336. Potter "Is 1 Million Dollars Enough for Retirement?"

Is there a magic number for retirement? In this episode of Future Rich, CFP® Barbara Ginty sits down with our podcast producer, Potter, to break down the realities of retirement planning and why a 1 million dollar goal might not be enough for retirement. They discuss:Importance of knowing your exact retirement expensesThe impact of taxes on retirement savingsHow to estimate your withdrawal rateThe significance of debt-free retirementAdjusting investment strategies for the "distribution" phase of retirementPlanning for variable expenses like healthcare and home repairsThe role of Social Security and pensionsTiming your retirement for health insurance benefits If you'd like to be a guest on the podcast, we are looking specifically for women who want to discuss their personal finances and have questions about retirement planning, Social Security, and more.💌 DM us on Instagram (@futurerichpodcast) or apply here. Let’s make it happen! ✨ #FutureRichPodcast**All of our newsletters have moved to Substack, so subscribe if you want to keep in the loop with all things Future Rich!Subscriptions are FREE!Subscribe to our YouTubeFollow us on TikTokFollow us on Instagram Visit the Future Rich Podcast website for Financial Freebies and ClassesLeaving reviews on the podcast is the best way to boost us on the podcast platforms and help more listeners get #FutureRichDownload a free guide today to help plan your financial future! The content in this podcast is for informational purposes only. All investment strategies and investments involve risk of loss. Nothing contained in this podcast should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit. Advertising Inquiries: https://redcircle.com/brands