178. More Than Money: Retire like a badass! Robert Pagliarini breaks down financial terms, his secrets to retirement, and how to be successful with your money
Jun 27, 2024
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Robert Pagliarini, retirement specialist, shares secrets to retirement planning, including saving formulas, IRA vs. 401k, PERK strategy, avoiding emotional decisions, and working with a CPA. Discussions on fresh pet food, financial literacy, and index funds for long-term wealth accumulation.
Retirement planning involves saving current income for future stability based on factors like age and income levels.
A guideline recommends saving half your age percentage of income for incremental savings relative to age bracket.
Choosing fiduciary financial advisors bound by law ensures client-centric financial guidance, minimizing conflicts of interest.
Deep dives
Robert Paliini's Impressive Credentials and Specialization in Sudden Wealth
Robert Paliini, a retirement specialist and president of Pacifica Wealth Advisors, boasts a remarkable background, holding a PhD in financial and retirement planning, being a certified financial planner, and an enrolled agent with the IRS. His expertise lies in catering to sudden money recipients, aiding them in surpassing sudden wealth syndromes. Additionally, his appearances on various prominent platforms and extensive list of publications underscore his authority in the field.
Retirement Planning Fundamentals and Starting Points
Retirement planning entails extracting current income to secure future stability, ensuring sufficient capital for a comfortable lifestyle post-retirement. This process varies with factors like age, employment status, and income levels, highlighting the foundational aspect of saving and investing wisely for a financially secure retirement.
Simple Rule for Retirement Savings Based on Age
A straightforward yet effective guideline suggests saving half your age percentage of income, enabling individuals to incrementally increase savings relative to their age bracket. This approach advocates allocating a percentage of earnings towards retirement funds, fostering a proactive attitude towards securing financial stability in later years.
Optimal Investment Strategy with Index Funds
Embracing a passive investment approach through index funds remains a prudent choice, emphasizing a diversified asset allocation across stocks and bonds. By prioritizing low-cost index funds, individuals can sidestep the complexities of active fund management, fostering long-term wealth accumulation and minimizing emotional investment decisions.
Ensuring Financial Advisor's Alignment with Client Interests
Highlighting the critical aspect of selecting fiduciary financial advisors, who are bound by law to act in the client's best interests, safeguards individuals from potential conflicts of interest. Thorough due diligence, such as verifying credentials, litigations, and regulatory history, along with assessing advisors' responses, helps ensure prudent financial guidance aligned with the client's needs and objectives.
This week, Jason is joined by retirement specialist, Robert Pagliarini!
Robert is the president of Pacifica Wealth Advisors and has some serious credentials. He’s earned a PhD in financial and retirement planning, a certified financial planner and an enrolled agent with the IRS. He specializes in serving sudden money recipients to help clients overcome sudden wealth syndromes. Robert reveals his simple, yet effective equation for saving for retirement, what an IRA is versus a 401k, when it is time to retire, how to utilize PERK, not to get emotional when it comes to finances, and even answers some questions from the Money Mafia! What kind of questions should you be asking to an advisor? What is part time retirement?
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