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How do you know if the retirement goals you set are actually achievable? In this episode, we walk you through the basics to help you determine if the goals you set are achievable in retirement. It is easy to set goals for retirement, but it can be difficult to know if those goals are feasible or if they will eventually catch up to you later in retirement. What we have found is that it is important to focus on your needs goals first. Making sure that your retirement lifestyle can be maintained is key. Once you have confidence that your financial needs can be met, then you can add in your “want” goals. Things like travel or vacation homes or new cars. Adding those “want” goals one by one and stress-testing your retirement plan after each one is added will give you confidence that your retirement lifestyle won’t be impacted by one single event or purchase.
Inflation came in at the highest level in 4 decades. We spend time discussing the impact that inflation is having on retirees. There has been an increase in the number of people who are retired that are being forced back to work inflation has made retirement challenging. What can you do to limit the impact of inflation?
Most people have created a bucket list at some point in their life. Many retirees might create one before retirement to make sure they accomplish as much as they can during their retirement. Does creating a bucket list actually lead to dissatisfaction? What about creating a reverse bucket list? We take time to discuss how you can find satisfaction in retirement by reducing the number of things you want in retirement as opposed to increasing the things you have.
All that and more on this episode of our retirement podcast The Retire Once Show
-Johnathan Rankin CRPC® CEPA®, Founder & CEO,
- Melissa Rankin - Wealth Management Advisor
Theorem Wealth Management
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CHAPTERS
00:00 - Introduction
3:04 - Retirement goal setting
11:16 - What most retirees overlook
👉Click Here to Access Show Notes For This Episode
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