Aug 17, 2018
Main Questions Asked:
Will I have enough income to
last my retirement, longer life expectancy, and outpace
Am I being smart about planning
my retirement while still helping my kids and looking out for my
Do I have lazy money that is not
earning a good return?
Key Lessons Learned:
The Glory Days of Retirement Planning
people have pensions these days. Companies are also trying to buy
out pensions. We are on our own a little bit more.
- Longer life expectancies. Living longer is
great, but we need more money to last longer. Many people will live
past 100. We also will need to keep up with the cost of
- Taking care of parents and kids. It is harder
for the sandwich generation and there is an emotional component.
There can be a high cost with long-term care and kids in
takers than contributors to Social Security. Working people pay in
now for those who take it out now. There will be a shortfall when
more baby boomers retire. Have extra savings to offset the
possibility Social Security could get cut.
- Retirement planning is more difficult with 1%
interest rates. Lower expectations and don’t reach for risk to make
up the returns. No one has been hurt, but it will
Lazy Money That’s Not Earning a Good Rate of
is lazy money? It’s money either earning a very low return or money
that is just sitting around in cash. This excludes emergency fund
to help people who have too much lazy money? Help find investments
that limit the downside and use different products to get a higher
rate of return safely.
instinct not to have money exposed to the market is correct. But if
you are not earning enough to keep up with inflation, you are going
backwards. You need a solid plan. Only emergency money should be at
Links To Resources Mentioned
Money Map Retirement
Lump Sum Pension Payment Guide: 7 Crucial Factors of Your Decision
to Take Monthly Payments or Rollover a Lump Sum
Thank you for