Most retirements in the U.S. aren’t voluntary. Layoffs, health problems or caring for a family member decide the date for most people, so real financial planning has very little to do with skipping lattes.

Paula and former financial planner Joe Saul-Sehy answer three listener questions. The first is from an Air Force major with $2.5 million saved whose parents both have early-onset Alzheimer’s. The second is from a 58-year-old early retiree deciding whether to rent or buy her next home. The third is from a couple weighing whether to pay down a 6% mortgage.

In this episode, we discuss:

• Why to buy disability and long-term care insurance before you take a genetic test
• How to plan for long-term care costs without draining the rest of your family
• Which estate documents to sign now, and the trust step most people skip
• Why the person raising your kids and the person managing their money shouldn’t be close friends
• How to use the price-to-rent ratio to decide whether to rent or buy
• Whether paying down a 6% mortgage really earns a guaranteed 6% return
• Why extra mortgage payments won’t hurt you if you refinance later

If you’ve been treating personal finance as a budgeting exercise, this episode shows what planning ahead looks like. It also shows why planning makes you more flexible, not less.

⏱️ TIMESTAMPS

Note: Timestamps may vary slightly depending on dynamic ad placements.

(00:00) Why most retirements aren’t your choice

(06:57) What Charlie Munger regretted at 99

(15:35) $2.5M saved and a family history of Alzheimer’s

(17:11) Why to buy insurance before a genetic test

(29:46) How to handle the sticker shock of long-term care

(32:21) Estate paperwork to sign before you need it

(38:53) Why your kids’ guardian and money manager shouldn’t be friends

(54:56) The one ratio that tells you to rent or buy

(1:07:39) Is a 6% mortgage a guaranteed 6% return?

(1:14:03) 15 families could pay off their mortgage. None did.

🔗 RESOURCES MENTIONED

IS YOUR FAMILY COVERED IF YOU CAN’T WORK? MAP YOUR INSURANCE, SAVINGS AND RETIREMENT ON ONE FREE PAGE AND FIND THE GAPS 👉 http://affordanything.com/cornerstone

👉 Joe Saul-Sehy’s show, Stacking Benjamins: https://www.stackingbenjamins.com

👉 Lacey Langford’s MILMO Show (money planning for military families): https://laceylangford.com/expert-resources/milmo-show

👉 Our interview with estate planning expert Andrea Baumann Lustig: https://affordanything.com/725-what-most-families-get-wrong-about-passing-down-wealth-with-andrea-baumann-lustig

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