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Retirement Reality Podcast

Retirement Reality Podcast

Mike Kojonen

Weekly financial and retirement planning guidance with Mike Kojonen of Principal Preservation Services. Mike serves western Wisconsin and the Twin Cities areas of Minnesota. He's the co-author of Momma's Secret Recipe for Retirement Success and will impart financial wisdom each week on this podcast.
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Top 10 Retirement Reality Podcast Episodes

Goodpods has curated a list of the 10 best Retirement Reality Podcast episodes, ranked by the number of listens and likes each episode have garnered from our listeners. If you are listening to Retirement Reality Podcast for the first time, there's no better place to start than with one of these standout episodes. If you are a fan of the show, vote for your favorite Retirement Reality Podcast episode by adding your comments to the episode page.

Retirement Reality Podcast - Ep 50: Financial Issues and Advice for Women
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09/10/20 • 21 min

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 women with finances?

7:59 – Women in difficult financial situations

9:43 – Challenges faced by widowed women

11:43 – Advice for men

13:22 – A memorable story

17:36 – Mailbag: Financial issues in second marriage

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Retirement Reality Podcast - Ep 45: Avoid These Classic Pre-Retiree Mistakes
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08/06/20 • 15 min

We see it all the time. People approach retirement and make these classic mistakes, costing them time and money. Find out how to avoid these common blunders and set yourself up for financial success.

Read more and get additional financial resources here: https://principalpreservationservices.com/ep-45-avoid-these-classic-pre-retiree-mistakes/

On today's show:

2:40 – Investing like you’re younger

4:35 – Taking Social Security too early

6:38 – Failing to focus on tax planning

8:59 – Thinking Medicare will cover all your needs

10:20 – Taking on extra risk

13:10 – Mailbag question

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Retirement Reality Podcast - Ep 33: Are You in a Bad Investment?

Ep 33: Are You in a Bad Investment?

Retirement Reality Podcast

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05/07/20 • 20 min

Okay, so there might not be such a thing as a ‘bad financial product’, but there are certainly inappropriate investments out there for people in certain situations. We’ll explore some examples of those kinds of situations on this episode and you might be surprised just how common it is for people to be invested in products that are ill-suited for their financial goals.

Read more and get additional resources here: https://principalpreservationservices.com/ep-33-are-you-in-a-bad-investment/

Today's show schedule:

1:05 – A recent study found a bad savings trend for Americans.

4:04 – Does Mike agree that there aren’t bad financial products, mainly just bad fits for people?

5:15 – Mike shares the worst investments he remembers seeing from a client.

7:59 – Do clients have any idea how they got into these bad investments?

9:48 – There are usually ways to correct your mistakes and get into correct investments. Mike shares a story.

12:31 – Making changes can benefit you greatly and here’s another story about a past client.

14:45 – Mailbag Question #1: How much long-term care coverage is recommend? It seems there are hundreds of options out there.

17:45 - Mailbag Question #2: I’ve had the same financial advisor for 20 years but it seems like he’s phasing out and passing things on to a younger advisor in the firm. Should we stick with them or find somebody new?

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Retirement Reality Podcast - Ep 29: Setting Financial & Retirement Goals
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04/02/20 • 19 min

We talk all the time about how people need to give their dollars purpose or set goals for their retirement and even specifically for certain investments. But let’s dive deeper into what different goals look like for various folks approaching retirement. How do you determine if a goal is realistic or out of reach? We’ll tackle that conversation with plenty of examples on this episode.

Read more and get additional resources here: https://principalpreservationservices.com/ep-28-setting-financial-retirement-goals/

Today's rundown:

1:35 – It’s a busy time around the office.

3:33 – What general goals can everyone shoot for when building a plan?

5:30 – Not having a plan is planning to fail.

5:55 – You don’t have to completely understand finances to build a plan and set goals. That’s what we’re for.

7:26 – How do you help someone determine what their goals are?

8:46 – What unrealistic goals have you heard from people?

11:35 – How can you know if your financial goal is realistic and achievable?

13:19 – Mike shares a client story about underestimating expenses.

14:50 – Mailbag question: I just looked at Social Security estimate and see how much I’d get at 62, 66, and 70. I’m blown away by how much more I’d get at 70. I’m inclined to wait as long as possible to start it event though I’ll retire around 66. Is that the best option for me?

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Retirement Reality Podcast - Ep 26: What’s Your Level of Desire to Retire?
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03/12/20 • 22 min

When you think about retirement, are you someone that pictures yourself working for as long as you can or do you want to hang it up as soon as financially possible? Everyone has a different level of desire when it comes to retiring and we’ll span the full spectrum on this episode.

Read more and get additional resources here: https://principalpreservationservices.com/ep-26-whats-your-level-of-desire-to-retire/

Today's rundown:

2:48 – Getting to Know Mike: What’s your favorite sport?

5:21 – Moving into our main topic on desire to retire.

5:41 – Level 1: ‘I don’t see myself retiring. I love what I do.’

6:49 – Level 2: ‘I guess I could retire but they pay me pretty well and I don’t hate it. So I might as well keep working.’

7:35 – Mike shares a story about a trip to California and a retirement conversation he had.

8:52 – Level 3: ‘I’d like to retire in a few years but I’m not really sure when I can.’

11:05 – Level 4: ‘I always pictured myself working for a few more years but the idea of retirement is looking better and better.’

13:28 – Level 5: ‘I want to retire tomorrow and if I don’t quit this job right now, they might have to put me in an asylum.’

16:28 – Here’s how you can start the planning process regardless of your level.

17:54 – Mailbag question: It appears I’m now able to contribute more to my 401k this year than I was allowed to last year. Is it safe to assume I should put in the extra amount?

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Retirement Reality Podcast - Retirement Questions Every Generation Is Asking (Baby Boomers)
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03/28/24 • 20 min

Each generation is currently navigating a unique part of the retirement planning experience. With many baby boomers preparing for the transition into retirement and the early half of Generation Z taking their initial steps into the career field, these major life events come with a handful of financial planning questions. Over the next few weeks, we’ll share insights into the unique concerns that echo across different age groups.

We're starting this series with the baby boomer generation, as a majority of Mike's clients belong to this demographic.

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

  • How do I manage the risks of market volatility as I approach retirement?
  • What's the best approach for transitioning from a steady income to retirement withdrawals?
  • What steps can I take to address rising healthcare costs in my retirement plan?
  • What's the best way to pass on wealth without sacrificing my own retirement?
  • What are the best ways to maximize my Social Security benefits for a more secure retirement?
  • Should I consider downsizing or relocating in retirement?
  • Listener question: As a pastor, I have the opportunity to opt out of Social Security. Is this something I should consider?

To get in touch with Mike, visit our website: http://principalpreservationservices.com

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Retirement Reality Podcast - How Is Technology Redefining Retirement Planning?
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03/14/24 • 23 min

Today we will unpack the toolbox of technology that's promising to redefine retirement planning, but does it deliver? This episode takes a critical look at the wave of innovations, from personal finance management software to online calculators, and questions whether they truly simplify the planning process or introduce new complexities.

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

  • The rise of robo-advisors and the ways they aren’t able to keep up with comprehensive planning.
  • Online calculators work for some things but can’t take into account all the factors we can in a projection.
  • Webinars are more common and much easier to be a part of, but Mike explains why he still prefers in-person events.
  • Social media has its positives but it also exposes you to people that might seem like they’re much more successful than they truly are.
  • Digital estate planning services can provide some the basics for people but they don’t handle complexity as well as working with an attorney does.

To get in touch with Mike, visit our website: http://principalpreservationservices.com

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Retirement Reality Podcast - How One Overlooked Issue Can Sink Your Retirement
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02/22/24 • 18 min

In today’s episode, we spotlight some of the single oversights that could send your dreams to the bottom. We'll share key strategies to plug the gaps, ensuring your financial ship stays buoyant and on course. Tune in to protect your future from the one mistake that could derail everything.

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

  • The importance of having a robust financial strategy that ensures a steady income throughout retirement.
  • Investment strategies to keep pace with, or beat, inflation.
  • You have to consider long-term care costs in retirement planning.
  • Strategies to mitigate this risk, such as diversification and proper asset allocation.

To get in touch with Mike, visit our website: http://principalpreservationservices.com

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Retirement Reality Podcast - Retirement Planning Is Different For Women: Here’s Why
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02/08/24 • 19 min

In this episode, we’ll share some eye-opening statistics and actionable advice to empower women in their financial journey. From the persistent gender pay gap to the impact of caregiving responsibilities and higher debt burdens, this is why retirement planning is different for women.

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

  • Even though they make up almost half of the workforce, women receive lower compensation than men across almost every occupation.
  • Women are more likely to face career interruptions.
  • Longer life expectancy and divorce can create additional challenges for women when they’re suddenly on their own.
  • Only 53% of women feel confident enough to retire.

To get in touch with Mike, visit our website: http://principalpreservationservices.com

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Retirement Reality Podcast - Ep 74: What Retirement Are You Living For?
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07/22/21 • 16 min

All the hard work and time you spend during your working career should be enjoyed in retirement, but what type of motivation do you have? Let’s explore some of the primary motivations that people have for retirement and how planning can help you reach that.

Read more and get additional financial resources here: https://principalpreservationservices.com/ep-74-what-retirement-are-you-living-for/

What we discuss on this episode:

1:52 – Spending more time with your family

3:53 – Want to buy stuff

6:10 – The desire to travel

8:56 – Helping your grandchildren with college

11:15 – Donating to a charity

13:32 – Mailbag question on money creating stress in a relationship

14:30 – Mailbag question on Social Security

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FAQ

How many episodes does Retirement Reality Podcast have?

Retirement Reality Podcast currently has 158 episodes available.

What topics does Retirement Reality Podcast cover?

The podcast is about News, Investing, Podcasts and Business.

What is the most popular episode on Retirement Reality Podcast?

The episode title 'How Is Technology Redefining Retirement Planning?' is the most popular.

What is the average episode length on Retirement Reality Podcast?

The average episode length on Retirement Reality Podcast is 20 minutes.

How often are episodes of Retirement Reality Podcast released?

Episodes of Retirement Reality Podcast are typically released every 13 days, 23 hours.

When was the first episode of Retirement Reality Podcast?

The first episode of Retirement Reality Podcast was released on Aug 26, 2019.

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