Apr 26, 2019
Our clients have all sorts of questions about retirement. Some
are more popular than others, yet they're all crucial to solve as
you approach retirement. Join us as we search for answers to these
three important questions.
What You'll Learn:
1:34 – Goldman Sachs Predicts Low Risk Of
- Economists at Goldman Sachs
predict low risk of recession in 2019.
- Remember, these terms are general. They don't apply to you as
- Don't bank your future on Wall Street's predictions.
- Goldman Sachs could be wrong.
3:45 - How Do You Know How Much Income You'll
- Get an income analysis. Get a clear picture of how much income
you want and whether your investments can deliver that income.
- You won't know exactly what you need.
- If you're retiring today, take a year to determine what you're
- Make a general budget, and tweak it as you go.
6:03 - How Do You Know How Much To Put In The
- You need an emergency fund.
- You need at least three to six months worth of expenses in
safe, liquid cash.
- This money is for EMERGENCIES only. When your car breaks down,
when a tree falls through your roof, use this money.
7:32 - How Do You Know How Much Risk You Should Be
- The answer lies within behavioral economics. Every individual
- Everyone has a level of risk tolerance.
- We can run a stress test on your portfolio to determine what it
would lose in a stressful situation.
- How much risk you should be taking is directly correlated to
how much you can stand to lose in your portfolio.
13:50 - A Trivial Aside
- We step aside from finances to quiz Joel on his knowledge of
15:04 - How To Manage Your Adult Children
- Joel advises us how to manage your adult children as you plan
- If your children are still on the payroll, you need to know
whether you can support them.
16:39 - What To Do About Paying For College
- If you had kids later in life, you could be paying for their
college education as you retire.
- You need to know whether you can afford to pay for their
17:51 - How To Take Care Of Aging Parents
- Ask whether you can afford to care for your parents.
- Determine whether your parents will live with you.
19:30 - Leaving A Legacy
- Legacies are a personal decision.
- You can be extremely intentional about leaving a legacy.
- You need an estate plan to accomplish your goals.
"Every individual is different. You can't know your risk
tolerance until you're put under pressure." - Joel Johnson
ScheduleYour Money Map Review: http://retire.johnsonbrunetti.com/contactjohnsonbrunetti
For further exploration of this topic and additional resources,
check out our blog here: https://johnsonbrunetti.com/how-do-you-know-the-answers-to-these-three-questions/