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Money Guy Show

You HAVE to Do This Before You Retire!

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.62.8K Ratings

🗓️ 13 March 2024

⏱️ 28 minutes

🧾️ Download transcript

Summary

"I'm transitioning to retirement in the next few years. What are the most important things to think about?"

We'll walk you through that question and more in today's Q&A episode!

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Transcript

Click on a timestamp to play from that location

0:00.0

Thinking about retirement, make sure you do this. Okay, we do this. Great question to kick it off with. It's a question from Gail.

0:13.4

It says, I'm transitioning to retirement

0:15.5

in the next few years.

0:16.9

Oh, congratulations.

0:17.8

What are the most important things to think about?

0:20.8

Mm.

0:21.8

Yeah, man, this one is really interesting and this is one we get a lot because everybody, they

0:26.9

dream about retirement. retirement is this thing that we look to the future and it's this amazing

0:31.8

thing and we have this goal that one day I'm going to retire,

0:35.2

one day I'm going to do this thing.

0:38.8

But since we're only going to likely do it one time and we want it to be pretty special, we want to make sure we're doing

0:43.8

the things on the front end to make sure it's successful because the last thing we want

0:47.3

us to work for our entire career and get to retirement and it turns out to be something less than what we thought it was and unfortunately

0:54.9

we've seen this happen a little bit because we're gonna kind of talk through

0:58.4

okay what are some of the things that you ought to think about but I think just on a high level kind of zooming out a little bit

1:04.7

obviously there's the mathematics obviously there's the knowing your number and walking

1:09.4

through that kind of stuff but one of the things that I tell people is the biggest thing that you need to figure

1:14.8

out as you're thinking about retirement, as you're thinking about financial independence, as you're

1:18.6

transition to that stage of life is don't just understand what you're retiring from. I'm getting away from the

1:24.8

nine to five, I'm getting away from that boss, I'm getting away from those colleagues, I'm getting

1:28.2

away from whatever that thing is, but really have a laser clear idea of what is it I'm retiring too because it's that

1:36.8

thing that you are retiring too that is going to give you the staying power

...

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