Welcome to the Get Real podcast, your reality therapy for personal, business and real estate investing success. Angela Thomas and Ron Phillips of RP Capital are your hosts for the Get Real podcast… with the emphasis on REAL.
Angela and Ron talk about retirement planning in this episode. There are many opportunities to make bad decisions about retirement and Ron and Angela warn you off becoming a sucker.
Social Security can’t be depended upon for people in Angela and Ron’s age group, so don’t be a sucker for that.
You need to have a personalized plan for retirement. What do you want your retirement to look like? How much money is required? How will you save? What are the best investment instruments?
Rather than focusing on a dollar amount, think of what you want to do when you retire. Will you travel or be a homebody? Will you spend on other family members? Will you drive a Bentley or a Camry?
Estimate the cost of your desired retirement lifestyle. What monthly cash flow will support it? Can the return on standard stock investments do the trick?
Just don’t be a sucker and put off planning and saving. It’s important to know where you stand financially now and what you can expect at retirement.
What’s inside:
- Don’t depend on Social Security
- What does your current lifestyle cost?
- What will your retirement lifestyle cost?
- How do I maintain cash flow in retirement?
Mentioned in this episode:
- Reach Ron & Angela: Get Real Estate Success
- Free program: RP Capital Wealth Plan
