Mike Kojonen

ABOUT

Mike Kojonen is the founder/owner of Principal Preservation Services LLC, with offices in Woodbury, MN and Hudson, WI. He has been in the financial services industry since 2002, helping clients with budgeting and finance. He now solely focuses on helping pre-retirees and retirees with necessary retirement planning.

Too many people are overconfident yet underprepared for retirement. Every week, clients come into Mike’s office with retirement accounts, but no retirement plan. They have no idea if or when they can retire, or even what retirement would look like. His goal is to inform, educate, and direct them to put them on the path to succeed in retirement – without the stress.

Mike Kojonen's mission is for his clients to be able to achieve their goals by having a solvent retirement plan and to live retirement the way they dreamed of. He is able to do this by implementing strategies that are simple to understand, but hardly talked about or utilized in the industry. However, the relationship Mike holds with his clients isn’t just about the strategies or the plan he implements with them, he has a true desire to earn the trust of all his clients. Building a foundation based on integrity, honesty and consistency is extremely important to him. This helps ensure an open communication environment for his clients, so that they are educated and understand what their retirement will really look like.

He states: “When my clients tell me that they now have ‘peace of mind’ knowing that they don’t have doubt or feelings of anxiety about their retirement – to me, that is the greatest feeling of accomplishment!”

Mike, a Minnesota native, currently resides in Somerset, WI. He and his wife, Angie, have nine children (six girls and three boys) along with three dogs and three cats. He loves to play golf, travel, and spend time with his family and friends, and is a strong advocate of giving back to the community and an active member and supporter of his church. He has a strong faith in God which guides and leads him, his family, and his business.

FEATURED VIDEOS

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Download my chapter “Myth: The Stock Market Will Always Outperform a Fixed Index Annuity” from the Best-Selling book Momma’s Secret Recipe for Retirement Success!

Blogs

The Concept:

We’ve been enjoying a long bull run over the past decade and that’s made many people fearful that a major downturn is right around the corner. So what might that look like and when could it happen? We discuss the next market crash and how to prepare yourself for it.

Click the timestamps below to skip around to specific topics in the episode.

The Reality of the Matter:

Investing in the market requires plenty of speculation and a strong stomach. If you aren’t ready for the ups and downs, it can be a stressful experience.

Thankfully, we’ve enjoyed a bull run of more than a decade since the real estate bubble popped back in 2008. That’s one of the reasons why many analysts and investors are anticipating another significant downturn. We know it’s going to happen at some point, but no one can predict when and how bad it will be.

We’re going to turn to Mike Kojonen on this episode of the Retirement Reality Podcast to see where he stands on the topic. Will that next market crash compare to 2008? Could it be worse? And how can we prepare our portfolios to withstand a huge correction so we are having to wait years to see our investments return to their current levels?

This episode will also dip into the mailbag to take two listener questions. The first is about choosing an advisor based on age and how to handle an advisor retiring before you do. The second comes from someone nearing retirement that’s worried about a market crash. It’s a perfect question to get us into our main topic today.

We’ve laid out the discussion below to make your listening experience more organized. Feel free to click the timestamps to jump around to a specific topic in the episode.

Just The Facts:

[1:20] – Mike’s team is moving into a new office.

[2:37] – Mailbag question: Should I work with a younger advisor with less experience or someone my age that will retire the same time I do?

[5:17] – It’s valid to ask an advisor what their plan is when they retire. Who will take care of you?

[6:00] – Mailbag question: I’m retiring in six months and worried about a market crash before I get to the finish line. Will I be ok?

[7:41] – So what will the next market crash look like? Let’s discuss.

[8:07] – When is the next market crash coming?

[9:34] – When it does happen, should we plan for it to be as severe as 2008?

[10:52] – If someone is worried, is it best to pull your money out of the market and just wait?

[12:19] – What our team does to protect our clients from a downturn.

[15:30] – An advisor can help you understand investment options you might not even be aware of.

Related Content:

What Flying Can Teach Us About Retirement

Financial Specialist, Michael Kojonen Hits Amazon Best-Seller Lists

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Ep #7: What Will the Next Market Crash Look Like?

October 17, 2019

Ep #7: What Will the Next Market Crash Look Like? The Concept: We’ve been…

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The Concept:

When was the last time you took a flight? Did you think at all about how that process related to investing? Probably not, but there are actually some pretty great parallels between retirement planning and flying that we will talk about on this episode. Buckle up and prepare for takeoff. 

Click the timestamps below to skip around to specific topics in the episode.

The Reality of the Matter:

We often look at different industries to find examples of strategies that can be applied to investing, and today we want to talk about what flying can teach us about retirement planning. 

It might not seem like an obvious connection but there are key parallels between the two that can provide a new perspective on your retirement. That’s the focus of today’s episode of the Retirement Reality Podcast with Mike Kojonen. He’ll help explain why flight plans, air traffic control, and turbulence all have to do with your retirement plan. 

Much like flying, you’ll want to make sure you have everything in order so that you reach your final retirement destination when and where you want to. Taking this guidance will help that process and hopefully give you greater clarity on planning. 

We also take a few minutes to ask Mike about a recent headline in the news that nearly one-third of households in this country are mortgage-free. Are you in that group? And is that number higher or lower than what you expected?

We’ve laid out the main topics below to make your listening experience more organized. Feel free to click the timestamps to jump around to a specific topic in the episode. 

Just The Facts:

[2:36] – Introducing our topic on today’s show. 

[3:32] – In the news: 37% of households are ‘free and clear.’ Is that number high or low?

[4:49] – 75% of our clients are free and clear and the others are pretty close. 

[5:44] – Beginning our main topic of what flying teaches us about retirement

[6:09] – The first lesson: You need a flight plan.

[7:42] – You need someone with experience to build the correct flight plan.

[8:51] – The third lesson: Turbulence effects different people in different ways. 

[10:15] – Your plan, like an airplane, is built to withstand the ups and downs. 

[11:00] – The final lesson:  You need help along the way to get from point a to point b. 

[11:50] – Past success can really hurt you. Here’s why.

Related Content:

Even Responsible Savers Make These Mistakes

Signs Your Financial Advisor Isn’t Right for You

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No Obligation Review

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Ep #6: What Flying Can Teach Us About Retirement

October 10, 2019

Ep #6: What Flying Can Teach Us About Retirement Planning The Concept: When was…

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On the day of release, Momma’s Secret Recipe for Retirement Success reached best-seller status on Amazon – reaching as high as #11 in Retirement Planning and #32 in Budgeting & Money Management categories. The expert information shared in Kojonen’s chapter, Myth: The Stock Market Will Always Outperform A Fixed Index Annuity has helped the book reach optimal best-seller placement and will help readers gain similar success in their endeavors.

CelebrityPress® describes the book as empowering to all retirees and people planning for retirement around the world with the following:

Click To Read Full Press Release

BLOGS

Press Release: Momma’s Secret Recipe for Retirement Success, Authored by Michael Kojonen, Hits Amazon Best-Seller Lists with

October 4, 2019

On the day of release, Momma’s Secret Recipe for Retirement Success reached best-seller status…

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Michael Kojonen ranked on the Amazon best-seller lists with the new book, Momma’s Secret Recipe for Retirement Success, Coauthored with Jack Canfield.

Hudson, WI – September 30, 2019: Michael Kojonen, Principal Preservation Services LLC, joined Jack Canfield, along with a select group of professionals around the world to co-write the book, Momma’s Secret Recipe for Retirement Success: The Truth About Risk, The Stock Market, Fees, & Annuities. The book was published by CelebrityPress®, a leading business book publisher that publishes books from ThoughtLeaders® around the world and was released on September 12th, 2019.

Click To Read Full Press Release

BLOGS

Press Release: Financial Specialist, Michael Kojonen Hits Amazon Best-Seller Lists

October 4, 2019

Michael Kojonen ranked on the Amazon best-seller lists with the new book, Momma’s Secret…

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The Concept:

You can’t criticize people that take a proactive approach to their future by putting away savings as they earn, but you can offer up ways to improve the way that they save. Believe it or not, even responsible savers make mistakes because the transition into retirement can be a major lifestyle change. Let’s talk about some of those missteps that happen along the way.

Click the timestamps below to skip around to specific topics in the episode.

The Reality of the Matter:

The first step towards retiring with confidence is saving. Without a plan to save a portion of your earnings, you end up living paycheck to paycheck with no protection for emergencies.

But not everyone that saves is making the best use of that money. Whether you have your money in the wrong investments or no investments at all, those savings could be generating better returns if applied correctly.

That’s why this episode of the Retirement Reality Podcast will feature four mistakes that responsible savers make with their money. These won’t necessarily hurt your retirement plan but avoiding these missteps will allow you to grow and manage your money in the best way possible. And don’t forget about why you’re saving that money in the first place, and that’s to eventually spend it on yourself and others.

The other topic on this show will be the recent trend of wedding loans. This is a newer form of debt that young couples are taking on to fund their ceremony and reception so we ask Mike to give us his opinion on whether this is a good idea or not.

We’ve laid out the main topics below to make your listening experience more organized. Feel free to click the timestamps to jump around to a specific topic in the episode.

Just The Facts:

[2:01] – What we’ll talk about on today’s show.

[2:43] – Wedding loans are a new trend where young couples take out money to pay for their ceremony. Mike shares his thoughts on this.

[6:01] – Moving into the main topic – even responsible savers make mistakes.

[6:22] – Mistake: Getting too enamored with cash.

[8:00] – Mistake: Taking too much risk to accumulate savings.

[10:11] – How often you should be evaluating your portfolio with an advisor.

[10:45] – Mistake: Not preparing for that tax time bomb.

[14:21] – Mistake: You aren’t enjoying the savings you’ve accumulated.

Additional Resources:

Visit the Social Security website to learn more about taxes in your state

Related Content:

3rd & 4th Quarter Financial Planning Checklist

5 Financial Myths That Need to Be Busted

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No Obligation Review

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Ep #5: Even Responsible Savers Make These Mistakes

October 3, 2019

Ep #5: Even Responsible Savers Make These Mistakes The Concept: You can’t criticize people…

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The Concept:

Have you ever had any type of financial trouble and immediately look to place the blame on external factors? Many times there are situations that make retirement planning difficult, but making excuses rather than looking for solutions will slow down your growth and limit your potential. We’ll share some of the common ‘blame game’ examples we hear and provide you with guidance to get past them.

Click the timestamps below to skip around to specific topics in the episode.

The Reality of the Matter:

Life is never easy and neither is financial planning. We are faced with life events and unplanned circumstances, but it’s important to avoid making the common mistake of playing the ‘blame game’ when it comes to their retirement.

Rather than making adjustments and looking forward, people will get trapped in this mindset that their finances aren’t where they want them to be because of an outside force. That might be true to a point, but hanging onto those excuses aren’t going to improve your retirement plan.

Today on the Retirement Reality Podcast, Mike Kojonen will highlight four of the most common excuses that we hear and what you can do about the situation to improve things. There’s a good chance one of these has impacted your life: divorce, a bad broker, Wall Street, and taking care of adult children. If it has, this episode should serve you well.

We’ll also get to know Mike a little better by finding out more about his hobbies.

We’ve laid out the main topics below to make your listening experience more organized. Feel free to click the timestamps to jump around to a specific topic in the episode.

Just The Facts:

[0:54] – Introducing the topic for today’s show.

[1:15] – Getting to Know Mike: What hobby would you pick up if time and money weren’t an issue?

[3:30] – Blame game excuse 1 : My divorce has really messed me up financially.

[5:04] – How difficult is to get back on track financially after a divorce?

[5:48] – Blame game excuse 2: My old broker did me wrong?

[7:12] – Blame game excuse 3: The system is rigged in that Wall Street always wins but not the little guy.

[9:37] – Blame game excuse 4: My kids have had trouble finding good jobs since leaving school so I’ve been helping them out for years.

[11:17] – Is Mike seeing clients that are dealing with kids living with them longer and relying them for long periods of time.

[13:34] – Another common issue Mike sees from clients.

Related Content:

5 Financial Myths That Need to Be Busted

Signs Your Financial Advisor Isn’t Right For You

Request Your Complimentary,
No Obligation Review

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BLOGS

Ep #4: Is Playing the Blame Game Holding You Back Financially?

September 26, 2019

Ep #4: Is Playing the Blame Game Holding You Back Financially? The Concept: Have…

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The Concept:

As the year begins to wind down, it becomes a great time to run through a financial checklist to make sure your investments all are on track. These six items will help you decrease your taxes, improve your portfolio, and keep your retirement plan moving forward.

Click the timestamps below to skip around to specific topics in the episode.

The Reality of the Matter:

As we move out of summer and into the final part of the year, it’s easy to relax a little and concern yourself more with school, work, and the holidays. But this is a good time to look into your finances and make sure you’re taking advantage of the opportunities available.

That’s why we’ve put together a financial planning checklist for the 3rd and 4th quarter of the year on this episode of the Retirement Reality podcast. The list includes six areas to consider and decide if moves are necessary. From Roth conversions to charitable donations to retirement income, we’ll discuss areas that can make an immediate difference in your retirement portfolio.

We also open up the mailbag for the first time to take two listener questions. Mike will tell you what kind of annual return you should be seeking on retirement investments and whether you should be capturing 401(k) gains from a strong market.

Also, make sure you catch Mike talking about his recent visit to the Minnesota State Fair.

Just The Facts:

[1:21] – Mike talks about his trip to the Minnesota State Fair.

[3:13] – Let’s talk about a 3rd & 4th quarter planning checklist.

[3:53] – Item 1: Evaluating our IRA or Roth contribution options.

[5:31] – Item 2: Taking a look at your charitable donations.

[7:06] – Item 3: Offsetting your gains with losses.

[8:19] – Item 4: Get updated estimates on retirement income streams.

[9:49] – Item 5: Put a plan or schedule in place to get rid of your debt.

[11:12] – Item 6: Evaluate your portfolio and rebalance your investments.

[14:22] – Mailbag question: What kind of annual return should I be seeking on investments in retirement?

[15:54] – Mailbag question: I’ve seen a lot of growth in my 401(k) recently but I feel like I should capture these gains and take risk off the table. On the other hand, what if the market continues to go up?

Additional Resources:

Learn more about Qualified Charitable Distributions

Related Content:

5 Financial Myths That Need to Be Busted

Signs Your Financial Advisor Isn’t Right For You

Request Your Complimentary,
No Obligation Review

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Ep #3 – 3rd & 4th Quarter Financial Planning Checklist

September 19, 2019

Ep #3 – 3rd & 4th Quarter Financial Planning Checklist The Concept: As the…

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Believe it or not–someone turning 65 today has almost a 70% chance of needing some type of long-term care (LTC) service.1 When you think about it, the odds of being in a nursing home are a lot higher than totaling your car or losing your home to a fire. The cost of care planning is rising, and our population is aging, living longer, and costing us more. While long-term care insurance is one way to fund care planning expenses, it’s not the only option:

  1. Although among the least-used insurance products for LTC benefits annuity-LTC products deliver a lifetime income stream that increases in the event of an LTC need. It’s suggested that pure LTC products are best, but if you’re declined LTC by an insurer, annuities can serve as a healthy backup.2
  2. Life Insurance. Whole, term, or universal life insurance can all be converted into an LTC account. During this conversion, the policy ownership is transferred to an entity that acts as a benefits administrator, who takes on the responsibility of premium payments.3
  3. Qualify for Medicaid. Under the reality that many Americans are simply living longer, this strategy becomes more viable the closer you are to running out of money. The government assesses income and asset levels when deciding who qualifies, so once total assets are low enough, Medicaid will kick in. However, it should be noted that private insurance will likely provide a better quality of life.4

The secret to getting the care you’ll most likely need for the future? Planning today. Call us at 651.414.0016 (Woodbury office) or 715.808.8981 (Hudson office) and we can help you find the best LTC option(s) that best suited for you.

Chicken Piccata

If you’re looking to impress friends and family, but don’t want the hassle of cooking up an elaborate feast, turn to this chicken piccata recipe. Packed with the vibrant flavors of lemon, capers and parsley, this dish is sophistication and skill wrapped up in a deceptively simple recipe. Your guests will be in awe of your cooking skills and you’ll be able to kick back knowing how easy it was to whip up this flavorful recipe.

Here’s what you’ll need:

Directions:

  1. Season chicken with salt and pepper. Dredge chicken in flour and shake off excess.
  2. In a large skillet over medium high heat, melt 2 tablespoons of butter with 3 tablespoons olive oil. When butter and oil start to sizzle, add 2 pieces of chicken and cook for 3 minutes. When chicken is browned, flip and cook other side for 3 minutes. Remove and transfer to plate. Melt 2 more tablespoons butter and add another 2 tablespoons olive oil. When butter and oil start to sizzle, add the other 2 pieces of chicken and brown both sides in same manner. Remove pan from heat and add chicken to the plate.
  3. Into the pan add the lemon juice, stock and capers. Return to stove and bring to boil, scraping up brown bits from the pan for extra flavor. Check for seasoning. Return all the chicken to the pan and simmer for 5 minutes. Remove chicken to platter. Add remaining 2 tablespoons butter to sauce and whisk vigorously. Pour sauce over chicken and garnish with parsley.

Recipe adapted from Food Network5

Fall Golf Tips

Just like that, it’s officially Autumn. As cooler temperatures move in, the fall can be some of the best time to play golf. Here are some tips for getting the most out of golfing during this season:

  1. Walking the course gets the heart pumping and helps you stay warm and loose.
  2. Wear layers. Dress in layers so you can endure the drop in temperature and be able to face any wind and rain that comes with the season.
  3. Use a softer golf ball. It’s a fact that the golf ball doesn’t go as far in cooler weather. Not only do you lost distance in the fall, you can also lose feel. Try using a softer ball.
  4. Consider hand warmers. The cooler temperatures can cause you to lose feeling in your hands. Gain them back by using hand warmers for a better grip.
  5. Be realistic. Fall isn’t always the ideal time to play your best golf, but it’s a good time to relax, practice, and have fun.

Tips adapted from Golf Discount6

Stretches to Complement Your Workout

If you work out regularly, you’re already doing something to take care of your body. But as important as exercise is, it’s equally important to help your body recover. Here are some great stretches that will open up your hips, stretch out your hamstrings, and give your quads some love after a long run or lifting session:

 Tips adapted from Runner’s World7

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1 http://www.aaltci.org/long-term-care-insurance/learning-center/probability-long-term-care.php

2 http://www.investmentnews.com/article/20171009/FREE/171009944/how-to-pay-for-long-term-care-several-funding-options-exist

3 https://www.agingcare.com/articles/all-ways-to-pay-for-long-term-care-195529.htm

4 https://health.usnews.com/health-news/best-nursing-homes/articles/2009/03/11/4-ways-to-cover-the-cost-of-long-term-care

 

5 https://www.foodnetwork.com/recipes/giada-de-laurentiis/chicken-piccata-recipe2-1913809

 

6 https://www.golfdiscount.com/blog/fun-facts/fall-golf-guide-8-tips-for-the-seasonal-golfer/

 

7 www.runnersworld.com/uk/health/a760484/the-rw-complete-guide-to-stretching-for-runners/

 

BLOGS

Unexpected Ways to Fund Long-Term Care Expenses

September 16, 2019

Believe it or not–someone turning 65 today has almost a 70% chance of needing…

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The Concept:

When it comes to retirement planning, there are some widely believed financials myths that you’ve likely heard. Today we’ll look at some of those and try to bust them wide open. The scary thing is that a lot of people base their financial plans on some of these myths. Don’t be like that.

Click the timestamps below to skip around to specific topics in the episode.

The Reality of the Matter:

Let’s talk for a minute about financial myths. In an age where all types of information is available online, it can be difficult to decipher what’s right and wrong.

Because of that, there are some myths floating around that have become common-believed in retirement planning. They seem to make sense on the surface but basing your strategy on these myths can lead you astray.

On today’s episode of the Retirement Reality podcast, Mike Kojonen will tackle five different financial myths and explain why each isn’t completely true. Here they are:

Make sure you aren’t basing your financial plans on any of these until you listen to this episode.

We’ll also get to know Mike a little more by finding out who’s the person that can always make him laugh.

Just The Facts:

[2:22] – Getting to know Mike: Who is somebody that always makes you laugh?

[4:25] – Beginning our discussion on the biggest financial myths.

[4:49] – Myth 1: Shifting from stocks to bonds removes the volatility.

[6:42] – Myth 2: Once you’re retired, life insurance is no longer necessary.

[7:43] – Myth 3: You’ll need less income in retirement than when you’re working.

[9:43] – Myth 4: You will be in a lower tax bracket once you retire.

[10:55] – Myth 5: Financial planning today is easy to do by yourself now because there’s so much info available.

[13:08] – One final myth that Mike hears a lot.

[15:17] – Some people are so hard on themselves when planning for retirement.

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Ep #2 – 5 Financial Myths That Need to Be Busted

September 12, 2019

Ep #2 – 5 Financial Myths That Need to Be Busted The Concept: When…

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The Concept:

It’s not uncommon to meet people that aren’t completely satisfied with their financial advisor but don’t feel the need to make a change. Many times, relationships have been formed that prevent clients from making a tough choice, but other times the excuses are a little flimsier. Find out some of the common signs that your advisor might not be a great fit in this episode.

Click the timestamps below to skip around to specific topics in the episode.

The Reality of the Matter:

Finding a financial advisor that fits your goals and your needs can be one of the most important pieces to your retirement plan, but you’re not guaranteed to find that person on the first attempt.

It’s not uncommon to talk to investors that are uncertain or uneasy about their advisor, but don’t make the situation worse by sticking with that person just because. In this debut episode of the Retirement Reality podcast, Mike Kojonen talks about some of the most common excuses people make when sticking with the wrong advisor.

Take note of each of the four excuses today and evaluate your situation to see if any of them apply. We won’t tell you that we’re your best option as an advisor, but we do want you to be absolutely sure your advisor is that person.

The other topic of conversation for this episode tackles the recent presidential debates that have pitched the platform of forgiving student loan debt. Mike gives his opinion on the idea and also shares his personal philosophy as a parent of a child currently attending school.

We’ve laid out the main topics below to make your listening experience more organized. Feel free to click the timestamps to jump around to a specific topic in the episode.

Just The Facts:

[3:27] – In the news: Reacting to the campaigns to forgive student debt.

[6:29] – Mike shares his personal philosophy on how to handle student loans as parents.

[7:45] – Conversation about advisors begins.

[8:13] – Common excuse from clients: My portfolio hasn’t done well but he’s a nice guy and I don’t want to make a change.

[9:20] – Common excuse #2: I don’t understand everything in my portfolio but money isn’t really my thing.

[10:38] – Common excuse #3: We don’t regularly get together for reviews and we don’t talk often, but I assume he’s taking care of me.

[11:54] – Common excuse #4: He doesn’t really specialize in retirement planning but he’s an old friend so I stick with him.

[13:28] – What advice would you give someone that might be in this situation and having second thoughts?

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Ep #1 – Signs Your Financial Advisor Isn’t Right for You

August 30, 2019

Ep #1 – Signs Your Financial Advisor Isn’t Right For You The Concept: It’s…

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