Ep 73: Irreversible Retirement & Financial Decisions

Subscribe With Your Favorite App

YouTubeApple PodcastsSpotifyGoogle PodcastsAmazon MusicTuneIniHeartRadio

Show Notes

There are plenty of decisions that you’ll make in the retirement planning process that can’t be undone, so you want to make sure that you make the right call. In this episode, we’ll explain why these decisions are so important and can’t be undone.

The last thing anyone wants is to make an irreversible decision that will hurt their retirement plan. If you don’t have a well-conceived plan in place and end up walking away from your paycheck earlier than you should, it’s true that you can always go back to work in some capacity later. Realistically, it’s usually challenging to re-enter the workforce, especially if you’re looking for the same salary that you had when you left.

Listen to the full episode to learn more about some of these decisions to consider early in your retirement plan.

Here’s a little of what you’ll learn in this episode:

  • Wall Street’s prediction of the direction of the stock market is often wrong. [3:54]
  • If you miss your window of opportunity and change your mind about claiming Social Security, you’ll be out of luck. [7:05]
  • Once you start receiving your pension, you won’t be able to select spousal benefits. [12:14]
  • At some point in most of our lives, we will need care. Don’t wait to get long-term care insurance. [18:04]

Here is the article mentioned in the episode:

https://www.marketwatch.com/story/wall-streets-prediction-on-the-direction-of-the-stock-market-is-often-wrong-way-wrong-11663337484