Our Take on the "No Retirement Savings" Crisis

The Stacking Benjamins Show

Joe Saul-Sehy | Cumulus Podcast Network

Investing, Business, Self-improvement, Education

4.2 • 1.9K Ratings

🗓️ 14 April 2023

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

Do you have anything put away for retirement? If so, you're doing better than 50% of women and 47% of men ages 55-66, according to U.S. Census Bureau data. Yikes! For today's roundtable, we welcome guest contributor Investopedia Top 100 Advisor in 2019, 2020, and 2021; Certified Financial Planner (CFP); and Retirement Income Certified Professional (RICP) Benjamin Brandt. We welcome Paulette Perhach back from her travels, and Len Penzo joins us from his bunker under flooded Los Angeles. They give their 2 cents on today's alarming headline - which is $0.02 more than almost half of Americans approaching retirement age have set aside, apparently! Double yikes! In our second part of the retirement savings discussion, we discuss a piece by JL Collins that pushes back against the idea that your home doubles as a retirement nest egg. In his trivia today, Doug comes through with timely data about expected retirement age - which, as we discuss, doesn't always pan out the way people plan. Flexibility is the name of the game, Stackers! FULL SHOW NOTES: https://www.stackingbenjamins.com/Fri-roundtable-1343. Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.StackingBenjamins.com/201 Enjoy! Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Did you know that Discover is more than a credit card with Discover's online savings account?
0:04.4	You can earn five times more interest than the national savings average. Five times.
0:09.1	There's no monthly fees, no minimum deposit, no monthly balance requirements.
0:12.9	It's FDIC insured up to the maximum allowed by law. Learn more at Discover.com and start saving
0:18.8	with confidence today. Discover Bank member FDIC. I mean, you're living in your mother's basement
0:25.3	right in the blog on finance. Really, you should stay off the computer
0:28.8	sign and get a job. Seriously.
0:37.2	Live from Joe's mom's basement. It's the stacking Benjamin show.
0:42.3	I'm Joe's mom's neighbor, Doug, and we're getting out the crystal ball today to figure out why
0:56.3	millions of people are close to retirement and have no savings. Today to help us figure it out
1:02.4	is Army Veteran and Retirement Guru Benjamin Brandt. I've got to break script here for just a minute
1:09.2	Joe and just say Benjamin, I really have to thank you for the acting you did and miscongeniality
1:14.1	and cloudy with a chance of meatballs too. I mean, it was just it's top shelf performance man.
1:18.9	It spoke to me. It moved me and I just I got to be a fanboy here on this one. Plus, the man who's
1:25.2	beating the retirement age average and doing it in style, Len Penzo. And lady writing her own
1:32.0	retirement ending in English and Spanish, Paulette per hatch. But that's not all halfway through
1:37.9	the show. We're going to find out which panelists can get my age list trivia question.
1:42.8	And now a guy who can talk about money until the cows come home, it's Joe's All-See-I.
1:54.2	Hey there stackers and happy Friday to you. Thank you for the introduction, Doug. I am Joe's All-See-Hi
1:59.6	average up money on Twitter and what a fun day we're going to have today because we're going to
2:04.7	get out more people retire on time. If not early, I'm super pumped about that and I'm pumped
2:09.6	that we've got these people with us. We'll introduce our special guest here in just a moment. But
	...

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