129: Modular Financial Planning 07: Saving and Investing for Retirement

In this episode of Mindful Money, we explore strategies for retirement planning. We’ll dive into the critical topics of saving, investing, retirement income, retirement age, Social Security, living arrangements, and more. We’ll also discuss investment strategies like maintaining a low withdrawal rate, diversification, and having a balanced portfolio, as well as practical advice on retirement accounts like 401(k)s and IRAs, and asset allocation. The goal is to help you make mindful financial decisions to ensure a secure retirement and build a lasting legacy.

In this episode:

• (00:00) - Intro
• (01:15) - Defining financial independence
• (02:15) - Variables in retirement planning
• (03:07) - Social Security and healthcare considerations
• (04:27) - The need for early retirement planning
• (07:15) - Mind the gap: calculating retirement needs
• (08:56) - Withdrawal rates and portfolio management
• (10:49) - Creating a legacy and setting savings goals
• (11:45) - Choosing the right retirement account
• (12:04) - Employer-sponsored plans and IRAs
• (14:46) - Investment basics and compounding
• (15:56) - Types of investments: owners vs. loaners
• (18:40) - Building a diversified portfolio

Get full show notes and links at https://mindful.money. 

Watch the episode on YouTube: https://www.youtube.com/@MindfulMoney.