Retirement Reality Podcast

Take the Fork: Yogi Berra's Wisdom on Making Financial Choices

In this episode, we’re diving into some famous words by the one and only Yogi Berra. You might know him for his legendary baseball career, but Yogi was also a goldmine of wisdom. So, what can we learn from Yogi about retirement planning?
 
Here are some of the quotes we’ll unpack in this episode:
“I never said most of the things I said.”
“A nickel ain’t worth a dime anymore.”
“If you don’t know where you’re going, you might wind up some place else.”
“The future ain’t what it used to be.”
"You can observe a lot by watching."
"It ain't over till it's over."
 
To get in touch with Mike, visit our website: http://principalpreservationservices.com

Retiree Insurance: The Basics You Must Know

What types of coverage should you be considering for your golden years? What do you need to keep in mind as you prep for the transition? We’re going to walk you through the fundamentals in today's episode, covering health insurance, long-term care insurance, life insurance, and more.
 
Here’s some of the mistakes we discuss in this episode:
Why your health insurance coverage might change and how can you bridge the gap to Medicare?
The different parts of Medicare and what it does/doesn’t cover.
Why you would want to consider long-term care insurance?
What are the alternatives to LTC insurance?
 
To get in touch with Mike, visit our website: http://principalpreservationservices.com

Mistakes When Choosing A Financial Advisor

In this episode, we’ll uncover the critical mistakes many make when choosing a financial advisor. We're cutting through the noise to highlight what often goes wrong- from misplaced trust in big names to overlooking the fine print. This episode is your essential guide to avoiding those pitfalls and making informed decisions that align with your financial goals.
 
Here’s some of the mistakes we discuss in this episode:
Not understanding how the advisor gets paid
Putting too much trust in a recognizable national brand name
Not checking credentials or the advisor’s background
Not covering expectations for communication style & frequency
 
To get in touch with Mike, visit our website: http://principalpreservationservices.com

Expectation vs. Reality: The Truth About Retirement Planning

When we think of retirement, we often imagine endless days of relaxation, travel, and leisure. But how much of this is a dream versus reality? Today, we'll explore why a realistic approach to retirement, inclusive of financial planning and the potential for unexpected challenges, is crucial.
 
Here’s some of what we discuss in this episode:
Understanding what retirement will realistically look like for you and planning accordingly
Accounting for changing expenses, from health insurance to cell phone bills
Being ready to adjust your plan in response to market volatility, health changes, and inflation
Not being too proud to get help when it comes to your finances
 
To get in touch with Mike, visit our website: http://principalpreservationservices.com
 

Retirement Questions That Younger Generations are Asking

Each generation is currently navigating a unique part of the retirement planning experience. With many baby boomers preparing for the transition into retirement and the early half of Generation Z taking their initial steps into the career field, these major life events come with a handful of financial planning questions.
In this episode, we're covering the retirement questions that Gen X, Millennials, and Gen Z are asking.
 
Here’s some of what we discuss in this episode:
How do you know how much you need to have saved and how to you tell if you’re on track?
How to balance savings goals with other expenses like a mortgage, children’s education, and other things.
Should I rely on Social Security and how do you account for potential changes?
What can I do if I want to retire early?
 
To get in touch with Mike, visit our website: http://principalpreservationservices.com
 

Retirement Questions Every Generation Is Asking (Baby Boomers)

Each generation is currently navigating a unique part of the retirement planning experience. With many baby boomers preparing for the transition into retirement and the early half of Generation Z taking their initial steps into the career field, these major life events come with a handful of financial planning questions. Over the next few weeks, we’ll share insights into the unique concerns that echo across different age groups.
We're starting this series with the baby boomer generation, as a majority of Mike's clients belong to this demographic.
 
Here’s some of what we discuss in this episode:
How do I manage the risks of market volatility as I approach retirement?
What's the best approach for transitioning from a steady income to retirement withdrawals?
What steps can I take to address rising healthcare costs in my retirement plan?
What's the best way to pass on wealth without sacrificing my own retirement?
What are the best ways to maximize my Social Security benefits for a more secure retirement?
Should I consider downsizing or relocating in retirement?
Listener question: As a pastor, I have the opportunity to opt out of Social Security. Is this something I should consider?
 
To get in touch with Mike, visit our website: http://principalpreservationservices.com

How Is Technology Redefining Retirement Planning?

Today we will unpack the toolbox of technology that's promising to redefine retirement planning, but does it deliver? This episode takes a critical look at the wave of innovations, from personal finance management software to online calculators, and questions whether they truly simplify the planning process or introduce new complexities.
 
Here’s some of what we discuss in this episode:
The rise of robo-advisors and the ways they aren’t able to keep up with comprehensive planning.
Online calculators work for some things but can’t take into account all the factors we can in a projection.
Webinars are more common and much easier to be a part of, but Mike explains why he still prefers in-person events.
Social media has its positives but it also exposes you to people that might seem like they’re much more successful than they truly are.
Digital estate planning services can provide some the basics for people but they don’t handle complexity as well as working with an attorney does.
 
To get in touch with Mike, visit our website: http://principalpreservationservices.com

How One Overlooked Issue Can Sink Your Retirement

In today’s episode, we spotlight some of the single oversights that could send your dreams to the bottom. We'll share key strategies to plug the gaps, ensuring your financial ship stays buoyant and on course. Tune in to protect your future from the one mistake that could derail everything.
 
Here’s some of what we discuss in this episode:
The importance of having a robust financial strategy that ensures a steady income throughout retirement.
Investment strategies to keep pace with, or beat, inflation.
You have to consider long-term care costs in retirement planning.
Strategies to mitigate this risk, such as diversification and proper asset allocation.
 
To get in touch with Mike, visit our website: http://principalpreservationservices.com

Retirement Planning Is Different For Women: Here’s Why

In this episode, we’ll share some eye-opening statistics and actionable advice to empower women in their financial journey. From the persistent gender pay gap to the impact of caregiving responsibilities and higher debt burdens, this is why retirement planning is different for women.
 
Here’s some of what we discuss in this episode:
Even though they make up almost half of the workforce, women receive lower compensation than men across almost every occupation.
Women are more likely to face career interruptions.
Longer life expectancy and divorce can create additional challenges for women when they’re suddenly on their own.
Only 53% of women feel confident enough to retire.
 
To get in touch with Mike, visit our website: http://principalpreservationservices.com

With Higher Interest Rates, Is “Lazy Money” Still A Concern In 2024?

Is 'Lazy Money' still a concern in 2024's higher interest rate landscape? In this episode, we explore this question, examining how the recent rise in interest rates affects the money sitting in savings accounts, CDs, and conservative investments.
 
Here’s some of what we discuss in this episode:
What do we mean by lazy money?
Why we should still be concerned about having too much lazy money.
The dangers to your retirement if you’re too conservative.
How we help people shift their mindset and look at other investment options.
 
To get in touch with Mike, visit our website: http://principalpreservationservices.com