Retirement Reality Podcast

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

Ep 103: Warning Signs - How To Spot Problems In Your Financial Life

Just like the lights on your dashboard can indicate if something is wrong with your car, such as low tire pressure or leaking oil, there are indicators in your financial life that might point out that you have a problem that needs to be addressed.
If any of these raise a red flag for you, it might be time to sit down with your advisor. 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:
What to do if you have no idea what it costs to fund your lifestyle. (2:22)
It’s good to have goals, but net worth or account balance shouldn’t be the main goal. (4:24)
Your mental image of retirement shouldn’t be based on what your parents had. (6:15)
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 102: How Money Ads Catch Your Attention

We’re bombarded with ads each day in all forms of media. But have you ever taken a closer look at these messages?
If we unpack some of these headlines and ads a little bit more, we’re able to clearly understand what emotions they’re trying to elicit. More importantly, we can figure out what companies are trying to sell us.
Here is some of what you’ll learn on this show:
What is meant by ‘invest like the 1%’?  (1:49)
Tactics used to try and sell you something to help you invest more successfully. (3:19)
How advertisers tap into the emotion of the stock market. (6:42)
Some messaging Mike has seen a lot of and why it caught his attention. (10:21)
Should you take Social Security early to help pay off your house? (14:36)
For more, visit us online: http://principalpreservationservices.com

Ep 101: Retirement Planning From A Psychologist’s Point Of View

We always talk about the money side of financial and retirement planning. But what about the mental aspect of that big life change?
Today we’ll break down an article written by a Licensed Professional Counselor (Kate Schroeder) for Psychology Today, titled The Psychological Investment In Retirement.
 
Read the article here: https://www.psychologytoday.com/us/blog/next-change-is-inevitable-growth-is-optional/202208/the-psychological-investment-in-retirement 
 
Here is some of what you’ll learn on this show:
Are you mentally prepared to walk away from a life and routine you’ve been used to? (2:24)
What’s the number one thing retirees struggle with in retirement? (4:13)
Why many retirees view this free time as a more stressful period of life. (7:03)
The earlier you start in this area of retirement prep, the better you’ll do. (10:00)
It’s common to struggle with this transition. (13:33)
Is now a time to be converting IRA money to a Roth? (17:34)
For more, visit us online: http://principalpreservationservices.com

Ep 100: How Procrastination Dooms Your Financial Future

People have many reasons for procrastinating when it comes to putting a retirement plan together. Let’s explore some of those excuses and why they can be dangerous, and talk about how to overcome them…
Here is some of what you’ll learn on this show:
Why you should still plan for retirement, even if your parents didn’t. (1:23)
How to sort through which financial advisors to listen to. (3:00)
Why stress shouldn't keep you from financial planning. (4:28)
Do you feel too busy to plan for retirement? (5:44)
When you don't know how to get started on your financial plan, this is what you should do. (7:46)
Visit us online: http://principalpreservationservices.com 

Ep 99: Should You Follow These Popular Retirement Rules of Thumb?

You’ve most likely heard plenty of “rules” you’re supposed to follow to retire successfully. Some of these rules are stated so confidently, you’d be crazy not to immediately accept them as fact.
But we don’t mind the threat of being called crazy, so let’s dive into some of the most popular retirement “rules of thumb” to see if they truly lead us down the path of good financial guidance or run a chance of leading us astray.
Here is some of what you’ll learn on this show:
Can you rely on the rule of 100 to help you determine how much risk to have? (1:37)
Can you plan for 75% of your current income to have a successful retirement? (3:05)
Why going off the rule of 10 for savings isn’t an exact measurement for where you should be at 67. (7:03)
Does the 4% rule for year withdrawals still hold true today for retirees? (8:43)
 
Visit us online: http://principalpreservationservices.com