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003: How Will You Replace Your Income in Retirement?
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Have you heard of the post-World War II financial planning strategy known as the “Three-Legged Stool?" Well, on this episode of The Retirement Equals Freedom Podcast we’re here to introduce you to the latest and greatest 21st century alternative!
Host Josh Bretl, a CPA and owner of FSR Wealth Strategies, is explaining his “Pockets on Your Pants” model for spending in retirement.
Income is the No. 1 concern he sees among clients contemplating their long-term financial prospects – and from the sound of it securing a revenue stream is also on sidekick Dave Schmidt’s mind!
The two discuss what “The Great Resignation” means in terms of future financial security, how the “retire at age 65” standard came into being (pretty random, actually) and why younger generations are ordering some of their priorities differently (embracing side hustles and skepticism about the corporate paycheck way of life).
All that said, whatever your approach, everyone benefits from having an actual framework written down, along with realistic milestones and contingency plans for those unexpected rainy days.
And speaking of those rainy days? Nothing could be more comforting than Market Day Chocolate Chocolate Puddin' Cake. We know that makes no sense, but listen in and thank us later!
The show wraps with just a little brainstorming. For future planning, here’s a possibility: The Retirement = Freedom Podcast co-hosts record while enjoying a “Happy Hour” featuring a tasting of Mike Rowe's fantastic Knobel Spirits handcrafted whiskey. Discuss amongst yourselves!
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