Ep #8: Financial Planning With a Sense of Urgency

No matter how well you plan, there are times in your life where things shaken up and force you to change course. All of a sudden you shift to planning with a sense of urgency. On this episode, we’ll discuss some of those scenarios and how you can prepare yourself.

Today's rundown:

1:51 – In the News: The SECURE Act could affect your retirement.

3:56 – Could changes coming to the RMD age signal changes in Social Security?

5:57 – Getting to Know Phil: What’s your greatest accomplishment in life?

7:14 – Moving to our main topic of planning with a sense of urgency.

8:05 – Scenario: The loss of a job.  

10:10 – Scenario: Your retirement date begins closing in on you.

13:07 – Scenario: The death of a spouse.

14:58 – Scenario: The market drops significantly.

17:26 – Email Question: I’ve always told I’d be in a lower tax bracket when I retire so I should be putting as much money as possible in my 401(k). Now I’m retired and I am not in a lower tax bracket and I’m being taxed quite a bit. What went wrong?

Get the full show notes and additional resources by clicking here.