Retirement Reality Podcast

Welcome to part 2 of our series on mastering retirement cash flow. Last episode, we talked about expenses in your life that might drastically change in retirement. On today’s show, we’ll talk about income and why you need to understand the crucial role of income analysis. We’ll also explain why you never want to retire without an income plan and what various income sources you might have in retire...

In this episode, we’ll explore many of the expenses in your life that might drastically change (one way or another) in retirement. We’ll break those expenses down further to see which ones are the top priorities and analyze some of the other factors that impact your cash flow in retirement.   Here’s some of what we’ll discuss in this episode: What is your housing situation? Is your mortgage paid o...

Get ready to roll up your sleeves and dive into the gritty side of personal finance. In this episode, we reveal how everyday household tasks can serve as reminders of the principles that lead to financial success. From taking out the trash in your investment portfolio to cleaning out the fridge of outdated financial strategies, we'll explore how to declutter your financial life.   Here’s some of w...

It’s time for part two of our series on the biggest money mistakes you might be making in retirement planning. In part one, we shared the pitfalls of taking Social Security benefits too early, taking investment advice from family or friends instead of a financial professional, and other mistakes. Today we’ll highlight six more missteps.   Here’s some of what we’ll discuss in this episode: Have you...

In the complex world of retirement planning, there are countless pitfalls one could fall into. One misstep could lead to some serious financial consequences down the road. In part one of this two-part episode, we’re going to talk about 6 of the biggest money mistakes to avoid in retirement.   Here’s some of what we’ll discuss in this episode: Taking Social Security too early. (2:53) Being too aggr...

It’s time for another mailbag episode! We have an exciting lineup of topics to discuss today. Listen in as we tackle some current questions from our listeners, and you’ll likely gain some invaluable insights to help you make informed financial decisions.   Here’s some of what we’ll discuss in this episode: How can my investment strategy impact my returns? (1:08) How can I protect my savings from l...

Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you're eligible is the best decision for your financial future? In this episode, we're going to debunk the top ten Social Security myths and answer your questions surrounding this topic.   Here’s some of what we’ll discuss in this episode: Myth: The Social Security Admin...

Are you a golfer? Even if you're not, the game of golf can teach us valuable lessons about retirement planning. For example, hitting a hole-in-one might be thrilling, but it won't necessarily guarantee your overall success. In retirement planning, a financial advisor can help you navigate the hazards and make the most of your financial "clubs." Tune in to this episode to learn more about how the g...

We’re willing to bet there are some retirement expenses that you may have forgotten to plan for. In today’s episode we will discuss some areas in your financial plan that you might have initially overlooked.   Here’s some of what we’ll discuss in this episode: Are you prepared for medical expenses? (2:45) Are you prepared for parental and child assistance? (5:58) Are you prepared for home maintena...

Retirement can come with a lot of tax questions and concerns. From understanding the tax implications of withdrawing from your retirement accounts to minimizing taxes on investment income, it can be overwhelming. On today’s episode, we’ll break down the top 10 tax questions retirees are asking in 2023. Here’s some of what we’ll discuss in this episode: What are the tax implications of withdrawing...

After being discussed in Congress for nearly a year and a half, the SECURE Act 2.0 passed in January. On today’s show, we’ll explain what you need to know and learn four ways the new changes might impact you. From Required Minimum Distributions (RMDs) to catch-up contributions, we’ll explain what you need to know about the SECURE Act 2.0. Here’s some of what we’ll discuss in this episode: The Requ...

On this episode, we’ll address five common beneficiary mistakes that, unfortunately, a lot of people make. From making errors to naming minors as beneficiaries, we’ll break down some common blunders.  Are you making one of these beneficiary mistakes? If so, it could cost you and your loved ones dearly. Some of the simplest mistakes can completely spoil an otherwise well done retirement plan. Here’...

Another year is upon us and it’s a great time to ask yourself 10 questions to assess how ready you are for retirement to kick off 2023. If you’re retiring this year, it’s essential to have some concrete answers to these questions. If you’re still a few years from the milestone, tune in so you can start thinking about these critical conversations.   Here’s some of what we’ll discuss in this episode...

The end of the year (or start of a new year) probably means you’re getting a lot of financial statements in your mailbox, or inbox if you’re paperless. Do you ever wonder what some of those terms mean as you look at your 401(k), IRA and other account balances? From fine print to fees, listen to this episode for a breakdown of some of the terms you might come across. On this episode, we’ll share: A...

Sometimes it might seem like talking to your financial advisor feels like talking to a therapist, and that’s ok. Today we’re discussing some scenarios where it’s almost inevitable that a talk with your advisor seems like a counseling session. Whether you’re getting a divorce or having career difficulties, your financial advisor should be there to help guide you through the financial transition. On...

Sometimes you need to find a new financial advisor. Other times, you might think you need a new advisor, but really, you’re just guilty of thinking that the grass is greener on the other side.   Today we’re sharing some common scenarios and whether they’re legitimate reasons for leaving your advisor. We’ll share some hypothetical scenarios and see if any of these apply to you.   On this episode, w...

Getting through retirement can be a lot like running a marathon. From planning and preparation to a proper diet, a lot of these skills work in both worlds. With marathons, you don’t want to start to fast and tire yourself out before the finish. The same can be said for spending your retirement money. Today we’ll share some of the similarities of getting to the finish line in racing and retirement....

Today we're sharing five common questions people ask when they’re forced into retirement. Hopefully, you won’t be in this position, but more and more people are these days. If this scenario does come your way, it’s best to be prepared. We’ll also be answering some mailbag questions today from our listeners. If you don’t have an advisor or want a second opinion, we’d be happy to help. Here is some...

Just like the lights on your dashboard can indicate if something is wrong with your car, such as low tire pressure or leaking oil, there are indicators in your financial life that might point out that you have a problem that needs to be addressed. If any of these raise a red flag for you, it might be time to sit down with your advisor. If you don’t have an advisor or want a second opinion, we’d be...

We’re bombarded with ads each day in all forms of media. But have you ever taken a closer look at these messages? If we unpack some of these headlines and ads a little bit more, we’re able to clearly understand what emotions they’re trying to elicit. More importantly, we can figure out what companies are trying to sell us. Here is some of what you’ll learn on this show: What is meant by ‘invest li...

We always talk about the money side of financial and retirement planning. But what about the mental aspect of that big life change? Today we’ll break down an article written by a Licensed Professional Counselor (Kate Schroeder) for Psychology Today, titled The Psychological Investment In Retirement .   Read the article here: https://www.psychologytoday.com/us/blog/next-change-is-inevitable-growth-...

People have many reasons for procrastinating when it comes to putting a retirement plan together. Let’s explore some of those excuses and why they can be dangerous, and talk about how to overcome them… Here is some of what you’ll learn on this show: Why you should still plan for retirement, even if your parents didn’t. (1:23) How to sort through which financial advisors to listen to. (3:00) Why st...

You’ve most likely heard plenty of “rules” you’re supposed to follow to retire successfully. Some of these rules are stated so confidently, you’d be crazy not to immediately accept them as fact. But we don’t mind the threat of being called crazy, so let’s dive into some of the most popular retirement “rules of thumb” to see if they truly lead us down the path of good financial guidance or run a ch...

Going through a divorce at any age is difficult, but doing it near or in retirement adds all sorts of additional complications. On this episode, we’ll talk about some of the financial mistakes we see people make in the midst of a divorce. Here is some of what you’ll learn on this show: Why choosing the house over other financial assets might not be in your best interest. (2:06) The tax implication...

Don’t dread this as much as you hated hearing these words as a kid, but it’s time for a pop quiz! We’re putting retirement planning preparedness under the microscope with 5 critical questions to which you need to know the answers. So sharpen those pencils and let’s see how ready you are for retirement. Here is some of what you’ll learn on this show: How much income will you need in retirement comp...