Retirement planning is all about controlling what you can and preparing for what is out of your control. Today we’ll discuss the variables that differ from person to person and then run through the constants that each of us will have to deal with in retirement. Structuring your plan with these things in mind will put you ahead of the game.

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Where are some of the important factors you should consider when building a plan?

That’s a question everyone asks when putting a retirement plan in place so we’re going to break it down into two categories today: variables and constants. If you can build your plan with each of these important questions in mind, then you’ll put yourself in a great position for retirement.

Retirement Variables

If the variables were the same for everybody, retirement planning would be much simpler. But the fact that everybody is different is what makes it fun. So what are some of the biggest differences from plan to plan? We’ve identified four variables that we know will impact you but not in the same way it does your friend or neighbor. Let’s explain why these critical questions vary from individual to individual.

1:03 – Variable No. 1: What income are you going to need in retirement?
2:34 – Variable No. 2: Taxes
3:43 – Variable No. 3: How long do you expect to live?
5:25 – Variable No. 4: When will you take Social Security?

Retirement Constants

Now that you know about variables, let’s talk about the other side of the coin and discuss the constants that affect everyone, no matter the specifics of your situation. These considerations can be made with certainty because we know they’re coming.

7:36 – Constant No. 1: Inflation – cost of living is going up for all of us.
10:08 – Constant No. 2: Rising Taxes
12:34 – Constant No. 3: Market Volatility


Let’s close out the show with a couple listener question. Remember that you can always send one in to and we might feature it on the show.

On this episode, we have a question about financial advisors that seem to be cryptic on how they plan to invest your money. Is this something you should expect when working with an advisor? Then we have a question from a listener who is still nervous about the market and wants to know if she should keep re-investing in CDs until she feels more confident.

15:42 – Mailbag time
16:39 – Mailbag question: I’ve interviewed a few different financial advisors and they’re all cryptic about what they plan to do with my money. Is that normal?
19:16 – Mailbag question: I have a few CDs that are maturing in the next year. I’m worried about what the market will do so should I just re-invest in more CDs.

“There’s so many different variables that you have to run and tweak for yourself, and I can tell you the answer we’re going to have for you is not going to be the same for somebody else because there are so many little nuances.”

– Ryan Payne

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