You’ve Been Told to Save for Retirement...Now What?
episodePreviously titled “Ep 128 | You’ve Been Told to Save for Retirement...Now What?” — renamed by the publisher on Aug 2, 2026
Wealthy After 40: Retirement Planning and Budgeting for Gen X
13 min
2 speakers
5 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is retirement planning and why does it feel so unclear?
What is retirement planning? It's probably keeping you up at night because all we're told to do is save and then retire. But there are actually some things you can do right now to have you feeling in control and making momentum towards your retirement goal. Stay tuned to this episode where I will share three steps to start the retirement planning process. So stay tuned.
Welcome to the wealthy after 40 podcast, the show for Gen X women and couples who are ready to ditch financial stress and feel confident about retirement.
I'm your host, Dailene Higgins, financial and retirement coach, helping Gen Xers master their money and create a personalized retirement plan so they can stop spinning their wheels and step boldly into their dream retirement. If you're feeling behind, don't worry. Continue listening to this podcast as well as be sure to grab your free guide, Five Must Do Steps to Start Retirement Planning Now at elevatefinances.us backslash must do. And remember, let's make retirement possible together. Retirement and what to plan for. It is bothering me all the time. This was a statement made on one of my free calls. And, you know, I can fully relate and understand. Her struggle was she wasn't clear on what is retirement planning.
Why is simply being told to 'save and retire' leaving people anxious?
Now, we dove into a lot. If you're wanting help on your retirement plan, what to do, what to do next, you can do this on a confidence kickstart call, just like she did. Jump on 30 minutes. Let's review all areas of retirement planning. I'll cover exactly the areas you need to know. Help you know what you've done, what you want to happen, and then what you should be doing now. That's easily what we do in 30 minutes on that call, giving you some clarity around what is retirement planning. Back to the individual on this call and me reflecting with that after the fact and I realize the problem. You're told to save for retirement and then retire. Okay, that gives me an action plan. There are a lot of elements missing.
And if you've been a listener of this podcast for a while, you know a few of those. We have to start realizing there is so much more to retirement than just that number.
What three-step framework will start my retirement planning today?
I've said it many a times. Now that number is important, but to have control over that number, to enjoy the spending of that number, you know, you could talk about it in many different ways. But that lack of clarity around save so you can retire just leaves us kind of lackluster. Well, what can I do? What am I going to do? How does that relate to all of the things? The bigger issue of why retirement planning is blank and nobody's sharing, I guess, or why it's bothering you and you don't know what to do. is because there is a disconnect between what actions can I take now to help me achieve retirement, you know, help me get to my goal of retirement, while saving. We've got to save. We've got to set it aside.
We've got to wait for it to grow. We've got to wait for it to be, you know, the timing. 401s, you have to be 59 and a half. There are some stipulations at 55. Just going to throw that in there. But while that is happening, right, they kind of leave you hanging. And I think that's the bigger problem is we are unsure what is retirement planning and what can I do now to help me get closer to my goal. You desire this really good retirement. I hope you do. And you deserve it after all of the years you've worked. And really, you're just like, I wish I knew what steps to take. What can I do? What can I do while I'm waiting for that savings to grow? You know, we're told to, you got to do the work, you got to put in the work to get the reward.
And so leaving us just saving is really not allowing us to do any work. This episode, I have three steps to start your retirement planning process. Step one, get your current finances in order so you know how much you spend, which helps you know how much you'll need. You have got to understand what is going on with your money in your current financial situation. Knowing how much you spend, where you spend it, how you spend it, why you like to spend it, all of those things will help you calculate how much you're going to need.
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Chapters
5 chapters
1
What is retirement planning and why does it feel so unclear?
0:00–1:37
2
Why is simply being told to 'save and retire' leaving people anxious?
1:37–2:49
3
What three-step framework will start my retirement planning today?
2:49–5:52
4
How do I get clear on my current finances and monthly expenses?
5:52–11:01
5
How should I define my ideal retirement and choose a timeline?
11:01–13:28
Speakers
2 identifiedMore from Wealthy After 40: Retirement Planning and Budgeting for Gen X
How to Overcome Retirement Decision Overload
How to Travel Cheap in Retirement and Still Hit Bucket List Trips w/ Jillian Sidoti
Retire Confidently With a Money System That Works
Retirement Planning for Gen X: 4 Things to Map Out Now
4 Signs of Quiet Financial Stress That Delay Retirement
Why Do You Fear Retirement? The Answer Might Surprise You