Today’s Objective…

Decision-making can be tough, and it’s often tempting not to make any decision at all. As you research a decision, you’re often hit with a barrage of information, and if you’re not careful, you can find yourself stuck. However, there comes a time when we all need to fish or cut bait as the saying goes. Discover the importance of decisiveness and the dangers of  analysis paralysis.

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

Tactical Points:

[2:19] Don’t Be Overwhelmed

  • Retirement is overwhelming. You’ve saved all this money, and suddenly, you have to figure out how to make it last the rest of your life.
  • Sometimes, you just have to make a decision lest you get stuck.
  • Start by focusing on certain areas of retirement planning. Dan explains the five areas of focus he uses to create a retirement plan.

[3:50] Analysis Paralysis

  • Too much information is paralyzing.
  • There used to be a time when information was limited. Gone are those days.
  • Information is good, but you need wisdom to know how to best apply it.

[5:30] General Confusion Surrounds Finances

  • Personal finance is complex enough as it is. It doesn’t help when advisors throw around useless knowledge just to make them sound impressive.
  • Don’t be intimidated by personal finance. Turn to your advisor as a resource. Work with an advisor who has the start of a teacher.

[8:40] The Taboo Of Money Talk

  • Some folks just don’t like talking about money. For various reasons, it’s just an uncomfortable topic.
  • Traumatic issues make money issues more uncomfortable. The loss of a spouse, a relative, or a job can make money matters more stressful. Take time to grieve, adjust, and educate yourself before making decisions.

[13:17]  Mailbag: Stretch IRAs

  • Arnold was challenged to consider opening a stretch IRA. However, the politics surrounding that investment vehicle make it’s future uncertain, and he wants to know what to do.
  • Stretch IRAs allow beneficiaries to stretch IRAs over multiple generations.
  • Stretch IRAs are a wonderful tax tools. You can spread the tax over the lifespan of your life or even your children’s’ lives.
  • Congress has been debating the tax process surrounding stretch IRAs for years. Their future is somewhat uncertain.

[16:22] Mind Over Money: The Wall Street Roller Coaster

  • Dan explains how investing in Wall Street is like riding a roller coaster.
  • Volatility is normal. Don’t treat it like a recession.
  • Don’t measure your success from the market’s peaks. Measure your success from where you started.

[19:21] Getting To Know Dan: Trading Places

  • Dan explains someone he’d trade places with for a day.

Additional Resources:

The Plan:

Free Retirement Toolkit:

Just click the picture to get your free retirement toolkit now!


The Host:

Dan Betzel – ContactRetirement Trailblazer Guide – Retirement Rescue Toolkit – Call: 614-472-4510