Kiplinger

83% help with groceries, 65% with cell phone bills, 46% with vacations, and roughly half of parents surveyed say they have sacrificed their own financial security to do it.

A Kiplinger study found 52% were cutting back on living expenses, 39% struggling to afford necessities, and 27% postponing their own retirement.

Now, Every financial advisor in America knows what to say here.

Put on your own oxygen mask first.

I'll name each one as we get to it.

And the first one is an article from AARP, followed by two articles from Kiplinger.

No other sources are being referenced today, so all the details and figures you'll hear come from those three.

But before we get going, let me bring in my co-host, Tony Schorrer.

What's next on the list of things we need to do financially to get ready for a storm?

Well, next, we weatherproof your income.

And for that, we're turning to an article from Kiplinger titled The Sequence of Returns Risk Could Shrink Your Retirement Nest Egg.

Sequence of returns risk.

Well, cool.

Yeah, we'll kind of transition now, Justin, to the article, and this comes from Kiplinger.

Yeah, that's right.

So the title is Finding Purpose in Retirement and Why Hobbies May Not Be Enough.

And, you know, we're going to start with risk management because you were talking about ages, whatever age you might be.

Well, across the ages, that changes, right? So a recent article from Kiplinger, Tom, talks about risk management in different decades.

of one's life, right? So time is on your side in the 30s and 40s.

We all know that, right? In a lot of ways, we feel like we've got a lot of time to accomplish some things maybe we didn't do earlier, maybe even outside of financial, but certainly financially, It's easy to do, right? Like in 2008, you know, we're talking almost 20 years ago at this point, 2007, 2008 downturn.

Uh, what we're talking through here today is, uh, I all shared it all.

I have an article in Kiplinger.

We'll put that in the show notes.

Uh, and we're talking through the, the article.

You might have had two or three different choices on if you wanted a low deductible or a high deductible.

Maybe you had the choice between if I chose this network or that network, you know, maybe, right? Uh, you kinda just picked the one.

But then around age 64, uh, whether you're working or not, you started getting a whole lot of mail, uh, about Medicare Advantage, Medigap plans, Part D drug plans, uh, even, uh, you're learning from Medicare about Parts A, B, and C. It's kind of a bit of, what is it that I do? What do I do when I hit that level? It's one of the top questions people ask me, which is why I wrote the article for Kiplinger.

And I get the confusion, I get the, uh, concern on what do I do.