Investing can feel like a battle between two polar opposites within us, the rational and the emotional, just like the classic story of Dr. Jekyll and Mr. Hyde.

This week, Dr. Jekyll and Mr. Hyde are our model investors, and we’re talking you through the spooky story of the risks, emotions, and rational strategies involved in long-term investing.

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📰 See the full show notes here

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Outline of This Episode

• [03:06] Dr. Jekyll and Mr Hyde's wildly different investment strategies
• [06:00]Strategies that help mitigate emotional reactions during elections and global crises
• [07:38] Balancing short-term market volatility with a long-term investment perspective
• [10:37] How to stay aligned with long-term goals in the face of market downturns
• [13:28] Diversification to manage risk in an investment portfolio
• [14:17] Psychological factors that cause investors to feel more confident during market upswings
• [15:35] Automating your investment and savings strategy to prevent emotional decision-making

Reaching your financial goals builds confidence and peace of mind, which are essential for making informed decisions that benefit your entire family.

In this episode, we’re following a fictional pop culture couple from newlywed to pre-retirement, to demonstrate how their thought process around an emergency fund could evolve with their changing circumstances.

Join us as we lay out a case study of planning that helps them balance their accessible wealth with a healthy emergency fund.

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📬 Download your Free Retire On Purpose Guide here.

📰 See the full show notes here

🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement

Retirement, a phase many of us anticipate for a long time, comes with its own set of financial intricacies. Specifically, how do you effectively withdraw funds from your savings to ensure a comfortable, sustainable, and tax-efficient lifestyle?

A well-crafted retirement blueprint is essential. This plan should outline your long-term goals and the steps needed to achieve them. More importantly, your financial plan should be flexible enough to accommodate life's unexpected expenses, such as healthcare costs or home repairs. Revisiting and updating your blueprint annually—or when significant life changes occur—can help ensure you stay on track.

In this episode, we’re sharing the essential steps to develop a retirement withdrawal plan that caters to your needs. We dig into which accounts to draw from, how to minimize taxes, and how to manage unexpected expenses. You'll also learn about advanced strategies like Roth conversions, tax-loss harvesting, and the benefits of Qualified Charitable Distributions and Donor-Advised Funds.

• [5:06] Your options for retirement tax strategies
• [8:32] Utilize early years to make strategic financial moves
• [11:30] Plan your retirement for peace of mind
• [17:12] Lower RMDs with Roth conversions and reduce the tax impact
• [19:42] Consider tax loss harvesting, capital gains, heirs' basis
• [21:30] Use a QCD to reduce taxable income
• [26:12] Exploring blind spots in retirement withdrawal strategies

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