Tom Hegna > Quotes

“When you are developing your plan, you need to ask yourself two simple questions: What do you NEED your retirement income to do? What do you WANT your retirement income to do? As surprising as it may seem, many retirees cannot confidently answer either of these questions.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“No retirement plan is complete without a plan for long-term care.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“Long-term care is the one big risk that can wipe out your entire life's work, but many people don't have insurance to protect themselves from this risk.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“the best financial advice in the world can't help the person who doesn't ever get started.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“Acknowledgments.”
― Tom Hegna, Paychecks and Playchecks: Retirement Solutions for Life

“Inflation has always been an important factor in retirement planning, but it has become even more essential as life expectancy has lengthened.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“those who have a plan for retirement are not only in a better place financially, but also have a more positive outlook about their retirement future than those who don't have a plan.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“A hybrid retirement occurs when a retiree finds a full- or part-time position after leaving their primary career.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“cannot stress enough the importance of guaranteed lifetime income to your happiness in retirement. Knowing that you will have an income – regardless of what happens in the market – is going to make you less stressed. In turn, that will help to keep you happier and healthier overall. What Else Will You Do in Retirement? Once you have a regular stream of income nailed down, you will be able to enjoy everything else that retirement has to offer. But this time in your life won't come without its other challenges. That's why it is important to have a plan that goes beyond just the immediate financial aspects of retirement. You will need to factor in other items to keep up your happiness in retirement: Keeping On Track With a Purpose – Once you retire, you may feel that you've lost your purpose. You may have felt a strong sense of association to your employer or career and now, suddenly, being away from it may make you feel at a loss. Therefore, be sure that you've made plans to fill your time, such as travel, volunteering, or even a new career.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“retirees who receive regular income are much happier than those who don't.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“having a purpose in your life is very important to living a long life and being happy.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“The ultimate success of your retirement is not about assets. It is about income and risk management”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“If you can save 10 percent, 15 percent, or even 50 percent on a purchase, it is the same as earning that money in the stock market.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“Given the fact that planning is such an important part of feeling happy in retirement, it is essential to develop a plan for yourself. If you don't currently have one, this book will get you on the right track and show you the steps that you need to follow.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“Then in 2012, TIME had the following article: "Lifetime Income Stream Key to Retirement Happiness." It went on to say, "A new study in a land of grumps reveals that retirees with a guaranteed lifetime income stream can find true happiness.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“there is no adverse effect on your Social Security retirement benefits as a result of income you earn after you reach full retirement age.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“the most important part of retirement planning is the plan itself.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“A retirement plan is the "blueprint" to get you from where you are now financially to where you want to be in the future. Step 1 of the Seven Steps to Retirement Security starts the outline by discussing the importance of having a retirement plan in place.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“However, in the distribution phase, they can be a tax nightmare since all distributions are fully taxable. With the economic problems facing this country, where do you think tax rates are going? The math is clear – taxes will be going up. I have no doubt about that.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“is time to become more frugal. Frugal doesn't mean that you can't have fun anymore. It simply means staying at the Comfort Inn instead of the Ritz Carlton and buying the used car, not the brand new one.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“I have seen people who never made over $30,000 per year retire comfortably, while couples who made hundreds of thousands of dollars approach retirement almost penniless.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“With the recent drop in markets and housing, many of the baby boomer men are underinsured. Who will pay the consequences? Women! Don’t take my word for it: Find a widow who is living well and a widow who isn’t. Ask them about the importance of life insurance – it will be the key difference between them.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“those who have a clear plan of what they will do in retirement are the happiest,”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“People may think life insurance has nothing to do with retirement but, the truth is, life insurance has everything to do with it! The people who enter retirement with a significant amount of permanent life insurance will likely enjoy a much happier and more successful retirement than those who don't.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“I’m not trying to get you to buy a product and I don’t represent any single company.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“With my Seven Steps to Retirement Security, you will: • Develop a retirement plan • Enjoy more Social Security benefits • Consider a hybrid retirement • Protect your savings from inflation • Secure more guaranteed retirement income • Plan for long-term medical costs • Use your home equity wisely”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“Permanent life insurance that builds cash value can be a great tool in this situation. The premiums are paid with after-tax dollars. The policy grows tax deferred, and you can access those cash values before or after retirement on a tax-free basis as long as it is structured properly. Upon your death, the death benefit is paid to your beneficiaries generally income tax free and, if you set it up properly, estate tax free.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“If you struggle to pay your bills every month in retirement, the likelihood of you being happy is low.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“Today's retirees have more post-retirement career options than any other previous generation”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security

“According to the Employee Benefit Research Institute's 2014 Retirement Confidence Survey, 65 percent of workers now plan to work for pay for at least some period of time in retirement.”
― Tom Hegna, Don't Worry, Retire Happy!: Seven Steps to Retirement Security