On The Agenda:

As advisors, we are constantly immersed in retirement planning. But for the average person, retirement planning can be a lot harder than it looks. Today, we’ll break down whether Social Security, risk, diversification, and 401(k)s are truly easy or a bit more complicated than we realize.

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Episode Show Notes:

As advisors we are immersed in retirement planning every day, but for the average pre-retiree these things can be a lot harder than they seem. On today’s episode, we’ll list a few big steps in the retirement planning process and break down whether they are simple or a bit more complicated than you may realize.

When Will You Start Social Security?

If you’re 62 it’s tempting to start Social Security right away. But is that the best move? The longer you work and the longer you wait, the more your payment will be. The hard part is figuring out what works for you. That’s why working with an advisor can help you customize your Social Security approach.

Designing a Truly Diversified Portfolio

A lot of people assume diversification means having different accounts. But that’s not always the truth. It’s not getting the slice of each asset class. True diversification is about risk and how much of your money is safe. How is it growing? How are you using that money for revenue and income?

Managing Risk in Your Portfolio

Risk is a lot harder to manage on your own. We use a software that manages your comfortability with risk and therefore manages your portfolio appropriately.  When things are great in the market your risk tolerance may be different than in a bear market.

Rolling Over your 401(k)

Rolling over your 401(k) may seem easy but you can get bogged down in the details. Do you know how much is in pre-tax? How much is in a Roth? We don’t want you to end up paying taxes twice.

Listen to the full episode or use the timestamps below to jump to a certain section. Thanks for listening.

Important Points:

0:53 – Social Security

4:06 – True diversification

6:21 – Managing risk

8:36 – 401(k) rollovers

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