Ep 35: What To Do as You Count Down the Days to Retirement

If you’re counting down the days until retirement, we have a checklist of things you need to keep in mind. We’ll help you get ready for the big day and make sure you are ready financially and otherwise.
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Show Notes For This Episode

It can be nerve-wracking and exciting to count down to retirement. Are you really ready? Are your finances in order? On this episode of Saving the American Dream, we’ll explain what you need in place to make the countdown more peaceful.

Getting healthy

Health and wealth are inseparable because if you have a lot of money but you have bad health, your health issues could rob your balance sheet down the line.

If you’re planning on living a long time, it’s really important to get healthy and stay healthy so that you can have as many quality years as you possibly can. The healthier you are, the less money that you’re going to have to pay toward healthcare expenses. You can then reroute that money to doing things that you enjoy

Planning your free time

What do you want to do with all your free time once you retire? Free time could mean more spending. Depending what you do with your free time is going to determine how much income that you’re going to need each year to fund your retirement.

Realistically, it could be a difference of an additional $30,000 you need each year for your retirement. You definitely need to do some planning around that.

If you’ve been working 40 hours a week for your whole career and don’t have a plan for your free time, you might drive your spouse nuts. Try to fill that free time with things that bring you joy and you feel passionate about.

On today’s show, we also share some mistakes people make in retirement, such as letting your emotions take control. To hear some common mistakes, listen to the full podcast or use the timestamps below to jump to a specific section.

Navigating the Show

[1:50] Getting healthy

[4:00] Free time

[5:54] Work

[7:17] Save more

[9:26] Debt

[11:02] Risk

[14:24] Emotion

[17:26] Taxes

[19:31] Cash

[23:07] Overthinking

[23:47] Advice

 

“Health and wealth are inseparable, because if you have a lot of money but you have bad health, your health issues could rob your balance sheet down the line.”

– Michael Schulte

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Copyright 2020 Saving The American Dream Podcast. Michael Schulte is an investment advisor representative and certified exit planner with WestPac Wealth Partners, located at 330 South Center Street, Suite 344, Casper, Wyoming 82601. The podcast is for informational purposes only. Individual risks and investment objectives must be reviewed prior to making any recommendations. Podcasts are for informational purposes only. Any guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or WestPac Wealth Partners and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. Michael is a Registered and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 5 Centerpointe Dr Suite 150, Lake Oswego, OR 97035, 503-207-4550. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. WestPac Wealth Partners is not an affiliate or subsidiary of PAS or Guardian. 2020-105459 Exp 07/22.