Retirement Quick Tips with Ashley

The theme this week on the Retirement Quick Tips Podcast is: Don’t Fight The Fed Today, I’m talking about How Interest Rate Policy Impacts Stocks: Competition According to Zweig, lower interest rates make stocks more attractive relative to other investments like cash, cds, bonds, etc.  Incentives drive where money goes. If I’m not making anything sitting in cash or a short term CD, because rates but the stock marke TINA effect  This works in both directions…rising interest rates - all of a sudden cash, bonds, and CDs become more attractive. These days, I can get about 4% on a FDIC insured 9 or 12 month CD. That sounds like a much more attractive option than it did just a year ago when I might as well have shoved my money under a mattress rather than invest in a CD.  That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.   ---------- >>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP >>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs >>> Visit the podcast page: https://truenorthra.com/podcast/  ---------- Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance

The theme this week on the Retirement Quick Tips Podcast is: What to do with a $300,000 inheritance Today, I’m talking about how to avoid one of the most common pitfalls when receiving an inheritance, which is known as “found money syndrome”. Found money syndrome is what Forbes writer Bill Keen says can happen when “you come into money you weren’t expecting to receive: gambling winnings, a family inheritance or, in the most extreme case, winning the lottery.” We are tempted to treat this money differently because it wasn’t something we worked hard to earn and save on our own. It explains why 70% of heirs burn through their inheritance in 3 years.  It’s tempting to dream up all the things you can do with this windfall - that dream vacation to Europe, a new car, a new house, etc.  And it’s easy to justify this as a once-in-a-lifetime opportunity that you won’t ever have again.  Also, many people who receive an inheritance are up to their eyeballs in debt, so inheritance funds end up getting used to pay off credit card or other debts, but unfortunately, that often puts a bandaid on the problem, and the debt is likely to return at a future date.  So if you understand found money syndrome and are determined to use your inheritance funds wisely, what’s next?  Well actually, you should use it to pay off debt if you have debt. Especially if that is high interest credit card debt, or medical debt, or even car loans and a mortgage. Using an inheritance to rid yourself of ongoing monthly payments and those debts is often a wise choice.  If you don’t have 3-6 months savings, I would add to your liquid savings, and then invest the rest.  If and only if you are already on track for a comfortable retirement, would I ever recommend using inheritance funds for spending on anything fancy or fun. And even then I hesitate to recommend that any of it be used for spending now.  Several years ago, I had a client who passed away. She died with right around $300,000 that her only daughter inherited from her. She and her husband who predeceased her were never wealthy. They lived a very modest lifestyle with modest income. But they were prudent and good savers, and made it to the end of their lives with plenty left over to pass on to their daughter.  Unfortunately, the daughter burned through the money that took a lifetime to save in about 18 months. She bought a new house, a new car, and kept calling every few months with a new reason why she needed to take money out of her account.  It was sad to watch and angered me that her parents worked so hard for so many years and she spent it all in less that 2 years, living a lifestyle she couldn’t afford, and very likely lost it all later on since her income couldn’t support upkeep and the ongoing expenses of her new house, car, and other toys.  That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.  ---------- >>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP >>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs >>> Visit the podcast page: https://truenorthra.com/podcast/  ---------- Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance

The theme this week on the Retirement Quick Tips Podcast is: How To Use Stock Market Volatility In 2022 To Your Advantage Today, I’m talking about the #1 rule to using volatility to your advantage..well, 2 rules actually: Rule # 1: Don’t Panic. Rule #2: Don’t Forget Rule #1.  You can’t think straight or act appropriately when you’re freaked out and panicking over the stock market. Keeping your cool is the most important basic first step. You must be able to remain calm and think clearly during scary volatile time periods in the stock market if you have any hope of profiting from this current environment.That’s why I’m starting here this week, and not just diving right in to taking advantage of volatility, which I’ll transition to tomorrow. But for today, how do we stay calm and collected when the world around us is going bonkers. 40-year high inflation, interest rate hikes on the horizon, a war in the Ukraine…now that Covid is fading, the next several shoes have dropped and the stock market all of a sudden doesn’t like any of it.  Much of remaining calm comes down to some combination of temperament and experience. Most of you listening have been through many stock market periods like we’re in now, and so it becomes easier to deal with as time goes on. When you get closer to retirement, you have more at stake and so that counterbalances the benefits of your experience, and if you’re always worried and anxious about most things, including your investments, that’s also going to make it more challenging to stay calm, and you’ll need to work harder to not let your emotions control your investment decisions.  What about the things you can control? For me, this starts with limiting the quantity of the news I consume. Trust me…the headlines today won’t matter much tomorrow. And the more news we consume, the more uncertain and scary the world feels and it’s easy to get stressed, panicked, hopeless, and that’s when our fight or flight response kicks in and you start making some really bad decisions with your investments. It’s not just the amount of news you consume, it’s the quality as well. It’s important to stay away from the sources of news that stress you out the most.  If you like Tucker Carlson, but your blood pressure is through the roof after watching him every night, then turn it off. [Reading vs. watching].  That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.  ---------- >>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP >>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs >>> Visit the podcast page: https://truenorthra.com/podcast/  ---------- Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance

This week we're talking about the quiet millionaire formula for retirement. Today I want to talk about some of the lifestyle habits I often see among financially secure people.

This week we're talking about the quiet millionaire formula for retirement.

This week we're talking about the quiet millionaire formula for retirement. So what exactly is a quiet millionaire?

Welcome to The Retirement Quick Tips Podcast, your daily guide to preparing for and living your best retirement. I'm your host Ashley Micciche, and this week I'm talking about the benefits of practicing quiet wealth, and why it's important—especially for retirees—to be intentional about being quiet with our money.

This week on the Retirement Quick Tips podcast, I'm talking about When You Shouldn't Delay Social Security: 5 Smart Reasons to Claim Early Today, I'm talking about the final scenario worth considering when deciding whether or not to start social security earlier rather than later - which is to smooth out your lifetime tax liability in retirement.

This week on the Retirement Quick Tips podcast, I'm talking about When You Shouldn't Delay Social Security: 5 Smart Reasons to Claim Early Today, I'm talking about the final scenario worth considering when deciding whether or not to start social security earlier rather than later - which is to smooth out your lifetime tax liability in retirement.

This week on the Retirement Quick Tips podcast, I'm talking about When You Shouldn't Delay Social Security: 5 Smart Reasons to Claim Early Today, I'm talking about reason #4 to start social security earlier - that is to avoid spending down your assets.

This week on the Retirement Quick Tips podcast, I'm talking about When You Shouldn't Delay Social Security: 5 Smart Reasons to Claim Early Today, I'm talking about claiming early when you don't expect to live long enough to benefit from a delay in waiting.

This week on the Retirement Quick Tips podcast, I'm talking about When You Shouldn't Delay Social Security: 5 Smart Reasons to Claim Early Yesterday, I talked about how there could be several benefits - including more predictable income and tax scenarios in retirement from high net worth individuals claiming earlier rather than later. This flies in the face of conventional advice, and can be overly simplistic for the millions of married couples who are trying to decide how and when to claim social security.  So today, I'm talking about scenarios where married couples can benefit from claiming earlier.

This week on the Retirement Quick Tips podcast, I'm talking about When You Shouldn't Delay Social Security: 5 Smart Reasons to Claim Early Today, I'm talking about the findings from a 2025 Vanguard research report: "Claiming Social Security early: A spectrum of breakeven and longevity risks"

Welcome to The Retirement Quick Tips Podcast, your daily guide to preparing for and living your best retirement. I'm your host Ashley Micciche, and this week, I'm talking about: When You Shouldn't Delay Social Security: 5 Smart Reasons to Claim Early

Welcome to The Retirement Quick Tips Podcast, your daily guide to preparing for and living your best retirement. I'm your host Ashley Micciche, and this week, I'm talking about what to do if you're laid off right before retirement. You planned to work another couple years, but you got your pink slip instead. What do you do when your timeline for retirement is completely upended?  This week's theme is just a single episode, so if you're listening on Alexa, be sure to listen online or on another platform for the complete, unedited version of this week's episode. And if you're new to the podcast - welcome! I'm a financial advisor and co-owner of True North Retirement Advisors. For the last 18 years, I've helped my clients make a plan and build wealth for a confident and fulfilling retirement, and this podcast is dedicated to helping you do the same!  In the last couple months, I've had 2 clients who were laid off only a couple years from their retirement. One after working at the same employer for the last 40 years. It's a scary time filled with a lot of questions - do I need to find another job? Will anyone hire me at this age? Can I afford to retire earlier than I expected?  So in today's episode, I'm going to walk you through the steps to take if you find yourself unexpectedly laid off in the crucial couple of years before retirement. So let's get into it…

It's Sunday and I'm wrapping up the week by summarizing this week's theme:  In case you missed any episodes this week, here's what we covered.

This week on the Retirement Quick Tips podcast, I'm breaking down the generational differences between Gen X &  Boomers. These two generations approach money very differently, and those differences have a big impact on how they save, plan for retirement, and ultimately live in retirement. Today, I'm talking about how Gen X as they embark on retirement. The oldest Gen Xers are already 60, and getting close to retirement. Some are already retired.

This week on the Retirement Quick Tips podcast, I'm breaking down the generational differences between Gen X & Boomers. These two generations approach money very differently, and those differences have a big impact on how they save, plan for retirement, and ultimately live in retirement. Today, I'm talking about Gen X's saving and spending habits.

This week on the Retirement Quick Tips podcast, I'm breaking down the generational differences between Gen X &  Boomers. These two generations approach money very differently, and those differences have a big impact on how they save, plan for retirement, and ultimately live in retirement. Today I'm talking about a few key differences between Boomers and Gen X that help define how they view and relate to money - particularly as Gen X approaches retirement.

This week on the Retirement Quick Tips podcast, I'm breaking down the generational differences between Gen X &  Boomers. These two generations approach money very differently, and those differences have a big impact on how they save, plan for retirement, and ultimately live in retirement. While Boomers love to talk about the assassination of JFK and the landing on the moon and can tell you exactly where they were and what they were doing during both events, Gen X remembers the Challenger exploding, the LA riots, and the suicide of Kurt Kobain.  The defining economic event that shaped Gen X's financial path was the dot com bust. Younger Gen Xs were just finishing school and launching their careers in the late 1990s and early 2000s, while older Gen Xs ers - 35 years old at this time, were now well established.