Retirement Reality Podcast

Common Retirement Complaints

In this episode, we’re tackling some common complaints and fears that can arise during the retirement planning process. These complaints often include concerns about advisors taking too much risk, dissatisfaction with account growth, high fees, worries about Social Security not being enough to retire on, and more. We'll discuss which concerns are well-founded, which are based on misconceptions, and offer insight on how retirees can best navigate their financial future.
 
Here are some key takeaways from this episode:
Advisors should align investment risk with clients' preferences and needs. Clients should not feel forced into taking on more risk than they are comfortable with.
Clients should be aware of the fees they are paying and how they impact their investments. Fee transparency is essential, and clients should consider both the cost of services and the value they receive.
Social Security is an important income source for retirees, and it's essential to understand when and how to claim benefits. Advisors should be well-informed about Social Security changes and provide guidance on the optimal time to claim benefits.
Retirement portfolios may not always experience high growth every year. Understanding market fluctuations and having a well-structured financial plan that accounts for potential down years is important.
Some clients feel they only hear from their advisors when it's time to buy or sell stocks. Comprehensive financial planning should include regular communication, addressing all aspects of retirement planning beyond just investment transactions.
 
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Till Debt Do Us Part: Resolving Financial Sources of Tension Between Couples (Part 1)

Money can't buy love, but it can certainly start some spicy debates between you and your better half. In part 1 of this series, we're digging into the financial face-offs that make Monopoly fights look like child's play and exploring some money minefields that can test even the most solid relationships.
 
Here’s some of what we’ll discuss in this episode:
What is your risk tolerance with your investments? (3:41)
What age do you want to retire? (6:07)
What legacy do you want to leave your children? (9:25)
 
For more episodes and to get in touch with our team, visit us online here: http://principalpreservationservices.com

Mastering Retirement Cash Flow: Understanding Changing Expenses (Part 2)

Welcome to part 2 of our series on mastering retirement cash flow. Last episode, we talked about expenses in your life that might drastically change in retirement. On today’s show, we’ll talk about income and why you need to understand the crucial role of income analysis. We’ll also explain why you never want to retire without an income plan and what various income sources you might have in retirement. 
 
Here’s some of what we’ll discuss in this episode:
Why is understanding income so crucial? (2:35)
What could go wrong if you don’t understand your income and budget? (4:10)
What income sources could you have? (5:58)
 
For more episodes, visit us online here: http://principalpreservationservices.com

Mastering Retirement Cash Flow: Understanding Changing Expenses (Part 1)

In this episode, we’ll explore many of the expenses in your life that might drastically change (one way or another) in retirement. We’ll break those expenses down further to see which ones are the top priorities and analyze some of the other factors that impact your cash flow in retirement.
 
Here’s some of what we’ll discuss in this episode:
What is your housing situation? Is your mortgage paid off? (2:13)
Can you move down a tax bracket in retirement? (7:23)
How much will you be traveling in retirement? (10:31)
 
For more episodes, visit us online here: http://principalpreservationservices.com

How to Clean Up Your Portfolio

Get ready to roll up your sleeves and dive into the gritty side of personal finance. In this episode, we reveal how everyday household tasks can serve as reminders of the principles that lead to financial success. From taking out the trash in your investment portfolio to cleaning out the fridge of outdated financial strategies, we'll explore how to declutter your financial life.
 
Here’s some of what we’ll discuss in this episode:
Take out the financial trash. (2:11)
Clean up your financial fridge. (4:11)
Do periodic financial maintenance. (8:13)
 
For more episodes, visit us online here: http://principalpreservationservices.com

Ep 118: The 12 Biggest Money Mistakes In Retirement Planning (Part 2)

It’s time for part two of our series on the biggest money mistakes you might be making in retirement planning. In part one, we shared the pitfalls of taking Social Security benefits too early, taking investment advice from family or friends instead of a financial professional, and other mistakes. Today we’ll highlight six more missteps.
 
Here’s some of what we’ll discuss in this episode:
Have you adjusted your retirement budget for inflation? (1:41)
Have you done your estate planning? (3:40)
Have you paid off high-interest debts? (7:36)
 
For more episodes, visit us online here: http://principalpreservationservices.com
 

Ep 117: The 12 Biggest Money Mistakes In Retirement Planning (Part 1)

In the complex world of retirement planning, there are countless pitfalls one could fall into. One misstep could lead to some serious financial consequences down the road. In part one of this two-part episode, we’re going to talk about 6 of the biggest money mistakes to avoid in retirement.
 
Here’s some of what we’ll discuss in this episode:
Taking Social Security too early. (2:53)
Being too aggressive or too conservative. (5:41)
Taking investing advice from friends and family. (8:15)
For more episodes, visit us online here: http://principalpreservationservices.com
 

Ep 116: Mailbag: Credit Card Debt, Savings Value & More

It’s time for another mailbag episode! We have an exciting lineup of topics to discuss today. Listen in as we tackle some current questions from our listeners, and you’ll likely gain some invaluable insights to help you make informed financial decisions.
 
Here’s some of what we’ll discuss in this episode:
How can my investment strategy impact my returns? (1:08)
How can I protect my savings from losing value? (4:05)
How can I tackle this credit card debt? (8:51)
 
For more episodes, visit us online here: http://principalpreservationservices.com

Ep 115: A Comprehensive Dismantling Of 2023’s Top Social Security Myths

Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you're eligible is the best decision for your financial future? In this episode, we're going to debunk the top ten Social Security myths and answer your questions surrounding this topic.
 
Here’s some of what we’ll discuss in this episode:
Myth: The Social Security Administration will help you make the best decision about when you should start your benefit. (2:06)
Myth: You won’t pay taxes on your Social Security since you already paid taxes on that money when you paid into the system. (5:09)
Myth: You should claim Social Security as soon as you’re eligible. (9:03)
For more episodes, visit us online here: http://principalpreservationservices.com

Ep 114: Fore Your Retirement - What Golf Teaches Us About Financial Planning

Are you a golfer? Even if you're not, the game of golf can teach us valuable lessons about retirement planning. For example, hitting a hole-in-one might be thrilling, but it won't necessarily guarantee your overall success.
In retirement planning, a financial advisor can help you navigate the hazards and make the most of your financial "clubs." Tune in to this episode to learn more about how the game of golf can help you plan for a successful retirement.
 
Here’s some of what we’ll discuss in this episode:
Why a hole-in-one is not the goal. (2:18)
You need several different golf clubs in your bag. (5:43)
Listen to your caddy. (9:37)
 
For more episodes, visit us online here: http://principalpreservationservices.com