In this episode, Chad & Rob dive into the seven tests for retirement readiness, providing valuable insights and advice to help you make sense of your money matters. With over 28 years of experience in finance and investing, Chad draws from his expertise to guide you through the intricacies of retirement planning. But before delving into the tests, Chad emphasizes the importance of seeking unbiased advice from a certified financial planner practitioner, rather than relying on financial advisors who may be more focused on selling products than providing comprehensive planning. He also highlights the need to have a clear understanding of your expenses, including non-discretionary and discretionary costs, as well as healthcare expenses and potential future expenses such as grandkids' gifts, home maintenance, and vacations. Chad stresses the significance of considering your tax situation and the potential impact of market corrections on your portfolio. He also touches on the importance of long-term care planning and the various options available, such as long-term care insurance, hybrid life insurance policies, and Medicaid planning. Throughout the episode, Chad emphasizes the need for a well-rounded financial plan that takes into account risk tolerance, tax planning, safe money allocation, and the potential impact of market fluctuations. Don't miss this informative episode that will help you assess your retirement readiness and make informed financial decisions.

Timestamps:

00:02:04 Prepare for retirement with unbiased advice.

00:06:26 Retirement planning requires careful consideration.

00:14:23 Plan for longer retirement years.

00:15:16 Eating healthy is important.

00:21:10 Long-term care planning is crucial.

00:27:07 Long-term care insurance reduces stress.

00:30:01 Adjust portfolio for retirement success.

00:35:29 Financial planning event this Saturday.

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