Retirement Catastrophes

<p>Have you ever wondered why your advisor spends so much time on all the scenarios you never expect to happen? It’s to avoid a catastrophe in retirement that ruins everything you’ve worked for or even causes you to return to work. Let’s discuss four scenarios that we’ve seen first-hand and talk about how you can avoid the same outcome.  </p> <p> </p> <p><strong>Show notes and additional resources:</strong> <a href= "https://johnsonbrunetti.com/?p=4763">https://johnsonbrunetti.com/?p=4763</a> </p> <p> </p> <p><strong>Today's rundown:</strong> </p> <p><strong>0:43</strong> – A recent study finds outstanding student loans have tripled since 2006. There’s now $1.6 trillion in student loans out there. When will this become a major problem?</p> <p><strong>1:58</strong> – Here’s how Joel’s kids have dealt with paying for college.</p> <p><strong>3:13</strong> – Anytime there’s easy money to borrow, bubbles happen. And that’s what we have in this student loan situation. This is a real problem.</p> <p><strong>4:12</strong> – Let’s talk about some retirement catastrophes.</p> <p><strong>4:39</strong> – 1st scenario: Tell us a story about somebody later on in retirement that struggled to pay the bills because they didn’t do a good job accounting for inflation through the years.</p> <p><strong>6:00</strong> – 2nd scenario: What about somebody where bad tax planning really bit them?</p> <p><strong>7:44</strong> – Another example of this where a person bit on one of these schemes that caused a big tax burden down the road.</p> <p><strong>9:19</strong> – A lot of people don’t see taxes as part of the retirement planning process. </p> <p><strong>10:20</strong> – 3RD scenario: Someone retires without having a realistic idea of how much they would spend in retirement.</p> <p><strong>12:27</strong> – Think about retirement as 35 years of unemployment. This needs to be a part of your thinking when building a plan.</p> <p><strong>14:06 –</strong> 4th scenario: Have you seen someone that got wiped out by a market crash? Maybe they too