News
April is Financial Literacy Month, a yearly event to raise public awareness of the importance of financial literacy and maintaining smart money management habits. We’re celebrating this April by introducing our team of talented fiduciary advisors who will share their knowledge, expertise, and actionable insights on relevant financial topics. Today’s spotlight is on Mckayla Johnson, CFP®, Financial Advisor at Retirable.
Retirable
Published April 20th, 2023
Retirable
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Published April 20th, 2023
Key Takeaways
April is Financial Literacy Month, a yearly event to raise public awareness of the importance of financial literacy and maintaining smart money management habits.
It is never too late to learn, even if you are about to retire and know little about your finances.
Being financially literate gives you the ability to achieve your financial goals and avoid potential financial setbacks.
April is Financial Literacy Month, a yearly event to raise public awareness of the importance of financial literacy and maintaining smart money management habits. We believe that a healthy financial future starts with financial education and literacy. We firmly believe that it’s never too late to start your financial literacy journey.
We’re celebrating this April by introducing our team of talented fiduciary advisors who will share their knowledge, expertise and actionable insights on relevant financial topics. We believe that by opening access to greater financial literacy, we further Retirable’s mission to empower a confident, worry-free retirement for everyone.
This week’s spotlight is on Mckayla Johnson, CFP®, Financial Advisor at Retirable.
Get to know Mckayla Johnson, CFP®
Mckayla graduated from the University of Wisconsin - Madison with a B.S. in Personal Finance, Financial Planning and a B.A. in Economics. Upon graduation, she joined Vanguard’s Advance to Financial Planning program where she successfully passed her Certified Financial Planner (CFP®) exam in July 2022. After Vanguard, Mckayla joined Retirable as a Financial Advisor where she continues to deliver a personalized experience for each client. Outside of work, Mckayla enjoys staying active through half-marathons with her friends, yoga and spin classes, and exploring new restaurants and museums in NYC.
Why is financial literacy important to you?
At any stage in life, it is important to understand your personal finances. It is never too late to learn, even if you are about to retire and know little about your finances. Being financially literate gives you the ability to achieve your financial goals and avoid potential financial setbacks.
What do you love about being a financial advisor?
As a financial advisor, I have the opportunity to create a safe, inviting space for pre-retirees and retirees to discuss their feelings about their financial picture. Which for most of them, is an experience they have never had before or even been offered! I love being the trusted person that individuals can turn to with their financial fears and leave with the knowledge and confidence for a worry-free retirement.
What is an area of finance that many pre-retirees/retirees may not be familiar with, but understanding it may help their financial picture?
One area of finance that pre-retirees and retirees are not familiar with is long-term care (LTC) planning. Long-term care can be defined as an individual that is unable to perform some or all of the basic activities of daily living (e.g., bathing, dressing, eating) for an extended period of time.
The important aspect for people to understand about LTC is that it is not covered by Medicare. This means retirees and/or their loved ones can be left with the responsibility of covering the cost.
So how can one prepare for unexpected healthcare costs? Plan ahead! Have conversations with your loved ones about what the expectations are if you need care. Do you plan to move in with your loved ones? Would you relocate to assisted care? What savings or insurance do you have to cover health care costs?
By preparing for a long-term care event, you will safeguard your retirement savings and plan from being derailed.
What is a conversation you encourage pre-retirees and retirees to have with their significant other and/or loved ones?
The word “retirement” is defined differently by everyone. For one person, retirement may mean relocating to a warmer area and working a part-time job. For another, retirement may mean not working at all and moving closer to loved ones. Whatever you envision for your retirement lifestyle, looping in your significant other and loved ones in the conversation is important for a smooth transition to retirement.
Why should people work with Retirable to build their dream retirement?
Every advisor here at Retirable is passionate about our mission to give every retiree a comprehensive plan for retirement. We separate ourselves from traditional firms with our expertise in the decumulation phase to give clients more income in retirement, to actually enjoy retirement!
Financial Literacy Month is a great time to start building your ideal retirement. Schedule an appointment with Mckayla today!
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Retirable, the first-of-its-kind holistic retirement solution with the ongoing care of an advisor, offers products and services across the retirement investing, planning and spending spectrum. Retirable was founded by industry veterans to empower a worry-free retirement for everyone.
Share this advice
Retirable, the first-of-its-kind holistic retirement solution with the ongoing care of an advisor, offers products and services across the retirement investing, planning and spending spectrum. Retirable was founded by industry veterans to empower a worry-free retirement for everyone.
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