How much money do you need to retire comfortably? If you said, “$1 million,” then you are probably wrong. That old, “$1 million retirement,” estimate is a generalized saying and was probably coined in the 1980s. If you haven’t been thinking about your retirement future, you should now. So, I will list the best retirement podcasts in 2020 in this article.
It’s important to remember that retirement is not a destination, it’s a journey.
A retirement is an elderly lifestyle budget, to put it bluntly. It is meant to last throughout a retirement and not just start one.
When we think of money, or particularly personal finances, we have to consider many things like:
- Cost of living expenses (rent, bills, food, etc.)
- Living wages
- Healthcare costs
- Supplemental income
If the $1 million retirement was coined in the 1980s, then you must consider inflation and the facts that the cost of goods and services increase all the time.
You probably need $3 million to live out a practical retirement in a large, metropolitan city with a high cost of living.
About a half of Americans have less than $10,000 saved for retirement. Another 1/3rd of Americans has zero saved for their future retirement. Not enough Americans are taking the need to plan for retirement seriously.
It turns out that you can learn a lot about retirement if you listen to podcasts.
There is no doubt about it. The time to think about retirement is now.
Here are 4 of the best retirement podcasts in 2020 you should be listening to.
The Retirement Man Answer Show
The Retirement Man Answer Show is a podcast hosted by Roger Whitney and is based in Houston, Texas. Whitney is a Certified Financial Planner with over 25 years of professional experience.
Whitney is dedicated to helping people become financially literate and take charge of their financial futures.
However, his main inspiration to launch The Retirement Man Answer Show podcast was the tragic death of his mother.
So, Whitney launched his podcast to help people realize that they must change how they work and save money now.
Especially so as to prepare for their future retirement.
Whitney discusses income generation, wealth creation, pensions, the importance of healthcare expenses, the need to live in the moment.
It’s one of the best retirement podcasts in 2020 because it is insightful and full of helpful information.
Retirement Starts Today Radio
Another one of the best retirement podcasts in 2020 is Retirement Starts Today Radio. It is hosted by Benjamin Brandt.
Benjamin Brandt is a Certified Financial Planner and the President of Capital City Wealth Management located in Bismarck, North Dakota.
Brandt regularly discusses topics like:
- Scams that target senior citizens
- Exorbitant healthcare insurance
- Retirement planning
- 401(k)
- Social Security
- Retirement challenges
Brandt usually discusses these topics on his own, but also interviews renowned financial experts on retirement preparation.
Brandt is regularly featured as a finance and retirement expert on CNBC, Business Insider, HuffPost, Forbes, and numerous other news outlets.
The Money Guy Show
The Money Guy Show is hosted by two guys who really want you to begin thinking differently about your finances and retirement.
The Money Guy Show is hosted several times a week Brian Preston and Bo Hanson. Both hosts are Certified Financial Planners and experts in financial and retirement planning.
Preston is a former bus driver and Georgia politician. Hanson has been involved in professional financial counseling most of his life.
Both men have been featured in BankRate, The Wall Street Journal, Yahoo Finance, Kiplingers, Forbes, Fox Business, and numerous other news outlets.
Hanson and Preston regularly discuss topics like:
- Dangers of unrestrained debt accumulation
- Why people opt for debt instead of increased income generation
- The illusions of the wealthy
- Importance of pensions
- How to generate wealth and keep it
Preston and Hanson provide insightful, entertaining, humorous, and always educational commentary on personal finance and retirement.
Give it a listen and you will agree it is one of the best retirement podcasts in 2020 you will ever hear.
New Retirement Podcast
Steve Chen is an entrepreneur, finance expert, and the host of the New Retirement podcast.
Chen created the New Retirement podcast to help people create their own do-it-yourself planning for their own retirement futures. He has financial experience working at Wells, Fargo, JP Morgan and Schwab.
According to Chen’s personal life philosophy, too many people depend on the non-customizable advice templates of finance professionals. Instead, they should adapt such advice to their own personal finance situations.
You can only improve your own personal finances, and retirement future, by being involved in your own retirement plan, according to Chen.
The New Retirement podcast has over 1,000 articles and 30,000 dedicated site followers.
Plan Early and Carefully
Start planning for your retirement as early as possible.
Consult with a financial advisor and make a customized retirement plan.
Remember, you must create a retirement plan based on your needs. You can’t just follow a generalized metric like needing $1 million for a retirement.
Depending on where you live, $1 million may not last for 20 years or 30 years of retirement.
How much money you will need to last throughout a retirement depends on your personal circumstances.
Here is a list of other great retirement podcasts you can check out.
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Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.