Can You Retire Before Mom and Dad? With Robert Berger
Play episode · 46 min

Robert Berger, Deputy Editor at Forbes and author of Retire Before Mom and Dad, is passionate about helping others build financial independence. In this episode, I talk with Robert about how to plan for retirement and the seven levels you need to reach financial freedom.

In today’s episode, you'll find out:

  • What “retirement” can look like for you
  • The seven levels of financial independence
  • Is the 4% rule still relevant?
  • How student loan borrowers can reach financial independence
  • What is the “money audit” and how it can help cut your spending
  • Why cars are a financial freedom killer
  • What retirement account is the best first step to investing
  • Why expense ratios are a huge factor in investing
  • How to experiment with your finances to increase your savings

Full show notes at: http://studentloanplanner.com/47

Retirement Answer Man
Retirement Answer Man
Roger Whitney, CFP®, CIMA®, RMA, CPWA®, AIF®
Unexpected Retirement: How Do I Find Work to Fill the Gap?
What do you do if you lose your job but you’re still not ready to retire? Whether it’s personally, professionally, or financially, if you’re not ready to retire then you’ll have to take action to find new employment. How do you fill that gap between this job loss and retirement? On this episode of Retirement Answer Man, we’ll brainstorm some ways that you can take action to find your next job. What happens to you when you lose your job? Losing your job sucks. It never feels good to get pushed in a direction that you aren’t ready to take. It can zap your confidence even if the job loss had nothing to do with your performance. There are several things that happen when you lose your job. You lose your connections. You lose the rhythm of your life. You lose the intellectual challenge. And of course, you lose your income. Losing your job can make it feel like all your dreams have been zapped away. What next? While it’s okay to have feelings of anger, sadness, and remorse, you don’t want to wallow in them. One outlet you can take is to journal. When I’m faced with a difficult situation, I like to get all my feelings out on paper. I essentially yell into the page. This form of release can even help me figure out what my next step will be. If you find yourself floundering and you don’t know what to do next, be sure to listen to episode 346 to discover some first steps to take when you lose your job. It’s important to start to get that forward momentum going so you don’t just sit there shellshocked. Ways to fill the income gap quickly What if you are really strapped for cash and you need income right away? If you don’t have the cash reserves to wait out a lengthy job search there are several ways that you can start earning income quickly. * File for unemployment * Register at temp agencies like Manpower. * Declutter your house and sell things on OfferUp or eBay. * Deliver groceries or food with UberEats or drive for Uber. * Consider a job at Starbucks if you need health benefits. * Tutor online or teach English remotely None of these are perfect solutions, but they can help you be proactive and gain forward momentum. How do you move forward in your job search? The first step to take in your job search is to update your resume. It may have been a while since you have done so. Here are some tips for resume writing from an experienced HR professional: * Look for keywords in the jobs that you want. Listen in to hear why your resume often won’t make it past the screening stage without these keywords. * Have a base resume then tweak it to the specific job. Gone are the days when you only have one resume. * Review resume examples for the job you want. * Make your resume simple and easy to read. * Focus on measurable accomplishments. * Put the most important information first and only use the last 10 years of your work history in your resume. * Use these action verbs to help your resume stand out. Listen in to hear what you should do after you update your resume to help you take action and find your next job. Stick around until the end to hear the Coaches Corner segment with BW to learn about your changing relationships in retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT * [3:52] What happens to you when you lose your job unexpectedly? * [10:02] Ways to fill the gap quickly * [13:08] How do you move forward in your job search? COACHES CORNER WITH BW * [20:20] Changing relationships with your spouse * [23:40] What can you do to help your relationship? * [28:12] Define your roles * [31:04] Communication is key TODAY’S SMART SPRINT SEGMENT * [38:47] Pick a couple of ways to take action Resources Mentioned In This Episode 139 Action Verbs Episode 346 - 5 Things to do When You’re Suddenly Retired Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement by Roger Whitney Work with Roger Roger’s Retirement Learning Center
41 min
Retirement Starts Today Radio
Retirement Starts Today Radio
Benjamin Brandt CFP®, RICP®
Medicare Basics: What to Expect as You Approach Age 65 with Danielle Roberts, Ep # 163
You asked and I listened. This summer I asked you all for your thoughts on the show and many people responded that they wanted to hear more deep dives into complex subjects. We tried this out with the Living Off Your Savings series and now we’re taking some extra time to discuss Medicare. This episode is the first of a 4 episode series on Medicare. Grab your headphones and press play to begin your Medicare education. Since I am not a Medicare expert, I have invited Danielle Roberts with Boomer Benefits to teach us about this nuanced subject. Make sure to stick around until the end of the episode to learn how you can get a free copy of Danielle’s new book, 10 Costly Medicare Mistakes You Can’t Afford to Make. Outline of This Episode * [3:22] When should people start looking into Medicare in earnest? * [7:10] Why is Medicare Easy-Pay a good option? * [10:03] What will medicare pay for? * [12:25] What do your taxes pay for? * [17:15] Part D is an optional drug plan When should someone start thinking about Medicare? The official Medicare enrollment period begins 3 months before your 65th birthday and this is often the time when people usually begin to start thinking about Medicare. Age 64.5 is a great time to begin to research your Medicare choices. In addition to Danielle’s book, there are plenty of resources online to help you educate yourself. After you listen to this series, YouTube and the Medicare website are good places to continue learning. What costs are involved in Medicare? Some people are surprised to find that Medicare is not free. There are costs involved that you need to be aware of to properly plan for retirement. In addition to the monthly fee taken directly out of your Social Security payment, there are deductibles for inpatient and outpatient services as well as copays or coinsurance for doctor visits. Listen in to understand why it’s important to do your research early on to decide on what kind of extra coverage you may need. What are the different parts of Medicare? Medicare Part A is what your Medicare payroll taxes have been paying for all these years and it covers hospital stays. Part B is what gets taken out of your Social Security check each month and this piece covers outpatient care. Medicare Part B pays only 80% so it is important to consider how you will cover the other 20%. This 20% can be supplemented in 2 ways. Listen in to hear what the difference is between Medigap and Medicare Advantage plans. How you can receive a FREE copy of Danielle’s book Danielle is a fountain of Medicare information, so you won’t want to miss this series. On the next episode, you’ll hear what to expect if you retire before or after age 65. If you want a chance to get a free copy of Danielle’s book sign up for the Every Day is Saturday newsletter and respond to that email with a promise to leave an honest review of this podcast and Danielle’s book. So, if you haven’t already signed up for Every Day is Saturday, head over to RetirementStartsToday.com and hit subscribe. Resources & People Mentioned * Start here to listen to the Living Off Your Savings series Connect with Danielle Roberts * Boomer Benefits * BOOK - 10 Costly Medicare Mistakes You Can’t Afford to Make by Danielle Roberts Connect with Benjamin Brandt * Get the Retire-Ready Toolkit:http://retirementstartstodayradio.com/ * Follow Ben on Twitter:https://twitter.com/retiremeasap Subscribe to Retirement Starts Today on Apple Podcasts,Stitcher,TuneIn,Podbean,Player FM,iHeart, orSpotify
22 min
Money! with Stacy Johnson
Money! with Stacy Johnson
MoneyTalksNews.com
Is It Time to Buy Real Estate? feat. Mindy Jensen
I bought my first house back in 1978, shortly after leaving college. Since then, I’ve bought and sold a fair amount of property, including raw land, apartments and homes, and made good money doing it. Recently I began thinking of buying another home and converting my current one into a vacation rental property. But is now the time to buy? Real estate, like the stock market, has been red-hot in many parts of the country, aided by historically low mortgage rates. But the economy is showing signs of stress: unemployment is at levels not seen since the great recession, and government-mandated foreclosure moratoriums will expire at year-end, which could hurt home prices. So the question is, should I buy now, or wait till the dust settles? That’s just one of the topics on this week’s “Money” podcast ( https://radiopublic.com/money-6rRgm9/episodes ). We invited real estate podcaster Mindy Jensen from Deeper Pockets ( https://www.biggerpockets.com/podcast ) to be our guest. We talked to her about whether it’s time to buy, how to get started, whether rental real estate is a good investment and lots of other things. If you’re considering buying a house or investing in any kind of real estate, you’ll like this one. As usual, I share the broadcast booth with longtime financial journalist and fellow podcaster Miranda Marquit ( https://www.moneytalksnews.com/author/mirandamarquit/ ). Sit back, relax and give it a listen! Links: * Which Is the Better Investment: Stocks or Real Estate? ( https://www.moneytalksnews.com/which-is-the-better-investment-stocks-or-real-estate/ ) * How to Get In on Real Estate Investing Even If You Don’t Have Much Money ( https://www.moneytalksnews.com/get-in-on-this-investment-long-favored-by-the-rich/ ) * 15 Tips to Find, Buy, and Rent Real Estate ( https://www.moneytalksnews.com/buying-rental-real-estate-7-tips-tenants/ ) * Bigger Pockets ( https://www.biggerpockets.com/ ) Hosts: * MoneyTalksNews ( https://www.moneytalksnews.com/ ) * MirandaMarquit.com ( https://mirandamarquit.com/ ) Ask us a question ( https://www.moneytalksnews.com/contact/ ) Support this podcast at — https://redcircle.com/money/donations Advertising Inquiries: https://redcircle.com/brands
32 min
Suze Orman's Women & Money (And The Men Smart Enough To Listen)
Suze Orman's Women & Money (And The Men Smart Enough To Listen)
Suze Orman Media
Ask Suze Anything: October 29, 2020
In this “Short & Sweet” edition of Ask Suze Anything, Suze answers questions from Women & Money listeners selected and read by KT. We hear from Susan, Erika, Erica, Alicia, Christina, Rosie, Tess, Jen, Anonymous, Julie, and Roth Confused. They ask: Should I invest money I received as a gift or put It into a high interest savings account? I co-signed a former friend’s car loan. That person defaulted and had the car repossessed. My credit is now negatively affected, what can I do? As a single mom, should I authorize my three-year-old daughter on my credit cards to help her build good credit? Can I still collect my deceased ex-husband’s social security? I opened a UMGA / UTMA account for my 17-year-old son. Was this the right account to open? How can I avoid paying capital gains tax on a home I own and rent out? Can you recommend a good ID theft insurance company? I am looking for some more clarity on how I should contribute to a Roth IRA. Should I continue to give to charity while I am paying down my credit cards? Why do you recommend waiting four to five months before funding a back-door Roth IRA? Can you explain what the five-year Roth rule is?   To Become A Must Have Documents Suze Ambassador,CLICK HERE. JUST LAUNCHED! Join Suze’s Women & Money Community for FREE and ASK SUZE your questions which may just end up on her podcast! To ask Suze a question, download by following one of these links: CLICK HERE FOR APPLE   CLICK HERE FOR GOOGLE PLAY To find the right Credit Union for you, CLICK HERE See omnystudio.com/listener for privacy information.
29 min
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