You never know what major life events will impact your life, but you can prepare yourself in case that day ever comes. On this episode, we’ll discuss some of the biggest life changes you might face as a retiree or pre-retiree and explain how they can affect your retirement.

 

Show Notes and Additional Resources: https://johnsonbrunetti.com/?p=4479 

 

On This Episode: 

0:32 – What do we mean when we say major life events?

2:06 – We can take the Chinese translation for crisis and apply it to our financial life.

2:35 – The story about the first crisis Joel remembers facing as a child and why it became an opportunity.

3:38 – Life event: The early retirement package. The buyout from work.

4:32 – A client recently went through this process and had to make some big decisions.  

7:57 – Life event: Sometimes you get forced out of a job before you are ready to retire. How do you handle this?

11:07 – Life event: Receiving an inheritance.  

13:38 – Listener question: I recently inherited an IRA from my mother and apparently I have to take some money out each year. Should I take a little each year or take it all at once and invest it elsewhere?

14:42 – Life event: Divorce. What are the financial decisions that have to be made?  

16:31 – Life event: The death of a spouse. What happens next financially?