Successfully Retired

How Retirees (Actually) Spend Money

One of the big "aha" moments for many families planning for their retirement is when they see how much they specifically are able to spend and withdraw from investments in retirement.
 
A big shock to many is that when you study the spending habits of retirees, you see that retirement spending is seldom flat or linear.
 
Instead, retirees often want to (and do) front-load spending and consume more in their first 10 years of retirement than in their next 10 years of retirement; and often times even spend more in the first 10 years than their last 10 years; despite the rising cost of healthcare late in retirement.
Today Rick Luchini and I dig into exactly what drives this type of spending pattern, and how we work with families to identify their best spending strategy in retirement. 

7 Things I'm Doing In A Down Market (And 3 Things I'm Not)

Today's episode is a little more topical to the time.
I'm walking through a few parts of my down-market playbook, for 7 things I am doing at work when the market is down, and 3 things I am not doing.
 
My business is obsessed with pushing "risk tolerance questionnaires" in front of client's faces. I personally can't stand that. I don't think there's any way to actually prepare yourself for how you're going to feel when your investments lose money, and it's an exercise in futility to try to guess; let alone to make decisions based off of a hypothetical "what-if" when you're sitting in a calm air conditioned office.
But though you may not be able to forecast your feelings, you can decide rationally what your gameplan ought to be when, not if, stocks lose money. Because simple things become hard when you introduce stress and pressure, it's important to document your down market strategy before things are bad, to improve the chance you'll actually stick with it. 

Retiring In 5 Years? Check this (non-financial) list off first

When families get close to retiring they start going through all the checklists:
Get investments in orer
Do the will
Etc., etc...
However, getting your financial house in order before evaluating your retirement's priorities and activities is like getting cart before the horse.
Today Rick Luchini and I chat about some of the top things we would do that are not related to our money if we were going to retire in 5 years or less.
 
Learn more at www.brandenburgFS.com 

Wills and Trusts - The Things You Know That Just Aren't So - With Meredith Ditchen-Oakley

Think you know your estate plan? Take a listen as Attorney Meredith Ditchen-Oakley of Woodstock GA and I discuss some of the big things that people are mistaken about when it comes to executing their estate plan.
 
Learn more about Meredith at www.ditchenlaw.com and be sure to check out my website at www.brandenburgFS.com

Reverse Mortgage - What They Are, How They Work - With Jake Droge

Have you heard of a reverse mortgage?
 
Maybe someone told you a horror story. Maybe your neighbor got one and loved it. Maybe you saw Tom Selleck on TV talking about them. Well if you'd like to learn the truth about what they are and how they work without being sold, be sure to give a listen to this interview with Jake Droge, a lender who works in the reverse mortgage space.

The Most Unappreciated Retirement Account

Today I talk about what I think is the most unappreciated retirement savings account: The taxable brokerage account.
 
While most people have heard the benefits of the Roth IRA or the 401(k), far too few retirees I've met saved as much as they'd benefit from in a taxable brokerage account.
Listen in as Rick and I discuss:
 
What a taxable brokerage account is
How they work
How (when used right) they can help retirees take advantage of the tax code to make their dollars stretch further.
 
To learn more visit https://brandenburgfs.com

A Richer Retirement - How Much Can You Withdraw from your Investments? With William Bengen

In today's episode Rick Luchini and I interview William Bengen - the financial planner who discovered the "4% Safe withdrawal rule" that answered the question "How much can I withdraw from my investments without running out of money?" based on historical research.
 
In our chat we talk about what the retirement landscape was like when Bill first pioneered his research, the biggest risks Bill sees retirees facing today, and how he's updated his approach over the years. Bill also talks with us about how this has lead to another research project for him - his upcoming book "A Richer Retirement: Supercharging the 4% Rule to Spend and Enjoy More." Listen in to hear more about retirement income planning and learn more about my firm at www.brandenburgFS.com

3 Ways To Save for Your Kids (or Grandkids) Education

What type of account should I choose for my kid's or grandkid's college expenses?
What happens if they don't use all the money in their 529?
 
This is a question I get pretty often, from clients as well as from friends at dinner and other parents at the playground.
In today's episode I walk through the 3 most popular account types I see in my practice for saving for your kid's education, as well as some of the pros, cons and trade-offs of each. 
 
To learn more, visit https://brandenburgFS.com