4.4 • 823 Ratings
🗓️ 5 November 2019
⏱️ 39 minutes
🧾️ Download transcript
This week we’re joined by Sam Robson from Motley Fool UK to explain the ongoing drama as the UK negotiates to leave the EU. We ask the embarrassing questions so you don’t have to.
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0:00.0 | This is Motley Fool Answers. I'm Alison Southwick and I am joined as always by Robert Brokhand. |
0:09.0 | Personal finance expert here at the Motley Fool. |
0:12.0 | Cheerio, everybody. |
0:14.0 | Yeah, that's right. Brexit. It's a thing that's trying to happen. |
0:18.0 | And on today's episode, we're joined by Sam Robeson from our UK office, |
0:22.7 | and he's going to answer roughly 10 questions about the Brexit that you're too embarrassed to |
0:26.7 | ask. But I'm not. All that and more on this week's episode of Motley Fool Answers. |
0:32.9 | So, bro, what's up? Well, Allison, over the past year or so, I've talked with quite a few retirees, friends, |
0:41.0 | family, fools, who are kind of like right on the razor's edge of retirement security. |
0:47.6 | If everything goes perfectly, they'll probably be okay. |
0:51.5 | But if something happens, like an unexpected expense shows up or a prolonged |
0:56.2 | market downturn, they're going to be in trouble. And the one thing all these folks had |
1:03.0 | was they retired too early. They retired at a point when they had some money, some reason |
1:08.6 | they thought that's enough. It turns out that it was maybe just enough |
1:13.4 | if everything goes perfectly, but they don't have a margin of safety. And for some of these |
1:19.6 | people, they're putting off things like home repairs, medical expenses, things like that, because |
1:24.4 | it's made them nervous. So because of that, I did some digging into |
1:29.7 | various studies that would really quantify the value of delaying retirement just a few years. |
1:36.0 | I came up with a few. I'm only going to highlight one. But repeatedly over and over, |
1:42.5 | it shows that just delaying a few years is going to significantly |
1:46.8 | enhance your retirement security if you're right at that edge of whether you have enough |
1:51.2 | or not. |
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