The New Retirement Archives - WebTalkRadio.net

Many have seen much of their wealth dissipate over the last several years. A slow economy and massive debt will likely limit returns on investment for many years to come. High unemployment and no salary growth limit what you can save to rebuild your wealth. With rates-of-returns and pay increases stagnant, to rebuild wealth astute savers turn their attention to better educating themselves on financial management and to lower expenses. Travis Freeman, CFP founder of Four Seasons Financial Education explains what many planning for retirement need to know to take charge of their financial affairs. The expenses you pay to those who manage your money may be a lot more than you think. Simply saving an additional 1% compounded over time means your nest egg can grow much larger. Mark Cortazo CFP, founder of MACRO Consulting Group offers a different fee based model for money management. His flat fee approach can save you you a lot.

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Sometimes Americans can be so ‘America-centric’. In the past there was a good reason for this. The US was by far the biggest and fastest growing economy. We had a stable and supportive political system. The US was fiscally sound. Times have changed. We are one of many large economies, our politics are divisive, we are becoming a fiscal basket case. The dollar is losing value and our prices are rising. Maybe it’s time to diversify our savings outside the US. Marc Krieger CEO of Krieger Capital in New Zealand explains how he sees things. New Zealand and Australia are prospering. There are investment opportunities and the use of a little known New Zealand Trust can help you better manage your finances. While we are down there, Kaye Evans, an Australian women and motivational speaker explains how we can ‘Grow Old Outrageously’.

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Your attitude affects many parts of your life. It affects how people perceive you, your general demeanor and believe it or not, how your investments perform. Your attitude likely has been formed by your experience and education. The financial world teaches you to buy and hold and let the professionals do their business. You may have accepted this attitude, but you most likely have made little or no money in the markets over the last 10-12 years. Bill Deshurko CFP founder of 401 Advisor and author of The Naked Truth about Your Money tells us when to challenge conventional wisdom and how to oversee and manage your financial advisor and your investments. If your attitude needs a tune up, Jim Donovan author of many books including Don’t Let an Old Person Move into Your Body offers steps and actionable advice to keep your attitude positive and use the power within you to change your life.

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Getting older is part of all of our retirement plans. We just don’t know how old we will get. This leaves many people assuming they will live to 90 or 95 for planning purposes. We fear outliving our money, thus we get some comfort if the numbers work to an old age But, this means you may spend 20-30 years or more in retirement. A lot can happen in that time. What has happened in your life over the past 30 years? Was it all predictable? We learn to live with uncertainty and we will continue to need to work with it in retirement. Though, as we age we would like things to be a bit more predictable. Looking for predictability and some guarantees, insurance in its various forms can make sense in your retirement plan. There are many intriguing ways to bring it into your plans. Neil Jesani, CFP and CEO of Beamalife Corp explains creative uses of life insurance and annuities. Living longer brings uncertainty to our health and that of our loved ones. Our social networks may change and we need to work on avoiding loneliness and isolation. Mary Boone Wellington and Tracey Bowman co-authors of Hope I Don’t Die Before I Get Old share stories and tips on how to care for elderly parents and how to prepare for your own time in old age. Preparing now will help to provide a more dignified and joyous aging.

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We all face change. Sometimes gracefully, planned and well executed. Other times less so. One change we all face as we live longer to transition from working for a paycheck to not working at all, or working at something that driven by passion. What stops us transitioning smoothly – is it fear or lack of clarity – and how to we get on track to get what we want? Jeff Rasley, author of six books, left his successful law practice in pursuit of his passion. Besides writing, he transitioned to philanthro-adventurer. Jeff shares his insights on how he successfully shifted to the next phase of his life. Joel Johnson CFP has been advising clients on how best to meet life’s changes for over 22 years. He explains what works and what doesn’t. Your smooth transition needs a sound financial foundation.

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The baby boom generation trampling through their life cycle changed society and the economy. They drove the increase in the building of roads and schools. In starting their careers increased financial asset prices through increased income and pension contributions. They increased real estate prices through home purchases and the building of shopping malls. Now they are moving into retirement at the tune of 3-4 million per year. They will change stock and bond prices and the value of homes has they move into downsizing and selling growth assets. How does this affect your retirement planning? Should you lower your expected investment return and hunker down and save more? What opportunities will arise. Join Paul Hodges author of boom, Gloom and the New Normal as he explains the demographic impact on the economy and society. If you need to save more and modify your investment expectations, Steven Kolinsky CLU,ChFC shares his advice to his client base in preparing for a changed world ahead.

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You may be willing to pay a premium for stability and predictability in volatile times. But, how much and what are you willing to give up? Sometimes people over-correct. With the fear of loss overriding sensibility poor decisions can be made. Dave Boike, ChFC, CLU,RFC and author of High Tide: A Practical Guide for Affluent Retirees explains the importance of balancing the desire for safety with the need for growth. As we get older friends and co-workers may move on. One challenge in retirement is to stay socially engaged. This provides a sense of stability and predictability to your social life. Cathy Cress, MSW, shares the importance of staying connected with your siblings. It’s even been shown that siblings can help you live longer.

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It’s hard to accomplish something if you can’t articulate what it is you’re trying to do. This is where goals come in handy. Once you state your goals, you set your direction. With your direction set, you can begin to determine what you need and how long it will take you. It’s only from this perspective that you can begin to marshal your resources intelligently. Bill Hammer Jr, CFP, author of The 7 Secrets of Extraordinary Investors and President of Hammer Wealth Group discusses the importance of goals in setting your investment strategy. An aimless approach to retirement and money management is rarely successful. With your successful approach set, you need to protect your progress. Housing and market setbacks can wipe out years of progress. Mallie Daniel CEO of Wealth Creation Advisors, Inc. explains how he helps his clients protect their wealth and generate guaranteed income during retirement years.

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We all face uncertainties in life. Sometimes the uncertain can cause problems, both financially and personally. This is generally viewed as risk. You can’t manage what you haven’t measured and you can’t measure what you haven’t defined. There are ways to define and approach risk to increase your ability to prepare for it and to manage it. Mike Carpenter author of The ‘Risk-Wise’ Investor provides an intelligent approach and process for defining and managing risk. One risk we all face as we get older is how to we take care of our self and maintain our dignity when our physical and mental capacities deteriorate. Ron Jennette President and CEO of Methodist Retirement Communities explains how his organization provides shelter and assurance of being taken care of in old age. This is one way to reduce a risk we all face.

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We’ve all been through transitions in our lives. Leaving home, going to college, starting a new job or family, these transitions can be both exhilarating and frightening. You can tap this experience as you move through your next transition being a career change or an encore career in retirement. Studies show people keeping busy by doing something of importance to them extends their lives and adds enjoyment to the next phase of life. Matthew Tuttle CFP and CEO of Tuttle Wealth shares how he helps his clients transition their lives and investment portfolios. Isabelle St- Jean is a Certified Retirement Coach. She shares her process on how you can approach and manage major life transitions.

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