So, You Want to Retire Soon | Retirement Talk Ep 5 – LaTour Asset Management

Thinking about retiring in the next year or two? In this episode of Retirement Talk, Jim Margraph and Josh LaTour dive deep into everything you need to know before taking the leap into retirement. From budgeting and mindset shifts to taxes, inflation, and investment strategy, this episode covers key areas that can make or break your retirement plan.

Discover why the 4% rule may no longer be reliable, how to manage taxes and healthcare costs in retirement, and why it's critical to work with a fiduciary who puts your best interests first.

Timestamps:
00:01 - Show intro and host updates
01:18 - Why you need cash reserves for unexpected expenses
03:33 - The decline in appliance durability and its financial impact
05:46 - Saving for emergencies and lifestyle changes
06:21 - First steps if you're planning to retire soon
07:16 - Budgeting for retirement and mindset shift
07:38 - The outdated 4% rule and individualized planning
08:28 - Why financial plans must be unique
09:41 - Transitioning from accumulation to preservation
10:23 - Moving from market growth to income stability
11:36 - Preserving wealth against market downturns
12:46 - The real cost of taxes in retirement
13:42 - Tax rates will rise — plan accordingly
14:32 - Inflation’s long-term impact on your plan
15:27 - The right mix of investments for retirement
15:51 - Why where your money is matters more than how much
16:10 - There’s no “magic number” for retirement
16:46 - The value of working with a fiduciary advisor
17:42 - When it may cost more to keep working
18:23 - What a fiduciary really does for your plan
19:50 - Importance of customized financial planning
20:22 - Matching investment timelines with retirement goals
21:14 - How to maximize your 401(k) contributions
22:33 - Catch-up contribution opportunities after age 60
23:44 - Knowing retirement savings rules and limits
24:28 - The power of compound interest — start early
25:40 - Planning for grandchildren’s financial future
26:09 - When to start retirement planning
26:47 - Early planning = better retirement outcomes
27:21 - How to contact LaTour Asset Management

📞 Have questions? Need advice? Contact us to set up a consultation today!

👉 Call us at 417-614-5402
👉 Visit us at https://latourasset.com

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Investment Advisory Services offered through LaTour Asset Management, LLC, an investment advisor in the states of Missouri, Arkansas, Texas, and Alaska, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Insurance products and services offered through LaTour Advisory Group Inc.  LaTour Asset Management, LLC and LaTour Advisory Group Inc. are affiliated companies. LaTour Asset Management, Joe LaTour, Jim Margraf, and Josh LaTour are not affiliated with or endorsed by the Social Security Administration or any government agency. This content is for informational purposes only and should not be considered legal, tax, or investment advice. Investing involves risk, including possible loss of principal. Always consult a qualified advisor before making financial decisions.