Continuation of the episode

We look forward to retirement as a time to enjoy our days, family, and doing the things we want to do. Just one thing: in order to make that happen there are still some rules to follow. 

Saving money is a good start. There is more than just saving. How much you need, how it will be harvested, and how long you will live are all very important. Let's consider some areas that can help your retirement be successful.

We often talk about the importance of a written financial and income plan for a successful retirement. If you're in the financial red zone that plan is critical. Some tips to help you get there.

Preparing for retirement is a daunting task. There is an abundant amount of information out there that can potentially derail your plans no matter how good you think your plan is. 

Most would agree there is plenty of misleading news and information regarding retirement. You need this amount to retire. Medicare is the be all and end all  for health insurance and it's free. Social Security is a Ponzi scheme and Social Security is going away. 

Let's cut through the noise and offer a more realistic  approach to retirement planning.

Roth IRA or Roth 401k? Both? Does a Roth fit you? If yes great. If not then some other things to consider.

What are you going to do in retirement? Finding creative and resourceful ways to prepare for retirement is an important part of the process. Many people just don't take the time needed to plan out their retirement and think they can  wing it when they get there. No one should think they can just make it up as they go along. Here are some tips to help you find the right direction.

The decade leading up to retirement is the last chance to build significant assets and income. The decisions you make in your fifties will impact the retirement benefits you receive and how much you will be able to safely spend the rest of your life. 

If you have a solid retirement and income plan in place then now is the right time to check the boxes to make sure it's in the best possible shape to help you get on the right track and keep you there.

Women save less than men. Saving for their retirement is important yet women face many challenges in building a retirement fund. Women have fewer working years. That makes planning and saving for retirement a serious challenge for many women.

Women outlive men by anywhere form 9 to 14 years. Yet women spend a lot of money on their families, are in the labor force for a shorter time period then men, and wind up in a compressed time frame.

What can we do to change that?

While having enough money is important there are other considerations such as striving for income and minimizing federal income taxes. 

Because our tax code is very progressive planning for taxes is a key piece of the retirement puzzle. Avoiding increasing your tax liability will prevent your income from being reduced and it will also prolong the duration of your portfolio assets.

A successful retirement is about more than money. It also touches on attaining that dream of what you want to do in retirement and the legacy you want to leave behind. Having goals in retirement is critical in make sure your plan evolves with the times. That requires an ongoing conversation with your adviser. The unadvised person runs greater risk of guessing and navigating by gut.

With the right plan many retirees will have few problems. Turns out not every retiree has the right plan or worse no plan at all. We'll highlight mistakes that some are making that an really harm their retirement.

Stay turned because we have some great listener questions when we come right back.

There are some exceptions embedded in the tax code that makes the Roth IRA a treasure before and during retirement. Let's break it down.

Women usually outlive men. Women's relationship with money has evolved-but could be better. A longer life means financial complexity. A survey by the wealth management division of USB found 85% of women manage everyday expenses but only 23% take the lead when it comes to long term financial planning.

A 401k is the not the only option to save for retirement. If your employer offers a 401k that's great. If that is not an option, no worries because we have some solid ideas and ways you can save for retirement. We'll break it down and you can see what might be best for you and your savings.

Please stay with us. We have plenty of listener questions. We'll tackle as many as we can.

Some of these tips will sound familiar and some will sound new. Thanks to the Pandemic all ae considered essential and perhaps you should get started right away.

See where you are. Are you a "do it yourselfer?" (DIYS) Nothing wrong with that. It does require time and discernment to figure out what is helpful and what is of no value to you. When do you need an advisor.

If not then we have a service which may be of help to DIYS'

Some questions and my answers.

The new year is a great time to take a look at your retirement plan and make sure the plan is a go. On this episode we've got some tips that could give your plan a tune up.

Any Tax Deferred Account (TDA) is a partnership with the US Government. You are the dominant partner because you select the investments. The US Government is the junior partner because it shares in your gains in the form of taxes. We all have to pay our taxes, but we've got some strategies to potentially decrease the tax bill on those retirement accounts.

Most of us look forward to retirement. Things slow down and we get to do some of the things we've always wanted to do. Wait! There's much to it that just that.

We wrap up with questions l=from listeners and answers from me.