5 Wrong Assumptions People Make About Retirement

Ready For Retirement

James Conole, CFP®

Investment Planning, Bonds, Education, Stocks, Cash, Business, Dividend Investing, Retirement Planning, Retirement, Investing, Tax Planning

5 • 706 Ratings

🗓️ 27 December 2022

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of Ready for Retirement, James discusses 5 assumptions that you shouldn't make in retirement. Questions Answered: What are the best practices when making assumptions in retirement?What are the best strategies to create income in retirement?How can your overall retirement strategy be improved?Timestamps: 00:00 - Introduction 4:22 - Example of an Investor 6:28 - Short-Term v. Long-Term 12:15 - Retirement Income (Reality) 16:15 - Aligning Your Financial Goals (Cash Fl...

Transcript

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0:00.0	Discover the tips and strategies that will help you achieve your retirement goals.
0:09.3	I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.
0:14.2	It all starts right here on Ready for Retirement. for retirement.
0:29.5	Hi, everyone, and welcome back to another episode of Ready for Retirement.
0:30.7	I'm your host, James Cannell.
0:34.8	Today we're going to be talking about wrong assumptions people make when it comes to retirement planning. And specifically, five of those wrong
0:38.2	assumptions. And the reason for this is when we try to plan our retirement, really what we're doing
0:43.5	is taking guesses. Now, taking guesses doesn't sound great, so we call them assumptions instead.
0:49.2	We make assumptions about how long we will work, how much we will save, how much the market
0:53.8	will grow by, or our portfolio will grow by, what will inflation be, how long we will work, how much we will save, how much the market will grow by,
0:54.6	or our portfolio will grow by, what will inflation be, how long will we live, what will
0:59.5	social security look like? All of these are things that we can take our best guess or make
1:04.7	our best assumption about, but we also have to acknowledge that there's no way to know for
1:09.1	certain what some of these things will look like. However, I do commonly see five wrong assumptions that people make about
1:16.7	retirement. These five wrong assumptions are very easy to start to dismantle, very easy to see
1:22.2	where the flaws are. And when we're looking at retirement planning and looking at the things we need
1:26.4	to do to be on track for successful retirement, it's equally important to avoid wrong assumptions as it is to make good assumptions.
1:34.4	So in today's episode, I'm going to outline five of the wrong assumptions I see people make when it comes to retirement planning so that you can make sure you're getting it right for your situation.
1:44.0	Just a quick reminder before we jump in that if you have not already done so, be sure to check out this podcast on YouTube.
1:49.7	It's under the root financial page.
1:52.4	Under that, you'll find this episode.
1:54.2	You'll also find other content that will help you to create that more secure retirement and to get the most out of life with your money.
	...

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