What do you do if you haven't put enough money into your retirement account over the course of your working life, and you know you don't have enough money or time to fund the retirement you want?
You might be tempted to act like a losing football team and throw caution to the wind with a Hail Mary pass. But your financial life is more consequential than a football game, and what you don't want to do is to make a bad situation even worse.
If your retirement plan has gotten off track, there are still some actions you can take to try to get it back on track. In this episode, Mark Riepe speaks with Cindy Scott. Cindy is a CERTIFIED FINANCIAL PLANNER™ professional with Schwab in Westlake, Texas, and has helped hundreds of people in setting retirement goals and creating plans to pursue those goals and achieve them. She was a guest on the show back on Season 8, Episode 3: "How Can You Set Better Goals?"
A few of the issues Mark and Cindy discuss include:
Follow Financial Decoder for free on Apple Podcasts or wherever you listen.
Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder.
If you enjoy the show, please leave us a rating or review on Apple Podcasts.
Important Disclosures
Investors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read it carefully before investing.
The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.
All expressions of opinion are subject to change without notice in reaction to shifting market conditions.
This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.
Investing involves risk including loss of principal.
Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.
Diversification, asset allocation, and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Rebalancing may cause investors to incur transaction costs and, when a nonretirement account is rebalanced, taxable events may be created that may affect your tax liability.
Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.
An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.
Charles Schwab & Co., Inc., a licensed insurance agency, distributes certain life insurance and annuity contracts that are issued by non-affiliated insurance companies. Not all products are available in all states.
All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.
Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.
Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.
Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.
Spotify and the Spotify logo are registered trademarks of Spotify AB.
(0922-2KBC)
(Bonus) Does Your Portfolio Need Decluttering?
Do Investing Pros Make Smart Buy and Sell Decisions?
How Can You Save for College?
What Should You Do with Your Employee Stock?
(Bonus) Do Super Bowl Wins Diminish in Value?
Should You Trust Popular Trading Proverbs?
Should You Roll Over Your Retirement Account?
(Bonus) From On Investing: Market Outlook: What's in Store for 2024?
How Does Retirement Planning Differ for Freelancers?
How Can You Build Your Pre-Retirement Checklist?
Should You Pay Off Your Mortgage Before You Retire?
How Did Chuck Schwab Disrupt an Industry? (Rebroadcast)
Do You Need a Financial Advisor?
How Can You Prepare for the Perils of Aging? (Rebroadcast)
What Should You Do If You or Someone You Love Becomes Disabled?
2023 Mid-Year Market Outlook
How Can You Think Like a Fund Manager?
When Can Direct Indexing Make Sense for Your Portfolio?
Jodi's Story: How Can You Prepare for a Career Change?
What Should Be on Your Wealth Management Watch List This Year?
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Choiceology with Katy Milkman
Schwab Market Update Audio
WashingtonWise
On Investing
Giving With Impact