Retirees face two big challenges. The first is how to invest their retirement assets. The second is determining how much they can withdraw each year from their retirement portfolios. What many retirees don’t realize is these challenges can be greatly reduced by paying for essential retirement expenses from guaranteed income sources. Guaranteed income sources include Social Security, pension plans, and annuities. Surprisingly, only about 10% of retirees partially fund their retirement … [Read more...]
195 Plus: Can This Family Retire?
This week March 10, 2018 on Money For the Rest of Us Plus, we analyze a member's financial situation and investment portfolio to see if they are able to retire even though they are in their mid forties. As part of the analysis, we look at why increasing stock exposure actually increases the probability of retirement ruin. … [Read more...]
117: The Retirement Journey
Why lower retirement spending rates means most retirees will need to work some during their retirement years. In this episode you'll learn: Show Notes Olutayo Ayodeji Suicide Prevention Gofundme Campaign Olutayo Ayodeji Facebook Profile 16th Annual Transamerica Retirement Survey Consumer Expenditures Survey (retiree data in second column from the left) Determining Withdrawal Rates Using Historical Data - William P. Bengen - Journal of Financial Planning - October … [Read more...]
90: The True Cost and What It Takes To Be Retired
Knowing what things truly cost can help us live like we are already retired. In this episode you'll learn: What are the three things that make up the cost of a thing.What are negative externalities.The difference between something that is used versus used up.How to live like you're already retired. Show Notes Meet Wish, the $3 billion Shopping App That Could Be he Next Walmart - re/code A quick guide to Bangladesh's Rana Plaza collapse and its lasting impact - Los Angeles … [Read more...]
83: Please Save More
Why individuals need to save more for retirement and how to figure out how much more you should save. In this episode you'll learn: How life expectancies have changed over the decades.Why traditional defined benefit rose in prominence and then declined.How much should you save to retire.Why most retirees might eventually need the help of an annuity. Show Notes A Timeline of the Evolution of Retirement In the United States Bureau of Labor Statistics - Cost of Defined … [Read more...]
69: Do You Feel Financially Trapped?
What to do when you feel financially hopeless. In this episode you'll learn: When to hire a financial advisor.The true value of Social Security.Four ways to find hope when feeling financially hopeless.A new way to connect and get your questions answered on Money For the Rest of Us. Show Notes Get What's Yours: The Secrets To Maxing Out Your Social Security by Laurence J. Kotlikoff Episode 42: All Countries Are Insolvent Episode 36: How Wealthy Are You? Phil … [Read more...]
MNY033 Plus: Perfecting Your Craft
In this week's Money For the Rest of Us Plus episode, I discuss lifelong work and perfecting your craft. Specifically, early retirement doesn't always mean doing something different, but could mean performing your lifelong passion in a different location or in a different manner. I share the story of two individuals who have pursued their craft for decades and will probably never retire because they live like they are already retired, performing work that is inherently rewarding for its own … [Read more...]
