Navigating an Abundant Retirement with Carol Dewey Carol Dewey

In this episode of Navigating an Abundant Retirement Radio, Carol Dewey discusses the first six myths out of twelve that can affect your retirement planning. She explores common misconceptions about wealth and retirement, illustrating how these myths can impact your financial security and freedom. Carol shares personal stories and real-world examples to emphasize the importance of comprehensive planning for a successful retirement.
Key Takeaways:Myth #1: "What Got You Here, Won't Get You There." Carol discusses the three wealth phases and emphasizes the need to adjust wealth plans as you move into retirement.Myth #2: "The Tax Code is Not Your Friend." Carol highlights how understanding the tax code can lead to significant tax reductions and even elimination.Myth #3: "Good Advice vs. Bad Advice." She shares a real-life story of how bad advice led to financial loss and family conflict, demonstrating the importance of having well-informed advisors.Myth #4: "The Financial Superstar Myth." Carol examines the unrealistic expectation that people should be experts in both their careers and wealth management.Myth #5: "The DIY or Semi-DIY Myth." She explains why acting as your own wealth advisor may not be the best approach, especially during retirement.Myth #6: "The Dear Occupant Gold Myth." Carol discusses the dangers of one-size-fits-all financial products and the need for customized wealth planning.
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Quotes:"Wealth is more than money. It's what is valuable to you, what is worth fighting to protect, and what is worth passing on.""The tax code is a roadmap to tax reduction and tax elimination. It's full of gold mines for those with advisors trained to take advantage of every tax-saving opportunity."
Timestamps:(00:16) Overview of the First Six Myths(01:17) Defining Wealth and Retirement(02:17) Myth #1: "What Got You Here, Won't Get You There"(05:41) Myth #2: "The Tax Code is Not Your Friend"(07:58) Myth #3: "Good Advice vs. Bad Advice"(11:08) Myth #4: "The Financial Superstar Myth"(14:07) Myth #5: "The DIY or Semi-DIY Myth"(15:17) Myth #6: "The Dear Occupant Gold Myth"
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Connect With Carol:Perpetual Wealth Financial WebsiteLinkedIn

In this episode of Navigating an Abundant Retirement Radio, host Carol Dewey delves into the potential impact of the 2024 presidential election on finances. Drawing on data and historical trends, Carol addresses common concerns and misconceptions about how election outcomes may affect investment portfolios and retirement plans. While acknowledging widespread anxiety among investors, Carol emphasizes the importance of staying informed, maintaining a long-term perspective, and working closely with financial professionals to navigate economic uncertainties.
Key Takeaways:
Historical data suggests that presidential election outcomes have minimal impact on market performance.Maintaining focus on long-term financial goals and strategies is crucial during periods of economic volatility.Working with a financial services professional can provide valuable guidance and perspective in navigating market fluctuations.Relying on data and historical trends rather than emotions or gut instincts can lead to more informed investment decisions.Building a diversified investment portfolio and staying patient during market fluctuations are essential for long-term financial success.
Quotes:
"Presidential elections occur every four years whether we like it or not, and the data is clear that the winner of those elections isn't going to change your portfolio much.""Building the kind of savings and retirement income you need to achieve your retirement goals comes down to trust and patience.""There's real power in relying on data and historical trends rather than your emotions or gut instincts."
Timestamps:
(01:59) Overview of election-related financial concerns
(06:05) Analysis of historical trends and market performance during election years
(08:35) Examination of investor sentiments and anxieties
(11:11) Impact of election-related anxiety on retirement planning and investment strategies
(14:44) Strategies for avoiding emotion-based investing during economic uncertainty
(17:55) Conclusion and encouragement to stay focused on long-term financial goals
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Episode Summary:
On this episode of Navigating an Abundant Retirement Radio, host Carol Dewey delves into the intricate financial concerns faced by many, including millionaires. In the Retire Abundantly series debut, she explores the evolving landscape of financial security amidst economic, financial, and political shifts, offering insights and strategies for ensuring a prosperous retirement.
Key Takeaways:
Achieving a million-dollar milestone doesn't guarantee the anticipated sense of financial security.Financial concerns extend beyond personal wealth to encompass broader economic uncertainties.Taxes, particularly IRS levies, pose significant threats to financial independence and retirement plans.Preparation and informed action are vital in navigating financial challenges and securing a fulfilling retirement.
Quotes:
"It's not just as Yogi Berra said, 'A nickel ain't worth a dime anymore.' There are an extraordinary labyrinth of new economic, financial, and political forces at work that threaten our financial security and will create winners and losers." - Carol Dewey"Income is king after-tax income. It's not what you make, it's what you keep." - Carol Dewey"What's the one thing you would surrender all of your money to keep? Whatever that answer is, be sure your Strategic Retirement Lifestyle Plan protects that." - Carol Dewey
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Visit the website here.
Connect With Carol:
WebsiteLinkedIn

In this episode of "Navigating an Abundant Retirement," host Carol Dewey dives into the crucial topic of Roth conversions. Join us as we explore whether a Roth conversion is the right financial move for your retirement strategy.
Don't miss this episode of "Navigating an Abundant Retirement" if you're looking to make informed decisions about Roth conversions and maximize the potential of your retirement savings. Tune in for expert advice and practical tips on securing a financially abundant retirement.

In this episode of Navigating Abundant Retirement radio. Carol Dewey talks about how TODAY’S ECONOMY MIGHT IMPACT YOUR RETIREMENT. If you’re retired (or close to it), you might feel overwhelmed hearing about all the things that could affect the retirement you’ve worked so hard for. So in this show, Carol will discuss how you can take charge of your retirement! We’ll cover how an appropriate retirement income strategy can help you:"

In this episode of "Navigating Abundant Retirement," your host, Carol Dewey, delves into the critical topic of how taxes can impact your retirement dreams. She challenges common misconceptions and invites you to ponder the following pivotal question:
"How Taxes Can Impact Your Retirement Dreams: The Power of When"
Carol explores the timing and strategies related to taxation during retirement, shedding light on the ways it can either enhance or hinder your retirement goals.
Conclusion:
Understanding the timing of tax-related decisions and implementing strategic tax planning can be a game-changer for your retirement. Don't underestimate the impact taxes can have on your financial future.
Continue your journey of enlightenment and education by taking these steps:
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Show Note Resources:
2023 Retirement and Savings Guide2023 Taxation Guide
Stay tuned for more valuable insights and strategies to make the most of your retirement dreams. See you next time on "Navigating Abundant Retirement" with Carol Dewey!