Retirement Reality Podcast

Is 'Lazy Money' still a concern in 2024's higher interest rate landscape? In this episode, we explore this question, examining how the recent rise in interest rates affects the money sitting in savings accounts, CDs, and conservative investments.

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

• What do we mean by lazy money?

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

Everyone wants to know. Will the economy boom or bust in 2024? Join us as we explore a range of expert predictions, from the shifting trends in housing prices to the looming question of a potential recession or stock market crash.

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

• Why Mike feels bullish about real estate in the upcoming year.

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

Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit, when you should really consider the delayed rewards.

In part two of our discussion, we’re going to talk through four more situations which people commonly pick the option that gives them a benefit now. Many people aren’t making these choices intentionally so our goal is to help you understand why patience pays in these scenarios.

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

• Maintenance updates and timely upgrades might seem unnecessary in the short term but can prevent larger expenses in the future.

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

Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit when you should really consider the delayed rewards.

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

• It might not seem like a big deal to miss a 401k contribution and the company match once or twice, but you don’t ever want to leave free money on the table.

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

Ever thought that minor tweaks in your financial plan could lead to major wins? In this episode, we're exploring the surprisingly powerful world of simple financial adjustments. From finding the right balance in your cash reserves to consolidating old 401Ks, we're unpacking those seemingly small steps that can bring about big, positive ripples in your financial life.

Here are a few of the financial tweaks that we discuss in this episode:

• Keeping the right amount of cash on hand for emergencies

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

We're nearing the end of the year, but it's not quite over yet! Join us for a thoughtful episode where we unpack our 2023 edition of key year-end planning strategies for those nearing or embracing their retirement years.

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

• Regularly reassessing and rebalancing investment portfolios

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

Ever wish you could foresee financial missteps before they happen? On today’s episode explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you.

Here are the mistakes we’re going to talk through:

• I regret taking premature IRA withdrawals.

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

In today's episode, we're taking a close look at high-net-worth individuals - those who have accumulated significant wealth and face unique challenges and opportunities when planning for retirement. Unlike the average person, their financial considerations go beyond the basics. We'll explore the distinct strategies and factors that come into play when securing a comfortable and prosperous retirement.

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

• How Mike would define a high-net-worth individual?

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

Are you over 55 and pondering retirement? Dive into the world of Required Minimum Distributions (RMDs) with us. In this episode, we demystify the reasons behind mandatory withdrawals from your retirement savings. 

Discover strategies to potentially avoid them and understand the risks of not preparing in advance. And for those fortunate to not rely on RMDs for income, we'll explore impactful ways to utilize those funds. We see people get caught off-guard by RMDs and the tax impact they have on retirement, so getting a jump on planning can go a long way.

Here are some key topics to listen for in this episode:

• Why do we have to take RMDs in the first place?

If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.

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

Losing a spouse is an unimaginably tough life event, but the financial implications can add another layer of stress to the grieving process. In this episode, we delve deep into the most common financial issues faced by widows and widowers, from dealing with income gaps to navigating tax changes as a single filer.

We explore actionable strategies to address these problems, such as the importance of life insurance and the ins and outs of spousal pension continuation. This is the episode for you if you’re concerned with ensuring the financial well-being of your remaining family members and safeguarding your financial future and legacy in the face of loss.

Here are some key topics to listen for in this episode:

• The income gap problem that most widows face in this position.

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