How to Retire and Aim for the Same Standard of Living
I recently read an article that said retirees need 70% or more of their pre-retirement income to feel confident and enjoy their retirement years. Unfortunately, only about 25% of Americans are at that level, and many see a decline in their standard of living in retirement. What can you do to better your situation…
Retirement Mistake #3
We’re talking about the big mistakes people make. Mistake #1 is not protecting your income. Mistake #2 is taking on too much risk, especially as you’re nearing retirement. Today, we’ll talk about the third big mistake that we see repeatedly, regarding taxes. Mistake #3: People ignore the effects of taxes on their retirement savings. If…
The Secret to a Happy Retirement
I have some secrets to share with you today. Over the past 25+ years, I have helped families become comfortable and secure financially in and through retirement. If I were to ask you what the secret to a happy retirement is, you might say it’s having $40 million, traveling around the world, or sipping…
Queen for a Day
Mike: We have a special guest today, Elizabeth James. Normally, this is the fun part where I get to be king for a day, but this week we’re going to do something different; Elizabeth is going to be queen for a day. As king, I pick something that annoys me from the financial side of…
Another BIG Retirement Mistake
The number one mistake people make when it comes to their retirement planning is not protecting their income. I can’t stress this enough; if there’s only one thing you can do when planning for retirement, protect your income. However, this isn’t the only mistake people make. My wife could tell you I make multiple mistakes…
Solving the Tax Problem
We had fun in the last segment talking about football, and we came up with some new laws. Now, we’re bringing it back to financial talk. Taxes are on the agenda, and that’s always been my favorite topic. Taxes are important because they affect everyone. When you think about 401K plans, sometimes they can come…
Don’t Retire Dead Broke!
In this segment, we’re not necessarily talking about financial things. We’re going to have some fun. This is where I get to be king for a day. Each week when I’m king for a day, I make one financial rule just for fun. This week, I’m going to do one financial rule and one fun…
What’s the Goal for Your Money?
I had a great conversation yesterday with one of our clients about his retirement planning. He’s 38 or 39 and was maxing out his 401K plan. He was putting in roughly $20,000. His company matches about $8,000, but there’s about $12,000 that wasn’t getting a match. I asked him why he wanted to put money…
Protect Your Retirement Income
In this Segment, Michael Reese introduces a special guest, Ms. Elizabeth James, who has been an advisor at the firm for 19 years. Mike: Today we are going to focus on some of the biggest mistakes that we’ve seen over the years. I’ve been doing this for 25+ years, and Elizabeth has been doing…
When Should You Take Social Security?
Social Security can be confusing, and many people have questions about it. Here are five reasons people have given us for taking their Social Security early. I’ll tell you if it’s legitimate or if you should think twice: I’m retiring at 63. I want to take Social Security early as an additional source of…