Retirement Elevated Podcast with Sean Lee: Recent Episodes
Sean Lee
Financial and retirement planning guidance from Sean Lee of Elevated Retirement Group in Salt Lake City, Utah.
A little hope is good for the soul, but when it comes to retirement planning, wishful thinking can lead to serious financial mistakes. Today, Sean’s walking through five common examples of wishful thinking that can quietly damage your retirement and how you can build a plan that protects your future instead of relying on luck.
Here’s what we discuss in this episode:
💸 Why relying only on investment interest could cut your income short
🧾 The truth about taxes in retirement
🚗 Why “every day is Saturday” might wreck your spending plan
📉 How past investment success can create a false sense of security
👪 The emotional and financial risks of assuming kids will “help out”
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Contact us:
(801) 639-0095
slee@erg-slc.com
Are you saving so much for retirement that it’s squeezing your life today? In this episode, Sean answers a viewer question about finding the right balance between preparing for the future and living fully in the present. Can you save too much? Are you over-saving at the expense of living now? Sean addresses the listener’s concern that he’s maxing out multiple accounts but still feels like he’s living paycheck to paycheck. It raises an important point: Is it possible to be too focused on the future and miss out on the present?
Here’s what we discuss in this episode:
🧭 Why “starting with the end in mind” matters most
📉 The real risk of under-saving and over-saving
🧠 How your past shapes your money biases today
✈️ What pilots need to know about timing, taxes, and lifestyle
Rowe Price Benchmark Calculator: https://www.troweprice.com/personal-investing/resources/insights/youre-age-35-50-or-60-how-much-should-you-have-by-now.html
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Contact us:
(801) 639-0095
slee@erg-slc.com
Ever wonder what other people talk about with their financial advisors? A new survey of nearly 400 experienced advisors reveals the biggest concerns, challenges, and financial goals their clients are facing today. From retirement planning to healthcare costs to working longer than expected, we’re breaking down the key takeaways and how they compare to what we see in our own client conversations.
Here’s what we discuss in this episode:
📉 Outliving assets: why it tops the list
🏥 The overlooked risk of healthcare costs
💬 Why income planning matters more than portfolio size
🔍 The real reason so many people want to keep working
Check out the article here: https://www.fa-mag.com/news/retirement-planning-survey-2024-80450.html
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Contact us:
(801) 639-0095
slee@erg-slc.com
Tax season is here, but filing your 2024 return is just one piece of the puzzle. Now is also the perfect time to take advantage of new tax rules for 2025—before the year gets away from you. With higher standard deductions, increased retirement contribution limits, and updated HSA rules, there are plenty of opportunities to lower your tax bill and boost your savings. In this episode, we’ll break down the key changes and how you can start planning now to make the most of them.
Here’s what we discuss in this episode:
💼 New 401(k) contribution limits—especially for ages 60–63
🧾 Qualified Charitable Distributions = smart giving + tax benefits
🏥 HSAs: the “triple tax-advantaged” retirement healthcare tool
💡 Strategic Roth use (contributions & conversions) builds tax flexibility
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Contact us:
(801) 639-0095
slee@erg-slc.com
Do you really need a financial advisor, or can you handle your investments on your own? We received a question from someone who has been a successful investor and is wondering whether they would get value out of a financial advisor. Let’s dive into the pros and cons of DIY investing and explain how working with an advisor can actually save you money, time, and stress.
Here’s what we discuss in this episode:
💰 DIY Investing Risks
📉 Market Downturns & Retirement
🧾 Tax & Withdrawal Strategies – The piece most DIY investors overlook
👥 Succession Planning – Will your spouse or family know what to do?
0:00 – Intro
0:54 – First reaction
2:35 – Different challenges in retirement
6:45 – Stress of doing it alone
9:31 – More than investing
11:30 – Succession planning
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Watch the show on YouTube: https://www.youtube.com/channel/UCSvc4i_5kYjIQXyr0fNTeXQ?sub_confirmation=1
It’s been a tumultuous start to 2025 in the job market as layoffs are happening across a number of different sectors. No matter how you feel about the state of things, it’s important to take the necessary steps to prepare if you’re worried about that possibility.
We’re going to pull insights from the book Upgrade Your Path by Melissa Ceballos, PHR, SHRM-CP. She’s a great member of our team and a former HR professional, and this book is about navigating a career transition, elevating your professional trajectory, and financial success. We discuss the importance of self-assessment, networking, and understanding your financial situation, offering you a roadmap to take control of your careers and futures.
If you want to get your own copy of this book, we have a free giveaway offer available now: https://keap.page/vs490/upgrade-your-path-linkedin.html
Here’s what we discuss in this episode:
0:00 – Intro
2:22 – Career transitioning
3:58 – Federal employees
5:07 – What options do you have?
7:49 – First step after a layoff
11:55 – How jobs are changing
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Contact us:
(801) 639-0095
slee@erg-slc.com
As winter approaches, many retirees are looking for ways to escape the cold, and snowbirding has become a popular solution. But what does it really entail? In this episode, Sean shares insights on the top destinations for snowbirds, including the sunny shores of Florida and the warm deserts of Arizona.
Here’s what we discuss in this episode:
0:00 – Intro
1:49 – Top destinations
3:05 – Having two homes
4:37 – The RV/remote lifestyle
6:54 – Planning for this
10:46 – Sean’s thoughts on snowbirding
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Baseball and retirement planning might have more in common than you think. Just as a solid batting average leads to a successful career, a steady financial plan can pave the way for a winning retirement.
While it may be tempting to aim for high returns, a strategy focused on steady, incremental growth is often the key to lasting success. In this episode, Sean explains why having a clear, well-defined plan is so crucial. By applying the principles of baseball analytics to retirement planning, you can build a balanced strategy that helps you stay on track and achieve your goals.
Here’s what we discuss in this episode:
0:00 – Intro
2:00 – Your financial batting average
6:00 – Stability and consistency in retirement
9:05 – Building a winning portfolio
11:21 – Having a clear plan
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Contact us:
(801) 639-0095
slee@erg-slc.com
Retirement doesn’t have to break the bank, but with the rising costs of living, it can be tough to stay within your budget. It’s essential to find affordable ways to live life so if you’re looking to cut back on expenses, we have four budget-friendly activities that will keep you entertained without breaking the bank.
In this episode, we'll discuss options like free fun in nature, making new friends through clubs and volunteering, creative pursuits, and staying healthy and active. All of these things can improve your happiness and well-being, and help lead to a more fulfilling life in retirement.
Here’s what we discuss in this episode:
0:00 – Intro
1:07 – Free fun in nature
4:21 – Finding community and purpose
6:58 – Creative pursuits
10:21 – Staying healthy and active overall
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Contact us:
(801) 639-0095
slee@erg-slc.com
Everyone wants to know how to maximize their Social Security benefits. It’s a question that comes up nearly every time we meet with someone. While the simple answer is to wait as long as possible to get the largest monthly benefit, the strategy that you should choose needs to take your entire financial picture into account.
In this episode, we’re going to share a Social Security case study where a couple we worked with wanted to retire at 63 and 62 but originally planned to claim Social Security at full retirement age of 67. We’re going to break down the details of their financial situation and explain why the math eventually told them to take their benefits as soon as they retire.
Here’s what we discuss in this episode:
0:00 – Intro
2:47 – Case study details
6:14 – Taking Social Security immediately
12:20 – Social Security Fairness Act
16:08 – Final takeaway
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
How confident are you in your financial strategy? Are you feeling strong enough to rate it an 8, 9, or 10? This week, we're going to dive into what it takes to gain that confidence by sharing the five areas to help you improve your financial success.
Here’s what we discuss in this episode:
0:00 – Intro
2:20 – You know where your money is going to come from
4:28 – You know what your risk score is
6:23 – You have strategies in place to reduce your tax liability
7:51 – Healthcare considerations
9:46 – Legacy
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Contact us:
(801) 639-0095
slee@erg-slc.com
People nearing retirement often fall under one of the three Cs. Those are concerned, seeking clarity, or confident. In this episode, Sean breaks down these three mindsets, exploring the unique questions and needs that come with each. Let’s see which best describes you!
Here’s what we discuss in this episode:
0:00 – Intro
2:08 – Concerned
3:15 – The blurred line with clarity
6:30 – Seeking clarity
11:13 – Confident
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Contact us:
(801) 639-0095
slee@erg-slc.com
There’s been a growing buzz around Roth conversions, but what do they actually entail? This popular strategy makes a lot of sense within a financial plan, but like all tools, it’s not for everyone. In this episode, we dig into this complex subject with real-world examples that illustrate the potential benefits and pitfalls of this strategy.
Here’s what we discuss in this episode:
0:00 – Intro
1:45 – Roth conversions are situational
6:13 – Determining how much to convert
9:50 – Staying under IRMAA limits
13:05 – Age factors with Roth conversions
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Contact us:
(801) 639-0095
slee@erg-slc.com
Social Security is the backbone of retirement for millions of Americans, but big changes may be coming. On this episode, we dive into the recently released proposal to raise the full retirement age to 69 and what it means for your benefits, your future, and your financial security.
Here’s what we discuss in this episode:
0:00 – Intro
3:10 – The proposal
5:42 – Report details
8:53 – Lower benefits at age 62
11:00 – Will this improve Social Security?
13:38 – What changes will be made?
15:15 – What should you do now?
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Contact us:
(801) 639-0095
When it comes to creating a successful retirement plan, the financial metrics are going to be a big part of achieving your goals. In order to enjoy your retirement, you need to have the ability to fund your lifestyle and not run out of money. But money isn’t the only measurement of success.
Here’s what we discuss in this episode:
0:00 – Intro
0:23 – What does success look like beyond the financial numbers?
1:43 – How retirement looks can change
4:45 – Creating stability in income
8:03 – Shift happens!
Schedule a 15-minute consultation: https://calendly.com/erg-slc/15minutediscoverycall
Get your free copy of "Rounding Third:" http://rounding-third.elevatemyretirement.com/
Contact us:
(801) 639-0095
slee@erg-slc.com
Dividend investing has long been a popular choice for retirees looking to generate a steady income but is living off dividends still a viable strategy? Today we’ll talk more about the ways to generate income and the strategies we use to help ensure our clients have enough to live comfortably.
Here’s what we discuss in this episode:
0:00 – Intro
0:24 – Spring Training baseball
3:08 – Ways to generate income
5:38 – Incidental income
7:04 – Diversification
9:32 – Taxes
For more, visit us online at https://retirementelevatedpodcast.com/
Watch the show on YouTube: https://youtu.be/xte1rK7_IFY
Remember the thrill of shaking a Magic 8 Ball to get answers to your childhood questions? Would we ace that math test? Would we be famous someday? Well, today, we're bringing a bit of that magic back. But instead of asking about pop quizzes and playground crushes, we’re turning to the Magic 8 Ball for advice on something much more important: your retirement planning! What would the Magic 8 Ball have to say about these common retirement questions if it had the wisdom of a financial advisor?
Here’s what we discuss in this episode:
0:00 – Intro
2:00 – Never too early to start saving
5:12 – Is 1 million enough?
8:15 – Can I rely on Social Security?
10:24 – Multiple sources of retirement income
11:48 – Fewer retirement expenses?
14:58 – Future tax laws
For more, visit us online at https://retirementelevatedpodcast.com/
Watch the show on YouTube: https://youtu.be/EMwDg_zQhmg
Planning for retirement involves many crucial decisions, one of which is determining the best order to withdraw from your retirement accounts. Traditional advice often suggests a sequential approach- pulling money out of one type of account completely before moving to the next. But is this really the best strategy for everyone?
Tune in as Sean shares some key factors to consider when deciding the best approach for your retirement planning.
Here’s some of what we discuss in this episode:
- Why Sean doesn’t believe a sequential withdrawal approach is best
- How different withdrawal strategies can affect your tax liabilities and Medicare premiums
- What does it mean to simultaneously pull money out of your accounts?
- Working with a professional to customize your withdrawal strategy
For more, visit us online at https://retirementelevatedpodcast.com/
No one hits a home run every time! While home runs are an exciting part of any baseball game, the end result of who wins the game has a lot more to do with how the rest of the game is played. Drawing from his extensive experience both on the field and in finance, Sean provides valuable insights into how the principles of baseball can be applied to crafting a successful retirement strategy.
Here’s some of what we discuss in this episode:
- The plan has to work.
- How the game is really won.
- What five things are needed in a retirement plan.
For more, visit us online at https://retirementelevatedpodcast.com/
Investing can be a daunting task, especially for those who are new to the game. In this podcast, Sean shares his expertise on common rookie investing mistakes and how to avoid them. Whether you're just starting out or looking to refine your strategy, Sean emphasizes the importance of knowing what each investment is for. Just like players on a baseball team, each investment should have a specific job to do.
Here’s some of what we discuss in this episode:
- Rookie mistakes happen, whether it’s in baseball or finances.
- Every investment should have a purpose.
- Understand the risk each investment carries.
- Be careful about letting your emotions take over your financial decisions.
- Use caution with “hot tips” you hear.
For more, visit us online at https://retirementelevatedpodcast.com/
Who are the people who have the highest satisfaction in retirement? And how can you be one of them? It begins with understanding your retirement needs. Sean outlines the importance of clarity and confidence in your financial situation. He stresses that knowing the math problem- what you'll need versus what you'll have- is the first step toward a robust retirement plan.
Here’s some of what we discuss in this episode:
- What does “peace of mind” mean in retirement?
- The three ways to create income from your investments.
- Having and keeping financial independence in retirement.
For more, visit us online at https://retirementelevatedpodcast.com/
Have you ever wondered about the decisions in life that you can't take back? Today, we deep dive into the irreversible choices that can shape your financial future, especially when it comes to retirement.
Here’s some of what we discuss in this episode:
- When you start taking Social Security matters.
- Choose wisely regarding your pension benefits.
- You can’t get life insurance once it’s too late and your family needs it.
- How to know what the right retirement date is for you.
For more, visit us online at https://retirementelevatedpodcast.com/
What kinds of financial mistakes do people make amidst a divorce? If you find yourself facing a divorce, there are some financial things you will want to be aware of as you move forward. From how to divvy up assets in a way that is financially sound to dealing with your emotions, there’s a lot to keep in mind.
Here’s some of what we discuss in this episode:
- Choosing the house over other financial assets.
- Don’t ignore tax implications of retirement funds.
- Rolling a spouse’s retirement account directly into an IRA.
- Your emotions can cloud your decision-making.
- How does an advisor help a couple getting a divorce?
For more, visit us online at https://retirementelevatedpodcast.com/
Movie villains are usually pretty easy to identify with their ominous music, masks, and often dark clothing. In the financial world, some of the villains can be a bit harder to spot. We talk about some of the most infamous movie villains and share what they have in common with some of the dark and scary things financially speaking. From the Wicked Witch of the West and her flying monkeys to the hardships that inflation can cause, which of these villains are you ready to face head-on?
Here’s some of what we discuss in this episode:
- Inflation shows up with a vengeance.
- Overly fixating on one issue or financial product can be risky.
- Individualized plans can make a difference.
For more, visit us online at https://retirementelevatedpodcast.com/
What are the milestone moments you face in retirement as you age? Today, we talk about some of the ages to keep in mind and why they are important as you reach each one. Whether you are a few years off or if you are right in the middle of these, thinking through what you should be doing with the money can make a huge impact in your financial life.
Here’s some of what we discuss in this episode:
- The unofficial kickoff of retirement is age 50.
- Age 55 is when you need to think about your 401(k) options.
- When you turn 59 and a half, you have access to your funds.
- Under current law, age 62 allows you to withdraw from Social Security.
- At 73 (currently) you have to start taking money out of your retirement accounts.
- What’s the most important age?
For more, visit us online at https://retirementelevatedpodcast.com/
What are your portfolio expectations? Are they too high? Today we talk through an article that shares investor expectations on their portfolio and why, in many cases, they are higher than they should be. We discuss some of the differences in expectations across the globe. More than that, we consider what the meaning of those returns are and how much we should place value on them. What does your lifestyle require? How can you create more clarity with your finances?
Here’s some of what we discuss in this episode:
- Investment return expectations for investors vs. financial advisors.
- How do we manage expectations?
- What do I need to make my lifestyle possible?
- Should we plan for a recession?
For more, visit us online at https://retirementelevatedpodcast.com/
Let’s play a game of fill in the blank with Sean to see how he would finish off these financial statements. What will the market do to you? What’s the best way to set yourself up for success in retirement? What’s the biggest financial mistake retirees make?
Here’s some of what we discuss in this episode:
- The best way to be sure you don’t run out of money in retirement.
- The stock market has the ability to do what?
- Run the other way when a financial advisor does what?
- The most common mistake retirees make.
For more, visit us online at https://retirementelevatedpodcast.com/
Ever wish you could learn about financial planning from a funny cartoon character? Today, we take some lessons from Homer Simpson to see what kind of financial wisdom we can learn. From what we are teaching our kids about money to facing uncertainty about our retirement savings, you’ll want to have some healthy financial habits. You also likely have a number of goals you want to achieve. Having a financial plan in place will give you the strategy and action steps needed to get there.
Here’s some of what we discuss in this episode:
- “Kids are great…with the internet now, they practically raise themselves.”
- “People can come up with statistics to prove anything!”
- “Let’s not panic, I’ll make the money by selling one of my livers.”
- “All my life, I’ve had one dream —to achieve my many, many goals.”
For more, visit us online at https://retirementelevatedpodcast.com/
Before we reach the end of the year, what financial goals can you easily cross off your list? As a continuation of this two-part series, we discuss five more easy wins you can make when it comes to your financial life. If you didn’t hear part one, go back and listen to hear what other simple financial steps you can take.
Here’s some of what we discuss in this episode:
- Analyze tax efficiency of your investments.
- Make sure your beneficiary designations are up-to-date.
- Rebalance your portfolio.
- Have a proper emergency fund in place.
- Automate your savings.
For more, visit us online at https://retirementelevatedpodcast.com/
From having the right amount of money in the bank to consolidating your accounts, there are simple ways you can improve your finances. On this two-part series, we discuss some of the easy wins you can make when it comes to your financial life. These things can add up to make a big difference, so stay tuned!
Here’s some of what we discuss in this episode:
- Having the right amount in cash.
- Finding the life insurance policy for you.
- Consolidating your 401(k) accounts.
- Considering your mutual funds.
- Replacing your funds as needed.
For more, visit us online at https://retirementelevatedpodcast.com/
Dave Ramsey is known for doling out financial advice, but a lot of it is broad and general. Some of it is sound advice and some of it might be more for the benefit of building up likes and views on social media. Today, we talk through what’s what and see what Sean thinks as a financial advisor. Make sure your financial strategy is customized to your unique needs and goals.
Here is the financial advice we discuss to see if it rings true:
- “Don’t invest in anything if you can’t tell me how it works.”
- “Don’t invest in something if you’re excited. If your pulse rate goes up too high, maybe you’re getting conned.”
- “Do not jump in and out of investments based on what you hear on the news.”
- “If you’re not careful, you make short-term decisions which keep you in a short-term solution.
- “People that retire wealthy, well it wasn’t an accident.”
For more, visit us online at https://retirementelevatedpodcast.com/
The pandemic brought some long-lasting changes, including remote meetings. In fact, Sean says about half of their financial advising meetings are still virtual. How does this benefit the client?
Here’s what we talk about on today’s show:
- With the change in technology, virtual meetings are more common.
- Convenience can come from meeting online.
- If you prefer meeting in person, how can you get the same experience?
- What should you ask a potential advisor about working together remotely?
- How can you be sure the information is secure?
For more, visit us online at https://retirementelevatedpodcast.com/
While Sean didn’t set out to write a baseball book, his love of both baseball and financial planning just came together here and his two worlds collided.
On today’s podcast we talk about his book, Rounding Third: Preparing for Your Finances for the Home Stretch to Retirement. This short and straightforward read has a lot of easy-to-understand financial lessons.
You can learn a lot from the game of baseball. These lessons and analogy carry a lot of meaning for Sean as he relates it to what you need to know when preparing for retirement.
Here’s what we talk about on today’s show:
- How did this book come to be? (1:01)
- How did baseball and financial planning come together? (2:09)
- Who is this book for and how can you get it? (6:03)
- What chapter of the book is Sean’s favorite? (9:22)
For more, visit us online at https://retirementelevatedpodcast.com/
We all hear sayings and information that may or may not be true. Are you basing your financial plan on things you heard through the grapevine without finding out if it rings true for you? Instead of going off of what you’ve heard, ask yourself: “What do I want my life to look like?” Join us as we discuss these common ideas and share some questions that will help you make a plan that aligns with your personal goals.
Here are the things people “hear” all the time and what Sean has to say about them:
- I heard…you have to have a million dollars to retire. (1:56)
- I heard…you should start taking Social Security ASAP. (6:43)
- I heard…I should go to gold. (9:48)
- I heard…the market is going to crash soon. (13:21)
For more, visit us online at https://retirementelevatedpodcast.com/
Not everyone has a financial advisor they know and trust. It can be scary to trust a financial advisor, especially when it comes to your nest egg. Sean talks about how he builds trust with clients and what it takes to find the right fit. You want to find someone who can create a financial plan that you are willing to follow and feel confident about.
Here are the reasons people don’t visit an advisor that we talk about on today’s show:
- Some people struggle to trust advisors. (2:13)
- The perceived cost gets in the way. (7:09)
- Some think they can just do DIY. (9:54)
- People misunderstand an advisor’s role. (12:43)
For more, visit us online at https://retirementelevatedpodcast.com/
After a busy spring, we look toward summer and all that is ahead! There’s exciting news in the office of Elevated Retirement Group as they prepare to move locations.
Here are the updates Sean shares on today’s show:
- What’s the latest with Sean, his family, and his business? (0:17)
- The office is moving after five years. (2:24)
- A new book is coming! (4:08)
- There’s always something happening, so a strategy is key. (7:35)
For more, visit us online at https://retirementelevatedpodcast.com/
If hindsight is 20/20, what do you wish you knew before now? Instead of wishing you could remake the financial decisions of your past, we talk about the ways you can be more proactive and prepared for financial decisions now and in the future.
Here’s what we'll talk about today:
- Market volatility can cause uncertainty. (1:04)
- Not understanding your risk until it’s too late. (5:37)
- Taking Social Security without understanding the strategy. (7:48)
- Wishing you put more money into tax-beneficial options. (10:31)
- Retiring too early and having no choice but to go back to work. (12:51)
For more, visit us online at https://retirementelevatedpodcast.com/
After saving and waiting for so many years, no one wants to make a big mistake that ruins retirement! Making certain assumptions about what retirement will be like may lead to disappointment. On today’s show, we dive into the realities of retirement and some easy ways you could ruin it, drawing on Sean’s insightful conversations with clients as they navigate this new chapter in their lives.
Here are the ways you can easily ruin your retirement:
- Treating retirement as a destination instead of a journey. (2:14)
- Believing that retirement will solve everything. (4:20)
- Assuming your monthly spending habits will be the same. (6:01)
- Investing like you’re 35 years old when you’re 65. (8:59)
- Stop being active. (11:55)
For more, visit us online at https://retirementelevatedpodcast.com/
Following the wisdom and quotes of Yogi Berra, we compare some lessons in financial planning with what we’ve heard from this famous professional baseball player. From assessing past financial decisions you’ve made to planning for your financial future, there’s a lot of takeaways we can learn from Yogi Berra.
Here are the quotes we discuss on today’s show:
- “I never said most of the things I’ve said.” (2:18)
- “A nickel ain’t worth a dime anymore.” (4:20)
- “If you don’t know where you’re going, you might end up someplace else.” (5:40)
- “When you come to a fork in the road, take it.” (7:10)
- “The future ain’t what it used to be.” (9:34)
- “It’s like déjà vu all over again.” (10:40)
For more, visit us online at https://retirementelevatedpodcast.com/
In this episode, Marc and Sean will discuss a recent CNBC article about a man who ‘un-retired’ at 67 because he was bored and restless. What are the biggest issues people face when they don’t have a plan for retirement? We’ll tell you what we’ve seen and talk about what you can do to avoid that feeling.
Here’s a little of what we discuss in this episode:
- The issues people usually have with trying to have things to do in retirement. (1:38)
- The regret category where people miss what they were doing. (3:12)
- Being active is important for mental health. (4:50)
- Feeling like you’ve lost your identity. (6:45)
- Using a Venn Diagram to help you organize what’s most important. (7:59)
Read the CNBC article:
https://www.cnbc.com/2022/06/15/67-year-old-who-unretired-at-62-shares-the-biggest-retirement-challenge-that-no-one-talks-about.html
For more, visit us online at https://retirementelevatedpodcast.com/
The Secure Act 2.0 was recently passed, so we talk about some of the key takeaways that might impact your financial plan on today’s episode. Some changes are for the better and some changes might take some time to get used to. Which of these might benefit your financial plan the most? Listen to find out.
Here’s what you'll learn about on today’s show:
- The RMD age was pushed back. (1:53)
- How does this change with a Roth 401(k)? (4:02)
- Automatic enrollment is being implemented. (7:27)
- Student loan debt payments can be matched. (9:23)
- Changes to 529 plans. (11:43)
- Company matches can be in a Roth account. (13:55)
Get in touch with Sean and the team at https://retirementelevatedpodcast.com/
In honor of our 100th episode, we have a special guest on the show! Sean’s son, Michael, joins us and shares about his experience having his dad as a coach. From exercises to tournaments, there’s a lot that goes into it.
While Sean coaches Michael in baseball, he also coaches several people throughout the week when it comes to retirement. Do you need a coach when it comes to retirement planning?
Here’s what Michael shares in today’s show:
- What kind of drills do they work in at baseball? (1:40)
- Sean shares about his two favorite things to talk about. (4:10)
- What does Michael like? (4:29)
- Where does Michael want to go to college? (5:36)
- What’s Michael’s favorite baseball team? (6:13)
Get in touch with Sean and the team at https://retirementelevatedpodcast.com/
Some people dream about retiring and it can’t come soon enough. For others, maybe it’s something they are putting off. We talk through the varying degrees of interest and readiness in retirement and how to plan accordingly.
Here are the reasons you wonder about getting a new advisor:
- I love what I do. (1:30)
- I could retire, but my job is still a good situation. (3:37)
- I have no idea if I can retire or not. (5:46)
- Retirement should be soon. (8:04)
- I hate my job and can’t wait to get out. (9:49)
Get additional financial resources online:
https://retirementelevatedpodcast.com/
As the saying goes, the grass is always greener on the other side. When is the grass greener with another financial advisor? We talk about a number of reasons someone might consider looking at leaving their current advisor for another one. Sean shares why some of these reasons might be worthwhile and why some of these reasons don’t have to be dealbreakers.
Here are the reasons you wonder about getting a new advisor:
- Making a mistake that costs you money. (1:28)
- The business has gotten too big. (4:09)
- A dinner seminar has some appeal. (6:47)
- I’m moving across the country. (9:48)
- The market has been volatile. (13:35)
Get additional financial resources online:
https://retirementelevatedpodcast.com/
In honor of Thanksgiving, we share some of what we’re thankful for and what we look forward to with the holidays. When it comes to working with a financial advisor, what is there to be thankful for? We discuss five reasons you might be thankful for your advisor (and what to do if this doesn’t describe your relationship with an advisor).
Reasons to be thankful for the financial advisor in your life:
- For providing a comprehensive plan to build and protect your wealth. (2:28)
- Finding clarity and good expectations in the relationship. (4:56)
- Working with a fiduciary. (6:36)
- Having a trustworthy advisor. (9:02)
- Being able to have conversations and regular communication (11:11)
Get additional financial resources online:
https://retirementelevatedpodcast.com/
What are your three biggest assets when it comes to saving for your retirement and your future? For most people, this is your 401(k), your house, and Social Security. We talk today about how to best leverage these assets and manage them properly. It can make all the difference in retirement.
Timestamps:
- What kind of strategy went into picking the fund for your 401(k)? (1:23)
- What happens with that 401(k) when you’re ready to retire? (2:42)
- Is your home an asset you’ll want to use later? (4:31)
- Social Security is much bigger than you realize. (7:41)
Get additional financial resources online:
https://retirementelevatedpodcast.com/
When it comes to the media, sensational headlines sell, but they might cause you to panic with your finances. Are the angst and fear around the markets or interest rates logical or a little overdramatic? We talk about how to know if the advice and information is a helpful resource to follow.
Timestamps:
- Don’t make knee-jerk reactions to short-term issues. (2:04)
- Recognize which stories are real and which ones are paid advertisements. (4:43)
- Determine whether you are the intended audience or not. (6:48)
- Find the person who is the right fit for you. (11:17)
Get additional financial resources online:
https://retirementelevatedpodcast.com/
When it comes to your investments and your financial plan, the last thing you want to do is mess it up. We talk through a few ways this can happen and how to avoid them.
Timestamps:
0:51 - Don’t make any sudden decisions.
5:02 - Don’t jump into investments you don’t understand.
8:07 - Work with a professional.
9:36 - The plan is more than the investment.
11:22 - Do you want to DIY?
Get additional financial resources online:
https://retirementelevatedpodcast.com/
On Today's Episode:
What can we learn from Aesop’s fables when it comes to gaining financial wisdom? Sean shares how each of these fables relate to our own financial decisions.
Timestamps:
0:28 - Time for back to school!
1:52 - What can we learn from the miser and his gold?
6:38 - The tortoise and the hare shows us that slow and steady wins the race.
10:29 - What about the dog and his shadow?
More About Today's Episode:
There are a few fables that teach us about life and money. Today, we’ll go through some fables and find out what they teach us financially.
In the miser and his gold, a miser digs up his gold to look at it but then it got stolen. Instead of using it, he would only look. Wealth not realized and used isn’t wealth. While we might be programmed to save and accumulate, don’t forget to use it. Sometimes Sean has to convince clients to spend their money. Having financial safety and security is good, but learn how you can use that money to your advantage while you’re still around.
The tortoise and the hare is a well-known story of the overconfident hare who doesn’t plan ahead while the slow and steady tortoise comes out ahead. Rushing to make money quick isn’t the answer you want. The slow and steady approach to accumulating wealth is often what works best. Building consistent habits over time will lead to financial success.
Lastly, the dog and the shadow is about a dog with a piece of meat walking home. When crossing a stream, the dog sees its reflection and tries to grab the piece of meat in the reflection and ends up losing the meat in his mouth. In the financial world, if you don’t have a clear plan, you might try to jump towards something else too soon.
Get additional financial resources online:
https://retirementelevatedpodcast.com/
When we’re not outside playing baseball, it’s fun to play a few games that challenge our minds. Trivia TV show Jeopardy inspired today’s podcast as we quiz Sean on a financial round of questions.
Key topics on this episode:
0:39 - Ready to play Jeopardy?
1:55 - High fees and broken promises with market risk.
3:25 - What requires a financial professional to put the client’s interests first?
5:01 - What financial phenomenon always returns?
7:39 - This forces retirees to drain their retirement accounts.
10:17 - What defined benefit retirement program is becoming scarce?
Get additional financial resources online: https://retirementelevatedpodcast.com/
What do you need to mark off your to-do list in the ten years before retirement? On today’s episode, we’ll explain a few of the big items you want to consider in this retirement planning time period.
Key topics on this show:
1:10 – What do you want out of retirement?
2:54 – Knowing your numbers
4:34 – Get a strong understanding of your needs
5:48 – Get a handle on your healthcare
7:42 – Things are going to change
For more financial resources, visit us online: http://retirementelevatedpodcast.com
What trips people up when they try to make financial decisions? We talk through financial roadblocks and how to avoid them on today’s show.
Key topics on this show:
1:28 - There are a lot of decisions to make.
3:26 - We do some research.
6:55 - The financial industry can be full of jargon and confusion.
7:44 - Talking about money may seem taboo.
10:18 - Big life events can make it hard to think clearly.
For more financial resources, visit us online: http://retirementelevatedpodcast.com
What do dads do that make us laugh or roll our eyes? What’s the equivalent in the financial world? Find out on today’s show!
Read more and get additional financial resources here: http://retirementelevatedpodcast.com
Key points:
0:35 - The summer heat has hit.
1:36 - If you get hurt, do you need to amputate?
5:27 - Dads use their strength to take one trip with all the grocery bags.
8:51 - Is dad always on the lookout for the best parking spot?
Do you ever feel bogged down by all the research before making a big decision? When is research helpful and when is it too much?
Read more and get additional financial resources here: http://retirementelevatedpodcast.com
Key points:
1:16 - Many do more research for a vacation than retirement.
2:17 - What kind of resources does Sean like?
4:34 - Does Sean ever hear, “I read on the internet that…”?
7:45 - Are you overanalyzing the research?
9:26 - What’s good about doing research?
We all want to be able to enjoy peace of mind in our retirement but there are some common pain points that we all have to work through. Let’s look at the areas of retirement planning that can cause you the most worry if you haven’t done the proper planning.
Read more and get additional financial resources here: http://retirementelevatedpodcast.com
Key points:
1:46 – Fear of running out of money
2:54 – Replacing that paycheck
4:36 – Managing taxes
6:02 – Dealing with a long-term care event
8:29 – Anxiety around the next market crash
How do you get the financial answers you need? Start with the right questions! We discuss what kinds of things you should be asking in order to work toward your financial goals.
Read more and get additional financial resources here: http://retirementelevatedpodcast.com
What we discuss in this episode:
0:34 - Baseball is back!
2:33 - How much money do I need to save?
5:28 - How can I get the highest rate of return?
7:47 - How can I pay the lowest fees to an advisor?
10:14 - What should you do about long-term care?
Are you feeling a bit anxious about your financial situation every time you read or watch the news? Sean talks through current events and what kind of economic impact they could have.
Read more and get additional financial resources here: http://retirementelevatedpodcast.com
What we discuss in this episode:
0:13 - What is happening at the tank?
1:48 - What is happening with Ukraine?
3:43 - How will this volatility impact us?
6:21 - Are we headed into a recession?
9:00 - What should we do about market volatility?
What kind of fees or expenses are you overlooking? We talk through common areas where costs sneak up.
What we discuss:
0:32 - Youth baseball season is back!
1:46 - Mutual fund expenses can be hard to find.
3:11 - Variable annuities are notorious for hidden fees.
5:40 - Inflation is back with a vengeance.
8:18 - Tax increases will impact us.
10:06 - People are ready to spend on leisure.
Get additional financial information: https://retirementelevatedpodcast.com/
How are geopolitical events impacting the market? What is being reported on and what is not? On today’s special market update show, Michael Sorrentino, CIO of Elevated Capital Advisors, discusses these topics and more.
What we discuss:
0:55 – Let’s talk through this
1:55 – Catalysts for volatility
5:33 – What’s not being reported
11:06 – The shift that’s occurring now
13:28 – Geopolitical pressures with Russia
15:24 – Rising interest rates
18:15 – How does this impact spending?
20:11 – Starting early and going slow
23:01 – Adjustments based on fundamentals
23:49 – What are we not going to do?
26:34 – The economy is strong
Get additional financial information: https://retirementelevatedpodcast.com/
What can you expect when going through the planning process when working with a financial advisor? Sean explains the process at Elevated Retirement Group and how it helps his clients reach their financial goals.
What we discuss:
0:30 - How do we feel about this year’s Super Bowl?
1:33 - What signs show an advisor is overly focused on selling?
2:35 - What information are they gathering about you?
2:54 - Are they pointing out the good and the bad?
3:41 - What’s the process at Retirement Elevated?
5:40 - What improvements have Sean made in the planning process?
6:58 - What advice would Sean give his former self?
8:42 - Is there something unique about the experience working with Retirement Elevated?
Get additional financial information: https://retirementelevatedpodcast.com/
There’s a whole lot of life we can’t control, but let’s focus instead on what you can control. Regardless of what the future may bring, you still can take control and strategize as best as possible now.
What we discuss:
1:19 - Can’t control the market.
4:49 - Can’t control how long you’re going to live.
6:40 - Taxes are inevitable.
8:47 - Is Social Security a part of your future?
Get additional financial information: https://retirementelevatedpodcast.com/
What things should you be focusing on in 2022? We talk through a checklist of financial things to focus on in the new year.
What we discuss:
1:23 - Adjust tax withholdings.
3:43 - Assess retirement contributions.
5:52 - Gather your tax information.
8:19 - What’s your overall retirement health?
Get additional financial information: https://retirementelevatedpodcast.com/
What can we learn from characters like Scrooge or George Bailey when it comes to your financial plan? Sean shares how to can have a better approach to your finances in this fun Christmas episode.
Read and get additional financial information: https://retirementelevatedpodcast.com/podcast/ep-79-classic-christmas-characters/
What we discuss:
0:34 - Sean has big holiday plans!
1:39 - Are you like Cousin Eddie?
4:10 - Scrooge is a classic stingy guy about money.
7:02 - George Bailey was always stressed.
9:19 - Kevin McCallister had to figure out how to make it on his own.
What should you do before the ball drops on New Year’s Eve? Sean talks through key financial moves to make before the 2021 year ends.
Read and get additional financial information: https://retirementelevatedpodcast.com/podcast/ep-78-end-of-the-year-financial-moves/
What we discuss:
1:06 - Is it too late to max out retirement contributions?
2:48 - Have you taken out your RMDs?
4:04 - Explore tax-loss harvesting possibilities.
5:30 - Are you giving to charity?
6:55 - Will purchases give you a tax credit?
7:49 - Is a Roth conversion right for you?
Is that the whole truth and nothing but the truth? So often we hear these financial concepts but don’t get the full picture of what’s going on and what to look for. Sean shares what you really need to know.
Read and get additional financial information: https://retirementelevatedpodcast.com/podcast/ep-77-financial-half-truths/
What we discuss:
0:20 - What are Sean’s and Marc’s favorite holidays?
2:05 - “Don’t worry about those losses.”
5:25 - “The fees are less than one percent.”
7:43 - “Diversification is key.”
Everyone wants to make the best decisions when it comes to their money and their future. In what ways can you avoid making mistakes when choosing a financial advisor?
Read and get additional financial information: https://retirementelevatedpodcast.com/podcast/ep-76-mistakes-to-avoid-when-choosing-a-financial-advisor/
What we discuss:
0:26 - Sean’s getting ready for the holidays.
1:43 - How can you avoid making mistakes when looking for an advisor?
4:27 - Bigger is not always better.
6:58 - Don’t pretend you know, ask questions.
9:17 - Work with the advisor with the right specialty.
Is it time to put your lazy money to work? On today’s show, we talk about what lazy money is and why you shouldn’t keep too much of it lying around.
Read and get additional financial information: https://retirementelevatedpodcast.com/podcast/ep-75-lazy-money/
What we discuss:
1:00 - What is lazy money?
3:09 - Why do people have it?
4:29 - Why is having lazy money dangerous?
6:43 - How does Sean help?
What kind of decisions do you need to make when it comes to your home in retirement? Sean talks through several scenarios people tend to consider when it comes to their house.
Read and get additional financial information: https://retirementelevatedpodcast.com/podcast/this-ones-on-the-house/
What we discuss:
0:39 - How’s everything been?
1:28 - Feeling ready to downsize?
4:23 - Should you pay off the house?
6:22 - Thinking about a vacation home?
8:22 - Wondering about moving out of state?
10:20 - What are the perks of a retirement community?
What are the questionable kinds of financial advisors you should look out for? On today’s podcast we have a bit of fun as we categorize a few different types of advisors you may want to steer clear of.
Read more and get additional financial resources here: https://wp.me/paeqsR-dc
What we discuss on this episode:
0:40 - What are Sean’s Labor Day plans?
2:40 - The guy with a hammer.
3:49 - The oxygen hog.
5:40 - The car trunk operator.
9:29 - The non-answerer.
From the next few years and into retirement, what’s scaring you? And what do people wish they had done sooner? We ask Sean several questions to help ease your fears by making a plan.
Read more and get additional financial resources here: https://wp.me/paeqsR-d6
What we discuss on this episode:
1:49 - What scares people about retirement?
3:38 - Which is scarier: inflation, rising taxes, or market volatility?
5:51 - What tax bracket do people find themselves in during retirement?
6:03 - Which tax situation best describes people in retirement?
8:17 - How much money does the average person need saved for retirement?
9:52 - What do people wish they had more of?
Let’s go through the retirement checklist to cover all the key issues you should think about before retirement. How prepared are you?
Read more and get additional financial resources here: https://wp.me/paeqsR-cY
What we discuss on this episode:
0:50 - What should we consider before we retire?
2:52 - Are you retiring early?
4:24 - What is the Social Security elimination windfall?
5:38 - What do you need to know if you’re divorced or widowed?
8:13 - What health insurance issues do you need to cover?
9:48 - What about dental or vision insurance?
11:03 - What happens to your HSA?
11:32 - What about Medicare?
12:41 - If you’re disabled, what do you need to know?
13:16 - Are you concerned about funding long-term care?
Ever wonder what you should keep or what you can toss? Let’s discuss your important financial documents and how long you need them.
Read more and get additional financial resources here: https://wp.me/paeqsR-cS
What we discuss on this episode:
0:26 - Sean’s enjoying summer time.
1:11 - What tax documents should you keep on file?
2:59 - What healthcare documents do you need?
5:20 - What other legal documents do you need to keep?
7:34 - What asset or debt related documents do you have?
9:25 - What do business owners need to keep?
11:13 - What about your mortgage?
For whatever reason, forced and early retirements do happen. What should you do? Sean talks through some strategies to make sure the transition is as smooth as possible.
Read more and get additional financial resources here: https://wp.me/paeqsR-cG
What we discuss on this episode:
0:24 - How does Sean celebrate the 4th of July?
1:40 - Forced retirement unfortunately happens.
4:11 - What ways can we cope with forced retirement?
5:47 - What kind of emotional and planning response could be triggered?
7:10 - When should you do more Roth conversions?
8:23 - What should you do first?
Are you prepared for these possible unexpected expenses in retirement? Find out what you need to include in your plan to be prepared.
Read more and get additional financial resources here:
https://retirementelevatedpodcast.com/podcast/unexpected-retirement-expenses/
What we discuss on this episode:
1:05 - What retirement expenses get overlooked?
1:34 - What medical expenses are typical?
4:01 - Travel is typical in retirement. But what’s unexpected?
7:54 - Family care can be costly.
9:36 - Taxes should be planned for.
Taxes in retirement require a lot of strategy and planning to get it right. What can you be doing now to prepare for taxes later on?
Read more and get additional financial resources here: https://wp.me/paeqsR-cs
What we discuss on this episode:
1:02 - The economy is made up of several components.
4:32 - Fund your Roth 401(k).
6:02 - Is cash value life insurance worth considering?
9:09 - Have you considered a Roth conversion?
A great way to save for and build toward retirement in through your 401(k) at work. That said, some of these common mistakes can cause real issues. On today’s podcast, we discuss possible pitfalls with your 401(k) and how to avoid them.
Read more and get additional financial resources here: https://wp.me/paeqsR-cl
What we discuss on this episode:
0:30 - Spring is Sean’s favorite time of year.
0:58 - Left the job and leave the 401(k) behind?
3:00 - Are you rebalancing?
4:23 - How does rebalancing work within a target date fund?
7:04 - Does the 401(k) planner have our best interest in mind?
9:08 - Are you assuming fees are minimal?
When you study people who retire wealthy and comfortable, there are some key things they usually do. We’ll explain how you can achieve satisfaction with your retirement.
Read more and get additional financial resources here: https://wp.me/paeqsR-cc
What we discuss on this episode:
2:45 – Peace of mind
5:59 – Diversity of assets
7:15 – Confidence
9:15 – Working with an advisor
What’s the latest news about the SECURE Act and inherited IRAs? The SECURE Act was the death of the stretch IRA. Previously, inheritors were allowed to stretch out the withdrawals of the inherited IRA over their life expectancy. The SECURE Act that was enacted at the beginning of 2020 changed things to the 10-year rule. But is it what we thought it was?
Read more and get additional financial resources here: https://wp.me/paeqsR-c7
What we discuss on this episode:
0:20 - Sean is living the spring dream.
1:20 - The RMD rule in the SECURE Act is not what you think.
2:36 - What is the new rule?
5:04 - What happens if someone leaves you money in your prime income years?
7:05 - Are you tax planning?
8:45 - What questions should you ask your advisor?
Have you stopped to think about what you want retirement to look like? Past your financials, retirement planning has a lot to do with your goals and wants when it comes to how you plan to spend your time. Today, Sean talks with Daniel Allgaier, CFP®, about the mindset and the end goal when it comes to retirement.
Read more and get additional financial resources here: https://wp.me/paeqsR-bU
What we discuss on this episode:
2:07 - When you build your financial plan, what’s the math problem?
3:38 - What will you do in retirement?
5:30 - Retirement is a big change.
7:59 - Have a mapped out plan about your time in retirement.
10:13 - Act as if you’re retired already.
13:28 - Are you prepared for what retirement is?
Where and how should you allocate? What’s typical among other affluent households when it comes to investing? We talk with a member of our team to help you understand our approach a little better.
Read more and get additional financial resources here: https://wp.me/paeqsR-bQ
What we discuss on this episode:
1:57 - What does it mean to “begin with the end in mind”?
5:05 - What is systematic risk?
8:35 - What is your capacity for risk?
10:30 - Where do you put your money?
13:15 - How does America invest?
14:56 - Most affluent households stayed the course in 2020.
17:59 - Should you use a target date fund?
Sometimes we assume the worst or make a guess so we don’t have to find out the truth when it comes to our finances. What guesses have you been making? On today’s podcast, we’ll talk about the common financial areas people tend to guess instead of prepare and how to plan for them.
Read more and get additional financial resources here: https://wp.me/paeqsR-bH
What we discuss on this episode:
0:57 - Are you guessing at your retirement plans?
1:33 - Why guess on monthly retirement income?
5:29 - Why ignore the major purchases or emergency fund?
9:05 - How do you predict inflation?
13:04 - How can you plan for rising healthcare costs?
With new social norms, Sean and his team have continued to adapt. What does it look like to meet with a financial advisor virtually? We'll take you through the process and what you can expect on today's show.
Read more and get additional planning resources here: https://wp.me/paeqsR-bB
What we discuss on this episode:
0:39 - What’s Sean’s least favorite time of year?
1:23 - How have virtual meetings opened up new opportunities?
3:14 - What has the practice done to ensure the experience is the same?
4:53 - What technology changes have been made?
7:06 - Retirement and planning concerns are still prevalent, even in a pandemic.
More than just simply filing your taxes by April 15 each year, what tax consequences do you need to keep in mind with your various investment accounts? On today’s episode of the Retirement Elevated podcast, Sean shares the pros and cons of different investment accounts.
Read more and get additional financial resources here: https://wp.me/paeqsR-bs
What we discuss on this episode:
1:00 - What are the favorite activities right now with Sean’s kids?
3:05 - Different accounts have different tax consequences.
6:27 - Should you take the employer match?
9:17 - What are taxable accounts?
10:21 - What about CDs?
11:19 - What do you need to know about tax and life insurance?
13:28 - Fun fact: How long ago did the iPhone first come out?
Is your financial plan aligned with your values? How do you create a values-based financial plan? We’ll explain on today’s episode.
Read more and get additional financial resources here: https://wp.me/paeqsR-bi
What we discuss on this show:
1:39 - What is a values-based retirement plan?
5:02 - Does your retirement plan align with your moral beliefs?
6:32 - What is your charitable giving plan?
7:47 - Do you want to work longer?
10:08 - How does education play a part in your retirement plan?
Do you know what your advisor should be helping you with? You don’t know what you don’t know…so we’ll talk today about what you should be discussing with your financial advisor.
Read more and get additional financial resources here: https://wp.me/paeqsR-bc
What we discuss on this show:
2:29 - Is your advisor doing this?
3:37 - Does your advisor include tax planning and strategy?
6:11 - Is your advisor evaluating fees in investments?
9:03 - Have you clarified the target and the goal?
10:26 - What is the difference with a customized plan?
Missing baseball season already? Get your fix as Sean talks about the similarities between baseball and financial planning.
Read more and get additional financial resources here: https://wp.me/paeqsR-aU
Check out the 'Life is a Ballgame' PDF: https://wp.me/aaeqsR-aV
What we discuss on this show:
1:46 - Shoring up retirement income strategy is like the middle innings in baseball.
4:01 - Planning for healthcare costs is an important strategy.
6:36 - Tax efficient strategies change over time.
1:46 - Shoring up retirement income strategy is like the middle innings in baseball.
4:01 - Planning for healthcare costs is an important strategy.
6:36 - Tax efficient strategies change over time.
As we near the end of the year, let’s talk about what has been happening and what it means for our financial plan. From the election to COVID to saving vs. spending, Sean reflects on what’s been going on in our country.
Read more and get additional financial resources here: https://wp.me/paeqsR-aT
What we discuss on this show:
1:02 - How is the market reacting to the election?
2:49 - What tax prep should you be doing now?
5:05 - COVID is spiking all over the country and world.
7:10 - What kind of spending might happen in the future?
9:01 - Should we be reinvesting our savings or holding onto it?
Is it time to retire? Should you pay off the house? How much do you need to have in the bank? Sean answers these three listener questions on today’s podcast.
Read more and get additional financial resources here: https://wp.me/paeqsR-aH
What we discuss on this show:
1:28 - Mailbag: As a small business owner, is now the time to retire early?
5:25 - Mailbag: Which should you pay off first, your home or your rental property?
8:40 - Mailbag: How much money is enough to have in the bank when about to retire?
Touchdown! We’re taking a short break from Sean’s love of baseball to talk football analogies and how it relates to retirement.
Read more and get additional financial resources here: https://wp.me/paeqsR-az
What we discuss on the show:
0:29 - Sean shares where his football loyalty lies.
1:35 - What is the financial red zone?
4:29 - Is the hurry up offense a good strategy?
6:10 - What’s the victory formation?
9:20 - Coaches can make a huge difference.
In continuation with our two-part series on how to survive a layoff or forced early retirement, we talk through five more steps on how to get through it. What options do you have moving forward?
Read more and get additional financial resources here: https://wp.me/paeqsR-at
Check out Part 1 of the Survival Guide: https://retirementelevatedpodcast.com/podcast/10-step-layoff-survival-guide-part-1/
What we discuss on this show:
0:18 - Sean shares how his kids have been doing lately.
1:38 - Let’s continue our 10 step layoff survival guide.
2:42 - Step 6: Learn about the health insurance options.
4:28 - Step 7: Get a new Social Security estimate.
5:52 - Step 8: Consider the lump-sum payment.
7:46 - Step 9: Determine whether or not you want to go back to work.
9:44 - Step 10: Seek a professional’s opinion.
What do you do if you get laid off? How can you turn a bad situation into an opportunity? We dive into what you need to do in the first of a two-part series.
Read more and get additional financial resources here: https://wp.me/paeqsR-ak
Download our survival guide PDF: https://wp.me/aaeqsR-al
What we discuss on this episode:
0:55 - Have you been laid off or are you on the cusp of retirement?
2:52 - Step 1: Keep calm and take it one step at a time.
4:25 - Step 2: Determine your expenses.
7:49 - Step 3: Create an inventory of resources.
10:02 - Step 4: Add in severance pay.
12:14 - Step 5: Understanding how unemployment benefits work.
What do tax rates have to do with your financial plan? How do you strategically think through your assets and your financial plan? Matt Zagula shares information from his book to use as a resource when considering what you can do now, ahead of an unknown future.
Read more and get additional financial resources here: https://wp.me/paeqsR-ab
On today's show:
0:29 - Introducing today’s guest author, Matt Zagula.
1:10 - What inspired the book, SMART Retirement?
2:39 - Why did a medical doctor write the book’s foreword?
4:22 - Where are our tax rates going and why?
6:38 - What is the process of planning?
7:23 - Are you going to an old way of thinking or adjust to how the world is changing?
8:41 - What are the two dates listed in the book?
11:46 - What kind of taxes do you need to consider for the future?
13:48 - What is fuzzy financial math you need to look out for?
17:50 - What is SMART?
Using baseball analogies, Sean Lee walks you through some of the most common retirement pitfalls and how you can avoid them as you round the bases of life.
Read more and get additional financial resources here: https://wp.me/paeqsR-9Z
On today's show:
1:12 – Retirement planning is more mental than dollars and cents
2:27 – Treating retirement like a destination rather than a new phase of your life
3:30 – Managing retirement changes as you age
5:23 – Retirement won’t solve all your problems
9:37 – Making assumptions about your monthly spending habits
11:29 – Being active can be just as important in retirement
14:36 – Are you still investing like you’re 25?
One of the most important parts of creating a financial plan involves working with the right financial advisor. How do you know you’re working with the right advisor for you? Join us as we lay out some of the criteria that needs to be high on your list.
Read more and get additional financial resources here: https://wp.me/paeqsR-9T
Today's show schedule:
0:45 - Are you looking for the advisor who is best?
3:39 - How do you find the right advisor?
4:45 - What phase of life are you in?
6:13 - What is important to you with an advisor?
8:03 - What kind of technology is available with your advisor?
0:45 - Are you looking for the advisor who is best?
3:39 - How do you find the right advisor?
4:45 - What phase of life are you in?
6:13 - What is important to you with an advisor?
8:03 - What kind of technology is available with your advisor?
What do baseball and financial planning have in common? In addition to Sean’s love for both, you may find that the mindset is often similar. On today’s show we get to talk with John Buck to hear how his experience as a player relates to financial planning.
Show Notes, Resources & Contact Info:
https://retirementelevatedpodcast.com/
Timestamps:
0:34 - John Buck joins the podcast today and shares about his time playing baseball.
6:06 - What is John up to now?
11:39 - What is your game plan or blueprint for success?
15:55 - Game prep for the next game before you get there.
18:29 - Adjustments sometimes have to be made.
20:20 - What is coming up?
22:14 - Your goal is to prepare for what is to come.
24:41 - Your decisions in the end can make the biggest difference.
26:29 - Why is your mental state key to winning?
35:22 - How is John helping the community?
On the show this week, Mike Sorrentino joins us to talk about the current status of the market, a second wave of coronavirus, and how it all might play together in the second half of the year.
Read more and get additional financial resources here: https://wp.me/paeqsR-9G
Today's show schedule:
1:28 - What’s going on with the state of the market?
2:32 - Why are the markets continuing to run while the economy is so bad?
4:21 - Could this recession be over before it even begins?
6:13 - What are the trends that support this theory?
8:30 - Last week experienced massive volatility and spikes in coronavirus cases, are we in for another correction?
During uncertain times, you may feel uncertain about your finances and the economy. Sean shares why he isn’t panicked right now to help you also feel more confident about the future.
Read more and get additional financial resources: https://wp.me/paeqsR-9v
Today's show schedule:
3:14 - This is not the same as 2008.
4:32 - What was the lead up in 2007 and 2020?
6:37 - How has the Fed reacted?
8:01 - Consumer spending has continued.
11:05 - Is this going to end up being more of the “great suppression”?
As we transition into the next phase in Utah, how is the Elevated Retirement Group shifting and responding? What should you expect in the office and what kind of safety precautions are taking place?
Read more and get additional financial resources here: https://wp.me/paeqsR-9q
Today's show schedule:
0:28 - What is happening at the office?
3:27 - Virtual meetings will continue.
4:17 - Masks will be worn in the office.
5:21 - Social distancing will be maintained.
6:02 - This may be inconvenient, but we want to do everything we can to keep safe.
The CARES Act was recently passed as a response to coronavirus. What kind of financial significance could it have on you and how might you be able to benefit from it? We run through the key provisions you need to know about.
Read more and get additional resources here: https://wp.me/paeqsR-9k
Today's show schedule:
0:45 - What’s the status of life and business for Sean?
1:40 - What has changed with RMDs?
3:43 - What are your options with 401(k) loans?
5:09 - Will anything change with Social Security?
6:43 - Will this pandemic put pressure on the Social Security trust funds?
7:29 - What are new coronavirus-related distribution exceptions?
8:58 - What opportunity can we find to strengthen out of this?
9:53 - What changes are there in regards to charitable distributions?
Coronavirus has caused the markets to correct. It’s also caused a lot of fear. What should you do? Let's talk about taking a proactive approach to your finances during this turbulent time.
Read more and get additional resources: https://wp.me/paeqsR-9a
Today's rundown:
0:46 - What kind of opportunity is there in the market?
2:55 - What fundamental issues do not change when it comes to planning?
4:29 - Have a stress-test done. Are you prepared?
7:03 - Take action!
8:28 - There’s volatility in the market, but also good buying opportunities.
We’ve all been impacted by the coronavirus in one way or another. How has Sean’s team responded and what can you do with your financial plan?
Read more and get additional resources here: https://wp.me/paeqsR-92
Today's rundown:
0:43 - What’s the latest in current events between coronavirus and an earthquake?
3:45 - What are the main worries people are experiencing now?
6:06 - This is an action-based correction. This is a great time to buy.
7:01 - What’s happened has happened, but think about being proactive now.
What kind of financial truths can you depend on? Where have you fallen for some of the fear or myths floating around in the financial world? With so much uncertainty in the market right now, let's discuss the truths you can build your plan on.
Read more and get additional resources: https://wp.me/paeqsR-8V
Today's rundown:
1:57 - Is the media our biggest enemy when it comes to finances?
6:32 - Emotions are rarely your friend when making financial decisions.
8:21 - The market will always move.
10:17 - Are you actually risk tolerant?
12:36 - There is no magic bullet for your financial plan.
Should you get caught up in the fear and uncertainty when it comes to the Coronavirus? What kind of impact could it have on you and your financial plan? Let’s discuss the biggest international story in early 2020.
Read more on the topic and get additional resources here: https://retirementelevatedpodcast.com/podcast/market-update-coronavirus-and-its-impact/
Today's show rundown:
0:48 - The biggest factor impacting the market right now is the coronavirus.
1:51 - The average flu kills thousands each year.
3:24 - Should you sell off your investments?
6:35 - A large percentage of products come from China and production has slowed.
7:12 - How does this impact your financial plan?
8:06 - What kind of perspective should you have regarding a market drop?
Keeping emotions separate from your financial decisions should be everyone’s goal but is it easier said than done? Let’s take a look at the most common forces driving those decisions and how it can impact your retirement plan.
Show notes and additional resources: https://retirementelevatedpodcast.com/podcast/are-you-an-emotional-investor/
Today's rundown:
1:16 – We’re talking emotions and decision-making on the podcast today.
1:39 – What kind of emotions typically drive financial decisions? Is fear and greed the main ones?
2:27 – We want to help you take a logical process to make decisions based on facts.
3:03 – Marc’s brother has been reacting a lot to the market movement recently. Is that something Sean has been seeing from clients as well?
6:20 – When the market drops, your dividends essentially are bargain shopping.
7:02 – Are there any times where it’s appropriate to factor in emotions?
No matter where you get your news, a few different storylines continue to dominate the headlines when it comes to finances in 2020. Let’s discuss three of the biggest topics of conversation this year and try to help you determine whether or not it matters for your retirement plan.
Show notes and additional resources: https://wp.me/paeqsR-8q
Today's rundown:
0:58 – Our main topic today is ‘Does it Matter?’
1:21 – 1st storyline: The 2020 presidential election. How much will this matter for investors?
3:56 – Historically, the market doesn’t have a significant reaction to the election. Are we in different times now?
6:05 – 2nd Storyline: The health insurance marketplace.
7:23 – What are the options for people that retire before the age of 65?
8:46 – 3rd Storyline: Social Security and the uncertainty.
12:12 – People often keep Social Security separate from their plan but it should all be a part of your retirement plan.
When was the last time you looked through your financial portfolio and got rid of the things you no longer need? As you move closer to retirement, your strategies will change and adjustments need to follow. So let’s look at four areas that you might considering trashing from your portfolio.
Show Notes and Additional Resources: https://retirementelevatedpodcast.com/podcast/taking-out-the-trash-from-your-portfolio/
Today's Rundown:
1:02 – What do we mean by taking out the trash?
1:23 – Debt is the first thing to get rid of.
3:03 – Reducing risk is a good idea as you approach retirement.
4:52 – ‘Lazy money’ – this money isn’t doing much for you so move it to a place that will
7:13 – Getting rid of someone that’s not working for you and looking out more for their own pocket.
Have you ever wondered why some advisors get paid in fees while others take commissions from your investments? Today we’ll explain the difference, what you should consider, and why your portfolio expenses are probably higher than you realize.
Show notes and additional resources: https://retirementelevatedpodcast.com/podcast/do-you-know-what-fees-and-commissions-youre-paying/
Today's rundown:
0:28 – So what are the differences between fees and commissions?
0:58 – There are two types of fees when working with a fiduciary.
2:20 – Outside of advisor fees, what are some of the other costs?
3:59 – Sean’s opinion on fees.
6:08 – A larger percentage of people than not are paying more in portfolio costs than they realize.
Americans will be getting the most significant retirement legislation in more than a decade after Congress passed the SECURE Act near the end of 2019. Let’s talk about the biggest changes you need to be aware of, how this can benefit you, and where there might be some concerns.
Show Notes and Additional Resources: https://retirementelevatedpodcast.com/podcast/what-you-need-to-know-about-the-secure-act/
Today's Rundown:
0:12 – Let’s start with what the SECURE Act is.
1:40 – Some big changes coming to the Required Minimum Distribution rules.
3:29 – The Stretch IRA changes could be seen as a negative.
6:38 – Is 2020 a lost year for RMDs?
8:39 – What affect does this legislation have on small businesses?
11:22 – There will be increased annuity options within retirement plans. Is that good or bad?
14:20 – Removal of age limitations on IRA contributions.
Maybe you are experiencing some more unfortunate situations lately when it comes to retirement. Is there a positive spin you can put on it?
Show Notes: https://retirementelevatedpodcast.com/podcast/finding-the-silver-linings-in-forced-retirement-situations/
Today's Rundown:
0:37 - You are being pushed into an early retirement.
1:34 - What to do with a severance package.
2:45 - A forced retirement may push you to find clarity.
3:24 - Sean shares a client example of someone who was able to map out an early retirement plan.
6:01 - What to do when you get the lump sum buyout instead of a pension plan.
7:32 - Two things to consider with a lump sum.
With all of the things in the financial world that you can’t control, why would you sabotage your own retirement by messing up the things you can control? Let’s discuss some ways that people sabotage their own financial health.
Show Notes: https://retirementelevatedpodcast.com/podcast/5-ways-we-sabotage-our-own-retirement/
Today's Rundown:
0:28 – We’re talking about sabotaging our own retirement today.
0:58 – The market continues to be very volatile in 2019.
1:58 – The first way we sabotage ourselves is getting to obsessed with the ups and downs of the market.
3:24 – Sometimes people have a plan but aren’t too confident in it if they are obsessing.
4:35 – Another way we self-sabotage is Social Security.
6:25 – The next way we sabotage is by pretending long-term care won’t affect us until much later in life.
8:40 – We can sabotage our retirement when we assume we’ll always like our job because we enjoy it now.
10:08 – One of our favorite parts of the job is developing a strategy that allows clients to retire a little earlier.
11:42 – The last way is by not identifying how we want to live in retirement so that we can figure out how to maintain our lifestyle.
How effective is a portfolio that isn’t working in conjunction with a plan? If you’re just looking at the numbers in your accounts but not considering how that’s complimenting the other pieces to your plan, it’s not much more than speculation. This week we discuss why having a collection of financial products isn’t the same as having a plan.
Show Notes: https://retirementelevatedpodcast.com/podcast/why-a-portfolio-is-not-a-plan/
Today's Rundown:
0:28 – Who is Sean pulling for in the World Series?
1:27 – What do we mean by ‘portfolio is not a plan’?
3:00 – You need a gameplan going into and having someone to help you with that is crucial.
4:46 – An advisor add significant value to a portfolio or a plan in three ways.
7:30 – What about some of the things that an advisor CAN’T do?
9:44 – When looking at planning, look at it from a holistic perspective.
The retirement planning process lasts many, many years but your final decade of work is the time where you need to hammer out all of the details and get everything in order. We’ve put together a checklist of items that need your full attention during that last years of working so that you can enjoy retirement to the fullest.
On this episode:
0:28 – What we’re talking about on the show.
1:18 – First, have a conversation about what’s most important to you in retirement.
2:47 – How it’s like baseball.
3:12 – Second, now you need to look at the numbers.
4:59 – Third, where are you getting the money from in retirement. Let’s estimate the income streams.
6:25 - This final decade of work is great time to strategize with your advisor since you’ll have a little time to build the plan.
8:29 - The next piece in this checklist is getting a handle on healthcare.
10:41 - Final thing, understand this is going to change over time and through retirement.
For show notes and additional resources, click here: https://retirementelevatedpodcast.com/podcast/why-the-final-de…ant-for-planning/
Think about the last time you took a flight? You got from point a to point b as you planned, but did you stop to think about what it took to get you there? That’s the same with financial planning and reaching our final retirement destination. There are many lessons we can take away from flying and we’ll share those on this episode.
Today's rundown:
0:22 – Baseball tryouts going on for Sean’s son.
2:04 – Talking today about what flying teaches about retirement. First, you have to have a flight plan.
4:49 – Turbulence affects everyone differently much like volatility.
8:03 – The market continues to bounce back no matter how many times it gets knocked.
9:18 – Pilots can’t do it all alone. They need help from air traffic control.
Get the full show notes and additional resources by visiting our website here: https://retirementelevatedpodcast.com/podcast/financial-lessons-we-can-learn-from-flying/
In the financial world, there are a lot of myths out there. Do you know what’s a myth (and what’s a bust) when it comes to these commonly held beliefs?
Today's show:
2:48 - Myth or bust: Shifting from stocks to bonds removes the volatility from your portfolio.
4:55 - Myth or bust: Once you’ve retired, life insurance is no longer necessary.
7:14 - Myth or bust: You’re going to need less income when you retire than you need when you’re working.
8:40 - Myth or bust: You’ll be in a lower tax bracket when you retire.
10:17 - Myth or bust: Financial planning is easy to do without a professional thanks to the technology available.
Get the full show notes and additional resources here: https://retirementelevatedpodcast.com/podcast/busting-the-biggest-financial-myths/
Picking the right financial advisor can be one of the most important decisions you make for your retirement, but many times we end up sticking with the wrong person. Many reasons cause can lead to this, but we often justify our decisions with a few common excuses. Let’s look at some of the common ones we hear from clients.
Check out the full show notes for this episode by clicking here. ----more----
Today's rundown:
1:18 – Introducing today’s topic
2:15 – Excuse 1: “My portfolio hasn’t been great but my advisor has become a close friend.”
4:02 – Excuse 2: “I don’t always understand everything in my portfolio but money isn’t really my thing.”
5:31 – Excuse 3: “We don’t get together often for reviews and my calls don’t get returned. I know they’re probably busy and they’ve been taking care of my parents for years so I know they have my best interests in mind.”
7:55 – Excuse 4: “They don’t specialize in retirement planning but I’ve been with them for so long so I’ll stick with them.”
Financial planning can take on many forms and your interests might not always be the sole priority. When you work with an advisor, there are steps that every plan needs to include and we’ll discuss those in this episode.
Check out the full show notes by clicking here.
Today's rundown:
1:46 – What happened to financial planning?
3:05 – Are expectations being set for you?
4:09 – Why pure planning is a more comprehensive and personal plan.
5:38 – Every financial plan should have five components.
6:05 – Too many advisors are skipping over the most important part of planning.
6:33 – We’re always trying to come up with the proper tax strategy.
7:26 – Healthcare as part of the plan.
8:25 – True planning is as simple as a one-page plan.
9:33 – What clients have been prioritizing in their financial plan.
Lighthouses are strong, beautiful, and protective towers, just like your financial plan should be. To weather the storms and avoid the potential financial obstacles, we’ll share how financial plans are similar to lighthouses, guiding you to safety.
Don't miss the show notes, which you can find here.
Today's rundown:
1:55 - Is there a financial lesson to learn from lighthouses?
2:59 - Your financial plan provides safety from obstacles and risk.
3:39 - Tax planning is one of your biggest obstacles to look out for.
6:05 - Envision a storm’s coming while on a boat and you can’t see where you’re going, but off in the distance you see a lighthouse, a beacon of safety.
8:11 - It’s not the ships (your tools) that get you to the right place, it’s the lighthouse (clearly defined financial plan).
For some people, the biggest problem with their financial planning isn’t that they make the wrong decisions but rather that they fail to make any decision at all. Other people, however, react instantly without giving it much though. Today we'll discuss a few areas that people usually hold people up in the financial decision-making process and then we'll give you ways to move forward.
To read more and to see the show notes, click here. ----more----
Here's what you can expect on this episode:
2:55 - WE ALL HAVE SO MANY DECISIONS TO MAKE
- How can too many decisions effect you negatively.
- Some best practices for slowing things down and managing the tasks ahead.
5:09 - CAN YOU RESEARCH SOMETHING TOO MUCH?
- The steps you should follow
- How to utilize your advisor for research effectively.
6:39 - GENERAL CONFUSION CAN HOLD YOU UP
- Take it slow, this doesn’t have to be a quick process.
- How can you take control of your time and solve the confusion?
8:13 - WHAT IF YOU DON'T LIKE TALKING ABOUT MONEY?
- Money is a taboo topic in a lot of cases.
- Your advisor can help you in this area beyond just facts and figures.
- Sean shares a client example of someone who asked what he looks for in a client to find out if they were a good fit.
11:17 - HOW TO DEAL WITH TRAUMATIC LIFE EVENTS
- Building a plan can help you deal with major life events.
- You an build in a six-month protection period with the right plan.
- What if you don't have a plan?
Maybe you’ve heard of it, but do you know how the SECURE Act could impact your retirement plans? Or what about the retirement options offered by your employer? Here are eight of the 29 provisions in the act to keep an eye on.
Full show notes: https://retirementelevatedpodcast.com/podcast/8-provisions-from-the-secure-act-of-2019/
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Thing's You'll Learn Along Today's Journey
1:27 SECURE Act * This stands for Securing Every Community Up for Retirement Enhancement Act. * This is the first major retirement legislation since 2006. There are 29 changes, but we will talk about eight of the bigger ones.
2:05 1 - Increase small employer access to retirement plans * 90% of businesses have 20 or less employees and thus the majority of employees in the US are employed by small businesses. * In the past you could use SEP IRAs, but the SECURE Act will create even more opportunities for employers to supply retirement benefits to employees.
3:24 2 - Increase annuity options inside retirement plans * Open market 401(k)s have not had annuity options as readily accessible in the past. This can be a good or bad change, depending on if the strategies are used properly.
4:11 3 - Increase RMD age * Sean shares a client example of someone wondering what to do when they reach the age of required minimum distributions. * The new rule would increase the RMD age from 70.5 to 72. This could open up a larger window of opportunity for people to create a solid financial plan and gives folks more avenues for various investment strategies.
5:55 4 - Removal of age limitation on IRA contributions * You have been able to contribute to a Roth IRA (as long as you were working) without any age restrictions. But this hasn’t been the case with traditional IRAs. Under the new rule, age restrictions would be lifted to more closely reflect the Roth rules.
6:31 5 - Tax credits for automatic enrollment * This will encourage employers to build automatic enrollment into their retirement plans. * Automatic enrollment will also offset some of the costs through the tax credit.
7:39 6 - Penalty-free distributions for the birth or adoption of a child * Under the Act, you could take out $5,000 from your retirement following the birth or adoption of a child. * This allows you to avoid the 10% penalty, but you still pay the taxes. * The distribution needs to happen within one year of the child being born or adopted.
8:40 7 - Lifetime income disclosure for defined contribution plans * A 401(k) plan is an example of a defined contribution plan. This rule would require employers to send a notice every year showing the expected growth of your money and your estimated monthly income in retirement.
9:31 8 - Removal of the stretch IRA provisions * The stretch IRA is one of the most widely used planning tools when it comes to transitioning assets to the next generation, so this could be a big deal. * This is viewed as a tax-generating provision, requiring most beneficiaries to distribute the account over a ten-year period.
Ask yourself, as an investor, what can you control? Starting with acknowledging what you can and cannot control will help you make better decisions and worry less when it comes to your investments.
Full show notes post: https://retirementelevatedpodcast.com/podcast/focus-on-what-you-can-control/
Thing's You'll Learn Along Today's Journey
3:50 What can we control as investors?
- The things you can control are how you act and how you plan. Use the plan to help keep you in check.
- You also control your timeline in terms of when you will pull your money out of your accounts.
6:37 What about risk?
- Sean shares with us some of the best ways to evaluate how much risk is appropriate for your situation
- How much risk will you take? That’s something you can decide for yourself.
- In order for plans to be successful, you have to commit to your goals.
8:31 Control your panic level
- Every investment might need adjustments, but you don’t want to jump around without a strategy. You need room to wiggle in your plan so that you can adapt and evolve.
- Look at the things you can control and alleviate the pressure on the things you cannot control. For instance, there’s a possibility that taxes can change in the future, but you can look forward and strategize.
Resources From Today's Podcast
Sign Up For A Class With Us
Check Out Our Media Center
Learn More About Sean
The View From The Pinnacle
Working with a financial advisor can bring incredible value to your portfolio. Looking at a recent Vanguard study, Sean talks us through what an advisor can do and how that helps you in the long run.
Check out the full show notes: https://wp.me/paeqsR-5n
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Thing's You'll Learn Along Today's Journey
2:05 The true value of an advisor
- Vanguard recently came out with a study about where and how an advisor should be adding value.
- You can’t consistently outperform the market, but the advisor brings intangibles.
- Advisors can bring up to a 3 percent value increase to a person’s portfolio according to this study.
3:52 How an advisor helps
- Serving as an investment coach, minimizing taxes, and building portfolios are all things an advisor does.
- True financial planning incorporates an income and investment strategy as well as a tax strategy.
- Life changes, but having a forward looking tax plan can make a huge difference.
5:27 The strategy
- Investments are the means to an end.
- Figure out what your math problem is and how you want to solve that math problem.
- Sean gives examples of funds that can be used inside a plan and tax strategies to consider.
Resources From Today's Podcast
Sign Up For A Class With Us
Check Out Our Media Center
Learn More About Sean
Your Guide:
Sean P. Lee - Contact
“Hey, watch this!” is probably not the last phrase you want to utter in life. Likewise, let’s consider these phrases you often hear in the financial world that you don’t want to be saying in case something goes wrong. Talking through the good and bad will help prepare your mindset and your money for retirement.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/famous-last-words-you-dont-want-to-say-about-retirement/
Some of retirement’s most important questions may seem simple. However, when you consider your options, these questions tend to get complicated. Join us as we unpack five seemingly simple questions about retirement.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/5-simple-retirement-questions/
We often get questions on what makes it safe to retire. Is it at a certain age or after you meet a particular dollar amount? To find out when to retire, you have to understand what “safe” means. Once you identify what it is you hope to achieve with your money, you may be closer than you think. Are you ready to retire?
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/when-is-it-safe-to-retire/
Everyone faces at least one of these financial pain points in life. While you can’t control everything, you can alleviate your fears by finding clarity through basic planning. Here’s how to tackle five of the main pain points you’re most likely to face.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/5-financial-pain-points/
In this episode, we’ll examine four hot financial topics and debate the merits of debt, mutual funds, and annuities. You’ll find that everyone has a slightly different opinion on what’s best, but the key is to make informed financial decisions on what is right for you.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/settle-the-debate-right-or-wrong/
Planning for retirement goes beyond your investments. Your advisor should be helping you navigate these crucial areas of your financial life.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/why-your-retirement-is-more-than-just-investments/
The do-it-yourself mentality is really popular these days. There's even a DIY network where you can learn how to take on DIY projects. Discover why a DIY retirement might not be ideal.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/episode-14-diy-retirement-planning/
We have more information at our fingertips than ever before. However, being an informed consumer isn't without its downsides. Sean explains.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/episode-13-the-upsides-and-downsides-of-being-an-informed-consumer/
We're all about financial education at Elevated Retirement Group. Discover how attending one of our classes could help you better prepare for retirement.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/episode-12-retirement-elevated-classes/
Financial advisors provide all sorts of services, and they have all sorts of designations and certifications. Find the right advisor for your needs.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/episode-11-what-should-your-advisor-be-doing/
While you might worry about the financial aspect of retirement planning, your mentality toward retirement is just as important. Sean explains.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/episode-10-finishing-strong/
The 60/40 rule suggests investors should put 60 percent of their portfolio in stocks and 40 percent in bonds. Sean weighs the merits of this rule of thumb.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/episode-9-60-40-portfolio/
Advising involves investing, but it's so much more than that. Sean and guest host Chris Cordova explain why real financial advising is problem-solving.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/episode-8-problem-solving/
Many people ask wrong financial questions. They get caught up in the minutia rather than focusing on the larger vision for their retirement. Sean explains.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/episode-7-wrong-financial-questions/
With the increasing popularity of the robo-advisor, you might question whether you need to work with a real advisor. We share seven reasons why you should.
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/episode-6-7-reasons-you-need-more-than-a-robo-advisor/
With so many different titles and acronyms out there, how do you know you're choosing the right advisor to handle your money? This week's episode will give you some invaluable insight into how to find the perfect advisor for you and for your specific situation, so you can feel confident that your retirement savings are in good hands.
What's more important: investing in items or experiences? Sean will talk about the importance of travel, experiences, and creating long-lasting memories that can lead to a truly fulfilling retirement.
RMDs are a critical part of every single person's retirement plan. The recent passage of The Family Savings Act Of 2018 is going to present people with unprecedented opportunities to save money in regards to their IRAs and RMDs. Sean breaks it all down on today's episode.
How you tap into your retirement accounts can really alter your retirement. We'll provide you with a few helpful examples and show you the positive impacts of utilizing creative tax strategies and the consequences of not properly planning.
Have you ever interviewed your financial advisor? You should. On this show we'll tackle the 10 important questions you should ask your current or future advisor, why they're such important questions, and what kinds of expectations you should have for the answers.