Financial Symmetry: Balancing Today with Retirement Chad Smith, CFP® and Mike Eklund, CFP®

One of the retirement questions that persists through the ages is whether to take a pension or a lump sum payment. On this episode, we flesh out an example from baseball: Did Bobby Bonilla Day make the right decision back in 1999 to take $1.2 million per year instead of a $5.9 million lump sum payment?
Seeing this example play out over time can help you make your own pension vs. lump sum choice. Listen to find out whether Bobby hit a home run with his financial decision. 
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Show Notes The Retirement Podcast Network  

What if you had a magic app that told you how much of your net worth you never got to spend at the end of your retirement?
The trouble with planning for retirement is all the uncertainty, however, proper planning can help. In this episode, Cameron Hendricks joins me to discuss how you can learn to spend more in retirement. 
Outline of This Episode [0:50] We need to talk about your retirement spending [1:55] What if you had an app that told you how much of your net worth you never got to spend? [10:25] Why it’s important to have a retirement withdrawal strategy [18:55] Our takeaways Resources & People Mentioned Show Notes The Retirement Podcast Network We need to talk about your retirement spending  
 

Have you considered how your instincts influence your decision-making around retirement planning?
Our natural instincts and biases create frameworks that lead our perspectives on how we think the world works. 
These frameworks influence our decisions surrounding our financial decisions. 
On this episode of Financial Symmetry, we discuss how to build prosperity by analyzinging and identifying your perspective. Listen in to learn 10 instincts identified by the book Factfulness and what you can do to combat the biases they lead to. 
Outline of This Episode [0:50] Our article of the week [1:58] Your instincts influence your decision making [5:41] Why are we worried about the current situation? [7:13] Combatting the gap instinct [10:36] The negativity instinct [16:10] The fear instinct [10:18] Size matters [23:56] The generalizing instinct [26:10] Destiny instinct [29:23] Who’s to blame? [31:05] The urgency instinct Resources & People Mentioned Show Notes The Retirement Podcast Network Gapminder BOOK - Factfulness by Hans Rosling Episode 209 - 5 Reasons to Consider Investing in More Than the S&P 500 BOOK - Making Numbers Count by Chip Heath BOOK - Super Communicators by Charles Duhigg  

Today we’re diving in to a specific path that many retirees consider as they move away from the “corporate” world and enter their second act – which is starting a business.
With increased life expectancy, cost of living increases and a desire for continued fulfillment, many retirees are excited to begin a new experiment in an area they are passionate about.
Some surveys show the proportion of people starting businesses at ages 55 to 65 has increased in recent years and, at one point, even surpassed the typical entrepreneur age group of 25- to 35-year-olds.
So today we’re speaking to those currently operating sole proprietorships and single-member LLCs OR those considering starting their own business. We’re going to shine the light on the S Corp business type and provide some details on why this could be an opportunity to explore.
Outline of This Episode [0:55] How to know when you have enough [2:09] Starting a business in retirement [6:02] Why it's important to understand what an S-corp is  [10:10] An example  [14:54] The downside of the S-corp ****
📬 Get our Retire On Purpose Guide here. 
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Now that you have made it through the retirement danger zone, you have made it to the Arrivement phase of retirement. You may be wondering, what are my next steps?
This season can be full of opportunities and connection with those you care about. At this point in your life journey, you may face some difficult decisions around relocating or how best to spend or give the wealth you've worked hard to accumulate.
Listen in to hear about the financial and tax moves that we see most commonly used during the middle years of your retirement.
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Have you thought about retiring abroad?
Oftentimes when we think of retirement, we think about sunny beaches with crystalline water shimmering in the sunshine. Could this or some other idyllic vision be your future? 
The realities of retiring abroad can be exciting, but at the same time overwhelming. Complex financial strategies need to be considered before grabbing your passport and setting off for the unknown. 
In this episode, we discuss seven crucial financial considerations that you’ll need to keep in mind if you are interested in retiring abroad.
Outline of This Episode [0:36] Overcoming frugality in retirement [2:15] More people are retiring abroad [3:44] Put together a blueprint of what life will look like for you [5:00] Dealing with finances [6:53] Dealing with taxes [8:40] Dealing with investments [10:32] Dealing with real estate [12:24] Dealing with healthcare [13:41] Dealing with estate issues ****
📬 Get our Retire On Purpose Guide here. 
📰 See the full show notes here
🌐 Explore the Retirement Podcast Network here