Navigating an Abundant Retirement with Carol Dewey Carol Dewey

In this episode of Navigating an Abundant Retirement, host Carol Dewey continues the discussion on the 12 little-known wealth myths. In part two, Carol explores myths seven through nine, shedding light on how these misconceptions can negatively impact retirement planning. She emphasizes the importance of understanding these myths to avoid costly mistakes and outlines a path to a 120% retirement lifestyle.
Key Takeaways:
Wealth Myth #7: The 80% reduced retirement lifestyle myth can lead to a life of lower standards if followed. Retirement should be about abundance, not reducing your lifestyle.Wealth Myth #8: The 401(k) binge myth encourages excessive or uncontrolled indulgence in 401(k) plans, potentially leading to higher taxes and lost capital gains benefits.Wealth Myth #9: The lower tax bracket later myth is based on the false assumption that you will always be in a lower tax bracket in retirement. Rising federal debt might lead to increased tax rates, impacting retirees' financial security.
Quotes:
"Retirement should be a life of more than enough. I believe you should retire 120%.""Every unnecessary dollar you surrender to the IRS needlessly is one less dollar you have for your lifestyle and your legacy."
Timestamps:
(01:27) - Discussion on myths and their implications on retirement(03:47) - The impact of new forces on retiree confidence(07:01) - Explaining the 120% retirement concept(08:16) - Importance of reliable and tax-free income for retirement(09:27) - The risks of a stock market-based retirement lifestyle(10:50) - The drawbacks of excessive reliance on 401(k) plans(12:16) - Discussing tax bracket assumptions and their impact on retirement planning(14:45) - Impact of federal government spending and potential tax rate increases(18:25) - Description of the 21-point retirement lifestyle assessment
Referenced Links:
For more information about the show, visit Navigating an Abundant Retirement Podcast.Give us a call at (877) 434-6243 or email Carol at carol@perpetualwealthfinancial.com to schedule your 21-point retirement lifestyle assessment.
Connect With Carol Dewey:
Website: Perpetual Wealth FinancialLinkedIn: Carol Dewey on LinkedIn

In this episode of Navigating an Abundant Retirement Radio, Carol Dewey discusses the first six myths out of twelve that can affect your retirement planning. She explores common misconceptions about wealth and retirement, illustrating how these myths can impact your financial security and freedom. Carol shares personal stories and real-world examples to emphasize the importance of comprehensive planning for a successful retirement.
Key Takeaways:Myth #1: "What Got You Here, Won't Get You There." Carol discusses the three wealth phases and emphasizes the need to adjust wealth plans as you move into retirement.Myth #2: "The Tax Code is Not Your Friend." Carol highlights how understanding the tax code can lead to significant tax reductions and even elimination.Myth #3: "Good Advice vs. Bad Advice." She shares a real-life story of how bad advice led to financial loss and family conflict, demonstrating the importance of having well-informed advisors.Myth #4: "The Financial Superstar Myth." Carol examines the unrealistic expectation that people should be experts in both their careers and wealth management.Myth #5: "The DIY or Semi-DIY Myth." She explains why acting as your own wealth advisor may not be the best approach, especially during retirement.Myth #6: "The Dear Occupant Gold Myth." Carol discusses the dangers of one-size-fits-all financial products and the need for customized wealth planning.
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Quotes:"Wealth is more than money. It's what is valuable to you, what is worth fighting to protect, and what is worth passing on.""The tax code is a roadmap to tax reduction and tax elimination. It's full of gold mines for those with advisors trained to take advantage of every tax-saving opportunity."
Timestamps:(00:16) Overview of the First Six Myths(01:17) Defining Wealth and Retirement(02:17) Myth #1: "What Got You Here, Won't Get You There"(05:41) Myth #2: "The Tax Code is Not Your Friend"(07:58) Myth #3: "Good Advice vs. Bad Advice"(11:08) Myth #4: "The Financial Superstar Myth"(14:07) Myth #5: "The DIY or Semi-DIY Myth"(15:17) Myth #6: "The Dear Occupant Gold Myth"
Referenced Links:Please leave us a rating and a review on Apple Podcast.
Connect With Carol:Perpetual Wealth Financial WebsiteLinkedIn

In this episode of Navigating an Abundant Retirement Radio, host Carol Dewey delves into the potential impact of the 2024 presidential election on finances. Drawing on data and historical trends, Carol addresses common concerns and misconceptions about how election outcomes may affect investment portfolios and retirement plans. While acknowledging widespread anxiety among investors, Carol emphasizes the importance of staying informed, maintaining a long-term perspective, and working closely with financial professionals to navigate economic uncertainties.
Key Takeaways:
Historical data suggests that presidential election outcomes have minimal impact on market performance.Maintaining focus on long-term financial goals and strategies is crucial during periods of economic volatility.Working with a financial services professional can provide valuable guidance and perspective in navigating market fluctuations.Relying on data and historical trends rather than emotions or gut instincts can lead to more informed investment decisions.Building a diversified investment portfolio and staying patient during market fluctuations are essential for long-term financial success.
Quotes:
"Presidential elections occur every four years whether we like it or not, and the data is clear that the winner of those elections isn't going to change your portfolio much.""Building the kind of savings and retirement income you need to achieve your retirement goals comes down to trust and patience.""There's real power in relying on data and historical trends rather than your emotions or gut instincts."
Timestamps:
(01:59) Overview of election-related financial concerns
(06:05) Analysis of historical trends and market performance during election years
(08:35) Examination of investor sentiments and anxieties
(11:11) Impact of election-related anxiety on retirement planning and investment strategies
(14:44) Strategies for avoiding emotion-based investing during economic uncertainty
(17:55) Conclusion and encouragement to stay focused on long-term financial goals
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Connect With Carol:
www.perpetualwealthfinancial.comLinkedIn

Episode Summary:
On this episode of Navigating an Abundant Retirement Radio, host Carol Dewey delves into the intricate financial concerns faced by many, including millionaires. In the Retire Abundantly series debut, she explores the evolving landscape of financial security amidst economic, financial, and political shifts, offering insights and strategies for ensuring a prosperous retirement.
Key Takeaways:
Achieving a million-dollar milestone doesn't guarantee the anticipated sense of financial security.Financial concerns extend beyond personal wealth to encompass broader economic uncertainties.Taxes, particularly IRS levies, pose significant threats to financial independence and retirement plans.Preparation and informed action are vital in navigating financial challenges and securing a fulfilling retirement.
Quotes:
"It's not just as Yogi Berra said, 'A nickel ain't worth a dime anymore.' There are an extraordinary labyrinth of new economic, financial, and political forces at work that threaten our financial security and will create winners and losers." - Carol Dewey"Income is king after-tax income. It's not what you make, it's what you keep." - Carol Dewey"What's the one thing you would surrender all of your money to keep? Whatever that answer is, be sure your Strategic Retirement Lifestyle Plan protects that." - Carol Dewey
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Please leave us a rating and a review on Apple Podcast.
Visit the website here.
Connect With Carol:
WebsiteLinkedIn

In this episode of "Navigating an Abundant Retirement," host Carol Dewey dives into the crucial topic of Roth conversions. Join us as we explore whether a Roth conversion is the right financial move for your retirement strategy.
Don't miss this episode of "Navigating an Abundant Retirement" if you're looking to make informed decisions about Roth conversions and maximize the potential of your retirement savings. Tune in for expert advice and practical tips on securing a financially abundant retirement.

In this episode of Navigating Abundant Retirement radio. Carol Dewey talks about how TODAY’S ECONOMY MIGHT IMPACT YOUR RETIREMENT. If you’re retired (or close to it), you might feel overwhelmed hearing about all the things that could affect the retirement you’ve worked so hard for. So in this show, Carol will discuss how you can take charge of your retirement! We’ll cover how an appropriate retirement income strategy can help you:"