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Jim Martin has the heart of a teacher and wants to help you Retire AWESOME! Listen as Jim Martin, RFC, AAMS answers questions and teaches you how to retire on your terms. Jim is a Dave Ramsey ELP SmartVestor Pro so if you enjoy Dave Ramsey you’ll enjoy this podcast. Check out the Answers Today Podcast. Ask Jim a question here: https://retirementanswerstoday.com
Episodes
![Should you downsize your home in retirement? [Episode 10]](https://pbcdn1.podbean.com/imglogo/image-logo/6000453/Retirement_answer_today_podcast_1_1_1__mdgx82_300x300.jpg){kind=logo}
Monday Jul 13, 2020
Monday Jul 13, 2020
So, you’ve retired—congrats! You’ve got time on your hands and way too much space. Let’s talk downsizing!
Downsizing can be a liberating experience—especially when you no longer have to worry about cleaning and maintaining a big house. Plus, downsizing can help you flush out the old and start fresh! But beyond the day to day perks of downsizing, there are some great advantages of downsizing that can help you financially, as well.
Jim lays out all of the financial benefits of downsizing that are definitely things to consider. Jim details why these pros to downsizing are so beneficial and how they can be advantageous for your post-retirement finances. However, Jim also keeps it real by describing the cons—both emotional and fiscal—that should be considered when contemplating if downsizing is right for you.
Downsizing can be a big step, both emotionally and financially. Just like any big decision, it’s a good idea to weight the pros and cons and be mindful of your decision. Ultimately, it is YOUR choice, so learn about it before you make your big decision!
Looking at UPsizing, not downsizing? Whether you’re looking at buying a second home, a bigger home, or a home far far away, Jim offers some valuable advice to follow before you buy!
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Monday Jul 06, 2020
Monday Jul 06, 2020
Laid off? Hearing the words “you’re fired” can be very scary. They are words no one ever wants to hear, are often unprepared for.
So, is it possible to retire after being laid off?
Being laid off stinks. It knocks you down and sucker punches you. Hard. There are a lot of things to consider if you’re ever in that situation and even more so if you’re planning for retirement. Here’s the thing though: if you’ve planned, even a little bit, for retirement, you’re going to be okay.
Jim, having been laid off before, shares the good, the bad, and the ugly about layoffs. But what he offers in the episode of The Retirement Planning Guy Podcast, is a detailed explanation of what you need to do next to stay on track for retirement. Jim clearly outlines what your next steps need to be, both immediately and later down the line, to understand where you stand, where you need to be, and how to get to retirement.
Jim poses important questions for you to ask yourself after being laid off to determine when retirement will be right for you. Being laid off doesn’t have to impact your retirement plans. It may present retirement more quickly or push it out a few more years than planned, but there are a lot of factors to address before you make a decision about retirement. Jim discusses these factors; how to consider them and weigh them. He also poses different options for retirement after being laid off and encourages us to step back, get a clear understanding, and make well thought out decisions.
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Monday Jun 29, 2020
Monday Jun 29, 2020
How do you find the right financial advisor for you? This question is so common, but the answer is often unknown. If you’re passionate and willing to invest the time and energy into learning and nurturing your own finances, then you don’t need a financial advisor telling you what you already know. But for those of us that aren’t as knowledgeable, it’s imperative to do your homework when it comes to finding a financial advisor that puts you and your financial goals first.
To truly discover the best financial advisor for you, there are several factors to consider. Jim walks us through each avenue of financial advising and details the pros and cons to each. Jim discusses captive and independent financial advisors and shares what aspects of the two to weigh into your decision. He gives insight into certifications for financial advisors and what information they convey. Through his knowledge and experience, Jim offers us an insider’s perspective into the key factors to consider when searching for a trusted and credible financial advisor.
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Monday Jun 22, 2020
Monday Jun 22, 2020
Do you want to have fun and live in financial freedom in retirement? Well, good news—you can!
We see people all around us that are living it up in retirement, and we strive to achieve the same happiness when we retire. But then we get stuck on how to get there. Financial freedom is the name of the game, especially in retirement! So, Jim cuts through the white noise of cliché financial tips that are too often said but have little substance to get us moving in the right direction and away from worrying about money.
To have an awesome retirement, you need to take the right steps to financial freedom. Jim walks us through the structure of our finances and how much money is needed to cover essential expenses, discretionary expenses, and legacy. Jim helps us break down what each of the things should look like for us and what aspects of our finances we should be looking at to prepare for our retirement goals.
Once we’ve planned out our finances for retirement, then comes the fun part: planning what an awesome retirement looks like for each of us. That’s when you start to align your finances with your amazing retirement goals!
The bottom line is to be realistic with your retirement goals and how they align with your finances. The key to an awesome retirement is to find financial freedom, so tune in to learn how with The Retirement Planning Guy!
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Monday Jun 15, 2020
Monday Jun 15, 2020
Are you scared of running out of money—especially in retirement? Join the club! It can be scary for retirees to find their cash flow running dry. So, we need to start preparing, and saving your money now, so that you can be financially stable in retirement. No one has a crystal ball, but there are certain factors, such as inflation and taxes, that we can prepare for now in our financial planning that will give us security down the road. If you’re worried about having a steady and consistent flow of money in retirement, start thinking now about “tightening your belt just a little bit” so that it will go a long way in retirement. This episode covers different tips, like diversification and budgeting, that can help you building our financial plan for retirement. Jim reminds us that what’s important is planning your finances well now so that you can retire awesome later. And remember, the only thing certain is uncertainty itself, so be ready to adjust your financial plan and how you spend and save your money. Creating a thorough, realistic financial plan for retirement doesn’t mean constantly worrying about money and cutting out things you love; it just means being smart with your money!
Check out the Retirement Challenge with the Retirement Planning Guy to make sure you’re on the right track to retirement!
Monday Jun 08, 2020
Monday Jun 08, 2020
What is your plan to cover long term care during your retirement? Most people don’t like to think about going into a nursing home later in life, but it’s something that we need to think about when we plan for retirement. It’s essential to understand your options and begin to plan for and invest in long term care insurance early on so that you can prepare in the best way that will pay off best for you in the long run. Long term care insurance can be complicated and challenging to navigate, which is why you need to position yourself now to allow yourself to get the best long term care down the road. There are four clear ways to approach long term care that meet the needs of different people in different fiscal standings. Jim cuts through the weeds—offering clear direction for those in any financial situation to create a robust plan for their long term care insurance. Tune in to the Retirement Planning Guy Podcast to learn how Jim recommends you face long term care planning and set yourself up for a rewarding, care-free retirement. www.planwellretirehappy.com
Monday May 25, 2020
Monday May 25, 2020
No one likes to fail—especially when it comes to retirement. Jim digs into the nitty-gritty of retirement mistakes that he sees so many people make and outlines the steps to follow and plans you need to have in place to avoid them and retire without regrets. You may be eager to retire but pump the breaks and educate yourself first so that you aren’t scrambling to make ends meet later. Jim explains why three key mistakes can wreak havoc on your plans for retirement. He shares insight on the biggest mistake that people make in retirement: not having a retirement plan, and even walks you through the critical aspects of a successful retirement plan. His knowledge and perceptiveness help you gain perspective when it comes to preparing for your own retirement. Jim reminds listeners that the most important thing to do to avoid mistakes and plan for retirement well is to “be real with your money.” Enjoy the Retirement Planning Guy Podcast.
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Monday May 25, 2020
Monday May 25, 2020
So many of us are working towards retirement, but never entertain the idea of early retirement because it seems unattainable. The truth is, retirement, and–even more so—early retirement takes a lot of work and serious planning. In this episode, Jim helps navigate the road to early retirement and clearly outlines the steps we need to take in order to reach our goal of retiring early.
Some are lucky enough to come into money that allows them to fall into early retirement comfortably without have to work hard to earn and save for it. For those that don’t have such luck, Jim explains the importance of having a frugal mindset now to retire early later. He reminds us that that the best way to achieve wealth is by being intentional about the way you spend and save your money. Jim chats about everything you need to know if you want to thrive in early retirement! Enjoy the Retirement Planning Guy Podcast
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Monday May 25, 2020
Monday May 25, 2020
It can be difficult for retirees to adjust to their newfound freedom and ample time. Often, being newly retired begs the question, “What’s next?” After working long hours and following a routine for a large portion of your life, transitioning into retirement at any age can be a considerable change. Our work becomes a part of our identity and gives us a sense of purpose, a sense of belonging, and allows us to make an impact. So, when our work is gone, we can be uncertain of what to do next and how to navigate retirement. In this episode, Jim speaks to this challenge that many retirees face and offers insight and encouragement for listeners. He chats about several options, including exploring new and old hobbies and helping others, that retirees can partake in to fill their time and discover where their value lies in retirement. Jim empowers retirees to find their purpose and find ways to continue to make an impact, reminding us that retirement is not an end, but the beginning of a new happy and fulfilling journey! Enjoy the Retirement Planning Guy Podcast.
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Monday May 25, 2020
Monday May 25, 2020
In the very first episode of the Retirement Planning Guy podcast, Jim dives in to answer the age-old question, “How do I reach my retirement savings goals?” This question can be daunting, and we often find ourselves chasing this elusive “magic number” of savings without really understanding what it is and how to achieve this retirement goal. Jim brings to light the idea that there isn’t a “magic number.” He uncovers that, on the contrary, everyone will have different retirement goals because everyone has different priorities and lifestyles. Through his simple retirement calculator and clearly outlined steps, Jim helps you tackle your retirement planning the right way. He also speaks to the things you should be aware of and how to be smart about setting up a resilient retirement plan. Jim makes planning, saving, and budgeting for retirement interesting and easy with tips and tricks that anyone and everyone can use. Tune in to learn how to calculate your retirement savings and reach your goals! Enjoy the Retirement Planning Guy Podcast
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