Season 1

The Most Expensive Mistakes You Can Avoid in Retirement

Episode Notes

Special Guests

Travis Iles, Texas Securities Commissioner

Jason Williams, CFP(R), Sullivan Bruyette Speros & Blayney

Managing your finances during retirement is like trying to land a helicopter in the wind--it requires accuracy, monitoring and caution. Texas Securities Commissioner Travis Iles advises retirees to steel themselves against unscrupulous brokers and precious metals hawkers who try to appeal to retirees’ greed and fear of losses. Financial planner Jason Williams says that the key to managing your money during retirement is to know exactly how much money will be coming in versus going out and to make sure your retirement investments achieve an optimal balance of capital protection and future growth potential. And while you can use online retirement planning calculators to get a ballpark estimate of how long your nest egg will last, these tools’ well-documented inaccuracies strengthen the case for working with an experienced fiduciary financial planner to address these critical issues and gain greater peace of mind.

Resources

 

  • Establish an online Social Security account to estimate your monthly income: Link
  • Texas Tech Study on the inaccuracy of online retirement planning tools: Link

NextAvenue articles on retirement planning

 

  • Retiring on a shoestring: Link
  • What retirees should do--and not do--If the stock market crashes: Link

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