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Retirement Reality Podcast2019-09-12T12:00:04+00:00

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Retirement Reality Podcast
Retirement Reality Podcast
Weekly financial and retirement planning guidance with Mike Kojonen of Principal Preservation Services. Mike serves western Wisconsin and the Twin Cities areas of Minnesota. He's the co-author of Momma's Secret Recipe for Retirement Success and will impart financial wisdom each week on this podcast.
Ep 24: Retirement Planning and Farming
by Mike Kojonen

We spend a lot of time we researching and gathering information but some of the best guidance for retirement planning can be found right in front of us. We’ll show you that’s the case by taking farming and extracting five lessons that you can apply to your planning strategy.

 

Show notes and additional resources: https://principalpreservationservices.com/ep-24-5-retirement-lessons-you-can-gather-from-farming/ 

 

Today’s rundown: 

1:02 – Mike and his family own a hobby farm with multiple animals.

2:20 – Let’s take farming and relate it to retirement planning.   

2:33 – The first lesson is understanding liquid vs non-liquid assets.

5:08 – The second lesson we can find in the chicken and the egg. 

8:13 – The third lesson is protecting yourself from risk like predators on a farm.

10:34 – Long-term care is another predator people don’t always consider.

11:53 – Hidden fees is the last one that can attack your ‘chickens.’

12:30 – The fourth lesson is a diversity of crops to make sure your business isn’t too reliant on any one asset.                                                                                                                                                            

15:39 – The final lesson can be taken from the rooster.   

17:31 – Mailbag question: I’d really like to meet with a financial advisor but my husband says we’re fine handling our investments ourselves. Is that okay to do on our own?

Ep 24: Retirement Planning and Farming
Ep 23: Lies Learned in Broker School
Ep 22: Is Having ‘Cash’ Good or Bad
Ep 21: Be Aware of Bias in Financial Media
Ep 20: Do You Need to Be Debt Free to Retire?
Ep 19: The Ins and Outs of Mutual Funds
Ep 18: Are You Making These Excuses to Avoid Retiring?
Ep 17: 5 Traits Your Financial Advisor Should Have
Ep 16: Top 5 Biggest Social Security Misunderstandings
Ep 15: Finding the Silver Lining in 4 Challenging Financial Situations

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Episode Show Notes

2702, 2020

Ep 24: 5 Retirement Lessons You Can Gather From Farming

February 27th, 2020|Tags: , , , , , , , , , , , , |

We spend a lot of time we researching and gathering information but some of the best guidance for retirement planning can be found right in front of us. We’ll show you that’s the case by taking farming and extracting five lessons that you can apply to your planning strategy.

2002, 2020

Ep 23: Lies Learned in Broker School

February 20th, 2020|Tags: , , , , , , , , , , , , , |

A lot of financial professionals will tell you things that just aren’t true. That doesn’t mean they do it intentionally. Many times these professionals have been given talking points, which they might even feel to be true themselves. We want to talk about the statements you should be cautious of if you hear them from an advisor.

1302, 2020

Ep 22: Is Having ‘Cash’ Good or Bad

February 13th, 2020|Tags: , , , , , , , , , , , |

Of course we all want to have a healthy bank account and feel the security of knowing we have money at our disposal. Having plenty of cash on hand can help in the event of an emergency but building up your account too much can actually be a detriment to your retirement. Let’s talk about the situations where cash can be a benefit and the times when it can hurt you.

602, 2020

Ep 21: Be Aware of Bias in Financial Media

February 6th, 2020|Tags: , , , , , |

We live in an era where everyone has a platform and it’s more profitable to be entertaining than to be informative. That’s led to bias in media and finance is no exception. Let’s take a look at the most common places you’ll find bias and how to make sure you’re getting information that’s accurate for your retirement plan.

1601, 2020

Ep 19: The Ins and Outs of Mutual Funds

January 16th, 2020|Tags: , , , , , , , , , , |

Nearly everyone invests in mutual funds at one point or another, but is that the best strategy for your retirement plan? As the landscape continues to change, we wanted to look at the ins and outs of mutual funds to give you a better understanding of what you’re buying into. We’re joined by advisor Kasey Byrd to talk about our strategy when it comes to this investment option.

201, 2020

Ep 17: 5 Traits Your Financial Advisor Should Have

January 2nd, 2020|Tags: , , , , , , , |

How do you know if an advisor is a good fit? That’s a question that keeps many people from working with a professional so let’s identify the essential traits every advisor should possess. That might be easier said than done so let’s also talk about how you can determine whether an advisor has these characteristics.

1912, 2019

Ep 15: Finding the Silver Lining in 4 Challenging Financial Situations

December 19th, 2019|Tags: , , , , , , , , , , , |

Not everything goes as planned when it comes to your financial life, but how will you respond to difficult situations? We’ll look at some negative circumstances that many retirees and pre-retirees face and help you find the silver lining.

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