After a look at whether a recession may be looming in the near term, Pat takes a look at Social Security, and how retirees can optimize their benefits depending on their situation in regards to age, marital status and other factors.

Prediction markets are showing a 37% chance of a recession in the United States in the near future, and many pre-retirees and retirees are concerned about their financial future. Pat takes a look at the current financial landscape, the chance of stagflation occurring, and ways that a written plan can help to recession-proof your savings before anything hits.

The recent conflict in Iran may have people wondering what may happen, especially those who are living off retirement savings. Pat takes a look and reinforces the importance of not only having a plan, but sticking to it in uncertain times.

People build up savings for 30 to 40 years while they’re working, but savings by itself it not a retirement plan. Pat takes a look at how that savings can turn into actual income to help augment Social Security or pensions so that you will have money to live your lifestyle throughout your retirement.

It’s the number one fear of Americans as they get set for retirement, and there are many factors as to why that is, including longevity, inflation and taxes among others. Pat discusses these and other areas and how planning for them as best as possible can help alleviate some of the fears and help better set people up for their post working years.

Cooling inflation sounds like good news, but for millions of retirees, it could mean a much smaller Social Security check increase next year. Early estimates predict the smallest COLA since 2016, while costs for essentials like groceries and utilities are still climbing. In this episode, Melissa and Pat reveal what a small COLA really means for your budget and why your retirement income plan is more important than ever.

A recent survey shows nearly three-quarters of those questioned are not confident Social Security will run out of funding during their lifetime. Pat talks about the survey results, possible changes which could be made, and what people can do to make sure they have enough savings to cover any shortfalls just in case benefits may be reduced in the future.

Pensions are pretty much out, and individual responsibility for retirement saving is the new norm. Throw in longevity risk and the uncertainty of Social Security in the coming years and things can get out of whack in a hurry. Pat takes a look at what has changed and what continues to change in retirement planning and what you can do to help make sure you not left behind.

The Federal Reserve recently made a big decision: they’re keeping interest rates steady for now. But what does this really mean for you, especially if you’re retired or thinking about retirement? In this episode, Pat talks about why the Fed’s moves matter, what’s going on with inflation and politics, and what savvy retirees could do right now to feel more financially confident.

Talking to family about inheritance and legacy planning is difficult for many families, but avoiding the conversation can lead to family rifts and financial mismanagement. Pat takes some time to discuss why communication can be the missing piece in many legacy plans.