Fact or Fiction: Financial Situations in Retirement

Equipping Points:

We play a game of fact or fiction when it comes to these five financial statements. Eric explains which one is which and shares why these ideas are true or false. As you make a financial plan, it’s crucial to base it on facts and reality so you can best prepare for retirement.

Today, we talk about what taxes really look like in retirement, what expenses you should expect, and how to keep your investments safe.

Which of these is fact and which is fiction:

  • Fact or Fiction: Social Security is taxable.
  • Fact or Fiction: Your taxes will be lower in retirement.
  • Fact or Fiction: Term life is better than whole life insurance.
  • Fact or Fiction: Medicare will cover most of your medical needs in retirement.
  • Fact or Fiction: As you get older, you should shift from stocks to bonds.

If you have any questions about what we discussed on the show or want to follow up with any financial planning questions of your own, get in touch with us and schedule a visit here. 

 

Today’s Takeaway:

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