On this episode of On The Money, the retirement planners at Ruedi Wealth Management share a different perspective on retirement planning, answer listener questions, and discuss David's new e-book.
(0:51) The economy
(8:21) Don’t wait to do the things you enjoy
(24:15) Forced early retirement
“There is a good portion of people who say I will never retire and use that as a justification for spending basically every dollar they earn. The problem is, there is a decent portion of the population that gets forced into retirement for health issues or to take care of family members. Even if you wouldn’t ideally retire, there may be situations where you are forced to retire early, so you need to plan in case that possibility shows up.”
David Ruedi, CFP®, RICP®
(26:53) Caller question: Is the Federal Reserve repo rate a cause for concern?
(30:53) Ryan’s Yahoo Finance quote on expense ratios
“You can’t control the returns you get, you can’t control the sequence of returns, you can’t control the economic conditions when you invest. The one thing you can control is the funds you choose in your 401k or IRA. And if you look at the expenses of those funds, you can actually see improved returns by not choosing the more expensive funds.”
Ryan Repko, CFP®
(32:02) Listener question: How do my husband’s state pension benefit impact his Social Security?
“If you want an actual number, first get a social security statement which you can get online at Social Securities website. They have a specific calculator – a WEP (windfall elimination provision) adjusted calculator. You plug in the actual earnings from the statement, you plug in the pension benefit and it will calculate what your Social Security benefit will be.”
David Ruedi, CFP®, RICP®
(35:37) David’s retirement planning e-book
(40:59) Listener question: What is your plan for someone in their late 50’s with a labor background that hasn’t prepared for retirement?
(44:25) Ruedi Wealth Co-Pilot online investing service
“I’ve been giving financial advice in this town for 35 years and the one thing that has always bothered me is when someone walks in with $150,000 or $250,000 and we had to say sorry we can’t deal with you. It just left a really bad taste in my mouth. So we knocked our heads together to develop a platform that allows anyone with $25,000 or more to work with Ruedi Wealth Management and get advice from a CERTIFIED FINANCIAL PLANNER™ Professional”
Paul A. Ruedi