Successfully Retired

Recently I came across a retirement study that found that American's fear running out of money in retirement even more than death. 

Looks like Public Speaking has been unseated as a #2 spot, at least for now.

In today's episode I talk about 3 steps that families in or near retirement should take now to ensure that they do not run out of money in retirement, and how I use these steps in my practice. 

If you follow these steps you can get back to having "public speaking" as the only thing you fear more than death. Give it a listen!

One of the big "aha" moments for many families planning for their retirement is when they see how much they specifically are able to spend and withdraw from investments in retirement.

A big shock to many is that when you study the spending habits of retirees, you see that retirement spending is seldom flat or linear.

Instead, retirees often want to (and do) front-load spending and consume more in their first 10 years of retirement than in their next 10 years of retirement; and often times even spend more in the first 10 years than their last 10 years; despite the rising cost of healthcare late in retirement.

Today's episode is a little more topical to the time.

My business is obsessed with pushing "risk tolerance questionnaires" in front of client's faces. I personally can't stand that. I don't think there's any way to actually prepare yourself for how you're going to feel when your investments lose money, and it's an exercise in futility to try to guess; let alone to make decisions based off of a hypothetical "what-if" when you're sitting in a calm air conditioned office.

When families get close to retiring they start going through all the checklists:

However, getting your financial house in order before evaluating your retirement's priorities and activities is like getting cart before the horse.

Today Rick Luchini and I chat about some of the top things we would do that are not related to our money if we were going to retire in 5 years or less.

Learn more at www.brandenburgFS.com 

Think you know your estate plan? Take a listen as Attorney Meredith Ditchen-Oakley of Woodstock GA and I discuss some of the big things that people are mistaken about when it comes to executing their estate plan.

Learn more about Meredith at www.ditchenlaw.com and be sure to check out my website at www.brandenburgFS.com

Have you heard of a reverse mortgage?

Maybe someone told you a horror story. Maybe your neighbor got one and loved it. Maybe you saw Tom Selleck on TV talking about them. Well if you'd like to learn the truth about what they are and how they work without being sold, be sure to give a listen to this interview with Jake Droge, a lender who works in the reverse mortgage space.

Today I talk about what I think is the most unappreciated retirement savings account: 

While most people have heard the benefits of the Roth IRA or the 401(k), far too few retirees I've met saved as much as they'd benefit from in a taxable brokerage account.

Listen in as Rick and I discuss:

To learn more visit https://brandenburgfs.com

In today's episode Rick Luchini and I interview William Bengen - the financial planner who discovered the "4% Safe withdrawal rule" that answered the question "How much can I withdraw from my investments without running out of money?" based on historical research.

In our chat we talk about what the retirement landscape was like when Bill first pioneered his research, the biggest risks Bill sees retirees facing today, and how he's updated his approach over the years. Bill also talks with us about how this has lead to another research project for him - his upcoming book "A Richer Retirement: Supercharging the 4% Rule to Spend and Enjoy More." 

What type of account should I choose for my kid's or grandkid's college expenses?

This is a question I get pretty often, from clients as well as from friends at dinner and other parents at the playground.

To learn more, visit https://brandenburgFS.com

Today I join my friend and fellow financial advisor Rick Luchini as we talk about the 3 most common questions we get from people who want to pull the trigger on retirement. 

Join us as we dig into:

- Strategies for bridging the Medicare gap if you retire under 65

- How we like to frame the conversation around "How much can I take out of my investments?"

- A controversial approach to Social Security Claiming

As well as a bonus, the one thing people are NOT asking:

"How do I plan for taxes in retirement?"

Learn more about Rick and myself at our websites:

www.luchinifinancial.com

www.brandenburgFS.com