Feb 2, 2023
On this episode the Your Life, Your Money Podcast, Scott Sierens delves into why he believes there are three key questions that everyone should be asking themselves in order to ensure that they are properly preparing for retirement.
These questions cover some of the most critical elements of the retirement planning process and are essential for anyone looking to secure their financial future. By asking and answering these questions, you can gain a better understanding of your retirement goals and develop a plan to achieve them.
Here’s more of what you’ll learn on this episode:
- Scott first breaks down a CNBC article that lists the 10 states where $1 million runs out the fastest. Are you living in one of these states? Are there some caveats to these findings you should be aware of? Scott picks it apart… (1:56)
- The first retirement question you should be asking is, “How much can I withdraw from my savings each year?” (6:20)
- Take it a step further and ask yourself the question, “When do I need to make an adjustment?” (10:10)
- Scott details why this first question (and its follow-ups) is so important to ask. (11:35)
- The second question you should be asking is, “Should I still have life insurance when I retire?” (13:15)
- The third retirement question you should be asking is, “How much are my tax deferred savings going to cost me in taxes?” (17:42)
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