Retirement Reality Podcast

It’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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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 nev...

🎄 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 –...

Did ​you ​know ​that ​most ​Americans ​are ​forced ​to ​retire ​early? ​A ​little ​bit ​more ​than ​you ​might ​actually ​realize. The Transamerica Center for Retirement Studies found that 60% of Americans are forced to retire earlier than their planned age.​ On this show, ​we're ​going ​to ​talk ​about ​some ​things ​to ​think ​about and the next steps to consider if you find yourself in this situation.  

Here’s some of what we di...

Retirees 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...

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...

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...

As 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...

Social 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 raisi...

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...

A 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 listen...

In 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 ...

In 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 c...

Retirement 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 ...

Mike 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...

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 pla...

We 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 whethe...

In 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 win...

What 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 Medica...