4 Things To Know About Retirement Planning
episodePreviously titled “Ep 139 | 4 Things To Know About Retirement Planning” — renamed by the publisher on Aug 2, 2026
Wealthy After 40: Retirement Planning and Budgeting for Gen X
13 min
1 speaker
8 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
Am I doing enough for retirement beyond saving in a 401(k)?
Are you doing enough for retirement? Because retirement isn't just about saving money. It's about building a life you want to live. And if you're unsure where to begin, today I'm walking you through four things you need to know about retirement planning that go beyond just contributing to your 401k. 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. So you've most likely been saving here and there and contributing to a 401k, but then deep down you're wondering, what else do I need to do? How else do I need to prepare for retirement? Then you search things to know about retirement planning, but you probably got lost in the Well, I'm going to help you sort that out today. But before I do, I have a retirement checklist with six areas of retirement planning, specific steps so that you don't get lost in the jumble that make sense and can help you plan in all of the areas necessary for retirement.
So be sure to download your copy at elevatefinances.us backslash checklist. All right, the truth is retirement planning isn't just about how much you saved.
Why is starting retirement planning early important for control and freedom?
It's about how clearly you've defined the life you want and if your money is aligned with that vision. It's really about creating the life for the next phase. As I love to say, that retirement doesn't mean it's the end. It's probably the end of your regular go-to work job, but it's definitely the next phase. And retirement doesn't start at 65. It starts with a plan. So that's the first thing I want to talk about is starting with a plan. And if you wait until you're, quote, closer to retirement, this can cost you years of progress, years of planning, because the earlier you start planning intentionally, the more control you have over your timeline and the life you want to live. So I love that word control, but honestly, it's much easier to make informed financial decisions if you have that control.
So if you start planning early, that's how you find that control. Having control helps you navigate all of the financial decisions that are coming up before retirement. Because heck, we know at this age, life can be lifing in so many different ways. But if you start early enough, have somewhat control, you're able to take a right, take a left, stay on your path without any big hiccups. So if all you're doing is saving and not considering all the other aspects of retirement planning, you will either be one of two things, if not both. You will either be unhappy, and I hear about that all the time, or you will be unsuccessful.
How do I create a practical retirement timeline with desired, realistic, and absolute last dates?
And both of those terms can look many different ways for many different people. But the key for you is starting retirement planning early. So planning for all aspects of retirement can be daunting. So I want to encourage you to not wait until the last minute. Because you've got health insurance, you've got social security if you're going to be at that age, and you've got to think about, do I do it now? Do I do it later? And as you've just got all of these things coming on, it's better if you get started sooner. And thinking about everything as a whole helps you not leave anything on the table, not missing out on opportunities. And overall, honoring yourself who deserves such a wonderful retirement.
You've worked hard to get to this spot. Why just say, I'm just going to retire? Why are we not giving it the thought, the effort, the planning that it deserves, that you deserves? So I want you to start thinking about the overall vision.
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Chapters
8 chapters
1
Am I doing enough for retirement beyond saving in a 401(k)?
0:00–2:06
2
Why is starting retirement planning early important for control and freedom?
2:06–4:05
3
How do I create a practical retirement timeline with desired, realistic, and absolute last dates?
4:05–5:25
4
How does my current lifestyle shape my retirement lifestyle and expenses?
5:25–6:09
5
What small budget and spending adjustments compound into bigger retirement results?
6:09–7:37
6
How do I calculate my FI (financial independence) number using a retirement vision?
7:37–9:27
7
Why is retirement a lifestyle shift rather than simply stopping work?
9:27–10:50
8
How can I get help creating a Retirement Roadmap and next steps to take today?
10:50–13:51
Speakers
1 identifiedMore from Wealthy After 40: Retirement Planning and Budgeting for Gen X
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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