Retirement Reality Podcast

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 stress shouldn't keep you from financial planning. (4:28)
• Do you feel too busy to plan for retirement? (5:44)
• When you don't know how to get started on your financial plan, this is what you should do. (7:46)

Visit us online: http://principalpreservationservices.com

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 this show:

0:54 – Introducing the topic for today’s show.

1:15 – Getting to Know Mike: What hobby would you pick up if time and money weren’t an issue?

3:30 – Blame game excuse 1 : My divorce has really messed me up financially.

5:04 – How difficult is to get back on track financially after a divorce?

5:48 – Blame game excuse 2: My old broker did me wrong?

7:12 – Blame game excuse 3: The system is rigged in that Wall Street always wins but not the little guy.

9:37 – Blame game excuse 4: My kids have had trouble finding good jobs since leaving school so I’ve been helping them out for years.

11:17 – Is Mike seeing clients that are dealing with kids living with them longer and relying them for long periods of time.

13:34 – Another common issue Mike sees from clients.

Get the full show notes and additional resources by clicking here: https://principalpreservationservices.com/is-playing-the-blame-game-holding-you-back-financially/

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

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

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