The Income For Life Show: Recent Episodes
Income For Life
The Income For Life Show, powered by Folds Of Honor.
Join the Income For Life team as they discuss common financial and retirement income concerns and break them down in an easy-to-understand way. No financial jargon (without an explanation) on this show!
Retirement, annuities, income, taxes, planning, common mistakes, the stock market, emotions... We cover it all on the Income For Life Show.
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About Income For Life: Your Top Rated National® Retirement Resource You should not have to struggle on your own to figure out how best to fund your retirement years. The process can often be complicated and frustrating without the right people at your back. We provide a variety of income planning tools to help you know that you will have guaranteed income throughout your retirement.
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The original Toy Story came out 30 years ago, which means some of you took your kids to see it in theaters. Now you can bring your grandkids to see the latest one. Before you do, we thought it would be fun to revisit some of the iconic moments from the franchise and see what they say about your retirement.
Matt and Sam break down memorable Toy Story quotes like "To Infinity and Beyond," "You've Got a Friend in Me," and "This Isn't Flying... It's Falling with Style" to uncover practical retirement planning lessons about long-term thinking, guaranteed income, purpose, and avoiding common financial pitfalls.
They also answer a listener question about retiring before age 59½, discuss the excitement of experiencing the World Cup in Kansas City, and wrap up the show with another Retirement Ride Along featuring some of their favorite hidden gems in New York City.
Here's some of what we discuss in this episode:
Get-to-know-you questions: Favorite animals, irrational fears, movie characters (4:39)
Quotes of the week from Benjamin Franklin and Katharine Hepburn (15:14)
Main topic: What Toy Story teaches us about retirement (16:39)
Mailbag: Can I retire before age 59½ without penalties? (28:01)
Retirement Ride Along: Historic restaurants, pubs, and unforgettable experiences in New York City (31:24)
Bonus discussion: Experiencing the excitement of the World Cup in Kansas City (1:01:14)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today's Show:
Tavern on the Green https://www.tavernonthegreen.com/
Delmonico's https://www.theoriginaldelmonicos.com/
Fraunces Tavern https://www.frauncestavern.com/
The Dead Rabbit https://www.thedeadrabbit.com/
McSorley's Old Ale House https://mcsorleysoldalehouse.nyc/
Blue Note New York https://www.bluenotejazz.com/newyork/
The Paris Bar https://www.parisbarnyc.com/
Trump Tower https://www.trumptowerny.com/dining/midtown-bar-and-lounge-nyc
Nurse Bettie https://www.nursebettie.com/
In the spirit of Valentine's Day, let's have a little fun comparing a lifelong relationship to your financial journey. From the first spark all the way to 'til death do us part.
Get to know Matt and Sam better in this week's getting-to-know-you segment before they tackle a question from a listener who is fearful that the market is due for a correction.
For this week's Retirement Ride Along segment, the duo talks about their time at the Waste Management Open in Phoenix.
Here's some of what we discuss in this episode:
Get-to-know-you questions: Close friends, cats or dogs, and more (8:30)
Quote of the week from Buzzie Bavasi and Earl Wilson (16:57)
Main topic: From First Date to Forever: Your Financial Journey (19:29)
Mailbag: Where should I put money right now if I'm scared of a market drop? (26:26)
Retirement Ride Along: PGA Golf Tournament in Phoenix (31:42)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today's Show:
Andaz Scottsdale Resort & Bungalows
https://www.hyatt.com/andaz/en-US/phxaz-andaz-scottsdale-resort-and-bungalows?src=corp_lclb_google_seo_phxaz&utm_source=google&utm_medium=organic&utm_campaign=lmr
Olive & Ivy
https://www.oliveandivyrestaurant.com/locations/scottsdale-az/?utm_source=Google&utm_medium=Organic&utm_campaign=Maps
Trick-or-treat! This week, we're having a little Halloween fun. Let's see what your Halloween costume might reveal about your financial personality.
As usual, we share a few laughs in our getting-to-know-you segment and highlight some great quotes of the week. We also tackle a fantastic listener question about managing multiple financial advisors and how to simplify your retirement planning.
For this week's Retirement Ride Along, we chat about our trip back to Matt's hometown- Copeland, Kansas!
Here's some of what we discuss in this episode:
Get-to-know-you questions: Driving skills, least favorite chores, and more (6:47)
Quotes of the week from Bill Murray and more (19:34)
Main topic: What Your Halloween Costume Says About Your Money Habits (20:31)
Mailbag: Am I better off having all of my money in one place? (28:31)
Retirement Ride Along: Small-town fun in Copeland, Kansas (41:33)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
In this episode, Matt and Sam take a magical mystery tour through Beatles classics, uncovering practical tips for investing, planning, and preparing for retirement. From staying calm during market swings to recovering after financial setbacks, they show how iconic lyrics can inspire strategies to give your plan more clarity, confidence, and staying power.
They also do a fun “Back-to-School Retirement Planning Quiz” segment to test your knowledge on Social Security ages, IRA contributions, withdrawal rules, and common retirement risks. Last, in their Retirement Ride Along segment, they talk about a quick Napa Valley getaway, complete with a stay at the stunning Stanly Ranch and a tour of the art-filled Donum Estate. You’ll also hear a special shoutout to a Kansas City small business that helped bring their 1920s-inspired speakeasy to life.
Here’s some of what we discuss in this episode:
Get-to-know-you questions: Shopping sprees, making plans, superstitions and more (7:46)
Quotes of the week from Herbert Hoover and Bob Hope (21:54)
Main topic 1: Back to School Retirement Planning Quiz (23:17)
Main topic 2: Retirement Planning with the Beatles (30:39)
Mailbag: I want to start my own business. Should I take the money from IRAs or get a business loan? (39:50)
Retirement Ride Along: Exploring the beautiful Napa Valley (43:19)
Our wonderful experience with TheWireMan (56:36)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
Stanly Ranch
https://stanlyranchnapa.com/
Donum Estate
https://www.thedonumestate.com/
Wireman KC
https://www.thewiremankc.com/
In this episode of The Income for Life Show, Matt and Sam broadcast from their new home base in Kansas City, Missouri.
They discuss the recent office move from Topeka, Kansas, sharing the challenges and humorous moments along the way. They dive into the relevance of the Big Beautiful Bill to retirement plans, including key tax bracket changes and myths. The show also features a listener question discussing the advantages of moving to a no-income-tax state like Florida.
Lastly, Matt and Sam recount their recent trip to New York City, highlighting their experiences at the New York Stock Exchange, Harry's on Wall Street, and other notable spots. Listen in for useful financial insights, personal anecdotes, and travel tips.
Here’s some of what we discuss in this episode:
Welcome to the New Income for Life Show & New Location (0:00) Get-to-know-you questions: Parties, being a fly on the wall, and more (7:09) Main topic 1: Key Takeaways from the “Big Beautiful Bill” (20:00) Main topic 2: “Big Beautiful Bill” Myths Exposed (27:47) Mailbag: “Is moving to a tax-free state still beneficial?” (34:14) Retirement Ride Along: Exploring New York City (37:47)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
Harry’s - https://www.harrysbarrestaurant.com/
Stardust Diner - https://www.ellensstardustdiner.com/
Sylvia’s Queen of Soul Food in Harlem - https://sylviasrestaurant.com/
Tiffany’s - https://www.tiffany.com/stories/the-landmark-fifth-avenue/
The Monkey Bar - https://www.nycmonkeybar.com/
Russian Tea Room - https://russiantearoomnyc.com/
Bathtub Gin - https://www.bathtubginnyc.com/
The River Cafe - https://rivercafe.com/
A little hope is good for the soul, but when it comes to retirement planning, wishful thinking can lead to serious financial mistakes. Today, we’re walking through five common examples of wishful thinking that can quietly damage your retirement and how you can build a plan that protects your future instead of relying on luck.
In addition to our main topic, usual get-to-know-you questions and quotes of the week, we’ll also share some key things for parents and grandparents to teach a new graduate. Tune in as we cover some practical ways you can help your graduate make smart financial decisions early, along with actions that could have a lasting impact on their future.
This week, Colin from Beaumont, Texas asks whether there are any downsides to using a large life insurance policy to help his kids with potential future estate and inheritance taxes. For our Retirement Ride Along Segment, we’re talking about our time in Charlotte, North Carolina.
Here’s some of what we discuss in this episode:
Get-to-know-you questions: Airports, singing in the shower and more (5:51)
Quotes of the week from Spike Milligan and Thomas Edison (15:24)
Main topic 1: 5 Ways Wishful Thinking Can Damage Your Retirement (19:53)
Main topic 2: Key Things For Parents & Grandparents To Teach A New Graduate (29:57)
Mailbag: “What are the downsides of using life insurance to leave tax-free money?” (39:43)
Retirement Ride Along: Attending the PGA Championship at Quail Hollow (45:20)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
Steak 48
https://www.steak48.com/steakhouses/charlotte/
OMB
https://www.ombbeer.com/
The Masters is a beautiful reminder of just how much strategy, patience, and long-term focus goes into a great round of golf. Turns out, retirement works a lot like the game. Today, we’re teeing up a few key lessons from the course and how they translate into smarter planning for your financial future.
As always, we’ve got some great “get to know you” questions lined up for this week’s show, plus a few witty quotes of the week from Winston Churchill and Malcolm Forbes. We’re also bringing you a fun second topic today- the retirement assassins- those sneaky, silent killers of your financial future.
Podcast listener Rebecca sent in a question this week about the popular 4% rule, and we’ll be sharing our insights with her. Then, we’ll dive into this week’s Retirement Ride Along segment, where we recount our time exploring Lee’s Summit, Missouri!
Here’s some of what we discuss in this episode:
Get-to-know-you questions: What we’d be famous for, time travel, and more! (6:44)
Quotes of the week from Winston Churchill and Malcolm Forbes (20:03)
Main topic 1: Retirement Lessons From The Masters (22:16)
Main topic 2: Retirement Assassins (31:32)
Mailbag: “Does the 4% rule still work?” (40:02)
Retirement Ride Along: A trip to Lee’s Summit (43:51)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
The W:
https://www.strotherdist.com/the-w-1
Libations & Company:
https://givedrink.com/
The 1909 Club:
https://givedrink.com/live-music/
The five love languages were made popular by author Gary Chapman. If you’re not familiar with them, they include acts of service, quality time, words of affirmation, gifts, and physical touch. Let’s think about how you may encounter the love languages when it comes to financial planning.
This week’s getting-to-know-you segment is full of laughs as we dive into childhood beliefs, magic wishes, and what our personal warning labels would say. Plus, we’ve got some great quotes of the week to share!
For this week’s listener question, Sam from Rhode Island asks whether managing investments without a broker or advisor is a bad move as they get older. And in this week’s Retirement Ride Along, we’re talking about a special event we experienced that’s fun for all ages.
Here’s some of what we discuss in this episode:
Get-to-know-you questions: warning labels, genie wishes, childhood beliefs (4:13)
Quote of the week from David Feherty (17:37)
Main topic: The Five Love Languages of Financial Planning (20:06)
Mailbag: Is it a bad idea for me to keep managing investments alone? (30:40)
Retirement Ride Along: Our experience at Planet Comicon KC (34:15)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
Planet Comicon
https://planetcomicon.com/
The day President Trump took office, he announced plans to implement a 25 percent tariff on goods from Mexico and Canada. Additional tariff conversations have exploded since that day. How might this impact your personal finances and the economy? Today, we’ll explain a bit of the backstory of tariffs and discuss these new tariffs.
Like always, we have some great quotes of the week to share and fun getting-to-know Matt and Sam questions to get the episode started. Later in the episode, we hear from one of our listeners, Peter, who’s at his wit’s end with his soon-to-be former broker. He’s shocked by the high fees on his variable annuity and is curious if those costs are normal.
For this week’s Retirement Ride Along, we’re talking about some new finds in Kansas City!
Here’s some of what we discuss in this episode:
Get-to-know-you questions: New careers, life on other planets, and more (6:13)
Quote of the week from Jack Yelton (17:57)
Main topic: What do proposed tariffs mean for your portfolio? (21:55)
Mailbag: Are these high variable annuity fees normal?! (36:00)
Retirement Ride Along: New treasures in Kansas City (41:10)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
Cheval
https://www.chevalonmain.com/
The Ship
https://www.theshipkc.com/
Financial mistakes can happen at any age, but they can have a particularly significant impact in your 60s. In this episode, we’ll explore 5 common financial mistakes to avoid during this crucial decade, along with 4 budget-friendly retirement activities to inspire your golden years.
As usual, we have some fun getting-to-know Matt and Sam questions lined up, as well as quotes of the week from Walt Mossberg and Jack Canfield.
For this week’s listener question, Dale asks whether he should make his 401(k) investments more conservative despite their recent strong performance. For our Retirement Ride Along segment, we’ll talk about some new discoveries in downtown Kansas City.
Here’s some of what we discuss in this episode:
Get-to-know-you questions: Causes we’re passionate about, things we save on, and more (4:36)
Quotes of the week from Walt Mossberg and Jack Canfield (19:12)
Main topic 1:5 Financial mistakes to avoid in your 60s (21:35)
Main topic 2: 4 budget-friendly retirement activities (33:03)
Mailbag: Should I make my 401(k) investments more conservative? (41:03)
Retirement Ride Along: A date night in Kansas City (44:26)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
Vye Cocktail Lounge:
https://vyeonmain.com/
Tailleur:
https://tailleuronmain.com/
As we kick off 2025, a lot of people consider what they want the year to look like and how to put their best foot forward, especially financially. Think: “new year, new me!” To figure out what the new “you” is all about, sometimes it helps to reflect first on what you’ve done in the past and what you want to change moving forward. Today, we’ll talk about the financial decisions and habits you’ve maybe had in the past and what changes you can make this year to embrace the new you.
This week, we're diving into more fun 'getting-to-know-you' questions and sharing two inspiring quotes from Conrad Hilton and Tim Ferriss. Then, as a special treat, we’ll feature a second main topic that might just be a new Sam favorite: What Dolly Parton Can Teach You About Smart Money Moves.
As always, we answer a listener question- this time from Dana, who asks what we consider a reasonable amount to leave as a legacy. And for our Retirement Ride Along segment, we’ll share some exciting local discoveries we enjoyed over New Year’s right here in Kansas City!
Here’s some of what we discuss in this episode:
Get-to-know-you questions: Social media usage, news sources, and more (8:37)
Quote of the week from Conrad Hilton and Tim Ferriss (19:48)
Main topic 1: New Year, New Me (21:51)
Main topic 2: What Dolly Parton Can Teach You About Smart Money Moves (35:00)
Mailbag: Figuring out how much to leave as a legacy (45:45)
Retirement Ride Along: Some new spots in Kansas City (52:39)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
The View at Briarcliff
https://theviewatbriarcliff.com/
The Farmhouse
https://www.eatatthefarmhouse.com/
Chicago’s
https://www.visitkansascityks.com/listing/chicagos/315/
Did you know most Americans retire earlier than planned, often due to unexpected health issues, job changes, or financial surprises? These challenges can force people out of work early, leaving them unprepared for decades of retirement. In this episode, we’ll explore recent research highlighting the importance of planning for early retirement, even if it’s not in your current plans.
We have some fun getting-to-know-you questions lined up for today’s show and great quotes of the week by George Burns and Antoine de Saint-Exupéry. For this week’s listener mailbag, Sandy in Buffalo asks how much money her and her spouse should have in the bank approaching retirement.
For this week’s Retirement Ride Along segment, we’ll share more about our recent trip to Nashville, Tennessee!
Here’s some of what we discuss in this episode:
- The Truth About Annuities (2:47)
- Get-to-know-you questions: Business ideas, switching lives, strange food combinations (8:38)
- Quote of the week from George Burns and Antoine de Saint-Exupéry (21:03)
- Main topic: Most Americans Are Forced to Retire Early (22:10)
- Mailbag: How much money should we have in the bank? (29:33)
- Retirement Ride Along: A fantastic trip to Nashville (33:10)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
The Truth About Annuities
https://incomeforlife.org/the-truth-about-annuities/
The Thompson Hotel
https://www.hyatt.com/thompson-hotels/bnath-thompson-nashville
The Marsh House
https://www.marshhouserestaurant.com/
The Second Fiddle
https://www.thesecondfiddle.com/
Boot Barn
https://www.bootbarn.com/stores?StoreID=0149&srsltid=AfmBOopH1AFbcTrzcMmm7i8h_9YMUTpv2kQ9aKCmXCTD42rzHtZ2aQvb
Robert’s Western World
https://robertswesternworld.com/
Audrey
https://www.audreynashville.com/
Country Music Hall of Fame
https://www.countrymusichalloffame.org/
Everyone loves a good game show. Whether it’s spinning the big wheel or hitting the buzzer with all the right answers. But what happens when people turn their retirement planning into a game? Spoiler alert: it’s not always a win! In this episode, we tackle the risky moves people make when they treat their finances like a game of chance.
It has been a crazy week here in our nation. That’s why, instead of our usual Retirement Ride Along segment, this will be a special election edition of the show. We thought it was important for us to take a moment to reflect and dive a little deeper into what these recent changes mean looking ahead.
As always, we’ve got some great getting-to-know-you questions, inspiring quotes of the week, and an interesting mailbag question to dive into. We hope you’ll tune in and join us!
Here’s some of what we discuss in this episode:
- Get-to-know-you questions: Schools and career paths, nicknames, and more (9:36)
- Quote of the week from George Burns and Antoine de Saint-Exupéry (20:39)
- Main topic: Don’t Gamble with your Nest Egg: Lessons From Your Favorite Game Show (22:41)
- Mailbag: "I stopped my 401(k) contributions due to election uncertainty, but since the market didn’t crash, should I start contributing again?" (35:11)
- Special Election Edition with Matt and Sam (39:32)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
You wouldn’t necessarily expect Mike Tyson, Kim Kardashian, or Snooki to dispense valuable insights about financial planning matters. In fact, you’d probably expect the opposite. But with a little bit of creativity, we can get some financial planning pearls of wisdom from even the most unlikely of sources.
We have some fun getting-to-know-you questions lined up for today. We’ll also share a few great quotes of the week, including one from Napoleon Hill. For this week’s mailbag question, Nelson from Fort Collins asks if he would be safe to retire at age 62. For this week’s Retirement Ride Along segment, we talk about our recent trip to Boulder, Colorado.
Here’s some of what we discuss in this episode:
- Get-to-know-you questions: Staying fit, sad and happy movies, and more (5:41)
- Quote of the week from Napoleon Hill (18:17)
- Main topic: Unlikely Financial Wisdom (20:21)
- Mailbag: “I can’t stand working from home and I’d like to retire. I’ll be 62 in a few months so I could start Social Security. Would I be safe to retire at that point?” (39:07)
- Retirement Ride Along: Our K State vs Colorado football trip (43:34)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
Bourbon and Baker Manhattan
https://www.bourbonandbakermanhattan.com/
Guard and Grace
https://www.guardandgrace.com/
Convergence Station
https://tickets.meowwolf.com/denver/
Sam’s No. 3
https://samsno3.com/
Remember the thrill of shaking a Magic 8 Ball to get answers to your childhood questions? Would we ace that math test? Would we be famous someday? Well, today, we're bringing a bit of that magic back. But instead of asking about pop quizzes and playground crushes, we’re turning to the Magic 8 Ball for advice on something much more important: your retirement planning! What would the Magic 8 Ball have to say about these common retirement questions if it had the wisdom of a financial advisor?
Of course, we’ll have our fan-favorite getting-to-know-you segment to kick off the show. We also have some fantastic quotes of the week by Will Rogers and Johnathan Swift to share with you. For this week’s mailbag question, Roger from Boise asks for advice on the best financial option to support their newborn grandson. For this week’s Retirement Ride Along segment, we talk about our trip to Los Cabos, Mexico.
Here’s some of what we discuss in this episode:
- Get-to-know-you questions: Quotable movies, dislikes, recent ridiculous actions (3:42)
- Quotes of the week from Will Rogers and Johnathan Swift (22:45)
- Main topic: The Magic Eight Ball’s Guide to Retirement Planning (27:28)
- Mailbag: “My first grandson was just born, and I'd like to do something for him financially. Should I contribute to a college fund, buy a life insurance policy, or just buy some stocks?” (43:17)
- Retirement Ride Along: A vacation to Los Cabos, Mexico (48:00)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
The Grand Velas
https://loscabos.grandvelas.com/
Imagine your retirement plan as a sports jersey, customized just for you. Today, we're exploring how every detail, from numbers to names, can define your financial future.
As usual, we’ve got some fun getting-to-know-you questions to kick off the episode and inspiring quotes of the week to share with you today. We’ll also discuss a recent MarketWatch Article about the rising cost of retiree healthcare.
For this week’s mailbag question, Dwayne from Tulsa asks how important it is to work until age 70 before starting Social Security. For this week’s Retirement Ride Along segment, we talk about our trip to the Czech festival in Wilson, Kansas, and a unique Airbnb stay in a nuclear missile silo.
Here’s some of what we discuss in this episode:
- Get-to-know-you questions: Favorite season, favorite breakfast food, and more (7:45)
- Quotes of the week from Bruce Lee and Randy Armstrong (20:40)
- MarketWatch Article: Health Care Costs Jump Almost 5%... (26:37)
- Main topic: Tailoring Your Financial Jersey for a Perfect Retirement Fit (32:26)
- Mailbag: “I’m only 57 and can’t imagine working another 13 years. How important is it to work until 70?” (47:25)
- Retirement Ride Along: Czech festival in Wilson and a one-of-a-kind Airbnb experience (54:13)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
MarketWatch Article:
https://www.marketwatch.com/story/retiree-healthcare-costs-jump-almost-5-to-165-000-more-than-double-the-2002-rate-7a44f619
Atlas Ad Astra Adventure Resort
https://www.atlasadastra.com/
Are you telling yourself financial lies? In today’s episode, we’re going to share the top 5 lies people often tell themselves about money and retirement. Some of these could be severely holding you back, so be sure to stay tuned!
This week’s getting-to-know you segment includes questions about impactful family members, after-work activities, and more! Then, we’ll share some quotes of the week by Greg S. Reid and Sun Tzu before diving into a great MarketWatch article about geopolitical conflict’s impact on the market.
For this week’s mailbag question, Cliff from New Jersey asks for guidance on how to plan for nursing home costs in retirement. For this week’s Retirement Ride Along segment, we chat about our recent trip to Phoenix.
Here’s some of what we discuss in this episode:
- Get-to-know-you questions: Family members, activities after work, best gifts ever (7:38)
- Quote of the week from Greg S. Reid and Sun Tzu (19:49)
- MarketWatch Article: The Biggest Risk To Markets Is No Longer Inflation, Say Fund Managers (23:34)
- Main topic The 5 Lies You Might Be Telling Yourself About Money (28:30)
- Mailbag: “I’m worried about future nursing home costs. What’s your approach to planning for that?” (38:06)
- Retirement Ride Along: Exploring around Phoenix (43:17)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
MarketWatch Article:
https://www.marketwatch.com/story/the-biggest-risk-to-markets-is-no-longer-inflation-say-fund-managers-2f12884e?mod=livecoverage_web
Royal Palms Resort and Spa
https://www.hyatt.com/en-US/hotel/arizona/royal-palms-resort-and-spa/phxub
T. Cooks Restaurant
https://royalpalmshotel.com/eat-drink/t-cooks
Ever heard the saying, ‘Always plan ahead. It wasn’t raining when Noah built the ark?’ Well, today we're diving into that very concept. How did Noah's forward-thinking approach help him survive the flood, and what can it teach us about preparing for retirement? Tune in as we unpack the ancient wisdom of Noah’s Ark and its modern-day implications for ensuring your retirement is secure, no matter what storms might be on the horizon.
We’ve got some great getting-to-know-you questions today to help you learn a little more about us. Then, we’ll share some quotes of the week from Will Rogers and Suze Orman. For this week’s mailbag question, David from Toledo asks if he should take out a large insurance policy on himself to ensure his wife is financially secure after his passing.
Be sure to stick around for this week’s Retirement Ride Along segment, where we chat about our weekend in Kansas City!
Here’s some of what we discuss in this episode:
- Get-to-know-you questions: Expressing love, friendship, and more (5:44)
- Quotes of the week from Will Rogers and Suze Orman (20:15)
- Main topic: Noah's Ark & Retirement Planning (22:48)
- Mailbag: “Should I take out a large insurance policy on myself?” (37:06)
- Retirement Ride Along: Celebrating our dating anniversary in Kansas City (41:18)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
Prime Social Rooftop
https://primesocialrooftop.com/
Eddie V’s Prime Seafood
https://www.eddiev.com/locations/mo/kansas-city/kansas-city/8517
Lula
https://www.lulakc.com/
In this episode, we’re diving into some famous words by the one and only Yogi Berra. You might know him for his legendary baseball career, but Yogi was also a goldmine of wisdom. We'll spin some of his classic quotes into financial advice. It's all about viewing things through the right lens- so let's see what financial insights we can uncover from Yogi’s memorable sayings!
It’s been a busy few weeks. We’ll catch you up on where we’ve been before diving into some fun getting-to-know-you questions. Then, we’ll share some great quotes of the week and unpack a MarketWatch Article about the 4% rule.
For this week’s mailbag question, Mary from Atlanta asks whether she should begin receiving her Social Security benefits earlier than planned due to her portfolio's recent fluctuations. For this week’s Retirement Ride Along segment, we’ll talk about moving Matt’s daughter, Madison, to Evansville, Indiana.
Here’s some of what we discuss in this episode:
- We’ve been busy! Let’s catch up (1:40)
- Get-to-know-you questions: Best concerts, most-used phone apps, and life lessons (7:54)
- MarketWatch Article: The 4% rule is ‘blind to the new reality’ of retirement life (23:20)
- Main topic: Yogi’s Wisdom on Making Financial Choices (36:52)
- Mailbag: “Should I start taking my Social Security benefits now given the recent fluctuations in my retirement portfolio?” (46:25)
- Retirement Ride Along: Move-in weekend in Evansville, Indiana (51:52)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
MarketWatch Article:
https://www.marketwatch.com/story/the-4-rule-is-blind-to-the-new-reality-of-retirement-life-do-this-instead-c5d7e879#:~:text=The%204%25%20rule%20suggests%20that,ever%20running%20out%20of%20money
Deerhead Sidewalk Café & Bar
https://www.deerheadpizza.com/
Nellie’s Newburgh
https://www.nelliesnewburgh.com/
Parlor Doughnuts
https://www.parlordoughnuts.com/evansville-in
Retirement planning doesn’t have to be overwhelmingly complicated. It certainly doesn’t have to be as complicated as some people make it. In our next episode, we unravel the unnecessary complexities often woven into the fabric of retirement advice. We’ll debunk some myths, simplify strategies, and uncover the beauty of simplicity and straightforward retirement planning.
As usual, we’ll tackle some fun getting-to-know-you questions at the beginning of today’s show. Then, we share two quotes of the week from Denis Waitley and Paul Samuelson. We’ll also take a look at a recent Kiplinger article that weighs the pros and cons of claiming Social Security at age 70.
For this week’s mailbag, we got a great question from Hazel of Salt Lake City. She’s considering retiring from her nursing job in the next 3 months and asks for a financial checklist of priorities she should consider before taking the leap. For this week’s Retirement Ride Along segment, you’ll hear about our recent trip to Chicago!
Here’s some of what we discuss in this episode:
- Life updates + a busy season ahead (2:31)
- Get-to-know-you questions: Least favorite jobs, best ice cream toppings, first jobs (6:32)
- Quote of the week from Denis Waitley and Paul Samuelson (21:07)
- Kiplinger Article: Waiting Until 70 to Claim Social Security (23:01)
- Main topic: The Beauty Of Simplicity When Planning For Retirement (31:51)
- Mailbag: What financial priorities should I consider before putting in my notice at work and retiring? (45:47)
- Retirement Ride Along: Celebrating Sam’s birthday in Chicago (52:20)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
Kiplinger Article
https://www.kiplinger.com/retirement/waiting-until-70-to-claim-social-security-pros-and-cons
Trump Hotel Chicago
https://www.trumphotels.com/chicago
Terrace 16
https://www.trumphotels.com/chicago/dining/fine-dining-chicago
Willis Tower
https://www.willistower.com/
Gino’s East
https://www.ginoseast.com/
Navy Pier
https://navypier.org/
Offshore Rooftop
https://www.offshorerooftop.com/
Chicago Cubs Wrigley Field
https://www.mlb.com/cubs/ballpark
Instagram of Driver/Comedian, Ruslan: @ruslan.hafiz
Prime Provisions
https://www.primeandprovisions.com/
Blue Chicago
https://www.bluechicago.com/
Yolk
https://eatyolk.com/
Museum of Science + Industry
https://www.msichicago.org/
Many of us are familiar with how a water wheel works. A constant stream of running water keeps the wheel turning so it can do the work it’s supposed to accomplish (whether turning millstones to grind grain in the 19th century or turning turbines to create hydroelectricity in today’s world). If the stream of water stops running, the wheel stops turning. So, how does a water wheel relate to retirement planning? We’ll tell you how in today’s episode.
As always, we’ll kick off the show with some getting-to-know-Matt and Sam questions and share some great quotes of the week relating to retirement planning. This week, we’ll also discuss one of our retirement manual series, The Retirement Playbook: Lessons From The Retirement All-Stars.
For this week’s mailbag question, Lenny from Omaha asks whether it would be advisable to withdraw approximately $90,000 from his IRA to purchase a townhouse for rental income. For this week’s Retirement Ride Along segment, Matt and Sam talk about their recent trip to Parkville, Missouri.
Here’s some of what we discuss in this episode:
- Get-to-know-you questions: The best thing about being an adult, closet doors, and more. (5:06)
- Quote of the week from Ben Franklin and Jim Rohn (22:48)
- Lessons From the Retirement All-Stars (24:37)
- Main topic: Understanding Retirement Through the Water Wheel (30:20)
- Mailbag: “Would it be a bad idea to withdraw approximately $90,000 from my IRA to purchase a townhouse for rental income?” (43:10)
- Retirement Ride Along: An afternoon in the beautiful Parkville, Missouri (52:28)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
The National Golf Club:
https://www.invitedclubs.com/clubs/the-national-golf-club
The Craic:
https://craiconmain.com/
March Madness is upon us, and as you’re keeping an eye on your bracket and watching the Final Four this weekend, there are a few retirement planning lessons that you can learn along the way… Stay tuned as we take some March Madness terms any apply them to the financial planning world in today’s show.
As usual, we have some fun getting-to-know-you questions lined up for you. Then, we have a fantastic quote of the week to share by Ken Poirot. We’ll also spend some time looking at a MarketWatch article about the increasing retirement savings target in the United States.
For this week’s mailbag question, Darrell from San Antonio asks if it would be better to keep working and receive a pension or retire now with a severance package and pension buyout. For this week’s Retirement Ride Along segment, we’re sharing some of our favorite spots in Copeland, Kansas.
Here’s some of what we discuss in this episode:
- Get-to-know-you questions: Getting ready in the morning, unusual foods, fashion trends (7:31)
- Quote of the week from Ken Poirot (24:28)
- MarketWatch Article: How Much Will You Need To Retire? America’s Magic Number Surges to $1.46 Million (25:30)
- Main topic: Retirement Bracketology (35:45)
- Mailbag: Should I keep working 5-6 years and receive a pension or retire now and accept a severance package and pension buyout? (46:08)
- Retirement Ride Along: Going back to Matt’s hometown (51:44)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
MarketWatch Article:
https://www.marketwatch.com/amp/story/how-much-will-you-need-to-retire-americas-magic-number-surges-to-1-46-million-cbbfe7f4
The sister’s boutique
https://www.facebook.com/groups/thesistersboutique143/
Copeland Café
https://www.facebook.com/profile.php?id=100057264107213
Goodtimes Grill
https://www.facebook.com/p/Goodtimes-Grill-100057637951397/
Are you planning for your retirement with the confidence that you're making all the right moves? In today's episode, we'll unveil the crucial income planning mistakes that could jeopardize your retirement and show you how to craft a financial plan that's built to last decades, not just years. Tune in to ensure your retirement strategy is foolproof against common pitfalls and ready to secure your financial future.
After a brief hiatus due to Matt being sick, we are excited to be back! We’ll kick off this episode with some excellent getting-to-know-you questions before jumping into our quotes of the week. For this week’s mailbag question, Annie asks whether it's better to take an extra $20,000 out of her IRA or to take out a home equity loan to cover the cost of putting in a screened-in porch.
For this week’s Retirement Ride Along segment, we chat about our recent trip to Sonoma and Napa Valley in California.
Here’s some of what we discuss in this episode:
- Catching up after a brief hiatus (1:36)
- Get-to-know-you questions: Watching movies, favorite Halloween costume, favorite grade in school (13:02)
- Quote of the week: Proverbs and Abraham Lincoln (27:36)
- Main topic: Top 5 income planning mistakes that could jeopardize your retirement (29:04)
- Mailbag: “I want to put in a screened-in porch, but the only way I could pay for it would either be taking an extra 20,000 out of my IRA this year or taking out a home equity loan to cover it. Which is better?” (41:22)
- Retirement Ride Along: Visting the wine country of America (47:06)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
Fairmont Sonoma Mission Inn & Spa
https://www.fairmont.com/sonoma/
Highway 12 Vineyards and Winery
https://www.highway12winery.com/
Zina Hyde Cunningham
https://www.zinawinery.com/
Viansa
https://www.viansa.com/
Benziger Family Winery
https://www.benziger.com/
The Donum Estate
https://www.thedonumestate.com/
Ram’s Gate Winery
https://ramsgatewinery.com/
El Dorado Hotel & Kitchen
https://eldoradosonoma.com/
Tammy the Private Driver
Email: tammyleonis@gmail.com
Vineyard 29
https://vineyard29.com/
Vineyard Seven and Eight
https://www.vineyard7and8.com/
Folklore
https://folklore-napa.com/
Vermeil Wines
https://www.vermeilwines.com/
Blue Note Jazz
https://www.bluenotejazz.com/napa/
Demola the Violinist
https://www.demolatheviolinist.com/
LaToque
https://latoque.com/
Promontory
https://www.promontory.wine/
Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning. Let’s talk about why on today’s episode.
We have three fun getting-to-know-you questions to kick off this week’s show before sharing our quotes of the week. For this week’s mailbag question, Rose from Michigan asks how to stop getting stuck in a cycle of indecision when it comes to financial planning. For this week’s Retirement Ride Along segment, we share more about our trip to Rochester, Minnesota over Christmas.
Here’s some of what we discuss in this episode:
- Get-to-know-you questions: Products we can’t live without, favorite snack at the movies, fictional characters (3:57)
- Quote of the week from Ken Poirot (15:34)
- Main topic: Retirement planning is harder than it used to be (19:17)
- Mailbag: “Every time I need to make a financial decision, I just end up talking myself in circles. How do I stop talking in a circle and never making a decision?” (37:29)
- Retirement Ride Along: A Christmas trip to Rochester, Minnesota (43:41)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
Hotel Fort Des Moines
https://www.hotelfortdesmoines.com/
Hilton Rochester Mayo Clinic Area
https://www.hilton.com/en/hotels/rstmahh-hilton-rochester-mayo-clinic-area/
Sugar Factory Express
https://www.mallofamerica.com/directory/sugar-factory-express
FlyOver America
https://www.mallofamerica.com/directory/flyover-america
Hollandberry Pannekoeken
https://www.hollandberrypannekoeken.com/
Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit when you should really consider the delayed rewards…
We’re excited to be back with you as we kick off the 2024 season of the podcast! As usual, we’ll answer some fun getting-to-know-you questions and share a few great quotes to start the show. Along with our discussion on delayed gratification in financial planning, we’ll also take a look at an interesting article from Barron’s, titled, “Americans’ Retirement Thinking Is Stuck In The Past.”
For this week’s mailbag question, Howard from Vermont asks if he should start taking Social Security earlier than planned because of an unexpected health diagnosis. For this week’s Retirement Ride Along segment, we’ll talk about the trip to New York that Matt surprised Sam with for New Year’s Eve.
Here’s some of what we discuss in this episode:
- Reflecting on the last few months and traveling over the holidays (4:24)
- Get-to-know-you questions: Small things, time travel, favorite ages, and more! (7:45)
- Quotes of the week from John Jacob Astor and Chris Brogan (21:35)
- Barron Article: “Americans’ Retirement Thinking Is Stuck In The Past. How To Fix It.” (23:20)
- Main topic: The Power of Delayed Gratification (34:34)
- Mailbag: “I just received a medical diagnosis that will almost certainly shorten my life. I had planned to wait until 70 to start taking Social Security, but now I think I should start it now. Do you agree?” (49:40)
- Retirement Ride Along: A surprise trip to New York for New Year’s Eve (54:38)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
Barron’s Article
https://www.barrons.com/articles/retirement-savings-social-security-pensions-cd9d916d
Robert NYC
https://robertnyc.com/
Superfine Restaurant
https://www.superfine.nyc/
Sparks Steak House
https://sparkssteakhouse.com/
Blue Note New York
https://www.bluenotejazz.com/nyc/
“Learn from the mistakes of others. You can’t live long enough to make them all yourself.” – Eleanor Roosevelt... Ever wish you could foresee financial missteps before they happen? In today’s episode, explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you.
We kick off this episode with some fun getting to know you questions. Then, we’ll share a great quote of the week by Jim Rohn. We also dive into a fantastic MarketWatch article about the current Social Security crisis.
For this week’s mailbag question, Jennifer from Scottsdale, Arizona asks if it’s a good idea to invest the leftover cash from a home sale and take on a new mortgage. For this week’s Retirement Ride Along segment, Matt and Sam talk about their six-day trip to Las Vegas.
Here’s some of what we discuss in this episode:
- Christmas shopping and a $13 coffee (9:45)
- Get-to-know-you questions: Gardening, weird places to sleep, hitting snooze (15:58)
- Quote of the week from Jim Rohn (23:20)
- MarketWatch Article: The Social Security crisis is a bipartisan outrage — and it’s way worse than Lehman Brothers (24:10)
- Money mistakes you’ll regret and how to avoid them (39:17)
- Mailbag: "We're planning to downsize within the next year. When interest rates were lower, we were thinking of getting a mortgage and investing the leftover cash from our current home. Is that strategy no longer recommended?" (50:58)
- Retirement Ride Along: Matt and Sam’s six-day trip to Vegas (56:51)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Links From Today’s Show:
MarketWatch Article
https://www.marketwatch.com/story/the-social-security-crisis-is-a-bipartisan-outrage-and-its-way-worse-than-lehman-brothers-e18ee73e#:~:text=This%20is%20a%20massive%2C%20bipartisan,avoided%2C%20and%20should%20have%20been.
TAO Asian Bistro
https://taogroup.com/venues/tao-asian-bistro-las-vegas/
CUT by Wolfgang Puck
https://wolfgangpuck.com/restaurants/cut-las-vegas/
Delmonico Steakhouse
https://emerilsrestaurants.com/delmonico-steakhouse/
Prime Las Vegas
https://bellagio.mgmresorts.com/en/restaurants/prime-steakhouse.html
Adrenaline Mountain
https://www.adrenalinemountain.com/
The X Pot
https://thexpot.com/
Sphere
https://www.thespherevegas.com/
We’re so glad to be back after a brief break. We’ll fill you in on where we’ve been and much more in today’s show. If you’re ready for an adventure, today’s episode is for you! Listen in as we compare retirement planning to climbing a mountain. We talk about preparing wisely, tackling the ups and downs, and even planning your way back down.
We've also put together the ultimate retirement planning playlist for you- featuring timeless lyrics that reflect various stages of the planning journey. From setting financial goals to finding purpose in your golden years, this playlist sets the stage for important discussions about crafting your dream retirement.
As always, we’ll kick off the episode with some getting to know you questions before sharing a great quote of the week. For this week’s mailbag question, Meredith from Kearney, Nebraska asks if it’s normal for advisors to be vague about their plans for managing one’s money until they have all the necessary financial information.
For this week’s Retirement Ride Along segment, we’ll chat about our recent trip to New York City.
Here’s some of what we discuss in this episode:
- Where we’ve been the last month (5:00)
- Get-to-know-you questions: The funniest person you know, becoming magically famous, and more (13:08)
- Quote of the week from Ben Franklin (29:15)
- How to successfully climb the retirement planning mountain (35:48)
- The ultimate retirement planning mixtape (46:28)
- Mailbag: “I've interviewed a few different financial advisors, and they're all very cryptic about what they're actually going to do with my money. Is this normal? (1:00:06)
- Retirement Ride Along: Matt and Sam’s recent trip to New York City (1:06:48)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today’s Show:
Trump Hotel:
https://www.trumphotels.com/
Daniel:
https://www.danielnyc.com/
Birdland Jazz Club:
https://www.birdlandjazz.com/
One If By Land Two If By Sea:
https://oneifbyland.com/
Retirement is a unique journey for each of us. The thought that there's a one-size-fits-all solution is a myth, but what if we told you there are certain universal truths that can guide every retiree? Dive deep in this episode, where we juxtapose the individuality of retirement plans with the foundational principles that remain consistent across the board.
We are excited to be joined by Chris Lester, ChFC®, RICP®, CCPS®, NSSA, CLTC®, president of Professional Planning Services in New Jersey. He has over 30 years of experience in the financial industry and we want to learn more about what he likes to provide to his clients on helping them stay retired. Chris will also take part in the Getting to Know questions, sound off on our quotes of the week, weigh in on the universal truths and answer some questions with us.
For this week’s mailbag question, Grace from Tempe asks about the options for helping contribute to a college fund for grandchildren. For this week’s Retirement Ride Along segment, Chris will share some of the great things New Jersey has to offer retirees.
Here's what we'll discuss on today's show:
- Chris shares his financial background and what they focus on at Professional Planning Services. (4:54)
- Get-to-know-you questions: Getting ready in the morning, favorite family recipe, and 3 items for a deserted island. (8:39)
- Quotes of the week from Zig Ziglar and an unknown source. (27:43)
- MarketWatch Article: What climate change? The top 5 retirement cities all have hot weather (33:03)
- The 5 Universal Retirement Truths (44:08)
- Mailbag: I’d like to start putting money into a college fund for my grandkids. Should I set up a 529 plan for them or just invest on my own and give them the money when they go to school?(1:10:30)
- Retirement Ride Along: Exploring New Jersey and what it has to offers for retirees. (1:15:37)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Get in touch with Chris!
Email: chris@professionalplanningservices.com
732.302.1810
https://professionalplanningservices.com/
Links From Today's Show:
MarketWatch Article:
https://www.marketwatch.com/story/the-best-city-for-retirement-offers-bingo-fishing-and-low-crime-rate-33dd8a9d
Von Thun Farms:
https://vonthunfarms.com/
Holland Ridge Farms:
https://www.hollandridgefarms.com/
In the complex world of retirement planning, there are countless pitfalls one could fall into. In this episode, we've distilled it down to what we believe are the top 5 mistakes to watch out for. Avoiding these crucial missteps can have a significant impact on the success of your retirement plan. Join us as we delve into these key issues and learn how to navigate them effectively when it's your turn to plan for retirement.
We are excited to be joined by Chad Castle, RICP®, and Jessica Burch, MBA, co-founders of Winnow Wealth, for this week’s episode. We ask them some get-to-know-you questions before sharing a few quotes of the week from George Lorimer and R.C. Sherriff. We also discuss a MarketWatch article on the potentially stormy future of US stocks coming in September.
For this week’s mailbag question, Gabe from Houston asks if he should start withdrawing from his 401k, IRA, Roth, or mutual fund first. For this week’s Retirement Ride Along segment, Chad and Jessica share some of their favorite spots in the Dallas, Waco, and Fort Worth area.
Here's what we'll discuss on today's show:
- Get-to-know-you questions: Favorite phone apps, most beautiful place you’ve ever vistied, bingeable TV shows. (5:46)
- Chad and Jessica share more about their background and Winnow Wealth. (19:33)
- MarketWatch Article: A Stormy September For US Stocks May Lie Ahead… (41:29)
- 5 biggest money mistakes in retirement planning. (52:25)
- Mailbag: I have our retirement savings spread out between my 401k to IRAs, a Roth, and several mutual funds purchased with after-tax dollars. Which account should I start withdrawing from first? (1:21:47)
- Retirement Ride Along: Exploring Dallas, Waco, and Fort Worth with Jessica and Chad. (1:27:25)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Get in touch with Chad and Jessica!
Email: Hello@winnowwealth
https://calendly.com/chadcastle/income-for-life-15-minute-call?month=2023-08
https://winnowwealth.com/
Links From Today's Show:
MarketWatch Article:
https://www.marketwatch.com/story/what-history-says-about-stock-market-in-september-after-ai-driven-rally-screeches-to-a-halt-in-august-bfae8f62
Ol’ South Pancake House
https://www.olsouthpancakehouse.com/
George’s Restaurant
https://georgesrestaurant.com/
The Tower Club
https://www.invitedclubs.com/clubs/tower-club-dallas
The Lonesome Dove
https://lonesomedovefortworth.com/
We’ve got a fun one for you today! Tune in as we expose some symptoms that might need a financial prescription. Whether you’re experiencing dizziness from the ups and downs of the stock market or high blood pressure from anger about bad financial advice, we’ll share how guaranteed income can make a difference in your financial plan. After that, we’ll extract some valuable financial lessons from the one and only, Mick Jagger.
Matt and Sam start off with our regularly scheduled get-to-know-you questions before sharing two fun quotes for this week’s show. They then discuss a MarketWatch article about the rising cost of healthcare in the US. For this week’s mailbag question, Karen from Boston asks what Matt and Sam think about robo-advisors. For this week’s Retirement Ride Along segment, Matt and Sam are going back to their roots in Wichita, Kansas.
Here's what we'll discuss on today's show:
- Get-to-know-you questions: How many shoes do you own? Are you related to anyone famous? And more! (5:35)
- MarketWatch Article: The Cost of Healthcare Is Out Of Control. (18:11)
- Financial Doctor: Ups and downs of the stock market, anxiety from the news, anger from bad financial advice, and more! (28:45)
- Main topic: Retirement planning with Mick Jagger. (42:27)
- Mailbag: “What’s your opinion on all the robo-advisor stuff?” (49:27)
- Retirement Ride Along: Going back to Wichita, Kansas. (55:40)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today's Show:
MarketWatch Article:
https://www.marketwatch.com/story/the-cost-of-healthcare-is-out-of-control-hurting-programs-for-the-elderly-and-the-vulnerable-a9568de6
The Ambassador Hotel
https://www.ambassadorwichitaks.com/
Dockum Resturant
https://www.dockum.com/
Lava and Tonic
https://lavaandtonic.com/
Scotch and Sirlon
https://www.scotchandsirloin.net/
Today we’re diving into the crucial role of income analysis in retirement planning. We'll uncover the secrets of guaranteed income versus the uncertain stuff and shed light on the consequences of retiring without a clear income plan. Don't worry if you're feeling lost - we've got your back with practical solutions and expert guidance. Tune in and take charge of your retirement cash flow!
Matt and Sam kick off this episode with some fun get-to-know-you questions before sharing two great quotes this week from Ryan Kiyosaki and Frank Clark. Then, they take a look at a Kiplinger article that talks about building your financial house from the ground up. Matt and Sam will also reflect on the importance of having a clear picture of your retirement income during the planning process and introduce an upcoming podcast segment based on the new Income For Life Affiliate Program.
For this week’s mailbag question, Vicki from Houston asks how to tell if a financial advisor is qualified or not. For this week’s Retirement Ride Along segment, Matt and Sam talk about the best place to eat steak in Kansas City.
Here's what we'll discuss on today's show:
- Get-to-know-you questions: Favorite radio stations, last movie you went to see, what makes you laugh the most. (4:55)
- Kiplinger Article: How To Build Your Financial House From The Ground Up. (15:44)
- Main topic: What could happen if you don’t have a clear picture of your retirement income? (24:26)
- Main topic: Should you have income from a variety of sources? (26:19)
- Main topic: The paycheck vs. “playcheck” concept. (33:12)
- The Income For Life Affiliate Program. (36:56)
- Mailbag: "How can I tell if a financial advisor is qualified or not?" (41:11)
- Retirement Ride Along: The best place for steak in Kansas City. (50:05)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today's Show:
Kiplinger Article:
https://www.kiplinger.com/personal-finance/how-to-build-your-financial-house-from-the-foundation-up
Stock Hill Steakhouse (Ask for Brett)
https://www.stockhillkc.com/
In today’s episode, we’re tackling the concept of Financial Independence. While the American colonists fought for freedom from British rule, we’re here to discuss what you’re striving to be independent from in your retirement. We’ll unveil the common foes you’ll face on the journey. And good news, no muskets required for these battles!
Matt and Sam kick off this episode with some fun get-to-know-you questions before sharing this week’s quote of the week by Keith Cunningham. Then, they’ll take a look at two articles that discuss the recent downgrade of the United States’ credit rating. Matt and Sam also share their thoughts on controlling greed, fear, and other emotions in retirement planning.
For this week’s mailbag question, Sherry from Pittsburg asks if she should exit the market after narrowly avoiding recent drops. For this week’s Retirement Ride Along segment, Matt and Sam talk about their trip to Eureka Springs, Arkansas.
Here's what we'll discuss on today's show:
- Get-to-know-you questions: Ideal date night, lessons learned during the pandemic, best place ever visited, and more. (7:59)
- MarketWatch Article: "The U.S. Has Downgraded. How Much Does It Matter To Markets?" (23:46)
- Controlling greed, fear, and other emotions in planning. (30:57)
- Main topic: Winning your financial independence from the government, your family, debt, and more. (40:42)
- Mailbag: “I almost got out of the market before it dropped down recently. Now I'm back to where I was before. Should I get out now?” (56:32)
- Retirement Ride Along: Exploring Eureka Springs, Arkansas. (1:00:08)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today's Show:
Retirement Ride-Along Photos:
https://www.facebook.com/WhereSafetyMatters/photos_albums
MarketWatch Article:
https://www.marketwatch.com/story/the-u-s-is-downgraded-how-much-does-it-matter-to-markets-and-the-surprise-asset-that-may-benefit-55edfa06
The Angel At Rose Hall
https://www.the-angel.com/
Grotto Grill & Wine Cave
https://www.grottoeureka.com/
Cat House Lounge
https://cathouselounge.com/
Thorncrown Chapel
https://thorncrown.com/
Cosmic Cavern
https://www.cosmiccavern.com/
Are you nearing “retirement age?" If so, let’s explore that pivotal question you’ll soon face: Should you retire or continue working? We’ll unravel the intricacies of this decision, addressing both financial and emotional aspects, and help you find out if you’re truly ready to retire.
Matt and Sam kick off this episode by discussing their favorite childhood TV shows, the best songs ever written, their first celebrity crushes, and more. Then, they jump into two interesting retirement articles. The first is a survey from CNBC, which suggests that Americans need $233,000 annually and nearly $1.3 million to feel comfortable in retirement. Matt and Sam share their thoughts on those numbers before diving into a MarketWatch article that discusses the challenges faced by solo agers in retirement.
For this week’s mailbag question, Charlie from Tampa asks how much is too much to spend on travel in retirement. For this week’s Retirement Ride Along segment, Matt and Sam talk about some of their favorite spots for jazz and brunch in Kansas City.
Here's what we'll discuss on today's show:
- Get-to-know-you questions: Favorite childhood TV show, best song ever written, winning a medal in the Olympics, first celebrity crush. (6:11)
- CNBC Article: “To Feel Comfortable, Americans Think They Need A $233,000 Annual Salary And Nearly $1.3 Million For Retirement.” (22:09)
- MarketWatch Article: "How To Thrive As A Solo Ager In Retirement." (27:01)
- Main topic: Should you retire or continue working? (33:05)
- Mailbag: “How much is a reasonable amount to spend on travel in retirement?” (42:20)
- Retirement Ride Along: Exploring Kansas City. (46:23)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today's Show:
CNBC Article:
https://www.cnbc.com/2023/07/24/americans-have-big-number-goals-for-salary-retirement.html
MarketWatch Article:
https://www.marketwatch.com/story/its-important-to-figure-out-who-you-can-count-on-how-to-thrive-as-a-solo-ager-in-retirement-51d295cf?mod=home-page
The American Jaxx Museum:
https://www.americanjazzmuseum.org/
The Phoenix:
https://www.thephoenixkc.com/
Green Lady Lounge:
https://greenladylounge.com/
Lonnie’s Reno Club:
https://www.lonniesrenoclub.com/
Are you preparing for retirement but feeling confident that you have covered all the expenses? Well, think again... It turns out that many retirees overlook some crucial costs that can leave them financially vulnerable. In this episode, we explore the retirement expenses that most people tend to forget, including skyrocketing medical bills, unexpected travel costs, and taxes. We also look at the Northwestern Mutual 2023 Planning and Progress study, which asked participants how much they thought they’d need to retire, how long they thought they’d need to work before retirement and more.
As usual, we’ll jumpstart this episode with some fun get-to-know-you questions. Then we’ll share a great quote of the week by Christopher Rice. For this week’s mailbag question, Laura from Omaha asks if her account is too small for her advisor to worry about. To wrap up this episode, Sam talks about her life-changing experience at Durrie Vision, where she recently got LASIK surgery.
Here's what we'll discuss on today's show:
- Get-to-know-you questions: Sam and Matt’s last meal on earth, go-to karaoke songs, and more. (4:23)
- Main topic: Not planning for medical expenses in retirement. (18:29)
- Main topic: Parental or child expenses. (22:13)
- Main topic: The cost of maintenance and repairs. (27:38)
- Breaking down the Northwestern Mutual 2023 Planning and Progress study. (29:07)
- Mailbag: I like my advisor, but he’s hard to get in touch with. Is my account too small for him to worry about? (58:38)
- Retirement Ride Along: Sam’s LASIK surgery at Durrie Vision. (1:04:55)
Links From Today's Show:
Link to Study:
https://news.northwesternmutual.com/planning-and-progress-study-2023
Durrie Vision:
https://durrievision.com/
913- 491-3330
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Money can't buy love, but it can certainly start some spicy debates between you and your better half. In this episode, we're digging into the financial face-offs that make Monopoly fights look like child's play and exploring some money minefields that can test even the most solid relationships. Listen in as we explore how to resolve some of the most common financial sources of tension between couples.
We kick off the episode by answering some fun get-to-know-you questions and sharing a quote of the week by Robert Kiyosaki. We also look at a MarketWatch article that discusses the idea of “periodic retirements” or intentional work breaks instead of a traditional retirement. For this week’s mailbag question, Bruce asks if he should stop contributing to his 401(k) because he fears a recession. We’ll wrap up this episode by talking about our recent trip to Detroit for the Rocket Mortgage Classic.
Here's what we'll discuss on today's show:
- Get-to-know-you questions: Random subjects you know a lot about, high school fashion trends + why would you hypothetically be arrested? (6:24)
- MarketWatch Article: What is “periodic retirement” and how might it benefit those who don’t know what they want in retirement? (17:42)
- Main topic: Differing views on risk tolerance and investments. (24:19)
- Main topic: What is your vision for an ideal retirement lifestyle? (28:35)
- Main topic: Disagreeing on financial management. (33:20)
- Mailbag: I fear a recession… should I stop contributing to my 401(k)? (35:12)
- Retirement Ride Along: Matt and Sam’s trip to Detroit. (37:46)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today's Show:
MarketWatch Article:
https://www.marketwatch.com/story/retirement-is-so-traditional-try-periodic-retirement-to-figure-out-whats-next-81a9f572
The Statler (Ask for Kayla):
https://statlerdetroit.com/
Prime and Proper:
https://primeandproperdetroit.com/
The Whitney (Ask for Reagan):
https://www.thewhitney.com/
The Shinola:
https://www.shinolahotel.com/
Welcome back to The Income For Life Show! Yes, you read that title right. In today's episode, we'll explore how the world of finance can be illuminated by the insightful sayings of our grandmothers. Many of us have fond memories of our grandparents’ amusing expressions, so we'll delve into five entertaining examples and uncover the nuggets of financial wisdom they hold.
We kick off the episode by answering some fun get-to-know-you questions and sharing a quote of the week by Charles Barkley. We also look at a MarketWatch article that talks about planning a fun a memorable trip with your grandkids and share the article's tips with you. This week’s retirement ride-along segment features our trip to Phoenix, Arizona, where we went to visit Matt’s daughter. Then, we’ll dive into the mailbag and answer some listener questions!
Here's what we'll discuss on today's show:
- Get to know you questions: pet peeves, new year’s resolutions, enjoying the winter months, and more. (6:45)
- MarketWatch Article: Tips for planning a fun and memorable trip with your grandkids. (18:25)
- Grandma’s wisdom: When it rains it pours. (31:55)
- Grandma’s wisdom: A bad apple spoils the whole barrel. (33:42)
- Grandma’s wisdom: If your friends jump off a bridge would you too? (36:09)
- Retirement Ride-Along: Matt and Sam’s trip to Phoenix, Arizona. (38:03)
- Mailbag segment: Living off an annuity or moving it into a different investment account. (1:06:38)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today's Show:
MarketWatch Article:
https://www.marketwatch.com/story/how-to-plan-a-fun-and-memorable-trip-with-your-grandkids-f506816c
Durant’s Steakhouse:
http://durantsaz.com/
Century Grand Bar:
https://centurygrandphx.com/
Quiessence at the Farm:
https://qatthefarm.com/
OdySea Aquarium:
https://www.odyseaaquarium.com/
Welcome back to The Income For Life Show! From time to time, we like to look at issues faced by people in other professions outside of the financial world and see what kind of retirement planning lessons we can learn from them. In today’s episode, we’re seeing what we can learn from teachers and the issues they face. Let’s look at how homework, standardized testing, and customized learning approaches relate to financial planning.
We kick off the episode by answering some fun get-to-know-you questions and share a quote of the week by Bill Murray. We also look at a recent MarketWatch article that focuses on the impact that financial jargon has on retirement planning fear. This week’s retirement ride-along segment features our trip to San Antonio, Texas this past December. Stay tuned to hear about its stunning riverwalk and our incredible stay at the Hotel Emma!
Here's what we'll discuss on today's show:
- The charity golf tournament Sam and Matt participated in last weekend. (2:59)
- Get-to-know-you question: Personal maid or personal chef? + Worst haircuts, bad habits and more! (8:44)
- MarketWatch Article: Financial literacy is a huge roadblock in sufficient retirement planning. (18:50)
- Everybody hates homework, but you still must be involved in the financial planning process. (24:15)
- Understanding the pros and cons of your investments. (29:50)
- Age-appropriate instruction is important in retirement planning- as you age, your planning approach will change. (33:04)
- Retirement Ride-Along: Matt and Sam’s trip to San Antonio, Texas. (40:41)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today's Show:
MarketWatch Article:
https://www.marketwatch.com/story/financial-jargon-is-scaring-people-into-not-saving-for-retirement-ee169a6e
Prost Haus:
https://www.littlerheinprosthaus.com/
Hotel Emma:
https://thehotelemma.com/
Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you're eligible is the best decision for your financial future? Unfortunately, there are a lot of Social Security myths out there. Join us today as we set the record straight, debunk common myths about Social Security and answer the questions you've been curious about.
Listen in as Matt and Sam answer some get-to-know-you questions and share a quote of the week by Woody Allen. We will also look at a recent MarketWatch article that discusses a study revealing that older individuals are more fearful of running out of money in retirement than they are of death. For this week’s retirement ride-along segment, Matt and Sam will talk about the recent trip they took to Kansas City. Stay tuned to hear about this fun adventure filled with charcuterie boards, wine bars, and restaurants galore!
Here's what we'll discuss on today's show:
- Get-to-know-you: What’s the most flattering comment you’ve ever received? (5:25)
- MarketWatch article: The 8 greatest retirement fears. (23:55)
- Myth: The Social Security Administration will help you decide the best time to take your benefit. (33:45)
- Myth: There won’t be any Social Security benefits left when I retire. (36:43)
- Myth: You can’t work and receive Social Security benefits at the same time. (40:24)
- Matt and Sam reflect on their recent trip to Kansas City. (47:00)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today's Show:
Retirement Ride-Along Photos: https://www.facebook.com/WhereSafetyMatters/photos_albums
MarketWatch Article:
https://www.marketwatch.com/story/older-people-fear-this-more-than-death-2016-07-18
The Better Cheddar:
http://www.thebettercheddar.com/
McCormick and Schmicks:
https://www.mccormickandschmicks.com/
Louie's Wine Dive:
https://www.louieswinedive.com/
Get ready to roll up your sleeves and dive into the gritty side of personal finance. In this episode, we reveal how everyday household tasks can serve as reminders of the principles that lead to financial success. From taking out the trash in your investment portfolio to cleaning out the fridge of outdated financial strategies, we'll explore how to declutter your financial life.
Also, stay tuned as Matt and Sam answer some get-to-know-you questions and share a quote of the week by Joe Moore. We’ll then look at a recent MarketWatch article that discusses a clause in the new debt ceiling deal that could mean bad news for Social Security. For this week’s retirement ride-along segment, Matt and Sam will talk about the trip they took to Hermann, Missouri on Memorial Day weekend.
Here's what we'll discuss on today's show:
- Sam and Matt answer some get-to-know-you questions. (2:56)
- The MarketWatch article that talks about Americans cheating the tax system and how this is potentially impacting the Social Security system. (9:55)
- Taking out the trash- getting rid of investment “duds.” (18:34)
- Cleaning out the fridge- getting rid of strategies that have overstayed their welcome. (20:51)
- Periodic maintenance- updating your beneficiaries, assessing excess cash, and thinking about life insurance coverage. (24:35)
- Retirement Ride-Along: Sam and Matt’s trip to Hermann, Missouri. (34:57)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today's Show:
MarketWatch Article:
https://www.marketwatch.com/story/the-debt-ceiling-deal-this-clause-is-bad-for-social-security-a0a9e429?mod=brett-arends
Retirement Ride-Along Photos:
https://www.facebook.com/WhereSafetyMatters/photos_albums
The Caption Wohlt Inn:
https://www.captainwohltinn.com
Adam Puchta Winery:
www.adampuchtawine.com
Stone Hill Winery:
www.stonehillwinery.com
The Inn at Hermannhof:
www.innathermannhof.com
Stephan Jones Music:
www.facebook.com/iamstephenjonesmusic
Hermann Trolley:
www.hermanntrolley.com
Doxie Slush:
www.doxieslush.com
Copper Mule Distillery:
www.coppermule.com
Are you ready to take control of your finances during life's most pivotal moments? In this episode, we dive into the complex world of financial decision-making during key life events. Whether you're experiencing the excitement of marriage, the joy of welcoming a new child, or facing the challenges of divorce or the loss of a loved one, we'll provide practical tips and guidance to help you make informed decisions and maintain financial stability in this episode + much more!
We’ll kick off this episode by learning a little more about Sam. We’ll then take another look at the U.S. debt ceiling before diving into the significant financial choices that arise during eight of life’s most pivotal events. Finally, we’ll discuss a recent article about a family who successfully appealed a Medicare claim before diving into the retirement ride-along segment. This week, Matt and Sam will talk about some local adventures that they have enjoyed in downtown Kansas City.
Here's what we'll discuss on today's show:
- Some more “get to know you” questions for Sam. (5:47)
- Taking another look at the U.S. debt ceiling. (13:20)
- Key financial decisions during marriage. (22:12)
- Key financial decisions during divorce. (25:53)
- Key financial decisions after the loss of a spouse. (30:54)
- Key financial decisions in retirement. (34:41)
- Looking at the Market Watch article about Medicare. (42:28)
- Retirement ride-along: Lula Southern Cookhouse (46:03)
- Retirement ride-along: Anton’s Steakhouse (56:44)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today's Show:
U.S. Debt Clock: https://usdebtclock.org/
Retirement Ride-Along Photos: https://www.facebook.com/WhereSafetyMatters/photos_albums
Market Watch Article:
https://www.marketwatch.com/story/i-won-2-medicare-discharge-appeals-by-working-the-system-heres-how-you-can-too-6ba30bab
Lula Southern Kitchen:
https://www.lulakc.com/
Anton’s Steakhouse:
https://antonskc.com/
In the complex world of retirement planning, there are countless pitfalls one could fall into. In this episode, we've distilled it down to what we believe are the top 5 mistakes to watch out for. Avoiding these crucial missteps can have a significant impact on the success of your retirement plan. So, join us as we delve into these key issues and learn how to navigate them effectively when it's your turn to plan for retirement.
We’ll kick off this episode by discussing the recent buzz on the U.S. debt ceiling. Then, we’ll dive into the risk of taking investment advice from family and friends, ignoring long-term care costs, not adjusting your investment strategy approaching retirement, and more. For our ride-along segment in this episode, we’ll share all about our amazing trip to Italy!
Here's what we'll discuss on today's show:
- How might the U.S. debt ceiling impact me? (3:33)
- Taking investing advice from friends and family instead of a financial professional. (14:14)
- Underestimating the expenses of long-term care costs. (21:27)
- Poor communication between spouses and money. (32:05)
- Retirement ride-along segment: Sam and Matt reflect on their recent trip to Italy. (36:34)
- Some tours that Sam and Matt enjoyed during their trip. (58:15)
Want to contact us?
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement:
Call (888) 228-8814 or email info@incomeforlife.org
Links From Today's Show:
U.S. Debt Clock: https://usdebtclock.org/
Retirement Ride-Along Photos: https://www.facebook.com/WhereSafetyMatters/photos_albums
Firenze Number Nine: https://firenzenumbernine.com/ (Tour with Ricardo)
The Duomo: https://www.visitflorence.com/florence-churches/duomo.html
Enoteca Pinchiorri: https://www.enotecapinchiorri.it/
Casa Emma Winery: https://casaemma.it/en/
Cinque Terre tour: https://truescany.com/ (Tour with Leo)
Podere Le Ripi: https://www.podereleripi.com/
Dario's Butcher Shop: https://www.dariocecchini.com/?lang=en
I Just Drive: https://www.ijustdrive.us/
Financial planning can seem daunting, leaving many people unsure of where to start or putting off the process altogether. But fear not! In today's episode, we're here to help you take that crucial first step toward preparing for retirement. We'll be walking you through our free manual, "Preparing for Retirement: Ways to Create Your Retirement Paycheck," which offers valuable insights and actionable tips for starting your planning journey.
During the show, we'll dive into the differences between required income and lifestyle income, as well as explore the three retirement income options available to you: the bank way, the Wallstreet way, and the insurance way. As part of our ride-along segment, we’ll chat about our experience at the breathtaking Big Cedar Lodge in Ridgeway, Missouri.
So, whether you're feeling unsure about where to begin, or you're simply looking for some helpful tips and tricks, this episode is not to be missed! Join us as we discuss the benefits of "the insurance way" for securing your financial future and take that first step toward achieving your retirement goals.
On today’s show, here’s some of what you’ll learn:
- What is required income and lifestyle income? (9:12)
- Retirement plans change the minute you leave your retirement party. (14:31)
- The first retirement income option: The bank way. (25:36)
- The second retirement income option: The Wallstreet way. (29:36)
- The third retirement income option: The insurance way. (36:09)
- Matt and Sam review their trip to Big Cedar Lodge. (42:37)
Contact:
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Send us your favorite travel stops: info@incomeforlife.org
Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org
Retirement Ride-Along Photos: https://www.facebook.com/media/set/?set=a.618142653664735&type=3
The Income For Life Show is back! We have lots of exciting news to share with you today. We are thrilled to continue bringing you retirement planning advice, while introducing guest speakers from all over the country in episodes moving forward. On our first episode back from the hiatus, we'll introduce you to our new co-host, Sam Thyfault. We'll learn about Sam's background, where she developed her work ethic, and her role on the show going forward.
We'll also introduce our new segment, The Retirement Ride Along, where Matt and Sam will share detailed tips and takeaways about their travel experiences. In the first installment, we'll detail our New Year NYC trip, our stay at the Trump International Hotel, dinner at Jean George, and more.
On today’s show, here’s some of what you’ll learn:
- How shows are going to flow moving forward. (2:48)
- Introducing our new co-host, Sam, and the fresh perspective she’ll bring to the show. (5:23)
- The vision for our newest segment: The Retirement Ride Along. (8:59)
- Sam shares her story. (12:14)
- Matt and Sam share the details of their recent trip to New York City. (34:19)
Contact:
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Send us your favorite travel stops: info@incomeforlife.org
Tyler Johnson joins us on this week's episode. Tyler is a Real Estate Consultant over at Berkshire Hathaway HomeServices. In this role, he guides his clients in the home buying, or selling process to make sure it's as seamless as possible. We talk to Tyler today about some of his experiences with the current real estate market and the importance of choosing the right realtor. Show Notes:
Tyler Johnson's Email: tyler@firstrealtorsks.com
Tyler Johnson's Phone Number: 785-383-8792
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
We invite Scott Souther on to today's podcast. Scott works for CEK Insurance and has an extensive background in retirement planning, insurance, and Medicaid planning. When coming up with a show idea we were inspired by Proverbs 16:18, which says “Pride goes before destruction, a haughty spirit before a fall.” Matt and Scott will talk about some of the ways that pride might manifest itself in your financial planning in the form of overconfidence. Show Notes:
Sequence Of Returns PDF: https://bit.ly/3uHJRmG
Scott Souther's Email: ssouther@cekinsurance.com
Scott Souther's Office Phone Number: 785-843-2772
Scott Souther's Cell Phone Number: 785-250-8102
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
Medicare is one of the most misunderstood retirement planning pieces. That's why we bring in a Medicare expert on today's show to clear up some confusion. Bob Evenson sits down with Matt to discuss how Medicare works, the different parts to this program, and answer an IFL mailbag question related to this topic. Show Notes:
Bob Evenson's Website: https://www.evensoninsurance.com/
Bob Evenson's Phone Number: 1-800-841-0560
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
If you’ve ever ridden the subway in London, you’ve probably seen the “Mind the Gap” signs warning you to be aware of the gap between the train door and the station platform. Let’s talk today about minding the gaps in retirement planning. We will also discuss what an out of tune retirement plan looks like and answer a great IFL mailbag question that came in.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
Many people ask what strategy they should utilize when putting money in their nest egg to work. Should they put in a lump sum, or take the longer term approach of dollar cost averaging? We will discuss the key factors in determining which strategy might be right for your retirement plan.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
The S&P has now doubled since it bottomed out in March of 2020. We discuss some factors that went into such a quick recovery and what this means for the future.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
We discuss how a customized retirement plan is king. We also discuss the 4 important retirement statistics worth understanding. Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
Fidelity conducts an annual study where they analyze retirement and financial expectations among couples who are either married, or in a long term relationship. Matt and Nick will take a look at this study today and discuss some of the findings, trends, and why you can never go wrong with communication. Show Notes:
Fidelity PDF - https://bit.ly/3BQ65WK
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
To write the Chinese word for “crisis,” you combine elements of two different Chinese characters. One character means “danger” while the other one means “opportunity.” Translated into English, it means “opportunity riding on a dangerous wind.” Let’s discuss how some of these crises might actually be opportunities, depending on your situation and perspective. We will also discuss some of the financial world's dirty secrets and take an IFL mailbag question.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
We discuss compounding, deferred interest - which is what we offer to clients. Ex-MLB baseball superstar Bobby Bonilla agreed to a deferred contract of 1.9 million dollar per year for 25 years - with a 5.9 million dollar original investment. That's a 30 million dollar payout from a 6 million dollar investment.
Show Notes:
Bobby Bonilla Article - https://bit.ly/3hcsepW
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
Fire extinguishers, airbags in your car, and smoke alarms in your house are all examples of things in life that don’t really seem to matter until they’re the only thing that matters. On that rare occasion when you need one of those items, you’ll either be very glad that you have one, or really regretting the fact that you don’t. Let’s talk about some of the things in the financial world that don’t matter until they do. We will also discuss the top 5 things to know about decululation adn be sure to stay until the end to hear us answer an IFL mailbag question.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
Some people in the financial world speak in code. It’s important for you to learn how to crack that code. Let’s look at a few examples of what you’ll hear someone say, but breakdown what they really meant.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
If you’re of the age that your mom and dad retired 20 or 30 years ago, the world was a much different place when they walked away from their paychecks. Let’s talk about how things are different now.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
We discuss how many are learning about their retirement through 'uncommon sense' and also how the Great Resignation is hitting the American workplace right now in a big way.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
What happens when the government makes the economy stand on it's own two feet? What will happen when the 'easy money' slows down and stops?
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
We discuss the rise of nursing home costs and how our plans can help pay for this - without underwriting, or extra cost to their retirement plan.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
On this daily dime, we discuss the four personality types of retirees when it deals with how they spend their money.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
We discuss the new US deficit and how it will affect our nation moving forward.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
On today's show, we discuss how ridiculous some Google searches for retirement planning can be and what red flags you should look out for. We also talk about the current Secure 2.0 Bill and the top 9 goals inside it.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
The recent bipartisan bill is set to increase RMD ages and also offer lifetime income plans due to the retirement crisis in America today. The government understands the crisis and is offering opportunities for retirees to take advantage of.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
On this daily dime, we discuss how the boomer generation that wants to downsize their home is causing a collision with the millennial generation that wants to purchase their first home. This current supply/demand chain is causing a violent condition in the housing market and needs to be addressed.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
Welcome into our first daily dime discussion! The goal of the daily dime is to have a quickly talk about various ideas and topics that are top of mind for us. Today our conversation is about how there seems to be a lack of fear in the stock market and why this can be a danger to your retirement portfolio.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
If we take a look at the world of medicine, we can learn some valuable lessons that can be applied to your financial life.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
We’ve surpassed the first 100 days of Joe Biden’s presidency and, so far, it has already provided plenty of fodder for discussion in the financial planning realm. Let’s look at some of the top issues of the past few months, how it impacts financial planning, and how conversations with clients about these issues are developing.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
Matt and Nick discuss 5 areas of your financial life where you might be flirting with disaster and don’t even know it. The guys will also answer an email question about investing in just one stock.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
With March Madness about to come to a close and the NBA Playoffs around the corner, basketball is still on the mind for some people. What can we learn about retirement planning by exploring some concepts in the game of basketball? We also discuss how the city you live in can have a drastic impact on your retirement plan.
Show Notes:
Get Your Guaranteed Annuity - https://apply.nfg.com/simpleannuity/index.html?a=SU5DTDE=
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
The “normal” investment world already seems crowded with endless possibilities of companies and ways to invest. Yet there’s a segment of the market classified as alternative investments that many people find intriguing. Could there ever be a place for alternative investments in your portfolio? We discuss the top alternative investment products and why we feel the risk may not be worth the reward for some of them.
Show Notes:
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
We often see people making certain assumptions about retirement that just aren’t correct. Matt and Nick explore some common assumptions that they see in their office.
Show Notes:
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
The financial industry has held many general rules of thumb throughout the years, but one of the most popular ones is the rule of 100. If you subtract 100 from your age, that's percentage of stocks you should have in your account. This may be a good place to start, but it's certainly not a financial plan. Matt and Nick discuss their thoughts on this rule of thumb and talk about the 3 strategies to help replace your paycheck.
Show Notes:
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
You probably heard all about GameStop stock and buzzwords like short squeeze, Reddit’s Wall Street Bets, and hedge funds the last week of January. But what really happened that had all of the financial media world stirred up and Alexandria Ocasio-Cortez and Donald Trump Jr. actually agreeing about something? We’ll seek to explain what happened and cover some lessons learned from the events.
Show Notes:
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
Matt and Nick discuss the five ways the super-rich think and how you can use these same concepts in their retirement.
Show Notes:
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
Is a Roth Conversion right for you? There are many different financial firms advertising this strategy right now, but it can be difficult to know this is truly something that will work well with your plan. We dive into how a conversion works, how taxes are paid, and the long-term effects of this process.
Show Notes:
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
A 900 billion stimulus package just got approved by Congress. So what does this mean for the economy and stock market? Matt and Nick discuss the big points of this new bill, how this will affect middle-class Americans, and the looming tax bomb that is building up as we keep adding to our national debt. We will also mention a few end of the year planning ideas to help set you up for success in 2021.
Show Notes:
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
As we approach the holidays, this may be a good time to discuss the wants and needs of our family in retirement. Even though this conversation can be tough and emotional, it's one that is pertinent to your retirement plan. Today Matt and Nick will discuss some of the barriers that can stand in the way of this conversation, a few ways to get this discussion started, and issues that could potentially happen if you don't bring these topics up.
Show Notes:
PDF - Practical Tips: Who to contact when a loved one dies - https://bit.ly/39X1wyv
PDF - Ways To Create Your Retirement Paycheck - https://bit.ly/3oA8M7K
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
Many people in the financial world complicated the retirement process by throwing out buzzwords and explaining things in a complex way. But retirement shouldn't be this difficult, and it should incorporate some common sense. Matt and Nick talk about trusting your gut on the show today and some tips on how to do it. Along the lines of common sense, the guys also discuss an article that discusses how a guaranteed lifetime income plan can make you happier in retirement.
Show Notes:
Lifetime Income Article - https://www.kiplinger.com/article/retirement/t003-c032-s014-seeking-guaranteed-lifetime-income-join-the-club.html
Lifetime Income PDF - https://hwcdn.libsyn.com/p/3/1/a/31ad6dac7b0edde1/1_how-a-guaranteed-lifetime-income-can-make-you-happier.pdf?c_id=89310323&cs_id=89310323&destination_id=2234192&expiration=1606256282&hwt=005916e139aeed92253c64bd690942c0
Ways To Create Your Retirement Paycheck - https://dta0yqvfnusiq.cloudfront.net/incomeforlife/2015/08/Preparing-For-Retirement-Ways-To-Create-Your-Retirement-Paycheck.pdf
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
This episode was recorded on November 4th, 2020 and we are still waiting for all of the votes to come in from last night's election. It's no secret that the market is rather volatile when there's uncertainty involved. This why Matt and Nick talk to us today on why we shouldn't have our retirement plan rely solely on the stock market's performance. The guys will also talk about the stimulus considerations and how the overall economy is looking currently.
Show Notes:
Ways To Create Your Retirement Paycheck - https://dta0yqvfnusiq.cloudfront.net/incomeforlife/2015/08/Preparing-For-Retirement-Ways-To-Create-Your-Retirement-Paycheck.pdf
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
This year's election is on the horizon and many people have strong emotions and opinions going into it. It's common that we hear one candidate will make the stock market crash, while the other one will be beneficial for the market. Matt and Nick discuss how to get through volatile times with reacting emotionally and the importance of their clients understanding the financial plan they put together.
Show Notes:
Ways To Create Your Retirement Paycheck - https://dta0yqvfnusiq.cloudfront.net/incomeforlife/2015/08/Preparing-For-Retirement-Ways-To-Create-Your-Retirement-Paycheck.pdf
Get Access To The IFL Manual Vault - https://www.incomeforlife.org/get-your-roadmap-for-retirement/
888-228-8814
incomeforlife.org
foldsofhonor.org
There are many general rules out there in the retirement world and it can be difficult to navigate which ones are still relevant in today's environment.
Matt and Nick will break down what the 4 percent rule is and why they think this rule is outdated.
Contact:
888-228-8814
incomeforlife.org
foldsofhonor.org
The pandemic has caused a lot of turmoil in the job market. Many people have been laid off and now have to find a new employer to work for. But what should you do with your retirement account that's with your old employer? Matt and Nick talk about a few strategies you can utilize when making this big decision.
Contact:
888-228-8814
incomeforlife.org
foldsofhonor.org
There is no doubt that procrastination is in our human nature. Many people will push off tasks that need to be done until the very last minute, but this is not a trait that you want to carry in your financial life. Matt and Nick break down how much waiting can cost you in retirement. Not only in a dollar amount, but also the emotional weight it can have on your mind.
Contact:
888-228-8814
incomeforlife.org
foldsofhonor.org
The market has made a significant rebound since the dip in March. However, we should still proceed with caution and be wary that all of the economic effects of COVID-19 have not been felt fully. Matt and Nick will discuss how the markets take in information from the news and dive into the 5 companies that are driving the S&P 500 Index right now.
Contact:
888-228-8814
incomeforlife.org
foldsofhonor.org
The Income For Life Show, powered by Folds of Honor, is back!
On the first episode of the renewed podcast, Matt and Nick discuss the philosophy behind The Three C's of Retirement. Understanding your Checkbook, Calendar and Clock is the secret to a successful retirement and we'll explore why that's the case on today's show.
Contact:
888-228-8814
incomeforlife.org
foldsofhonor.org
Occam’s Razor is a term from the 1300’s that still applies today, which describes that when two or more ideas are presented to you – the simplest idea should be chosen.
That same idea is how retirement income planning should be, because if you cannot explain it to a six-year-old, you probably do not understand it yourself.
Take a listen and find out how the strategies at Income For Life fit hand-in-hand with Occam’s Razor.
Have you ever wondered whether or not you would “make it” in retirement? You know, whether you had saved enough money… or whether you were carrying too much stock market risk? Are you paying too much for your investments? Do you have the right advisor? These are all pretty common questions that most people tend to ask themselves. Specifically, with the volatility we have seen over the last few months, it’s easy to start wondering.
With uncertainty in the stock market and the economy comes uncertainty with the method in which you have positioned your assets, and that can be a scary emotion to deal with no matter what stage of your retirement you find yourself in. One thing is for certain, today’s economy and today’s retirees have it different than the generation before them. It’s the “survival of the fittest,” and the strong and “well-prepared” can survive. We’ve identified 10 areas that you should focus on if you want to “make it” in retirement!
“Status Quo” is a term that is often thrown around for a variety of things. At it’s core definition, it means “the existing condition or state of affairs.” We commonly use it as a phrase to insinuate that we are just ‘going to keep things the same’ or choose not to change how we have always done things.
And while this is fine in terms of which driving route you take to school or church or the daily routine you have when waking up in the morning, you better think twice when you leave the workforce and enter retirement.
Retirees beware: Failing to change your thinking when entering retirement could prove to be a big, big problem. Tune in to today’s podcast as we discuss Remaining ‘Status Quo’ in Retirement – Good Idea or Bad Idea?
Sometimes, the simple thought of ‘common sense’ gets overlooked in all the media marketing and political correctness ways of today. It is important to sometimes look back and reflect on things that we often say and do.
Today, our old friend by the name of ‘Common Sense’ has passed away – and we read his obituary. You won’t want to miss this…
History has proven that the 401(k) has failed miserably when it comes to providing a nest egg for retirement – for many reasons.
Listen to this podcast to learn more.
Q: When does an OPINION become a FACT? A: When the opinion can be proven.
Sure, everyone can have an opinion on whatever they want. There is nothing wrong with opinions, as long as they do not distort the facts.
With that said, the #1 fact of retirement income planning is quite simple: Your retirement income MUST be guaranteed for LIFE. It must last as long as you do.
Anything else is just a guess. Listen in to learn more about The Ultimate Retirement Income Solution.
If you become disabled, you may face huge bills for daily help. And, no, Medicare doesn’t cover it. When you try to gauge the biggest risks to your financial security in retirement, health care costs usually top the list. But there’s even bigger danger that doesn’t get as much attention: long-term care costs.
Listen to our podcast discussing The Retirement Crisis No One Talks About.
Filling up at the gas pump these days sure is nice. Gas is under $2 per gallon in most places and it sure is easier on the wallet – but what happened the last time oil prices dropped this low this quickly?
The signs are all around us and looking back at history can sometimes tell you what is coming up in the future. Listen in to learn more about what happened the last time oil prices dropped like this.
So, you’ve retired, huh? Now what? Should you keep all of your money in the stock market? How much risk should you really be taking? Better yet…how much risk can you truly afford to take?
If history has taught us anything about investing in retirement, having too much risk at the wrong time can be completely devastating. Just ask the thousands and thousands of people who lost 20,30 or even 40% of their retirement nest eggs in the 2008 market decline.
If you want to avoid the possibility of this disaster – or the possibility that you will have to re-enter the workforce after you have already retired – then today’s show is for you.
Proper retirement income planning is necessary to make sure that your Required Income (the ‘I must have every month’ money) is safe and secure – but why do so many insist on making it more confusing than it should be? You decide.
Listen in to learn about The Elementary Math Equation and determine for yourself.
In today’s media, we often hear about the new Hybrid Annuity products, or Fixed Index Annuity products, and how they can not only allow a retiree to have peace of mind with their retirement dollars – but also participate in the good years of the markets.
I am a believer that in order to determine where you are going, you need to know where you have been. Looking back into the past can give us great confidence for the future.
With that said, take a listen to the twenty-year history of the FIA products.
Proper retirement income planning is difficult, to say the least. Who is right and who is wrong – and what if I mess it up? We understand.
Listen to the podcast to learn about the 7 Retirement Income Planning Risks and How to Avoid Them and call us toll free at 877-284-8929 or visit www.IncomeForLife.org to learn more.
If you are beginning to prepare for retirement, or you recently retired and you are trying to sort out all the different options you have, you might be feeling a little overwhelmed! After all, making smart financial decisions is pretty hard!
Not only do you have to determine who is the best advisory firm to hire, but then you have to sort through all the recommendations made – and there are HUGE behavioral mistakes that most of us make every day.
On today’s show, we identify several common behavioral mistakes that people often make – and how to avoid them.
Today, the #1 fear in retirement is outliving your money, and it makes sense. How do you know if you have saved enough for retirement? The fears are real.
On today’s show, we look at the only financial product out there that can offer the promise of a guaranteed lifetime income stream in retirement – and that is an annuity.
We will uncover the good, the bad and the fine print.
For the average person, understanding different investments, the choices you have on your plans, the risk each option carries, etc…it’s just flat out confusing! If you have not spent time educating yourself or just simply don’t have the interest to do so, you might not be very optimistic.
Even worse, you may have hired a financial adviser thinking they will help your investments and provide you with more education, only to leave their office more confused than when you went in.
Listen to today’s show titled How To Choose The Right Investments For You to learn more about the common-sense choices people are using today and what each option will offer.
The 401k account has become one of the most popular and most commonly held investment accounts in the country. Over the past 30-40 years, we have seen the number of 401k plans steadily rise – and the number of pension plans steadily fall. Employers are shifting and are now opting to install the less expensive 401k plans.
Today’s podcast is all about warning you that you must have a better understanding of how important your 401k choices are, because the lack of education across all facets of these plans is blatant.
There are fundamental differences and changes that every investor must consider as they move along their path towards, and into, retirement. Investing your money properly for each phase can make a huge difference as far as when you might be able to retire.
The three phases is very simple to explain. Take a listen to today’s podcast discussing The Three Phases Of Your Financial Life.
You have probably heard the phrase “the stock market is just another form of gambling”, and in some instances that is absolutely true. Perhaps it can be deemed more socially acceptable way to gamble, as the amount of participants that use the stock market may outweigh the amount of people who regularly gamble.
At any rate, our goal for this podcast is to help you understand the direct correlations between gambling at a casino and investing money in the market.
Using a ‘robo-adviser’ is all the rage right now, especially since Charles Schwab recently joined the party marketing the first worldwide “name” to accept this new way of investing as a mainstream option.
What retirees and near-retirees are trying to understand is how these things actually work, what makes them better or worse than traditional options and how to understand whether they should give it a go – but one thing is very clear: You can’t “Robo” retirement.
Take a listen to today’s podcast to learn more about The Rise of the Robo-Adviser!
With every passing year, more and more employers are deciding to offer lump-sum buyout offers to eradicate their books from the lengthy list of pensions they are on the hook for. Retirees and near-retirees alike are getting lump-sum offers on a regular basis – but which is right?
Today’s podcast discusses the pros and cons of each strategy to help you determine which is best for you: the Lump Sum or the Pension Plan.
There are tons of comparisons from all walks of life discussing how Wall Street is ‘just like a casino‘ because you can lose your money just as fast as you win it. If I was a casino owner, I would be FUMING MAD at this comparison because I would never want to be compared in the same sentence as Wall Street.
In the United States of America, it is illegal to operate a betting scheme, except in Nevada, Oregon, Delaware, and Montana – but Wall Street is a completely different game entirely. It is a game that you simply cannot afford to lose – especially in retirement – and the deck is stacked against you. You are playing poker with the top poker players in the WORLD – and you are not going to win at that table.
Today’s show discusses how comparing Wall Street to casinos isn’t fair – to the casinos.
Most people tend to focus on the big picture when considering whether or not an early retirement is an option, when in reality it’s all of the small risks that they need to make sure they have a handle on. Having a lot of money saved for retirement is all fine and good, but is it going to be enough? Do you have enough to make it last?
Today’s show breaks down the most important things you need to consider before you determine whether or not you have enough to retire early.
One of the most common areas that pre-retirees and retirees have surrounds their Social Security benefits. For most people, they understand that they are entitled to some sort of a benefit, and they are estimating that based on years of receiving a ‘statement of benefits’ from the Social Security Administration.
However, as you know, the program is much more complex. Common questions involve WHEN to take Social Security, how the spousal benefit works, and whether or not a a pension will affect you Social Security check.
Today’s podcast is designed to provide a basic education discussing the most important areas to understand when it comes to Social Security.
As thousands of baby boomers rush into the retirement system each and every day, planning for the retirement you hoped for can be a tough task. After all, people have worked a lifetime in most cases to accumulate what they have – and ever before, until now, have they had to attempt to develop a plan that will help them spend some of their savings.
Common questions revolve around whether or not you have saved enough to how long can I make my savings last. While using a retirement calculator may help you determine how to invest your money, it that all you need?
Today’s Income For Life podcast discusses Underestimating What You Need In Retirement, as well as the three planning mistakes that many people tend to overlook when planning for their retirement lifestyle.
With so many different investment methodologies and investment philosophies out there today, it is important to sort out the good advice from the bad. Many investors might experience ‘decision paralysis’ when presented with all of the different options they have available to them.
The ‘rules of thumb’ are typically a good place to start. However, these same rules could also cause just as much harm as they do good.
Today’s podcast is our own version of the hit TV show ‘MythBusters’ as we de-bunk the top four investment Myths that could affect you during retirement.
As you already know, CD interest rates are still in the gutter. It has been almost ten years since CD’s were a viable growth option for your money. I know that many have held on in hopes that rates will come back. Unfortunately, if you have a CD that comes due this year or you recently had a CD renew, you know that rates are even worse than they were just a few short years ago. So, if you are looking for an alternative for your CD money, you are in the right spot!
Listen in to Income For Life Radio as we discuss The CD Buyer’s Guide to Safe or Safer Alternatives.
We often talk a lot about proper income planning, and managing tolerance, or even how to choose the right advisor. One area of finance that is sometimes neglected is the idea of how an investor’s individual behaviors and emotions can severely influence their chances at success – specifically in retirement.
Pre-retirees and retirees have been saving money their entire lives with hopes that one day that will have saved enough to retire comfortably and enjoy their golden years. It doesn’t take much to let the emotional ties you have to your own money get in the way of making smart, sound financial decisions.
Does this sound familiar? Thousands of Baby Boomers rushing into retirement each and every day…pensions underfunded all over the country…Americans living longer and pushing the retirement system to it’s threshold…you get the drift, right?
The American retirement system is under duress and is causing problems for thousands of people. And although we have seen plenty of press and media coverage about the pitfalls of the system, we still haven’t seen much by the way of reform. But, there is an answer for you! You can take control of your own retirement and plan properly.
Does your advisor have the appropriate planning process that will help you develop a plan you can rely on through thick and thin? Today’s show discusses the various issues that could affect you over the next 10,20 or 30 years of retirement – and what you need to do to protect yourself.
There are plenty of misconceptions prevalent on how annuities work and whether or not you should own one. Quite frankly, research shows that there are plenty of benefits to owning an annuity depending on your circumstances. However, due to the misunderstandings that are present and the lack of proper education on the front-side, most retirees and pre-retirees still shun the thought of an annuity from the onset. According to a 2015 study, only 8% of American retirees receive income from a private annuity.
Should this number be larger? For retirees that want security and safety for their retirement income lifestyle, the answer is most likely a resounding yes! So, what should you do? Make sure you understand the annuity on the front side before you write it off completely, and avoid these common annuity buyer mistakes!
It sure seems like it is easier to find a ‘bear’ than it is to find a ‘bull’ these days. Talk about investors walking around on eggshells lately! Do you really blame them? After all, we are now 6+ years into the current bull stock market run we have all experienced. So, it is only natural for most investors to start ‘waiting’ or ‘anticipating’ when the next major stock market tumble will occur.
For the past 15-20 years, we have been dealing with bubbles – the bubble-burst mentality, so why wouldn’t investors expect it to happen today? At the end of the day, positioning yourself properly to avoid the next market crash might just be easier than you think!
Retirement is the culmination of a lifelong journey for most. As Americans, we work and save and sacrifice for a long time with hopes that someday we will have amassed a large enough nest egg that we can retire and live off of our assets. Programs like Social Security and company pensions help some, but most of today’s retirees are forced to save through company savings plans. As these plans have grown, so have the common mistakes that retirees and near-retirees make as they make their final preparations.
We have outlined 4 very common and very influential mistakes that you should try to avoid. Do you want your retirement to last? Do you want to stay retired? Following these simple rules could increase your odd tremendously!
Listen in next week to Income For Life Radio as we discuss the 4 Retirement Blunders You Need To Avoid and keep checking for our national podcasts from previous shows on our website at www.IncomeForLife.org.
Each and every week we receive phone messages and emails from all over the nation with questions from our listeners. We have compiled this growing list over the past few months and we thought it would make the most sense to dedicate an entire show to your questions.
Today, we lay out the common questions you have been asking and give you step by step answers on how you can approach each problem. It’s the “Listener Questions, Answered” show!
Retirement. It is a frightening word for many. It is definitely a big decision. Can you afford to retire? Are you ready? Thousands of baby boomers are asking the same question every day as they inch towards the next phase of their lives. As with any big decision, there is always fear of making a mistake. When it comes to living in retirement and the possibility of running out of money someday, the fear can be paralyzing. Will the stock market crash at the wrong time? How might the economy affect your retirement paycheck? Should you be worried about Social Security?
Today’s Income For Life Radio podcast, provided exclusively at www.IncomeForLife.org, will discuss these concerns and the common fears that retirees have today – and what you need to do to overcome them. Having anxiety towards your retirement is quite normal, so let’s do something about it and alleviate the stress.