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Ep 9: Retirement Variables That Need to Factor Into Your Plan

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Ep #9: Retirement Variables That Need to Factor Into Your Plan

The Concept:

Retirement planning is most effective when it’s tailored to a specific individual’s needs but what factors should you pay the most attention to? We’ll discuss five retirement variables that will change from person to person but need to be considered when building a financial plan.

The Reality of the Matter:

Sitting down to build a plan for retirement can be equal parts getting a hold of what you can control and preparing for those things that you aren’t quite sure when or if they’ll impact you.

Today we want to discuss the latter by running through a list of retirement variables that will shape your retirement plan. These critical questions will get you thinking about how you want to handle each variable and might also make you see how valuable an advisor can be for plan.

Mike Kojonen will take us through five different variables on this episode of the Retirement Reality Podcast. We know each of these will impact all of us but it’ll vary from person to person. Mike will tell us how each item can differ and what you need to be focused on for your situation. He’ll also share some client examples along the way.

Here are the variables we’ll discuss:

  • How much income will we need?
  • How much will we pay in taxes?
  • How long should we expect to live?
  • When should I start Social Security?
  • How much money should be at risk when we retire?

Along with these important questions, Mike will also answer this one: what is your favorite move genre? That Getting to Know You segment will lead off the show.

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:

1:00 – Mike and his team have moved into a new office in Wisconsin office.

1:58 – Previewing our main topic today.

2:40 – Getting to Know Mike: What is your favorite movie genre?

4:28 – Retirement variable 1: How much income will we need in retirement?

7:55 – Retirement variable 2: Taxes

10:32 – Retirement variable 3: Our life expectancy

12:09 – Retirement variable 4: At what age should I take Social Security.

15:32 – Retirement variable 5: Risk

Related Content:

Why the Final Decade of Work is So Important for Retirement

5 Financial Myths That Need to Be Busted

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