Spending in Retirement - Ep 117

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In this episode, Justin and Jared break down the latest JPMorgan Guide to Retirement, exploring what real spending looks like for retirees today. They highlight the study’s most surprising findings and compare them with spending patterns they see among Oil & Gas professionals. Drawing from their own client data, they share practical insights into how retirement spending actually evolves—and what that means for planning a sustainable, confident retirement.

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Takeaways:

• The podcast emphasizes the importance of financial planning tailored specifically for oil and gas professionals, highlighting unique investment strategies and tax considerations.
• Listeners are encouraged to examine their retirement spending habits through the lens of recent research by JP Morgan, which reveals significant trends in retirement expenses.
• The show discusses the variation in retirement spending by income level, indicating that higher earners typically experience a reduced percentage of income needed in retirement.
• Listeners are reminded that managing taxes effectively in retirement can lead to substantial savings, underscoring the nuanced dynamics of retirement planning for oil and gas professionals.
• The episode highlights the significance of understanding healthcare costs in retirement, which tend to increase as individuals age, necessitating proactive financial strategies.
• Finally, the hosts urge their audience to consider the volatility of retirement spending, encouraging flexibility in financial plans to accommodate life’s unpredictable nature.

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Chapters:

• 00:33 - Understanding Retirement Spending

• 07:20 - The Landscape of College Football

• 10:04 - Transitioning to Retirement Spending

• 17:47 - Aging and Spending Trends

• 23:22 - Financial Planning for Retirement: The Importance of Taxes

• 29:52 - The Financial Realities of Retirement

• 40:31 - Understanding Client Perspectives on Spending

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Resources & Links

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JPMorgan Guide to Retirement

‍Disclosure: This information is for informational purposes only. Nothing discussed during this video should be interpreted as tax, legal, or investment advice. If you have questions pertaining to your specific situation, please consult the appropriate qualified professional.