84: Traditional Retirement: Social Security, Market Conditions & Managing Expectations with Kyle Mast

Kyle Mast first visited us on Episode 41 of the BiggerPockets Money Podcast, and he BLEW US AWAY with his suggestions, ideas, tips and tricks for early retirement. Kyle is back again today to talk more to traditional age retirees - those of us who are retiring at or near age 65. Retiring now can seem scary - the market is near all-time highs and has been so for a very long time. Markets are cyclical and unpredictable. Kyle shares how to ride out the storm with strategies to manage both behavior and emotions. He’s a big fan of Retirement Fund Dates - but not of putting all your retirement eggs into one fund-date basket.  Kyle also looks at Social Security and covers several scenarios to help you decide when to start receiving your benefits.  Kyle is a fee-only Certified Financial Planner - and this episode shows time and again just how valuable a consultation with a CFP can be. If you’re nearing traditional retirement age - and you’re not quite sure what’s next - THIS episode is especially for you. Topics:How to set up portfolio transitioning to traditional retirement ageOn managing behavior and emotionWhat a bucket strategy isSequence of returns riskDelaying social securityOn claiming social securityIncome limitation for social securityThe importance of having an understanding of social securityWhat people look for when finding a financial plannerDesigning lifestyle and expectation around spendingHow to plan your expenses on retirementWhat a long-term care insurance isOn having a long-term cafe insurance with golden policyOn target date fundsIdentifying your own risk tolerance