concepts decline after age 60? The short answer is "yes." In today's show we will review the results of a study on this issue and explore what people can do about their decline in financial literacy.

Should you use your 401k or IRA money to pay off your debts? Many financial advisers will say "no way!" But, perhaps it isn't a bad solution after all. In this show we discuss the situations in which raiding your retirement funds to pay down your debts makes sense. If you are struggling with debt and want to know what to do, listen in to hear our take.

Everyone knows that healthcare is expensive. But exact pricing still tends to be a mystery, at least up until the point where you get the bill in the mail. Recently President Trump issued an executive order aimed at increasing the transparency of healthcare pricing. Beyond a price list on a hospital website, it seems the President is trying to pull back the curtain on the private deals between hospitals and insurance companies. In today's show we will talk about whether this executive order will help consumers like you and me. To illustrate what's at stake, we are going to analyze my recent healthcare bills. In addition, we are going to play a game in which Tony tries to guess the cost of the healthcare services I just used. Spoiler alert - the costs are going to seem outrageous.

Successful retirement is about increasing income and decreasing stress. Are retirees stressed? What stresses will those entering retirement face? In this episode we discuss the new and challenging stresses that retirement brings about. We'll talk about not only financial stress, but also about the stress brought about by health issues, social changes, and the experience of retiring itself. What's the best way to reduce your stress as you begin retirement? Tune in to find out.

More and more people are working in retirement. Is that what they want? Is that what you want? Do you have to? Is there any way to avoid it? In this episode Dan explores this topic and goes over why this is important to you and how planning can help.

Which is better - a 401(k) plan or a Pension plan? As the traditional pension plans (defined benefit) have quickly been replaced by the 401(k) plans (defined contribution), we have seen more people struggling with retirement. Could it be that pensions are actually better than 401(k) plans? Is the guaranteed income from a pension a better option than the flexibility of a lump sum from a 401(k)? Join us as we discuss these option in detail and determine which is better - perhaps the answer is both should be used!?