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?
(Click the featured times below to jump forward in the episode)
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:
Subscribe To The Podcast:
Apple Podcasts - Google Podcasts - Spotify - Stitcher - iHeartRadio - TuneIn
Check out some other recent episodes
Translating Financial Jargon
Do you know the difference between large cap and small cap funds? What are basis points? This episode will discuss various financial jargon to help translate what these really mean.
Read MoreFinancial Fill in the Blank
What’s the best way to not run out of money in retirement? What are most people worried about when retirement planning? Eric fills in these blanks in today’s episode.
Read MoreWhat to Know About Biden’s Initial Executive Orders
Let’s take a look at some of Biden’s executive orders so far in his first few weeks. How could they alter your financial plan?
Read MoreMailbag: Retirement Planning With Separate Bank Accounts
From managing your income as a contract employee to managing your income in retirement, Eric answers three questions from the mailbag in today’s episode of the podcast.
Read MoreEstate & Legacy Planning FAQs
When receiving an inheritance, a lot of interesting or unexpected scenarios can occur. We discuss four different situations to hear Eric’s advice on how to handle them on today’s episode of the Retirement Ready podcast.
Read MoreWhat Does Mark Twain Have to Say About Your Financial Plan?
What financial wisdom can we glean from the sayings of Mark Twain? Believe it or not, many of these quotes are quite relevant today.
Read MoreNew Year, New Ideas to Consider
We all like the idea of a fresh start in the new year. What changes are already underway? Or, what changes might be unwelcomed when it comes to your retirement plan?
Read MoreMailbag: Should I Use My Severance Package to Pay Off the House?
Whether you want to learn more about using your HSA or trying to make strategic use of your severance package, Eric answers three questions from the mailbag. Do any of these questions relate to your situation?
Read MoreThings Your Advisor Should Be Doing
What kind of decisions are you making alongside your financial advisor? How do you know if they are doing everything you need when it comes to creating and implementing a retirement plan? Eric talks through what you deserve from a financial advisor and how his team works with clients to meet their needs.
Read MoreThe Three Worlds of Money
Do you know the three worlds of money? Where does the bulk of your money live? Is your money appropriately balanced across all three worlds? We’ll break it all down on this episode.
Read More