My Smart Retirement

My Smart Retirement

Whether you are planning to retire someday, or find yourself already there, you know there’s lots of advice swirling around - some dangerous, some making outrageous claims. Where do you go? Who can you trust? How do you avoid the danger zone? Nancy Fleming with Fleming Financial Services features a weekly show that offers sound, practical solutions to these concerns and more. New episodes offered every Saturday.

Episodes

August 4, 2022 35 min

On today’s episode, we’re going to explore the 4 phases in life, each being 8,000 days or 22 years: the honeymoon phase, the big decision phase, navigating longevity phase, and the solo journey phase. While they can be interchangeable each plays a special part in our lives and we have very similar phases in retirement.

The Honeymoon Phase (65 to 74)

This is where you are typically just entering retirement (while some people may ret...

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Let’s put retirement planning and preparation under the microscope. On today’s episode, we’re going to do a retirement planning pop quiz. Follow along and test your retirement planning skills and knowledge!

At what age should you start saving for retirement?

A. When you begin working

B. After you buy your first home

C. After you pay off all your debt.

Actually, the best time to start saving is now! The quantity you put away will ch...

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Today, we’re opening up the mailbag and answering some retirement questions we get from our listeners and clients.

George says he has all of his retirement savings in one IRA. Should he move some of that money elsewhere to be diversified?

Since we don’t know how close George is to retirement and what his risk tolerance is we can’t give him a definite answer. Instead, what should he look at to determine the right move for him?

You w...

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Many of us want to keep our money in our pockets. We can use financial intelligence to direct that money in the ways we want to. But, what are some ways we are losing money? On today’s episode, we’re going to break down our philosophy on keeping money in our pockets and how it's about much more than just inflation. 

 

Whenever we have federal government deficit spending, we are going to have inflation. Our incomes and the cost ...

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June 23, 2022 18 min

If you’ve ever planned a trip, planned a wedding, or planned your retirement you may have realized how fun the anticipation of the adventure was. We can’t always predict the future and a lot of pre-retirees are getting started early on their bucket list before they are in retirement.

On today’s episode, we’re going to explore Mark and Mona’s journey to retirement. Theories about retirement planning are great but sometimes it’s nice...

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Let’s open up the mailbag and answer some of our listener’s questions about retirement, market volatility, and more.

Wanda says, “With my 6 siblings I inherited a 70-acre farm. 4 of my siblings want to sell and the rest of us want to keep it. Is it worth trying to buy out the rest of the farm? Or should we argue until we get to keep it all?”

We definitely don’t recommend arguing it out with your siblings. The four that want to sell...

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The famous Elon Musk has recently predicted a recession and we often hear this worry from clients as well. It’s a big question being discussed with the down markets and high inflation. Are we entering a recession? On today’s episode, we’ll explore what it means if we are at the beginning of a recession and how well we are prepared for this possibility. 

The net worth of American households has actually gone up in the past few years...

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There are various debates out there around life insurance. But this investment tool can be invaluable to yourself and your family. On today’s episode, we’ll break down some good reasons you should think about getting life insurance and the benefits it could provide you and your family. 

We most often think of life insurance as income replacement. When we are raising a family or have someone dependent on us, this is especially impor...

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When planning for retirement, we hear a lot about managing risk in our portfolios. On today’s episode, we are going to approach risk in a different light. How prepared are you for the risk of needing long-term care to cope with a chronic or lifelong condition? This is the least favorite topic of many pre-retirees and retirees because most of us want to plan for the fun things: vacations, hobbies, family legacy, etc. Yet, this is on...

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May 19, 2022 14 min

There’s this consensus that people who obtain wealth just make a lot of money or they inherited a lot of money. But the reality is most people who have a lot of money are good savers.

A lot of wealth is built by people who just make a decent salary or even an average salary. They just live within their means. We’ll share some of the commonalities of people who are wealthy.

They buy used cars

Wealthy people often don’t buy a new car...

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What does a soccer game have in common with retirement planning? On today’s episode, we are going to break down the retirement playbook and what lessons we can learn from retirement’s All-Star players. We’ll break down ten critical factors you need to have in your retirement plan to score big. 

The big challenge for many retirement players is replacing income for an indefinite number of years in an ever-changing economic environmen...

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We had a question come up recently that got us thinking about music and some of the greatest artists that have enjoyed huge financial success outside of their careers.

We thought that would make for a fun discussion on the podcast so that’s what we’re going to discuss today. Nancy will take you through a handful of the most successful artists, singers and composers across different genres and pull out the financial lessons we can l...

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How often do you think about retirement? People who are not approaching retirement or who are not in retirement, rarely spend a lot of time thinking about it. But at the same time, 6/10 of retirees wish they had thought about this phase of life more often. 

More and more people are visualizing retirement as a brand-new chapter in life. Retirees in the U.S. are reporting higher levels of happiness due to their newfound freedom. Mayb...

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When it comes to understanding our finances, it may be easier to use comparisons when grasping new concepts. Financial literacy has become a lot more important as retirement has become more complex. Instead of relying solely on a pension or Social Security, you probably have various retirement tools to keep track of now. 

On today’s episode, we are going to help you expand your financial literacy by breaking down some comparisons b...

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As you approach retirement you may notice some milestone birthdays coming up. What important ages do you need to mark on your calendar? On today’s show, we’ll break down some key birthdays that will impact your retirement plan.

Age 50

Once you turn the big 5-0 you are eligible to start saving through catch-up contributions. This valuable tool is important if you feel behind on your retirement plan. You’re entering the final stretch...

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April 7, 2022 20 min

We all go through chapters in life, especially as we approach and enter retirement. On today’s episode, we are going to discuss some age-related questions many pre-retirees and retirees have. Which ages are most important when it comes to your retirement plan?

Peg and Paul have already started Social Security, but regulations ended up changing their original Social Security strategy. So, Peg started taking this benefit at 62, which...

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What are some signs you are in good financial health? When it comes to planning for retirement, we don’t want to rely on beginner’s luck. On today’s episode, we are going to discuss how to recognize when you are on the right track and how you can stay on the pathway to financial freedom.

You spend less than you make.

If you’re working and spending less than you make and putting money away for the future, that’s great. Even in retir...

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March 24, 2022 27 min

What similarities do baseball and retirement planning share? On today’s episode, Nancy and her husband Brian will compare some basic baseball principles to retirement planning, which are surprisingly similar endeavors.  

When you go to a baseball game you are probably hoping to see a home run or two. As we know though, the way to win a game has a lot more to do with the little steps and strategies baseball players take than the big...

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March 17, 2022 20 min

Our world is full of myths. We use them to make sense of things. The financial world is no different. On today’s episode, we are going to explore some common financial myths and deconstruct the valuable information we can learn from each.

Myth #1: Shifting from stocks to bonds removes the volatility from your portfolio.

On a basic level, bonds are going to be less volatile than most stocks. But we have to remember that bonds don’t ...

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March 10, 2022 21 min
The old saying goes “This Isn’t My First Rodeo.” We've seen similar rising gas prices in the 70s and 80s. It feels like it’s going up almost every day or so now. Adding this to inflation in the grocery store we are faced with more and more uncertainly in the market.

A lot of people are rethinking traveling and employees that have to commute are feeling the pinch in their wallets. Because of this turbulent time, we are going to ...

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