53 min
Make It Last – Ep 113 – Key Decisions You Have To Consider in Retirement & Retiring on a Shoestring Make It Last with Victor Medina - Legal & Financial Retirement Planning
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- Investing
How do you retire when you have no money? Learn some tips for retirement on a shoestring budget! Then, Victor discusses The 5 Key Decisions You Have to Consider In Retirement.
For a FREE RETIREMENT CHECKLIST, text the word CHECKLIST to 609-554-5936. Make sure you’re on the right track for retirement!
Like this episode? Leave a review and give a 5-star rating on the Apple Podcast app. As always, share with a friend!
Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and Certified Elder Law Attorney (CELA) and Certified Financial Planner professional (CFP). Through his law firm and independent registered investment advisory company, Victor provides 360º Wealth Protection Strategies for individuals in or nearing retirement.
For more information, visit Medina Law Group or Palante Wealth Advisors.
Click below for transcript!
Announcer: Welcome to “Make it Last,” helping you keep your legal ducks in a row and your nest egg secure. With your host Victor Medina, an estate planning, elder law attorney, and certified financial planner.
Victor J. Medina: Hi everybody. Welcome back to Make it Last. The only show that brings you on a journey of legal and financial retirement planning hosted by your dual fiduciary debts, me. My name is Victor Medina. I’m so glad you could join us for another fun and exciting episode. I’m really stoked for today’s show.
The first thing that I wanted to get into is, my wife sent me a really cool link about Retirement on a Shoestring. There’s so much said about having plenty of money and having it all be set aside and your setup for retirement. I was intrigued by this because it was how to retire when you have no money or very little money.
I want to walk you through that article before we get into the main topic for today’s show. Just because I think it’s good to have a different perspective.
You might be somebody that is looking to retire on a shoestring budget, and maybe has no choice about that. Maybe you just want the perspectives of knowing what the other side is doing. Maybe you’ve got good planning in place. You’ve got plenty of money. What you really need is just to see how the other side of it might look like. This is actually done by a website called nextavenue.org.
They’re tracking, first, a couple named Joan and Steve Reid. They are 67 years old, so pretty average retirement age. Maybe a little bit…I don’t want to say the words early. I’m not saying that you should always keep working till you’re 70 or older, but you know, 67 these days, not everyone is thinking about retirement at that age.
In May of 2019, they retired. They moved from a rather affluent New York City suburb to an oceanfront community of Vero Beach, Florida. I actually have some familiarity…I’m aware of Vero Beach. There’s somebody on my team here whose parents were living there for a period of time. Their goal in retiring was to retire on a shoestring budget.
By the way, it’s a goal that many new retirees share, but it’s one that’s kind of tricky to accomplish. In this case, for the Reid family, they were looking to get a slower environment. They want to be near beaches. It turns out that Vero Beach does that for them.
The neighborhoods are quiet. There’s a slower pace. People are friendly. They have careers where it is at least understandable why they didn’t have a lot of money saved.
She worked as a freelance writer and a part‑time public library clerk, so not high‑gaining areas. He is a mixed media artist, which shouldn’t be confused with the mixed martial artist because then that means he could kick your butt if you didn’t like his art.
How do you retire when you have no money? Learn some tips for retirement on a shoestring budget! Then, Victor discusses The 5 Key Decisions You Have to Consider In Retirement.
For a FREE RETIREMENT CHECKLIST, text the word CHECKLIST to 609-554-5936. Make sure you’re on the right track for retirement!
Like this episode? Leave a review and give a 5-star rating on the Apple Podcast app. As always, share with a friend!
Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and Certified Elder Law Attorney (CELA) and Certified Financial Planner professional (CFP). Through his law firm and independent registered investment advisory company, Victor provides 360º Wealth Protection Strategies for individuals in or nearing retirement.
For more information, visit Medina Law Group or Palante Wealth Advisors.
Click below for transcript!
Announcer: Welcome to “Make it Last,” helping you keep your legal ducks in a row and your nest egg secure. With your host Victor Medina, an estate planning, elder law attorney, and certified financial planner.
Victor J. Medina: Hi everybody. Welcome back to Make it Last. The only show that brings you on a journey of legal and financial retirement planning hosted by your dual fiduciary debts, me. My name is Victor Medina. I’m so glad you could join us for another fun and exciting episode. I’m really stoked for today’s show.
The first thing that I wanted to get into is, my wife sent me a really cool link about Retirement on a Shoestring. There’s so much said about having plenty of money and having it all be set aside and your setup for retirement. I was intrigued by this because it was how to retire when you have no money or very little money.
I want to walk you through that article before we get into the main topic for today’s show. Just because I think it’s good to have a different perspective.
You might be somebody that is looking to retire on a shoestring budget, and maybe has no choice about that. Maybe you just want the perspectives of knowing what the other side is doing. Maybe you’ve got good planning in place. You’ve got plenty of money. What you really need is just to see how the other side of it might look like. This is actually done by a website called nextavenue.org.
They’re tracking, first, a couple named Joan and Steve Reid. They are 67 years old, so pretty average retirement age. Maybe a little bit…I don’t want to say the words early. I’m not saying that you should always keep working till you’re 70 or older, but you know, 67 these days, not everyone is thinking about retirement at that age.
In May of 2019, they retired. They moved from a rather affluent New York City suburb to an oceanfront community of Vero Beach, Florida. I actually have some familiarity…I’m aware of Vero Beach. There’s somebody on my team here whose parents were living there for a period of time. Their goal in retiring was to retire on a shoestring budget.
By the way, it’s a goal that many new retirees share, but it’s one that’s kind of tricky to accomplish. In this case, for the Reid family, they were looking to get a slower environment. They want to be near beaches. It turns out that Vero Beach does that for them.
The neighborhoods are quiet. There’s a slower pace. People are friendly. They have careers where it is at least understandable why they didn’t have a lot of money saved.
She worked as a freelance writer and a part‑time public library clerk, so not high‑gaining areas. He is a mixed media artist, which shouldn’t be confused with the mixed martial artist because then that means he could kick your butt if you didn’t like his art.
53 min