Navigating Investment Strategies and Age Dynamics in the Workforce

22min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

This chapter explores the complexities surrounding target date funds and alternative investment strategies, emphasizing the need for personalized asset allocation. It highlights the unique strengths that older individuals bring to the workforce, advocating for the value of life experience and confidence in various roles. Additionally, it discusses the importance of understanding personal skills for establishing a successful service-based business, emphasizing the intersection of interests, skills, and market demand.

#529: Anonymous, 60, recently lost her job and is worried about retirement. She owns a paid-off triplex, living in one unit and renting the others for $30,000 a year. She used her 401(k) funds to buy the triplex and now has $50,000 in retirement savings and $150,000 in cash. She expects only $2,400 a month from Social Security at age 67. After losing her son two years ago, she's seeking advice on managing her underfunded retirement.

Noelle, 40, and her husband, 49, want to cancel his whole life insurance policy. They are debt-free, own their home, and plan to retire soon, relying on Noelle's $80,000 income. They have $504,000 in retirement savings. Should Noelle keep her $100,000 term life policy until she retires?

Sleepless in San Antonio, age 35, plans to retire at 45 but is concerned about how this will affect Social Security benefits, which is calculated based on the top 35 earning years. Should they work longer in order to boost their Social Security benefits?

Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.

Enjoy!

P.S. Got a question? Leave it at https://affordanything.com/voicemail

For more information, visit the show notes at https://affordanything.com/episode529

Learn more about your ad choices. Visit podcastchoices.com/adchoices