066 Dana Anspach: Juicing Your Retirement Plan

About Fun With Annuities Episode #66

Drumroll… This week's Fun With Annuities celebrity co-host is Dana Anspach, one of the country's most respected retirement and investment minds. In addition to her lengthy bio listed below, she has created unique client strategies to manage their money. Dana was born in Iowa but graduated from the University of Florida. She rides a soft-tail slim Harley Davidson in her spare time. Don't we all want our mad-smart financial advisor to ride a Harley!?

One of her approaches is "Juicing Your Retirement Money," which she explains in detail in this podcast. She also has four specific strategies for approaching and using the 4% rule for retirement income which we discuss in this week's episode #66. Need another reason to tune in? We are all familiar with "accumulation" strategies for the growth of a portfolio. Still, Dana is an expert on "decumulation" for retirement planning so people can maximize "Chapter 2" of their lives.

Dana's no-nonsense yet creative approach is refreshing in a stagnant world of financial advice. We discussed the current markets, interest rates, and the popularity of cryptocurrency, and where she thinks, that is headed. Her fresh take on blockchain technology and cryptocurrency is another juicy nugget in this podcast.

Having Dana on my podcast is like having Michael Jordan on your basketball team. All I had to do was throw her the ball and sent it from downtown. I just got out of the way and let Dana educate us on all things money.

PS - I would encourage you to take Dana up on her offer to have a free consultation with her team. Maybe "Retirement Juicing" is the perfect strategy for you. It's worth finding out.

Brief Bio on Co-host Dana Anspach:

This week’s celebrity co-host is Dana Anspach, the founder and CEO of Sensible Money, one of the nation’s leading experts on retirement planning and decumulation, and someone that I have been a huge fan of for years. There are plenty of advisors who will manage your money but where Dana and Sensible Money distinguish themselves is they recognize that there is a different type of planning needed to align your finances for a transition out of the workforce. She was named to Investopedia’s Top 100 Most Influential Advisors list for three years straight. This award is given to those who are making significant contributions to advancing financial education and in my mind she is one of the best.

Dana is the author of multiple widely acclaimed books that I highly recommend including, “Control Your Retirement Destiny: Achieving Financial Security Before the Big Transition”, and “Social Security Sense: A Guide to Claiming Benefits for Those Age 60 – 70” and her online course, “How to Plan The Perfect Retirement”. She is a much sought-after writer on retirement-related topics, including contributions to MarketWatch and US News & World Report. You can follow Dana on Twitter and the Sensible Money Team on the Sensible Money YouTube channel and Twitter page.

In this episode, The Annuity Man and Dana Anspach discuss:

• Juicing your retirement money
• How can you know if you’re “retirement-ready”
• What are some things you have to consider when setting up your retirement plan
• The four percent rule

Key Takeaways:

• Don’t underestimate what more you can juice from your retirement plan. You might very well end up with hundreds of thousands of dollars by the end of it.
• You need to know what the risk factors are in the decumulation phase.
• Calculating the bigger picture of your retirement will help you make decisions that increase your probability of success and have peace of mind in the future.
• Reality is that you can’t spend just a solid percentage in your retirement fund, there are circumstances that would have to be accounted for - like needing to buy a car, or having a health issue in the family.

"People are so focused on accumulating assets, which is relatively easy compared to the math you have to solve when you start drawing money out.” — Dana Anspach

Fun With Annuities® Podcast is hosted by America’s Annuity Agent®, Stan Haithcock, The Annuity Man®. Hear brutal annuity facts with no sales pitches from the top independent agent in the country, licensed in all 50 states. Author of 7 books, Stan dives deep on all annuity types and strategies. It’s fun, learning the contractual truths on how annuities actually work and if they’ll fit your personal retirement lifestyle.

Listen in on how you can be livin’ the reality, not the dream®. Listen and subscribe on Libsyn, Stitcher,Apple Podcasts, Google Podcasts, Amazon Podcasts, and Spotify.