Navigating the Key Financial Milestones of Your Retirement Journey
Release Date: 03/22/2023
Finding Passion & Purpose in Retirement
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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...
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Smart Budgeting for Retirees
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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...
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Easing Sibling Tensions when Settling Your Parents Trust
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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...
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5 Fun Ways to Boost Your Pre-Retirement Income
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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...
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How to Calculate Needs in Retirement for Couples and 5 Key Savings Strategies
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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...
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Tax-Free or Tax-Deferred? Roth vs. Traditional IRA, Which is Better? | Ep 28
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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...
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Ways to Reduce the Financial Stress of 5 Major Life Transitions
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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...
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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...
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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...
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Before You Cash In: 6 Essential Tips to Maximize Your Social Security Benefits
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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_outlineWhere are you in your financial journey? Whether you’re just starting to save for retirement or already have your retirement party scheduled, take some time to review how to make the most of where you are right now to avoid future problems.
In this episode, I outline four important phases of your financial journey and how to prepare for retirement in each step.
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:
1-Savvy Saver: People who are getting ready to save for retirement, who may not even be thinking about retirement, typically under the age of 50 years old.
1. Establish an “adventure fund” for unexpected expenses.
2. Start saving early.
3. Eliminate credit card debt if possible.
2-Ready to Retire: People between the age of 50 and 65. This is the phase where you start to think about, have I done enough? Am I ready to retire? What will that look like when it happens?
4. Seek the advice of a financial planner
5. Finish paying off your debt.
6. Review all insurance policies.
7. Develop retirement income.
3-Loving Legacy: This phase is when you've retired and you’re able to meet your cash flow needs. Everything's going well, and the key focus at this time of your life is things like estate planning.
8. Regularly review your will and trust.
9. Review and update beneficiary information.
10. Enjoy your retirement!
11. Be social and vary your daily activities.
4-Life Quakes: A life quake can happen to us at any time in our lives, during any one of the phases. A life quake is when an unexpected event occurs like a death in the family, loss of job, or a crisis like the recent pandemic.
I hope learning about these phases helps determine next steps for your financial journey.
In this episode, you’ll also hear:
• Advice for saving 3-6 months of your net income
• Tips for developing a retirement income plan
• Letting go of scarcity mentality and enjoying retirement
Must-listen moments:
[00:07:44] If you're a Savvy Saver, this is the most important time to develop good financial habits. Getting regular habits in place, like regularly contributing to a 401k will go a long way towards making your long-term goals achievable and your long-term retirement plans successful.
[00:17:24] Whether you work with a financial advisor or not, you need to have a retirement income plan. You can use some online tools that are available, but you want to map out how much income you have coming in, how much outflow you have going out.
[00:25:18] Sometimes we have a scarcity mentality…that's something to be aware of, that it's okay to spend some of that money that you have spent your life accumulating during your lifetime.
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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.