Tag: Retirement Planning
Should You Sell When the Stock Market Drops? Ft. Michael Boyle (Ep. 12)

Should You Sell When the Stock Market Drops? Ft. Michael Boyle (Ep. 12)

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What should you do when the stock market drops and your investment account suddenly loses value? Before selling during a downturn, it helps to understand what the decline makes you fear losing in your life.

In this episode, Eric Lee and Michael Boyle explore why a market decline can make retirement, independence, and future choices feel less certain. Eric explains how investors become attached to a portfolio’s highest value and why a lower balance can feel like money has been taken from them. They examine the urge to sell during a bear market, the relief it may provide, and the difficult question of when to reinvest. Eric also shares three questions to consider before making a fear-based investment decision. The conversation offers a practical way to prepare for market volatility and evaluate whether a downturn has actually changed your financial plan.

Eric discusses:

  • Why a falling portfolio can raise concerns about retirement, family support, and running out of money
  • How selling during a market downturn can create a difficult decision about when to reinvest
  • Three questions to ask before changing your investments in response to fear
  • Why preparing during strong markets can help you respond more thoughtfully when volatility returns
  • And more!

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Contact Michael Boyle:

About Our Guest:

Michael Boyle is Eric Lee’s partner at Purple Wealth and a returning contributor to Better Conversations: The Life & Money Podcast. In this conversation, he shares his perspective on market declines, investor fear, the emotional pressure to sell, and preparing for volatility before it happens. 

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The Retirement Transition Nobody Prepares For (Ep. 8)

The Retirement Transition Nobody Prepares For (Ep. 8)

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Many people worry about running out of money in retirement. But what if one of the biggest retirement challenges has nothing to do with your finances? If you’re planning for retirement and wondering how to find purpose, stay connected, and avoid loneliness after leaving work, this conversation offers a fresh perspective on what it really means to prepare for the next chapter of life.

In this episode, Eric Lee explores why retirement planning is about much more than investments, taxes, and retirement income. He discusses how strong relationships, meaningful activities, and a sense of purpose can shape your happiness just as much as your financial plan. Drawing on insights from the Harvard Study of Adult Development, Eric explains why social connection plays an important role in healthy aging and emotional well-being. He also shares why couples should have honest conversations before retirement, how hobbies and community involvement can lead to lasting friendships, and why preparing for the emotional side of the retirement transition is just as important as preparing financially.

Eric discusses:

  • Why preparing emotionally for retirement is just as important as preparing financially
  • How strong relationships and social connection can improve healthy aging and life after work
  • Why couples should discuss expectations before retirement to navigate the retirement transition together
  • How hobbies, friendships, and community involvement can help you find purpose after retirement
  • And more!

Resources:

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Better Conversations: Five Retirement Decisions That Matter More Than Returns (Ep. 7)

Better Conversations: Five Retirement Decisions That Matter More Than Returns (Ep. 7)

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Will you run out of money in retirement? Should you take Social Security at 62 or wait until 70? Is long-term care insurance worth it?

In this episode, Eric Lee discusses some of the most common retirement planning questions facing pre-retirees and retirees, including how much retirement income you may need, when to claim Social Security, whether long-term care insurance is worth considering, and how inflation can affect a sustainable retirement lifestyle over time.

Eric challenges several common retirement-planning assumptions and explores five often-overlooked retirement decisions that can affect your income, family, legacy, and long-term financial confidence. Rather than focusing solely on portfolio performance, this conversation encourages listeners to think more intentionally about what a successful retirement actually looks like and how to align their financial decisions with the life they want to live.

Eric discusses:

  • How much money do you want to leave behind versus spend during retirement
  • The difference between maximizing Social Security benefits and maximizing long-term wealth
  • Whether long-term care insurance is worth considering for your family situation
  • Common retirement spending assumptions that may not reflect real life
  • And more!

Contact Eric Lee:

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What Wealth Really Means: Beyond Money (Ep. 6)

What Wealth Really Means: Beyond Money (Ep. 6)

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What if financial planning feels difficult because we’re trying to predict a future that can’t be predicted? 

In this episode, Eric Lee explores why traditional goal-setting often creates stress and anxiety around money. Instead of focusing solely on numbers and timelines, Eric explains how understanding what truly matters in life can lead to better financial decisions and greater peace of mind. He also shares how emotions, family expectations, and fear of making the wrong choice shape the way people think about money.

Eric discusses:

  • Why financial goals can feel overwhelming
  • The difference between goals and values
  • Why time is often more valuable than money
  • A simple framework for making financial decisions 
  • And more!

Contact Eric Lee:

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