RL Wealth Educates - The Blog of Rubino & Liang Wealth Partners

12 Questions From Our Listeners (and Our Answers!)

Apr 28, 2019 4:00:00 AM / by RL Wealth Partners

This week's episode of Just Don't Lose The Money Radio was dedicated toward answering questions that listeners submitted online. Listen to the podcast to hear Sam discuss questions such as:

1 - What Are The Pros/Cons of Starting Social Security Withdrawals Before Full Retirement Age?
(2:12 mark)

2 - I am about to turn 66. Would like to retire, but my wife is 59 and diabetic. If I retire, I gain Medicare, but she has to go on some sort of medical insurance. We need to look at medical coverage, and I'm not sure where to begin. What are my options?
(5:55 mark)

3 - I am retiring this year and planned on withdrawing my 401k money based on "the 4% rule", I recently read that it is safer to withdraw 3%. How do I know how to safely withdraw money?
(8:30 mark)

4 - What is the best way to protect my assets if I have to go in to a nursing home?*
(12:10 mark)

5 - I have an old will from when I first got married, do I need to update it if nothing has changed?*
(17:20 mark)

6 - Can you explain the difference between an index mutual fund and a fixed indexed annuity?*
(20:00 mark)

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How Retirement Strategies Should Change As You Age

Feb 8, 2019 3:00:00 PM / by RL Wealth Partners

Everyone should have a strategy for meeting their goals in retirement, but retirement can last for decades; you should adjust your strategy periodically depending on where you are. We are taught that we need to grow our investments to the biggest number possible, but when is that number sufficient enough to provide for your unique retirement goals?

Let’s look at how retirement strategies might change throughout life phases.

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5 Must-Read Books on Retirement Planning

May 22, 2018 1:06:34 PM / by Sam Liang

Whether you are just starting to think about retirement, or you are in retirement already, you have only two jobs:

The first is to make sure you don’t lose what you have. Chances are, if you’re in your 50s or 60s, you now have the most money you’ve ever had in your life. So, you don’t want to lose it and go backwards, or even worse, have to start over.

The second job you have is to make sure your savings last for the rest of your life. When you are working, you get a paycheck. When you stop working, your savings becomes your paycheck.  It’s both a blessing and a problem that people are living much longer today. We watch what we eat, exercise more, and with the help of modern medicine, we can live well into our 90s. 

My parents lived to age 97 and 95. That’s the blessing. The problem is that now our savings have to last just as long as we do! So, if you retire at age 65, there’s a better than average chance that your savings will need to last 25 years or longer. Think back 25 years ago – would the amount of money you had then last for the rest of your life? Most likely not.

To help you to prepare and become educated for retirement, I suggest you take a look at the following five books. They’ll help you better understand what challenges may lie ahead, and what you can do to add some peace of mind to your retirement decisions.

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