What I Wish I Knew Before I Retired

Jun 2 2023 • 23 mins

Welcome back to another episode of The Retire One Show! Your hosts, Johnathan and Melissa Rankin, bring you insights from real clients about their retirement journeys. In this episode, we discuss the top things our clients wish they knew before they retired. Some key takeaways include:

Be More Aggressive Early On: Many clients expressed they wished they had been more aggressive in their investment strategies early on in their careers. It's crucial to understand that the longer your investment horizon, the more likely you are to see positive returns. However, this doesn't mean recklessly investing in risky assets. Rather, it's about creating a balanced portfolio that aligns with your risk tolerance and the purpose of your money.

Diversify Your Savings: A common regret was having all their money in retirement accounts, which led to significant tax implications during withdrawal. Diversifying your savings across different account types can help mitigate this issue. If you missed it, we covered where to save and what type of account to use in Episode 37 that you can watch here https://youtu.be/RRLtixfgCNg

Plan for Unexpected Costs: Unforeseen expenses can be a major setback in retirement. Whether it's home repairs, healthcare costs, or helping family members, it's essential to anticipate and plan for these contingencies as much as possible. According to a study, one in three people experienced retirement surprises that depleted 25% of their assets.

Retirement Can Be Boring: Lastly, some clients were surprised by how uneventful retirement could be. It's essential to have a plan for how you'll spend your time and keep yourself engaged once you've stopped working. Thanks for joining us, and we look forward to bringing you more insights on your retirement journey in future episodes!

#Retirement #Investing #FinancialPlanning #RetireOneShow

Please note that this description might not cover all the points discussed in the episode as the tool used for the research had a time limit. You can use the tool again to get more information if needed.

If you have questions or comments for the show email us Retire@theoremwm.com or head to www.Retireonceshow.com

See if you are on track to retire https://www.theoremwm.com/start-here

- - - - - - - - - - - - - - - - - - -

Our mission here at Theorem Wealth Management is to help diligent retirement focused savers achieve their dream retirement while reducing the stress caused by managing wealth.

- Johnathan Rankin CRPC® CEPA®, Founder & CEO

- Melissa Rankin - Wealth Management Advisor

- Theorem Wealth Management

🎁 [ULTIMATE RETIREMENT TOOL KIT] https://www.theoremwm.com/retirement-toolkit-download

👍 [SCHEDULE A CONVERSATION] https://www.theoremwm.com/start-here

😁 [REACH OUT ON FACEBOOK] https://www.facebook.com/Theoremwm/

➡️ [CONNECT WITH ME ON LINKEDIN] https://www.linkedin.com/in/johnathan-rankin-crpc%C2%AE-cepa%C2%AE-4a908b4a/

🌐[HOMEPAGE] https://www.theoremwm.com/

1️⃣[RETIRE ONCE] https://www.theoremwm.com/retire-once-show

-----------------------

#TheoremWealthManagement #RetireOnce #RetirementPodcast #Podcast

Disclaimer: Johnathan Rankin is a Registered Representative of Sanctuary Securities Inc. and an Investment Advisor Representative of Sanctuary Advisors, LLC. Securities offered through Sanctuary Securities, Inc., Member FINRA, SIPC. Advisory services offered through Sanctuary Advisors, LLC., an SEC Registered Investment Advisor. Theorem Wealth Management is a DBA of Sanctuary Securities, Inc. and Sanctuary Advisors, LLC.