Wed, 26 June 2019
How to make your money last as long as you do is the biggest question in retirement planning. And now that people are living longer lives your money has to stretch farther than ever before. Today’s retirement is a brave new world and the problems you will encounter haven’t been experienced by any previous generation. Are you ready to learn what you can do to make your money last as long as you? Check out this episode of Retirement Answer Man as we dive into this important question.
Is there a right way to retire?
Do you think there is a right way to retire? Do you think that there is a secret formula waiting for you? The truth is that nobody has the recipe for the secret retirement sauce. That’s because no one has done it before. You’ll live longer than ever, you’ll live more years in retirement, you’ll be more active, you’ll spend more, and you probably don’t have a pension. This is all still so new to all of us. So don’t be fooled by someone who thinks they have all the answers, because they don’t. This should challenge you to make small smart decisions since there is no big “right decision.”
How to make your money last
As you now know, there is no perfect model for making your money last. The most important thing to consider is to be agile in your decision making to keep many options open. Since there is no clear path ahead, you just have to stay agile. It's better to acknowledge that and to build a framework that allows you to make lots of little decisions correctly. That way you can react to opportunities and risks quickly as life unfolds.
Key areas to be intentional about in retirement planning
When you are thinking about how to make your money last in retirement there are some key factors that you can consider.
Agile retirement planning helps you keep your options open
Agile retirement planning is all about keeping your options open. You want to have the ability to reevaluate everything as life unfolds. Create a stress test and make small changes along the way. Find risks and opportunities to improve your plan. A bit of intentional action will take you a long way. Check out my book to learn more about agile retirement planning. If you read it and leave an honest review on Amazon I’ll even send you a signed copy!
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
HOT TOPIC SEGMENT
PRACTICAL PLANNING SEGMENT
THE HAPPY LAB SEGMENT
TODAY’S SMART SPRINT SEGMENT
Resources Mentioned In This Episode
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center