Welcome to a new week here on the Retirement Quick Tips podcast! I’m your host Ashley Micciche, co-owner of True North Retirement Advisors, an independent financial advisory practice managing $340 million in client assets. I’m a Chartered Retirement Planning Counselor and I’m using my 15 years of experience as a financial advisor to help you gain clarity and make a plan for the retirement you envision.

On this podcast, I cover everything from investing, to retirement spending, to taxes in retirement in just a few minutes each day, so if you’re 5-10 years on either side of retirement, and looking for some daily doses of retirement planning wisdom, stick around this week as I talk about the 10 things you must do before retirement. This week I’ll be covering part 1, and we’ll continue with part 2 of this theme next week. 

Thinking through all the things you should do before you retire can seem overwhelming. But if you focus on doing the right things and start far enough in advance - usually about 2-3 years before you retire - you’ll be better prepared to transition into retirement and you’ll be able to tackle each item without falling behind. 

I’ve helped many clients over the years with their transition into retirement, so I’ve seen first hand when they get it all right and when they step on landmines…often landmines that could have been avoided with careful planning. 

So this week, I’ll be sharing with you everything from deciding where you’ll live to how much you should increase your emergency savings and why you need to boost it prior to retirement. 

That’s it for today. Thanks for listening! Come on back tomorrow…where I’ll talk about the importance of deciding where you’ll live in retirement before you actually retire. 

My name is Ashley Micciche...and this is the Retirement Quick Tips podcast.

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>>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Visit the podcast page: https://truenorthra.com/podcast/ 

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance

It’s Sunday, which means...it’s recap time here on the Retirement Quick Tips Podcast

This week the theme was: 10 Things You Must Do Before Retirement - Part 1

In case you missed any episodes, here’s what we discussed this week…

• Make Sure You Have Enough Money To Retire
• Create a Retirement Budget & Withdrawal Strategy 
• Estimate How Much You’ll Spend on Health Care
• Plan Your Social Security Filing Strategy 
• Pay Off All Debt (Yes, Your Mortgage Too!)

The most important takeaway from this week is…There are several things you can do today to prepare yourself for retirement, and when you focus on the right things - the things that will have the biggest impact for you in retirement, it will help set you up for a successful and smooth transition into retirement. 

Tomorrow, we’re continuing with part 2 and 5 more must do things you’ll want to tackle before retirement. 

Thank you so much for listening this week! If you’re enjoying the podcast, chances are someone else you know who is getting close to retirement could also benefit from checking it out, so please share the show with a friend, a neighbor, your sister, or your boss. Just go to your favorite podcasting app, hit the share icon, then text or email the show link to someone you know who is eyeing retirement. 

Thanks for sharing the love and spreading the word. I hope you have a blessed Sunday. My name is Ashley Micciche, this is the Retirement Quick Tips Podcast.

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>>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Visit the podcast page: https://truenorthra.com/podcast/ 

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance

This week’s theme on the Retirement Quick Tips Podcast is: 10 Things You Must Do Before Retirement - Part 1

Today, I’m talking about planning your social security filing strategy.

What age will you start taking social security? Will you start as early as possible when you retire? Perhaps wait a couple years and plug the gap with higher withdrawals in the first couple years of retirement? Or will you wait until age 70 to start in the hopes that you’ll live long enough to maximize your monthly and lifetime income from SS? 

These are all viable options, and the best choice is hard to determine up front, because it’s largely based on your income needs - i.e. do you need to start social security right away or can you afford to wait? Many people simply can’t afford to wait and need to start the income stream from SS as soon as they retire. Others have other income and asset sources to draw from, making the decision a bit more complicated. 

The other tricky factor is that none of us know our expiration date, so if you knew in advance that you would live to 75, or 85, or 95, it would make the decision a lot easier. But you can look at your health and your family health history to help you determine a realizstic life expectancy to help make the best decision.

[Explain what we do with clients in side-by-side analysis]

Generally, the longer you expect to live, and the higher your SSI benefit amount will be, the more it makes sense to wait. Doing so will maximize your monthly and lifetime income. 

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.  

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>>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Visit the podcast page: https://truenorthra.com/podcast/ 

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance

This week’s theme on the Retirement Quick Tips Podcast is: 10 Things You Must Do Before Retirement - Part 1

Today, I’m talking about estimating How Much You’ll Spend on Health Care Costs

• Especially if you retire before 65, but even if you’re covered by Medicare, the costs can vary widely depending on a number of factors, so make sure it’s included in your retirement budget
• How to calculate this cost:
1. online resources and estimators to help you
2. Talk to a health insurance broker who specializes in retirement and medicare health care coverage - just had one on the podcast a few months ago - Tim Becker
3. Costs based on a number of factors so it’s important to estimate these costs and work them into your monthly retirement budget 
   1. Type of health insurance coverage and plan you pick
   2. Premiums and out-of-pocket expenses
   3. Other factors (like income, age, health status, marital status, state of residence, etc.
4. Then make sure it’s included in your retirement spending budget that I discussed yesterday

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.  

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>>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Visit the podcast page: https://truenorthra.com/podcast/ 

----------

Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance

This week’s theme on the Retirement Quick Tips Podcast is: 10 Things You Must Do Before Retirement - Part 1

Today, I’m talking about creating a Retirement Budget & Withdrawal strategy. This budget should account for: 

• Monthly expenses - how to start tracking (3 mos) 
• Annual spending (so you don’t forget one-time or non-monthly expenses like your insurance or property taxes)
• Wants like travel
• Include one-time expenses like buying a new car, remodel, weddings, etc.

Part of the budgeting process should also include which accounts will you draw income from and when (discuss order of withdrawals) 

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.  

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>>> Subscribe on Apple Podcasts: httpstr://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Visit the podcast page: https://truenorthra.com/podcast/ 

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance

This week’s theme on the Retirement Quick Tips Podcast is: 10 Things You Must Do Before Retirement - Part 1

Today, 

• Do a thorough retirement analysis 
• According to Schwab's Modern Wealth Index survey, over half of Americans with a written financial plan feel "very confident" about reaching their financial goals, compared to only 18% of those without a plan. 
• Go through the process of creating a financial plan for retirement 2-3 years before you retire (explain why)
• Discuss the retirement success forecaster - www.truenorthra.com/retirementsuccess/ 

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.  

----------

>>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Visit the podcast page: https://truenorthra.com/podcast/ 

----------

Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance

Welcome to a new week here on the Retirement Quick Tips podcast! I’m your host Ashley Micciche, co-owner of True North Retirement Advisors, an independent financial advisory practice managing $340 million in client assets. I’m a Chartered Retirement Planning Counselor and I’m using my 15 years of experience as a financial advisor to help you gain clarity and make a plan for the retirement you envision.

On this podcast, I cover everything from investing, to retirement spending, to taxes in retirement in just a few minutes each day, so if you’re 5-10 years on either side of retirement, and looking for some daily doses of retirement planning wisdom, stick around this week as I talk about the 10 things you must do before retirement. This week I’ll be covering part 1, and we’ll continue with part 2 of this theme next week. 

Thinking through all the things you should do before you retire can seem overwhelming. But if you focus on doing the right things and start far enough in advance - usually about 2-3 years before you retire - you’ll be better prepared to transition into retirement and you’ll be able to tackle each item without falling behind. 

I’ve helped many clients over the years with their transition into retirement, so I’ve seen first hand when they get it all right and when they step on landmines…often landmines that could have been avoided with careful planning. 

So this week, I’ll be sharing with you everything from how to estimate your health care costs to planning for when you’ll file for social security - even if that’s not at the same time as when you retire. 

That’s it for today. Thanks for listening! Come on back tomorrow…where I’ll talk about the most important thing you must do before retirement…if you only do one thing, make it the thing I’ll talk about tomorrow. 

My name is Ashley Micciche...and this is the Retirement Quick Tips podcast.

----------

>>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Visit the podcast page: https://truenorthra.com/podcast/ 

----------

Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance

It’s Sunday, which means...it’s recap time here on the Retirement Quick Tips Podcast

This week the theme was: Financial Resolutions and goals for 2023

In case you missed any episodes, here’s what we discussed this week…

• Picking the goal that matters most
• SMART framework for creating goals
• 10 ideas for financial goals you can start implementing in 2023
• Anti-resolutions (or a stop doing x) for 2023, because sometimes the best goal or resolution is to take something off our plate, rather than add something new. 

The most important takeaway from this week is…a month into the new year is a great time to re-evaluate your goals for the year, and make sure you’re setting yourself up for financial success for the new year. Hopefully I helped provide you with a framework for setting goals, and some good ideas for financial goals you may want to consider that will be meaningful for you in 2023 and beyond. 

Tomorrow I’m starting a brand new weekly theme: 10 Things You Must Do Before Retirement

I’m sharing with you the top 10 things that everyone should do before they retire. I speak from experience and in working with clients for over 15 years, helping many people transition into retirement, and I see firsthand the successes and the mistakes people make when transitioning into retirement, so next week I’ll help you with some preventive medicine with what you can and should do before retirement to set yourself up for success and avoid some common mistakes. 

Thank you so much for listening this week! If you’re enjoying the podcast, chances are someone else you know who is getting close to retirement could also benefit from checking it out, so please share the show with a friend, a neighbor, your sister, or your boss. Just go to your favorite podcasting app, hit the share icon, then text or email the show link to someone you know who is eyeing retirement. 

Thanks for sharing the love and spreading the word. I hope you have a blessed Sunday. My name is Ashley Micciche, this is the Retirement Quick Tips Podcast.

----------

>>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Visit the podcast page: https://truenorthra.com/podcast/ 

----------

Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance

This week’s theme on the Retirement Quick Tips Podcast is: Financial Resolutions For 2023

Today, I’m talking about a new trend for goals and resolutions that I’ve seen more of in recent years: The anti-resolution. In fact, I came across this just a few weeks ago in the WSJ: https://www.wsj.com/articles/throw-out-your-new-years-resolutions-try-these-antiresolutions-instead-11672705706 

Alex Janin, the author of the article states: “Millions of people spend the final days of December coming up with ambitious tasks for the new year. In 2023, resolve to take something off your plate instead.”

An interesting a worthwhile consideration for 2023, is to remove something from your life, your goals, or your to-do list that is not worthwhile or perhaps even stressing you out. Some specific recommendations from the article include: stop weighing yourself, and stop spending money on fitness (whether that’s a gym membership or an app, or a fitness watch you never use). 

So it’s an important concept and something to consider, especially if you’re like me and you tend to take on too much, load up your goals and to do list, only to fail because you just couldn’t get it all done. The nice thing about the anti-resolution or the stop doing this goal, is that it frees you up more to focus on what really matters, since when you say no to one thing, it allows you to say yes to something else that is more important. 

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast. 

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>>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Visit the podcast page: https://truenorthra.com/podcast/ 

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance

This week’s theme on the Retirement Quick Tips Podcast is: Financial Resolutions For 2023

Today, I’m continuing from yesterday’s episode with a few more ideas for worthwhile financial goals in 2023. 

1. Increase retirement savings - get specific on this one. Save a specific % of income. Max employer match, start saving in a HSA and max that out, increase retirement savings to new limits for the year.
2. Create a long-term financial plan: If you feel like you need some direction and clarity with your finances but you’re already in a strong financial positon, then 2023 is a great year to create or update your financial plan. A comprehensive financial plan will address how you approach important decisions like when you should retire, and when you should start drawing SSI, to how your portfolio should be allocated between stocks and bonds, to when you should consider a Roth conversion or the remodel on your bathroom. In my opinion, it’s essential that you create a comprehensive financial plan before retirement. We do this for our clients, and if you’re a DIY investor or you work with a financial advisor, you can and should get a plan in place. 
3. Ditch your bank - not completely, just with the excess cash you have. The interest rates on savings accounts are terrible, so look for somewhere you can stash your cash and earn a better rate. If you have brokerage and investment accounts, that’s where I’d start, since many financial institutions offer money market accounts and short-term CD rates far better than the pennies you’re still earning on your bank account savings
4. Create or update your will/trust/estate plan - I am continually surprised how few people have an up to date estate plan, so if that’s you, you’re in good company, but it doesn't mean you should continue with a woefully out of date estate plan. 

• Create a financial inventory - accounts, insurance policies, estate documents, information for bank accounts, safe deposit boxes…creating a financial documents master binder 

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.   

----------

>>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Visit the podcast page: https://truenorthra.com/podcast/ 

----------

Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance