In this Episode, Laura, Jeremiah and Randy discuss the critical catastrophes to avoid as individuals approach retirement. They emphasize the importance of planning for healthcare costs, the timing of Social Security benefits, and the necessity of estate planning. The discussion highlights common mistakes, such as overspending in early retirement and neglecting to stress test financial plans. This episode is full of insights into how to navigate these challenges effectively, ensuring a secure and fulfilling retirement.
In This Episode:
Fear of outliving money is a common concern.
Healthcare and long-term care planning are crucial.
Claiming Social Security too early can reduce benefits significantly.
Estate planning is essential to avoid complications later.
Investing strategies should adapt as one ages.
Stress testing financial plans helps identify potential issues.
Inflation can erode purchasing power in retirement.
Overspending in early retirement can lead to future financial strain.
Target date funds may need adjustments for longer retirement horizons.
Planning with a trusted advisor can mitigate retirement risks.
Reach out at contact@tricordadvisors.com
Connect with Jeremiah:
LinkedIn: https://www.linkedin.com/in/jeremiahjlee/
Email: Jeremiah@tricordadvisors.com
Connect with Laura:
LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/
Email: Laura@tricordadv.com
Connect with Randy:
LinkedIn: https://www.linkedin.com/in/rkbarkley/
Email: Randy@tricordadv.com
