A/B Conversations: CFP® Your Way Out Of It: Recent Episodes
Benjamin Haas
A podcast where you get into the minds of a couple Certified Financial Planners™ on how we think about everyday financial planning questions and what should really matter most to you.
What can Warren Buffett teach us about estate planning? In this episode of A/B Conversations, Adam Werner and Ben Haas explore why estate planning is more than legal documents—it's about protecting your family, communicating your wishes, and creating a plan that evolves as your life changes. Learn how thoughtful planning today can help prevent confusion, conflict, and costly mistakes tomorrow.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
What can a baseball contract teach us about financial planning? In this episode of AB Conversations, Adam and Ben break down the famous Bobby Bonilla Day story to explore the time value of money, the power of compounding, and the trade-offs behind every financial decision. From retirement savings and Roth conversions to paying off debt and planning for the future, learn how today's choices can create dramatically different outcomes down the road.
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What happens when good financial planning requires uncomfortable conversations? In this episode of A/B Conversations, Adam Werner and Ben Haas discuss the challenges of navigating emotional investment decisions, retirement spending concerns, estate planning discussions, and family dynamics. Learn why honest conversations, thoughtful guidance, and long-term perspective are essential for making confident financial decisions.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Some of the most important financial planning conversations are also the most difficult. In this episode of A/B Conversations, Adam Werner and Ben Haas discuss why avoiding uncomfortable topics—such as retirement readiness, estate planning, family dynamics, and financial risks—can lead to costly consequences down the road. Learn how honest conversations, proactive planning, and addressing challenges head-on can help create a stronger financial future and greater peace of mind.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
In this episode of A/B Conversations, Adam and Ben tackle a massive, often emotional part of retirement planning: the family home. They discuss how the default assumption of "aging in place" can sometimes backfire if a spouse passes away, maintenance becomes a burden, or health challenges force a sudden move. The hosts explore the reality that downsizing isn't always the financial windfall people expect, the importance of communicating with adult children before assuming they want to inherit the house, and the potential tax traps that can arise when needing upfront cash to move into senior living. Ultimately, they emphasize the importance of "putting your own life vest on first"—making the housing choices that serve you best, and proactively planning your next move before a curveball forces your hand.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
In this episode, Ben and Adam discuss how life and finances can feel overwhelming as accounts, policies, passwords, and paperwork accumulate over time, often from job changes or intentional “safety net” complexity that eventually stops serving people. They describe how too many accounts create burdens around beneficiary designations, estate settlement, withdrawals, taxes, required minimum distributions, and major purchase decisions, and how complexity can shift work onto executors and beneficiaries because each institution requires its own claims process.
The hosts emphasize the value of coordination—having someone “playing point guard”—to help clients see everything, consolidate where appropriate, and follow through on implementation. They recommend proactively assessing and organizing finances before major transitions like illness, dementia, or death, using moving and unpacking as an analogy for making clear instructions and reducing stress for heirs and for personal peace of mind. Listen in as they break down how to declutter your financial life.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Most financial plans don’t fall apart because of bad advice. They fall apart because good advice never gets acted on. In this episode, Adam and Ben explore why even the most successful people struggle to follow through on financial decisions from time to time. From cash sitting on the sidelines to delayed Roth conversions, outdated estate plans, and missed opportunities, they unpack how inaction quietly becomes one of the biggest risks in a plan. They also talk about the real reasons behind procrastination; feeling overwhelmed, being fearful of outcomes, and the desire to avoid regret are just a few. Listen in as they share how thoughtful planning can help break the cycle of inaction.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Wouldn’t it be stressful to feel like you’re going to live longer than your plan was built for? In this episode, Adam and Ben explore longevity risk through a different lens. Not just the math of running out of money, but the mindset of spending, the uncertainty that comes with a 30+ year retirement, and the challenge of balancing security with actually enjoying life. They walk through how retirement really unfolds over time, why spending isn’t linear, and how thoughtful planning can create a dynamic portfolio withdrawal plan. From guardrails and income floors to the role of long-term care, this conversation is about building a plan that adapts as life changes. Because a good plan shouldn’t just help your money last. It should help you live.
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Second marriages are about new beginnings and a fresh start. They also bring financial complexity. In this episode, Adam and Ben talk through the estate planning dynamics facing blended families with adult children. How do you merge financial lives while honoring what each of you built separately? How do you protect your new spouse without unintentionally disinheriting your children? And how do you prevent conflict down the road? Listen in as they explore the conversations that need to happen, the estate planning structures that matter, and the small details that can have big consequences.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Have you ever been pitched an “alternative” investment opportunity that felt exclusive, different, or just a little too compelling to pass up? In our latest episode, Adam and Ben unpack the real planning dynamics behind private placements and illiquid investments. Why are we drawn to them? How do we convince ourselves it’s a good idea to invest even when something feels slightly off? And what separates legitimate alternative investing from fraud? Listen in as Adam and Ben share real-world examples, red flags to watch for, and who alternative investments may actually be appropriate for and who they’re not.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Some of the wealthiest people we meet don’t have portfolios that send them a monthly paycheck. Their wealth lives in businesses, real estate, farmland, or valuable art and collectibles. They don’t have a net worth problem, they have a liquidity problem. In retirement, the question becomes “How do I actually turn this into income?” In this episode, Adam and Ben unpack the planning challenges of illiquid wealth. When should you sell? How do you manage taxes? How do you turn a one-time liquidity event into a reliable income stream without losing your identity in the process?
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Most long-term financial outcomes aren’t determined by picking the right investments. They’re determined by how people behave under stress, uncertainty, and emotion. Listen in as Adam and Ben discuss the very human and common biases that, when left unchecked, can derail plans. They’ll share how they view their roles as planners how they try to help with stress, uncertainty and emotion.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Most people think estate planning is something you “finish.” In reality, it’s something you maintain as life, laws, assets, and relationships change. In this episode Adam and Ben reframe estate planning as a living, human document, not just a legal one. By the end, you’ll want to pull out your documents, look at the dates, look at the names and ask yourself: does this still match my life?
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
When we think about leaving a legacy, we should think about what that means holistically. Because a legacy is not just what we pass down financially, but what we model every day through generosity, values, and habits. In this episode, Adam and Ben share client stories and practical examples of how parents and grandparents can invite kids and grandkids into giving, from simple family traditions to more intentional tools, and why those moments often leave a bigger impact than dollars alone.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
As we head toward the end of the year, it’s the perfect time to take stock, not just of your portfolio, but of your tax opportunities too. Year-end planning is about being proactive because small moves now can lead to meaningful savings later. In this episode, Adam and Ben walk through four key areas where they help clients; reviewing tax-loss harvesting opportunities, assessing impacts of new tax legislation, strategic income planning for 2026, and Roth conversions. Listen in as they describe what happens behind the scenes and what role you can play in shaping their advice for you.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
In a world full of headlines designed to stir emotion and sell subscriptions, how do you separate fact from fear? In this episode, Adam and Ben unpack the rise of financial newsletters and media voices that profit from panic or try to capitalize on “big promises.” They’ll walk you through how to identify red flags, understand who’s behind these claims, and filter the noise by staying grounded, informed, and focused on what truly matters: your goals, your values, and your peace of mind.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
For many retirees, the home is their single biggest asset. But is it just a place to live, or could it also strengthen a retirement plan? In this episode, Adam and Ben explore the strategic ways to tap home equity, from delaying Social Security to protecting against market downturns, covering healthcare costs, and even managing taxes. If you’ve ever wondered whether “spending the house” makes sense in retirement, this conversation will help you see the options clearly and decide if home equity belongs in your plan.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Medicare Open Enrollment is more than a routine check-up. It’s your chance to make sure your coverage fits your life today. In this episode, Adam and Ben explore real-world scenarios - moving states, changing health, or even a financial windfall, and how they might shift your choice. Learn the rules, the trade-offs, and the strategies to keep your Medicare working for you.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Social Security election options can be confusing, and when to elect is one of the biggest retirement questions out there. The answer isn’t always what the math alone tells you. In our latest podcast, Adam and Ben unpack the numbers, psychology, and strategies behind this critical decision, so you can make the choice that best fits your health, work, and financial goals.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
In our experience, many people, even with millions of dollars saved, still don’t feel secure. Why is that? It often comes down to one simple but powerful truth: if you never define what “enough” looks like, no amount will ever feel like it's enough. Listen to Adam and Ben discuss how they help clients shift their focus from comparison, fear, and unclear goals that keeps even “wealthy” clients stuck in a scarcity mindset—to a place where “enough” wealth is defined by their own terms.
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Remember the hit game show “Who Wants to Be a Millionaire?”—in 1998, that prize was worth only ~$500k in today’s dollars and in the early 1900s, the phrase to “feel like a million bucks” would mean having over $7 million today. While more Americans than ever now hold millionaire status, the buying power of that milestone has shrunk dramatically thanks to inflation and rising costs for housing, healthcare, and retirement. Listen to Adam and Ben unpack why $1 million may no longer guarantee the lifestyle you think, how inflation and psychology shape our money goals, and how to figure out what’s truly “enough” for you.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Fear of failure, working hard, grinding it out – all can lead you to success. But at what cost? What comes after financial success? Podcast guest Matt Strunk shares his own experience and what he found out about himself once he stopped to think about what matters most to him. Listen as Ben and Matt discuss the importance of gaining awareness about what drives us, thinking about your own obituary, and then being more intentional with your time.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Here’s a hard fact to digest: You can average 6%-7% returns and still run out of money — because the order of those returns matters and because the timing of when you are withdrawing money matters. But smart planning can help you stay confident and in control, even in volatile markets. Listen in as Adam and Ben discuss cash, flexible withdrawal plans, three bucket theory, and tax aware planning.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Retirement isn’t a single event. It’s a long, evolving phase with multiple transitions. After the honeymoon ends but before the later-life simplicity sets in, there’s a “messy middle” - an emotionally complex, opportunity-rich period. Redefining goals and finding purpose may require doing some intentional planning again. Listen as Adam and Ben discuss how they help clients navigate this period of retirement with ideas, exercises, and open conversation.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
How much do you need to have stashed away to live a comfortable life? And how will you know it’s truly, enough? Listen in as Adam and Ben talk about how “enough” isn’t just a number on a spreadsheet or a Monte Carlo simulation output. Defining enough needs to include reflections on what matters most to you, what fulfills you, and what keeps you content. And it’s hard to get that output from a calculator!
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
As planners, we are tasked with answering big long-term questions like, “will I have enough money to live the life I want to live without running out?” But mapping out the future is impossible and there is no way to project how the world and our own lives will change, including what may or may not be important to us. Listen in as Adam and Ben talk about the themes of flexibility, choice, developing good habits and focusing on the purpose of money in our lives and not just goals.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Have you been pitched an annuity, or do you have one and wonder if it’s still the right fit for your financial plan? In this podcast, Adam and Ben introduce what annuities are, where they may and may NOT fit into one’s plan, and how important it is to understand the tradeoffs you’re making when buying this type of product. Listen in as they highlight their concerns around liquidity, taxes, and long-term contracts.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
What’s the point of having money if we are unhappy and unfulfilled? While earning money and saving is a necessary part of building wealth, there are times where the earning comes at a significant cost. Jobs can be stressful, cause anxiety, or take physical or emotional tolls on us. When you find yourself dreading work you might ask yourself, “Can I afford to leave or make a change?” What situations make a big change possible, or not possible? Listen in as Adam and Ben discuss both the financial and life considerations and how they try to help clients through these big questions.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Market volatility is always hard to go through. Expected or not, emotions run high, and the best thing we can do is stay in good communication with our clients. In this raw and (minimally prepared) podcast, listen in as Ben and Adam peel back the curtain a bit by sharing all the reasons why THEY hate volatility. You’ll learn a lot about what they focus on during times like these and how they approach client conversations.
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Business owners are usually a special combination of good planners and good executers. You have to be able to survive the rigors of business ownership! But what happens once you decide to sell your business and retire? It’s almost like surrendering control of your business AND your finances, and that can be really uncomfortable. What are the planning discussions that need to happen, and how do Adam and Ben address these different parts of the plan to help business owners confidently move into retirement? Listen in as they touch on multiple high-level discussions and what business owners could expect from them if they are ready to consider retirement.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
We’ve recently heard from clients that saving and having a “set it and forget it” investment strategy was the easy part of planning for retirement. As soon as they start to think about how they will turn savings into income, it starts to feel complicated. How will they pay themselves? From what account? What investments should be sold and by when? How do these decisions domino into taxes and healthcare/Medicare premiums? It can feel like one big 3D puzzle! Listen in as Adam and Ben discuss how they hope to uncomplicate the process for their clients.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Adam and Ben made five “bold” predictions on the future of the advising industry back in Episode 43. Four years later, it turns out those predictions were not so bold! Listen in as they reflect on what has changed and is continuing to change for the consumer, how the importance of CFP designation and behavioral finance continue to grow, the state of advisor commissions and the role of technology in client relationships. There’s a smattering of data and some discussion on industry trends, all wrapped up with a bit of bias for the client-first, fee-only advising relationship found at Haas Financial Group.
Sources
- https://www.financial-planning.com/list/finra-data-provides-wealth-management-snapshot
- https://www.cfp.net/news/2025/01/cfp-board-marks-milestone-year-topping-100k-certificants-and-boosting-consumer-trust-and-awareness
- https://www.finra.org/sites/default/files/2024-07/2024-Industry-Snapshot.pdf
- https://www.statista.com/outlook/fmo/wealth-management/digital-investment/robo-advisors/worldwide
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So you received a bump in pay at work, a promotion, or some lump sum bonus. Maybe now you’re asking, “How do I handle this newfound money/income?” Listen in as Adam and Ben discuss this situation as an opportunity to involve your financial planner! Whether you’re creating a plan for the first time or reviewing an old plan to confirm it, these discussions on allocating savings are often far more important than a conversation on “How’s the market doing?!” Included are some reflections on how we think and feel about money as well as some logistics on what higher income may mean for a financial plan.
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Being well-informed is a good thing. No one wants to make costly mistakes because they weren’t paying attention to important things or got bad intel along the way. But is it possible to have too much information? Listen to Adam and Ben discuss the fallacy of overreacting to the news media and headlines. Opinions and predictions aren’t important inputs into one’s financial plan. More often than not, we should just tune out the noise!
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We all know that New Year’s Resolutions often fail. But studies always show how important goal setting can be. How can we set big goals and focus on big things when life feels hard and there are so many other fires in our lives that need to be put out? Ben tapped Best Selling Author, Speaker, and Life Coach Katie McKenna on the shoulder to come share some tools and resources for how to adjust one’s mindset, build space and time for reflection, and be kinder to oneself as we kick start a new year.
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There’s a common question asked pre and post-election; “How will this affect investments?” It’s also that time of the year when we naturally reflect back on how the market’s performed this past year and what that may mean for next year. Put those two things together and “voila!” – you have a podcast! Tune in as Adam and Ben provide some historical context for post-election market movements and share some commentary for expectations going forward. Spoiler alert: investing for the long-term and staying diversified are highly recommended in this podcast.
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When it comes to something as important as financial advice, choosing who to hire (or retain) is a huge decision. As life evolves, our needs and viewpoints can change repeatedly, and there is no shortage of financial advisors and financial planners ready to throw their hat in the ring to have your business. So, how do you know if you found the right one for you? Listen in as Adam and Ben share their perspective on what they feel matters most in a client/planner relationship and what mistakes you should try to avoid when choosing who you’ll trust to partner with you.
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Old habits die hard. Did you sacrifice and save to get to retirement only to find you remain frugal, reluctant, or fearful to spend more freely in a new phase of life? Adam and Ben aren’t jedis and can’t wave their hand to simply make their clients believe that they can spend more in retirement. But they do share some tips and tricks around mental accounting and labeling of accounts to help their clients get over psychological hurdles. Listen in!
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Money is an emotionally charged topic and it can sometimes ruin relationships. Savers vs. spenders. Planners vs. non-planners. How can a couple keep the money side of their relationship healthy? It starts by simply building the space and time to talk about it! Whether your relationship is new or mature we encourage you to listen in as Adam and Ben discuss why it’s so important to communicate about family finance with each other, how to go about it, and what those conversations should focus on.
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Demand for senior living communities is growing due to an aging population, longer life expectancies, and increased awareness of the benefits of community living. But there are a lot of financial implications to making such a move. Whether “downsizing” “upgrading” or adding the benefits of having skilled care for potential needs later in life – retirement communities aren’t cheap. Listen in as Adam and Ben share different planning considerations for retirees who may be looking to make a move.
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We’re a very polarized nation right now so for many, the stakes of the upcoming election season feel super high. Do your politics impact your planning though? In this podcast Adam and Ben discuss to what degree the election results could impact financial planning topics like taxes and estate planning and how investment strategies may (or may not) change too. Listen in as they share their perspective and lean on some historical context to support their thoughts.
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In its simplest form, financial success stems from having adequate income to cover expenses. The trouble is that even if income exceeds expenses now, that doesn’t mean it’ll always be that way. Retirement, job change, health event, premature death - life often throws us curveballs, many of them emotionally and financially stressful. As planners, we can often see the writing on the wall because certain situations or financial decisions have a high probability of leading to financial ruin. Listen to Adam and Ben share experiences and highlight the importance of education and planning along life’s journey.
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While no one can know what the future brings, we know that certain things in life are inevitable like taxes and death. When a loved one passes and you’re in charge of settling the estate, the process and emotions can be overwhelming. Even the most organized and “simplest” of estates can feel cumbersome and complex. Listen in as Adam and Ben share stories and best practices to help you, the executor, prepare for your future role. Some education and proactive communication can go a long way to helping all parties.
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Most people build their wealth inside tax-deferred retirement accounts. Deferring taxes sounds great – but at a certain age, the IRS comes calling and you can’t defer paying income taxes any longer on those accounts! Listen as Adam and Ben discuss the required minimum distribution (RMD) rules, how they have recently changed, and what strategies you might proactively consider so your future tax bill feels more like an income tax trickle and less like an income tax bomb.
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Here we are in June 2024, and the market is at all-time highs yet again! For some, it begs the question “Is now still an OK time to invest new money?” Oddly enough, Ben and Adam addressed this very question back in June of 2021. With the benefit of hindsight and what was a very bad year for markets in 2022, they again weigh in. Will they answer the question differently this time around? Or hit repeat on podcast #36?! Listen in as they reflect on what’s happened over the last three years and how long-term investing and discipline still worked out.
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Sometimes when someone close to us passes away, we end up inheriting their retirement savings. “What’s an RMD? When do I need to take them? Over what period of time? Who is tracking that? You mean I have to pay income taxes?!” There are so many rules and nuances that can make the decision-making and management of this gift confusing and perhaps even frustrating at times. Listen in as Adam and Ben talk about the proactive and reactive ways to prepare for and eventually handle managing Inherited IRAs.
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Stepping into retirement comes with a host of challenges! Beyond all the financial STUFF that needs to be well-planned out, there’s the daunting task of figuring out how to spend your time, find purpose, engage others, and continue to challenge oneself. All that can be downright scary! Listen as Ben interviews author Patrice Jenkins on how her books and workshops help others gain the wisdom to get over retirement and on with living!
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Life ebbs and flows. If you look back on the last 10 or 20 years of your life, surely there were many events that had the potential to disrupt your financial life! When a curveball comes our way, we may need access to money and the question then becomes, where do I get it? Listen to Adam and Ben discuss the dos and don’ts of accessing certain types of accounts and taking certain kinds of loans.
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Our clients going through different phases of planning requiring different advisor focuses over time. There are times when we need to help “fix” problems and other times when we work behind the scenes to make sure the plan is intact while you’re feeling “fine.” There’s a third, less discussed phase though. Listen to Adam and Ben discuss the milestone “flourish” meeting – a special time when clients have the financial and emotional capacity to reimagine what’s possible after working hard to get to a place of contentment.
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While there’s no perfect way to go about investing, Adam and Ben believe that investing before going through a financial planning process is like firing before taking aim. Listen as they share insights on how the tenants of financial planning inform what investment choices make sense for each client. From cash flow, to taxes, to managing fears and managing expectations – they lay out why planning is a pre-requisite for investing in any new relationship.Tracking #T007110
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It’s far too often that investment and financial planning jargon get in the way of clearly articulating what someone’s investment plan looks like. And we aren’t talking about using terms like alpha or sharpe ratios either. Something as simple as saying “short-term bucket” and “long-term bucket” is still fairly met with “but what does that REALLY mean to me?!” Listen to Adam and Ben break down their Three Bucket Theory into a more tangible discussion, by highlighting how clients can view these buckets, not just in concept, but in practice, based on their own individual financial plan. They’ll even challenge you to share your own ideas for how you would retitle these buckets of savings, based on how you think and feel about money and its role in your life. Don’t miss this one!
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Aging is a part of life. While we enter this world under the care of parents, we often times need to return the loving favor by caring for them as they enter their twilight years. Needing care can have many financial repercussions for your parents, and for you. Listen to Ben and Adam dive into 5 important topics that need to be reviewed if you want to help your aging parents be efficient with their resources and protect the family’s assets as much as possible. From taxes to investments to gifting strategies to important documentation, they leave no stone left unturned in this important (and often emotional) topic.
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People work hard to save for retirement. Then they retire and – the balancing act begins. Do they value preserving assets throughout retirement? If so, they might hold fast to their saving habits and continue to be frugal. Others may value their freedom of time and want to enjoy experiences by spending, spending, spending! But what if someone values both? Listen to Ben and Adam share how they help their clients navigate the emotions around spending in retirement.
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A lot of financial planning clients require the services of a tax professional. Then there are others whose phase of life and financial situation don’t necessarily require that level of help. But what about those who might be somewhere in the middle? Tune in to hear 5 different personal and/or financial situations where Adam and Ben suggest their clients outsource tax prep services to a qualified professional.
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In this episode of AB Conversations, Ben and Adam delve into the financial planning concept of living off the income of savings and not cutting into the principle by comparing one’s savings to a "Golden Goose Laying Golden Eggs." They discuss scenarios where this concept applies, such as in retirement planning and when making major purchases or paying off debt, emphasizing the need to balance emotional decisions with rational financial choices. The hosts stress the importance of maintaining flexibility for long-term planning and offer strategies to consider when navigating various financial scenarios.
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📈 Navigating the financial landscape in 2024! 📉 Ben and Adam discuss the impact of market recovery and the common question that comes up in conversation at the beginning of a new year: "should I change my investment strategy?" Tune in for valuable financial planning perspectives and market insights.
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💡 In the latest episode of A/B Conversations, Ben and Adam discuss different types of relationships with financial planners. 🤝 Are you seeking advice or a collaborative partner in your financial journey? Tune in to explore the nuances and find what aligns with your needs!
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What happens when things go sideways in your financial journey? From market fluctuations, healthcare costs, and unexpected expenses, Ben and Adam talk about how we plan for worst-case scenarios. This allows clients to feel prepared no matter what life throws at them and they can continue living the life they want to live 📈💼🤔
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Planning for retirement? 🏖️🌴 Discover the power of 'likelihood of success' in mapping out your financial future. Learn from Benjamin Haas & Adam Werner as they share real-life scenarios and trade-offs in our latest podcast episode. 🗂️💡
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In the world of financial planning, it's not just about numbers; it's also about understanding emotions and priorities. Join the conversation with Benjamin Haas and Adam Werner as they reveal the detective work behind effective financial planning through what they call whiteboarding. Get ready to think differently about your finances! 🕵️♂️💰
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Ready to debunk the myth of completely avoiding taxes? Listen to our podcast as we explore the strategies, nuances, and misconceptions surrounding tax planning and if there's a silver bullet when it comes to paying taxes.
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Should I rent or buy my fun? As always, maybe! Ben and Adam discuss the ways we go through figuring out if it’s better to buy our fun, like a second property, a vacation home or a boat, or just rent it. A few factors to consider include upfront costs, ongoing expenses, carrying costs, taxes, and flexibility. If this is something you’re considering, tune in to see how these could impact your decision about buying your fun.
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A review of the first half of 2023: opportunities, risks, asset allocation, and highlights. Join Ben and Adam as they reflect on the market during the first six months of this year and give their perspective on the investment outlook for the remainder of 2023. Here are some topics they cover in this episode:
- The risk of a recession in Europe
- The Federal Reserve's strategy and response
- Asset allocation and rebalancing
- The importance of diversification
Tune in to gain valuable insight on the opportunities and risks for investors.
Resources:
https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html?redirect=/trading/interest-rates/countdown-to-fomc.html
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The Department of Education is calling this the “most ambitious and significant redesign of the federal student aid application in decades”
Major changes include:
- Parents or guardians with more than one child in college will not receive a break or discount on their Expected Family Contribution (EFC)
- Small business owners and family farms will no longer be able to exclude their business and farm assets from the FAFSA
Potential major changes include:
- The new Free Application for Federal Student Aid (FAFSA) formula for divorced parents says that the parent who has spent the most money on the child in the previous 12-month period will be completing the FAFSA.
- Changes in the federal aid formula will allow an additional 1.7 million students qualify for the maximum Pell Grant, which is the federal program for low- and middle-income students.
There are major positive changes for grandparent-owned 529 plans or other relative-owned 529s.
- Qualified distributions from a 529 plan that are owned by relatives will no longer be treated as income for the child’s portion of the Student Aid Index (SAI), formerly the Expected Family Contribution.
Tune into this podcast to listen to Ben and Adam discuss how these changes may impact your situation and where new planning opportunities should be explored.
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Source:
https://www.wealthmanagement.com/college-planning/fafsa-gets-overhaul
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
On our 100th episode, we discuss planning situations and strategies that go into preparing to live to age 100. Longevity is the biggest risk in retirement and it amplifies other risks such as cost of living, healthcare, inflation, and medical expenses. As the more time goes by, the more things are likely to change if your life. It's important to review your estate plan and financial plan on a regular basis because the earlier you can plan for longevity, the better. Tune in to hear tips for preparing for a long and financially healthy retirement!
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Source: https://www.ebri.org/docs/default-source/rcs/2023-rcs/2023-rcs-short-report.pdf
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Life is constantly changing and it's important to review your financial plan and make any necessary adjustments so your finances are aligned with your goals and wishes. It's also important to fill in any gaps before they become bigger items that are harder to address down the road. A few things to review include:
- Cash reserve
- Estate documents
- Beneficiary designations
- Investment allocation
Tune in to hear why it’s important to audit your financial plan.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Recently Carl Richards shared results from a study conducted by researchers at Harvard a few years ago. In the experiment they gave people two options:
- You could earn $50,000 a year, but everybody else in the world around you only earns $25,000.
- You could earn $100,000, but everybody else around you was earning $200,000.
In those two scenarios, everything is equal, except for what you make and earn compared to those around you. Option 2 is the obvious choice, right? You would want more money independent of what everyone else had. But the study found that more than half the people chose option one.
In this podcast, we talk about the dangers of benchmarking yourself against others. We provide tips for focusing on what you can control to avoid making potentially harmful decisions based on what you would think somebody else would want you to do.
Source: https://behaviorgap.com/is-mine-bigger-than-yours/?utm_source=email&utm_medium=email&utm_campaign=behavior-gap-weekly-letter
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
It's been almost 3 years since our last podcast episode on the 4% withdrawal rule: "Is The 4% Withdrawal Rule Dead?".
What is the 4% withdrawal rule? It's the general idea that when you get to retirement, whatever the pool of money is that you have, you can theoretically safely withdrawal 4% of that balance every year until you pass without running out of money. There are many variables that go into that such as inflation, how long you will live, how much income you will need in retirement, investment returns, and your own definition of success. We believe that it's important to engage in financial planning to help review trade offs and your specific situation.
To hear our updated thoughts on the 4% withdrawal rule and if it requires a major change in strategy, check out this podcast episode!
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Most people are familiar with trusts through conversations or experiences with their parents or friends. But just because the circumstances may have made sense for them to establish a trust, it doesn't mean that it is right for your situation today. In this podcast episode, we discuss what a trust is and what it does. We discuss circumstances where it may apply and where it may not. And, we also clarify what type of accounts you should put in a trust.
What is the purpose of a trust and how may it apply to you?
- If you want to maintain control or protect somebody else from this money. With a trust you can dictate a lot of the what-ifs in the future. Decisions are made while you're living, so you can list very specific instructions and restrict when people have access to money. You can also restrict what they use it for.
- In blended family situations, the trust may dictate which assets go into the trust.
- If you are concerned about privacy, a trust will keep assets from flowing through your Will and the probate process, which is public record.
- Ease of management. This may not be common today, but in the past revocable trusts were created so instead of updating beneficiaries on all accounts, you only needed to make one update to the trust document.
- In certain cases, depending on the intent, a trust may make sense for real estate assets.
Does a trust help with taxes?
- The estate exemption is $13 million for individuals or $26 million for a couple. (Increased Gift and Estate Tax Exemption Amounts For 2023)
- Many people are building their wealth through retirement accounts. If you put a retirement asset into a trust, you are changing ownership of it. Not to mention. money must be taken out of the retirement account, probably resulting in paying income taxes on it, to now put it into a trust or have it titled as trust assets just to avoid the estate taxation.
We are not estate planning attorneys, but when you're making big estate decisions like this, it's important to think about how they match up financially with your own life and your own needs. Try to find the efficiencies and teamwork with an estate attorney and financial planner.
If you want the nitty gritty on how we think and feel about trusts, check out Episode 21 on: "If's, And's, and But's - Probably Constitutes A Trust."
And if you still have questions about trusts and your specific situation, please reach out: https://www.haasfinancialgroup.com/
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Money is said to be one of the top causes of marital distress. We sometimes joke that meeting with your financial planner can often feel like a combination of math class and marriage counseling. A big part of advising is listening, understanding, and communicating. When couples don't agree, we try to help them focus on the points of agreement, which usually includes what matters most to both of them. Our goal is to influence the way they talk to their spouse about money through partnership and a shared vision. In this podcast, Adam and Ben talk through how we can be the middle man - so to speak - in this type of situation.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Our experiences in life will shape the way that we think and feel about money. It's statistically impossible to run into somebody who hasn't lost a loved one and hopefully that's not a really painful story to tell. That's one reason why we talk about the role of life insurance in planning so hopefully emotional travesties don't become a financial one.
In this podcast episode, we talk about the importance of life insurance and planning.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
At Haas Financial Group we love statistics! We often play a fun game where someone has a statistic and the other person has to guess what they think it is. Oftentimes the actual answer is wildly different than what we were thinking. That proves the point that conventional wisdom is often not in line with the statistic and it leaves us trying to figure out why there is a disconnect between what somebody should be doing and what they're actually doing.
In this podcast episode, we highlight some surprising facts in financial planning and investing. Will you go "huh" after listening?
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
In this podcast episode, we provide a checklist to help prepare for your final career year. This is partially a financial conversation, but what we've come to recognize is that during this time of change, many experience fears of getting it wrong, failure, and anticipating loneliness. There's a big psychological hurdle to approaching financial independence too. When we talk about preparing, it's really to help with those emotions and provide a sense of financial security.
If you are thinking this may be your last year of work, there are also financial considerations for your bridge years. What happens when your paycheck stops? Do you know what your monthly expenses are? Have you thought about a budget? Have you thought about healthcare?
We've walked many people through this process and if you're not really sure about the next steps to take with this checklist, then reach out to us!
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Nobody wants to relive the results of last year from a market perspective. But, we can use this historical context as a guide to shape our outlook for 2023. The odds of us having a positive year this year are in our favor, even though we are still facing many of the same issues.
Ben and Adam hope that giving some historical context will help investors understand what to expect from investments this year.
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JPMorgan Blog Post
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
The New Year naturally presents a time for people to hit the reset button and think about what matters most to them, especially through the lens of financial planning. When your values are clear to you, making decisions becomes easier.
We use your Statement of Financial Purpose as a powerful tool to help align what you're doing in your life from a financial perspective. We are big proponents of aligning your values, vision, and wealth. When we understand the context of what matters most to you, it helps us walk through the pros and cons of financial decisions in a different way that isn’t just about the numbers.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
We are quickly approaching the end of 2022. In case you missed some of our podcast episodes this year, Adam and Ben recap their favorites from the year. If you have some downtime during the holiday season, it may be the perfect time to take a listen!
(1:59) Episode # 63: How to plan when you don't have a well-defined goal.
https://www.haasfinancialgroup.com/podcast/ep-63-how-plan-when-you-dont-have-well-defined-goal
(4:08) Episode # 82: How would your life change if you won the lottery?
https://www.haasfinancialgroup.com/podcast/ep-82-how-would-your-life-change-if-you-won-lottery
(6:40) Episode # 69: Managing investments by myself. Should I or shouldn't I?
https://www.haasfinancialgroup.com/podcast/ep-69-managing-investments-myself-should-i-or-shouldnt-i
(9:33) Episode # 74: investment losses hurt. Avoid these 5 mistakes.
https://www.haasfinancialgroup.com/podcast/ep-74-investment-losses-hurt-avoid-these-5-mistakes
(11:45) Episode # 85: Emotions: The Silent financial planning killer.
https://www.haasfinancialgroup.com/podcast/ep-85-emotions-silent-financial-planning-killer
(15:48) Episode # 77: How to digest sensationalized financial media headlines.
https://www.haasfinancialgroup.com/podcast/ep-77-how-digest-sensationalized-financial-media-headlines
(18:00) Episode # 78: Shifting focus from control to influence when planning.
https://www.haasfinancialgroup.com/podcast/ep-78-shifting-focus-control-influence-when-planning
Honorable Mentions
(20:44) Episode # 72: Giving while living: helping family beyond just writing a check
https://www.haasfinancialgroup.com/podcast/ep-72-giving-while-living-helping-family-beyond-just-writing-check
(21:29) Episode # 73: Tips When Financially and Emotionally Sandwiched Between Supporting Kids and Parents
https://www.haasfinancialgroup.com/podcast/ep-73-tips-when-financially-and-emotionally-sandwiched-between-supporting-kids-and-parents
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
In this episode, we run through some financial housekeeping items to cross off before the end of the year.
- Retirement account deadlines - employer plans, IRA, Roth IRA contribution limits and timing
- Roth conversions - what it is and why you may want to consider it
- What are Flexible Spending Accounts and Health Savings Accounts
- What is tax loss harvesting and how does it work
- Education funding
- Holiday spending tips
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
Change can be hard, especially when transitioning into retirement and figuring out new routines in life. You may be surprised to realize it's hard to change your pre-retirement mindset of saving to a post-retirement mindset of drawing down your investments. Now your savings is finite. We can help you overcome the fears of: Did I save enough? How do I know when I'll run out of money? Where do I pull money from? Our goal is to help you balance that excitement of doing the things you want to do during the go-go years of your retirement by making a plan that tracks if your money and spending can last your lifetime. Check out this episode to find out how we guide people through this process.
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
How big of an impact do mid-term elections have on investment returns?
Historically mid-term election years have been poor performing investment years. The good news is that the year following a midterm election year, the S&P 500 has been higher every single time since 1950. Getting on the other side of elections should be good news for investment returns. The most important thing is staying the course. In times of doubt, review your financial plan to make sure it still fits.
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Sources:
https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/market-updates/bulletins/policy-and-politics-the-fiscal-and-midterm-election-outlook/
https://view.ceros.com/lpl/midyearoutlook2022/p/5
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Are we all doomed? It feels like almost everyone is struggling with emotional fatigue right now. When's the last time things felt normal? The negative headlines on safety, war, inflation, politics feel even worse when you're seeing your savings and investments go down and your expenses and spending increasing.
We recognize resiliency is not easy. We are here to review your retirement plan, review it often, and make changes when necessary through our financial planning process. In this podcast episode, we discuss the importance of staying on your financial path so investments don't affect your big picture plan.
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Saving for college is something that definitely matters to a lot of those that we work with (parents and grandparents) because continuing education is important, and because it’s not cheap! Student loan debt is all over the news. In the absence of saving, you’re stuck with loans. In this podcast episode, Ben is joined by our newest member of the Haas Financial Group team, Mike Hendrickson. They discuss the different ways you can think about saving for college, and perhaps more specifically, why the very popular 529 Plan may NOT be the right fit for you.
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Most people aren't comfortable talking to others about money. But, Social Security is a universal financial topic that most feel okay with discussing with others because we all get to make an election decision by age 62. More than 50% of people choose to take Social Security early because they need the income in retirement. But what if your decision on when to elect Social Security isn't apparent? What could sway you one way or another to elect or not?
The Social Security decision is truly situational and financial planning can help. In this podcast episode, we discuss how we would go about walking clients through the different scenarios and what factors to consider prior to making this irrevocable choice.
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If money wasn’t an obstacle, would you change anything about your life? Then the most important follow up question: WHY?
This podcast is not only for those living in the lottery world. If we truly believe that money is the tool that's going to help you live the life you want to live, then we need to think about what you value most. In our planning process we will ask questions to get you thinking about what you value. This may go outside your comfort zone, but our goal is to help you figure out how to align your money with your values, so you can live a fulfilled life.
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Haas Financial Group is inspired by Brendan’s passion around “the human side of advising”. Historically, the financial services industry was more focused on training around numbers, spreadsheets, and market commentary. Those things are 100% required and necessary but, there’s a whole other realm of the relationship that has to do with behavior, psychology, and communication.
In this episode, Ben sits down with Brendan to discuss practical tips and insights to apply behavioral finance into our financial planning practice. Brendan's mission is to provide the training that every advisor needs but never received in courses, designations, and certifications. He embarked on this quest to try and make the information more digestible and applicable for advisors to help accelerate their path to being able to develop these softer skills to their clients. He discusses the importance of asking better questions to form deeply personal relationships with our clients. By developing these skills, the financial planning conversation shifts to what our clients value; deconstructing their thoughts and feelings around money.
About Brendan Frazier:
Brendan Frazier is the Founder of Wired Planning, the Host of the Human Side of Money Podcast, and was named one of Investopedia’s Top 100 Financial Advisors. He helps financial advisors (including us!) around the world apply behavior, psychology, and communication principles to enhance client outcomes and forever change the trajectory of their business.
www.wiredplanning.com
*Brendan Frazier and Wired Planning are not affiliated with Great Valley Advisor Group and Haas Financial Group.
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Losing a spouse can be a very difficult and emotional time. There's so much to do and to work through emotionally, financially, and physically. In this episode, we help to decipher what needs to happen now, what can be done soon, and what financial things can be handled later. We provide a checklist of small steps to take to feel like you are making progress in this new chapter of your life, but also allowing time to figure out what you'd like to see happen in the future.
· Now: first two weeks
· Soon: 2-8 weeks
· Later: 3-6 months
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We're halfway through the year and it's time for us to share themes from those that focus on investments - LPL Financial, Blackrock, JP Morgan, Nuveen, etc. They don't agree on what the second half of the year looks like. There are common statements and themes, but a wide range of potential outcomes.
In this podcast episode we discuss the general themes and the outlook for the second half of the year.
Sources:
https://www.blackrock.com/corporate/literature/whitepaper/bii-2022-midyear-global-outlook.pdf
https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/insights/market-insights/MI_Mid-Year_Outlook_2022.pdf
http://view.ceros.com/lpl/midyearoutlook2022/p/1
https://documents.nuveen.com/documents/nuveen/default.aspx?uniqueid=c3c6dc28-aa70-4b3d-b33b-cfd99fa1e56e
We want to focus on what we believe financial planning is and that's helping point people in the right direction, making sure they understand the difference between things they can control and things that they can only influence. When you focus on controlling the things you can, your likelihood of success goes up significantly. It's when you drift into focusing on things you can't control or you choose to react to things you can't control, that's when self-sabotage gets in the way. In this podcast episode, we discuss the things you can control and the things you can influence even during these uncertain times.
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Navigating through all the news can be difficult especially when the media and articles are designed to elicit a response. Are you scared to open your statements knowing we're in a bear market? To see and feel your money shifting, and with the news telling you the market is going down, it's very natural and human to boil up with emotion and question if you need to do something different with your investments. We want to be the filter for our relationships and focus on the important information that may directly affect you. This is why we lead our conversations with asking important questions about what you value most in life, what you hope to avoid, how you best make decisions and how you feel motivated.
In this podcast, Ben and Adam discuss ways we can help to work through your emotions while the market is down. We explore why it's important to keep perspective and weather the storm. Our goal is to help keep you focused on the things you can control, filter out the noise from the things you can’t and then be a partner on your journey, helping keep you on the right path no matter how many twists and turns it may take. If you have questions on something you are seeing or reading, send it to us to review!
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Those that have accumulated wealth may want to limit their taxes and keep what they have, if not for themselves, but for their heirs. The stock and bond market has given us a lot of lemons to work with this year. If one of your goals is to limit your taxes over time, now may be the perfect time to do a Roth conversion with the market being down. Ben and Adam discuss Roth conversions and how or why they may fit into your long-term financial plan.
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The estate settlement process can be long and overwhelming for those going through it. But when you have a checklist prepared with the details and what to expect, you may find it a bit easier than you first thought. If you've been named as executor, there are things you can prepare for prior to the estate settling process. This will help to properly execute on the deceased wishes in a timely manner.
Listen to this podcast episode to feel confident with the process to properly settle an estate.
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Markets are volatile. Investment losses can hurt, but they're going to happen if you're investing.
In this podcast episode, we identify five common investor mistakes that set people back when they take short-term losses and compound the problem by feeling like they need to do something different. We feel that if you want long-term success, these are five things you should avoid doing, even when you get emotional:
- Stop saving and contributing to your investment accounts
- Selling when the market is down
- Chasing trends & returns when things are going well (fear of missing out)
- Paying too close attention - checking account balances daily
- Don’t invest money you may need in 12-18 months (3 bucket theory)
Source: https://am.jpmorgan.com/us/en/asset-management/adv/insights/market-insights/guide-to-the-markets/
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The sandwich generation is defined as people who are still working, most likely in their 30's or 40's, that are responsible for bringing up their own children while caring for aging parents both physically and financially. They are feeling caught between two potentially difficult situations, all while trying to focus on their own retirement as part of that process.
This podcast episode discusses the human side of what we do. There is not a spreadsheet or a financial planning program out there where you can plug these variables into the tool and it is going to tell you what to do in this situation. Everybody has their own personal outlook on how they want to approach these things and how do they want to prioritize them. It all comes down to tradeoffs, which is really what financial planning is. We want to help people think about what are the ways that they can say yes to their own needs and goals and not have to feel like it's making it impossible to say no to the people they care about and that you may feel like they rely on you.
Ben and Adam discuss how they would walk someone in the sandwich generation through prioritizing their goals and developing their own plan. We talk about what tradeoffs might occur for clients to effectively manage these competing interests.
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In this podcast episode, Adam and Ben talk about the different ways to give money to family beyond just writing a check. We discuss how our financial planning process helps determine if you can afford to gift now, the best way to go about it, and any tax laws that you should consider. If you wish to pass along your wealth to a loved one while living rather than leaving behind an inheritance or legacy, check out this episode!
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While there isn't a silver bullet that can shield all your money from taxes, this podcast episode focuses on proactive and reactive strategies to help defer taxes if you have excess income. We focus specifically on tax liability while exploring different investment vehicles to help you allocate your assets appropriately, depending on your financial goals. And, we discuss factors that may drive your taxable income higher.
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The key to any successful financial plan is making sure you use reasonable assumptions. An age gap between spouses can have an impact on irrevocable decisions such as: when to retire, the best time to elect Social Security, pension decisions, and estate planning - just to name a few! In this podcast episode, Adam and Ben discuss how an age disparity in couples can impact your financial life and why it's important to make conservative assumptions if you are in this situation.
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We are often asked the question "should I manage my own investments or is that something I should let a professional handle?" While there is no black and white answer, the first step is to decide whether or not you want to take on that responsibility. Next, develop a process to follow when making decisions around your investments. Your investment plan should be the guide to making these important decisions and help answer questions such as, "when is the right time to rebalance the portfolio? What should the process be when I need to withdraw money? "
In this podcast episode, Adam and Ben talk about the pros and cons of managing your own investments and the checklist you should have if you choose to take on the responsibility.
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This special podcast episode for A/B Conversations discusses the potential impact the Russian invasion of Ukraine may have on investments and financial planning. We're far from experts on the crisis and the outcome is still unknown at this point in time, but we do want to try to be experts on client communications and financial planning. We can draw some parallels by using historical data from prior wars and other conflicts to predict how the market will react. We look at investing through a long-term lens and we know the market is more forward looking than we tend to be as humans. Ben and Adam discuss historical trends and inputs that drive the market in short-term bursts.
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Have you ever thought about retiring at the same time as your spouse? Part of our job is figuring out if retiring at the same time is financially possible, but it’s also making sure that both partners are ready to commit to the next phase of life. There’s a lot of things to consider other than the financials. Are you emotionally and mentally ready to make that transition to retirement? And, often times couples have not even seriously discussed retirement timelines with eachother. Our goal is to ask questions so we may understand our clients' unique situations as we move through our retirement planning process. Listen to Ben and Adam discuss the variables and potential trade offs that go into making this huge decision together.
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In our financial planning process, we assess any products you may own, such as life insurance or annuities. Next, we provide education on the implications of being contracted to that product. Our goal is to review if there are better options available to you, ultimately to decide if you should be doing something different. If you are unable to move away from the product, we discuss ways in which it may fit into your financial plan to help align your financial life in a way that helps you reach your broader financial goals. Tune in to listen to Ben and Adam go through all the details of what to do with your old products!
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Whether you’re about to get married or you’re coming from previous relationship and entering a new one, there’s a lot of financial questions that ensue. Is it best to keep your financial lives separate, intertwined, or somewhere in the middle? There isn’t an easy answer and it depends on you feel, but there is some financial planning that should occur no matter what the result is! Take a listen to Adam and Ben giving a few ideas of what you should be considering when bringing two financial lives together.
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The stock market is off to a rocky start in 2022. How can we be opportunistic with a market that is flat or down? It's all about perspective! Listen to Ben and Adam talk about strategies for turning a down market into something positive for your portfolio in this podcast episode.
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In this podcast episode we explore the concept of the Final Financial Plan. The Final Financial Plan is essentially a roadmap for those that are left to help settle the estate, such as the executor or trustee. It lays out where any important information is and how to access financial accounts. This document serves as a guide for organizing any wishes that typically wouldn't be put in a will. It is not a legal document but really just adds instruction and clarity to the estate settlement process. Listen to Ben and Adam give all the details of what is included in a Final Financial Plan and why it is important for estate planning in this podcast episode.
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What if you can't come up with well-defined financial goals? In this podcast, we discuss ways to help get you on the right path without having a perfectly defined endpoint in mind at the beginning. In our planning process we focus on aligning your behaviors to the values that matter most to you.
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What’s the best way to go about saving money? The pecking order of savings, like many things in financial planning, is dependent on an individual's situation. During our financial planning process we will have to make certain assumptions, especially around taxes and compensation later in life, but we focus on doing the most efficient thing that we can, while still offering some flexibility. Diversification of savings for accessibility and taxes in the future is key. We have a process to go through this with you. Listen to us discuss our process for defining a pecking order of savings for someone in this podcast episode.
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You can weather the storms in the market when they happen by having all of your fundamentals in place. This includes “bucketing” your assets and staying the course in your financial plan and blocking out all the noise that occurs while investing.
Ben and Adam talk about different ways to feel confident with your investments by recapping 2021’s market environment and staying the course as we enter into 2022 not knowing what the market will do.
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We have a special guest, Stevyn Guinnip, on this episode of A/B Conversations!
Stevyn Guinnip, MSEd, CWC is the CEO and Wellthy Advisor at Grow Wellthy™. She is also the creator of the Wellth Academy™. She grew up a financial advisor's daughter & enjoyed 20 years as an exercise physiologist and certified wellness coach in the US & Australia. Now Stevyn has blended the world of finance & fitness, helping financial professionals and their clients earn back their health so they can retire ‘wellthy.’
Listen to Ben and Stevyn discuss how the health and wellness industry is closely tied to the finance industry and why health should become part of your retirement portfolio. You'll also have the opportunity to hear Stevyn's personal journey, as well as, gain insights on small things you can do now to improve your "healthspan" so you can fully enjoy retirement in the future.
Connecting with Stevyn:
LinkedIn: https://www.linkedin.com/in/stevyn-guinnip/
Website: https://growwellthy.com
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Recently, Edward Jones put out the 4 Pillars of Retirement study, which was comprised of health, purpose, family, and finance. In this podcast episode, Adam and Ben discuss the findings, some of which were surprising. Throughout the survey results it was abundantly clear that the first three pillars held more weight than the wealth or finance side of retirement. In fact, did you know that 96% of retirees said that health is more important than wealth in retirement?
Listen to us discuss the full results and how we believe the human side of finances plays an important role in financial planning and our process.
Full study here: https://www.edwardjones.com/sites/default/files/acquiadam/2021-06/Four-Pillars-US-Report-June-2021.pdf
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"One of the most heartening finding in this study is that the pandemic has led to a notable spark in generational generosity. One in three (34%) adult Americans, 85 million people loaned or gave money to a family member or friend who was impacted by the pandemic"
Source: https://www.edwardjones.com/sites/default/files/acquiadam/2021-01/Edward-Jones-4-Pillars-US-report.pdf
Have you ever gifted or loaned money to support a loved one? Are you considering gifting or loaning money to support a loved one? Listen to this podcast episode to understand different scenarios for doing so and the things you should be considering.
[1:38] Delineating between what is a loan and what is an outright gift
[2:43] Things to consider if it is a gift
[6:49] Being cognizant of if the gift is appropriate
[8:46] If it's a formal loan, there are some things to think about
[12:28] Why a loan makes sense
[16:07] Podcast recap
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No one likes to lose money, but once in a while it can actually be a good thing! If you own a non-retirement account or basically any investment outside of your retirement assets, you can deduct a loss on your tax return. There is a limit and some caveats in order to deduct your losses. To find out all that it entails, check out this podcast episode!
[1:33] What is tax loss harvesting and what type of accounts does it affect?
[3:36] Why is it important?
[5:36] When is a good time to review investments?
[6:32] How much can you deduct?
[10:22] Our role in the process.
[12:29] Proposed changes with the capital gains rate.
[13:47] Why it's good to claim losses.
[15:47] What is the wash sale rule?
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Have you been considering a big purchase but you’re concerned you can’t afford it since you’re retired? Is making a large purchase in retirement a smart idea? What is the most efficient way to buy a large purchase in retirement? We believe it comes down to two things: can you afford it and what is the most efficient way to go about it. Listen to this episode to hear the logistics of how we would use financial planning to answer those questions.
[2:50] Feedback on affordability of the decision
[7:06] Getting a loan vs. paying for the purchase outright
[10:53] Tax impacts if you chose to withdraw money from a retirement account
[14:45] If you have to liquidate some savings, what are you liquidating?
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Asset accumulators have a long runway until retirement. Starting the financial planning process early builds a solid financial foundation to ensure success in the future. Those starting out have competing goals, such as saving for retirement, buying a larger house for a growing family, paying down debt, or saving for their kids’ education. With all these financial aspirations, which one should be prioritized? That’s where financial planning comes in!
Listen to Ben and Adam talk about our subscription-based planning process, where we take the time to think about your resources, your goals, your values, your opportunities, and your threats and continue to evaluate and adapt as things change in your life.
[1:13] What is a DINK (dual income, no kids)? What is an OINK (one income, numerous kids)?
[4:17] This A/B Conversion is geared towards younger families
[6:18] Why OINKS need to be more conservative and build bigger buffers
[8:11] Taking advantage of employer provided benefits
[10:53] Being sensitive to cash flow
[11:26] Planning with competing goals
[13:26] Importance of insurance and estate planning
To learn more about our planning process for diligent savers with competing goals, check out our sample client profile by clicking the link below:
https://www.haasfinancialgroup.com/diligent-savers-competing-goals
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In this A/B Conversations episode, we discuss asset protection strategies. People want security in life by having safety nets in place when life happens and the unexpected occurs. Luckily, there are strategies to protect financial wealth! Our goal at HFG is to provide the education and plan for the what if’s that happen. Listen to find out more!
[3:16] What do we mean by protecting assets?
[4:02] Areas to focus on: Investments
[7:06] Areas to focus on: Insurance
[9:03] Areas to focus on: Taxes
[11:41] Areas to focus on: Estate Taxes
[14:24] Protection against litigation/identity theft
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Open enrollment comes once a year and is a great time for you to review your work benefits and update them to better fit your current financial life. Life changes. What you may have originally picked for your health benefits might not be the best fit anymore for you and your family. Making sure that your work benefits line up with all the other pieces of your financial life is important so it fits into the grand scheme of your financial plan. In this podcast episode, we give education around what you should focus on during open enrollment time.
[3:30] Be forward looking with any family or medical changes that may happen in the next year
[5:03] Health Savings Accounts, Flexible Spending Accounts
[7:04] Other insurances to consider
[10:39] Quick run down in disability
[13:56] Retirement savings, 401ks
[18:55] The roll that open enrollment plays in big picture planning
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In this podcast episode, we talk about what net worth is, what makes up net worth, and what it actually means. We also discuss why not all net worths are created equal, how net worth changes depending on your phase of life, and why liquidity is important. We want to help you grow your net worth to the point where it supports you for the rest of your life.
[1:52] What is net worth?
[5:47] Not all net worths are created equal
[8:42] Tracking your net worth depending on your phase of life
[12:18] Why liquidity is important
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In this podcast, we clarify our fees and how we get paid. We believe everyone should be paying for advice through a financial planning process. We explain our process, the two ways we can get paid for financial planning, and how we get compensated for providing investment advice by managing assets.
[3:02] Right now, we are fee-based
[4:19] The two ways we get paid
[5:04] Initial meeting & the proposal are free of charge
[6:52] Our quoted fee is the fee
[8:35] Subscription-based planning
[12:21] Getting paid through investment management
[15:28] Do I have to pay for trading?
[16:47] Acting as a fiduciary
[17:15] Are we compensated by some other party? No.
[19:56] Assets are custodianed through LPL Financial
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Most people that want to transfer the risk of long-term care, were people who experienced needing to care for their own aging parents. They don’t want to become a burden on their kids. For everyone else that hasn’t experienced the need for care, we hope this podcast helps sets the stage for what long-term care is, how we plan for it, and what your options are.
[2:13] Recognizing the things that could get in the way of a successful retirement
[3:15] What is long-term care?
[5:36] Does Medicare or traditional health insurance cover long-term care?
[7:50] How do we help people decide if long-term care is appropriate?
[8:42] Long-Term Care insurance
[11:11] Hybrid insurance policies
[13:21] If not insurance, then what?
[16:07] What about Medicaid?
[18:58] Consolidating insurance policies
[19:46] Ideas for funding insurance policies
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If you're wondering if you're on track with your retirement goals, or if you can retire when you want to, or you have enough saved - then this episode is for you! Retirement is a big decision. Listen to Ben and Adam talk about achieving confidence in your decision by going through our retirement planning process together.
[1:17] Common retirement questions
[3:08] Retirement variables
[4:10] Figuring out together if retirement is possible
[6:28] Our approach to making retirement assumptions
[10:21] Looking at variables that we can control
[11:16] Using projections to generate conversations
[13:14] What retirement variables are the biggest concerns for clients?
[16:10] Why the planning conversations are important to the decision process
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Many people consider investing in real estate to diversify their portfolio, but is real estate a good investment? There are many factors to consider. Listen to Ben and Adam discuss potential risks to investing in real estate and things to consider prior to buying a property.
[1:53] Our views on your primary residence as an investment
[4:07] Using real estate to make money
[7:12] Thinking about your liquidity needs
[9:33] Using real estate to diversify your investments?
[11:35] Historical facts on home appreciation
[14:30] Qualification process for a second property
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Wills, Power of Attorneys, and Healthcare Directives, Oh My! But honestly, what does all this mean? It’s critical to know what estate documents you should have, think about the best fit for who can execute on your wishes, and most importantly, why everyone should have a plan in place! In this podcast, Adam and Ben give an overview of what the estate documents are, ideas and tips for certain roles, and why it’s so important to have your estate documents current and in place.
[2:53] Role of the executor/executrix
[5:53] Power of Attorney
[7:40] Healthcare Power of Attorney & Living Will
[9:09] Importance of naming only one person to be executor/executrix
[10:03] What happens if I don't have estate documents in place?
[11:48] Cost of drafting estate documents
[13:56] Importance of letting someone know where documents reside
Want more on estate planning, check out our previous podcasts:
Estate Planning Ideas When Children Are Not The Heirs
Breaking The Ice Around Family Finances
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Interest rates are next to zero so does that change the old adage that cash is king? Is there a certain amount of cash someone should always have sitting in the bank? To find out the answers, check out this podcast!
[2:17] What does "is cash still king" mean?
[3:33] The role and amount needed for your cash reserve
[7:01] How would we define holding too much cash
[8:19] Our three bucket theory
[12:42] Role of cash to help with your short-term goals
Spoiler alert - cash is still king, just don't hold too much!
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What’s the hardest thing for adults to talk about? Family finances! Money is a tricky subject, but it’s really important to have those conversations on the front end. Avoidance can lead to trouble down the road. Ben and Adam discuss why it's crucial to start the conversation and tips for getting started together as a family.
[1:58] Getting the conversation started
[3:14] Why force yourself to discuss finances with family?
[5:46] Finding common ground
[8:43] Education for the next generation
[12:12] Approaching the conversation as we're all in this together
[13:16] The role Financial Planners can play in the conversation
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Job changes are emotional times, whether it was a voluntary or involuntary change. Change is not always comfortable, and it can also be scary. Then you throw in a bunch of confusing things around finances, and you may just feel overwhelmed and need some help filtering through those financial decisions. In this episode, Ben and Adam discuss potential impacts and financial choices that people should be considering as they transition through where they’re spending their work week.
In this episode:
- [1:47] Cash Reserve & Liquid Assets
- [6:28] Review Expenses
- [7:24] Filing for Unemployment, if necessary
- [8:02] Understanding your Severance
- [10:40] Health Insurance Options
- [12:47] Retirement Plan Options
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Where is the financial advising industry heading? In our latest episode, listen to Adam and Ben talk about what they see for the future of the industry and trends that they think will become more popular in the next 5-10 years. See if you agree!
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Have you ever thought of who you should leave your estate to? Estate planning can be daunting with children as heirs, but even more difficult for those with no children or a surviving spouse. Without a family to care for, you may feel that estate planning is not necessary. However, everyone needs an estate plan and you can still be very thoughtful with leaving your legacy. Listen to Adam and Ben discuss ideas for estate planning when there aren't obvious heirs to leave money to.
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The Roth IRA is a great retirement tool and should be something you're considering for your own situation regardless of your phase of life or financial profile. There are some rules to this type of investment and a lot of misconceptions too! Ben and Adam talk about the ins and outs of a Roth IRA and how it can help diversify your “investment buckets”.
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We are halfway through the year and thought this was a good opportunity to take a brief pause from all the financial planning conversations we've had and remember that investments are really important too. And for as much as we were so laser focused on everything that was happening in 2020 with investments, it's kind of felt like an uneventful year when it comes to investments thus far. But that doesn't mean there aren't things to talk about. Hence, this is our mid-year investment review.
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Retiring early sounds wonderful, but have you ever thought about how much healthcare would cost if you chose to say goodbye to work before age 65? People often forget that they need healthcare coverage to fill the gap until they become eligible for Medicare and it’s not cheap! Listen to Ben and Adam recall recent client conversations and discuss what to expect if you choose to retire early and need to find healthcare coverage on your own.
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The CFP®️ Board recently added another discipline for those CFP®️'s either looking to get the designation or to continue their education. This new discipline recognizes that traditional finance needs to be paired with behavioral finance. The point of behavioral finance is to recognize how people should act is different than how they actually act. This podcast addresses how we embrace that and help people through the emotional side of money and wealth to reach their financial goals.
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Inflation is a buzzword in the headlines recently and people are starting to get nervous about what they're hearing. In this podcast, we provide our thoughts on what's being discussed and how it does or does not play a role in your financial life.
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The stock market is hitting all-time highs with fair regularity so far this year. And typically, all-time highs beget more all-time highs. But the question we've been getting is, for those that are either in cash or starting out with investing, is now still an okay time to invest while things are at an all-time high or should I wait? This is a very fair question that we have a pretty confident answer to. Listen to our thoughts on investing during all-time highs in this podcast episode.
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This podcast targets a specific audience, business owners, with a specific question - why don't you have a financial planner yet? Ben has a big place in his heart for running a business and understands the hurdles and difficulties that can come with that. This podcast is not to point the finger and say, if you don't have one, shame on you. But more importantly, let's talk about the reasons why you probably don't (and that's okay). We're here to be an ongoing resource. Let's talk about what that means and how we can help .
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This week's A/B Conversations episode is with guest, Anthony Minetola, Branch Manager at BGA Insurance. Listen to Ben interview Anthony around the thing he knows best: Medicare. Together they explore key components to consider, elements that factor into your coverage options, when and how you can make changes, and other questions you may want to ask prior to making a decision.
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Do you ever feel like you're stuck? This could be due to preconceived notions or a hurdle that you don't feel you can overcome. Haas Financial Group is here to help! Sometimes the biggest struggle is just taking the first step. This podcast talks about common conflicts we see and how we can help you get "unstuck".
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It's difficult to set goals, especially if you're not sure what you're goals are or how to effectively articulate them to others. We believe it's important to understand your "WHY" or purpose by asking lots of questions and having meaningful conversations. In this podcast, we explore our process for building a framework by which can start defining and moving towards goals that align with your finances.
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Biden’s tax proposal has been getting a lot of attention through the media but one thing to remember is that it is only a proposal. It’s rare that any legislation gets passed without amendments or compromise. Ben and Adam share their thoughts on what is more likely of getting passed versus parts that most likely won’t make the final version in this podcast episode.
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A typical question Haas Financial Group gets is in regards to how we handle and view investments. While we believe they are important, we think they should be a part of financial planning to help reach someone’s goals and not be independent from that. Take a listen to Ben and Adam talk about the "why" behind our thought process with investment philosophies and see if this is something that resonates with you.
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When is the right time to hire a financial planner? Is it when things seem too much to handle on your own? Is it for freedom of time that you can gain by passing off those responsibilities to someone else? Check out our latest A/B Conversation to hear Ben and Adam’s thoughts.
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What does "financial independence" mean to you? Is it a level of wealth where you don't need to work? Is it reaching some desired future state? Is it peace of mind, when certain financial stressors are eliminated? Listen to Adam and Ben give their take.
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We thought it'd be a great podcast to just reflect a little bit one year later. What are the lessons that we either learned or as we focus on in this podcast, lessons we re-learned on the financial side. Listen as we discuss financial lessons to remember for the next time.
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The fear of missing out, FOMO, is something that concerns us. We see it a lot when it comes to investments. But people also bring this up in a different context too. Maybe they don't want to work anymore because they see some of their friends aren't working anymore. They feel like they're missing out on something. We want to make sure the decisions they're making or the feelings that they're having, are really good healthy ones, not only for themselves, but certainly for their financial future. Let's talk about it in this episode.
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Pension election is an irrevocable decision that has lasting effects, which may or may not be good in the long run. In this episode, we share some of the high level of conversations we've been having recently and things to keep in mind before making the big decision.
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Retirement is a process. Give yourself time to get used to the idea, both before AND after your retirement party. It's normal to feel a lost for a while, trying to find purpose again. You'll get it back as you start to work towards new goals and redefine what matters most to you. Having walked countless people through this process, we're more than qualified to provide financial guidance. Yet, being financially prepared and feeling financially secure about retirement is only part of the battle. Listen to Adam and Ben discuss how you can find your purpose and figure out what you will do all day.
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Many grandparents want to help fund college education for their grandchildren, particularly if they already have enough money to ensure a comfortable retirement income for themselves. But who should own the asset? How much should be saved? What coordination should occur with the parents? Take a listen!
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It’s not possible to GOOGLE personal financial advice. Simply put, you probably don’t know what you don’t know, and may not even know what questions to ask in order to diagnosis best next steps. Listen to Adam and Ben highlight additional reasons why self-diagnosing your financial life can lead to trouble.
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If today you had to give away everything you own (your car, your house, your jewelry, your family heirlooms, bank accounts, investments, life insurance, etc.) could you complete those transfers without any reservations whatsoever? Or are “ifs, ands, or buts” coming to mind? If so, you probably need a Trust. This podcast talks about examples of situations indicating that you should be talking to your CFP® professional and your attorney about creating a trust.
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So you have this annuity thing - what is it and how does it fit your financial plan moving forward? Listen to Adam and Ben compare annuities to a box of chocolates by sharing some insights on the things to know and questions to ask before making any decisions.
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Should credentials matter when seeking financial advice? We're pretty biased and would say "yes!" But aren't all advisors credentialed the same? Don't they do the same things, get compensated the same way? Actually, no. Listen to Ben and Adam talk about the difference between the butchers and the dietitians in this podcast.
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New year. New administration. Should you have the same old financial plan going forward? "Yup!" says Ben. Listen to Adam and Ben share perspective on how our feelings, anxieties and investment decisions need to be kept in check within our financial plans!
In case you missed Do Elections Matter To My Financial Plan - Take 1, check out our podcast from last year on this same topic:
https://www.buzzsprout.com/1304554/5148025-do-elections-matter-to-my-financial-plan.mp3?blob_id=20716654&download=true
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Was 2020 a rough year at work? Have you worked at the same job with the same company for 25+ years? Maybe you aren’t ready to retire, but the job is getting old. You’re physically and mentally ready to retire, but the uncertainty of the future holds you back from completely calling it quits. How do I know when I can retire? Listen to Adam and Ben talk about transitioning into retirement.
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In this episode, Adam and Ben talk about what to expect in the initial meeting with us. That first meeting is better understanding what do you value? What is your "Why"? What are you prioritizing? We're happy to be a second set of eyes. We know we do it differently than most people and that's by design.
Check out our blog on this topic here. We address the following common questions:
- What is the first step in the process?
- Why do people come to us?
- Do we handle just investments?
- The importance in finding out your "why"
- What do I need to bring to the first meeting?
- What is the goal of the first meeting?
- If we decide we’re a good fit in the first meeting, where do we go from there?
- What is our service model to support change? How do we get paid?
- What’s in it for you?
- How do you get started?
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In this episode, Ben is joined by Katie McKenna from Thrivos Consulting. Katie is a professional coach and bestselling author of How To Get Run Over By A Truck. 2020 may have kicked your butt and that's ok. As you turn the page to 2021, what do you aspire to? What do you want to change? How do you put a plan into action to get there? Who else should you involve? Listen to two GOAL-PLANNERS, Ben & Katie focus on YOU and next steps YOU can take to get to where you want to go.
Katie McKenna and Thrivos Consulting are not affiliated with LPL Financial and Haas Financial Group.
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If your considering your options on transferring wealth to the causes you care most about, listen to this episode on things to know or consider when doing meaningful gifting. Tracking # 1-05087080
Make your list, check it twice! We're all ready to turn the page to 2021, right? Not so fast! We've got a list of "Year End Financial Planning Considerations" for a timely checklist on what should be handled before 12/31/2020.
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In this episode, we discuss creative ways to charitably give. This includes gifts other than cash in order to avoid taxes.
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In this episode, we discuss considerations when electing Social Security. The decision will not be black and white and things could change.
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In this episode, we will discuss assisting in the financial responsibilities of parents or an aging loved one. We want to share our suggestions for someone who would be in the position of caring for a loved one's financial life.
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Welcome to A/B Conversations. A podcast where you get into the minds of a couple of Certified Financial Planners™ on how we think and feel about everyday financial planning questions. Our weekly podcast is committed to providing education on real life financial planning challenges and opportunities (and what should really matter most to you). We hope that you will join our A/B conversation on Spotify and YouTube and we’ll help you CFP® your way through complex financial goals in a really personable way.
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In this episode, we talk through the emotional and human nature of newfound wealth. We will discuss how financial planning can help you navigate through this difficult life transition and make sure that you are considering all factors in your decisions.
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In this episode, we discuss why it's important to prepare for the worst with the help of a financial planner.
- Have those uncomfortable conversations
- Conduct scenario planning with us to see how the end result may look
- Gain financial confidence knowing that you've made rational decisions now
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Watch the YouTube Video here:
https://youtu.be/peXEtN56ab0
In this episode we will explore three PA Dutch money myths and how financial planning tackles cultural tendencies to avoid unintended consequences of those financial behaviors.
- Myth #1: Investing - I don't want to take any risk. We will address with our 3 Bucket Theory.
- Myth #2: Cash is King. Inflation is a problem for longevity if you are too conservative.
- Myth #3: The "I Love You Will". Poses unintended consequences of not having a deeper plan.
This episode's topic on the 4% rule comes from a listener question! We will define the 4% withdrawal rule and give tips for developing a revenue stream and portfolio to support the 4% withdrawal rule in retirement. You may also want to check out our video: How Should I Be Invested? Our Three Bucket Theory" YouTube link: https://youtu.be/UvAoICSWDbI
In this episode, we will discuss the advisor options available to you depending on your expectation for level of engagement, financial planning approach, and your personal financial goals. Haas Financial Group strives to provide a proactive, personal relationship while delivering unbiased, holistic and fiduciary advice. If you're not sure if you have the right advisor, give us a call to schedule your free complimentary consultation!
Tracking # 1-05050637
Welcome to A/B Conversations: We Will Help You CFP® Your Way Out Of It, a podcast where you get into the minds of a couple Certified Financial Planners™ on how we think about everyday financial planning questions and what should really matter most to you. Over the last few months the world, our lives and in some cases what we value most, have changed. It's leaving us with more questions than answers. Each week, we'll discuss what's on our mind about the financial topics you care about most.
If you're thinking about paying off your mortgage, it's best to consider the domino effect your decision may have on other parts of your financial plan. In this episode, we discuss steps to take to determine if this is the right choice for you.
Things to consider:
- Why do you want to pay it off?
- Determine where the money is coming from.
- Review any tax implications of your decision.
- Think about the dominos of how your decision effects other parts of your plan.
- Engage your financial planner prior to making a final decision.
Tracking # 1-05045142
Welcome to A/B Conversations: We Will Help You CFP® Your Way Out Of It, a podcast where you get into the minds of a couple Certified Financial Planners™ on how we think about everyday financial planning questions and what should really matter most to you. Over the last few months the world, our lives and in some cases what we value most, have changed. It's leaving us with more questions than answers. Each week, we'll discuss what's on our mind about the financial topics you care about most.
Listen in on our conversation, focused on the impact that the election could have to your financial plan. This is not a political conversation. We will share historical facts, resources and tips to financially navigate through the election and beyond.
What you'll learn in today's episode:
- Historically, market prefers divided government, but not by much.
- Speeches do not equal policy. Time will tell on gets enacted.
- Politics is one of many variables that can move the markets up or down.
- "Stay diversified", regardless of your political hopes or affiliations.
- Fun Fact: Market has predicted the winner of the election in 20 of the last 23 presidential elections.
- If you're not sure if you are diversified, call Haas Financial Group (484)648-4040. We can help!
Welcome to A/B Conversations: We Will Help You CFP® Your Way Out Of It, a podcast where you get into the minds of a couple Certified Financial Planners™ on how we think about everyday financial planning questions and what should really matter most to you. Over the last few months the world, our lives and in some cases what we value most, have changed. It's leaving us with more questions than answers. Each week, we'll discuss what's on our mind about the financial topics you care about most.
In this opening episode, Adam and Ben talk about what they do as Financial Planners and break down how we can work for you and help you plan for your future financial goals. Listen in to learn about the fundamentals of the process and key life events that may trigger the need for financial planning help.
Tracking # 1-05042958
Welcome to A/B Conversations: We Will Help You CFP® Your Way Out Of It, a podcast where you get into the minds of a couple Certified Financial Planners™ on how we think about everyday financial planning questions and what should really matter most to you. Over the last few months the world, our lives and in some cases what we value most, have changed. It's leaving us with more questions than answers. Each week, we'll discuss what's on our mind about the financial topics you care about most.
In this episode, we share a few tips to take that first step with financial planning and why it's important to do so. If you are having trouble getting started due to over-complicating behavior, listening to too many headlines, or have trouble making investment choices, this podcast is for you!
Tracking # 1-05044173