Have you ever wondered how your retirement preparations compare with others?

Short video recap: https://youtu.be/mNYvWKgO3MM

This is a common question that we hear as financial advisors. On this episode, we’ll take a look at data from a recent study about the 4 types of retirement journeys that people take. You’ll also hear about the risks and opportunities that stem from these 4 retirement paths. 

People’s circumstances, attitudes, and ambitions can greatly affect their retirement experience. So, if you are on the cusp of retirement you may be wondering what type of retirement you will have. You can think of retirement as a Choose Your Own Adventure book. Each path has its own opportunities and lessons to learn. Which retirement adventure will you choose?

• [2:01] Retirement is like a Choose Your Own Adventure book
• [3:13] The regretful strugglers
• [7:34] Challenged yet hopeful
• [11:34] Relaxed traditionalists
• [16:19] The purposeful pathfinders
• [21:41] Choose your own progress principle

• Episode 160 - Retirement Trends You Should Know About
• Episode 105 - Retirement Regrets
• Episode 104 - An IRMAA Appeal Can Save You Thousands in Medicare Premiums
• YouTube video - How to Execute a Roth Conversion
• Schitt’s Creek
• Seinfeld
• The Intern
• BOOK - 30 Lessons for Living by Karl Pillemer

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Which retirement stage are you in? Spoiler alert: the stages begin before you are retired. You'll also be surprised by some of the stats we uncover as we dissect findings in the latest Age Wave study on retirement. 

Video Recap: https://youtu.be/8YeA6nSCenY

We've had the pleasure of working with hundreds of families as they have planned and transitioned into retirement. Let’s dive in to this episode to explore how you can maximize these 4 phases of retirement through financial planning.

• [1:44] The anticipation stage
• [7:20] Liberation/disorientation stage
• [13:45] The reinvention stage
• [17:44] The reflection and resolution stage
• [25:08] Today’s progress principle

• Longevity and the New Journey of Retirement Study
• Episode 36 - Money Can Buy Happiness
• Episode 165 - Why You Need a Professionally Prepared Estate Plan

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How do you deal with a major financial transitions?

Video recap: https://youtu.be/2tWrduVAS14

When this happens there can be many choices that you need to make. Without the right decision-making framework, navigating these choices can lead to analysis paralysis. 

Allison Berger joins me today to share some of what she has learned while studying for the CFT designation (Certified Financial Transitionist). The coursework for this professional title combines financial planning with cutting-edge research in neurology, sociology, and psychology. With her newfound knowledge, Allison will help us learn how to navigate the technical and personal side of major life decisions.

Listen in to learn how to build a framework that can help you navigate major financial decisions. 

• [0:44] What is the CFT designation?
• [2:32] The two sides of money
• [8:23] The 4 stages of money
• [17:50] Questions to ask during transitions
• [19:29] The progress principle

• The Sudden Money Institute
• BOOK - Sudden Money by Susan Bradley
• BOOK - Atomic Habits by James Clear
• Check out our FREE resources!

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In a bear market, it can be easy to panic and forget that investor behavior drives results more than choosing the right investments. People tend to be their own worst enemy during these trying times. That’s why it is important to learn from those that have gone before you. 

Video Recap: https://www.youtube.com/watch?v=VePid5UlQ1Y

Your Playbook to Market Volatility: https://www.financialsymmetry.com/staying-the-course-even-during-volatile-markets/

Check out this episode to discover the 4 typical investors that we encounter during market declines. As you listen consider who you have been like in the past. Which one are you feeling like now? Which one do you want to be in the future?

• [2:56] Nervous Ned
• [7:02] Told-you-so Tabatha
• [10:44] Defiant Dan
• [13:07] Anchoring Andy
• [15:06] Steady Sandy
• [18:10] Progress principles

• Morgan Housel
• The 10 Most Dangerous Words In Investing

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Most of us believe we’ll always have more time with our spouse, but when that time is cut short, we’re often left with too many questions and not enough answers.

Video recap: https://youtu.be/2jFmLDB3Xks

On today’s show, we tackle the emotionally challenging subject of losing a spouse.

Between planning a funeral, notifying people, and taking calls, it’s hard to find time to grieve, much less think about the financial consequences and tax changes you have to deal with in the coming weeks. Part of our responsibility during this difficult time is to walk you through the steps of navigating the administrative part of handling a loved one’s resources.

Listen to this episode to learn about the tax changes to consider when dealing with the death of a spouse.

Read more in the show notes here: https://www.financialsymmetry.com/tax-changes-to-consider-after-the-death-of-a-spouse-ep-166/

Do you have an estate plan?

Is it up to date?

Was it prepared by an estate planning professional?

Video link: https://youtu.be/c7XO462BOcg

If you answered "no" to any of these questions, this episode is for you. 

On the show this week, we welcome Adam Tarsitano, an estate planning attorney in Raleigh, NC, to discuss why it is so important to have a professionally prepared estate plan in place.

Listen in to hear the difference between a professional estate plan and a DIY estate plan and what could happen to your assets if the state decides what to do with them.

• [1:30] The goal of an estate plan is an orderly transfer of assets
• [4:26] Why it is important to set up a trust for minor children
• [13:57] Make sure to use full names
• [16:30] Make sure your goals are the same every few years
• [19:27] What is the default?
• [23:20] Progress principle

• Tarsitano Law

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Stocks are now in a bear market. Rising interest rates mean bonds are having a horrible year. Inflation reached a 40-year high.  Headlines like these makes it tough to have confidence in your investment strategy.

Youtube video: https://youtu.be/dNb2jmLW_OU

This is why today, we are reviewing how to create a retirement plan that provides peace of mind through an investment roller coaster. If you are worried about the future of your money, our goal this week is to provide you a game plan for volatile markets.

Press play to listen in or check out the video with the slideshow on our YouTube channel.

• [2:42] The current economic situation
• [6:25] What history can teach us
• [13:20] Is this time different?
• [14:50] What should you do?
• [19:05] The media can cause you to think you can time the market
• [22:30] Tax-loss harvesting can help you save on taxes
• [24:22] Today’s progress principle

• Episode 105 - Retirement Regrets 
• Financial Symmetry YouTube channel

• https://www.financialsymmetry.com/podcast-archive/ 
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If you recently filed your tax return you may have noticed some unexpected surprises.

Video recap: https://youtu.be/G9q8k5fRNdQ

Since tax planning and preparation is an important part of what we do at Financial Symmetry, we wanted to make you all aware of the top 10 tax surprises that we see in our office. Listen in to hear if you are familiar with any of these tax prep surprises. 

• [2:58] Inheritances
• [6:55] Credit card reward points
• [7:56] Advanced child tax credit
• [10:30] Cryptocurrencies and NFTs
• [13:20] 1099K through Venmo or other cash apps
• [14:58] Underwithholding on W4s
• [16:39] It got lost in the mail
• [18:38] Double taxation on backdoor Roth
• [22:18] What to do if you receive a K1

• Episode 95 - The Dreaded IRS Letter: Dealing with a CP2000

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Deciding to retire is just the beginning of your retirement decision-making. From tax planning to Social Security decisions, finding the best strategies for you requires regular analysis.

Video recap: https://youtu.be/TleOZ8CwYXw

Today’s question comes from a client who recently read an article from Rethinking 65 titled Why Trying to Quantify Roth Conversions Is Futile. After reading the article the client wanted to know if they should take advantage of Roth conversions. As we explore this question today, you’ll learn how you can decide whether Roth conversions would be a good fit for your retirement situation.

• Cameron’s thoughts on the article [1:42]
• When to take the income [3:48]
• Look at other areas of your life when considering a Roth conversion [7:48]
• Longevity risks that come with retirement [13:38]
• How taking Roth conversions could affect Social Security [16:58]
• Today’s progress principle [22:20]

• Rethinking 65 article - Why Trying to Quantify Roth Conversions Is Futile 
• Episode 140 - Choosing the Right Investment Vehicles to Save for Retirement 
• Episode 101 - Solving the Social Security Tax Bubble Mystery
• Episode 104 - How an IRMAA Appeal Can Save You Thousands of Dollars in Medicare Premiums

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Many people that listen to retirement podcasts and read financial articles are fantastic savers. If that sounds like you, congratulations!

Video recap: https://youtu.be/pUvfv1815fw

You have done the hard work to accumulate plenty of assets and be on track to reach your financial retirement goals.

However, after a lifetime of accumulation, you may discover that you have a hard time letting go of your assets. I recently came across an article in Barron’s magazine called Retirees Aren’t Spending Enough of Their Nest Eggs. Here's Why. On this episode of Financial Symmetry, Allison Berger and I will discuss the reasons that some retirees are reluctant to spend their savings and explore strategies that you can use to ensure that you have a successful transition into retirement.

• [1:33] Retirees aren’t spending enough of their nest eggs and here’s why
• [3:30] Why is there a reluctance to spend in retirement?
• [6:53] Tactics to spend
• [10:20] Create a retirement paycheck
• [12:26] Delay taking Social Security
• [14:48] Understand the tax tools available to you
• [19:31] Estate planning is not only about documents
• [22:05] Today’s progress principle

• Retirees Aren’t Spending Enough of Their Nest Eggs. Here's Why
• The Journal of Financial Planning

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