Retirement Reality Podcast

Imagine you could read your financial advisor’s mind before you even walked through the door for the first time. What would they want you to know? In this episode, we bring you the game-changing insights financial pros wish every saver and investor understood.

Here’s what we discuss in this episode:

0:00 – Intro

2:02 – Investment costs

3:40 – Real risk

5:40 – Motivation behind information

8:06 – Setting realistic goals

10:27 – Long term over short term

11:35 – One-size-fits-all planning

Text RETIRE to 21000 to Begin Building Your Retirement Reality Roadmap.

Learn more about Principal Preservation Services: https://principalpreservationservices.com

Schedule an Initial Meeting with Mike: https://calendly.com/ppservices/60-minute-initial-meeting

Watch Retirement Reality on Demand: https://bit.ly/40VIByr

As we rapidly approach 2025, it's essential to stay informed about the latest changes in retirement contribution limits and tax brackets. In this episode, Mike will update you on what adjustments are being made to key pension and retirement plan limits, providing listeners with the knowledge needed to maximize their retirement savings.

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

0:00 – Intro

1:13 – 401k contributions

2:47 – IRA limits

3:27 – Standard tax deductions

4:17 – Tax bracket income thresholds

5:14 – Social Security COLA increase

6:37 – Impact on planning

Text RETIRE to 21000 to Begin Building Your Retirement Reality Roadmap.

Learn more about Principal Preservation Services: https://principalpreservationservices.com

Schedule an Initial Meeting with Mike: https://calendly.com/ppservices/60-minute-initial-meeting

Watch Retirement Reality on Demand: https://bit.ly/40VIByr

Social Security has long been a cornerstone of retirement planning for millions of Americans, providing a crucial safety net in their golden years. However, recent proposals suggest significant changes could be on the horizon, potentially altering the landscape of retirement as we know it.

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

• Brendan Boyle’s request for information from the Congressional Budget Office regarding raising the age for full Social Security benefits.

To get in touch with Mike, visit our website: http://principalpreservationservices.com

Every firm has distinct principles that guide its approach to financial planning. In this episode, we take you behind the scenes to explore the core values and unique processes that set Principal Preservation Services apart. We’ll walk you through how we get to know our clients on a deeper level, create personalized financial strategies, and how our approach redefines what it means to have a successful financial planning experience.

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

• The importance of education and understanding in the financial planning process

To get in touch with Mike, visit our website: http://principalpreservationservices.com

A random, retired YouTuber did a simple video exploring the top 5 regrets from other retirees he interviewed (all in their 70s). It blew up to almost half a million views (and counting). Let’s see what regrets made the list and, more importantly, explore what proactive steps you can take to avoid having the same regrets when you retire.

Be sure to stay tuned until the end of the episode as Mike answers two questions from the listener mailbag!

Here are the regrets we discuss in this episode:

• They wish they had retired earlier

To get in touch with Mike, visit our website: http://principalpreservationservices.com

In this episode, we’re exploring some of the world’s most unique and quirky fears—and believe it or not, they have a lot more in common with your financial life than you might think.

From the fear of long words to the fear of peanut butter sticking to the roof of your mouth, we’ll navigate through a list of some of the world’s most peculiar fears and draw parallels to financial planning. Mike shares his insights on how these fears can manifest in our financial decisions and offers practical advice on how to overcome them.

Here are some of the fears we discuss in this episode:

• Hippopotomonstrosesquipedaliophobia (Fear of Long Words)

To get in touch with Mike, visit our website: http://principalpreservationservices.com

In this special mailbag edition of the show, Mike answers a wide range of listener questions. From life insurance and alimony to savings and retirement planning, this episode covers many of the financial planning conversations we have with clients every day.

Here are some of the questions we’ll answer in this episode:

• I’ve heard that you need to have between 15 and 20 times your annual salary in savings to be able to retire comfortably—do you think that’s accurate?

To get in touch with Mike, visit our website: http://principalpreservationservices.com

Retirement planning is a complex process that requires careful consideration of various factors, including the needs of your family. In the latest episode, Mike shares valuable insights on how children and grandchildren can significantly impact retirement goals and offers practical advice on how to navigate these challenges.

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

• More and more parents are providing financial support for their adult children.

To get in touch with Mike, visit our website: http://principalpreservationservices.com

Mike gets a lot of questions about 401(k)s and knows they can be tricky to navigate. That's why we're tackling your top questions in one comprehensive episode. From understanding target date funds to adjusting your investments as you near retirement, this conversation will cover a wide range of essential topics. Listen in to see what you can learn!

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

• Should I contribute as much as I can to my 401k or only as much as the company will match?

To get in touch with Mike, visit our website: http://principalpreservationservices.com

Imagine retiring comfortably on just $42 per month—sounds too good to be true, right? Well, it’s exactly the assertion you might have seen in the headline of a recent article online.

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

• Is this article clickbait or is there some value to it?

Read the article: https://www.fool.com/the-ascent/buying-stocks/articles/you-can-retire-on-4167-a-month-if-you-do-these-2-things/

To get in touch with Mike, visit our website: http://principalpreservationservices.com