In this special final episode of 2022, I’m going to share clips from the top five most downloaded episodes of 2022. I cover everything from huge retirement mistakes that you should avoid to the types of accounts you want to use to save for retirement. These contain some of my best tips from the year. Don’t miss this special edition of the Retirement Made Easy podcast!
You will want to hear this episode if you are interested in…
- [0:29] Episode #118: 3 Types of Accounts You Want to Have to Save for Retirement
- [3:21] Episode #99: The Two Types of People Who Fail at Retirement
- [6:44] Episode #103: How to Avoid these HUGE Retirement Mistakes
- [8:09] Episode #107: 6 Reasons Why People are Scared to Retire in 2022
- [11:37] Episode #108: Two Things You Should NEVER Do
Episode #118: 3 Types of Accounts You Want to Have to Save for Retirement
There are three accounts I believe you NEED to have to save for retirement to create a blended income stream:
- Account Type #1: Roth IRA, 401k, 403B, or TSP
- Account Type #2: The traditional IRA, 401k, 403B, or TSP
- Account Type #3: A brokerage account/trust account/non-qualified account
If you have a measuring cup with three different pots in front of you, you want to take a little bit from the Roth IRA, 401k, and another scoop from the brokerage account.
Having these three types of accounts gives you flexibility in retirement. We plan and calculate exactly what to withdraw from each type of account. You’ll only need to make changes if the tax law or your goals change.
Episode #99: The Two Types of People Who Fail at Retirement
The first type of person that fails at retirement lacks a sense of purpose. This is someone who hasn’t planned for what they will do with their time. This type of person really struggles once the feeling of living in an infinite vacation subsides. They start to miss the sense of purpose they had when they were working. What can you do to combat this? Listen to hear my recommendations!
Episode #103: How to Avoid these HUGE Retirement Mistakes
You can’t retire without a plan. I spoke with someone whose husband always told her that they’d be okay, without showing her the plan to prove it. It’s so important to have a plan. This woman is 57 with an 87-year-old mother. If she lives as long as her mother, it needs to last another 30 years—or longer.
Episode #107: The top 6 reasons why people are concerned about retirement in 2022
What concerns leave people afraid to retire? According to the Schroders 2022 US Retirement Survey, these are the top six reasons people are concerned about retiring:
- The impact of inflation: People are scared of the impact inflation will have on their assets. 65% of people listed inflation as their top concern.
- The cost of healthcare: Sadly, we can expect that healthcare costs will always continue to rise. Medicare part B premiums continue to climb—so you have to plan.
- A major market downturn: This is what we’re currently experiencing in 2022. This will impact your retirement accounts.
- An unexpected health issue: As you get older, you’ll focus more on healthcare, so that you’re not stuck draining your savings on an unexpected health issue.
- Taxes reducing retirement savings: This is something a financial planner can easily help you plan so you don’t give Uncle Sam more than you have to.
- Not being able to afford the lifestyle they want: Everyone wants to maintain the lifestyle they’ve become accustomed to. Some want to be able to do more when they retire.
Have you noticed a trend? If you don’t carefully plan for your future, it’s a HUGE mistake. The people that make retirement planning a priority are the ones who will have the retirement they’ve dreamed of.
Hear a clip from THE most downloaded episode of 2022 by listening to the whole episode!