Retirement

How is your retirement plan coming along? Do you have enough money set aside to help cover expenses when your retire? Below are different resources offering advice on creating a retirement plan,  determining the best path to follow, planning for social security, and more. 

Disclaimer: Please note the information, resources and links are provided as a service to our readers only, and could be used as a guideline.  SeniorCitizensofOhio.com does not recommend or endorse any person, business or organization listed below. You should consult with a financial planner, attorney, or family member before making any investments or purchasing anything from these sources.  Remember, if it sounds too good to be true, it probably is.  

    • The Truth About Retirement Discussions
      by Retired Musings on November 30, 2022 at 4:53 pm
    • The 5 Years Before You Retire With Emily Guy Birken
      by Retirement Revealed on November 30, 2022 at 1:24 pm

      Summary: [113] – It’s never too early to start planning for retirement, including what to do later down the line as retirement nears. Today, let’s talk about what we should do five years before we retire. In this episode, Jeremy Keil speaks with Emily Guy Birken about a few of her publications and experience as a freelance personal finance writer. Emily shares a handful of essential takeaways from two of her books, The 5 Years Before You Retire and Stacked: Your Super Serious Money Management Guide, about what to do when preparing for retirement. Emily discusses: How she became a money writer The 5 takeaways from her book, The 5 Years Before You Retire Focusing on what you want to do with your spending What is was like to co-author a book, Stacked: Your Super Serious Money Management Guide, along with its two key takeaways And more The 5 Years Before You Retire The 5 Key Takeaways Emily Guy Birken shares 5 key takeaways with us from her book, The 5 Years Before You Retire. They are: Maximize your current investments Secure healthcare for the future Capitalize on pre-retirement opportunities Protect your assets Strategize for the life you deserve Today, we focus on two of the most important ones: capitalizing on pre-retirement opportunities, and strategizing for the life you deserve. Capitalize on Pre-Retirement Opportunities Before you retire is the best time to think about how your retirement will look. The five years before retirement is when most people realize it’s really happening; retirement is close. During the pre-retirement period, you can road test some ideas for what you want to do with your time after retirement. If you’re thinking about more than just money, you’re probably thinking about how you’ll spend your time, where you’ll live, and what you will focus on in retirement. The typical financial professional provides you with financial advice, but you also need to focus on what you want from your retirement. A great way to focus on both within the last five years before you retire is to give those ideas a test run. If you plan to retire in Florida, for example, visit the state during different times of the year to see if you like it all year round instead of only during the tourist months. Testing out where you want to live for a short period, like 1 to 3 months, can also give you a better idea of your expenses and allow you to plan more accurately. Strategize For The Life You Deserve While focusing on spending is important, what you want to do with that spending might be more critical. One of the things about how Emily’s father conducted his business as a financial advisor that Emily admires and inspired her book is how he would prioritize getting to know his clients. Instead of rushing through meetings and trying to get to as many clients as possible, her father would spend more time with his clients to get to know their financial situation and their goals and values for retirement. Planning for retirement is about your life. If you focus primarily on money, you’ll miss the life aspect of retirement planning. We want to figure out how you can afford the life that you want. Something Emil recommends in her book, The 5 Years Before You Retire, is to think of what your plan B retirement would look like: what’s the least amount of money you would need on a daily, weekly, monthly, and yearly basis to feel satisfied with your life? And that’s because if you start planning with your focus on money and then something goes wrong with that plan, you’ll feel like you failed. But if you start with your life goals and what you want from retirement, and you have to adjust your expectations, you can always feel like you succeeded and live a happy retirement. ___________________________________________________________________________ To learn more about Emily Guy Birken’s publications, check out the resources below! If you have any questions, feel free to contact us or our guest Emily Guy Birken using the contact information provided below! Resources: PTMoney.com The 5 Years Before You Retire by Emily Guy Birken Stacked: Your Super Serious Guide To Modern Money by Emily Guy Birken End Financial Stress Now by Emily Guy Birken 112 – It’s All About The Income With Michael Lynch The Stacking Benjamins Podcast by Joe Saul-Sehy Free Retirement Planning Video Course: 5stepretirementplan.com 3 Things You Should Know Before Choosing A Financial Advisor 7 Questions That Could Make or Break Your Retirement Subscribe to Retirement Revealed on Google Podcasts Subscribe to Retirement Revealed on Apple Podcasts Connect With Emily Guy Birken: EmilyGuyBirken.com Twitter: Emily Guy Birken Instagram: Emily Guy Birken Facebook: Author Emily Guy Birken Connect With Jeremy Keil: Jeremy@keilfp.com (414) 250-8875 Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners Book a call with Jeremy About Our Guest: Emily Guy Birken is a former educator, lifelong money nerd, and a Plutus-Award Winning Personal Finance Writer. She is the author of five books, with The Five Years Before You Retire, Stacked: Your Super Serious Guide to Modern Money Management, and End Financial Stress Now, being her most recent publications. Disclosures: Content Results and figures presented within the above links are hypothetical, unaudited and are intended for illustrative purposes only. Liability Keil Financial Partners assumes no liability or responsibility for any errors, omissions, or other issues with the links and their respective contents. This includes both the website content and any potential bugs, viruses or other technical threats. No Tax Advice Keil Financial Partners does not provide any tax advice. No information or results from the links should be interpreted as tax advice. Please seek guidance from a qualified tax professional for any and all tax-related matters. No Investment Advice The content and information provided through the links should not be interpreted as being investment advice or a recommendation of suitability for any particular security, portfolio of securities, transaction, or investment strategy, or related decision. Please seek assistance from a qualified investment professional for any and all investment matters. Investment Risk Investments may increase or decrease significantly. All investments are subject to risk of loss.

    • Fifth Year of Retired Introvert – Technology
      by Retired Introvert Blog on November 30, 2022 at 12:16 pm

      Do you struggle with technology? This is a recap of prior posts related to technology. I've had a few experiences that might interest you. The post Fifth Year of Retired Introvert – Technology appeared first on Retired Introvert.

    • Predictability is Not in Fashion Anymore
      by Satisfying Retirement on November 30, 2022 at 9:55 am

        Predictability is not very predictable anymore. The world, our country, our schools, our politics, what is up and what is down are in constant flux. Rules and social norms of even just a few years ago no longer necessarily apply. In many cases, we have become immune to the constant shifting of what we take for granted and what we believe to be true. The shift under your feet isn't just an earthquake, it is a societal shift.  *Have you tried to find a cell phone recently whose primary function is a phone? Does it matter since texting has replaced real conversation?  *Desktop computers are pretty much gone. Even laptops are giving way to tablets and smartphones. Oh, and e-mail is no longer used by many of us. *The promise of a pension or 401k being there when you need it is not true anymore. We are mostly on our own. *Health studies are produced every day that contradict what yesterday's said.  Now, coffee can help prevent heart attacks? *The political climate is as unstable as the actual climate. *Even something as commonplace as repairing your own car requires specialized computers. "Check engine" light? To the repair shop, you go. *Network and cable television have lost the war to Internet streaming that has become as complicated as cable ever was. Who decided everything is now + ? So, what should our response be to this onslaught?  Can we do anything to get a sense of control back? Simple living or voluntary simplicity is a lifestyle choice that has several attractions. Cutting back on possessions and avoiding much of the material society in which we live have benefits that I have detailed in earlier posts. But, it really has little to do with a response to a complicated and uncertain world. Here are some thoughts to get your own creative juices flowing:Put more stock in you.  Gather all the opinions you want. Do all the research on any subject that helps you get a handle on the issue. But, when it is decision time, trust you. You should not doubt your own abilities. Learn to trust your gut and intuition. If something doesn't seem quite right to you, then it isn't. Will you make mistakes? Sure you will. But, guess what, you'll make mistakes even if you wait for others to tell you what you should do.Personal responsibility must make a comeback. The time when we could safely outsource all our decisions to others has ended. Believing the experts almost brought down our economy not that long ago. It should be obvious by now that promises to you by corporations or government aren't always binding. You need to take on more of a load of managing and guiding your own life.Decide what adds clutter to your life and reduce it. It could something as obvious as too much time on the computer or the Internet. It could be too many possessions to repair, maintain and insure. It might be a house that is much too big for your needs. Maybe a three-car garage doesn't need three cars. Over-commitment is a dangerous form of clutter. Are you the go-to volunteer for everyone? Determine what can be eliminated or cut back and do so.  Less clutter means less stress. Less stress means less complexity.Learning and changing never stop; don't even try. It is useless to dig in your heels and try to keep things the way they were (or are). Your life will probably be OK for a while without rushing out for the newest 5G phone. But, to refuse to consider change is a doomed strategy. Read, study, ponder. Try to understand how a change you've been reading or hearing about may affect you. In summary, I believe there is one basic truth that gives us hope: the more we learn to handle complexity, the simpler it becomes.Question: Am I overstating the problem of complexity and its effect on us? Have I missed a way to find more simplicity? I encourage your feedback.