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

Recent Podcasts

Season 8
Tax Tips — Don’t Procrastinate!

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The clock is ticking towards Tax Day, April 18. Here are some timely tips for tax form procrastinators.

For further research:

Season 8
Annuities for Retirement Income

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Mention the word “annuity” and most investors recoil. There seem to be so many hidden secrets and costs.  And high pressure sales tactics along with "free dinners."

In today’s podcast we unravel those mysteries – with the one man who has consistently worked to educate the public to the ins and outs of annuities – as well as some of the better uses of these insurance company contracts.  Stan Haithcock’s website – www.StantheAnnuityMan.com -- is a great resource for free basic information and good advice on annuities.  And Stan is one of the most entertaining financial speakers you’ll ever meet.

So, sit back and enjoy our podcast.  We devote special attention to Multi-Year Guaranteed Annuities (MYGAs), now yielding over 5.5%.  They’re the insurance industry’s version of a bank CD, without the FDIC backing.  And they are a great way to improve yields either inside or outside your IRA.

To read more about MYGAs, here’s a link to Terry’s column on the subject:  https://www.terrysavage.com/an-annuity-that-works-for-you-myga

And if you’d like to listen to more of Stan’s terrific approach to financial markets, both Terry and Pam have recently joined him on HIS podcast.  You’ll find the links to these conversations here:

Terry Savage: The Savage Financial Truth in 2023
https://www.stantheannuityman.com/fwa-terry-savage-january-2023

Pam Krueger: Your Wealthramp to Fiduciary Advice
https://www.stantheannuityman.com/fwa-pam-krueger-february-2023

 

Show Episode Notes

Podcast Hosts

Pam Krueger

Pam Krueger

Terry Savage

Terry Savage

Richard-Eisenberg

Richard Eisenberg

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