Dreaming of a retirement filled with relaxation and adventure? Then you’ll want to learn more about unforeseen issues that can throw even the best-laid plans into disarray.

In this episode, financial advisor Pat Volk of Abich Financial Services pulls back the curtain on common yet surprising challenges that can derail your retirement dreams. From income taxes to outliving your savings, Pat sheds light on potential pitfalls while providing ideas on actionable strategies you can take to help avoid them.

Learn more about the "great American myth" of budgeting, sneaky income tax surprises lurking in your retirement savings and ways to create a realistic plan for your future.

Visit TheRetirementKey.com to begin creating your personalized financial and retirement plan.

See omnystudio.com/listener for privacy information.

As the Social Security solvency crisis looms, many Americans are wondering what they can do to help protect their retirement income should they face benefit cuts.

On this episode, Abe Abich speaks with David Duley, a foremost expert on Social Security and co-founder of Social Security Risk Score, about the history and complexities of the program.

David shares theories on ways Congress could rescue the program, through strategies like means testing or changes in retirement age, and why he’s focused on empowering consumers to know what their risk level of a benefit cut may be, so they can take actionable steps towards finding a solution.

Arm yourself with knowledge and tools to navigate Social Security challenges. Visit TheRetirementKey.com for your personalized Social Security Risk Score report.

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California has lost over 750 thousand residents over the last three years because of its oppressive state tax rate of 13.3%. People are leaving for places like Florida, Texas and Tennessee that have no state income tax.

On this episode, Abe talks about other (aka – easier than moving) strategies that may be able to help you limit the taxes you’ll owe in retirement.

Plus, we hear from Azul Wells about the anxiety that can cause us to kick the can down the road before we decide to leave the workforce. Abe speaks to those who are afraid of leaving their regular paychecks behind and, how at Abich Financial they help their clients just say no to the “just one more year” mindset.

Conquer your retirement worries! Visit TheRetirementKey.com and get started on your retirement income plan.

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Worried how election volatility could affect your retirement nest egg? You're not alone.

In this episode, Abe breaks down strategies for pre-retirees and retirees to navigate uncertain markets, including shifting from growth to income, building a comprehensive retirement roadmap, and de-risking your portfolio.

We also hear from Alabama’s Nick Saban, who recently shook up the college football world by announcing his retirement. He shares what made him realize it’s time to pass the torch. Abe uses Coach Saban’s perspective to further explain how, at Abich Financial, they work beyond the dollars and cents to help their clients decide when’s the right time to retire.

Visit TheRetirementKey.com to learn more about creating security around your nest egg.

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Researchers have created a simple test that might predict mortality risk.  It consists of standing on one leg with the other tucked behind your knee, and your arms at your sides for 10 seconds. They claim the longer you’re able to do this, the longer you’ll live.

But what about your financial plan? Will your money last as long as you do?

On this episode, Abich Financials’ Senior Financial Advisor Pat Volk, discusses different tests they run on clients’ accounts so they can understand their overall financial health while preparing for retirement uncertainties.

From risk tolerance evaluations to sophisticated Monte Carlo analyses, Pat talks through some of the processes to highlight how these tests can shape a retirement plan.

Want to test your savings plan? Visit TheRetirementKey.com to begin the conversation with Abich Financial Services today!

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Have you checked your 401(k) lately?  There’s a good chance it’s looking a lot better than it did a year ago.  But behavioral economists warn how the overconfidence that comes with making big gains can cause people to take bigger risks with their investments. 

In this episode, Abe also talks about the emotional toll of constantly logging into your accounts and insight to finding balance.  Abe provides actionable ideas to portfolio management, risk assessing and why they have reviews every quarter with their clients, at Abich Financial.

Plus, is it possible to take a “mulligan” on Social Security?

Take control of your retirement journey - Visit TheRetirementKey.com for a complimentary portfolio X-ray and personalized insights.

See omnystudio.com/listener for privacy information.

How much money do you need to be happy?  Baby Boomers say $124K annually, while Millennials want more than a $500,00 each year! But one thing all generations agree on:  having a financial plan can help bring a sense of security. 

On this episode, Abe shares what we can anticipate in 2024. Whether you're nearing retirement or already enjoying it, Abe shares actionable steps for tax planning, insights into market dynamics, and the significance of guaranteed income in retirement.

We also discuss the impact of inflation and how future interest rate cuts could affect opportunities on investments like CDs, Money Markets, treasuries, and annuities.

Take control of your retirement journey - Visit TheRetirementKey.com for a complimentary portfolio X-ray and personalized insights.

See omnystudio.com/listener for privacy information.

The stock market saw a nice rally in November, and some believe we are set up for a great start for 2024 with the Fed lowering interest rates. But not everyone’s on board with that thinking. Abich Financial's Senior Financial Advisor Pat Volk, dives into the unpredictable world of interest rates and the contrasting opinions on rate cuts.

In the midst of economic shifts, Pat encourages investors to seek practical advice as they approach retirement while underscoring the importance of building a resilient financial plan. He shares insight on tailoring strategies to your individual circumstances. Whether you're a speculative investor or someone near retirement it’s important to align your portfolio with your financial goals.

Don’t be swayed by “blanket advice.” Visit TheRetirementKey.com to start your financial conversation with the team at Abich Financial Services.

See omnystudio.com/listener for privacy information.

In this episode, Abich Financial's Senior Financial Advisor Pat Volk, reminisces over favorite holiday movies like, Home Alone. A particular scene from the movie prompts a conversation about the changes Pat has seen in the financial world during his career.

He discusses the transition from traditional pension plans to the prevalence of 401(k)s, the economic impact of technology, changing employer-employee dynamics, and the shift towards a more DIY approach in financial planning.

 

Pat challenges the notion that financial planning should be a one-size-fits-all endeavor, highlighting the importance of seeking professional guidance in an era where individuals are increasingly responsible for their retirement.

 

Ready to overcome financial anxiety? Visit TheRetirementKey.com to start your financial conversation with the experienced team at Abich Financial Services.

See omnystudio.com/listener for privacy information.

As we approach the year-end, Abe discusses the importance of resetting financial goals and addresses the impact of political and economic changes on retirees. Discover the potential benefits of Roth conversions, whether you're still in the workforce or already retired.

Abe sheds light on how retirees can take advantage of strategic tax planning and Roth conversions to increase their tax-efficiency in retirement.

 

We also look at current interest rates and their effects on the stock market. Abe shares his perspective on market dynamics, the impact of interest rate changes, and the caution needed as we approach all-time stock market highs. Learn how to be cautiously optimistic and make informed decisions, especially if you're within five years of retirement.

 

Visit TheRetirementKey.com to start your financial conversation with Abe and his team at Abich Financial Services.

See omnystudio.com/listener for privacy information.