Disruptive Money Management

For many of us, we only get one shot at retirement. Because let's face it, how many times have you sat there thinking that if only you knew what you knew now about financial planning ten-fifteen-twenty years ago? That if you knew better when you were younger about how to make smarter money decisions, you would be in a much better financial position than you are now?While we may not be able to recreate our decisions, we can focus on the here and now. We can ensure that we are taking every appropriate step to drive towards a sound and secure retirement.Part 2 of Retirement Mindset is about figuring out your Social Security and pension income strategies. For many, Social Security and the pension will be the largest monthly income that a retiree has, and having the right strategy in place could determine whether you can sustain the retirement lifestyle you envisioned. The five-part Retirement Mindset series are the exact steps that Henry utilizes with his clients when determining whether they are on track for retirement. Please be sure to subscribe so that you are immediately notified of the next part of this series. Episode References:Understanding and Maximizing Social Security Benefits:https://podcasts.apple.com/us/podcast/understanding-and-maximizing-social-security-benefits/id1521325641?i=1000536704778https://open.spotify.com/episode/28fEChKCgAQgh0lJUeuhKw?si=ca3411520fdf4cc3Social Security is Running Out - Here's How Much You Can Expect to Lose in Benefits:https://podcasts.apple.com/us/podcast/social-security-is-running-out-heres-how-much-you-can/id1521325641?i=1000536006612https://open.spotify.com/episode/6D58ja5hSChlrZTGDXlUO1?si=4c469272ab114d7cAs always, if you have any deep-burning financial question that is driving you bonkers that you would like answered, feel free to drop a question to henry@juncturewealth.com

Let's face it, for most of our lives, we were taught that if we did well in school we would secure a financially stable job that would allow us to work countless hours for years on end. Yet, no where in any of those areas of education or professional training were we given an indication of how long we must work for to secure a successful retirement.In fact, the idea of having secured a successful retirement is generally unknown for most individuals until they are ready to retire. In every aspect of our professional lives, our work most likely requires certainty. The certainty that the job would be completed timely, accurately, and in totality. Yet, our retirement is often murky at best.With individuals posed to spend as much time in retirement as their working years, it is surprising the question of whether you are about to have a successful retirement isn't more of an active thought than it really is. While that may be typical, it doesn't mean you have to keep it as such. Join Henry as he takes you on a five-part series on how to best determine whether you are on track for retirement and all of the retirement questions you should be asking but have not thought to ask.The five-part episode is the exact formula that Henry uses with his clients in assessing their retirement probability ratio. If you have not once thought about your ratio of not only successfully retiring but also living through retirement then this episode is for you. Whether you plan on retiring in your thirties or your sixties, you will be given the tools and mindset needed to secure financial independence.For more information or to have the written format of this podcast, please visit www.disruptivemoneymanagement.com where all of the questions and any applicable charts are displayed. Please be sure to subscribe so that you are immediately notified of the next part of this series. If you found this information useful and believe that it could benefit a friend or a loved one who is going through these thoughts, please share the episode by hitting the Share button. As always, if you have any deep-burning financial question that is driving you bonkers that you would like answered, feel free to drop a question to henry@juncturewealth.com.

As we quickly approach the end of the year, it is crucial that we take the moment to think about our financial health and whether we have taken all of the appropriate steps to not only decrease our tax liability but also protect our family.With less than two months left before the year-end, now is the most appropriate time to check your financial affairs and ensure everything is in order. Join Henry as he goes over the financial health check-up that you should be conducting before we dive too much further into the end of the year.Additional Content:Retirement Savings for Solo EntrepreneursWhy The Defined Benefit Plan Is The Single Greatest Investment Vehicle for Business Owners

Join Henry as he goes over the financial first steps for graduating physicians and healthcare workers. In a simple five-step structure, Henry outlines the first five things graduating healthcare professionals should focus on for a pathway towards financial independence.Healthcare professionals spend an exorbitant amount of time and money to obtain their professional education. Unfortunately, while the education system may be sufficient to help prepare healthcare professionals for a career in medicine, it very rarely provides them with the necessary knowledge needed to build a foundation for their financial future. As if not knowing isn't hard enough, having disinformation from sales brokers masquerading as financial fiduciaries make what ought to be simple financial steps even more complex and costly.While this episode is geared primarily for graduating healthcare professionals wanting to structure their financial foundation, the concepts and steps can be easily implemented by any graduating individual who wants to kickstart their path to financial independence.

It's hard enough trying to get your financial house in order individually but what happens at the joining of two people? With money being the very core of almost all aspects of our lives, it's critical in today's environment that we embrace money matters together.With financial matters being one of the primary reasons why couples fight, it is best to embrace that money will be something you will have to talk about with your partner. But money talks shouldn't have to be complicated, embarrassing, or even tense. If you're ready to take the next financial step with your partner or you haven't quite really joined finances together, you can start now with these five easy topics. At the end of the day, your relationship is as strong as the way you can communicate, and breaking the barriers down early on when it comes to one of the most important aspects of our lives, you're both going to be in a much better starting position.You can catch the show notes at www.disruptivemoneymanagement.com.

Social Security checks are about to get a whole lot bigger come January 2022 but is it enough? Learn why the largest boost to Social Security in over thirty years is still not enough to retire comfortably. Additionally, be sure to ask yourselves these retirement readiness questions to check whether you're on track to financial independence. Link to "How To Calculate Whether You Have Enough Saved for Retirement":Read: https://juncture401k.com/disruptive-money-management/2021/10/3/how-to-calculate-whether-you-have-enough-saved-for-retirementAlso available on Apple Podcast, Spotify, or wherever you binge on podcasts. 

Have you ever felt that your financial life controlled you more than you control your finances? It's no secret that a majority of our life is dictated by money-how much we have and do not have, how much we need, and how much we wish we had. Monetary needs are no longer the primary driver of our economy but also of our lives. It is money that makes us do what we do because without it, rent goes unpaid and lifestyles get shifted. But why should that always be the case? Imagine a life where you are not obsessed with the need for money but rather focusing on what your life's joyous moments should be. Imagine not punching the clock until age 70 but living life on your terms knowing that you have a financial bedrock stable enough to handle all that life throws at you.If that sounds elusive, you're not alone. While the idea of financial independence may seem out of your reach, it is far from the truth. The Secret to Becoming Financially Independent is a culmination of the studies and research done on what steps are needed to create a mindset for becoming not just financially independent but also working towards early retirement. Join Henry in this latest episode as he goes over the debt ceiling dilemma our nation is facing and share with you an excerpt from The Secret to Becoming Financially Independent available for download now at Juncture 401k. 

Imagine you are needing to drive to a very important function that is a half day's drive away. How would you go about making this drive? For starters, you'll probably want to know the actual distance between where you are as well as that of your destination. You'll probably also want to know how fast you are driving so you can calculate an expected arrival time. Getting from Point A to your destination is more about knowing what the journey is like, running assumptions and accounting for variances. Getting to retirement is not unlike that. We're all working towards retirement whether that is five, ten, fifteen, or twenty years away. But how many times have we actually stopped and wondered whether we're on track? Saving and putting money away in retirement accounts is a good start but unless we know an approximation of the end result, there is no way we can tell whether what we're doing is enough. Join Henry as he goes over the retirement planning process. He'll help you understand the questions that you need to be asking yourself as well as knowing how to project whether you have saved enough for retirement. For more information, please visit www.disruptivemoneymanagement.com.

Most Americans know about Social Security because of the taxes they pay towards it but how many actually know how the benefits work and how they should file? If you do not fully understand the benefits then this was written just for you with strategies for maximizing benefits for couples, divorcees, and widows. The last episode of the depleting Social Security Trust Fund generated so many questions surrounding Social Security that we are back with a release on an in-depth understanding of Social Security as well as how best to maximize strategies for different life scenarios.Join Henry as he breaks down Social Security in a simple to understand format. By the time you're done, you should easily be able to answer the following questions:Should I collect Social Security benefits at age 62?Should I delay my Social Security benefits past FRA?What is my Social Security break-even age of collecting earlier versus postponing it?How are spousal benefits calculated?When should a non-working spouse file?I am in a committed relationship but not married; should I get married?Do spousal benefits apply to same-sex couples?What are Social Security benefits available for widows?For the show notes and more information on this topic as well as others, please check out Disruptive Money Management with Henry Wong. 

Since 1935, Social Security has been the cornerstone of retirement income for many Americans. In fact, 40% of current retirees rely completely on Social Security for income. So what happens when the Social Security Trust Fund starts to run out of money? With over 65 million Americans drawing on this benefit monthly and longevity on the rise, it was inevitable that the system would start to collapse. Well, the numbers have been released and it is not looking pretty.Join Henry as he goes over the Social Security system and how it operates. He'll be sharing with you the year in which Social Security becomes depleted and the projected reduction in benefits for retirees. Be sure to stick around to the end where he shares his best practices for assessing how much of an impact it would be to your retirement lifestyle. He'll also help you calculate what you need to adjust in terms of withdrawals to adjust for the decrease in benefit.For the show notes or more information, please visit www.juncture401k.com.

Many would think that during a coronavirus pandemic, the least of our worries is finding people willing to work but yet that is the encounter many business owners are facing this summer. The Great American Labor Shortage of 2021 is driven not only by health-related fears but also as the largest working generation, Millennials and Gen-Z shift their mindset regarding work-life balance. Join Henry as he uncovers the five most common reasons why Millennials and Gen-Z are making career changes and how business owners can best adapt to this changing tide. The five most common reasons also displays how business owners can shift with the times and offer practical solutions to not only attract but also retain talented employees in turbulent times.

Have you ever wondered whether you should sell your company stock or continue holding onto it for the long haul? What you should do ought to be based on the questions you have on your overall financial life. Remember that company stock is just an instrument to help you achieve your overall financial goals. Before deciding what to do, join Henry as he asks you the three fundamental questions relative to the financial life that you need to answer before deciding whether you sell or not.

In this latest episode of Disruptive Money Management, Henry goes over the Simple IRA plan and why for many years it was the go-to for small business for retirement solutions. While the Simple IRA may have low to no implementation cost and very minimal in employer annual administrative expense, the plan itself can be loaded with very expensive fees that can quickly add up.Henry highlights the advantages and disadvantages of the Simple IRA plan in today's modern retirement environment. A follow-on segment will bring the same level of detail for the 401(k) as well as an overarching comparison between the two.For more information or to contact Henry, please visit www.disruptivemoneymanagement.com.

Join Disruptive Money Management with Henry Wong in this latest episode on defined benefit plans. The defined benefit plan is often overlooked for retirement planning because of the complexities and intricacies involved in running a successful defined benefit plan. The defined benefit plan, otherwise known as the pension plan, has historically fallen from popularity because of the high employer cost of funding guaranteed retirement income for all of its employees. For a Fortune 500 company, this could be coverage for hundreds of thousands of employees.However; the resurgence of popularity for defined benefit plans is actually coming from small business owners and solo entrepreneurs. For high-income earners with a small business, these individuals can shelter away up to $230,000 from taxes and put it towards tax-deferred investment vehicles for retirement planning purposes.In this episode, Henry goes over the history of defined benefit plans and how they can be used to maximize retirement savings for small business owners and solo entrepreneurs. For further information, please feel free to reach Henry at www.disruptivemoneymanagement.com.

Join Henry in his latest episode on why retirement savings for solo entrepreneurs can be more easily accessible than most people think. Henry goes into the differences between the SEP IRA and the Solo 401(k) for solo entrepreneurs and how saving for retirement outside of corporate America is easier than expected. With monetization on content creation and the readily available access to digital media, solo entrepreneurship has never been higher. Solo entrepreneurs are defined as those that work for themselves and this can either be done full-time or part-time as a side hustle. Flexibility, mobility, and lack of having a boss are what's currently making solo entrepreneurship a top choice for content creators. Whether you're a graphic designer, a fitness trainer, or a Youtuber; saving for retirement is just as important With the advent of digital communication and content creation, solo entrepreneurship is seeing a resurgence in comparison to traditional 9 to 5 gigs. The solo entrepreneur is defined as those that work for themselves and this can either be done full-time or part-time as a side hustle.The millennial generation especially puts flexibility, passion, and freedom as the most important aspect of a work-life balance which is why this generation is gravitating towards becoming solo entrepreneurs.Saving for retirement is just as important when it comes to solo entrepreneurship as it is for corporate America. Additionally, there are areas where full-time and part-time entrepreneurs can dramatically save on taxes while saving more than what a traditional W-2 employee can set aside in a company-sponsored plan. For more information on Solo 401(k) Plans, please feel free to contact Henry at www.disruptivemoneymanagement.com.

Join Henry as he goes over the current housing market environment and what has led to home prices reaching all-time highs and entering into bidding wars. If you're on the fence on buying a house or have told now is the best time to buy a house, please be sure to give this a listen before diving into what will effectively become the biggest purchase of your life.While interest may be at all-time lows, the inherently low-interest rates do not necessarily mean this is the best time for you to buy. Buying a house and making that large 15 or 30-year commitment takes a level of responsibility and it should only be done for the right reasons. Do not enter into a home purchase transaction simply because you're being told that carrying a mortgage is the exact same thing as being a renter but with equity. The true cost of owning a home lies in the upfront cost and continued additional maintenance. Before buying a house, please follow the steps taken in previous episodes on eliminating your outstanding debt and getting on the path to financial freedom.

September is Life Insurance Awareness Month, and during these unprecedented times with COVID-19, protecting your family is more important than ever. Statistics show that new life insurance policies started this year has far surpassed the years before. Protecting your family from your unexpected death is simple and can be much more cost-effective than you may think. However, not all life insurance carriers are created equal, and cost for coverage can vary across different insurance companies.Tune in as Henry busts down the most common myths for life insurance and understand why term life is the best insurance product to protect your family from unexpected death. Working with an independent agent is also the most preferred way of buying term life insurance as they can comparison shop across multiple carriers for the best rate.If you're in need of insurance, you can reach out to Henry directly at www.disruptivemoneymanagement.com.

Disruptive Money Management with Henry Wong is back with another episode explaining the hottest investment trend of 2020. SPAC, or otherwise known as Special Acquisition Company have been the subject of the major media limelight. The traditional method of bringing a private company to market via IPO is still strong but even stronger still is the SPAC model. Companies such as Virgin Galactic, DraftKings, and Nikola Motors have all debuted on the public markets through SPAC vehicles. Unlike IPOs of the past, investors are no longer left on the sidelines. Retail investors can have access to these private companies by buying common stock, warrants, or units of SPACs.Join Henry as he goes over why SPACs are the hottest thing to hit Wall Street and what Main Street investors need to watch out for. For additional questions or inquiries, you can reach Henry at www.disruptivemoneymanagement.com.

In this episode, Henry goes over the steps to take in order to start investing. We all know that investing is the way to build wealth but are you doing it in a tax-efficient manner? Henry goes over why it is important to think first about taxes before just blindly opening up a trading account. Using the tax-advantaged vehicles like the 401(k) and the Roth IRA is the first place individuals should go when they are ready to start investing. It is only after having completely hit the upper limits on those two areas should a person consider individual taxable investment vehicles.In addition to tax-advantaged vehicles, Henry also goes over why the Roth IRA has a distinct advantage over the 401k even when 401k's offer a Roth component. The ability to pair stocks into your nest egg is critical for long-term growth. 401(k)'s, inherently, do not have the ability to allow for individual stock purchases and in today's COVID-19 pandemic, we are seeing individuals stocks vastly outperform mutual funds which is what is most common in 401(k) plans. For further analysis and deep dive into the broader numbers of mutual funds versus the stocks outlined, please check out the blog post at www.disruptivemoneymanagement.com.

In this episode, Henry goes over the key components for indirectly contributing to a Roth IRA. For individuals who are over the income eligibility threshold of directly contributing to the Roth IRA, there is a solution! The Backdoor Roth IRA method allows individuals to still contribute to a tax-free investment account. This process is not without hoops to jump through but the steps are easy to understand and completely do-able.For those with additional questions, please feel free to reach out to Henry at www.disruptivemoneymanagement.com. Henry would also love to hear your feedback and on additional episode topics so if you have something that's been weighing on your mind regarding your path to financial independence, drop him a line!

As a follow-up to the Traditional IRA versus the Roth IRA, Henry shares the five most common mistakes when using this investment vehicle. The Roth IRA is the quintessential wealth builder account and if you're using this to build your wealth, you want to be sure to catch this episode!Don't forget to subscribe and share with your friends and family. Disruptive Money Management is available on Apple Podcasts and Spotify. For good old-school reading, you can follow along at www.disruptivemoneymanagement.com.

Today's topic provides a much-needed update on the second stimulus check. As the unemployment number remains at record highs, Americans across the country are wondering if there is another round of stimulus money being injected into the country. Follow along as Henry goes over the Senate and House proposals on stimulus checks, expanded unemployment, and small business relief.Be sure to subscribe to Disruptive Money Management with Henry Wong on Apple Podcasts, Spotify, and check out Henry's blog at www.disruptivemoneymanagement.com

Join Henry as he goes over the age-old question of whether the Traditional IRA or the Roth IRA is best for you. By the end of this episode, you'll have a better appreciation of why the Roth IRA should be implemented as a part of your financial plan and how it can be positioned as a late-stage emergency medical fund. Disruptive Money Management with Henry Wong is designed to provide listeners an industry insider perspective on the various instruments we have to build financial wealth. Henry provides an unbiased disruptive mindset to what was considered the norm.

Henry with Disruptive Money Management breaks down the different investment options available on the TSP for Federal government employees, civil service members, and armed service members. Join him as he shares why the L-Funds are the least desirable funds to be in and how to best protect your nest egg during uncertain times without losing upside potential. Check out Henry's blog at Disruptive Money Management

Henry with Disruptive Money Management answers the age-old question of whether it makes more sense to pay off debt or invest. Have you wondered about that yourself? Household debt is the largest barrier to living a stress-free life and in this episode, Henry goes over time-tested methods of annihilating debt. Join him as he also goes over paying down student loans and whether a student loan refinance can work to your advantage.Resources for the student loan refinance can be found on Henry's blog:https://www.disruptivemoneymanagement.com/home-1/should-i-pay-off-debt-or-invest

Henry with Disruptive Money Management is back in another episode discussing the topics of what's driving the market upwards during the COVID-19 pandemic and whether investors should still investing. Join him as he goes over automated investing and why investing during the downturn is a smart strategy.

Henry with Disruptive Money Management is back to go over the five most critical items you need before you pass. Morbidity aside, an unexpected loss can leave a family in shambles, both emotionally and financially. Henry goes over why you need to protect your family with low-cost term life insurance, designate beneficiaries properly, establish a will, and assign your power of attorneys. In this episode, you'll also understand how to pass real estate assets over to beneficiaries and determine whether a trust is needed in your situation. Don't forget to check out Henry's blog at Disruptive Money Management.

Please join us for the first introductory episode of Disruptive Money Management. Hear from Henry on his path to becoming a financial advisor and why he's taking all that he knows as an industry insider and baring it all to you. Disruptive Money Management is designed to give an unbiased view on investing, insurance, and your path to financial freedom. Whether you're just starting out or looking to retire, Henry will give you the tools and knowledge that you need to make an informed decision on what undoubtedly is one of our most important aspects of life-our finance. Be sure to check out Henry's blog Disruptive Money Management