This episode explores the disconnect between retirement expectations and reality, referencing a recent Gallup report that shows most retirees live comfortably despite fears about running out of money.

Hear Tyler Emrick, CFA®, CFP®, discuss why non-retirees may be more fearful than needed, the role of Social Security, and how age-based spending patterns contribute to the relative success of sustaining a retirement lifestyle. And be sure to pay attention to how working with the right financial advisor can help you achieve financial independence earlier (data suggests up to three years earlier) by measuring and modeling your current spending and retirement goals more appropriately.

Here’s some of what we discuss in this episode:

• Why is there a disconnect between retirement expectations and more positive outcomes?
• More people depend on Social Security for their retirement income than they expected to.
• The disconnect in spending when people get into retirement.
• A good advisor can help clients gain confidence and overcome their healthy sense of doubt.

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

Check out the Social Security episode referenced in this show: https://www.truewealthdesign.com/social-security-timing-reframing-your-thinking-for-better-decision-making/

Over the last few years, significant changes have been made to how retirement accounts are managed after death, especially with new RMD rules. In July, the IRS issued its new Final Regulations regarding the SECURE Act’s provisions.

In this episode, hear Tyler Emrick, CFA®, CFP®, break down the key provisions, including the 10-Year Rule for beneficiaries and updates to RMD timelines, and how these changes impact your retirement and estate planning.

Here’s some of what we discuss in this episode:

• What the SECURE Act changed when it passed in 2019 and what’s been updated since?
• Which accounts are impacted by this and how does it impact taxes and estate planning?
• Who are designated beneficiaries and what are the differences between eligible and non-eligible?
• The 10-year rule for inheriting these accounts and what you need to know.
• The new RMD rules that will begin in 2025.
• Additional rules dealing with the surviving spouse, successor beneficiaries, and RMD ages.

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

Here’s some of what we discuss in this episode:

• Background on The Retirement Manifesto Blog and the blog post we’re discussing.
• The complexity of non-financial issues and why these lead to our true happiness.
• Your retirement will be different than you expect.
• Retirees find that their priorities change as they move through retirement.
• Retirement can be the best years of your life but it’s up to you.

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

Here’s some of what we discuss in this episode:

• The rapid growth we’ve seen in Buffer ETFs.
• Defining and explaining the Bufffer ETF or Defined Outcome ETF.
• Why are investors using these and what are the benefits compared to structured notes and annuities?
• What you need to know that they aren’t telling you.
• Our overall feelings on this investment and whether they work in a long-term portfolio.

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

In this episode, hear Tyler Emrick, CFA®, CFP®, discuss why meticulous budgeting isn’t necessary for most people approaching retirement. Discover how understanding your lifestyle spending and anticipating future changes can lead to more effective financial planning.

Learn about the "Retirement Spending Smile" concept and why focusing on your lifestyle expenses is more beneficial than a line-by-line budget. Plus, we’ll explore how your financial advisor should be helping you monitor spending against your goals.

Here’s some of what we discuss in this episode:

• The common perception of budgeting and why a detailed budget might not be necessary.
• What areas of your expenses should you be focused on?
• The importance of identifying and understanding the spending associated with your lifestyle.
• Anticipating how your lifestyle will change in retirement and how that will impact expenses.

Check out our interview with retirement researcher Dr. David Blanchett:

Part 1 - https://www.truewealthdesign.com/ep-101-interview-with-retirement-researcher-dr-david-blanchett-part-1/

Part 2 - https://www.truewealthdesign.com/ep-102-interview-with-retirement-researcher-dr-david-blanchett-part-2/

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

It's almost Election Day in the US, and opinions are flying. But should elections sway your long-term investment strategy?

Find out in this episode as Tyler Emrick, CFA®, CFP®, cuts through the political noise exploring historical market performance in past election years and Presidential terms. Sharing how you can use this data to set your emotions aside and make more informed investment decisions.

Here’s some of what we discuss in this episode:

• Elections provide a great degree of uncertainty, which can cause emotional and usually illogical behavior.
• What market returns have looked like for election years dating back to 1928.
• The market’s performance the month that the election took place.
• A look at the annualized returns during US Presidential terms.
• What can YOU control?

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

Our brain uses mental shortcuts to help us solve problems. While they can be quite helpful, in some areas they may harm our decision-making. Social Security claiming is often one of these negatively impacted areas.

In this episode, hear Tyler Emrick, CFA®, CFP®, discuss the mental shortcuts (aka cognitive biases) at play when deciding to take your Social Security benefits. Being cognizant and acting with a more prudent decision-making process will likely help you realize a better outcome and improved retirement.

Here’s some of what we discuss in this episode:

• Optimism and pessimism bias can skew our judgments when making decisions.
• Present bias and temporal discounting. In the context of Social Security, this means favoring smaller payments now over larger payments later, a decision that can significantly impact long-term financial health.
• The anchoring effect is another critical bias discussed. This occurs when individuals rely too heavily on the first piece of information they encounter—such as the earliest age they can claim Social Security—making it challenging to adjust their plans with new information.
• Tyler explains the concept of delayed retirement credits and how Social Security benefits are designed to be actuarially equivalent, regardless of when you start claiming them.
• How Social Security is uniquely impacted by inflation and interest rates.

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

Estate planning is about more than just wealth distribution—it’s about peace of mind.

In this episode, Hear Tyler Emrick, CFA®, CFP®, cover the fundamentals to start or update your estate planning journey. We’ll discuss how your financial advisor is best to guide the process while your attorney ensures legal alignment. Working together makes the journey better for you and more likely at your intended destination while reducing risks of unnecessary taxes, legal costs, and family conflicts.

Here’s some of what we discuss in this episode:

• A story about how a lack of estate planning could derail everything you hoped to leave your loved ones.
• What we need to begin crafting the financial aspects of your estate plan.
• The role your advisor plays versus what the attorney will do.
• Tax considerations you need to be aware of so that you can ensure more wealth is passed along.
• The many benefits to estate planning.

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth