Tag: Personal Finance

Planning Ahead for Retirement (Ep. 87)

Planning Ahead for Retirement (Ep. 87)

Retirement should be a time of fulfillment, not financial stress, yet many retirees face unexpected challenges.

How can you make decisions today that your future self will thank you for? What steps can you take to avoid common retirement regrets and financial pitfalls?

In this episode, Josh Leonard and Pete Belcastro discuss essential retirement planning strategies, from managing healthcare costs to optimizing tax efficiency. They emphasize the importance of flexibility, debt management, and long-term financial preparedness to ensure a comfortable and intentional retirement.

Josh and Pete discuss:

  • The top financial concerns of retirees, including the fear of outliving savings and rising healthcare expenses
  • How to strategically plan for major purchases and avoid tax pitfalls in retirement
  • The impact of debt in retirement, including the pros and cons of using 401(k) loans and different debt repayment methods
  • The importance of financial flexibility, including maintaining an emergency fund and planning for unexpected family support needs
  • Common retirement regrets, such as not diversifying investments early enough or failing to plan for long-term financial security
  • And more!

Resources:

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Making the Most of Holiday Giving in Retirement (Ep. 81)

Making the Most of Holiday Giving in Retirement (Ep. 81)

Giving is a joyful part of the holiday season, and retirement offers unique opportunities to make it meaningful.

How can retirees balance financial, personal, and charitable giving during the holidays? How can creative and intentional choices enhance the spirit of giving?

In this episode of Relax, It’s Retirement, Josh Leonard and Pete Belcastro discuss strategies for embracing the joy of giving in retirement, including financial tips, creative gift ideas, and charitable contributions. From smart tax planning to handmade gifts, this episode is packed with practical advice for a thoughtful and budget-friendly holiday season.

They Discuss:

  • The emotional and personal rewards of giving during retirement, including the value of sharing time and handmade gifts
  • Creative and budget-conscious gift ideas, such as shared experiences and handmade items, to add meaning without overspending
  • Charitable strategies like Qualified Charitable Distributions (QCDs) and donor-advised funds to maximize the impact of financial giving
  • The importance of holiday traditions and how simple, shared activities can create lasting memories
  • Year-end financial planning tips, including Roth conversions and tax-efficient
  • And more!

Resources:

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Connect with Pete Belcastro: 

Are You Thinking About Un-Retiring? (Ep. 21)

Are You Thinking About Un-Retiring? (Ep. 21)

Retirement just isn’t what it used to be.  

In this episode, Josh Leonard discusses the concept of “unretirement” and finding a mission in the next phase of life. They challenge the conventional understanding of retirement, discussing the potential pitfalls, tax implications, and the emotional aspects of stepping away from a lifelong career.

Josh unpacks:

  • The future of retirement and how individuals are seeking purpose beyond the paycheck
  • Caution against claiming social security too early due to potential repayments
  • Reasons why individuals return to the workforce post-retirement
  • The emotional aspects of work: finding a mission, purpose, and social connection
  • How work can serve as a gateway to community involvement
  • Tax implications of relocating during retirement
  • And more!

Resources:

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5 Reasons to Ignore the Market When You Retire (Ep. 19)

5 Reasons to Ignore the Market When You Retire (Ep. 19)

Are you worried about the market affecting your retirement plans?

In this episode, Josh Leonard talks about five reasons to ignore the market when you retire. He explains each reason and emphasizes the importance of the corresponding retirement planning steps. But ultimately, it’s all about sticking to a long-term plan. Just like climbing a mountain, reaching the peak doesn’t mean you’re done. Your investments need time to grow. So, relax and tune in to learn more about creating a solid financial plan so you can ignore the market.

The 5 reasons Josh discusses: 

  • You still have a long timeline
  • You have planned for your retirement income
  • You can reduce market risk with a proper tax plan
  • Planning for market corrections
  • You have an ample emergency fund

Resources:

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