Ep 10: Retirement Constants That Affect Everyone

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Ep #10: Retirement Constants That Affect Everyone

The Concept:

While there are some factors that are different for everyone in retirement planning, there are also constants that affect everyone, no matter the specifics of your situation. How do we plan around these constants? We’ll explore that question on this episode.

The Reality of the Matter:

In our last episode, we discussed many of the retirement variables that will impact your plan differently than other people. Now let’s talk about the things that we can definitely plan for.

There are five retirement constants that affect every person, no matter what your situation is or what you want your retirement to look like. Building a financial plan around each of these will allow you to build a strong portfolio.

Mike will take us through each of these constants and explain how you can prepare your plan for them and be in a position of strength when dealing with each. The five we will address on this episode of the Retirement Reality Podcast are:

  • Inflation
  • Rising Taxes
  • Market Volatility
  • Healthcare
  • Fees and Commissions

Before we get into our main discussion, we’ll take two listener questions about 401k investments and advisor communication.

We’ve laid out the discussion below to make your listening experience more organized. Feel free to click the timestamps to jump around to a specific topic in the episode.

Just The Facts:

1:06 – Mike’s daughter is getting married in a couple days.

2:29 – Previewing today’s show.

2:48 – Mailbag question: Most of my 401k is invested in company stock. Is that a bad thing?

4:28 – Mailbag question: How long should I be meeting with my advisor? I get a birthday card every year but that’s about it.

5:48 – Let’s move to our main topic on retirement constants.

6:18 – Retirement constant: Inflation

7:24 – Mike shares the story of the first car he bought.

9:36 – Retirement constant: Rising taxes

11:22 – Retirement constant: Market volatility

13:42 – Retirement constant: Healthcare costs

15:59 – Retirement constant: Fees and commissions

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