Retirement 360

Aside from the emotional aspect of a spouse passing away, the financial and legacy aspects still need to be addressed. Today Troy, whose own father died when he was three, addresses what needs to happen if a spouse passes away early, and how proper planning can help make this transition go as smoothly as it can under the circumstances.

Alan and Troy look at some current financial news and also provide updates on upcoming seminars. Later they look back at four important questions people should ask themselves before pulling the trigger on retirement.

Today's show takes a look at a recent settlement of the estate of singer Aretha Franklin, who didn't leave a formal will but a jury decided from two handwritten notes which one would act as her final wishes, pitting one of her three sons against the other two. Alan and Troy discuss why legacy planning is important, as well as getting over any trepidations about letting other family members know about your retirement financial plan.

Retiring often means getting rid of a lot of things in order to perhaps move to a smaller living space, or just to declutter because you didn't have time when you were working. Today Alan and Troy talk about downsizing and organizing all the financial statements and accounts you may have and put them together into one written financial plan that can guide you through retirement so your money can work for you however you need it to.

The go-go years, the slow-go years and the no-go years are the common nicknames for the three stages of retirement, each lasting roughly a decade. Alan and Troy look at each of these stages, how people generally hope to live in each and how their money needs to work properly for them in each as well.

The long time host of the popular TV game show Wheel of Fortune, Pat Sajak, recently announced he is retiring. This provides a starting point for a discussion by Alan and Troy about how to plan for a retirement which could last as long as your working career. Later in the show the guys revisit how to put together a five star retirement plan to cover all aspects of post-working life.

Protected income is money coming in outside of Social Security that is guaranteed, and more families are turning to these types of strategies according to a recent study. Alan and Troy discuss the types of financial vehicles that can produce protected income and how they may fit into any individual retirement plan.

Complacency is something many Americans practice, especially when it comes to finances. That is just one of several habits to break according to Alan and Troy, along with so-called lifestyle creep as well as not planning for future taxes. These and other things must be taken into account for anyone's retirement to be successful from a financial standpoint.

It isn't pleasant, but planning for a worst case scenario, such as a major health event or the death of a spouse, is necessary. Alan and Troy talk about how proper planning can cover some of the catastrophic costs associated with things like long term care or other major health care costs.

Alan and Troy go over the debt limit being argued in Congress an d how it could play into short term retirement planning. Later they revisit how to best make your money work for you during your post-career years.

Sometimes just small tweaks can improve a lot of things, including a retirement plan. Today Alan and Troy talk about how making marginal gains in any one area can improve your plan and how an advisor can help make that happen. They also talk plans for summer travel for the coming season.

Alan and Troy discuss issues such as letting lifestyle creep sink in, along with procrastinating and putting off getting a retirement plan put together and others that could put a major crimp into potential retirement desires. They also look back at the upcoming rush of Generation X members coming into retirement and how planning now will help their plans be that much more effective.

Alan and Troy talk about things you need to determine as you begin the planning process, including what an individual or couple want to accomplish in retirement, and then work toward applying the financial goals to help make it happen. Later in the show they look back at risks in retirement planning.

Today Troy and Alan look at recent headlines, including the recent shootings in downtown Louisville. Later they revisit the topic of a retirement checklist and things you need to do to make sure your retirement plan takes care of all your needs.

You may have heard of a five star restaurant, or five star resort. But what is a five star retirement plan? Today Alan goes over the five main pieces that make up a great retirement plan, covering income, taxes, health care and legacy planning and more.

Your retirement savings has to cover a lot of things - rising health care costs, inflation in general, taxes, emergencies, the works. It can be a challenge to make sure it's all taken care of. Today Alan and Troy discuss what you can do in your plan to see that these areas are properly planned for.

After some words on the recent Silicon Valley Bank failure, Alan and Troy take a look at the upcoming groups of retirees - baby boomers in the present day and Gen Xers in the near future - and discuss what each needs to do to be as prepared for retirement as they can be.

Every retiree would like to be able to do this - keep as much income in their own pocket as possible. But it's not that easy with inflation, taxes and other considerations. Today Alan looks at ways in which a solid retirement plan can help you keep more of your own money by being efficient with your expenses.

Today Alan goes over four areas that are not entirely known when someone is getting ready for retirement, such as how long one might live, or the cost of health care - and definitely future market performance. And throw taxes in there and - well, there is a lot to plan for any and all scenarios. Alan goes over how the Retirement 360 Game Plan takes these into consideration when putting a plan together so that it will work no matter what the future holds.

It's not necessarily how much money you have, but how it is implemented in your plan that determines much of its success. Alan and Troy take a look at how money management can help create income and provide for other needs in one's retirement years.