Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®
Business:Investing
You cut the paycheck cord and enter retirement. Then a spending goal unexpectedly increases...significantly. You can't simply continue to work longer, so what do you do?
Hear Kevin discuss real-life cases where clients had to provide financial support to their daughter going through a messy divorce and another situation where a client desired to buy a 2nd home. Though the situations were starkly different, the process to rework the retirement plan and evaluate tradeoffs was similar.
Life throws curveballs. Best to have a plan and process in place in advance on how to deal with them.
Timestamps:
4:18 - Client Story: Life Happens, Things Change
8:07 - Reworking The Plan For A Second Home
14:26 - Picking Up New Spending Goals
17:09 - Potentially Downsizing
18:12 - Taking A Second Look At Travel Expenses
20:14 - Providing Clarity
22:21 - Helping Clients Make Informed Decisions
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