About this episode
In this episode, James emphasizes the importance of having a well-thought-out financial plan for retirement, rather than relying solely on the size of your investment portfolio. Financial security doesn't come from a specific portfolio number but from having a comprehensive plan. Using a listener's question, James walks through a step-by-step approach to assessing retirement readiness. He discusses aspects like income planning, investment strategies, tax optimization, and protection through insurance and estate planning. Shifting your mindset from a saving mentality to a spending mentality in retirement allows you to fully enjoy your savings. Learn how to determine if you'll be financially secure in retirement and how to optimize your financial resources to enhance your overall retirement experience. Questions Answered: How do you assess your retirement readiness? How can you optimize their retirement plan to enhance their overall retirement experience? Timestamps: 0:00 Intro 1:26 Listener question 4:03 The bills 6:03 Alternative strategy 10:36 The first thing we looked at 12:55 How to maximize 15:35 Your investments 18:58 Risk capacity 21:05 Deductions 23:19 Big picture consideration 25:28 Outro Create Your Custom Strategy ⬇️ Get Started Here. Join the new Root Collective HERE!