Other Retirement Facts:

If you’re still paying off your mortgage, you might think that at least it’s tax deductible. Is that a good enough reason to have the debt? What other ways can you get the tax deduction? What about your investments funds? Is it okay if it isn’t performing well but the fees are low? 

When you get to retirement and are unable to pay for medical care, is Medicaid the good news? Remember that this isn’t a scenario you want to plan towards. For Medicaid to pay, you’ll have to really be down to almost nothing other than your car and house. Why not give your money away so that Medicaid kicks in? What kind of situation will you find yourself in then?

The market is known for its volatility, but the good news is, following a loss it usually comes back eventually. But if you’re within a few years of retirement, how long it takes to recover can make a big difference. There’s a balancing act to be able to handle whatever comes your way. Do you have a good plan that sets you up for success while still keeping in mind potential harsh realities ahead?

Whether you are in the middle of some bad news or some good news, it’s usually not all bad or all good. Talking with an advisor can help sort through the good and the bad in your financial life.

Listen to the entire episode or click on the timestamps below to skip ahead to a particular good news/bad news situation.

0:40 – Do you want the good news or the bad news?

1:28 – Bad news is you have debt, the good news is the interest is tax-deductible?

3:40 – The fund isn’t performing well…but the fees are low.

5:09 – Bad news: you don’t have enough money to pay for medical care, but there’s Medicaid.

7:49 – Social Security is running out of money, will it get fixed?

11:42 – The good news with the market is that a loss usually comes back eventually.

Thanks for listening! We’ll be back with another episode next week.

A Quotable Moment:

“With government spending and everything else that’s happening, at some point we will see inflation kick in and we have to make sure we have a hedge against that.”

-Phil Putney