Dekker Financial Show

Are you ready to take control of your finances during life's most pivotal moments? In this episode, we'll dive into the complex world of financial decision-making during key life events. From the excitement of marriage and the joy of welcoming a new child to the challenges of divorce and the loss of a loved one, we'll provide practical tips and guidance to help you make informed decisions and maintain financial stability.   Here's some of what you'll learn in this episode:   How will you handle money in your marriage? (2:54) How can job shifts change your finances? (13:38) How will you handle finances if you lose a loved one? (22:40)   Visit us online: https://www.dekkerfinancial.com/  

We have a special guest for you this week. Dustin Schanaker is a partner at Fowler St. Clair, and he heads up the probate and estate planning team. We've been working with him for years and highly recommend him. Dustin has been an attorney at Fowler St. Clair since passing the bar exam in 2014.   In this episode, Dustin breaks down the essential components of estate planning. He discusses who is a good candidate for estate planning and debunks some common misconceptions that surround end-of-life decision-making. He also highlights the importance of proactively preparing for end-of-life choices, signing and witnessing estate planning documents correctly and periodically reviewing one's estate plan.   Here's some of what you'll learn in this episode:    How did Dustin get into estate planning? (1:41) What does an estate plan include? (6:35) Who is a good candidate for an estate plan? (11:50)   Learn more about Dustin: https://fowlerstclair.com/   Visit us online: https://www.dekkerfinancial.com/  

We have a very special episode for you today. We are talking with Virg Christoffels, Meredith's brother, and Adam's uncle. Virg may be family, but that's not the sole reason we're featuring him in today's episode. Virg is the founder of Christoffels Hair Restoration in Sioux Falls, South Dakota, and is now one of the leading hair loss studios in the world. You'll love this conversation and will come away with a lot of business tips and words to live by!    Here's some of what you'll learn in this episode:  Virg shares the book he wrote, Do Life Big. (1:31) Don't cheat yourself when it comes to taxes. (7:23) Why you need to prioritize your life. (15:01)   Get your copy of Do Life Big:  https://www.amazon.com/Do-Life-Big-Spinning-Finances/dp/1949550583 Visit us online: https://www.dekkerfinancial.com/      

We're excited to have a guest with us today, Cristi McMurdie of the Tempe-based McMurdie Law & Mediation. She is the president and sole partner of the firm and has served clients since 1995. McMurdie Law provides expert conflict resolution, mediation, collaborative representation, full representation, and limited scope representation for family law cases. From mediation to building a support group, she'll break down what's most important when divorcing your spouse in this episode.   Here's some of what you'll learn in this episode:    Where to begin when you're going through a divorce? (3:13) How do you build a support group when you're divorcing? (8:01) What's the difference between collaboration, arbitration, and mediation? (15:13)   Learn more about Cristi: https://mcmurdielaw.com/about-mcmurdie-law/ Visit us online: https://www.dekkerfinancial.com/        

Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you're eligible is the best decision for your financial future? In this episode, we'll be debunking common myths about Social Security and answering the questions you've been curious about.   Here's some of what you'll learn in this episode:  Myth: The Social Security Administration will help you make decisions. (2:17) Myth: You won't have to pay taxes on Social Security. (7:44) Myth: You should claim Social Security as soon as possible. (14:03)   Visit us online: https://www.dekkerfinancial.com/  

Are you aware that not all retirement accounts are created equal? It's crucial to understand the purpose and advantages of each type of account to make the best choice for your future. In this episode, we'll delve into the different types of retirement accounts, including 401(k)s, IRAs, Roths, and several other examples.     Here's some of what you'll learn in this episode:  What are 401(k)s, 403(b)s, & 457 plans? (8:04) What are the limits of Roths? (15:55) How do HSAs and FSAs work? (20:20)   Visit us online: https://www.dekkerfinancial.com/  

In this episode, we explore the retirement expenses that most people tend to forget, including skyrocketing medical bills, unexpected travel costs, taxes, and much more. We'll discuss practical tips and strategies to help you plan for these expenses and ensure a secure and comfortable retirement.   Here's some of what you'll learn in this episode:    A great Bill Murray quote that teaches children about taxes. (1:05) Medical expenses often cost you more than you expect. (3:29) Examples of unexpected travel expenses that often pop up. (8:02) Providing financial support for both your parents and your children, which can eat into retirement. (10:44) Are you prepared for an increase in taxes? (13:44) Does your plan account for inflation? (19:50)   Visit us online: https://www.dekkerfinancial.com/  

Retirement can come with a lot of tax questions and concerns. From understanding the tax implications of withdrawing from your retirement accounts to minimizing taxes on investment income, it can be overwhelming. On today's episode, we'll break down the top 10 tax questions retirees are asking in 2023.   Here's some of what we'll share in this episode:   What are the tax implications of withdrawing money from my retirement accounts? (3:25) Does the taxation of my pension income differ from other forms of income? (7:29) Are there any tax deductions or credits available for retirees? (11:05)   Visit us online: https://www.dekkerfinancial.com/    

After being discussed in Congress for nearly a year and a half, the SECURE Act 2.0 passed in January. On today's show, we'll explain what you need to know and learn four ways the new changes might impact you.   Here's some of what we'll share in this episode:  The Required Minimum Distribution age has been pushed back again. (3:00) What's happening with the special catch-up contribution? (8:07) Now the 529 Plan has a Roth option. (11:53)   Visit us online: https://www.dekkerfinancial.com/  

With every new year, many of us spend some time setting new goals, benchmarks, and desired milestones to achieve in the months ahead. On today's show, we'll explore some of our personal and professional goals for 2023 and explore what might be some worthwhile goals for you to add to your list. We're excited to open and share our own financial challenges and successes in this podcast.   Here's some of what we'll share in this episode: What's on your bucket list? (1:16) How can you improve personal and professional relationships? (11:08) What are your financial goals? (18:56)   Visit us online: https://www.dekkerfinancial.com/

Another year is upon us and it's a great time to ask yourself 10 questions to assess how ready you are for retirement to kick off 2023. If you're retiring this year, it's essential to have some concrete answers to these questions. If you're still a few years from the milestone, tune in so you can start thinking about these critical conversations.   Here's just some of what we'll dive into inn this episode: Do you know exactly how much income you'll need every month? (3:08) Do you know the ideal time for you to take Social Security? (9:33) Do you have a plan to combat inflation? (16:20)   Visit us online: https://www.dekkerfinancial.com/

Sometimes it might seem like talking to your financial advisor feels like talking to a therapist, and that's OK. Today we're discussing some scenarios where it's almost inevitable that a talk with your advisor seems like a counseling session. Whether you're getting a divorce or having career difficulties, your financial advisor should be there to help guide you through the financial transition. On today's show, we'll share: How we help clients through a divorce. (2:47) How we help clients through career difficulties. (8:29) How we help clients with medical problems. (16:47) Listen to more of our conversation in the podcast or reach out to us to talk about your financial situation and goals. Visit us online: https://www.dekkerfinancial.com/ Call us: 480-897-1067

Saving in your 401(k) can be an easy and painless way to build your retirement savings. But because it's so easy and painless, it can also be easy to ignore for long periods of time, which often leads to mistakes. Let's make sure you stay on the right track with your 401(k) so this episode will identify five key mistakes that people make with this retirement account. On today's show, we'll share: Leaving money invested in a former employer's 401k plan instead of rolling it over to an IRA. (8:18) Failing to rebalance often enough. (11:51) Sticking all of your money in a target date fund and assuming that your account is now “customized” to your needs. (15:59)   Visit us online: https://www.dekkerfinancial.com/ Call us: 480-897-1067

You need to make smart decisions during major life events, and we are here to help guide you. Whether it's a job change or divorce, we recommend taking your time to work everything out. Most people like to think that they always make decisions based on logic and facts, but the truth is that emotions usually play a role for all of us in the decision-making process. We'll explain how to handle big changes the right way.   Here's some of what you'll learn in this episode: How to handle a job change. (3:22) How to handle a divorce. (9:11) How to handle an inheritance. (13:30) Want to get in touch? Book an appointment online here: https://www.dekkerfinancial.com/book-appointment

If you've ever wanted to just learn a little more about investing in the stock market, this episode is for you. We're going to cover some of those terms you've probably heard before, but perhaps never truly knew what they meant. From the bid-ask spread in the stock market to bull and bear markets, we'll explain some hot topics you need to know.   Here's some of what you'll learn in this episode: The difference between the bid and the ask in the stock market. (2:04) Popular trading strategies, such as buy and hold, swing, day trading, etc. (11:22) The difference between the NASDAQ, Dow, S&P 500, and other markets. (16:29) Want to get in touch? Book an appointment online here: https://www.dekkerfinancial.com/book-appointment

As we approach the end of the year, saving money on taxes becomes a bigger focus for many people. Today we're focusing on some of the most common retirement planning questions about taxes. We'll talk about mistakes to avoid and how a proper plan can make a significant difference in your tax savings. We'll also explain why a tax deduction is not a dollar for dollar reduction.   Here's some of what you'll learn in this episode: Can you improve your tax situation as you approach retirement? (3:12) Will you have as many deductions in retirement? (6:40) What tax mistakes do people make? (12:30) Want to get in touch? Book an appointment online here: https://www.dekkerfinancial.com/book-appointment

Most people like to think that they always make decisions based on logic and facts, but the truth is that emotions usually play a role for all of us in the decision-making process. On today's show, we'll share what types of emotions are likely to drive financial decisions and some mistakes we've seen people make. We want to help you be in control of your emotions and your financial future.  Here's some of what you'll learn in this episode: Why greed is not good, no matter how the market is doing. (2:33) Why fear can cause you to make some poor investing decisions. (7:42) Why hope is not a substitute for a good financial plan. (13:12) Want to get in touch? Book an appointment online here: https://www.dekkerfinancial.com/book-appointment

It's been said that “the sales brochure giveth and the fine print taketh away.” When you look at documents, how often do you read the fine print? Many people don't. In this episode, we'll talk about some of the things we hear from people when they don't pay enough attention to the fine print. Here's some of what you'll learn in this episode: Why you might get a big rate increase on your long-term care insurance. (2:46) Why a mutual fund can tank when you get into it. (8:18) Why life insurance can suddenly get really expensive. (11:38) Want to get in touch? Book an appointment online here: https://www.dekkerfinancial.com/book-appointment

Want to know the secrets to experiencing satisfaction in retirement? We've discovered five key situations to which your financial plan needs to lead you. If you can key in on these five points, you'll have a high chance to achieve retirement satisfaction. Though satisfaction in retirement will likely vary from person to person, there are some things you'll want to check off your “Retirement To-Do” list. Let's dissect each topic so you can have a happier transition into retirement. Here's some of what you'll learn in this episode: You don't want to be too reliant on one source of income. (7:39) How you can achieve confidence in your retirement plan. (13:48) Are you preparing for complete independence in retirement? (23:39) A listener wants to know if he should start social security early to pay off his house. (28:04) Want to get in touch? Book an appointment online here: https://www.dekkerfinancial.com/book-appointment

Being a good advisor isn't about winning a popularity contest or just saying the same things that everyone else in the industry says, it's about giving the best advice that you can for each individual situation. On today's show, we're going to peel back the curtain to discuss some areas where a good financial advisor's opinions might go against the grain with mainstream ideas in the industry. Here's some of what you'll learn in this episode: What amount of risk should you be taking in your investment portfolio? (2:32) The importance of life insurance in different circumstances. (6:54) Where we stand on debt: the good and the bad. (11:55) How mutual funds can fit in someone's portfolio. (25:14) Want to get in touch? Book an appointment online here: https://www.dekkerfinancial.com/book-appointment

You've most likely heard plenty of “rules” you're supposed to follow to retire successfully. Some of these rules are stated so confidently, you'd be crazy not to immediately accept them as fact. But we don't mind the threat of being called crazy, so let's dive into some of the most popular retirement “rules of thumb” to see if they truly lead us down the path of good financial guidance or run a chance of leading us astray. Here are some of the things you'll learn in this episode: Should you follow the 75% rule? (7:06) Why the rule of 72 is a good gauge for managing expectations. (9:43) The rule of five: should we really follow the market “rules”? (12:32) Why we don't agree with the 4% rule. (19:03) Want to get in touch? Book an appointment online here: https://www.dekkerfinancial.com/book-appointment  

Don't dread this as much as you hated hearing these words as a kid, but it's time for a pop quiz! We're putting retirement planning preparedness under the microscope with 5 critical questions to which you need to know the answers. Here are some of the things you'll learn on this episode: Why you should start saving as soon as you begin working rather than paying off debt. (1:55) What percentage of your current income will you need in retirement. (5:54) What does a diversified retirement plan consist of? (12:33) What percentage should you withdraw from your portfolio each year in retirement? (15:42) Want to get in touch? Book an appointment online here: https://www.dekkerfinancial.com/book-appointment  

Today's market has forced many people to take a hard look at their portfolio and assess where their money is invested. All too often they end up realizing that they're taking on more risk than they wanted or realized. Let's see if your tolerance for risk matches your financial plan. What should you do if that balance is out of whack? What if you're a natural risk-taker, but you really shouldn't be when it comes to your finances? We'll explore all of these angles as we break down the role of risk in your financial and retirement plan.   What we discuss in this episode:  0:58 – Talking more about risk with clients 5:52 – Clients' comfort level with risk 8:27 – Does portfolio match risk tolerance? 11:41 – Identifying risk in your portfolio 16:18 – Why are people taking on unnecessary risk   18:35 – Managing risk but not eliminating growth 21:56 – How we help someone assess how much risk they need. 25:14 – Getting to Know Meredith and Adam   Visit us online: https://www.dekkerfinancial.com/

On this episode, we'll try to pick sides in some important financial debates. From bonds to life insurance, credit card debt to starting Social Security, we'll propose several different topics to see which sides of the debates you and your advisor should probably fall on. Since there's never a true answer to any debate because planning needs vary for every individual, Meredith and Adam will take on opposing viewpoints and try to explain both sides of the issue.   What we discuss in this episode:  2:13 – Always pay off your house as soon as you can. 5:58 – Nobody needs life insurance once they've retired. 10:03 – Annuities are a rip-off. 15:10 – You'll be in a lower tax bracket in retirement. Defer taxes now. 20:25 – Start Social Security as early as possible. 24:53 – Getting to Know Meredith and Adam   Visit us online: https://www.dekkerfinancial.com/

Much of the financial planning information you'll receive is about the things you should be doing, but arguably one of the most important keys to long-term success is what you aren't doing. We're all human and make mistakes, and our finances are not immune from those errors in judgment. On this episode of the podcast, we're going to highlight five different mistakes that people make with their money and explain the impact they could have on your retirement.   What we discuss in this episode:  1:16 – Car or Home? 3:14 – Fear and greed forcing you to buy or sell at wrong time 8:56 – Bad investment choices to save on taxes   11:03 – Leaving too much in cash for too long 14:01 – Overthinking every decision 18:02 – Blindly trusting financial advice   Visit us online: https://www.dekkerfinancial.com/

More and more people are considering the possibility of an early retirement but just how realistic of an option is it for you to retire at age 55? A recent Yahoo! Finance article explored that idea to see how feasible it would be for the average American. In this article they pointed out the key issues facing folks that want to retire early so we'll break down the article and get Meredith and Adam's thoughts on the challenges you'll need to overcome. For a little additional fun, we'll read off a few of the comments from the Peanut Gallery and then throw in a ‘Getting to Know You' question for the Dekkers before we finish up.   What we discuss in this episode:  2:08 – Fun Fact 3:24 – Is this a common goal?   6:42 – Income gap before Social Security 9:23 – Not able to tap into retirement accounts 11:04 – Healthcare expenses 13:02 – Importance of planning 16:33 – Article comment #1 19:16 – Article comment #2 21:12 – Article comment #3 23:35 – Article comment #4 24:09 – Getting to Know Meredith and Adam   Visit us online: https://www.dekkerfinancial.com/

There are some important terms you're going to come across as you prepare for retirement. Having a basic understanding of these will help you achieve financial success, so we'll cover what they mean and what you should know on today's episode. And don't worry. We won't go quite so far down the rabbit hole where we expect you to be able to explain how a company's P/E ratio meshes with it's Alpha and Beta ratings to determine how much stock you should buy. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

On this episode, we'll breakdown a recent CNBC article that analyzes a recent Morningstar study. The study found that most of us have at least one money bias, some of us more than one, and that those biases are very possibly costing us money in our checking, savings, investing and retirement accounts. Are you impacted by a money bias and how can you control it? CNBC Article: https://www.cnbc.com/2022/01/14/98-percent-of-americans-have-at-least-1-money-bias-study.html Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

Droves of workers are retiring early or taking a break from work as they change career paths. It's become known as The Great Resignation. On this episode, we'll highlight some of the key takeaways of a recent Forbes article and explore a lot of the impacts on retirement planning from across different age groups in the wake of this massive workplace shift that's underway. Forbes Article: https://bit.ly/3gtQu65 Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

If retirement is on your mind, then listen up to today's show for a 5-part checklist that'll help measure if you're in good financial health and setting yourself up for retirement success. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

You might not be able to follow through on all 22 of these resolutions, but implement even just a few of these and you'll be well on your way to a more prosperous financial life in the coming year. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

Let's look at the ways that some people try to cut corners in their retirement planning. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

Certainly, none of our podcast listeners would be guilty of making unreasonable requests, but let's talk about some of the unreasonable requests we hear from others in the financial world. We'll explore what makes them unreasonable and what proper expectations look like instead. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

Different types of accounts have different tax consequences. Let's talk about those advantages and disadvantages in different types of accounts and how you can use them (or not) in retirement planning. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

As you might know, Meredith carries the designation of Certified Divorce Financial Analyst and helps clients navigate the financial side of divorce. Today we want to look at that role a little deeper by answering some of the common questions she receives and helping you better understand why working with a CDFA can be a huge benefit. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

If you've ever ridden the subway in London, you've probably seen the “Mind the Gap” signs warning you to be aware of the gap between the train door and the station platform. Let's talk today about minding the gaps in retirement planning. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

Depending on your answers, the questions we cover on today's show might raise red flags about your finances. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

There's an old quote that says, “Age is the price of wisdom.” Let's talk about how that applies to the financial world. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

Most people understand that a customized retirement plan is much better than a one-size-fits-all approach. And yet, most people don't have a plan that's truly customized. Let's talk about some of the things that need to be considered if you're going to build a truly customized plan. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

Fire extinguishers, airbags in your car, and smoke alarms in your house are all examples of things in life that don't really seem to matter until they're the only thing that matters. On that rare occasion when you need one of those items, you'll either be very glad that you have one, or really regretting the fact that you don't. Let's talk about some of the things in the financial world that don't matter until they do. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

The world is stressful. Let's take a small break from it with some goofy financial planning and financial advisor jokes and see what kinds of lessons we can learn from them. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

The SECURE Act became law at the beginning of 2020 and created some significant differences in how people should plan for retirement. And while it's not law yet, there's a SECURE Act 2.0 on the horizon that could very likely become law before the end of the year. Let's talk about some of the provisions and why they could be important. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

We've surpassed the first 100 days of Joe Biden's presidency and, so far, it has already provided plenty of fodder for discussion in the financial planning realm. Let's look at some of the top issues of the past few months, how it impacts financial planning, and how conversations with clients about these issues are developing. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/

On the first episode we'll get to know your hosts Meredith Dekker and Adam Dekker a little bit better. We'll learn about their backgrounds, how they got into the financial industry, and cover what to expect on future episodes of the podcast. Contact Info: 480-897-1067 https://www.dekkerfinancial.com/