Podcasts

RH 030 Countdown to Retirement and Magic Hat #9

Show Notes

Retirement Segment

  • Our guest is recent retiree Lee Walsh of Raleigh NC
  • Lee is a former telecom engineer
  • Our topic comes from an AARP article about what you should do 5, 3 and 1 year – a countdown to retirement
  • 5 years away
    • See where you stand financially.
      • This is a good time to use a high level summary retirement calculator like Vanguard’s Nest Egg.
      • You can apply the rule of 25 X. Take your annual expenses and multiply them by 25.That’s how much you should have saved – at minimum.
    • Pad your nest egg.
      • Maximize contributions to employee sponsored plans such as a 401 k
    • Pay down mortgage
      • Paying more interest can help with taxes
    • Invest conservatively but not too conservatively
      • Stay invested in stocks to guard against longevity risk and as a hedge against inflation
    • Avoid getting fired
      • 47% end up retiring sooner than planned
      • Make yourself valuable – take on extra assignments
      • Mentor younger workers
      • Have a rainy day fund to cover you if you have to job search
    • 3 years away
      • Use a detailed retirement calculator to customize results to your situation
        • Update it annually
      • It’s important to budget and the key to budgeting is documenting what you spend
      • Check up on your Social Security
        • Have a strategy for when to start benefits, i.e. early reduced benefits at 62 vs. full benefits at full retirement age vs. increased benefits (by 8% a year) if you delay receiving benefits beyond full retirement age
        • Outliving one’s savings is the number one risk of retirees. Social Security is an insurance program. The longer you wait to start benefits, the more you reduce your longevity risk.
        • Be sure to apply for Medicare at age 65
      • 1 year away
        • Test drive your budget – try living on your retirement budget for 6 months.
        • Consolidate accounts – move any 401 k or IRA accounts from previous employers’ plans into your brokerage account for better control and more options.
        • Take advantage of health insurance – get things taken care under your employer sponsored health insurance before you leave.

Beer Segment

The beer segment begins at the 17:00 mark.

countdown to retirement

  • The beer selection came from our guest Lee – Magic Hat #9
  • The Magic Hat brewery is in Burlington, Vermont
  • Each bottle cap contains a saying – sort of like a beer fortune cookie.
  • They produce 175,000 barrels annually
  • Magic Hat is owned by Florida Ice and Farm Company which itself is headquartered in Costa Rica
  • ABV is 5.1 with 20 IBUs. Available year round.
  • Our bottle caps read: Milk a cow until it says wow; I love a hoppy ending; and Imagination is more valuable than money.
  • Thin head, floral, hazy
  • Good aroma, kind of floral and fruity
  • Can definitely taste the apricots
  • Lee’s into fruity beers and considers #9 a treat
  • Roy and I would drink it once in awhile
  • Overall impression is that it’s a good beer

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