In this episode, Troy Sharpe, CFP® and Financial Advisor, continues his discussion on the Retirement Basics and The Oak Harvest Retirement process, touching upon some acronyms, S.M.A.R.T. and T.E.A.M. and what they mean to the Oak Harvest Financial Group and your retirement planning process. He discusses the 5 steps of the Oak Harvest retirement planning process; #1. Investment Planning, #2. Income Planning, #3. Tax Planning, #4. Healthcare Planning and #5. Estate Planning.

#investments #retirementplanning #retirementincome #taxplanning #estateplanning

00:00 Introduction – Mark Elliot – The Retirement Income Show
01:03 S.M.A.R.T. what does it mean for your retirement planning process
01:25 Oak Harvest Retirement process for retirement planning
02:13 Step 3 of Oak Harvest Retirement Plan Taxes can be your #1 Concern
03:41 Risk Management and Asset Allocation is Step 1 And Why
04:08 The Value Oak Harvest Financial Group provides to clients
06:00 Give us a call so we can take a look at your unique situation
06:36 Step 2 of the Oak Harvest Retirement Plan Process is Income Planning
08:10 After Step 1 and 2, now you can tackle Tax Planning
08:44 A big mistake in Tax Planning
10:00 The Goal in Oak Harvest for your plan
10:14 Mark Elliot – The acronym T.E.A.M.
10:43 The vision for Oak Harvest Financial Group
12:57 Mark Elliot Closing remarks

The Retirement Income Show focuses on answering the BIG retirement questions you may have… Can I retire? How much income should I withdraw? How do I ensure my income lasts my entire life? How do I pay less tax in retirement? If something happens to me, will my family be ok? Tune in on Sundays at 12pm on AM 740, KTRH, to learn various solutions that could address your retirement concerns. Or click to hear more: bit.ly/theRetirementIncomeShow

The Retirement Income Show focuses on answering the BIG retirement questions you may have… Can I retire? How much income should I withdraw? How do I ensure my income lasts my entire life? How do I pay less tax in retirement? If something happens to me, will my family be ok? Tune in on Sundays at 12pm on AM 740, KTRH, to learn various solutions that could address your retirement concerns. Or click to hear more: bit.ly/theRetirementIncomeShow

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To get started building your custom Oak Harvest Retirement plan, call us and schedule a free consultation (877) 404-0177…(read more)

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When it comes to planning for retirement, being SMART is more than just having a high IQ. In fact, there’s an acronym for it that may be helpful. S.M.A.R.T. stands for Specific, Measurable, Achievable, Relevant and Time-bound. The Retirement Income Show encourages everyone to be SMART about their retirement planning.

Specific: It’s important to be specific about what you want your retirement to look like. How much money do you need? What kind of lifestyle do you want? Where do you want to live? The more specific you are, the easier it will be to create a plan to achieve that goal.

Measurable: Once you’ve identified your specific retirement goals, it’s important to create measurable objectives to help you achieve them. For example, if your retirement goal is to travel to Europe every year, your measurable objective might be to save $10,000 each year for travel expenses.

Achievable: It’s important that your retirement goals are achievable. While it’s good to dream big, you also need to be realistic. If you know that you’re not willing or able to save enough money to live in a luxury condo overlooking the beach, then it’s important to adjust your expectations.

Relevant: Your retirement goals should be relevant to your life goals. For example, if your life goal is to become debt-free, then your retirement goal might be to pay off your mortgage before you retire. Your retirement goals should also be relevant to your values and beliefs.

Time-bound: Finally, your retirement goals should be time-bound. This means that you need to have a deadline for achieving these goals. For example, if you want to retire at age 65, then you need to have a plan in place to achieve that goal.

In conclusion, being SMART about your retirement means having a specific, measurable, achievable, relevant, and time-bound plan in place. The Retirement Income Show recommends that everyone take the time to create a SMART retirement plan to ensure a comfortable retirement.