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The Financial Samurai Podcast
Concerns From Retirement Planners With Steve Chen, Founder of Boldin (formerly NewRetirement)
Dec 6, 2024
Steve Chen, founder and CEO of Boldin, a DIY financial planning software, dives into the complex world of retirement planning. He addresses common concerns retirees face, particularly around healthcare and income management. The discussion highlights the significance of strategic asset allocation while tackling misconceptions about retirement wealth in America. Chen also shares insights on managing required minimum distributions and the tax implications associated with retirement savings, all while underscoring the importance of financial literacy and personalized strategies for wealth accumulation.
33:28
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Quick takeaways
- Accessible financial planning tools are essential for retirees, especially those with modest savings, to navigate complex issues like asset decumulation and tax strategies.
- Understanding changing spending habits in retirement can empower individuals to make informed financial decisions and align their savings goals accordingly.
Deep dives
Understanding Retirement Planning Needs
Retirement planning is a significant concern for many individuals, particularly those approaching the age of retirement, usually starting around 45. There is a common misconception that financial advisors only cater to wealthy clients. The discussion highlights the need for accessible financial planning tools, particularly for those with modest savings, as many individuals lack the adequate wealth to warrant traditional financial advisory services. A software solution was developed to help users navigate the complexities of retirement planning, such as asset decumulation, tax strategies, and healthcare options.
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