Retirement Elevated Podcast with Sean Lee

Maybe you are experiencing some more unfortunate situations lately when it comes to retirement. Is there a positive spin you can put on it?
 
Show Notes: https://retirementelevatedpodcast.com/podcast/finding-the-silver-linings-in-forced-retirement-situations/ 
 
Today's Rundown: 
0:37 - You are being pushed into an early retirement.
1:34 - What to do with a severance package.
2:45 - A forced retirement may push you to find clarity.
3:24 - Sean shares a client example of someone who was able to map out an early retirement plan.
6:01 - What to do when you get the lump sum buyout instead of a pension plan.
7:32 - Two things to consider with a lump sum.

With all of the things in the financial world that you can’t control, why would you sabotage your own retirement by messing up the things you can control? Let’s discuss some ways that people sabotage their own financial health.
 
Show Notes: https://retirementelevatedpodcast.com/podcast/5-ways-we-sabotage-our-own-retirement/
 
Today's Rundown: 
0:28 – We’re talking about sabotaging our own retirement today.
0:58 – The market continues to be very volatile in 2019.
1:58 – The first way we sabotage ourselves is getting to obsessed with the ups and downs of the market.
3:24 – Sometimes people have a plan but aren’t too confident in it if they are obsessing.
4:35 – Another way we self-sabotage is Social Security.  
6:25 – The next way we sabotage is by pretending long-term care won’t affect us until much later in life.
8:40 – We can sabotage our retirement when we assume we’ll always like our job because we enjoy it now.
10:08 – One of our favorite parts of the job is developing a strategy that allows clients to retire a little earlier.
11:42 – The last way is by not identifying how we want to live in retirement so that we can figure out how to maintain our lifestyle.

How effective is a portfolio that isn’t working in conjunction with a plan? If you’re just looking at the numbers in your accounts but not considering how that’s complimenting the other pieces to your plan, it’s not much more than speculation. This week we discuss why having a collection of financial products isn’t the same as having a plan.
 
Show Notes: https://retirementelevatedpodcast.com/podcast/why-a-portfolio-is-not-a-plan/
 
Today's Rundown: 
0:28 – Who is Sean pulling for in the World Series?
1:27 – What do we mean by ‘portfolio is not a plan’?
3:00 – You need a gameplan going into and having someone to help you with that is crucial.
4:46 – An advisor add significant value to a portfolio or a plan in three ways.
7:30 – What about some of the things that an advisor CAN’T do?
9:44 – When looking at planning, look at it from a holistic perspective.  

The retirement planning process lasts many, many years but your final decade of work is the time where you need to hammer out all of the details and get everything in order. We’ve put together a checklist of items that need your full attention during that last years of working so that you can enjoy retirement to the fullest.
On this episode:
0:28 – What we’re talking about on the show. 
1:18 – First, have a conversation about what’s most important to you in retirement.
2:47 – How it’s like baseball. 
3:12 – Second, now you need to look at the numbers.  
4:59 – Third, where are you getting the money from in retirement. Let’s estimate the income streams.
6:25 - This final decade of work is great time to strategize with your advisor since you’ll have a little time to build the plan.
8:29 - The next piece in this checklist is getting a handle on healthcare.
10:41 - Final thing, understand this is going to change over time and through retirement.
For show notes and additional resources, click here: https://retirementelevatedpodcast.com/podcast/why-the-final-de…ant-for-planning/

Think about the last time you took a flight? You got from point a to point b as you planned, but did you stop to think about what it took to get you there? That’s the same with financial planning and reaching our final retirement destination. There are many lessons we can take away from flying and we’ll share those on this episode.
Today's rundown: 
0:22 – Baseball tryouts going on for Sean’s son.  
2:04 – Talking today about what flying teaches about retirement. First, you have to have a flight plan.
4:49 – Turbulence affects everyone differently much like volatility.
8:03 – The market continues to bounce back no matter how many times it gets knocked.
9:18 – Pilots can’t do it all alone. They need help from air traffic control.
Get the full show notes and additional resources by visiting our website here: https://retirementelevatedpodcast.com/podcast/financial-lessons-we-can-learn-from-flying/

In the financial world, there are a lot of myths out there. Do you know what’s a myth (and what’s a bust) when it comes to these commonly held beliefs?
Today's show: 
2:48 - Myth or bust: Shifting from stocks to bonds removes the volatility from your portfolio.
4:55 - Myth or bust: Once you’ve retired, life insurance is no longer necessary.
7:14 - Myth or bust: You’re going to need less income when you retire than you need when you’re working.
8:40 - Myth or bust: You’ll be in a lower tax bracket when you retire.
10:17 - Myth or bust: Financial planning is easy to do without a professional thanks to the technology available.
Get the full show notes and additional resources here: https://retirementelevatedpodcast.com/podcast/busting-the-biggest-financial-myths/

Picking the right financial advisor can be one of the most important decisions you make for your retirement, but many times we end up sticking with the wrong person. Many reasons cause can lead to this, but we often justify our decisions with a few common excuses. Let’s look at some of the common ones we hear from clients.
Check out the full show notes for this episode by clicking here. 

Financial planning can take on many forms and your interests might not always be the sole priority. When you work with an advisor, there are steps that every plan needs to include and we’ll discuss those in this episode.
Check out the full show notes by clicking here. 
Today's rundown:
1:46 – What happened to financial planning?
3:05 – Are expectations being set for you?
4:09 – Why pure planning is a more comprehensive and personal plan.  
5:38 – Every financial plan should have five components.
6:05 – Too many advisors are skipping over the most important part of planning.
6:33 – We’re always trying to come up with the proper tax strategy.
7:26 – Healthcare as part of the plan.
8:25 – True planning is as simple as a one-page plan.
9:33 – What clients have been prioritizing in their financial plan.

Lighthouses are strong, beautiful, and protective towers, just like your financial plan should be. To weather the storms and avoid the potential financial obstacles, we’ll share how financial plans are similar to lighthouses, guiding you to safety.
Don't miss the show notes, which you can find here.
Today's rundown: 
1:55 - Is there a financial lesson to learn from lighthouses?
2:59 - Your financial plan provides safety from obstacles and risk. 
3:39 - Tax planning is one of your biggest obstacles to look out for.
6:05 - Envision a storm’s coming while on a boat and you can’t see where you’re going, but off in the distance you see a lighthouse, a beacon of safety.
8:11 - It’s not the ships (your tools) that get you to the right place, it’s the lighthouse (clearly defined financial plan).

For some people, the biggest problem with their financial planning isn’t that they make the wrong decisions but rather that they fail to make any decision at all. Other people, however, react instantly without giving it much though. Today we'll discuss a few areas that people usually hold people up in the financial decision-making process and then we'll give you ways to move forward.
To read more and to see the show notes, click here.