Shows
Retirement Reality PodcastDo Smart Investors Really Need a Financial Advisor?If you’ve spent years successfully managing your own investments, do you really need a financial advisor? That’s the question Bob, one of our listeners, sent in. He’s got an MBA, knows the markets well, and has always handled his portfolio solo.
So, is working with an advisor just an extra expense, or could it actually add real value? In this episode, we break down when and why even experienced investors might benefit from professional guidance and when they’re probably fine on their own.
Here’s what we discuss in this episode:
0:00...
2025-02-2011 minRetirement Reality PodcastSocial Security Claiming Tips for Unique SituationsSocial Security claiming strategies can vary greatly depending on family dynamics. This episode explores how different family situations, such as those with a stay-at-home spouse or a blended family, can impact when and how to claim Social Security benefits to maximize your retirement income.
Here’s what we discuss in this episode:
0:00 - Intro
1:26 – Single-income households
3:53 – Coordinating claiming strategies
6:39 – Blended families
9:33 – Disabled family members
11:09 – Mike’s advice for claiming
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Phone: (855) 987-8888
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2025-02-1313 minRetirement Reality PodcastThe Snowbird Retirement: Is a Seasonal Move Right for You?Winter has a lot of people thinking about warmer weather. For some, that just means an annual vacation down south. But for certain retirees, they choose to live elsewhere through the brunt of winter, becoming “snowbirds.” Is snowbird life for you? Let’s talk about what motivates people to take up temporary residence elsewhere, where they go, and if it’s worthwhile.
Here’s what we discuss in this episode:
0:00 - Intro
1:50 – How common is this?
3:10 – Trying it before retirement
4:30 – What you need to know
6:24 – How a financial advisor...
2025-02-0609 minRetirement Reality PodcastInflation-Proof Your Retirement in 2025Inflation has been a hot topic in recent years, and its impact on retirement planning is arguably bigger than ever. As prices for everyday goods and services continue to rise, understanding how to effectively manage these changes is essential for securing a comfortable retirement. Let’s explore strategies for inflation-proofing your retirement and share a look into how we address this in our planning.
Here’s what we discuss in this episode:
0:00 - Intro
1:32 – How inflation changes planning
3:04 – Inflation rate average
4:15 – Inflation’s impact over time
6:08 – Investment strategies...
2025-01-3011 minRetirement Reality PodcastHow To Change Your Money Attitude In 2025As we kick off 2025, a lot of people consider what they want the year to look like and how to put their best foot forward, especially financially. Think: “new year, new me!”
Today, we’ll talk about the financial decisions and habits you’ve maybe had in the past and what changes you can make this year to embrace the new you.
Here’s what we discuss in this episode:
0:00 – Intro
1:20 – Overspending
3:29 – Saving to a fault
5:28 – Not knowing what you have
7:30 – Pausing your investing
9:47 – Not having...
2025-01-2312 minRetirement Reality PodcastHow Should You Invest Money That You’ll Need To Use In Three Years?The majority of the investment planning you do for retirement is aimed at long-term success, but what can you do with the money you’ll need in the next few years? You don’t want to put those funds at risk when there’s a major purchase like a wedding or a new car coming in the near future.
So what can you do with that money to keep it from being stagnant in the interim? This show will discuss the pros and cons of traditional banking, money markets, fixed annuities, and structured notes.
Here’s what w...
2025-01-0909 minRetirement Reality PodcastRetirement Spending Strategies That Will Help You Spend With ConfidenceIt’s the beginning of a new year – a time when many of us make resolutions to improve our lives. But how often do we resolve to improve the way we feel about our finances? Today, we’re talking about spending with confidence, a surprising challenge for many retirees.
Here’s what we discuss in this episode:
0:00 - Intro
1:19 – Why the reservations?
4:20 – Easing spending fears
5:59 – Overconfidence
8:00 – Spending strategies
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2025-01-0212 minRetirement Reality PodcastAre Future Retirement Worries Harming Your Mental Health TODAY?Join us as we explore the evolving benchmarks for retirement savings, the importance of proper planning over mere goal-setting, and the role of charitable contributions in financial strategies. We’ll break it all down and explore what these new numbers mean for your financial future.
Here’s what we discuss in this episode:
0:00 - Intro
1:28 – Is there a universal retirement benchmark?
2:41 – Charitable giving
4:23 – The fear of never being able to retire
5:30 – Average 401k contribution
7:11 – Target date funds
8:44 – Roth 401ks
10:24 – Taking care of yourself in the...
2024-12-2613 minRetirement Reality Podcast2024's Best Stocking Stuffers for Financial Freedom🎄 The holiday season is here! As you're busy stuffing stockings for your loved ones, don’t forget to stuff your own financial stocking with tips that bring you closer to a secure retirement. 🎁
Here’s what we discuss in this episode:
0:00 - Intro
1:03 – Maxing out contributions
2:04 – Reviewing your Social Security strategy
3:55 – Consolidating old retirement accounts
5:28 – Bucket strategy
7:07 – Revisit your estate plan
8:40 – Planning for inflation
10:05 – RMDs
11:11 – Risk tolerance
12:54 – Emergency funds
14:39 – Financial checkups
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2024-12-1917 minRetirement Reality PodcastRetirees Have a Serious Temptation ProblemRetirees face serious financial temptations that can jeopardize their future, but there are smart ways to avoid them. In this episode, we’ll reveal the most dangerous temptations the average retiree faces and share strategies to help you avoid them, or correct your current course, to keep retirement on track.
Here’s what we discuss in this episode:
0:00 - Intro
1:00 – Debt
3:45 – Missing out on a 401k match
5:09 – Deferring taxes
8:23 – Taking Social Security early
10:28 – Concluding thoughts
Text RETIRE to 21000 to Begin Building Your Retirement Reality Roadma...
2024-12-1213 minRetirement Reality PodcastWhat Financial Advisors Wish Every Investor Knew (Part 2)Today it’s part two of our discussion about the crucial insights every investor should know before stepping into a financial advisor's office.
This week, learn about the importance of comprehensive planning beyond investments, the emotional side of financial decisions, and the value of diversification. Discover why financial planning isn't just for the wealthy and the significance of working with a fiduciary. Plus, get insights on maintaining regular reviews of your financial plan and why consistent contributions to your 401k matter more than market timing.
Here’s what we discuss in this episode:
0:00 – Intro
2024-12-0513 minRetirement Reality PodcastWhat Financial Advisors Wish Every Investor Knew (Part 1)Imagine you could read your financial advisor’s mind before you even walked through the door for the first time. What would they want you to know? In this episode, we bring you the game-changing insights financial pros wish every saver and investor understood.
Here’s what we discuss in this episode:
0:00 – Intro
2:02 – Investment costs
3:40 – Real risk
5:40 – Motivation behind information
8:06 – Setting realistic goals
10:27 – Long term over short term
11:35 – One-size-fits-all planning
Text RETIRE to 21000 to Begin Building Your Retirement Reality Roadmap.
Lea...
2024-11-2614 minRetirement Reality PodcastPension & Retirement Plan Contribution Adjustments for 2025As we rapidly approach 2025, it's essential to stay informed about the latest changes in retirement contribution limits and tax brackets. In this episode, Mike will update you on what adjustments are being made to key pension and retirement plan limits, providing listeners with the knowledge needed to maximize their retirement savings.
Here’s some of what we discuss in this episode:
0:00 – Intro
1:13 – 401k contributions
2:47 – IRA limits
3:27 – Standard tax deductions
4:17 – Tax bracket income thresholds
5:14 – Social Security COLA increase
6:37 – Impact on planning
Text RETIRE to...
2024-11-2109 minRetirement Reality PodcastSocial Security Shake-Up: How Raising the Retirement Age Could Impact YouSocial Security has long been a cornerstone of retirement planning for millions of Americans, providing a crucial safety net in their golden years. However, recent proposals suggest significant changes could be on the horizon, potentially altering the landscape of retirement as we know it.
Here’s some of what we discuss in this episode:
Brendan Boyle’s request for information from the Congressional Budget Office regarding raising the age for full Social Security benefits.
The increased penalty that could come if you claim Social Security benefits early.
Why is Congress considering making changes to Social Security?
Stra...
2024-10-3116 minRetirement Reality PodcastWhat Makes Our Financial Planning Approach Unique?Every firm has distinct principles that guide its approach to financial planning. In this episode, we take you behind the scenes to explore the core values and unique processes that set Principal Preservation Services apart. We’ll walk you through how we get to know our clients on a deeper level, create personalized financial strategies, and how our approach redefines what it means to have a successful financial planning experience.
Here’s some of what we discuss in this episode:
The importance of education and understanding in the financial planning process
The core values that guide Prin...
2024-10-1720 minRetirement Reality PodcastRetirees In Their 70s Regret These 5 ThingsA random, retired YouTuber did a simple video exploring the top 5 regrets from other retirees he interviewed (all in their 70s). It blew up to almost half a million views (and counting). Let’s see what regrets made the list and, more importantly, explore what proactive steps you can take to avoid having the same regrets when you retire.
Be sure to stay tuned until the end of the episode as Mike answers two questions from the listener mailbag!
Here are the regrets we discuss in this episode:
They wish they had retired earlier
Th...
2024-10-0321 minRetirement Reality PodcastUnusual Fears & Financial Planning: Lessons from the Strangest PhobiasIn this episode, we’re exploring some of the world’s most unique and quirky fears—and believe it or not, they have a lot more in common with your financial life than you might think.
From the fear of long words to the fear of peanut butter sticking to the roof of your mouth, we’ll navigate through a list of some of the world’s most peculiar fears and draw parallels to financial planning. Mike shares his insights on how these fears can manifest in our financial decisions and offers practical advice on how to overcome t...
2024-09-2619 minRetirement Reality PodcastFinancial Mailbag: Retirement Savings, Life Insurance Claim, Finding an Advisor & MoreIn this special mailbag edition of the show, Mike answers a wide range of listener questions. From life insurance and alimony to savings and retirement planning, this episode covers many of the financial planning conversations we have with clients every day.
Here are some of the questions we’ll answer in this episode:
I’ve heard that you need to have between 15 and 20 times your annual salary in savings to be able to retire comfortably—do you think that’s accurate?
It seems that all of the experts I hear say that you should work unti...
2024-08-2219 minRetirement Reality PodcastHow Kids & Grandkids Influence YOUR Retirement PlanningRetirement planning is a complex process that requires careful consideration of various factors, including the needs of your family. In the latest episode, Mike shares valuable insights on how children and grandchildren can significantly impact retirement goals and offers practical advice on how to navigate these challenges.
Here’s some of what we discuss in this episode:
More and more parents are providing financial support for their adult children.
Parents who had kids later in life are still paying for college heading into retirement.
People who want to be very intentional about leaving a fin...
2024-08-0825 minRetirement Reality PodcastThe Top 401(k) FAQs in 2024Mike gets a lot of questions about 401(k)s and knows they can be tricky to navigate. That's why we're tackling your top questions in one comprehensive episode. From understanding target date funds to adjusting your investments as you near retirement, this conversation will cover a wide range of essential topics. Listen in to see what you can learn!
Here’s some of what we discuss in this episode:
Should I contribute as much as I can to my 401k or only as much as the company will match?
Is taking a 401k loan alw...
2024-07-2526 minRetirement Reality PodcastCan You Retire on $42/Month?Imagine retiring comfortably on just $42 per month—sounds too good to be true, right? Well, it’s exactly the assertion you might have seen in the headline of a recent article online.
Here’s some of what we discuss in this episode:
Is this article clickbait or is there some value to it?
Some strategies you need in order to save for retirement.
What are some realistic savings goals that people should have?
The role planning plays in helping you reach your goals and save enough money to enjoy retirement.
Read the arti...
2024-07-1116 minRetirement Reality PodcastClearing Up Some Common Financial Half-TruthsWe hear a lot of half-truths in the financial world, not necessarily because people try to make misleading statements, but because sometimes a simple statement just doesn’t quite tell the whole story. Join Mike as he goes over some common financial half-truths to try and help clear some things up and put your mind at ease.
Here’s some of what we discuss in this episode:
Knowing how much you are paying in fees.
Weighing whether to invest or finish paying off a low-interest mortgage early.
Planning for retirement even when you plan to wo...
2024-06-2720 minRetirement Reality PodcastTake the Fork: Yogi Berra's Wisdom on Making Financial ChoicesIn this episode, we’re diving into some famous words by the one and only Yogi Berra. You might know him for his legendary baseball career, but Yogi was also a goldmine of wisdom. So, what can we learn from Yogi about retirement planning?
Here are some of the quotes we’ll unpack in this episode:
“I never said most of the things I said.”
“A nickel ain’t worth a dime anymore.”
“If you don’t know where you’re going, you might wind up some place else.”
“The future ain’t what it used to be.”
"You can ob...
2024-06-1316 minRetirement Reality PodcastRetiree Insurance: The Basics You Must KnowWhat types of coverage should you be considering for your golden years? What do you need to keep in mind as you prep for the transition? We’re going to walk you through the fundamentals in today's episode, covering health insurance, long-term care insurance, life insurance, and more.
Here’s some of the mistakes we discuss in this episode:
Why your health insurance coverage might change and how can you bridge the gap to Medicare?
The different parts of Medicare and what it does/doesn’t cover.
Why you would want to consider long-term care in...
2024-05-3025 minRetirement Reality PodcastMistakes When Choosing A Financial AdvisorIn this episode, we’ll uncover the critical mistakes many make when choosing a financial advisor. We're cutting through the noise to highlight what often goes wrong- from misplaced trust in big names to overlooking the fine print. This episode is your essential guide to avoiding those pitfalls and making informed decisions that align with your financial goals.
Here’s some of the mistakes we discuss in this episode:
Not understanding how the advisor gets paid
Putting too much trust in a recognizable national brand name
Not checking credentials or the advisor’s background
Not cov...
2024-05-1622 minRetirement Reality PodcastExpectation vs. Reality: The Truth About Retirement PlanningWhen we think of retirement, we often imagine endless days of relaxation, travel, and leisure. But how much of this is a dream versus reality? Today, we'll explore why a realistic approach to retirement, inclusive of financial planning and the potential for unexpected challenges, is crucial.
Here’s some of what we discuss in this episode:
Understanding what retirement will realistically look like for you and planning accordingly
Accounting for changing expenses, from health insurance to cell phone bills
Being ready to adjust your plan in response to market volatility, health changes, and inflation
Not...
2024-04-2518 minRetirement Reality PodcastRetirement Questions That Younger Generations are AskingEach generation is currently navigating a unique part of the retirement planning experience. With many baby boomers preparing for the transition into retirement and the early half of Generation Z taking their initial steps into the career field, these major life events come with a handful of financial planning questions.
In this episode, we're covering the retirement questions that Gen X, Millennials, and Gen Z are asking.
Here’s some of what we discuss in this episode:
How do you know how much you need to have saved and how to you tel...
2024-04-1128 minRetirement Reality PodcastRetirement Questions Every Generation Is Asking (Baby Boomers)Each generation is currently navigating a unique part of the retirement planning experience. With many baby boomers preparing for the transition into retirement and the early half of Generation Z taking their initial steps into the career field, these major life events come with a handful of financial planning questions. Over the next few weeks, we’ll share insights into the unique concerns that echo across different age groups.
We're starting this series with the baby boomer generation, as a majority of Mike's clients belong to this demographic.
Here’s some of what we di...
2024-03-2820 minRetirement Reality PodcastHow Is Technology Redefining Retirement Planning?Today we will unpack the toolbox of technology that's promising to redefine retirement planning, but does it deliver? This episode takes a critical look at the wave of innovations, from personal finance management software to online calculators, and questions whether they truly simplify the planning process or introduce new complexities.
Here’s some of what we discuss in this episode:
The rise of robo-advisors and the ways they aren’t able to keep up with comprehensive planning.
Online calculators work for some things but can’t take into account all the factors we can in a pr...
2024-03-1423 minRetirement Reality PodcastHow One Overlooked Issue Can Sink Your RetirementIn today’s episode, we spotlight some of the single oversights that could send your dreams to the bottom. We'll share key strategies to plug the gaps, ensuring your financial ship stays buoyant and on course. Tune in to protect your future from the one mistake that could derail everything.
Here’s some of what we discuss in this episode:
The importance of having a robust financial strategy that ensures a steady income throughout retirement.
Investment strategies to keep pace with, or beat, inflation.
You have to consider long-term care costs in retirement planning.
Strat...
2024-02-2218 minRetirement Reality PodcastRetirement Planning Is Different For Women: Here’s WhyIn this episode, we’ll share some eye-opening statistics and actionable advice to empower women in their financial journey. From the persistent gender pay gap to the impact of caregiving responsibilities and higher debt burdens, this is why retirement planning is different for women.
Here’s some of what we discuss in this episode:
Even though they make up almost half of the workforce, women receive lower compensation than men across almost every occupation.
Women are more likely to face career interruptions.
Longer life expectancy and divorce can create additional challenges for women when they’...
2024-02-0819 minRetirement Reality PodcastWith Higher Interest Rates, Is “Lazy Money” Still A Concern In 2024?Is 'Lazy Money' still a concern in 2024's higher interest rate landscape? In this episode, we explore this question, examining how the recent rise in interest rates affects the money sitting in savings accounts, CDs, and conservative investments.
Here’s some of what we discuss in this episode:
What do we mean by lazy money?
Why we should still be concerned about having too much lazy money.
The dangers to your retirement if you’re too conservative.
How we help people shift their mindset and look at other investment options.
To get in...
2024-01-2517 minRetirement Reality PodcastWill The Economy Boom Or Bust In 2024?Everyone wants to know. Will the economy boom or bust in 2024? Join us as we explore a range of expert predictions, from the shifting trends in housing prices to the looming question of a potential recession or stock market crash.
Here’s some of what we discuss in this episode:
Why Mike feels bullish about real estate in the upcoming year.
Is a recession coming in 2024? Mike says there’s a lot of momentum heading into this year.
There are two vastly different stock market predictions for the coming year. Which one will be right...
2024-01-1119 minRetirement Reality PodcastPatience Pays: The Power of Delayed Gratification (Part 2)Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit, when you should really consider the delayed rewards.
In part two of our discussion, we’re going to talk through four more situations which people commonly pick the option that gives them a benefit now. Many people aren’t making these choices intentionally so our goal is to help you understand why patience pays in these scenarios.
2023-12-2819 minRetirement Reality PodcastPatience Pays: The Power of Delayed Gratification (Part 1)Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit when you should really consider the delayed rewards.
Here’s some of what we discuss in this episode:
It might not seem like a big deal to miss a 401k contribution and the company match once or twice, but you don’t ever want to leave free money on the table.
The tax benefits for contr...
2023-12-1419 minRetirement Reality PodcastFinancial Tweaks That Matter: Small Steps, Big ImpactEver thought that minor tweaks in your financial plan could lead to major wins? In this episode, we're exploring the surprisingly powerful world of simple financial adjustments. From finding the right balance in your cash reserves to consolidating old 401Ks, we're unpacking those seemingly small steps that can bring about big, positive ripples in your financial life.
Here are a few of the financial tweaks that we discuss in this episode:
Keeping the right amount of cash on hand for emergencies
Consolidating your old 401ks
Reassessing your managed accounts to ensure they align with y...
2023-11-3024 minRetirement Reality PodcastEnd of Year Financial Planning For 2023We're nearing the end of the year, but it's not quite over yet! Join us for a thoughtful episode where we unpack our 2023 edition of key year-end planning strategies for those nearing or embracing their retirement years.
Here’s some of what we discuss in this episode:
Regularly reassessing and rebalancing investment portfolios
Tax-loss harvesting, required minimum distribution (RMDs), and qualified charitable distributions (QCDs)
Reviewing medical, life, and long-term care insurance
Budget and expense management + Social Security cost of living adjustments
Proactively planning for downsizing + relocating in retirement
Staying informed about cybersecurity threats
Gifting to...
2023-11-1621 minRetirement Reality PodcastMoney Mistakes You’ll Regret and How to Avoid ThemEver wish you could foresee financial missteps before they happen? On today’s episode explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you.
Here are the mistakes we’re going to talk through:
I regret taking premature IRA withdrawals.
I spent way too much in my peak earning years.
I paid so much in tuition for the kids.
I retired a bit too early and now it’s costing me.
Maybe I should have investigated opportunities for Roth IRAs.
...
2023-10-2626 minRetirement Reality PodcastRetirement Planning for High-Net-Worth IndividualsIn today's episode, we're taking a close look at high-net-worth individuals - those who have accumulated significant wealth and face unique challenges and opportunities when planning for retirement. Unlike the average person, their financial considerations go beyond the basics. We'll explore the distinct strategies and factors that come into play when securing a comfortable and prosperous retirement.
Here’s some of what we discuss in this episode:
How Mike would define a high-net-worth individual?
Some of the complex situations that these people might run into.
How we work with a client’s CPA to make...
2023-10-1222 minRetirement Reality PodcastUnderstanding RMDs: A Guide For Retirees & The Soon-to-RetireAre you over 55 and pondering retirement? Dive into the world of Required Minimum Distributions (RMDs) with us. In this episode, we demystify the reasons behind mandatory withdrawals from your retirement savings.
Discover strategies to potentially avoid them and understand the risks of not preparing in advance. And for those fortunate to not rely on RMDs for income, we'll explore impactful ways to utilize those funds. We see people get caught off-guard by RMDs and the tax impact they have on retirement, so getting a jump on planning can go a long way.
Here ar...
2023-09-2823 minRetirement Reality PodcastNavigating Finances After Losing a Spouse: Strategies & Mistakes to AvoidLosing a spouse is an unimaginably tough life event, but the financial implications can add another layer of stress to the grieving process. In this episode, we delve deep into the most common financial issues faced by widows and widowers, from dealing with income gaps to navigating tax changes as a single filer.
We explore actionable strategies to address these problems, such as the importance of life insurance and the ins and outs of spousal pension continuation. This is the episode for you if you’re concerned with ensuring the financial well-being of your remaining fam...
2023-09-1424 minRetirement Reality PodcastNavigating the Transition to a New Financial AdvisorIn today's episode, we'll explore the sensitive and significant process of transitioning from one financial advisor to another. We'll cover how to recognize when your current advisor may no longer be serving your financial needs effectively, the right questions to ask, and crucial factors to consider when searching for a new financial partner.
Here are some key topics to listen for in this episode:
What are some of the reasons people decide they need to make a change?
What are the financial consequences of switching advisors?
The different metrics you can use to evaluate y...
2023-08-2421 minRetirement Reality PodcastEp 111: Four Ways The SECURE Act 2.0 Might Impact YouAfter being discussed in Congress for nearly a year and a half, the SECURE Act 2.0 passed in January. On today’s show, we’ll explain what you need to know and learn four ways the new changes might impact you.
From Required Minimum Distributions (RMDs) to catch-up contributions, we’ll explain what you need to know about the SECURE Act 2.0.
Here’s some of what we’ll discuss in this episode:
The Required Minimum Distribution age has been pushed back again. (1:54)
What’s happening with the special catch-up contribution. (5:07)
Now the 529 Plan has a Roth transfe...
2023-02-1615 minRetirement Reality PodcastEp 110: 5 Beneficiary Mistakes: Are You Accidentally Spoiling Your Retirement Plan?On this episode, we’ll address five common beneficiary mistakes that, unfortunately, a lot of people make. From making errors to naming minors as beneficiaries, we’ll break down some common blunders.
Are you making one of these beneficiary mistakes? If so, it could cost you and your loved ones dearly. Some of the simplest mistakes can completely spoil an otherwise well done retirement plan.
Here’s some of what we’ll discuss in this episode:
• Why you shouldn’t name minors as beneficiaries. (1:40)
• Why you should name alternative beneficiaries. (5:16)
• Why you shouldn’t nam...
2023-01-2616 minRetirement Reality PodcastEp 109: 10 Point Checklist For Retirement PreparednessAnother year is upon us and it’s a great time to ask yourself 10 questions to assess how ready you are for retirement to kick off 2023.
If you’re retiring this year, it’s essential to have some concrete answers to these questions. If you’re still a few years from the milestone, tune in so you can start thinking about these critical conversations.
Here’s some of what we’ll discuss in this episode:
Do I know exactly how much income I need every month? (1:55)
Do I know the ideal time to take socia...
2023-01-1225 minRetirement Reality PodcastEp 102: How Money Ads Catch Your AttentionWe’re bombarded with ads each day in all forms of media. But have you ever taken a closer look at these messages?
If we unpack some of these headlines and ads a little bit more, we’re able to clearly understand what emotions they’re trying to elicit. More importantly, we can figure out what companies are trying to sell us.
Here is some of what you’ll learn on this show:
What is meant by ‘invest like the 1%’? (1:49)
Tactics used to try and sell you something to help you invest more successfully. (3:19)
How advertise...
2022-09-2219 minRetirement Reality PodcastEp 92: Common Housing Questions from RetireesFor the majority of people in Minnesota and across the country, your house will be the most expensive asset you ever own or manage. That’s why it’s no surprise that it takes up a big slice of the financial planning conversation.
Retirement brings along another set of decisions to be made with your house so we wanted to address some of the most common ones we hear at Principal Preservation Services. From paying off your mortgage to considering a downsize, we’ll find out what Mike thinks about these housing topics and hopefully touch on someth...
2022-04-2818 minRetirement Reality PodcastEp 91: Important Retirement BirthdaysWhat are the important birthdays we need to take note of when planning for retirement? There are certain milestones that have a big impact on your plan. As you approach 50, you want to really start planning strategically. If you haven’t been saving much before, once you turn 50 you can actually participate in catch-up contributions.
A few years later at 59 ½, you can start taking out of those retirement accounts without the 10% penalty. At 62 you’re eligible to take Social Security, although whether you want to do so is dependent on your plan. What other important ages do you n...
2022-04-1422 minRetirement Reality PodcastEp 90: When Guessing in Retirement Planning Goes WrongIf you are someone that tackles financial planning on your own without the help of a professional, you might be relying too much on the guessing game. We’ve seen the end results of retirement without a plan and many times it’s not what the retiree had envisioned.
Today we’re going to identify some of the key planning areas that people often fall short and Mike will help provide some clarity. From income needs to inflation to healthcare costs, these are all things you need to have buttoned up before you hit retirement.
W...
2022-03-2420 minRetirement Reality PodcastEp 82: Opportunities for Retirement’s Late BloomersIf you are close to retirement age but don't think you've saved enough money, you might be in better shape than you realize. Additionally, there are ways to save more as you approach retirement. You are probably in your peak earning years, meaning you have more money than ever to put away for your future. On today's episode, Mike is going to discuss some opportunities for late bloomers approaching retirement. In what ways can you save more? Where in your budget can you move money around?
Get additional financial information: https://principalpreservationservices.com/episode-82-opportunities-for-retirements-late-bloomers/
2021-11-2323 minRetirement Reality PodcastEp 80: Tax Consequences on Retirement AccountsWhether you choose to invest in a tax-deferred account or not, you will need to have a tax plan. Knowing which accounts could benefit your situation is important. Today, Mike is going to break down different types of accounts and the pros and cons we see with each.
The accounts you should be investing in will depend a lot on your income level and retirement goals. Many of us have invested in tax-deferred accounts. Once you are in retirement you will have to start paying taxes on withdrawals. If you decide to pay taxes now, that may...
2021-10-2820 minRetirement Reality PodcastEp 79: Overconfidence in Retirement PlanningWhen our financial growth is going well it can create a false sense of overconfidence. You want to stay vigilant about protecting your financial plan.
On today’s episode, we are going to discuss places in our finances that we can be overconfident in. Even if the stock market has been great for the past 10 years, that’s no indication of how it will look in the next 5 or ten years. Some of us have an ideal number we want to reach in order to retire, but this may cause a false sense of security and overconfidence.
2021-10-1421 minRetirement Reality PodcastEp 77: Can You Wait on These Financial Decisions?When it comes to our finances, there are certain things that we shouldn't wait to address. A few of the most common things people tend to put off in their finances include taxes in retirement planning, paying off debt, Social Security, and making a financial plan. Whether you can wait on some of these topics will depend a lot on your situation. Mike is going to discuss some general rules and advice about waiting to act on these financial decisions.
Read and get additional financial information: https://principalpreservationservices.com/ep-77-can-you-wait-on-these-financial-decisions/
Wh...
2021-09-1623 minRetirement Reality PodcastEp 76: What the Financial Doctor OrderedSo you’re experiencing some concerning symptoms with your finances? Let’s visit with the money ‘doctor’ Mike Kojonen to see what financial prescriptions you might need to keep your retirement on track.
Read more and get additional financial resources here: https://principalpreservationservices.com/ep-76-what-the-financial-doctor-ordered/
What we discuss on this episode:
1:17 – Summer update
4:34 – Dizziness from market volatility
6:44 – Paralysis in financial decision-making because of too many options
8:40 – Anxiety from watching the news everyday
10:21 – High blood pressure from anger about receiving bad advice in the past
2021-08-2620 minRetirement Reality PodcastEp 71: Learning Through Uncommon SenseIf financial planning was simple, no one would need help. Even when we know what we’re supposed to do, it’s not always a certainty that we will.
On this episode of the Retirement Reality podcast, we’ll go through some common sense financial statements that ring true to all of us and Mike will explain why we often fall short in following this guidance. If you find yourself getting off-track, make sure you lean on an advisor to help you keep retirement planning on the right path.
You can listen to the full episod...
2021-06-1020 minRetirement Reality PodcastEp 70: Estate Planning for Life After Death with Patrick Boley (Part 2)On part two of our estate planning conversation with attorney Patrick Boley, we turn our attention to life after death to discuss the documents you need to have in place. That includes a detailed discussion on wills and trusts, along with the role probates play in the estate process.
Read more and get additional resources here: https://principalpreservationservices.com/ep-70-estate-planning-for-life-after-death-with-patrick-boley-part-2/
Check out Part 1: https://principalpreservationservices.com/ep-69-the-living-side-of-estate-planning-part-1/
What we discuss on this episode:
1:14 – Interview begins
2:44 – What happens if you don’t have docume...
2021-05-2039 minRetirement Reality PodcastEp 69: The Living Side of Estate Planning with Patrick Boley (Part 1)Through years of working with clients, we’ve seen that the estate side of planning often gets overlooked. That’s why we’ve asked attorney Patrick Boley of Eckberg Lammers to come on and talk to us about the living documents that every person needs in part one of a two-part series on estate planning.
Read more and get additional resources here: https://principalpreservationservices.com/?p=39915&preview=true
What we discuss on this episode:
1:01 – Welcome in Patrick Boley
2:09 – Background on Patrick
5:37 – Healthcare directive
8:04 – Specific statutes t...
2021-05-1328 minRetirement Reality PodcastEp 66: Things Nobody Says in the Financial Planning WorldOn today’s episode, we’re talking about things nobody says in the financial planning world and Mike explains why that’s the case.
Read more and get additional resources here: https://principalpreservationservices.com/ep-66-things-nobody-says-in-the-financial-planning-world/
What we discuss on this episode:
3:08 – I really regret putting money into my Roth IRA every year
4:33 – I should have spent more and saved less
6:00 – Life insurance payment was insulting
8:10 – It makes me feel patriotic to pay more in taxes
10:56 – I love big market corrections
13:35 – Mailb...
2021-01-1416 minRetirement Reality PodcastEp 65: Lessons Learned From Biggest Market Crashes of All-TimeOur country has been through some major market crashes over the years. What happened during those events and what can we learn from them?
Read more and get additional financial resources here: https://principalpreservationservices.com/ep-65-lessons-learned-from-biggest-market-crashes-of-all-time/
What we discuss on this show:
1:59 – Black Tuesday
3:50 – Dot com crash
6:25 – 2008
8:42 – 2020 coronavirus pandemic
10:34 – Lessons learned
14:28 – Contact Mike and his team
16:15 – Mailbag: Should I take Social Security?
18:03 – Mailbag: Husband doesn’t want to plan for retirement?
2021-01-0720 minRetirement Reality PodcastEp 63: Why Variable Annuities Are the Liver & Onions of the Financial WorldVariable annuities are a bit of an outcast, the liver and onions of the financial world. Why is that? What are the pros and cons? Mike explains on the show.
Read more and get additional financial resources here: https://principalpreservationservices.com/ep-63-why-variable-annuities-are-the-liver-onions-of-the-financial-world/
What we discuss on this show:
2:27 – Why variable annuities are hated on
5:31 – Do many people have variable annuities
7:25 – Many people don’t know they have variable annuities
8:50 – Fees
12:11 – Can you get out of a variable annuity
14:44 – Mailbag: Helping mo...
2020-12-1720 minRetirement Reality PodcastEp 62: In Financial Planning, the Customer Isn’t Always RightYou know the saying, “The customer is always right.” Well, that’s not always the case in the financial world. On this episode of the Retirement Reality Podcast, Mike Kojonen explains why you should rely on your advisor’s expertise.
Read more and get additional financial resources here: https://principalpreservationservices.com/ep-62-in-financial-planning-the-customer-isnt-always-right/
What we discuss on this show:
2:28 – Telling the customer they’re wrong
3:28 - Now is the time to get in or out of the market
6:20 - This is what I want to invest in. I wan...
2020-12-1019 minRetirement Reality PodcastEp 61: Is Diversification for Suckers?What does diversification mean to you? And is it good financial strategy? On this episode of the Retirement Reality Podcast, Mike Kojonen breaks down the reasons why it’s not always a good financial strategy.
Read more and get additional financial resources here: https://principalpreservationservices.com/ep-61-is-diversification-for-suckers/
What we discuss on this show:
1:58 – Get to know you: Mike’s go-to karaoke song?
4:01 – Warren Buffet quote about diversification
4:54 – Definition of diversification
7:07 – What is diversification?
8:36 - How much emphasis should be put on diversificatio...
2020-12-0317 minRetirement Reality PodcastEp 58: Five Financial Commandments to FollowOn this episode, we share five commandments that should be written on stone tablets in your retirement plan.
Read more here: https://principalpreservationservices.com/ep-58-five-financial-commandments-to-follow/
What we discuss on this show:
4:13 – Mike talks about a place he never wants to visit again
7:43 – Thou shall not compare your investments to the stock market without the proper context
9:21 - Thou shalt not give up before giving your strategy enough time to play out.
10:59 – Thou shalt not chase big returns too late in life.
13:39...
2020-11-1223 minRetirement Reality PodcastEp 56: Five Common Financial Mistakes in HindsightHave you ever looked back on a financial decision and thought, “I wish I would have done that differently”? Decisions about money are a lot easier with the benefit of hindsight. On this episode of the Retirement Reality Podcast, Mike Kojonen looks at five common money mistakes people have made this year.
Read more and get additional financial resources here: https://principalpreservationservices.com/39703-2/
What we discuss on this show:
2:19 – Getting out of the market
4:59 – Not knowing your risk factor
6:51 – Not knowing your social security options
2020-10-2220 minRetirement Reality PodcastEp 53: Answers to Common Housing and Retirement QuestionsClients often ask how housing fits into retirement plans. From downsizing to rental properties to interest rates, let’s explore some of the top retirement questions about housing.
Read more and get additional financial resources here: https://principalpreservationservices.com/ep-53-answers-to-common-housing-and-retirement-questions/
What we discuss on this show:
4:00 – Pay off the house early or slowly?
6:28 – Downsize to a smaller home at retirement?
8:55 – Is rental property a good idea for creating income?
10:37 – Complications with real estate legacy plans?
14:47 – Contact Mike
15:34 – Mailb...
2020-10-0119 minRetirement Reality PodcastEp 52: Can You Afford to Live a Long Life?As life spans continue to increase, so does the need for more money later in life. On this week’s episode of the Retirement Reality Podcast, Mike Kojonen explains how to plan financially for a long life.
Read more and get additional financial resources here: https://principalpreservationservices.com/ep-52-can-you-afford-to-live-a-long-life/
What we discuss on this show:
1:05 – Let’s talk about longevity
2:40 – Oldest clients
4:33 – Oldest family member
5:44 – Why is living long a risk?
8:44 – Are people prepared for longevity question?
11:05 – People afraid of running ou...
2020-09-2419 minRetirement Reality PodcastEp 51: 5 Ways to Ruin RetirementYou’ve heard advice about how to improve your finances and prepare for retirement, but what about mistakes? On this week’s episode of the Retirement Reality Podcast, Mike Kojonen shares five ways you could be ruining your retirement.
Read more and get additional financial resources here: https://principalpreservationservices.com/ep-51-5-ways-to-ruin-retirement/
What we discuss today:
3:28 - Treating retirement as a destination
6:22 – Believing retirement will solve all your problems
8:11 - Assuming your monthly spending habits will be same
10:39 – Not staying active in retirement
2020-09-1721 minRetirement Reality PodcastEp 49: How to Build a Strong Financial HouseHow can you build a strong financial house? Mike gives you step-by-step instructions to create a solid foundation for your finances.
Read more and get additional financial resources here: https://principalpreservationservices.com/ep-49-how-to-build-a-strong-financial-house/
What we discuss on this episode:
3:56 – Foundation = Income Plan
6:23 – Walls = Investment Plan
8:11 – Roof = Insurance protections
11:20 – Finishing Touches = Estate Plan
16:54 – Mailbag: Forced into early retirement
19:12 – Mailbag: Can you explain the rule of 100?
2020-09-0323 minRetirement Reality PodcastEp 43: Saying One Thing But Doing AnotherWhen it comes to investing, do your actions line up with your goals? It’s easy to talk about what you want to accomplish but are you taking the proper steps to make progress towards those things? Let’s talk about the ways in which people will say one thing about their finances but do another.
Read more and get additional resources here: https://principalpreservationservices.com/ep-43-saying-one-thing-but-doing-another/
Today's show schedule:
1:02 – Update on Mike professional career.
2:53 – What we’re talking about today.
3:17 – They spend a lot of time savi...
2020-07-1617 minRetirement Reality PodcastEp 41: Lessons From Keyboard WarriorsWe were playing the dangerous game of perusing the comments section of a recent article about COVID-19 and the impacts on retirees and how much money you’ll need to retire going forward. The trip into the comments section is always a mixed bag of trolling, inaccuracies, and sometimes surprisingly helpful insight from what we’ve come to describe as “Keyboard Warriors.” So, let’s look at some of the sentiments found under this recent article and see if they resonate with how others truly see the financial world, retirement, and how to best prepare for it all.
2020-07-0219 minRetirement Reality PodcastEp 38: Should You Follow Dave Ramsey’s Financial Advice? Should you follow Dave Ramsey and his baby steps to financial success? On this episode of the Retirement Reality Podcast, Mike takes a critical approach to help you determine if Dave’s advice is right for everyone.
Read more and get additional resources here: https://principalpreservationservices.com/?p=39469
Today's show schedule:
1:04 - Mike looks forward to summer weather and football season.
3:01 - Mike shares about his favorite charity to support.
5:55 - Is the debt snowball a good strategy?
7:43 - Should you just invest in mutual funds?
10:0...
2020-06-1121 minRetirement Reality PodcastEp 37: Financial Terms You Should Know During the PandemicWith so much happening in the financial world these past few months, there can be a lot to process when you’re trying to understand the market and the economy. Certain financial terms are being used a lot more now than they were the past decade so we will help you understand what these things mean and how they apply to you.
Read more and get additional resources here: https://principalpreservationservices.com/ep-37-financial-terms-you-should-know-during-the-pandemic/
Today's show schedule:
1:28 – Mike and his family staying active outdoors.
3:08 – Getting to Know Mike: What do yo...
2020-06-0421 minRetirement Reality PodcastEp 36: 5 Life Events That Spark Major Financial ChangesSometimes events happen in life that make it really important for you to carefully assess your financial situation. Let’s explain why these five major events are usually a good reason for a financial review.
Read more and get additional financial resources here: https://principalpreservationservices.com/ep-36-5-life-events-that-spark-major-financial-changes/
Today's show schedule:
1:12 – Mike is busy with spring projects and getting life back to normal.
2:44 – Financial Dictionary: What is an Adjustable Rate Mortgage?
6:21 – Mike isn’t a fan of these mortgages and this is why.
8:33 – Let’s...
2020-05-2822 minRetirement Reality PodcastEp 35: Best Intentions Sometimes End in Bad AdviceWe turn to many different people and resources to get financial advice, but how much can you depend on the information you’re getting? Today we’ll talk about four common people we go to that might have the best intentions but why their advice isn’t always beneficial to you.
Read more and get additional financial resources here: https://principalpreservationservices.com/ep-35-best-intentions-sometimes-end-in-bad-advice/
Today's show schedule:
1:55 – How is Mike handling the quarantine time?
2:37 – What we’re talking about on this episode.
3:10 – Get advice from our family.
...
2020-05-2119 minRetirement Reality PodcastEp 34: Retirement Account Changes for 2020The government implemented multiple measures to assist Americans during this health crisis, and there are number of changes that investors and retirees need to know about. Mike is going to run through the key provisions so that you will have a better idea of how your retirement plan will be impacted.
Read more and get additional financial resources here: https://principalpreservationservices.com/ep-34-retirement-account-changes-for-2020/
Today's show schedule:
1:17 – Are you and clients getting used to the virtual meetings?
2:06 – First thing Mike wants to do when quarantine is over?
4...
2020-05-1420 minRetirement Reality PodcastEp 33: Are You in a Bad Investment?Okay, so there might not be such a thing as a ‘bad financial product’, but there are certainly inappropriate investments out there for people in certain situations. We’ll explore some examples of those kinds of situations on this episode and you might be surprised just how common it is for people to be invested in products that are ill-suited for their financial goals.
Read more and get additional resources here: https://principalpreservationservices.com/ep-33-are-you-in-a-bad-investment/
Today's show schedule:
1:05 – A recent study found a bad savings trend for Americans.
4:04 –...
2020-05-0720 minRetirement Reality PodcastEp 32: Coronavirus Market Update & Where to Go From HereNow that we’ve had a little time to process what we’ve been seeing in the stock market, let’s get an update from Mike on where we stand, how clients are handling everything, and what the next steps need to be for your finances.
Read more and get additional resources here:
Today's rundown:
1:16 – How is Mike and his team dealing with the quarantine?
2:43 – Mike’s usual seminars are on halt but virtual seminars are starting.
4:21 – Getting to Know Mike: What’s dumbest or most foot-in-mouth...
2020-04-2322 minRetirement Reality PodcastEp 29: Setting Financial & Retirement GoalsWe talk all the time about how people need to give their dollars purpose or set goals for their retirement and even specifically for certain investments. But let’s dive deeper into what different goals look like for various folks approaching retirement. How do you determine if a goal is realistic or out of reach? We’ll tackle that conversation with plenty of examples on this episode.
Read more and get additional resources here: https://principalpreservationservices.com/ep-28-setting-financial-retirement-goals/
Today's rundown:
1:35 – It’s a busy time around the office.
3:33 –...
2020-04-0219 minRetirement Reality PodcastEp 28: Understanding Roth Conversions as a Planning StrategyWith taxes at historically low levels, many people have turned to Roth conversions as a planning strategy. Is this a smart option for you? What all should you consider when it comes to conversions? Let’s breakdown the pros and cons and explain how the process would work for you.
Read more and get additional resources here: https://principalpreservationservices.com/ep-27-understanding-roth-conversions-as-a-planning-strategy/
Today's rundown:
1:18 – Roth conversions are a topic we talk about a lot in the planning process.
2:37 – What is a Roth conversion?
3:33 – Why might this be especi...
2020-03-2617 minRetirement Reality PodcastEp 27: Coronavirus Update + Getting Lost in RetirementWith so much uncertainty in the market right now, we want to get Mike’s opinion on what we’re seeing with the coronavirus and the impact it’s having financially. We’ll then spend the rest of the show discussing ways in which you get lost in retirement. It doesn’t take much to get off track but there are always ways to regain your retirement compass.
Read more and get additional resources here: https://principalpreservationservices.com/coronavirus-upda…st-in-retirement/
Today's rundown:
2:17 – What does Mike make of the coronavirus and its impact on the...
2020-03-1921 minRetirement Reality PodcastEp 26: What’s Your Level of Desire to Retire?When you think about retirement, are you someone that pictures yourself working for as long as you can or do you want to hang it up as soon as financially possible? Everyone has a different level of desire when it comes to retiring and we’ll span the full spectrum on this episode.
Read more and get additional resources here: https://principalpreservationservices.com/ep-26-whats-your-level-of-desire-to-retire/
Today's rundown:
2:48 – Getting to Know Mike: What’s your favorite sport?
5:21 – Moving into our main topic on desire to retire.
5:41 – L...
2020-03-1222 minRetirement Reality PodcastEp 24: Retirement Planning and FarmingWe spend a lot of time we researching and gathering information but some of the best guidance for retirement planning can be found right in front of us. We’ll show you that’s the case by taking farming and extracting five lessons that you can apply to your planning strategy.
Show notes and additional resources: https://principalpreservationservices.com/ep-24-5-retirement-lessons-you-can-gather-from-farming/
Today's rundown:
1:02 – Mike and his family own a hobby farm with multiple animals.
2:20 – Let’s take farming and relate it to retirement planning.
2:33 – The first lesson is...
2020-02-2721 minRetirement Reality PodcastEp 23: Lies Learned in Broker SchoolA lot of financial professionals will tell you things that just aren’t true. That doesn’t mean they do it intentionally. Many times these professionals have been given talking points, which they might even feel to be true themselves. We want to talk about the statements you should be cautious of if you hear them from an advisor.
Show notes and additional resources: https://principalpreservationservices.com/ep-23-lies-learned-in-broker-school/
Today's rundown:
1:28 – Minnesota winters have brought below-freezing temperatures once again.
3:55 – In the News: A recent CNBC article points out that an o...
2020-02-2023 minRetirement Reality PodcastEp 20: Do You Need to Be Debt Free to Retire?Do you believe you need to be completely debt free to retire successfully? Or are you okay carrying some balances beyond your working years? There are many opinions about the best way to handle debt and retirement planning, so we’ll tackle them all on today’s show.
Read more here: https://principalpreservationservices.com/ep-20-do-you-need-to-be-debt-free-to-retire/
Today's rundown:
2:12 – In the News: President Trump changed his state of residence from New York to Florida for tax purposes. How often do our clients consider moving in retirement?
5:01 – Our main topic today i...
2020-01-2319 minRetirement Reality PodcastEp 18: Are You Making These Excuses to Avoid Retiring?Sometimes people say they don’t want to retire and they really mean it. But other times it’s just a defense mechanism to mask the opinion that they don’t feel like they can retire. Let’s look at the common excuses people make and explore the possible meanings behind why you don’t want to retire
Show notes and additional resources: https://principalpreservationservices.com/ep-18-are-you-making-these-excuses-to-avoid-retiring/
Today's rundown:
2:15 – We’re talking about excuses people make for not retiring.
2:33 – “I love my career.” What’s the deeper meaning to that state...
2020-01-0920 minRetirement Reality PodcastEp 17: 5 Traits Your Financial Advisor Should HaveHow do you know if an advisor is a good fit? That’s a question that keeps many people from working with a professional so let’s identify the essential traits every advisor should possess. That might be easier said than done so let’s also talk about how you can determine whether an advisor has these characteristics.
Show notes and additional resources: https://principalpreservationservices.com/5-traits-your-financial-advisor-should-have/
Today's rundown:
1:23 – Excited for the new year and what 2020 will bring.
2:42 – In the News: For the first time in 37 years, the inventory o...
2020-01-0219 minRetirement Reality PodcastEp 16: Top 5 Biggest Social Security MisunderstandingsThere’s plenty of misinformation and rumors in the world of Social Security and that might cause a little anxiety when it comes time to claim your benefit. On this show, we’ll look to clear up the top 5 misunderstandings about Social Security.
Show Notes and Additional Resources: https://principalpreservationservices.com/top-5-biggest-social-security-misunderstandings/
Today's Rundown:
1:19 – What goals does Mike have for the company in 2020?
2:22 – Reflecting on 2019
3:30 – In the News: A baggage handler at an airport in Nevada was giving financial advice to more than 900 people and even chargi...
2019-12-2619 minRetirement Reality PodcastEp 13: These Mistakes Could Sabotage Your RetirementWith all of the things in the financial world that you can’t control, why would you sabotage your own retirement by messing up the thing you can control? It’s time to discuss the ways in which people damage their retirement and hurt their long-term financial health.
Show Notes and Additional Resources: https://principalpreservationservices.com/these-mistakes-could-sabotage-your-retirement/
On This Episode:
1:32 – Mike gives us an update on his daughter’s wedding.
2:31 – In the News: Social Security Administration announced a 1.6% cost of living adjustment on their monthly benefits in 2020. Is this a big d...
2019-12-0516 minRetirement Reality PodcastEp 12: Are You Having These Tough Financial ConversationsThere are things we'd all like to avoid talking about with our advisor because it makes us feel uncomfortable or awkward, but some topics have to be addressed if you want to build a strong retirement portfolio. We’ll take a look at how advisors should help clients navigate various tricky situations.
Full Show Notes: https://principalpreservationservices.com/are-you-having-these-tough-financial-conversations/
On This Episode:
1:19 – Mike shares a Black Friday story from a time he waited in line.
3:38 – We’re talking about awkward conversations on today’s show.
4:15 – Mailbag question...
2019-11-2621 minRetirement Reality PodcastEp 11: 4 Tips to Help You Retire Without RegretNo one wants to reach retirement and wonder what might have happened if they made a few small changes. Simple mistakes can lead to larger financial regrets later in life. On today’s show, we’ll explore some of the things you can do to avoid living with regret in retirement.
Show Notes: https://principalpreservationservices.com/4-tips-for-retiring-without-regret/
Today's Rundown:
1:17 – What does the holiday season look like for the Kojonen family?
2:29 – Previewing our main topic for this episode.
2:58 – Retire without regret: Don’t make any sudden decisions.
...
2019-11-2115 minRetirement Reality PodcastEp 10: Retirement Constants That Affect EveryoneWhile there are some factors that are different for everyone in retirement planning, there are also constants that affect everyone, no matter the specifics of your situation. How do we plan around these constants? We’ll explore that question on this episode
Show Notes: https://principalpreservationservices.com/retirement-constants-that-affect-everyone/
Today's Rundown:
1:06 – Mike’s daughter is getting married in a couple days.
2:29 – Previewing today’s show.
2:48 – Mailbag question: Most of my 401k is invested in company stock. Is that a bad thing?
4:28 – Mailbag question: How long should I be...
2019-11-1420 minRetirement Reality PodcastEp 9: Retirement Variables That Need to Factor Into Your PlanRetirement 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.
Show Notes: https://principalpreservationservices.com/retirement-variables-that-need-to-factor-into-your-plan/
Today's Rundown:
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 – Retireme...
2019-11-0720 minRetirement Reality PodcastEp 8: Why the Final Decade of Work is So Important for RetirementNo one wants to play the guessing game when it comes to retirement and waiting until the last minute to iron out your plan will leave you unsure about your readiness. That’s why that final decade of work is very important from a retirement planning perspective. Get this list of items in order and you’ll be in great shape when that retirement day arrives.
On this episode:
1:36 – Mailbag question: I’ve heard people say the only type of life insurance you should by is term insurance. Is that true?
2:55 – Mike is a fan of s...
2019-10-2417 minRetirement Reality PodcastEp #7: What Will the Next Market Crash Look Like?We’ve been enjoying a long bull run over the past decade and that’s made many people fearful that a major downturn is right around the corner. So what might that look like and when could it happen? We discuss the next market crash and how to prepare yourself for it.
Today's rundown:
1:20 – Mike’s team is moving into a new office.
2:37 – Mailbag question: Should I work with a younger advisor with less experience or someone my age that will retire the same time I do?
5:17 – It’s valid to ask an advisor...
2019-10-1718 minRetirement Reality PodcastEp #5: Even Responsible Savers Make These MistakesYou can’t criticize people that take a proactive approach to their future by putting away savings as they earn, but you can offer up ways to improve the way that they save. Believe it or not, even responsible savers make mistakes because the transition into retirement can be a major lifestyle change. Let’s talk about some of those missteps that happen along the way.
Today's rundown:
2:01 – What we’ll talk about on today’s show.
2:43 – Wedding loans are a new trend where young couples take out money to pay for their ceremony. Mik...
2019-10-0317 minRetirement Reality PodcastEp #4: Is Playing the Blame Game Holding You Back Financially?Have you ever had any type of financial trouble and immediately look to place the blame on external factors? Many times there are situations that make retirement planning difficult, but making excuses rather than looking for solutions will slow down your growth and limit your potential. We’ll share some of the common ‘blame game’ examples we hear and provide you with guidance to get past them.
On this show:
0:54 – Introducing the topic for today’s show.
1:15 – Getting to Know Mike: What hobby would you pick up if time and money weren’t an issue?
...
2019-09-2614 minRetirement Reality PodcastEp #3: 3rd & 4th Quarter Financial Planning ChecklistAs the year begins to wind down, it becomes a great time to run through a financial checklist to make sure your investments all are on track. These six items will help you decrease your taxes, improve your portfolio, and keep your retirement plan moving forward.
Today's rundown:
1:21 – Mike talks about his trip to the Minnesota State Fair.
3:13 – Let’s talk about a 3rd & 4th quarter planning checklist.
3:53 – Item 1: Evaluating our IRA or Roth contribution options.
5:31 – Item 2: Taking a look at your charitable donations.
7:06 – Item 3: Offsetting your gains with losses...
2019-09-1918 minRetirement Reality PodcastEp #2: 5 Financial Myths That Need to Be BustedWhen it comes to retirement planning, there are some widely believed financials myths that you’ve likely heard. Today we’ll look at some of those and try to bust them wide open. The scary thing is that a lot of people base their financial plans on some of these myths. Don’t be like that.
2:22 – Getting to know Mike: Who is somebody that always makes you laugh?
4:25 – Beginning our discussion on the biggest financial myths.
4:49 – Myth 1: Shifting from stocks to bonds removes the volatility.
6:42 – Myth 2: Once you’re retired, life insurance is no lon...
2019-09-1216 minRetirement Reality PodcastEp #1: Signs Your Financial Advisor Isn’t Right for YouIt’s not uncommon to meet people that aren’t completely satisfied with their financial advisor but don’t feel the need to make a change. Many times, relationships have been formed that prevent clients from making a tough choice, but other times the excuses are a little flimsier. Find out some of the common signs that your advisor might not be a great fit in this episode.
Podcast Website: https://principalpreservationservices.com/retirement-reality-podcast/
Today's rundown:
3:27 – In the news: Reacting to the campaigns to forgive student debt.
6:29 – Mike shares his personal philosophy...
2019-08-3116 minRetirement Reality PodcastEp #0: Getting to Know Mike Kojonen & the New PodcastBefore we launch the first episode of the Retirement Reality podcast, we wanted to introduce you to the show and the people. In this ‘Getting to Know You’ episode, we’ll learn more about Mike Kojonen, his business, and the future of the podcast.
Check out the full show notes by clicking here. ----more----
Today's rundown:
1:36 – Introducing the plan for the episode.
1:54 – Getting to know Mike.
6:25 – Learning about the business and the philosophy behind Principal Preservation Services.
11:34 – What to expect from this podcast.
2019-08-2618 min