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.
2:07 “40% of unmarried women have saved less than $1,000 [for retirement], according to a 2016 Retirement Confidence survey by Employee Benefits Research Institute”
5:55 “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”
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