In this episode, Mark and special guest Kevin Sebesta discuss retirement planning strategies after attending a Rock Retirement Club event in Grapevine, Texas.
The discussion emphasizes the concept of secure retirement income as an alternative to the 4% rule commonly discussed in the FI/RE (Financial Independence/Retire Early) community.
Key topics include the importance of secure income sources like social security, pensions, and annuities to cover essential retirement costs, the nuances between different retirement strategies such as total return portfolios and guardrails, and the personal decision-making process around when to claim social security.
The episode also highlights the importance of flexibility and adapting financial plans as personal circumstances and preferences change over time.
If you would like your question answered on the show, please send an email to Mark@MarksMoneyMind.com and put “podcast question” in the subject line.
Episode Links:
Mark’s Money Mind YouTube Channel
Forget About Money - Fun Bucket episode with Mark & Kevin
Immediate Annuities - Advanced Annuity Calculator
Timestamps:
- 00:21 Special Guest: Kevin Sebesta
- 00:59 Rock Retirement Club Event Recap
- 01:36 Understanding Secure Retirement Income
- 02:40 The 4% Rule and Financial Independence
- 04:12 Exploring Annuities and Lifetime Income
- 08:38 Essential Retirement Expenses
- 15:16 Fun Bucket and Financial Planning
- 18:59 Claiming Social Security and Survivor Benefits
- 20:32 Optimal Age for Social Security
- 22:07 Claiming Strategies for Couples
- 26:15 Social Security Myths and Realities
- 27:35 Planning for Retirement Income Gaps
- 32:57 Adjusting Retirement Plans
- 36:31 Balancing Math and Comfort in Retirement
- 37:47 Final Thoughts and Future Plans
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