5 Keys to Retirement Success
In this webinar retirement planning expert Dana Anspach will be joined by award-winning blogger Fritz Gilbert, author of The Retirement Manifesto blog and the book Keys to a Successful Retirement; Staying Happy, Active and Productive in Your Retired Years.
They’ll be discussing what research has to say about the happiest retirees, and how you can become one of them. Discussions will encompass not only the financial side of retirement but the importance of discovering activities that will provide social connections, and purpose. In his blog, Fritz openly discusses his own retirement journey, and he’ll share how he approached it and what he has learned.
We’ll be breaking the discussion into five specific keys to retirement success. What are those keys? Join us to find out!
We’ll also host a live question and answer session at the end!
Date
Thursday, March 28th, 2024
Time
5 pm AZ/6 pm Mountain/7 pm Central/8 pm Eastern
Registration Required
Register online by clicking on: 5 Keys to Retirement Success
Who Should Attend
This webinar will be valuable for anyone within ten years of their desired retirement date or those who have recently retired.
Your Presenter
Dana Anspach is the author of the recently released How to Plan the Perfect Retirement lecture series on The Great Courses (now Wondrium), Control Your Retirement Destiny (now in its second edition), and Social Security Sense. From 2018 to 2022, Investopedia Investopedia included Dana as one of the Top 100 Most Influential Advisors for her ongoing contributions to financial literacy. Dana is the founder and CEO of Sensible Money, a firm that ranked on the 2022 Inc. 5000 list of fastest-growing privately owned companies in America. Dana is also a CFP®, RMA®, and Kolbe Certified Consultant who began her financial planning career in 1995.
Recorded Retirement Classes on YouTube
Several of our prior online retirement workshops are available to watch on YouTube. Below you’ll find information and links to many of our recent classes.
How to Plan for Health Care Costs in Retirement
Recorded September 28, 2023
One of the biggest expenses you face in retirement is the cost of health care.
To plan for it you must understand the three primary phases of health care in retirement; the early phase for those who retire pre-age 65, the Medicare phase which begins at 65 and extends through life, and the later-life phase when long-term care expenses are likely to arise. We’ll be covering all this and more in this class.
• Retiring pre-age 65 – covering the gap
• Post-age 65 – Medicare and Part B & D
• LTC & Medicaid
Watch it on YouTube at: How to Plan for Health Care Costs in Retirement
How to Turn Investments into a Retirement Paycheck
While you are working and saving, you accumulate a collection of accounts, such as IRAs, 401(k)s savings and annuity accounts, and other workplace investments including stock options and deferred compensation plans. You may own stocks, bonds, mutual funds, annuities, CDs, iBonds, and more.
When you retire, how do you align all of these things to work together to create a reliable retirement paycheck? What do you sell first? Which account should you draw from in which years?
In this webinar, we’ll show you how we answer these questions and align portfolios for the purpose of withdrawing regular cash flow to live on in your retirement years.
We’ll cover:
- The one factor that has the most impact on investing success in retirement
- How to decide which accounts to draw from
- How you determine what to sell and when to sell it
- What taxes to watch out for
Your class instructor, Dana Anspach, will illustrate taxes with real life examples. We look forward showing you ways to plan ahead for taxes and potentially reduce your tax liability.
Watch it on YouTube here: How to Turn Investments into a Retirement Paycheck
How to Plan for Taxes in Retirement
Recorded March 30, 2023
Taxes don’t go away in retirement. You’ll need to make quarterly payments or set up automatic withholdings from retirement account distributions. How much should you withhold and how will it change throughout your retirement? In this free webinar, we’ll show you how the tax code applies to retirees. We’ll also cover strategies that can reduce your lifetime tax liability.
This webinar covers:
- While you are still contributing to savings
- When you are taking withdrawals
- How you allocate and rebalance your investments
Watch it on YouTube here: How to Plan for Taxes in Retirement
How to Make a Retirement Income Plan
Recorded January 26, 2023
How much will you need to retire, and where will it come from?In this class, you will learn how make a detailed retirement income plan by creating a series of timelines that chart out your future income and expense. You will see how you can put together a crystal-clear picture of your future retirement income.
this class covers:
- How to make a retirement budget and the most commonly overlooked expenses
- What a future income timeline looks like
- How to calculate how much you will need to withdraw each year during retirement
- Mistakes people make with their assumptions about inflation and rates of return
- How to see if your retirement money will last
Watch it on YouTube here: How to Make a Retirement Income Plan
The Three Phases of Retirement
Recorded October 13, 2022
The three phases of retirement, early, mid and late, are often called the go-go years, slow-go years, and no-go years.
During the go-go years, spending can be higher as new retirees explore new places and activities, visit family and friends, relocate, remodel or buy a second seasonal home.
As folks mature into their mid-70s, they tend to slow down. They find they are more content staying home, subsequently spending on travel, entertainment, eating out, and shopping for clothing and home décor tapers.
In their mid-to-late 80s, medical conditions may occupy more of a retiree’s time and budget. Spending is diverted from previous travel and entertainment activities to services such as cleaning, handyman repairs, meal prep, transportation assistance, and increased out-of-pocket health care expenses.
Learn how lifestyle and spending needs change during these phases and how you can adjust your retirement income plan accordingly.
You can find it at: The Three Phases of Retirement
How to Recession Proof Your Retirement
Recorded August 4, 2022
Are we about to enter a recession? Should you delay your retirement? How do you manage your investments during recessions once you are retired? In this webinar, we’ll look at investment strategies that can help create a reliable retirement paycheck even during recessions and market downturns.
In this webinar, you’ll learn:
- Strategies to adjust spending
- Ways to manage market volatility
- How to use buffer assets during market downturns
You’ll also see a range of potential outcomes the future may deliver and how past bear markets and recessions impacted retirees. We’ll also cover the impact of inflation and look at high-inflationary periods such as the 80s. You can find it at: How to Recession Proof Your Retirement
How to Build a Retirement Spending Plan
Recorded June 16, 2022
How much you’ll need in retirement depends on how much you’ll spend. But so much changes as you enter retirement; health coverage, taxes, and sometimes you have a mortgage now but know it will be paid off five to ten years after retirement.
Maybe you’ll move. Maybe your kids will be self-sufficient by then. And certainly, you’ll have home repairs and future auto purchases.
In this webinar, we’ll show you how to project these changing variables and layout a spending path.
We’ll be discussing
- Why the rules of thumb on retirement spending don’t work
- Things people forget about when making a retirement budget
- How to account for health care expenses
- The impact of inflation on your retirement spending
- How taxes vary depending on the nature of your savings
Watch it on YouTube at: How to Build a Retirement Spending Plan
How to Make an Investment Plan
Recorded May 20, 2021
What investments should you buy? When should you buy them? How long do you hold them? Is it foolish to own bonds right now? What about crypto, is it a fad or the next big thing?
In this webinar, we provide you with a framework to help you answer these questions and develop an investment plan that fits your goals, time horizon, and future cash flow needs.
This webinar covers:
- Key components to an investment plan
- The impact of taxes
- When to buy and sell
- What do do when the media says “Bonds/Stocks/Real Estate/Gold/Crypto are/ are not the place to be these days.”
- How investment plans should vary based on your goals
Watch it here on YouTube: How to Make an Investment Plan
Don’t Cheat Yourself With the 4% Rule
Recorded March 12, 2021
Many retirees and advisors gravitate to simple rules of thumb, like the 4% rule, which says you can safely withdraw 4% of your portfolio each year, increase that withdrawal with inflation, and expect to have your income last for life.
Do such rules work?
Certainly, they’re useful when you’re age 40 and planning for retirement 20 to 30 years away. But as you get closer to retirement, these rules can work against you.
This class will show you what to watch out for, and provide four practical tips on how to account for taxes, inflation, market returns, and Social Security when you project your retirement income plan.
Watch it on YouTube at: Don’t Cheat Yourself With the 4% Rule.
Planning for Disruptions
Recorded May 25, 2020
What do you do when life doesn’t go the way you planned? Maybe an adult child gets laid off and you want to help. Or you find yourself suddenly unemployed. This isn’t what you thought would happen. How do you adjust? Where do you get cash to get you through?
In this webinar, you’ll learn how to navigate your way through the practical aspect of raising cash such as withdrawing from IRAs and using home equity, and we’ll also be covering the emotional side of dealing with disruptions and planning for a fantastic future.
Watch it on YouTube at: Planning for Disruptions.
Retirement Planning Expertise and Credentials
As an expert in retirement planning, I have extensive knowledge and experience in the field. I have a deep understanding of retirement income planning, investment strategies, tax implications, and the various phases of retirement. My expertise is demonstrated through my ability to provide comprehensive guidance on retirement success, drawing from firsthand experience and a thorough understanding of the key components that contribute to a fulfilling retirement.
Key Concepts in Retirement Planning
1. Retirement Success Keys
The five specific keys to retirement success are essential for individuals within ten years of their desired retirement date or those who have recently retired. These keys encompass not only the financial aspects of retirement but also the importance of discovering activities that provide social connections and purpose. The discussion will be led by retirement planning expert Dana Anspach and award-winning blogger Fritz Gilbert, who openly shares his own retirement journey and learnings [[1]].
2. Health Care Costs in Retirement
Understanding the three primary phases of health care in retirement, including the early phase for those who retire pre-age 65, the Medicare phase beginning at 65, and the later-life phase when long-term care expenses are likely to arise, is crucial for effective retirement planning. This includes planning for health care costs, covering the gap for retiring pre-age 65, Medicare and Part B & D post-age 65, and long-term care and Medicaid [[2]].
3. Turning Investments into a Retirement Paycheck
Aligning various retirement accounts and investments to create a reliable retirement paycheck is a critical aspect of retirement planning. This involves understanding which accounts to draw from, what to sell first, and how to manage taxes to potentially reduce tax liability [[3]].
4. Taxes in Retirement
The impact of taxes on retirees and strategies to reduce lifetime tax liability are important considerations in retirement planning. This includes understanding the tax code as it applies to retirees, making quarterly payments or setting up automatic withholdings from retirement account distributions, and allocating and rebalancing investments [[4]].
5. Retirement Income Planning
Creating a detailed retirement income plan by charting out future income and expenses is essential for effective retirement planning. This involves making a retirement budget, understanding future income timelines, calculating annual withdrawal needs, and avoiding common mistakes in assumptions about inflation and rates of return [[5]].
6. Phases of Retirement
Understanding the three phases of retirement – early, mid, and late – and how lifestyle and spending needs change during these phases is crucial for adjusting retirement income plans accordingly. This includes recognizing changes in spending patterns, adjusting retirement income plans, and aligning financial strategies with the evolving needs of each phase [[6]].
7. Recession-Proofing Retirement
Strategies to manage investments during recessions and market downturns, including adjusting spending, managing market volatility, and using buffer assets, are important for creating a reliable retirement paycheck even during challenging economic times [[7]].
8. Retirement Spending Plan
Projecting changing variables and laying out a spending path for retirement, including accounting for health care expenses, the impact of inflation, and varying taxes based on the nature of savings, is essential for developing a comprehensive retirement spending plan [[8]].
9. Investment Planning
Developing an investment plan that aligns with individual goals, time horizon, and future cash flow needs is crucial for successful retirement planning. This includes understanding key components of an investment plan, the impact of taxes, and varying investment plans based on specific goals [[9]].
10. Challenges to Traditional Retirement Rules
Evaluating traditional retirement rules, such as the 4% rule, and understanding practical tips on accounting for taxes, inflation, market returns, and Social Security when projecting retirement income plans is important for avoiding potential pitfalls in retirement planning [[10]].
11. Planning for Disruptions
Navigating practical and emotional aspects of dealing with disruptions in retirement planning, including raising cash, withdrawing from IRAs, using home equity, and adjusting to unexpected life events, is crucial for creating a resilient retirement plan [[11]].
By understanding and incorporating these key concepts into retirement planning, individuals can enhance their prospects for a successful and fulfilling retirement.
