BiggerPockets Money Podcast

466: The Retirement Planning Roadmap: 401(k)s, Real Estate, Bonds & More

Nov 6, 2023

Robert Brokamp, financial expert, joins the show to talk about retirement planning. Topics include 401(k) contributions, individual stock vs. index fund investing, annuities and bonds, the future of social security, and the importance of starting to spend more money before retirement.

47:43

Episode guests

Robert Brokamp

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Quick takeaways

Delaying Social Security benefits until age 70 is recommended to maximize the payout.

Balancing individual stocks and index funds in a diversified portfolio can help optimize returns and manage risk effectively.

Deep dives

Retirement Planning Strategies

Retirement planning involves considering various strategies and factors. Delaying Social Security benefits until age 70 is recommended to maximize the payout. Annuities, specifically single premium immediate annuities, can provide a reliable stream of income in retirement. It's essential to have enough portfolio diversification and plan for unexpected events like market downturns and inflation. Many people tend to underspend in retirement, so it's important to find the right balance between saving and enjoying the fruits of your labor. Overall, understanding withdrawal rates, asset allocation, and utilizing tools like Social Security and annuities can help ensure a secure retirement.

Introduction

4min

The Importance of Financial Education and Retirement Planning

3min

Retirement Planning and Saving Early

10min

Understanding Tax Loss Harvesting and Addressing Counter Arguments

2min

Retirement Portfolio Allocation and Safe Withdrawal Rates

9min

Options for Generating Reliable Income During Retirement

19min

Finding an Investor-Friendly Real Estate Agent

2min

If you haven’t started your retirement planning yet, you’re not out of luck. Whether you’re in your twenties, thirties, forties, fifties, or sixties, there’s still time to get enough into your accounts so you can walk away from work and live life on your schedule. So, even if you’re starting late, fret not because today, we’ll walk through everything you need to know to get your retirement planning in gear! To help, The Motley Fool’s Robert Brokamp is joining us on the show!

Robert, like many of us, started looking into investing when he was too broke to afford what he needed. Afterresearching index funds, compound interest, and basic investing, Robert thought, “Why isn’t everyone taught this?” This question inevitably led him to become a CFP (certified financial planner), join The Motley Fool, run the popular “Rule Your Retirement” service, and contribute to the Motley Fool Money podcast.

Robert has been helping people reach their retirement goals for decades, and today, he’s here to help you do the same. This money masterclass will go through all aspects of retirement planning, from 401(k) contributions to individual stock vs. index fund investing, when annuities and bonds make sense for your portfolio, the future of social security, and why you may want to start spending MORE money before you retire.

In This Episode We Cover

Retirement planning 101 and how to get on track even if you haven’t started investing

The good, bad, and ugly 401(k)s and how to know which one YOUR company has

Individual stock investing vs. index funds for a faster-growing retirement portfolio

Inflation-adjusted investments, annuities, and when buying bonds makes sense

The BIGGEST regret retirees have once they’re able to leave work

The EXACT portfolio Mindy and Scott would build for an ample retirement

And So Much More!

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