Retirement, Flipping the Switch

Wine and Dime welcomes back Kate Welker to the show. Kate is here to talk about retirement, and "Flipping the Switch" for retirement.

In this episode, you will learn

Steps to Prepare for RetirementIdeas on how to get comfortable with changing the frame around “income” streamBucketing Your AssetsBook Recommendation - Flipping a Switch, Barbara O'Neill

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Flipping a Switch: Your Guide to Happiness and Financial Security in Later Life - Leaving full-time employment to enter retirement often requires a 180-degree change in mindset and behavior from the way you managed your time and money previously. This is especially true for Baby Boomers who may have never experienced adult life without a full-time job and have been practicing the same habits since their 20s. These life transitions can be looked at as if they require flipping a switch. Some changes happen suddenly like an on/off switch, while others happen over time like a dimmer switch. Some switches are voluntary like spending accumulated savings, while some are mandatory like taking required minimum distributions starting at age 72. And to make matters more confusing, there are also lifestyle and social changes to consider as well.

Flipping a Switch discusses 35 financial, lifestyle, and social transitions you'll encounter upon entering retirement, including:
-Full-time work to new pastimes
-Saving money to spending money
-Receiving a paycheck to creating a paycheck
-Funding retirement savings plans to taking required minimum distribution withdrawals
-Accumulating possessions to downsizing

Everyone has unique switches to flip. Flipping a Switch: Your Guide to Happiness and Financial Security in Later Life offers important information and guidance new retirees need before undertaking their new life. Each chapter includes a How to Flip This Switch section with suggested action steps. Nationally known speaker, author, and Certified Financial Planner© Dr. Barbara O'Neill will help you develop a plan to become your best future self.

This episode is brought to you by Rooted Planning Group. Rooted Planning Group is a fee-only financial planning firm that specializes in working with women in their 30s and 40s who want to take control of their finances and plan for the future. Whether you're just starting out or you're looking to make a big change, Rooted Planning Group can help.

Visit www.rootedpg.com to learn more.