About this episode
Don and Tom tackle Americans’ retirement fears, highlighting a survey where one in five say it would take “a miracle” to retire securely. They stress the importance of planning over wishful thinking, cover the risks of recency bias, taxes, and underestimating longevity, and explain why flexibility—delaying Social Security, working part-time, downsizing, or even using a reverse mortgage—may be essential. Listener questions include a 30%+ ETF return (AVDV), the new rules allowing 529 rollovers to Roth IRAs, and a deep dive into Facet Wealth versus Northwestern Mutual, with a reminder about low-cost index investing and the value of fiduciary advice. 0:04 How confident Americans are about retirement security 1:37 “It would take a miracle” vs. “You need a plan” 2:37 The value of professional reviews and planning tools 3:52 No perfect time to retire, recency bias, and government as your “partner” 5:08 Retirement timing compared to parenthood decisions 6:06 The limits of Social Security and lifestyle realities 7:18 Adapting by working longer, delaying Social Security, or reducing expenses 8:25 Cutting wants, working part-time, or considering home equity solutions 9:23 Reverse mortgages and staged retirement strategies 10:03 Purpose, social life, and health in retirement 11:25 Listener question: international ETF with a 30%+ return (AVDV up 38% YTD) 13:02 Why diversification matters for capturing those “30 percenters” 13:22 Listener question: 529 rollovers to Roth IRAs and beneficiary changes 16:21 Listener case study: RN nearing retirement, Facet vs. Northwestern Mutual 18:07 Facet’s flat annual fee structure compared to traditional AUM fees 20:54 The pitfalls of Northwestern Mutual’s high fees and insurance roots 23:34 When to hire a fiduciary and why $1.5M+ means it’s time 25:30 Advisor costs vs. DIY investing, plus an extended “haircut analogy” 27:13 Shout-out to AI-generated Talking Real Money show art Learn more about your ad choices. Visit megaphone.fm/adchoices