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Listen to Johnson Brunetti's Money Wisdom with Joel Johnson CFP®, host of Better Money Television program and Forbes Contributor. Gain true financial wisdom and advice aimed at educating you about all of your financial options when it comes to retirement so you can make the best decisions for you and your family. Get information and education that can bring you peace of mind with your savings and retirement. Whether it’s your 401k account, IRA, or an underperforming asset, Joel Johnson can answer your questions and make you more aware of issues that may affect you.

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Dec 13, 2019

Looking to get a leg up on your retirement planning but not so sure where to start? We’ve come up with a six-step pre-retirement checklist that will help you target areas that need to be evaluated. Getting a grasp on these items will allow you to build a plan that meets your income and expenses later in life.


Show Notes and Additional Resources:


Today's Rundown: 

0:35 – What’s coming up on today’s show.

1:22 – What do your clients think about when they hear ‘market correction’?

2:00 – Here’s how we officially classify a correction.

2:53 – An actual bear market is drops of 20% or more.

3:31 – Market corrections can actually be a good thing.

4:26 – The smarter you are, the more dangerous you are to your investment success.

5:27 – Let’s run through the pre-retirement checklist you need to run through.

6:24 – First item: Do I know how much I need?

8:02 – Second item: Have I identified all my sources of income?

9:13 – Third item: Have I thought about longevity and will I outlive my money?  

10:52 – Fourth item: Am I prepared to handle market volatility?

12:35 – Fifth item: Do I have a plan to address long-term care costs?

14:58 – Last item: Do you have your legacy plan in place?

17:09 – Email question: My employer just announced they will no longer fund our pension plan and we have the option to keep it in place for income down the road or taking the current amount as a lump sum. Which is better?