#487 - The 8 Pillars of Rocking Retirement: Financial - Resilience and Optimization

Rocking retirement requires getting your financial and nonfinancial ducks in a row. As we work through the 8 pillars of rocking retirement this month, we’ll explore both the financial and non-financial elements of retirement. This week, we’re reviewing the resilience and optimization stages of the financial side of retirement.

If you didn’t listen to the previous episode, make sure to go back and do so first to about the first two financial pillars. In this episode, we’ll be reviewing the next two: resilience and optimization.

Create your financial foundation before attempting to optimize your plan

Many people love to jump straight to the optimization step of financial planning since that’s where the more exciting aspects of financial planning happen, but after listening to this episode you’ll understand why it is so important to make sure that you have the first three steps of financial planning locked in before jumping into optimize your retirement plan.

Once you visualize your ideal retirement and get a feasible plan, make it resilient. It is essential to make your retirement plan resilient so that you can account for the things that could happen. To do this, assess the risks that are out there. Stress test your plan against a bear market, sequence of return risk, a spouse passing prematurely, and other potential what-ifs. Discover what you should be looking out for to make your plan resilient and get it optimized