4 Hidden Risks in Retirement | S.2 Episode 21
- Duration: 26:42
- Updated: 23 May 2015
In this episode of “Your Money, Your Wealth,” CFP® Joe Anderson and CPA Alan Clopine discuss four hidden risks that could potentially derail your retirement Supporting the kids after college, medical expenses and inflation are some risks that can get in your way of living the retirement of your dreams. Tune in to this episode to learn how to prepare for the risks that retirement throws your way. CFP® and Senior Financial Advisor at Pure Financial, Jack Dugan, stops by the show to discuss rising healthcare costs and long-term care.
1:21 “If you are still taking care of your grown children [taking care of their car insurance, paying their cell phone bills], you are pushing off your retirement. Just these little expenses go a long away, so you want to make sure that you take care of yourself first”
5:56 “When you start taking distributions from your overall portfolio, it has everything to do with the sequence of returns, not necessarily the overall rate of returns”
7:18 “We’ve had a really good bull market, and as people are transitioning into retirement, as we all know what happened in 2008, it jeopardized a lot of retirements”
9:24 “Did you know that most employers will match a portion or percentage of your 401(k)?”
11:25 “The average 65-year old married couple over their lifetime will spend an estimated $220,000 for medical care as well as insurance” (Source: Fidelity)
12:54 Interview with Jack Dugan, CFP® begins
13:48 “Unfortunately, the long term care portion of the Affordable Care Act was one of the first things that was eliminated, so you are truly on your own”
15:54 “When you’re looking at insurance now, the cost has become extremely expensive”
16:37 “A 55-year old couple will probably cost about $10,000 to have a minimum coverage of $150 a day”
20:32 “If you are investing in stocks and bonds without real estate or without other alternative investments, you’re going to need some stock market exposure, otherwise you’re never going to have enough saved, you’re not going to keep up with inflation and you’re not going to reach those retirement goals”
22:19 “You’ve got to go to your tax return, you’ve got to figure out what your tax bracket is, look at line 43 on your tax return. That will tell you your taxable income and then look at the tax tables to figure out what tax bracket you’re in”
24:13 “There are different laws and rules when it comes to required distributions, so consolidation makes sense in most cases”
Aired 5/23/15
Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.”
San Diego:
Monday - Friday at 10:30 a.m. on Cox Channel 4
Saturday at 11 a.m. on Cox Channel 4
Orange County:
Saturday at 10 a.m. on Channel 31
Sundays at 7:30 a.m. on Channel 3.
http://purefinancial.com
IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor.
• Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
http://wn.com/4_Hidden_Risks_in_Retirement_|_S.2_Episode_21
In this episode of “Your Money, Your Wealth,” CFP® Joe Anderson and CPA Alan Clopine discuss four hidden risks that could potentially derail your retirement Supporting the kids after college, medical expenses and inflation are some risks that can get in your way of living the retirement of your dreams. Tune in to this episode to learn how to prepare for the risks that retirement throws your way. CFP® and Senior Financial Advisor at Pure Financial, Jack Dugan, stops by the show to discuss rising healthcare costs and long-term care.
1:21 “If you are still taking care of your grown children [taking care of their car insurance, paying their cell phone bills], you are pushing off your retirement. Just these little expenses go a long away, so you want to make sure that you take care of yourself first”
5:56 “When you start taking distributions from your overall portfolio, it has everything to do with the sequence of returns, not necessarily the overall rate of returns”
7:18 “We’ve had a really good bull market, and as people are transitioning into retirement, as we all know what happened in 2008, it jeopardized a lot of retirements”
9:24 “Did you know that most employers will match a portion or percentage of your 401(k)?”
11:25 “The average 65-year old married couple over their lifetime will spend an estimated $220,000 for medical care as well as insurance” (Source: Fidelity)
12:54 Interview with Jack Dugan, CFP® begins
13:48 “Unfortunately, the long term care portion of the Affordable Care Act was one of the first things that was eliminated, so you are truly on your own”
15:54 “When you’re looking at insurance now, the cost has become extremely expensive”
16:37 “A 55-year old couple will probably cost about $10,000 to have a minimum coverage of $150 a day”
20:32 “If you are investing in stocks and bonds without real estate or without other alternative investments, you’re going to need some stock market exposure, otherwise you’re never going to have enough saved, you’re not going to keep up with inflation and you’re not going to reach those retirement goals”
22:19 “You’ve got to go to your tax return, you’ve got to figure out what your tax bracket is, look at line 43 on your tax return. That will tell you your taxable income and then look at the tax tables to figure out what tax bracket you’re in”
24:13 “There are different laws and rules when it comes to required distributions, so consolidation makes sense in most cases”
Aired 5/23/15
Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.”
San Diego:
Monday - Friday at 10:30 a.m. on Cox Channel 4
Saturday at 11 a.m. on Cox Channel 4
Orange County:
Saturday at 10 a.m. on Channel 31
Sundays at 7:30 a.m. on Channel 3.
http://purefinancial.com
IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor.
• Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
- published: 23 May 2015
- views: 16