The Retirement Marathon: Planning for the Long Haul

Welcome to Retirement Success with Steve and Elizabeth Holland and Todd "MJ" Schnitt. For over 30 years, The Holland Group Retirement Wealth Advisors have been helping clients create customized, tax-advantaged retirement plans. In this episode, we discuss why retirement is a long-term marathon, not a sprint, and the strategies you need to make your money last.Key Takeaways from the Discussion:

• Longevity is a Challenge: With people living longer than ever before, retirement planning must account for a 20 to 30-year "marathon" of unemployment, requiring a detailed, long-term strategy.
• Avoid "Dead Money": Keeping large amounts of cash uninvested in low-yield accounts is a costly mistake. The show highlights the "opportunity cost" of this "lazy money," which is a loss of potential growth that is essential for a successful retirement.
• Secure Your Essentials: A solid financial foundation involves separating your expenses into two categories. Essential needs should be funded by reliable income sources like pensions and annuities, while lifestyle expenses can be covered by a growth-oriented portfolio.
• Optimize Social Security: The biggest mistake people make is treating Social Security as a simple on/off switch. By delaying your benefits, you can significantly increase your lifetime income, potentially resulting in a six-figure difference.

Contact The Holland Group Retirement Wealth Advisors for a complimentary, no-obligation review by calling [phone], or visit AskTheHollands.com to schedule a discovery call at your convenience.