Dan and Katelyn discuss how to build a resilient retirement plan in uncertain times and how to determine how much savings is truly enough, covering income planning, spending needs, and strategies to align retirement resources with long-term goals.
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Dan discusses how to plan for retirement amid uncertainty, emphasizing the need to build a reliable financial structure starting with a dependable income floor. He explains the difference between essential and flexible spending, then covers allocation bands, portfolio rebalancing, and the importance of maintaining a cash-flow cushion. Dan also reviews IRMAA considerations, benefit and election decisions, scenario planning, and the value of staying informed as policies and markets evolve.
Katelyn explores the question of how much is “enough” for retirement. She reviews common savings benchmarks, then stresses the importance of first identifying expected monthly and annual expenses, including potential increases or decreases based on lifestyle goals such as travel or hobbies. She also discusses strategies for catching up on savings, including FERS, Social Security, and TSP considerations. She concludes by encouraging listeners to compare what they have saved with what they will actually need to retire comfortably.
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