Today’s Mission:

Are you wondering if it’s safe to retire? What kind of factors should you consider beforehand? In looking at your lifestyle and preparing you for some of the unknowns, J’Neanne gives some pointers on how to know when you’re ready to retire. She then talks tax reform as we put Tax Day 2019 behind us.

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

Strategy Points:

[2:46] Do Most People Aim For A Certain Retirement Age Or A Dollar Amount?

  • For a lot of people wanting to enjoy a safe retirement, it’s an age or a combination of age and money.
  • People are working longer, especially when they love their job.
  • If you’re retiring younger, you need to have enough savings to last longer.
  • You need to see what your cost of living is to find out whether it will drain your portfolio. Make sure your portfolio will be safe.
  • It’s important to have realistic expectations about your lifestyle, and you need a financial coach who can help you make realistic goals.

[7:10] Other Factors Including Family, Travel, And The Market Will Impact Your Retirement

  • J’Neanne shares about a client who travels regularly to see grandkids and the costs associated.
  • You have to build this into the budget to understand the impact it has on your retirement savings.
  • There are a lot of unknowns in retirement.
  • Every software projects a linear return, but there’s no such thing as a linear return.
  • Couples have to be on the same page and understand what the standard of living will be.

[12:15] The Numbers May Seem Arbitrary, So Instead, Ask What You Really Want To Do

  • If you pull Social Security early, there is an earnings test.
  • Think through whose healthcare you are under since Medicare doesn’t start until 65.
  • J’Neanne encourages clients to work until full retirement age per Social Security.

[15:28] Getting To Know You: The Most Beautiful View

  • Home is nice, but is it better than the West?

[20:01] In The News: Tax Reform

  • For most people it’s going to seem very positive.
  • Tax brackets were widened and decreased.

The Grand Plan:

The Spy Kit:

Click the image to get a free retirement rescue toolkit.

More Intel:

The host: J’Neanne TheusContact – Call: (443) 718-6310

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