Tag: Retirement Goals

How to Retire into a Dream Job: The Emotional Nature of Retirement | Ideas by Mike™ Ep. 52
How to Retire into a Dream Job: The Emotional Nature of Retirement | Ideas by Mike™ (Ep. 52)

How to Retire into a Dream Job: The Emotional Nature of Retirement | Ideas by Mike™ (Ep. 52)

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In this latest episode of Ideas by Mike™, Dr. Ives Machiz, PhD, CFP®, a fee-only pioneer, shares lessons from 4 careers on retiring into purpose. Learn how coaching and financial education build self-sufficiency & reduce anxiety.

Join Ideas by Mike™ host Mike Milligan, CFP® & Dr. Ives Machiz, PhD, CFP®, a clinical assistant professor and financial planning pioneer, shares the wisdom gained from his extraordinary four-part career: founding a fee-only firm in the 1980s, teaching high school, navigating a family business exit, and earning a PhD.

They both tackled and discusses the emotional nature of retirement and business transitions, the core lessons of self-sufficiency from coaching basketball, the relationship between financial education and health, and the advisor’s critical role in building client trust to mitigate financial anxiety.

This episode offers essential retirement advice for pre-retirees seeking to leap from working to living a one-of-a-kind life.

 

Key Takeaways:

  • Objective Advice Requires Total Alignment: True fiduciary planning centers entirely on the individual’s specific long-term goals rather than a high-pressure push for a specific item, commission, or asset product.
  • Master the Fundamentals First: Successful retirement planning is built on basic, non-glamorous behaviors: consistent long-term saving, clear spending budgets, and maintaining discipline through fluctuating financial environments.
  • Transitions Are Emotional First: Selling a business, leaving a job, or entering retirement forces individuals into an identity vacuum. You must establish a clear plan for your lifestyle and purpose before executing the final financial liquidation.
  • The Inherent Value of a Third-Party Fiduciary: Much like medical professionals who refuse to treat their own families, everyday investors need neutral professionals to remove toxic emotion from highly personal wealth decisions.

 

About our Guest:

Dr. Ives Machiz, PhD, CFP® earned his doctorate in Personal Financial Planning from Kansas State University. He is currently a Clinical Assistant Professor in the personal Financial Planning program at Arizona State University. (Source link)

Connect with Dr. Ives on LinkedIn

 

Subscribe to our YouTube and Tune in to find your starting line!

Also Get the Book “The One of a Kind Financial Plan” on Amazon: https://a.co/d/hAOPAgM

#moneymanagementpodcast #financialplanningpodcast #Finance #Inflation #RetirementPlanning #EconomicHistory #IdeasByMikePodcast

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How to Live a One-of-a-Kind Life (Ep.21)

How to Live a One-of-a-Kind Life (Ep.21)

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Ever faced a mountain and thought, “I can’t do this?” This episode serves as a way to combat this thought.

As the calendar turns to 2025, Mike Milligan recounts an incredible journey to Peru’s Rainbow Mountain and draws parallels to the journey of retirement planning. Learn how each individual step, supported by a trusted guide, can lead you to breathtaking highs in your financial life.

Mike shares the importance of personalized financial planning, exploring the value of having an experienced guide in crafting your unique financial path. With stories of breathtaking adventures and overcoming limits, he ties these experiences back to helping you achieve the retirement of your dreams. 

Key discussion points include:

  • The significance of taking small, consistent steps in retirement planning (10:00)
  • Understanding how personalized plans can lead to unique financial experiences (14:59)
  • Get to know the team behind Ideas By Mike™ and how they contribute to crafting individualized plans (16:30)
  • The power of asking “What makes you one of a kind?” in developing a personal financial strategy (19:00)
  • And more!

Resources:

Connect with Mike Milligan, CFP®:

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Tips for Strengthening Your Retirement Income Strategy (Ep. 6)

Tips for Strengthening Your Retirement Income Strategy (Ep. 6)

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Paychecks do not need to stop in retirement…

With the right financial plan, it’s entirely possible to keep those “paychecks” coming, even after you stop working.

This week on Ideas by Mike™, Mike Milligan, CFP®, dives into the second critical element of the Ideas by Mike™ one-of-a-kind financial planning process, retirement income. Highlighting personal experiences and historical insights, Mike unveils actionable steps to help secure your financial future without fear of running out of money. 

Mike discusses: 

  • The first step of his one-page financial plans, tax planning, and how retirement income planning builds off of that
  • Different methods to help you obtain consistent retirement income
  • Historical insights into the evolution of pensions and retirement systems
  • Innovative tools such as income forecasters that the Ideas by Mike™ team uses to alleviate financial fears for retirees
  • And more!

Resources:

Connect with Mike Milligan, CFP®:

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This is Tax Planning (Ep. 5)

This is Tax Planning (Ep. 5)

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Did you know that over 56% of Americans now feel they pay more than their fair share in taxes?

This frustration is only growing. 

So, let’s dive into how you can approach tax planning to keep more of your hard-earned money!

Join Mike Milligan, CFP®, as he unpacks the history of taxes in the United States, the impact of tax planning on your financial future, and practical steps to take control of your tax liabilities. Follow along to hear about the partnership Ideas by Mike™ has to help you navigate your tax situation and how their holistic approach could help you reach your retirement goals.

Mike discusses: 

  • The historical context of tax rates in the United States and their current implications
  • How tax planning is the foundation of all real financial planning
  • The top 3 frustrations surrounding tax obligations
  • How their partnership with Holistiplan provides clients with comprehensive, personalized tax planning strategies
  • And more!

Resources:

Connect with Mike Milligan, CFP®:

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