Episode 015:
What to Look for in a Retirement Advisor

07.28.22

Episode 015 Summary:

Live from the FSR Wealth Strategies podcast studio in the heart of Elmhurst, Illinois, it’s another episode of The Retirement = Freedom and for the very first time … featuring Host Josh Bretl drinking Cometeer Coffee's flavorful la esperanza roast. Guess what? He likes it. He really, really likes it!

You also won’t want to miss Co-Host Dave Schmidt’s introduction to the podcast’s newest segment: Get to know Josh and Dave. (The jingle is still under construction.) After a quick detour into arcade games, this dynamic duo takes on the biggest of the big questions: When can I retire? There’s no one answer, but this episode offers advice on how to get started figuring it out. The calculus must take into consideration questions like:

  • What will be your purpose?
  • You may have the freedom, but do you have the means?

The trick is to get into a mindset that takes what you desire in your fondest dreams and marries it with financial reality. What it will take to get there? That equation will be different for every one of us, which is why it pays to start considering what it all will look like in the future … now!

Enjoy this thoroughly caffeinated tour through the minds of our co-hosts, ranging from action figures to ramen noodles to vanity license plates that the Department of Motor Vehicles for the state of Illinois may or may not be willing to grant!

What’s on your vanity license plate – real or imagined? Josh and Dave want to know! Share your favorites on our new private Facebook group, which you can find here.

Know someone who is new to podcasts and wants to know how to tune in Retirement = Freedom? Josh has put together a little video that makes it easy. Click on this link (and share) to learn how to start listening today!

And if you haven’t tried it already, click here to get $25 off your first order of Cometeer Coffee. It’s the greatest!

Click here to learn more about or listen to previous episodes of The Retirement = Freedom Podcast.

Key Takeaways

  • Coffee, ramen … Is Josh avoiding the topic of the day? Yes!
  • Who’s ready for an entirely new segment? Get to Know Josh and Dave! First question: Most expensive thing the co-hosts have ever bought outside of a house or car?
    • Josh: A mind-blowing dinner with his wife at the original Charlie Trotter's in Chicago, along with some other memorably over-the-top meals.
    • Dave: Action figures of all kinds (some of which have increased in value!).
  • Dialing back to Episode 1 and the origin of the entire R=F podcast: Josh shares again his definition of being (happily) retired.
  • Choosing when to retire has everything to do with:
    • Establishing a purpose and plan for what you want to do with the rest of your life.
    • Determining money in versus money out: Do you have enough?
    • Assessing factors like pensions, social security and retirement savings.
  • Halloween Philanthropy: Josh may be working on a new economic theorem about the correlation between big homes and who gives out big candy bars. Stay tuned.
  • Josh doesn’t see his role as a retirement advisor as reshaping spending habits or financial goals. It’s figuring out where people are in relation to their dreams – and then helping close any gaps.
  • Get to Know Josh and Dave: Round 2! What would you like your personalized license plate to say?
    • Josh: FREEDOM or TaxNerd.
    • Dave: 2BigLgs (in honor of his tree stump legs).
  • Dave Relates to Retirees: How about a retro arcade business that could double as a hobby in retirement? Josh sees a scenario in which his pal chillin’ and having fun with like-minded pinball enthusiasts could actually be turned into a plan for financial viability.
  • And it actually happened: The day has finally come when both co-hosts enjoyed a delicious Cometeer coffee while recording the show! (Was it the best episode ever?)
  • Call to Action: Help us expand our circle by sharing this episode with one person you know who might enjoy a little retirement advice or just hanging with two good friends.

Quotable Quotes

“I’ve always said that retirement is not the stoppage of work. Retirement is the ability to do what you want to do, when you want to do it.” ~Josh

“So if I want to retire, I just cut out the 'Dave' budget." ~Josh

"You've bought me a lot of food to make up for it. I've had great experiences eating food." ~Dave

“How much you have is not really the part of the equation that matters … The true part is really how that lines up with what you’re going to do. What you’re going to do impacts the ‘money out’ portion.” ~Josh

“I brought up having a purpose. And you changed the question in your head a little bit and incorporated what you really want to do with that freedom!” ~Josh

“That is the way a retiree has to think. It’s the mindset: This is what I want to do. How do I do it? Help me get there.” ~Josh

Episode Extras

About your Co-Hosts

A certified public accountant, Josh Bretl has spent the past two decades growing FSR Wealth Strategies into a firm that specializes in tax-focused retirement planning. Because taxes have the single biggest impact on how much you can spend in retirement, Josh is dedicated to developing individualized financial plans that extend and grow his clients’ retirement savings. Based in Elmhurst, Illinois, FSR Wealth strategically preserves and maximizes resources through tax-efficient strategies designed to fulfill retirement dreams.

Apart from producing and co-hosting The Retirement = Freedom Podcast, Josh's longtime friend Dave Schmidt is a content production and marketing adviser to local businesses and nonprofits. He’s also an advocate for t-shirts, all things 90s (especially the music), short walks and long naps. A serial “wallet forgetter,” Dave nonetheless swears that he has picked up the check on at least one or two meals with Josh over the years. Evidence pending.

Standard Disclaimer:
FSR Wealth Management is a registered investment advisor located in Elmhurst, Illinois. Information and opinions contained in this audio have been arrived at by FSR Wealth advisors. All information herein is for informational purposes and should not be construed as investment advice. It does not constitute an offer, a solicitation or recommendation to purchase any security. FSR is not providing legal, tax, accounting, or financial planning advice in this audio. These views are as of the date of this publication and are subject to change.

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