If you want to retire and are looking for guidance don't just find someone smart. There are plenty of smart advisors with plenty of smart ideas. It's been my experience that smart by itself, isn't enough. If you want to retire successfully, it's...
Show Notes
If you want to retire and are looking for guidance don't just find someone smart. There are plenty of smart advisors with plenty of smart ideas. It's been my experience that smart by itself, isn't enough. If you want to retire successfully, it's better to seek out wisdom.
"It ain't what you don't know that gets you into trouble. It's what you know that just ain't so."
In this episode, I discuss some of the value a wise advisor can bring to your financial life. Including:
- Finding blindspots in your retirement plan
- Bring perspective learned from walking the journey with others on the same path
- Creative solutions to your unique life
- Manage emotions that can derail the best laid plan to retire
- Diligence to help you address the right issues,
- Consistent communication to assure the right conversations happen in the right frequency so you can make adjustments as your life unfolds
Listener Question
One question I had is if the Monte Carlo model factors in the different investment bucket assumptions. My assumption is it assumes the regular draw out amounts occurs evenly between the buckets in good times and bad. If this is the case then not drawing on the equity bucket during bad time will help to increase the likelihood of not running out of money in retirement. Please clarify. Thanks, Monte
Great observation Monte. How you manage drawing from your assets during retirement is critical. Do it wrong and you could seriously handicap your chances of maintaining your lifestyle. In this episode, I answer your question directly.
How to manage drawing from your assets during retirement is one of the most common questions I get. To help you understand, it will be the focus of my next webinar.
How to Manage Cash Flow in Retirement Webinar
During the webinar I'll show you how to:
- Draw from your assets for income
- Set up and manage your cash flow reserve buckets
- Manage cash flow during down markets
- evaluate the best strategy for you
When: Tuesday, May 26th
What is Retirement Answer Man?
A top retirement podcast. Roger Whitney, CFP®, CIMA®, CPWA®, RMA, guides you on how to actually do retirement well financially and personally. This retirement podcast isn't afraid to talk about the softer side of retirement. It will teach you how to retire with confidence. Two-time PLUTUS winner for best retirement podcast / blog and the 2019 winner for best financial planner blog. This retirement podcast covers how to create a paycheck, medicare, healthcare, Social Security, tax management in retirement as well as retirement travel and other non-financial issues you'll need to address to rock retirement. Retirement isn’t an age OR a financial number. It’s finding that balance between living well today and feeling confident about your retirement. It’s about gaining more freedom to pursue the life you want. Join the rock retirement community at www.rogerwhitney.com