Today’s Prep:
When making any decisions, you may get to a point when you have to make some compromises. How about when it comes to your retirement plans, are you making too many compromises?
Equipping Points:
When you are saving for retirement, you want nothing but the best. But along the way, you may feel the need to make compromises as you weigh out various decisions. Isn’t that inevitable?
Neil Wilding, contributor to the book The No-Compromise Retirement Plan, is a guest speaker on today’s episode of Retirement Ready. Neil says that compromises are a foundational issue people struggle with in retirement.
You may struggle between growth vs. protection when making financial decisions. Depending on your goals or needs, you may feel you have to sacrifice one over the other. Another struggle might be income over legacy. What other compromises are being overlooked?
Eric and Neil talk about different strategies you may want to consider as a part of your retirement savings plan. Ultimately, you want to be able to look at your retirement assets and know what to expect down the line, especially when it comes to taxes.
Listen to the full episode or click the timestamps below to hear the answers to these questions with Neil Wilding.
1:26 – What does it mean to have no compromises in retirement?
2:29 – What compromise is often overlooked in retirement?
3:45 – What strategies are there to save and prepare for taxes?
8:34 – How can you predict your tax liability in retirement?
Related Resources:
Wishful Thinking In Retirement Planning
How To Ask Better Financial Questions
Today’s Takeaway:
[spp-tweet tweet=”Think how much extra income you would have if your retirement savings came out tax-free. –Eric Peterson“]
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