This month, we're revisiting the eight pillars of rocking retirement. Today, we focus on the second two financial pillars: having a resilient plan of record and optimizing the plan to enhance the journey. Many people are good at setting goals and determining feasibility, but often overlook the importance of resilience in their retirement plan. We delve into how to stress test your plan for various risks like bear markets, health care shocks, and premature death, and how to build redundancies to make your plan more robust. We also discuss optimizing your plan with tax strategies, investment implementation, and legacy planning.
PRACTICAL PLANNING SEGMENT
-[
00:35] - Introduction to the eight pillars of rocking retirement
- [
04:55] Building a Resilient Retirement Plan
- [
10:30] Building a funding strategy for the first five years of retirement
- [
14:38] The fourth pillar: Optimization
LISTENER QUESTIONS
- [
18:55] Mark asks about estimating Social Security benefits
- [
20:32] Mary inquires about investing in Real Estate Investment Trusts versus private crowdfunding platforms
- [
27:20] John seeks advice on choosing a retirement planner
- [
31:58] Tammy's question on whether to sell a high-value home for liquidity
BRING IT ON SEGMENT
- [
36:37] Building relationships and the importance of micro roles
SMART SPRINT SEGMENT
- [
42:50] Assess the resilience of your retirement plan
Resources Mentioned In This Episode
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