This week’s theme on the Retirement Quick Tips Podcast is: Retire…Never?

Today, I’m talking about why more Americans are saying never to retirement. 

According to the Employee Benefit Research Institute, 29% of workers expect to work to age 70 or like Jay Simons - the 100 year old attorney I talked about yesterday, have decided to never retire. 

In my own life, I can certainly name several people who worked well into their 70s and beyond. I have clients well into their normal retirement years who are still working. My dad turns 70 this year with no plans to retire, and my father in law still works part time at the age of 75. 

The WSJ profiled several readers in a recent article on this topic. What I found as the most common thread among why people continue to work past the normal retirement age came down to purpose and meaning in work, that they didn’t think they would have in retirement if they stopped working all together. 

Kristine Arlitt, age 73, said:

“I started formally working at 14. As I sit here today, age 73 and feeling like 30, I simply cannot imagine not working. I just enjoy it too much.

I made the decision a few years ago to change how I do it. I left my old firm and took control. Now, I select the clients, the cases I find interesting. I am now able to do a lot of pro bono work for people who simply cannot afford professional services but are desperately in need of them.

I enjoy being relevant, productive and making contributions. I enjoy being happy. I will continue to work as long as I am in control. Slowing down—YES. Changing how I work—ABSOLUTELY. Actually retiring—NEVER!”

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

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>>> 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

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 Retire…Never.

Today, many Americans are choosing the never option when it comes to retirement. 

Jay Simons (SI-muns), an 100 year old attorney still practicing law in Florida is an extreme example of this. 

[background/story about the 100 year old attorney] https://www.cbsnews.com/miami/news/at-100-years-old-south-florida-lawyer-may-be-oldest-practicing-attorney-in-the-state/ 

While the vast majority of Americans do retire sometime in their 60s, that may not be a decision you’re comfortable with, and it seems to be an increasing trend among Americans for a variety of reasons. So this week, we’ll explore the drivers behind people choosing the never retire option, and the pros, cons, and limitations of this decision.

That’s it for today. Thanks for listening! Come on back tomorrow where I’ll talk about…

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: Setting Up Your College Grad For Financial Success

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

• Teach Budgeting Best Practices

• Technology is Your Money’s Best Friend

• Paying Bills (On Their Own!)

• Helping Your Grad Focus On Long-Term Goals

• Building A Good Credit Score

The most important takeaway from this week is…

Tomorrow, I’m starting a brand new theme: Retire Never? 

A growing segment of Americans over 60 say they have no plans to retire, so next week we’ll talk about why more Americans will just keep working and some potential hazards with this no retire option. 

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: Setting Up Your College Grad For Financial Success

Today…

How to build a good credit score:

https://www.consumerfinance.gov/ask-cfpb/how-do-i-get-and-keep-a-good-credit-score-en-318/ 

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: Setting Up Your College Grad For Financial Success

Today…

Many college grads are more concerned with finding a job, buying a car, and paying down student loans then they are with saving for retirement. Those are all important goals, but the problem I see is that because retirement is still a long way off for your young adult child, saving for retirement is often dead last in their priority list. 

And then they’re 40 before it occurs to them to start saving for retirement. And it’s just not enough time for most. So start early, save consistently is the goal.

As their parent, you can help them prioritize the right goals and incentivize them to save for the long-term. 

A couple ways to go about doing that: 

• Gifting a few shares of a stock they’re interested in. My 5 year old loves Tesla cars. Don’t know why, he just does. Every time he spots one on the road (which is a lot) he shouts Tesla! Maybe for his 6th birthday I’ll buy him a few shares of Tesla stock :) 

• Same rules apply for college grads. Whether it’s their favorite Starbucks coffee, car company, or they’re in love with all things Apple, it’s a great way to get them interested in investing. 

• Better yet, match their IRA contributions and savings they’re able to sock away if you can afford to do that. 2023 Gift limits for these matching contributions allow you to provide matching contributions up to $17,000 per recipient, or $34,000 if you’re married and giving as a couple. 

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: Setting Up Your College Grad For Financial Success

Today…

• Setting up auto-pay for bills

• Why: Setting up your essential bills on auto-pay will help remove the stress of remembering to pay your bills. You can often have some control over when those bills are paid, allowing you to pay bills automatically shortly after your child gets paid, ensuring they’ll have the funds available to cover the basic and mandatory monthly bills

• Stop paying their bills. If you’re still helping with cell phone bills, car insurance, rent, and grocery money, it’s time to cut most or all of that off once they’re working. Talked about this before. Many 20 and 30 somethings are still dependent on mom and dad financially well after their schooling years end, and that creates problems for both them and you. 

• Stopping the deposits from the bank of mom and dad, will help ensure that your child is incentivized to work and find meaningful employment and a career of their own. Making it too easy for children to live comfortably with your assistance will not help them learn to manage their own money or be financially independent in the long-run.

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: Setting Up Your College Grad For Financial Success

Today, I’m talking about teaching your young adult child how to use technology to budget. Now I’d be willing to be your twenty something is a lot better at using the gram or tik tok, or whatever the kids are into these days. But chances are, they haven’t yet figured out how to apply those tech skills to their money, which is where you can help them.

Technology can be your child’s best friend when it comes to managing their finances. If you think about how different things were when you were there age, they have many more tools to help them be successful. Even I remember a time when it was cumbersome to know and track the status of my money in my checking account. But now, it’s all on my smart phone and I can see how much I have in my bank account all at my fingertips.

Taking it a step further, college grads who are learning to manage their money need to learn how to track their spending and spend within a budget. Yet, many college grads have no idea how to budget. So work with them to select a technology tool to help with that. Here is just a short list of some  popular options:

• Bank accounts - many will categorize spending to make budgeting easier

• Mint, for just about everything

• YNAB, for hands-on zero-based budgeting

• Goodbudget, for hands-on envelope budgeting

• EveryDollar, for simple zero-based budgeting

• PocketGuard, for a simplified budgeting snapshot

• Fudget, for budgeting without syncing accounts

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: httpstr://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: Setting Up Your College Grad For Financial Success

Today…I’m talking about the most important thing you can do to set your young adult child up for success: teach them how to budget. How to track their income coming in, spending and money going out, and make sure that the latter never exceeds the former. 

Some parents aren’t comfortable with helping their child in this area, because maybe you’ve never budgeted yourself or feel that your not great with money. Not to worry. 

There are so many amazing resources out there, and it can be an opportunity for learning together. As a graduation gift, pay for enrollment in an online or in person class to learn best practices. It can be something fun that you can learn and do together. 

If you and your grad love to read, there are great books on budgeting you can read and learn together, bonding over budgets! 

Most courses and books are inexpensive and the financial reward of understanding how to keep finances in check will serve them well for decades, with potential generational impact as they will be able to pass on what they learn and good financial habits to their own children. 

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 Setting Up Your College Grad For Financial Success

[Zero coupon bonds…a few thousand dollars of unused funds became the seed money for my retirement investments at age 22]

That’s it for today. Thanks for listening! Come on back tomorrow where I’ll talk about…

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: Top 5 Money Traps To Avoid

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

• Buy Now, Pay Later

• Debt Consolidation Loans

• Adjustable Rate Mortgages

• Timeshares

• 401(k) Loans

A couple of close contenders that didn’t make the cut: car leases, certain types of life insurance and annuities, and virtually any type of debt that’s not a mortgage: student loans, pay day loans, credit card debt, etc. 

The most important takeaway from this week is…the biggest money traps are almost always tied to debt. Whether it’s a 401k loan or a buy now pay later scheme, taking on more debt to fund a particular lifestyle comes home to roost eventually, and it’s concerning the amount of people who are still up to their eyeballs in debt, especially when you’re close to retirement. So pay attention and be aware of these money traps so you can steer clear. 

Tomorrow, I’m starting a brand new theme: Setting Up Your College Grad For Financial Success

It’s graduation season! If you have a child graduating college this year, congratulations! Many of you listening have a recent college grad, or a child (perhaps multiple children) who will be graduating college in the next few years. So with that in mind, I’m sharing with you my best ideas for how you can set up your college grad for financial success. 

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