Epstein & White: Recent Episodes
Epstein & White
In research for the show each week, we come across some really unique and fun information and some that is also timely. Brad came across a survey of 200 financial advisors across the United States conducted by Edward Jones, The survey says that 97% of clients by these 200 advisors are not anticipating surprises when it comes to retirement, and we've had plenty of surprises in the last couple of years and it's shocking that people don't anticipate that there are going to be some hiccups along the way of a 20 or 30 year retirement. Brad gives us his thoughts on the survey.
Well, the age old question might be today, should I trade in an old annuity? I’ve had this for awhile, I don’t know as much about it now as maybe I did then. Sometimes we buy something and a decade later we’re like, why in the heck did I buy that? What about annuities and the talk of maybe exchanging or doing some things to get better interest rates on annuities? Brad offers us some tips.
If you’ve been paying attention you know that interest rates have been on the rise, but Jerome Powell and the fed reserve have raised interest rates on a number of occasions over the last 18 months to two years and are likely to do it ahead this year. But there’s a double-edged sword. Interest rates on the rise? Terrible when you’re borrowing money for a house because you’re going to pay more interest. Maybe a little better if you’re saving money and that’s where Brad fills us in on the latest with interest rates right now.
It’s not often that we start a show talking about financial advisors and what it is that the role in financial advising, especially when it comes to retirement income planning truly is, but today we Brad reminds us exactly what it is and how he can actually help them get not only into but through retirement.
Well, if you're a movie aficionado, the Matrix might be something you've consumed once or twice and of course it's morphed itself over time and sometimes a retirement can feel like that. You're diving in one place and popping out of another and then you don't know where you're heading.
When we get to retirement, all our working career we do the working and we get money for that work. During retirement, we need to make that money do the work while we get to enjoy the fruits of our labor, but there are some principles of retirement planning to always remember.
We know that many of you have had this question on your mind, because Brad has been fielding this question. What is going on with the US Dollar? Brad gives us the latest on todays show.
March is known for madness, but 2023 that madness might mean something else in the banking industry. Brad breaks it down for us in todays show.
What should retirees be happy with when it comes to their money? Should they earn 4%? Should they earn 8%? What should we be happy with when we get to retirement and we have this nest egg of cash? Brad discusses in todays show.
We all have felt the impact of rising interest rates. Last year, the fed raised rates by 50 basis points a number of times. Already this year, they’ve taken a 25 basis points rise to the interest rate. So how does this effect your retirement income plan? Brad dives into this on todays show.
A lot of people are in retirement, heading into retirement or almost retiring and their thinking hmm, what do I do with this money I’ve been saving in my 401k, a TSP or a 403b for all these years? Maybe you worked at one job. So what do you do? Brad helps break it all down for us.
Well, we’re into a new year, but as people often tend to do even when they’re in that first month or six weeks of the year, they’re getting tax stuff ready and looking back on What Just Happened? And for some maybe they retired in 2022. Maybe they’re retirement year is this year in 2023 and we still want to assess what happened and what can I do to fix it moving forward or what can I do to get better from it going forward and 2022, lets face it by stock market assessments it was an ugly year and so what can we learn from it?
Well, we’ve begun a new year and we look back on 2022 and the bar was a little lower than what we thought going into last year. What should we do now to prepare ourselves financially for 2023?
As we wind down the year 2022 and head into 2023, some people might be saying this last year has been not so great. I’m just going to hunker down or I’m going to wait, well is that the right strategy? If you have zero advice it could be the wrong strategy for you. I don’t know how you could ever know if it’s the right decision if you don’t ask someone who does this for a living like Brad does and he offers tips as we head into 2023.
Putting together a checklist anytime is not a bad thing at all, but when it comes to ending one year and beginning another a checklist can be very key.
We’re winding down the year 2022 and we want to talk about some of the lessons we’ve learned from this year because we certainly know that you all have learned plenty of lessons this year. One that rises to the top would be Interest Rates. What did we learn about our economy, the fed and interest rate hikes and truly cooling inflation? Brad discusses in todays show.
Since 1950, all 18 midterm elections have been followed by an up year for the stocks. The stock market says, this is what we tend to do when it comes to elections at the midterm.
The text book definition of a recession would be a fall in the GDP over two consecutive quarters. So by the text book we should be in a recession right now, but economists have been back and forth on this and Brad has met with many clients about all of this and everybody wants to know, are we in a recession? Do we still have more to wait on? What’s coming? People still live with a little bit of fear about recessions.
As we head towards the final quarter of the year and we head towards a new year in 2023, we know that markets are still up and down, inflation is still there, we know that social security has been raised. The cost of living increase next year will be 8.7%. What if my retirement date is in the next 12 months? You’ve planned it in your mind, but what about retiring when the economy is all over the place right not? Brad answers those questions for us in today’s show.
Risk is uncertainty about lifetime consumption. Long story short, you should know how to define risk. Is it the likelihood something can lose money? Is it how much it can possibly go down? Or is it just volatility along the way? Brad explains in todays show!
Over the past 6 months the US created an average of 381k jobs per month compared to pre pandemic pace of less than 200k. This is a good thing because as the fed raises rates hoping to cool the economy down and therefore inflation, this provides a cushion for them to do so without the economy falling into full recession or anything like that.
The benchmark S&P 500 Index’s recent rebound has brought it more than halfway back from its 2022 low point in mid-June, which is an encouraging sign for many investors. It’s certainly one of the most statistically reliable signals in the stock market. But does that mean it’s safe to get back into stocks?
Let’s say you have a rental property that you bought a while ago. In San Diego that means you have HUGE gains in that house, and if you ever sell it will be a capital nightmare. Brad offers some tips on how you could potentially get rid of the tax.
Long story short is you could be earning more than 4% completely guaranteed on your money right now. Brad explains in todays episode.
On June 15th, the fed voted to raise 75 bps for July, first time since November 1994. What happened with the market then and what could we expect this time?
What does it mean to have a retirement plan done? It simply means you say “id like to be able to live off of x amount of money in order to do all of the things I like to do.
For 13 years we had an accommodative monetary policy, we went into the worst recession since great depression, the worst stock market decline since then and now we’re in a totally different environment with inflation the highest in 40 years.
For those that go “well the market is down 13% first four months to the year, and were hearing now we could be entering a recession and having more inflation – so we haven’t even seen that part yet!” - this is why the term leading indicator is so important to note.
The Fed’s efforts to tame inflation by raising interest rates will most likely dampen economic growth.
Brad discusses 5 questions that every retiree should be asking!
All the headlines talking about a possible US recession on the horizon..... what does this mean for your investments and retirement plan? On todays show, Brad reviews basic facts at a very high level. Economies and Markets are of course very connected – but they don’t move in lockstep with each other at all. The market, is a leading indicator for the economy. The market reacts today based on what it THINKS the economy will do in the future.
On March 16 the Fed approved a .25% rate hike, which was the first time this has happened since 2018. Also, the indication is that they will do the same all 6 coming meetings remaining in 2022 – we had an inflation reading of 6.1% in January! US inflation hit a 40-year high of 7.9% in February!
The market immediately assuming this is bad for oil supply and prices increasing as response.
The house gets zero excitement, gets zero thrills, and gets nothing in the short term. The saying “money won is sweeter then money earned” is true. however, its just not profitable. the house builds in actual math that over the long term wins small amounts of money consistently and ultimately builds really huge expensive buildings and big wallets.
You have crypto.com arena now, you saw all of the superbowl ads, Matt Damon commercials, etc. so id like to tell a little story.
Okay, so since 2008 we have been reasoning with our monetary policy – that means an economy went into recession, so we lowered interest rates and pumped money in the system because that helps an economy move forward.
New research suggests that if you aren’t an average investor—and most people aren’t—the one-size-fits-all approach isn’t the way to go
Congratulations year 2021, between 2020 and you the bar has been set at an all time low! so first resolution is no new global pandemics and were off to a good start!
What's going on with inflation? What's causing it and just how bad could it get? Brad has the answers on this week's episode. Plus, healthcare is a major concern for retirees and Brad covers ways to address it. All that and much, much more on Retire Right with Epstein and White!
You’ve heard of Generation X and Gen Z … but Generation U? This week Brad explain who makes up Generation U and what they need to think about in terms of their retirement plan. Plus, ‘tis the season for charitable giving and Brad has plenty of tips for how to make smart charitable contributions.
Not updating your beneficiary information, failing to have a durable power of attorney, not having a plan for long-term care … these things can become a financial horror story if they aren’t addressed in your financial plan. Don’t miss this weekend’s episode of Retire Right with Epstein and White!
In real estate, it’s all about location, location, location. In retirement, the big idea is income, income, income. But how do you create an income plan when you don’t know how long you’ll live, what taxes will look like, what inflation will be, and what surprise expenses will pop up? Brad has the answers for us. Plus, we’ll cover the basics of estate and legacy planning, and how to approach planning for long-term care.
Brad gives us an outline of what to expect on all the tax increases that are up for debate in Congress, and some strategies to consider to protect your savings from higher taxes in the future. If you’re wondering if you’ve saved enough for retirement, you might be surprised to know the size of the average nest egg. Brad shares the truth about how much people are saving and what that number really means.
Social Security is always something that Epstein and White have spent a lot of time on as it relates to educating people making sure they know what's going on with their benefits, but with the program in general, Brad talks a little bit about what's going on with Social Security right now because of the pandemic and some of the changes we might be seeing here in the future.
You’ve worked hard for your money for years, but when you get to retirement, that’s when the tables turn and your money works hard for you. So it’s important that you make the most out of what you have, so you are getting the most out of those dollars you worked so hard to save. Plus, Brad explains what happens when you shift from saving for retirement to focusing on preserving and protecting your assets, and what we can expect with increases in Social Security payments in the near future.
The U.S. Supreme Court has reaffirmed that both income and transfer tax (e.g., estate and gift taxes) changes may be implemented retroactively, "Provided that the retroactive application of a statute is supported by a legitimate legislative purpose furthered by rational means..."
How do we know if we're making the right decisions heading into retirement? Am I on track? Am I buying high? Am I following a trend?
We talk all the time on this show about plans, but do we really know how a retirement plan actually works? Brad offers us some tips for planning a retirement.
Dalbar released a study recently showing that people had better emotional reactions using a variable annuity. Brad discusses the pros and cons of a variable annuity.
There is just something about that real life experience when it comes to some of these significant things that we've seen lately.
Just about everybody has a smart phone so you can't ever get away from the pop-up ads, the social media ads. You hear things on TV, you read headlines...so much financial advertising is out there and today, Brad sifts through some of this information and find out what we really need to take away from some of these financial ads.
Most people are so focused on how they want to be growing up their savings for retirement...building up the balance in their 401k, but building up that balance is probably not the focus anymore for retirement and certainly not the way to be getting income.
We have adapted to the changes that we've experienced over the past 12 months and the way we've handled things and the level of complexity when it comes to how we interact with each other, but in general it seems like things just keep getting more and more complicated. Nothing is getting easier when it comes to things like investments and taxes.
For most retirees who don't want to have all of their money in aggressive portfolios who can't have too much of their money in things like CD's, cash or bonds. What could be an alternative for safely growing your money? Brad talks about three types of annuities!
What can happen if we feel too positive or too over confident when it comes to managing our money and handling these decisions ourselves. Is that something that we want to be a little bit mindful of? Maybe being too over confident if we're trying to manage our own money? Should we even be managing our own money? Plus, The Medicare Man, Steve Lujan stops by to talk Medicare!
When you plan for retirement, you need to consider all the risks your money may face… Because if you don’t take steps to help protect your money from risk, your retirement could be at risk.
There are a lot of headlines and little snippets of advice that get thrown out there so much that we start to just blindly follow them or take them at face value and the reality is it's not quite as simple as all that and that's why we talk about the need for customized advice rather than some of these blanket statements. Brad does a little Mythbusting on the show today!
Jeff Lavender is an expert at travel and is an official travel partner of Epstein and White. He's been helping people travel and travel right for over 30 years. So now all of our clients with their travel dreams in retirement, we can not only help them with the finances to go make those plans we can send them to Jeff to help them design and make these dreams come to reality.
How our behavior as investors can trip us up, we get in our own way. It's one thing to be mindful of our own behavior, but we also can't control the behavior of others and that's the other human element of all these things.
Just what does change when you get into retirement that makes you need to think differently about how your managing your money and managing your portfolio? Brad offers his tips in todays show!
2021 is here and we want to make sure that we understand whats going on in the world of taxes and the world of the markets. Brad talks about some of the challenges and some of the good and some of the bad of investing when we have the markets at all time highs.
With a new year upon us, how do we set ourselves up for success rather than failure when it comes to some of our goals.
When we were growing up, we heard about Santa’s Naughty or Nice list. Santa would write your name deciding if you’ve been Naughty or Nice. And admit it. Your behavior improved as the calendar got closer to Christmas. So on today's show, Brad White is our Retirement Santa. What retirement scenarios could fall under Naughty or Nice? Let’s find out…
2021 will be here before you know it … that’s when Congress will be back in session and by then we’ll have more answers on the final makeup of Congress. So, will Washington be in a gridlock or will we see any changes that could impact your retirement?
Why did the market rally right after the election? As it became clear that Biden was going to win, but the Republicans were going to hold the senate, that created a bit of a best of both potential worlds for the market and Brad explains why!
By the time it’s all said and done, an estimated 4 MILLION older workers between the ages of 58 and 65 will have left the workforce this fall. If the pandemic and all the turmoil that’s changed the world this year has you on retirement’s doorstep, now what?
When it comes to the government’s response to COVID, are the relief packages too little? Too much? It’s still hard to say. And don’t forget that when it comes to some of these temporary changes in the rules for your retirement accounts … there are important considerations you need to be aware of.
Many people are facing a situation they haven’t had to deal with in a long time: an economic downturn. And they need help navigating it. An economic downturn is hard enough without making it even worse by falling into common traps in the way you spend, invest and save.
We’re nearing the end of the third quarter of 2020 and most of us are over it. Can we just go ahead and move on to 2021 already? We’ll share some ideas about how 2021 could play out and much, much more on the show today.
The countdown is on to the 2020 election and as we get closer to election day, people are starting to have questions about what will happen with our economy with either the re-election of President Trump or a President Biden in the White House. Either way, we have a lot of uncertainty right now.
We know a lot you have questions about the market, and how your money is doing with everything that’s been going on. So today you’ll hear a lot about Epstein & White's Retirement Income Master Planning Process and how it could help you get some answers.
Oh, to live a life of luxury without a care in the world. Wouldn’t it be nice to live the Lifestyles of the Rich and Famous? But is it all really champagne wishes and caviar dreams? And what can we learn from those who went from riches to rags?
Does the thought of outliving your savings keep you up at night? You're not alone! The fear of outliving retirement savings is one of the biggest concerns for many many retirees. Brad White shares some ways to help address some of the biggest money concerns that people have in retirement.
A phone call or website can seem so impersonal. Or worse, it could be a financial scam. At least, those are possible thoughts one may have before they visit someone to handle their finances in retirement. It can be a scary thought to go out there and do something new. So, to help provide more confidence to face the unknown, this show will focus on what the process is like for a potential new client first meeting with a financial professional and what this meeting and process may entail.
If you are retiring soon or recently retired, it’s time to shift the fundamental reasoning for how you invest your dollars. Moving from your working career and “paycheck” mode into retirement and “distribution” mode is a serious deal. You might not realize it right away, but when you go from adding to your portfolio and retirement nest egg to taking from it regularly for retirement income, the impact can be felt suddenly. It’s normal to have some hesitancy when it comes to transitioning your investments to coincide with this new phase of your life. Up until now, you have been investing for two primary reasons, to save money and to grow money. Now it’s time to shift that mentality into keeping as much of your money while you spend it. When we think about retirement and what you need to focus on with your money, four things often come to mind, and we think that everyone in retirement needs at least these four things in their plan in varying levels – Protection, Liquidity, Growth Potential, and Income.
If the year 2020 has taught us anything, it’s that income is critical. There are all sorts of ways to make money and earn a living while you’re working. But when you’re retired, the choices are different. Today’s show is all about what you should know about creating income in retirement.
You visit your doctor every year for your annual check-up to stay healthy and to be aware of any potential issues when it comes to your health. Why should your financial health be any different? That only multiplies in importance once you get in retirement, because you’re no longer earning a paycheck. This show examines what you need to be aware of to be cognizant of your financial health in pre-retirement and retirement.
First, it was the SECURE Act that passed at the end of 2019. Then the Coronavirus happened sending the markets and the economy into a tailspin. We may be only talking about a couple of months here but planning for retirement has changed because of recent events. So, what will be the new normal? We’re less concerned about a new status quo and more concerned that your retirement plan is designed to withstand any challenge in retirement.
Preparing for retirement is discussed so often, that sometimes we can neglect the instances where retirement is suddenly thrust on someone because of unforeseen complications, like a health-related problem. This show dives into that scenario and what can be done to help ensure a comfortable retirement for the retiree. It also discusses the inverse of that scenario, the person who doesn’t want to retire. Either way, important information is doled out to help you plan for a happy and comfortable life, whether you decide to retire or not.
When times get tough, it’s easy to get overwhelmed by feelings of doubt. But is that really the best way to succeed? Today we’ll talk about how you can make a shift to focus on the silver lining in the darkest of days, and how to identify opportunities for success in challenging times.
It seems we are navigating unchartered waters in today's economy. Big market drops, school and business closings and cancellations all over the country all in this digital age of social media and the 24/7 news cycle, so what we hope to accomplish in this show is take some time to focus on what we can control in a world of chaos.
When people think about a market crash, their mind immediately goes back to 2008. Truthfully, though, markets have been volatile more recently, and the impact it can have on a retirement plan can’t be ignored. Think back for a second to August and then again to October. Trade and tariff wars, major slowdowns in the economies of Germany and China, the prospect of further actions by the Federal Reserve all contributed their fair share to at least the perception of the market roller coaster action. Yet, no matter the year, no one can really tell when we’re in a bull market or bear market until we’re already well entrenched. So how are investors to cope with this possibly unsettling information? Working with a financial advisor, we believe those who are in an accumulation stage of life should continue to invest with patience and calm, keeping in mind that what comes down usually goes back up. However, for those in or nearing retirement, who may not have the time to wait for the downs to go up, they may want to consider additional strategies to help reduce the risk of stock market volatility.
Jen and Brad sit down to discuss about the volatility we have seen and it's something that unfortunately can make us a little bit uncomfortable especially where we are in life.
You work hard for your money, so make it work for you. You don’t want it to be the other way around, where you’re being controlled by your impulses and sometimes bad habits. Learn these helpful money practices to not only get you to retirement, but through it as well.
The SECURE Act was signed into law by President Trump in December 2019. The legislation, backed with bipartisan support, changes retirement rules for many Americans, some good and some not so good. But knowledge is the key to understanding it. So, we’ll discuss what changes retirees or pre-retirees need to know to help them make the best decisions for themselves going forward. We’ll discuss the age change to RMDs, how the law affects small businesses, how it impacts the Stretch IRA strategy and more.
Dave and Brad welcome CEO and founder of the Warrior Foundation, Sandy Lehmkuhler and President of the Warrior Foundation, Colonel Greg Martin to the show to talk about the Warrior Foundation Freedom Station. They will also be joined later in the show by a couple of special guests from this organization who tell their stories.
There are so many big questions people have about what to do right now when it comes to investing their retirement savings. We're talking about our life savings. There are a lot of external factors that we need to be thinking about and needing to be aware of. Dave and Brad offer some advice.
How could the financial moves a person makes before the end of the year help them get closer to the retirement they envision? This show details financial moves to consider before year’s end to help get listeners closer to a financially confident retirement — strategies that can not only boost savings, but help to lower taxes and help protect assets as well. Keeping more in your pocket for retirement is a goal that never goes out of season, and these key financial moves can help people accomplish just that.
Retirement is one of the most important life stages a person will go through, and with people living longer, the need to properly plan for retirement is critical. This can be a daunting undertaking. In this show, we’ll look at some key points that can help get you on the right track to planning a successful retirement.
Americans say the optimal age for retirement is 61. Financial professionals say it’s more like 63. Whatever the case, the reality is that people are actually retiring at a more advanced age. But what about those who prefer to buck the trend — people who find the idea of retiring earlier highly appealing? This show explores the pros and cons of retiring earlier, sets out the financial factors people need to weigh to determine if they’re a viable candidate for early retirement, and details the steps they likely will need to take in order to make it happen.
You are the captain of your own retirement and just as much as a captain of a ship does, you make the decisions for the direction you choose, navigate the storms that will come your way and anything else that may happen while you’re adrift. But a captain always has someone by his side to shoot ideas off of, offer alternatives and should something happen to the captain, finish the voyage that the captain started. Similarly, the captain needs to make sure to complete a checklist before retiring, consider all the potential risks you may encounter when you’re no longer earning a paycheck and have back-up plans for many scenarios.
What if I don’t have enough income to retire? What if I run out of money before I run out of life? What if I’m taking too much risk with my accounts? What if I forgot about the taxes I’ll have to pay in retirement? What if something happens to me and I’m no longer able to make decisions? These are questions all potential soon-to-be retirees should ask now, before they’re potentially hit with the question, “What now?” Because planning ahead can help make for the best scenario. From there, you can consider alternatives or changes to the plan. But what’s important is that you have the plan to begin with, and you’re addressing these questions now, rather than later.
It happens every year – orange cones and construction zones blocking your way, forcing you to change your route, and making you want to pull your hair out. How long will these projects last and why can’t they plan better? You don’t want that same confusion and chaos for your retirement. Today’s show outlines signs to help you decide if you’re ready to retire, and what steps you should take if you are.
You visit your doctor every year for your annual check-up to stay healthy and to be aware of any potential issues when it comes to your health. Why should your financial health be any different? That only multiplies in importance once you get in retirement, because you’re no longer earning a paycheck. This show examines what you need to be aware of to be cognizant of your financial health in pre-retirement and retirement.
Think about all the ad slogans you’ve heard over the years and I’m guessing you can name at least 5 of them. You recognize all these slogans because they’re simple. And their marketing is so effective that you can picture the logos of these companies and hear that catchy jingle in your head. Because simple sells. But that’s a trap when it comes to retirement, because retirement can be complicated and multi-faceted. Your retirement shouldn’t have to hinge on a catchy jingle and effective phrase. A retirement planner should be focused on developing a relationship for success, not just trying to sell you something. Don’t fall for the convenience of getting a cookie-cutter plan that’s just like the plan your neighbor has.
Preparing for retirement is discussed so often, that sometimes we can neglect the instances where retirement is suddenly thrust on someone because of unforeseen complications, like a health-related problem. This show dives into that scenario and what can be done to help ensure a comfortable retirement for the retiree. It also discusses the inverse of that scenario, the person who doesn’t want to retire. Either way, important information is doled out to help you plan for a happy and comfortable life, whether you decide to retire or not.
“Women and investing” is a hot topic in the financial industry. And for good reason. More women than ever are participating in the stock market and their percentage of wealth in the U.S. is growing. And yet women still face several challenges when it comes to securing their own retirement. This show explores the financial challenges women face, whether they are single, married or widowed, and outlines some thoughtful, thorough planning steps designed to enable her to retire with confidence.
Investments are the engine of a financial plan. Do people really understand what their expectations should be when it comes to their investments? David and Brad explain in todays show.
A phone call or website can seem so impersonal. And worse, it could be a scam. At least, those are possible thoughts one may have before they visit someone to handle their finances in retirement. It’s a scary thought to go out there and do something new. So, to help provide more confidence to face the unknown, this show will focus on what the process is like for a potential new client first meeting with a financial professional and what this meeting and process may entail.
Follow the plan. It’s the single most important document you’ll have in retirement, because without it, you’re wandering aimlessly. But a plan is more than a 5-step, 10-step or etc. process. Your retirement plan should have subsections for each plan, to potentially prepare yourself for unseen scenarios that may pop up. And most likely, these unforeseen scenarios will pop up. But again, that’s why it helps to follow the plan, so that you can enjoy your retirement and not have to fret about what happens, because guess what? You have a plan. This show will dive further into what to plan for and how to plan ahead so that no surprises will ruin your time in retirement.
It’s hard to discuss life and death matters with your family, because any loss in family is just too hard to even think about. But not discussing these matters can also bring pain, and sometimes, hardships. Should something happen to you – and especially if you’re the breadwinner – you need to plan ahead not just for your sake, but for the sake of your family. You need to discuss a variety of topics in certain scenarios to make sure you not only hold on to your dignity, but to give the autonomy to your family, and not the government or the courts. In this show, we’ll discuss what needs to be discussed, with whom and the proactive steps you and your family should take to help ensure the family’s legacy stays intact.
Nationally recognized author, Marty Ruby joins the show today. He's from Louisville, Kentucky, he is an actuary and a seasoned financial industry executive with decades of experience.
We’ve all heard that we need to save for retirement. But the end goal seems more elusive today than ever. Is there a way to save that will actually have a larger positive impact on the retirement bottom line? Are there certain financial building blocks that, when put in place now, will help create a retirement portfolio designed to last as long as you do? Today’s show details some of the fundamental, foundational steps people can take to put themselves on solid footing for a fulfilling retirement.
The 401(k) was originally meant to supplement pensions and Social Security, but with employer pensions becoming rarer these days and ongoing debates about the future of Social Security benefits, where does the 401(k) fit in today’s retirement? In this show, we’ll discuss ways to help ensure you optimize your 401(k) benefit to strengthen your retirement plan and some common mistakes to avoid when it comes to contributing to your 401(k).
If you are retiring soon or recently retired, it’s time to shift the fundamental reasoning for how you invest your dollars. Moving from your working career and “paycheck” mode into retirement and “distribution” mode is a serious deal. You might not realize it right away, but when you go from adding to your portfolio and retirement nest egg to taking from it regularly for retirement income, the impact can be felt suddenly. It’s normal to have some hesitancy when it comes to transitioning your investments to coincide with this new phase of your life. Up until now, you have been investing for two primary reasons, to save money and to grow money. Now it’s time to shift that mentality into keeping as much of your money while you spend it. When we think about retirement and what you need to focus on with your money, four things often come to mind, and we think that everyone in retirement needs at least these four things in their plan in varying levels – Protection, Liquidity, Growth Potential, and Income.
You must find a way to maximize your income in retirement and there are a lot of ways you can do it. Dave and Brad have a Public Service Announcement to share with you in today's show!
The month of March brings us one of the greatest sporting events, the NCAA March Madness tournament. And whether you watch much college basketball or not, many still fill out brackets at the office or with friends. It’s become a social norm that happens every year. You may have a team you support, or you may not. But when trying to decide who wins it all, you ask yourself, “Do they have all the right pieces to go all the way and win the national championship?” You think of the talent the team has, perhaps if they’re road-worthy warriors, you think of their record, their strategy or if they have the right coach. Well, if you had to put a retirement plan together, what are the required pieces you think are necessary to help ensure it can go the distance? That’s what this show will try to answer.
Sometimes the little things can add up. Seemingly small decisions can make a big impact over time, but when we talk about planning for retirement, we really want to make sure we make the right decisions leading up to retirement.
So many people look at their investments through Rose Colored Glasses and think their returns will be a little bit better than what they might actually be down the road. Dave and Brad clear this up for us.
This show addresses one of the most common retirement planning questions: “Am I on track to retire?” The show speaks to the importance of defining one’s financial needs and objectives. It also asks the question: “How much should we have saved for retirement?” The Lifestyle segment dives into the age-old Battle of the Sexes.
When you look at your finances do you wonder if you are truly prepared for retirement? Unfortunately, just having a 401(k) and collecting Social Security may not cut it for many of us anymore. But is there a key retirement piece you might be overlooking? We’ll address that big question on today’s show by posing — then answering — four other key questions: 1) How many sources of retirement income will you have? 2) When do you plan to start drawing Social Security benefits? 3) What is your plan to pay for excess health and/or long-term care expenses? 4) What is your inflation hedge plan?
David and Brad welcome Sandy Lehmkuhler and Junior Rodriguez from the Warrior Foundation Freedom Station in San Diego on the show.
Retirement can account for two, three or more decades of a person’s life. As such, retirement can be broken up into three stages – the early active years, a transition period and then the final years. Stages that come with its own unique risks that can easily derail many retirement dreams. Unless of course these risks are accounted for and addressed ahead of time with well-thought-out, straightforward strategies that protect the assets as well as loved ones. This show delves into the unique challenges and opportunities that each of the three stages of retirement presents, with time-tested strategies for how to prepare for them in advance.
Living to the ripe old age of 100 isn’t as farfetched as it used to be. And as the likelihood of living that long increases, so, too, does the risk of outliving your money. It’s called longevity risk, and it’s not something to mess with as retirement approaches. This show details some of the steps people can take today to extend the life of their assets for all those tomorrows that may lie ahead, including suggestions for managing and stretching Social Security benefits, investments, retirement accounts and more, just in case they do live to see triple digits.
Even though the newness of the new year is starting to wear away, you still have time to get some thing accomplished. Dave and Brad fill us in on how we can capture that motivation that we have early in the year and really help that carry us through so we accomplish some things in the year 2019.
Happy New Year! And we know what that means… All of a sudden, your gym will get flooded with new members who are committing to a New Year’s resolution: Get in shape. But we know as much as anyone that by the time February hits, that resolution will be forgotten by then. It goes resolution, forget resolution. Rinse. Repeat. It’s almost like clockwork. But then there are still those few who stick with it and over time, see the results their commitment has made. Well, planning for retirement and financial fitness is no different. In the next hour or so, we go over some resolutions to help you better prepare yourself for retirement.
Gone are the days when most working people had a pension income waiting for them once they retired — regular payments that were guaranteed to last as long as people needed them to. This show provides pre-retirees who lack a true pension a series of straightforward steps to build lifetime retirement income for themselves by coordinating a range of different sources, including retirement plan assets, Social Security benefits, money parked in bank accounts, real estate holdings, the equity in their home, even an annuity. So even without an employer-provided pension plan, people still can enter retirement knowing they will have enough income for as long as they need it.
Dave & Brad welcome Dr. Donald Kearns, the President of Rady Children's Hospital to the show.
No one likes to pay more than they have to. And thanks to the internet, do-it-yourself, step-by-step, how-to instructions for just about anything are at a person’s fingertips. But what about retirement? Sure, there’s plenty a person can do on their own to prepare, but there are certain areas where some professional, personal advice can potentially mean the difference between financial confidence and financial instability. This show explores four areas and explains to listeners the kind of advice they’re apt to receive in each, and why that advice can be valuable to people heading toward the next phase of life, or already there.
As strong as the stock market has performed for much of the last decade, a recent stretch of volatile behavior provided a powerful reminder that what goes up must eventually come down. Whether the next big stock market slump is weeks away or years away, it’s vital that people take steps in advance to ensure their assets are positioned for when the next bear market hits. This show provides listeners with steps to “prepare for the bear” — seven suggestions, from asset diversification to stress testing to annuitizing a portion of their retirement assets, that can help minimize the damage a bear market causes, so they remain on track financially throughout retirement, even when the stock market takes a sharp turn south.
To build a solid financial foundation for retirement, people must make certain assumptions — about their investments, their longevity, their expenses, their income needs and more. The challenge for those heading toward retirement is to make sure the assumptions they make are well supported and applied the right way for their unique situation, lest they put their financial future at risk. This show provides listeners with financial assumptions to address as retirement approaches, with insights on why each is important and how to properly incorporate them into a broader financial strategy.
In lieu of crystal balls, many people like to make plans for the future. A trip to Europe over the summer, a kitchen remodel in the fall, a dinner date with a long-time friend next week. But what about your retirement? Let alone the funds to pay for it? What plans have you made for that endeavor? An endeavor that will last two decades or more for most of us. This show provides straightforward planning strategies to address five common events that have the potential to disrupt or derail just about any retirement portfolio if left unaccounted for.
Gone are the days when most working people had a pension income waiting for them once they retired — regular payments that were guaranteed to last as long as people needed them to. This show provides pre-retirees who lack a true pension a series of straightforward steps to build lifetime retirement income for themselves by coordinating a range of different sources, including retirement plan assets, Social Security benefits, money parked in bank accounts, real estate holdings, the equity in their home, even an annuity. So even without an employer-provided pension plan, people still can enter retirement knowing they will have enough income for as long as they need it.
The financial transition from work to retirement can be a rocky one, especially for people who haven’t taken the proper steps to prepare. This show provides listeners with a series of six steps they can take to make that transition a smooth one — steps involving Social Security benefits, asset allocation, protection from high healthcare costs, retirement expense projections and retirement income management. By taking these steps sooner rather than later, they’ll not only improve their chances of successfully transitioning to the next stage of life, they also will likely put themselves in a much better position for a financially stable retirement.
Saving for retirement is one thing. Doing so in a way that provides growth and protects the assets can be quite another. This show lays out eight of the most common retirement money mistakes people can make, then gives listeners straightforward, effective strategies to address each of them, so they focus more on making plans and fulfilling them, not worrying if their money will last as long as they need it to.
Saving for retirement is a big, ongoing commitment. But regardless of how much you have saved for retirement or what your retirement date is, have you incorporated strategies to cover healthcare costs? Do you have an estimate of what those costs might be? If not, you may not be as prepared for retirement as you thought. This show provides listeners with key strategies that are flexible yet straightforward to help meet the changing circumstances of any stage in life, including retirement.
After a quiet, steady and sometimes spectacular bull market in 2017, stock market volatility reared its head again during the first quarter of 2018, raising investors’ anxiety levels and conjuring unpleasant memories of the Great Recession. This show is geared to help spare pre-retirees and retirees the gut-wrenching ride on the stock market rollercoaster by providing them with five financial fundamentals to help protect their assets from volatility — from managing assets to managing income streams to managing mindset, simple approaches listeners can put to work starting today to keep calm and carry on, even when the stock market is behaving unpredictably.
Setting a retirement start date is like pulling the trigger and trying to hit a moving target all rolled into one. Once set, the nagging question for many pre-retirees and retirees alike is, “Did I make the right call on when to retire?” To answer, this show provides a practical assessment of common goals, needs, assets and risks tied to retirement. This assessment will help listeners build flexibility into a sound retirement strategy geared toward supporting that next phase in life.
Am I getting good financial advice for the transition to retirement? It’s a question people must ask themselves, because off-target advice could have negative consequences that reverberate throughout the remainder of their lives. This show provides listeners with the means to obtain a second opinion on the financial guidance they’re getting in advance of retirement, giving them a checklist of seven factors they need to weigh to assess the quality of that guidance, so they can make changes if necessary and find a retirement pathway that connects their assets with their goals.
With the benefit of hindsight, what do retirees wish they had done differently in preparing financially for retirement? This show provides an opportunity for people headed toward retirement to benefit from the lessons learned by the people who came before them. The show walks listeners through 10 things that retirees would do differently leading up to retirement, if they had the chance, then gives them ideas for how to apply those lessons to their own financial lives as they transition to retirement.
It’s a big commitment to set aside money for retirement. One that requires regular attention. And while you may have been saving a healthy percentage of your income over the last couple decades, what have you done to protect those savings from the “What if’s”? What if interest rates and inflation climb? What if you or your spouse get really sick? What-if’s like this can cloud a person’s retirement outlook — unless they can find answers to those questions in advance. This show discusses eight “what if’s” that can weigh heavily on a retirement financial outlook, then walks listeners through effective strategies to help bring much-needed certainty to an otherwise cloudy future.
While Americans generally are retiring later in life, what about the sizable portion of the population that actually would prefer to retire sooner rather than later? This show provides listeners with nine simple steps they can take to position themselves to retire earlier, if that’s the route they want to take — practical and meaningful adjustments they can make today to their investment approach, to their retirement accounts, and to their current spending and saving habits, to bring the next stage of life closer to reality.
Assets are the one thing people need in order to realize their vision of retirement, whatever that vision happens to include. This show looks at 10 of the most important assets people can carry with them into retirement, some tangible and some intangible, and offers listeners proven strategies for maximizing each of those assets.
Most people consider longevity to be one of the biggest threats to a retirement portfolio. The risk that the portfolio won’t have the legs to last as long as you do. But what many of us don’t know is what to do about it. That is, how to protect a portfolio against not lasting through all the retirement years, which is looming on the horizon for many baby boomers. This show breaks down that major threat of longevity into five scalable threats such as taxes and health care, then accompanies those with strategies for managing each — strategies to not only protect retirement assets but help them grow and last as long as they’re needed.
In construction, the key to a sturdy, long-lasting house is the foundation. The same goes for people seeking to build a solid financial house for retirement: It all starts with a sturdy foundation. This show details the eight pillars — assets, income, protective features and more — that go into building a financial house for retirement that’s not just comfortable to live in but designed to withstand the elements, as changeable and unpredictable as they can be.
Hacks are better ways of doing things: bypasses, shortcuts and other simple but smart “why-didn’t-I-think-of-that!” types of maneuvers people can use to their benefit. This show provides retirees and pre-retirees with 12 financial hacks to help better position them for the next phase of life — a dozen financially impactful ways to “hack” their lives, with explanations for how to go about taking advantage of them.
Every other day it seems like there are new ways to help us stay healthy: practicing yoga, taking fish oil or turmeric supplements, solving Sudoku puzzles, the list goes on. And as we get older, and perhaps face a couple more wrinkles or aches and pains, many of us tend to pay more attention to these tips in an effort to maintain and even strengthen our overall physical wellness. But what about our financial wellness? Have you looked at your cash flow lately? How about your assets? Are they strong enough to last as long as you do? Today on the show we’ll look into doing just that. We’ll get into some simple steps people can take to first assess the health of their finances then to strengthen their personal finance balance sheets. This will include how to boost savings now as well as cover health care costs down the road. So that even when setbacks pop up in retirement years, they’ll know their financial balance sheet has their backs.
Deciding to retire is one of the biggest steps a person will take in their lifetime. When one part of you is saying, “It’s time,” it’s important to pause and ask, “Am I in a good financial place to retire?” This show will help listeners answer that question for themselves by providing them with eight things they absolutely must know — about the biggest retirement risks, about their income situation, about their assets and how they’re positioned, and more — before they can say with conviction that now is the right time to put the retirement wheels in motion.
Most people get excited when they think about retirement. The time to pursue hobbies, travel, to slow down and smell the roses. But with that next phase in life can come the worry of how to pay for it. The question of whether the investment decisions being made now are the right ones. Will the savings be enough? How to cover the moving targets of healthcare costs? And taxes. These are questions that can undermine anyone’s confidence in their portfolio. Today, to help boost that confidence in retirement savings, we will look at four strategies. Strategies that explore retirement expenses and ways to address them. Strategies designed to help protect savings against risks, known and otherwise, while allowing them to grow and provide the income needed for a long-lasting retirement.
The information buried in the fine print of the investment prospectuses, financial statements and other documents people get in the mail may be telling quite a compelling — and overlooked — story. It’s a story about the fees, commissions and costs that could be chipping away, year after year, at the money people will be relying on during retirement, potentially costing them tens of thousands, or more, over the long run. This show explains what those often-hidden factors are and how to keep them from eroding the assets people work so hard to build for retirement.
Saving for retirement is one thing. But figuring how or where to invest that money can be quite another. Do you invest for growth or for income? That is, generally speaking, do you invest in stocks or bonds? For most people, historically the answer has come down to where they are relative to retirement: If before retirement, they invest for growth in stocks. If in retirement, they invest for income in bonds. Today’s show takes people beyond that traditional — and perhaps outdated — approach, examining a more evolved strategy in which people could pursue a mix of growth and income to help their portfolio last as long as they do in retirement.
Every other day it seems like there are new ways to help us stay healthy: practicing yoga, taking fish oil or turmeric supplements, solving Sudoku puzzles, the list goes on. And as we get older - and perhaps face a couple more wrinkles or aches and pains - many of us tend to pay more attention to these tips in an effort to maintain and even strengthen our overall physical wellness. But what about our financial wellness? Have you looked at your cash flow lately? How about your assets? Are they strong enough to last as long as you do? Today on the show we’ll look into doing just that. We’ll get into some simple steps people can take to first assess the health of their finances, then to strengthen their personal finance balance sheets. This will include ways to boost savings now as well as help cover health care costs down the road. So that even when setbacks pop up in retirement years, they’ll know their financial balance sheet has their backs.
Signed into law by President Trump in late 2017, the Tax Cuts and Jobs Act of 2017 ushered in what could be the most significant overhaul of American tax policy in 30 years. This show reads between the lines of the dense new law, providing listeners with a look at who the winners and losers are likely to be, and which provisions likely will have the largest impact, positive and negative, on peoples’ finances and their retirements.
Thinking about, let alone planning for the death of a loved one is something many of us choose to set aside for later — or maybe never. But what if that person is the household’s breadwinner? How would you replace that paycheck, even in the short term? How will the bills get paid? To the point, will your family be okay if something happens to their breadwinner? Today, we’ll walk our listeners through realistic steps that not only prepare the family financially for the “what if’s” of life, but build a well-rounded financial strategy for the long term, one that allows them to stay the course financially, even if the face of an unforeseen serious turn in the health of a key income source.
There are always those gnawing questions: What could I be doing to get my money to work harder for me? How to get more out of my retirement assets? As hard as people work for their money, they deserve ways to get their money to work harder for them, especially with retirement approaching or already here. This show gives them 10 different ways to get more out of the assets they have built, with actionable suggestions for what they can do now to start maximizing their money, whether it’s by managing the timing of Social Security benefits, by mining the tax code for perks, or by taking full advantage of other tools designed to grow and protect wealth.
There are some things that just go together. Like peanut butter and jelly. Cookies and milk. How about retirement savings and risk? Now that combination sounds the alarm for many people. But do you really know how much risk is in your portfolio? Do you know what would happen to your savings if interest rates spiked or international stocks dropped? What risks would your portfolio and therefore your retirement plan be exposed to by such market moves or other events outside of your control? This show walks listeners through ways to analyze your portfolio from a risk perspective. The importance of categorizing your investments so you can understand their risks given different market scenarios. And what you can do now to minimize those risks and keep your plans for retirement on track.
Most people are familiar with the concept of diversification as it applies to their assets — spreading money across stocks, bonds, cash, etc., so all your eggs aren’t in one basket. What many don’t know is that with retirement looming on the horizon, they need to consider several different levels of diversification to give their assets a better chance of providing enough income to last throughout retirement. This show walks listeners through each of the four levels of diversification — across assets classes, within asset classes, in the tax profiles of their assets, and in the income sources they’ll rely upon during retirement — providing them with steps to help ensure their assets are appropriately diversified for the next phase of life.
We’ve all heard that we need to save for retirement. But the end goal seems more elusive today than ever. Is there a way to save that will actually have a larger positive impact on the retirement bottom line? Are there certain financial building blocks that, when put in place now, will help create a retirement portfolio designed to last as long as you do? Today’s show details some of the fundamental, foundational steps people can take to put themselves on solid footing for a fulfilling retirement.
You know you need to save money for retirement. And you have been, maybe not as much as you should be, but you’ve been saving. Yet a nagging question remains: have you been saving in a way that will enable your money to last as long as you need it to? Even with market volatility, or if inflation or taxes shoot up? Even if you or your spouse gets sick? Those are hard questions to answer, but if your current portfolio could be significantly impacted by one (or more than one) of those events were to happen once you retire, wouldn’t you want to make changes now to fix those issues? Before they become a problem? And while you can’t plan for everything, there are ways Design a plan for better flexibility, resiliency, longevity. And that’s on the agenda for today: key investment strategies that designed to build flexibility and resiliency into your portfolio now so it can last as long as you do.
There’s an often-overlooked but potentially very beneficial type of maneuver for retirement-minded people to consider if they currently have assets in a 401(k), 403(b), IRA, Roth IRA, life insurance policy or annuity contract. It’s called a rollover, and this show provides listeners with different rollover maneuvers that, when performed at the right time, the right way and for the right reasons, can put a person’s assets in better position for retirement.
Though we live in a world of do-it-yourselfers, online instruction videos and chat rooms, nothing quite takes the place of face-to-face instruction. Many people work harder and stick to a plan better when someone is physically by their side to guide them. The physical trainer pushes us to complete those one or two more repetitions at the gym. The knitting teacher shows us where we dropped a stitch, and how to pick it back up. And this is true when it comes to working with a finance professional as well. So why are many of us hesitant to engage a professional as guides for our financial lives? Maybe it’s due to a negative perception of them. Maybe it’s due to a lack of time and energy. Maybe it’s just not a top priority.
Interest rates are rising, and many expect they’ll continue to do so. Whether that’s a good thing or a bad thing for a person’s retirement finances depends largely on the measures they take proactively to manage interest rate risk and, where possible, to position their assets to capitalize on rising interest rates. This show provides listeners with suggested steps they can take — with their investments, with their cash and with their retirement accounts — to help mitigate the negative impact of rising interest rates and help maximize the financial positives that higher rates can provide.
New Year’s resolutions can be difficult to keep. So why make the effort to try fulfilling one? Because the benefits of doing so can be game-changing — and financially beneficial, if the resolution has something to do with money. This show provides listeners with a wide range of reasonable, reachable ideas for a money-related New Year’s resolution, some designed to help a person better organize and position their retirement assets and finances, some aimed at helping a person make wiser use of their money, and others designed to help a person fulfill their charitable or philanthropic desires. And they’re all accompanied by suggestions for keeping a resolution once it’s been made.
It seems like Social Security continues to be a hot topic in the news… Headlines that either forecast the worst or paint a picture of uncertainty for what’s to come. You may have worried more than once about how its fate will impact your retirement. Well, if so, this is a show you do not want to miss.
2017 is almost finished! Ruth Rose, CPA Masters In Tax joins David and Brad here to add her knowledge as to things you might be wanting to do before 2017 is finished.
You might be setting aside some money in an IRA or 401(k). But as you’re nearing retirement, now what? How do you manage those funds to give them the best chance of lasting as long as you do? With IRAs and 401(k)s, how do you strategically make withdrawals so that the assets last as long as you do? On today’s show we’ll get into ways to help you make the right plan decisions at the right time. Forming an income strategy is made up of moving parts, it’s not a straight line, but it is certainly doable. And worth taking the time so that you can enjoy the retirement you’ve been working and saving for.
But buying into myths and misconceptions related to retirement can lead a person down a perilous path. This show identifies eight widely believed but not exactly accurate myths about retirement finances — myths pertaining to things like Social Security, retirement investing strategy and even the professionals we rely on to provide advice about retirement — then scrutinizes each of them to reveal where they ring true, where they don’t and what listeners can do avoid being victimized by assumptions that are outdated, inapplicable or just downright off-base.
Gone are the days when most working people had a pension income waiting for them once they retired — regular payments that were guaranteed to last as long as people needed them to. This show provides pre-retirees who lack a true pension a series of straightforward steps to build lifetime retirement income for themselves by coordinating a range of different sources, including retirement plan assets, Social Security benefits, money parked in bank accounts, real estate holdings, the equity in their home, even an annuity. So even without an employer-provided pension plan, people still can enter retirement knowing they will have enough income for as long as they need it.
Ruth Rose (CPA) and Mark Walsh (estate planning attorney) join Dave Epstein on today's show to talk tax reform and estate planning.
Your retirement is getting closer. Maybe it’s a couple years away, or perhaps it’s coming in a matter of months or even weeks. But after all these years of working and saving and working and saving, what now? Do you need to do anything different? How should you prepare your finances as you get ready to dive into retirement? In today’s show we’ll explore some key steps you can take to prepare your portfolio and strengthen your income strategy, setting up you and your assets for a successful retirement.
Getting all stockbrokers, financial planners and insurance agents to act in the best interests of their clients is a struggle that financial firms and their regulators still haven’t resolved. That should be their job — but for now, it’s yours.
Markets are still riding all time highs. They've been making new all time highs again, again and again. Dave and Brad tell us how to keep our money safe with some Safe Money Strategies!
Will the income be there to support the lifestyle I want to lead in retirement, and will it be there for as long as I need it? That’s the question on the minds of many pre-retirees and current retirees. This show helps them find answers by taking stock of the various income sources that may be available for retirement, including Social Security, retirement plans (pensions, 401ks, IRAs, etc.) and taxable investment accounts, along with interest, business income, rental property and more. It also provides them with strategies for maximizing those income streams, so they can head toward retirement confident they’re in a good position financially to enjoy the next phase of life.
Retirement isn’t supposed to be stressful. So what are some suggestions to relieve the angst so many people feel about their money and their financial positioning with retirement looming? This show explores why it’s important for people to stress-test key facets of their retirement strategy — their assets, their income, even their current relationship with a financial professional — before entering retirement, and explains how to go about stress-testing in those important areas. By doing so, they’ll gain a clearer picture of where they stand as they step into the next phase of life.
Setting aside money for retirement is one thing, but doing so in a manner that provides maximum impact is quite another. At a time where, for many people, Social Security and a 401(k) may no longer provide enough to last through retirement, amassing a retirement portfolio that not only covers the daily necessities but is also flexible enough to withstand the risks of taxes, inflation, market volatility, longevity and life’s other surprises can seem like a daunting task. But it doesn’t have to be. With some inter-related, strategic moves, developing a well-diversified portfolio that supports a solid and resilient income strategy is not out of your reach. The key is thoughtful planning, and that’s exactly what this show addresses.
Not too long ago, retirement planning for many people consisted of having a pension and Social Security. That was pretty much it. Nowadays, however, with pensions on the endangered list and Social Security benefits perhaps not what they used to be, the responsibility for building a nest egg has largely shifted to the individual. But what should that nest egg look like? For most of us, it needs to be diversified. Diversified not just in terms of assets — stocks, bonds, cash — but also within each asset class. Capitalization, industry, geography and so on. And that raises another question: How much of each? Then there are the types of accounts — Roth IRAs, 401(k)s, annuities, HSAs, nonretirement accounts. But again, which ones are best for your particular situation? Today’s show will delve into the benefits of a diversified retirement portfolio and how you can start building yours today.
Will your retirement nest egg last as long as you need it to? That question keeps pre-retirees and retirees awake at night. This show is designed to help them put the question to rest by offering a range of suggestions for how to extend the life of one’s retirement assets so they’re positioned to last a lifetime and even beyond. Those suggestions include positioning nest egg assets for growth, balancing that upside growth potential with protection through diversification, insurance and the like, and managing things like retirement plan assets, Social Security and pension plan benefits. The tools to extend the life of a retirement nest egg are out there. It’s just a matter of knowing how and when to use them.
When you look at your finances do you wonder if you are truly prepared for retirement? Unfortunately just having a 401(k) and collecting Social Security may not cut it for many of us anymore. But is there a key retirement piece you might be overlooking? We’ll address that big question on today’s show by posing — then answering — four other key questions:
1) How many sources of retirement income will you have? 2) When do you plan to start drawing Social Security benefits? 3) What is your plan to pay for excess health and/or long-term care expenses? 4) What is your inflation hedge plan?
When it comes to retirement spending habits and peoples’ expectations for the expenses they’ll incur in retirement, and the amount they need to save now to cover those expenses later, the picture is often pretty cloudy. This show seeks to provide clarity by examining retirement spending habits and expenses, revealing the specific expense categories and line items that go into projecting one’s retirement expenses, where people can expect their expenses to rise and to fall, and how having a clearer understanding of retirement expenses can help inform an income strategy that hopefully provides them the means to fulfill their goals and dreams in the next phase of life.
People, regardless of their age or stage of life, must find an appropriate balance between growth and protection inside their retirement nest egg. With retirement looming close or already here, a person may need to adjust their mindset and their retirement strategy to reflect the new financial realities and reordered priorities that often accompany the next phase of life. How to determine the right balance between growth and protection, risk and reward, in that strategy? How to build growth potential into a nest egg, without assuming an inordinate level of risk? And how to complement that growth potential with an adequate level of protection? In providing answers to these questions, this show details a balanced approach to positioning and managing one’s nest egg so it produces a comfortable level of income for as long as it’s needed during retirement.
People, regardless of their age or stage of life, must find an appropriate balance between growth and protection inside their retirement nest egg. With retirement looming close or already here, a person may need to adjust their mindset and their retirement strategy to reflect the new financial realities and reordered priorities that often accompany the next phase of life. How to determine the right balance between growth and protection, risk and reward, in that strategy? How to build growth potential into a nest egg, without assuming an inordinate level of risk? And how to complement that growth potential with an adequate level of protection? In providing answers to these questions, this show details a balanced approach to positioning and managing one’s nest egg so it produces a comfortable level of income for as long as it’s needed during retirement.
How do you know if your retirement portfolio is really ready for action? Does it have the stamina to last as long as you do? Does it have the diversity and liquidity to withstand taxes? Market volatility? Inflation? What about the income sources to cover health care, let alone your day-to-day expenses? It’s a lot to consider. But so are the ways a plan can be derailed. And because we don’t have a crystal ball to show us what the future has in store, we need to plan for and build flexibility into our portfolios. Today’s show explains to listeners how to construct a retirement strategy that is not only built to last, but flexible enough to accommodate life’s — and the market’s — ups and downs.
People need income during retirement, not just to pay the bills but to fulfill the vision they have for the next phase of life. And the greater the share of that income that is actually “guaranteed” in terms of both timing and amount, the more confident a person can will be about not running out of money in retirement. This show explains why having guaranteed sources of income for retirement is important, while also detailing the possible sources to access guaranteed income, with suggestions for how to effectively manage those income sources — Social Security, pension, 401(k), bank accounts, and perhaps, annuities — so they all fit together into a coherent retirement income portfolio.
Ruth Rose (CPA - Masters In Tax) and Mark Walsh (Estate Planning Attorney) join David Epstein discussing retirement income planning and being tax efficient now that the year is half over.
Fear is a real phenomenon — jump-out-of-your-seat real. Just watch movies like “Rear Window” and “Jaws.” But what about the fears having to do with retirement? That is, fears about how you’re going to pay for it all? Not just the cost of travel cruises and golf outings, but other expenses, expected and not, from monthly bills to health care and medical costs. Covering it all for as long as you live — that’s an issue that strikes fear into plenty of retirement-minded people. This show explains how to face and overcome these fears by addressing the unknowns that cause them: How much will I need? How long will I live? Will I need care, long term? The antidote to fear in this case is a nest egg that is diverse and built to provide an income stream that meets your needs, right through retirement.
When preparing for retirement, there are a lot of calculations for when you are “ready.” Is it a date on the calendar? An income goal? A number on a financial statement? A combination of all three? Regardless, to make any of them work the way you want, you should have a plan for your numbers and how you will spend them. From a budget to a comprehensive look at your insurance coverage, there are a lot of ways to get a handle on what you are or could be spending in retirement, but bottom line: It’s important that, when it comes to your retirement spending, you have a game plan.
It’s well known that Americans — and indeed populations around the globe — are living longer than ever. With this news comes some added challenges. Living longer doesn’t always mean living healthy for longer. And, even if you maintain your health, a longer life still means a longer retirement. As health care industry inflation outstrips the standard rate of inflation, the bottom line for increasing longevity is that funding a retirement that could last 30 years — or more! — is a challenge. From annuities to delayed retirement, there are numerous strategies to combat the challenges of longevity, if one only knows where to look.
You’re old enough for a driver’s license. You qualify for banking accounts and preferred credit cards. You can rent an apartment and lease a rental car. Maybe you even got the cheesy over-the-hill pun cards several birthdays ago. So, at this point, counting birthdays either becomes mundane or dreadful, depending on how you feel. Yet, aside from the fun of any parties, there are many financial reasons to keep tabs on your age. Some milestones fluid – like retiring at 65. Others are ironclad (go ahead and try skipping your RMDs after 70 ½ and your tax penalties will tell you whether Uncle Sam was watching). Either way, it’s important to keep an eye on the calendar, even past what we may consider the “fun” birthdays.
Saving for retirement is a full-time job. But when retirement starts, a lot of the attitude that it took to get there will stop. How to switch gears in retirement, though? What needs to be considered? Ideally, future retirees will take a chef’s approach to retirement, gathering and preparing all of the ingredients and taking stock of the pantry before cracking that first (nest) egg.
Inflation is at historical lows here in America, but it is still a very real risk to retirees on a fixed income. Preparing ahead of time can do a lot to curb the effect of inflation on a retiree’s purchasing power. Additionally, the Consumer Price Index has found that retirees are particularly exposed to the effects of inflation, as the health care industry – retirees use at a higher rate than the general population – is particularly subject to inflation. Offsetting inflation risks with products that aren’t fixed or have inflation riders can help keep more dollars in retirees’ pockets.
David Epstein is joined by CPA Masters in Tax, Ruth Rose and Estate Planning extraordinaire, Mark Walsh from the Epstein & White office for a round table discussion about preparing you for a successful retirement!
It’s tempting to go it alone when it comes to retirement strategies, but studies show retirees are more confident in their retirement income when their plans have had a second look by a financial professional. So, what are some signs that it’s time to consider finding that trusted voice? From concerns about budget to having a different picture than a spouse, there are 10 signs (and 5 bonus signs!) that you should start thinking about a financial professional. Additionally, once you have decided to start a search for that trusted person, what criteria should you keep in mind during your search? Credentials, education and priorities are all important considerations for people to consider when finding the financial professional who could help them to—and through—retirement.
While political and social shifts have seemingly left the country more divided than ever, we share a common ground in that too many have avoided saving for retirement, and many who have saved lack the confidence that it is adequate. Yet, as the baby boomers wind through retirement, what is there to be done? From annuities to increased emphasis on market performance to downsizing and refinancing mortgages, there are many ways to get creative about generating an income in retirement when you’re playing catch up.
With people living longer than ever, the chief worry among many retirees and pre-retirees today is not running out of time for retirement, but running short of the money required to enjoy it. The goal is to position your assets so you can call your own shots financially, up to and through retirement. This show provides listeners with strategies, tips and tactics to help ensure that their assets last as long as they need them, by shrewdly managing their retirement accounts and investments with a diversified approach, and by spending wisely, carefully managing tax exposure, and using the right tools at the right time, including Social Security benefits, long-term care insurance and even an annuity.
A lot of financial preparations center not only on accumulating your wealth, but on making sure that you protect it from risk. That is the essence of insurance, that you can proactively manage risks. Yet, many people assume they are covered, failing to understand the basics of insurance policies or the variety of options available to them. From auto insurance to homeowners’ insurance to supplemental insurance, it’s important to understand what insurance is and how it works in order to answer the question: Are you really covered?
2016 began with a jolt of volatility that captivated headlines for more than a quarter. Then Brexit and terror attacks in Europe contributed their fair share to at least the perception of the market roller coaster action. Yet, no one can really tell when we’re in a bull market or bear market until we’re already well entrenched. So how are investors to cope with this possibly unsettling information? Working with a financial advisor, those who are in an accumulation stage of life should continue to invest with patience and calm, keeping in mind that what comes down usually goes back up. However, for those in or nearing retirement, who may not have the time to wait for the downs to go up, they may want to consider alternatives to traditional investing to provide a measure of protection for their hard-earned assets.
CPA Ruth Rose and Estate Planning Attorney Mark Walsh join Dave for a round table discussion about retirement goals.
The basics to accumulating wealth are make money, save money, invest money. Yet, with so many options available for investing and so many factors to consider (long-term goals, short-term needs, protection, volatility, etc.), the prospect of even getting started can be daunting. Laying out the basics of asset classes, the principals of diversity (among asset classes AND non-correlated markets) and ways to find protection, a simplified, high-level discussion of investing can help consumers of many wealth profiles make decisions amidst the noise of overwhelming choices.
A clarion call has gone out across the country that, with 10,000 boomers retiring every day, we are reaching a retirement crisis, as those looking toward retirement fear running out of income in retirement. With so many choices, options and expectations to meet, where, exactly, do we stand? What has caused the new concern for savings? And how can people prepare, or even over-prepare? Taking advantage of savings offers, expanded tax-qualified account limits, budgeting tools and insurance products, it’s time to outline the basics of how to save enough for retirement.
We’ve all heard that you get what you pay for, but do most people even know what they’re paying for in the first place? There are several ways for financial professionals to be compensated, and most agents have a mixture of commissions and fees that make up their revenue. Bottom line, it’s important for consumers to be knowledgeable about how their financial professional is compensated, in addition to being comfortable with the level of service they are paying for.
While the everyday investor hears about market volatility and the importance of asset diversification, it’s easy to dismiss those concepts as buzzwords and set your retirement nest egg into a rut on autopilot. But that is one habit that can be harmful: Instead, knowing what a truly diversified portfolio might look like is a prime piece of understanding and taking ownership of the assets you need in retirement.
It seems like Social Security keeps showing up in the news. You’ve probably seen the headlines that either forecast the worst or paint an unrealistic picture of what’s to come. Maybe you’ve worried more than once about how its fate will impact your retirement. Well, if so, this is a show you don’t want to miss.
Your retirement goals may be ones of leisure, adventure or simply having enough to live comfortably for the rest of your years with the hope of leaving something for your loved ones when you pass on. Maybe you’ve been diligent about your savings and generous with your 401(k) contributions, and for that you should be commended! But, the fact is, in this day and age, there are factors that can sneak up on your retirement assets and scatter them in all different directions.
New Year’s resolutions can be difficult to keep. So why make the effort to try fulfilling one? Because the benefits of doing so can be game-changing — and financially beneficial, if the resolution has something to do with money.
Turning your savings and investments into income in retirement is one of the most important pillars in retirement planning. But this transition is new territory for most people entering retirement. It’s foreign territory. And it’s scary.
Retirees dream of living the good life in retirement. They dream of traveling to far away places; having a 2nd home on the coast; or being a member at that exclusive golf club. But their very first responsibility in planning for retirement … is ensuring their basic living expenses will be covered.
They must ensure that no matter what happens … they’ll always have a roof over their head; food in the refrigerator; and have the ability to cover their healthcare and medical expenses. This is the very foundation of planning for retirement.
What retirees need to do in the 5 years leading up to retirement to ensure they retire successfully. And being prepared, is everything.
So what should someone do if they’re getting ready to retire? What issues do they need to address?
The most dangerous assumptions people make about retirement. And if you make just one of these assumptions, it could ruin your retirement!
Dave and Brad talk about the recent Presidential Election and how it may effect your plans for retirement.
If Joe Retiree wants to find ways to generate more income in retirement, he will think of other ways to get a higher return on his current investments. But unfortunately, seeking higher returns also comes with higher risk.
But there are other ways to boost your retirement income. And sometimes, it’s not so obvious.
Diversifying your investment portfolio is one of the staples of retirement planning. But have you diversified your income sources in retirement? If your income is only coming from one or two sources, you’re taking on unnecessary risk! And it could wind up being a financial disaster. You need reliable income from a variety of different sources to protect your retirement from risks.
Procrastination can get the best us. But when it comes to retirement planning, it’s flat out dangerous.
The stock market is close to all-time highs, and it lacks the certainty that retirees and near retirees are searching for.
There are a lot of great stories that could come from this show. Stories about a parent; a relative; a friend; and/or clients.
The 5 simple, but effective steps to generating income in retirement. You’ve been focused on saving and investing for retirement your entire career, right? But you’ve given little to no thought as to what you’re going to do with that money once you’ve actually retired.
This show is about the changing landscape retirees face today. It’s not the retirement your parents or grandparents had. And as a result, how we plan for retirement has to change in order to survive.
The crippling effects inflation can have on your lifestyle in retirement. If you don’t have a strategy for inflation, it can crush your purchasing power. So you have to take the necessary steps to protect yourself now!