492: 3 Levels of Retirement Readiness: Where Do You Stand?
whatshot 8 snips
Apr 4, 2025
How ready are you for retirement? Discover the crucial differences between financial and non-financial readiness. Explore the importance of a solid income strategy and long-term care insurance. Learn how to assess your personal financial situation and prepare for changes ahead. This insightful discussion will guide you through the levels of retirement readiness and provide actionable advice to ensure a smoother transition into this exciting phase of life.
23:07
forum Ask episode
web_stories AI Snips
view_agenda Chapters
menu_book Books
auto_awesome Transcript
info_circle Episode notes
volunteer_activism ADVICE
Assess Your Retirement Readiness
Gauge your retirement readiness on a scale of one to ten, considering both financial and non-financial aspects.
Identify gaps in your preparation, regardless of your current level.
insights INSIGHT
Financial vs. Non-Financial Preparedness
Often, those most financially prepared are least prepared non-financially, and vice-versa.
Consider both aspects when planning for retirement.
volunteer_activism ADVICE
Level One: Basic Retirement Readiness
Level one individuals often have savings but lack a clear retirement plan and don't know their target number.
Determine your "number" to clarify your financial goals and assess if your current savings suffice.
Get the Snipd Podcast app to discover more snips from this episode
The Science of Retiring with Confidence; The Art of Living with Purpose
Casey Weade
Job Optional is a thoughtful and down-to-earth guide to retirement planning. The book offers unbiased, commonsense advice based on the author's experience as a retirement planning professional. It acts as a primer to the financial world, making complicated topics accessible, and provides a step-by-step guide to planning your own retirement. The book focuses on identifying a life purpose and creating a plan to organize assets efficiently to achieve that purpose. It covers various financial concepts, strategies, and terms, including purpose-based asset allocation, liquidity planning, income planning, growth planning, and estate planning. The author interweaves personal stories to make financial planning real and understandable, emphasizing that success is not just about money but about purposeful living.
How would you rate yourself on the retirement readiness scale? When you understand where you are and how to proceed, you are more likely to feel elevated confidence to and throughout retirement.
📧 WEEKEND READING FOR RETIREES: Receive CFP® insight on 4 hand-picked financial articles delivered straight to your Inbox each Friday: https://bit.ly/3OEdGgu
📅 SCHEDULE YOUR PERSONAL FINANCIAL REVIEW: Book a 15-minute call with Howard Bailey Financial to see how the topics discussed here apply to your individual situation: https://bit.ly/3z5mXIw
ABOUT HOWARD BAILEY FINANCIAL: Our mission is to help others gain clarity in purpose and elevate meaning in their lives through personal and practical financial strategies. Our Retire With Purpose™ Framework starts with establishing your unique financial philosophy — the true meaning and purpose for your money in retirement. Through continued education, one-on-one meetings, and a comprehensive team planning approach, we have helped retirees across the country secure their financial futures. And while we can't work with everyone, our goal is to provide value to everyone we meet. Our team of advisors and support specialists strive to deliver the very best experience in pre-retirement and retirement planning. Learn more about our process here: https://howardbailey.com/our-process
Retire With Purpose - The Retirement Podcast 