Cornerstone Retirement Blueprint Podcast

If you've ever wanted to know more about fixed index annuities, today's show is for you. We have a special guest who explains what they are, why they can help you, and how they offer stability and reliability.   TIMESTAMPS:  0:28 – Meet Rebecca 1:05 – Allianz 2:50 – Innovation 6:42 – Index thought capability 9:43 – Volatility-controlled indexes 13:00 – No additional fees   MORE INFORMATION:  https://www.cornerstonevegas.com/cornerstone-retirement-podcast/

Clients often come to us with tax questions, so we decided to hire a tax advisor last year that is available to our clients year-round. Today he's sharing his top tax tips with you.   TIMESTAMPS:  0:32 – Meet Chris Pepper 3:13 – Tax preparation process 5:19 – Chris' work history 7:08 – Tax returns 7:57 – What to bring 8:59 – Changing tax laws 10:30 – Withholdings 13:00 – Client questions 14:33 – Capital gains 18:10 – Write-offs 20:05 – Side businesses   MORE INFORMATION:  https://www.cornerstonevegas.com/cornerstone-retirement-podcast/

Medicare typically begins at age 65, but you need to know how it works long before then. On today's show, we're talking with our in-house Medicare specialist about all the things you need to know about this important topic.   TIMESTAMPS:  0:33 – Meet Julie Kovacevich 1:58 – How to qualify 3:15 – Parts A, B and D 4:52 – Deductions 6:59 – Medicare plans 10:09 – Choosing your doctor 11:20 – How to enroll 14:30 – Saving money on prescriptions 17:44 – Medicare commercials 18:55 – When to sign up? 20:42 – Review Medicare?   MORE INFORMATION:  https://www.cornerstonevegas.com/cornerstone-retirement-podcast/

We get so many questions from clients about long-term care options we decided to have a long-term care expert on today's show. She'll share some common misconceptions and what you need to know about your future care plans.   TIMESTAMPS: 1:33 – It won't happen to me 4:18 – My family will take care of me 7:01 – When to start planning 8:32 – Different types of long-term care 9:38 – Alternative plans 15:45 – Big news out of Washington state 20:09 – Asset-based long-term care   MORE INFORMATION:  https://www.cornerstonevegas.com/cornerstone-retirement-podcast/

If you want more of your hard-earned money to go into your family's pockets instead of to the IRS, today's show is for you. We'll explain why you should try an IRA Trust Trilogy.   TIMESTAMPS: 0:28 – IRA trust trilogy 1:45 – Stretch IRAs 3:46 – SECURE Act 4:55 – Three trusts 6:26 – Taxes are due 6:56 – Special needs children 9:23 – Giving children more income 13:45 – A lifetime strategy 15:09 – A sacred asset   MORE INFORMATION:  https://www.cornerstonevegas.com/cornerstone-retirement-podcast/

Today we're talking about a topic that clients ask us about a lot – what is a charitable remainder trust? How does it work? How can it benefit you? We'll share the answers in today's show.   TIMESTAMPS:  0:41 – What is a charitable remainder trust? 2:25 – Difference between donor-advised fund 3:02 – How it works 6:30 – Capital gains taxes 7:45 – Selling a business 10:19 – Tax benefits 13:52 – Leaving money to children 17:00 – Leaving 10%   MORE INFORMATION:  https://www.cornerstonevegas.com/cornerstone-retirement-podcast/

Today we're talking about a donor-advised fund. Find out how this niche charitable planning technique has helped some of our clients and could help you, too.     TIMESTAMPS:  1:27 – Donor-advised fund 4:15 – Bunching 7:42 – Why use this technique 8:40 – Super bunching 10:30 – Growth 11:42 – Highly appreciated assets   MORE INFORMATION:  https://www.cornerstonevegas.com/cornerstone-retirement-podcast/

What is the difference between a will and a trust? Find out on the difference on today's episode as well as the importance of an estate planning attorney.   TIMESTAMPS:  0:35 – Meet Jeremy 2:06 – Focusing on estate planning 2:55 – Will vs. trust 4:00 – Levels of probate 5:21 – Higher net worth 10:40 – Asset protection trusts 14:30 – LLC vs. Series LLC   MORE INFORMATION:  https://www.cornerstonevegas.com/cornerstone-retirement-podcast/

Today, we're joined by one of our core partners, Tony Parish, who is the chief investment officer for Alphastar Capital Management. Hear his thoughts on investing in 2022 and why he suggests hunkering down.   TIMESTAMPS:  1:00 – Outlook for 2022 5:02 – Interest rates and inflation 7:07 – Raising interest rates 9:22 – How will 2022 play out? 11:48 – Don't sell out of investments 12:40 – Dealing with emotions 15:08 – Clients looking for alternatives 17:09 – Moving to cash 20:25 – BetaShield vs. S&P 24:39 – Fees   MORE INFORMATION:  https://www.cornerstonevegas.com/cornerstone-retirement-podcast/

Economist, author, and retirement expert Tom Hegna joins us to share his expertise on handling finances and preparing for retirement. Find out how he helps people solve complex financial problems using easy-to-understand words.   Read more and get additional financial resources here: https://www.cornerstonevegas.com/ep-13-paychecks-and-playchecks-author-shares-top-retirement-tips/    About our guest: https://tomhegna.com/    What we discuss on this episode:  1:27 – Meet Tom 3:34 – Books 5:01 – Fixed expenses 6:03 – Transition to another paycheck 8:31 – Income 11:03 – Guaranteed sources of income 13:11 – Don't Worry, Retire Happy 14:32 – Legacy 16:57 – Long-term care 20:46 – Social Security 23:25 – Fear of tax brackets

The goal for all of us is to be able to retire at some point, but how do you know when you’re ready? Let’s take away some of that worry and concern by sharing the different types of people we work with and what it takes to get them to retirement. Show Notes, Contact & Resources: https://www.cornerstonevegas.com/cornerstone-retirement-podcast/ Timestamps: 0:50 – Why this topic today? 1:13 – A lot of people reach retirement age but say they don’t want to retire. Why is this? 3:14 – When someone’s mind doesn’t line up with what’s on paper. 5:22 – It comes down to cash flow. 7:04 – Then there are people that want to retire but aren’t ready financially. 10:32 – A lot of the answer to this depends on what you want in retirement. 11:45 – Have you ever told someone they need to work longer? 12:43 – We have tools to show you financial simulations.  

There’s a lot of confusion out there about annuities, probably because there are different types of annuities that do different things. So we’ll give you each of these types of annuities, you explain how they work and how they might be used in someone’s financial plan… Show Notes, Contact & Resources: https://www.cornerstonevegas.com/cornerstone-retirement-podcast/ Timestamps: 0:36 – We’re taking precautions in the office as things begin opening back up. 1:29 – Why annuities cause some confusion. 2:44 – We see people who are overloaded in annuities, which is a problem. 3:40 – Let’s start with the immediate annuity. 6:08 – What is a Fixed Annuity. 7:33 – Example of a client that really likes fixed annuities. 10:15 – Variable Annuity 13:26 – Are you better off just being in mutual funds? 15:34 – Fixed Indexed Annuity 18:35 – What annuities do we typically use during the planning process? 20:56 – Anthony shares a case where he’s used annuities to help a client achieve their goals.

Social Security isn’t a topic that clients are well-versed in when we first meet them, but it’s a critical component to the income planning portion of your retirement. Many factors weigh into the claiming strategy and we want to clear up many of the common misbeliefs that are out there. Show Notes, Contact & Resources: https://www.cornerstonevegas.com/cornerstone-retirement-podcast/ Timestamps: 0:47 – Why we’re talking about this topic today. 1:30 – How much do clients typically know about Social Security? 2:01 – Myth: The SSA is going to help you make the best decision to when to start your benefit. 5:36 – Myth: You won’t get any Social Security if you were a stay-at-home mom. 7:29 – Myth: You won’t pay taxes on your SS since you already paid taxes on that money when you paid into the system.   9:40 – You can be proactive to lower your tax obligations. 11:15 – Myth: There won’t be any Social Security left when you retire. 12:39 – Myth: Claim your Social Security benefit as soon as you’re eligible. 15:10 – Final thought on this topic.

Retirement planning is much like football. The closer you get to the endzone, the more important the strategy becomes. Let’s take a look at these crucial planning years and talk about what you need to be doing to avoid a critical turnover. Show Notes, Contact & Resources: https://www.cornerstonevegas.com/cornerstone-retirement-podcast/ Timestamps: 0:36 – Cornerstone got out and had a company party.   1:36 – What is the financial red zone and why is it important?  3:39 – What are some of the common mistakes that people make?  7:08 – Asset-based long-term care  7:58 – Another mistake: taking too much risk close to retirement.  9:23 – Client example of taking on too much risk. 11:50 – You shouldn’t be making audibles to your plan in the red zone. 13:03 – We see people that haven’t planned at all and they’re on the doorstep to retirement. It’s a challenge. 15:39 – Why is retirement planning easier for people that have started planning before the red zone?  16:55 – What you should be thinking about in the red zone.

When it comes to investing, there are three primary places to contribute your money based on your goals and your risk tolerance. We call these the three worlds of money and today we’ll break down each of them for you. Show Notes, Contact & Resources: https://www.cornerstonevegas.com/cornerstone-retirement-podcast/ Timestamps: 0:48 – Why we’re talking about the three worlds of money. 1:28 – Here are the three worlds. 2:27 – World 1: Banking – what are the best uses? 4:45 – What we call ‘Dry Powder’   6:08 – The pros and cons to the banking world.   7:13 – World 2: Wall Street 8:07 – The market moves up and down, but does it stay down? 8:43 – Cons of the market 12:01 – Why being overleveraged can create problems. 14:06 – World 3: Insurance – best of both worlds 16:41 – Understanding the three worlds helps you know what kind of investor you are.

The relationship with a financial advisor is one that you need to feel comfortable with and have trust in. How do you find the right person? A lot of people can do a good job for you but we’ll explain the qualities and characteristics you absolutely need from an advisor. Show Notes, Contact & Resources: https://www.cornerstonevegas.com/cornerstone-retirement-podcast/ Timestamps: 0:58 – Why are we talking about this topic? 1:43 – What kind of services should your advisor be providing you? 4:01 – Is it important that your advisors know many different areas of investing? 6:43 – An important law Nevada passed recently. 8:37 – Are there any signs that you might need a new advisor? 10:49 – Accumulating wealth and distributing that wealth are two different phases of planning. 14:42 – What can go wrong if you work with the wrong advisor for too long? 16:28 – What gets you to retirement isn’t going to get you through retirement. 17:20 – How can you determine if an advisor has the right philosophy and approach?

Our Cornerstone Retirement Blueprint Process is focused around 5 key pillars of retirement planning designed to help our clients achieve the retirement they have always dreamed of. On this episode, we’ll explain the fifth and final pillar in our process: legacy planning. Show Notes, Contact & Resources: https://www.cornerstonevegas.com/cornerstone-retirement-podcast/ Timestamps: 1:16 – Legacy planning is often not even on someone’s radar when planning begins. 2:16 – What does the conversation usually look like with clients? 4:30 – What percentage are interested in leaving a legacy? 5:52 – The basic mistakes we see people make. 8:31 – The Stretch IRA is gone now thanks to the SECURE Act. 11:03 – No trust or will is another big mistake.   12:53 – What role does the advisor play with the estate planning attorney? 15:13 – An example of how this relationship works. 15:46 – Anthony shares a client example of how we helped them with this pillar.

Our Cornerstone Retirement Blueprint Process is focused around 5 key pillars of retirement planning designed to help our clients achieve the retirement they have always dreamed of. On this episode, we’ll explain the fourth pillar in our process: healthcare planning. Show Notes, Contact & Resources: https://www.cornerstonevegas.com/cornerstone-retirement-podcast/ Timestamps: 1:11 – Let’s start with the elephant in the room. 1:43 – This is why we include this step in our five pillars. 2:36 – How prepared is the average pre-retiree is for handling healthcare costs in retirement? 4:05 – Unexpected healthcare expenses weigh the heaviest. 6:13 – Whether you realize it or not, you already have a long-term care plan. 7:04 – Story about a client in Florida. 8:21 – What’s your general advice to someone about buying some form of care? 8:54 – What strategies do you put in place to account for these costs in retirement? 11:54 – It’s purpose planning to protect you and your family. 13:19 – Will Medicare cover your long-term care needs? 14:09 – Who can help with Medicare planning? 15:47 – If you are unsure about your Medicare benefits or long-term care planning, get in touch with us.

Our Cornerstone Retirement Blueprint Process is focused around 5 key pillars of retirement planning designed to help our clients achieve the retirement they have always dreamed of. This episode is all about taxes and how we work with clients to reduce their tax liabilities in retirement. Show Notes, Contact & Resources: https://www.cornerstonevegas.com/cornerstone-retirement-podcast/ Timestamps: 1:11 – The difference between tax filing and tax planning. 2:32 – We have to be forward-looking when it comes to taxes. 5:23 – Most people believe their taxes are going to be lower in taxes. 6:58 – Why do we have this as a pillar in our planning? 8:33 – We’re assessing the taxable nature of your current holdings.   9:10 – What are some of the strategies we can use to decrease taxes? 10:17 – An example of how you would adjust your portfolio. 12:39 – Tax planning is a key way we show our worth. 13:03 – Why a lot of clients are considering Roth conversions. 14:49 – The SECURE Act has a big impact. 17:15 – What tools do we use to make sure we’re doing what’s best for the client? 19:02 – Anthony shares an example of how he helps clients with tax planning.

Our Cornerstone Retirement Blueprint Process is focused around 5 key pillars of retirement planning designed to help our clients achieve the retirement they have always dreamed of. On this episode, we’ll explain the second pillar in our process: investment planning. What can you do with the remaining assets after your income plan is in place? Show Notes, Contact & Resources: https://www.cornerstonevegas.com/cornerstone-retirement-podcast/ Timestamps: 1:36 – Once the income plan is established, what do we do with leftover funds? 2:39 – The income plan revolves around  3:22 – Finding tax efficiencies 4:42 – Benefits of a REIT 6:35 – How the Tax Reform Act helps even more. 8:40 – The other asset classes we utilize with clients.    10:35 – Structured notes issued by a-rated banks. 11:51 – There’s 10 to 11 asset classes we’ll balance in a portfolio. Here’s how we come up with that formula.   14:26 – A lot of people don’t know what kind of risk they’re taking on in their investments.   15:28 – Another software program we utilize 18:20 – Investors are concerned about fees and we try to design portfolios with that in mind. 19:48 – What we mean by ‘dry powder.’ 22:13 – Why active management can be a big benefit.         23:01 – An example of a client we helped with investment planning during the COVID pandemic.

Our Cornerstone Retirement Blueprint Process is focused around 5 key pillars of retirement planning designed to help our clients achieve the retirement they have always dreamed of. On this episode, we’re going to elaborate on the income planning process, which is a top priority for your retirement plan. Show Notes, Contact & Resources: https://www.cornerstonevegas.com/cornerstone-retirement-podcast/ Timestamps: 0:55 – If you don’t have an income plan, you don’t have a retirement plan. 1:29 – Clients don’t rely solely on Social Security. 3:08 – What does a client do if they don’t have a pension to pair with Social Security? 4:18 – How we help you determine the best way to claim your Social Security benefits. 7:00 – What are the different options when it comes to pensions? 8:49 – Another thing we factor into income planning is inflation. 11:27 – What percentage of clients have an income plan when they first meet with us? 13:34 – Carrying less debt and keeping expenses down provides more flexibility. 15:48 – An example of a client we were able to help with income planning.   18:08 – So many people focus on accumulation throughout life rather than worrying about distribution.  

After years of radio, the Cornerstone Vegas team is joining the podcasting world. Before we get rolling on financial planning conversations, we want to introduce everyone to our business, our history, and our goals for the show. Show Notes, Contact & Resources: https://www.cornerstonevegas.com/cornerstone-retirement-podcast/ Timestamps: 0:42 – COVID has been a challenging from a work standpoint as we shift to virtual. 1:36 – How the company started in 2009.   3:25 – The relationship we’ve created with clients is personal. 4:42 – Why did we go into this profession? 6:44 – Our goal is transformation rather than transaction. 7:48 – How much the business has changed over 11 years. 8:37 – Why we’re doing the podcast. 9:54 – Why we created the Cornerstone Retirement Blueprint and what it is. 11:56 – What we love about living in Vegas. 15:00 – There’s a huge retirement community here in Vegas. 16:48 – What we want listeners to get out of the show. 18:27 – Here’s how you can connect with us.