How to Calculate Needs in Retirement for Couples and 5 Key Savings Strategies

Finding Passion & Purpose in Retirement

Retirement isn't the end—it's the beginning of a new adventure! In this episode, we explore how to bring passion and purpose into your next chapter. Learn six practical tips to stay engaged, turn interests into meaningful activities, and create a fulfilling retirement on your terms. Whether you're nearing retirement or already there, these strategies will help you design a life you love. Here's what we'll cover: ✅ Exploring new passions and interests ✅ Starting small to avoid feeling overwhelmed ✅ Turning hobbies into meaningful activities ✅ Giving back through volunteering or philanthropy ✅ Overcoming common retirement challenges like loss of identity and lack of structure Check out the ESME Foundation: https://sites.google.com/view/esme-young-authors/home 📖 Check out my book, The Early Start Retirement Plan, on Amazon: https://amzn.to/3TealtO 🔔 Subscribe for more retirement planning tips! https://bit.ly/NavigateWeeklyNewsletter Take the Retirement Readiness Quiz! Visit https://www.EarlyStartRetirement.com [https://www.earlystartretirement.com/] Start YOUR FREE Financial Plan Today: FREE Financial Planning Tool: https://bit.ly/GetFinancialPlan [https://bit.ly/GetFinancialPlan] Connect with Danette Lowe, CFP® : https://linktr.ee/trunorthwealth [https://linktr.ee/trunorthwealth] Visit Our Website: https://www.TruNorthWealth.com [https://www.trunorthwealth.com/] Follow Us on Facebook: https://www.facebook.com/TruNorthRetirementPlanning [https://www.facebook.com/TruNorthRetirementPlanning] About Danette: Professional Journey- As the Founder and a CERTIFIED FINANCIAL PLANNER® professional at TruNorth Wealth Management, LLC, I've found my calling in helping pre-retirees confidently navigate the crucial decision of retirement. Our team is dedicated to guiding family-oriented couples from being net savers to net spenders. We invite you to join our extended family and experience the TruNorth Wealth difference. Danette Lowe, CFP® Founder – Wealth Advisor TruNorth Wealth Management, LLC 1662 Hwy 395 N, Suite 203, Minden, NV 89423 Connect with Danette @ https://linktr.ee/trunorthwealth [https://linktr.ee/trunorthwealth] Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. TruNorth Wealth and Cambridge are not affiliated.

Smart Budgeting for Retirees

Budgeting for retirement doesn't have to feel overwhelming! In this episode of Ready to Retire!, I'm sharing practical strategies to help you manage your income in retirement—without sacrificing the lifestyle you've worked so hard to build. Many retirees worry about living on a "fixed income," but I encourage you to think of it as a flexible income stream instead. We'll talk about how to structure your income sources, account for inflation, and plan for unexpected expenses while still having room for travel, hobbies, and fun. Here's what we'll cover: ✔️ Why budgeting in retirement is different from when you were working ✔️ How to shift your mindset from "fixed income" to "flexible income" ✔️ The biggest challenges retirees face—and how to solve them ✔️ How to map out your income streams and avoid common mistakes ✔️ Why delaying Social Security can help maximize your benefits ✔️ The importance of an emergency reserve—even in retirement Budgeting is about freedom, not restriction. With the right plan, you can retire with confidence, knowing your money will last. 📖 Check out my book, The Early Start Retirement Plan, on Amazon: https://amzn.to/3TealtO Let's make sure your budget supports the retirement adventure you deserve! 🔔 Subscribe for more retirement planning tips! https://bit.ly/NavigateWeeklyNewsletter NEW RELEASE: THE EARLY START RETIREMENT PLAN Take the Retirement Readiness Quiz! https://www.EarlyStartRetirement.com [https://www.EarlyStartRetirement.com] Start YOUR FREE Financial Plan Today: Now available – FREE ACCESS – to a Financial Planning Tool: Click here: https://bit.ly/GetFinancialPlan [https://bit.ly/GetFinancialPlan] Connect with Danette Lowe, CFP® https://linktr.ee/trunorthwealth [https://linktr.ee/trunorthwealth] Visit Our Website: https://www.TruNorthWealth.com [https://www.TruNorthWealth.com] Follow Us on Facebook: https://www.facebook.com/TruNorthRetirementPlanning [https://www.facebook.com/TruNorthRetirementPlanning] About Danette: Professional Journey- As the Founder and a CERTIFIED FINANCIAL PLANNER™ professional at TruNorth Wealth Management, LLC, I've found my calling in helping pre-retirees confidently navigate the crucial decision of retirement. Our team is dedicated to guiding family-oriented couples from being net savers to net spenders. We invite you to join our extended family and experience the TruNorth Wealth difference. Danette Lowe, CFP® Founder – Wealth Advisor TruNorth Wealth Management, LLC 1662 Hwy 395 N, Suite 203, Minden, NV 89423 Connect with Danette @ https://linktr.ee/trunorthwealth [https://linktr.ee/trunorthwealth] Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. TruNorth Wealth and Cambridge are not affiliated.

Easing Sibling Tensions when Settling Your Parents Trust

Losing both parents is a challenging time, and managing the family estate as the successor trustee can feel overwhelming—especially when sibling tensions arise. In this episode, Danette shares a step-by-step guide to settling an estate, from obtaining death certificates to distributing assets, and offers five practical strategies to ease sibling conflicts. With tips on fostering collaboration, maintaining open communication, and setting boundaries, this episode is designed to help preserve family relationships during a difficult process. Check the show notes for helpful checklists and resources.… Helpful checklists for Administering a Trust: Death of a Family Member Checklist Successor Trustee Tips Survivor's Reminders: Death of a Spouse https://earlystartretirement.com/#:~:text=ESTATE%20SETTLEMENT%20RESOURCES [https://earlystartretirement.com/#:~:text=ESTATE%20SETTLEMENT%20RESOURCES] NEW RELEASE: THE EARLY START RETIREMENT PLAN Take the Retirement Readiness Quiz! Visit https://www.EarlyStartRetirement.com [https://www.EarlyStartRetirement.com] Start YOUR FREE Financial Plan Today: Now available – FREE ACCESS – to a Financial Planning Tool: Click here: https://bit.ly/GetFinancialPlan [https://bit.ly/GetFinancialPlan] Connect with Danette Lowe, CFP® https://linktr.ee/trunorthwealth [https://linktr.ee/trunorthwealth] Visit Our Website: https://www.TruNorthWealth.com [https://www.TruNorthWealth.com] Follow Us on Facebook: https://www.facebook.com/TruNorthRetirementPlanning [https://www.facebook.com/TruNorthRetirementPlanning] About Danette: Professional Journey- As the Founder and a CERTIFIED FINANCIAL PLANNER™ professional at TruNorth Wealth Management, LLC, I've found my calling in helping pre-retirees confidently navigate the crucial decision of retirement. Our team is dedicated to guiding family-oriented couples from being net savers to net spenders. We invite you to join our extended family and experience the TruNorth Wealth difference. Danette Lowe, CFP® Founder – Wealth Advisor TruNorth Wealth Management, LLC 1662 Hwy 395 N, Suite 203, Minden, NV 89423 Connect with Danette @ https://linktr.ee/trunorthwealth [https://linktr.ee/trunorthwealth] Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. TruNorth Wealth and Cambridge are not affiliated.

5 Fun Ways to Boost Your Pre-Retirement Income

Are you looking for fresh ways to boost your income before retirement? In this episode, we explore five fun, practical ways to add to your cash flow without taking on the weight of a second job. Whether you're saving to retire early, dreaming of shifting into a passion project, or just want a bit more financial freedom, these tips can help you get there in a way that aligns with your current lifestyle… NEW RELEASE: THE EARLY START RETIREMENT PLAN Visit https://www.EarlyStartRetirement.com [https://www.EarlyStartRetirement.com] Take the Retirement Readiness Quiz! Start YOUR FREE Financial Plan Today: Now available – FREE ACCESS – to a Financial Planning Tool: Click here: https://bit.ly/GetFinancialPlan [https://bit.ly/GetFinancialPlan] Connect with Danette Lowe, CFP® https://linktr.ee/trunorthwealth [https://linktr.ee/trunorthwealth] Visit Our Website: https://www.TruNorthWealth.com [https://www.TruNorthWealth.com] 1. Hobby Hustle Turn your hobbies into a side income! Whether it's crafting, gardening, or painting, hobbies can often be transformed into small businesses. Hear how my mom's candle-making hobby became a successful Etsy shop and discover tips on how to share your creations with others. 2. Holiday Haven Consider investing in a vacation rental. If you own property in a desirable location, renting it out part-time can generate significant extra income. We dive into location tips, property management ideas, and unique amenities that make your rental stand out. 3. Broadcast Brilliance Have a story to tell or knowledge to share? Starting a blog or podcast is simpler than ever and can eventually lead to ad revenue, affiliate income, or even your own product sales. I share my journey of podcasting and how it led to writing my book, The Early Start Retirement Plan. 4. E-Commerce Extravaganza Create and sell products online! From digital downloads to handmade goods, e-commerce offers endless possibilities. Platforms like Etsy and eBay make it easy to showcase your work, while SEO and social media can help you attract customers. 5. Teaching Treasures Use your skills to teach others! Coaching, tutoring, or teaching classes—whether online or in-person—can be both fulfilling and profitable. Whether it's academic subjects or a beloved hobby, this can be a rewarding way to share your expertise. Each strategy is designed to fit smoothly into your life now, adding value and setting the stage for a fulfilling retirement. With personal stories, actionable tips, and easy-to-follow guidance, these simple ideas will help you elevate your financial future. So grab your notebook, sit back, and let's dive into these tips for pre-retirement income! Follow Us on Facebook: https://www.facebook.com/TruNorthRetirementPlanning [https://www.facebook.com/TruNorthRetirementPlanning] About Danette: Professional Journey- As the Founder and a CERTIFIED FINANCIAL PLANNER™ professional at TruNorth Wealth Management, LLC, I've found my calling in helping pre-retirees confidently navigate the crucial decision of retirement. Our team is dedicated to guiding family-oriented couples from being net savers to net spenders. We invite you to join our extended family and experience the TruNorth Wealth difference. Danette Lowe, CFP® Founder – Wealth Advisor TruNorth Wealth Management, LLC 1662 HWY 395 N, Suite 203, Minden, NV 89423 Connect with Danette @ https://linktr.ee/trunorthwealth [https://linktr.ee/trunorthwealth] Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. TruNorth Wealth and Cambridge are not affiliated.

How to Calculate Needs in Retirement for Couples and 5 Key Savings Strategies

Today we dive into the crucial topic of retirement planning for married couples. With the challenge of harmonizing two different perspectives on retirement, this episode offers valuable strategies to increase savings and ensure a comfortable retirement… Click here to Download Your FREE "3 Steps" to Plan an Epic Retirement Worksheet: https://www.trunorthwealth.com/newsletter-signup [https://www.trunorthwealth.com/newsletter-signup] What's included: 3 Steps to Planning an EPIC Retirement Step 1: How will You Spend Your Time? Step 2: Identify Your Income & Expenses Step 3: Putting it all Together Connect with Danette Lowe, CFP® https://linktr.ee/trunorthwealth [https://linktr.ee/trunorthwealth] Visit Our Website: https://www.TruNorthWealth.com [https://www.TruNorthWealth.com] Episode Summary: We kick off with a discussion on a recent T. Rowe Price study, which benchmarks the ideal savings by age for both single individuals and married couples. For instance, at age 55, you should have five times your annual income saved, and by 65, it should be eight and a half times. Danette breaks down these figures with real-world examples, providing a clear starting point for retirement planning. T. Rowe Price Benchmark Study: https://trowe.com/3vEJiyM IRS Contribution Limits 2024: https://www.irs.gov/newsroom/401k-limit-increases-to-23000-for-2024-ira-limit-rises-to-7000 The episode then guides you through practical steps to assess your financial status, including creating a Statement of Net Worth and analyzing monthly spending. Here are 5 Strategies to Maximize Savings for Couples in 2024: Maximize 401k and IRA Contributions: Understanding the impact of the SECURE Act 2.0 on retirement savings. Pay Yourself First: Leveraging automatic transfers and incremental savings increases. Eliminate High-Interest Debt: Starting with the smallest balances and working up. Smart Management of Car Expenses: Sharing a successful strategy for car payments and savings. Utilize IRAs Efficiently: Exploring the benefits of spousal and Roth IRAs. Each strategy is accompanied by real-life examples and practical advice. If you found this episode helpful, please give us a thumbs up. For more insights and advice on retirement planning, don't forget to subscribe and join us in the next episode of "Ready to Retire!". Follow Us on Facebook: https://www.facebook.com/TruNorthRetirementPlanning [https://www.facebook.com/TruNorthRetirementPlanning] Professional Journey- As the Founder and a CERTIFIED FINANCIAL PLANNER™ professional at TruNorth Wealth Management, LLC, I've found my calling in helping pre-retirees confidently navigate the crucial decision of retirement. Our team is dedicated to guiding family-oriented couples from being net savers to net spenders. We invite you to join our extended family and experience the TruNorth Wealth difference. Danette Lowe, CFP® Founder – Wealth Advisor TruNorth Wealth Management, LLC 1662 HWY 395 N, Suite 203, Minden, NV 89423 Connect with Danette @ https://linktr.ee/trunorthwealth [https://linktr.ee/trunorthwealth] Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. TruNorth Wealth and Cambridge are not affiliated.