The Income For Life Show Income For Life

Many of us are familiar with how a water wheel works. A constant stream of running water keeps the wheel turning so it can do the work it’s supposed to accomplish (whether turning millstones to grind grain in the 19th century or turning turbines to create hydroelectricity in today’s world). If the stream of water stops running, the wheel stops turning. So, how does a water wheel relate to retirement planning? We’ll tell you how in today’s episode.
As always, we’ll kick off the show with some getting-to-know-Matt and Sam questions and share some great quotes of the week relating to retirement planning. This week, we’ll also discuss one of our retirement manual series, The Retirement Playbook: Lessons From The Retirement All-Stars.
For this week’s mailbag question, Lenny from Omaha asks whether it would be advisable to withdraw approximately $90,000 from his IRA to purchase a townhouse for rental income. For this week’s Retirement Ride Along segment, Matt and Sam talk about their recent trip to Parkville, Missouri.
 
Here’s some of what we discuss in this episode:
Get-to-know-you questions: The best thing about being an adult, closet doors, and more. (5:06) Quote of the week from Ben Franklin and Jim Rohn (22:48) Lessons From the Retirement All-Stars (24:37) Main topic: Understanding Retirement Through the Water Wheel (30:20) Mailbag: “Would it be a bad idea to withdraw approximately $90,000 from my IRA to purchase a townhouse for rental income?” (43:10) Retirement Ride Along: An afternoon in the beautiful Parkville, Missouri (52:28)  
Want to contact us? 
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
 
Get your free copy of Preparing for Retirement: 
Call (888) 228-8814 or email info@incomeforlife.org
 
Links From Today’s Show:
The National Golf Club:
https://www.invitedclubs.com/clubs/the-national-golf-club
The Craic:
https://craiconmain.com/

March Madness is upon us, and as you’re keeping an eye on your bracket and watching the Final Four this weekend, there are a few retirement planning lessons that you can learn along the way… Stay tuned as we take some March Madness terms any apply them to the financial planning world in today’s show.
As usual, we have some fun getting-to-know-you questions lined up for you. Then, we have a fantastic quote of the week to share by Ken Poirot. We’ll also spend some time looking at a MarketWatch article about the increasing retirement savings target in the United States.
For this week’s mailbag question, Darrell from San Antonio asks if it would be better to keep working and receive a pension or retire now with a severance package and pension buyout. For this week’s Retirement Ride Along segment, we’re sharing some of our favorite spots in Copeland, Kansas.
 
Here’s some of what we discuss in this episode:
Get-to-know-you questions: Getting ready in the morning, unusual foods, fashion trends (7:31) Quote of the week from Ken Poirot (24:28) MarketWatch Article: How Much Will You Need To Retire? America’s Magic Number Surges to $1.46 Million (25:30) Main topic: Retirement Bracketology (35:45) Mailbag: Should I keep working 5-6 years and receive a pension or retire now and accept a severance package and pension buyout? (46:08) Retirement Ride Along: Going back to Matt’s hometown (51:44)  
Want to contact us? 
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
 
Get your free copy of Preparing for Retirement: 
Call (888) 228-8814 or email info@incomeforlife.org
 
Links From Today’s Show:
MarketWatch Article:
https://www.marketwatch.com/amp/story/how-much-will-you-need-to-retire-americas-magic-number-surges-to-1-46-million-cbbfe7f4
The sister’s boutique
https://www.facebook.com/groups/thesistersboutique143/
Copeland Café
https://www.facebook.com/profile.php?id=100057264107213
Goodtimes Grill
https://www.facebook.com/p/Goodtimes-Grill-100057637951397/
 
 

Are you planning for your retirement with the confidence that you're making all the right moves? In today's episode, we'll unveil the crucial income planning mistakes that could jeopardize your retirement and show you how to craft a financial plan that's built to last decades, not just years. Tune in to ensure your retirement strategy is foolproof against common pitfalls and ready to secure your financial future.
After a brief hiatus due to Matt being sick, we are excited to be back! We’ll kick off this episode with some excellent getting-to-know-you questions before jumping into our quotes of the week. For this week’s mailbag question, Annie asks whether it's better to take an extra $20,000 out of her IRA or to take out a home equity loan to cover the cost of putting in a screened-in porch.
For this week’s Retirement Ride Along segment, we chat about our recent trip to Sonoma and Napa Valley in California.
 
Here’s some of what we discuss in this episode:
Catching up after a brief hiatus (1:36)  Get-to-know-you questions: Watching movies, favorite Halloween costume, favorite grade in school (13:02) Quote of the week: Proverbs and Abraham Lincoln (27:36) Main topic: Top 5 income planning mistakes that could jeopardize your retirement (29:04) Mailbag: “I want to put in a screened-in porch, but the only way I could pay for it would either be taking an extra 20,000 out of my IRA this year or taking out a home equity loan to cover it. Which is better?” (41:22) Retirement Ride Along: Visting the wine country of America (47:06)  
Want to contact us? 
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
Get your free copy of Preparing for Retirement: 
Call (888) 228-8814 or email info@incomeforlife.org
 
Links From Today’s Show:
Fairmont Sonoma Mission Inn & Spa
https://www.fairmont.com/sonoma/
Highway 12 Vineyards and Winery
https://www.highway12winery.com/
Zina Hyde Cunningham
https://www.zinawinery.com/
Viansa
https://www.viansa.com/
Benziger Family Winery
https://www.benziger.com/
The Donum Estate
https://www.thedonumestate.com/
Ram’s Gate Winery
https://ramsgatewinery.com/
El Dorado Hotel & Kitchen
https://eldoradosonoma.com/
Tammy the Private Driver
Email: tammyleonis@gmail.com
Vineyard 29
https://vineyard29.com/
Vineyard Seven and Eight
https://www.vineyard7and8.com/
Folklore
https://folklore-napa.com/
Vermeil Wines
https://www.vermeilwines.com/
Blue Note Jazz
https://www.bluenotejazz.com/napa/
Demola the Violinist
https://www.demolatheviolinist.com/
LaToque
https://latoque.com/
Promontory
https://www.promontory.wine/

Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning. Let’s talk about why on today’s episode.
We have three fun getting-to-know-you questions to kick off this week’s show before sharing our quotes of the week. For this week’s mailbag question, Rose from Michigan asks how to stop getting stuck in a cycle of indecision when it comes to financial planning. For this week’s Retirement Ride Along segment, we share more about our trip to Rochester, Minnesota over Christmas.
 
Here’s some of what we discuss in this episode:
Get-to-know-you questions: Products we can’t live without, favorite snack at the movies, fictional characters (3:57) Quote of the week from Ken Poirot (15:34) Main topic: Retirement planning is harder than it used to be (19:17) Mailbag: “Every time I need to make a financial decision, I just end up talking myself in circles. How do I stop talking in a circle and never making a decision?” (37:29) Retirement Ride Along: A Christmas trip to Rochester, Minnesota (43:41)  
Want to contact us? 
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
 
Get your free copy of Preparing for Retirement: 
Call (888) 228-8814 or email info@incomeforlife.org
 
Links From Today’s Show:
Hotel Fort Des Moines
https://www.hotelfortdesmoines.com/
 
Hilton Rochester Mayo Clinic Area
https://www.hilton.com/en/hotels/rstmahh-hilton-rochester-mayo-clinic-area/
 
Sugar Factory Express
https://www.mallofamerica.com/directory/sugar-factory-express
 
FlyOver America
https://www.mallofamerica.com/directory/flyover-america
 
Hollandberry Pannekoeken
https://www.hollandberrypannekoeken.com/
 

Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit when you should really consider the delayed rewards…
We’re excited to be back with you as we kick off the 2024 season of the podcast! As usual, we’ll answer some fun getting-to-know-you questions and share a few great quotes to start the show. Along with our discussion on delayed gratification in financial planning, we’ll also take a look at an interesting article from Barron’s, titled, “Americans’ Retirement Thinking Is Stuck In The Past.”
For this week’s mailbag question, Howard from Vermont asks if he should start taking Social Security earlier than planned because of an unexpected health diagnosis. For this week’s Retirement Ride Along segment, we’ll talk about the trip to New York that Matt surprised Sam with for New Year’s Eve.  
 
Here’s some of what we discuss in this episode:
Reflecting on the last few months and traveling over the holidays (4:24) Get-to-know-you questions: Small things, time travel, favorite ages, and more! (7:45) Quotes of the week from John Jacob Astor and Chris Brogan (21:35) Barron Article: “Americans’ Retirement Thinking Is Stuck In The Past. How To Fix It.” (23:20) Main topic: The Power of Delayed Gratification (34:34) Mailbag: “I just received a medical diagnosis that will almost certainly shorten my life. I had planned to wait until 70 to start taking Social Security, but now I think I should start it now. Do you agree?” (49:40) Retirement Ride Along: A surprise trip to New York for New Year’s Eve (54:38)  
Want to contact us? 
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
 
Get your free copy of Preparing for Retirement: 
Call (888) 228-8814 or email info@incomeforlife.org
 
Links From Today’s Show:
Barron’s Article
https://www.barrons.com/articles/retirement-savings-social-security-pensions-cd9d916d
Robert NYC                                                                                      
https://robertnyc.com/
Superfine Restaurant
https://www.superfine.nyc/
Sparks Steak House
https://sparkssteakhouse.com/
Blue Note New York
https://www.bluenotejazz.com/nyc/

“Learn from the mistakes of others. You can’t live long enough to make them all yourself.” – Eleanor Roosevelt... Ever wish you could foresee financial missteps before they happen? In today’s episode, explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you.
We kick off this episode with some fun getting to know you questions. Then, we’ll share a great quote of the week by Jim Rohn. We also dive into a fantastic MarketWatch article about the current Social Security crisis.
For this week’s mailbag question, Jennifer from Scottsdale, Arizona asks if it’s a good idea to invest the leftover cash from a home sale and take on a new mortgage. For this week’s Retirement Ride Along segment, Matt and Sam talk about their six-day trip to Las Vegas.
 
Here’s some of what we discuss in this episode:
Christmas shopping and a $13 coffee (9:45) Get-to-know-you questions: Gardening, weird places to sleep, hitting snooze (15:58) Quote of the week from Jim Rohn (23:20) MarketWatch Article: The Social Security crisis is a bipartisan outrage — and it’s way worse than Lehman Brothers (24:10) Money mistakes you’ll regret and how to avoid them (39:17) Mailbag: "We're planning to downsize within the next year. When interest rates were lower, we were thinking of getting a mortgage and investing the leftover cash from our current home. Is that strategy no longer recommended?" (50:58) Retirement Ride Along: Matt and Sam’s six-day trip to Vegas (56:51)  
Want to contact us? 
Call 888-228-8814 or visit us online at https://incomeforlife.org and check out Folds of Honor at https://foldsofhonor.org to support their mission.
 
Links From Today’s Show:
MarketWatch Article
https://www.marketwatch.com/story/the-social-security-crisis-is-a-bipartisan-outrage-and-its-way-worse-than-lehman-brothers-e18ee73e#:~:text=This%20is%20a%20massive%2C%20bipartisan,avoided%2C%20and%20should%20have%20been.
 
TAO Asian Bistro
https://taogroup.com/venues/tao-asian-bistro-las-vegas/
 
CUT by Wolfgang Puck
https://wolfgangpuck.com/restaurants/cut-las-vegas/
 
Delmonico Steakhouse
https://emerilsrestaurants.com/delmonico-steakhouse/
 
Prime Las Vegas
https://bellagio.mgmresorts.com/en/restaurants/prime-steakhouse.html
 
Adrenaline Mountain
https://www.adrenalinemountain.com/
 
The X Pot
https://thexpot.com/
 
Sphere
https://www.thespherevegas.com/