What’s Your Plan B? – Jennifer Schoonmaker-Dasch

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When will you retire? Many people set a specific target date and diligently plan for that. But despite your best efforts to plan, circumstances beyond your control can change. A surprisingly high percentage of people are forced to retire earlier, and often much earlier, than they planned. Jennifer Schoonmaker-Dasch, a Financial Advisor with Edward Jones, suggests an alternative approach. Instead of a specific date, plan instead for a range of dates to retire. This helps you keep your options open and retain some flexibility-  and prepare your Plan B if life throws you curveballs.

Jennifer Schoonmaker-Dasch joins us from North Carolina.

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Bio - Jennifer Schoonmaker-Dasch
Helping clients build and manage their entire financial picture is a true privilege that Jennifer Schoonmaker-Dasch takes very seriously. She listens closely to their stories, learns about their lives and gains an understanding of their definition of financial success. She helps clients make informed, financially sound decisions so they can live their lives with confidence. Together, she can help clients protect their financial future and the futures of those they care for the most. She focuses on supporting clients during life transitions, such as changing jobs, selling a business, entering retirement, receiving an inheritance or losing a spouse/partner.  She can also help clients plan for the unexpected, like the need for long-term care.

Jennifer is registered and licensed in multiple states and serves clients throughout the country.  She joined Edward Jones in 2005 and earned the AAMS™ designation and CFP® certification to better serve her clients. She has been named among the top financial advisors with Forbes Best-in-State Wealth Advisors ranking 2022-2023 and Forbes Top Women Wealth Advisors Best-in-State 2022-2023.

Jennifer graduated from Roanoke College. Outside of the office, she enjoys spending family time with her husband, Keith, and their two children, Caroline and James. They love traveling, board games, Netflix and cuddling on the couch with their four rescue dogs.

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For More on Jennifer Schoonmaker-Dasch

Website and Contacr Details

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Podcast Episodes You May Like

Independence Day – Steve Lopez

The Emotional Side of Retiring – Kate Schroeder

The Vintage Years – Dr. Francine Toder

An Economist’s Take on Retirement Planning – Larry Kotlikoff

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Wise Quotes

On An Alternative to a Retirement Date 

"More and more I'm having a discussion about a range of retirement, so ideally I'd like to retire between 58 and 62 or 60 and 65. And so that range I think becomes important because maybe we get to 60, but we want to keep going. Things look good, let's go a couple more years. Great. That gives us more options in retirement that makes the dreams and the wishes become bigger. Or I'll have people where it's like we're inch away from going over that finish line because the stress and anxiety of the job is just about all we can bear. And knowing that for each client, that's really the job of the Financial Advisor. It's so important to remain flexible in environment. There's lots of different levers you can pull. When to take Social Security, which account to withdraw from, how much risk we're willing to take in the investment portfolio, working one more year -  these types of things. But when you're fully retired, some of those you can't go back and undo at 70. We can't save more in our thirties. Right? So it's got to prepare for those things beforehand."

On Working Longer

"I think more and more I'd love to see clients - and I'd love to see more Financial Advisors - having the discussion of easing into retiremen...

Retire Smarter. Don’t miss an episode in this free Retirement School:

Follow on Apple Podcasts or Subscribe: Google Podcasts | Spotify | iHeartRadio | TuneIn | RSS

________________________

When will you retire? Many people set a specific target date and diligently plan for that. But despite your best efforts to plan, circumstances beyond your control can change. A surprisingly high percentage of people are forced to retire earlier, and often much earlier, than they planned. Jennifer Schoonmaker-Dasch, a Financial Advisor with Edward Jones, suggests an alternative approach. Instead of a specific date, plan instead for a range of dates to retire. This helps you keep your options open and retain some flexibility-  and prepare your Plan B if life throws you curveballs.

Jennifer Schoonmaker-Dasch joins us from North Carolina.

_________________________

Bio – Jennifer Schoonmaker-Dasch

Helping clients build and manage their entire financial picture is a true privilege that Jennifer Schoonmaker-Dasch takes very seriously. She listens closely to their stories, learns about their lives and gains an understanding of their definition of financial success. She helps clients make informed, financially sound decisions so they can live their lives with confidence. Together, she can help clients protect their financial future and the futures of those they care for the most. She focuses on supporting clients during life transitions, such as changing jobs, selling a business, entering retirement, receiving an inheritance or losing a spouse/partner.  She can also help clients plan for the unexpected, like the need for long-term care.

Jennifer is registered and licensed in multiple states and serves clients throughout the country.  She joined Edward Jones in 2005 and earned the AAMS™ designation and CFP® certification to better serve her clients. She has been named among the top financial advisors with Forbes Best-in-State Wealth Advisors ranking 2022-2023 and Forbes Top Women Wealth Advisors Best-in-State 2022-2023.

Jennifer graduated from Roanoke College. Outside of the office, she enjoys spending family time with her husband, Keith, and their two children, Caroline and James. They love traveling, board games, Netflix and cuddling on the couch with their four rescue dogs.

_________________________

For More on Jennifer Schoonmaker-Dasch

Website and Contacr Details

___________________________

Podcast Episodes You May Like

Independence Day – Steve Lopez

The Emotional Side of Retiring – Kate Schroeder

The Vintage Years – Dr. Francine Toder

An Economist’s Take on Retirement Planning – Larry Kotlikoff

__________________________

Wise Quotes

On An Alternative to a Retirement Date 

“More and more I’m having a discussion about a range of retirement, so ideally I’d like to retire between 58 and 62 or 60 and 65. And so that range I think becomes important because maybe we get to 60, but we want to keep going. Things look good, let’s go a couple more years. Great. That gives us more options in retirement that makes the dreams and the wishes become bigger. Or I’ll have people where it’s like we’re inch away from going over that finish line because the stress and anxiety of the job is just about all we can bear. And knowing that for each client, that’s really the job of the Financial Advisor. It’s so important to remain flexible in environment. There’s lots of different levers you can pull. When to take Social Security, which account to withdraw from, how much risk we’re willing to take in the investment portfolio, working one more year –  these types of things. But when you’re fully retired, some of those you can’t go back and undo at 70. We can’t save more in our thirties. Right? So it’s got to prepare for those things beforehand.”

On Working Longer

“I think more and more I’d love to see clients – and I’d love to see more Financial Advisors – having the discussion of easing into retirement. So why do we have to wait and take that dream trip when we’re perfectly retired? Why don’t we take a 10-day trip while we’re working so that we’re able to combine those things and enjoy them. It also might make my work more enjoyable longer. You come back from a 10-day trip refreshed and ready to go. It’s not a bad thing. When this works most successfully is when it’s not a have to. When it’s a have to, then it becomes a little bit more stressful. Keep your options open and set your expectations appropriately. I’ve had some clients that have done a fantastic job of retiring from successful executive careers and doing a consulting type thing that has worked fabulously for them. They’re able to work from home or work from Florida or work from wherever they are on a consulting basis, which is fantastic. Not everyone gets that opportunity.”

On Planning

“I think the most important thing is preparation and flexibility. So preparation in terms of reducing and paying down debt and maximizing those savings when working. I know that’s basic, but I don’t think America can hear it enough. I really don’t think we can hear it enough when you don’t have big debt payments, that is going to provide a lot of flexibility on when and how you retire. So I think those two things are incredibly key. I would also say the adaptability, so understanding that what you have planned is not necessarily how it’s fully going to go and being willing to pull those levers, whether it’s changing that trip to Europe, to a domestic trip, whether travel for incredible meals in France is now in Charleston, and so looking at things more frugally, but maybe still having those experiences.”

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About Your Podcast Host 

Joe Casey is an executive coach who also helps people design their next life after their primary career and create their version of The Multipurpose Retirement.™ He created his own next chapter after a twenty-six-year career at Merrill Lynch, where he was Senior Vice President and Head of HR for Global Markets & Investment Banking. Today, in addition to his work with clients, Joe hosts The Retirement Wisdom Podcast, which thanks to his guests and loyal listeners, ranks in the top 1 % globally in popularity by Listen Notes. Business Insider has recognized him as one of 23 innovative coaches who are making a difference. He’s the author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your Joy.

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The views and opinions expressed by guests on The Retirement Wisdom Podcast are those of the guests and do not necessarily reflect the opinions of the host, or of Retirement Wisdom, LLC. The Retirement Wisdom Podcast covers the non-financial aspects of retirement. From time to time we may invite guests who discuss other aspects of retirement planning, solely for educational purposes, not advice. Listeners are advised to consult qualified financial and/or medical professionals on those matters.