Retirement Readiness Checklist — Most People Fail 3 of These. Do You? + Markets at Record Highs

Your retirement readiness checklist may have more gaps than you realize — and Joel Garris, CFP® with 42 years in retirement planning, walks through every item most people miss before their last day at work. 🎯 This week's episode covers three of the most important financial conversations happening right now for pre-retirees: why the S&P 500 near all-time highs demands more discipline, not less; why holding too much cash in retirement could cost you up to 25% of your total asset base over 30 years; and a practical 12-item checklist to determine whether you are actually retirement-ready — beyond just having "the right number." In this episode you'll learn: ✅ How staying overweight in cash is quietly destroying your long-term retirement picture — and why $7.8 trillion in money market funds is a warning sign, not a safety net 📉 Why markets near all-time highs are not the same thing as risk-free markets, and how to review your investment allocation before volatility returns 📋 The retirement readiness checklist Joel uses with clients — covering income planning, Social Security timing options, withdrawal strategy, healthcare, debt, and the questions most people never think to ask 💸 How an extra 5% in cash above your true short-term needs can compound into a 25% loss in total wealth over 30 years — the math that changes how you think about "safe" 🏥 Why healthcare and taxes require their own line items in your retirement budget — and what happens when pre-retirees skip the actual tax return projection ⏰ What Social Security timing options actually look like across the 62-to-70 window — and why this one decision can reshape your retirement income plan entirely 🧭 The non-financial retirement question Joel asks every client before they discuss money — and why skipping it is one of the most common reasons people struggle after they stop working Nelson Financial Planning is a fiduciary financial planning firm in Orlando, Florida, serving Central Florida families since 1984. Joel Garris, JD, CFP® is the firm's founder, a Certified Financial Fiduciary, and published author of NextGen Dollars & Sense. Every team member at Nelson is a Certified Financial Fiduciary — legally required to act in your interest, never earning commissions. No account minimums. No obligation. Just a real retirement income plan built around your specific situation. 📅 Ready to pressure-test your retirement readiness checklist? Schedule your free retirement strategy review — no account minimums, no obligation: 👉 https://www.nelsonfinancialplanning.c... 📖 Get a free copy of Joel's book NextGen Dollars & Sense: 👉 nelsonfinancialplanning.com/next-gen-dollars-sense-book/ CHAPTERS 00:00 ⚡ The Retirement Mistake Nobody Budgets For 02:15 📈 S&P 500 Near Highs — Now What? 07:30 💰 $7.8 Trillion in Cash: Is Yours There? 14:00 📉 How Excess Cash Costs You 25% of Wealth 21:00 📋 Retirement Readiness Checklist Starts Here 26:30 💸 Retirement Income Plan vs. Account Balances 32:00 ⏰ Social Security Timing: The 8-Year Window 36:15 🚨 Retirement Withdrawal Strategy and Taxes 41:00 🏥 Healthcare, Debt, and Legal Documents 46:00 🧭 The Non-Financial Question That Changes Everything 51:30 ✅ What Smart Pre-Retirees Do Differently #DollarsAndSense #NelsonFinancialPlanning #RetirementReadiness #RetirementIncomePlanning 💵 About Dollars & Sense: 💵 Hosted by Joel Garris, a Certified Financial Planner and Fiduciary at Nelson Financial Planning, Dollars & Sense is one of Central Florida’s longest-running radio programs and a top 25 financial planning podcast. Each week, Joel and his team provide expert insights to help you make sense of all your financial decisions. 💥 Subscribe Now! Make sure you subscribe to our channel and hit the notification bell so you never miss an update. If you have trouble finding us on your favorite podcast platform, visit our website at Nelson Financial Planning and click on the icons to get connected. About Joel Garris: Joel Garris is a Certified Financial Planner and Fiduciary at Nelson Financial Planning. He’s dedicated to providing comprehensive financial advice to help you achieve your retirement goals. With a team of expert advisors, Nelson Financial Planning is committed to delivering personalized and effective retirement and financial planning solutions. ➡️ CONNECT WITH US: Website: nelsonfinancialplanning.com Facebook:   / nelsonfinancialplanning   Twitter: https://x.com/nelsonfinplan Spotify Podcast – Dollars & Sense: https://open.spotify.com/show/79mlYYS... #FinancialAdvice #FinancialPlanning #InvestmentAdvice #RetirementPlanning #MoneyManagement #finance ⚠️ DISCLAIMER: This content is for educational purposes only and should not be considered personalized financial or tax advice. Please consult with a qualified financial advisor or tax professional for your specific situation.