In the spirit of Halloween, we take a look at some of the scariest facts about retirement. From savings to the price of healthcare in retirement, these numbers will open your eyes to the realities about retirement and why it can be a challenge for many Americans
On this episode:
0:52 – Excited for today’s show on scary facts.
3:03 – First scary fact: Congressional tax reform could severely pre-tax contributions to retirement plans.
5:34 – Nathan worries that these changes could hurt individuals because they’ll end up saving less.
6:36 – Another scary fact: A couple expect $275,000 in out-of-pocket medical expenses in retirement.
8:13 – Scary fact No. 3: 68% of Baby Boomers wish they’d saved more for retirement.
10:59 – Scary fact No. 4: 55% of retirees retired earlier than they expected - most of the time due to health issues or a job loss.
12:17 – Scary fact No. 4: 45% of Americans have saved nothing at all.
15:02 – Scary fact No. 5: 20% of Americans with a 401(k) plan take an early withdrawal or a loan against.
16:47 – Email question: Listener only has about $20K left on his vehicle until he is debt free and is considering taking money out of his 401(k) to pay that off. Is that a good idea?
18:48 – Scary fact No. 6: According to Social Security, only 77% of benefits will be promised being in 2034.
21:18 - We have to make sure we have investments that are outpacing inflation in retirement.
Show notes and additional resources: https://thefinancialanswer.com/podcasts/scary-facts-about-retirement/
The Retirement Pyramid
Unique Challenges In Retirement
Mind The Gap
Just What The Doctor Ordered
The Right Fit For You
Music Lessons
Not Your Parents' Retirement
Mother Knows Best
Financial Codebreaking
The Market Crash Hall Of Fame
Flirting With Disaster
Nathan's Take On Taxes
Music Lessons
Your Financial Philosophy
Risks And Statistics
The Market Crash Hall Of Fame
Invest Like A Genius
401(k) FAQs
Financial Commandments
Hindsight Is 20/20
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast