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Power Your Retirement

Hosted by Steve Smit, CERTIFIED FINANCIAL PLANNER® and founder of Powerhouse Financial Advisors, this podcast is designed to help employees of large publicly traded utility companies take control of their retirement planning. Steve, author of Power Up Your 401(k), shares insights on maximizing 401(k) options, navigating self-directed brokerage accounts, and creating a secure financial future. Tune in for practical advice, helpful resources, and strategies to power up your retirement! Subscribe and never miss an episode! Also available in video format on YouTube. For more information about Power Your Retirement, visit PowerhouseFinancialAdvisors.com or call 775-266-8867.

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Power Your Retirement

Managing Risk in Your Retirement Journey

February 27, 2025 • Steve Smit

0:00 | 16:39

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Welcome to part 2 of our 7-part series, where we’re diving into the 7 principles of Powerhouse Financial Advisors!

Today’s episode is all about the importance of balancing risk, especially as retirement approaches. Steve and Walter discuss how different risks can impact retirement savings and why a risk management strategy can make a difference in building a resilient plan.

Here’s some of what we discuss in this episode:

0:00 – Intro

0:58 – Misconceptions about risk

3:16 – Managing risk approaching retirement

4:26 – Loss of purchasing power

6:52 – Life insurance

8:16 – Disability insurance

9:33 – Long-term care planning

12:21 – Byline indicator

13:53 – The importance of professional guidance

Get your copy of Power Up Your 401K in our toolkit: https://keap.page/ngt919/toolkit.html

Follow along on YouTube: https://www.youtube.com/channel/UCEE5ZkDedYTsKzkh2UxQ9Sg