In this episode, Brendon Murphy sorts through some misleading beliefs about retirement. Discover why you might not actually spend less in retirement, how to plan for longevity, and debunk the idea that Social Security will cover all your expenses. This episode offers a conversational yet insightful peek into the realities of retirement planning.
Brendon discusses:
(02:01) Spending expectations in retirement and the reality of initial costs
(05:08) Social Security misconceptions and supplemental income needs
(09:51) Importance of early savings to leverage compounding interest
(12:18) Planning for healthcare needs and living longer
Creating a robust financial plan can be daunting, but having the right team can make all the difference.
How do you find the right professionals to guide you through retirement planning? How can collaboration between wealth managers and insurance specialists benefit you?
This week, Brendon Murphy sits down with Brendan McPoyle, Partner & Wealth Manager at Princeton Global Asset Management. Together, they explore the power of their collaborative approach to wealth management and insurance, focusing on providing holistic and customized financial solutions to clients. You’ll hear about their unique partnership, their comprehensive services, and how they help clients navigate their finances with ease.
Together, they discuss:
Brendan McPoyle’s journey and his collaboration with Compass Financial Solutions
How personalized financial planning can address specific client needs and goals
The importance of having a professional team for holistic wealth and health management
Real-life client stories illustrating the benefits of their services
Brendan McPoyle works with business owners, high-net-worth individuals, and hard-working professionals across the United States. With 20 years of experience in developing inclusive financial plans and comprehensive financial strategies, he has helped individuals and families visualize their dreams and plan for financial retirement success.
His collaborative and comprehensive wealth management approach leverages the talents and knowledge of the Princeton Global team and each client’s trusted advisors to help increase and protect financial assets, build and secure assets for retirement, and achieve financial security and independence.
Retirement planning is crucial, but it comes with its own set of challenges and uncertainties.
How do you ensure your assets last as long as you do? What happens if the market crashes right before you retire?
This week on Compass Wealth Conversations, Brendon Murphy breaks down the top six risks every retiree or pre-retiree needs to consider to ensure a secure and prosperous retirement.
Brendon provides valuable insights and actionable advice on how to navigate these challenges effectively, drawing on years of experience in helping clients plan for their financial futures.
Brendon discusses:
Longevity: The challenge of outliving your financial assets and the importance of planning for a long retirement
Mortality: The impact of a spouse’s death on Social Security benefits and the need for additional income sources
Market Volatility: The risks of market downturns and strategies to protect retirement savings
Liquidity: The necessity of having accessible funds for emergencies and unexpected expenses
Inflation: How rising costs can erode purchasing power and ways to hedge against inflation
National Debt: The implications of national debt on taxes and retirement planning
Planning for long-term care may not be as exciting as planning your next pickleball game, but it’s crucial for your financial security and peace of mind.
How do you ensure you’re prepared for the future? What are the best strategies to leverage your assets for long-term care?
This week on The Compass Wealth Conversations Podcast, Brendon Murphy dives into the fundamentals of long-term care, addressing why it’s a critical component of your financial planning. He sheds light on the various forms of long-term care, misconceptions, cost considerations, and the importance of early planning to secure your future comfort and peace of mind.
Brendon discusses:
Understanding the different types of long-term care available today
The impact of long-term care costs on personal savings and assets
Common misconceptions about Medicaid and Medicare coverage
The benefits of starting long-term care planning early
Are you ready to turn financial uncertainty into a secure retirement?
Welcome to The Compass Wealth Conversations Podcast with Brendon Murphy!
In this inaugural episode, Brendon dives deep into the crucial topic of establishing reliable income streams for retirement by leveraging life insurance products.
He shares his unique journey from the restaurant industry to financial services, highlighting the invaluable role of conversations in understanding clients’ needs and tailoring financial plans to meet their goals.
Whether you’re a young professional or nearing retirement, this podcast will offer a wealth of insights into creating a stable financial future.
Brendon discusses:
Brendon’s transition from the service industry to financial services
The importance of comprehensive retirement planning
Utilizing life insurance for income generation
Building a network of professionals to address all aspects of retirement
