Retirement Reality Podcast

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 

You’ve most likely heard plenty of “rules” you’re supposed to follow to retire successfully. Some of these rules are stated so confidently, you’d be crazy not to immediately accept them as fact.

But we don’t mind the threat of being called crazy, so let’s dive into some of the most popular retirement “rules of thumb” to see if they truly lead us down the path of good financial guidance or run a chance of leading us astray.

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

• Can you rely on the rule of 100 to help you determine how much risk to have? (1:37)

Visit us online: http://principalpreservationservices.com 

Going through a divorce at any age is difficult, but doing it near or in retirement adds all sorts of additional complications. On this episode, we’ll talk about some of the financial mistakes we see people make in the midst of a divorce.

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

• Why choosing the house over other financial assets might not be in your best interest. (2:06)

If you’re going through divorce and would like to begin discussing your financial situation, please reach out and we’ll be happy to sit down and provide you with support.

Contact us: 

(855) 987-8888

http://principalpreservationservices.com/  

Don’t dread this as much as you hated hearing these words as a kid, but it’s time for a pop quiz! We’re putting retirement planning preparedness under the microscope with 5 critical questions to which you need to know the answers. So sharpen those pencils and let’s see how ready you are for retirement.

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

• How much income will you need in retirement compared to how much you’re making while working. (4:19)

Hopefully, you’ll pick up on something during the quiz that you didn’t know about before, but if you have questions about anything we discussed on the show, please reach out and we’ll be happy to talk to you about your financial situation.

Contact us: 

(855) 987-8888

http://principalpreservationservices.com/  

On this episode, we’ll try to pick sides of some important financial debates. From bonds to life insurance, credit card debt to starting Social Security, we’ll propose several different topics to see which sides of the debates you and your advisor should probably fall on.

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

• Why it might not always be the best strategy to pay off your house as soon as you can. (2:03)

If you have questions about anything we discussed on the show, please reach out and we’ll be happy to talk to you about your financial situation.

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

In the current market, a lot of us are looking to work with an advisor to help withstand these market turns. So, what do you need to look out for when working with a new professional?

An advisor that is a jack of all trades may not be the best fit for someone approaching retirement. Similarly, if they only tell you the good news, use a lot of technical jargon, or try to predict the turns of the market you may want to reconsider. Working with an advisor is a great advantage, but working with someone that understands your situation is essential. On today’s episode, we’ll break down five red flags investors need to be aware of when looking for a new advisor.

Today's key points: 

0:42 – How was Ireland?

1:47 – A jack of all trades

4:32 – They only tell you good news

6:34 – Setting realistic expectations

7:38 – Using technical jargon

9:20 – Fearful to ask

10:04 – Predicting the market

12:10 – More talking than listening

Read more and get additional resources here: https://principalpreservationservices.com/retirement-reality-podcast/