Are you planning for retirement all wrong? Money Not Math 110

The biggest risks in retirement and the mistakes we make when planning for them

The 5 big retirement risks

· Longevity risk — the risk you’ll outlive your money

· Market risk — the risk of volatility in the stock market and housing market

· Health risk — the risk of unexpected medical expenses and long-term care needs

· Family risk — the risk of things like divorce, the death of a spouse or partner and adult children becoming ill or unemployed

· Policy risk — the risk of the Social Security Trust Funds’ insolvency, leading to a 20% to 25% reduction in retirement benefits if there are no policy changes

What people fear most vs. the reality

The longevity goof we make

Market risk: Real, but not as bad as you may think

How stable lifetime income can help

- “Congress Set To Pass SECURE Act At Last Minute, Impacting Retirement Planning And Increasing Taxes.” Money Not Math https://youtu.be/0Bv-QVAc97c

Planning for health risks in retirement

What are YOU worried about?

I’d love to know: What retirement risks are you most worried about, and what are you doing about them?

#5stonefinancialgroup #moneynotmath #retirement #money #investing #longevity #market #health #family #policy #risk

Article referenced: https://www.marketwatch.com/story/you-may-be-planning-for-retirement-all-wrong-11660769394

Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.

YouTube: https://youtu.be/zCtYG15jtCo

The Difference Between a Forecast, a Wish, and a Worry. Money Not Math 109

Are you familiar with the difference between a forecast, a wish, and a worry?

What are you basing your long-term retirement planning decisions on?

“But when it comes to investing, it’s crucial to remember the difference between news and opinion, and how they are sometimes used to forecast the future.” – David Booth

“Do you really want to invest your hard-earned savings – the money you’ll need for your kids’ college or your own retirement – based on someone’s hunch or wish?

Highlighting the Article by David Booth, Executive Chairman and Founder of Dimensional on dimensional.com

#5StoneFinancialGroup #MoneyNotMath #Retirement #RetirementPlanning #forecast #wish #worry #stockmarket #investing

The Cost of Trying to Time the Market. Money Not Math 108.

“The effect of being out of the market for even a short time can be profound—missing a period of strong returns can drastically impact overall performance.”

Did you know that missing just one week in the stock market can cost you over 16% of your investment potential?

#5StoneFinancialGroup #MoneyNotMath #Retirement #StockMarket

Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.

YouTube: https://youtu.be/ifEiXIixdJo

Is there light at the end of the Inflation Tunnel? Money Not Math 107

How has inflation affected you the most? Please comment to let me know.

At some point over the past year, the financial media’s inflation coverage transitioned

from, “Will this high inflation persist?” to, “Here’s how to cope with inflation that’s here

to stay!”

“This might be the market’s way of telling us it sees inflation getting under control in the near future.”

Please comment with your thoughts on this conversation, questions about inflation, and requests for future money not math conversations.

#moneynotmath #5stonefinancialgroup #inflation #media #retirement #market #control #BEI #CPI #ConsumerPriceIndex

Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.

YouTube: https://youtu.be/iAy5qOYcBr0

What is more valuable to you? Your time or your money? Money Not Math 106

Which are you more likely to give? Your time or money?

Do you associate your time spent outside of work with a monetary value?

#5stonefinancialgroup #moneynotmath #money #time #value #retirement

YouTube: https://youtu.be/npnu593U8wI

10 Things You Should Know about Social Security Benefits and How They May Affect Your Retirement Planning. Money Not Math 105

1) Is Social Security just for retired workers?

2) At what age can I start collecting benefits?

3) How do I sign up for Social Security?

4) How long do I need to work to become eligible for benefits?

5) Must I stop working to collect retirement benefits?

6) How much will I get from Social Security?

7) What’s the maximum monthly Social Security benefit?

8) How can I boost the amount of my benefit?

9) Can I receive Social Security benefits based on an ex-spouse’s earnings?

10) When someone dies, how does Social Security know?

+ Do you know how your social security will be taxed based on your other taxable income in retirement?

#5StoneFinancialGroup #MoneyNotMath #Retirement #SocialSecurity #retired #benefits

https://www.aarp.org/retirement/social-security/info-2020/social-security-questions-answered.html#:~:text=For%20retirement%20benefits%2C%20at%20least,be%20lower%20for%20disability%20benefits.

Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.

YouTube: https://youtu.be/2uon3YpvZiM

2 Top Takeaways on the stock market from the 2022 Morningstar Investment Conference. Money Not Math 104

According to Morningstar.com, The Morningstar Investment Conference delivers their signature research, insights, and analysis to professionals who want to empower investor success.

Remember the value in following fundamentals rather than emotions when it comes to long term investing. Fundamentals= buy low and sell high. Emotions= buy high and sell low until you are broke and there is no where to go.

#5stonefinancialgroup #moneynotmath #retirement #retirementplanning #stockmarket #investment #bearmarket #risk #recession #stockprice #reward #opportunities #value #fundamentals #emotions #buylow #sellhigh #money

Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.

YouTube Video: https://youtu.be/VHeNakzWDr4

Whose game are you playing? Money Not Math 103.

Whose financial future and retirement are you planning for?

Would you buy the exact same clothes that I wear if I loved them?

One of the biggest mistakes I see people make when it comes to building and implementing their retirement plans is doing what their friends, family, or person they had beers with at the bar were doing because it "was working" for them. Don't end up like so many and do something because others are doing it and then kick yourself in the future because it didn't work for you. Don't feel bad if you have already fallen victim to this (I have done it too). We can't change the past, but we can certainly change how we build for the future.

"If you don't like something, change it. If you can't change it, change the way you think about it." - Mary Engelbreit

#moneyotmath #5stonefinancialgroup #retirement #golf #clothes #money #investments

Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.

YouTube video: https://youtu.be/kzgTDnRumJY

6 Retirement Planning Issues Most People Make and How to Avoid Them. Money Not Math 102

“Get your expenses under control, start saving more, and diversify your assets. It’s the only way to enjoy a comfortable life after you retire.” - https://www.nasdaq.com/articles/6-retirement-planning-issues-most-people-make-and-how-to-avoid-them

Social Security Estimator https://www.ssa.gov/benefits/retirement/estimator.html

Youtube: https://youtu.be/7CQ8KDwmkL8

Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.

#retirement #retirementplanning #retirementissues #moneynotmath #5stonefinancialgroup #saving #diversify

Laura Stengrim’s best financial lessons learned and advice. Money Not Math 101 clip

What are the greatest business and financial lessons Laura- Social Butterfly- has learned?

What advice would she give to other business owners?

Would social media management and marketing add value to your business?

#moneynotmath #money #business #consistency #overheadcosts #timemanagement #family #corevalues

This clip’s video= https://youtu.be/UwlseJfzuIo

Full episode video= https://youtu.be/j2M6UXGQE7s

Full episode podcast= https://anchor.fm/drew-erickson7/episodes/The-value-of-social-media-marketing-for-small-businesses-with-Laura-Stengrim---Social-Butterfly--Money-Not-Math-101-e1anjs1