Retirement Reality Podcast

The majority of the investment planning you do for retirement is aimed at long-term success, but what can you do with the money you’ll need in the next few years? You don’t want to put those funds at risk when there’s a major purchase like a wedding or a new car coming in the near future.
So what can you do with that money to keep it from being stagnant in the interim? This show will discuss the pros and cons of traditional banking, money markets, fixed annuities, and structured notes.
Here’s what we discuss in this episode:
0:00 - Intro
1:10 – Putting money in the market for a short-term investment
3:06 – Are small returns good enough?
4:53 – Annuities and structured notes
6:29 – The decision-making process
7:49 – Another note on structured notes
Text RETIRE to 21000 to Begin Building Your Retirement Reality Roadmap.
Learn more about Principal Preservation Services: https://principalpreservationservices.com
Schedule an Initial Meeting with Mike: https://calendly.com/ppservices/60-minute-initial-meeting
Watch Retirement Reality on Demand: https://bit.ly/40VIByr

It’s the beginning of a new year – a time when many of us make resolutions to improve our lives. But how often do we resolve to improve the way we feel about our finances? Today, we’re talking about spending with confidence, a surprising challenge for many retirees.
Here’s what we discuss in this episode:
0:00 - Intro
1:19 – Why the reservations?
4:20 – Easing spending fears
5:59 – Overconfidence
8:00 – Spending strategies
 
Text RETIRE to 21000 to Begin Building Your Retirement Reality Roadmap.
 
Learn more about Principal Preservation Services: https://principalpreservationservices.com
 
Schedule an Initial Meeting with Mike: https://calendly.com/ppservices/60-minute-initial-meeting
 
Watch Retirement Reality on Demand: https://bit.ly/40VIByr

Join us as we explore the evolving benchmarks for retirement savings, the importance of proper planning over mere goal-setting, and the role of charitable contributions in financial strategies. We’ll break it all down and explore what these new numbers mean for your financial future.
Here’s what we discuss in this episode:
0:00 - Intro
1:28 – Is there a universal retirement benchmark?
2:41 – Charitable giving
4:23 – The fear of never being able to retire
5:30 – Average 401k contribution
7:11 – Target date funds
8:44 – Roth 401ks
10:24 – Taking care of yourself in the present
 
Text RETIRE to 21000 to Begin Building Your Retirement Reality Roadmap.
Learn more about Principal Preservation Services: https://principalpreservationservices.com
Schedule an Initial Meeting with Mike: https://calendly.com/ppservices/60-minute-initial-meeting
Watch Retirement Reality on Demand: https://bit.ly/40VIByr

🎄 The holiday season is here! As you're busy stuffing stockings for your loved ones, don’t forget to stuff your own financial stocking with tips that bring you closer to a secure retirement. 🎁
 
Here’s what we discuss in this episode:
0:00 - Intro
1:03 – Maxing out contributions
2:04 – Reviewing your Social Security strategy
3:55 – Consolidating old retirement accounts
5:28 – Bucket strategy
7:07 – Revisit your estate plan
8:40 – Planning for inflation
10:05 – RMDs
11:11 – Risk tolerance
12:54 – Emergency funds
14:39 – Financial checkups
 
Text RETIRE to 21000 to Begin Building Your Retirement Reality Roadmap.
Learn more about Principal Preservation Services: https://principalpreservationservices.com
Schedule an Initial Meeting with Mike: https://calendly.com/ppservices/60-minute-initial-meeting
Watch Retirement Reality on Demand: https://bit.ly/40VIByr

Did ​you ​know ​that ​most ​Americans ​are ​forced ​to ​retire ​early? ​A ​little ​bit ​more ​than ​you ​might ​actually ​realize. The Transamerica Center for Retirement Studies found that 60% of Americans are forced to retire earlier than their planned age.​ On this show, ​we're ​going ​to ​talk ​about ​some ​things ​to ​think ​about and the next steps to consider if you find yourself in this situation.  
Here’s some of what we discuss in this episode:
0:00 – Intro
1:33 – How we guide clients in that situation
3:18 – Why people retire earlier than planned
4:28 – Social Security and Medicare
7:11 – Preparing for the unexpected
13:19 – The mindset shift
 
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

Retirees face serious financial temptations that can jeopardize their future, but there are smart ways to avoid them. In this episode, we’ll reveal the most dangerous temptations the average retiree faces and share strategies to help you avoid them, or correct your current course, to keep retirement on track.
Here’s what we discuss in this episode:
0:00 - Intro
1:00 – Debt
3:45 – Missing out on a 401k match
5:09 – Deferring taxes
8:23 – Taking Social Security early
10:28 – Concluding thoughts
Text RETIRE to 21000 to Begin Building Your Retirement Reality Roadmap.
 
Learn more about Principal Preservation Services: https://principalpreservationservices.com
 
Schedule an Initial Meeting with Mike: https://calendly.com/ppservices/60-minute-initial-meeting
 
Watch Retirement Reality on Demand: https://bit.ly/40VIByr

Today it’s part two of our discussion about  the crucial insights every investor should know before stepping into a financial advisor's office.
This week, learn about the importance of comprehensive planning beyond investments, the emotional side of financial decisions, and the value of diversification. Discover why financial planning isn't just for the wealthy and the significance of working with a fiduciary. Plus, get insights on maintaining regular reviews of your financial plan and why consistent contributions to your 401k matter more than market timing.
Here’s what we discuss in this episode:
0:00 – Intro
1:42 – Emotions
3:18 – Diversification
4:33 – Planning not just for the wealthy
6:35 – Reviewing regularly
8:06 – Fiduciary
10:25 – Question on retirement contributions
 
Learn more about Principal Preservation Services: https://principalpreservationservices.com
Schedule an Initial Meeting with Mike: https://calendly.com/ppservices/60-minute-initial-meeting
Watch Retirement Reality on Demand: https://bit.ly/40VIByr

Imagine you could read your financial advisor’s mind before you even walked through the door for the first time. What would they want you to know? In this episode, we bring you the game-changing insights financial pros wish every saver and investor understood.
Here’s what we discuss in this episode:
0:00 – Intro
2:02 – Investment costs
3:40 – Real risk
5:40 – Motivation behind information
8:06 – Setting realistic goals
10:27 – Long term over short term
11:35 – One-size-fits-all planning
 
Text RETIRE to 21000 to Begin Building Your Retirement Reality Roadmap.
Learn more about Principal Preservation Services: https://principalpreservationservices.com
Schedule an Initial Meeting with Mike: https://calendly.com/ppservices/60-minute-initial-meeting
Watch Retirement Reality on Demand: https://bit.ly/40VIByr

As we rapidly approach 2025, it's essential to stay informed about the latest changes in retirement contribution limits and tax brackets. In this episode, Mike will update you on what adjustments are being made to key pension and retirement plan limits, providing listeners with the knowledge needed to maximize their retirement savings.
Here’s some of what we discuss in this episode:
0:00 – Intro
1:13 – 401k contributions
2:47 – IRA limits
3:27 – Standard tax deductions
4:17 – Tax bracket income thresholds
5:14 – Social Security COLA increase
6:37 – Impact on planning
 
Text RETIRE to 21000 to Begin Building Your Retirement Reality Roadmap.
 
Learn more about Principal Preservation Services: https://principalpreservationservices.com
 
Schedule an Initial Meeting with Mike: https://calendly.com/ppservices/60-minute-initial-meeting
 
Watch Retirement Reality on Demand: https://bit.ly/40VIByr

Social Security has long been a cornerstone of retirement planning for millions of Americans, providing a crucial safety net in their golden years. However, recent proposals suggest significant changes could be on the horizon, potentially altering the landscape of retirement as we know it.
Here’s some of what we discuss in this episode:
Brendan Boyle’s request for information from the Congressional Budget Office regarding raising the age for full Social Security benefits.
The increased penalty that could come if you claim Social Security benefits early.
Why is Congress considering making changes to Social Security?
Strategies to consider to maximize Social Security benefits.
To get in touch with Mike, visit our website: http://principalpreservationservices.com