We found a recent article in USA Today that talked about the retirement planning issues that most Americans don’t have answers for. On this episode, we’re going to breakdown the article and share a few of the key takeaways we identified.

The key with financial planning is to remove the guesswork and have a concrete strategy for income and expenses in retirement. That’s why we think you’ll get a lot out of this episode because we’ll talk about how to keep up with inflation, explain why so many people don’t understand their Social Security benefits and tell you why many people don’t have a plan for withdrawing money in retirement.

These are three key parts of determining your income plan and how much you’re going to need to feel comfortable in retirement.

USA Today Article: usatoday.com/story/money/personalfinance/retirement/2022/02/28/retirement-3-issues-making-planning-harder/49859935/

What we discuss in this episode: 

0:46 – Uncertainty around the world  

2:17 – Lack of basic knowledge

3:56 – Takeaway 1: Keeping up with inflation

6:00 – Awareness of inflation

8:06 – Takeaway 2: Social Security benefits

10:40 – Takeaway 3: Withdrawal rates

14:37 – Final thoughts

Read more and get additional financial resources here: https://principalpreservationservices.com/retirement-reality-podcast/