Intro

This podcast covers the non-financial aspects of planning for retirement. But make no mistake – you have to get your money right. Lane Martinsen is the author of 5W Retirement Blueprint: Maximize your Retirement Income through Holistic Planning, which describes his approach of holistic retirement planning.

Lane Martinsen joins us from Arizona.

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Bio

Lane G. Martinsen is a Certified Financial Fiduciary®, an Investment Advisor Representative, and a Retirement Income Certified Professional (RICP®).

Lane is the Principal of Martinsen Wealth Management, LLC located in Tempe, Arizona. Lane is an Ed Slott Elite IRA Advisor and a member of the National Ethics Association (NEA). Lane has a diverse background within the financial services industry that first started in 1988. In addition to serving his own clients, Lane has trained and mentored hundreds of other financial advisors from all parts of the country.

Lane id the author of 5W Retirement Blueprint: Maximize your Retirement Income through Holistic Planning and of the Amazon bestselling book  The Holistic Retirement Planning Revolution. He’s also the host of the popular educational YouTube channel The Financial Fast Lane.

Lane and his wife Tara met in college and recently celebrated their 31st anniversary. They have 5 children and 6 grandchildren. In 2010 (before any grandchildren were born) they fulfilled a dream to live with their kids in a foreign country. Lane and his family lived near the beach at Playa Conchal in beautiful Costa Rica for one year 2010-2011. During this time they formed many treasured memories and were able to provide humanitarian services to the local Tico people that they grew to love deeply.

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For More on Lane Martinsen

5W Retirement Blueprint: Maximize your Retirement Income through Holistic Planning

The Financial Fast Lane You Tube Channel

Martinsen Wealth Management

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Podcast Conversations You May Like

Retiring: Creating a Life That Works for You – Teresa Amabile

How to Retire – Christine Benz

The Key Decisions for Retirement Success – Wade Pfau

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About The Retirement Wisdom Podcast

There are many podcasts on retirement, often hosted by financial advisors with their own financial motives, that cover the money side of the street. This podcast is different. You’ll get smarter about the investment decisions you’ll make about the most important asset you’ll have in retirement: your time.

About Retirement Wisdom

I help people who are retiring, but aren’t quite done yet, discover what’s next and build their custom version of their next life. A meaningful retirement doesn’t just happen by accident.

Schedule a call today to discuss how The Designing Your Life process created by Bill Burnett & Dave Evans can help you make your life in retirement a great one – on your own terms.

About Your Podcast Host 

Joe Casey is an executive coach who also helps people design their next life after their primary career and create their version of The Multipurpose Retirement.™ He created his own next chapter after a twenty-six-year career at Merrill Lynch, where he was Senior Vice President and Head of HR for Global Markets & Investment Banking. Today, in addition to his work with clients, Joe hosts The Retirement Wisdom Podcast, which thanks to his guests and loyal listeners, ranks in the top 1 % globally in popularity by Listen Notes, with over 1.6 million downloads. Business Insider has recognized Joe as one of 23 innovative coaches who are making a difference. He’s the author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your Joy.

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Wise Quotes

On Holistic Retirement Planning

“Holistic planning is not traditional. Most Financial Planning is kind of transactional in nature and it’s specific to a certain transaction or a certain goal. But when you when it comes to retirement planning and we’re going to plan for decades, right? The quality of the planning becomes much more important and holistic planning is taking in all the aspects. So it’s certainly much more than investing right? You’re looking at the tax implications over time,  healthcare, and will my money run out? The five W’s are the five key areas of wealth management so it’s it includes investment planning, it includes income planning, tax planning, health care planning and legacy or estate planning. So there’s a kind of the five big areas and you can’t really neglect any of those. So if you’re leaving one or two of those off, you really don’t have a complete plan.”

On Risk and Holistic Retirement Planning

“A lot of times people don’t understand sequence of returns risk for one. And a big reason for that is because they’ve never had to deal with it.  All during their working years, there is no sequence of returns risk. It’s only as they get close to retirement and then in those retirement years. And people don’t really know how that works and what is the risk. And so that’s one big area where we like to educate them. You really can manage it well when you have a strategy to do so, but if you don’t have that strategy. then there’s more risk than you should take. Inflation, of course, losing buying power every year is something you have to account for. And a lot of times people aren’t really thinking through that. RMDs that kick in and can cause additional taxation. We call them tax triggers. It’s like you kind of think you kind of know what the tax brackets are and then, Oh, wait a minute. Now I have some extra tax on this or my Medicare goes up. And so there’s little surprises like that. We like to shine a light on and make sure we’re not doing things that cause our money to be depleted prematurely.”

On Market Volatility

“We don’t ever like to make predictions. But one prediction I can make is that there will be volatility in the markets. There always is. It’s in the nature of the markets and you just you’ve got the timeframes and you’ve got the right strategies. It’s nothing to be feared. Lack of preparation is something to be feared.”

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