Ep 48: Murky Issues That Make Retirement Planning Harder

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Low-interest rates, the cost of products going up, underfunded Social Security, and market volatility can really create some murky waters and make financial planning pretty difficult. We’ll share how to get clarity on your finances on today’s show.

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Show Notes

USA Today recently had an article about, “3 murky issues that make retirement planning extra hard in this economic climate.”

Low-interest rates, the cost of products going up, underfunded Social Security and market volatility can really create some murky waters and make financial planning pretty difficult.

When you want to retire, you want to have clarity in your own situation on these items.

No matter how much money our clients have, they all come in with the same questions and fears. Savers often struggle with spending in retirement and want to know how much they can spend without running out of money.

This is something that’s not taught in high school or college, and many people don’t understand how it works. We want to help you learn and be more comfortable and confident with your money.

Americans are confused about how much income growth is needed to offset inflation

You have to factor in inflation and figure out how to compensate for it. It’s really important for you to factor in the inflationary factor and at least plan for it.

Inflation is always happening, but we don’t typically notice it. We’ve noticed it more lately because it is going up so fast.

Half of Americans aren’t sure how much they can take out of their retirement accounts. Most of them also don’t know a safe rate to take out without worrying about running out of money.

We aren’t surprised that this is a murky issue for so many people. There are a lot of gray areas when it comes to withdrawing money.

If you go online, you’re going to find the 4% rule, but is that outdated? For our client’s we put guardrails on their plan to protect their income in retirement. When the market is going down, you’ll be protected by those guardrails and be able to make adjustments to your plan.

Listen to the full podcast or use the timestamps below to jump to a specific section. 

[1:23] – Pets

[7:05] – USA Today article

[10:56] – Income growth

[18:45] – Social Security

[26:37] – Withdrawal rates

[30:05] – Other murky issues

Thanks for checking out this episode. We’ll talk to you again soon.

CNBC – https://www.cnbc.com/2022/03/23/petco-is-inflation-proof-ceo-says.html

USA Today – https://www.usatoday.com/story/money/personalfinance/retirement/2022/02/28/retirement-3-issues-making-planning-harder/49859935/

“Americans are lacking some of the basic knowledge to achieve successful retirement.”

-Scott Sierens