Retirement is often seen as a simple financial milestone, but the truth is, it involves much more than just saving enough money. In this episode of Financial Foundations, brought to you by Base Wealth Management, our hosts Dustin Taylor, Alex Wolfe, and Kyle Howell dive deep into the complex reality of retirement planning.

We start by addressing one of the most fundamental yet misunderstood questions: How do you know when you’re actually ready to retire? Our discussion goes beyond financial readiness to cover emotional and lifestyle considerations that often get overlooked. We explore why retiring “to” something rather than “from” something is crucial for a fulfilling post-career life, and how defining your ideal day in retirement can shape your financial plans.

You’ll learn about the emotional and psychological adjustments many face when leaving the workforce, the fear of drawing down from your savings, and how to navigate these challenges with a flexible plan. We also discuss strategies to prepare for shifting income needs, the importance of having multiple sources of retirement income, and how to withdraw funds in a tax-efficient manner.

Our conversation also covers market volatility and sequence-of-returns risk, explaining how the timing of market downturns can dramatically impact your financial future. We discuss popular guidelines like the “4% rule,” why it may not work for everyone, and other sustainable withdrawal strategies.

Listen in to hear why early planning, starting as soon as your late 40s or early 50s, can make all the difference. Learn about the tools, like Monte Carlo simulations, used by financial planners to anticipate different market scenarios and adjust your retirement strategy accordingly. If you’re thinking about retirement, this episode offers practical insights to help you plan for a future that’s not just financially secure, but also personally fulfilling.

For more information, visit our website at basewealthmanagement.com, or send your questions to question@basewealthmanagement.com.