Session 2 – Rodney Brooks

Session 2 Notes – Rodney Brooks

Recap and Highlights

  • A strategic plan is more than just a financial plan. It is a life plan for the next 20-30 years of your life.
  • Written strategic plan components include:
    • Financial plan
    • Estate plan
  • Unwritten strategic plan components include, but are not limited to,
    • When to file for Social Security
    • Emergency fund
    • Housing – stay in home, downsize or relocate
    • Tax Strategy – investments tax optimized across taxable & deferred accounts
    • When to Begin 401K Minimum Required Distributions
    • Plan for How You Will Spend Your Time in Retirement
  • Websites for additional information
  • Key Take-aways
    • Start saving and planning early
    • Talk with a financial planner
    • Communicate with your spouse or significant other
    • Create and follow a budget

Additional references and links