Wealth & Wisdom with Michael Loftus

Ready for an adventure? Think of retirement planning as climbing a mountain. It's not just about the climb up; it's about preparing wisely, tackling the ups and downs, and even planning your way back down. We're talking about setting milestones, dealing with market surprises, and making sure your hard-earned savings last through your entire retirement journey. Join us as we gear up with some smart strategies and insights, making sure you reach the top and enjoy the view.

Plus, Michael reaches back to his days as a DJ to put together the ultimate retirement planning playlist, featuring timeless lyrics that reflect various stages of the planning journey. From setting financial goals to finding purpose in your golden years, this playlist sets the stage for important discussions about crafting your dream retirement.

And finally, we’ll tackle a few financial questions from listeners to close out the show.

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

• We’ll talk about how retirement planning is much like climbing a mountain and we’ll make the comparisons to each leg of the journey.
• Michael will put together his Ultimate Retirement Planning Mixtape.
• Is a short-term loan a good option for a down payment on a home?
• Is it worth selling one of your two homes to get into retirement sooner?
• Is a 6% withdrawal rate in retirement too much?

LEARN MORE:

Recent educational videos on YouTube: https://bit.ly/3CMiRbt
Schedule a meeting with Michael: https://lwsde.com/schedule-a-meeting/
Visit Michael's website for more resources: https://lwsde.com/
Sign up for Newsletter: https://tinyurl.com/2p979jjz

Everyone wants to know. Will the economy boom or bust in 2024? Join us as we explore a range of expert predictions, from the shifting trends in housing prices to the looming question of a potential recession or stock market crash. We'll balance our discussion with both optimistic and pessimistic perspectives from an array of sources to give you a comprehensive view.

For those looking to level up their financial habits in 2024, we’re going to question the real impact of common financial habits. Are the strategies you consider beneficial actually working in your favor? We explore the pros and cons of practices like ignoring account statements and strict budgeting. Join us for a practical discussion, as we uncover the unexpected effects of everyday money decisions.

We’ll close out the show today by answering questions about Social Security, gifting to your children, and investing strategies for young adults.

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

• What can we expect to see from housing prices in 2024?
• What are the chances of a recession this year?
• The good money habits that might actually be holding you back.
• If you’ve reached retirement age but still plan on working, what should you do with Social Security?
• What should you consider if you plan on gifting money and assets to your kids in your 90s?
• What are some good investment ideas for recent college graduates?

LEARN MORE:

Recent educational videos on YouTube: https://bit.ly/3CMiRbt
Schedule a meeting with Michael: https://lwsde.com/schedule-a-meeting/
Visit Michael's website for more resources: https://lwsde.com/
Sign up for Newsletter: https://tinyurl.com/2p979jjz

Today we’re going to finish up the conversation we started on our last show by running through the last five universal truths in retirement. There isn’t a one-size-fits-all solution for retirement planning, but there are certain truths that can guide every retiree. We have five more in this episode that will juxtapose the individuality of retirement planning with the foundational principles that remain consistent from person to person.

From there we’ll unearth and tackle the unasked and overlooked questions in retirement. These hidden, but essential, questions can help define the comfort and security of your retirement future, but they might be a little harder to find answers for. We’ll bring those questions to the forefront today and help explain how to determine the answers for your plan.

We’ll wrap up today’s show with a few mailbag questions from listeners about mortgages in retirement, will or trust for real estate, and RMD amounts.

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

• The final five retirement truths that everyone needs to account for in retirement.
• The ‘hidden’ questions in retirement planning that will need to be answered.
• Is it still okay to get a mortgage at current rates or should you pay cash if you can?
• Do you need a will, trust, or both for leaving rental properties to your children?
• Is there any way you can get around the withdrawal amounts for RMDs?

LEARN MORE:

Recent educational videos on YouTube: https://bit.ly/3CMiRbt
Schedule a meeting with Michael: https://lwsde.com/schedule-a-meeting/
Visit Michael's website for more resources: https://lwsde.com/
Sign up for Newsletter: https://tinyurl.com/2p979jjz

Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you're eligible is the best decision for your financial future? In this episode, we'll be debunking common myths about Social Security and answering the questions you've been curious about.

Plus, we’ll tackle rebalancing a portfolio. Most people will tell you to buy and hold but that’s not a philosophy we always follow and we’ll explain why. It’s important to take profits and re-evaluate your investments as needed.

We’ll also close out this episode by taking a few of your questions on inflation, investment options, and REITs.

Here’s some of what we’ll cover on this show:

• Quote of the month on groceries and perfume. (0:48)
• When and how to rebalance a portfolio. (1:23)
• Top Social Security myths of 2023. (3:44)
• Mailbag question on protecting money during high inflation. (8:00)
• Investment options outside of the 401(k) (9:12)
• Mailbag question about cashing out a REIT. (10:29)

LEARN MORE:

Recent educational videos on YouTube: https://bit.ly/3CMiRbt
Schedule a meeting with Michael: https://lwsde.com/schedule-a-meeting/
Visit Michael's website for more resources: https://lwsde.com/
Sign up for Newsletter: https://tinyurl.com/2p979jjz

Today’s episode will be quick but packed with financial information as we hop through a few different topics.

First, we’ll talk about the main emotions that drive our decision-making with money and how we can be more aware of our actions. Then we’ll answer some of the common questions that people being forced into an early retirement usually ask us. And then we’ll compare football to finance to celebrate the perfect start to the season for the Eagles.

There’s plenty to dive into so let’s get started. If you have any questions about the things we discussed on this episode, please let us know.

Here’s some of what you’ll learn in this episode:

· The main emotions we struggle with when it comes to money and investing. (1:18)

· Answering the common questions people ask when being forced into an early retirement (4:47)

· What football teaches us about financial planning. (7:54)

· Mailbag questions from listeners. (11:21)

· Getting to know Michael (14:38)

LEARN MORE:

Recent educational videos on YouTube: https://bit.ly/3CMiRbt
Schedule a meeting with Michael: https://lwsde.com/schedule-a-meeting/
Visit Michael's website for more resources: https://lwsde.com/
Sign up for Newsletter: https://tinyurl.com/2p979jjz