Ep 87: Planning for Things We Can’t Predict

How do you plan for things you can’t predict? There are a lot of factors in life that we can’t be sure will happen, but with proper planning we can prepare for them financially. No one can predict the next market crash. However, we know it will happen eventually. When we do planning, we want your retirement to be the same, whether the market is good or bad. There’s really no way to know what healthcare will cost or look like in the future. You have to factor in healthcare in your overall retirement plan. The healthcare you are offered at your employer will look different once you are in retirement. On today’s episode, we’ll discuss four areas in financial planning where you can’t predict the future, but you can still plan for it. What we discuss: 0:52 - Wishing for warmer weather 2:44 – When will the next market crash be? 6:00 – Planning for healthcare costs 9:03 – Planning for future tax obligations 12:10 – It’s not easy to keep up with taxes 12:57 – How do you plan for longevity? 16:29 – Mailbag: “I want to retire, should I sell the building my business is in?” 18:11 – Mailbag: “My company is having a pension buyout, should I retire now?” Get additional financial information: https://principalpreservationservices.com/retirement-reality-podcast/