Pension Attention

Would you board a flight that had a 70% probability of safely reaching its destination? How about 90%?

While these are odds we’d avoid if our life was on the line, many people blindly trust their retirement to a financial plan with similar numbers.

In this episode, I discuss why probabilities can destroy your finances, and factors you must consider to plan for retirement on your schedule and your terms.

Show Highlights Include:

• One crucial factor you must take into account in order for your future plans to succeed (5:23)
• The misunderstood third phase of retirement planning and how getting it wrong can destroy everything you’ve spent decades building (9:40)
• How to spend your retirement money without destroying everything you’ve decades building (9:40)
• The “Monte Carlo” approach to a profitable and sustainable retirement (15:35)
• How getting your “Distribution Rate” wrong could have you working until you die (17:00)

To schedule your free retirement tracking meeting, specifically for first responders, head to http://pensionattention.com/ or call us at 805-409-8150.

In 2022, you can now save $20,500 in a 401(k) instead of $19,500. While that doesn’t sound like a huge increase, it makes a huge difference over time with the right retirement strategy. 

How do you figure out the best retirement strategy for you? 

While following generalized advice helps more than doing nothing, the real magic happens when you have a tailored plan. 

In this episode, you’ll discover how to tailor your retirement strategy to maximize your nest egg (and minimizes your taxes). 

Listen to the episode now so you don’t have to worry about your finances when you retire. 

Show Highlights Include:

• 2 of the tax-friendliest vehicles to build your retirement nest egg (2:31) 
• The exact percentage of your income to save for retirement so you can retire when you want (without sacrificing your your enjoyment of life today) (4:14) 
• The “Anti-Oatmeal Approach” for saving for retirement without depleting your bank account (4:39) 
• The “Tailor Technique” for figuring out your unique investment strategy based on your specific retirement goals (6:10) 
• How to maximize your tax savings by minimizing your tax bracket (9:16) 
• Is a traditional 401(k) or Roth IRA better? Here's your answer (13:28) 

To schedule your free retirement tracking meeting, specifically for first responders, head to http://pensionattention.com/, call us at 805-409-8150, or text track to 805-409-8150.

Your rational and emotional minds are at war every day. When your emotional mind wins, it causes you to make boneheaded financial decisions that jeopardize your retirement. 

Changing your environment helps you take back control over your emotions set on destruction. In fact, even heroin-addicted veterans kick their addiction overnight when they change their environment.

In this episode, you’ll discover how changing your environment helps you make smarter financial decisions and protect your retirement.

Listen to this episode now before your emotions sabotage your retirement.

Show Highlights Include:

• How veterans kicking their heroin addictions overnight help you see better returns in the market (3:33) 
• The insidious way subliminal messages in the media sabotage your retirement nest egg (5:20) 
• How your emotions dupe you into making boneheaded financial decisions when you know better (and how to gain control over your emotions) (6:24) 
• How to adjust your investment portfolio when the media won’t shut up about market downturns, volatility, and variability so you don’t undermine your retirement (7:09) 
• The subtle “anti-emotion” mindset shift that gives you control over your emotions and protects your investments (8:54) 
• The “Double D” investing strategy that maximizes your savings in retirement (9:29) 
• Why you don’t need any more self-control than an addict to make more profitable financial decisions (13:08) 

To schedule your free retirement tracking meeting, specifically for first responders, head to http://pensionattention.com/, call us at 805-409-8150, or text track to 805-409-8150.

Do you procrastinate with your Christmas shopping? Forbes wrote an interesting article a few years ago explaining why men wait until the last minute to start their Christmas shopping. While women start Christmas shopping as early as December 26th the year before. They found that men procrastinate because deep down they’re perfectionists. And this reminds me about how most people approach their financial plan. Many people put off their retirement plan because they’re waiting for a massive bear market or for some other silver lining to start. But the most successful people understand that starting now gives you the best chance to grow your wealth. In this episode, you’ll discover why procrastinating ruins your returns — whether you’re building a financial plan or shopping for Christmas. Listen to the episode now so you can enjoy your retirement instead of worrying about your finances.

Show Highlights Include:

• Why waiting until the last minute to do your Christmas shopping can wreck your retirement portfolio (3:58)
• Alexander Graham Bell’s secret for maximizing your retirement portfolio (7:55)
• How life puts up roadblocks that stop you from doing your most important tasks (and the mindset tweak needed to get your most important things done) (8:19)
• The “Just Build It” strategy for planning your retirement that obliterates your overwhelm (9:47)
• How figuring out your “why” today helps you take lavish retirement vacations as often as you like (12:26)

To schedule your free retirement tracking meeting, specifically for first responders, head to http://pensionattention.com/, call us at 805-409-8150, or text track to 805-409-8150.

There’s a popular retirement ad that asks retirees what their retirement “number” is. This approach to retirement makes sense — and it’s generally better to have more savings than less. 

But that isn’t always the case. There’s something more important than your savings. And that’s how much income you make from your savings. 

In this episode, you’ll discover why setting a retirement income goal helps you enjoy your retirement while a savings goal makes you worry you’ll run out of money. 

Listen to the episode now so you can live your retirement to the fullest. 

Show Highlights Include:

• Why following the popular “what’s your number?” TV ad can force you to get a job in retirement (5:41) 
• Should you have a savings goal or an income goal in retirement? Here’s the answer so you enjoy your retirement (7:20) 
• The cold, hard truth about why so many retirees can’t enjoy their retirement (and how to avoid this) (8:07) 
• Why being afraid of running out of your retirement money steals your retirement memories (8:28) 
• The counterintuitive way aiming for a million dollar nest egg makes you complacent and ruins your returns (9:25) 
• The “Moving Target Method” for setting your retirement number that prevents you from running out of cash (11:12) 
• Why you might have enough savings today to retire right now (even if you haven’t hit your “number” yet) (14:45) 

To schedule your free retirement tracking meeting, specifically for first responders, head to http://pensionattention.com/, call us at 805-409-8150, or text track to 805-409-8150.

Political arguments pop up around Thanksgiving dinners all over America. But the point of Thanksgiving is to come together despite our differences. 

Dating back to the first ever Thanksgiving, it’s been a celebration that we all benefit from coming together — especially when we disagree. 

The truth is, you can’t have financial freedom without political freedom. And that means caring for and defending others you disagree with. 

In this episode, you’ll discover the true importance of Thanksgiving. And how you can get along with other people in your family despite your differences. 

Listen to the episode now. 

Show Highlights Include:

• How the first Thanksgiving helps you avoid pointless political fights with your family over the holiday season (4:37) 
• Why Thanksgiving helped America reunite after the Civil War (6:17)
• How inviting your friends to your Thanksgiving feast makes you feel even more grateful (7:36) 
• Why caring for and defending others is the foundation of our great nation (even when you disagree) (9:31) 
• How political and financial freedom go hand in hand to help you thrive (10:16) 

To schedule your free retirement tracking meeting, specifically for first responders, head to http://pensionattention.com/, call us at 805-409-8150, or text track to 805-409-8150.

Inflation is real and it’s here. The 5.4% rise in the Consumer Price Index over the last year is the highest in 13 years. You notice inflation’s insidious impact every time you fill up your tank or buy a cup of coffee. But how big a threat is inflation to your portfolio? Let’s pretend you have $60k today. In 20 years, that $60k would only be worth $33k! Inflation is devastating to your portfolio. But it doesn’t have to be. In this episode, I reveal how to counteract inflation. And the importance of having a retirement plan that protects you from inflation.

Listen to the episode now and shield your hard-earned money. Show Highlights Include:

• The “Printing Phenomenon” responsible for skyrocketing inflation (3:37)
• The 2 root causes of our record-breaking inflation (4:36)
• Here’s how an average annual inflation rate of 3% over 20 years almost cuts your income in half (8:28)
• Why supply chain-induced inflation makes everything more expensive forever (11:33)
• The insidious way being scared of the market gobbles more of your money than making some bad investment decisions (14:21)
• Why the stock market, real estate, and crypto can “cancel out” inflation’s money-eating impact (15:36)

To schedule your free retirement tracking meeting, specifically for first responders, head to http://pensionattention.com/, call us at 805-409-8150, or text track to 805-409-8150.

Are you thinking about buying your first home or moving up into a better home? 

Most of my clients #1 expense is their housing. Buying (or upgrading) a house is a big decision that comes with a lot of peer pressure. 

To make matters worse, paying too much for your home can cripple your financial future. And paying too little for your home makes you feel like you’re living in an inescapable nightmare. 

That’s why I recommend everyone thinking about buying a home to ask the 3 questions I discuss in today’s episode. 

Listen to the episode now before you make a decision you might regret later! 

Show Highlights Include:

• Why listening to Dave Ramsey about mortgages sacrifices your financial freedom and happiness (2:58) 
• The “50/30/20 Rule” for managing your budget (without overpaying or underpaying for anything) (8:03) 
• The downside of owning a home — especially as a young person (9:49) 
• 6 “hidden” expenses of owning a home that most people don’t think about (10:03)
• What percentage of your income should go towards your mortgage? Here’s the answer… (11:52) 
• Why living in a home for less than 7 years almost guarantees that you won’t make money when you sell it (12:53) 

References: Kipling

To schedule your free retirement tracking meeting, specifically for first responders, head to http://pensionattention.com/ or call us at 805-409-8150.

While the market continues to reach all-time highs, it won’t always be that way. When the market goes down, it’s easy to let your lizard brain corrupt all your investments and ransack your returns. That’s why it’s important to have a strategy for down markets before they happen. Don’t get me wrong. I’m not saying that the market will crash anytime soon – and nobody can predict downturns with certainty. But having a plan in place helps maximize your returns even in down markets. In this episode, you’ll discover the top 5 moves to make to protect your money when the market turns. Listen to the episode now and make your plan before the market swings. Show Highlights Include:

• How your emotions thwart your returns in the stock market (2:36)
• The weird psychological “glitch” in the human brain that wants to devour your returns (3:55)
• The counterintuitive “dollar cost averaging” strategy for investing more when the stock market crashes (4:56)
• How to “get away” with adding to your tax-free Roth IRA (without increasing your tax bill this year too much) (9:09)
• Hate paying high taxes? This unusual “tax loss harvesting” method can cut your tax bill in half (10:39)
• 5 strategies to consider when the market’s down that neutralizes your emotions and helps you retire sooner (13:46)
• 4 of the best sectors to invest in during volatile times (15:51)

References: Kipling

Are you thinking about moving to a new state?

Many clients I’ve talked to recently either have already moved to a new state or are considering it. While people move for a variety of reasons, there’s a mass exodus out of some states — for both active and retired first responders. 

Why? 

Well, many states come with some great tax advantages especially for retirees. 

In this episode, I reveal the 9 states in America that have no state income tax. And I guide you through some of the other pros and cons from a tax perspective in each of these 9 states. 

Listen to the episode now before you decide on which state to move to.  

Show Highlights Include:

• Do you live in California or New York? Here’s an obvious way to earn 7% more -- at the bare minimum -- overnight (3:39) 
• The 9 states in America with no state income at all (4:24) 
• The “Community Secret” for making moving out-of-state more enjoyable that nobody ever considers (6:54) 
• The real reason why Florida is the most popular retirement state (and why it’s not the most tax-friendly) (9:25) 
• How Nevada offers retirees the “jackpot” of tax savings (11:01) 
• The 4 most popular retirement states for active duty and retired first responders living in California (13:38) 
• The weird reason Texas is one of the least tax-friendly states for retirees according to Kiplinger (and why you should still consider moving there) (17:46) 
• The “Oil and Mineral” reason why Wyoming has one of the lowest state and local tax burdens in America (22:22) 

To schedule your free retirement tracking meeting, specifically for first responders, head to http://pensionattention.com/ or call us at 805-409-8150.

References: Kiplinger