Retirement Reality Podcast

If financial planning was simple, no one would need help. Even when we know what we’re supposed to do, it’s not always a certainty that we will. On this episode of the Retirement Reality podcast, we’ll go through some common sense financial statements that ring true to all of us and Mike will explain why we often fall short in following this guidance. If you find yourself getting off-track, make s...

On part two of our estate planning conversation with attorney Patrick Boley, we turn our attention to life after death to discuss the documents you need to have in place. That includes a detailed discussion on wills and trusts, along with the role probates play in the estate process.   Read more and get additional resources here: https://principalpreservationservices.com/ep-70-estate-planning-for-...

Through years of working with clients, we’ve seen that the estate side of planning often gets overlooked. That’s why we’ve asked attorney Patrick Boley of Eckberg Lammers to come on and talk to us about the living documents that every person needs in part one of a two-part series on estate planning.   Read more and get additional resources here: https://principalpreservationservices.com/?p=39915&p...

You can't talk about financial planning without discussing risk, but what does that mean exactly? Risks comes in multiple forms and you have to guard against each when building a plan. Today we'll tell you about the different types of risk and how we help clients manage it.   Read more and get additional financial resources here: http://principalpreservationservices.com     What we discuss on this...

On today’s episode, we’re talking about things that drive your financial advisor crazy about the financial world.      Read more and get additional financial resources here: https://principalpreservationservices.com/retirement-reality-podcast/     What we discuss on this episode:  1:21 – Coronavirus vaccine 3:10 – Hidden fees 5:08 – Advisors who put their own goals ahead of their clients 7:00 – Co...

On today’s episode, we’re talking about things nobody says in the financial planning world and Mike explains why that’s the case.   Read more and get additional resources here: https://principalpreservationservices.com/ep-66-things-nobody-says-in-the-financial-planning-world/     What we discuss on this episode:  3:08 – I really regret putting money into my Roth IRA every year 4:33 – I should have...

Our country has been through some major market crashes over the years. What happened during those events and what can we learn from them?   Read more and get additional financial resources here: https://principalpreservationservices.com/ep-65-lessons-learned-from-biggest-market-crashes-of-all-time/     What we discuss on this show:  1:59 – Black Tuesday 3:50 – Dot com crash 6:25 – 2008 8:42 – 2020...

Today we’re sharing five key questions to see if you are ready for retirement. How well do you know your finances?   Read more and get additional financial resources here: https://principalpreservationservices.com/ep-64-are-you-prepared-for-retirement-take-this-quiz/     What we discuss on this show:  2:42 – Do you know how much you actually have? 5:09 – Do you know how much you’re spending? 7:37...

Variable annuities are a bit of an outcast, the liver and onions of the financial world. Why is that? What are the pros and cons? Mike explains on the show.    Read more and get additional financial resources here: https://principalpreservationservices.com/ep-63-why-variable-annuities-are-the-liver-onions-of-the-financial-world/     What we discuss on this show:  2:27 – Why variable annuities are...

You know the saying, “The customer is always right.” Well, that’s not always the case in the financial world. On this episode of the Retirement Reality Podcast, Mike Kojonen explains why you should rely on your advisor’s expertise.   Read more and get additional financial resources here: https://principalpreservationservices.com/ep-62-in-financial-planning-the-customer-isnt-always-right/     What...

What does diversification mean to you? And is it good financial strategy? On this episode of the Retirement Reality Podcast, Mike Kojonen breaks down the reasons why it’s not always a good financial strategy.    Read more and get additional financial resources here: https://principalpreservationservices.com/ep-61-is-diversification-for-suckers/     What we discuss on this show:  1:58 – Get to know...

Most people have a 401K or other retirement plan, but it’s not as simple as contributing money and collecting it when you retire. There are a lot of decisions you can make about investments, loans, rollovers and more.   Read more and get additional financial resources: https://principalpreservationservices.com/ep-60-frequently-asked-questions-about-401ks/     What we discuss on this show:  2:09 -...

We’re talking specifically to Baby Boomers on this episode. What are the most common challenges, fears and goals of this generation? What are some of the mistakes Boomers often make and how can they be avoided?   Read more and get additional financial resources here: https://principalpreservationservices.com/ep-59-common-retirement-mistakes-and-concerns-of-baby-boomers/     What we discuss on this...

On this episode, we share five commandments that should be written on stone tablets in your retirement plan.   Read more here: https://principalpreservationservices.com/ep-58-five-financial-commandments-to-follow/   What we discuss on this show: 4:13 – Mike talks about a place he never wants to visit again 7:43 – Thou shall not compare your investments to the stock market without the proper contex...

Let’s talk about estate planning, specifically wills and trusts. Find out what’s right for you, how much it costs and more.   Read more on the topic here: https://principalpreservationservices.com/ep-57-what-you-should-know-about-wills-and-trusts/     What we discuss on this show: 2:10 – Getting to know you question 5:39 – Why estate planning is so important 7:19 – Will or trust? 10:41 - You don’t...

Have you ever looked back on a financial decision and thought, “I wish I would have done that differently”? Decisions about money are a lot easier with the benefit of hindsight. On this episode of the Retirement Reality Podcast, Mike Kojonen looks at five common money mistakes people have made this year.   Read more and get additional financial resources here: https://principalpreservationservices...

Have you ever wondered how your savings plan compares to the average American? Vanguard released a report with stats on retirement accounts and we’re going to look at some of the most interesting data to come out of the past year.   Read more and get additional financial resources here: https://principalpreservationservices.com/ep-55-how-does-your-retirement-savings-compare-to-average-american/  ...

Just like technologies change and become outdated, so do some retirement planning strategies. Let’s look at five financial strategies and determine whether or not they still apply.    Read more and get additional financial resources here: https://principalpreservationservices.com/ep-54-five-outdated-financial-strategies/   What we discuss on the show:  2:34 – 4% rule 4:00 – 10/5/3 rule 7:10 - as y...

Clients often ask how housing fits into retirement plans. From downsizing to rental properties to interest rates, let’s explore some of the top retirement questions about housing.   Read more and get additional financial resources here: https://principalpreservationservices.com/ep-53-answers-to-common-housing-and-retirement-questions/     What we discuss on this show:  4:00 – Pay off the house ear...

As life spans continue to increase, so does the need for more money later in life. On this week’s episode of the Retirement Reality Podcast, Mike Kojonen explains how to plan financially for a long life.   Read more and get additional financial resources here: https://principalpreservationservices.com/ep-52-can-you-afford-to-live-a-long-life/     What we discuss on this show:  1:05 – Let’s talk ab...

You’ve heard advice about how to improve your finances and prepare for retirement, but what about mistakes? On this week’s episode of the Retirement Reality Podcast, Mike Kojonen shares five ways you could be ruining your retirement.   Read more and get additional financial resources here: https://principalpreservationservices.com/ep-51-5-ways-to-ruin-retirement/     What we discuss today:  3:28 -...

On this week’s episode, we take a look at some of the financial and retirement challenges that are unique to women and how to handle them.   Read more and get additional financial details here: https://principalpreservationservices.com/ep-50-financial-issues-and-advice-for-women/     What we discuss today:  1:04 – Off-topic: Is this a good time to buy a home or refinance? 4:49 – How engaged are wo...

How can you build a strong financial house? Mike gives you step-by-step instructions to create a solid foundation for your finances.   Read more and get additional financial resources here: https://principalpreservationservices.com/ep-49-how-to-build-a-strong-financial-house/     What we discuss on this episode:  3:56 – Foundation = Income Plan 6:23 – Walls = Investment Plan 8:11 – Roof = Insuranc...

How should you prepare for a market crash? We’re here to help you get through those tough times with a five-step market crash survival guide.   Read more and get additional financial resources here: https://principalpreservationservices.com/ep-48-market-crash-survival-guide/     On today's show:  2:19 - Know how much risk you are exposed to 6:01 - Protect your gains 8:40 - Have appropriate diversi...

Just how ready are you for retirement? We explore some of the faulty thinking that leaves people underprepared when it comes time for retirement.   Read more and get additional resources here: https://principalpreservationservices.com/ep-47-are-you-really-ready-for-retirement/     On today's show: 2:41 – Believing a certain number is all you need 5:22 – Believing you won’t need as much money in re...