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What should be on your retirement planning list for the new year ahead?
Joe Allaria, CFP joins us to share his retirement planning insights.
- What should be on your retirement planning checklist for the new year that you may not be thinking about
- What the happiest retirees do that those who are less so didn’t do – or do as well
- The biggest mistakes people make in retirement planning – and how can they be avoided
- The implications of unretiring
- The pros and cons of working longer
- A key lesson learned about retirement planning
Joe Allaria, CFP joins us from Illinois.
As a Partner and Wealth Advisor for CarsonAllaria Wealth Management, Joe’s primary responsibilities are to work directly with clients as the leader of their financial plan, while also creating and implementing the strategic vision for the firm. Joe brings an analytical, yet creative approach in finding solutions for our clients.
For his numerous articles, Joe has been featured in The Wall Street Journal, USA Today.com, Yahoo Finance, Nasdaq.com, and Investopedia. Joe is committed to educating his clients and the general public about the important issues surrounding financial planning and wealth management.
Joe earned his CERTIFIED FINANCIAL PLANNER™ designation in 2015. The CFP® marks identify those individuals who have met the rigorous experience and ethical requirements of the CFP Board, have successfully completed financial planning coursework and have passed the CFP® Certification Examination covering the following areas: the financial planning process, risk management, investments, tax planning and management, retirement planning, and estate planning. Joe also holds a Life & Health Insurance License and a Series 65 Security License.
Joe was born and raised in Edwardsville, Illinois, where he graduated from high school and received a Division I football scholarship to Southern Illinois University Carbondale. There, he earned a Bachelor’s Degree in Marketing and met his wife, Jacki. Joe played football throughout his college career and was named a 1st Team ESPN Academic All-American, while also being honored as an SIU Top 25 Distinguished Senior, of which honorees are selected university-wide. He later earned an MBA from Southern Illinois University Edwardsville.
Joe, Jacki, and their two sons, Brooks and Bennett, enjoy living in the Edwardsville/Glen Carbon community. They enjoy traveling as a family, hiking in the Pacific Northwest, being outdoors, listening to and playing music, and spending time with family and friends.
For More on Joe Allaria
CarsonAllaria Wealth Management
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Browse all podcast conversations across five seasons here.
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On Being Prepared
“…let’s just take an inventory, and you can keep doing your own thing, but someone should know what’s going on. And so for those that don’t want to hire an advisor because they handle it themselves, no problem. But you should have your own succession plan, so to speak – that’s what the experts, so-called experts tell us. As advisors, we should have a succession plan. If we get hit by the proverbial bus, our clients need to be taken care of. And Do It Yourself investors need to view that the same way. So the same goes here – get your estate documents in order, make sure your wills, your powers of attorney are in order. Have a plan for long-term care. If you go into a long-term care facility and you can’t manage your finances or your spouse goes in, it’s very expensive. Just think about all those potential things that could happen, especially if you’re trying to manage all this yourself.”
On Investing Time Wisely
“Some folks I’ve talked to, they don’t even like using the word retirement because it has this negative connotation that it’s all downhill from here. But just because we stop working, doing what you’ve done for the past 30 years, doesn’t mean you have to slow down. There’s still a lot of time to get stuff done. And I think the second thing that the happiest people do is they do not listen to the news, watch the news. They don’t open their stock app every day. They don’t pay attention to the media, the financial media. At least they don’t look at their accounts every day.”
On Assessing If You Can Retire Financially
“And the sad thing is, Joe, I’ve seen where people have come in, they have been stressed, they’ve been working away. Let’s say they’re 67, 68 years old and they just didn’t know they could retire. And we do a financial plan and we know they could have retired five years ago. But that’s typically the worst outcome – when people have worked longer than they really needed to in a job they really don’t like.”
About Retirement Wisdom
This retirement podcast is about the non-financial side of preparing for retirement – and living life on your own terms.
Planning for retirement goes well beyond your 401k or IRA. How will you invest your time after your full-time working years?
You’ll need another portfolio.
I help people create an active multipurpose retirement, with the right mix of interests, activities and pursuits to invest your time wisely. And for many, like me, it includes a new version of work – redefined on your own terms.
Schedule a call to see if a 1-on-1 program or a small group Designing Your New Life program can give you an edge in your next chapter.
Visit retirementwisdom.com for tools and resources to help you retire smarter.
About Your Podcast Host
Joe Casey is an executive coach who also helps people design their next life after their primary career. He created his own next chapter after a twenty-six-year career at Merrill Lynch, where he was Senior Vice President and Head of HR for Global Markets & Investment Banking.
Intro and Outro voiceovers by Ross Huguet.
The views and opinions expressed by guests on The Retirement Wisdom Podcast are solely those of the guests and do not reflect the opinion of the host or Retirement Wisdom, LLC. The Retirement Wisdom Podcast primarily covers the non-financial aspects of retirement. From time to time we may invite guests who discuss other aspects of retirement planning, solely for educational purposes. Listeners are advised to consult qualified financial and/or medical professionals on those matters.