In this episode, Tim Regan and Katie Umland talk 401(k)s, Social Security benefits and pensions – including how you can use all three to get the most out of your retirement savings.

Are you wondering how to finance your retirement?

For most people, adding money to a savings account each month just isn’t going to cut it. Rather, you need to know the various “tools” available for retirement savings – which can help your money keep pace with inflation and grow over time.

This episode is chock-full of helpful retirement financing tips. You’ll learn the benefits of drawbacks of popular retirement accounts like Roth IRAs, 401(k)s and pensions. Plus, hosts Tim Regan and Katie Umland dive into practical tips you can use to increase your chances of success.

Plus, listen in as Regan and Umland share common misconceptions about these accounts – such as the idea that Social Security must be collected at a certain age.

"When you think about retirement, don't link when I retire with when I collect Social Security,” says Regan. “Decouple that thinking and say, ‘When I want to retire does not have to necessarily correspond or coincide with when I collect Social Security.’"

You’ll also learn:

• How much of your income you should save each year for retirement
• How to gradually increase that amount to build savings momentum
• Why you should employ a split-contribution strategy to your retirement savings accounts

Financing your retirement is an essential part of securing your financial future. By following the steps outlined in this episode, you can make sure that you are taking the right steps to save for retirement and increase your odds of having enough money to live comfortably and securely during your retirement years.

Start Building Your Plan Today

Everyone knows that when it comes to retirement planning, time is your best friend. Don’t wait to start building your retirement plan – connect with a financial planner at PrairieWealth Partners to get started today.

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An extra $100 a month could go a long way in helping you reach your financial goals – but how easy is it to get that extra dough?

This week’s episode tackles money-saving tips you can use to start saving more each month. Everyone likes to save money – but that’s often easier said than done.

A big part of the savings process is intentionality in your spending. After all, it’s easy to grab those little goodies each time you’re shopping at Target, but how do those small purchases add up over time?

This week, Founder Tim Regan and Head of Marketing Katie Umland round up seven clever ways you can stash some extra cash each month.

While some of these tips are as simple as downloading an app, others require an intentional lifestyle shift toward a “saving” rather than “spending” mindset.

For example, you can set up multiple direct deposits with your employer – one to your checking account as per usual, and another that deposits a certain amount in your savings account each month. With this process, you don’t ever have to worry or wonder about whether your money made it to savings. You can find other ways to save closer to home as well.

For instance, limiting your coffee purchases to twice a week rather than three times a week can save you money and still allow you to enjoy the occasional splurge. Every time you choose to skip the coffee, put the money you would have spent into your savings account.

It’s a little win that also emphasizes intentionality behind your spending and saving. Making lifestyle changes to prioritize your long-term goals is an effective way to save money. It requires you to be intentional about your spending and make conscious decisions about where to invest your money.

Click here to connect with a member of the PrairieView Wealth team.

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Website: https://prairieviewwealthpartners.com/

Check out other episodes of the Retirement Readiness Podcast!

Start taking control of your debts and save money by avoiding the common mistake of letting monthly payments get out of hand with minimum payments.

Find out why you should never let that happen, plus how to gain long-term relief from debt here!

Click here to connect with a member of the PrairieView Wealth team.

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Website: https://prairieviewwealthpartners.com/

Check out other episodes of the Retirement Readiness Podcast!

Living alone as a senior can be a socially isolating experience for many.

Luckily, the options for senior living communities are ever-expanding, with a drastically different landscape than just a few decades ago.

Kevin McGee of Smith Senior Living Communities is taking a new approach to assisted and independent living through "life plan communities," which ensure each and every resident is prepared for the future.

Tune into today's episode to learn more about Smith's communities, as well as what you should look for in a forever home for yourself or your loved ones.

Click here to connect with a member of the PrairieView Wealth team.

LinkedIn: https://www.linkedin.com/company/prairieview-wealth-partners/

Facebook: https://www.facebook.com/PrairieViewWealthPartners

Website: https://prairieviewwealthpartners.com/

Check out other episodes of the Retirement Readiness Podcast!

Combat inflation and safeguard your money with the use of these 7 tried-and-true methods to guard against rising prices, shrinking paychecks and diminishing returns on investments.

Stay informed about the pressing economic issues facing us today with this short and informative overview! In an efficient five-minute rundown, gain a better understanding of what's going on in the economy right now.

The hidden truths behind retirement savings options

It’s nearly impossible to accurately offer a 2023 economic forecast – but we can have some fun with the idea instead. In today’s episode of the Retirement Readiness podcast, we’re giving a humorous take on what we think the stock market and economy should resolve to improve with New Year’s Resolutions for the economy.

Do you know the differences between a traditional vs. Roth IRA account? While they have similar names, they affect your taxes and your retirement in different ways. Watch today’s episode of the Retirement Readiness podcast to understand the benefits of each type of account and how each might be able to help your planning for retirement.

Tim and Katie sit down at Smith Crossing to chat about how to pay for long-term care.

https://www.smithcrossing.org/