Planning for major life events can be very exciting, but it can also be very stressful. These types of events should require some deep thought and a thorough planning process. Some people enjoy the planning process and take the time to do so, while others do not spend as much time preparing. It is important to plan properly in order to be successful. Today, we want to discuss the importance of retirement planning, and how to avoid the common misconceptions many people make while planning for retirement.

Misconceptions are common in every area of life, and especially when it comes to retirement. Your golden years should be the best years of your life, so we want to clear the air and make sure you understand the next phase of your life. People tend to assume things when it comes to different areas of life. It’s a part of life, and it will always be a part of how people think. However, assumptions and misconceptions can be damaging if you make them towards important decisions in your life before fully understanding each position. 

Many individuals believe that all or most of their savings should be in qualified plans. What exactly is a qualified plan? Simply put, a qualified plan is one where your contributions are not taxed until you withdraw money from the plan. These can be very appealing because they allow your money to grow on a tax-deferred basis. Examples of qualified accounts include traditional IRAs, 401(k)s and other defined benefit plans. These are commonly the largest nest egg that pre-retirees build as they are working. This makes sense because most of the time, you are taking a portion out of each paycheck and putting it towards a retirement account and, hopefully, you are receiving a company match. So naturally, many people believe that all or most of their retirement savings should belong in a qualified plan. We are here to explain why this is not necessarily the case.

 Today’s topic is one that has been in the headlines for quite some time now. It seems inflation is on everyone’s mind, and rightfully so. Since the pandemic hit and stimulus spending began stacking up, there have been discussions of how these bills could impact retirees and their retirement savings. But how do we cope? We know there is risk that comes with investing in the stock market. We also know there could be fees when money sits in the bank and other accounts. To combat this risk, some people have a “mattress fund” or a coffee can in the backyard to keep their money from going anywhere. But inflation affects every single dollar you save, no matter where it’s invested. So, what's the relationship between inflation and retirement?

Well, inflation is when the value of a currency is falling, and consequently, the cost of goods and services is rising. We have no control over it. However, it has a big impact on our finances, yet people do not think much of it as they prepare for retirement. We are living in very uncertain times, and the government has promised to spend $6 trillion in COVID-19 relief. Whenever the government is spending that much, inflation is likely to rise, which means now is the time to make sure your retirement accounts for inflation. So, today we want to go over the relationship between inflation and retirement and a  plan for the possible blow of inflation.

Today is a big show because… we’re telling secrets! Retirement success secrets! For real though, we are going over some keys to retirement planning that you may not know about. And our goal with the show today is simple. If you are retiring soon, we want you to be as confident as you can be in your position. We don’t want you to be constantly worrying that you might not have enough money, or that the next market cycle might derail your plan, or that you can’t spend confidently. We want you to spend your retirement worrying less about your money and more about your life. And in order to do just that, you need to have the best plan that you can.

If you are listening to this show then you are likely searching for an upper edge. What for exactly? Maybe with investments, or the market, or your own personal financial plan. Or maybe you are simply trying to learn some key information that you didn’t know before with hopes that said information will help you have a better chance at success when it comes to your retirement. Retirement is a pretty big deal after all, and it makes sense to double or even triple check your plan. So, what is it that you don’t already know that you should know? Are there any unknowns left out there that could impact your retirement life and your chances at success? Today’s show uncovers some financial planning topics and keys that might give you the upper hand.

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 today’s show, we’ll discuss five ways to avoid running out of money in retirement, and keep those mistakes from happening.

Outliving your income is a real challenge for today’s retirees. You need to help protect your income while growing it to ensure you’ll always have enough to last throughout your retirement. Every decision you make along the road to retirement can impact the decisions that follow. That’s why it’s so important to make good and prudent decisions early, and to avoid making bad ones. So, let’s start shining a spotlight on five common ways retirees can run out of money in retirement and how to avoid each of them.

There is a theory that has been going around the financial industry lately. And the theory is the idea of asking yourself a question: “When it comes to your money and your investments, are you focusing your decision-making process on the retirement tools, or are you focusing on a retirement strategy?” They may seem like the same thing to you. But they actually aren’t. Think about a contractor. He has a tool belt that is full of tools. But not every job he takes requires him to use every tool. And your retirement strategy is no different. So, today we’re going to help you understand the difference between retirement tools and retirement strategies. Hopefully how to go about developing the strategy that will help you and your family. 

Let's first, discuss ways to differentiate between retirement tools and retirement strategies. You can think of retirement tools as all the different investment products and financial products that you can choose to invest money in. And you can think of retirement strategies as the concepts and theories that you can devise that will help you figure out exactly which retirement tools might be the best tools to help you accomplish the goals and objectives that you have for your situation.

Today’s show is all about living comfortably while retired. You know, when you leave the workforce and enter retirement, you are going from “paycheck” mode to “NO paycheck” mode. That can be a huge adjustment for most people. One of the most important things is making sure that you have the right monthly income budget. So, let's walk through  exactly why it’s so important to have a  monthly retirement budget, and how to create one.

It's a common question, “Do I have enough to retire?” And it’s a good question if you want to retire in the near future. The problem is that you're often lead to believe that you need to focus on how much you have saved for retirement. This focus, however, ignores what you actually need to live comfortably. So, let's try to change that focus. Let's go over, the importance of having a solid retirement income budget. What is the best way to plan for your retirement budget? Let us help you determine just that!

Most of you have heard of the term “diversification.” It’s used very loosely across the industry, and in a nutshell, it's talking about making sure that you don’t have too much of your money invested in a single spot. We want to give you a roadmap for the different vehicles that you can use today to generate retirement income, how each one works, and the risks involved,

You know, there is a key element of investing that NO ONE seems to be talking about, and how that element plays a BIG role in investing successfully. Roland and Lindsay discuss how identifying this element in your plan is crucial to helping invest successfully.

When trying to grow your overall wealth, investing is arguably one of the best ways to reach those goals. At Roland Financial we passionately believe that women should be investing, and this episode talks about why we believe that.