Have you ever wondered about how much money you need to retire? What about how much money you should invest in your retirement? These are big …

Depending on your capability, ideally, you should put even a small amount of your first salary from your first job towards retirement says Kiran Telang, Financial …

Around 10,000 people reach retirement age every day. But, unfortunately, not all of them will be able to retire. We regularly hear that older Americans are postponing their retirement because they don’t have the financial stability necessary to sustain their current lifestyle, so this is a trend that promises to continue for the foreseeable future.

Today, businesses are being asked to help close the gap — by not only taking on older workers but by helping the younger population proactively save for their retirement. 

Steve Frank, a wealth management advisor with Investment Partners, LTD, and Angie Isakson, senior plan consultant with Rea & Associates, join this episode of unsuitable to talk about the American retirement crisis and how your business and employees can come out on top.

Listen to this episode of unsuitable to learn:

* Retirement strategies that are beneficial for both organizations and employees.
* How organizations can educate their workforce on the ins and outs of saving for retirement.
* How a good retirement plan makes your organization more appealing to top talent.
* Bad retirement advice that you should be wary of.

Steve and Angie will also touch on the variety of plans that are out there, including roth 401k, roth ira, safe harbor plans, and for those involved in an esop, how a ksop might work to maximize employee benefits. This episode of Rea’s award-winning accounting and business consulting podcast will help you learn how to maximize your retirement plan strategy to improve retirement savings across the board. By participating in a customized retirement plan, you and your employees might never have to worry about whether Social Security will be enough or how much to save for retirement again – because they will already be on the right track. There are tools like profit sharing and automatic enrollment to get business owners and their employees where they want to go.

Steve and Angie will also talk a little bit about new legislation called “SECURE” that could take the multiple employer plan strategy to a whole new level.

If you like this episode of unsuitable on Rea Radio, hit the like button, subscribe to the channel and ring the bell – and don’t forget to share it with your friends and colleagues as well. You can also use #ReaRadio to join the conversation.

You can access additional resources at

#RetirementCrisis #BusinessTips


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So you’re getting ready to retire and have begun to think about all the wonderful things that come with this next stage in life. Before you take that step, there are a few things you need think about. Carefully considering these 3 areas of your future will have a lasting and significant impact on your ability to fully maximize your retirement income.
Have you downloaded your FREE GUIDE on how to “Maximize Your Social Security Income”? It is available by visiting
Throughout this video I will cover the following things you should consider before you retire. They are:
• Timing
• Financial Decisions
• Lifestyle

Consideration #1: Timing
Timing is critical to your retirement. You may just assumed that as soon as you reached the magical age of your retirement you would walk out of your employment for the last time on that beautiful day, never to return. However you would carefully consider the timing to make sure you are retiring at a time when you will maximize your benefits. Perhaps waiting for another year will net you more in employer benefits or social security income. Maybe if you held on for another 6 months you would hit another anniversary and qualify for a bonus or vesting of stock options.
Consider carefully the timing on making that final decision to walk away.
The second area you need to be aware of with timing is how your decision will impact your ability to take social security. Because social security will be a major part of your retirement income, you need to figure out the best time to take your social security payments. Deciding on if you could work another year in order to delay your social security benefits may result in an increase in your monthly benefit. It would be nice to know these details before you make the final decision to retire.
While we cannot time the market and do not know what the future holds, we should think about the state of the market when we are getting close to retirement. If you were to retire at the end of 2007 and held all your retirement funds in accounts tied to the market, you would have woken up a year later with significantly less in your accounts. To avoid getting in this position you should prepare your accounts and make sure they are allocated in ways that will allow you to participate in some of the upside potential of the market while protecting against downside risk as much as possible.
Consideration #2: Financial
If you’re like most people, most of your thoughts about retirement have centered on financial matters. This is an important area to think about. Here are some of the financial matters you need to consider:
• How Much Money Should You Have: This is the most important thought when considering retirement. If you don’t have enough in your retirement accounts saved up then it makes it super difficult to retire. A good rule of thumb is to have 8-9x your average of the previous 3 years income.
• Reviewing Your Living Expenses: One way to make your money last longer is to review your living expenses and make sure they are in line your your budget. Cutting unnecessary expenses is a good way to know how much you need each month. No need to cut out everything and live a life of poverty, but you should know where your money goes each month.
• Can You Earn Supplemental Income: Now might be the perfect time to begin earning some supplemental income. Start a business, get another job somewhere you really enjoy or learn how to make passive income.
• Pay Down Your Debt: In line with knowing your living expenses is to cut down on your debt. Now is a good time to review the possibility of paying off that credit card or car loan. If you have a chance to take some of your retirement balance and pay off your debt, does that free up a substantial amount of money?
• Re-evaluating Your Insurance Coverage: Any major life change (retirement included) is a good time to review your insurance coverage. Take a look at Life & Health insurance, Property & Casualty (car / home) coverage or any liability insurance.
• Set Aside an Emergency Fund: You should always have an emergency fund, whether you are retiring or not. It is smart to have 6-12 months of current income in an emergency fund. Some people will hold that in cash at their house or just keep it in an account. Either way is fine as you can access it in an emergency.
Consideration #3: Lifestyle
Now that you are retired, you will have a large amount of time on your hands. It is easy to fall into a funk and not know what to do with your time so thinking about your lifestyle before you retire is critical. It is a good time to pick up a hobby, start a new business or spend more time traveling and spending time with your family.

It is also a good time to donate time to charitable causes or local not-for-profits. There are plenty of opportunities abound, you just need to look around.


Meet Sam. She is 59, single and ready to retire.

Tomorrow we kick off the 5th Edition of our Retirement Plan Live retirement case study with a listener from the retirement Answer Man podcast. A retirement planning case study with a baby boomer

1. Create her retirement goals
2. Organize her money and resources
3. Talk about how to invest money for retirement
4. How to manage the common retirement risks of retiring

Each week, you’ll get to listen in as Sam and I develop her retirement goals, organize her resources and outline the risks of retiring single. We’ll discuss budgets, pensions, the stock market, social security and much more.

Meet Sam and 5 other singles here

Sign up to get summaries of Sam’s plan and resources to help you create your own

Listen to the Retirement Answer Man Show here

Roger Whitney, CFP®, CIMA®, CPWA®, AIF® is a cofounder of WWK Wealth Advisors and host of the award-winning podcast The Retirement Answer Man. He has been a financial planner for over 27 years. Each day he “walks life” with individuals and families, helping them plan for, transition into, and live out their retirement.
He is a former instructor of retirement planning and employee benefits for the Certified Financial Planner certificate program at the University of Texas at Arlington. He has also taught wealth management at Texas Christian University Extended Education.

His recent book is called, Rock Retirement: A Simple Guide to Help You Take Control and Be More Optimistic About the Future.


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Pick the wrong motivation and you may find yourself regret retirement and it could cost you years of an exciting retirement


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This is for informational purposes only. Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by the WWK Wealth Advisors), or any non-investment related content, made reference to directly or indirectly in this webinar will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.  Moreover, you should not assume that any discussion or information contained in this webinar serves as the receipt of, or as a substitute for, personalized investment advice from the WWK Wealth Advisors. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. The WWK Wealth Advisors is neither a law firm nor a certified public accounting firm and no portion of the webinar content should be construed as legal or accounting advice. A copy of the the WWK Wealth Advisors’s current written disclosure statement discussing our advisory services and fees is available for review upon request.