When it comes to retirement spending habits and peoples’ expectations for the expenses they’ll incur in retirement, and the amount they need to save now to cover those expenses later, the picture is often pretty cloudy. This show seeks to provide clarity by examining retirement spending habits and expenses, revealing the specific expense categories and line items that go into projecting one’s retirement expenses, where people can expect their expenses to rise and to fall, and how having a clearer understanding of retirement expenses can help inform an income strategy that hopefully provides them the means to fulfill their goals and dreams in the next phase of life.

People, regardless of their age or stage of life, must find an appropriate balance between growth and protection inside their retirement nest egg. With retirement looming close or already here, a person may need to adjust their mindset and their retirement strategy to reflect the new financial realities and reordered priorities that often accompany the next phase of life. How to determine the right balance between growth and protection, risk and reward, in that strategy? How to build growth potential into a nest egg, without assuming an inordinate level of risk? And how to complement that growth potential with an adequate level of protection? In providing answers to these questions, this show details a balanced approach to positioning and managing one’s nest egg so it produces a comfortable level of income for as long as it’s needed during retirement.

People, regardless of their age or stage of life, must find an appropriate balance between growth and protection inside their retirement nest egg. With retirement looming close or already here, a person may need to adjust their mindset and their retirement strategy to reflect the new financial realities and reordered priorities that often accompany the next phase of life. How to determine the right balance between growth and protection, risk and reward, in that strategy? How to build growth potential into a nest egg, without assuming an inordinate level of risk? And how to complement that growth potential with an adequate level of protection? In providing answers to these questions, this show details a balanced approach to positioning and managing one’s nest egg so it produces a comfortable level of income for as long as it’s needed during retirement.

How do you know if your retirement portfolio is really ready for action? Does it have the stamina to last as long as you do? Does it have the diversity and liquidity to withstand taxes? Market volatility? Inflation? What about the income sources to cover health care, let alone your day-to-day expenses? It’s a lot to consider. But so are the ways a plan can be derailed. And because we don’t have a crystal ball to show us what the future has in store, we need to plan for and build flexibility into our portfolios. Today’s show explains to listeners how to construct a retirement strategy that is not only built to last, but flexible enough to accommodate life’s — and the market’s — ups and downs.

People need income during retirement, not just to pay the bills but to fulfill the vision they have for the next phase of life. And the greater the share of that income that is actually “guaranteed” in terms of both timing and amount, the more confident a person can will be about not running out of money in retirement. This show explains why having guaranteed sources of income for retirement is important, while also detailing the possible sources to access guaranteed income, with suggestions for how to effectively manage those income sources — Social Security, pension, 401(k), bank accounts, and perhaps, annuities — so they all fit together into a coherent retirement income portfolio.

Ruth Rose (CPA - Masters In Tax) and Mark Walsh (Estate Planning Attorney) join David Epstein discussing retirement income planning and being tax efficient now that the year is half over.

Fear is a real phenomenon — jump-out-of-your-seat real. Just watch movies like “Rear Window” and “Jaws.” But what about the fears having to do with retirement? That is, fears about how you’re going to pay for it all? Not just the cost of travel cruises and golf outings, but other expenses, expected and not, from monthly bills to health care and medical costs. Covering it all for as long as you live — that’s an issue that strikes fear into plenty of retirement-minded people. This show explains how to face and overcome these fears by addressing the unknowns that cause them: How much will I need? How long will I live? Will I need care, long term? The antidote to fear in this case is a nest egg that is diverse and built to provide an income stream that meets your needs, right through retirement.

When preparing for retirement, there are a lot of calculations for when you are “ready.” Is it a date on the calendar? An income goal? A number on a financial statement? A combination of all three? Regardless, to make any of them work the way you want, you should have a plan for your numbers and how you will spend them. From a budget to a comprehensive look at your insurance coverage, there are a lot of ways to get a handle on what you are or could be spending in retirement, but bottom line: It’s important that, when it comes to your retirement spending, you have a game plan.

It’s well known that Americans — and indeed populations around the globe — are living longer than ever. With this news comes some added challenges. Living longer doesn’t always mean living healthy for longer. And, even if you maintain your health, a longer life still means a longer retirement. As health care industry inflation outstrips the standard rate of inflation, the bottom line for increasing longevity is that funding a retirement that could last 30 years — or more! — is a challenge. From annuities to delayed retirement, there are numerous strategies to combat the challenges of longevity, if one only knows where to look.

You’re old enough for a driver’s license. You qualify for banking accounts and preferred credit cards. You can rent an apartment and lease a rental car. Maybe you even got the cheesy over-the-hill pun cards several birthdays ago. So, at this point, counting birthdays either becomes mundane or dreadful, depending on how you feel. Yet, aside from the fun of any parties, there are many financial reasons to keep tabs on your age. Some milestones fluid – like retiring at 65. Others are ironclad (go ahead and try skipping your RMDs after 70 ½ and your tax penalties will tell you whether Uncle Sam was watching). Either way, it’s important to keep an eye on the calendar, even past what we may consider the “fun” birthdays.