Johns interviews Michael Finke, PhD and Professor at Texas Tech University and The American College of Financial Services about the challenges and opportunities for retirees today. With such low yields, increasing longevity and health care costs and potentially rises taxes, retirees faces a unique set of challenges, which can at times feel very daunting. Fortunately, given his extensive research, Michael shares a number of helpful insights for those looking to better invest and spend their money. 

During the episode, Michael talks about:
Income replacement rates, or how much a pre-retiree should actually be trying to accumulate based on their spending patterns in their working years
Safe withdrawals rates for retirees so they balance spending money from their investments without running amount of money 
Retirement happiness and ways in which spending can increase or decrease our happiness throughout life 

At the end, Michael also talks about how we should be vigilant about our aging parents, or even ourselves as we get older, since we often experience a lot of cognitive decline but rarely feel any loss of confidence in our old age. 

A big thank you to Michael for joining John on the show! 

For more information, you can check out https://www.theamericancollege.edu/our-people/faculty/michael-finke and https://www.thejohnchapmanshow.com/. 

Johns interviews Michael Finke, PhD and Professor at Texas Tech University and The American College of Financial Services about the challenges and opportunities for retirees today. With such low yields, increasing longevity and health care costs and potentially rises taxes, retirees faces a unique set of challenges, which can at times feel very daunting. Fortunately, given his extensive research, Michael shares a number of helpful insights for those looking to better invest and spend their money.&nbsp;
During the episode, Michael talks about:
<ul>
<li>Income replacement rates, or how much a pre-retiree should actually be trying to accumulate based on their spending patterns in their working years</li>
<li>Safe withdrawals rates for retirees so they balance spending money from their investments without running amount of money&nbsp;</li>
<li>Retirement happiness and ways in which spending can increase or decrease our happiness throughout life&nbsp;</li>
</ul>
At the end, Michael also talks about how we should be vigilant about our aging parents, or even ourselves as we get older, since we often experience a lot of cognitive decline but rarely feel any loss of confidence in our old age.&nbsp;
A big thank you to Michael for joining John on the show!&nbsp;
For more information, you can check out <a href="https://www.theamericancollege.edu/our-people/faculty/michael-finke">https://www.theamericancollege.edu/our-people/faculty/michael-finke and https://www.thejohnchapmanshow.com/.&nbsp;</a>

The John Chapman Show is your source for retirement strategies to help you better manage your time and money. Pre-retirees face some major headwinds: ultra low interest rates, high stock valuations, increasing healthcare costs and longevity, and the ever changing tax and estate laws. If you're planning to retire within the next 10 years, are you on track to attain financial independence? Host, John Chapman, is a CFP® and Partner at WorthPointe, a boutique wealth management firm helping clients get the most from life with the money they do have. For more information, you can check out www.thejohnchapmanshow.com. 

The John Chapman Show is your source for retirement strategies to help you better manage your time and money. Pre-retirees face some major headwinds: ultra low interest rates, high stock valuations, increasing healthcare costs and longevity, and the ever changing tax and estate laws. If you're planning to retire within the next 10 years, are you on track to attain financial independence? Host, John Chapman, is a CFP&reg; and Partner at WorthPointe, a boutique wealth management firm helping clients get the most from life with the money they do have. For more information, you can check out <a href="http://www.thejohnchapmanshow.com">www.thejohnchapmanshow.com</a>.&nbsp;

The John Chapman Show Podcast

Planning to retire in the next 5-10 years? Want to ensure you are retirement ready? 

The John Chapman Show is your source for retirement strategies to help you better manage your investing, tax, insurance and estate planning.  

Pre-retirees biggest risks lie in not just investing the wealth they’ve built, but also in maintaining an up to date and secure financial plan as life changes. 

As you make the final push in your working career, be sure to stay on track with your financial plan so that ultimately you get the MOST from life with the money you do have. 

Host, John Chapman, is a CFP® and Partner at WorthPointe, a boutique wealth management firm helping clients gain financial peace of mind.

Planning to retire in the next 5-10 years? Want to ensure you are retirement ready?&nbsp;
The John Chapman Show is your source for retirement strategies to help you better manage your investing, tax, insurance and estate planning.&nbsp;&nbsp;
Pre-retirees biggest risks lie in not just investing the wealth they&rsquo;ve built, but also in maintaining an up to date and secure financial plan as life changes.&nbsp;
As you make the final push in your working career, be sure to stay on track with your financial plan so that ultimately you get the MOST from life with the money you do have.&nbsp;
Host, John Chapman, is a CFP&reg; and Partner at WorthPointe, a boutique wealth management firm helping clients gain financial peace of mind.

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