Will I Have Enough?

Talking Real Money - Investing Talk

Don McDonald

Business, Education, Investing, How To

4.2 • 680 Ratings

🗓️ 7 May 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tom and Roxy Butner to co-host a packed episode of Talking Real Money, tackling the ever-elusive "magic number" for retirement with a healthy dose of realism, humor, and data. They dig into a Northwestern Mutual study that shows Americans lowering their retirement savings goals—even as confidence continues to slip. Roxy breaks down why retirement planning is all about cash flow, not some mythical lump sum. They field questions on company stock in 401(k)s, bonus check strategies, RMD tax strategies, and how to get young people started right. From Monte Carlo analysis to Roth IRA advantages, the duo bust myths and offer practical steps listeners of all ages can act on today. 0:04 Tom introduces Roxy and the episode’s core question: “Do I have enough to retire?”1:01 Why the idea of a single “magic number” is misleading and varies by lifestyle2:41 Roxy: $600k may be enough—or $3M might not be; it’s all about cash flow4:32 Despite lowering their goals, only 51% believe their retirement plan will work6:15 Roxy explains Monte Carlo analysis and why asset type (Roth vs. pre-tax) matters7:31 Why tracking actual spending matters more than estimates before retirement8:32 Caller: Should we sell the company stock in my wife’s 401(k)?9:18 Tom warns of overconfidence and stock concentration risk, citing WaMu collapse10:45 Roxy and Tom agree: diversify ASAP—don’t let company loyalty cloud judgment12:14 Historical cautionary tales on once-great companies that fell apart13:26 Regional bias: How geography skews investor confidence in local companies14:46 Caller: What to do with a $20k bonus after maxing out the 401(k)?16:11 Roth IRA contribution options for him and his wife, and the 5-year rule18:10 Bonus: Enhanced catch-up contributions for ages 60–63 explained20:31 Caller asks about RMDs, tax planning, and long-term care deductions21:53 Only qualified charitable distributions (QCDs) avoid tax on RMDs23:24 Roth contributions early in life can lead to massive long-term advantages24:47 Caller asks about a bond fund change in her HRA and 60/40 portfolio safety29:45 Why “safe” is the wrong word—know your plan, goals, and risk tolerance31:13 Caller wants her daughter to connect with Roxy for help managing her paycheck32:54 Yes—Roxy helps young clients with budgeting and financial foundations34:31 Why early saving and simple investing in your 20s is so powerful36:09 Tom announces upcoming trip to Portland and free portfolio reviews37:08 Final notes: building trust, long-term planning, and why they love the work Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Reality Radio for a really great future.
0:08.0	We're talking real money.
0:10.7	Our job is to talk about your finances, your money every single day.
0:17.3	Yeah, we kind of do that.
0:19.0	That's why they call it talking real money.
0:20.7	We've been doing this for a long
0:21.5	time. I'm your host Tom Cock, Don McDonald, has the day off. Roxie is here with me today. Roxie
0:28.0	Butner. Thank you. One of our advisors at Appella Wealth and well known to our fellow
0:33.7	podcaster. So those of you listening to the radio, only listen to the radio, this first time we've heard her. So it does a great job with our clients. And, well, actually,
0:42.0	she was just nice enough to work on a Saturday. That's how you ended up. I didn't want to break that
0:45.5	to you because I went through all the other eight advisorsure is always, I guarantee this. If I meet,
0:58.1	and I think I am going to meet like 10 new people next week, the number one question will be,
1:03.7	do I have enough money to retire? It always comes up. And the answer is generally, I really don't know
1:09.9	because there's a lot that goes into it.
1:12.8	So when I read these stories and I read these polls and I read this stuff like, the magic number
1:18.0	now is this number.
1:20.9	Well, how in the world could anybody know?
1:23.7	I don't know my magic number, by the way, either.
1:27.1	And there isn't really a magic number because these things go up, they go down.
1:30.8	There's all kinds of other factors about, well, the one I think is maybe most important,
1:35.9	how much you're going to spend before knowing the magic.
1:38.3	But, okay, there's a new poll, new pull out, done by Northwest Mutual, where they pulled Americans and people said, I need $1.26 million
	...

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