Answering my kids' questions about retirement

Answering my kids' questions about retirement

A Q&A on retirement saving, liquid savings, Social Security and managing debt

I get questions from time to time about retirement strategies from my own children. They’re all young working adults, and they are starting to navigate the world of saving and investing - and they have plenty of questions about Social Security. So on this edition of the podcast, I invited my kids to send in their questions about retirement - and a couple that came in from my nieces. 

The questions:

  • How should I balance my saving in retirement accounts and other savings that can be accessed for emergencies or other spending needs?

  • How can I save for retirement if I don’t have access to a 401(k) plan?

  • How can I save for retirement while also making socially-responsible investments?

  • Should I worry about the future of Social Security?

  • How will my Social Security benefit be calculated?

  • When does it make sense to accelerate mortgage payments?

  • Looking back, what do you wish you had known about retirement when you were in your twenties or thirties?

One thing I’ve noticed about young people is that they really are thinking ahead about retirement. That’s more than I can say for myself at that age. And there’s nothing more powerful than getting an early start on saving.

This will be the last newsletter and podcast of 2022 - I’ll be back right after New Year’s with the first installment of a six-part series on the key ideas in my new book, Retirement Reboot: Commonsense Financial Strategies for Getting Back on Track. The book goes on sale January 10th, and it’s already available for pre-order everywhere. 

Click the player icon at the top of the newsletter to listen to the podcast. You also can subscribe on Apple Podcasts or Spotify - just search for “Retirement Revised.”

Background reading for this podcast

Blackrock’s pitch for sustainable investing antagonizes all sides . . . The hidden cost of IRA rollovers . . . Seven tips for young retirement savers . . . Towards a new social insurance era . . . Should you pay off your mortgage?

Journalist and author Mark Miller on getting retirement right - featuring downloadable guides and podcast interviews with nationally-recognized experts.