Retire Texas Style!: Recent Episodes
Steve Hoyl
For over 30 years, Steve has worked tirelessly to craft personalized, high-quality financial services to a diverse group of clients at all income levels. As a lifelong resident of the Texas Panhandle, Steve has a unique insight into the passions, motivations and concerns of his client. It’s this connection with his community — alongside more than three decades of industry experience — that allows Steve to create retirement strategies that are as unique as his clients and the place they live.
On this conversation, Steve and Derrick discuss the complexities of retirement planning, emphasizing the importance of customized strategies tailored to individual needs. They address common misconceptions, the role of financial advisors, and the significance of having a comprehensive plan that considers both financial and emotional aspects of retirement. The discussion highlights the necessity of understanding risk management and the importance of ongoing communication between clients and advisors.
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On this conversation, Steve and Derrick discuss the critical aspects of retirement planning, focusing on the challenges posed by inflation, healthcare costs, and the importance of having a written plan. They emphasize the significance of understanding the sequence of returns and market protection strategies, as well as the various income sources retirees can rely on. The discussion highlights the need for proactive planning and regular reviews to ensure financial security in retirement.
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In this conversation, Steve and Derrick from the Hoyl Financial Group discuss the common fears surrounding retirement planning, particularly the anxiety of running out of money and the quest for a 'magic number' in savings. They emphasize the importance of focusing on income generation rather than just accumulating a certain amount of savings. The discussion also covers the evolving perception of annuities, the significance of guaranteed income, and the strategic use of Roth IRAs for tax planning. The hosts encourage listeners to evaluate their financial strategies and consider the implications of tax planning in their retirement journey.
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On this conversation, Steve and Derrick discuss the complexities of retirement planning, particularly in the context of divorce and widowhood. They emphasize the importance of proper financial planning to mitigate the impact of life changes on wealth and standard of living. The discussion also touches on the financial lessons learned from high-profile individuals like Shaquille O'Neal and the necessity of professional guidance for effective financial management. Additionally, they address the unique challenges faced by small business owners and the importance of having a solid exit strategy.
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In this conversation, financial professionals Steve and Derrick discuss the critical importance of financial planning for retirement. They emphasize the need for individuals to consult with financial advisors early in life to create a comprehensive plan that addresses not only retirement but also other financial goals. The discussion highlights the common fears and misconceptions surrounding retirement, the necessity of having a written plan, and the importance of stress testing financial portfolios. They also explore strategies for creating sustainable income in retirement and the psychological aspects of financial planning, ultimately encouraging listeners to take proactive steps towards a secure financial future.
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In this conversation, Steve and Derrick discusses the hidden fees associated with 401k plans and their significant impact on retirement savings. They emphasize the importance of taking control of personal finances, exploring alternatives to traditional 401k investments, and the role of annuities in providing guaranteed income. The discussion also covers the consequences of withdrawing from 401k accounts and the importance of partnering with financial professionals for effective retirement planning.
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In this conversation, Steve and Derrick discuss the intricacies of retirement planning, emphasizing the importance of personalized strategies, tax considerations, and the psychological aspects of retirement. They address common misconceptions about retirement income, the impact of economic uncertainty, and the need for a robust financial strategy to navigate potential market downturns. The discussion highlights the necessity of planning not just financially but also mentally for a fulfilling retirement experience.
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In this conversation, Steve and Derrick from the Hoyl Financial Group discuss the complexities of retirement planning, particularly focusing on Roth conversions, economic uncertainties, and the evolving landscape of retirement strategies. They emphasize the importance of working with knowledgeable advisors to navigate tax implications, investment strategies, and the emotional aspects of financial decision-making. The discussion highlights the need for a comprehensive and adaptable retirement plan that considers longer lifespans and rising costs.
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This conversation delves into the critical issues surrounding retirement planning, highlighting the significant education gap in financial literacy among Americans. The hosts discuss the importance of annuities as a viable option for retirement income, addressing common misconceptions and emphasizing the need for strategic planning, especially in light of potential changes to Social Security. They stress the importance of personalized financial strategies to ensure a secure retirement.
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In this conversation, Derrick from The Hoyl Financial Group discuss the evolution of retirement planning, particularly in light of the 4% rule and the changing landscape of investment strategies. They emphasize the importance of diversification, the role of annuities, and the need for personalized financial planning. The discussion also covers how to navigate market volatility, the significance of understanding investment fees, and strategies for maximizing tax refunds to enhance retirement savings.
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This conversation delves into the complexities of retirement planning, emphasizing the emotional aspects of financial decisions, the impact of national debt on personal finances, and the importance of strategic savings and tax planning. Steve highlights common challenges faced by individuals approaching retirement and offer insights into effective financial management and planning.
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In this conversation, Steve and Derek from the Hoyl Financial Group discuss the critical aspects of retirement planning, including the impact of market corrections, tax implications, and the importance of having a comprehensive financial plan. They emphasize the need for proactive planning to ensure financial security in retirement, addressing common fears such as running out of money and the psychological aspects of managing finances. The discussion also highlights various income strategies, including the use of annuities, to create a reliable income stream during retirement.
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This conversation between Steve & Derrick delves into the complexities of retirement planning, emphasizing the importance of personalized strategies tailored to individual financial situations. The hosts discuss the varying success rates of retirement plans, the impact of economic factors like inflation and market volatility, and the future of social security. They also explore the role of annuities in retirement income and the necessity of diversifying income sources to ensure financial stability in retirement.
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In this conversation, Steve and Derek discuss the importance of proactive retirement planning amidst economic uncertainties. They emphasize the need for a solid financial plan, understanding market risks, and the significance of tax strategies and annuities in securing a stable retirement income. The discussion highlights the necessity of being informed and prepared for potential economic downturns, including the possibility of a recession, and encourages listeners to take control of their financial futures.
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This conversation focuses on the importance of spending wisely in retirement, overcoming the fear of financial insecurity, and understanding personal retirement goals. Steve and Derrick emphasize the role of annuities in providing a stable income stream and the need for comprehensive planning to ensure a comfortable retirement. They also highlight the supportive approach of the Hoyl Financial Group in helping clients navigate their financial futures.
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This conversation discusses the importance of retirement planning, focusing on annuities, social security, and tax strategies. They emphasize the lessons learned from historical figures like Babe Ruth regarding guaranteed income and the need for proactive financial planning to secure a stable retirement income. The discussion also highlights the risks associated with social security and the importance of understanding tax implications for inheritance and retirement income.
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This conversation delves into the essential milestones and strategies for effective retirement planning. The hosts discuss key ages for retirement benefits, the importance of understanding social security options, and the necessity of having a proactive financial plan. They emphasize the significance of tailoring retirement strategies to individual needs and the impact of inflation and taxes on retirement savings. The discussion also highlights the role of annuities in providing financial security during retirement.
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In this conversation, Steve and Derrick discuss the significant impact of divorce on retirement planning, particularly for individuals over 65. They emphasize the need for comprehensive financial planning, especially for those who are widowed or considering divorce. The discussion also highlights the importance of having a solid income strategy for retirement, drawing lessons from the financial journey of Shaquille O'Neal. The conversation concludes with a focus on creating sustainable income sources to ensure financial security in retirement.
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In this conversation, Steve and Derrick discuss the intricacies of retirement planning in the current economic climate, emphasizing the importance of guaranteed income and debunking common myths surrounding annuities. They highlight the need for a well-structured financial plan that accounts for market volatility and inflation, and they stress the significance of proactive planning to ensure a secure retirement.
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In this conversation, Steve and Derrick discuss the intricacies of retirement planning, focusing on tax efficiency, required minimum distributions (RMDs), and legacy planning. They emphasize the importance of understanding tax strategies to maximize retirement savings and minimize tax burdens, particularly in light of RMDs. The discussion also highlights the significance of building strong client relationships and the need for personalized financial planning to ensure a secure financial future.
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In this conversation, Steve and Derrick discuss the critical aspects of retirement planning, emphasizing the importance of having a solid plan in place, understanding tax strategies, and preparing for the future of Social Security. They highlight the emotional side of retirement planning and the necessity of communication between spouses regarding financial matters. The discussion also touches on the current economic climate and how it affects retirement strategies, urging listeners to take proactive steps in their financial planning.
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In this episode, Jessica, Derek, and Steve discuss essential aspects of retirement planning, emphasizing the importance of year-round tax planning, understanding retirement returns, and the role of financial advisors. They delve into the complexities of annuities, their benefits and drawbacks, and the critical need for long-term care planning as healthcare costs continue to rise. The conversation highlights the necessity of proactive financial strategies to ensure a secure retirement.
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Steve and Derrick discuss the importance of proactive retirement planning as we enter 2025. They emphasize the need for individuals to take control of their financial futures, especially in light of inflation and healthcare costs. The conversation covers the significance of custom financial strategies, the psychology behind retirement decisions, and the critical nature of understanding the sequence of returns in investment planning.
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Steve and Derrick discuss the complexities of retirement planning, emphasizing the importance of financial literacy, understanding risks, and finding a balance in financial strategies. They share personal anecdotes and insights from their extensive experience in the field, highlighting the evolving landscape of retirement planning and the necessity for individuals to be proactive in their financial education and decision-making.
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In this conversation, Steve and Derrick from discuss the importance of creating a personal pension for retirement, especially in the absence of traditional pensions. They emphasize the need for proactive financial planning, including tax strategies and addressing common fears about retirement. The conversation also touches on the future of Social Security and the necessity of having a solid plan in place to ensure financial security in retirement.
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In this conversation, Steve and Derrick discuss the pressing issues surrounding national debt, tax strategies for retirement, and the importance of personal finance management. They emphasize the need for effective retirement planning and the services they offer to help individuals navigate their financial futures. The discussion highlights the emotional aspects of financial decisions and the necessity of understanding one's spending habits to ensure a secure retirement.
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Steve and Derrick discuss the importance of having a solid retirement plan amidst economic uncertainties. They emphasize the need for individuals to focus on their personal financial situations rather than external economic predictions. The discussion covers risk management, the significance of sustainable income, tax strategies, and the emotional aspects of retirement planning.
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This conversation delves into the complexities of retirement planning, focusing on withdrawal strategies, the impact of inflation, and the importance of having a comprehensive financial plan. Steve and Derrick emphasize the need for diversification in assets and the significance of understanding market conditions when planning for retirement. They also discuss the rising costs associated with the American dream and the necessity of optimizing Social Security benefits. Ultimately, the conversation highlights the importance of having a tailored retirement plan to ensure a high probability of success.
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takeaways
- 73% of people report anxiety due to the election.
- Proactive financial planning is crucial in uncertain times.
- Investment strategies should account for market volatility.
- Inflation significantly impacts retirement savings.
- Couples often have differing financial perspectives.
- Staying informed about IRA and 401k changes is essential.
- Diversification is key to a stable retirement portfolio.
- The psychological aspect of money management is important.
- It's vital to create a retirement income strategy early.
- Taking action now can prevent future financial stress.
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In this conversation, Steve and Derrick discuss the critical aspects of retirement planning, focusing on the implications of potential tax changes, the importance of having a detailed retirement plan, and common misconceptions that individuals have about retirement income. They emphasize the need for proactive management of retirement funds, particularly 401(k)s, and the necessity of understanding one's financial situation to avoid pitfalls in retirement planning.
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The conversation focuses on the importance of comprehensive retirement planning, emphasizing the role of 401(k)s, income strategies, emotional aspects of retirement, and the need for effective tax strategies. Steve and Derrick discuss common mistakes individuals make regarding retirement, including the handling of Required Minimum Distributions (RMDs) and the significance of having a well-structured financial plan to navigate market volatility and economic uncertainties.
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Steve and Derrick discuss the implications of falling interest rates on retirement planning, the importance of refinancing retirement, and the fears surrounding income security in retirement. They emphasize the need for long-term care planning and estate planning to secure one's legacy. The discussion highlights the interconnectedness of financial planning, tax strategies, and estate planning, urging listeners to take proactive steps in managing their financial future.
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Steve and Derrick emphasize the importance of creating income strategies that can withstand economic fluctuations, particularly in light of political uncertainties. The discussion also covers the significance of proactive financial planning, legacy considerations, and the need for comprehensive financial reviews to ensure clients are well-prepared for retirement.
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Today's conversation revolves around the rising costs of groceries, gas, and everyday expenses, and the need for a solid income strategy in retirement. The hosts discuss the importance of evaluating and adjusting income plans to keep up with inflation. They also explore the outdated 4% rule for retirement withdrawals and advocate for utilizing fixed index annuities to generate higher income. The conversation emphasizes the need for professional guidance in retirement planning and the risks of relying solely on DIY approaches.
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Steve and Derrick discuss the importance of tuning out the noise and focusing on what you can control when it comes to financial planning. They emphasize the need to have a plan in place and not let fear and uncertainty drive your decisions. They also discuss the impact of the upcoming election on finances and advise against making drastic changes based on political outcomes. Lastly, they discuss the potential interest rate cuts by the Fed and the implications for fixed income investments.
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The importance of diversification, the impact of market volatility, the benefits of annuities, understanding Social Security, and strategies for maximizing retirement income. Steve and Derrick emphasize the need for a holistic approach to retirement planning and highlight the expertise of the Hoyl Financial Group in providing personalized strategies for clients.
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Episode Takeaways:
- Market volatility is inevitable and will occur multiple times during retirement, so it's important to have a proper retirement strategy and diversification.
- Being proactive in retirement planning is crucial, and waiting for things to happen and then reacting is not a good strategy.
- Having a customized portfolio that matches an individual's risk tolerance and income needs is essential.
- In-service rollovers for 401(k) plans can provide more control and flexibility in retirement planning.
- Regardless of the election outcome, having a plan in place and working with a trusted advisor is key to navigating potential changes and uncertainties.
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Many Americans plan to retire in their early 60s, but this may not be a wise decision due to financial considerations. Leaving work at 62 means having to pay for medical bills until Medicare kicks in at 65, and even then, Medicare doesn't cover everything. Retirees often overlook the Medicare gap, which can cost around $2,000 per month per person. This can put a significant strain on their portfolios. Planning for healthcare coverage and having the necessary assets to support it is crucial. Annuities can be a solution for funding healthcare coverage and providing guaranteed income in retirement.
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- Consider doing a Roth conversion before the expiration of the Trump tax cuts to take advantage of lower tax rates now.
- Plan for tax-free income in retirement by strategically converting a portion of your retirement nest egg to a Roth IRA.
- Be proactive in preparing for potential changes to Social Security by creating a retirement plan that takes into account the possible reduction in benefits.
- Diversify and protect your investment portfolio to mitigate the impact of market bubbles and potential market downturns.
- Factor in location, cost of living, and healthcare costs when planning for retirement to ensure your savings last throughout your retirement years.
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Planning for retirement and taking control of your financial future is crucial, especially during uncertain times like an election season. It's important to have a proactive approach and not let external factors dictate your financial decisions. Market crashes and downturns are inevitable, so it's important to have a market downturn protection plan and proper allocation diversification.
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The conversation discusses various topics related to retirement planning, including the impact of the Dow Jones surpassing 40,000 on 401k investments, the importance of understanding fees and fund selection in 401ks, the potential for interest rate hikes and their effects on the economy, the challenges of high interest rates and inflation on retirees, the need for debt management and emergency funds, the importance of diversification and avoiding excessive risk aversion, the considerations of claiming Social Security benefits and long-term care planning, and the significance of estate planning in retirement.
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Planning for retirement is essential for financial success and peace of mind. Many people in their 50s feel they will never be able to retire because they haven't consulted with financial professionals. Having a financial plan and working with a professional can provide a path to financial success. Procrastination and fear of the unknown often prevent people from taking action. DIY retirement planning is not recommended, as it can lead to gaps and mistakes. It is important to have a written plan, be proactive, and be realistic about savings and expenses.
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In this episode Steve and Derrick delve into the challenges of do-it-yourself (DIY) approaches to retirement planning. Inspired by their own DIY home repair stories, they draw parallels to the complexities and potential pitfalls of managing your own retirement.
Discover why relying solely on Google for your retirement strategy can lead to costly mistakes, and how professional guidance can fill critical gaps in your financial plan.
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Steve and Derrick tackle the old Wall Street adage "Sell in May and Go Away." Discover why this outdated advice might not align with your investment goals today. Learn about the importance of long-term planning, the pitfalls of target date funds, and how a personalized approach to retirement planning can make all the difference. Plus, hear insights from Warren Buffett on taxes and legacy planning, and understand how recent tax changes could impact your financial future.
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Learn why it's crucial to have a diversified portfolio, the potential pitfalls of gold IRAs, and the impact of consumer confidence on investment decisions. With practical advice and heartwarming anecdotes, this episode is a must-listen for anyone looking to balance financial security with the joy of making lasting memories in retirement.
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In this episode, Steve and Derrick dissect the impact of the upcoming 2024 election on retirement finances, discussing market volatility, potential recessions, and the looming specter of Social Security uncertainty. From analyzing the aftermath of Tesla layoffs to dissecting the nuances of annuities and tax-saving strategies, Steve and Derrick offer invaluable insights and actionable advice to safeguard your financial future.
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Many Americans are retiring early, but this poses challenges such as healthcare costs and the lack of social security income. Planning for retirement is crucial to address these challenges. A 401k is only one part of the financial puzzle, and there are many other aspects to consider, such as social security, insurance, long-term care, and different investment options. Having a tax strategy is important to minimize the tax burden on inherited assets. It's essential to have a comprehensive plan and consider different strategies to protect and grow your retirement funds.
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The conversation focuses on retirement planning and the importance of generating income during retirement. Steve and Derrick discuss the misconception of relying solely on a specific savings number and emphasize the need for guaranteed sources of income like Social Security. They also highlight the benefits of fixed annuities and the potential risks and fees associated with variable annuities and 401(k) plans. The conversation concludes with a discussion on the importance of controlling taxes and fees and the need for a comprehensive retirement plan.
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In this episode, Steve and Derrick delve into the importance of meticulous planning, tax strategies, and risk assessment to ensure a smooth transition into retirement. Learn how to create a sturdy income plan that lasts through retirement and discover strategies for managing financial risks effectively. From navigating Social Security to mitigating market volatility, Steve and Derrick provide insights into building a retirement plan that stands the test of time.
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Are you approaching retirement and feeling overwhelmed by the financial planning process? On todays episode we will discuss...
- The importance of acknowledging and managing your emotions when planning for retirement.
- How to create a realistic budget that considers future expenses, including potential assistance for your children.
- Why having a consistent, dependable income stream is crucial for a stress-free retirement.
- Strategies to avoid the biggest threat to your retirement security: market downturns.
- How tax laws can impact your retirement income and the benefits of tax-planning strategies.
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Steve is joined with special guest Shawn O'Keefe, and they explore a crucial tax strategy for maximizing wealth. Discover how this unique approach allows sellers of highly appreciated assets to defer capital gains taxes, keeping more money working for them. Whether you're a small business owner, entrepreneur, or investor, this strategy offers a game-changing exit plan while preserving your hard-earned wealth. Shawn delves into the intricacies of this tax-saving method, shedding light on its applicability to various asset types and its potential for estate planning.
If you would like more information about this Tax Deferred Strategy call Steve today!
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Discover the importance of having a solid tax strategy in retirement, as Steve and Derrick discuss the significant impact taxes can have on your retirement income. Learn why merely having financial assets isn't enough and how a comprehensive tax plan can optimize your financial future.
Delve into practical steps to develop a customized tax plan tailored to your goals and circumstances. From identifying tax-saving opportunities to executing strategic Roth conversions, Steve and Derek provide actionable advice to minimize tax burdens and maximize retirement savings.
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Learn why understanding your retirement income potential is crucial for living your best life post-retirement. Explore heartwarming stories of clients who have embraced their golden years with joy and fulfillment, debunking the myth of dwindling opportunities in retirement. Gain valuable tips on crafting a retirement plan that aligns with your goals, dreams, and desires. Whether you're a seasoned retiree or preparing for the journey ahead, tune in to discover how you can live a retirement filled with purpose, passion, and prosperity.
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Discover actionable insights to safeguard your wealth against inflationary pressures and market uncertainties, as Steve and Derrick provide expert guidance on building a comprehensive retirement income plan. From Roth conversions to diversification strategies, learn how to maximize income streams and mitigate risks in an evolving financial landscape.
Whether you're a seasoned investor or just starting to plan for retirement, this episode offers invaluable advice to help you navigate the complexities of tax-efficient retirement planning. Tune in to RetireTexasStyle.com to learn more and schedule a personalized consultation with the Hoyl Financial Group today.
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From the impact on standard of living to the division of assets and retirement planning, Steve and Derrick provide valuable insights into the financial repercussions of divorce. They emphasize the importance of total re-planning and proper financial guidance to mitigate the challenges of starting over. Additionally, they discuss crucial factors such as Social Security benefits, healthcare costs, and long-term care planning that often accompany life transitions like divorce or widowhood.
Whether contemplating divorce, facing widowhood, or simply seeking clarity on retirement planning, this episode offers actionable advice and strategies to empower listeners in making informed financial decisions.
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Despite his immense wealth, Shaq's journey to financial stability offers valuable lessons for everyone. Learn how Shaq leverages his trusted advisors to evaluate business offers and secure his financial future. Discover the importance of having a non-emotional approach to financial planning and how it can lead to long-term success. Steve and Derrick explore the challenges faced by professional athletes and small business owners alike, emphasizing the need for strategic financial planning to ensure a comfortable retirement.
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Discover how timing plays a crucial role in Social Security elections and how making informed choices can significantly impact your retirement income. Learn from real-life examples, including one where a client preserved their benefits by understanding the implications of their decision.
Don't leave your retirement to chance—tune in to this episode to gain practical tips and strategies for optimizing your Social Security benefits and achieving financial security in retirement.
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Discover how Ruth's purchase of an annuity in the 1920s provided him with financial security during the tumultuous years following the Great Depression, offering valuable lessons for today's retirement planning.
In this episode, Steve and Derek discuss the evolution of annuities and the importance of choosing the right annuity to meet individual financial goals. Learn about the benefits of modern annuity options, including guaranteed principal and income, and how they can provide peace of mind in retirement.
The conversation also delves into the potential future of Social Security benefits and innovative solutions like the Social Security Risk Score, exclusive to Hoyl Financial Group clients.
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Join Steve and Derrick as they discuss the fascinating retirement plans of Tyler Perry and unveil common retirement myths. From Tyler Perry's vision of a laid-back retirement to the reality of financial planning, this episode offers valuable insights into retirement preparation. Explore the importance of having a personalized retirement plan tailored to individual needs and aspirations. Learn why merely having money saved isn't enough without a clear vision for retirement.
Then, Steve and Derek debunk myths surrounding retirement taxes and shed light on strategies for tax-efficient retirement income. Discover how proper tax planning can pave the way for a tax-free retirement and legacy for future generations. Get ready to challenge conventional retirement wisdom and gain practical tips for securing your financial future.
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In this episode, Steve and Derrick share insights on overcoming financial mistakes, handling unexpected challenges, and crafting a secure financial future. Discover how Steve and his team help clients navigate through credit card debt, auto loans, and retirement planning intricacies. Whether you're a risk-taker in the oil fields or someone cutting coupons at home, Steve and Derek provide practical advice and emphasize the importance of seeking professional guidance.
Don't let financial uncertainties control your retirement dreams—learn how to take control and secure peace of mind. Visit retiretexasstyle.com to connect with Hoyl Financial and start your journey toward a confident retirement.
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Join Steve and Derrick as they address the implications of the Trump tax cuts signed into law in 2017. With these cuts set to expire soon, Steve and Derrick discuss the potential impact on individual tax rates, standard deductions, and more. Learn how to proactively plan for changes in tax policies, ensuring your retirement remains secure. Discover strategies to safeguard your hard-earned money, including insights on tax efficiency, Social Security optimization, and the critical role of a Roth conversion. Don't let uncertainty cripple your finances—tune in to gain valuable insights and take control of your financial future.
Visit retiretexasstyle.com to connect with Steve and Derek and stay informed about securing your retirement.
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In this special edition, Steve is joined by David Duley, the founder of the Social Security Risk Score. Dive into the crucial discussion about the future of Social Security and how it impacts your retirement. As 2024 unfolds with uncertainties, they explore the individual decisions surrounding Social Security, potential income gaps, and strategies to fill them.
Learn about the innovative Social Security Risk Score tool that can assess your unique circumstances and provide a tailored risk analysis. Understand the significance of planning ahead, taking action within the 10-year planning horizon, and securing your retirement income from potential policy shifts.
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Are you feeling like you can never get ahead financially, no matter your income? You're not alone. The staggering reality is that the typical American household must spend an additional $11,434 annually just to maintain the same standard of living as of January 2021.
Learn how inflation isn't just a number on the news but a silent force impacting your daily life, from grocery bills to over-the-counter medication. The hosts expose the hidden factors that affect middle-class America the most, such as rising costs of food and gas.
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In today's episode, Steve and Derrick break down the intricacies of 401K rollovers. With a surge in interest, as highlighted by a 150% increase in requests for advice, the hosts shed light on the expected $760 billion rollover market this year.
Don't miss this empowering episode that will equip you with the knowledge to take charge of your retirement journey. Whether you're considering a rollover or planning for the future, Steve and Derrick provide actionable advice to set you on the path to financial security. Visit retiretexasstyle.com and take the first step toward a retirement tailored to your needs.
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Join Steve and Derrick for this eye-opening episode as they dissect the traditional 4% rule for retirement spending. The landscape has changed, and the rule has evolved. Learn why withdrawing 4% in the first year may no longer be sufficient and why aiming for around 4.7% might be the sweet spot.
The hosts delve into the risks associated with deviating from this rule – taking too much may jeopardize your financial longevity, while taking too little may leave money on the table. Discover a robust retirement strategy that goes beyond income, incorporating growth, tax planning, and legacy considerations.
Steve and Derrick emphasize the importance of having a comprehensive plan that addresses potential market losses, unexpected healthcare costs, and the need for emergency funds. They share insights gained from 34 years of experience in helping people navigate the complexities of retirement planning.
Take control of your retirement and call Steve today for your complimentary Income Review!
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With the Trump tax code set to undergo changes, Steve and Derrick explore the impact on financial and retirement planning, emphasizing the need for a proactive approach.
The hosts stress the urgency of taking advantage of the current historically low tax rates, offering a unique perspective on the potential challenges that could arise in the next few years. Drawing parallels to past decades, they provide valuable insights into the dynamics of tax rates and inflation, urging listeners to act now and plan for a secure financial future.
Discover why being proactive in retirement planning is crucial, allowing you to navigate potential tax law changes and market fluctuations with confidence. Steve and Derek share stories of clients who have successfully tailored their retirement plans to adapt to evolving economic landscapes, emphasizing the importance of avoiding reactive financial decisions.
For a comprehensive analysis of your retirement portfolio and proactive strategies tailored to your needs, visit RetireTexasStyle.com to schedule a consultation today!
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In this insightful episode of Retire Texas Style, join Steve and Derrick as they unravel the complexities of 401(k) management. The hosts address common concerns and confusion about planning for retirement, offering guidance and practical tips.
Discover the key challenges post-retirement when managing your 401(k) and the need for a comprehensive income strategy. Derrick breaks down the concept of "spending down" your money, shedding light on taxation, required minimum distributions, and the art of creating sustainable income.
The hosts emphasize the shift from traditional investment strategies and highlight the inefficiencies of relying solely on a 401(k). Derrick stresses the significance of diversification, introducing various financial products and strategies to ensure a robust retirement plan.
If you're approaching retirement or already in it, this episode is a must-listen. Call Hoyl Financial today for an income review and let their team help you navigate the numbers, taxes, and create an income plan that stands the test of time. Visit retiretexasstyle.com to schedule a consultation.
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The age-old question resurfaces: Do millionaires truly feel rich? A recent survey reveals that only 8% of Americans with at least $1 million consider themselves wealthy. But here's the twist – does the concept of being rich even have a fixed number in today's dynamic financial landscape? Steve and Derrick Hoyl Financial break down this topic and more!
Steve and Derrick challenge the traditional $1 million retirement target, highlighting the changing dynamics of longevity and purchasing power. As people live longer, the once impressive $1 million may not stretch as far in retirement. They explore the absence of a magic number, emphasizing the need to align spending habits with individual lifestyles and retirement goals.
In a candid conversation, Steve and Derrick share insights into generational perspectives on wealth and spending. They draw parallels to the "millionaire next door" and the evolving approach to retirement planning. Learn about the importance of crafting a personalized income strategy to ensure financial security in your golden years.
Discover why a comprehensive retirement analysis involves understanding expenses and how the Hoyl Financial Group strives to guide individuals toward financial confidence and security.
Call Steve today for your custom comprehensive retirement analysis today!
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Drawing inspiration from best-selling author Patrick Kelly, Steve and Derrick discuss the importance of planning for market storms before they hit, likening it to Noah building the ark before the downpour. The duo emphasizes the emotional impact of market swings and provides practical advice for investors of all ages. With the year-end approaching, they predict heightened volatility and stress the need for diversification and alternative strategies to weather financial uncertainties. Learn why fixed index annuities are gaining popularity and discover alternative strategies to boost your retirement comfort level. Don't miss out on essential tips to navigate the market storms and ensure a secure retirement.
Ready to plan your retirement? Visit retiretexasstyle.com and experience the Hoyle difference today.
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Join Steve Hoyl and Derrick Caldwell from the Hoyl Financial Group as they unravel the intricacies of the IRS's latest tax bracket adjustments, set to roll out in 2024.
While the prospect of lower tax rates sounds promising, Steve and Derek delve into a crucial aspect that often gets overlooked—how these adjustments impact the taxation of Social Security benefits, especially for retirees. With more than half of retirees expected to pay taxes on their Social Security income next year, the duo sheds light on potential pitfalls and how to navigate them.
As the conversation unfolds, Derek highlights the alarming lack of awareness surrounding the taxation of Social Security benefits, especially for those taking early retirement. Steve emphasizes the importance of strategic planning, debunking common misconceptions and guiding listeners on making informed decisions about when to claim Social Security.
Call Steve and the team today for your complimentary Tax Analysis!
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In this episode, we explore Black Rock's recent report, revealing insights into creating a successful retirement. With an astonishing $8.5 trillion in assets under management, Black Rock shares unconventional strategies that go beyond market risks.
Join hosts Steve, Derrick, and Jess as they discuss key recommendations from Black Rock, including delaying Social Security for higher benefits, considering a delayed retirement if needed, decreasing risk, optimizing asset allocation, and exploring guaranteed income products like annuities. Steve and Derrick analyze the surprising shift in Black Rock's stance, moving towards strategies like annuities that were once downplayed.
Get insights into common concerns, such as when to retire and the significance of Social Security decisions. Learn why sooner is always better than later when it comes to retirement planning and how delaying retirement might not always be the best solution. Visit retiretexasstyle.com for more details and take control of your retirement today.
Call Steve today for a complimentary Portfolio Review!
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Join host Steve Hoyl for an unforgettable interview with music legend David Foster and his talented wife, singer-songwriter, and actress Katharine McPhee. With 16 Grammy Awards and a remarkable career, David Foster shares insights into his journey, while Katharine McPhee discusses her experience as a new mom.
The conversation also touches on their involvement in philanthropy, particularly the impactful work of the David Foster Foundation, which has positively affected over 1400 families. David and Katharine share heartfelt stories of providing opportunities and support to children in need, making a significant impact on their worst days.
As the interview unfolds, the couple offers advice for aspiring individuals in the entertainment industry, emphasizing the passion, dedication, and realistic planning required for success. Katharine McPhee encourages young talent to have a clear idea of their path, while David Foster shares his perspective on the rarity of achieving a hit record.
Whether you're a fan of their work or seeking valuable insights into success and relationships, this episode is a must-listen.
For more details and to stay updated on Retired Texas Style, visit retiretexasstyle.com.
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Despite Wall Street's recent struggles, Steve emphasizes the need to be defensive and protect your capital. Join us as we explore the Rule of 100, guiding you on managing risk as retirement approaches. Steve shares crucial insights into a unique strategy that offers upside exposure without the downside risk, ensuring your money stays safe while still enjoying significant returns. Discover why it's essential to take control of your retirement funds, especially when time is limited. If you're seeking safety, security, and a solid income strategy for your retirement, this episode is a must-listen. Tune in now and empower yourself to make informed decisions for a secure financial future.
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You've heard the rumors, "Social Security is going broke!" There are growing fears that Social Security may face financial challenges, potentially leading to reduced benefits for retirees as early as 2033.
Join our hosts, Steve and Derrick, as they discuss the implications of potential Social Security cuts and how it can impact your retirement. They dive into the importance of understanding your Social Security risk and provide practical strategies for optimizing your benefits.
Learn how to create a comprehensive retirement plan, including the right timing for claiming your Social Security and which financial buckets to utilize. Don't let Social Security uncertainties jeopardize your retirement dreams. Get expert advice and ensure a financially secure future.
Call Steve today for your customized Comprehensive Retirement Plan and SS Risk Score!
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Join Steve and Derrick, your trusted financial advisors with offices spanning across the great state of Texas, from Midland and Odessa to Lubbock, Amarillo, Dallas-Fort Worth, and Austin, among others.
In this episode, we explore the inspiring story of Charles Feeney, a billionaire philanthropist who chose to give away most of his wealth while he was alive. Discover the pros and cons of adopting a similar approach in your financial planning, ensuring your legacy is built on your terms.
The conversation takes a fascinating turn as Steve and Derrick discuss strategies for securing your retirement, including innovative solutions for long-term care. Learn about unique strategies with 25% upfront bonuses and the potential to double income benefits when needed for activities of daily living. These strategies ensure your assets are protected and can be passed on to your heirs or a charitable cause of your choice.
Remember, at "Retire Texas Style," it's all about helping you make the most of your retirement. Don't hesitate to reach out, schedule a consultation, and let us provide a personalized retirement analysis. Your family's well-being is our top priority.
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In today's discussion, we tackle a financial concern that's on many minds—cash holdings. A recent study revealed that more than half of Americans are holding onto extra cash due to concerns about a market crash or recession. But how much is too much, and should you consider increasing your cash holdings?
The team at Hoyl Financial offer valuable insights into the balance between cash reserves and investments. They emphasize the importance of having a plan and avoiding extremes. Holding onto too much cash can mean losing out to inflation, and they discuss how to make your money work for you effectively.
The conversation also touches on the significance of personal relationships in financial planning. At Hoyl Financial, they prioritize personalized service and special attention, emphasizing the importance of getting to know you and your unique financial goals.
Whether you're nearing retirement, want to explore better financial strategies, or are looking for a team that truly cares about your financial future, this episode offers valuable insights and advice.
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Hear Steve and Derek dive into an irresistible discussion about Texas-sized appetites, Girl Scout cookies, and how food and savings strategies go hand in hand. Discover how they reminisce about local favorites like Whataburger, Taco Villa, and their love for jalapeno biscuits, and you'll quickly understand the true meaning of enjoying the best things in life.
But it's not all foodie talk. Steve and Derrick pivot to a more serious topic: taxes. They highlight the importance of tax planning in retirement, especially in light of possible future tax increases. Did you know taxes are on sale through 2026? Steve explains how the Trump tax package has influenced effective tax rates and why it's crucial to have a tax-efficient retirement plan.
The conversation takes a practical turn as they discuss tax-advantaged strategies like contributing to IRAs, beyond maxing out your 401(k). Discover how you can enhance your retirement and financial security by exploring different options to optimize your tax situation.
If you're concerned about how higher taxes might impact your retirement income and looking for ways to be proactive about managing your taxes effectively, this episode is packed with insights and advice to get you started. And if you're looking for a financial advisor who truly understands the importance of tax planning, you're in the right place!
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You've likely used the stock market to grow your retirement savings, but what happens after retirement? Roger Ibbotson, Emeritus finance professor at Yale University, advises that you should reduce risk during your early retirement years. Traditional bonds, once a go-to option, now face uncertainties due to fluctuating interest rates. So, what's the solution? Annuities.
Discover how annuities are emerging as a safer and more attractive alternative to bonds in your portfolio. Steve and Derrick, discuss the pressing need to analyze your bond investments, given the rising interest rates. Protecting your retirement nest egg is paramount, and annuities offer a compelling way to do just that.
Today, annuities can be tailored to suit your unique financial goals, whether it's growth or income. These are not your grandfather's annuities; they're a modern solution for today's retirees.
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Steve takes us on a journey through his remarkable career, spanning over three decades. Starting in Amarillo, Texas, Steve's financial expertise has taken him all over the Lone Star State. From Lubbock to Midland, Odessa to Dallas-Fort Worth, and now Austin, Steve has been helping Texans retire in style!
But what sets Steve and the Hoyl Financial Group apart is their commitment to getting to know you, the client, before diving into the numbers. Steve believes in the "Texas Two Step" approach – taking two steps forward into your financial future while occasionally stepping back to review and refine your plan.
Whether you're concerned about inflation, taxes, or simply ensuring you've done enough to secure your retirement dreams, Steve and his team are here to guide you. They'll help you create a comprehensive retirement plan tailored to your unique needs, complete with an income strategy, tax efficiency, and a solid financial legacy plan.
So, if you're ready to take the first step towards your ideal retirement, call Steve today!
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In this episode, we dive into two critical topics affecting your financial future: proposed changes to the tax status of the 401K and strategies to invest wisely in the face of inflation.
First up, Steve discusses the proposed tax changes to 401Ks by the Biden administration. The idea of a flat 26% tax credit, regardless of your tax bracket, is causing ripples in the retirement planning world. Steve explains how the current tax deduction system works and how the proposed changes could impact savers differently. While it may help those in lower tax brackets, it could be a burden for those in higher brackets. The potential shift from tax deductions to tax credits might muddy the waters and make retirement planning more complex.
Then, the conversation takes a turn towards the world of investing. With billionaires like Warren Buffett making headlines by moving away from stocks and into short-term treasuries, there's concern about the future of the market. Steve shares insights into what this means for individual investors nearing retirement.
The key takeaway? The world of finance is ever-changing, influenced by politics and market dynamics, call Steve today!
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Welcome to "Retire Texas Style," the podcast where your retirement dreams come to life. In this episode, we explore how often people daydream about vacations and financial happiness, discussing the importance of planning for retirement like planning for a dream vacation.
Surprisingly, a recent survey found that Americans spend over 109 hours a year, or 18 minutes a day, dreaming about their next getaway. This sparks an intriguing question: If we can spend this much time fantasizing about vacations, how much time should we dedicate to planning a retirement that feels like a permanent vacation?
Steve emphasizes that those who dedicate just 18 minutes a day to retirement planning could find themselves well-prepared for a financially secure and fulfilling retirement. He highlights the importance of proactive retirement planning, particularly in an uncertain economic climate.
Steve stresses that retirement planning is all about achieving financial happiness, which requires having a solid income strategy and safety in your financial plan. He discusses the need for predictable cash flow, especially in retirement, and the importance of creating a retirement plan that provides both income and safety.
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Welcome to another episode of *Retire Texas Style*, the Podcast. Today we dive into the ever-mysterious world of the stock market. Join us in this engaging discussion where we unravel some common misconceptions and explore strategies to secure your financial future.
Our conversation kicks off with a thought-provoking statement from economist David Rosenberg, who suggests that trying to decipher the stock market's every move can be a futile endeavor. The market, as we all know, often dances to its own unpredictable rhythm, defying valuations, timing tools, and fundamentals.
To address these concerns, Steve introduces a strategy designed to mitigate risk while still allowing for reasonable returns. This strategy caps potential gains but ensures that you won't lose a penny, even in a bear market. It's a way to both participate in market growth and protect your hard-earned savings from downturns.
Don't let uncertainty hold you back. Plan for a retirement that aligns with your vision and call Steve today!
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In this episode of Retire Texas Style, we discuss the truth about annuities and how to avoid making a retirement mistake. We talk about the different types of annuities, how they work, and the potential benefits and drawbacks. We also discuss some of the common misconceptions about annuities and how to choose the right one for your needs
With over 30 years of experience, Steve shares his insights on annuities and how they can be used to create a secure retirement income. We also discuss the importance of having a retirement plan and how to avoid making costly mistakes.
If you're thinking about using an annuity in your retirement planning, this episode is a must-listen. We'll give you the information you need to make an informed decision and avoid making a costly mistake.
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In todays episode, Steve discusses the importance of protecting your retirement income in a recession. He shares strategies for generating guaranteed income, even in a down market. He also talks about the importance of working with a financial advisor who can help you create a personalized retirement income plan.
If you're worried about how you'll make ends meet in retirement, this episode is for you. Listen to learn how to protect your income and secure your financial future!
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Steve takes a deep into the world of annuities, uncovering the misconceptions and shedding light on the potential benefits of these often misunderstood financial tools. Joined by Cheryl Moore, an annuity advocate, who breaks down the various types of annuities and their unique features. Cheryl emphasizes that the word "annuity" itself can sometimes create unnecessary stigma, but when you look at the features and benefits without the label, they become far more appealing.
Steve and Cheryl demystify annuities and discover how they could be a valuable addition to your retirement plan.
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In this episode of "Retire Texas Style," Steve and Jess dive into the unexpected phenomenon of Barbie's resurgence at the box office. Barbie, the iconic doll, has taken the world by storm with her latest movie, bringing with her not only a dose of nostalgia but also important financial questions. With over 200 careers, Barbie likely has a trail of 401Ks in her wake. Steve discusses the importance of managing these retirement accounts, especially in a year that's projected to be financially challenging. As the retirement saving crisis looms, many individuals are uncertain about their financial futures. Steve explains the transformative moment when clients transition from anxiety to confidence in their retirement strategy, emphasizing the importance of aligning financial plans with personal hopes and dreams. Tune in to gain insights into managing retirement accounts, building robust income strategies, and achieving that essential peace of mind in retirement planning.
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Join us for a thought-provoking episode of the "Retire Texas Style" podcast as host Steve engages in an insightful conversation with Candace Owens, the prominent American conservative political commentator, author, activist, and television presenter. Candace shares her perspective on the American dream and the values needed to achieve success as a country. She emphasizes the importance of individual work ethic, building strong families, and embracing the core principles that unite America. Offering valuable advice for parents in today's ever-changing world, Candace highlights the significance of instilling values and confidence in the younger generation. Learn about the pivotal moment that led Candace to her current journey and her vision for leaving a lasting legacy.
This episode is an inspiring exploration of politics, family, and empowerment that you won't want to miss.
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Discover how becoming a new grandfather can reshape one's financial outlook in this episode of the Hoyl Podcast. Steve reflects on the joys of grandparenthood and shares insights into planning for his grandchild's future, including college funds and legacy planning. Gain valuable insights into retirement planning, asset leverage, and creating a financial foundation for future generations. Join Steve and Jessica as they explore the transformative power of being a proud grandparent on financial perspectives. Listen now!
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The big question on Wall Street continues to be, “Have we seen the bottom?” One well known economist says “no.” Nouriel Roubini says anyone who believes that this will be a ‘shallow’ recession is “delusional.” He says be ready for severe recession, severe debt, and a severe financial crisis. Now you know why they call him Dr. Doom. If you are close to retirement, how serious should you take comments like this?
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Here are the results of a new study from New York Life:
1- 41% of those who are invested in the stock market said they had reduced their equity allocations in the past six months.
2- 30% of investors in stock, bonds, and other securities made changes to their portfolio in the past six months.
3- 37% have moved more money into cash.
Is moving the cash the answer? Can you invested and pull back risk?
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Once upon a time, the Biden Administration pushed to tax wealthy Americans more on the assets they own (retirement savings, house), rather than just their income. That idea went nowhere in Congress. But seven states have now introduced ‘wealth tax bills’ that try to accomplish the same thing. Isn’t this another example of Congress looking for money and creating ways to tax it?
Then there’s a major tax event coming in 2026. And that’s the expiration of the so-called ‘Trump tax cuts’ (the Tax Cuts and Jobs Act passed in 2017). What do people need to understand about this when it comes to tax planning and what should they consider for the next few years?
How often do you think about going on vacation? Is it every day? A new survey (by OnePoll) found that Americans spend about 18 minutes a day dreaming about being on vacation. (That’s more than 109 hours a year!) If they’re spending this amount of time thinking about vacation, how much time would it take for them to create a retirement plan with you, so everyday can feel like a Saturday?
Plus, hear Steve discuss ways to keep your money safe, protected and give it growth opportunities!
We’ve talked before about the benefits of annuities. They not only provide a guaranteed stream of income in retirement but can also serve as a hedge against inflation, market volatility and running out of money in retirement. But there are so many different types of annuities. How do you go about picking the right one?
Call Steve today for your Annuity Stress Test!
Should we buckle up for another market pullback? Then, what' s there a difference between someone who moves to safety and someone trying to time the markets?
Hear Steve and Derrick discuss options and strategies that can help you protect and grow your income in NO MATTER what is going on in the market!
Call Steve today for your custom Risk Analysis - STOP THE BLEEDING!
The list of headwinds to the economy continues to grow. Inflation, rising interest rates, bank failures, recession, and more. Are we headed for another 2008? Think about this, if you knew that 2008 was going to happen, you probably would have made some moves with your money. Steve explains how he can help you create a plan where you can be invested in the market, be protected from a potential decline and protect your income - find out how when you meet with Steve for your complimentary Portfolio Review!
The stock market continues its roller coaster ride. Market Analyst Larry McDonald told Fox Business that he sees a 10 to 30% pull back in the next two months. He says the Fed raising interest rates is hurting in more ways than one. So, our 401(k) is going down and our dollars are buying less. What is your answer to someone who says, “get me out of the stock market?”
What crazy thing would Americans do to have a tax-free future? A new survey (by WalletHub) asked that question and found one in ten would clean prison toilets for three years in exchange for never paying taxes again! Well, we all know taxes (and the IRS) aren’t going away. It’s just a matter of controlling how much we give to Uncle Sam. Hear Steve explain how he can get your a tax-free retirement!
Call Steve today and create your tax-free future!
Americans think they’ll need more money to retire. A new survey (by Northwestern Mutual) shows the new ideal amount is $1.25 million. That’s an increase of 20% over last year. The same poll also found more than a third have not addressed the possibility of outliving their savings. Isn’t that a bigger issue than finding the ideal “number?”
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Thomas Hoenig was the President of the Kansas City Fed for 10 years. He tells Fox Business that the deep part of the recession is still in front of us. What’s your action plan heading into the new year? Hear how Steve can help protect and grow your income and create a market protection plan!
Call Steve today for your complimentary Market Protection Plan!
If you have a traditional IRA or 401(k), you could run into a HUGE tax problem. That’s why you hear people converting those funds to an after-tax Roth IRA a little bit at a time before retirement. Financial author Ed Slott tells the Morningstar financial website that it enables you to take control of your tax planning, but how easy is it to do this? At what age should someone consider making the conversion? Steve explains how he can help you with this process and keep more money in YOUR pocket and LESS in Uncle Sam's!
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An article in The Street warns that a lot of people are surprised at how big their tax bill is after they retire. Why does this happen? And are there any steps we can take to lower that bill? Steve discusses the tax strategies he uses that can help put more money back in your pocket rather than Uncle Sam's! Plus, when you leave that 9-5, what do you do with your 401K?
Call Steve today for your Complimentary Tax Analysis!
Sometimes a rocky economy is like a football game. Market volatility, high inflation and the threat of recession can tackle even a good retirement plan and throw it for a huge loss. So, is there a tool can withstand these threats? Hear Steve explain how he can give your money purpose, all while protecting and grow your income in retirement - STOP THE FINANCIAL BLEEDING TODAY!
Call Steve today for your very own customized income plan!
Will you spend more money earlier in retirement on fun stuff or will most of your spending come later things like healthcare? Hear how Steve can help you prepare for both! Then, ever wonder what your cat is saying to you? There’s an app for that. It’s called “MeowTalk.” It uses artificial intelligence and algorithms to decode what the feline is communicating (like happy, resting, hunting, or mating call.) One complaint about financial advisors is they sometimes communicate in a language no one understands. How do you make sure retirement plans don’t get “lost in translation?”
Steve can help you today with a complimentary Portfolio Review!
I saw an article that talked about the so-called financial planning ‘rules’ that should be abandoned. One is the “60-40” portfolio split between stocks and bonds. The other is the “4%” withdrawal rule (if a retiree withdraws 4% in their first year, and adjusts that for inflation every year after that, their money has good odds of lasting 30 years). Do you agree? Should we look at these as starting points in investing rather than hard-and-fast rules? When the market is down, there might be a tax opportunity. It comes when you offset any gains with some of your losses. It’s called “tax loss harvesting.” Can you explain more? Do we have to wait until the end of the year to take advantage of it? According to a new paper from the Center for Retirement Research, there are 5 big retirement risks that people aren’t giving even attention. In order, they are:
- Longevity risk - Running out of money because you live so long
- Health risk - High medical expenses eating into your monthly income
- Market risk - Losing money in the stock market or the housing market
- Family risk - Divorce, the death of a spouse, or other family issues
- Policy risk - Taxes going up or Social Security benefits going down
The paper points to “stable lifetime income resources” to cover all these fears. How does your planning solve for all these issues?
Call Steve today for a Complimentary Portfolio Review!
When will we see the bottom of this market? Can we be successful with our retirement portfolio without having to resort to that kind of guesswork? What are the chances we could fall into recession in the next year? Economists with Bloomberg say it’s 100% certain. And it might hit sooner than later. Hear how Steve can you help you build a financial bridge to get to the other side of this mess?
We’ve talked a lot about how the bond market is also having a horrible year. That’s why many investors are seeking ideal bond replacements. Sheryl Moore of WinkIntel.com believes you might consider an annuity. Hear Steve share his opinion and more.
The newest iPhone has a pretty cool feature called “crash detection.” Just like it sounds, the phone detects various types of car crashes, then automatically calls 911. But some riders of roller coasters are discovering that all the herky-jerky movements are also triggering calls to 911. When you’re analyzing a portfolio, what sets off your ‘crash detector?’
The one thing we all wish we had more of is TIME. You know the saying, "There's not enough hours in the day!" I get it, we're all busy. BUT, if you don't take the time to PLAN for your retirement - who will?
Not all recessions are created equal. But economist Lawrence White tells CBS News that the one thing they all have in common is they were triggered by certain events and sometimes a recession can trigger making financial decisions while emotion.
Then, Steve talks about his process and what separates him from other financial advisors and how he can help YOU.
Q&A with YOU!
Listener question from Tessa: Is this a good time to get out of the Market? And what are the benefits of doing Roth Conversion? Hear Steve's response and most importantly how he can help you protect your money from a volatile market!
Americans are trying to stretch their dollars amid high inflation, but they might be overlooking money they already have – gift cards! A new survey (by CreditCards.com) found the average person has $175 in unused gift cards. (Check your wallets!) And if you don’t remember to cash them in, you’re leaving money on the table. You DONT want to leave money on the table in retirement and Steve can help you avoid this!
Then, an article in Smart Asset asks an interesting question: “Do you actually need a lawyer, not a financial advisor?” Their point is the advisor helps you protect your money with management, tax planning and insurance, while the attorney helps you protect your money with wills, trusts and estate planning. If you picked one over the other, what could you be missing? Hear Steve explain how he can help you create an income plan with income for life!
Question: Do you think you pay too much in taxes … or too little? That’s a trick question because we all pay too much! But IRA expert Ed Slott tells The Motley Fool that’s our own fault! Bottom line, "the more you plan, the more you keep.” Steve explains how he helps clients minimize taxes in retirement and how a tax free retirement IS POSSIBLE!
Then, the so-called “five-second rule” is apparently alive and well. A new survey (by OnePoll) shows more than 40% of Americans will eat things off the floor if they can pick it up immediately. And they do it an average of four times a month. In the world of retirement, we have something called the 4% rule (by withdrawing 4% of your financial assets each year, you could adequately fund your retirement.) Are you a believer in this approach? If not, what do you base withdrawal rates on, especially when the number one concern of retirees is running out of money?
Call Steve today for a customized Portfolio Review!
A Princeton Professor did a study asking retirees which approach they preferred to fund their retirement. Dr. Wade Pfau found one third liked living off the growth and income of their portfolios, another third preferred the safety of annuities, while the remaining third was split between bonds and a hybrid of all three strategies. Where do you see your clients on these choices?
If someone comes into the office and you were to ask them…what do you want your money to do?
They might say:
- I want my money to grow
- I want to have access to my money
- I want protection if the market goes down
- I want the money to go to my family if I die
When I tell them, you’ve just described an annuity…they might be shocked. Because everything they’ve heard about annuities is negative. Don’t focus on the name of the tool, focus on what the tool does FOR YOU AND YOUR MONEY!
Call Steve Today for an Income X-Ray!
Are we in a recession now? If not – is one coming? That’s the big question as the Fed raises interest rates again to fight 9.1% inflation. Steve explains what pre-retirees and retirees can do now to prepare for a recession if and when it hits to both protect and grow your income and most importantly not run our money. See how Steve can help YOU create a customized income plan!
Steve talks about creating generational wealth and discuss the list of 50 things every 50 something should know about retirement!
Call Steve today for a complimentary Portfolio Review!
I came across a post on the blogging website Reddit that struck a nerve. It was people talking about childhood friends they assumed were rich – and why they assumed that. It’s a good reminder that “wealth” is often in the eyes of the beholder. Hear Steve explain how he can help you achieve what wealth looks like for you in retirement and what the first time meeting is with Steve!
Do you feel like your 401(k) is now more like a ‘301(k)’ because of all the market declines? Hear how Steve is helping clients preserve their retirement savings during such a volatile time. During all the volatility in the stock market, we’ve heard one financial term being tossed around a lot – bear market. Is the stock market in a bear market right now, and will that lead to a recession? Steve shares his thoughts and much more!
Call Steve today for your Market Protection Plan!
You know all those stories about Social Security going broke in 2034? Well, here’s some good news! Uncle Sam had a good year, so they’ve pushed the “go-broke” date back by one year to 2035. Not too exciting, right? Recently, we sat down for an exclusive interview with former Vice President Mike Pence. He told us the government must do everything to keep Social Security. Hear Steve share his position on the future of SS and where it falls in the retirement mix.
Then, if you mention annuities as a part of retirement planning, you’re going to get a variety of reactions. Some love them, some hate them. An article in Market Watch declares “they are neither good nor bad.” So now I’m really confused. How do you know if an annuity might be right for you?
Let’s say you’re only a few years away from retirement and you haven’t paid off your mortgage yet. Is that a problem? Steve weighs in on this and you'll hear questions from our audience!
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What's the difference between a Traditional IRA and Roth IRA? Steve talks about the best time to do a Roth conversion and how to pass down your Roth IRA tax efficiently!
Call Steve today for a Portfolio Review!
Having an emergency fund is CRUCIAL both in your working years and during retirement. But, how can you stretch the pennies to build it while fighting inflation day to day? Hear Steve discuss how he helps his clients with this and how he can help YOU. Then, the Motley Fool financial website says there’s no single “right way” to plan for retirement. But there are plenty of “wrong ways.” And one of them is forgetting about how taxes are going to affect your post-career income. Why are taxes such an important part of retirement planning?
If you’re 72 or older, the government makes you take Required Minimum Distributions every year. RMDs consume a percentage of your retirement assets. But thanks to new data that shows Americans living longer, the IRS has revised the RMD tables so that they’re at a lesser percentage. That means fewer taxes to pay. That seems like good news, right? Does this change your thinking about the IRA to Roth conversion?
An annuity is simply a contract between you and an insurance company. In exchange for a lump sum, it promises periodic payments for a certain period. Annuities and 401(k)s both can provide long-term savings, tax-deferred growth and probate-free way of passing assets to beneficiaries. But an article on the NASDAQ market site makes the argument that an annuity is better than a 401(k), especially later in life. With all the negative press on annuities, is there a change of heart happening here … even on Wall Street?
Economists routinely tell us that the biggest retirement worry is running out of money. But Forbes says there’s another concern that doesn’t get as much attention … and that’s maintaining the same standard of living. But how do we do that, considering that our retirement income will probably be less than what we earned when we were still working? Kevin explains how his 6 pillars for a successful retirement can help grow and protect your pile of money for retirement so you don't run out of money!
If you missed the show this week, you're in luck - hear Steve interview Bill Murray!
Steve had the opportunity to meet and chat with Bill Murray and his brothers (Brian Doyle, Joel, Andy and Johnny) during their "Murray Bros. Caddyshack Charity Golf Tournament" in St. Augustine, FL!
Bill and the brothers discuss what investments they would avoid, who taught them the meaning of charity, and the best financial advice they were given.
Jason Aldean joins the show and shares the secret to his success! Hear Steve share what he says is the secret to his nearly 30 years of success and what he and his team can offer that's different than other financial advisors!
Call Steve for your Complimentary Consultation!
Inflation is giving way to something called “shrinkflation.” Companies are trying to fight higher prices by cutting corners with their products. For instance, Doritos bags will now contain five fewer chips. Crest is putting less toothpaste in its tubes. And Charmin is cutting 20 sheets from its two-ply rolls of toilet paper. Those planning their retirement can also cut corners. Some avoid talking to a financial professional, opting instead to ‘do-it-themselves.’ Steve explains why your financial future is NOT a DIY project!
Call Steve for a Complimentary Income Review!
How do you know it's the right time to meet with a financial advisor like Steve? Then, hear Steve share some listener questions!
Call Steve Today for a Complimentary Consultation!
Ever heard of the 4% rule? The idea was with a 50/50 mix of stocks and bonds, you could pull 4% out to live on and not run out of money over a 30-year retirement. You can still find that rule on the internet today. But does it take into account today’s huge inflation rate, or should we just throw out the concept altogether? Steve weighs in on the 4% rule and then shares some popular questions from listeners just like you!
Call Steve Today for a Complimentary Consultation!
U.S. News & World Report says there are “financial advisors” … and then there are “retirement financial advisors.” Hear Steve explain the difference as well as which category he falls into. With over three decades in the financial world, Steve is ready to help YOU cross that retirement finish line!
Is it a good idea to set a solid retirement age? Or should you be more flexible as your nest egg grows? Then, what does Steve tell his clients when it comes to setting their own “end” date? What are the factors he walks them through? hear Steve explain what a first time meeting with him is like, what to bring and what to expect!
Is it time to take drastic steps to protect your retirement savings as the market continues dramatic volatility? It’s in response to how the Fed is dealing with rising inflation. Chair Jerome Powell is hinting interest rate hikes could begin as soon as March. But here’s the question – should we “wait out” all this turbulence, or make portfolio changes to help safeguard our retirement future? Steve weighs in on the current market volatility, the importance of a tax plan in retirement!
The sixth richest man in the world ($104 billion net worth) enjoys a simple, frugal life. Buffett still lives in the same starter home he bought in 1958. He begins the day with a McDonald’s breakfast and even clips coupons. And Buffett doesn’t splurge on expensive hobbies. In fact, he told CBS Sunday Morning that he plays bridge about 8 hours a week! How important is it for retirees to stay frugal as they spend their nest egg?
When you log into your financial accounts, what’s the number that needs to be on the bottom of the page before you’d feel completely comfortable about retiring? Three-fourths of Americans responding to a MagnifyMoney survey say one-million dollars would do the trick. On the other hand, a fourth of baby boomers surveyed say there’s no amount of money that would make them comfortable! What are your thoughts on what it takes for someone to feel confident about being able to retire?
The National Financial Educators Council did their annual study asking people how many used a financial advisor. Of those 55 and up, the number is now at 41%. That seems to be a modest improvement. Hear why Steve thinks more people are seeking help from a financial professional!
Researchers say they’ve zeroed in on the perfect time to fall asleep. They found it’s between 10 and 11 p.m. Outside of that hour, your circadian rhythm gets disrupted enough that your risk of cardiovascular disease goes up. If that’s the “sweet spot” for sleep, what is the right amount when it comes to contributing to your 401(k) or retirement plan?
Congress needs to raise the debt-ceiling from time-to-time so the government can pay its bills. We keep hearing about the downside of not raising the limit: like interest rates going up and the market getting spooked. Treasury Secretary Janet Yellen even tells CNBC it could also delay Social Security payments. So we’ve heard this song before, and we’re likely to hear it again. Is this something clients need to pay attention to? Hear how Steve is guiding his clients and how he can help you.
Then, how often do you check your smartphone? A survey by the tech care company Asurion found Americans look at theirs 96 times a day. That’s about once every 10 minutes while you’re awake! That number is up 20% from a similar poll two years ago. Jittery investors tend to check their financial standing a lot. Think about it, how often do you check on your income plan?
Hear Steve talk about the "Income For Life" tool that he uses to help his clients, and how he can help you. Then, President Biden is pushing trillions of dollars in new spending … and his supporters in Congress are considering several different tax hikes to pay for it all. One of them is a so-called “death tax” … that’s a tax that your family has to pay whenever they inherit something from you. But former U.S. Senator Heidi Heitkamp, a Democrat, tells CNBC that would be a big mistake. Hear Steve share his thoughts on where this is going and how he can help you protect your assets from Uncle Sam.
While a lot of talk surrounds the fear of inflation pushing us into another recession, an expert says we may already be in one. Dartmouth College professor David Blanchflower points to two major indices of consumer confidence that have dropped more or just as much as they did ahead of the 2008 crash. He believes that the U.S. will firmly be in a recession at the end of this year. That’s scary. What steps should be taken to safeguard the savings for those who are nearing or have just entered retirement?
Then, has the pandemic changed your retirement date? Asset Manager Penny Pennington spoke to Yahoo Finance and said for many, it has. Have many of your clients moved their retirement dates up? What goes into that kind of planning? Hear Steve explain!
Believe it or not we’re already in the fourth quarter of the year! And Morningstar’s Christine Benz says that means it’s time to take stock of your investments…what are some other things we might want to look at as we approach the end of another year? Do you have any retirement accounts that you’re not aware of? Don’t laugh, there’s a lot of them out there. CNBC says that’s why there’s legislation pending in Congress that would create an online “lost and found” database for 401(k) and pension plans. Is it a good idea for the government to get involved in this? Hear how Steve helps clients track down any plans they’ve lost track of or didn’t even know existed!
One of the most basic retirement planning questions people have is “How am I doing?” We want to know if we’re on track for a comfortable retirement, or if we might need to change something. To help, Fidelity came up with some so-called “benchmarks” for how much money we should have set aside, by certain ages. Are these kinds of things generally helpful, or is there a better way of determining how we’re doing?
There’s a term that occasionally pops up in the financial media “lifetime income.” Market Watch cited a survey in which one-in-three people believed they could get lifetime income from a mutual fund. And one-in-five thought it comes from a target date fund. Let’s try to clear this up: First, is there really such a thing as lifetime income, or is that just some kind of marketing term? And if there is, how does it work? Hear Steve explain!
Liz Weston, a personal finance writer for Nerd Wallet, says you can gain … or lose … as much as $100,000, just by the way you claim Social Security! And she says you never want to make your claim based on something a Social Security employee tells you. But if we can’t rely on someone who works there to give us good advice, who can we turn to?
It’s November and Investopedia says you don’t want to wait ‘til the last minute to do your year-end tax planning. So, what do we need to do and how do we get started?
Fidelity says the average IRA balance is up 21% from a year ago, while the average 401(k) balance is up 24%! And the total number of million-dollar retirement accounts has nearly doubled over the same period! Obviously, we have the markets to thank for that. But before we celebrate too much, remember what those same markets did to our retirement accounts back in 2008! We know that we have zero control over the markets – but does that necessarily mean we don’t have any control over what happens to our retirement savings? And is there anything we can do to maybe lock in some of these gains we’ve enjoyed over these last 12 months?
I know we’re supposed to put 3-to-6 months worth of living expenses in an emergency fund, but where do we keep that money? Wouldn’t it earn more in a Roth IRA than in a regular savings account? Is that a good idea, or would you advise against it?
This may surprise you: A new report from the Credit Suisse investment bank estimates that nearly 1 of every 10 American adults is now … a millionaire! That’s great news but I’m sure a lot of those new millionaires are wondering, “Now what?” How do we make sure we’re still a millionaire (or better) by the time we hit retirement?
Hear Steve discuss how he can help you create income in retirement and never run out of money!
Football is finally back and there’s an old saying, “Offense wins games, but defense wins championships.” Best-selling financial author Patrick Kelly says the same can be true for your retirement strategy…but how do we keep from “giving up points” when it comes to our nest egg?
Then, both the Dow and the S&P 500 recently closed at new record highs. So, what does that mean for your investing strategy? Is it dangerous for us to get too comfortable with the idea that our investments are just going to keep going up?
Blackrock CEO Larry Fink tells CNBC that record-low interest rates are a major problem for those of us trying to save for retirement and we are headed for a silent crisis - is he right? Are these low rates going to force some of us change our retirement plans?, Inflation has been a hot topic in recent months, but Market Watch says – if you’re planning for retirement – inflation should always be a hot topic. How do we make sure we can maintain a consistent standard of living through all the years of a 20- or 30-year retirement?
Steve talks about income for life keep pace with inflation. Have you taken the time to draw up an actual estate plan or are you just going to leave your family to hope for the best? According to the latest Gallup poll, a majority (54%) of Americans don’t even have a will! Why does it matter so much?
The National Debt has grown to a cool $16 million since the beginning of the pandemic! Experts say the bill is coming due soon and guess who gets to pay it? US! YES - ME AND YOU! That means higher taxes! Steve, what does this mean for us as we get close to retirement or are already retired?
The Senior Citizens League says if you’d retired in the year 2000 with a total income of $100,000, you’d now need $156,000 to be able to afford the same standard of living. That’s thanks to inflation, which – by the way – has been rising much faster than usual lately. We’d like to think that we’ll be able to replace our current income in retirement, but it appears we’re losing ground. What’s the answer? Hear Steve explain!
With inflation back, the Fed may have to at least consider changing some of its policies. And Moody’s Analytics economist Mark Zandi tells CNBC that’s going to make your portfolio vulnerable to a 10-to-20 percent correction! He goes on to say that it could take up to a year to return to break-even. First, do you agree with what he’s predicting? And second, is that a problem?
Then, Kiplinger warns that those of us approaching retirement are facing a “perfect storm”: Low interest rates and high inflation … the combination of which will force us to take on more market risk than we’re comfortable taking. How do we navigate that perfect storm?
Hear Steve's interview on Good Morning Texas with Michael Wiiest....
While it seems like a simple question, think about it – how do you know WHEN you’re ready to retire?
When a lot of us think about retirement – we think about FREEDOM! But it also means that the paycheck we have counted on for decades is no longer there right?
Most importantly, how can Steve help you secure income for life you can't outlive?
President Biden wants to change the way assets are taxed when they’re passed on to our children or other heirs. He says the changes would affect only the ultra-rich, but critics argue that middle-class Americans would be hit hard as well. South Dakota Governor Kristi Noem tells Fox Business that her family had first-hand experience with the kind of tax Biden is pushing and the impact was HUGE. If Biden does push through these tax changes, what can small business owners do to keep from losing everything they have?
Inflation is up … but the Fed says it’s not worried. Should we be concerned? Portfolio manager Nancy Davis tells CNBC that we absolutely should be! So, what threat do we need to be most concerned about now? If you know someone who’s already retired, ask them to tell you their biggest financial regret. The people at Nationwide Financial did that and the number-one response was … people wish they’d done more to prepare for their retirement taxes! So, for those of us who are nearing retirement, what could we do now to avoid that regret?
Hear Steve's interview on Good Morning Texas with Michael Wiiest....
Steve talks about the steps you need to make sure you are successful retirement without being overconfident about it !
Now that President Biden is trying to raise the inheritance tax, CNBC says some people are considering life insurance as an estate planning tool. Is that really an option?
The CDC says America’s birth rate dropped last year by 4% – our biggest decrease in half-a-century. Professor Kasey Buckles, an economist at Notre Dame, tells CNBC that’s bad news for retirees - why?
Hear why Steve is so passionate about helping people with retirement and how he can replace that paycheck in retirement!
A report by the Employee Benefit Research Institute (EBRI) found that roughly 10% of baby boomers in the highest income group will run short of money! And the percentage is even greater for those in the more modest income groups. So, we clearly have a problem here. How do we keep that from happening? Steve talks about the difference between income and money.
You may have see that Census Bureau story about Texas and Florida being the fastest-growing states, population-wise. Coincidentally, both of those are considered to be low-tax states. Jimmy Patronis, who is CFO of the state of Florida, tells Fox Business that’s a big attraction for people who are tired of paying high taxes… but what if I’m happy right here? Do I really have to move, just to lower my tax bills in retirement?
We have some breaking news, courtesy of the financial geniuses at Market Watch: They’re reporting that … quote, “Most people have no clue what they pay for their 401(k).” Hmmm, let’s see … where have we heard that before? Oh yeah, we heard it from you … right here on this show! You’ve been telling us for a long time that a lot of retirement savers are having their returns eaten up by fees … and they don’t even realize it! So, please tell us again, what can we do about that?
Retirement is something we look forward to – if we’re prepared. But the Census Bureau says the pandemic is forcing some 3 million older Americans to retire earlier than they’d planned. Steve discusses how if you're in this situation, how he can help you - its never to late for financial planning.
Then, Steve talks about how President Biden said that no one making under $400,000 will have taxes increase but that is a lie according to Steve! How can you prepare NOW?
On this weeks show, you may have heard Steve interviewing Bill Murray - how cool is that ?
Steve had the opportunity to meet and chat with Bill Murray and his brothers (Brian Doyle, Joel, Andy and Johnny) during their 20th "Murray Bros. Caddyshack Charity Golf Tournament" in St. Augustine, FL!
This is a small part of the interview that didn't air - enjoy!
When it comes to the different expenses you’re going to have in retirement, most of them are fairly predictable. But there’s one that could range from a little … to a lot: Healthcare. You might get lucky … or you might suffer a major illness that wipes out the savings you thought would last you 20 or 30 years. So, how can we plan for healthcare, when we really have no way of knowing how much it’s going to cost us?
Do you worry about running our of money in retirement? How much money would you need to have in your retirement account to feel comfortable? Steve shares his bucket approach and how he can help you retire STRESS FREE and never run out of money!
A lot of investors have been celebrating the new record highs on Wall Street. But CNBC’s Jim Cramer is not one of them. Cramer says the rallies are not supported by the fundamentals, a condition he describes as being a “frothy” market…what about those of us who have retirement savings in the market – do we also need to “take something off the table”?
Steve talks about if it's okay to invest “a small amount of money” in Bitcoin, or is it just too risky for those of us who are trying to grow our nest egg?
It's TAX TIME! Steve discusses what you need to know about the stimulus payment's impact to your taxes!
President Biden has repeatedly told us that – unless we earn more than $400,000 a year – he won’t be raising our taxes. But we know that he’s considering an increase in the capital gains tax. So, if this happens, how do we approach our holdings in stocks?
We’ve seen a lot in the news lately about GameStop. Supposedly, individual traders banded together on social media to somehow manipulate that company’s stock price. The claim is that these traders are getting rich – and they’re doing it at the expense of hedge fund managers. Is this a way to make some easy money – or is it a case of “If it seems too good to be true…?”
What questions should you ask while looking for the perfect advisor for you?
Then, a study by Capital One finds that the average age at which someone inherits money is 51, meaning the money comes just about the time the heir is trying to boost his-or-her nest egg. So, let’s pose a hypothetical: Suppose I’m in my 50s … I inherit maybe 50-or-100 thousand dollars … and I want to use that money to improve my retirement prospects - is this possible?
Happy New Year! Hear Steve explain what possible financial and tax changes could be coming our way in this new year and how he can help you protect and GROW your income.
BlackRock has started to offer something in certain 401(k)s that’s rather new. The Wall Street Journal reports that five employers have signed up with the investment giant to offer annuities in their plans. In theory, that would allow workers to receive retirement payments for the rest of their lives. Could this savings approach turn into a trend? How do you know if the annuity they’re offering is right for you?
The retail chain known for selling nearly everything for a buck-or-less, is warning that rising costs will force it to sell more products for $1.25 or $1.50! That may not sound like much but – if you think about it – that’s a 25-to-50% price hike! You’re known for designing retirement strategies – are there any that might help us maintain the value of our nest egg, over time?
Is now the time to take everything out of the market? Whats the best approach during this market volatility with an uncertain future?
Three months ago, one of the most common questions among baby boomers was “Can I afford to retire?” Now that the market has dropped, I’m guessing it’s even more common. Should the answer to that question be any different today than it was then?
In these times of social distancing, you can still meet with Steve via a virtual meeting - CLICK HERE !
Looking back at our childhood, many of us would agree that our parents had a harder life than we’ve had. But the Money Talks News website argues that our parents had an easier retirement than we’ll probably have. Why do you suppose that is?
Visit Steve today!
Fox Business cites a survey showing that a majority of Americans believe the outcome of the election is going to hurt them, financially. And surprisingly, people from both major political parties feel that way!
Regardless of how you feel about the election results, there’s a good chance your tax rates will be going up in 2021. But IRA expert Ed Slott tells Yahoo Finance it’s up to you to decide by how much.
Hear how Steve says you can manage how much you give to Uncle Sam!
The new healthcare estimates are in: Fidelity says a 65-year-old couple retiring this year can expect to spend about $295,000 in healthcare costs, over the rest of their lives! That’s $10,000 more than last year. And considering that we’ll still have all our other retirement expenses to pay, how in the world do we prepare for that?
- Fidelity’s annual Health Care Cost Estimate says a 65-year-old couple retiring this year should expect to spend about $295,000 on health care costs alone in retirement. (A single woman retiring at 65 in 2020 can expect to pay around $155,000 for health care during her retirement while a man at the same age may pay $140,000.)
- That includes Medicare Part A, Part B and Part D premiums and deductibles, but it does not include over-the-counter medications, vitamin supplements and glasses. Long-term care insurance is also not included, which on its own could be an additional thousands of dollars a month.
If you're interested in meeting with Steve for a Complimentary Portfolio Review, call Steve today! This is a great opportunity to see where you stand today, what can you do to reach your retirement goals, avoid making financial mistakes that can set you back, and more!
How much money do you waste a month? Did you know the average baby boomers spends $680+ a month on nonessentials? That’s a $1 here, $5 here and only $10 next time, well it adds up! Did you ever think that you were wasting money or leaving money on the table? Do you REALLY need that new iPhone? Or Starbucks every day? What if you could take that extra cash and put it towards something more rewarding – your retirement! When you meet with Steve, he can show you where you’re leaving money on the table, where you’re “throwing money down the drain,” and help you redefine your budget to make room for your retirement plan. Steve can make sure you never run out of income, but you have to make sure you never run out of money!
Steve discusses why its so important to be proactive with your financial plan and if your married, why both spouses need to be on the same page. Then some analyst say we are headed into a bull market while other say we're going into a recession - how do we know who to believe and how can we protect our money? Plus, what you need to know about your first meeting with Steve!
Call to schedule a FREE Portfolio Review with Steve over the phone, ZOOM or in person!
Reuters is reporting a rush on estate planning appointments, because of fears about how the rules might change if Joe Biden wins the election. Are there steps we could take now that would benefit us in the event that the rules do change? Steve talks about taking control of your money!
Schedule a Complimentary Consultation with Steve TODAY!
How many different income streams or buckets of money do you think you need? Hear how Steve says planning for retirement is like a symphony!
The biggest fear of planning for retirement, is running out money. Make sense, right? You have received a paycheck you're working life, so where does the paycheck come when you leave the working world for retirement? That's were Steve comes in! Steve can show you how he can create income you can't outlive and give you that added peace of mind.
Have you thought about what you will do in retirement? What about creating a bucket list? Do you want to travel, work with a non-profit, take the grandkids to Disney? Whatever the case may be, you have to make sure your income plan support this bucket plan?
Then, Steve explains the one thing you can do everyday for 30 minutes that can help your financial future.
Call Steve today to setup a complimentary financial review!
Democratic presidential nominee Joe Biden wants to change the way the tax code treats 401(k) contributions. Investing strategist Matthew Sommer tells CNBC that Biden wants to convert the tax deductibility of contributions to a 26% refundable tax credit. It sounds like he's saying this would be good for low-income savers, but bad for everyone else. Is that accurate and – if so – how would you advise clients to respond to this potential change?
Call Steve today for your Complimentary Portfolio Review!
Was 2020 your year to retire? Has the pandemic and market volatility caused you to change your mind? Is it still possible to retire in 2020?
Hear how Steve helps people just like you comb through the many income options and decisions and puts a plan together that works specifically for YOU.
Call Steve today for a Complimentary Portfolio Review! This is a great time to see if you are on the right track on your financial road to retirement!
Steve welcomes teammate Derrick to the show! Derrick talks about what makes Hoyl Financial stand out among other financial advisors, what makes Steve so special as an advisor and how they focus on creating and building a relationship as a foundation with clients. Plus, hear some great client stories !
Is Steve a fit for you? Is Hoyl Financial a fit for you? Find out!
If you have questions, concerns or FEARS about planning for your retirement, call Steve and the team today for your Complimentary Portfolio Review!
It’s probably the most asked question to any financial advisor, “how much money do I need? Is there a magic number?” First, everyone’s situation is different so everyone’s “magic number” will be different. There is no one standard that says once you have saved "X" amount of money you can retire. You actually need various types of income, that's where you hear about saving in different buckets of money. In this episode, Steve discusses those buckets of money, his process and how he treats his clients like family.
Retirement Fun Facts from The Motley Fool:
- The average American retires at age 63.
- The average retirement lasts 18 years, but many last much longer. Plus, who knows what the retirement life expectancy will be by the time you get there? I recommend that you err on the side of caution and plan on a 30-year retirement.
- You'll need $1,060,751 in savings if you expect to draw $5,000 per month for 30 years, assuming 6% annual investment returns and 2% inflation. Depending on how much income you expect from your savings, adjust this amount higher or lower to come up with your retirement "number."
Americans know they won't have enough money, but still won't saveThe vast majority of those in the prime of their careers are aware they have a problem with their retirement savings. They're right.
- The average 50 year old has $42,797 saved. If you look at the retirement "number" from the previous section, it's easy to see that this isn't even close.
- The average net worth (assets minus debts) of a 55-64 year old is $45,447.
- 45% of Americans have saved nothing for retirement, including 40% of Baby Boomers.
- 38% don't actively save for retirement at all.
- 20% of Americans tap into their 401(k) assets early, either through a loan or withdrawal.
- 80% of Americans between the ages of 30 and 54 believe they will not have enough saved for retirement.
What would you be willing to sacrifice in exchange for retiring ten years sooner than planned? According to a new Finance-Buzzsurvey, a third (32%) of Americans would give up shopping for two years. A fourth (26%) would agree to quarantine for an additional six months. And 8% would even give up the family pet! What does it take to be able to retire early?
Then, CNBC says leaving a 401(k) behind at an old job is like putting money in a box under your bed and forgetting that it’s there. But the idea of doing a rollover is a little intimidating to some people. Steve explains his easy and simply way to walking you through the process.
Call Steve Today for your Complimentary Portfolio Review!
A recent study by CreditCards.com found that roughly 13 million people have either a bank account or a credit card that they’re hiding from their spouse. How can having financial secrets hurt our portfolios?
If you have questions, concerns or FEARS about planning for your retirement, call Steve today for your Complimentary Portfolio Review!
The Motley Fool says one of the best ways to get through a recession is to have multiple sources of income. The #1 fear of planning for retirement is running out of money. So, how can you avoid this? If you have a pension, will it be there when you really need it? What other sources of income can you create for yourself NOW to prepare for a better future? Steve talks about his different tools and strategies he uses to make sure clients don't run out of income!
Remember, your retirement plan is NOT cookie cutter. That's why its so important to sit down with Steve and discuss your specific situation. Call Steve Today for your Complimentary Portfolio Review!
For three decades Steve has been helping people JUST LIKE YOU cross that retirement finish line. Let's face it, it can be confusing and overwhelming, but thats where Steve and his team come in. When you work with Steve, its his family, serving your family. Steve is passionate about helping you and your family create that income for life so you can retire with that added peace of mind.
If you're interested in meeting with Steve for a Complimentary Portfolio Review, call Steve today! This is a great opportunity to see where you stand today, what can you do to reach your retirement goals, avoid making financial mistakes that can set you back, and more!
Sometimes, we talk about the “myths” of retirement. And Forbes says one of the most common ones is that we’ll be in a lower tax bracket, when we quit working. That certainly seems to make sense – why would it not be true?
Then, how much weight do you put on your financial decisions based on who is in the White House? How will this upcoming election impact you, your money and your retirement?
If you're interested in meeting with Steve for a Complimentary Portfolio Review, call Steve today! This is a great opportunity to see where you stand today, what can you do to reach your retirement goals, avoid making financial mistakes that can set you back, and more!
Are you working to just pay off your debt? Steve shares his ideas and strategies and how he can help you pay down this debt sooner rather than later, and even retire sooner!
There’s a theory that pops up every so often, suggesting that – with the impending wave of baby boomer retirements – we’ll all be getting out of the stock market at the same time. That, in effect, would drive stock prices lower – which would probably not be good for our nest eggs. Should we be concerned?
Call Steve today for a Complimentary Portfolio Review. Steve can make sure there are no gaps in your income plan, plus, are your accounts being managed in the most tax efficient way possible? Find out today!
One of the drawbacks of a 401(k) is that – when you leave a job – rolling the money into a new account can be a bit of a hassle. You wouldn't believe the number of people that FORGET about their old 401K completely! But CNBC’s Sharon Epperson says there’s a new feature that will eventually simplify that process called auto portability. That sounds great but – there aren’t many places that offer it yet, so for now we're stuck moving it ourself. But, the good news is Steve is here to help! Find out why he doesn't charge to help someone with a rollover, and what he means when he says, "100% of your hard earned money goes to work for you!"
What's a Roth IRA and is it a fit for you? How can it help you be more tax efficient in the future? What if Steve could show you how you could have a tax free income?
Retirement is 75% emotional and 25% about the numbers. Lets figure out what retirement looks like for you - its all about YOU and what's best for YOU and your household.
Call Steve today for a Complimentary Portfolio Review. Steve can make sure there are no gaps in your income plan, plus, are your accounts being managed in the most tax efficient way possible? Find out today!
Even though the markets have been doing well, the overall economy is still struggling. But not everyone agrees with that. Wall Street veteran Jeff Saut thinks the market is going to sky rocket! Who do we believe? Are we headed to another record high, or should we start paying more attention to the amount of risk in our portfolios?
Steve shares his vision of where he thinks we are headed, how to prepare for whatever comes our way with the market and the economy and most importantly, why its crucial to act now, protect your assets and hear how Steve can help you GROW your assets.
If you're interested in meeting with Steve for a Complimentary Portfolio Review, call Steve today! This is a great opportunity to see where you stand today, what can you do to reach your retirement goals, avoid making financial mistakes that can set you back, and more!
Do you have a plan or even starting planning? Steve explains how important it is to start planning TODAY! Then, hear how Steve helps his clients create the income they need to support themselves financially, fulfill their bucket list and be ready for whatever happens in the future.
Did you know the #1 fear of planning for retirement is running out of money? Just like you do during your working years, even in your retirement there has to be some give and take; otherwise you could be in big financial trouble or even run out of money!
Plus, According to Fidelity, retirement savers have been following “generic financial advice,” which is to stay invested in the market and keep contributing to their 401(k)s and IRAs. Is that what we should be doing? Steve weighs in!
Contact Steve today and setup a time for a phone call, a ZOOM meeting or if you feel comfortable, come in the office where we have all safety precautions in motion and are practicing social distancing.
Let's be honest, we're in uncharted territory right now.
There's volatility in the market and some analyst say we are headed towards another bull market (when the market is WAY up) while others are saying we're headed for another recession. Who do we know who to believe? Are we headed towards another 2008?
Find out why Steve says, "it doesn't matter what happens in the market or on Wall Street!" Find out how you can take control of YOUR money, GROW your money and PROTECT your money!
Call Steve today for a complimentary Portfolio Analysis. Get an idea of where you stand today, how much risk are you taking? What can you do differently to make your portfolio stronger? For over 30 years Steve has been helping people just like you!
A Bankrate survey estimates that 31 million Americans have taken – or plan to take – early withdrawals from their retirement accounts. I know that should be a “last resort” kind of move, so what’s your advice for people who are considering it? What about your kids borrowing money from you ALL the time, how can that impact your financial future for retirement?
Call Steve today to setup a complimentary consultation over the phone, ZOOM or in person! Click HERE for details.
Find out how Steve and his team are adjusting to this "new normal" hosting ZOOM meetings with clients. Plus, Steve shares his advice for people on how can they make their money back during this current market volatility. Plus, what are some common concerns people have with their 401Ks?
We all just want to go back to "normal," right? Seems what we are living today is our "new normal." So what can we do to better position ourselves for when the economy goes up and (hopefully) soon fully recovers? Steve explains why his tools and strategies can help you make sure you are in the right position today and tomorrow, no matter what the market is doing. Plus, have you ever heard of the "Rule of 100?" Hear why this strategy can help you manage your risk tolerance. Plus, if you would have known the financial crisis of this health crisis was coming, what would you have done differently?
Steve and his team are back in the office ready for meetings - using social distancing of course and using proper sanitation and cleaning processes. Steve is also available via phone and ZOOM meetings. Call today, start the conversation. You can't help what comes in the future, but you CAN help what happens to you AND your MONEY in the future.
Contact Steve today!
If you're concerned about your 401(k), your money, your retirement, know that you are not alone.
Oil prices are plummeting, the market is struggling and we are all wondering what it will take to get back to "normal."
Steve gives his professional advice for what we can do now to be prepared for a better future, adding that added sleep insurance and protection to your money.
Contact Steve today for a virtual meeting!
Note: Market values may have changed when this podcast was published.
Craig Anderson of KWEL interview Steve about his opinion on the recent market, the financial crisis we could face, what we can do about it and HOW we can protect our money today!
Call Steve today for a virtual appointment!
They’re calling it “the biggest rescue package in history.” The federal government is spending $2 trillion to help overcome the economic damage from the corona virus. I’m not questioning the need for a stimulus … but we should remember that we’re eventually going to have to repay that money, one way or another. And I’m guessing repayment will come in the form of higher taxes, somewhere down the line. What’s that going to mean for our retirement?
Most of us will be receiving a $1200 check, as part of the stimulus package approved by Congress. For those who don’t need that money right away, any recommendations for what they should do with it?
One provision of the new stimulus package waives Required Minimum Distributions for 2020. Waiving RMDs and great news if you don’t need the money but, is there anything we can also do to reduce those RMDs in the future?
Then, its it too late if you were planning to retire in 2020?
The good news is Steve is here to help you and to be a resource during these uncertain times. You can connect with him on the phone and set up a virtual meeting!
There are many things in life we can't control - two of them being, the market and this crazy corona virus. So, what can you do during this time of uncertainty? Steve Hoyl, with over three decades of experience says DON'T PANIC! Find out what Steve says you SHOULD be doing during this time and how you can better position yourself for WHEN the market goes back up.
Plus, with new terms like "social distancing" Steve is offering phone consultations and virtual meetings. You know how you FaceTime your family and friends? These virtual meetings are similar and just as simple!
Contact Steve today - the worst thing you could do right now is nothing. Do something. Look at your accounts, see where you stand, and Steve will walk you though any decisions that need to be made to get you back on the right path.
Over the past few weeks we have seen major volatility in the market, what does that mean for you and your money? What does it mean when Wall Street halts the market? Steve talks about how you capitalize when market going up and when it goes down you will be protected.
If you'd like to schedule a time to talk with Steve and set up a virtual appointment, CLICK HERE !
If we want to have a nice retirement, there are certain steps we need to take to make it happen, right?, Good news: The “Shamrock Shake” is back! McDonald’s offers the green, mint-flavored, milkshake for a limited time each year, right around St. Patrick’s Day. And since it was first introduced in 1970, this is the shake’s 50th anniversary! So, think about this: If you’d bought ten dollars’ worth of McDonald’s food in 1970, it would cost you sixty-seven dollars to buy that same amount of food today! How’s that for inflation? Ever think about how inflation will impact your retirement?
In 1970, we were paying about $118 a year, per person, in out-of-pocket health care costs. Today, that number is more than $4500 a year! What does that tell us about our likely health care expenses in retirement ?
We’re all looking for ways to improve our tax situation and one of the most popular tools for that is the Roth IRA. Unfortunately, income limits mean that not everyone is eligible to contribute to a Roth. Steve explains why some should consider whats called a "backdoor roth."
Why is it so important for you to pay attention to this new Secure Act? Plus, did you know your kids retirement could depend on decisions you make today for your retirement? Steve explains why planning for retirement is 25% numbers and 75% emotions and much more!
Retirement Fun Facts from The Motley Fool:
- 47% have saved less than $25,000 saved for retirement.
- Millions get 90% of their retirement income from SS
- Theirs a $16,728 SS bonus most retirees completely overlook.
Steve shares family memories of the lessons he learned from his Grandmother and the values he learned growing up that he applies to his work today. Steve talks about how life can throw you curves but as long as you have plan in place, you have that plan B available and you are able to tweak your current plan. Is it ever too late to put a plan together? How do you create a plan fighting against inflation or the increase of taxes and healthcare? Plus, what makes Steve different than other financial advisors? Listen now!
Fun fact about Steve Hoyl – he’s a cat lover! Steve shares the simple lessons he learned from his furry friend, Sir Louis Vuitton, the transitions of life, and how preparing and planning your retirement is a team effort. At the end of the day, when it comes to planning your retirement, its 25% numbers and 75% emotion. What does your retirement look like? Have you created that bucket list? Steve also discusses how important it is for everyone to be on the same page and it’s a team effort in putting together the perfect customized plan for you. When the paychecks stop, where is your income coming from? That’s where Steve comes in! What’s retirement look like to you? Call Steve today!
In December of 2019, President Trump signed the new Secure Act into law. The biggest change we are looking at involves stretch IRA’s and some of these changes could impact you and your taxes. Rules, regulations and laws change all the time in the financial world, it’s important to speak with someone who is on top of these changes the moment they happen. Steve Hoyl, of Hoyl Financial has over 30 years of experience. He has helped those retire both during and after a recession, while the market was at all-time highs and all-time lows, and he can help you cross that retirement finish line with flying colors. Call and set up a complimentary consultation today with Steve!
It’s one of the biggest decisions you will event make – finding someone you trust with your life savings preparing for retirement. Steve has over three decades of experience where he has built many relationships with clients, building a partnership as you begin your road to retirement. Have you thought about what you want to do in retirement? What’s on your bucket list? Then, the #1 fear of planning for retirement is running out of money. Coming in at a close second, it’s the price of healthcare. When the paychecks stop and the cost of healthcare continues to rise, how can you keep up while in retirement? Steve can demonstrate his different strategies to help solve those problems and more and show you how your income will work for you in the years to come. Call Steve today and get started!