Hey honeys on this week's podcast we sit down and talk about the scary side of retirement

We understand the importance of avoiding common money mistakes to secure a stable financial future. In this episode, we delve into key pitfalls that women over 40 should steer clear of.

Firstly, neglecting retirement planning is a major mistake. It's crucial to start early, maximise contributions, and take advantage of tax breaks and diversification within retirement savings. Understanding compound interest and the benefits of starting early can significantly impact your financial future.

Healthcare costs tend to rise as we age, so it's essential to plan for these expenses. Whether it's health insurance, health savings accounts, or regular check-ups, investing in your health now can prevent financial strain later on.

Estate planning is another critical aspect to consider. Having a will, setting up a testamentary trust, and ensuring designated beneficiaries for your accounts can help avoid legal complications and ensure your assets are distributed according to your wishes.

Knowing your financial goals for retirement is key. Whether it's travelling, downsizing, or owning your home, having a clear plan can guide your financial decisions and prepare you for unexpected life events like the death of a spouse or divorce.

Owning your home is emphasised as a crucial step towards financial security in retirement. Stories of individuals facing homelessness or financial instability due to lack of home ownership highlight the importance of this asset.

Managing debt is also essential. Prioritising debt repayment and having an action plan in place can help ensure a debt-free retirement.

By focusing on these points we can take proactive steps towards securing their financial future. Remember, it's never too late to start, but the earlier you begin, the better off you'll be.

Hey there, it's Phoebe Blamey, and I'm thrilled to have you join me on this week's episode of "Your Happy Money Journey." Today, we're diving into beginning with the end in mind.

In this episode, do you have a clear strategy for exiting your current role or business?

When we begin with the end in mind we can make more informed decisions, stay accountable, and achieve greater success.

• We start with your vison and mission statements,
• Then we take a birds eye view of your personal and actual brand from the perspective of a potential employer or buyer
• Know your rules, how contracts, business structures and your industry sells a business or alternatively how your current employment contract might restrict your next move.
• Understand your timeline - how long until you want to retire for good? How long will what you are doing now remain viable?
• Know your definition of done - what are the attributes that will mean you are at the finish line?

This episode is filled with practical tips for implementing your strategy, including viewing your business or role from a buyer or employer's perspective, understanding the rules and regulations, defining your criteria for success, and setting a timeline for your exit or retirement.

How to know when to make a change, especially if your health or well-being is at stake.

So, whether you're just starting out or looking to make a change, this episode offers valuable insights and actionable steps to help you navigate your financial journey with clarity and purpose. Join me next week for more s on "Your Happy Money Journey." Remember to like, subscribe, and engage with us on social media. Enjoy the journey!