Today’s Objective…

Do you have enough money to retire? At what age or dollar amount will you get there? How can you be sure? These are all questions we’ll talk about in today’s podcast.

(Click the featured times below to jump forward in the episode)

First Things First.

  • [20:02]Getting To Know You: We ask Dan what style of clothes he used to love to wear that he looks back on and laughs about now.
  • [12:37]  – In The News: Is the Bitcoin craze over? This is typical of behavioral finance. Beware of this kind of risky venture.
  • [14:55]Mind Over Money: Core beliefs can be so powerful that we no longer even see them. Growing up I heard that “money doesn’t grow on trees” and somehow picked up the notion that there is a lack of money. Examine your core beliefs and have a more conscious in your reaction. Sometimes the belief structures we have around money can create so much stress about these beliefs that aren’t necessarily truths.

Tactical Points:

When is it safe for me to retire?

  • [2:23] – Do I have enough money to retire? Or will I run out of money? For most people, that’s their number one concern. It’s not rocket science, but there is a lot of emotion to it. When do you a retirement budget, think about how much do you want to live on? Get clear about your budget and your retirement income.

Do most people aim for an age or dollar amount when they retire?

  • [4:11] – Most of us look for an age to slow down with work. A lot of people don’t want to work full-time much past 67, but as soon as they say that then they ask the dollar amount they need. Some people retire for a few years and come out of retirement, so it’s not a one-size fits all. You want to be able to have the freedom to make the decision to retire or to work in something you enjoy. It doesn’t have to be retiring and then just sitting on the front porch.

What is the process to figure out when you can retire comfortably?

  • [7:26] – The actual parts and pieces are not difficult, but the emotional side is. You need to get clear of your retirement budget. At first people want to travel and be close to grandchildren, but down the line it’s important to consider possible health care costs. Then, get clear about your retirement income. It could come from part-time work, social security, investments, pension. You have to look at your individual needs and wants.

Additional Resources:

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The Host:

TDan Betzel – ContactRetirement Trailblazer GuideRetirement Rescue Toolkit – Call: 614-472-4510