Tag Archive for: retirement income

Reaching Retirement Goals [Episode 174]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by Peter Lazaroff, co-Chief Investment Officer for Plancorp, to discuss steps to early retirement. They dive into Peter’s book, “Making Money Simple” as well as the plight of clients who want to retire on their schedule.

Peter describes the “four percent rule” as a financial rule of thumb, while both flawed and dated. He talks about the rule stays reliant on a specific value yielded or returned by your portfolio. He offers insight on how to properly calculate your finances, so you can retire without worrying about running out of money in retirement.

Peter also highlights how the COVID-19 pandemic may affect the retirement plan, if you are looking to retire at age 55. He emphasizes the importance of understanding monthly expenses each year and how that may be affected without the same amount of annual income.

He describes what he does for his clients, if their retirement projections are off. Peter also talks about what he does for his clients at Plancorp, designing a plan unique to the individual, finding tax opportunities, and helping them achieve their goals.

Managing Investment Plans for Retirement [Episode 172]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by certified financial planner John Gallia, of Gallia Wealth Management Group to discuss ways to navigate investments and retirement amid the COVID-19 pandemic.

John describes how the current political climate, as well as the 2020 Presidential Election, may affect the economic situations of clients, who are looking to retire. He also dissects how to navigate investment strategies and explains exchange traded funds and how they make up investments.

John also describes why one of the biggest fears among clients is running out of money while retired. He highlights why filling in lacking areas of an estate plan may be a helpful for those leery of investing in the current economic climate.

The group navigates “COVID fatigue” and how it may be affecting those with retirement on the horizon, as well as retirees. John highlights options that people have when they run out of money when retired, including reverse mortgages and refinancing the family home.

Pandemic Retirement Planning [Episode 164]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by Todd Oetken, financial advisor and Certified Financial Planner for R.W. Baird to discuss how to navigate financial planning amid the COVID-19 pandemic.

As the pandemic has continued, there continues to be economic consequences that seniors have to face, when looking to invest. Todd highlights how these circumstances may impact the financial landscape of both the end of 2020 and the beginning of 2021.

He describes concerns he is hearing from clients, regarding their financial futures and offers general tips on what financially to do during this stage of the pandemic.

Todd also talks about the spending habits of seniors and how, amid the pandemic, they should be adjusted to reflect the current COVID-19 crisis. He highlights the importance of a retirement plan and how creating one before you reach the age of retirement is vital for a financially solvent retirement.

Planning Retirement With Deferred Gratification [Episode 132]

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Attorney-CPA Joe Cordell and co-host Jill Enders break down the fundamental elements of planning for retirement. They highlight the importance of making responsible financial choices throughout your life, in order to create the assets necessary for a comfortable retirement.

They discuss the difference between occasional saving and being frugal all of the time, as well as how the ideal of deferred gratification can benefit your retirement outlook. Joe talks about working in some capacity after retirement and how it significantly can impact factors like social security.

They talk about the balance involved in work and health as you age, and Jill talks about how your unique financial situation can dictate whether or not you continue working. Joe and Jill describe how longevity and medical developments can affect your decision to supplement your income with additional employment.

Joe emphasizes the importance of understanding your medical history and how medical advancement and a subsequent extended lifespan can affect your need for additional finances in retirement.

The Changes in Saving for Retirement [Episode 129]

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Attorney-CPA Joe Cordell and co-host Jill Enders discuss many of the changes that have occurred in the economy and how it affects the methodology of saving money and planning for retirement. They dive into the various forms of benefits that an IRA and a 401K include and the differences between the two.

Joe also talks about the impact of the tax law that President Trump signed in 2018, and how it may impact an IRA or a Roth IRA. They also discuss the possibility of traveling and how being active in your retirement years can affect your funds.

By staying active, you can explore more of the world, but Joe and Jill both highlight the drawbacks of acquiring a part time job in your retirement years that may impede some of your activities or travels.

Joe and Jill also discuss the individuals who go into retirement with mortgages and how that can affect their retirement funds.

Then, Joe and Jill are joined by roving reporter and online editor Dan Pearce, who breaks down the investigation and estate plan issues surrounding Nathan Carman and his family.

Making Spending Adjustments for Retirement [Episode 118]

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Attorney-CPA Joe Cordell and co-host Susan Arthur are rejoined by Wealth Advisors and Certified Financial Planners Todd Oetken and Grant Roberts, both of Roberts & Kohler/Hilliard Lyons, a Robert Baird Company, to discuss a variety of topics related to financial planning and retirement.

They talk about what potential clients consider when choosing a financial advisor, as well as the intimate conversations that are required for financial planners, in order to get the full scope of a client’s unique situation.

Todd highlights how various aspects of one’s health and how they interact with their job before retirement affect what they choose to do after they retire. They also dissect the challenges involved in dealing with debt while attempting to retire.

Todd and Grant encourage accountability in spending, in order to assist in saving for retirement, as well as advocating the inclusion of the children in financial and retirement planning. They talk about the responsibility of the client, in having these types of challenging conversations about finances before anything traumatic occurs, so that family feuds can be avoided.

Todd and Joe discuss the benefits of children stepping in when parents reach senior ages and assist them in their day to day life, including with financial matters. Grant also talks about what occurs when a client does not have children or does not have children that live nearby.

Navigating Long-Term Financial Planning [Episode 48]

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Mark Werner, owner of Cornerstone Advisors and certified financial planning professional, returns to ElderTalk to discuss investing and retirement with attorney-CPA Joe Cordell and cohost Susan Arthur. He explains the importance of building an estate plan and looking long-term.

Retirement Living Decisions [Episode 32]

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Attorney-CPA Joe Cordell and Susan Arthur discuss decision factors that come into play when determining where to live during your retirement years.

Ensuring You Thrive In Retirement [Episode 6]

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With careful planning and smart strategies, it’s possible to have plenty of happy and fruitful retirement years. Mark Werner, wealth manager for the Carillon Group, gives tips to ensure you thrive in your retirement years.