Oct 7, 2026 · 13 min · 8 segments
In this episode of the Pre Retirement Navigated Podcast, host Will Hoffman discusses the critical aspects of financial planning leading up to retirement. He emphasizes the importance of understanding…
Will HoffmanHost
But what we are talking about is what changes in retirement because listen, when you're working, it's easy.
Your taxes are withheld based on how you filled out your W-4, and your check is delivered.
The contributions are made to your 401(k), your benefits are all paid for out of that check.
You may even get a calendar at the beginning of every year that tells you, "Here's the paydays for the entire year." And on that first Monday of retirement, guess what? The calendar's up to you to create.
So that's what this episode is about because that automatic system is over, and now we have to decide where it comes from because that system disappears.
And that shift is bigger than, than most people give it credit for, um, or give credit to it because folks have been so focused on a number, so focused on, on a date, so focused on an income range that they want to achieve.
But if your car note is due on the first of the month and your money's not showing up till the fifth of the month, you know, you don't want to start bouncing checks the week you retired.
So we're gonna get into the process that, that is available that's necessary to go through this.
Because an EBRA... an EBRI Twenty Twenty-Four Spending and Retirement study showed fifty-four percent of retirees said they were surprised by their actual retirement costs, and thirty-one percent spending more in retirement than they could comfortably afford, and that was up seventeen percent from twenty twenty.
Now, we know in the last, in those four years, there was a lot of inflation that, that gets credit there.
But the most common culprits there are irregular expenses and healthcare costs that weren't anticipated or modeled in advance.
So the best way to, to start figuring all this out and what needs to land when is an exercise called the twenty-four Month Cash Flow exercise, so that we can start analyzing what's coming in, what needs to come in, when it needs to land, and which account it needs to be deposited into so that you're not bouncing checks the first week in retirement.
But what we are talking about is what changes in retirement because listen, when you're working, it's easy.
Your taxes are withheld based on how you filled out your W-4, and your check is delivered.
The contributions are made to your 401(k), your benefits are all paid for out of that check.
You may even get a calendar at the beginning of every year that tells you, "Here's the paydays for the entire year." And on that first Monday of retirement, guess what? The calendar's up to you to create.
So that's what this episode is about because that automatic system is over, and now we have to decide where it comes from because that system disappears.
And that shift is bigger than, than most people give it credit for, um, or give credit to it because folks have been so focused on a number, so focused on, on a date, so focused on an income range that they want to achieve.
But if your car note is due on the first of the month and your money's not showing up till the fifth of the month, you know, you don't want to start bouncing checks the week you retired.
So we're gonna get into the process that, that is available that's necessary to go through this.
Because an EBRA... an EBRI Twenty Twenty-Four Spending and Retirement study showed fifty-four percent of retirees said they were surprised by their actual retirement costs, and thirty-one percent spending more in retirement than they could comfortably afford, and that was up seventeen percent from twenty twenty.
Now, we know in the last, in those four years, there was a lot of inflation that, that gets credit there.
But the most common culprits there are irregular expenses and healthcare costs that weren't anticipated or modeled in advance.
So the best way to, to start figuring all this out and what needs to land when is an exercise called the twenty-four Month Cash Flow exercise, so that we can start analyzing what's coming in, what needs to come in, when it needs to land, and which account it needs to be deposited into so that you're not bouncing checks the first week in retirement.
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