Wealthy Habits Podcast

In this episode, we’ll explore many of the expenses in your life that might drastically change (one way or another) in retirement. We’ll break those expenses down further to see which ones are the top priorities and analyze some of the other factors that impact your cash flow in retirement.

From housing and healthcare to insurance and taxes, we’re here to share some of the expenses you need to keep an eye on. You can consider questions such as: Should you downsize your house or buy a vacation home? Are you blowing your budget by acting like every day is Saturday in retirement? How much insurance do you really need? No matter the topic, we’re here for all your retirement needs.

Here's what we'll talk about on today's show:

• What is your housing situation? Is your mortgage paid off? (3:30)
• Will your expenses drop in retirement? (9:39)
• Will your taxes change in retirement? (15:49)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

Picture this: You're at your retirement party, finally ready to enjoy your golden years, but worries caused by some bad money habits have robbed you of fully enjoying the sweetness of the day. It happens to more people than you think, which is unfortunate because with just a little bit of modification, you can rid some of the worst money habits from your life and set yourself up for retirement success.

Throughout the years, we have witnessed some of these harmful money habits and seen how they have significantly impacted people's lives. From neglecting to review account statements to making emotional investment decisions, we’ll explore these decisions that should be avoided.

Here's what we'll talk about on today's show:

• Ignoring your account statements. (1:53)
• Investing emotionally instead of with logic. (7:04)
• Taking money out of your emergency fund for non-emergencies. (11:09)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

It’s time for another mailbag episode! We have an exciting lineup of topics to discuss today. Listen in as we tackle some current questions from our listeners, and you’ll likely gain some invaluable insights to help you make informed financial decisions.

This episode could be very helpful if you’re looking to improve your financial situation and prepare for retirement. We will discuss whether you should pay off your mortgage early, how to stop supporting your adult children financially, and more. You don’t want to miss this one!

Here's what we'll talk about on today's show:

• Should I pay off my house? (3:02)
• How do I cut off my adult son financially? (8:07)
• Should I take an early retirement offer? (11:30)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

Welcome to part 2 of our series about taking control of your finances during life's most pivotal moments. Last episode, we talked about the complex world of financial decision-making during key life events. From the excitement of marriage to the challenges of losing a loved one, we’re sharing practical tips to help you make informed decisions and maintain financial stability during life’s ups and downs. 

Today we're talking about job changes, adoption, medical issues, and more. For example, if you have ever changed jobs, you know how it feels to prepare for a new paycheck, health insurance and benefits. As a reminder, it’s good to have a financial advisor on your side, especially during these crucial times. We’re here to help with these questions and more as we tackle the topic of your finances during major life events.

Here's what we'll talk about on today's show:

• How should you handle a job change financially? (2:32)
• How can you prepare for birth or child adoption? (8:32)
• What’s the best way to prepare financially for retirement? (12:20)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

Are you ready to take control of your finances during life's most pivotal moments? In this episode, we’ll dive into the complex world of financial decision-making during key life events. From the excitement of marriage and the joy of welcoming a new child to the challenges of divorce and the loss of a loved one, we'll provide practical tips and guidance to help you make informed decisions and maintain financial stability.

For example, if you’re getting married, there are some key questions you and your spouse need to answer together. Will you have a joint bank account? Do you want a prenup? How will you handle budgeting? We’re here to help with these questions and more as we tackle the topic of your finances during major life events.

Here's what we'll talk about on today's show:

• How to handle money in marriage. (2:48)
• How to set yourself up for success financially if you remarry. (10:13)
• Why handling money during divorce is one of the hardest things to navigate. (15:52)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

From time to time, we like to look at issues faced by people in other professions outside of the financial world and see what kind of retirement planning lessons we can learn from these other professions. Today, we’re seeing what we can learn from teachers and the issues they face.

For example, some teachers might enjoy giving homework assignments, but most of them just see it as a necessary evil. In retirement planning, nobody likes homework either. A few people really enjoy getting into the nitty-gritty with their investments, but most people want the process to be painless and simple. A good advisor can take a lot of that pain and annoyance out of the process for you, but the truth is that you still need to be involved. 

In addition to gathering up statements and making sure you know what you have, you also need to think about your goals, dreams, and desired lifestyle and be able to articulate those to an advisor so that your plan can truly be customized to you. Listen to today’s show to hear even more examples of how teaching can teach us lessons about financial planning.

Here's what we'll talk about on today's show:

• Everybody hates homework. (4:08)
• Standardized testing isn’t ideal. (7:17)
• Everything has pros and cons. (9:19)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

In the complex world of retirement planning, there are countless pitfalls one could face. Today we're sharing six of the top mistakes to watch out for. Avoiding these crucial missteps can have a significant impact on the success of your retirement plan.

 As you listen, take note if you are making any of these mistakes. Are you taking investing advice from friends and family? Are you relying solely on your company’s retirement plan? No matter the problem, we’ll help you recognize the errors and talk about how to correct them. Join us as we delve into these key issues and learn how to navigate them effectively when it's your turn to plan for retirement.

Here's what we'll talk about on today's show:

• Mistake: Taking advice from friends and family about investing. (3:27)
• Mistake: Relying solely on your company’s retirement plan. (6:59)
• Mistake: Not adjusting your retirement budget for inflation. (8:52)

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

Welcome to part two of our two-part series on Social Security myths. Last week, we debunked the first five common Social Security myths. For example, are stay-at-home moms eligible for Social Security? Tune into last week’s episode for that answer and more! This week, we’ll answer five additional questions about this topic. 

Can you work and get Social Security benefits at the same time? Are your benefits based on your assets? No matter what questions you have about Social Security, we are here to help guide you through this important step in your financial future. Let’s jump into part two of our two-part show on Social Security myths.

Here's what we'll talk about on today's show:

• Myth: You can’t work and get Social Security benefits at the same time. (4:22)
• Myth: If you have a pension, you can’t get Social Security. (10:27)
• Myth: Social Security benefits are based on your income and assets. (12:51)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you're eligible is the best decision for your financial future? In this two-part series, we're debunking common myths about Social Security and answering the questions you've been curious about.

No matter what questions you have about Social Security, we are here to help guide you through this important step in your financial future. Today’s show should give you a pretty good overview. Let’s jump into part one of our two-part show on Social Security myths, where we cover the first 5 Social Security myths.

Here's what we'll talk about on today's show:

• Myth: The Social Security Administration will help you make decisions about your benefit. (3:43)
• Myth: Social Security won’t be available if you’re a stay-at-home mom. (6:53)
• Myth: You won’t have to pay taxes on your Social Security. (10:51)

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

It’s time for another mailbag episode! We have an exciting lineup of topics to discuss today. Listen in as we tackle some current questions from our listeners, and you’ll likely gain some invaluable insights to help you make informed financial decisions.

This episode could be very helpful if you’re looking to improve your financial situation and prepare for retirement. We will discuss whether to sell your house and rent at the beach, what to do if the market crashes further, and if you should delay retirement because you don’t feel prepared. Stay tuned to see what you can learn from these listener questions.

Here's what we'll talk about on today's show:

• Should I sell my house and rent at the beach? (2:12)
• Is the market going to crash further? (7:53)
• Should I push my retirement date back because I don’t feel prepared? (12:25)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783