The Income For Life Show

Retirement planning doesn’t have to be overwhelmingly complicated. It certainly doesn’t have to be as complicated as some people make it. In our next episode, we unravel the unnecessary complexities often woven into the fabric of retirement advice. We’ll debunk some myths, simplify strategies, and uncover the beauty of simplicity and straightforward retirement planning. As usual, we’ll tackle some fun getting-to-know-you questions at the beginning of today’s show. Then, we share two quotes of the week from Denis Waitley and Paul Samuelson. We’ll also take a look at a recent Kiplinger article that weighs the pros and cons of claiming Social Security at age 70. For this week’s mailbag, we got a great question from Hazel of Salt Lake City. She’s considering retiring from her nursing job in the next 3 months and asks for a financial checklist of priorities she should consider before taking the leap. For this week’s Retirement Ride Along segment, you’ll hear about our recent trip to Chicago! Here’s some of what we discuss in this episode: Life updates + a busy season ahead (2:31)Get-to-know-you questions: Least favorite jobs, best ice cream toppings, first jobs (6:32)Quote of the week from Denis Waitley and Paul Samuelson (21:07)Kiplinger Article: Waiting Until 70 to Claim Social Security (23:01)Main topic: The Beauty Of Simplicity When Planning For Retirement (31:51)Mailbag: What financial priorities should I consider before putting in my notice at work and retiring? (45:47)Retirement Ride Along: Celebrating Sam’s birthday in Chicago (52:20) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today’s Show: Kiplinger Article https://www.kiplinger.com/retirement/waiting-until-70-to-claim-social-security-pros-and-cons Trump Hotel Chicago https://www.trumphotels.com/chicago Terrace 16 https://www.trumphotels.com/chicago/dining/fine-dining-chicago Willis Tower https://www.willistower.com/ Gino’s East https://www.ginoseast.com/ Navy Pier https://navypier.org/ Offshore Rooftop https://www.offshorerooftop.com/ Chicago Cubs Wrigley Field https://www.mlb.com/cubs/ballpark Instagram of Driver/Comedian, Ruslan: @ruslan.hafiz Prime Provisions https://www.primeandprovisions.com/ Blue Chicago https://www.bluechicago.com/ Yolk https://eatyolk.com/ Museum of Science + Industry https://www.msichicago.org/

Many of us are familiar with how a water wheel works. A constant stream of running water keeps the wheel turning so it can do the work it’s supposed to accomplish (whether turning millstones to grind grain in the 19th century or turning turbines to create hydroelectricity in today’s world). If the stream of water stops running, the wheel stops turning. So, how does a water wheel relate to retirement planning? We’ll tell you how in today’s episode. As always, we’ll kick off the show with some getting-to-know-Matt and Sam questions and share some great quotes of the week relating to retirement planning. This week, we’ll also discuss one of our retirement manual series, The Retirement Playbook: Lessons From The Retirement All-Stars. For this week’s mailbag question, Lenny from Omaha asks whether it would be advisable to withdraw approximately $90,000 from his IRA to purchase a townhouse for rental income. For this week’s Retirement Ride Along segment, Matt and Sam talk about their recent trip to Parkville, Missouri. Here’s some of what we discuss in this episode: Get-to-know-you questions: The best thing about being an adult, closet doors, and more. (5:06)Quote of the week from Ben Franklin and Jim Rohn (22:48)Lessons From the Retirement All-Stars (24:37)Main topic: Understanding Retirement Through the Water Wheel (30:20)Mailbag: “Would it be a bad idea to withdraw approximately $90,000 from my IRA to purchase a townhouse for rental income?” (43:10)Retirement Ride Along: An afternoon in the beautiful Parkville, Missouri (52:28) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today’s Show: The National Golf Club: https://www.invitedclubs.com/clubs/the-national-golf-club The Craic: https://craiconmain.com/

March Madness is upon us, and as you’re keeping an eye on your bracket and watching the Final Four this weekend, there are a few retirement planning lessons that you can learn along the way… Stay tuned as we take some March Madness terms any apply them to the financial planning world in today’s show. As usual, we have some fun getting-to-know-you questions lined up for you. Then, we have a fantastic quote of the week to share by Ken Poirot. We’ll also spend some time looking at a MarketWatch article about the increasing retirement savings target in the United States. For this week’s mailbag question, Darrell from San Antonio asks if it would be better to keep working and receive a pension or retire now with a severance package and pension buyout. For this week’s Retirement Ride Along segment, we’re sharing some of our favorite spots in Copeland, Kansas. Here’s some of what we discuss in this episode: Get-to-know-you questions: Getting ready in the morning, unusual foods, fashion trends (7:31)Quote of the week from Ken Poirot (24:28)MarketWatch Article: How Much Will You Need To Retire? America’s Magic Number Surges to $1.46 Million (25:30)Main topic: Retirement Bracketology (35:45)Mailbag: Should I keep working 5-6 years and receive a pension or retire now and accept a severance package and pension buyout? (46:08)Retirement Ride Along: Going back to Matt’s hometown (51:44) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today’s Show: MarketWatch Article: https://www.marketwatch.com/amp/story/how-much-will-you-need-to-retire-americas-magic-number-surges-to-1-46-million-cbbfe7f4 The sister’s boutique https://www.facebook.com/groups/thesistersboutique143/ Copeland Café https://www.facebook.com/profile.php?id=100057264107213 Goodtimes Grill https://www.facebook.com/p/Goodtimes-Grill-100057637951397/

Are you planning for your retirement with the confidence that you're making all the right moves? In today's episode, we'll unveil the crucial income planning mistakes that could jeopardize your retirement and show you how to craft a financial plan that's built to last decades, not just years. Tune in to ensure your retirement strategy is foolproof against common pitfalls and ready to secure your financial future. After a brief hiatus due to Matt being sick, we are excited to be back! We’ll kick off this episode with some excellent getting-to-know-you questions before jumping into our quotes of the week. For this week’s mailbag question, Annie asks whether it's better to take an extra $20,000 out of her IRA or to take out a home equity loan to cover the cost of putting in a screened-in porch. For this week’s Retirement Ride Along segment, we chat about our recent trip to Sonoma and Napa Valley in California. Here’s some of what we discuss in this episode: Catching up after a brief hiatus (1:36) Get-to-know-you questions: Watching movies, favorite Halloween costume, favorite grade in school (13:02)Quote of the week: Proverbs and Abraham Lincoln (27:36)Main topic: Top 5 income planning mistakes that could jeopardize your retirement (29:04)Mailbag: “I want to put in a screened-in porch, but the only way I could pay for it would either be taking an extra 20,000 out of my IRA this year or taking out a home equity loan to cover it. Which is better?” (41:22)Retirement Ride Along: Visting the wine country of America (47:06) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today’s Show: Fairmont Sonoma Mission Inn & Spa https://www.fairmont.com/sonoma/ Highway 12 Vineyards and Winery https://www.highway12winery.com/ Zina Hyde Cunningham https://www.zinawinery.com/ Viansa https://www.viansa.com/ Benziger Family Winery https://www.benziger.com/ The Donum Estate https://www.thedonumestate.com/ Ram’s Gate Winery https://ramsgatewinery.com/ El Dorado Hotel & Kitchen https://eldoradosonoma.com/ Tammy the Private Driver Email: tammyleonis@gmail.com Vineyard 29 https://vineyard29.com/ Vineyard Seven and Eight https://www.vineyard7and8.com/ Folklore https://folklore-napa.com/ Vermeil Wines https://www.vermeilwines.com/ Blue Note Jazz https://www.bluenotejazz.com/napa/ Demola the Violinist https://www.demolatheviolinist.com/ LaToque https://latoque.com/ Promontory https://www.promontory.wine/

Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning. Let’s talk about why on today’s episode. We have three fun getting-to-know-you questions to kick off this week’s show before sharing our quotes of the week. For this week’s mailbag question, Rose from Michigan asks how to stop getting stuck in a cycle of indecision when it comes to financial planning. For this week’s Retirement Ride Along segment, we share more about our trip to Rochester, Minnesota over Christmas. Here’s some of what we discuss in this episode: Get-to-know-you questions: Products we can’t live without, favorite snack at the movies, fictional characters (3:57)Quote of the week from Ken Poirot (15:34)Main topic: Retirement planning is harder than it used to be (19:17)Mailbag: “Every time I need to make a financial decision, I just end up talking myself in circles. How do I stop talking in a circle and never making a decision?” (37:29)Retirement Ride Along: A Christmas trip to Rochester, Minnesota (43:41) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today’s Show: Hotel Fort Des Moines https://www.hotelfortdesmoines.com/ Hilton Rochester Mayo Clinic Area https://www.hilton.com/en/hotels/rstmahh-hilton-rochester-mayo-clinic-area/ Sugar Factory Express https://www.mallofamerica.com/directory/sugar-factory-express FlyOver America https://www.mallofamerica.com/directory/flyover-america Hollandberry Pannekoeken https://www.hollandberrypannekoeken.com/

Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit when you should really consider the delayed rewards… We’re excited to be back with you as we kick off the 2024 season of the podcast! As usual, we’ll answer some fun getting-to-know-you questions and share a few great quotes to start the show. Along with our discussion on delayed gratification in financial planning, we’ll also take a look at an interesting article from Barron’s, titled, “Americans’ Retirement Thinking Is Stuck In The Past.” For this week’s mailbag question, Howard from Vermont asks if he should start taking Social Security earlier than planned because of an unexpected health diagnosis. For this week’s Retirement Ride Along segment, we’ll talk about the trip to New York that Matt surprised Sam with for New Year’s Eve. Here’s some of what we discuss in this episode: Reflecting on the last few months and traveling over the holidays (4:24)Get-to-know-you questions: Small things, time travel, favorite ages, and more! (7:45)Quotes of the week from John Jacob Astor and Chris Brogan (21:35)Barron Article: “Americans’ Retirement Thinking Is Stuck In The Past. How To Fix It.” (23:20)Main topic: The Power of Delayed Gratification (34:34)Mailbag: “I just received a medical diagnosis that will almost certainly shorten my life. I had planned to wait until 70 to start taking Social Security, but now I think I should start it now. Do you agree?” (49:40)Retirement Ride Along: A surprise trip to New York for New Year’s Eve (54:38) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today’s Show: Barron’s Article https://www.barrons.com/articles/retirement-savings-social-security-pensions-cd9d916d Robert NYC https://robertnyc.com/ Superfine Restaurant https://www.superfine.nyc/ Sparks Steak House https://sparkssteakhouse.com/ Blue Note New York https://www.bluenotejazz.com/nyc/

“Learn from the mistakes of others. You can’t live long enough to make them all yourself.” – Eleanor Roosevelt... Ever wish you could foresee financial missteps before they happen? In today’s episode, explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you. We kick off this episode with some fun getting to know you questions. Then, we’ll share a great quote of the week by Jim Rohn. We also dive into a fantastic MarketWatch article about the current Social Security crisis. For this week’s mailbag question, Jennifer from Scottsdale, Arizona asks if it’s a good idea to invest the leftover cash from a home sale and take on a new mortgage. For this week’s Retirement Ride Along segment, Matt and Sam talk about their six-day trip to Las Vegas. Here’s some of what we discuss in this episode: Christmas shopping and a $13 coffee (9:45)Get-to-know-you questions: Gardening, weird places to sleep, hitting snooze (15:58)Quote of the week from Jim Rohn (23:20)MarketWatch Article: The Social Security crisis is a bipartisan outrage — and it’s way worse than Lehman Brothers (24:10)Money mistakes you’ll regret and how to avoid them (39:17)Mailbag: "We're planning to downsize within the next year. When interest rates were lower, we were thinking of getting a mortgage and investing the leftover cash from our current home. Is that strategy no longer recommended?" (50:58)Retirement Ride Along: Matt and Sam’s six-day trip to Vegas (56:51) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Links From Today’s Show: MarketWatch Article https://www.marketwatch.com/story/the-social-security-crisis-is-a-bipartisan-outrage-and-its-way-worse-than-lehman-brothers-e18ee73e#:~:text=This%20is%20a%20massive%2C%20bipartisan,avoided%2C%20and%20should%20have%20been. TAO Asian Bistro https://taogroup.com/venues/tao-asian-bistro-las-vegas/ CUT by Wolfgang Puck https://wolfgangpuck.com/restaurants/cut-las-vegas/ Delmonico Steakhouse https://emerilsrestaurants.com/delmonico-steakhouse/ Prime Las Vegas https://bellagio.mgmresorts.com/en/restaurants/prime-steakhouse.html Adrenaline Mountain https://www.adrenalinemountain.com/ The X Pot https://thexpot.com/ Sphere https://www.thespherevegas.com/

We’re so glad to be back after a brief break. We’ll fill you in on where we’ve been and much more in today’s show. If you’re ready for an adventure, today’s episode is for you! Listen in as we compare retirement planning to climbing a mountain. We talk about preparing wisely, tackling the ups and downs, and even planning your way back down. We've also put together the ultimate retirement planning playlist for you- featuring timeless lyrics that reflect various stages of the planning journey. From setting financial goals to finding purpose in your golden years, this playlist sets the stage for important discussions about crafting your dream retirement. As always, we’ll kick off the episode with some getting to know you questions before sharing a great quote of the week. For this week’s mailbag question, Meredith from Kearney, Nebraska asks if it’s normal for advisors to be vague about their plans for managing one’s money until they have all the necessary financial information. For this week’s Retirement Ride Along segment, we’ll chat about our recent trip to New York City. Here’s some of what we discuss in this episode: Where we’ve been the last month (5:00)Get-to-know-you questions: The funniest person you know, becoming magically famous, and more (13:08)Quote of the week from Ben Franklin (29:15)How to successfully climb the retirement planning mountain (35:48)The ultimate retirement planning mixtape (46:28)Mailbag: “I've interviewed a few different financial advisors, and they're all very cryptic about what they're actually going to do with my money. Is this normal? (1:00:06)Retirement Ride Along: Matt and Sam’s recent trip to New York City (1:06:48) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today’s Show: Trump Hotel: https://www.trumphotels.com/ Daniel: https://www.danielnyc.com/ Birdland Jazz Club: https://www.birdlandjazz.com/ One If By Land Two If By Sea: https://oneifbyland.com/

Retirement is a unique journey for each of us. The thought that there's a one-size-fits-all solution is a myth, but what if we told you there are certain universal truths that can guide every retiree? Dive deep in this episode, where we juxtapose the individuality of retirement plans with the foundational principles that remain consistent across the board. We are excited to be joined by Chris Lester, ChFC®, RICP®, CCPS®, NSSA, CLTC®, president of Professional Planning Services in New Jersey. He has over 30 years of experience in the financial industry and we want to learn more about what he likes to provide to his clients on helping them stay retired. Chris will also take part in the Getting to Know questions, sound off on our quotes of the week, weigh in on the universal truths and answer some questions with us. For this week’s mailbag question, Grace from Tempe asks about the options for helping contribute to a college fund for grandchildren. For this week’s Retirement Ride Along segment, Chris will share some of the great things New Jersey has to offer retirees. Here's what we'll discuss on today's show: Chris shares his financial background and what they focus on at Professional Planning Services. (4:54) Get-to-know-you questions: Getting ready in the morning, favorite family recipe, and 3 items for a deserted island. (8:39) Quotes of the week from Zig Ziglar and an unknown source. (27:43) MarketWatch Article: What climate change? The top 5 retirement cities all have hot weather (33:03) The 5 Universal Retirement Truths (44:08) Mailbag: I’d like to start putting money into a college fund for my grandkids. Should I set up a 529 plan for them or just invest on my own and give them the money when they go to school?(1:10:30) Retirement Ride Along: Exploring New Jersey and what it has to offers for retirees. (1:15:37) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Get in touch with Chris! Email: chris@professionalplanningservices.com 732.302.1810 https://professionalplanningservices.com/ Links From Today's Show: MarketWatch Article: https://www.marketwatch.com/story/the-best-city-for-retirement-offers-bingo-fishing-and-low-crime-rate-33dd8a9d Von Thun Farms: https://vonthunfarms.com/ Holland Ridge Farms: https://www.hollandridgefarms.com/

In the complex world of retirement planning, there are countless pitfalls one could fall into. In this episode, we've distilled it down to what we believe are the top 5 mistakes to watch out for. Avoiding these crucial missteps can have a significant impact on the success of your retirement plan. Join us as we delve into these key issues and learn how to navigate them effectively when it's your turn to plan for retirement. We are excited to be joined by Chad Castle, RICP®, and Jessica Burch, MBA, co-founders of Winnow Wealth, for this week’s episode. We ask them some get-to-know-you questions before sharing a few quotes of the week from George Lorimer and R.C. Sherriff. We also discuss a MarketWatch article on the potentially stormy future of US stocks coming in September. For this week’s mailbag question, Gabe from Houston asks if he should start withdrawing from his 401k, IRA, Roth, or mutual fund first. For this week’s Retirement Ride Along segment, Chad and Jessica share some of their favorite spots in the Dallas, Waco, and Fort Worth area. Here's what we'll discuss on today's show: Get-to-know-you questions: Favorite phone apps, most beautiful place you’ve ever vistied, bingeable TV shows. (5:46) Chad and Jessica share more about their background and Winnow Wealth. (19:33) MarketWatch Article: A Stormy September For US Stocks May Lie Ahead… (41:29) 5 biggest money mistakes in retirement planning. (52:25) Mailbag: I have our retirement savings spread out between my 401k to IRAs, a Roth, and several mutual funds purchased with after-tax dollars. Which account should I start withdrawing from first? (1:21:47) Retirement Ride Along: Exploring Dallas, Waco, and Fort Worth with Jessica and Chad. (1:27:25) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Get in touch with Chad and Jessica! Email: Hello@winnowwealth https://calendly.com/chadcastle/income-for-life-15-minute-call?month=2023-08 https://winnowwealth.com/ Links From Today's Show: MarketWatch Article: https://www.marketwatch.com/story/what-history-says-about-stock-market-in-september-after-ai-driven-rally-screeches-to-a-halt-in-august-bfae8f62 Ol’ South Pancake House https://www.olsouthpancakehouse.com/ George’s Restaurant https://georgesrestaurant.com/ The Tower Club https://www.invitedclubs.com/clubs/tower-club-dallas The Lonesome Dove https://lonesomedovefortworth.com/

We’ve got a fun one for you today! Tune in as we expose some symptoms that might need a financial prescription. Whether you’re experiencing dizziness from the ups and downs of the stock market or high blood pressure from anger about bad financial advice, we’ll share how guaranteed income can make a difference in your financial plan. After that, we’ll extract some valuable financial lessons from the one and only, Mick Jagger. Matt and Sam start off with our regularly scheduled get-to-know-you questions before sharing two fun quotes for this week’s show. They then discuss a MarketWatch article about the rising cost of healthcare in the US. For this week’s mailbag question, Karen from Boston asks what Matt and Sam think about robo-advisors. For this week’s Retirement Ride Along segment, Matt and Sam are going back to their roots in Wichita, Kansas. Here's what we'll discuss on today's show: Get-to-know-you questions: How many shoes do you own? Are you related to anyone famous? And more! (5:35) MarketWatch Article: The Cost of Healthcare Is Out Of Control. (18:11) Financial Doctor: Ups and downs of the stock market, anxiety from the news, anger from bad financial advice, and more! (28:45) Main topic: Retirement planning with Mick Jagger. (42:27) Mailbag: “What’s your opinion on all the robo-advisor stuff?” (49:27) Retirement Ride Along: Going back to Wichita, Kansas. (55:40) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today's Show: MarketWatch Article: https://www.marketwatch.com/story/the-cost-of-healthcare-is-out-of-control-hurting-programs-for-the-elderly-and-the-vulnerable-a9568de6 The Ambassador Hotel https://www.ambassadorwichitaks.com/ Dockum Resturant https://www.dockum.com/ Lava and Tonic https://lavaandtonic.com/ Scotch and Sirlon https://www.scotchandsirloin.net/

Today we’re diving into the crucial role of income analysis in retirement planning. We'll uncover the secrets of guaranteed income versus the uncertain stuff and shed light on the consequences of retiring without a clear income plan. Don't worry if you're feeling lost - we've got your back with practical solutions and expert guidance. Tune in and take charge of your retirement cash flow! Matt and Sam kick off this episode with some fun get-to-know-you questions before sharing two great quotes this week from Ryan Kiyosaki and Frank Clark. Then, they take a look at a Kiplinger article that talks about building your financial house from the ground up. Matt and Sam will also reflect on the importance of having a clear picture of your retirement income during the planning process and introduce an upcoming podcast segment based on the new Income For Life Affiliate Program. For this week’s mailbag question, Vicki from Houston asks how to tell if a financial advisor is qualified or not. For this week’s Retirement Ride Along segment, Matt and Sam talk about the best place to eat steak in Kansas City. Here's what we'll discuss on today's show: Get-to-know-you questions: Favorite radio stations, last movie you went to see, what makes you laugh the most. (4:55) Kiplinger Article: How To Build Your Financial House From The Ground Up. (15:44) Main topic: What could happen if you don’t have a clear picture of your retirement income? (24:26) Main topic: Should you have income from a variety of sources? (26:19) Main topic: The paycheck vs. “playcheck” concept. (33:12) The Income For Life Affiliate Program. (36:56) Mailbag: "How can I tell if a financial advisor is qualified or not?" (41:11) Retirement Ride Along: The best place for steak in Kansas City. (50:05) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today's Show: Kiplinger Article: https://www.kiplinger.com/personal-finance/how-to-build-your-financial-house-from-the-foundation-up Stock Hill Steakhouse (Ask for Brett) https://www.stockhillkc.com/

In today’s episode, we’re tackling the concept of Financial Independence. While the American colonists fought for freedom from British rule, we’re here to discuss what you’re striving to be independent from in your retirement. We’ll unveil the common foes you’ll face on the journey. And good news, no muskets required for these battles! Matt and Sam kick off this episode with some fun get-to-know-you questions before sharing this week’s quote of the week by Keith Cunningham. Then, they’ll take a look at two articles that discuss the recent downgrade of the United States’ credit rating. Matt and Sam also share their thoughts on controlling greed, fear, and other emotions in retirement planning. For this week’s mailbag question, Sherry from Pittsburg asks if she should exit the market after narrowly avoiding recent drops. For this week’s Retirement Ride Along segment, Matt and Sam talk about their trip to Eureka Springs, Arkansas. Here's what we'll discuss on today's show: Get-to-know-you questions: Ideal date night, lessons learned during the pandemic, best place ever visited, and more. (7:59) MarketWatch Article: "The U.S. Has Downgraded. How Much Does It Matter To Markets?" (23:46) Controlling greed, fear, and other emotions in planning. (30:57) Main topic: Winning your financial independence from the government, your family, debt, and more. (40:42) Mailbag: “I almost got out of the market before it dropped down recently. Now I'm back to where I was before. Should I get out now?” (56:32) Retirement Ride Along: Exploring Eureka Springs, Arkansas. (1:00:08) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today's Show: Retirement Ride-Along Photos: https://www.facebook.com/WhereSafetyMatters/photos_albums MarketWatch Article: https://www.marketwatch.com/story/the-u-s-is-downgraded-how-much-does-it-matter-to-markets-and-the-surprise-asset-that-may-benefit-55edfa06 The Angel At Rose Hall https://www.the-angel.com/ Grotto Grill & Wine Cave https://www.grottoeureka.com/ Cat House Lounge https://cathouselounge.com/ Thorncrown Chapel https://thorncrown.com/ Cosmic Cavern https://www.cosmiccavern.com/

Are you nearing “retirement age?" If so, let’s explore that pivotal question you’ll soon face: Should you retire or continue working? We’ll unravel the intricacies of this decision, addressing both financial and emotional aspects, and help you find out if you’re truly ready to retire. Matt and Sam kick off this episode by discussing their favorite childhood TV shows, the best songs ever written, their first celebrity crushes, and more. Then, they jump into two interesting retirement articles. The first is a survey from CNBC, which suggests that Americans need $233,000 annually and nearly $1.3 million to feel comfortable in retirement. Matt and Sam share their thoughts on those numbers before diving into a MarketWatch article that discusses the challenges faced by solo agers in retirement. For this week’s mailbag question, Charlie from Tampa asks how much is too much to spend on travel in retirement. For this week’s Retirement Ride Along segment, Matt and Sam talk about some of their favorite spots for jazz and brunch in Kansas City. Here's what we'll discuss on today's show: Get-to-know-you questions: Favorite childhood TV show, best song ever written, winning a medal in the Olympics, first celebrity crush. (6:11) CNBC Article: “To Feel Comfortable, Americans Think They Need A $233,000 Annual Salary And Nearly $1.3 Million For Retirement.” (22:09) MarketWatch Article: "How To Thrive As A Solo Ager In Retirement." (27:01) Main topic: Should you retire or continue working? (33:05) Mailbag: “How much is a reasonable amount to spend on travel in retirement?” (42:20) Retirement Ride Along: Exploring Kansas City. (46:23) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today's Show: CNBC Article: https://www.cnbc.com/2023/07/24/americans-have-big-number-goals-for-salary-retirement.html MarketWatch Article: https://www.marketwatch.com/story/its-important-to-figure-out-who-you-can-count-on-how-to-thrive-as-a-solo-ager-in-retirement-51d295cf?mod=home-page The American Jaxx Museum: https://www.americanjazzmuseum.org/ The Phoenix: https://www.thephoenixkc.com/ Green Lady Lounge: https://greenladylounge.com/ Lonnie’s Reno Club: https://www.lonniesrenoclub.com/

Are you preparing for retirement but feeling confident that you have covered all the expenses? Well, think again... It turns out that many retirees overlook some crucial costs that can leave them financially vulnerable. In this episode, we explore the retirement expenses that most people tend to forget, including skyrocketing medical bills, unexpected travel costs, and taxes. We also look at the Northwestern Mutual 2023 Planning and Progress study, which asked participants how much they thought they’d need to retire, how long they thought they’d need to work before retirement and more. As usual, we’ll jumpstart this episode with some fun get-to-know-you questions. Then we’ll share a great quote of the week by Christopher Rice. For this week’s mailbag question, Laura from Omaha asks if her account is too small for her advisor to worry about. To wrap up this episode, Sam talks about her life-changing experience at Durrie Vision, where she recently got LASIK surgery. Here's what we'll discuss on today's show: Get-to-know-you questions: Sam and Matt’s last meal on earth, go-to karaoke songs, and more. (4:23) Main topic: Not planning for medical expenses in retirement. (18:29) Main topic: Parental or child expenses. (22:13) Main topic: The cost of maintenance and repairs. (27:38) Breaking down the Northwestern Mutual 2023 Planning and Progress study. (29:07) Mailbag: I like my advisor, but he’s hard to get in touch with. Is my account too small for him to worry about? (58:38) Retirement Ride Along: Sam’s LASIK surgery at Durrie Vision. (1:04:55) Links From Today's Show: Link to Study: https://news.northwesternmutual.com/planning-and-progress-study-2023 Durrie Vision: https://durrievision.com/ 913- 491-3330 Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org

Money can't buy love, but it can certainly start some spicy debates between you and your better half. In this episode, we're digging into the financial face-offs that make Monopoly fights look like child's play and exploring some money minefields that can test even the most solid relationships. Listen in as we explore how to resolve some of the most common financial sources of tension between couples. We kick off the episode by answering some fun get-to-know-you questions and sharing a quote of the week by Robert Kiyosaki. We also look at a MarketWatch article that discusses the idea of “periodic retirements” or intentional work breaks instead of a traditional retirement. For this week’s mailbag question, Bruce asks if he should stop contributing to his 401(k) because he fears a recession. We’ll wrap up this episode by talking about our recent trip to Detroit for the Rocket Mortgage Classic. Here's what we'll discuss on today's show: Get-to-know-you questions: Random subjects you know a lot about, high school fashion trends + why would you hypothetically be arrested? (6:24) MarketWatch Article: What is “periodic retirement” and how might it benefit those who don’t know what they want in retirement? (17:42) Main topic: Differing views on risk tolerance and investments. (24:19) Main topic: What is your vision for an ideal retirement lifestyle? (28:35) Main topic: Disagreeing on financial management. (33:20) Mailbag: I fear a recession… should I stop contributing to my 401(k)? (35:12) Retirement Ride Along: Matt and Sam’s trip to Detroit. (37:46) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today's Show: MarketWatch Article: https://www.marketwatch.com/story/retirement-is-so-traditional-try-periodic-retirement-to-figure-out-whats-next-81a9f572 The Statler (Ask for Kayla): https://statlerdetroit.com/ Prime and Proper: https://primeandproperdetroit.com/ The Whitney (Ask for Reagan): https://www.thewhitney.com/ The Shinola: https://www.shinolahotel.com/

Welcome back to The Income For Life Show! Yes, you read that title right. In today's episode, we'll explore how the world of finance can be illuminated by the insightful sayings of our grandmothers. Many of us have fond memories of our grandparents’ amusing expressions, so we'll delve into five entertaining examples and uncover the nuggets of financial wisdom they hold. We kick off the episode by answering some fun get-to-know-you questions and sharing a quote of the week by Charles Barkley. We also look at a MarketWatch article that talks about planning a fun a memorable trip with your grandkids and share the article's tips with you. This week’s retirement ride-along segment features our trip to Phoenix, Arizona, where we went to visit Matt’s daughter. Then, we’ll dive into the mailbag and answer some listener questions! Here's what we'll discuss on today's show: Get to know you questions: pet peeves, new year’s resolutions, enjoying the winter months, and more. (6:45) MarketWatch Article: Tips for planning a fun and memorable trip with your grandkids. (18:25) Grandma’s wisdom: When it rains it pours. (31:55) Grandma’s wisdom: A bad apple spoils the whole barrel. (33:42) Grandma’s wisdom: If your friends jump off a bridge would you too? (36:09) Retirement Ride-Along: Matt and Sam’s trip to Phoenix, Arizona. (38:03) Mailbag segment: Living off an annuity or moving it into a different investment account. (1:06:38) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today's Show: MarketWatch Article: https://www.marketwatch.com/story/how-to-plan-a-fun-and-memorable-trip-with-your-grandkids-f506816c Durant’s Steakhouse: http://durantsaz.com/ Century Grand Bar: https://centurygrandphx.com/ Quiessence at the Farm: https://qatthefarm.com/ OdySea Aquarium: https://www.odyseaaquarium.com/

Welcome back to The Income For Life Show! From time to time, we like to look at issues faced by people in other professions outside of the financial world and see what kind of retirement planning lessons we can learn from them. In today’s episode, we’re seeing what we can learn from teachers and the issues they face. Let’s look at how homework, standardized testing, and customized learning approaches relate to financial planning. We kick off the episode by answering some fun get-to-know-you questions and share a quote of the week by Bill Murray. We also look at a recent MarketWatch article that focuses on the impact that financial jargon has on retirement planning fear. This week’s retirement ride-along segment features our trip to San Antonio, Texas this past December. Stay tuned to hear about its stunning riverwalk and our incredible stay at the Hotel Emma! Here's what we'll discuss on today's show: The charity golf tournament Sam and Matt participated in last weekend. (2:59) Get-to-know-you question: Personal maid or personal chef? + Worst haircuts, bad habits and more! (8:44) MarketWatch Article: Financial literacy is a huge roadblock in sufficient retirement planning. (18:50) Everybody hates homework, but you still must be involved in the financial planning process. (24:15) Understanding the pros and cons of your investments. (29:50) Age-appropriate instruction is important in retirement planning- as you age, your planning approach will change. (33:04) Retirement Ride-Along: Matt and Sam’s trip to San Antonio, Texas. (40:41) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today's Show: MarketWatch Article: https://www.marketwatch.com/story/financial-jargon-is-scaring-people-into-not-saving-for-retirement-ee169a6e Prost Haus: https://www.littlerheinprosthaus.com/ Hotel Emma: https://thehotelemma.com/

Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you're eligible is the best decision for your financial future? Unfortunately, there are a lot of Social Security myths out there. Join us today as we set the record straight, debunk common myths about Social Security and answer the questions you've been curious about. Listen in as Matt and Sam answer some get-to-know-you questions and share a quote of the week by Woody Allen. We will also look at a recent MarketWatch article that discusses a study revealing that older individuals are more fearful of running out of money in retirement than they are of death. For this week’s retirement ride-along segment, Matt and Sam will talk about the recent trip they took to Kansas City. Stay tuned to hear about this fun adventure filled with charcuterie boards, wine bars, and restaurants galore! Here's what we'll discuss on today's show: Get-to-know-you: What’s the most flattering comment you’ve ever received? (5:25) MarketWatch article: The 8 greatest retirement fears. (23:55) Myth: The Social Security Administration will help you decide the best time to take your benefit. (33:45) Myth: There won’t be any Social Security benefits left when I retire. (36:43) Myth: You can’t work and receive Social Security benefits at the same time. (40:24) Matt and Sam reflect on their recent trip to Kansas City. (47:00) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today's Show: Retirement Ride-Along Photos: https://www.facebook.com/WhereSafetyMatters/photos_albums MarketWatch Article: https://www.marketwatch.com/story/older-people-fear-this-more-than-death-2016-07-18 The Better Cheddar: http://www.thebettercheddar.com/ McCormick and Schmicks: https://www.mccormickandschmicks.com/ Louie's Wine Dive: https://www.louieswinedive.com/

Get ready to roll up your sleeves and dive into the gritty side of personal finance. In this episode, we reveal how everyday household tasks can serve as reminders of the principles that lead to financial success. From taking out the trash in your investment portfolio to cleaning out the fridge of outdated financial strategies, we'll explore how to declutter your financial life. Also, stay tuned as Matt and Sam answer some get-to-know-you questions and share a quote of the week by Joe Moore. We’ll then look at a recent MarketWatch article that discusses a clause in the new debt ceiling deal that could mean bad news for Social Security. For this week’s retirement ride-along segment, Matt and Sam will talk about the trip they took to Hermann, Missouri on Memorial Day weekend. Here's what we'll discuss on today's show: Sam and Matt answer some get-to-know-you questions. (2:56) The MarketWatch article that talks about Americans cheating the tax system and how this is potentially impacting the Social Security system. (9:55) Taking out the trash- getting rid of investment “duds.” (18:34) Cleaning out the fridge- getting rid of strategies that have overstayed their welcome. (20:51) Periodic maintenance- updating your beneficiaries, assessing excess cash, and thinking about life insurance coverage. (24:35) Retirement Ride-Along: Sam and Matt’s trip to Hermann, Missouri. (34:57) Want to contact us? Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission. Get your free copy of Preparing for Retirement: Call (888) 228-8814 or email info@incomeforlife.org Links From Today's Show: MarketWatch Article: https://www.marketwatch.com/story/the-debt-ceiling-deal-this-clause-is-bad-for-social-security-a0a9e429?mod=brett-arends Retirement Ride-Along Photos: https://www.facebook.com/WhereSafetyMatters/photos_albums The Caption Wohlt Inn: https://www.captainwohltinn.com Adam Puchta Winery: www.adampuchtawine.com Stone Hill Winery: www.stonehillwinery.com The Inn at Hermannhof: www.innathermannhof.com Stephan Jones Music: www.facebook.com/iamstephenjonesmusic Hermann Trolley: www.hermanntrolley.com Doxie Slush: www.doxieslush.com Copper Mule Distillery: www.coppermule.com