In this episode, Shawn breaks down the complexities of retirement planning into a clear, actionable framework designed to empower you. You'll discover how to overcome common fears, such as running out of money or needing to work past retirement age, by understanding Shawn's "Retire Happy Framework." This episode serves as your guide to securing a fulfilling and stress-free retirement, no matter where you are in your planning journey. Tune in to take control of your financial future with confidence.
In this episode, Shawn discusses:
- The need for comprehensive retirement planning
- The changing nature of retirement benefits
- Managing risks in retirement
- Planning for healthcare in retirement
Key Takeaways:
- Merely having retirement accounts like a 401(k) or IRA is not enough; it is crucial to develop a comprehensive plan that includes a well-thought-out drawdown strategy to ensure you don't outlive your savings and maintain financial stability throughout retirement.
- As the availability of company-sponsored pensions decreases, individuals must take greater responsibility for their retirement by starting to save early, carefully managing investments, and planning for a retirement that could span several decades.
- Successfully navigating retirement requires a proactive approach to managing six key risks—market risk, taxation risk, inflation risk, withdrawal risk, sequence of returns risk, and longevity risk—each of which can significantly impact the sustainability of your retirement income.
- Factoring in the potential costs of healthcare and long-term care is essential when planning for retirement, as these expenses can be substantial, unpredictable, and have a major impact on your financial resources over time.
"Remember, the only one who can help your older self is your younger self. Right? So let's plan today." — Shawn Maloney
Get a free copy of Shawn’s book “The Priority of Retirement” here- https://www.retirewisepro.com/the-priority-of-retirement
Contact Shawn:
Audio production by Tur
Popular Podcasts
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.