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#21 How to Accept the Worry and Start Planning for Retirement

#21 How to Accept the Worry and Start Planning for Retirement

FromRetirement Answer Man


#21 How to Accept the Worry and Start Planning for Retirement

FromRetirement Answer Man

ratings:
Length:
34 minutes
Released:
Jul 14, 2014
Format:
Podcast episode

Description

In this episode, I'll show you how to come to terms with your worry and the uncertainty about retirement.
"I worry"
I talk to a lot of people about retirement. Not only clients but most everyone I meet over age 50.  I'll always ask them what their #1 thought is on retirement. I've learned a lot from this exercise. The most important thing I've learned is that people worry about retirement....alot!.
They worry about:

all the uncertainty
living without a paycheck
inflation
running out of money
maintaining my standard of living
my health and healthcare costs
being a burden to my children
long-term care costs
losing money in the markets
the economy
my country

In this episode, I'll show you how to come to terms with your worry and the uncertainty about retirement. Once you've done that, you'll be free to build a system to manage through the uncertainty in your life. I discuss:

Market uncertainty
Economic uncertainty
Uncertainty in your life

How to begin to manage it by:

Scheduling "little conversations"
Using checklists
Making lots of little adjustments as your life unfolds during retirement

Building this structure is really what this blog, the Retirement Answer Library and podcast is all about. 
Retirement Tip of the Week
The importance of tax diversity on your balance sheet as you near retirement. If you're within 5 years from retirement, why it may make sense to significantly lower the amount you save in your 401(k) retirement plan. 
Resources Discussed

The Retirement Answer Library
Tax Deferred vs. Taxable Savings Calculator

Enjoy the Podcast?
A big THANK YOU to Dean for sending me your kind note, thanking me for the podcast and Retirement Answer Library. So glad it's been helpful to you. It really means the world to me.
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Released:
Jul 14, 2014
Format:
Podcast episode

Titles in the series (100)

A top retirement podcast. Roger Whitney, CFP®, CIMA®, CPWA®, RMA, AIF® guides you on how to actually do retirement well financially and personally. This retirement podcast isn't afraid to talk about the softer side of retirement. It will teach you how to retire with confidence. Two-time PLUTUS winner for best retirement podcast / blog and the 2019 winner for best financial planner blog. This retirement podcast covers how to create a paycheck, medicare, healthcare, Social Security, tax management in retirement as well as retirement travel and other non-financial issues you'll need to address to rock retirement. Retirement isn’t an age OR a financial number. It’s finding that balance between living well today and feeling confident about your retirement. It’s about gaining more freedom to pursue the life you want. Join the rock retirement community at www.rogerwhitney.com