Shotwell Rutter Baer

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Shotwell Rutter Baer episodes

October 14, 2024S3E36 – Book Review – Outlive: The Science and Art of Longevity
In this enlightening episode, we take a deep dive into Dr. Peter Attia’s compelling book, Outlive: The Science and Art of Longevity. Join us as we explore the intersection of healthspan and lifespan, unpack Attia’s vision of Medicine 2.0 and 3.0, and discuss the four horsemen of chronic disease. All of this ties seamlessly into retirement planning, highlighting how crucial it is to not just live longer, but to live well.
https://youtu.be/Bn3dwClgpgw
Key Points Covered
Understanding Healthspan vs. Lifespan
Dr. Attia challenges the traditional focus on lifespan and argues for a shift towards optimizing healthspan. Learn why the balance between these two is critical for living a fulfilling life.
Medicine 2.0 vs. Medicine 3.0
Discover the limitations of our current reactive healthcare model (Medicine 2.0) and explore Attia’s proactive approach with Medicine 3.0 which emphasizes prevention over cure.
The Four Horsemen of Chronic Disease
We break down the four major threats to healthspan—coronary disease, diabetes, cancer, and cognitive decline—and discuss strategies to combat them before they become a reality.
The Centenarian Decathlon
Inspired by Attia’s Centenarian Decathlon, we discuss setting long-term health goals that align with your retirement dreams. This segment covers how to remain physically active and independent throughout your golden years.
Practical Longevity Strategies
Find out how diet, exercise, sleep, and mental well-being form the pillars of Attia’s longevity strategy. We provide actionable insights you can implement no matter where you are on your health journey.
Call to Action
Curious about optimizing your own healthspan? Ready to make proactive changes today for a healthier tomorrow? Grab your copy of Outlive and start taking control of your future. And remember, your health and financial plan are inseparable. Contact us to integrate wellness into your retirement strategy.
Additional Resources
Link to David’s review of Outlive
Book a consultation with our experts on retirement planning and health optimization.
517-321-4832
[email protected]
Connect with Us
Don’t forget to subscribe and leave a review if you found this episode helpful! Follow us on social media for more insights and updates.
Thank you for tuning in, and here’s to living not just longer, but better!
26 min
October 08, 2024S3E35 – September Retirement Headlines
We’re back with another round of retirement planning headline news reviews. As we like to say, we read the news so you don’t have to. Although, maybe you will want to after you hear us talk about them. Our goal is to at least help point you to what we think matters.
Below is a list of the articles we discuss in this episode, along with our notes and thoughts about each one.
https://youtu.be/40PJLUUJc64
When Interest Rates Go Down, the Hucksters Spring Up
Jason Zweig at WSJ runs down a scam
These things are out there, people prey on vulnerable folks with misleading info
Six Rules for Traveling in Retirement
Travel offseason (cheaper, less crowded, less stressful)
Choose secondary destinations – same, slower pace, etc.
Talk to strangers
Focus on a few things
Stay at least three nights in each place
Be ready to improvise
A recession could upend plans for people approaching retirement. Taking these steps can help, experts say
Review allocation – risk level correct
Consider your sources of income and their security
The Crushing Financial Burden of Aging at Home
The cost of in-home care is surging
In-home workers are hard to find
Implications on freedom for spouses etc.
A ‘ticking time bomb’ could decimate your retirement savings, tax expert says
Ed Slot book
The single greatest threat to retirement dreams is future taxes
Large pre-tax accounts and RMDs
Great way to get clicks and sell books, but I wouldn’t call it a bomb
Is something you should think about and plan for
Many advisors take this too far, mostly because it allows them to sell you things.
Solving the Mystery of an Investment That’s Too Good to Be True
Too good to be true, then it probably is
Despite regulation, there are still a lot of bad actors and misleading claims
The Keys to Aging at Home? Frank Conversations and Financial Planning
Surveys show 77% of current retirees want to stay in their homes
Making sure that will work requires planning
Frank conversations about money and things like inheritance
Prepare the home ahead of time
Smart home features, lighting, stairs vs. ramps, etc.
Financial planning around how to get it done is key
5 Critical Financial Steps to Take Before You Retire
What role will work play
Social Security Planning
Retirement Income Style
Stability vs Variability
Practice spending before retiring
Spendthrift vs Tightwad
The last step is to structure your portfolio for retirement
Strategic Derisking
Cash buckets
We dreamed of spending our retirement on epic road trips. After buying an RV backfired, we made a better plan.
A couple who went out and bought a Van for road trips. They ended up hating it and now travel on cheap hotel/AirBnbs
The moral of the story is rent and try before you buy.
Worried about outliving your savings? How to plan your retirement withdrawal strategy in 4 smart steps
Rule of thumbs for withdrawals
Take your RMDs
Withdrawal from taxable accounts
Tap into your tax-deferred savings
Use your ROTH accounts
Factors to consider
Current and future tax brackets
Retirement goals
Market Volatility
Don’t forget to check out the articles David Shotwell has written for The Street. Find them HERE
Conclusion
Thanks for tuning in to this episode of Retirement Headlines! Have thoughts or questions about what we discussed? We’d love to hear from you.
Send an email to [email protected] or call 517-321-4832
Don’t forget to subscribe to our YouTube Channel for more insights and personalized advice. Book a call with one of our retirement advisors today to ensure you’re on the right track for a secure and enjoyable retirement.

About Shotwell Rutter Baer
Shotwell Rutter Baer is proud to be an independent, fee-only registered investment advisory firm. This means that we are only compensated by our clients for our knowledge and guidance — not from commissions by selling financial products. Our only motivation is to help you achieve financial freedom and peace of mind. By structuring our business this way we believe that many of the conflicts of interest that plague the financial services industry are eliminated. We work for our clients, period.
Click here to learn about the Strategic Reliable Blueprint, our financial plan process for your future.
Call us at 517-321-4832 for financial and retirement investing advice.
30 min
September 24, 2024S3E34 – Retirement Planning Updates: Cash and Elections
In this episode we explore the latest developments in retirement planning, focusing on the implications of recent Federal Reserve actions and how they affect cash strategies for retirees. Join us as we break down the key points and provide practical advice for navigating these changes.
https://youtu.be/u6EUjgp20tM
Key Points Covered
Interest Rate Changes
Federal Reserve Rate Cut:
The Federal Reserve has reduced interest rates by half a percent, marking a significant shift after a prolonged period of no rate changes.
Understanding the impact of this rate cut on the economy and individual financial strategies is crucial.
Market Reactions:
The stock market responded positively to the rate cut, indicating investor confidence in the Fed’s approach to stimulating the economy.
The Fed’s intention is to avoid triggering a recession by lowering rates, even at the risk of reigniting inflation.
Cash Management Strategies
Long-Term Strategy:
Despite the rate cut, it’s essential not to change your long-term cash strategy based solely on short-term interest rate fluctuations.
Cash should be allocated based on spending needs, not temporary interest rate changes.
Cash Allocation:
Determine the amount of cash you need based on immediate and near-term spending requirements.
Maintain an emergency fund and allocate money for any expenses anticipated in the next one to two years.
Avoiding Common Pitfalls:
Don’t chase marginally higher interest rates by frequently moving cash between savings accounts or CDs.
Be cautious of reaching for yield and understand the risks associated with higher-yield investments.
Economic Insights
Neutral Rate:
The concept of the neutral rate, where interest rates neither stimulate nor slow down the economy, remains elusive and subject to change.
The Federal Reserve’s actions are data-dependent, and future rate adjustments will be based on economic indicators.
Historical Perspective:
Interest rate changes are part of the normal economic cycle, and it’s important not to overreact to short-term fluctuations.
Historical context helps in understanding current market dynamics and making informed decisions.
Practical Advice
Investment Caution:
Avoid making impulsive investment decisions based on short-term market movements.
Maintain a balanced approach to investing, keeping in mind your long-term financial goals and risk tolerance.
Emergency Funds:
Preserve your emergency fund for unexpected expenses and avoid using it for speculative investments.
Conclusion
Navigating the complexities of retirement planning and interest rate changes requires a steady hand and a long-term perspective. Always base your financial decisions on solid strategies rather than reacting to market hype.
For personalized advice and deeper insights, consider consulting with a financial advisor who can help tailor your retirement plan to your specific needs.
Call to Action
Don’t miss out on future episodes—subscribe to Kitchen Table Finance now to stay updated on the latest financial insights and strategies. For more in-depth guidance, book a consultation with our expert advisors today.
Feel free to shoot us an email at [email protected]
23 min
September 19, 2024S3E33 – Dealing with Investment Fraud in Retirement
In this episode, we tackle the alarming rise of investment fraud targeting retirees. Cole Willams joins us again to discuss the increasing prevalence of scams, driven by economic hardships and advanced AI technologies, and offer practical advice on protecting your finances from fraudulent schemes.
https://youtu.be/YYx4DuWWkBg
Key Points Covered
Introduction to Investment Fraud
The Internet age has brought numerous types of scams and fraud.
Retirees are targeted more frequently than other demographics.
The importance of discussing these issues to prevent financial loss.
Common types of fraud include:
Cryptocurrency
Foreign exchange
Guaranteed buyback
Precious metals
Commodities trading
Real estate
Current Fraud Statistics
A recent Federal Trade Commission report shows 2.6 million fraud reports with $10 billion in reported losses in 2023.
Economic hardships and advancements in AI contribute to the rise in fraud cases.
AI’s Role in Modern Scams
AI tools like ChatGPT can generate convincing scam scripts, eliminating the telltale signs of broken English.
AI can also create realistic fake voices, making phone scams more convincing.
Example of Google AI’s ability to conduct natural conversations, highlighting the new risks.
Political Donation Fraud
Scammers use AI to impersonate well-known political figures, such as President Trump, to solicit donations.
Tips to avoid fraud: verify legitimacy by calling official numbers or donating through trusted channels.
General Scammer Tactics
Pressure tactics: creating a sense of urgency to act immediately.
Emotional manipulation to get victims to act against their better judgment.
Importance of recognizing these tactics to avoid falling victim.
Identifying Common Scams
Scams often involve threats of legal trouble or promises of prizes that require immediate action.
Legitimate organizations will never pressure you to act within a short timeframe.
The Scale of Modern Scamming
Scamming has evolved into a multi-billion dollar global industry, with organized call centers and advanced technology.
Understanding the organized nature of these operations can help potential victims stay vigilant.
Why Retirees are Targeted
Older individuals are often seen as easier targets due to cognitive decline and greater wealth.
Younger people are also falling victim, indicating that fraud is a risk for all age groups.
Tips for Protecting Yourself
Be cautious of unsolicited calls and emails.
Verify information by calling official numbers.
Avoid sharing personal information with unknown callers or online sources.
Check credentials
Brokercheck.finra.org
Adviserinfo.sec.gov
Look for transparency
Take your time
Get a reality check
Know your limitations
Resources
5 Ways to Prevent Elder Financial Exploitation
Americans Reported Losing a Record $10 Billion to Scams and Fraud in 2023
Thinking Ahead Roadmap Organization
AARP Scam Map
Conclusion
Investment fraud is a growing concern, especially for retirees. By understanding the tactics used by scammers and staying vigilant, you can protect your hard-earned savings. For more detailed advice and personalized guidance, consider consulting with a financial planner.
Stay informed and protect your investments. Subscribe to our podcast for more tips on safeguarding your financial future. If you have any questions or need assistance, don’t hesitate to reach out to our team of experts.
517-321-4832
[email protected]
Thank You for Listening!
Don’t forget to subscribe, rate, and review our podcast on your favorite platform. Your support helps us reach more listeners and provide valuable information to protect your financial well-being. Check out our YouTube Channel HERE
24 min
September 09, 2024S3E32 – Helping Your Kids Understand Student Loans
In this episode, we tackle the complex world of student loans and how to help your kids make informed decisions about their educational financing. From the intricacies of different loan types to the pressing issue of loan forgiveness, join us as we break down what every parent and student should know. Cole Williams, our newest associate advisor joins Nick to lend his unique perspective.
https://youtu.be/zBYZcoSJ2D4
Introduction
Newsworthy Topic:
Student loans have been a hot topic due to discussions around loan forgiveness.
The Supreme Court’s involvement has added a layer of complexity.
Relevance to Financial Planning:
Many parents juggle retirement planning with their children’s education expenses.
Student loans are a significant part of financial planning for families.
Types of Student Loans
Subsidized Loans: Interest payments are covered while the student is in school if certain criteria are met (GPA, credits).
Unsubsidized Loans: Interest accrues while the student is in school, making them less favorable.
Parent PLUS Loans: Parents are the primary party responsible for repayment—not just co-signers.
Private Loans: Options like SOFI, often used for graduate school, but come with different terms and interest rates.
Student Loan Strategy
Debt-to-Income Ratio: Aim for student loan debt to be less than or equal to the average starting salary of the chosen career field.
Long-Term Implications:
Consider future income and career stability when taking out loans.
Be cautious of accumulating too much debt, as it may not be sustainable over a long period.
Loan Forgiveness and Repayment Plans
Income-Driven Repayment Plans: Payments based on income, with potential for forgiveness after 20-25 years of consistent payments.
Public Service Loan Forgiveness (PSLF): Forgiveness after 10 years (120 qualifying payments) for those working in public service or non-profits.
SAVE Plan: A newer plan in the news, based on paying 5% of income, with remaining debt forgiven after 10 years if under specified repayment thresholds.
The Reality of Loan Forgiveness
Uncertainty: Legal and political factors can affect eligibility and timelines for loan forgiveness programs.
Commitment: Importance of a solid plan for consistent payments and understanding the long-term commitment.
Practical Advice for Parents and Students
Early Planning: Discuss financial implications before committing to loans.
Aim to keep debt manageable relative to expected income.
Avoid Bankruptcy Misconceptions: Student loans are generally not dischargeable through bankruptcy.
Refinancing Options: Refinancing can offer better rates but comes with different terms and conditions.
Conclusion
Understanding student loans is crucial for both parents and students. With the right information and planning, you can make informed decisions that won’t burden you financially in the long run. Stay tuned for more insights and expert advice on managing your finances.
Contact Us!
Are you looking for solid retirement planning advice? Reach out to Dave and Nick, hosts of the Kitchen Table Finance Podcast and certified financial advisors. They specialize in navigating unique benefit plans and can help you capitalize on all opportunities available through your investments. Find out if you’re getting everything you could be with your financial plan.
[email protected] or call 517-321-4832
Feel free to share this episode with anyone who might benefit from our discussion. Don’t forget to subscribe to the Kitchen Table Finance Podcast for more tips and strategies on financial planning!
Thank you for tuning in!
22 min
September 05, 2024S3E31 – August 2024 Retirement Headlines
Welcome back to another installment of Retirement Headlines with your hosts, Dave and Nick! In this episode, we provide an overview of the articles we’ve been reading, offering insights to help listeners understand what’s happening in the retirement landscape.
https://youtu.be/YD9N_G8JGos
1. Wall Street Journal Article on Umbrella Insurance
Overview: Insurance coverage is changing, particularly with umbrella insurance.
Key Points:
Umbrella insurance is personal liability insurance that covers beyond your auto and home insurance.
Inflation has increased the size of claims, making umbrella insurance more necessary.
Premiums for umbrella policies are rising due to increased claims.
Example discussed: $250,000 liability coverage on auto insurance is often insufficient.
2. Yoters’ Series on Retirement Health
Overview: The Yoters, former financial writers, are documenting their retirement.
Key Points:
Focus on maintaining health during retirement.
Discussion about the book “Outlive” by Peter Attia.
Importance of preventing long-term health issues to enjoy retirement.
The concept of “The Lost Decade” where health issues can diminish the quality of life.
3. Retirement Savings Rule Changes
Overview: Changes to retirement savings rules as reported by the Wall Street Journal.
Key Points:
New rules affecting Roth contributions and required minimum distributions (RMDs).
Penalties for missed RMDs will be reduced from 50% to 10%.
Discussion on whether this change will lead to stricter enforcement of penalties.
4. The Resurgence of the 60/40 Portfolio
Overview: According to Morningstar, the 60/40 portfolio is making a comeback.
Key Points:
Despite market fluctuations, the balanced 60/40 portfolio (60% stocks, 40% bonds) remains effective.
Historical context and recent performance validating the portfolio strategy.
Importance of sticking to tried-and-true investment principles.
5. 60/40 Portfolio and the 4% Withdrawal Rate
Overview: Examination of the sustainability of the 60/40 portfolio with a 4% withdrawal rate.
Key Points:
Wall Street Journal article discusses potential risks.
Discussion on market conditions and investor behavior.
Importance of flexibility and adaptability in retirement planning.
Additional Articles Discussed in this Episode
Why Retirees and Investors Approaching Retirement Should Reduce Risk Today
Shopping for a used car? Why now may be the time to buy.
How to Plan for Retirement if You’re Behind on Saving in Middle Age
How to Predict a Recession
Why Investors Missed Out on 15% of Total Fund Returns
A Time-Honored Strategy Puts Your Retirement at Risk of Financial Ruin
Conclusion
Thanks for tuning in to this episode of Retirement Headlines! Have thoughts or questions about what we discussed? We’d love to hear from you.
Send an email to [email protected] or call 517-321-4832
Don’t forget to subscribe to our YouTube Channel for more insights and personalized advice. Book a call with one of our retirement advisors today to ensure you’re on the right track for a secure and enjoyable retirement.
0 min
August 28, 2024S3E30 – Making Smart Housing Decisions in Retirement
Introduction
Welcome to another episode of the Kitchen Table Finance Podcast! In this episode, Dave and Nick are joined by our newest associate advisor, Cole Williams. Today, we’re diving deep into making smart housing decisions during retirement—a topic that’s crucial for anyone looking to secure their financial future.
https://youtu.be/xOidCd80wm4
Key Points Covered:
1. Current and Historical Housing Market Overview
Comparison of current interest rates with those from the 70s and 80s.
Analysis of consumer sentiment on whether it’s a good time to buy a house, contrasting the 1980s and today.
Discussion on the affordability and availability of homes now versus the past.
2. Interest Rates and Inventory Issues
Examination of why current higher interest rates still fall within historical norms.
The significant inventory problem today is due to fewer new builds and low homeowner mobility.
3. Economic Impact on Retirement
How the Baby Boomer generation’s housing decisions have influenced personal finances.
The ongoing debate on whether owning a home remains the bedrock of wealth.
4. Renting vs. Buying in the Current Market
Comparison of average costs between renting and buying.
The hidden costs of homeownership versus renting.
The potential financial advantages of renting and reallocating savings.
5. Market Dynamics and Investment Trends
The rise of short-term rentals through platforms like Airbnb and VRBO.
Impact of large investment banks and hedge funds entering the real estate market.
Political and economic factors influencing housing market trends.
6. Advice for Retirees
Practical advice for retirees considering downsizing or relocating.
How to capitalize on the current market to maximize financial gains from homeownership.
Conclusion
Making informed housing decisions in retirement can significantly impact your financial health. Whether you’re considering buying, selling, or renting, understanding the market dynamics and economic factors at play is essential.
Call to Action
Do you work for Michigan State University? Are you looking for solid retirement planning advice? Reach out to Dave and Nick, hosts of the Kitchen Table Finance podcast and certified financial advisors. They specialize in the unique benefit plans offered by MSU and how to capitalize on all you have available to you through your investments. Contact Shotwell Rutter Bear Financial Planners at SRBAdvisors.com, or simply search for the Kitchen Table Finance Podcasts wherever you get your podcasts.
Stay tuned for more insightful discussions, and don’t forget to subscribe to our podcast for future episodes!
Episode Resources:
National Association of Realtors
Redfin Housing Market Data
Bankrate Mortgage Rates
23 min
August 20, 2024S3E29 – Special Guest – Scott de Varona with MiABLE
Welcome to another episode of Kitchen Table Finance! Today, we have a very special guest, Scott de Varona, Division Director at MiABLE 529(a) Disability Savings Program & Student Loan Repayment Division. We discuss the groundbreaking MiABLE 529 disability savings program. If you’re curious about how this program can help individuals with disabilities achieve a better life experience, you’re in for a treat.
https://youtu.be/jM0Q1zol3n4?si=hMHWvJzFJ23s-IAS
Key Points Covered
What is ABLE?
ABLE stands for Achieving a Better Life Experience
Modeled after the 529 education savings program but focused on disability savings
According to their website, “ABLE is about Connecting People with Disabilities, their families, and those who support them to information about the Achieving a Better Life Experience (ABLE) Act and ABLE accounts. Our mission is to educate, promote, and support the positive impact ABLE can make on the lives of millions of Americans with disabilities and their families.”
Check out Michigan plan information here.
https://youtu.be/K2KnCTw_mRw
Scott’s Journey:
Background in Medicaid and how it led him to ABLE
Initial challenges and steps in setting up the ABLE program
The Importance of Awareness
Common Misconceptions:
Lack of awareness in the disability community
Challenges in marketing to this unique population
Building Trust:
Partnering with service organizations and advocacy groups
Joint presentations with ISDs and other credible sources
Stephen Beck Jr. and the Origin of ABLE Accounts
Personal Story
Stephen Beck Jr.’s advocacy for his daughter with Down syndrome
Creation of the ABLE account to allow savings without losing benefits
Functionality and Benefits of ABLE Accounts
Ease of Setup: Simple online setup via https://www.ablenrc.org/
Key Advantages:
Savings not counting against the $2,000 asset limit for benefit eligibility
Various allowable expenses, from housing to transportation
Contribution Limits: Up to $18,000 per year (subject to IRS changes)
Wide Range of Uses: Education, housing, transportation, medical expenses, and more
Why ABLE Accounts Matter
Empowerment: Providing financial independence to individuals with disabilities and encouraging smart financial decisions without penalty
Conclusion
This episode sheds light on how ABLE is revolutionizing financial planning for individuals with disabilities. Scott de Varona’s insights make it clear that ABLE accounts are a game-changer, offering a better life experience through financial empowerment.
Ready to learn more? Visit MiABLE to explore how you or a loved one can benefit from an ABLE account. Don’t forget to subscribe to our podcast for more expert insights and inspiring stories!
Connect with Us
Follow Kitchen Table Finance on YouTube
Email us your questions and feedback at [email protected]
Guest Information
Scott de Varona, Executive Director at ABLE
Mission: Encourage and assist the saving of private funds to help persons with disabilities cover costs that support their health, independence, and quality of life.
Website
LinkedIn
Thank you for tuning in! If you enjoyed this episode, please leave us a review and share it with your network.
37 min
August 13, 2024S3E28 – Navigating Retirement in Times of Market Volatility
Join Dave and Nick as they explore strategies to manage market volatility during retirement. Drawing on behavioral finance principles, they provide practical advice to help you stay the course in turbulent times.
Key Topics Discussed
Market Volatility: The episode begins by discussing recent shifts in market sentiment, highlighting a 6.5% drop in the S&P 500. The hosts explain how quickly investor attitudes can change and the role media plays in amplifying these emotions.
Retirement Preparedness: Understanding how to cope with market fluctuations is crucial for those approaching or in retirement. Dave and Nick discuss the importance of long-term planning and keeping a focused eye on retirement goals despite short-term market movements.
Behavioral Finance: Behavioral finance offers insights into why we react emotionally to market changes. The hosts recommend “The Hour Between Wolf and Dog,” a book exploring the science behind our physiological responses.
Episode Highlights
Coping with Volatility: Volatility is an unavoidable part of financial markets, akin to birthday celebrations—they happen regularly. Dave and Nick stress the importance of preparing for emotional responses during market downturns.
The Role of the Media: The hosts caution against overreacting to sensationalized news headlines, which often focus on worst-case scenarios. Instead, they advise taking a step back to assess the bigger picture and maintain a long-term investment mindset.
Reality Testing and Diversification: By revisiting financial plans and maintaining diverse portfolios, investors can better manage anxiety and avoid panic-driven decisions. Dave and Nick remind listeners that not all investments are affected equally by market changes.
Economic Perspectives: The episode concludes with a discussion on broader economic impacts, reminding listeners that financial markets are rarely zero-sum games. Even in times of uncertainty, there are always opportunities to be found.
Resources
The Hour Between Dog and Wolf: How Risk Taking Transforms Us, Body and Mind by John Coates
The Power of Investing During Down Markets by David Shotwell
Market Volatility Survival Guide

Do you have investment or retirement questions? We’d love to chat with you. Please send an email to [email protected] or call 517-321-4832.
Do you work for MSU?
Are you affiliated with Michigan State University and seeking expert retirement planning advice? Reach out to Dave and Nick, your hosts and certified financial advisors. They specialize in benefit plans tailored to your unique situation.
For more insights and practical advice on navigating retirement with confidence, subscribe to the Kitchen Table Finance podcast and join our community of informed investors!
26 min
July 29, 2024S3E27 – Retirement Planning Headlines – June 2024
Welcome back to our much-anticipated June 2024 edition of “Retirement Planning Headlines,” where we save you the hassle of combing through endless financial articles. Sometimes even our listeners chime in with topics for our deep-dive discussions.
https://youtu.be/v182Ah4aRPA
Articles Discussed in this Episode
Lessons From Another ‘Faux-tirement’
Christine Benz on using her sabbatical six weeks to see what retirement might be like
The Money Habits I Learned From My Parents—for Better or Worse
Learning by watching
Unlearning some lessons
“Money Scripts” – Klontz
Quiet Compounding
Stories of a country bumpkin with no education and a low-wage job to save tens of millions
Their entire financial universe was contained to the walls of their home, which allowed them to play their own game and be guided by nothing other than their own goals. That was their superpower. It was their only financial skill, but it’s the most powerful one of all.
People become so nervous about what other people think of their lifestyle and investing decisions that they end up doing two things: Performing for others and copying a strategy that might work for someone else but isn’t right for you.
Two ways to use money.
Tool to live a better life
The yardstick of success is to measure yourself against other people
What does quit compounding mean?
Emphasis on internal vs. external benchmarks
Acceptance of how different people are, and a realization that what works for me might not work for you and vice versa
A focus on independence over social dunking
Focus on long-term endurance over short-term comparison
Don’t Be a Victim: Financial Abuse of Seniors – How to Spot Scams & Protect Yourself
From Sandy Adams, whom we know from Michigan FPA
Good guidelines for seniors
A Bucket List for Our Retirement? No Thanks
I Would rather revisit places I have already been and reconnect with people I knew long ago
Will You Need Permission to Spend in Retirement?
Consider an annuity
Research from David Blanchett and Michael Finke suggests that retirees who hold a higher percentage of their wealth in guaranteed income spend more than retirees whose wealth consists of non annuitized assets
Tilt portfolio toward current income production
Tie portfolio withdrawals to portfolio performance
Plan for spending to trend down
Ask an Advisor to Dole it Out
Tightwads and spendthrifts: An interdisciplinary review
Everyone experiences the pain of paying
People who don’t experience enough pain- Spendthrifts
People who experience too much pain – tightwads
Neither are happy with how they handle money
Here’s the deflation breakdown for June 2024 — in one chart
Conclusion
Have you come across any articles you have questions about or would like to hear us discuss? Send them our way at [email protected]
Remember to subscribe and follow our podcast for monthly updates packed with practical advice to guide you through your financial future with clarity and confidence. Stay tuned and stay informed!
28 min

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