The Universal Truths of Retirement (PART 2)

11/09/23 • 23 min

Candid Conversations: Retirement Talk with Ryan Cravitz

Today we’re going to finish up our two-part conversation that will juxtapose the individuality of retirement plans with the foundational principles that remain constant regardless of who you are. These 10 total truths need to be accounted for when you build a plan for retirement, and we’ll talk about how and why they could have an impact on your financial future.

Here are the retirement truths we discuss in this episode:

Diversification is Essential for Risk Management.
Emotions Can Be an Investor's Worst Enemy.
Tax Implications Matter.
Retirement Doesn't Mean Complete Disengagement from Work.
Estate Planning Isn't Just for the Wealthy.

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Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

Here are the retirement truths we discuss in this episode:

Diversification is Essential for Risk Management.
Emotions Can Be an Investor's Worst Enemy.
Tax Implications Matter.
Retirement Doesn't Mean Complete Disengagement from Work.
Estate Planning Isn't Just for the Wealthy.

Previous Episode

The Universal Truths in Retirement

Retirement is a unique journey for each of us. The thought that there's a one-size-fits-all solution is a myth, but what if we told you there are certain universal truths that can guide every retiree?

We’ll explore the realities that all of us will face in this episode so join us as we juxtapose the individuality of retirement plans with the foundational principles that remain consistent across the board. Everyone might address each of these truths in their own way, but no one should ignore what the things we talk about today.

This list of 10 truths will be broken up into two parts so make sure you stay tuned for the next episode.

Here’s are the truths Ryan will break down:

Everybody needs an income plan.
Everybody needs a plan to address healthcare issues
Nobody can consistently time the stock market successfully.
Nobody knows how long they’re going to live.
Money sitting in cash isn’t keeping up with inflation.

Next Episode

Let’s Answer Some Common Financial Questions

As we close in on the end of the year, we want to finish up by answering questions that people have asked us recently. We’ll cover key financial planning topics like retirement withdrawal rates, investing in CDs, advisor fees, Social Security and more.

Here’s some of what we discuss in this episode:

Is it okay to take a short-term loan to get funds for a closing while you wait for your current home to sell?
Is a 6% withdrawal rate too much in retirement and how do you figure out that number?
CDs have been a good investment in the current interest rate environment but will that continue?
What should you expect from a financial advisor before you pay them any fees?
Can you still take Social Security benefits while your spouse is working?