Episode 114: "You're Not Ready to Retire Until You Do These 3 Things"

You may feel like you're ready to retire, but are you REALLY READY to retire? In this episode, we reveal 3 critical things you must consider before retiring, so you can truly be "ready". We cover the psychology of spending in retirement, why people resist retiring, tax implications of inheritance, and answer questions about rates, early retirement, and healthcare planning. It's a show packed with information and some action plans that you need so you can retire with confidence.Chapters00:00 IntroSpending Money in Retirement02:50 Why is spending money so difficult04:05 Shifting from growth to withdrawal05:00 The fear that comes from not having a plan08:00 Action plan – what to doReasons Why People Don’t Want to Retire15:00 You love what you do19:00 Fear of boredom22:00 Don’t have enough moneyTax Implications of Inheritance29:00 The generational wealth transfer30:10 The cost of inheriting assets33:15 Rules associated with inheriting IRAs34:40 Inheritance common mistakes37:40 Action plan – what to doListener Questions39:55 When will rates go down & what to do while waiting?43:10 Considering early retirement/part-time work – what should I do?46:00 How to plan for healthcare in retirement?Ready to plan your retirement? Do you have specific questions for Tom and the team at Mosley Wealth Management? Contact us here   https://mosleywealthmanagement.com/contact/ ===================================================If you enjoy this content, please 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄! https://www.youtube.com/channel/UCPMvD3G1cZA1Kz4CKnwynhA?sub_confirmation=1=================================================== ⭐ 𝐂𝐎𝐍𝐍𝐄𝐂𝐓 𝐖𝐈𝐓𝐇 𝐔𝐒 𝐎𝐍 𝐒𝐎𝐂𝐈𝐀𝐋 𝐌𝐄𝐃𝐈𝐀⭐ - Facebook: https://www.facebook.com/mosleyeaseintoretirement- Instagram: https://www.instagram.com/easeintoretirement/- LinkedIn: https://www.linkedin.com/company/mosley-wealth-management#RetirementPlanning #RetirementRisks #RetirementBlueprint #LongevityRisk #MarketRisk #TaxPlanning #Social Security#Retirement #RetirementReady #FinanicalAdvisors #RetirementSavings #Retirement #HowtoPrepareforRetirement #RetirementTips #RetirementStrategyDISCLOSURE: Investment advisory services offered by duly registered individuals through Mosley Wealth Management, Inc. (“MWM”). MWM and Mosley Insurance and Financial Services are affiliated companies by common ownership. License # 0K76766 Investing involves risk, including the potential loss of principal. Any references to protection, safety, or lifetime income, generally referred to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength claims paying abilities of the issuing carrier. This content is intended for informational & educational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the needs of an individual situation. All hypothetical examples are provided for illustrative purposes only; they do not represent real life scenarios. Mosley Insurance & Financial Services nor its agents or representatives may not give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any investment decisions. Our firm is not affiliated with or endorsed by the US government or any governmental agency. Some of the information provided may be from one or more third parties which we believe to be reliable sources, but accuracy and completeness cannot be guaranteed by Mosley Insurance & Financial Services.For more information, visit: www.mosleywealthmanagement.com