Welcome to a new week here on the Retirement Quick Tips podcast! I’m your host Ashley Micciche, co-owner of True North Retirement Advisors, an independent financial advisory practice managing $340 million in client assets. I’m a Chartered Retirement Planning Counselor and I’m using my 15 years of experience as a financial advisor to help you gain clarity and make a plan for the retirement you envision.

On this podcast, I cover everything from investing, to retirement spending, to taxes in retirement in just a few minutes each day, so if you’re 5-10 years on either side of retirement, and looking for some daily doses of retirement planning wisdom, you’re in the right place. 

The theme this week on the podcast is: Top Challenges Retirees Face In 2023

I talk to clients every day about the challenges they face, both in retirement, and in planning for retirement in the next few years. 

For most of my clients, there is a foundational anxiety about running out of money before they run out of years. Every specific challenge you might face in retirement when it comes to your money - whether that’s paying for healthcare, dealing with higher inflation, or needing long-term care - is rooted in the possibility that one of more of these issues will deplete your savings and you’ll lose your financial independence. 

So this week I’ll talk about some of the key challenges that retirees face, both perennially as well as some unique challenges in 2023 specifically. 2 of the more unique challenges for this upcoming year is higher inflation that doesn’t appear to be disappearing anytime soon, as well as unprecedented portfolio declines - even for more conservative bond investors. 

On top of this, retirees also have to contend with taxes, increasing health care costs, and income gaps that can sometimes prove to be unsustainable. 

So whether you’re still working or already retired, stick around this week and I’ll share more about how you can address these challenges in your own life. 

That’s it for today. Thanks for listening! Come on back tomorrow…where I’ll talk about one of the key issues that’s uniquely challenging in 2023 for retirees - inflation. 

My name is Ashley Micciche...and this is the Retirement Quick Tips podcast.

----------

>>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Visit the podcast page: https://truenorthra.com/podcast/ 

----------Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance