Retirement Reality Podcast

We live in an era where everyone has a platform and it’s more profitable to be entertaining than to be informative. That’s led to bias in media and finance is no exception. Let’s take a look at the most common places you’ll find bias and how to make sure you’re getting information that’s accurate for your retirement plan.   Show Notes and Additional Resources:  https://principalpreservationservice...

Do you believe you need to be completely debt free to retire successfully? Or are you okay carrying some balances beyond your working years? There are many opinions about the best way to handle debt and retirement planning, so we’ll tackle them all on today’s show.   Read more here:  https://principalpreservationservices.com/ep-20-do-you-need-to-be-debt-free-to-retire/     Today's rundown:  2:12 –...

Nearly everyone invests in mutual funds at one point or another, but is that the best strategy for your retirement plan? As the landscape continues to change, we wanted to look at the ins and outs of mutual funds to give you a better understanding of what you’re buying into. We’re joined by advisor Kasey Byrd to talk about our strategy when it comes to this investment option.   Read more on this t...

Sometimes people say they don’t want to retire and they really mean it. But other times it’s just a defense mechanism to mask the opinion that they don’t feel like they can retire. Let’s look at the common excuses people make and explore the possible meanings behind why you don’t want to retire   Show notes and additional resources:  https://principalpreservationservices.com/ep-18-are-you-making-t...

How do you know if an advisor is a good fit? That’s a question that keeps many people from working with a professional so let’s identify the essential traits every advisor should possess. That might be easier said than done so let’s also talk about how you can determine whether an advisor has these characteristics.   Show notes and additional resources:  https://principalpreservationservices.com/5...

There’s plenty of misinformation and rumors in the world of Social Security and that might cause a little anxiety when it comes time to claim your benefit. On this show, we’ll look to clear up the top 5 misunderstandings about Social Security.   Show Notes and Additional Resources:  https://principalpreservationservices.com/top-5-biggest-social-security-misunderstandings/     Today's Rundown:  1:1...

Not everything goes as planned when it comes to your financial life, but how will you respond to difficult situations? We’ll look at some negative circumstances that many retirees and pre-retirees face and help you find the silver lining.   Show Notes and Additional Resources: https://principalpreservationservices.com/finding-the-silver-lining-in-4-challenging-financial-situations/   On This Episo...

Not everyone wants to leave a financial legacy behind, but for those that do, it’s important to eliminate the common estate planning mistakes. We’ll identify five key missteps that people make when building and managing an estate plan so that you’ll be able to leave exactly what you want to the people that mean the most to you.   Show Notes and Additional Resources:  https://principalpreservations...

With all of the things in the financial world that you can’t control, why would you sabotage your own retirement by messing up the thing you can control? It’s time to discuss the ways in which people damage their retirement and hurt their long-term financial health.   Show Notes and Additional Resources:  https://principalpreservationservices.com/these-mistakes-could-sabotage-your-retirement/    ...

There are things we'd all like to avoid talking about with our advisor because it makes us feel uncomfortable or awkward, but some topics have to be addressed if you want to build a strong retirement portfolio. We’ll take a look at how advisors should help clients navigate various tricky situations.   Full Show Notes:  https://principalpreservationservices.com/are-you-having-these-tough-financial-...

No one wants to reach retirement and wonder what might have happened if they made a few small changes. Simple mistakes can lead to larger financial regrets later in life. On today’s show, we’ll explore some of the things you can do to avoid living with regret in retirement.   Show Notes: https://principalpreservationservices.com/4-tips-for-retiring-without-regret/   Today's Rundown:  1:17 – What d...

While there are some factors that are different for everyone in retirement planning, there are also constants that affect everyone, no matter the specifics of your situation. How do we plan around these constants? We’ll explore that question on this episode   Show Notes: https://principalpreservationservices.com/retirement-constants-that-affect-everyone/   Today's Rundown: 1:06 – Mike’s daughter i...

Retirement planning is most effective when it’s tailored to a specific individual’s needs but what factors should you pay the most attention to? We’ll discuss five retirement variables that will change from person to person but need to be considered when building a financial plan.   Show Notes: https://principalpreservationservices.com/retirement-variables-that-need-to-factor-into-your-plan/   Tod...

No one wants to play the guessing game when it comes to retirement and waiting until the last minute to iron out your plan will leave you unsure about your readiness. That’s why that final decade of work is very important from a retirement planning perspective. Get this list of items in order and you’ll be in great shape when that retirement day arrives. On this episode: 1:36 – Mailbag question: I...

We’ve been enjoying a long bull run over the past decade and that’s made many people fearful that a major downturn is right around the corner. So what might that look like and when could it happen? We discuss the next market crash and how to prepare yourself for it. Today's rundown: 1:20 – Mike’s team is moving into a new office. 2:37 – Mailbag question: Should I work with a younger advisor with l...

When was the last time you took a flight? Did you think at all about how that process related to investing? Probably not, but there are actually some pretty great parallels between retirement planning and flying that we will talk about on this episode. Buckle up and prepare for takeoff.  On this episode:  2:36 – Introducing our topic on today’s show.  3:32 – In the news: 37% of households are ‘fre...

You can’t criticize people that take a proactive approach to their future by putting away savings as they earn, but you can offer up ways to improve the way that they save. Believe it or not, even responsible savers make mistakes because the transition into retirement can be a major lifestyle change. Let’s talk about some of those missteps that happen along the way. Today's rundown:  2:01 – What w...

Have you ever had any type of financial trouble and immediately look to place the blame on external factors? Many times there are situations that make retirement planning difficult, but making excuses rather than looking for solutions will slow down your growth and limit your potential. We’ll share some of the common ‘blame game’ examples we hear and provide you with guidance to get past them. On...

As the year begins to wind down, it becomes a great time to run through a financial checklist to make sure your investments all are on track. These six items will help you decrease your taxes, improve your portfolio, and keep your retirement plan moving forward. Today's rundown: 1:21 – Mike talks about his trip to the Minnesota State Fair. 3:13 – Let’s talk about a 3rd & 4th quarter planning check...

When it comes to retirement planning, there are some widely believed financials myths that you’ve likely heard. Today we’ll look at some of those and try to bust them wide open. The scary thing is that a lot of people base their financial plans on some of these myths. Don’t be like that. 2:22 – Getting to know Mike: Who is somebody that always makes you laugh?   4:25 – Beginning our discussion on...

It’s not uncommon to meet people that aren’t completely satisfied with their financial advisor but don’t feel the need to make a change. Many times, relationships have been formed that prevent clients from making a tough choice, but other times the excuses are a little flimsier. Find out some of the common signs that your advisor might not be a great fit in this episode. Podcast Website: https://p...

Before we launch the first episode of the Retirement Reality podcast, we wanted to introduce you to the show and the people. In this ‘Getting to Know You’ episode, we’ll learn more about Mike Kojonen, his business, and the future of the podcast. Check out the full show notes by clicking here. ----more---- Today's rundown:  1:36 – Introducing the plan for the episode. 1:54 – Getting to know Mike. 6...