Ep #7: Are You Prepared in Case These Retirement Portfolio Disasters Strikes?

You’ve been planning for retirement by saving and investing for years but how prepared are you for negative events? Portfolio disaster could strike at any time and you need to have a plan in place to deal with it. We’ll run through the most likely scenarios and what you should do to stay retirement ready.

Click here to see the full show notes.

Today's rundown:

1:57 – News headline reaction: Will the financial advisor role become unnecessary with the advent of automation?

4:30 – Getting to know Phil: What’s the most danger you ever put yourself into?

6:01 – Mailbag question: I’m retiring early from my state job. Do I need to find a new job since I’m too young for Social Security or my IRA?

7:36 – Main topic on portfolio disasters begins.

8:37 – Scenario 1: Your spouse passes away early and you never took part in financial planning. Now you’re left figuring it out.

10:09 – Scenario 2: The market crashes and you didn’t have a plan in place.

12:46 – Scenario 3: The family legacy that gets wiped out by a long-term care expense.

15:06 – Mailbag question: I’ve always handled my retirement planning with no help, but are there any items that I might be missing?