Retirement Fears, Contribute During Recession, Banking On An Inheritance – Mailbag Episode

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Show Notes

The journey to retirement can be turbulent, but with the right tools and knowledge, you can navigate this path with confidence. In today’s mailbag episode, we answer some listener questions about handling retirement contributions, fearing a recession, and banking on an inheritance for your retirement.

Bruce says he fears a recession and asks if stopping his 401(k) contributions is a good idea. Ellis asks if it’s okay to go ahead and retire because they expect to receive an inheritance in the near future. Tune in as Scott discusses the importance of planning for the best and preparing for the worst in this episode and shares helpful strategies for navigating your retirement planning journey.

Here’s what we’ll discuss in this episode:

  • “I fear a recession, so I might stop contributing to my 401(k). Is this a good or bad idea?” [2:40]
  • “I want to retire, but I can’t imagine not getting a paycheck each month. How do people get used to this?” [8:57]
  • “I’m 60 and would love to retire, but I don’t have enough money yet. Would I be safe to go ahead and do so if I’m expecting an inheritance soon?” [17:48]

Thanks for checking out this episode of the podcast. If you’d like to learn more about financial and retirement planning, check out our YouTube channel here.