Finding Passion & Purpose in Retirement
Ready To Retire!
Retirement isn’t the end—it’s the beginning of a new adventure! In this episode, we explore how to bring passion and purpose into your next chapter. Learn six practical tips to stay engaged, turn interests into meaningful activities, and create a fulfilling retirement on your terms. Whether you're nearing retirement or already there, these strategies will help you design a life you love. Here’s what we’ll cover: ✅ Exploring new passions and interests ✅ Starting small to avoid feeling overwhelmed ✅ Turning hobbies into meaningful...
info_outline
Smart Budgeting for Retirees
Ready To Retire!
Budgeting for retirement doesn’t have to feel overwhelming! In this episode of Ready to Retire!, I’m sharing practical strategies to help you manage your income in retirement—without sacrificing the lifestyle you’ve worked so hard to build. Many retirees worry about living on a “fixed income,” but I encourage you to think of it as a flexible income stream instead. We’ll talk about how to structure your income sources, account for inflation, and plan for unexpected expenses while still having room for travel, hobbies, and fun. Here’s what we’ll cover: ✔️ Why budgeting in...
info_outline
Easing Sibling Tensions when Settling Your Parents Trust
Ready To Retire!
Losing both parents is a challenging time, and managing the family estate as the successor trustee can feel overwhelming—especially when sibling tensions arise. In this episode, Danette shares a step-by-step guide to settling an estate, from obtaining death certificates to distributing assets, and offers five practical strategies to ease sibling conflicts. With tips on fostering collaboration, maintaining open communication, and setting boundaries, this episode is designed to help preserve family relationships during a difficult process. Check the show notes for helpful checklists and...
info_outline
5 Fun Ways to Boost Your Pre-Retirement Income
Ready To Retire!
Are you looking for fresh ways to boost your income before retirement? In this episode, we explore five fun, practical ways to add to your cash flow without taking on the weight of a second job. Whether you’re saving to retire early, dreaming of shifting into a passion project, or just want a bit more financial freedom, these tips can help you get there in a way that aligns with your current lifestyle… NEW RELEASE: THE EARLY START RETIREMENT PLAN Visit Take the Retirement Readiness Quiz! Start YOUR FREE Financial Plan Today: Now available – FREE ACCESS – to a Financial Planning...
info_outline
How to Calculate Needs in Retirement for Couples and 5 Key Savings Strategies
Ready To Retire!
Today we dive into the crucial topic of retirement planning for married couples. With the challenge of harmonizing two different perspectives on retirement, this episode offers valuable strategies to increase savings and ensure a comfortable retirement… Click here to Download Your FREE “3 Steps” to Plan an Epic Retirement Worksheet: What’s included: 3 Steps to Planning an EPIC Retirement Step 1: How will You Spend Your Time? Step 2: Identify Your Income & Expenses Step 3: Putting it all Together Start YOUR FREE Financial Plan Today: Now...
info_outline
Tax-Free or Tax-Deferred? Roth vs. Traditional IRA, Which is Better? | Ep 28
Ready To Retire!
Traditional IRA vs. Roth IRA – Which one is better? In this episode, Danette explores the decision between investing in a Traditional IRA, which offers immediate tax deductions but taxes gains upon withdrawal, and a Roth IRA, which doesn't provide tax deductions on contributions, but offers tax-free gains. Click here to Download Your FREE “3 Steps” to Plan an Epic Retirement Worksheet: What’s included: 3 Steps to Planning an EPIC Retirement Step 1: How will You Spend Your Time? Step 2: Identify Your Income & Expenses Step 3: Putting it all Together...
info_outline
Ways to Reduce the Financial Stress of 5 Major Life Transitions
Ready To Retire!
In this episode, we explore practical strategies to alleviate the financial strain that often accompanies five major life transitions: Relocating to new places Navigating career or job changes Managing finances through relationship shifts Coping with unexpected health events Finding stability during times of loss or grief. Tune in to discover expert insights and actionable tips for achieving financial peace of mind during these pivotal moments in life. Start YOUR FREE Financial Plan Today: Now available – FREE ACCESS – to a Financial Planning Tool: Click here: Connect with...
info_outline
10 Simple Tactics to Grow Your WEALTH in Your Free Time
Ready To Retire!
Don't miss out on these easy steps that can make a big difference in your financial journey. Uncover practical strategies, in our 1 YEAR Anniversary Episode, that can boost your wealth while fitting into your busy schedule. The episode explores hidden wealth-building gems to help you achieve prosperity. Click here to Download Your FREE “3 Steps” to Plan an Epic Retirement Worksheet: What’s included: 3 Steps to Planning an EPIC Retirement Step 1: How will You Spend Your Time? Step 2: Identify Your Income & Expenses Step 3: Putting it all Together...
info_outline
Reducing Investment Risks: Inflation, Interest Rates, Overspending & 8 Retirement Protection Strategies
Ready To Retire!
In this exciting episode, we'll be delving deep into the risks of long-term investing and equipping you with eight powerful strategies to reduce them. Click here to Download Your FREE “3 Steps” to Plan an Epic Retirement Worksheet: What’s included: 3 Steps to Planning an EPIC Retirement Step 1: How will You Spend Your Time? Step 2: Identify Your Income & Expenses Step 3: Putting it all Together Start YOUR FREE Financial Plan Today: Now available – FREE ACCESS – to a Financial Planning Tool: Click here: Connect with Danette...
info_outline
Before You Cash In: 6 Essential Tips to Maximize Your Social Security Benefits
Ready To Retire!
In this episode of the Ready to Retire! podcast, host Danette Lowe CFP®, shares crucial tips to maximize your Social Security benefits and ensure a financially secure retirement. Click here to Download Your FREE “3 Steps” to Plan an Epic Retirement Worksheet: What’s included: 3 Steps to Planning an EPIC Retirement Step 1: How will You Spend Your Time? Step 2: Identify Your Income & Expenses Step 3: Putting it all Together Start YOUR FREE Financial Plan Today: Now available – FREE ACCESS – to a Financial Planning Tool: Click...
info_outlineThere is no one-size-fits-all answer to the popular question of whether or not to pay off your mortgage.
Instead, it’s helpful to get clear on what makes the most sense for your current and future life by considering your goals, values, wishes, and desires, and where you want to be in the next 5, 10, or even 50 years.
In this episode, I offer an easy framework to address your mortgage questions as well as possible solutions if you want to pay off your mortgage early.
Click here to Download Your FREE “3 Steps” to Plan an Epic Retirement Worksheet: https://www.trunorthwealth.com/newsletter-signup
What’s included: 3 Steps to Planning an EPIC Retirement
Step 1: How will You Spend Your Time?
Step 2: Identify Your Income & Expenses
Step 3: Putting it all Together
Start YOUR FREE Financial Plan Today:
Now available – FREE ACCESS – to a Financial Planning Tool:
Click here: https://bit.ly/GetFinancialPlan
Connect with Danette Lowe, CFP®
https://linktr.ee/trunorthwealth
Visit Our Website: https://www.TruNorthWealth.com
Episode Summary:
Framework of Mortgage Considerations:
1. How long are you planning on living in the house?
2. What is your current income level and how easy is it for you to make payments?
3. How much have you accumulated in your after-tax savings accounts and/or have you received a large lump sum?
4. Where are you with transportation payments?
5. What does your mortgage look like right now?
Three Ways You Can Pay Off Your Mortgage Early:
6. Downsize—Use equity from selling your current home to buy a smaller home or a home in a less expensive neighborhood.
7. Make additional monthly principal payments—Talk to your bank or use an online calculator to figure out how much you should pay each month to pay off your mortgage early.
8. Use a lump sum from an inheritance or sale of an asset to pay off the balance—Do so with caution and understand the possible tax consequences.
I hope this framework and potential pay-off strategies make mortgage decisions less complicated as you determine what’s best for your personal goals.
In this episode, you’ll also hear:
● Saving for an adventure fund vs. rainy day fund
● When it might make sense to pay off your mortgage
● The power of getting clear on your financial goals
Must-listen moments:
[00:11:55] Once you have an excess amount in your adventure fund, then you can spend it on something really fun and really exciting. We like to recommend having at least six months of net spending if you are single or in a single-income family, and three months of net spending if you're in a dual-income family.
[00:22:14] I still feel strongly that you're better off to pay off, to use those funds, to pay off your mortgage…You can sleep in your house, but you can't sleep in your brokerage statement.
[00:23:50] There's absolutely nothing wrong with having a mortgage payment when you retire, especially for those people who have a majority of their retirement funds tied up in tax-deferred vehicles like 401ks or IRAs.
Follow Us on Facebook:
https://www.facebook.com/TruNorthRetirementPlanning
About Danette: https://tinyurl.com/28pg94tt/
Professional Journey- As the President and a CERTIFIED FINANCIAL PLANNER™ professional at TruNorth Wealth Management, LLC, I've found my calling in helping pre-retirees confidently navigate the crucial decision of retirement. Our team is dedicated to guiding family-oriented couples from being net savers to net spenders. We invite you to join our extended family and experience the TruNorth Wealth difference.
Founder – Wealth Advisor
TruNorth Wealth Management, LLC
1662 HWY 395 N, Suite 203, Minden, NV 89423
Connect with Danette @ https://linktr.ee/trunorthwealth
This podcast is for informational purposes only. The situations used herein do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed, and a financial advisor should be consulted for your specific situation. Neither Commonwealth Financial Network nor your representative provides tax advice.
Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser.