My Retirement Clarity with Lee Perkins

Ep 105: A Comprehensive Dismantling Of 2023’s Top Social Security Myths

As most of us know, navigating Social Security can be a challenge, and unfortunately, there is a lot of misinformation about there about this important benefit. With so much confusion surrounding this topic, we’re here today to set the record straight. In this episode, we’re debunking the most common myths about Social Security and answering the questions you've been curious about.
 
Here are the myths we’ll discuss in this episode:
Myth: The Social Security Administration will help you make the best decision about when you should start your benefit. (4:40)
Myth: You won’t have to pay taxes on Social Security. (7:50)
Myth: There won’t be any Social Security benefits left by the time you retire. (13:05)
Myth: You can’t work and receive Social Security benefits at the same time. (17:25)
Myth: You should claim your Social Security benefits as soon as you’re eligible. (20:24)
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
 Get more financial education at http://myretirementclarity.com

Ep 104: How Much Do I Need To Retire?

Lee has been working in the financial industry for over 16 years, and during that time, has encountered a wide variety of financial planning questions. However, there is one question that seems to come up more frequently than any other: "How much do I need to retire?" Is one million enough for everyone? Although it appears to be a straightforward question, we’re going to dive into the complexities of this topic today.
 
Here's what we'll discuss in this episode:
Why the question “How much do I need to retire?” is difficult to answer. (2:03)
Why a million dollars may not be enough to retire on for everyone. (3:11)
The importance of keeping track of your expenses. (5:34)
Lee’s challenge for those looking to retire in the relative future. (9:29)
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
 Get more financial education at http://myretirementclarity.com
 

Ep 103: How To Lose All Of Your Money

As you prepare for retirement, you want to make sure you’re doing everything you can to secure your financial future. We’ve talked a lot on this podcast about strategies to help you grow your wealth for retirement, but it’s just as important to consider the risks that could wipe out your savings entirely. On today’s episode, we’re covering the two big ways that you could lose every dime you have, and how to avoid these critical mistakes.  
 
Here are some of the topics we will cover in this episode:
Investing your life’s savings in a business idea of a friend, relative, or child. (3:48)
The consequences of investing all of your money in one company. (8:29)
Why Lee does not recommend that his clients buy individual stocks. (12:23)
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
 Get more financial education at http://myretirementclarity.com

Ep 102: Should An Advisor Tailor A Plan To Fit Your Personality?

Are you tired of one-size-fits-all financial advice that doesn't quite fit your unique needs and goals? There are many types of personalities out there when it comes to financial matters, and we’ve found that most of our clients fall into one of the categories we’ll discuss today. In this episode, we’ll explore how understanding your financial personality can help you make more informed financial decisions.
Here are some of the topics we will cover in this episode:
The ‘victim’ who has been burned by something in their financial past. (2:50)
The ‘over-analyzer’ who has a tough time making financial decisions. (5:16)
The potential risks ‘do-it-yourselfers’ face by not seeking professional financial advice. (7:36)
“There are risks associated with being too conservative.” How ‘silo stockers’ can benefit from having some money in the market. (14:02)
Working with couples that are not on the same page regarding finances. (16:23)
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com

Ep 101: Moving Your Retirement Goalposts - Is It Worth The Risk?

Do you ever feel like your retirement planning goals are always moving? You're not alone. We’ve found that people often move the goalposts in their own retirement planning, often to their detriment. In this episode, we're diving deep into the psychology of retirement planning and the dangers of moving the goalposts.
Here are some of the topics we will cover in this episode:
Holding onto excess cash and not investing it could mean giving up on potential earnings. 2:15
Procrastinating with investing is an easy trap: “There’s always going to be a reason to keep you from saving money.” 5:40
The danger of waiting to reach a specific number in your investment account before reducing risks. 10:06
How procrastinating retirement planning could have you working longer than you originally planned. 13:19
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com
 

Ep 100: Facing Financial Fear in Retirement

In this episode, we’ll highlight the most common financial fears and discuss how to address them in your retirement plan. Whether you are worried about running out of money during retirement or aren’t sure how to find the best financial advisor for your situation, this episode will help you face these fears head on. 
Here are some of the topics we will cover in this episode:
The fear of running out of money during retirement and preparing for the expense of end-of-life care 2:13
The fear of overpaying for taxes and why it’s important to plan as taxes increase over time. 7:39
Finding the balance between leaving behind a legacy and enjoying your retirement lifestyle. 10:23
The fear of having to reduce the quality of your life in retirement because of the economy. 13:22
How to find an advisor you trust with your financial situation. 16:01
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com
 

Ep 99: Why Am I Afraid to Spend My Money?

We work with some tremendous savers who worked hard and sacrificed to build a nest egg, and that mindset isn’t easy to move away from. Many of those same savers are afraid to spend their own money once they’ve reached retirement.
So what can you do to embrace that mindset shift? We’ll share a recent conversation we had about this and discuss some ways you can address the problem.
 
Here’s some of what you’ll learn in this episode:
Why is this struggle to spend money a little more prevalent in recent years? 1:03
What happens to your mindset when you retire? 3:40
Why remaining disciplined with your investment strategy will help you do better over the long-term. 7:14
How we perceive value when it’s our money versus when the money comes from someone else. 10:35
What can you do to give yourself confidence to spend money in retirement? 13:45
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
 Get more financial education at http://myretirementclarity.com

Ep 98: Four Ways The SECURE Act 2.0 Might Impact You

After being discussed in Congress for nearly a year and a half, the SECURE Act 2.0 passed in January. This follows the original piece of legislation that took effect at the beginning of 2020. With a list of nearly 100 provisions, there’s too much to sort out in one show. Instead, we want to highlight a few of the planning opportunities that could affect most retirees.
 
Here’s some of what you’ll learn in this episode:
The RMD age is moving back again in 2023. 2:52
Catch-up contributions have received an adjustment that people approaching retirement need to know about. 6:51
You will soon have the option to roll money over from a 529 plan to a Roth. 9:24
Now people will have the chance to earn their company match to a 401(k) while making qualifying student loan payments. 12:23
How can you forecast the tax amount you’ll owe in retirement?  16:45
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com

Ep 97: Living Off the Interest in Retirement

If you’ve been a good saver for most of your life, you might find yourself in a position at retirement where you want to try to live off the interest the money can make you rather than tapping into your nest egg.
It’s a great idea and would go a long way toward protecting your money, but is it a realistic goal? In today’s episode, Lee is going to tell you why living off the interest in retirement probably won’t work.
Here’s some of what you’ll learn in this episode:
When did people start having the idea that you could live off interest in retirement? 2:24
Why this goal might have seemed realistic in the 70s and 80s. 3:42
What has changed since that time? 4:47
Here’s how we break down the math. 7:43
This is why income planning needs to be more of a focus for retirees. 10:40
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com

Ep 96: Setting Financial, Business and Personal Goals For 2023

In this episode, we want to set some well-thought-out goals that we can plan for and work hard to achieve. We’ll do that in the area of business, finance, and personal goals with the help of Lee today to give you some things to strive for in every area of life.
 
Here’s some of what you’ll learn in this episode:
What personal goals has Lee set for the year? (2:33)
Relationship goals for 2023. (6:10)
The goals that business owners can aim for. (8:37)
How Lee prioritizes financial goals. (12:01)
Should tax planning be included in your goals? (15:39)
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
 Get more financial education at http://myretirementclarity.com