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Optimal Finance Daily - Financial Independence and Money Advice

1592: How to Avoid Going Broke in Retirement by Ashley Chorpenning with PT Money on Personal Finance

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.41.3K Ratings

🗓️ 19 July 2021

⏱️ 9 minutes

🧾️ Download transcript

Summary

Ashley Chorpenning of PT Money helps you avoid going broke in retirement. Episode 1592: How to Avoid Going Broke in Retirement by Ashley Chorpenning with PT Money on Personal Finance PTMoney.com is about helping you make extra money, save more money, and spend your money wisely--all in an effort to help you fix your finances so you can build the life you want. It was started by Philip Taylor, a CPA, entrepreneur, and blogger who started the site in 2007. He also created FinCon, the popular conference for financial nerds. The original post is located here: https://ptmoney.com/avoid-going-broke-retirement/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

It's a Minimalist Monday edition of Optimal Finance Daily, episode 1592.

0:05.6

How to Avoid Going Broken Retirement by Ashley Corpenning with ptmoney.com

0:11.4

And I'm your host and personal finance enthusiast, Diana Mariam.

0:15.6

This is the show where I narrate posts from a wide variety of personal finance blogs.

0:20.3

We cover so much on this show from saving to investing to debt reduction and more.

0:24.9

So thank you for joining me today and every day.

0:28.5

And for now, let's get right to today's post as we optimize your life.

0:33.5

How to Avoid Going Broken Retirement by Ashley Corpenning with ptmoney.com

0:43.6

When I pictured retirement, I envisioned myself on a beach somewhere.

0:47.9

After acquiring my first finance job, I had a harsh wake-up call.

0:52.0

Looking at retirement accounts all day made me realize I needed to start planning now

0:55.8

if I was going to end up on a beach.

0:59.2

Retirement was closer than I thought.

1:01.2

Unfortunately, too many of us fail to plan.

1:04.9

One out of three Americans have nothing safe for retirement and will solely rely on Social

1:09.5

Security.

1:11.0

Those of us who are consistent and plan ahead will be able to have peace of mind when retirement

1:15.0

comes around.

1:16.0

However, no matter how much planning and saving you've accomplished by the time retirement

1:20.4

comes, you still need to be careful with your funds.

1:23.8

Here are a few ways to avoid going broke during retirement.

1:28.0

Cut Expenses Once you retire, you'll have more time

...

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