Retirement Surprises – It’s the Little Things

Key Takeaways

  • When we plan our yearly spending, it doesn’t always work out the way we want it to because of the little things that inevitably come up throughout the year.
  • Adding 10% to your overall spending plan for the year helps mitigate the surprise expenditures.
  • Having a 10% spending buffer sets good expectations and gives you peace of mind when the little things come up.

Changing the Conversation

Key Takeaways

  • Establishing boundaries on our money with both ourselves and others helps keep people from becoming overly dependent upon us.
  • Continually paying off debts or financially rescuing our family and friends from situations is just a short-term fix to a long-term behavioral issue.
  • Sometimes tough love is what it takes for a family member or friend to break their money dependency cycle; there is no easy solution.
  • These situations are often very emotional and difficult, so don’t handle them alone and ask for help if you need it.

The Three Step Wealth Reset

Key Takeaways

  • We reset ourselves throughout our lives, so it’s important to ask questions about what we want the outcome of our resets to look like.
  • There are four freedoms that come together to form a three-step wealth reset process, and they are time, money, relationships and purpose.
  • Discuss the answers to the three-step wealth process questions with someone else for a less emotional and outside viewpoint.

Human Intelligence – A1 2.0 Part II

Key Takeaways

  • Artificial intelligence (AI) is intimidating to some and exciting to others.
  • AI has the potential to significantly expand our brainpower and longevity. But will many outlive their money?
  • The flip side of living longer is that your money has to last longer too—Social Security, Medicare and Medicaid won’t last forever. How about your portfolio and savings?