Ep 25: Obsolete Retirement Planning Ideas

There are plenty of financial planning strategies that have been passed down to each generation without losing effectiveness, but not everything can stand the test of time. Today we’ll identify five planning ideas that are either becoming obsolete or already hold little value anymore.

The Game Plan

Without a proven financial plan in place, it’s easy to follow rules that you’ve either read or heard about without knowing how well they fit your retirement goals.

On this episode, Dale will tell us about five different planning strategies that don’t really work like they used to (or maybe never did). Here are the planning ideas we’ll tell you about:

  • The 4% rule
  • 10-5-3 rule
  • Moving from stocks to bonds for safety.
  • Picking a specific number out for retirement without a plan.
  • Needing less income in retirement

Listen to the full episode or click on the timestamps below to skip around to specific topics.

The X’s & O’s

Check out the timestamps below to skip around to specific topics on the show.

[2:54] – The 4% Rule

[6:11] – The 10-5-3 Rule

[9:04] – As we age, we should transition away from stocks and into bonds for safety.

[10:28] – Tagging a certain number as what you’ll need for retirement. 

[13:59] – You’ll need less income in retirement.

 

When you’re looking at mutual funds and you’re looking at a diversified group of stocks for example, I think that 10% (return) is way too generous.

– Dale Tondryk

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Show Host

Dale Tondryk - The Coach

Dale Tondryk is president at Tondryk Wealth Management, LLC. He has more than 30 years of experience in the insurance and annuity industry and holds a Bachelor’s of Science from Southwest Minnesota State University.

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