Description

The Witty Wallet Podcast

Episode Title: How much do I need to retire comfortably - Part 2

Episode Description: The discussion continues in this second episode of this 3-part series! As a financial advisor, I get asked an important question all the time: "How much do I need to retire comfortably?". In this episode, we focus on why you need to plan for your retirement and think of it in terms of cash flow needs. Additionally, we explore the concept of adopting a flexible spending plan for your discretionary expenses by taking more out of your portfolio in an up market and less in a down market.

• Uncontrollable factors in retirement
• Loss aversion bias
• Sequence of return risks
• Importance of cash flow planning
• Adopting a flexible spending plan

1. Uncontrollable factors in retirement

• • Inflation risk
  • Longevity risk
  • Market risk
  • Healthcare costs
  • Portfolio shock risks

1. Loss aversion bias and sequence of return risk

• Role of these factors during the decumulation phase of retirement
• The impact on your retirement savings and spending strategy

1. Importance of cash flow planning

• Ensuring your income needs are met during retirement
• Creating a sustainable withdrawal strategy

1. Adopting a flexible spending plan

• Balancing discretionary expenses
• Modifying spending during up and down markets

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Tune in next week for the final episode of this series. Don't forget to subscribe to The Witty Wallet Podcast to never miss an episode!

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