Episode 132: "Are You Retirement Ready? Common Mistakes & Terms You Must Know Before You Retire"

Retirement is closer than you think, but are you truly prepared? In this episode, we cut to the chase and give you the straight talk on what most people get wrong as they head into retirement.We start by uncovering some of the most common and costly mistakes people make right before retiring, from underestimating the risk in bonds, to skipping long-term care planning.Then we tackle the retirement terms that confuse almost everyone. What's the real difference between a ROTH contribution and a ROTH conversion? Term life vs. whole life? Fixed vs. variable annuities? Traditional IRA vs. ROTH IRA? We explain it all in plain language - no jargon, no fluff.Whether you're 5 years out or already stepping into retirement, this episode will give you additional knowledge you need to make smarter, more confident decisions about your financial future.Chapters00:00 IntroCommon Mistakes People Make as They Near Retirement03:00 Thinking bonds have no risk04:50 Not having a long-term care plan09:50 Not protecting yourself from too much risk11:30 Assuming a product may or may not be good for you.Confusion on Retirement Terms14:45 ROTH contribution vs. ROTH conversion20:30 Term Life vs Whole Life22:30 Variable vs. Fixed Annuities27:25 Traditional IRA vs. ROTH IRA34:45 Optimal ROTH windowsListener Questions39:15 61& being offered a pension buyout44:20 What’s a responsible investment return amount?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 #Social Security #Retirement #RetirementReady #FinanicalAdvisors #RetirementSavings #Retirement #HowtoPrepareforRetirement #RetirementTips #RetirementStrategyDISCLOSURE: Advisory services offered through Mosley Wealth Management, Inc. (MWM), an investment adviser registered with the U.S. Securities & Exchange Commission. 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