Ep 441: The New Rules For Retirement

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Entrepreneurship, Business

4.8 • 1.3K Ratings

🗓️ 18 September 2024

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

A few months ago, AARP released a survey that found that one in five Americans over 50 reported having no retirement savings, and over half don’t think they'll have enough money to keep them going in retirement. While many of us used to have pension plans to keep us afloat in retirement, now the vast majority of us rely heavily on Social Security and 401(k)’s. Our system and our life expectancy are just different now…which means we need to plan differently. (And yes, this means we need to actually make a plan.) Christine Benz, author of How To Retire: 20 Lessons For A Happy, Successful, And Wealthy Retirement, shares her top strategies for planning the retirement of your dreams. Chapters: 00:00 The Retirement Crisis 02:00 Planning for Longer Lives 04:01 The Shift in Retirement System 06:50 Challenges of Retirement 10:01 Cognitive Decline and Long-Term Care 13:46 The Bucket Approach to Retirement 22:14 How To Calculate Retirement Needs 26:24 The Impact of Taxes on Retirement 29:04 Non-Financial Aspects of Retirement Have a question for us? Write to us at [email protected]. While you’re at it, join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! Interested in learning more about investing alongside hundreds of other women? Join us every other Monday night on Zoom and learn more at investingfixx.com. Thank you to Gainbridge® for supporting the HerMoney podcast. Gainbridge® created ParityFlex™, a multi-year guaranteed annuity, to offer women security and flexibility at a time when they need it the most—retirement. Learn more about ParityFlex™ here. The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Use promo code HERMONEY at the link below to get an exclusive 60% off an annual plan at https://incogni.com/hermoney. Grab the exclusive NordVPN deal ➼ https://nordvpn.com/hermoney and get extra subscription time. Try it risk-free now with a 30-day money-back guarantee. Thanks to NordVPN for sponsoring our show. Please contact [email protected] if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to an airwave media podcast.
0:06.0	Her money is proudly sponsored by Edelman Financial Engines.
0:10.0	When you think about your financial plans, are you diversified?
0:14.3	After the year we had in 2022, it is a really good question.
0:20.7	Is it time you rebalanced or made other adjustments? Help make sure your
0:25.0	investing strategy is right for you. Visit plan EFE.com slash Hermani to
0:30.6	schedule your complementary wealth checkup.
0:35.0	Couple weeks ago, we released an episode with my friend Kim Commando about how it's becoming
0:40.2	increasingly important to take steps to protect your data online.
0:45.0	First and foremost, you should freeze your credit.
0:48.0	Another step you can take is to start going through websites that list personal details about you like your address or family
0:57.3	members or current and former workplaces and you can start trying to get those removed.
1:03.4	It is possible to ask these websites to remove you one by one
1:08.0	once one is taken down though,
1:10.1	our experiences another one will simply pop up.
1:14.0	Kim shared that she was impressed by services that do this grunt work for you,
1:19.0	one of them being incognite.
1:21.0	You can have peace of mind knowing that whenever a new record pops up on a data broker site,
1:28.0	Incogni will automatically take care of it for you. You can try Incogni today for 60% off an annual plan. Use promo code
1:36.7	her money at incogni.com slash her money to get an exclusive 60% off an annual plan. That's promo code Her Money at incogni.com slash Her
1:48.5	money.
1:49.7	Hey everyone I'm Jean Chatsky. Thanks so much for joining me today on Her Money,
	...

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