Retirement Talk Podcast Episode

128. Unprecedented Times

November 2, 2022
Unprecedented times in retirement

The steep decline in the stock market and rising inflation is impacting all Americans but no one is feeling it quite like people that are nearing retirement or those that recently made the transition to retirement. The drop in account value paired with the decline in purchasing power can create a lot of uneasiness about retirement. 

On this episode, Laura Stover, RFC® and Michael Wallin, CFP® will help you get a better grasp on retirement income and how vulnerable it is to these unprecedented times. Moving from the accumulation to the preservation and retirement income stage of your life requires you to change your mindset and that can be difficult for people. Planning can ensure you’re making the best decisions about Social Security, pensions, and where to withdraw the money you need. 

Instead of feeling like you have to make a move out of fear, people should channel those feelings and use them for motivation to learn what you can do to protect your finances. There’s never one solution or product that is always the right move. Instead, it takes a balanced approach and a process like our Redefining Wealth® to make sure we’re not making the wrong decisions at emotional times.

Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/

Rate, Review and Subscribe to the Podcast:

https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laura-stover/id571347188

How to Connect:

redefiningwealth.info

lswealthmanagement.com

Schedule a Review: https://redefiningwealth.info/schedule/

Timestamps (show notes):

2:58 – Changing your mindset in uncertain times

6:49 – Balanced approach and process to drive planning

11:41 – Assessing the vulnerability of retirement income

13:39 – Social Security cost of living adjustments

17:13 – Leveraging your pension

22:35 – Having a withdraw strategy  

25:03 – Understanding the fees you’re paying

 

Listen & Subscribe

Click the logos below.

Latest Retirement Talk Podcast Episodes

175. What Clients (Actually) Value Most in a Financial Advisor

175. What Clients (Actually) Value Most in a Financial Advisor

In this episode of Retirement Talk: The Redefining Wealth Show, Laura Stover, RFC® and Michael Wallin, CFP® delve into what clients value most in a financial advisor. The importance of effective communication between clients and advisors and the need for a...

174. What is an Annuity and When Is It A Smart Investment?

174. What is an Annuity and When Is It A Smart Investment?

Today, Laura Stover, RFC® and Michael Wallin, CFP® discuss the importance of planning for retirement income and the role of annuities in retirement planning. They start by emphasizing the significance of having a solid plan in place, especially in the face of economic...

171. Are You Making These 5 Common Portfolio Mistakes?

171. Are You Making These 5 Common Portfolio Mistakes?

  Investors often underestimate the risk in their portfolio.  Today,  Laura Stover, RFC® and Michael Wallin, CFP® break down 5 common portfolio mistakes, as outlined by Christine Benz in Morningstar.  They are portfolio sprawl, when your assets often overlap and...

170. Retirement Risks

170. Retirement Risks

 Retirement planning involves mitigating risk and understanding the various risks that retirees face. Laura Stover and Michael Wallin break down these risks today, including reduced earnings capacity, visible spending constraint, heightened investment risk, unknown...