The Retirement Ready Show

Here’s the thing: We’re all living longer than any generation before us, and those numbers are only rising. With medical advancements and technological achievements, our life expectancy has increased over the years where some can expect to spend potentially three to four decades in retirement. That’s about as long as you’ve spent working to get to retirement. But it begs the question: How will I know if I’ve saved enough for retirement if I don’t even know how long may I live? What will I do if I just run out of money at the age of 87? It’s not like you can go back to work, nor should you! In this episode, we’ll discuss five ways you can run out money in retirement, and how to avoid those mistakes from happening. The Retirement Ready radio show is featured every Saturday on WTMJ 620 AM at 1:00 pm. We will bring you information on: Social Security options, retirement trends, options to retire with life changes and achieving a secure financial future. Listen live: www.wtmj.com/listen-live Investment advisory services provided by Drake & Associates, LLC, a State of Wisconsin registered investment adviser. Insurance products are offered through a separate company, LOFT Financial Advisory Group, LLC, a Wisconsin Insurance agency, clients are under no obligation to purchase any recommended insurance products. Advice and opinions expressed during Retirement Ready are solely that of the hosts or guests of Drake & Associates, LLC and not WTMJ Radio or Good Karma Brands Milwaukee, LLC.

The Retirement Ready Show with Tony Drake, CFP® — Social Security, taxes, Roth conversions, and retirement income, every week from Drake & Associates. Saturdays 12pm & Sundays 7am on WTMJ 620 AM / 103.3 FM Milwaukee. Talk with us: go.oncehub.com/scheduleacomplimentaryconsultation. If the show has helped you, leave a rating on Apple Podcasts or Spotify — it's how new listeners find us.

Weekly market commentary brought to you by Tony Drake, CFP® of Drake & Associates, LLC in Waukesha, Wisconsin. Find us at WealthWisconsin.com and weekly on WTMJ 620AM Saturdays at 1:00 pm on the Retirement Ready radio show. Investment advisory services provided by Drake & Associates, LLC, a State of Wisconsin registered investment adviser. Insurance products are offered through a separate company, LOFT Financial Advisory Group, LLC, a Wisconsin Insurance agency, clients are under no obligation to purchase any recommended insurance products. S&P 500 Index is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ. The DJIA was invented by Charles Dow back in 1896. The Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of stocks of technology companies and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indices from Europe, Australia, and Southeast Asia. The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market. You cannot directly invest in an index. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Diversification does not guarantee profit nor is it guaranteed to protect assets. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision. Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors. Drake & Associates does not offer tax or legal advice.

The Retirement Ready Show with Tony Drake, CFP® — Social Security, taxes, Roth conversions, and retirement income, every week from Drake & Associates. Saturdays 12pm & Sundays 7am on WTMJ 620 AM / 103.3 FM Milwaukee. Talk with us: go.oncehub.com/scheduleacomplimentaryconsultation. If the show has helped you, leave a rating on Apple Podcasts or Spotify — it's how new listeners find us.

We all want to avoid fees in life, although it is very hard to do. Fees are everywhere – from ATM fees, to shipping fees, convenience fees, and many other places. Some fees are very transparent, while others are harder to find. There are people who are willing to pay fees if they are insignificant in cost and add ease to their particular situation. However, hidden fees in your investments is something you do not want to take lightly. Many investors are completely unaware of the fees they are paying on many of their accounts. In this episode, we want to help you understand the different types of hidden fees that are common in many investments. The more you pay in fees, the less money you could have, plain and simple. If you continue to pay unnecessary fees year after year, these will compound and eat away at your retirement savings. We all want to have more money when we retire, so how can we accomplish this? One way to work toward this goal is to avoid the hidden fees that many investors are paying year after year. And we are not saying that you shouldn’t pay fees at all, we just believe you should know exactly what you are paying in fees when investing your hard-earned dollars that you’ve worked all your life to accumulate. The Retirement Ready radio show is featured every Saturday on WTMJ 620 AM at 1:00 pm. We will bring you information on: Social Security options, retirement trends, options to retire with life changes and achieving a secure financial future. Listen live: www.wtmj.com/listen-live Investment advisory services provided by Drake & Associates, LLC, a State of Wisconsin registered investment adviser. Insurance products are offered through a separate company, LOFT Financial Advisory Group, LLC, a Wisconsin Insurance agency, clients are under no obligation to purchase any recommended insurance products. Advice and opinions expressed during Retirement Ready are solely that of the hosts or guests of Drake & Associates, LLC and not WTMJ Radio or Good Karma Brands Milwaukee, LLC.

The Retirement Ready Show with Tony Drake, CFP® — Social Security, taxes, Roth conversions, and retirement income, every week from Drake & Associates. Saturdays 12pm & Sundays 7am on WTMJ 620 AM / 103.3 FM Milwaukee. Talk with us: go.oncehub.com/scheduleacomplimentaryconsultation. If the show has helped you, leave a rating on Apple Podcasts or Spotify — it's how new listeners find us.

Weekly market commentary brought to you by Tony Drake, CFP® of Drake & Associates, LLC in Waukesha, Wisconsin. Find us at WealthWisconsin.com and weekly on WTMJ 620AM Saturdays at 1:00 pm on the Retirement Ready radio show. Investment advisory services provided by Drake & Associates, LLC, a State of Wisconsin registered investment adviser. Insurance products are offered through a separate company, LOFT Financial Advisory Group, LLC, a Wisconsin Insurance agency, clients are under no obligation to purchase any recommended insurance products. S&P 500 Index is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ. The DJIA was invented by Charles Dow back in 1896. The Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of stocks of technology companies and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indices from Europe, Australia, and Southeast Asia. The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market. You cannot directly invest in an index. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Diversification does not guarantee profit nor is it guaranteed to protect assets. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision. Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors. Drake & Associates does not offer tax or legal advice.

The Retirement Ready Show with Tony Drake, CFP® — Social Security, taxes, Roth conversions, and retirement income, every week from Drake & Associates. Saturdays 12pm & Sundays 7am on WTMJ 620 AM / 103.3 FM Milwaukee. Talk with us: go.oncehub.com/scheduleacomplimentaryconsultation. If the show has helped you, leave a rating on Apple Podcasts or Spotify — it's how new listeners find us.

Prior to the days of GPS and the smartphone, when you wanted to go on a trip, there was a very useful tool that you could use to help you chart out your trip. It was called a map! Seems ancient, right? Of course, today, the map is at your disposal with a few swipes of your finger on your smartphone. And we use them on a regular basis to make sure we wind up where we want to be when we set out to visit a new destination. And, boy, does the analogy fit well when leaving the workforce and entering your retirement journey. You know how you want your trip to go, and you know what the end result should be. You’ve had a lot of time to think about your trip and you most certainly look forward to the experience. So, it makes sense that when the time comes, you should chart out your retirement map… and that’s exactly the concept we’ll cover in this episode. The Retirement Ready radio show is featured every Saturday on WTMJ 620 AM at 1:00 pm. We will bring you information on: Social Security options, retirement trends, options to retire with life changes and achieving a secure financial future. Listen live: www.wtmj.com/listen-live Investment advisory services provided by Drake & Associates, LLC, a State of Wisconsin registered investment adviser. Insurance products are offered through a separate company, LOFT Financial Advisory Group, LLC, a Wisconsin Insurance agency, clients are under no obligation to purchase any recommended insurance products. Advice and opinions expressed during Retirement Ready are solely that of the hosts or guests of Drake & Associates, LLC and not WTMJ Radio or Good Karma Brands Milwaukee, LLC.

The Retirement Ready Show with Tony Drake, CFP® — Social Security, taxes, Roth conversions, and retirement income, every week from Drake & Associates. Saturdays 12pm & Sundays 7am on WTMJ 620 AM / 103.3 FM Milwaukee. Talk with us: go.oncehub.com/scheduleacomplimentaryconsultation. If the show has helped you, leave a rating on Apple Podcasts or Spotify — it's how new listeners find us.

Weekly market commentary brought to you by Tony Drake, CFP® of Drake & Associates, LLC in Waukesha, Wisconsin. Find us at WealthWisconsin.com and weekly on WTMJ 620AM Saturdays at 1:00 pm on the Retirement Ready radio show. Investment advisory services provided by Drake & Associates, LLC, a State of Wisconsin registered investment adviser. Insurance products are offered through a separate company, LOFT Financial Advisory Group, LLC, a Wisconsin Insurance agency, clients are under no obligation to purchase any recommended insurance products. S&P 500 Index is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ. The DJIA was invented by Charles Dow back in 1896. The Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of stocks of technology companies and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indices from Europe, Australia, and Southeast Asia. The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market. You cannot directly invest in an index. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Diversification does not guarantee profit nor is it guaranteed to protect assets. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision. Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors. Drake & Associates does not offer tax or legal advice.

The Retirement Ready Show with Tony Drake, CFP® — Social Security, taxes, Roth conversions, and retirement income, every week from Drake & Associates. Saturdays 12pm & Sundays 7am on WTMJ 620 AM / 103.3 FM Milwaukee. Talk with us: go.oncehub.com/scheduleacomplimentaryconsultation. If the show has helped you, leave a rating on Apple Podcasts or Spotify — it's how new listeners find us.

One of the most common areas that pre-retirees and retirees have surrounds their Social Security benefit. For most people, they understand that they are entitled to some sort of a benefit, and they are estimating that based on years of receiving a “statement of benefits” from the Social Security Administration. However, as you know, the program is much more complex. Common questions involve when to take Social Security, how the spousal benefit works, and whether a pension might affect their future Social Security check. This episode is designed to provide a basic education for the listeners about the most important areas to understand when it comes to Social Security. The Retirement Ready radio show is featured every Saturday on WTMJ 620 AM at 1:00 pm. We will bring you information on: Social Security options, retirement trends, options to retire with life changes and achieving a secure financial future. Listen live: www.wtmj.com/listen-live Investment advisory services provided by Drake & Associates, LLC, a State of Wisconsin registered investment adviser. Insurance products are offered through a separate company, LOFT Financial Advisory Group, LLC, a Wisconsin Insurance agency, clients are under no obligation to purchase any recommended insurance products. Advice and opinions expressed during Retirement Ready are solely that of the hosts or guests of Drake & Associates, LLC and not WTMJ Radio or Good Karma Brands Milwaukee, LLC.

The Retirement Ready Show with Tony Drake, CFP® — Social Security, taxes, Roth conversions, and retirement income, every week from Drake & Associates. Saturdays 12pm & Sundays 7am on WTMJ 620 AM / 103.3 FM Milwaukee. Talk with us: go.oncehub.com/scheduleacomplimentaryconsultation. If the show has helped you, leave a rating on Apple Podcasts or Spotify — it's how new listeners find us.

Weekly market commentary brought to you by Tony Drake, CFP® of Drake & Associates, LLC in Waukesha, Wisconsin. Find us at WealthWisconsin.com and weekly on WTMJ 620AM Saturdays at 1:00 pm on the Retirement Ready radio show. Investment advisory services provided by Drake & Associates, LLC, a State of Wisconsin registered investment adviser. Insurance products are offered through a separate company, LOFT Financial Advisory Group, LLC, a Wisconsin Insurance agency, clients are under no obligation to purchase any recommended insurance products. S&P 500 Index is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ. The DJIA was invented by Charles Dow back in 1896. The Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of stocks of technology companies and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indices from Europe, Australia, and Southeast Asia. The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market. You cannot directly invest in an index. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Diversification does not guarantee profit nor is it guaranteed to protect assets. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision. Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors. Drake & Associates does not offer tax or legal advice.

The Retirement Ready Show with Tony Drake, CFP® — Social Security, taxes, Roth conversions, and retirement income, every week from Drake & Associates. Saturdays 12pm & Sundays 7am on WTMJ 620 AM / 103.3 FM Milwaukee. Talk with us: go.oncehub.com/scheduleacomplimentaryconsultation. If the show has helped you, leave a rating on Apple Podcasts or Spotify — it's how new listeners find us.

Baby Boomers are considered anyone who was born between 1946 and 1964. So, the first Baby Boomers are in their 70s now. The age and the instance are important to the retirement landscape in general. You see, according to Pew Research, 1.5 million Americans turned 70 in 2019 and will do so every year for the next 15 years. The age 70 itself is significant because of the required minimum distribution rule, a rule that forces retirees who turn 72 years of age to start taking distributions from their assets each year. This episode is designed to explore the issues that many Baby Boomers face and help you with strategies on what to do to succeed in your version of retirement! The Retirement Ready radio show is featured every Saturday on WTMJ 620 AM at 1:00 pm. We will bring you information on: Social Security options, retirement trends, options to retire with life changes and achieving a secure financial future. Listen live: www.wtmj.com/listen-live Investment advisory services provided by Drake & Associates, LLC, a State of Wisconsin registered investment adviser. Insurance products are offered through a separate company, LOFT Financial Advisory Group, LLC, a Wisconsin Insurance agency, clients are under no obligation to purchase any recommended insurance products. Advice and opinions expressed during Retirement Ready are solely that of the hosts or guests of Drake & Associates, LLC and not WTMJ Radio or Good Karma Brands Milwaukee, LLC.

The Retirement Ready Show with Tony Drake, CFP® — Social Security, taxes, Roth conversions, and retirement income, every week from Drake & Associates. Saturdays 12pm & Sundays 7am on WTMJ 620 AM / 103.3 FM Milwaukee. Talk with us: go.oncehub.com/scheduleacomplimentaryconsultation. If the show has helped you, leave a rating on Apple Podcasts or Spotify — it's how new listeners find us.

Weekly market commentary brought to you by Tony Drake, CFP® of Drake & Associates, LLC in Waukesha, Wisconsin. Find us at WealthWisconsin.com and weekly on WTMJ 620AM Saturdays at 1:00 pm on the Retirement Ready radio show. Investment advisory services provided by Drake & Associates, LLC, a State of Wisconsin registered investment adviser. Insurance products are offered through a separate company, LOFT Financial Advisory Group, LLC, a Wisconsin Insurance agency, clients are under no obligation to purchase any recommended insurance products. S&P 500 Index is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ. The DJIA was invented by Charles Dow back in 1896. The Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of stocks of technology companies and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indices from Europe, Australia, and Southeast Asia. The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market. You cannot directly invest in an index. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Diversification does not guarantee profit nor is it guaranteed to protect assets. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision. Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors. Drake & Associates does not offer tax or legal advice.

The Retirement Ready Show with Tony Drake, CFP® — Social Security, taxes, Roth conversions, and retirement income, every week from Drake & Associates. Saturdays 12pm & Sundays 7am on WTMJ 620 AM / 103.3 FM Milwaukee. Talk with us: go.oncehub.com/scheduleacomplimentaryconsultation. If the show has helped you, leave a rating on Apple Podcasts or Spotify — it's how new listeners find us.