Ready For Retirement
1,644 FOLLOWERS
Ready For Retirement is a podcast dedicating to helping you learn the tips and strategies that will help you achieve your retirement goals
Ready For Retirement
3w ago
The "Three Bucket Strategy" is a popular retirement income planning method. The first bucket covers immediate expenses in retirement. Listeners John and Donna are seeking advice on constructing their first bucket. With $1.6 million in assets and pension incomes, they aim to retire in 2026.
James analyzes their needs, income sources, and portfolio and lays a foundation for their Bucket #1. It's crucial to bridge the gap between expenses and income, considering risk capacity and tolerance.
Questions Answered:
How do you divide assets into the three buckets, and what is the pu ..read more
Ready For Retirement
1M ago
Typical retirement strategies assume a retirement age of over 60. With an earlier retirement goal, a careful look is required to determine what strategies will create the best outcome. James responds to a listener’s question about where to invest as he anticipates an early retirement. James walks through the steps of Root’s Sequoia System to explore options for early retirement scenarios.
Questions Answered:
How does early retirement impact traditional retirement planning strategies, such as the 4% rule?
When deciding between retirement accounts (e.g., 401k) or brokerage accounts for p ..read more
Ready For Retirement
1M ago
The 4% rule helps us understand how much we can safely take out of our portfolio each year without running out of money in retirement.
Yet, as simple as the 4 percent rule seems, the practical implications are drastically misunderstood. I explore the three common mistakes people make when applying this rule and how to avoid them.
Questions Answered:
How do RMDs impact the 4 percent rule?
Does the 4 percent rule account for changes in expenses and income sources?
Timestamps:
0:00 - Questions from listeners
1:26 - Misconception 1 - RMD
3:27 - 4% rule applies to portfolio
5:51 - Assumpti ..read more
Ready For Retirement
1M ago
Retirement is not just about financial readiness; it's also about finding purpose, passion, and personal growth.
James and guest Cynthia Meyer debunk the arrival fallacy, the illusion that reaching retirement will bring lasting happiness.
Having structure in retirement and pursuing your passions is vital to feeling fulfilled. Although it's easy to fall into comparing our retirement experiences to those around us, this is a dangerous trap. Finding what's truly important to you and following that will lead to much greater happiness.
Questions Answered:
What is the arrival fallacy ..read more
Ready For Retirement
2M ago
Sammy, a 51-year-old retiree, is seeking advice on how much she should convert from her traditional IRA to a Roth IRA each year to avoid jumping tax brackets and minimize the taxation of her social security benefits.
James analyzes Sammy's current financial situation and offers guidance on approaching the tax planning aspect of her retirement strategy.
Learn:
How to determine how much to convert from an IRA to a Roth IRA
Why forward-looking tax planning is essential
The potential consequences of certain financial decisions
Questions Answered:
What factors should you consider in ..read more
Ready For Retirement
2M ago
James addresses a common concern for a couple approaching retirement through a listener’s question. Listener Rob plans to collect Social Security early at 62, raising questions about his wife’s retirement.
Understanding Social Security strategies to avoid potential losses during retirement is important.
James explains the intricacies of spousal benefits, detailing how they are calculated based on the primary earner's full retirement age benefit.
Key Takeaways:
-Wait until full retirement age to maximize spousal benefits
-Primary earner must start to start collecting for the spouse to be eli ..read more
Ready For Retirement
2M ago
As one listener prepares for an early retirement, James discusses the situation, covering how to build a bond ladder based on non-retirement funds.
James provides a different way of looking at the stock-to-bond conversation.
Learn how to determine the appropriate amount to have a bond ladder and whether you should own individual bonds or bond funds as a part of that ladder.
Questions Answered:
How do you balance risk capacity and risk tolerance in portfolio allocation?
How do you build an effective bond portfolio for retirement?
Timestamps:
0:00 - Listener case study
2:37 - James’s pe ..read more
Ready For Retirement
2M ago
James explores the concept of sequence of return risk in retirement planning. Most people are unaware of how risky this is, as it doesn’t become an issue until you begin living off your portfolio.
Responding to a listener’s inquiry about early retirement, James dives into the potential impact of market timing on retirement outcomes.
Learn three actionable strategies:
Ensure a reasonable initial withdrawal rate.
Implement a suitable withdrawal strategy.
Own a diversified mix of assets.
Questions Answered:
How does sequence of return risk impact retirement outcomes?
How can early retiree ..read more
Ready For Retirement
3M ago
Should you sell long-term stocks for a real estate investment?
I walk through one listener’s question and explain what you need to consider before making such a decision.
Aside from the obvious–is it a good financial investment–you also need to consider if it's a good emotional decision.
Learn:
➡ The tax implications: how are capital gains taxed differently?
➡ How to compare the dividends of a bond to those of a property investment
➡ What important factors and questions need to be carefully accounted for
Questions Answered:
When does it make sense to sell long-term stocks for real es ..read more
Ready For Retirement
3M ago
When you’re doing well financially, paying advisor fees might seem unnecessary. So do you need an advisor if you’re already in a good place?
Having a successful retirement isn’t just about not running out of money; it’s about what more you can do.
Through a real-life client story, I explain how having an advisor’s perspective to implement the right strategy can be more valuable than the cost of their fee.
Advisors can help you avoid biases in the way you invest and plan. They can ensure you have the right withdrawal strategy and don’t overpay on taxes. When handling finances for yourself, y ..read more