Money Not Math: Recent Episodes
Drew Erickson
I love our country but I don't believe our government or Wall Street should control our financial future. Do you? I believe hard working people deserve to have more control of their money, more success in retirement, and better protection for their families.
Why Stocks are Hitting Record Highs,Avoid RMD Shortfalls, and Is Fixing Social Security and Medicare as Dire as itSeems? 6/13/24 Retirement Planning Coffee Talk
“Still, without action by Congress,the program in 2035 would be bringing in enough cash to pay only 83% of thebenefits promised to current and future beneficiaries. In other words,beneficiaries would be facing a disastrous 17% cut in benefits.” - Is FixingSocial Security and Medicare as Dire as It Seems?
Weekly Retirement Planning CoffeeTalks are an informal way for me to have conversations and answer questionswith people even if they are not my clients for free. You are welcome to jointhe Facebook live or stop by my office for free coffee.
There is no pressure to work with meor become my client by stopping by in person or online.
It is my mission to provide thehighest quality advice and service possible to my clients. Therefore, I limitmyself to only having 100 or less active clients at all times that I have afiduciary responsibility to. Even though I limit myself to only working with100 clients at any given time. It is still important to me to provide as muchvalue as I can to as many good people as possible. Which is why theseconversations are so important to me.
Disclaimer, this content is not legal, tax, orinvestment advice. You should always consult a qualified professional regardingyour personal situation. And this is live so I may make amistake from time to time.
Ilook forward to some great conversations and hope you have a wonderful day.
MoneyNotMath #RetirementPlanning #EmptyNesters#5StoneFinancialGroup #investing #money #FinancialEducation #Retirement #coffee #stocks #RMD#SocialSecurity #Medicare
Articles referenced: https://www.morningstar.com/retirement/5-life-expectancy-rules-10-year-other-ira-beneficiaries?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_advisordigest&utm_content=54334https://www.morningstar.com/markets/why-stocks-are-hitting-record-highs-what-could-send-them-back-earth?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_morningdigest&utm_content=54511https://www.morningstar.com/retirement/fixing-social-security-medicare-its-not-dire-it-seems?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_advisordigest&utm_content=54543
The True Cost of a Financial Advisor Revealed, The Financial Risks of Social Media, and Take it from Warren Buffett: Misses Are Inevitable. 6/6/24 Retirement Planning Coffee Talk
Would it be worth paying 1% of your assets under management to receive 1.5%-4% higher account growth over an extended period of time? Potentially going from ~$1.3M to ~$2m or ~$1.3M to ~$4m?
What's the "hottest" financial tip or "trade secret" you've seen on social media recently?
Save more than you spend.
Diversify across asset classes.
Invest regularly (even during bear markets and corrections).
Be mindful of costs.
Don’t panic during selloffs.
Weekly Retirement Planning Coffee Talks are an informal way for me to have conversations and answer questions with people even if they are not my clients for free. You are welcome to join the Facebook live or stop by my office for free coffee.
There is no pressure to work with me or become my client by stopping by in person or online.
It is my mission to provide the highest quality advice and service possible to my clients. Therefore, I limit myself to only having 100 or less active clients at all times that I have a fiduciary responsibility to. Even though I limit myself to only working with 100 clients at any given time. It is still important to me to provide as much value as I can to as many good people as possible. Which is why these conversations are so important to me.
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation. And this is live so I may make a mistake from time to time.
MoneyNotMath #RetirementPlanning #EmptyNesters #5StoneFinancialGroup #investing #money #FinancialEducation #Retirement #coffee
Articles referenced: https://articles.smartasset.com/financial-advisor-true-cost/ux/index.html?utm_source=googlediscovery&utm_campaign=dis__falc_content_truecost&utm_content=134512371305_655524434362&utm_term=Beth&gclid=CjwKCAjw88yxBhBWEiwA7cm6pcE4wznNL4yV8oQYApmhkYDPEKInob7v27Myw23jFWjLpGKI0QkfDRoCPY4QAvD_BwE https://www.morningstar.com/financial-advisors/take-it-warren-buffett-misses-are-inevitable
Please email me ad drew@5stonefinancial.com if you would like to be added to our newsletter.
Dad jokes, the financial media, and the countdown to your retirement. 5/8/24 Retirement Planning Coffee Talk with Ross Welte and Dexter.
Check out this video for some real client retirement stories regarding their emotions and financial outcomes!
Why is the news so negative? Can anyone explain this FPS situation? Emotions are the detriment to long-term planning. Don’t use words! Should we get out of the market? What happens if you get out at the wrong time? The Death of Equities. The value of being independent and being open to your options. Are you getting the most out of your money? Don’t be romantic about how you made your money. The emotions you feel before, during and after retirement. The top 5 Retirement Planning MISTAKES. Dad Jokes.
Thank you Ross and Dexter for joining me. I thoroughly enjoyed the conversation. Should we start Dad Jokes with Dads?
Weekly Retirement Planning Coffee Talks are an informal way for me to have conversations and answer questions with people even if they are not my clients for free. You are welcome to join the Facebook live or stop by my office for free coffee.
There is no pressure to work with me or become my client by stopping by in person or online.
It is my mission to provide the highest quality advice and service possible to my clients. Therefore, I limit myself to only having 100 or less active clients at all times that I have a fiduciary responsibility to. Even though I limit myself to only working with 100 clients at any given time. It is still important to me to provide as much value as I can to as many good people as possible. Which is why these conversations are so important to me.
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation. And this is live so I may make a mistake from time to time.
MoneyNotMath #RetirementPlanning #EmptyNesters #5StoneFinancialGroup #investing #money #FinancialEducation #Retirement #coffee #SocialSecurity
Articles referenced: https://ritholtz.com/1979/08/the-death-of-equities/
https://smartasset.com/retirement/retirement-mistakes-to-avoid
Forgive, Be BOLD, and Live! Money Not Math 153 interview with Alison Bernier – Bernier Properties LLC
What an absolute pleasure it was for me to interview Alison and get to know her better. Her faith, perseverance, genuine nature, and kindness are incredible.
I love her Core Values and belief system. Especially when she talks about how the connections you have and how we treat people are more important than the money you have.
From pre-law and nutrition to entrepreneurship I strongly encourage you to set aside 30 minutes to watch or listen to Alison’s story. Plus, I would appreciate it if you helped me celebrate Alison by sharing, commenting, and liking this post.
Please reach out with questions or thoughts for Alison or me.
Thank you and I hope you have a wonderful day.
Forgive #BeBold #Live #RealEstate #Faith #Family #perseverance #kindness #MoneyNotMath #Connections
Thankful for 10 years! My office is moving. FED interest rate decisions. Only 1 in 5 have retirement plans. 5/2/24 Retirement Planning Coffee Talk.
Weekly Retirement Planning Coffee Talks are an informal way for me to have conversations and answer questions with people even if they are not my clients for free. You are welcome to join the Facebook live or stop by my office for free coffee.
There is no pressure to work with me or become my client by stopping by in person or online.
It is my mission to provide the highest quality advice and service possible to my clients. Therefore, I limit myself to only having 100 or less active clients at all times that I have a fiduciary responsibility to. Even though I limit myself to only working with 100 clients at any given time. It is still important to me to provide as much value as I can to as many good people as possible. Which is why these conversations are so important to me.
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation. And this is live so I may make a mistake from time to time.
I look forward to some great conversations and hope you have a wonderful day.
MoneyNotMath #RetirementPlanning #EmptyNesters #5StoneFinancialGroup #investing #money #FinancialEducation #Retirement #coffee #FED #InterestRates
Articles referenced: https://www.morningstar.com/markets/what-history-tells-us-about-feds-next-move?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_morningdigest&utm_content=53723 https://www.usatoday.com/story/money/2024/05/02/affording-retirement-costs-americans-survey-aarp/73530103007/
NFL Draft tonight, go Vikings! 5.1% Cash Accounts. Structured Notes. Series 65. 2/3 of Peak Boomers Aren't Ready for Retirement. And Qualified Charitable Distributions. 4/25/24 Retirement Planning Coffee Talk.
Weekly Retirement Planning Coffee Talks are an informal way for me to have conversations and answer questions with people even if they are not my clients for free. You are welcome to join the Facebook live or stop by my office for free coffee.
There is no pressure to work with me or become my client by stopping by in person or online.
It is my mission to provide the highest quality advice and service possible to my clients. Therefore, I limit myself to only having 100 or less active clients at all times that I have a fiduciary responsibility to. Even though I limit myself to only working with 100 clients at any given time. It is still important to me to provide as much value as I can to as many good people as possible. Which is why these conversations are so important to me.
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation. And this is live so I may make a mistake from time to time.
I look forward to some great conversations and hope you have a wonderful day.
MoneyNotMath #RetirementPlanning #EmptyNesters #5StoneFinancialGroup #investing #money #FinancialEducation #Retirement
Articles/websites referenced: https://www.5stonefinancial.com/ https://www.thinkadvisor.com/2024/04/24/two-thirds-of-peak-boomers-are-financially-unprepared-for-retirement-study/?fbclid=IwZXh0bgNhZW0CMTAAAR0wk1RASumB4dWabxayCkBFv19LJ1FGIZ-nxJ7xXM4s_VOzFp-2bUGEs4I_aem_AZX9to-XLUUSNYfMzORcLuC4OuDI85tKP05JEtt4enkA2AZvgX7nRu3hrn3emQ4Mqk4k0oqoQ0F0HCAxf1nZvTbU https://www.fidelitycharitable.org/guidance/philanthropy/qualified-charitable-distribution.html?fbclid=IwZXh0bgNhZW0CMTAAAR3mqnhCTGvymHjHcy6Ztp74P6EBc24NKIXGdlIkwZoWEahfp9zuzkstt4U_aem_AZXlAtAmOw2hh_onLHTeftoJPT0j-gULJdqiwgf9_7jJDVf1KtRNSeeBG5UxUUBYSvon1j9asIIOmG0NJ3mv0KNQ#:~:text=A%20qualified%20charitable%20distribution%20
Roth Conversions. Will the New Inflation Story Hurt Stocks? Magnificent No More? Apple and Tesla Stocks Are Weighing on the Market. Our retirement planning newsletter and Shane Zutz’s leadership newsletter. 4/18/24 Retirement Planning Coffee Talk
Weekly Retirement Planning Coffee Talks are an informal way for me to have conversations and answer questions with people even if they are not my clients for free. You are welcome to join the Facebook live or stop by my office for free coffee.
There is no pressure to work with me or become my client by stopping by in person or online.
It is my mission to provide the highest quality advice and service possible to my clients. Therefore, I limit myself to only having 100 or less active clients at all times that I have a fiduciary responsibility to. Even though I limit myself to only working with 100 clients at any given time. It is still important to me to provide as much value as I can to as many good people as possible. Which is why these conversations are so important to me.
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation. And this is live so I may make a mistake from time to time.
I look forward to some great conversations and hope you have a wonderful day.
MoneyNotMath #RetirementPlanning #EmptyNesters #5StoneFinancialGroup #investing #money #FinancialEducation #Retirement
Articles Referenced: https://www.morningstar.com/retirement/recharacterizing-your-ira-contribution?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_advisordigest&utm_content=53453&fbclid=IwZXh0bgNhZW0CMTAAAR2FmaeRy2FpsvV49IcBB1yGn51TXWr8wfRGyAqrV8CDOexczJ45ig1Fjqs_aem_AdNr0zr5_OiNheaun2xrCwjilcMYLZrsGM2pjJgU7D8aOObX9Wv24psHctQxZNTz5j4CXj5FKt1bnkio7B5d8i5K https://www.morningstar.com/markets/markets-brief-will-new-inflation-story-hurt-stocks?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_advisordigest&utm_content=53390&fbclid=IwZXh0bgNhZW0CMTAAAR05safgm7DGM7NBs5k0fGq_y0hins3izMye3YHsNkiI84IMPTN0bw-c1xw_aem_AdPvCCXgiYVWidrdzKIj0EyBfA5XZjQswy-2kuZmQCRLwssK2hz8PfqJbJp5x8NEIowl7FWtwDFMCmnToNl3i589 https://www.morningstar.com/markets/magnificent-no-more-apple-tesla-stocks-are-weighing-market?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_morningdigest&utm_content=53306&fbclid=IwZXh0bgNhZW0CMTAAAR2_WtVlG9_HyEMkuBZ33_EQuDRlQvIgv4WDhOxmvtItsRVPFs0cFFieiJY_aem_AdMSU7QXIFKQP1wZXIxN0mh7Fjdqrq_9YO9Xa1zX6U2i5EdJrqF0bjcSolTVoNOS7wiyUiqSse8qkQIoInBMRs8N
“I feel like I should have had a financial education class” 4/11/24 Weekly Money Not Math Coffee Talk
Topics discussed= Help support the Challenger Elementary School teachers and students by buying a coffee mug! What I See When I Watch Basketball. Where International Diversification Works—And Where It Falls Short. Which behavioral bias is most common and most detrimental to financial planning? Do we deal with a lot of retirement planning? The most successful investment accounts are owned by dead people.
Weekly Money Not Math Coffee Talks are an informal way for me to have conversations and answer questions with people even if they are not my clients for free. You are welcome to join the Facebook live or stop by my office for free coffee.
There is no pressure to work with me or become my client by stopping by in person or online.
It is my mission to provide the highest quality advice and service possible to my clients. Therefore, I limit myself to only having 100 or less active clients at all times that I have a fiduciary responsibility to. Even though I limit myself to only working with 100 clients at any given time. It is still important to me to provide as much value as I can to as many good people as possible. Which is why these conversations are so important to me.
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation. And this is live so I may make a mistake from time to time.
I look forward to some great conversations and hope you have a wonderful day.
MoneyNotMath #RetirementPlanning #EmptyNesters #5StoneFinancialGroup #investing #quality #advice #service #free #coffee #FinancialEducation
Please let me know if you would like to be added to our newsletter and here are the articles I referenced, https://www.morningstar.com/portfolios/does-case-investing-internationally-add-up?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_morningdigest&utm_content=52987&fbclid=IwAR2d2OyOb_10cJF6Thj_eGqUAQQu-8A5638Esvbjx4njWGtPMlHZHHuCHfg_aem_AZsZ-N_NyDj_KcaLPbbS2CjoevQYULkL_8Ip9X1Uxs7JNSovBAYsHrzq5HaNa9pBWl0LUCuHEJL8knLP7INdnvjV https://www.dimensional.com/us-en/insights/what-i-see-when-i-watch-basketball
Go Gophers! 5 Steps to Spring-Cleaning Your Investment Portfolio. Morningstar Market Insights: Central Banks, Inflation, and Patient Investing. Cost of Capital: A Gut Check on High-Flying Stock Returns. 3/28/24 Weekly Money Not Math free Coffee Talk.
Weekly Money Not Math Coffee Talks are an informal way for me to have conversations and answer questions with people even if they are not my clients for free. You are welcome to join the Facebook live or stop by my office for free coffee.
There is no pressure to work with me or become my client by stopping by in person or online.
It is my mission to provide the highest quality advice and service possible to my clients. Therefore, I limit myself to only having 100 or less active clients at all times that I have a fiduciary responsibility to. Even though I limit myself to only working with 100 clients at any given time. It is still important to me to provide as much value as I can to as many good people as possible. Which is why these conversations are so important to me.
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation. And this is live so I may make a mistake from time to time.
MoneyNotMath #RetirementPlanning #EmptyNesters #5StoneFinancialGroup #investing #free #coffee #SpringCleaning #InvestmentPortfolio #morningstar #banks #inflation #stock #returns
Articles Referenced: https://www.morningstar.com/markets/morningstar-market-insights-central-banks-inflation-patient-investing?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_advisordigest&utm_content=52878&fbclid=IwAR3kwzQUeR8f8Zt6-wJCr-YT87fmhZ2T545ia2SPielXDHRLk3xu1jpESSo_aem_AW6W9TkvpIutht_-MWTOCL9utm0_HKpdKZpEVrtvEWIdz28XR6pUKclBEi5Xuy_U0wHv1ummN3zhUHg_Iz2_mnSv https://www.morningstar.com/portfolios/5-steps-spring-cleaning-your-investment-portfolio?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_morningdigest&utm_content=52906&fbclid=IwAR2KoLcTdPgFufG8KR6hHPht_YBR1w_A0QddpOhfEan6s_MGM_tonqAnGfQ_aem_AW60aFK7BGZDV1iWgz-k_qfPuYlI858sFJ8WfsEOjHQ64Ibn0lHPnTTei-1GcuiBBgvX91swbCNORWP0OENv3taM https://www.dimensional.com/us-en/insights/cost-of-capital-a-gut-check-on-high-flying-stock-returns?fbclid=IwAR27IgKAZl2lvJaBH1Wah2om0Q2XOdQ0cA_b5ASWymgAJjRHFaQ2ZPKQ6e0_aem_AW6_wDxm3oq6eeWL_tV3bYuD7dULpZSYoRdPvENAXkI3Q3rlo0-ZT_XhUBQRbUug-uOe0YnJbITfTpyfTpZlFyyp
2.23.24 Money Not Math interview with Tevin Moreno – Moreno Dental Services. Money Not Math 152.
Did you know Tevin drove a bus to his first year of college and started his own practice/business straight out of college?
Listen to this awesome interview to learn more about Tevin, his impressive path to becoming a dentist, and the lessons he has learned along the way. I left more impressed than expected and think you will too. Plus, there are some tremendous pieces of advice shared so it’s well worth the listen.
Also, he may have a job opportunity for you.
Help support his business and share his story by sharing and liking this video or podcast plus comment if you have questions or requests for future Money Not Mat conversations.
You can reach Tevin at Dougl240@umn.edu
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
MoneyNotMath #Dentist #Money #BusinessPlanning #FinancialPlanning #RetirementPlanning #wealth #GrowthMindset #resilience #HardWork
Topics discussed= Missing out by not talking finance?
The Next BlackBerry?
Are ‘Higher for Longer’ Interest Rates Back?
The difference between Want and Need!
Weekly Money Not Math Coffee Talks are an informal way for me to have conversations and answer questions to people even if they aren't my clients for free. You are welcome to join the Facebook live to talk or stop by my office for some free coffee.
There is no pressure to work with me or become my client by stopping by in person or online.
I look forward to some great conversations and hope you have a great day.
I love to help people have more confidence in their financial future.
It is my mission to provide the highest quality advice and service possible to my clients. Therefore, I limit myself to only having 100 or less active clients at all times that I have a fiduciary responsibility for.
Here's the link to the Facebook Event page in case you want to join live in the future, https://fb.me/e/bkt6Tqabq
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
MoneyNotMath #Money #5StoneFinancialGroup #EmptyNesters #RetirementPlanning #Investing
“Roger Federer’s impact on the sport is maybe more than any man before him. His trademark style took the sport by storm and changed the way younger players approached it, essentially laying the groundwork for the next two decades of tennis. Beyond that even, his impact on the world of sport is clear for all to see and his position as a role model has never been questioned. Roger Federer is undoubtably the greatest tennis player of all time, but he may even be in the argument for the greatest athlete of all time as well.”- https://www.worldtennismagazine.com/archives/21793#:~:text=Beyond%20that%20even%2C%20his%20impact,of%20all%20time%20as%20well.
What can that teach us about investing?
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
All these numbers are rounded for simplicity.
Data sourced from "Probability of Positive Returns"- Dimensional.com and ultimatetennisstatistics.com.
Past performance is no guarantee of future results.
Please reach out with questions, comments, or requests for future topics.
MoneyNotMath #Money #Retirement #RetirementPlanning #EmptyNesters #5StoneFinancialGroup #Investing #Tennis #RogerFederer #GOAT
2.7.24 Live Money Not Math free Coffee Talk recording
How Small, Consistent Actions Can Pay Off BIG in Finance & Life https://financeinsights.net/KXVwTdjwPh06aK7SQEj4XHVZn7M?email=drew%405stonefinancial.com&fbclid=IwAR1N7gvKurlDwWOqraMzlIxc-DxnkkLjRgOfOw12Cf1A8MFbcSJoKod1O6k
Uncertainty is Underrated https://www.dimensional.com/us-en/insights/uncertainty-is-underrated
Weekly Money Not Math Coffee Talks are an informal way for me to have conversations and answer questions to people even if they aren't my clients for free. You are welcome to join the Facebook live to talk or stop by my office for some free coffee.
There is no pressure to work with me or become my client by stopping by in person or online.
I look forward to some great conversations and hope you have a great day.
I love to help people have more confidence in their financial future.
It is my mission to provide the highest quality advice and service possible to my clients. Therefore, I limit myself to only having 100 or less active clients at all times that I have a fiduciary responsibility for.
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
MoneyNotMath #Money #Retirement #RetirementPlanning #5StoneFinancialGroup #action #success #investing #uncertainty
Thank you for your time! Money Not Math 150
Thank you to everyone who has taken the time to watch my videos, listen to my podcasts, and follow my pages. I am extremely grateful for the opportunity to help others improve their financial future. I hope these episodes have brought you value and will bring even more in the future. Below is a list of the most watched or listened to episodes I have had so far for you to check out. Please comment with requests for future Money Not Math topics or questions you have about your retirement planning. I am also excited about feedback you have on changes I can make to improve the quality of my content.
Which Episode is your favorite and why??? Please comment to let me know (it doesn’t have to be one of the ones listed below)
Most popular videos on YouTube.
Congress wants to change how you save for retirement. Money Not Math 124 (7.8k views!) https://youtu.be/1c62Jjw1_CE?si=k_ol_z0oyggMnuwy
How to Calculate Roth 401(k) Withholding. Money Not Math 62. https://youtu.be/QYePHhUgUbs?si=bq3bVSFZCIDte90l
I am Maxing out my 401k, Now What? Money Not Math Client Success Story 2 https://youtu.be/959kIgQDD7k?si=CiZe8Q6mwjRlzn8C
Most popular Podcasts.
What is the red stuff in steak? Money Not Math 128 https://podcasters.spotify.com/pod/show/drew-erickson7/episodes/What-is-the-red-stuff-in-steak--Money-Not-Math-128-e1u0km3
What is the BEST way to Grill Steak? Money Not Math 129 https://podcasters.spotify.com/pod/show/drew-erickson7/episodes/What-is-the-BEST-way-to-Grill-Steak--Money-Not-Math-129-e1uc6p5
The CARES Act allows workers to borrow up to $100,000 from their 401(k) and what you need to know about 401(k) loans before you take one. Money Not Math 64 https://podcasters.spotify.com/pod/show/drew-erickson7/episodes/The-CARES-Act-allows-workers-to-borrow-up-to-100-000-from-their-401k-and-what-you-need-to-know-about-401k-loans-before-you-take-one--Money-Not-Math-64-ecfii4
On the flip side, here are my least popular episodes so far… it’s amazing how sometimes what I think will be my best content falls flat on its face.
Least popular YouTube video (only 1 view… ouch)
Would you intentionally golf with only a driver and a putter? Money Not Math 65 https://youtu.be/-MTm3pAiBXw?si=_WbBnWPNN1tAYV2r
Least popular podcasts (there was a tie with only 1 listen… OUCH)
I am Maxing out my 401k, Now What? Money Not Math Client Success Story 2 (Ironic considering it’s one of the most popular videos) https://podcasters.spotify.com/pod/show/drew-erickson7/episodes/I-am-Maxing-out-my-401k--Now-What--Money-Not-Math-Client-Success-Story-2-e2e60ij
Want to Lose Your Money? Listen to Millionaires. Money Not Math 149 https://podcasters.spotify.com/pod/show/drew-erickson7/episodes/Want-to-Lose-Your-Money--Listen-to-Millionaires--Money-Not-Math-149-e2ech0t
Thank you again for your time and I hope you have a great day.
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
MoneyNotMath #Money #EmptyNesters #Retirement #RetirementPlanning #5StoneFinancialGroup #Congress #Roth #401k #success #steak #CARES #401kLoan #golf
Along with anybody else who attempts to forecast the investment future. Most who try to predict the market fail more often than not.
Problem #1: Recency Bias
Problem #2: Group Think
Problem #3: Wishful Thinking
Why Bother?
“Why Investors Might Think Twice About Chasing the Biggest Stocks. As companies grow into some of the largest firms, the returns that push them there can be impressive. But not long after joining the Top 10 biggest by market cap, these stocks, on average, lagged the market.” – Dimensional.com
MoneyNotMath #5StoneFinancialGroup #EmptyNesters #RetirementPlanning #Retirement #Money #Millionair #Investment #predict #market #StockMarket #RecencyBias #GroupThink #Wishful #Thinking
Article referenced: https://www.morningstar.com/markets/how-get-poor-listen-millionaires?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_morningdigest&utm_content=50853
I am Maxing out my 401k, Now What? Money Not Math Client Success Story 2
I love to help people have more confidence in their future and it is my mission to provide the highest quality advice and service possible to my clients. To accomplish this, I limit myself to having 100 active clients or less that I have a fiduciary responsibility to at all times.
One way I hope to provide value to good people is to periodically write a client success story. So that no matter what is troubling you today, you can see there is light at the end of the tunnel, and it is possible to improve your financial future.
After I gave a retirement planning presentation to a group a few years ago. A 35-year-old doctor from the group reached out to me afterwards and basically said, “I am maxing out my 401k, HSA, and IRA, now what?” So, we scheduled a meeting to discuss their current planning and determine if it might make sense for us to work together. In that meeting I found out a few key pieces of information about this person that would impact their planning. They were motivated to be a good steward of their money so they could help others, they wanted to travel, and they wanted to retire as early as possible so they could go on mission trips and volunteer to help those in need across the world.
This was great news and a problem at the same time. It was great news because this was obviously an incredible human that cares about others that I would enjoy working with. But the problem was, like many people, their life aspirations and current savings strategies did not align and were not working together. They were maxing out their 401k, IRA, and HSA. Which is an impressive display of discipline and saving for their future. However, the problem is their primary goals in life were to help others, travel, and retire as soon as possible which means they would need access to their money and liquidity before they are 59.5 years old. Unfortunately, their max contributions to their 401k and IRA would not be completely liquid without penalty or taxes until they were 59.5. Plus, they had no current medical issues or expenses so even though their HSA savings would be valuable in the future, they were not overly impactful when it came to achieving their shorter-term goals. Therefore, a majority of their current savings were not going to help them achieve their goals and they did not have any strategies in place to help them achieve their goals.
They decided they wanted to work together so we got to work reviewing savings strategies and options for them to consider that would help them achieve their goals by growing their wealth while staying liquid or accessible when they wanted. Since that time, they continued saving into their 401k, IRA, and HSA while also adding two additional tools to their strategy that will grow, balance their exposure to the market, and stay accessible for them to use to help others, travel, and retire as soon as possible rather than waiting until they are 59.5 years old. Plus, they also completed their estate planning, and we continue to meet once or twice a year to maintain and update their planning.
Thank you and I hope you have a wonderful day,
Drew Erickson
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation. Please reach out if you have questions or would like to discuss any of the details mentioned in this client’s story. Out of respect to the clients, I kept names and specific details out of this story while leaving enough information to hopefully provide value. This story would not have been written without the consent of my clients about whom it is written. And as always, everything my clients do with me is confidential at all times and is not shared with any of my other clients or people I know without their consent.
Your 2024 Tax Fact Sheet and Important Dates. Money Not Math 148
2024 Important Tax Facts for All Taxpayers. Do you know the difference between your marginal and effective income tax rate?
2024 Important Tax Facts for Investors. Is it better for you to pay income or capital gains tax rates?
2024: Important Tax Dates to Remember
•Jan. 1: New IRA, retirement plan, and HSA contribution and income limits go into effect for the 2024 tax year, as listed above.
•Jan. 16: Estimated tax payments due for the fourth quarter of 2023.
•April 15: 2023 individual tax returns due, last day to contribute to IRA and SA for 2023.
•June 17: Estimated tax payments due for the second quarter of 2024.
•Sept. 16: Estimated tax payments due for the third quarter of 2024.
•Oct. 15: Individual tax returns due for taxpayers who received a six-month extension on their 2023 returns.
•Dec. 31: Retirees age 73 and older must take required minimum distributions from traditional IRAs and 401(k)s; those RMDs are based on their balances at the end of 2023. Last date to make contributions to company retirement plans (401(k), 403(b), 457) for the 2024 tax year.
Article referenced, https://www.morningstar.com/personal-finance/your-2023-tax-fact-sheet-calendar?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_morningdigest&utm_content=50748
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Priorities and timing are everything. Money Not Math 147 with Joe Hedrick - TRF Airport Manager
Listen to this Money Not Math conversation to learn more about Joe, how the airport works, and the lessons Joe has learned running this $1,000,000 per year business.
What brought Joe to TRF and how did he become the manager of the TRF airport?
From compliance to snowplowing to shaking hands with the governor… you may be amazed by all that goes into Joe’s job!
Did you know the TRF airport has doubled how many people fly out of TRF and quadrupled the cargo that’s shipped?
Check this episode out to hear the exciting developments coming to the airport next! Did I hear a DELTA in there?
What is the greatest financial lesson Joe has learned?
Joe’s greatest piece of advice is…
What is Joe’s definition of being successful?
Consistency or Fairness, Positive Mindset, Sober Optimism, Passion, and Pragmatism are some great core values. Is your glass half full or half empty?
Thank you for supporting the airport!
MoneyNotMath #Money #retirement #RetirementPlanning #revenue #GrowthMindset #time #priorties #FinancialBurden #taxes #TaxLevy #PositiveMindset #advocate #rotary
I love to help people have more confidence in their future and it is my mission to provide the highest quality advice and service possible to my clients. To accomplish this, I limit myself to having 100 active clients or less that I have a fiduciary responsibility to at all times. Rather than trying to sell as many hot dogs (or products) to as I can to as many people possible even if they do not need or want them.
One way I hope to provide value to good people, whether they are my clients or not, is to periodically write a client success story. So that no matter what is troubling you today, you can see there is light at the end of the tunnel, and it is possible to improve your financial future.
Nine years ago, back in 2014, I met with a couple for the first time. During that meeting they expressed to me their number one financial planning goal was to retire comfortably in their early to mid-60s. However, due to a pile of credit card and student loan debt plus not having a plan they were not sure if they would ever be able to retire much less in their 60s. In that meeting they almost shrugged off the idea of ever retiring due to their situation looking so bleak and said, “we don’t want to be a prisoner to what we owe to our debt.”
These clients were familiar with the financial industry and had even met with “financial planners” in the past. However, due to life getting busy with work and raising their kids plus the “financial planners” never calling them again after selling them a product. Their financial plan and confidence to retire went by the wayside. To avoid leaving them with products and strategies they would not remember how to use in the years to come and to improve our ability to reach their financial and retirement goals. We agreed in our first meeting to have at least one annual review and one check-in call per year minimum.
Over the next nine years we worked together on their investments and 401k planning, budgeting, insurance protection, and debt reduction goals together. With our ability as an independent company that can use the strategies, we believe fit our clients best and shop around to almost any company we want for investments, insurance, structured notes, and annuity options. We were able to bring them from wondering “if they would ever be able to retire and stop being a prisoner to their debt” to choosing when and where they want to retire. To go from wondering if they will have to work until the day they die, to choosing where in the country they want to live and what they want to live in throughout the different seasons of the year. All with a healthy portion of their retirement portfolio paying them guaranteed income for life that they cannot outlive. Plus, a healthy portion of their retirement portfolio allocated to fight inflation and be available for their legacy to their family and/or charity. Giving them the confidence, they hoped for to retire when they wanted to, how they wanted to, and where they wanted to when we met nine years ago.
Money does not buy happiness. However, when used correctly and with discipline, it can be an amazing tool to help us build the lives we dream of and have ...
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation. Please reach out if you have questions or would like to discuss any of the details mentioned in this client’s story. Out of respect to the clients, I kept names and specific details out of this story while leaving enough information to hopefully provide value. This story would not have been written without the consent of my clients whom it I written about. And as always, everything my clients do with me is confidential at all times and is not shared with any of my other clients or people I know without their consent.
MoneyNotMath #money #retirement #RetirementPlanning #Integrity #Learning #Generosity #Relationships #Legacy #Gratitude
Tough Times Can Lead to Amazing Opportunities. Money NotMath 146 with John Ensley
How a failed business plan and everything falling apart ledto a new business opportunity for an avid sailor. Build the lifestyle you wantfor your future.
How the journey of self-discovery led to the value Johnprovides his clients= Freedom, Adventure, and Service. Are you making choicesbecause you want to make them or because you have to?
What it looks like to be a life insurance product-centricplanning company. What are your thoughts on insurance and index strategies? Doyou think insurance and investments should be integrated into a financial planor should your advisor(s) just focus on one or the other?
John believes in safety, control, and passive income. Do youagree?
It’s all about getting or doing what’s best for the clientregardless of what it’s called and how we get paid. Not trying to figure out whatwe can sell the client. Matching the right tool to the right approach isessential.
How and Why did John start his financial planning business? Gainingattention, resilience, passion, and value!
What is the best financial lesson John has ever learned?Financial Education (but be careful of marketing messages)!
What is the one piece of financial advice John would give toeveryone? DO SOMETHING! TAKE ACTION!
What is John’s definition of being successful? What does ittake to be happy?
To contact John or learn more about him go to jumponwithjohn.com
MoneyNotMath #5StoneFinancialGroup #retirement#RetirementPlanning #FinancialPlanning #gratitude #SelfDevelopment #happy#freedom #adventure #service #resilience #passion #value #marketing
Disclaimer, this content is not legal, tax, orinvestment advice. You should always consult a qualified professional regardingyour personal situation.
What is a Backdoor Roth IRA and how should I set it up? Money Not Math 145
When should you avoid this strategy?
What makes a backdoor Roth IRA Different?
Do you pay taxes on backdoor Roth IRAs?
Are backdoor Roth IRAs worth it?
How much can I contribute?
What are alternatives to backdoor Roth IRAs?
Article referenced, https://investor.vanguard.com/investor-resources-education/article/how-to-set-up-backdoor-ira#:~:text=Backdoor%20Roth%20IRA%20income%20limits&text=The%20phaseout%20occurs%20between%20%24138%2C000,for%20joint%20filers%20in%202023.
MoneyNotMath #5StoneFinancialGroup #DavidVsGoliath #Retirement #RetirementPlanning #BackdoorRothIRA #RothIRA #IRA #Roth #Taxes #Investing
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
What would a recession mean for stock returns? Money Not Math 144
Recession concerns have been a fixture in the news lately and pretty much always are because it’s easier to sell ads with negativity rather than optimism.
Investors should be aware that recession announcements are backward-looking compared to the markets that are forward-looking. In fact, recessions are often announced after the market is already on the path to recovering. Did you know the 3-year average return of the S&P500 is better after a recession has started?
Watch the video or listen to the podcast for data from 1947 and an example from 2008.
I believe investors who ignore headlines and stick to a long-term plan built for them are better positioned for success.
MoneyNotMath #Money #Retirement #RetirementPlanning #5StoneFinancialGroup #Recession #stocks #StockReturns #optimism #investors
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Secure Act 1.0 adds new considerations for spouse beneficiaries.
The spouse beneficiary is among the few eligible to take RMDs from inherited accounts over their life expectancy rather than within 10 years.
Three options available= 1) Beneficiary IRA 2) Treat-as-own 3) Rollover to their own.
Choosing the Right options: “Ultimately, which option is right for a spouse beneficiary depends on their beneficiary profile, including whether they need to avoid the 10% additional tax and/or minimize distributions.” – Denise Appleby
Article referenced: “What is the Right Option for a Spouse IRA Beneficiary?” https://www.morningstar.com/financial-advice/what-is-right-option-spouse-ira-beneficiary
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
MoneyNotMath #Money #Retirement #Beneficiaries #taxes #MemorialDay #Remember #SecureAct
“The Cost of Claiming Social Security Before Full Retirement Age… The median loss from early claiming in the present value of household lifetime discretionary spending was a whopping $182,370.”
“Why aren’t more people delaying social security claims? In 2021, 31% of retired worker claims were made by people age 62…”
“What Raising the Full Retirement Age Would Mean for Younger Workers… Every 12-month increase in the FRA roughly equates to a 6.5% cut in benefits.”
“The bottom line for today’s younger workers: If you hear a politician talking about a plan to “save” Social Security by cutting benefits, grab your wallet.”
Article quoted, “Would Raising the Full Retirement Age Really Save Social Security?” by Mark Miller https://www.morningstar.com/articles/1149457/would-raising-the-full-retirement-age-really-save-social-security?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_morningdigest&utm_content=44041
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
MoneyNotMath #Money #Retirement #RetirementPlanning #5StoneFinancialGroup #SocialSecurity #benefits
How to Invest Better and Live Better. Money Not Math 141
Referencing the 2023-Dimensional Matrix Book. David Booth, Founder and Chairman of Dimensional. - “Having a good investment experience is about more than returns. What matters just as much—maybe even more—is how people feel along their financial journey.”
The Power of Compounding by Stacey Winning, Chief Talent Officer
Control What You Can by Bryce Skaff, Co-Head of Global Client Group.
“On that fateful day, I controlled what I could by staying calm, trusting my body, and letting the doctors do their job. The experience was a reminder of how preparation, discipline, and quality professional guidance can help us weather any storm. “
Planning over Prediction By Savina Rizova, Global head of Research
Uncertainty and Opportunity by Brad Steiman, Head of Wealth Management Group, Canada
“Life’s setbacks are rarely as bad as you fear. Stay focused on the important things. The rest will come.”
The Value in Flexiblity by Bhanu Singh, CEO, Australia; Head of Asia Pacific Portfolio Management.
Disclaimer, past performance is not a guarantee of future results. Indices are not available for direct
investment; therefore, their performance does not reflect the expenses associated with the management of an actual portfolio. This is an example for conceptual learning around the power of Compounding only. This content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
MoneyNotMath #Money #5StoneFinancialGroup #Retirement #investing #wealth #enjoy #compounding #control #planning #prediction #uncertainty #opportunity #flexibility #invest #live #better
1 in 4 Americans filled out an NCAA basketball bracket. Add in all the other sports and that’s a lot of Americans guessing on the outcome of sports they can’t control.
Picking winners is hard!
An informed approach improves your odds.
Good luck and good strategy are not the same thing.
The thrill of participating in a playoff bracket or pool.
You get a fresh start in a playoff bracket each year. Unfortunately, bad decisions this year can stick with you for several years when investing.
While there are certainly similarities between March Madness or other brackets and investing. It’s crucial to understand the key differences.
The Pain of Discipline is less than the Pain of Regret!
Article referenced: “Hoop Dreaming Is Fun in March. Investing Realities Apply across a Lifetime.” By David Booth Chairman and Founder of Dimensional.
MoneyNotMath #Money #5StoneFinancialGroup #Retirement #RetirementPlanning #Investing #strategy #discipline
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
When Headlines Worry You, Bank on Investment Principles. Money Not Math 139
While every investor’s plan is a bit different, ignoring headlines and focusing on the following investment principles may help you avoid making shortsighted missteps that could cost you.
1) Uncertainty is unavoidable.
2) Market Timing is Futile.
3) “Diversification is your buddy.” – Nobel laureate Merton Miller “When the unexpected happens, many investors feel like they should be doing something with their portfolios. Often, headlines and pundits stoke these sentiments with predictions of more doom and gloom. For the long-term investor, however, planning for what can happen is far more powerful than trying to predict what will happen.” – Article referenced: When Headlines Worry You, Bank on Investment Principles by Dimensional.
4) Build your War Chest.
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
MoneyNotMath #5StoneFinancialGroup #Money #Retirement #RetirementPlanning #Investment #uncertainty #Market #MarketTiming #Diversification #Warchest
What does it feel like to make over 9% annualized return on your money? Money Not Math 138
If you had a $300,000 on 3/1/18, here’s what that looked like next 5 years:
3/1/18: $300,000
3/1/19: $317,265 (Annualized S&P 500 Return with Dividends Reinvested= 5.755%)
3/1/20: $305,923 (-3.575%)
3/1/21: $458,951 (50.022%)
3/1/22: $522,364 (13.817%)
3/1/23: $472,119 (-9.619%)
Here’s what that felt like:
3/1/19 😄 “I made over $17k”
3/1/20 😢 “I lost over $11k and COVID is happening 😨”
3/1/21 🥳 “I made over $153k!!!”
3/1/22 😄 “I made over $63k!”
3/1/23 🤬 “I lost over $50k!!”
This was roughly a 9% annualized return including dividends re-invested over a 5-year period with a total return of about $172k… but the path to get there is clearly inconsistent… AND THAT’S OKAY.
The point? Rather than try to force returns by trying to time the market or letting short-term events affect your long-term investment strategy. Allocate your money so that you can afford to stomach the volatility (build a Warchest) … Don’t risk the money that you need in the short-term, stick to your long-term plan, don’t let the short-term volatility drive your emotions, and give it time.
Here’s a link to a 5-year chart of the S&P 500 for reference: https://www.google.com/finance/quote/.INX:INDEXSP?sa=X&ved=2ahUKEwj3lvqckqX-AhVajIkEHTzTCGkQ3ecFegQIKxAg&window=5YNotice, the lowest 5-year point of the S&P 500 was during the 3/1/20-3/1/21 50% return year!
MoneyNotMath #money #retirement #RetirementPlanning #5StoneFinancialGroup #Emotions #Returns #Investing #Warchest
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation. These numbers are rounded and based on a hypothetical situation using data from https://dqydj.com/sp-500-return-calculator/ they DO NOT reflect an investor’s actual experience or predict future investor results.
How Are Our Funds Affected by the Banking Crisis? Money Not Math 137
Should we let short-term events affect our long-term strategies?
Is your portfolio diversified enough to weather the storms ahead?
Perspective is key when making any and all planning decisions.
MoneyNotMath #Retirement #RetirementPlanning #5StoneFinancialGroup #BankingCrisis #Strategy #portfolio #diversified #perspective
Morningstar article referenced: https://www.morningstar.com/articles/1144598/how-are-my-funds-affected-by-the-banking-crisis?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_morningdigest&utm_content=43347
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Want more success investing? Quit trying to make sense of investing.Money Not Math 136
Intuition usually fails us when it comes to investing. Sowhy do so many people keep trying to “beat” the market?
The arguments against Intuition
1) Emotion clouds logic and is expensive.
Average 3-year return of the index measured andreferenced after a 3-year negative period= 14.2%. 14.2% average return overthree years would grow $1,000,000 into almost $1,500,000.
Average 3-year return of the index measured andreferenced after the 25 WORST 3-year negative periods= roughly 22%. 22% averagereturn over three years would grow $1,000,000 into about $1,800,000.
Imagine how expensive it would be to yourretirement plan if you pulled your money out of the market during the bad timesand then missed out on the good times. That could be an $800,000 mistake.
2) We seek reassurance or confirmation bias fromothers who agree with us.
“using intuition to assess an investment is abit like chasing one’s own tail”- Jeffrey Ptak, CFA writer for Morningstar
3) We fail to consider what the market has already pricedin or responded to.
“Markets price in a potential scenario wellbefore we can act on it.” – Jeffrey Ptak, CFA
“The pattern is unmistakable: Returns impress,flows follow, only for performance to dramatically fall off, burning investorswho had chased returns into these funds in the first place.” – Jeffrey Ptak,CFA
4) We fool ourselves without knowing it.“There’s a wealth of research that finds we arenot reliable narrators of our own investing journeys. We have a propensity torepress painful memories, such as costly mistakes, while we exaggerate whateversuccesses we’ve achieved along the way, blowing them out of proportion.” –Jeffrey Ptak, CFA
Article referenced: https://www.morningstar.com/articles/1142320/want-to-invest-successfully-quit-trying-to-make-sense-of-it?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_morningdigest&utm_content=42938
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
MoneyNotMath #Money #5StoneFinancialGroup #Retirement#RetirementPlanning #EmptyNesters #Success #Investing #Intuition #Emotion#logic
It’s BETTER to PLAN Than Predict! Money Not Math 135
Are you #planning for what you want to happen while #preparing for what can happen?
“Don’t focus on #predicting what will happen, plan for what can happen,” Co-CEO and CIO of Dimensional, Gerard O’Reilly said.
Do you have an appropriate balance of #stocks or #equities, #bonds, and other #/investments for your situation and goals?
Are you staying #disciplined and #focused on your long term #goals so short-term events don’t throw you off track?
Over-reacting to short term events could be the single worst thing you do to negatively impact your ability to reach your long term goals.
Did you know that simply missing the 25 best single days in the market from 1990-2021 would have decreased your annualized compound return by over 5% according to Dimensional?1 That’s LESS THAN 1 day a year!
No one knows that the markets will do in the future except the markets themselves. Anyone who says otherwise is either trying to sell you something or is full of …
MoneyNotMath #Money #5StoneFinancialGroup #Retirement #RetirementPlanning #EmptyNesters
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
1 Assuming you were invested 100% into the S&P 500. Indices are not available for direct investment. Their performance does not reflect the expenses associated with the management of an actual portfolio. Past performance is not a guarantee of future results. In US dollars. For illustrative purposes. The missed best day(s) examples assume that the hypothetical portfolio fully divested its holdings at the end of the day before the missed best day(s), held cash for the missed best day(s), and reinvested the entire portfolio in the S&P 500 at the end of the missed best day(s). Annualized returns for the missed best day(s) were calculated by substituting actual returns for the missed best day(s) with zero. S&P data © 2022 S&P Dow Jones Indices LLC, a division of S&P Global. All rights reserved. “One-Month US T- Bills” is the IA SBBI US 30 Day TBill TR USD, provided by Ibbotson Associates via Morningstar Direct. Data is calculated off rounded daily index values.
What is Your True Net Worth? Money Not Math 134
Are you #worth more than your #wealth?
What are your #goals? What are your most important #relationships? What are your #values? Have you found a way to integrate your wealth with your worth to reflect that?
Do you have a #financial #plan that helps lower your #anxiety and feel better about your #life right now so you can spend #MORE #time – and #BETTER time – with the people you care about most, and #focus on what you value?
What kind of #memories are you going to leave behind? Will you feel #comfortable or #excited with what you have #accomplished?
Article referenced: “What’s Your True Net Worth?” – by David Booth Chairman and Founder of Dimensional
MoneyNotMath #Money #Retirement #RetirementPlanning #EmptyNesters #FinancialPlan
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
You are born based on your circumstances. You die based on your DECISIONS! Money Not Math 133
Either your passion will move a mountain, or your fear will create one.
Are you a buffalo or a cow?
Create the life you want rather than accepting the life you get.
Whose fault is it that our business, personal life, or financial situation is where it is today? (Ours and Ours Alone!)
Everybody is going to die. Not everybody is going to live. Are you living your best life?
The only difference between ordinary and extraordinary is EXTRA. What extra effort are you giving or going to give to build the future you dream of one millimeter at a time?
It can take up 5 years for the probiotics in your stomach to recover after an antibiotic wipes them out. If it takes 5, 10 or 15 years to get into financial or physical trouble. Why do we give up working to fix the problem in 5 minutes, 5 days, or 5 months?
There is nothing wrong with the building of a bigger home as long as the building of a bigger home doesn’t become more important than the #family that lives in it. Are you letting #financial #stress overwhelm you and negatively affect the other parts of your life like your family, #faith, #fitness, #friends or #fun? Are you clear what your financial goals are and what your strategy is to achieve them?
Starting is #fun, but the #future belongs to #finishers. The biggest reason #goals aren’t accomplished is because of #overthinking. What goals are you self-sabotaging by overthinking them rather than acting on them?
Stop #Trying and start #TRAINING!
MoneyNotMath #GrowthMindset #5StoneFinancialGroup #RetirementPlanning #Money #Retirement #Awaken #Love #Passion
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
What is your retirement income strategy? Money Not Math 132
What is your plan to make sure you don’t run out of money in retirement while enjoying retirement?
What is your plan to deal with sequence of returns risk?
Does your plan account for inflation and the rising costs of living before and during retirement?
Are you using the fixed safe withdrawal rate, 10% reduction, forgo inflation, guardrails, required minimum distribution (RMD), inflation haircut, or a different strategy?
The 5 biggest risks in retirement= Longevity, Market, Health, Family, and Policy risk.
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
MoneyNotMath #Money #5StoneFinancialGroup #Retirement #RetirementPlanning #EmptyNesters #Investing #RetirementIncome
Workplace Retirement Plan, Financial Advisor, or Both? Money Not Math 131
Do you believe Financial Advisors have a larger role to play in your retirement planning?
“We saw that a remarkable 90% of employees are interested in the support of a financial advisor to guide them through their savings options. The report also found that an overwhelming majority of employees surveyed rank employer-sponsored retirement programs and employer matching as high priority,” said Schumm.
“Our clients aren’t necessarily looking for more retirement savings options, but they do want to make sure they are allocating their retirement savings in the most tax-efficient manner possible for today and the long term,” said George Jameson, a financial planner with Blackbridge Financial in Columbia, S.C.
“Of the employers surveyed, 34% of them came to offer a retirement plan because of an advisor or accountant’s recommendation, and 47% of them said they believed advisors add the most value when educating employees about 401(k)s and investment decisions.”
Article Referenced: https://www.wealthmanagement.com/retirement-news/survey-financial-advisors-have-larger-role-play-clients-retirement-planning
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Is your memory your worst enemy? Money Not Math 130
People have memories. Markets don’t. And that’s a good thing.
Build your financial plan and start your investing with a clean slate – just like markets do every day.
Focus on controlling what you can control. Judge yourself by the quality of your decision and actions, not outcomes. There are so many factors outside your control that can, and likely will, impact investment returns.
“It can feel daunting to develop an investment plan you can stick with and determine the level of risk that’s right for you. But few things are more important than how you invest your life savings. That’s why most people would probably benefit from a financial advisor to help them talk it all out. When it comes to investing, the key is not to try to outsmart the market, but to understand how it works and use that knowledge to your advantage. The market is a great information processing machine. It runs on human ingenuity, which is why returns tend to grow over time as people work to innovate and improve the value of the companies they work for.” – People Have Memories. Markets Don’t. by David Booth.
MoneyNotMath #5StoneFinancialGroup #Money #Retirement #RetirementPlanning #Memory #Markets #StockMarket #Investing #FinancialPlan
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
What is the BEST way to Grill Steak? Money Not Math 129
Rare, Medium, Well done, or something else?
Sear and then lower the temperature, at high heat the whole time, reverse sear or something else?
Thank you, Tyler Ust, for your request on my last video for more steak content. I hope you and the others who watch or listen to this enjoy it and it brings you value.
The 9 best retirement plans according to bankrate.com and how none of them are actually a plan they are just products.
How are you building your retirement plan specific to your personal goals and situation?
Is the best retirement plan for you the same as the best one for your friend, neighbor, or family member? … Probably not.
Please let me know what you think the best way to grill steak and/or plan for retirement is in the comments!
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
What is the red stuff in steak? Money Not Math 128
Did you know the red stuff in a rare steak is NOT blood?
According to steakschool.com, “Even the rarest and reddest of steaks is actually bloodless. Instead, what you’re looking at is a combination of water, which makes up about 75 per cent of meat, and a protein found in muscle tissue called myoglobin. If that name sounds familiar, it’s probably because it sounds a bit like hemoglobin, the protein that transports oxygen in blood. Yes, there’s that word again, but myoglobin isn’t blood (honest!) – instead, its job is to transport oxygen through muscle.”
Shoutout to Vanessa Skadsem for the challenge to do this Money Not Math episode highlighting common myths or unknowns around money after our Myoglobin conversation this morning.
Common Myths around money that many believe to be true:
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The best way to pay off a house early is to apply extra payments to your mortgage.
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Qualified plans such as IRAs and 401(k)s ALWAYS provide the most attractive retirement benefits.
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Home equity has a rate of return.
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Mortgage interest is an expense that should be eliminated as soon as possible.
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Substantial equity in your home is the best way to enhance your net worth.
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Home equity is always liquid.
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All debt is bad.
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You will definitely be in a lower tax bracket when you retire than when employed.
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Life insurance should never be used to accumulate and store cash and is always a poor investment.
o This isn’t saying life insurance should always be used to accumulate and store ash and is always a great investment. Every situation is different.
- Wise investors should always choose investments that accumulate the most money.
o Or should we focus on Investments that generate the highest net spendable income?
- Only lucky people with lots of money or discretionary dollars, taking high risk and achieving high rates of return, get wealthy.
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
MoneyNotMath #5StoneFinancialGroup #money #retirement #RetirementPlanning #MoneyMyths #mortgage #MortgageInterest #HomeEquity #debt #LifeInsurance #wealth #risk
Tips for Last-Minute IRA Contributions. Money Not Math 127
Considering making a last-minute 2022 IRA contribution? Here are some tips and key dates you should know.
When is the deadline?
Should you do a traditional or Roth contribution?
What is the maximum you can contribute?
Do you qualify to contribute to a Roth IRA or receive deductions from an IRA?
Are you able to use a backdoor Roth IRA? (non-deductible IRA contribution and then convert it to a Roth)
New IRA contributions limits in 2023: $6,500 if you’re under age 50 and $7,500 if you are age 50 or over.
MoneyNotMath #5StoneFinancialGroup #Money #Retirement #IRA #IndividualRetirementAccount #roth #401k #taxes #TaxDeductions #BackdoorRoth #FinancialAdvisor
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Developing a Financial Plan You Can Stick With. Money Not Math 126
“Think back to December 2019. The economy was humming. Unemployment, interest rates, and inflation were at historically low levels. But then what happened?”
“I don’t know anyone who predicted all of that back in December 2019. But what if someone had? What would you have done?
Next question: What if that person told you that, despite all that news, the Russell 3000 would average a return of 10% a year over the next three years?4 Would you have believed them? Would you have stayed in the market?”
“The past three years were a good test of whether or not you had an investment plan that was sensible to stick with. So take a moment to think about why you did what you did, and prepare for next time. Because the next three years may be just as uncertain.”
“Even the greatest plan is no good if you can't stick with it during tough times.”
Article referenced and quoted: “This Has Been a Test: Developing a Financial Plan You Can Stick With” by David Booth chairman and Founder of Dimensional
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
MoneyNotMath #FinancialPlan #Retirement #RetirementPlanning #Money #5StoneFinancialGroup #unemployment #InterestRates #inflation
Biggest Financial Topics of 2022 and Setting Goals for 2023. Money Not Math 125
Market Volatility: “There’s not a single year when the market was always positive. There will be times throughout any year when you see the market drop,” said Wes Crill, Head of Investment Strategist at Dimensional.
Stock Performance in Recessions: Crill said. “There is no cookie-cutter recession and no absolute signal of when to get in or when to get out of the market.”
The Fed’s Impact: “The US Federal Reserve’s series of rate increases reminded investors that markets tend to incorporate such actions in prices before they are officially announced.”
Benefits of Long-Term Investing: “Investors without a solid plan (and professional guidance on how to stick with that plan) may have found themselves making some knee-jerk decisions about their money this year.”
Value bounces Back: Crill said. “But it is important for investors to balance their enthusiasm for higher expected returns with their tolerance for underperformance.”
Goals to improve in 2023
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Family: put my phone on airplane mode during family time.
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Faith: try to be the most positive person in the room and attend church more often.
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Financials: pay off all credit cards and buy a new house.
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Fitness: reach my weight goal of 185 pounds and score 45 points minimum per month.
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Friends: continuously surround myself with people who challenge me to be a better person.
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Fun: happiness is the ultimate goal of life so try to focus my time on only doing things I enjoy.
MoneyNotMath #Retirement #5StoneFinancialGroup #RetirementPlanning #Money #Finance #Goals #MarketVolatility #Recessions #Investing
Article quoted/ referenced: “Dimensional’s Takes on the Biggest Financial Topics of 2022” – Dimensional.com
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Congress wants to change how you save for retirement. Money Not Math 124
“The changes come as almost half of older workers have no retirement savings, and many who are socking away money for their golden years are far from their goals. While Americans believe they need savings of $1.25 million to live comfortably in retirement, the typical retirement account holds less than $87,000.” - https://www.cbsnews.com/news/retirement-secure-2-0-spending-bill/
Employers may match student loan repayments.
A 50% retirement match for $2,000 in savings.
Delay mandatory withdrawals until age 75.
“Pre-retirees” can sock away more money.
Automatic 401(k) enrollment.
MoneyNotMath #5StoneFinancialGroup #Money #Retirement #RetirementPlanning #Congress #StudentLoan #401k
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
7 Questions to Ask Yourself During Retirement Planning. Money Not Math 123
Have you determined if you are prepared for retirement?
Have you asked yourself these seven questions about your retirement plan? Have you found answers to these seven questions?
Would it be helpful to have a professional help you build, implement, and maintain your retirement plan?
“Many people are living longer, which means your retirement could last for decades. But that doesn’t mean you should start planning later. Developing a thoughtful plan can help you have a positive experience in retirement.”
“Everybody's assumption is you spend less in retirement,” Gondeck says. “The reality is you spend 20% to 25% more, because you have more time to spend.”
Article referenced, https://money.usnews.com/money/retirement/aging/articles/questions-to-ask-yourself-during-retirement-planning
MoneyNotMath #5stonefinancialgroup #retirement #RetirementPlanning #Investments #PositiveExperience
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Time the Market at Your Risk. Money Not Math 122
“However, when it comes to investing and money management, my fear is that faster and easier ways of investing will allow people to lose more money faster and easier.”
“The purpose of having an investment plan is so you can relax. So you don’t look at the market every day, stressing out and asking, “How’m I doing? How’m I doing?” Investors actively trading are not just potentially missing out on the expected return of the market—they’re stressed out, worrying about how the news alert they just received will impact their long-term financial health, and whether they can or should do anything about it.”
“The financial services industry has not done a good enough job educating investors that the best approach for their long-term financial well-being is to make a plan, implement it, and stick with it.”
“Picking stocks is more like gambling than investing.”
Article quoted, “Time the Market at Your Peril” – David Booth Executive Chairman and Founder of Dimensional
MoneyNotMath #5StoneFinancialGroup #Retirement #RetirementPlanning #investing #money #plan #RELAX #MarketTiming
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Are you making wild predictions in your financial planning game? Money Not Math 121
Are you trading stocks and making financial planning picks like you play Fantasy Football?
Are you taking some or all of these four steps towards financial prudence?
1) Understand the impact of your decision.
2) Think long term.
3) Know your investments.
4) Seek out a qualified financial advisor.
Article referenced: “Make Wild Predictions in Fantasy Football, Not with Your Money.”- Dimensional.com
MoneyNotMath #Retirement #RetirementPlanning #stocks #financialplanning #FantasyFootball #investments #Movember
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Do you and your Advisor trust the Stock Market? Money Not Math 120
“With over 200,000 financial advisors in the United States, how do you pick one?”
“Think of the market as a giant information processing machine. Prices change as millions of buyers and sellers react to new information coming into the market. Prices settle at “fair” values that seems reasonable to both the buyer and the seller.”
“What’s the catch in all this? It’s daunting to figure out what exactly to do, how to develop an investment plan. But you can’t avoid it. Few things are more important than developing a well-thought-out plan when investing your life savings.”
“If you accept these fundamental principles of markets and how they work, you owe it to yourself to find an advisor who does too.” - Trust the Financial Advisor Who Trusts the Market – Dimensional.com
Good luck with Deer Hunting!
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation. Diversification does not eliminate the risk of market loss.
Investments involve risks. The investment return and principal value of an investment may fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original value. Past performance is not a guarantee of future results. There is no guarantee strategies will be successful.
MoneyNotMath #Retirement #RetirementPlanning #StockMarket #Investing #Trust
Do Markets Care Who Runs Congress? Money Not Math 119
Should you change your investments according to which party wins a majority on Capitol Hill?
Are investors investing in companies or a political party?
Do you have a retirement plan that you understand and are confident in regardless of who wins in November?
MoneyNotMath #Retirement #RetirementPlanning #5StoneFinancialGroup #Markets #StockMarket #Investments
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Why We Should NOT Run from Market Fluctuations! Money Not Math 118
“Stock returns are volatile, but nearly a century of bull and bear markets shows that the good times have outshined the bad times.
The stock market’s ups and downs are unpredictable, but history supports an expectation of positive returns over the long term. For the best shot at the benefits the market can offer, stay the course.
Despite the year-to-year volatility, investors can potentially increase their chances of having a positive outcome by maintaining a long-term focus. Exhibit 2 documents the historical frequency of positive returns over rolling periods of one, five, and 10 years in the US market. The data show that, while positive performance is never assured, investors’ odds improve over longer time horizons. “ -Dimensional.com
**Correction: if you have $100,000 invested and it receives a return of 936% your money will grow to $1,036,000. Not, $936,000.
Dimensional does require you to be a member to access their articles so please contact me if you have questions or would like a copy sent to you.
MoneyNotMath #5StoneFinancialGroup #RetirementPlanning #Retirement #Money #Investing #Stocks #StockMarket
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Past performance is no guarantee of future results. Indices are not available for direct investment; therefore, their performance does not reflect the expenses associated with the management of an actual portfolio.
In USD. Chart end date is December 31, 2021; the last trough to peak return of 119% represents the return through December 2021. Due to availability of data, monthly returns are used January 1926 through December 1989; daily returns are used January 1990 through present. Periods in which cumulative return from peak is –20% or lower and a recovery of 20% from trough has not yet occurred are considered Bear markets. Bull markets are subsequent rises following the bear market trough through the next recovery of at least 20%. The chart shows bear markets and bull markets, the number of months they lasted and the associated cumulative performance for each market period. Results for different time periods could differ from the results shown. A logarithmic scale is a nonlinear scale in which the numbers shown are a set distance along the axis and the increments are a power, or logarithm, of a base number. This allows data over a wide range of values to be displayed in a condensed way.
Source: S&P data © 2022 S&P Dow Jones Indices LLC, a division of S&P Global. All rights reserved.
Dimensional Fund Advisors LP is an investment advisor registered with the Securities and Exchange Commission.
Investment products: • Not FDIC Insured • Not Bank Guaranteed • May Lose Value
Dimensional Fund Advisors does not have any bank affiliates.
What Does Midterm Elections Mean for the Stock Market? Money Not Math 117
“While the outcomes of the elections are uncertain, one thing we can count on is that plenty of opinions and prognostications will be floated in the days to come. In financial circles, this will almost assuredly include any potential for perceived impact on markets. But should long-term investors focus on midterm elections?”
“Markets Work: We would caution investors against making short-term changes to a long-term plan to try to profit or avoid losses from changes in the political winds.”
“In It for the Long Haul: While it can be easy to get distracted by month-to-month or even one-year returns, what really matters for long-term investors is how their wealth grows over longer periods of time.”
Reach out to me if you want a copy of the article referenced and if you have questions or thoughts about this discussion.
MoneyNotMath #5StoneFinancialGroup #RetirementPlanning #Retirement #Markes #investor #investing
Article quoted and referenced: https://my.dimensional.com/midterm-elections-what-do-they-mean-for-markets?_cldee=jPv8jeTf4eLenuxF6VL2OwpUJO01cINt3FFgsAFqSCJf1kIEX4uonCIVxlMrbehs&recipientid=contact-95bd0bca459bec11b400000d3a325c46-343919f7cee64a3592fcba5e086ad44f&utm_source=ClickDimensions&utm_medium=email&utm_campaign=US%20Weekly%20Digest%202022&esid=7f379d9d-763e-ed11-9db0-000d3a337986
DISCLOSURES
In USD. Indices are not available for direct investment. Their performance does not reflect the expenses associated with the management of an actual portfolio. Past performance is not a guarantee of future results. Diversification does not eliminate the risk of market loss.
There is no guarantee investment strategies will be successful. Investing involves risks, including possible loss of principal. Investors should talk to their financial advisor prior to making any investment decision. There is always the risk that an investor may lose money. A long-term investment approach cannot guarantee a profit.
All expressions of opinion are subject to change. This information is intended for educational purposes, and it is not to be construed as an offer, solicitation, recommendation, or endorsement of any particular security, products, or services.
Dimensional Fund Advisors LP is an investment advisor registered with the Securities and Exchange Commission.
Estate Planning within your Retirement Planning with Nathan Haase. Money Not Math 115
Have you properly planned for your death?
When people are doing their estate and retirement planning. What options are available for them to make sure their money and assets go where they want them to when they die?
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What typically happens to people’s estate if they don’t have an estate plan of any kind?
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Are your wills and beneficiary designations in sync?
For people who have children under the age of 18, what options do you recommend and why?
- Do you know what happens if you leave money to someone under the age of 18?
When it comes to estate planning and avoiding paying more taxes than we have to when we pass away. What estate planning options do you recommend to those who take the time to watch or listen to this conversation?
What planning should be done at the different phases of our lives?
At what level of wealth is it necessary to do tax planning within your estate plan?
Nate’s number if you have follow up questions is 218-681-7373.
MoneyNotMath #5StoneFinancialGroup #RetirementPlanning #EstatePlanning #Insurance #Investments #Trust #ProvisionalTrust
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Are your investments diversified globally? Money Not Math 114
If not, should they be?
Should you go global for diversification that travels well?
Is too much of your retirement portfolio invested in United States companies?
Good luck to the Prowlers with their homecoming game tonight!
MoneyNotMath #RetirementPlanning #5StoneFinancialGroup #Money #investments #diversify #global #portfolio
Article referenced, https://my.dimensional.com/go-global-for-diversification-that-travels-well?_cldee=gv8aFMyyr5zRd7Zxlvenl7aeUQm0ug74Q5aY1S3mVlmrgciPOU-hHvcW21dwcCQX&recipientid=contact-95bd0bca459bec11b400000d3a325c46-6becfd2a21374d44bc2516210c807fee&utm_source=ClickDimensions&utm_medium=email&utm_campaign=US%20Weekly%20Digest%202022&esid=4ffa8339-f538-ed11-9db0-000d3a5a63ba
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Are you waiting until it’s too late? Money Not Math 113
Are you waiting to get personally owned life insurance until it is too late?
Are you waiting for a major life event to occur before buying life insurance? Would if that major life event makes you unable to get life insurance so it is too late?
Did you know you can lose your group life insurance and your group life insurance doesn’t come with you when you leave your job?
Did you know that it’s life insurance awareness month?
“The global pandemic raised awareness of how fragile life is and the importance of preparing for the unexpected. According to LIMRA research, 31% of Americans say they are more likely to buy life insurance as a result of COVID-19. This is even higher across many demographics, including Millennials (44%), Black Americans (38%), and Hispanics (37%).
Our research also shows that people who own life insurance are more likely to feel financially secure. Nearly two thirds of insured Americans say they feel financially secure, compared with less than half of those uninsured.”
https://www.limra.com/en/newsroom/liam/#:~:text=September%20Is%20Life%20Insurance%20Awareness,a%20result%20of%20COVID%2D19.
MoneyNotMath #5StoneFinancialGroup #RetirementPlanning #Money #LifeInsurance #LifeInsuranceAwareness #Legacy #FinanciallySecure
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Is your family on the same page financially? Money Not Math 112
Are you and your spouse on the same page and working towards the same financial goals?
Do you both completely understand what your retirement plan is and agree on your strategies?
Do you have your wills and trusts done? Is your funeral covered financially for your loved ones when you are gone? Are your kids and loved ones aware of what your end-of-life wishes are so your estate will have a smooth transition and the government doesn’t get to decide what happens to your stuff?
Are you confident you won’t run out of money before your run out of life?
Do you have a plan to leave the legacy you dreamed of?
If you are looking for something to do tonight, come out and join us at the Thief River Golf Club for couple’s night at 5pm tonight!
Good luck to the Prowler Football team vs DGF tonight! The Gopher football teams plays as well! It’s that time of year again for beautiful weather, leaves and football.
MoneyNotMath #5StoneFinancialGroup #Money #Retirement #Family #Goals #Legacy #Golf
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
YouTube: https://youtu.be/1ZoybUlIos4
Do you have an effective Map to achieve your Retirement Plan? Money Not Math 111
Do you have a clear picture of all the financial puzzle pieces in your life and how they all fit together?
Would it be valuable to you to have an understandable Asset-Map of your current situation plus a concise plan to build the retirement you deserve?
Are other people in your life financially dependent on you? Do you have a plan to make sure they are taken care of?
Congratulations to Sara Jane Boutique on your official Grand Opening!
MoneyNotMath #5StoneFinancialGroup #Retirement #Money #Map #plan #value
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Are you planning for retirement all wrong? Money Not Math 110
The biggest risks in retirement and the mistakes we make when planning for them
The 5 big retirement risks
· Longevity risk — the risk you’ll outlive your money
· Market risk — the risk of volatility in the stock market and housing market
· Health risk — the risk of unexpected medical expenses and long-term care needs
· Family risk — the risk of things like divorce, the death of a spouse or partner and adult children becoming ill or unemployed
· Policy risk — the risk of the Social Security Trust Funds’ insolvency, leading to a 20% to 25% reduction in retirement benefits if there are no policy changes
What people fear most vs. the reality
The longevity goof we make
Market risk: Real, but not as bad as you may think
How stable lifetime income can help
- “Congress Set To Pass SECURE Act At Last Minute, Impacting Retirement Planning And Increasing Taxes.” Money Not Math https://youtu.be/0Bv-QVAc97c
Planning for health risks in retirement
What are YOU worried about?
I’d love to know: What retirement risks are you most worried about, and what are you doing about them?
5stonefinancialgroup #moneynotmath #retirement #money #investing #longevity #market #health #family #policy #risk
Article referenced: https://www.marketwatch.com/story/you-may-be-planning-for-retirement-all-wrong-11660769394
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
YouTube: https://youtu.be/zCtYG15jtCo
The Difference Between a Forecast, a Wish, and a Worry. Money Not Math 109
Are you familiar with the difference between a forecast, a wish, and a worry?
What are you basing your long-term retirement planning decisions on?
“But when it comes to investing, it’s crucial to remember the difference between news and opinion, and how they are sometimes used to forecast the future.” – David Booth
“Do you really want to invest your hard-earned savings – the money you’ll need for your kids’ college or your own retirement – based on someone’s hunch or wish?
Highlighting the Article by David Booth, Executive Chairman and Founder of Dimensional on dimensional.com
5StoneFinancialGroup #MoneyNotMath #Retirement #RetirementPlanning #forecast #wish #worry #stockmarket #investing
The Cost of Trying to Time the Market. Money Not Math 108.
“The effect of being out of the market for even a short time can be profound—missing a period of strong returns can drastically impact overall performance.”
Did you know that missing just one week in the stock market can cost you over 16% of your investment potential?
5StoneFinancialGroup #MoneyNotMath #Retirement #StockMarket
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
YouTube: https://youtu.be/ifEiXIixdJo
Is there light at the end of the Inflation Tunnel? Money Not Math 107
How has inflation affected you the most? Please comment to let me know.
At some point over the past year, the financial media’s inflation coverage transitioned
from, “Will this high inflation persist?” to, “Here’s how to cope with inflation that’s here
to stay!”
“This might be the market’s way of telling us it sees inflation getting under control in the near future.”
Please comment with your thoughts on this conversation, questions about inflation, and requests for future money not math conversations.
moneynotmath #5stonefinancialgroup #inflation #media #retirement #market #control #BEI #CPI #ConsumerPriceIndex
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
YouTube: https://youtu.be/iAy5qOYcBr0
What is more valuable to you? Your time or your money? Money Not Math 106
Which are you more likely to give? Your time or money?
Do you associate your time spent outside of work with a monetary value?
5stonefinancialgroup #moneynotmath #money #time #value #retirement
YouTube: https://youtu.be/npnu593U8wI
10 Things You Should Know about Social Security Benefits and How They May Affect Your Retirement Planning. Money Not Math 105
1) Is Social Security just for retired workers?
2) At what age can I start collecting benefits?
3) How do I sign up for Social Security?
4) How long do I need to work to become eligible for benefits?
5) Must I stop working to collect retirement benefits?
6) How much will I get from Social Security?
7) What’s the maximum monthly Social Security benefit?
8) How can I boost the amount of my benefit?
9) Can I receive Social Security benefits based on an ex-spouse’s earnings?
10) When someone dies, how does Social Security know?
- Do you know how your social security will be taxed based on your other taxable income in retirement?
5StoneFinancialGroup #MoneyNotMath #Retirement #SocialSecurity #retired #benefits
https://www.aarp.org/retirement/social-security/info-2020/social-security-questions-answered.html#:~:text=For%20retirement%20benefits%2C%20at%20least,be%20lower%20for%20disability%20benefits.
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
YouTube: https://youtu.be/2uon3YpvZiM
2 Top Takeaways on the stock market from the 2022 Morningstar Investment Conference. Money Not Math 104
According to Morningstar.com, The Morningstar Investment Conference delivers their signature research, insights, and analysis to professionals who want to empower investor success.
The two main takeaways? The first was that despite all blaring headlines you may see (which are designed to scare readers into clicking on those articles), nobody should be surprised by the downdraft in stocks and the rise in bond yields. Valuations had been high and there was lots of froth in the markets. The big declines in both markets are painful but necessary reversals. BlackRock’s Kate Moore summed it up well, by noting “a lot of the bubbles have been burst.”
That was echoed by Sarah Ketterer, chief executive of Causeway Capital Management. She told Wednesday’s session that while stocks and bonds could still fall further, “risk is actually lower than it was a year ago.”
The other big takeaway was that there’s a growing number of opportunities for long-term investors to take advantage of. We heard this from stock fund managers across the investment strategy spectrum. “When fears of recession manifest in stock prices, it can create some attractive risk-reward opportunities, “ said David Giroux from T. Rowe Price.
Remember the value in following fundamentals rather than emotions when it comes to long term investing. Fundamentals= buy low and sell high. Emotions= buy high and sell low until you are broke and there is no where to go.
5stonefinancialgroup #moneynotmath #retirement #retirementplanning #stockmarket #investment #bearmarket #risk #recession #stockprice #reward #opportunities #value #fundamentals #emotions #buylow #sellhigh #money
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
YouTube Video: https://youtu.be/VHeNakzWDr4
Whose game are you playing? Money Not Math 103.
Whose financial future and retirement are you planning for?
Would you buy the exact same clothes that I wear if I loved them?
One of the biggest mistakes I see people make when it comes to building and implementing their retirement plans is doing what their friends, family, or person they had beers with at the bar were doing because it "was working" for them. Don't end up like so many and do something because others are doing it and then kick yourself in the future because it didn't work for you. Don't feel bad if you have already fallen victim to this (I have done it too). We can't change the past, but we can certainly change how we build for the future.
"If you don't like something, change it. If you can't change it, change the way you think about it." - Mary Engelbreit
moneyotmath #5stonefinancialgroup #retirement #golf #clothes #money #investments
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
YouTube video: https://youtu.be/kzgTDnRumJY
6 Retirement Planning Issues Most People Make and How to Avoid Them. Money Not Math 102
“Get your expenses under control, start saving more, and diversify your assets. It’s the only way to enjoy a comfortable life after you retire.” - https://www.nasdaq.com/articles/6-retirement-planning-issues-most-people-make-and-how-to-avoid-them
Social Security Estimator https://www.ssa.gov/benefits/retirement/estimator.html
Youtube: https://youtu.be/7CQ8KDwmkL8
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
retirement #retirementplanning #retirementissues #moneynotmath #5stonefinancialgroup #saving #diversify
Laura Stengrim’s best financial lessons learned and advice. Money Not Math 101 clip
What are the greatest business and financial lessons Laura- Social Butterfly- has learned?
What advice would she give to other business owners?
Would social media management and marketing add value to your business?
moneynotmath #money #business #consistency #overheadcosts #timemanagement #family #corevalues
This clip’s video= https://youtu.be/UwlseJfzuIo
Full episode video= https://youtu.be/j2M6UXGQE7s
Full episode podcast= https://anchor.fm/drew-erickson7/episodes/The-value-of-social-media-marketing-for-small-businesses-with-Laura-Stengrim---Social-Butterfly--Money-Not-Math-101-e1anjs1
The value of social media marketing for small businesses with Laura Stengrim - Social Butterfly. Money Not Math 101
Find something you are passionate about to spend your time on without sacrificing your core values (in Laura’s case, time with her family). Be conscious of your overhead costs and the difference between gross profit vs. net profit.
Be willing to put some skin in the game to provide a proof of concept to your clients.
You can connect with Laura on Facebook @SocialButterflyTRF.
consistency #marketing #habits #clientretention #relationships #moneynotmath #success #socialmedia #overhead
Youtube video: https://youtu.be/j2M6UXGQE7s
Thank you! Money Not Math 100
“If you are not willing to learn, no one can help you. If you are determined to learn, no one can stop you.” -Zig Zigler
"It is almost impossible to be negative while being truly grateful"- unknown
Thank you to all my guests, Jared Mayhttps://fb.watch/8OyDcUuouE/, Scott Frickehttps://fb.watch/8OyEFy08O7/, Kelsey Sletten Brateng and Kristine Oslundhttps://fb.watch/8OyH8v5Keg/, Ross Weltehttps://fb.watch/8OyIU4t3HX/, Taitum Sorvighttps://fb.watch/8OyKmRM5q2/, Mack Carriganhttps://anchor.fm/drew-erickson7/episodes/Mack-Carrigan--Staff-Sergeant--on-his-experiences-and-recommendations-for-living-a-successful-life-in-and-out-of-the-military--Money-Not-Math-36-e9viq5, for sharing your time with me to provide value to myself and those who enjoyed our conversation.
Thank you to all my viewers with “Will the Coronavirus affect your retirement plans? Money Not Math 56” https://fb.watch/8OwMmQgw_8/ (posted 3/3/20) being my most viewed Facebook video and “Congress Set To Pass SECURE Act At Last Minute, Impacting Retirement Planning And Increasing Taxes” https://youtu.be/0Bv-QVAc97c the most viewed YouTube video.
Thank you to all my listeners with “The CARES Act allows workers to borrow up to $100,000 from their 401(k) and what you need to know about 401(k) loans before you take one. Money Not Math 64” https://anchor.fm/drew-erickson7/episodes/The-CARES-Act-allows-workers-to-borrow-up-to-100-000-from-their-401k-and-what-you-need-to-know-about-401k-loans-before-you-take-one--Money-Not-Math-64-ecfii4 being the most listened to podcast.
Thank you to those who have participated in the last 100 Money Not Math conversations and to those who will participate in the next 100+ conversations. Please comment on this post with requested future MNM topics and if you are interested in being a Money Not Math guest in the future.
thankyou #gratitude #grateful #moneynotmath #learn
Youtube: https://youtu.be/k9RjAxtIxzw
Have you considered the power of compounding and how you will use it to achieve your financial goals?
Are you sacrificing what you want long term for what is convenient today?
YouTube video: https://youtu.be/EjD3BCApN6Y
Money #MoneyNotMath #Compounding #Planning #FinancialPlanning #Goals
Gratitude! Money Not Math #98
Good luck Prowlers on your homecoming and more importantly the Gullingsrud family. You can donate @TRFTDC on Venmo.
What are you feeling grateful for today?
What will you do with the opportunities available to you?
Does anyone else want to commit to sober October with me?
What topics would you like to see covered in future Money Not Math conversations?
Podcast referenced, https://open.spotify.com/episode/7nSIrEUmtlSSYiuDQ717GD...
Family #Faith #Financials #Fitness #Friends #Fun #gratitude #soberoctober #moneynotmath #opportunity
YouTube video https://youtu.be/X2MEpnG_2Sg
Core Values= Integrity, Learning, Generosity, Relationships, Legacy, and Gratitude.
5 Stones to building a healthy and successful life= Family, Faith, Financials, Fitness, and Fun.
It isn't all about the money. Money is just a tool to help us build the life we want for ourselves.
moneynotmath #corevalues #healthy #success #life #money #planning #integrity #learning #generosity #relationsips #legacy #gratitude #family #faith #financials #fitness #fun
YouTube: https://youtu.be/amZGeM8RbJY
Confused about retirement savings plans? Here are potential options for you. Money Not Math 95
https://youtu.be/rFrdDHg6Mgg
“More than half of U.S. workers between the ages of 40 and 73 have less than $50,000 set aside for their golden years, a survey from the Insured Retirement Institute found. Nearly 6 in 10 save less than 10% of their income.”- https://www.cnbc.com/2021/09/06/how-to-choose-the-right-retirement-savings-plan.html
That’s only about $1,500/year of retirement income.
David Blanchett's 6 Predictions for Retirement Planning in 2021. Money Not Math 94
1) The search for yield will continue.
a. Is your retirement plan prepared for if taxes go up and the stock market goes down? How is your retirement plan going to keep up with inflation?
2) The robos will keep rising.
a. Would you rather be a spreadsheet to an online app or build a personalized plan with a personal advisor?
3) People will likely have to work longer, even if they don’t want to.
a. Is your retirement income plan as clear as your wealth accumulation plan?
b. Are you confident your current plan will make sure you don’t run out of money before you run out of breath?
4) An increased focus on liabilities.
a. Have you considered the difference between compounding and amortizing interest?
b. Will your budget work in retirement?
5) The search for an “easy button” will continue, despite the fact that there isn’t one.
a. Are you using rules of thumb and cookie cutter plan for yourself rather than a personalized retirement income plan?
6) Annuities, especially those focused on guaranteed income, will continue to suffer.
a. Do you agree?
b. What is your plan to make sure you do not run out of income in retirement?
College Gameday, Go Gophers! Ski-U-Mah! Row the Boat to victory and retirement! (Unfortunately, this did not upload until 12/21/20 and the Gophers lost the Ace to the Stinking Badgers in overtime.)
YouTube https://youtu.be/D15gjCDFCoo
Article referenced: https://www.thinkadvisor.com/2020/12/16/david-blanchetts-6-predictions-for-retirement-planning-in-2021/
5 Ways the Pandemic is Affecting Retirement Planning and what we can learn from it. Money Not Math 93
1) Stress levels are high.
2) Less saving for retirement.
3) Emotional decision-making.
4) Forced early retirement.
5) Less spending.
What we have learned or been reminded of= save in ways where you keep access, liquidity, use and control of your money. Plus, protect yourself before it is too late or too expensive to do so.
To confirm what I mentioned in the recording; the CARES Act allows you to withdraw up to $100,000 from your retirement accounts, penalty free and with three years to pay back to taxes, until the end of 2020.
YouTube Video: https://youtu.be/1uFBU0Tdnu8
Article referenced: https://money.usnews.com/money/retirement/aging/articles/ways-the-pandemic-is-affecting-retirement-planning
Will Biden’s tax proposal negatively affect your retirement? Money Not Math 92
“this plan would reduce the tax benefit of traditional retirement accounts for those earning above $80,250 but under $400,000, violating Biden’s tax pledge to not raise taxes on earners below the $400,000 threshold.”
YouTube: https://youtu.be/4mHZZk53v0A
Article Referenced, https://taxfoundation.org/bidens-proposal-would-shift-the-distribution-of-retirement-tax-benefits/
Details and Analysis of Democratic Presidential Nominee Joe Biden’s Tax Plan. Money Not Math 91
Have you considered how his tax plan could affect your business and future retirement planning?
Some of the highlighted details=
è Raise tax revenue by ~$3.3 trillion over the next 10 years.
è Reduce the United States GDP by 1.62%.
è Reduce the top 1% of taxpayer’s after-tax income by about 7.7%.
è Reduce the after-tax income of all other taxpayers by about 1.9% on average.
è 542,000 less full-time equivalent jobs.
è Eliminates step-up in basis for capital gains taxation.
è Almost doubles capital gains tax rates by increasing them to normal income tax rates with a maximum of 39.6% from the current maximum capital gains tax rate of 20%.
è Imposes a 12.4% social security payroll tax on income earned above $400,00.
è Reverts the top individual income tax rate for taxable incomes above $400,000 from 37% to 39.6%. Also affecting capital gains tax rates that will be raised to ordinary income tax rates.
è Expands the Child and Dependent Care Tax Credit up to $8,000/ child (maximum $16,000). Also adds additional tax credit opportunities for individuals and businesses.
è Increases the corporate income tax rate from 21% to 28%.
YouTube: https://youtu.be/h8hftItAsdI
Article referenced, https://taxfoundation.org/joe-biden-tax-plan-2020/
More information on step-up in basis, https://taxfoundation.org/step-up-in-basis/
US Debt Clock, https://www.usdebtclock.org/#
There are multiple strategies to get to the world series (retirement). Are you using the best options available for you based off your personal beliefs and goals? Money Not Math 90
The Tampa Bay Rays and LA Dodgers got to the world series through completely different strategies that worked well for them. The key is they used strategies that made sense for their financial situation and goals.
Without a plan it would have been impossible for either team to get where they are today. Do you have a personalized financial plan built for you?
YouTube: https://youtu.be/3MmsUVq-NoE
Should I pay off debt faster or save more earlier? Money Not Math 89
The importance of liquidity, use and control of your money for unexpected life events and to take advantage of wealth creating opportunities.
Have you considered the difference between compounding and amortizing interest?
In this example 5% compounding over 182 months is about 35% more efficient than paying off a 5% debt faster. In fact, in this example we would only need a 2% return on our compounding money to be more efficient than paying off a 5% debt faster.
Paying off debt faster is better than spending more. But, saving more is often better than paying off debt faster.
YouTube video: https://youtu.be/5Dd451vp7Yo
Over 600 podcast listens! Thank you everyone.
What a dumpster fire of a debate and Twins game yesterday. How comfortable are you letting your financial future be dependent on things you cannot control? Money Not Math 88.
Try not to worry about what has happened in the past. Instead focus on taking positive steps towards the future.
Are you confident your family would survive financially if you or your spouse unexpectedly died? Life insurance awareness month. Money Not Math 87.
Is it important to you to protect your family while you are alive? If yes, isn’t it equally as important to protect them once you are gone?
“Nearly 1 in 3 families said they would face financial challenges within a month if the primary wage earner died.”
“46% of Americans are uninsured and many more do not have enough coverage.”
YouTube video, https://youtu.be/4pdbcIuKpdY
LIMRA website referenced, https://www.limra.com/en/newsroom/liam/#:~:text=September%20Is%20Life%20Insurance%20Awareness%20Month&text=Despite%20the%20fact%20that%20people,do%20not%20have%20enough%20coverage.
Are you one of the 4 in 5 Americans who Lack Retirement Planning Knowledge? Money Not Math 86
Are you willing to take the “2020 Retirement Income Literacy Survey” they refer to (link below) without cheating and send me your score?
è I give a few clues in my video/podcast.
Can you guess what score I got on the survey they referred to?
Give me a call if you have questions or would like to discuss any of the topics covered in this article or within the survey.
YouTube video: https://youtu.be/K0bw98zAEjE
Article referenced https://www.thinkadvisor.com/2020/09/17/4-in-5-americans-lack-retirement-planning-knowledge-survey/
The 38-question quiz referenced from the article https://www.surveymonkey.com/r/2020-retirement-income-survey
How are you planning around your current or future social security benefits? Money Not Math 85
Do you believe social security beneficiaries get a cost of living adjustment in 2021?
YouTube video: https://youtu.be/0YTV555V9hc
Article referenced: https://www.financial-planning.com/news/senior-group-predicts-1-social-security-cola-in-2021
How to Survive as a Retiree in a Down Market. Money Not Math 84
YouTube Video https://youtu.be/QV9PSkqLtfU
Article I reviewed https://money.usnews.com/money/retirement/401ks/articles/how-to-survive-as-a-retiree-in-a-down-market
5 Crucial expenses to consider when planning for your retirement! Money Not Math 83
1) Health Care
2) Taxes
3) Long-term care
4) Providing family support
5) Not having access to your money when you need it
YouTube link for this conversation: https://youtu.be/dU8iSJVPCjg
https://www.usatoday.com/story/money/2020/07/29/making-retirement-plans-4-crucial-expenses-to-consider/112417398/
What will be your largest expense or cost in retirement? Money Not Math 82
Will it be your lifestyle, traveling, golfing, your house or…Will it be taxes?
YouTube: https://youtu.be/u_zjyJhOB8Y
Plus, some retirement planning tips from Man’s best friend.
https://www.forbes.com/sites/stevevernon/2020/07/10/retirement-planning-tips-from-mans-best-friend/#496b0b21180f
Raising kids and planning a paternity leave resolution. Money Not Math 81
https://youtu.be/AbUtmD_4Zj8
Do you have a family or financial goal you would like to achieve but have not written down yet? I strongly recommend it and am here to help if you want to build a financial plan and are looking for someone to trust.
Are investing in 529 plans the best option for you?
Are you comfortable with your home’s security system?
Do you have enough life insurance to protect your most valuable asset and your family in case you unexpectedly pass away?
è Are you protecting your most valuable asset? Money Not Math 67 with Ross Welte https://youtu.be/VFe5zfFvi_A
Do you have enough protection for your income, family, and wealth in case you get sick or hurt and cannot work?
è How would it feel to lose 25-100% of your income? Money Not Math 79 https://youtu.be/6Pzevs2JWNE
We would love to see you this Wednesday, July 15thbetween 5:30-7:30 pm at the Falls Stay and Play for our Falls Under 40 (FU40) event where there will be free appetizers and it’s a kid friendly event. http://fallsstaynplaytrf.com/
How would it feel to lose 25-100% of your income? Money Not Math 79
Can you afford to lose all or some of your income due to unexpected life events?
It is time to talk to someone you trust about your options to protect yourself, your family, and your money?
Give me a call today to learn more.
YouTube https://youtu.be/6Pzevs2JWNE
How much of your retirement wealth do you want to lose to taxes? Money Not Math 78 Clip 7
Do you want all your retirement income subject to income taxes, some of your money subject to taxes in retirement, or none of your retirement subject to taxes in retirement? Do you want to be Larry, Moe or Curly in retirement?
What is more important, your rate of return or your rate of distribution?
How much of your pie do you want to give up?
If you have any interest in learning more about mental, emotional, or physical health I recommend giving Tate Sorvig a call.
Link to this clip: https://youtu.be/IMmDNMU4t28
Links to the other clips: Tate flips the script and interviews me about What I do and WHY. Money Not Math 78 Clip 1 https://youtu.be/NRxmNXWsJWM
Why did I choose financial planning as my profession? Money Not Math 78 Clip 2 https://youtu.be/BmfGFHIUi7c
What does it look like if you meet with me for the first time? How does the conversation start and how do we determine if we should work together? Money Not Math 78 Clip 3 https://youtu.be/-15L31QwlsM
Who do I provide the most value to? Who can benefit the most by working with me? Money Not Math 78 Clip 4 https://youtu.be/_sCmcukcCIM
What are the bases that need to be covered to protect yourself, your wealth, and your family? Money Not Math 78 Clip 5 https://youtu.be/vcDzNd8mSos
Do you want to be a spender, saver, or wealth creator? Money Not Math 78 Clip 6 https://youtu.be/NclPng0DNQs
Link to the full video: Role reversal where Tate Sorvig interviews me to learn what I do. Money Not Math 78 full video https://youtu.be/oDHSos5j200
Do you want to be a spender, saver, or wealth creator? Money Not Math 78 Clip 6
I am a firm believer in Moral Capitalism, how about you?
Link to this clip: https://youtu.be/NclPng0DNQs
Links to the other clips: Tate flips the script and interviews me about What I do and WHY. Money Not Math 78 Clip 1 https://youtu.be/NRxmNXWsJWM
Why did I choose financial planning as my profession? Money Not Math 78 Clip 2 https://youtu.be/BmfGFHIUi7c
What does it look like if you meet with me for the first time? How does the conversation start and how do we determine if we should work together? Money Not Math 78 Clip 3 https://youtu.be/-15L31QwlsM
Who do I provide the most value to? Who can benefit the most by working with me? Money Not Math 78 Clip 4 https://youtu.be/_sCmcukcCIM
What are the bases that need to be covered to protect yourself, your wealth, and your family? Money Not Math 78 Clip 5 https://youtu.be/vcDzNd8mSos
How much of your retirement wealth do you want to lose to taxes? Money Not Math 78 Clip 7 https://youtu.be/IMmDNMU4t28
Link to the full video: Role reversal where Tate Sorvig interviews me to learn what I do. Money Not Math 78 full video https://youtu.be/oDHSos5j200
What are the bases that need to be covered to protect yourself, your wealth, and your family? Money Not Math 78 Clip 5
I believe my job is to educate you on what your best options are well enough that you can make confident decisions.
I am sure I forgot more than one, but one important protection topic that I forgot to mention is long term care.
Link to this clip: https://youtu.be/vcDzNd8mSos
Links to the other clips: Tate flips the script and interviews me about What I do and WHY. Money Not Math 78 Clip 1 https://youtu.be/NRxmNXWsJWM
Why did I choose financial planning as my profession? Money Not Math 78 Clip 2 https://youtu.be/BmfGFHIUi7c
What does it look like if you meet with me for the first time? How does the conversation start and how do we determine if we should work together? Money Not Math 78 Clip 3 https://youtu.be/-15L31QwlsM
Who do I provide the most value to? Who can benefit the most by working with me? Money Not Math 78 Clip 4 https://youtu.be/_sCmcukcCIM
Do you want to be a spender, saver, or wealth creator? Money Not Math 78 Clip 6 https://youtu.be/NclPng0DNQs
How much of your retirement wealth do you want to lose to taxes? Money Not Math 78 Clip 7 https://youtu.be/IMmDNMU4t28
Link to the full video: Role reversal where Tate Sorvig interviews me to learn what I do. Money Not Math 78 full video https://youtu.be/oDHSos5j200
Who do I provide the most value to? Who can benefit the most by working with me? Money Not Math 78 Clip 4
Do you believe what I believe?
Are you motivated to be successful?
Are you willing to take action to improve your life?
Are you open minded to learn new things and be different than your friends?
Are you a genuinely good person that cares about your family?
Link to this clip: https://youtu.be/_sCmcukcCIM
Links to the other clips: Tate flips the script and interviews me about What I do and WHY. Money Not Math 78 Clip 1 https://youtu.be/NRxmNXWsJWM
Why did I choose financial planning as my profession? Money Not Math 78 Clip 2 https://youtu.be/BmfGFHIUi7c
What does it look like if you meet with me for the first time? How does the conversation start and how do we determine if we should work together? Money Not Math 78 Clip 3 https://youtu.be/-15L31QwlsM
What are the bases that need to be covered to protect yourself, your wealth, and your family? Money Not Math 78 Clip 5 https://youtu.be/vcDzNd8mSos
Do you want to be a spender, saver, or wealth creator? Money Not Math 78 Clip 6 https://youtu.be/NclPng0DNQs
How much of your retirement wealth do you want to lose to taxes? Money Not Math 78 Clip 7 https://youtu.be/IMmDNMU4t28
Link to the full video: Role reversal where Tate Sorvig interviews me to learn what I do. Money Not Math 78 full video https://youtu.be/oDHSos5j200
What does it look like if you meet with me for the first time? How does the conversation start and how do we determine if we should work together? Money Not Math 78 Clip 3
How I determine if potential clients believe what I believe using the retirement pie and retirement mountain analogies. How much of your pie do you want to share? What side of the mountain do you believe is more important?
Link to this video: https://youtu.be/-15L31QwlsM
Links to the other clips: Tate flips the script and interviews me about What I do and WHY. Money Not Math 78 Clip 1 https://youtu.be/NRxmNXWsJWM
Why did I choose financial planning as my profession? Money Not Math 78 Clip 2 https://youtu.be/BmfGFHIUi7c
Who do I provide the most value to? Who can benefit the most by working with me? Money Not Math 78 Clip 4 https://youtu.be/_sCmcukcCIM
What are the bases that need to be covered to protect yourself, your wealth, and your family? Money Not Math 78 Clip 5 https://youtu.be/vcDzNd8mSos
Do you want to be a spender, saver, or wealth creator? Money Not Math 78 Clip 6 https://youtu.be/NclPng0DNQs
How much of your retirement wealth do you want to lose to taxes? Money Not Math 78 Clip 7 https://youtu.be/IMmDNMU4t28
Link to the full video: Role reversal where Tate Sorvig interviews me to learn what I do. Money Not Math 78 full video https://youtu.be/oDHSos5j200
Why did I choose financial planning as my profession? Money Not Math 78 Clip 2
Protection is not sexy, but it is just as important as the offensive side of your financial planning.
It is not just what you make, it is what you keep.
Link to this video: https://youtu.be/BmfGFHIUi7c
Links to the other clips: Tate flips the script and interviews me about What I do and WHY. Money Not Math 78 Clip 1 https://youtu.be/NRxmNXWsJWM
What does it look like if you meet with me for the first time? How does the conversation start and how do we determine if we should work together? Money Not Math 78 Clip 3 https://youtu.be/-15L31QwlsM
Who do I provide the most value to? Who can benefit the most by working with me? Money Not Math 78 Clip 4 https://youtu.be/_sCmcukcCIM
What are the bases that need to be covered to protect yourself, your wealth, and your family? Money Not Math 78 Clip 5 https://youtu.be/vcDzNd8mSos
Do you want to be a spender, saver, or wealth creator? Money Not Math 78 Clip 6 https://youtu.be/NclPng0DNQs
How much of your retirement wealth do you want to lose to taxes? Money Not Math 78 Clip 7 https://youtu.be/IMmDNMU4t28
Link to the full video: Role reversal where Tate Sorvig interviews me to learn what I do. Money Not Math 78 full video https://youtu.be/oDHSos5j200
Tate flips the script and interviews me about What I do and WHY. Money Not Math 78 Clip 1
Link to this video: https://youtu.be/NRxmNXWsJWM
Links to the other clips: Why did I choose financial planning as my profession? Money Not Math 78 Clip 2 https://youtu.be/BmfGFHIUi7c
What does it look like if you meet with me for the first time? How does the conversation start and how do we determine if we should work together? Money Not Math 78 Clip 3 https://youtu.be/-15L31QwlsM
Who do I provide the most value to? Who can benefit the most by working with me? Money Not Math 78 Clip 4 https://youtu.be/_sCmcukcCIM
What are the bases that need to be covered to protect yourself, your wealth, and your family? Money Not Math 78 Clip 5 https://youtu.be/vcDzNd8mSos
Do you want to be a spender, saver, or wealth creator? Money Not Math 78 Clip 6 https://youtu.be/NclPng0DNQs
How much of your retirement wealth do you want to lose to taxes? Money Not Math 78 Clip 7 https://youtu.be/IMmDNMU4t28
Link to the full video: https://youtu.be/oDHSos5j200
Actionable items to implement in our lives to feel better and be happier. Money Not Math 76, Clip 5 with Tate Sorvig.
1) Awareness- have the courage to question what is going on in your body.
2) Routines-exercise
3) Posture- do you have a neutral spine?
4) Breathing exercises.
5) Go outside, go outside, go outside, and go outside.
It is okay to be uncomfortable, in fact that is how we learn.
YouTube link to this clip, https://youtu.be/WXbvbZwq-_U
YouTube link to the full video of our second conversation on May 27th 2020 where this clip was pulled from https://youtu.be/recKHBGowJo
YouTube link to the full video of our first conversation back on May 6th 2020 https://youtu.be/64UNbrbZETw
The five blue zones that lead us to live happier and longer lives. Money Not Math 76, clip 4 with Tate Sorvig
1) The depths of your relationships
2) Your Mindset
3) Proper sleep
4) Nutrition
5) Exercise/movement
They are counter to our daily lives in America, so we must intentionally focus on them to live long, healthy, and happy lives. COVID19 exposed many of us and our unhealthy habits.
How many things are we doing for ourselves versus doing them because they are societal norms? What do you think about the fact that the USA life expectancy rose from 1959- 2014 before declining 3 straight years from 2014-2017 while depression and obesity skyrocket in our country?
YouTube link to this clip, https://youtu.be/-96t42lvjG0
YouTube link to the full video of our second conversation on May 27th 2020 where this clip was pulled from https://youtu.be/recKHBGowJo
YouTube link to the full video of our first conversation back on May 6th 2020 https://youtu.be/64UNbrbZETw
How do we lean into our fight or flight responses to take the first step towards improving our financial, mental, or physical health? Money Not Math 76, Clip 3 with Tate Sorvig
Let’s avoid our limiting beliefs together. If we avoid our challenges in life, we are creating more pain for ourselves. If we lean into our challenges to take a step towards improvement, what is the worst that can happen? Asking for help or working through the story with someone who can help actually decreases your pain.
YouTube link to this clip, https://youtu.be/-DNG4nSte2c
Will the stock market continue to rise, or will there be another correction soon? Will potential tax changes wipe out your gains? Money Not Math 77
What happens to your retirement income plan if the markets go down and/or taxes go up?
YouTube link to the video, https://youtu.be/YJzaYn88Xbc
*** Correction--> In the video I said, "If income taxes double to 48% on average. $1.628M in tax deferred accounts= $1,628,894.63 * 0.62=$1,009,914.67 is yours and $618,979.96 belongs to the IRS."
**Correction, $1,628,894.630.52=$847,025.21 is yours to keep and ($1,628,894.63-$847,025.21=$781,869.42 ) $781,869.42 will be owed to the IRS.
The mental health benefits of being physically active and exercising. Money Not Math 76, clip 2 with Tate Sorvig.
The reliefs that exercising can have on depression, allowing us to feel better about ourselves and live healthier lives. Plus, some healthy breathing exercising and recommendations to help with depression, anxiety and getting better sleep. The more we can take control of our mental state the more control we can take of our lives rather then trying to hold on for dear life.
I know mental health is not always a fun conversation, but it sure is an important one.
YouTube link to this clip: https://youtu.be/m_oOutt1bmk
YouTube link to the full video of our second conversation on May 27th 2020 where this clip was pulled from https://youtu.be/recKHBGowJo
YouTube link to the full video of our first conversation back on May 6th 2020 https://youtu.be/64UNbrbZETw
The Wealth of Health and Tate’s favorite ways to get exercise outside of organized exercises or routines. Money Not Math 76, Clip 1 with Tate Sorvig.
The key to living a health life= healthy routines. What routines are you using to live a healthy and happy life?
Did you know your ability to digest food is affected by the quality of your sleep?
YouTube: https://youtu.be/53gp0Mj7_G0
Here is the link to the full video of our second conversation on May 27th 2020 where this clip was pulled from https://youtu.be/recKHBGowJo
Here is the link to the full video of our first conversation back on May 6th 2020 https://youtu.be/64UNbrbZETw
Obeying our natural laws to take more control of our lives. Money Not Math 76 with Tate Sorvig
The video quality was not great, but the information is phenomenal. I highly recommend this video if you are interested in taking more control of your physical, mental, and/or financial life.
Do not worry, I know it is long so I will cut it up and release the clips in the coming days.
If you received value from our conversation please like, comment and/or share it to make sure other people can enjoy it too.
YouTube: https://youtu.be/recKHBGowJo
Here is the link to our first conversation back on May 6th2020 https://youtu.be/64UNbrbZETw
Cash Value Life Insurance Can Provide A Safe Harbor in Today's Economic Storm. Money Not Math 75.
Why we do what we do is more important that what we do. So, even though it pains me to talk about a specific “what” or tool that is used in planning. I believe this conversation is a valuable one for people who value liquidity, use and control of their money when planning for their future.
No product, tool or strategy is good or bad until compared to its alternative.
YouTube: https://youtu.be/GwA3BKyhLwY
To clarify/correct myself in the video, the Minnesota Life & Health Insurance Guaranty Association guarantees $500,000 life insurance death benefit per insured, $130,000 life insurance net cash surrender value per insured life, and more as you can find at https://www.mnlifega.org/FAQ/Print
Article referenced= https://www.forbes.com/sites/forbesfinancecouncil/2020/04/29/cash-value-life-insurance-provides-a-safe-harbor-in-todays-economic-storm/#33fbab946ba3
Common advanced planning strategies for business owners to save money in taxes and reward their employees. Money Not Math 74
Do you like simple? Do you like to be in control? Do you like tax deductions? Do you like to reward your employees?
If you answered yes to any of those questions, there may be a perfect option available for you.
YouTube: https://youtu.be/oyow2F26Ybo
The top three things a business owner should do when it comes to their bookkeeping from Jared May. Money Not Math 73
1) Keep your business expenses separate from your personal expenses.
2) Do your bank reconciliations monthly.
3) Spend time each week on your books.
Thank you Jared
YouTube: https://youtu.be/wV6HcikdJ0o
What is Tate's definition of being successful? The best ways to contact him. Money Not Math 72 Clip 7
The death bed test is a great idea.
Eat your da** vegetables.
Have quality relationships and surround yourself with good people.
YouTube https://youtu.be/scYnjqK39t8
You can contact Tate or learn more about his business at https://www.cfgreatnorth.com/, https://www.facebook.com/crossfitgreatnorth/, or his email tate@cfgreatnorth.com.
What lessons has Tate learned through his experiences? Money Not Math 72 Clip 6
Bookkeeping is a must for a business owner. Jared May, have you read the book “Profit First”?
What lesson would Tate teach his younger self right out of school? DESERVE IT!
YouTube https://youtu.be/dSXQ5FS-nJk
How and WHY Tate started his business, CrossFit Great North. Money Not Math 72 Clip 5
Congratulations on 5 years in business Tate. Even if you did forget.
Tate loves sharing his freedom with other people.
YouTube https://youtu.be/TotdHO81KNA
Who does Tate Sorvig and CrossFit Great North bring the most value to? Money Not Math 72 Clip 4
Do you want more freedom in your life?
YouTube https://youtu.be/02FZg8ByOio
How do you separate motivating people through fear vs. inspiring them to be healthy? Money Not Math 72 Clip 3 with Tate Sorvig
Do you lean into your fear or sedate yourself to avoid it?
Do you know your why?
YouTube https://youtu.be/NP2RogYMD8E
Could CrossFit Great North help you find freedom through your health and fitness? Money Not Math 72 Clip 2 with Tate Sorvig
YouTube https://youtu.be/XE4LSdERKEw
Who is Tate Sorvig? Money Not Math 72 Clip 1 with Tate Sorvig- CrossFit Great North
Get to know Tate Sorvig, the owner of CrossFit Great North in this clip of our full conversation from 5/6/20.
YouTube: https://youtu.be/rxGfSDPHmHA
Deserve It! Money Not Math 72 full conversation with Tate Sorvig- CrossFit Great North
Get to know Tate Sorvig as a person, what he does for business, who he does it for, and most importantly why he does it, in this awesome conversation I was fortunate to have with him.
YouTube: https://youtu.be/64UNbrbZETw
Please let us know if you have questions. You can contact Tate or learn more about his business at https://www.cfgreatnorth.com/, https://www.facebook.com/crossfitgreatnorth/, or his email tate@cfgreatnorth.com.
How a 403(b) and 401(k) are different from each other and different then a retirement plan. Money Not Math 71.
Are you aware of the differences between 403(b)s, 401(k)s and the other options available to grow and protect your wealth for your financial future?
Are you comfortable with giving away control of your financial future to the government and stock market?
Do the rules surrounding these so-called “tax advantaged” accounts make sense to you?
YouTube: https://youtu.be/wpiKTxiMgRM
Link to the article: https://www.foxbusiness.com/money/403b-vs-401k-retirement-plan
Keeping perspective when it comes to your financial planning and stock market volatility. Money Not Math 70
Would it be valuable to have your wealth growing and protected in a way that will not cost you money the next time the market corrects?
Would it be valuable to have your wealth growing and protected in a way where you don’t have to be stressed out about a stock market correction when you are nearing or in retirement?
Would it be valuable to plan in such a way that the money you do have invested in the market is balanced by your other assets so it could be used more efficiently with the understanding that market corrections do happen?
YouTube: https://youtu.be/Rr7bo5NLXIM
2 mistakes you could make today that will threaten your retirement savings tomorrow. Money Not Math 69
There are two types of savers, which one do you want to be?
Have you considered all of your options and the potential negative effects before taking a loan from your 401k?
YouTube: https://youtu.be/wJT9CulKez4
https://www.businessinsider.com/personal-finance/mistakes-threatening-retirement-savings-to-avoid-2020-4
Are you protecting your most valuable asset? Money Not Math 67 with Ross Welte
Our perception becomes our reality.
Planning is a process, not a product.
It is all about education. Our goal is to provide quality enough education to empower people to make confident decisions for their financial future.
There is no such thing as a good team without both quality offense and defensive planning.
YouTube: https://youtu.be/VFe5zfFvi_A
Why do we save money in the first place? What is the value of money to you? Money Not Math 66 with Ross Welte- Clip 3
YouTube https://youtu.be/t4byEQrDFYU
Are you aware of the value of your compounding curve? Are you keeping your money on your compounding curve or taking it off more than necessary? Money Not Math 66 with Ross Welte- Clip 2
Have you considered the difference between actual vs. average rate of return when planning for your financial future? Money Not Math 66 with Ross Welte- Clip 1
YouTube https://youtu.be/nPyn-CrJcJQ
Would you intentionally golf with only a driver and a putter? Then why are you doing it in your financial plan? Money Not Math 65
Hopefully this golf analogy brings you and your future financial planning value.
The CARES Act allows workers to borrow up to $100,000 from their 401(k) and what you need to know about 401(k) loans before you take one. Money Not Math 64
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$100k or 100% of “Vested” balance
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Repaying the loan
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Interest payments
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Caveats to borrowing from your group retirement account
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Borrowing from an Old Group Retirement Account
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Using your loan wisely
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Late repayment may be costly
YouTube: https://youtu.be/kmP2hCiV8nY
https://www.thestreet.com/video/cares-act-401k-retirement
https://www.thebalance.com/facts-about-401k-loans-2388811
The short- and long-term effects of the $2T stimulus bill to help us through the COVID19 Chaos. Money Not Math 63.
Do you believe the government will need more money in the future?
If they need more money in the future, do you think they will need a lot more?
And if they need a lot more money in the future, where do you think they will get it from?
How are you going to adjust your wealth accumulation and retirement planning to account for future tax changes and market fluctuations?
YouTube video: https://youtu.be/uFC3KSdNzjU
US Debt Clock: https://usdebtclock.org/
How to Calculate Roth 401(k) Withholding. Money Not Math 62.
Roth vs. Traditional retirement account contributions and what they can mean for you
Employer Matching Contributions
Tax Effects of Roth withholding
Maximum contribution limits
YouTube: https://youtu.be/QYePHhUgUbs
Link to the article: https://budgeting.thenest.com/calculate-roth-401k-withholding-24124.html
4 Retirement-Planning Tips in the Time of Coronavirus. Money Not Math 59
1) Be flexible
2) Keep extra money liquid
3) Focus on the future
4) Don’t dump your stocks
Youtube: https://youtu.be/7WGK3Nx5Fi8
https://www.fool.com/retirement/2020/03/16/4-retirement-planning-tips-in-the-time-of-coronavi.aspx
5 Tax Breaks Parents Deserve to Know About! Money Not Math 58
1) Child Tax Credit
2) Adoption Tax Credit
3) American Opportunity Tax Credit (Helping pay for kids’ college)
4) Lifetime Learning Credit (Paying for your own postsecondary education)
5) Child and Dependent Care Tax Credit (Paying for Childcare so you can work)
YouTube: https://youtu.be/IOhsVXEKOk0
https://www.fool.com/taxes/2020/02/08/attention-parents-you-dont-want-to-miss-these-5-ta.aspx
Is contributing to a Traditional or Roth account better for you? Money Not Math 57
Have you considered the pros and cons of contributing to tax-deferred (Traditional) and after-tax (Roth plus some other options) accounts to your retirement planning? Or, are you just contributing to whatever your employer automatically enrolled you in?
Are you aware of the Retirement Tax Consequences there may be in the future from where you save your money today?
Note, the numbers I used are all hypothetical and kept simple for the example. All specific situations are different and can vary depending on lifestyle and future tax changes.
Youtube: https://youtu.be/qm68TITek4g
Will the Coronavirus affect your retirement plans? Money Not Math 56
Youtube: https://youtu.be/cTw68zYw4TI
https://www.cnbc.com/2020/03/02/heres-why-the-coronavirus-may-clobber-your-retirement-plans.html
Compounding vs Amortizing Interest using $300k mortgage examples. Money Not Math 55.
Are you debating paying off your debts faster vs. saving more for the future? These examples will hopefully help you out.
YouTube: https://youtu.be/DVsdnL5hr_0
Top Hedge Fund Manager says investors should prepare for “soberingly low” returns over the next 5 to 10 years. Money Not Math 54.
Are you prepared to potentially only get 2.4% Real Return over the next 5-10 years?
Youtube: https://youtu.be/pcKlpWMfelU
Link to the article I read: https://www.marketwatch.com/story/heres-how-a-top-hedge-fund-manager-says-investors-should-prepare-for-soberingly-low-returns-2020-02-03
Mind the Gap! Are you minding the potential gaps of your retirement plan? Money Not Math 52
1) Retirement is likely to be longer than you think.
2) You may live longer than you are planning, and your employer has likely shifted the risk of your retirement onto you.
3) Social gaps and social connection are a big issue.
Youtube: https://youtu.be/QsZOuS44e_Q
https://www.forbes.com/sites/josephcoughlin/2020/02/16/mind-the-gap-these-gaps-in-your-retirement-plan-will-surprise-you/#82b76e6165d0
9 ways IRAs and Group Retirement Accounts are different. Money Not Math 51
1) IRAs are easier to obtain
2) Group Retirement Accounts may offer an employer match
3) IRAs offer more investment options
4) IRAs may require some investment knowledge
5) Group retirement accounts offer higher contribution limits
6) Traditional group retirement account contributions are always tax-deductible (Not Roth)
7) It’s easier to set up a Roth IRA
8) You can often take a loan from a group retirement account
9) A group retirement account can be more secure from creditors
YouTube: https://youtu.be/G-QVowBvWVo
https://www.bankrate.com/retirement/ira-vs-401k/
1) Spouses and delayed benefits.
2) Survivors benefits.
3) You must enroll in Medicare Part A.
4) Qualify for both retirement and survivors’ benefits.
5) Taxable income in retirement can force your social security to be (double) taxed!
YouTube: https://youtu.be/yYXfX8yAeT8
usatoday.com/story/money/columnist/powell/2020/02/10/social-security-4-quirky-rules-you-should-know-benefits/4692382002/
“My husband wants me to retire with him, but he’s 10 years older with no life insurance. What should I do?”- Marie from Scottsdale, Arizona. Money Not Math 49.
This is a great example of how to combat an all too common problem where there is an age and/or financial planning gap between spouses.
YouTube: https://youtu.be/BYKMONNhGNs
https://www.usatoday.com/story/money/2020/02/09/retirement-planning-social-security-building-income-key-widows/4678184002/
Retirement Planning Tips for five or less years before retirement… and everyone else that wants to retire someday. Money Not Math 48.
Plus, an example of the power of compounding $ over time.
YouTube: https://youtu.be/eQdJX8C9RZo
https://www.cleveland.com/business/2020/02/retirement-guide-tips-for-planning-5-years-2-years-and-1-year-before-retirement.html
Questions to ask yourself to determine if it makes sense to talk to a financial planner you trust. Money Not Math 47.
YouTube: https://youtu.be/MPtXZyfO9BQ
What are the top 3 financial planning related things you can do today that your future self will thank you for? Money Not Math 46.
Do you agree or would you say something else? Let me know.
YouTube: https://youtu.be/yPZ6OpGMg-g
You may not have as much in your retirement accounts as you think. Money Not Math 45.
Are you aware of how the SECURE Act is affecting your retirement and legacy planning?
Are you confident your retirement accounts will provide enough income for you in retirement without running out?
Did you know there are other and sometimes more efficient ways to create income in retirement than standard 401k type retirement accounts?
Note, according to Vanguard’s retirement nest egg calculator, a 6% withdrawal rate from your 401k will only have about a 49% of lasting 30 years, about 62% of lasting 25 years, and 79% of lasting 20 years. Are you comfortable with those odds of running out of money in retirement?
YouTube: https://youtu.be/-C6ULbb4bQc
https://www.marketwatch.com/story/you-may-not-have-as-much-in-your-401k-for-retirement-as-you-think-2020-02-03
https://retirementplans.vanguard.com/VGApp/pe/pubeducation/calculators/RetirementNestEggCalc.jsf
Building a Retirement Income Plan Sooner is Better than Later. Money Not Math 44
Planning for a 21st century retirement- https://www.investmentnews.com/planning-21st-century-retirement-186978
YouTube: https://youtu.be/fhvrDd7pBGY
3 Retirement Planning Blunders That May Cost You a Fortune- Katie Brockman. Money Not Math 43
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Forgetting about how taxes will affect your retirement income
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Not considering how much you're paying in retirement account fees
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Choosing the wrong financial advisor
https://www.fool.com/retirement/2020/01/23/3-retirement-planning-blunders-that-may-cost-you-a.aspx
Youtube: https://youtu.be/RI9IzqQPNCE
There is no such thing as financial planning do-overs. Instead, focus on small improvements towards reaching your goals so you don't one day wish you had a do-over. Money Not Math 42
https://finance.yahoo.com/news/baby-boomers-only-slightly-ahead-152200412.html
Youtube: https://youtu.be/AErTQdrsazs
Kelsey Brateng and Kristine Oslund's definition of success and how best to contact them or learn more- Kindred North Connection. Money Not Math 41-4
https://www.kindrednorthconnection.com/
https://youtu.be/_vsMbZyBy94
What are the financial lessons Kelsey Brateng and Kristine Oslund have learned from their experiences in life? - Kindred North Connection. Money Not Math 41-3
Make yourself uncomfortable and try to improve one step at a time.
Youtube: https://youtu.be/XdFMulzmLVk
The businesses and people Kelsey Brateng and Kristine Oslund believe they can bring the most value to- Kindred North Connection. Money Not Math 41-2
Youtube: https://youtu.be/JAUwJOS9TG8
Get to know Kelsey Brateng and Kristine Oslund and the online marketing value their business provides their clients- Kindred North Connection. Money Not Math 41-1
Youtube: https://youtu.be/XGXvByXjpY0
Kelsey Brateng and Kristine Oslund- Kindred North Connection. Money Not Math 41 Full Conversation
This is the full conversation I had with sisters Kelsey and Kristine about their business, Kindred North Connection, and how it focuses on helping other small business owners with their online marketing.
The amount of time, energy and effort they give to serving others is amazing and impressive.
I know I enjoyed the conversation, so I hope you do too.
Youtube: https://youtu.be/YMMLb5jvFf0
What’s more important, how much money your retirement plan says it is worth or how much income it will provide you in retirement?
Are you taking steps to improve your financial future?
Oh, and did you see the Twins Signed Josh Donaldson?
https://www.usatoday.com/story/money/2020/01/15/retirement-planning-americans-give-themselves-c-lower/4465141002/
YouTube Video= https://youtu.be/nFQ1n7EpOd4
How to recession-proof your retirement plans, according to retirees who made it through the Great Recession- Liz Knueven. Money Not Math 39.
https://www.businessinsider.com/how-to-recession-proof-retirement-savings-retirees-advice
Do you have balance in your financial plan?
https://youtu.be/xHN4u7sd5PQ
The One Big Reason I'm Planning to Claim Social Security at 62- Christy Bieber. Money Not Math 38.
https://www.fool.com/retirement/2020/01/12/the-one-big-reason-im-planning-to-claim-social-sec.aspx
Are you planning for what you want to happen while preparing for what could happen?
What the future looks like and how best to contact Scott Fricke- Robin Hood Business Services. Money Not Math 37 Clip 8
Scott Provides a perfect example of why it is important to be "Agile" and prepared to take advantage of opportunities.
What is Scott Fricke's- Robin Hood Business Services- definition of being successful? Money Not Math 37 Clip 7
If Scott Fricke could only give one piece of advice, what would it be? Hint: stay Agile and prepared to take advantage of opportunities. Money Not Math 37 Clip 6
What are the best financial lessons Scott Fricke has learned from his experiences Money Not Math 37 Clip 5
How and Why did Scott Fricke start Robin Hood Business Services? Money Not Math 37 Clip 4
What businesses are Robin Hood Business Services ideal clients’? Money Not Math 37 Clip 3 with Scott Fricke
What value does Robin Hood Business Services provide other business owners? Answer=Lowering costs, Increasing Quality and Hands on Support. Money Not Math 37 Clip 2 with Scott Fricke
Scott Fricke-Robin Hood Business Services. Money Not Math 37
This is the full-length conversation where we get to know Scott, how his business strives to improve other small businesses by decreasing their costs and increasing their quality, plus the lessons he has learned from his experiences.
Mack is a bad ass in the military, ultra marathon runner, and cooking savant. Plus, he has some impressive insights on how to live an emotionally and financially healthy and successful life. I definitely received value from interviewing him and hope you receive value from listening to our conversation.
RIP Stretch IRAs. Hello Ten-Year Force Out and Hello to Potentially Paying More Taxes. Money Not Math 35
Note, the SECURE Act and 2020 spending bill passed back in August but today is the cutoff for new RMD rules and the ability to use Stretch IRAs.
https://youtu.be/nmdPACCE3yQ
Is Postponing Taxes Really The Best Idea? Money Not Math 34
Are you aware of the affects taxable income has on your social security income, Medicare costs and beneficiaries if you leave them money?
https://youtu.be/CE7jwAnvrh0
Congress Set To Pass SECURE Act At Last Minute, Impacting Retirement Planning And Increasing Taxes. Money Not Math 33
https://www.forbes.com/sites/jamiehopkins/2019/12/16/congress-passes-secure-act-at-last-minute-impacting-retirement-planning-and-increasing-taxes/#14850b463a4f
401k Loans, Taxes, and Required Minimum Distributions (RMDs). Money Not Math 32.
Are you aware of how 401k loans can help or hurt you? How the timing of when you distribute money from your traditional (tax deferred) retirement accounts can cost or save you money? And, how RMDs work for your group retirement accounts?
IRAs and 401ks- Do You Know "The Rest of the Story"? Money Not Math 31
"Common Myth Conception: You Will be in a lower tax bracket when you retire than when employed.
Reality: With the 1986 Tax Reform Act and subsequent tax reform, most retirees in America will find themselves in a tax bracket at least as high-if not higher- than during their earning years."- Douglas Andrew
Are you House Rich but Cash Poor? Money Not Math 30.
What's more important, owning your home but having little cash to live. Or, owing on your home but having the liquidity and cash flow to live the lifestyle you worked hard for?
Postponing Taxes Often Increases Your Tax Liability. Money Not Math 29
Are you increasing your tax liability?