Retirement Reality Podcast

Ep 113: Retirement Expenses For Which You Forgot To Plan

We’re willing to bet there are some retirement expenses that you may have forgotten to plan for. In today’s episode we will discuss some areas in your financial plan that you might have initially overlooked.
 
Here’s some of what we’ll discuss in this episode:
Are you prepared for medical expenses? (2:45)
Are you prepared for parental and child assistance? (5:58)
Are you prepared for home maintenance and repaid? (9:41)
 
For more episodes, visit us online here: http://principalpreservationservices.com

Ep 112: Top 10 Tax Questions For Retirees In 2023

Retirement can come with a lot of tax questions and concerns. From understanding the tax implications of withdrawing from your retirement accounts to minimizing taxes on investment income, it can be overwhelming. On today’s episode, we’ll break down the top 10 tax questions retirees are asking in 2023.
Here’s some of what we’ll discuss in this episode:
What are the tax implications of withdrawing money from my retirement accounts? (4:00)
Will my Social Security benefits be taxed? (6:42)
Does the taxation of my pension income differ from other forms of income? (7:45)
For more episodes, visit us online here: http://principalpreservationservices.com
 

Ep 111: Four Ways The SECURE Act 2.0 Might Impact You

After being discussed in Congress for nearly a year and a half, the SECURE Act 2.0 passed in January. On today’s show, we’ll explain what you need to know and learn four ways the new changes might impact you.
From Required Minimum Distributions (RMDs) to catch-up contributions, we’ll explain what you need to know about the SECURE Act 2.0.
Here’s some of what we’ll discuss in this episode:
The Required Minimum Distribution age has been pushed back again. (1:54)
What’s happening with the special catch-up contribution. (5:07)
Now the 529 Plan has a Roth transfer option (7:30)
If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.
To get in touch with Mike, visit us online:  http://principalpreservationservices.com

Ep 110: 5 Beneficiary Mistakes: Are You Accidentally Spoiling Your Retirement Plan?

On this episode, we’ll address five common beneficiary mistakes that, unfortunately, a lot of people make. From making errors to naming minors as beneficiaries, we’ll break down some common blunders. 
Are you making one of these beneficiary mistakes? If so, it could cost you and your loved ones dearly. Some of the simplest mistakes can completely spoil an otherwise well done retirement plan.
Here’s some of what we’ll discuss in this episode:
• Why you shouldn’t name minors as beneficiaries. (1:40)• Why you should name alternative beneficiaries. (5:16)• Why you shouldn’t name your estate as a beneficiary. (6:56)
If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.
To get in touch with Mike, visit us online:  http://principalpreservationservices.com

Ep 109: 10 Point Checklist For Retirement Preparedness

Another year is upon us and it’s a great time to ask yourself 10 questions to assess how ready you are for retirement to kick off 2023.
If you’re retiring this year, it’s essential to have some concrete answers to these questions. If you’re still a few years from the milestone, tune in so you can start thinking about these critical conversations.
 
Here’s some of what we’ll discuss in this episode:
Do I know exactly how much income I need every month? (1:55)
Do I know the ideal time to take social security? (5:30)
Do I have a plan to combat inflation? (10:30)
 
To get in touch with Mike, visit us online: http://principalpreservationservices.com

Ep 108: Listen To This If You Need Help Understanding Your Financial Statements

The end of the year (or start of a new year) probably means you’re getting a lot of financial statements in your mailbox, or inbox if you’re paperless. Do you ever wonder what some of those terms mean as you look at your 401(k), IRA and other account balances?
From fine print to fees, listen to this episode for a breakdown of some of the terms you might come across.
On this episode, we’ll share:
Are income projections valuable information? (2:19)
Are all fees listed on statements? (6:18)
What are some things in fine print that we shouldn’t ignore? (9:52)
For more episodes, visit us online here: http://principalpreservationservices.com
Get additional financial education on our YouTube channel: https://www.youtube.com/channel/UCJ6RRiWvkInUm_E3lg38T2g

Ep 107: The Financial Therapist - When It’s OK If A Visit To Your Advisor Feels Like Counseling

Sometimes it might seem like talking to your financial advisor feels like talking to a therapist, and that’s ok. Today we’re discussing some scenarios where it’s almost inevitable that a talk with your advisor seems like a counseling session.
Whether you’re getting a divorce or having career difficulties, your financial advisor should be there to help guide you through the financial transition.
On this episode, we’ll share:
How we help clients going through a divorce. (2:22)
How we handle clients’ career difficulties. (5:27)
How we help clients who don’t like talking about money. (8:00)
For more episodes, visit us online here: http://principalpreservationservices.com
Get additional financial education on our YouTube channel: https://www.youtube.com/channel/UCJ6RRiWvkInUm_E3lg38T2g

Ep 106: Is There Greener Grass On The Other Side?

Sometimes you need to find a new financial advisor. Other times, you might think you need a new advisor, but really, you’re just guilty of thinking that the grass is greener on the other side.
 
Today we’re sharing some common scenarios and whether they’re legitimate reasons for leaving your advisor. We’ll share some hypothetical scenarios and see if any of these apply to you.
 
On this episode, we’ll share:
 
Should I leave an advisor who made a mistake? (3:24)
Should I leave an advisor who doesn’t have as much time for me? (5:17)
Should I leave an advisor who is not very engaging and outgoing? (8:00)
For more episodes, visit us online here: http://principalpreservationservices.com
Get additional financial education on our YouTube channel: https://www.youtube.com/channel/UCJ6RRiWvkInUm_E3lg38T2g

Ep 105: The Retirement Marathon - Finishing The Race

Getting through retirement can be a lot like running a marathon. From planning and preparation to a proper diet, a lot of these skills work in both worlds. With marathons, you don’t want to start to fast and tire yourself out before the finish. The same can be said for spending your retirement money.
Today we’ll share some of the similarities of getting to the finish line in racing and retirement.
 
On this episode, we’ll share:
You might think you don’t need planning and preparation, but you’re wrong. (4:12)
Your diet is essential for running and retirement planning. (6:27)
Don’t start a race or your retirement too fast. (11:53)
For more episodes, visit us online here: http://principalpreservationservices.com
Get additional financial education on our YouTube channel: https://www.youtube.com/channel/UCJ6RRiWvkInUm_E3lg38T2g

Ep 104: 5 Common Questions People Ask When Forced Into Retirement

Today we're sharing five common questions people ask when they’re forced into retirement. Hopefully, you won’t be in this position, but more and more people are these days.
If this scenario does come your way, it’s best to be prepared. We’ll also be answering some mailbag questions today from our listeners. If you don’t have an advisor or want a second opinion, we’d be happy to help.
Here is some of what you’ll learn on this show:
Should you accept a buyout offer to retire early? (2:14)
Should you get a lump sum or monthly lifetime payout? (4:35)
Will you have trouble getting rehired in retirement? (10:31)
For more episodes, visit us online here: http://principalpreservationservices.com
Get additional financial education on our YouTube channel: https://www.youtube.com/channel/UCJ6RRiWvkInUm_E3lg38T2g