Payne Points of Wealth

Payne Points of Wealth


Ep #19: The Road To Retirement: Why Planning Your Next Trip Is Like Planning For Retirement

October 03, 2019

As you plan for a road trip, you probably plot out the destinations, book the hotels, and get an oil change before you go. It takes some work ahead of time to get it all done, but it is more than worth it to have it all taken care of while you’re enjoying your vacation. Are you putting in the same amount of effort into planning for your retirement?Show Notes: https://paynecm.com/bebullish/1:33 - What needs to be on your retirement road trip checklist? 2:21 - You have to know where you’re going.3:14 - There’s a lot of mistakes you can make.4:07 - Professional advice is critical.5:13 - It’s about the journey, not the destination.6:08 - When is it time to go on autopilot?8:15 - Your 401(k) can be one of your most powerful retirement tools, but it’s not perfect.10:29 - There may be limited options when it comes to the mutual funds.11:11 - What are your rollover options?12:29 - Why don’t we like bond funds?15:00 - Financial Propaganda of the Week: Fear has caused people to sell and lose out.16:54 - You need to have a plan when you invest.17:35 - You have to have a bond portfolio where you have permanence and definition.18:16 - Plan for everything, not just one thing.19:32 - The “A” word - annuities!20:57 - We’re living longer, so you need an income stream that keeps up--most annuities don’t do that.21:45 - The best hedge there is against inflation are dividends.