Retirement Reality Podcast

Another year is upon us and it’s a great time to ask yourself 10 questions to assess how ready you are for retirement to kick off 2023.

If you’re retiring this year, it’s essential to have some concrete answers to these questions. If you’re still a few years from the milestone, tune in so you can start thinking about these critical conversations.

Here’s some of what we’ll discuss in this episode:

• Do I know exactly how much income I need every month? (1:55)

To get in touch with Mike, visit us online: http://principalpreservationservices.com

The end of the year (or start of a new year) probably means you’re getting a lot of financial statements in your mailbox, or inbox if you’re paperless. Do you ever wonder what some of those terms mean as you look at your 401(k), IRA and other account balances?

From fine print to fees, listen to this episode for a breakdown of some of the terms you might come across.

On this episode, we’ll share:

• Are income projections valuable information? (2:19)

For more episodes, visit us online here: http://principalpreservationservices.com

Get additional financial education on our YouTube channel: https://www.youtube.com/channel/UCJ6RRiWvkInUm_E3lg38T2g

Sometimes it might seem like talking to your financial advisor feels like talking to a therapist, and that’s ok. Today we’re discussing some scenarios where it’s almost inevitable that a talk with your advisor seems like a counseling session.

Whether you’re getting a divorce or having career difficulties, your financial advisor should be there to help guide you through the financial transition.

On this episode, we’ll share:

• How we help clients going through a divorce. (2:22)

For more episodes, visit us online here: http://principalpreservationservices.com

Get additional financial education on our YouTube channel: https://www.youtube.com/channel/UCJ6RRiWvkInUm_E3lg38T2g

Sometimes you need to find a new financial advisor. Other times, you might think you need a new advisor, but really, you’re just guilty of thinking that the grass is greener on the other side.

Today we’re sharing some common scenarios and whether they’re legitimate reasons for leaving your advisor. We’ll share some hypothetical scenarios and see if any of these apply to you.

On this episode, we’ll share:

• Should I leave an advisor who made a mistake? (3:24)

For more episodes, visit us online here: http://principalpreservationservices.com

Get additional financial education on our YouTube channel: https://www.youtube.com/channel/UCJ6RRiWvkInUm_E3lg38T2g

Getting through retirement can be a lot like running a marathon. From planning and preparation to a proper diet, a lot of these skills work in both worlds. With marathons, you don’t want to start to fast and tire yourself out before the finish. The same can be said for spending your retirement money.

Today we’ll share some of the similarities of getting to the finish line in racing and retirement.

On this episode, we’ll share:

• You might think you don’t need planning and preparation, but you’re wrong. (4:12)

For more episodes, visit us online here: http://principalpreservationservices.com

Get additional financial education on our YouTube channel: https://www.youtube.com/channel/UCJ6RRiWvkInUm_E3lg38T2g

Today we're sharing five common questions people ask when they’re forced into retirement. Hopefully, you won’t be in this position, but more and more people are these days.

If this scenario does come your way, it’s best to be prepared. We’ll also be answering some mailbag questions today from our listeners. If you don’t have an advisor or want a second opinion, we’d be happy to help.

Here is some of what you’ll learn on this show:

• Should you accept a buyout offer to retire early? (2:14)

For more episodes, visit us online here: http://principalpreservationservices.com

Get additional financial education on our YouTube channel: https://www.youtube.com/channel/UCJ6RRiWvkInUm_E3lg38T2g

Just like the lights on your dashboard can indicate if something is wrong with your car, such as low tire pressure or leaking oil, there are indicators in your financial life that might point out that you have a problem that needs to be addressed.

If any of these raise a red flag for you, it might be time to sit down with your advisor. If you don’t have an advisor or want a second opinion, we’d be happy to help.

Here is some of what you’ll learn on this show:

• What to do if you have no idea what it costs to fund your lifestyle. (2:22)

Get additional financial education on our YouTube channel: https://www.youtube.com/channel/UCJ6RRiWvkInUm_E3lg38T2g

We’re bombarded with ads each day in all forms of media. But have you ever taken a closer look at these messages?

If we unpack some of these headlines and ads a little bit more, we’re able to clearly understand what emotions they’re trying to elicit. More importantly, we can figure out what companies are trying to sell us.

Here is some of what you’ll learn on this show:

• What is meant by ‘invest like the 1%’?  (1:49)

For more, visit us online: http://principalpreservationservices.com

We always talk about the money side of financial and retirement planning. But what about the mental aspect of that big life change?

Today we’ll break down an article written by a Licensed Professional Counselor (Kate Schroeder) for Psychology Today, titled The Psychological Investment In Retirement.

Read the article here: https://www.psychologytoday.com/us/blog/next-change-is-inevitable-growth-is-optional/202208/the-psychological-investment-in-retirement 

Here is some of what you’ll learn on this show:

• Are you mentally prepared to walk away from a life and routine you’ve been used to? (2:24)

For more, visit us online: http://principalpreservationservices.com

People have many reasons for procrastinating when it comes to putting a retirement plan together. Let’s explore some of those excuses and why they can be dangerous, and talk about how to overcome them…

Here is some of what you’ll learn on this show:

• Why you should still plan for retirement, even if your parents didn’t. (1:23)

Visit us online: http://principalpreservationservices.com