The Right Roadmap For Retirement - Ep #88 One For The Money podcast

The Right Roadmap for Retirement - Ep #88

17d ago 11:29

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Welcome to One for the Money! In Episode 88, we explore retirement as a journey—and each important stop along the way. From your 20s through your 60s (and beyond), you’ll learn what to focus on at each stage, how to avoid costly pitfalls, and how to test-drive retirement with a mini-retirement that just might change your life.

🔑 In This Episode, You’ll Learn:

The 5 key retirement milestones: Before 50, 50, 55, 60, and 65—and what you should be doing at each one.
How to use catch-up contributions at age 50+ to turbocharge your savings.
Why age 55 offers hidden opportunities for penalty-free withdrawals and boosted HSA contributions.
The “Danger Zone” around age 60 and how to protect yourself from market volatility.
Why claiming Social Security early (at 62) may cost you big time—and how to decide when to claim.
What to know about Medicare deadlines at age 65 to avoid lifelong penalties.
The latest updates to 401(k) contribution limits and Required Minimum Distribution (RMD) ages for 2025.

🧠 Tips, Tricks & Strategies Segment: The Power of a Mini-Retirement

Taking a break between jobs? Consider a mini-retirement—a planned sabbatical where you rest, recharge, and test-drive your future lifestyle. Learn:

What a mini-retirement is (and why it’s more than just a vacation).
How mini-retirements can offer massive tax advantages (yes, really!).
Why experiencing other cultures in your 40s or 50s might beat waiting until your 70s.
How to time it right when switching jobs for minimal disruption and maximum impact.

📺 Referenced Episodes:

Episode 6: Making Retirement Meaningful
Episode 26: Mini-Retirement & Tax Benefits

📌 Key Quote:

“We don’t rise to the level of our dreams—we fall to the level of our planning.”

✅ Action Steps:

Review your financial plan at each milestone age: 50, 55, 60, 62, 65, 67, 70, and beyond.
Assess your plan using the 5 Domains: income, investments, insurance, taxes, and estate planning.
Explore the option of a mini-retirement—especially during a career transition.
Talk to a Certified Financial Planner (CFP®) to optimize your strategy.

📬 Want More?

👉 Subscribe to One for the Money on your favorite podcast platform.

👉 Ready to plan your ideal retirement? Schedule a free consultation with our team.

90 episodes