 Understand your monthly spending and /or monthly budget Have a proper handle on your monthly income sources Don’t forget about medical or health care cost Decide whether you are going to enlist the help of a financial professional Develop a written financial plan 

Planning For Life

Episode 29: Planning on retiring with the next few years? Consider this checklist!

 Method #1- Systematic Withdrawal- Also know as the 4% withdrawal rule or “Goal-based” Method #2- Time-segmentation or “bucketing” Method #3- Income Flooring Method #4- Guaranteed Cash Flow planning  

Episode 28: Four Methods to Help create an Income Stream in Retirement

Why can retirement be so stressful? 1. Focus on the big picture, not just potential returns 2. Consolidate your accounts 3. Broad diversification 4. Automate your income 5. Strip your investment strategy down 6. Go green-paperless 7. Can a “bucket plan” help you?

Episode 27: Help Simplify Your Retirement Plan

 How much money do I need to retire? What is an RMD? How do taxes work with my social security and/or pension plan? How much could healthcare cost in retirement? When can I withdraw money from my retirement accounts? 

Episode 26: 5 Frequently Asked Retirement Questions

 Stock market downturn at the wrong time Not enough diversification Fear of uncertainty Not enough monthly income 

Episode 25: Why you may not retire on time. Four things to consider.

 What is an annuity? Immediate vs Deferred- the difference Does the beneficiary inherit your payment or your cash value? Do you have to annuitize your annuity to turn it into a income stream? Is there any insurance on the annuity or payment? How do the fees work? How do annuities earn interest? How does the insurance agent or financial advisor get paid for the annuity? Bonus! Do insurance agents or financial advisor have multiple options for annuities they can use?

Episode 24: 8 facts about annuities every retiree should know

 Inflation Risk Longevity Risk Long-term illness/Chronic Illness Risk Rising health care cost Emotional/irrational investor behavior Losing money “safely” Sequence of return risk 

Episode 23: 7 Retirement Risks

 Investing too conservatively Best way to approach the lump sum vs. pension decision Focusing on your assets instead of your retirement income Choosing the right Medicare plan 

Episode 22: 4 money mistakes in retirement

 How long do you plan to work? What are some pros and cons? How long will your retirement last? Identifying income sources, tracking your expense, planning for inflation and managing risk! How will you generate income in retirement? Guaranteed income, Non-guaranteed income and Combination income! What is the ultimate purpose of your assets? 

Episode 21: Four choices every retiree has to make!

 What is a “financial milestone?” Age 55, age 59.5, Age 62, age 65, age 66-67, age 70 and age 72 What about Medicare and all it’s moving parts? Other financial milestones that change your life (College planning, marriage and divorce) 

Episode 20: Life-changing financial events-and what you should know about them!

 Accumulation Phase Preservation Phase Distribution Phase 

Episode 19: The Three Phases of Your Financial Life

Let’s define what “rule of thumb” really means Save 10% of your income rule Using your age to determine your risk/non risk allocations. “rule of 100” You will need 70-80% of working income in retirement 4% rule You need $1,000,000 at least to retire 

Episode 18: Financial Planning “Rules of Thumb”- Are they worth using?

1. Sequence of Return Risk and Stock Market Timing 2. Rising Cost of Health Care and Long Term Care 3. Outliving your nest egg 4. Inflation

Episode 17: The biggest retirement challenges

Let’s define what happiness means Key steps: Define what you want out of your retirement Set your target date Develop an income plan Get a part time “fun” job Don’t get complacent 

Episode 16: How to live a happy retirement!

 Time to “tighten-up” that budget Explore some consolidation efforts Payoff or reduce your debts Hire a financial planner Reduce your investment risk 

Episode 15: The 5 years before you retire!

Co-Founder of Guardian Investment & Accounting, Garry Thurman and Insurance and Retirement Advisor, Tyde Mcintosh give advice to those preparing for retirement.

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Planning For Life

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