What should you do with that old retirement plan you forgot you had or from that job you just left? Should you use it to pay off bills? Leave it alone? Do you have to listen to that letter telling you to move your account if you stop contributing to it? In today’s episode we’re talking about options for those old retirement accounts that you may have forgotten about or you’re just not sure what to do with them. I share 4 options you can handle this with, including leaving it where it is,...

How do You Work and be Retired at the Same Time  There are a lot of people who want to retire after 20, 30, or 40 years of being at a particular job want to retire, take a step back, and start a job with a lot less stress, that they enjoy, or a job with less hours. Sound insane? Well not so much. This is a goal for a lot of people these days. So how do you do that? How do we retire and continue to work? In this episode, I share the key points of retiring and continuing to work. Maybe you want...

People may not be able to guarantee success in a retirement plan, but they can eliminate failure factors. What is a failure factor? Failure factors are mistakes that people make time and time again. It is imperative that you identify these because they could be derailing your retirement and all the hard work you’ve put in over your lifetime. In this episode, I share the top 5 failure factors that I see investors making. I will give you real examples of clients I have seen that exhibited one...

A Roth IRA can be a great tool to help you get to where you want to be, come retirement. Many people do the bare minimum when planning for retirement, but there are so many options to consider when deciding where to put your retirement savings. A Roth IRA can be a great asset in your retirement plan by offering you a plethora of benefits.Roth IRAs are the vehicle to help you invest the money you save for retirement. However, what makes Roth IRAs so incredible is that your earnings grow...

Is it a good idea to take a lump sum out to pay off a car or house? If you took your money outside of your pension plan, could its growth do better? On today’s episode of the Retirement Planning Podcast, Jim talks about cash out pensions, otherwise known as lump sum pensions. Pensions are thought to be a thing of the past, but they can be pretty great! Jim explains why companies offer cash out pensions, why they don’t, and he even divulges the top 5 things to consider before making a decision...

People talk about the importance of saving money all the time. It’s one of the biggest financial tips parents instill in their children and a recurring investment throughout our lives. But even though we talk about saving for retirement so often, we never really define what that magical number is that we should set as our goal for retirement.  Welcome back to the Retirement Planning Guy Podcast where any and all retirement questions get answered! Today, the big question I answer is, “How much...

Planning for retirement can get overwhelming really quickly! Before you get into the weeds of retirement planning, stop, and get organized first. Using a checklist can be a helpful tool to keep you on track, move forward, and accomplish what you need to get done. Implementing a retirement checklist will help you ensure that you and your financial advisors are staying on track and allowing you to plan well and retire happy! I share the ten (or more) key marks that you should definitely have on...

Let’s talk life insurance! Yes, I said it. Today I’m breaking the silence and we’re talking about the taboo topic of life insurance. So many people ask me about life insurance and want to know whether it’s something they should have, what kind to have, and all the nitty-gritty details. Today on the Retirement Planning Guy podcast, I’m here to answer all your life insurance questions! There are a lot of different types of life insurance, so I walk through all the many types and help clarify...

Have you taught your kids or grandkids about money? It’s so important to understand money and be comfortable managing your money. Once you understand it, it’s time to teach your children and grandchildren how to handle their money in smart ways, as well. This episode reveals the importance of having a strong familiarity with money and why it is so critical to grasp. Jim goes through the top seven things to help you teach your kids and grandkids how to manage, save, and comprehend money. Jim...

So, you’ve retired—congrats! You’ve got time on your hands and way too much space. Let’s talk downsizing!Downsizing can be a liberating experience—especially when you no longer have to worry about cleaning and maintaining a big house. Plus, downsizing can help you flush out the old and start fresh! But beyond the day to day perks of downsizing, there are some great advantages of downsizing that can help you financially, as well.Jim lays out all of the financial benefits of downsizing that are...

Laid off? Hearing the words “you’re fired” can be very scary. They are words no one ever wants to hear, are often unprepared for.So, is it possible to retire after being laid off? Being laid off stinks. It knocks you down and sucker punches you. Hard. There are a lot of things to consider if you’re ever in that situation and even more so if you’re planning for retirement. Here’s the thing though: if you’ve planned, even a little bit, for retirement, you’re going to be okay. Jim, having been...

How do you find the right financial advisor for you? This question is so common, but the answer is often unknown. If you’re passionate and willing to invest the time and energy into learning and nurturing your own finances, then you don’t need a financial advisor telling you what you already know. But for those of us that aren’t as knowledgeable, it’s imperative to do your homework when it comes to finding a financial advisor that puts you and your financial goals first.To truly discover the...

Do you want to have fun and live in financial freedom in retirement? Well, good news—you can! We see people all around us that are living it up in retirement, and we strive to achieve the same happiness when we retire. But then we get stuck on how to get there. Financial freedom is the name of the game, especially in retirement! So, Jim cuts through the white noise of cliché financial tips that are too often said but have little substance to get us moving in the right direction and away from...

 Are you scared of running out of money—especially in retirement? Join the club! It can be scary for retirees to find their cash flow running dry. So, we need to start preparing, and saving your money now, so that you can be financially stable in retirement. No one has a crystal ball, but there are certain factors, such as inflation and taxes, that we can prepare for now in our financial planning that will give us security down the road. If you’re worried about having a steady and consistent...

 What is your plan to cover long term care during your retirement? Most people don’t like to think about going into a nursing home later in life, but it’s something that we need to think about when we plan for retirement. It’s essential to understand your options and begin to plan for and invest in long term care insurance early on so that you can prepare in the best way that will pay off best for you in the long run. Long term care insurance can be complicated and challenging to navigate,...

No one likes to fail—especially when it comes to retirement. Jim digs into the nitty-gritty of retirement mistakes that he sees so many people make and outlines the steps to follow and plans you need to have in place to avoid them and retire without regrets. You may be eager to retire but pump the breaks and educate yourself first so that you aren’t scrambling to make ends meet later. Jim explains why three key mistakes can wreak havoc on your plans for retirement.  He shares insight on the...

So many of us are working towards retirement, but never entertain the idea of early retirement because it seems unattainable. The truth is, retirement, and–even more so—early retirement takes a lot of work and serious planning. In this episode, Jim helps navigate the road to early retirement and clearly outlines the steps we need to take in order to reach our goal of retiring early. Some are lucky enough to come into money that allows them to fall into early retirement comfortably without...

It can be difficult for retirees to adjust to their newfound freedom and ample time. Often, being newly retired begs the question, “What’s next?” After working long hours and following a routine for a large portion of your life, transitioning into retirement at any age can be a considerable change. Our work becomes a part of our identity and gives us a sense of purpose, a sense of belonging, and allows us to make an impact. So, when our work is gone, we can be uncertain of what to do next and...

In the very first episode of the Retirement Planning Guy podcast, Jim dives in to answer the age-old question, “How do I reach my retirement savings goals?” This question can be daunting, and we often find ourselves chasing this elusive “magic number” of savings without really understanding what it is and how to achieve this retirement goal. Jim brings to light the idea that there isn’t a “magic number.” He uncovers that, on the contrary, everyone will have different retirement goals because...