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: / jeremiahjlee
Email: Jeremiah@tricordadvisors.com
Connect with Laura:
LinkedIn: / laura-lee-59a83610
Email: Laura@tricordadv.com
Connect with Randy:
LinkedIn: / rkbarkley
Email: Randy@tricordadv.com
Information and ideas discussed are general comments and cannot be relied upon as pertaining to your specific situation, do not constitute legal/financial advice, and do not create an attorney-client or fiduciary relationship. Examples discussed are fictional. You should consult your own advisor/attorney and do your own diligence prior to making any decisions. Investments involve risk and the possibility of loss, including the loss of principal. All situations are different, and results may vary. Randy Barkley is a life insurance agent CA license # 0518567 and Jeremiah Lee is a California licensed attorney and is responsible for this communication. Advisory services offered through TriCord Advisors, Inc., a Registered Investment Advisory firm.
