The Prosperity Gap Podcast
We teach you how to bridge the financial gap in your life and better prepare you for retirement. Season one was 30 episodes all about Financial Literacy. Well, season two is all about taking it to the next level with retirement. As we talk to others, we realize that over 70% of Americans have not prepared themselves for retirement, and of those who have, 68% assume they're gonna run out of money before they die. Are you ready to bridge the financial gap in your life? Let's go!
Episodes
With age comes mental decline. Because of this, retired folks are preyed on more by financial scammers than any other age group.
Retirees find themselves helping family—children, grandchildren, and even their own parents as life expectancy increases. Well-planned retirement plans should take into consideration the chance of having to help family.
Health Care Needs
In retirement, folks typically spend $250,000-300,000 alone in medical expenses With scientific advances being made every day, life expectancy increases. Statistically speaking, the longer one lives, the more of a chance they are to experience medical needs—unpredictable and expected.
Public policy has a huge impact on programs such as Social Security, Medicare, and Medicaid. If major changes are made within these public policies it could cause an increase in taxes, reduction in benefits. Uncertainty is detrimental to a safe and secure retirement.
It is not secret that the Covid-19 pandemic has affected the economic climate and financial health of our world. Recovering from it will take many years. A lot of folks took advantage of the CARES Act early distribution relaxation to offset financial downturn.
Retirees often only have a 401(k) as their investment vehicle in their portfolio, especially if they do not meet with an advisor to determine other options. Knowing the risks and how the ball is majorly in your own court will help you save for a secure retirement.
Reverse mortgage allows for extra funds in retirement. This could be as a means to have for living or use for emergency or to supplement a loss with an economic downturn in retirement savings.
Retirement is a new chapter of life. Going from an era of structure, be it from work or raising a family, to an era of almost zero structure is a gigantic life adjustment. It is important to tend to your retirement portfolio and your mental portfolio just the same.
Interesting Fact: 1 in 5 retirees experience poor mental health; 2 of 5 in care homes experience depression/poor mental health
Inflation is thought of in retirement planning, but most retirees do not consider how it will continue to increase even throughout their retirement. They say there is no rest for the wicked! For example, based on life expectancy, someone retiring between 65-70 should plan to life on average another 20 years. Assuming a rate of 3%, daily costs of living could potentially double within 20-24 years.
Debunking the Top 5 Annuity Myths
In this episode of the podcast we are digging deep. We are going to talk about the fears in retirement and how to be prepared. There can be a lot of fear when discussing retirement and we are breaking this down on a very a personal level.
If you are not prepared it can cause problems, so it is all about putting a plan together and avoid the pitfalls that came in retirement.
It is about having an enjoyable retire...
Medicare mistakes 9-16. Helping you avoid these mistakes before retirement.
Dave covers 8 out of the 16 most costly mistakes when it comes to Medicare.
Qualified Longevity Annuity Contracts - (QLAC) is a type of deferred annuity funded with an investment from a qualified retirement plan or an individual retirement account.
It's time to really understand the importance of your Social Security in retirement.
Dave breaks down the highlights of the Secure Act 2.0
Dave breaks down how you can transfer from a traditional retirement account to an HSA
The best of the best with Dave Hall. Dave answers retirement questions.
Dave Hall breaks down the US financial situation and tax rate risk facing you in retirement.
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