Oct 18, 2019
Everyone wants to be financially secure when they retire but each person has a different way of defining what that means. From leaving a legacy to never running out of money, peace of mind comes in a variety of forms. Let’s examine the most common meaning for financial security and what that means in retirement. Plus, we’ll answer a few mailbag questions about remarrying, advisors, and a recession.
On this episode:
0:42 – Fact of the week: 50 years ago, 76% of America’s 26-year-olds lived with their spouse. Now that number is 24%.
3:09 – The average marrying age has gone up in the 21st century.
3:39 – This impacts financial planning because many people nearing retirement are having to care for their parents and their children.
5:02 – What do people mean when they say they want ‘financial security’? The first thing people care about is not being a burden on your children.
6:18 – For some people, it means not running out of money in retirement.
7:23 – Another definition is reliance on a paycheck which means some people want to go back to work.
8:48 – For other people it means not having to make choices on what you spend your money on.
10:17 – Other people don’t want to watch their accounts bounce up and down.
13:20 – In the news: A lady recently died at 102 and DirecTV tried to charge her son an early termination fee for closing the account.
14:41 – Financial Dictionary: What does NUA stand for and how it can benefit you?
17:50 – Mailbag question: My husband died 15 years ago and never considered getting remarried until now. It makes me nervous to sell my house and combine finances. What would your recommend?
19:05 – Mailbag question: I’ve talked to multiple advisors about how they get paid and it sounds like they all have completely different models. Are there this many different fee structures or does everyone explain it differently?
21:11 – Mailbag question: Should I be planning for a recession? Be honest. I can handle it.
Get the full show notes and additional resources here: https://johnsonbrunetti.com/?p=4223