Let’s be real, the last thing any of us want to do after retirement, is end up working as a greeter at Walmart when we’re 85, right? If you want to get out and have something to do, that’s great, but usually, that’s not where we may see ourselves down the road.
You’ve worked your whole life-saving in your 401k, getting your match, maxing out your contributions, and now, when it’s time to ride off into the sunset, all they hand you is your saddle and a check. A check is excellent. No one will look that gift horse in the mouth, and heck, this is YOUR money, but now what? You’re just supposed to put that in the bank and hope that you can make that last for the rest of your life? It’s a scary thing to think about and can be daunting. The good news? It can be done. Now, there are many things to consider, and it’s a humbling process, but it also reminds you how to think and plan realistically for the rest of your life.
In today’s episode, we’re going to teach you how to do it. We will go step by step, so you know where to start and how to set yourself up for true retirement success.
- Understanding your income streams, what do you actually have to work with?
- How much can you safely withdraw?
- What are the risks that people face when determining how much they can withdraw?
- How much do you need to live on? Um, that’s a biggie!
We want to help you feel confident and secure moving into your next phase of life in retirement. So, we’ll even dive into budget, diversification, how to not let emotions get involved, how to not let your KIDS take over your retirement nest egg, and how to maintain the right investment mix for what you need and want to accomplish. So, grab our Know Your Possibilities Guide, start listening to today’s episode and get ready to thrive in your golden years.
P.S. Looking to meet with Richard or Angela? Want to discuss more of what you heard in this episode? Wondering where the heck you need to get started or what all of this means for your retirement plans? Scheduled free 30-minute session and find the peace of mind you deserve for the rest of your life.
“Protecting yourself is, is number one, because it's like when you're in an airplane, put your mask on first and then do your baby’s mask. That's a great analogy. It's put your mask on, keep your draw rate low, then do everything else you can to help your children."
Did you mention “Guide” above? Why yes, yes we did. We’re proud to present you with our “Know Your Possibilities Guide,” a tool and free resource for you to take notes, review, keep on hand, or even share with your friends and family. So grab your copy, click the play button and follow along. You’re just minutes away from discovering your next Place of Possibility.
A Glance at this Episode:
5:23 – Believe it or not, it is possible to make a lump sum last. Listen in to discover where to get started.
6:29 – The next big question for many people is, “How much can I safely withdraw from my portfolio?” Let’s discuss.
14:19 – What are some of the risks when it comes to withdrawing from your portfolio?
19:56 – No more than X% of your portfolio should be in any one position – yes, diversification is our friend. You’ll have to listen in for our recommended number.
24:01 – Are you one of the people that fear the stock market with hit zero and you’ll lose all your hard-earned money? Stop worrying. Here’s why…
33:47 – How much should you really live on? Hit play here.
40:50 – One more significant thing to consider… end of life care. Sorry, but it’s a reality!
41:57 – Case study time. Real-life client stories that delve into the good, aka what you should be doing, and the bad. Don’t do this. You’ll ruin your retirement!
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Links/Resources Mentioned in this Episode:
Every client that walks through our door is family. Your goals are our goals, and that’s why we work hard to provide a true Place of Possibility™, so we can help you meet and exceed them. Our wealth management services work to navigate life transitions and take advantage of unique planning opportunities that leave you feeling calm and confident. We offer solutions based on you and your needs, not strategies that make us a quick buck. No matter how life unfolds, we’ll help you connect the dots and always have your back. The door to our Alamo, CA-based headquarters is always open. How can we assist you? Call us at 925.736.6410, send an email to Info@APlaceOfPossibility.com or jump right into our calendar and select a date and time that works for you and let’s talk.