Q&A: "I'm Scared of Running Out of Money in Retirement!"
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- Опубликовано: 29 сен 2024
- Sara is five years from retirement with a paid-off house. But she’s worried that her money will run out before she turns 80. What does she need to do now to protect her future self?
Lauren is a personal finance nerd who gets it. But one question perplexes her: When should she should choose an ETF over an index mutual fund? What about vice versa? Paula and Joe explain.
An anonymous caller plans to sell her house and live a “slow-madic” lifestyle. But she’s on disability and needs to keep her money safe. How should she invest her $500,000 windfall?
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!
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I think she is too poor to save the house for her adult children’s retirement. Let them fend for themselves, downsize or sell + geo arbitrage and enjoy a decent retirement. At the very least, the remodel should be covered by kids, not herself if she does decide to give the house to them.
working remotely is great IF you have the skills - not everyone is employed in a profession that lends itself to remote work.
A 5 bucket strategy is crazy. A three bucket it too much. You should never have more than a 2 bucket strategy and 100% stocks is the best strategy in the long run. A 5 bucket strategy will leave way too much money on the table in the long run. If you can stand the market swings, then having 1 bucket that is 100% stocks will almost always give you the best return!!!
It’s always a great to run out of money. Planning and reviews with financial advisors as well as software tools have helped us build confidence.
She has to live out of her home for 6 months out of the year if she wants to avoid major tax penalty when she sells. Why would she rent it to move to Ecuador?
I swear some of this advice is just ridiculous. Not thought through.