How Intentional Decisions Shape Your Retirement Dream
episode
Wealthy After 40: Retirement Planning and Budgeting for Gen X
17 min
1 speaker
3 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
What if retirement wasn't just about having enough money, but about designing a life you're genuinely excited to live? Today we're talking about moving from surviving to thriving and how to make your retirement dreams become a reality. Hey there and welcome to Wealthy After 40. I'm Dailene Higgins, your podcast host and financial coach. If you're a Gen X woman or couple who's worried about retirement, maybe you feel like you're starting late or don't have enough saved. you're in the right place. This show is all about ditching the financial stress and creating a retirement plan that works for your life now and later. So grab your favorite drink, settle in, and let's figure this out together.
Welcome to the final episode of the series. This is part four or phase four of my retirement ready framework called Your Money Freedom. This is the culmination of all your efforts. This is where we are all wanting to get to. Money freedom. right, is your retirement. Money freedom means you no longer have to trade time for money. You get to if you want to, but getting to this point is all in phase four. So why is this phase different? And why is this the final phase of This phase, after you have built, you've got your reality, you've built your systems, and you've started understanding how to handle the decisions that come about in life for the now. Dealing with emergencies, family members, kids, spouses, job loss, like all of the things.
That was what is really going on in phase three is the here and now. and knowing how to navigate those and how those are not going to derail us. We've got to get a handle on those to then come to phase four, your money freedom. This phase is different because you're not just saving. You're not just paying off debt. You're not just trying to manage your money. You are shifting from autopilot or now living to intentional design, making intentional choices and building toward something specific. This phase is very crucial. This phase, in addition with this, The one question in phase one is very crucial and I think often overlooked. For those of us thinking about retirement, I didn't think about it. I did at the very end.
I realized how important it is to be prepared, to be living this life, to it's more than just the money. Money still goes on. So money in retirement is phase three. But to get to retirement, we have to be in phase four. Most people skip this step. They just figure if I just keep saving, if I just keep working long enough and get social security, if I just. And most of you are not even thinking about the possibility of retirement or declaring when you want to retire. We talk about that in the workshop. Now, the workshop's already happened, but there is another one coming up in April, August, and October. I would love to have you join me. You can learn more at elevatefinances.us backslash workshop, what that all entails, what the exact dates are, what the exact price is.
But that is phase one in a sense, but it also is a question that helps you shape phase four. So as you enter into phase four, you're moving into your money freedom. We talked about it being intentional. We talked about it building toward something specific. We have to start answering questions. Well, asking ourselves the questions first and then answering them. And some of those questions are going to be, what do you actually want retirement to look like, to be like, to all of those things? Now, for those of you who are like, I'm going to go travel. Great. Most people do. Most people don't understand why I don't want to do that. But what are you going to do Monday through Friday? That you're not working or I mean that you're not traveling.
What are you going to do? What is retirement going to look like? This is where you run into one of two things. If you're not being intentional, you sit in the chair all day, you get unhealthy and you pass away within a year. I know, pretty heavy.
What does 'money freedom' and phase four of Your Money Freedom mean?
I had a discussion with my brother. He retired from the railroad. It was his second retirement.
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Chapters
3 chaptersSpeakers
1 identifiedMore from Wealthy After 40: Retirement Planning and Budgeting for Gen X
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