Retirement Reality Podcast
Weekly financial and retirement planning guidance with Mike Kojonen of Principal Preservation Services. Mike serves western Wisconsin and the Twin Cities areas of Minnesota.
Episodes
Accumulation vs Distribution
60/40 Risk
Tax Implications for Rollovers
Great Side Gig Ideas for Retirees
For some people, the idea of retiring and then getting another job is detestable. For others, they can’t sit still and have to go find some other job. In this show, we discuss the benefits of taking on side gigs during retirement and explore five practical ideas that can help retirees stay engaged and financially secure.
Here’s what we discuss in this episode:
0:00 - Intro
1:52 – Consulting
2:43 –
The Five Love Languages of Financial Planning
The five love languages were made popular by author Gary Chapman. If you’re not familiar with them, they include acts of service, quality time, words of affirmation, gifts, and physical touch. In the spirit of the month of love, let’s take a look at how you may encounter the love languages when it comes to financial planning.
Here’s what we discuss in this episode:
0:00 - Intro
1:22 – Acts of Serv
Do Smart Investors Really Need a Financial Advisor?
If you’ve spent years successfully managing your own investments, do you really need a financial advisor? That’s the question Bob, one of our listeners, sent in. He’s got an MBA, knows the markets well, and has always handled his portfolio solo.
So, is working with an advisor just an extra expense, or could it actually add real value? In this episode, we break down when and why even experienced in
Social Security Claiming Tips for Unique Situations
Social Security claiming strategies can vary greatly depending on family dynamics. This episode explores how different family situations, such as those with a stay-at-home spouse or a blended family, can impact when and how to claim Social Security benefits to maximize your retirement income.
Here’s what we discuss in this episode:
0:00 - Intro
1:26 – Single-income households
3:53 – Coordinating c
The Snowbird Retirement: Is a Seasonal Move Right for You?
Winter has a lot of people thinking about warmer weather. For some, that just means an annual vacation down south. But for certain retirees, they choose to live elsewhere through the brunt of winter, becoming “snowbirds.” Is snowbird life for you? Let’s talk about what motivates people to take up temporary residence elsewhere, where they go, and if it’s worthwhile.
Here’s what we discuss in this e
Inflation-Proof Your Retirement in 2025
Inflation has been a hot topic in recent years, and its impact on retirement planning is arguably bigger than ever. As prices for everyday goods and services continue to rise, understanding how to effectively manage these changes is essential for securing a comfortable retirement. Let’s explore strategies for inflation-proofing your retirement and share a look into how we address this in our plann
How To Change Your Money Attitude In 2025
As we kick off 2025, a lot of people consider what they want the year to look like and how to put their best foot forward, especially financially. Think: “new year, new me!”
Today, we’ll talk about the financial decisions and habits you’ve maybe had in the past and what changes you can make this year to embrace the new you.
Here’s what we discuss in this episode:
0:00 – Intro
1:20 – Overspending
3
How Should You Invest Money That You’ll Need To Use In Three Years?
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 p
Retirement Spending Strategies That Will Help You Spend With Confidence
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
Are Future Retirement Worries Harming Your Mental Health TODAY?
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 – Chari
2024's Best Stocking Stuffers for Financial Freedom
🎄 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
Most Americans Are Forced to Retire Early - Are You Ready?
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 sit
Retirees Have a Serious Temptation Problem
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
What Financial Advisors Wish Every Investor Knew (Part 2)
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
What Financial Advisors Wish Every Investor Knew (Part 1)
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 – S
Pension & Retirement Plan Contribution Adjustments for 2025
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
Social Security Shake-Up: How Raising the Retirement Age Could Impact You
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 Congressiona
What Makes Our Financial Planning Approach Unique?
Every firm has distinct principles that guide its approach to financial planning. In this episode, we take you behind the scenes to explore the core values and unique processes that set Principal Preservation Services apart. We’ll walk you through how we get to know our clients on a deeper level, create personalized financial strategies, and how our approach redefines what it means to have a succe
Retirees In Their 70s Regret These 5 Things
A random, retired YouTuber did a simple video exploring the top 5 regrets from other retirees he interviewed (all in their 70s). It blew up to almost half a million views (and counting). Let’s see what regrets made the list and, more importantly, explore what proactive steps you can take to avoid having the same regrets when you retire.
Be sure to stay tuned until the end of the episode as Mike an
Unusual Fears & Financial Planning: Lessons from the Strangest Phobias
In this episode, we’re exploring some of the world’s most unique and quirky fears—and believe it or not, they have a lot more in common with your financial life than you might think.
From the fear of long words to the fear of peanut butter sticking to the roof of your mouth, we’ll navigate through a list of some of the world’s most peculiar fears and draw parallels to financial planning. Mike shar
Financial Mailbag: Retirement Savings, Life Insurance Claim, Finding an Advisor & More
In this special mailbag edition of the show, Mike answers a wide range of listener questions. From life insurance and alimony to savings and retirement planning, this episode covers many of the financial planning conversations we have with clients every day.
Here are some of the questions we’ll answer in this episode:
I’ve heard that you need to have between 15 and 20 times your annual salary in
How Kids & Grandkids Influence YOUR Retirement Planning
Retirement planning is a complex process that requires careful consideration of various factors, including the needs of your family. In the latest episode, Mike shares valuable insights on how children and grandchildren can significantly impact retirement goals and offers practical advice on how to navigate these challenges.
Here’s some of what we discuss in this episode:
More and more parents a
The Top 401(k) FAQs in 2024
Mike gets a lot of questions about 401(k)s and knows they can be tricky to navigate. That's why we're tackling your top questions in one comprehensive episode. From understanding target date funds to adjusting your investments as you near retirement, this conversation will cover a wide range of essential topics. Listen in to see what you can learn!
Here’s some of what we discuss in this episode:
Can You Retire on $42/Month?
Imagine retiring comfortably on just $42 per month—sounds too good to be true, right? Well, it’s exactly the assertion you might have seen in the headline of a recent article online.
Here’s some of what we discuss in this episode:
Is this article clickbait or is there some value to it?
Some strategies you need in order to save for retirement.
What are some realistic savings goals that people sho
Clearing Up Some Common Financial Half-Truths
We hear a lot of half-truths in the financial world, not necessarily because people try to make misleading statements, but because sometimes a simple statement just doesn’t quite tell the whole story. Join Mike as he goes over some common financial half-truths to try and help clear some things up and put your mind at ease.
Here’s some of what we discuss in this episode:
Knowing how much you are
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 wh
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 c
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 disc
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 lik
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, Millenni
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 e
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 o
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 e
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 rece
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 d
Will The Economy Boom Or Bust In 2024?
Everyone wants to know. Will the economy boom or bust in 2024? Join us as we explore a range of expert predictions, from the shifting trends in housing prices to the looming question of a potential recession or stock market crash.
Here’s some of what we discuss in this episode:
Why Mike feels bullish about real estate in the upcoming year.
Is a recession coming in 2024? Mike says there’s a lot o
Patience Pays: The Power of Delayed Gratification (Part 2)
Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit, when you should really consider the delayed rewards.
In part two of our discussion, we’re going to talk through four more situations which people commonly pick the option that g
Patience Pays: The Power of Delayed Gratification (Part 1)
Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit when you should really consider the delayed rewards.
Here’s some of what we discuss in this episode:
It might not seem like a big deal to miss a 401k contribution and the compa
Financial Tweaks That Matter: Small Steps, Big Impact
Ever thought that minor tweaks in your financial plan could lead to major wins? In this episode, we're exploring the surprisingly powerful world of simple financial adjustments. From finding the right balance in your cash reserves to consolidating old 401Ks, we're unpacking those seemingly small steps that can bring about big, positive ripples in your financial life.
Here are a few of the financ
End of Year Financial Planning For 2023
We're nearing the end of the year, but it's not quite over yet! Join us for a thoughtful episode where we unpack our 2023 edition of key year-end planning strategies for those nearing or embracing their retirement years.
Here’s some of what we discuss in this episode:
Regularly reassessing and rebalancing investment portfolios
Tax-loss harvesting, required minimum distribution (RMDs), and qualif
Money Mistakes You’ll Regret and How to Avoid Them
Ever wish you could foresee financial missteps before they happen? On today’s episode explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you.
Here are the mistakes we’re going to talk through:
I regret taking premature IRA withdrawals.
I spent way too much in my peak earning years.
I paid so much in tuition
Retirement Planning for High-Net-Worth Individuals
In today's episode, we're taking a close look at high-net-worth individuals - those who have accumulated significant wealth and face unique challenges and opportunities when planning for retirement. Unlike the average person, their financial considerations go beyond the basics. We'll explore the distinct strategies and factors that come into play when securing a comfortable and prosperous retireme
Understanding RMDs: A Guide For Retirees & The Soon-to-Retire
Are you over 55 and pondering retirement? Dive into the world of Required Minimum Distributions (RMDs) with us. In this episode, we demystify the reasons behind mandatory withdrawals from your retirement savings.
Discover strategies to potentially avoid them and understand the risks of not preparing in advance. And for those fortunate to not rely on RMDs for income, we'll explore impactful ways t
Navigating Finances After Losing a Spouse: Strategies & Mistakes to Avoid
Losing a spouse is an unimaginably tough life event, but the financial implications can add another layer of stress to the grieving process. In this episode, we delve deep into the most common financial issues faced by widows and widowers, from dealing with income gaps to navigating tax changes as a single filer.
We explore actionable strategies to address these problems, such as the importance
Navigating the Transition to a New Financial Advisor
In today's episode, we'll explore the sensitive and significant process of transitioning from one financial advisor to another. We'll cover how to recognize when your current advisor may no longer be serving your financial needs effectively, the right questions to ask, and crucial factors to consider when searching for a new financial partner.
Here are some key topics to listen for in this episo
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, an
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 inv
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 retire
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
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 w
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 yo
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 agg
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
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 Admi
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 g
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 mainten
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
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 Req
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’
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
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:
A
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
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, w
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.
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
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
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 l
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-i
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 st
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 ch
Ep 98: Tough Topic – Retirement and Divorce
Going through a divorce at any age is difficult, but doing it near or in retirement adds all sorts of additional complications. On this episode, we’ll talk about some of the financial mistakes we see people make in the midst of a divorce.
Here is some of what you’ll learn on this show:
Why choosing the house over other financial assets might not be in your best interest. (2:06)
The tax implication
Ep 97: What Grade Can You Get on This Retirement Planning Quiz?
Don’t dread this as much as you hated hearing these words as a kid, but it’s time for a pop quiz! We’re putting retirement planning preparedness under the microscope with 5 critical questions to which you need to know the answers. So sharpen those pencils and let’s see how ready you are for retirement.
Here is some of what you’ll learn on this show:
How much income will you need in retirement comp
Ep 96: Picking Sides In Important Financial Debates
On this episode, we’ll try to pick sides of some important financial debates. From bonds to life insurance, credit card debt to starting Social Security, we’ll propose several different topics to see which sides of the debates you and your advisor should probably fall on.
Here is some of what you’ll learn on this show:
Why it might not always be the best strategy to pay off your house as soon as
Ep 95: Investor Beware: Spotting Red Flags When Picking An Advisor
In the current market, a lot of us are looking to work with an advisor to help withstand these market turns. So, what do you need to look out for when working with a new professional?
An advisor that is a jack of all trades may not be the best fit for someone approaching retirement. Similarly, if they only tell you the good news, use a lot of technical jargon, or try to predict the turns of the ma
Ep 94: Counting Down the Days Until Retirement
On this episode of the podcast, we’ve assembled a list of priorities to keep in mind as you count down the days to retirement. This won’t replace proper planning but running down this checklist will help you make sure you’re putting your best foot forward as you enter retirement.
Today's key points:
0:49 – Headed to Ireland
1:53 – Get healthy
3:22 – How will you spend your free time?
4:43 – Do
Ep 93: Can you Retire at 55?
With the great resignation sweeping the nation we’ve been hearing more and more from people that want to retire early. On today’s episode, we want to explore this topic and a recent Yahoo News article that breaks down whether you can really retire at age 55.
Retiring early can present a wide variety of unique challenges, for example, what will you do if you can’t take Social Security yet? You need
Ep 92: Common Housing Questions from Retirees
For the majority of people in Minnesota and across the country, your house will be the most expensive asset you ever own or manage. That’s why it’s no surprise that it takes up a big slice of the financial planning conversation.
Retirement brings along another set of decisions to be made with your house so we wanted to address some of the most common ones we hear at Principal Preservation Services
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