#023: How Much Do You Need in Retirement? Use this online calculator to find out.
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 5 June 2017
⏱️ 22 minutes
🧾️ Download transcript
Summary
Steve Chen created a retirement planning calculator that anyone can use. The inspiration came from personal experience. His mom needed help at retirement - but she didn't have enough assets to work with most financial planners.
Steve from NewRetirement.com discusses financial planning needs for those who aren't "attractive" to financial planners.
For more information, visit http://www.bigpictureretirement.net
Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide specific tax, legal, or financial advice. |
| 0:05.1 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:13.0 | Hey everyone and welcome to the Big Picture Retirement Show, where we deliver insight on what you need to know for a meaningful and successful retirement. If you are planning for |
| 0:22.8 | or living in retirement, this is the show for you. I'm Devin and back today with me is my co-host, |
| 0:30.2 | John. Hey, John. Howdy. So, John, we've talked about building a plan and some of the roadblocks |
| 0:37.2 | to getting started. |
| 0:38.4 | It's kind of the foundation of what big picture retirement is about, is about make a plan, right? |
| 0:43.1 | Right. Sure. Yeah. I mean, you always want to have something planned out in advance. |
| 0:47.5 | It's going to save those crises when they come. You're going to weather the storm if you've planned correctly. |
| 0:53.7 | Right. Yeah. So it's not about making |
| 0:55.6 | this big, massive, comprehensive financial plan that people pay three or four thousand dollars for, |
| 1:00.8 | then settle on the shelf somewhere and forget about. But it's about identifying some actionable |
| 1:05.3 | steps that are coming ahead, knowing how you need to get from point A to point B. And then, |
| 1:12.0 | once you start getting some confidence in your ability to plan, maybe from point A to B to C all the way out to, you know, |
| 1:18.0 | S or T. That's right. All the while, not necessarily just planning for what you hope is going to |
| 1:23.8 | happen, but then also planning for those unexpected hurdles. Yeah. Yeah. And so that's why, |
| 1:29.5 | you know, a plan is just that. It's a, it's a living thing, right? That's right. You know, |
| 1:35.0 | I'll tell people quite often when we do a retirement plan for them that, you know, one thing I know |
| 1:39.7 | about this, Mr. or Ms. Client, it's wrong. You know, they generally take a lot of consolation to that, too, |
| 1:45.6 | because we know, though, that building this plan that something is going to throw it off. |
| 1:51.3 | We don't know exactly what it's going to be, but if we use that as a plan and we say, okay, this is |
| 1:56.4 | the guide, I never have to make adjustments, I never have to plant or change anything. It's not going to be |
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