Retirement Reimagined: Recent Episodes
Ron Bernstein and Nicole Sullivan
Welcome to Retirement Reimagined! We're here to help families, business owners and executives who all have one topic hot on their brain - retirement. Retirement is so much more than quitting your job and living off savings. We talk through what it actually means to BE retired, ideas for how to structure your newfound free time, and how you can continue to make an impact. We want to help you live your happiest, healthiest golden years, and feel confident in exciting the choices you'll make.
Ron Bernstein and Nicole Sullivan are CERTIFIED FINANCIAL PLANNER™ professionals and co-owners of Prism Planning Partners. Prism Planning Partners, LLC is a registered investment advisor.
The prospect of retirement can feel both exciting and daunting, all at the same time. Not only do you have to start living off your savings, but you also need to make sure you don’t run out of money.
So, how do you build a retirement portfolio that serves both purposes? And what are the risks you can prepare for?
In this episode, you’ll discover why Portfolio Risk is one of the most important considerations for pre-retirees.
Listen now to build a portfolio that puts you in a stronger financial position.
Show Highlights Include:
- Why do retirees and pre-retirees need to think about Portfolio Risk (and how diversifying your Portfolio saves you from unforeseen events) (2:10)
- Four questions to consider to make sure your portfolio is properly positioned to help mitigate the bad years as best you can (6:58)
- How keeping a certain amount of your income in “short-term instruments” protects you from unforeseen market volatility (8:20)
- Why the good-old “money under the mattress” way of storing your income is the worst idea (and a more reliable practice) (9:01)
- The FLOOR method to adjust how much Portfolio Risk you could take (9:59)
Thinking about what your typical week in retirement will look like? Download our Ideal Week in Retirement planner.
They say “sharing is caring”, but is it true when it comes to your retirement savings?
Fresh retirees often feel like they need to support their adult children financially, but such generosity (especially if unplanned) can jeopardize their savings. Leading to a cycle of financial headaches not only for them but the whole family.
So how can you help your children without compromising your own financial security and comfort in retirement?
In this episode, we give you some guidance to assess how much you can comfortably dedicate to supporting your kids. Plus some tips to help you save money while doing so.
Listen now!
Show Highlights Include
- The “Legacy Equation” to assess how much money you need to support your adult children (without jeopardizing your savings) (2:57)
- How to recognize when you’re “over supporting” your kids (and find more meaningful ways to help them out instead) (6:12)
- The “Fresh Retiree Trap” that 80% of people moving into retirement fall into just to find themselves broke a few years later (and how to avoid it) (6:59)
- How the ‘Annual Exclusion Gift Trust’ allows you to gift up to $16 000 to your kids (8:48)
- How the 529 Plan helps you to save a boatload of money for retirees who help to fund their grandchildren’s college education (11:57)
Thinking about what your typical week in retirement will look like? Download our Ideal Week in Retirement planner.
If you want to enjoy a fun and carefree retirement, then there’s a serious—and admittedly boring—part you need to think of: planning how you’ll get there.
With so many “what-ifs” affecting how much money you'll be left with, it may seem like an intimidating task to take on. But even though it’s mind-numbing, planning ahead can save you a lot of headaches down the road.
Because here’s the cold hard truth:
The more prepared you are today, the more financially secure your retirement will be.
In this episode, you’ll discover why planning ahead is a superpower that lets you enjoy the carefree Golden Years you deserve.
Listen now!
Show Highlights Include
- The “Ultimate Pilot’s Blueprint” to navigating the uncertainties that come with financial planning in retirement (2:51)
- Why having a financial plan is more critical in 2022 than ever before (even if you feel like the future is too unpredictable)(5:53)
- How planning ahead gives you peace of mind and dwarfs the emotional stress that comes with moving into retirement (9:28)
- Four ways a professional financial planner can help you assess your finances and get ready for unexpected events in retirement (10:24)
Thinking about what your typical week in retirement will look like? Download our Ideal Week in Retirement planner.
If you're concerned about running out of money in retirement, you're not alone.
In fact, it’s the main concern of most people approaching their post-work years. And with extreme inflation and market volatility, feeling certain about your savings seems impossible.
But don't worry. There are easy-to-follow strategies you can use to not only eliminate your fear but also maximize your retirement income.
In this episode, we’ll help you figure out how to ease the fear of running out of money in retirement. Plus, you’ll get simple action steps you can take right now to ensure you have enough savings for your Golden Years.
Listen now!
Show Highlights Include
- Three money-eating mistakes that 80% of pre-retirees make when they create their financial plans (and how you can avoid these) (2:26)
- How working with a financial advisor helps you prepare for unforeseen events that could affect your financial predictions (4:49)
- How outsourcing your accounting tasks keeps your emotions at bay in the storm of volatility (8:58)
- The “FLOOR Method” to assess your income sources before you head into your Golden Years (9:41)
- The weird way “over saving” creates a problem in your retirement (and how planning your legacy helps to avoid these) (11:47)
Thinking about what your typical week in retirement will look like? Download our Ideal Week in Retirement planner.
Entering retirement marks a major shift from being active in the workforce to relying on your investments. With the extreme market volatility we're experiencing, you might be afraid to go through such a monumental change.
It’s worse for those of us who already stepped into retirement and don’t want to take up a sie job. While it’s easier said than done, the volatile market shouldn’t dictate when you retire, or your comfort in retirement.
In this episode, you’ll discover how to deal with market volatility and find peace in retirement, even when the markets are uncertain. Plus, a few extra steps you can take to lower risk and retire more confidently.
Listen now!
Show Highlights Include:
- How to deal with market volatility in retirement if you can’t return to the workforce (03:51)
- How “stress-testing” for unexpected events helps you to prepare your budget and gives you peace of mind (05:38)
- The number one mistake people make when it comes to financial planning (and how to avoid it) (06:53)
- How to weed through the emotion-provoking news and figure out what truly matters in your life (instead of watching the news all day and getting anxious) (09:16)
Thinking about what your typical week in retirement will look like? Download our Ideal Week in Retirement planner.
Many folks love the idea of retirement: They imagine they’ll travel, spend time with their family, and knock things off their bucket list. Instead, most retirees sit on the couch, watching TV they don’t even enjoy.
Why is that?
Many believe they’ll automatically get the “golden years” lifestyle once they’re retired. But retirement can mean many different lifestyles. To make sure you’ll have a retirement you love, you might need a course correction.
In this episode, you’ll discover how to determine if you need to course-correct your retirement and pinpoint the ideal budget and lifestyle for your Golden Years.
Listen now!
Show Highlights Include
- The “what ifs” method to creating a financial plan for your Golden Years that ensures you’ll get the lifestyle you love. (2:46)
- An inflation-proof evaluation technique to create a financial plan that lets you enjoy your golden years worry-free (3:09)
- The reason why the vast majority of Baby Boomers return to the workforce (hint: it’s not financial difficulties) (6:53)
- How asking yourself what you want to be when you “grow up” helps you find more fulfillment in your Golden Years (even if you’re over 65) (8:19)
- How to seek help if you need to course-correct your retirement (and why you shouldn’t do it by yourself) (12:10)
Thinking about what your typical week in retirement will look like? Download our Ideal Week in Retirement planner.
Retirement used to mean you get a job, spend 40-plus years there, and at the age of 65 you stop working. Chances were good you comfortably live from your pension for the rest of your life.
Today it’s much different.
Our spending and saving habits have drastically changed and so did our life expectancy. Retirement is no longer defined as the end of work but as the beginning of a whole new chapter with new choices and challenges.
With possibly 40-plus years ahead of you, you may wonder how much money is enough and what will you do with your newfound time. Is retirement a good move when you still have so much energy?
In this episode, we’ll help you revisit your retirement plans to create a new vision in light of the changed circumstances.
Listen now!
Show Highlights Include:
- The “Baby Boomer Blueprint” to crafting the perfect plan for your retirement (1:30)
- How planning to live until 100 helps to create an emotionally and financially satisfying plan for your golden years (6:27)
- The weird way COVID19 helped pre-retirees to feel prepared for the new chapter (and how it helps you do the same) (8:17)
- Why working with a financial planner is more important than ever now (even if your plan is already done) (9:02)
Thinking about what your typical week in retirement will look like? Download our Ideal Week in Retirement planner.
Most folks romanticize retirement as a time of well-earned freedom filled with new and exciting passions.
But it’s also a sudden change that can put a lot of stress on your relationship with your significant other. That’s especially true when you have different expectations of what your golden years will look like.
Changed routines, too much time together, or lack of communication can all spark conflicts.
On the bright side, planning ahead, honest discussion, and a willingness to compromise can bring you closer to each other and make your relationship even deeper in your Golden Years.
In this episode, you’ll discover the best practices to prepare for the next chapter and navigate the inevitable changes that come with retirement.
Listen now!
Show Highlights Include:
- Two major considerations that’ll help you create a realistic routine in retirement and ease the shock that comes with the transition (2:27)
- How creating new routines helps you avoid conflicts with your spouse in your golden years (and why it’s better to have a plan 5-10 years before your transition) (3:25)
- The “wheel of life” exercise to discover your priorities and craft a shared vision for your retirement with your partner (5:33)
- A fun game that helps you pinpoint the areas of disagreements before they turn into real-life conflicts (10:28)
Thinking about what your typical week in retirement will look like? Download our Ideal Week in Retirement planner.
Most folks think retiring means you stop working. You’re finally out of the 9-5 hamster wheel and start living stress-free.
No boss. No busy schedule. No crazy traffic jams in the morning.
Who wants that again?!
But “work” in your Golden Years can be incredibly fulfilling–if you do it on your terms. Because this time it’s all about what YOU want, not about grinding for money.
In this episode, you’ll discover how to redefine work and find new ways to contribute after retirement.
Listen in to bring more fulfillment, joy, and purpose to your life in retirement.
Show Highlights Include:
- How to not worry about your mental sharpness in retirement (3:31)
- Why it’s great to work in retirement (even if you don’t need the money) (04:14)
- How knowing your “why” before transitioning into retirement helps you pick the perfect job for your Golder Years (05:15)
- How to start your passion business in retirement without breaking your bank account (7:17)
- How to avoid the get-rich-fast crazes before they jeopardize your retirement savings (9:01)
- Why starting a business with your spouse saves you from conflicts in retirement (9:37)
Thinking about what your typical week in retirement will look like? Download our Ideal Week in Retirement planner.
Moving in retirement should mean more money in your pocket, more time enjoying what you love, and more beautiful sights to see...
However, many folks regret the move just a few months in…
Why? Because their assumptions were all off. They end up financially stressed, homesick or lonely at a time when they should relax.
Luckily with a simple framework, you can avoid the common pitfalls that come with retiring at the wrong place.
Listen now to discover four major considerations that’ll help you ensure that you're making the perfect move for your golden years.
Show Highlights Include:
- Three important considerations to find your dream destination for your golden years (2:49)
- Why moving for financial considerations can backfire and cost you more money ( and how to avoid unpleasant surprises) (4:18)
- Four deal-breaking aspects many people who regret the move ignore when they do a price comparison (5:12)
- Why the lowest cost of living states are not attractive for retirees (even though their climate is great) (7:22)
- The number one mistake most retirees make when they relocate (and how you can avoid it before it costs you a boatload of money and bitter regret) (9:16)
Thinking about what your typical week in retirement will look like? Download our Ideal Week in Retirement planner.
Many folks call retirement “the golden years”. They look forward to endless leisure, tons of family time and doing the things they put off for decades.
But many retirees find the opposite right after they retire: They feel bored. That’s natural. If you’ve been busy for all of your life, having so much free time feels weird.
You deserve better than feeling bored in your golden years. In fact, boredom can even lead to chronic disease! Luckily, you can escape boredom and fill every day with exciting activities.
In this episode, you’ll discover how to revive old hobbies and discover new passions in retirement. That way, you can leave boredom behind and fully enjoy retirement..
Listen in to make your retirement more exciting!
Show Highlights Include:
- How being your own boss helps you beat boredom and the chronic disease it causes (even if starting a business sounds stressful) (3:20)
- Feeling bored after the “retirement honeymoon stage”? Here’s how to make life exciting again! (3:52)
- The “wheel of life” exercise that lets you discover your passions and set goals in retirement. (6:50)
- How to use the “week in retirement planner” to fill every week with excitement and banish boredom from your life. (10:30)
Thinking about what your typical week in retirement will look like? Download our Ideal Week in Retirement planner.
The longer you work, the more tempting retirement looks: Every day is filled with free time, you can pursue your passions all day and be with your family whenever you want.
But one question keeps many folks from retiring: Do I have enough money? Nobody wants to come out of retirement and get a side job.
Luckily, you can pinpoint exactly how much you need to retire. And it’s not just math: To plan your retirement right, you need to know how you’ll spend your retirement.
In this episode, you’ll discover how to figure out exactly how much money you need to retire confidently and eliminate money worries in retirement.
Listen now!
Show highlights include:
- How finding your “why” in retirement helps you transition out of your job (even if you don’t want to retire soon) (2:52)
- Three considerations that ensure your plan is bulletproof and keeps you financially secure in retirement (4:02)
- Why you should assume you’ll live 100 years to plan for your retirement (5:34)
- How using the “retirement planner” helps to avoid arguments with your spouse (and formulate a plan you both like) (9:05)
Thinking about what your typical week in retirement will look like? Download our Ideal Week in Retirement planner.
Welcome to Retirement Reimagined! We're here to help families, business owners and executives who all have one topic hot on their brain - retirement. Retirement is so much more than quitting your job and living off savings. We talk through what it actually means to BE retired, ideas for how to structure your newfound free time, and how you can continue to make an impact. We want to help you live your happiest, healthiest golden years, and feel confident in exciting the choices you'll make.
Ron Bernstein and Nicole Sullivan are CERTIFIED FINANCIAL PLANNER™ professionals and co-owners of Prism Planning Partners. Prism Planning Partners, LLC is a registered investment advisor.