How To Create A Retirement Plan Without Compromises, Part 2

Today’s Prep:

We all want a certain sense of safety and security, but we also need the growth and potential that comes with risk. So how do you weigh out the two and create a plan without compromise? What tools can be used to achieve the right combination of both safety and growth?

(Click the featured times below to jump forward in the episode)

 

Equipping Points:

Creating a retirement plan that is without compromises can be a challenge, but believe it or not, it is possible. You need to identify where some of the compromises occur in order to create strategies around those decisions that allow you the freedom to get what you want out of them.

Neil Wilding, contributor to the book The No-Compromise Retirement Plan, is a guest speaker on today’s episode of Retirement Ready. This is the second part of a series discussing what a retirement plan without compromises can look like. Part 1 focused on taxation and avoiding compromises there.

A big area of compromise in retirement planning is found in the tension between growth vs. safety. You want the gains without the risk. So, what are some opportunities to achieve that?

Neil and Eric discuss several tools that you may want to include in your retirement plan, including indexing and life insurance. Then, when it comes to taxes, that can be full of compromises if you aren’t prepared for them. Instead of looking at the compromises though, consider the opportunity in the current tax rates by using the low rate to your advantage in how you save your money now.

Listen to the full episode or click the timestamps below to hear the answers to these questions with Neil Wilding.

[1:16] – One of the compromises in retirement is deciding between growth vs. safety.

[1:56] – How can the power of indexing work to your advantage?

[6:55] – What are some areas to be aware of with life insurance?

[10:45] – What happens when the tax rate changes?

 

Related Resources:

How To Create A Retirement Plan Without Compromises, Part 1

How To Ask Better Financial Questions

Today’s Takeaway:

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The host: Eric Peterson - Contact - Call: (515) 226-1500

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