Turn Reflection into Action for a Retirement Ready Year
episode
Wealthy After 40: Retirement Planning and Budgeting for Gen X
16 min
1 speaker
3 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
How can a year-end reflection set the stage for a retirement-ready year?
It's the end of the year, well, almost, and it really depends on when you're listening to this episode, but I thought, what a great time to reflect, but with purpose. This episode will walk you through a simple year-end review to help you step into the new year with clarity. So let's do this. Thinking about what's fueling your retirement and what's not. Thank you. 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
that works for your life now and later.
Why is defining a clear retirement vision the first step to progress?
So grab your favorite drink, settle in, and let's figure this out together.
Welcome to the episode. I'm excited to take you through a reflection. I know sometimes people are like, oh, but I really hope this will help you see how far you've come and an area that you could actually get some momentum in as we move into the new year. So really thinking about your retirement and what's fueling it and what's not, meaning what is actually helping you find momentum, what's working for you, and really what's not. Honestly, the very first thing that I want anybody to do, so I'm just going to start off with it, is you need to have a clear vision. OK, or mostly a clear vision. If you're somebody who's more than 10 years away, you can still be a little foggy in some areas. But I really want you to define your revision, define your vision for retirement.
Knowing what you're headed to, knowing what you're going to do when you're punching the time clock or whatever it is you're doing is done. Maybe it's another venture. Maybe it's something completely different. Or maybe it's just laid back, low key. It doesn't matter.
What analogy explains small problems that undermine retirement momentum?
It's yours. And I want you to lean into that. So starting there. That gives us our destination. So when I talk about what's fueling your retirement, there's a... So my husband loves to buy older vehicles, fix them up, sell them, flipping. It's not that huge magical that you see like the real old classics and really bringing them up to a tee, but he loves to tinker, make them run again, paint them up, do different things. We've had trucks and bugs and Rangers and Jeeps, and we've got some S10s right now. I don't know. But my daughter, when she came along, has also joined in the fun. And her recent fixer-upper, as she always loves to have that extra vehicle, that one that's going to make it from point A to point B most of the time, it's been throwing a code.
And so she's throwing this code. They thought it was the gas cap because there's air in the system giving them this code. And she's still able to drive it, but get that check engine light and you don't want to ignore it. So you're addressing it. And it stopped it for a little bit. Let's come back again. And so through, I guess, Reddit, YouTube, I don't know where they go for their information. They've determined that really there's this really small gap in the neck of the tank that from like a weld part going bad. So you're probably wondering why I'm sharing this with you, but talking about that is where her fuel is. This air is causing this problem and it's nothing big. And that is what I want you to take away from this story is that little crack might be relative to what you're experiencing as we go through this review to what is not fueling your retirement.
It might just be this little crack and waiting for that perfect time to fix it may not be what you want to do. So let's dive in and get you through thinking about your retirement progress. So I want you to think about yourself January 1. I'm going to have you do a complete vision in just a minute. But I want you to think about the past year, back to January 1. What has been working? And I'm going to give you a couple of ideas and then I'm going to read some questions. So maybe you've been consistently saving an amount, nothing big, nothing grand, but consistent.
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Chapters
3 chaptersSpeakers
1 identifiedMore from Wealthy After 40: Retirement Planning and Budgeting for Gen X
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