Episodios

  • How Close Are You to Retirement? Listener Questions Answered, Ep #199

    How Close Are You to Retirement? Listener Questions Answered, Ep #199
    Nov 15 2025
    Today, in our 199th episode, I dive into some timely updates on Social Security and answered a batch of long-overdue listener questions. We kick things off with the newly announced 2.8% cost-of-living adjustment (COLA) for Social Security benefits starting January 2026. While that sounds like good news, I cautioned listeners not to celebrate too quickly. Medicare Part B premiums are expected to rise by 11.6%, or about $21.50 per month, which will eat into that COLA, leaving most recipients with a net increase of only around $34.50. I argue that announcing the Social Security COLA a month before Medicare premiums is misleading and suggested both should be released simultaneously to give retirees a clearer picture of their actual income changes. I also highlight the increase in the Social Security earnings limit, which will rise from $176,100 in 2025 to $184,500 in 2026 (a 4.77% jump). This means higher earners will contribute more to Social Security before hitting the cap. On a brighter note, the stock market has been performing exceptionally well in 2025, with major indices like the S&P 500, NASDAQ, and international markets all posting double-digit gains. At Retire Strong Financial Advisors, we're seeing more people seeking second opinions on their retirement plans, especially as their 401(k)s and 403(b)s hit all-time highs. I wrap up the episode by tackling some fantastic listener questions and reminding everyone to check out our free resources and YouTube channel for more retirement planning insights. You will want to hear this episode if you are interested in... (00:00) Intro.(00:27) Social Security Updates.(11:28) Roth Conversions Explained.(19:53) 401k Management Fees.(21:14) Retirement Planning for Couples.(27:19) Annuity Product Warnings.(31:07) Retirement Withdrawal Strategies. Breaking Down Roth Conversions and 401(k) Management Options One listener, JB, asked a great question about Roth conversions, so I took the opportunity to break it down from the basics. A Roth conversion involves moving money from a pre-tax account like a traditional IRA or 401(k) into a Roth account, paying taxes on the converted amount now so it can grow tax-free in the future. This strategy can be especially powerful for those whose retirement savings are heavily concentrated in pre-tax accounts. However, it's not a one-size-fits-all solution. Roth conversions can trigger higher taxes on Social Security benefits, push you into a higher tax bracket, or increase your Medicare premiums. There's also the five-year rule to consider, which can limit when you can access the converted funds. That's why I always recommend working with a fiduciary financial planner or tax advisor to determine if it's the right move. Another listener, Kelly, asked about paying Financial Engines to manage her 401(k). I explained that these services are optional and you can opt out and manage your own portfolio if you're comfortable. But if you're receiving personalized advice and planning, the fee might be worth it. Big Savings, Bigger Risks: Why Planning Matters Then we heard from Gary, who's 60 and married to Linda, who's 52. He's saved over $2 million mostly in a pre-tax 401(k) and has a pension that won't begin until age 65. Linda works part-time, and with their eight-year age gap and no clear Social Security strategy, there are several risks they need to address. If something were to happen to Gary, Linda wouldn't be eligible for survivor Social Security benefits until she turns 60, and the tax burden on their pre-tax savings could be significant for the surviving spouse. Other unknowns like their debt, health insurance plans before Medicare, and pension survivorship options will add more complexity. Life insurance and relocation plans are also critical factors that could impact their long-term financial security. I emphasized the need for a comprehensive retirement plan to help them navigate these issues. On a related note, I addressed a listener's question about annuity sales pitches at steak dinner seminars. While annuities can have a place in a portfolio, they're often sold with high fees, surrender penalties, and limited liquidity. I've seen too many people regret these decisions, so I always urge caution that if someone's buying you dinner, they're probably trying to sell you something. Retirement Education Without the Sales Pitch That's why we do retirement education differently. Our seminars are held at local libraries, no fancy dinners, no alcohol, and absolutely no product pitches. We're there to educate, not sell. This approach ties into Cindy's excellent question about which retirement account to withdraw from first. She has a mix of accounts, 401(k), Roth, and a stock account she hopes to leave to her kids, and she's unsure how to begin her decumulation strategy. This is a crucial decision, and unfortunately, many people get it wrong. The old "conventional wisdom" of spending taxable accounts first, then pre-tax, ...
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    41 m
  • The Ultimate 401(k) Guide Planning, Pitfalls, and Power Moves, Ep 198

    The Ultimate 401(k) Guide Planning, Pitfalls, and Power Moves, Ep 198
    Nov 1 2025
    In this episode of the Retirement Made Easy podcast, I delve into 401(k)s: how they work, why they matter, and how to maximize their benefits. I break down the basics in simple terms, just like I always aim to do, because retirement planning shouldn't be confusing. I discuss the differences between good and not-so-great 401(k) plans, the pros and cons of keeping your money in a 401(k) versus rolling it into an IRA, and how changes in providers can impact your investment options. I also share a helpful government site for tracking down old retirement accounts and explain why Roth conversions might be worth considering. My goal is to help you take control of your financial future with clarity and confidence. You will want to hear this episode if you are interested in.... (00:00) Intro.(00:27) Overview of 401(k) Plans.(01:40) Resources and Services Offered.(02:48) Deep Dive into 401(k) Plans.(05:13) 401(k) Rollovers and Conversions.(10:53) Employer Contributions and Vesting.(19:52) 401(k) Loans and Company Stock.(22:58) Mega Backdoor Roth and Final Tips. Smart 401(k) Moves: What to Know About Matching, Vesting, and Rollovers I will explain how Roth conversions can be done while you're still working or after retirement, depending on your 401(k) plan's rules. Not all plans allow them, and some require a hefty 20% tax withholding, which could be a drawback. I also break down how employer matching works (some companies offer generous matches, others offer none, and vesting schedules determine how much of that match you actually get to keep). I stress the importance of checking your vesting status before leaving a job. Then I dive into profit-sharing, which can be even more valuable than matching, but it's never guaranteed. I clarify a common misconception: rolling over funds from an old 401(k) or IRA into your current 401(k) won't earn you a match. Finally, I talk about the pros and cons of rolling old 401(k)s into either your current plan or a rollover IRA. Personally, I favor rollover IRAs for their flexibility, investment freedom, and ease of Roth conversions. Unlocking 401(k) Opportunities and Avoiding Pitfalls I caution listeners about 401(k) loans. If you retire or get laid off, that loan must be repaid quickly, or it becomes taxable. Once you leave your employer, you can't take out new loans from your 401(k) or IRA. I also touch on company stock in your 401(k); if you have a large concentration, talk to your financial planner about a tax strategy called net unrealized appreciation (NUA), which could work in your favor. Additionally, I introduce the "mega backdoor Roth," another beneficial strategy that allows high earners to contribute beyond the standard limits if their plan permits it (up to $70,000 annually). Not all plans allow this, but it's worth asking. I also share my frustration that there's no standardized way to compare 401(k) plans across companies. The best thing you can do is request your plan summary document and review it with a fiduciary advisor. Lastly, I offer a tip: some employers let you use unused vacation or PTO payouts as 401(k) contributions, which could help reduce your tax bill. It's a smart move to look into before you retire. Resources & People Mentioned 3 Steps to Retirement PlanningFIVE 401(k) Secrets You Must KnowRetirement Savings Lost and Found Database | Employee Benefits Security Administration Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.comPodcast: https://RetireStrongFA.com/PodcastWebsite: https://RetireStrongFA.com/Follow Gregg on LinkedInFollow Gregg on FacebookFollow Gregg on YouTube Subscribe to Retirement Made Easy On Apple Podcasts, Spotify, Google Podcasts
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    32 m
  • Six Things You May be Missing in Your Retirement That Can Cost You Big, Ep 197

    Six Things You May be Missing in Your Retirement That Can Cost You Big, Ep 197
    Oct 15 2025
    Are you confident your retirement plan covers everything, or are there blind spots that could cost you down the road? In this episode of the Retirement Made Easy podcast, I reveal six commonly overlooked areas that can quietly sabotage even the most well-intentioned retirement strategy. From inflation shocks and healthcare surprises to tax missteps and market overconfidence, I'll walk you through the pitfalls I see time and again so you can learn how to avoid them. If you want a retirement that's not just comfortable but resilient, this episode is a must-listen. My goal is to walk you through these areas so you can strengthen your own plan and avoid costly mistakes. Today, I break down six critical areas that often get overlooked in retirement planning. First, I highlight the importance of preparing for large, irregular expenses. Second, I stress the impact of inflation, reminding listeners that costs will rise steadily over time and must be factored into any long-term plan. Third, I caution against assuming past investment performance will continue, urging retirees to prepare for market downturns with a solid strategy. Fourth, I explain how tax planning (especially Roth conversions) can significantly reduce your lifetime tax burden if done thoughtfully. Fifth, I dive into healthcare planning, noting that Medicare isn't free and doesn't cover everything, so understanding your coverage and out-of-pocket costs is essential. Finally, I emphasize the importance of proper beneficiary designations and asset titling to avoid probate issues and unintended consequences after death. Together, these six areas form the foundation of a resilient, well-rounded retirement plan. You will want to hear this episode if you are interested in... (00:00) Intro.(04:20) How to handle large, unexpected expenses on a fixed income.(09:25) Does your retirement plan include inflation?(13:30) Do you have realistic expectations for your investment performance?(17:02) Tax Planning is Retirement planning.(20:06) Healthcare planning impacts your retirement.(23:17) Beneficiary planning and asset titling. The Real Cost of Your Living Expenses in Retirement Many people focus on monthly bills but often overlook big-ticket items, such as a new roof, HVAC system, or vehicle. These costs don't happen every year, but when they do, they can derail your financial stability if you haven't planned. I share real examples from clients who face these challenges and emphasize the importance of building flexibility into your retirement budget to handle these inevitable expenses. Next, I highlight inflation's impact on your retirement. The pandemic shows us how quickly prices can rise. I recall replacing our water heater and seeing the cost jump 150% in less than two years. Inflation affects everything: healthcare, insurance, groceries, and dining out. Your retirement plan must include realistic inflation projections, as costs are expected to continue rising year after year. Planning for Market Pullbacks and Tax Surprises Then I turn to investment performance. Over the past decade, the stock market has performed exceptionally well, and many people assume that trend will continue. But that's not realistic. At some point, the market will pull back, and retirees need to be prepared (mentally and financially). I stress the importance of having a strategy in place before a downturn hits, so you don't panic and make decisions that hurt you long-term. Tax planning is another critical area. Your income strategy in retirement should align with your tax strategy. Roth conversions allow you to move money into accounts that grow tax-free and aren't subject to required minimum distributions. Timing and planning are everything here. Getting Healthcare and Legacy Details Right I also discuss healthcare planning, which many people misunderstand. Medicare isn't like your employer's health insurance, and it doesn't cover everything. Healthcare costs will likely be one of your biggest expenses in retirement, and you need to understand what's covered, what's not, and how to prepare for unexpected medical bills. Finally, I wrap up with beneficiary planning and asset titling. This is one of the simplest yet most overlooked parts of retirement planning. I've seen too many cases where someone passes away and their assets aren't titled correctly, or beneficiaries aren't listed. The consequences are taxes, probate fees, and emotional stress that fall on the surviving family. These are easy fixes that can make a huge difference. I urge everyone to take the time to get them right. Now that you know these six areas, you're better equipped to build a retirement plan that truly works. Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.comPodcast: https://RetireStrongFA.com/PodcastWebsite: https://RetireStrongFA.com/Follow Gregg on LinkedInFollow Gregg on FacebookFollow Gregg on YouTube Subscribe to ...
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    29 m
  • Retirement Questions You Didn't Know You Should Be Asking, Ep 196

    Retirement Questions You Didn't Know You Should Be Asking, Ep 196
    Sep 30 2025
    In this episode, I tackled some of the most common and pressing questions I've received from listeners, prospective clients, and current clients at Retire Strong Financial Advisors. These questions are all centered around one big theme: preparing for retirement with clarity and confidence. Whether you're wondering about old 401(k)s, required minimum distributions (RMDs), or how to structure your retirement income, we covered a lot of ground. One of the first things I addressed was the new government resource for tracking down forgotten retirement accounts: LostAndFound.dol.gov. If you think you might have an old 401(k) or pension from a previous employer, this secure database can help you locate it. If you're nearing retirement, it's crucial to understand how RMDs work, what your contribution limits are, and whether your plan provider supports the latest updates, such as the changes from the SECURE Act 2.0. Always check with your financial advisor or plan administrator to make sure you're making the most of your options. Social Security questions came up a lot, too. I discuss survivor benefits for ex-spouses, how to correct errors in your earnings record, and what happens if you're working while collecting benefits. If you're past full retirement age and no longer need the income, you can even suspend your benefits to earn delayed retirement credits. And if you inherit an IRA or Roth IRA, you're not stuck with your parents' financial institution, as you can transfer those assets to a custodian of your choice. Finally, I revisited the bucket strategy. This is a framework we use at our firm to help clients organize their retirement savings. Bucket One is your emergency fund, Bucket Two is your income bucket for regular withdrawals, and Bucket Three is your growth bucket for long-term investing. Matching your account types (Roth, after-tax, and pre-tax) to the right buckets is key. Understanding how much you have in each type of account is the first step. Everyone's situation is different, but the strategy gives you a roadmap to make smarter decisions and build a retirement plan that fits your life. You will want to hear this episode if you are interested in... (00:00) Intro.(03:40) How to find old retirement accounts.(11:40) Common Question on Social Security.(19:30) How to get your money out of life insurance policies.(22:50) How the Bucket system works for you. Helping Those Close to Retirement Navigate their Accounts One major topic I covered was how to track down forgotten retirement accounts like old 401(k)s or pensions, especially if you're unsure whether the funds are still active. I introduced a helpful new tool, LostAndFound.dol.gov, a secure government database created under the SECURE Act 2.0, which allows you to search for lost employer-sponsored retirement plans. I also covered the rules around required minimum distributions (RMDs), which kick in at age 73. If you're still working and contributing to your current employer's 401(k), you may be able to delay those RMDs, but IRAs don't offer that flexibility, and distributions must begin regardless of employment status. On the contribution side, I explained that in 2025, the standard 401(k) limit is $23,500, with an additional $7,500 catch-up for those 50 and older, totaling $31,000. For those aged 60 to 63, a new "super catch-up" provision allows an extra $11,250, though many plan providers haven't yet updated their systems to support it. Smart Strategies for Navigating Social Security In this episode, we also cover questions that focus on survivor benefits, earnings corrections, working while collecting, and voluntary suspension, all aimed at helping retirees make informed, strategic decisions. Another common issue is incorrect earnings records; since Social Security benefits are based on your top 35 earning years, it's crucial to fix any errors within three years, three months, and 15 days of the year the wages were paid. I also clarified that working while collecting Social Security can actually increase your benefit if those earnings replace lower years in your record. However, if you're under full retirement age and earn more than $23,400, your benefit could be temporarily reduced. Lastly, I explained that if you inherit an IRA and no longer need Social Security income, you can file a voluntary suspension to earn delayed retirement credits and potentially reduce your tax burden. What is the 3 Bucket Strategy? The 3 Bucket System is a retirement strategy that divides your savings into three categories: emergency fund, income, and growth. Bucket One holds liquid, after-tax money for unexpected expenses like medical bills or home repairs. Bucket Two provides a steady income through withdrawals from retirement accounts, often funded with pre-tax assets like IRAs and 401(k)s. Bucket Three focuses on long-term growth to combat inflation, typically using Roth accounts and investments with higher risk tolerance. Matching your ...
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    36 m
  • Do you need Life Insurance in Retirement?, Ep 195

    Do you need Life Insurance in Retirement?, Ep 195
    Sep 15 2025
    Over the past few weeks, I've had several clients and prospective clients ask me the same question: "Should I keep my life insurance in retirement?" Life insurance is something we all tend to think of as essential when we're younger (when we've got a mortgage, kids at home, maybe only one working spouse). But once you're nearing or in retirement, things change. So, the question becomes: Does it still make sense to pay for life insurance? In many cases, the answer depends on your goals and financial picture. I've seen cases where people are paying big premiums for small death benefits that won't make a meaningful impact in their overall financial plan. Life insurance is a tool. If you no longer need the tool, why keep paying for it? That said, there are still some great reasons to have life insurance in retirement. I've worked with clients who maintain policies to fulfill charitable goals. That's their retirement vision. Others use life insurance for legacy planning, making sure a tax-free benefit goes to their children, a trust, or someone they care deeply about. Life insurance can also be part of pension planning, especially for folks using pension maximization strategies to leave something behind for a surviving spouse. Now, if you've got permanent life insurance with a cash value, then you need to understand how it works. I always recommend talking to a fiduciary advisor first. These policies can be complicated, so it's worth reviewing them carefully to make sure they're still serving your needs. One thing I've seen time and again is that people misunderstand their policies. So be cautious because life insurance contracts can have all kinds of fine print. If you don't truly understand how it works, get some help reviewing it. And finally, don't lose sight of your why. Your goals should drive all your financial decisions. So ask yourself, what do you want to protect? Who do you want to help? Whether it's your spouse, your kids, your church, or your community, life insurance can be a powerful tool when used intentionally. You will want to hear this episode if you are interested in... (00:00) Intro.(03:20) Do you need life insurance in retirement?(07:38) Does it make sense to pay for life insurance? What's the cost to benefit?(09:43) Problems with life insurance.(15:03) Benefits of having a life insurance policy in retirement? Life Insurance in Retirement is Not for Everyone When people ask me whether they still need life insurance in retirement, I tell them: it depends on your goals, your financial situation, and who you're trying to protect. If you're debt-free, your house is paid off, the kids are grown and financially independent, and your retirement accounts are in good shape, then you might not need it anymore. I had a client recently ask, "Are we wasting money keeping this policy?" And for them, the answer was yes. But for others, the story's different. If you've got a mortgage, a spouse who would struggle financially without you, or anyone who relies on your income, then life insurance might still play a vital role even after you retire. Is Permanent Life Insurance Serving You? Another big topic I often see is confusion around permanent life insurance policies, whole life, universal life, variable universal life, you name it. These policies often have cash value, and many people don't fully understand how they work or what they're really worth. I've reviewed policies where the death benefit is only $10,000–$25,000, and the person is still paying high premiums. In many cases, if you're over 59½ and you want to cash out, you can access the cash value with minimal tax impact, depending on your cost basis. For example, if you've paid $30,000 into the policy and the cash value is $45,000, that $15,000 gain would be taxable as ordinary income. I always recommend speaking with a CPA or fiduciary before making a move, but the key is understanding the numbers and whether that policy is still serving you. How Your Financial Goals Direct Life Insurance Needs Lastly, don't forget your goals, your why. Life insurance isn't just about replacing income; it can be a powerful tool to help you leave a legacy. I've worked with a couple who each carry a $1 million policy with their church as the beneficiary because that was part of their retirement vision. Another client is using her policy to fund a college scholarship because a scholarship changed the course of her own life. These stories are reminders that your financial decisions should reflect your values and what matters most to you. Life insurance can still have purpose in retirement, but only if it's tied to something meaningful. As I always say: dream big, and make your money work for the life you want to live and the legacy you want to leave behind. Resources & People Mentioned 3 Steps to Retirement PlanningRetireStrong Financial Advisors | Financial Planner St Louis Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.comPodcast: https://...
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    34 m
  • Why You May Not Retire on Time, Ep 194

    Why You May Not Retire on Time, Ep 194
    Aug 29 2025

    Do you know if you'll retire on time? In this episode, I explore a question I often hear: Why do some people retire on time, confidently, and on track, while others keep pushing it off or feel like it will never happen?

    Additionally, I examine the differences in retirement experiences between men and women. Along the way, I share personal insights, stories from clients, research findings, and practical planning tips that can help you prepare for a retirement you truly enjoy.

    I share a powerful study from Harvard Business School that really stuck with me. This study shows how important it is to not only think about your goals but to write them down and make a plan to achieve them.

    When it comes to retirement, I always ask people to be as specific as possible, right down to the exact month or even day they want to retire. The more detailed you are, the more likely you are to hit those targets.

    I also talk about how retirement often looks different for men and women. Women frequently take on caregiving roles and are more likely to need long-term care themselves, making healthcare planning especially important.

    Men typically pay more for Medicare supplements, while life insurance tends to be cheaper for women. I've also noticed that women often prioritize legacy goals, while men usually have pricier hobbies. Understanding these patterns can help couples build a more balanced retirement plan.

    Another important topic I cover is the common belief that expenses and taxes drop significantly in retirement. I don't buy it. Healthcare costs, insurance premiums, and daily expenses like trash service, postage, and groceries keep going up.

    Plus, inflation varies by location, so where you live matters a lot in your retirement plan. It's important to factor in local cost-of-living differences because they can impact your budget quite a bit.

    You will want to hear this episode if you are interested in...
    • (00:00) Intro.
    • (03:30) How a specific retirement plan shows if you're on track.
    • (06:30) Insights from a Harvard study on goal setting.
    • (09:40) Differences in retirement planning for men and women.
    • (17:20) Will expenses be cheaper in retirement?
    • (24:00) our free resources to help your planning.
    Resources & People Mentioned
    • Value of 2013 dollars today | Inflation Calculator
    • 3 Steps to Retirement Planning
    • Why Some Retirement Products Can Trap Your Savings (and What to Watch For), Ep 187
    • RetireStrong Financial Advisors | Financial Planner St Louis
    Connect With Gregg Gonzalez
    • Email at: Gregg.gonzalez@lpl.com
    • Podcast: https://RetireStrongFA.com/Podcast
    • Website: https://RetireStrongFA.com/
    • Follow Gregg on LinkedIn
    • Follow Gregg on Facebook
    • Follow Gregg on YouTube


    Subscribe to Retirement Made Easy
    On Apple Podcasts, Spotify, Google Podcasts
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    29 m
  • Don't Ignore These Dangers to Your Retirement, Ep 193

    Don't Ignore These Dangers to Your Retirement, Ep 193
    Aug 15 2025

    Are you confident your retirement plan is built to last-or could there be a trap door waiting to open beneath your feet?

    In this episode, I shine a light on the hidden dangers that can derail your retirement.

    Have you ever considered what would happen if your pension were suddenly cut in half? It has happened to retirees from major companies before, and it could happen again. I delve into real-life stories of people who thought they were financially secure, only to be blindsided by risks they hadn't seen coming.

    From unexpected inflation spikes (like a 27% jump in homeowners insurance) to concentrated investment risk in company stock, I explore about a dozen real threats that could jeopardize your financial future.

    And let's not forget the myth of "guaranteed" part-time work or inheritance that didn't happen; these are shaky assumptions that can crumble when life takes an unexpected turn. Too many people are flying solo, handling their retirement plans without a "copilot", only to find themselves overwhelmed when tragedy strikes or a spouse becomes ill.

    I also caution listeners about locking up most of their savings in complex products like annuities or whole life insurance without fully understanding the rules, restrictions, or penalties. But you don't have to manage your planning alone.

    We offer free resources and a company willing to help you navigate these pitfalls. So, what's your plan if the unexpected happens? Are you prepared, or are you just hoping for the best? It's time to step back, assess your risks, and patch the cracks in your retirement foundation before it's too late.

    You will want to hear this episode if you are interested in...
    • (00:00) Intro.
    • (05:11) How a pension is a threat to your retirement.
    • (07:34) How the cost of living and inflation affect retirement.
    • (09:15) Concentrated investments like company stocks threat to your planning.
    • (12:15) What assumed incomes could be a threat to your future funds?
    • (15:34) Should life insurance policies and annuities be avoided?
    • (17:44) Are you vulnerable to key-person risk? How we can help.
    Resources & People Mentioned
    • 3 Steps to Retirement Planning
    • Why Some Retirement Products Can Trap Your Savings (and What to Watch For), Ep 187
    • RetireStrong Financial Advisors | Financial Planner St Louis
    Connect With Gregg Gonzalez
    • Email at: Gregg.gonzalez@lpl.com
    • Podcast: https://RetireStrongFA.com/Podcast
    • Website: https://RetireStrongFA.com/
    • Follow Gregg on LinkedIn
    • Follow Gregg on Facebook
    • Follow Gregg on YouTube


    Subscribe to Retirement Made Easy
    On Apple Podcasts, Spotify, Google Podcasts
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    26 m
  • Sinking Funds and Target Date Funds: What You Should Know, Ep 192

    Sinking Funds and Target Date Funds: What You Should Know, Ep 192
    Jul 31 2025

    Retirement planning isn't just about investments and Social Security; it's also about how you budget and prepare for the expenses you know are coming. In this episode, I break down two essential but often misunderstood tools: sinking funds and target date funds.

    First, I explore how sinking funds, popularized by the likes of Dave Ramsey, can help retirees avoid high-interest debt and budget for large, irregular expenses like vacations, home improvements, or even a future wedding.

    I share personal examples and stories from my clients to show how setting aside money intentionally can be a game-changer, especially in retirement.

    Then I shift gears to target date funds. They're in nearly every 401(k), but are they really the best option for you? I will explain what's "under the hood" of these cookie-cutter investment options, their pros and cons, and why one-size-fits-all may not fit your goals or risk tolerance.

    I challenge you to go beyond age-based investing and build a portfolio that reflects your unique vision for retirement. Whether you're still saving or already retired, this episode offers clear insights to help you plan smarter and spend more intentionally.

    You will want to hear this episode if you are interested in...
    • (00:00) Intro
    • (00:45) Why I love sinking funds, and how to use them.
    • (04:43) Budgeting for cars, vacations, weddings, and home repairs.
    • (10:08) The big mistake retirees make when taking lump sums.
    • (13:42) Breaking your retirement expenses into categories.
    • (17:09) Target date funds: what they are and how they work.
    • (20:32) Why not all target date funds are created equal.
    • (24:41) The real disadvantages of cookie-cutter portfolios.
    • (27:38) Why your retirement plan should reflect your personal vision.
    Resources & People Mentioned
    • BEST Retirement Withdrawal Strategy | Maximize Your Retirement Income
    • 3 Steps to Retirement Planning
    Connect With Gregg Gonzalez
    • Email at: Gregg.gonzalez@lpl.com
    • Podcast: https://RetireStrongFA.com/Podcast
    • Website: https://RetireStrongFA.com/
    • Follow Gregg on LinkedIn
    • Follow Gregg on Facebook
    • Follow Gregg on YouTube

    Subscribe to Retirement Made Easy
    On Apple Podcasts, Spotify, Google Podcasts
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    32 m