Today’s show is about retirement myths that ruin most retirees’ plans. Find out why Baby Boomers won’t be able to have a retirement like their parents.
02:07 “40% of unmarried women have saved less than $1,000 [for retirement], according to a 2016 Retirement Confidence survey by Employee Benefits Research Institute”
05:55 “The opportunity is that we are living a lot longer and we get to enjoy our golden years longer which is great, but we also have to have a plan to cover it because it’s not just Social Security anymore”
12:58 “Al and I have seen people who have millions of dollars and they blow through their money very, very quickly. Then we see people who have less than $100,000 and live a very comfortable retirement. It’s about figuring out what retirement looks like to you”
18:09 “The Bureau of Labor Statistics predicts that more than a fifth of boomers 65 and older will be holding on to a job in 2024. When their parents were the same age in 1994, only a tenth were still employed”
27:12 “A lot of people are shocked when they find out how different types of retirement income are taxed, and I want to go through the six most common types of retirement income and how they’re taxed”
32:12 “For those who have been listening to our show and have been doing Roth IRA contributions and Roth conversions, you’ll be very happy to know that as you take money out of those accounts, it’s all tax-free—100% tax-free”
Listen to the YMYW podcast:
Amazon Music
AntennaPod
Anytime Player
Apple Podcasts
Audible
Castbox
Castro
Curiocaster
Fountain
Goodpods
iHeartRadio
iVoox
Luminary
Overcast
Player FM
Pocket Casts
Podbean
Podcast Addict
Podcast Index
Podcast Guru
Podcast Republic
Podchaser
Podfriend
PodHero
Podknife
podStation
Podverse
Podvine
Radio Public
Rephonic
Sonnet
Spotify
Subscribe on Android
Subscribe by Email
RSS feed
IMPORTANT DISCLOSURES:
Pure Financial Advisors is a registered investment advisor. This show does not intend to provide personalized investment advice through this podcast and does not represent that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the podcast in the process of making a full and informed investment decision.
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor.
• Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations.
• Opinions expressed are not intended as investment advice or to predict future performance.
• Past performance does not guarantee future results.
• 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. As rules and regulations change, content may become outdated.
• 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.
CFP® – The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation.
AIF® – Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.
CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period.
