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August 22, 2024

Financial Mailbag: Retirement Savings, Life Insurance Claim, Finding an Advisor & More

19 minutes

In this special mailbag edition of the show, Mike answers a wide range of listener questions. From life insurance and alimony to savings and retirement planning, this episode covers many of the financial planning conversations we have with clients every day.

Here are some of the questions we’ll answer in this episode:

I’ve heard that you need to have between 15 and 20 times your annual salary in savings to be able to retire comfortably—do you think that’s accurate?

It seems that all of the experts I hear say that you should work until 70 and then start your Social Security. I’m only 57 now and I can’t imagine working another 13 years. How important is this notion of working until 70?

I’ve interviewed seven different financial advisors. All of them have aspects that I like, but not even one seems perfect to me. Should I keep interviewing more folks or am I being too picky?

I was planning to retire this year, but would this be a bad time to retire with everything that’s going on?

To get in touch with Mike, visit our website: http://principalpreservationservices.com

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By Mike Kojonen

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