Nearly all of us have the same end game in mind, which is to make it to retirement and enjoy our lives in whatever way we choose. But how much we need in retirement varies from person to person. We all have our own definition of financial security, and today we’ll talk about some of those meanings.
(Click the featured times below to jump forward in the episode)
Take a second and think about where you want to be and what you want to do in retirement. Now think about how much you think you’ll need.
It’s different for all of us and there’s no right or wrong answer. How we want to enjoy our retirement and the objectives we set for ourselves varies from person to person. But it’s understanding the reasons that will help a financial advisor develop the best retirement plan for you.
In this episode of Your Financial Mission, we discuss financial security, what it means, and the different forms it takes for each individual. J’Neanne shares a personal story about her own family that ties into the discussion and we wrap things up by letting you know how every definition plays a factor into your retirement plans.
We all want our investments to meet our objectives later in life and proper planning will help you reach that point. If you haven’t thought specifically about what security means to you, hopefully this episode will help you formulate your goals.
To save you some time, we’ve laid out the rundown for this show so you can click the timestamps to skip ahead to specific times if you choose.
0:54 – J’Neanne is back from a family vacation.
5:40 – Introducing why financial security is today’s topic.
6:14 – Explaining what’s meant by ‘I don’t want to be a burden on my kids.’
8:52 – Why you should discuss this with your children.
10:50 – J’Neanne shares her personal experience having the conversation with her mom.
13:17 – After retiring, some people want to stay active with work or a hobby.
14:55 – For some people, cash flow is the driving concern behind financial security.
16:58 – People that want to stop watching the volatility of their accounts.
18:56 – How to use your meaning to adjust your retirement plans.
The Grand Plan:
[spp-tweet tweet=”I really do encourage people to talk with their kids about what it could potentially look like when you do get to that situation where, maybe you’re not a burden, but you don’t want some care from the people you love and who love you versus outsourcing it to people who really don’t know you or really care. – Your Financial Mission”]
The Spy Kit:
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