The Income For Life Show

Remember the thrill of shaking a Magic 8 Ball to get answers to your childhood questions? Would we ace that math test? Would we be famous someday? Well, today, we're bringing a bit of that magic back. But instead of asking about pop quizzes and playground crushes, we’re turning to the Magic 8 Ball for advice on something much more important: your retirement planning! What would the Magic 8 Ball have to say about these common retirement questions if it had the wisdom of a financial advisor?

Of course, we’ll have our fan-favorite getting-to-know-you segment to kick off the show. We also have some fantastic quotes of the week by Will Rogers and Johnathan Swift to share with you. For this week’s mailbag question, Roger from Boise asks for advice on the best financial option to support their newborn grandson. For this week’s Retirement Ride Along segment, we talk about our trip to Los Cabos, Mexico.

Here’s some of what we discuss in this episode:

• Get-to-know-you questions: Quotable movies, dislikes, recent ridiculous actions (3:42)
• Quotes of the week from Will Rogers and Johnathan Swift (22:45)
• Main topic: The Magic Eight Ball’s Guide to Retirement Planning (27:28)
• Mailbag: “My first grandson was just born, and I'd like to do something for him financially. Should I contribute to a college fund, buy a life insurance policy, or just buy some stocks?” (43:17)
• Retirement Ride Along: A vacation to Los Cabos, Mexico (48:00)

Want to contact us? 

Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.

Get your free copy of Preparing for Retirement: 

Call (888) 228-8814 or email [email protected]

Links From Today’s Show:

The Grand Velas

https://loscabos.grandvelas.com/

Imagine your retirement plan as a sports jersey, customized just for you. Today, we're exploring how every detail, from numbers to names, can define your financial future.

As usual, we’ve got some fun getting-to-know-you questions to kick off the episode and inspiring quotes of the week to share with you today. We’ll also discuss a recent MarketWatch Article about the rising cost of retiree healthcare.

For this week’s mailbag question, Dwayne from Tulsa asks how important it is to work until age 70 before starting Social Security. For this week’s Retirement Ride Along segment, we talk about our trip to the Czech festival in Wilson, Kansas, and a unique Airbnb stay in a nuclear missile silo.

Here’s some of what we discuss in this episode:

• Get-to-know-you questions: Favorite season, favorite breakfast food, and more (7:45)
• Quotes of the week from Bruce Lee and Randy Armstrong (20:40)
• MarketWatch Article: Health Care Costs Jump Almost 5%... (26:37)
• Main topic: Tailoring Your Financial Jersey for a Perfect Retirement Fit (32:26)
• Mailbag: “I’m only 57 and can’t imagine working another 13 years. How important is it to work until 70?” (47:25)
• Retirement Ride Along: Czech festival in Wilson and a one-of-a-kind Airbnb experience (54:13)

Want to contact us? 

Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.

Get your free copy of Preparing for Retirement: 

Call (888) 228-8814 or email [email protected]

Links From Today’s Show:

MarketWatch Article:

https://www.marketwatch.com/story/retiree-healthcare-costs-jump-almost-5-to-165-000-more-than-double-the-2002-rate-7a44f619

Atlas Ad Astra Adventure Resort

https://www.atlasadastra.com/

Are you telling yourself financial lies? In today’s episode, we’re going to share the top 5 lies people often tell themselves about money and retirement. Some of these could be severely holding you back, so be sure to stay tuned!

This week’s getting-to-know you segment includes questions about impactful family members, after-work activities, and more! Then, we’ll share some quotes of the week by Greg S. Reid and Sun Tzu before diving into a great MarketWatch article about geopolitical conflict’s impact on the market.

For this week’s mailbag question, Cliff from New Jersey asks for guidance on how to plan for nursing home costs in retirement. For this week’s Retirement Ride Along segment, we chat about our recent trip to Phoenix.

Here’s some of what we discuss in this episode:

• Get-to-know-you questions: Family members, activities after work, best gifts ever (7:38)
• Quote of the week from Greg S. Reid and Sun Tzu (19:49)
• MarketWatch Article: The Biggest Risk To Markets Is No Longer Inflation, Say Fund Managers (23:34)
• Main topic The 5 Lies You Might Be Telling Yourself About Money (28:30)
• Mailbag: “I’m worried about future nursing home costs. What’s your approach to planning for that?” (38:06)
• Retirement Ride Along: Exploring around Phoenix (43:17)

Want to contact us? 

Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.

Get your free copy of Preparing for Retirement: 

Call (888) 228-8814 or email [email protected]

Links From Today’s Show:

MarketWatch Article:

https://www.marketwatch.com/story/the-biggest-risk-to-markets-is-no-longer-inflation-say-fund-managers-2f12884e?mod=livecoverage_web

Royal Palms Resort and Spa

https://www.hyatt.com/en-US/hotel/arizona/royal-palms-resort-and-spa/phxub

T. Cooks Restaurant 

https://royalpalmshotel.com/eat-drink/t-cooks

Ever heard the saying, ‘Always plan ahead. It wasn’t raining when Noah built the ark?’ Well, today we're diving into that very concept. How did Noah's forward-thinking approach help him survive the flood, and what can it teach us about preparing for retirement? Tune in as we unpack the ancient wisdom of Noah’s Ark and its modern-day implications for ensuring your retirement is secure, no matter what storms might be on the horizon.

We’ve got some great getting-to-know-you questions today to help you learn a little more about us. Then, we’ll share some quotes of the week from Will Rogers and Suze Orman. For this week’s mailbag question, David from Toledo asks if he should take out a large insurance policy on himself to ensure his wife is financially secure after his passing.

Be sure to stick around for this week’s Retirement Ride Along segment, where we chat about our weekend in Kansas City!

Here’s some of what we discuss in this episode:

• Get-to-know-you questions: Expressing love, friendship, and more (5:44)
• Quotes of the week from Will Rogers and Suze Orman (20:15)
• Main topic: Noah's Ark & Retirement Planning (22:48)
• Mailbag: “Should I take out a large insurance policy on myself?” (37:06)
• Retirement Ride Along: Celebrating our dating anniversary in Kansas City (41:18)

Want to contact us? 

Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.

Get your free copy of Preparing for Retirement: 

Call (888) 228-8814 or email [email protected]

Links From Today’s Show:

Prime Social Rooftop

https://primesocialrooftop.com/

Eddie V’s Prime Seafood

https://www.eddiev.com/locations/mo/kansas-city/kansas-city/8517

Lula

https://www.lulakc.com/

In this episode, we’re diving into some famous words by the one and only Yogi Berra. You might know him for his legendary baseball career, but Yogi was also a goldmine of wisdom. We'll spin some of his classic quotes into financial advice. It's all about viewing things through the right lens- so let's see what financial insights we can uncover from Yogi’s memorable sayings!

It’s been a busy few weeks. We’ll catch you up on where we’ve been before diving into some fun getting-to-know-you questions. Then, we’ll share some great quotes of the week and unpack a MarketWatch Article about the 4% rule.

For this week’s mailbag question, Mary from Atlanta asks whether she should begin receiving her Social Security benefits earlier than planned due to her portfolio's recent fluctuations. For this week’s Retirement Ride Along segment, we’ll talk about moving Matt’s daughter, Madison, to Evansville, Indiana.

Here’s some of what we discuss in this episode:

• We’ve been busy! Let’s catch up (1:40)
• Get-to-know-you questions: Best concerts, most-used phone apps, and life lessons (7:54)
• MarketWatch Article: The 4% rule is ‘blind to the new reality’ of retirement life  (23:20)
• Main topic: Yogi’s Wisdom on Making Financial Choices (36:52)
• Mailbag: “Should I start taking my Social Security benefits now given the recent fluctuations in my retirement portfolio?”  (46:25)
• Retirement Ride Along: Move-in weekend in Evansville, Indiana (51:52)

Want to contact us? 

Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.

Get your free copy of Preparing for Retirement: 

Call (888) 228-8814 or email [email protected]

Links From Today’s Show:

MarketWatch Article:

https://www.marketwatch.com/story/the-4-rule-is-blind-to-the-new-reality-of-retirement-life-do-this-instead-c5d7e879#:~:text=The%204%25%20rule%20suggests%20that,ever%20running%20out%20of%20money

Deerhead Sidewalk Café & Bar

https://www.deerheadpizza.com/

Nellie’s Newburgh

https://www.nelliesnewburgh.com/

Parlor Doughnuts

https://www.parlordoughnuts.com/evansville-in

Retirement planning doesn’t have to be overwhelmingly complicated. It certainly doesn’t have to be as complicated as some people make it. In our next episode, we unravel the unnecessary complexities often woven into the fabric of retirement advice. We’ll debunk some myths, simplify strategies, and uncover the beauty of simplicity and straightforward retirement planning.

As usual, we’ll tackle some fun getting-to-know-you questions at the beginning of today’s show. Then, we share two quotes of the week from Denis Waitley and Paul Samuelson. We’ll also take a look at a recent Kiplinger article that weighs the pros and cons of claiming Social Security at age 70.

For this week’s mailbag, we got a great question from Hazel of Salt Lake City. She’s considering retiring from her nursing job in the next 3 months and asks for a financial checklist of priorities she should consider before taking the leap. For this week’s Retirement Ride Along segment, you’ll hear about our recent trip to Chicago!

Here’s some of what we discuss in this episode:

• Life updates + a busy season ahead (2:31)
• Get-to-know-you questions: Least favorite jobs, best ice cream toppings, first jobs (6:32)
• Quote of the week from Denis Waitley and Paul Samuelson (21:07)
• Kiplinger Article: Waiting Until 70 to Claim Social Security (23:01)
• Main topic: The Beauty Of Simplicity When Planning For Retirement (31:51)
• Mailbag: What financial priorities should I consider before putting in my notice at work and retiring? (45:47)
• Retirement Ride Along: Celebrating Sam’s birthday in Chicago (52:20)

Want to contact us? 

Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.

Get your free copy of Preparing for Retirement: 

Call (888) 228-8814 or email [email protected]

Links From Today’s Show:

Kiplinger Article

https://www.kiplinger.com/retirement/waiting-until-70-to-claim-social-security-pros-and-cons

Trump Hotel Chicago

https://www.trumphotels.com/chicago

Terrace 16

https://www.trumphotels.com/chicago/dining/fine-dining-chicago

Willis Tower

https://www.willistower.com/

Gino’s East

https://www.ginoseast.com/

Navy Pier

https://navypier.org/

Offshore Rooftop

https://www.offshorerooftop.com/

Chicago Cubs Wrigley Field

https://www.mlb.com/cubs/ballpark

Instagram of Driver/Comedian, Ruslan: @ruslan.hafiz

Prime Provisions

https://www.primeandprovisions.com/

Blue Chicago

https://www.bluechicago.com/

Yolk

https://eatyolk.com/

Museum of Science + Industry

https://www.msichicago.org/

Many of us are familiar with how a water wheel works. A constant stream of running water keeps the wheel turning so it can do the work it’s supposed to accomplish (whether turning millstones to grind grain in the 19th century or turning turbines to create hydroelectricity in today’s world). If the stream of water stops running, the wheel stops turning. So, how does a water wheel relate to retirement planning? We’ll tell you how in today’s episode.

As always, we’ll kick off the show with some getting-to-know-Matt and Sam questions and share some great quotes of the week relating to retirement planning. This week, we’ll also discuss one of our retirement manual series, The Retirement Playbook: Lessons From The Retirement All-Stars.

For this week’s mailbag question, Lenny from Omaha asks whether it would be advisable to withdraw approximately $90,000 from his IRA to purchase a townhouse for rental income. For this week’s Retirement Ride Along segment, Matt and Sam talk about their recent trip to Parkville, Missouri.

Here’s some of what we discuss in this episode:

• Get-to-know-you questions: The best thing about being an adult, closet doors, and more. (5:06)
• Quote of the week from Ben Franklin and Jim Rohn (22:48)
• Lessons From the Retirement All-Stars (24:37)
• Main topic: Understanding Retirement Through the Water Wheel (30:20)
• Mailbag: “Would it be a bad idea to withdraw approximately $90,000 from my IRA to purchase a townhouse for rental income?” (43:10)
• Retirement Ride Along: An afternoon in the beautiful Parkville, Missouri (52:28)

Want to contact us? 

Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.

Get your free copy of Preparing for Retirement: 

Call (888) 228-8814 or email [email protected]

Links From Today’s Show:

The National Golf Club:

https://www.invitedclubs.com/clubs/the-national-golf-club

The Craic:

https://craiconmain.com/

March Madness is upon us, and as you’re keeping an eye on your bracket and watching the Final Four this weekend, there are a few retirement planning lessons that you can learn along the way… Stay tuned as we take some March Madness terms any apply them to the financial planning world in today’s show.

As usual, we have some fun getting-to-know-you questions lined up for you. Then, we have a fantastic quote of the week to share by Ken Poirot. We’ll also spend some time looking at a MarketWatch article about the increasing retirement savings target in the United States.

For this week’s mailbag question, Darrell from San Antonio asks if it would be better to keep working and receive a pension or retire now with a severance package and pension buyout. For this week’s Retirement Ride Along segment, we’re sharing some of our favorite spots in Copeland, Kansas.

Here’s some of what we discuss in this episode:

• Get-to-know-you questions: Getting ready in the morning, unusual foods, fashion trends (7:31)
• Quote of the week from Ken Poirot (24:28)
• MarketWatch Article: How Much Will You Need To Retire? America’s Magic Number Surges to $1.46 Million (25:30)
• Main topic: Retirement Bracketology (35:45)
• Mailbag: Should I keep working 5-6 years and receive a pension or retire now and accept a severance package and pension buyout? (46:08)
• Retirement Ride Along: Going back to Matt’s hometown (51:44)

Want to contact us? 

Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.

Get your free copy of Preparing for Retirement: 

Call (888) 228-8814 or email [email protected]

Links From Today’s Show:

MarketWatch Article:

https://www.marketwatch.com/amp/story/how-much-will-you-need-to-retire-americas-magic-number-surges-to-1-46-million-cbbfe7f4

The sister’s boutique

https://www.facebook.com/groups/thesistersboutique143/

Copeland Café

https://www.facebook.com/profile.php?id=100057264107213

Goodtimes Grill

https://www.facebook.com/p/Goodtimes-Grill-100057637951397/

Are you planning for your retirement with the confidence that you're making all the right moves? In today's episode, we'll unveil the crucial income planning mistakes that could jeopardize your retirement and show you how to craft a financial plan that's built to last decades, not just years. Tune in to ensure your retirement strategy is foolproof against common pitfalls and ready to secure your financial future.

After a brief hiatus due to Matt being sick, we are excited to be back! We’ll kick off this episode with some excellent getting-to-know-you questions before jumping into our quotes of the week. For this week’s mailbag question, Annie asks whether it's better to take an extra $20,000 out of her IRA or to take out a home equity loan to cover the cost of putting in a screened-in porch.

For this week’s Retirement Ride Along segment, we chat about our recent trip to Sonoma and Napa Valley in California.

Here’s some of what we discuss in this episode:

• Catching up after a brief hiatus (1:36) 
• Get-to-know-you questions: Watching movies, favorite Halloween costume, favorite grade in school (13:02)
• Quote of the week: Proverbs and Abraham Lincoln (27:36)
• Main topic: Top 5 income planning mistakes that could jeopardize your retirement (29:04)
• Mailbag: “I want to put in a screened-in porch, but the only way I could pay for it would either be taking an extra 20,000 out of my IRA this year or taking out a home equity loan to cover it. Which is better?” (41:22)
• Retirement Ride Along: Visting the wine country of America (47:06)

Want to contact us? 

Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.

Get your free copy of Preparing for Retirement: 

Call (888) 228-8814 or email [email protected]

Links From Today’s Show:

Fairmont Sonoma Mission Inn & Spa

https://www.fairmont.com/sonoma/

Highway 12 Vineyards and Winery

https://www.highway12winery.com/

Zina Hyde Cunningham

https://www.zinawinery.com/

Viansa

https://www.viansa.com/

Benziger Family Winery

https://www.benziger.com/

The Donum Estate

https://www.thedonumestate.com/

Ram’s Gate Winery

https://ramsgatewinery.com/

El Dorado Hotel & Kitchen

https://eldoradosonoma.com/

Tammy the Private Driver

Email: [email protected]

Vineyard 29

https://vineyard29.com/

Vineyard Seven and Eight

https://www.vineyard7and8.com/

Folklore

https://folklore-napa.com/

Vermeil Wines

https://www.vermeilwines.com/

Blue Note Jazz

https://www.bluenotejazz.com/napa/

Demola the Violinist

https://www.demolatheviolinist.com/

LaToque

https://latoque.com/

Promontory

https://www.promontory.wine/

Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning. Let’s talk about why on today’s episode.

We have three fun getting-to-know-you questions to kick off this week’s show before sharing our quotes of the week. For this week’s mailbag question, Rose from Michigan asks how to stop getting stuck in a cycle of indecision when it comes to financial planning. For this week’s Retirement Ride Along segment, we share more about our trip to Rochester, Minnesota over Christmas.

Here’s some of what we discuss in this episode:

• Get-to-know-you questions: Products we can’t live without, favorite snack at the movies, fictional characters (3:57)
• Quote of the week from Ken Poirot (15:34)
• Main topic: Retirement planning is harder than it used to be (19:17)
• Mailbag: “Every time I need to make a financial decision, I just end up talking myself in circles. How do I stop talking in a circle and never making a decision?” (37:29)
• Retirement Ride Along: A Christmas trip to Rochester, Minnesota (43:41)

Want to contact us? 

Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.

Get your free copy of Preparing for Retirement: 

Call (888) 228-8814 or email [email protected]

Links From Today’s Show:

Hotel Fort Des Moines

https://www.hotelfortdesmoines.com/

Hilton Rochester Mayo Clinic Area

https://www.hilton.com/en/hotels/rstmahh-hilton-rochester-mayo-clinic-area/

Sugar Factory Express

https://www.mallofamerica.com/directory/sugar-factory-express

FlyOver America

https://www.mallofamerica.com/directory/flyover-america

Hollandberry Pannekoeken

https://www.hollandberrypannekoeken.com/