Your Retirement With Sam Duell

Sam, Andi, and Luke discuss Roth Conversions and scenarios where it would and would not make sense to consider them.  They offer proactive strategies to help ensure you can maintain your lifestyle in retirement and they identify challenges boomers nearing retirement face and how to meet them.

Reach Duell Financial Strategies at 800-203-7486.

Duell Financial Strategies

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Sam, Andi, and Luke offer their take on some recent retirement stories.  They also discuss possible fixes to the challenges Social Security faces and finding that balance between funding your needs and your wants in retirement.

Reach Duell Financial Strategies at 800-203-7486.

Duell Financial Strategies

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Generation X is facing challenges in saving for retirement and is often compared to Jan Brady, the middle child of the Brady Bunch. Many Gen Xers are starting to turn 59 and a half, which is the earliest age to start withdrawing money from retirement assets without penalty. However, Gen X has been overshadowed by the attention given to millennials and baby boomers, resulting in a significant gap in their ability to save enough for retirementDual Financial Strategies can provide personalized retirement lifestyle reviews and guidance to help individuals plan for retirement. In this segment, the hosts discuss where to go for financial insight and offer tips for getting started with the help of a financial professional. They emphasize the importance of paying off high-interest debt before focusing on savings. They distinguish between good debt (income-generating) and bad debt (credit card debt with high interest rates). They also discuss the need to assess risk tolerance and ensure that investments are aligned with individual goals. Finally, they explain the basics of a 401k and a pension as employer-sponsored retirement accounts.

Reach Duell Financial Strategies at 800-203-7486.

Duell Financial Strategies

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Sam, Andi, and Luke open with suggested strategies given the changes in the retirement landscape.  They also discuss artificial intelligence and what role it can play in financial planning.  When meeting with a financial professional, there are some questions you may be hesitant to ask.  Sam, Andi, and Luke stress the importance of these questions such as how much they are paid, what are their qualifications, and what is their investment strategy.

Reach Duell Financial Strategies at 800-203-7486.

Duell Financial Strategies

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Sam, Andi, and Luke address the fact that some 10,000 baby boomers reach retirement age and the effect that can have on different retirement entities and components such as Social Security, Medicare, overall healthcare, and the labor market.  They also highlight five key strategies to consider when you are five years away from retirement and suggest good questions you may consider asking when you begin your retirement planning process.

Reach Duell Financial Strategies at 800-203-7486.

Duell Financial Strategies

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Sam and Andi discuss changes in retirement planning over the years including the transition from defined benefit to defined contribution plans, the introduction of Roth, Health Savings Accounts, and changes in RMD ages.  They take a deep dive into annuities in explaining the different types and how to choose which one possibly could be a good fit for you.  They also discuss the challenges we face with higher interest rates and inflation.

Reach Duell Financial Strategies at 800-203-7486.

Duell Financial Strategies

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Sam, Andi, and Luke clear up some misconceptions about retirement including how much you’ll spend, how long your retirement may be, believing you can live off less, when you’ll retire, and how much your tax burden will be.

Reach Duell Financial Strategies at 800-203-7486.

Duell Financial Strategies

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Sam, Andi, and Luke talk about measures to take to avoid regrets that some have upon entering retirement including missed investment opportunities, debt, not having an emergency fund, and not including their spouse in the process.  They also weigh in on some comments from people in the financial world including David Kostin, Jamie Dimon, and Larry Fink and tie their comments into the retirement mindset.

Reach Duell Financial Strategies at 800-203-7486.

Duell Financial Strategies

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Sam and Luke provide tips for boosting retirement savings for individuals who may have started late. They discuss catch-up contributions for individuals over 50, the importance of considering risk tolerance when investing, the option of delaying retirement, and the need to strategically plan for healthcare costs. They also emphasize the importance of establishing multiple retirement income sources and the need for periodic rebalancing of investment portfolios.

Reach Duell Financial Strategies at 800-203-7486.

Duell Financial Strategies

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Sam and Luke cover some good retirement opportunities.  Some are relatively new and come from Secure Act 2.0 including Roth Accounts and Defined Contribution Plans, student loan payback strategies, and special catch up contributions.  Some of the tried and true strategies revolve around Social Security, understanding sequence of returns risk, and accounting for inflation.  They also discuss the spousal retirement approach in stressing open communication and the need for compromise.  Sam and Luke then move into a discussion on the importance of knowing what fees you are paying.

Reach Duell Financial Strategies at 800-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.