Financial Discretion Advised

Tyler Hafford and Hannah Tackett dive into the true power of compound interest in this episode of Dollars to Dreams, showing why consistent investing beats trying to time the market. Using simple analogies and real examples, they highlight how starting early—even with small amounts—can lead to massive long-term gains. But even if you're starting later, it's never too late to get on the right path. With automation, consistency, and emotional discipline, anyone can let compound interest work its magic. What you'll learn: The Mechanics of Compound Interest – What, how, and why time is your greatest asset. Consistency Over Timing – Why regular, automated investing outperforms trying to time market highs and lows. It's Never Too Late to Start – Strategies and encouragement for those who feel like they've missed the early investing window. Takeaways:   [01:45] – “Compound interest is when your interest earns interest… and then that earns more interest.” – Hannah breaks down the core concept. [05:22] – Investor A vs. Investor B – A vivid example shows how starting earlier, even with less money, can result in more wealth. [09:10] – “It's not too late if you're starting at 40 or 50.” – Encouragement for late bloomers with strategies to still take advantage of compounding. [11:18] – Dollar cost averaging explained – Tyler and Hannah highlight why investing at regular intervals beats trying to time the market. [14:03] – “Stay consistent. Don't let emotions pull you off course.” – A reminder that emotional investing often leads to missed opportunities. Got questions? We can answer them with clear, actionable strategies. Contact us at PenobscotFA.com.

In the premiere episode of Dollars to Dreams, Tyler Hafford and Hannah Tackett break down the emotional and strategic realities of market volatility. They explore why panic-selling can derail your financial goals and why staying invested through downturns is often the smartest move. Using real-world examples and behavioral insights, they offer clear, confident strategies for navigating rocky markets and even finding opportunities amid uncertainty. Key Topics Behavioral Finance & Loss Aversion – Why emotional investing leads to poor outcomes. Long-Term vs. Short-Term Thinking – The importance of sticking to your plan and avoiding market timing. Opportunity in Downturns – How volatility can be leveraged to buy undervalued assets. Episode Index [00:01:00] – "Should I sell, buy, or just do nothing?" The episode opens with the emotional triggers of market downturns and why the panic button is rarely the correct answer. [00:02:00] – Loss aversion and fear of loss make us react irrationally—Tyler and Hannah explain how our brains work against us when the market drops. [00:04:00] – Historical perspective matters: Examples from 2008 and 2020 show that markets can recover faster than expected. [00:05:00] – Missing the best days in the market can crush returns. Just 10 missed days over 20 years can cut your performance in half. [00:08:00] – Buy on sale: Downturns are the best time to invest if you have cash on hand, using strategies like dollar-cost averaging.  

Tyler Hafford CFP® has Craig Joncas CFP® join the show to discuss the Maine State Retirement Benefit. He breaks down how the benefit is calculated and how it will impact your Social Security. --- Send in a voice message: https://podcasters.spotify.com/pod/show/penobscotfa/message

In this Episode of Financial Discretion Advised, host Tyler Hafford CPF® bring in Jim Bradley CFP® to talk about when someone might know it is time to retire. They dive into some personal experiences and what they commonly see with their clients. Additionally, the two dive into the murky waters of the interest rate environment and if we might tip into recession. --- Send in a voice message: https://podcasters.spotify.com/pod/show/penobscotfa/message

On this episode of Financial Discretion Advised Tyler Hafford CFP® brings in PFA's Portfolio Manager, Sam Chaplin CFA, to discuss what impact a strong Dollar has on the market. Sam breaks down how an extremely strong Dollar has created additional headwinds on the market in 2022 and what it might mean going into 2023. --- Send in a voice message: https://anchor.fm/penobscotfa/message

In this episode of Financial Discretion Advised, Tyler Hafford CFP® brings on Lead Advisor Libby Mckay CFP® to discuss the topic of recessions and how it applies to today's environment. The two break down the current situation, how recessions have played out in the past and how it might impact your portfolio. For more information, check out Libby's blog on the topic - https://penobscotfa.com/are-we-in-a-recession/ --- Send in a voice message: https://anchor.fm/penobscotfa/message

On this episode of Financial Discretion Advised, Tyler Hafford CFP® weighs in on a popular investment strategy - Dollar Cost Averaging and why it might NOT be the best way to get your money into the market --- Send in a voice message: https://anchor.fm/penobscotfa/message

In this episode of Financial Discretion Advised, Tyler brings in PFA's Portfolio Manager, Sam Chaplin, to talk about the current market conditions and if a recession is right around the corner. The two break down the recent action from the fed, inflation and the War in Eastern Europe. --- Send in a voice message: https://anchor.fm/penobscotfa/message

In this episode of Financial Discretion Advised, Tyler Hafford CFP® talks about the rate hikes that are aimed to control inflation and how that compares to strategies used in the 80's. He also breaks down the impact of those hikes on our everyday lives. In the Financial Planning segment, Tyler explains the power of tax deferral as well as the extreme cost to delaying your investing strategy! --- Send in a voice message: https://anchor.fm/penobscotfa/message

"In this "out of schedule" podcast, Tyler Hafford, CFP® breaks down the state of the US stock market and puts the recent drawdown in historical perspective when it comes to Military Action around the world." --- Send in a voice message: https://anchor.fm/penobscotfa/message

Tune in to this Week's #FinancialDiscretionAdvised episode where Hannah shares some everyday parenting hacks to save money and Tyler reviews the financial tools available to parents. --- Send in a voice message: https://anchor.fm/penobscotfa/message

In this episode of Financial Discretion Advised Tyler brings Chief Investment Office Jim Bradley back on to discuss the current market slide, the social security system and how we might be able to fix it. Additionally, the two also breakdown how using a health savings account can make a big difference in your financial planning. Try to fix social security yourself, and make sure to leave your solutions in the comments. We would love to see how you were able to save the system! https://www.crfb.org/socialsecurityreformer/ To check out more content, make sure to visit https://penobscotfa.com/ --- Send in a voice message: https://anchor.fm/penobscotfa/message

In this Episode of Financial Discretion Advised, Tyler brings on Sam Chaplin to discuss Alternative Assets, US Mega Caps, and some financial planning moves to set 2022 for success! Listen in as Sam brings his expertise on all these topics and more! --- Send in a voice message: https://anchor.fm/penobscotfa/message

In this Episode, Tyler had Jim Bradley back on to discuss some of the recent headlines and an important end of year financial planning topic. They explore how the Omicron Variant has impacted the market, and how coronavirus as whole has impacted the market. Jim gives some insight on some of the fads in the market, specifically the Santa Claus Rally. The Financial Planning topic on this episode is Required Minimum Distributions. --- Send in a voice message: https://anchor.fm/penobscotfa/message

In this episode Tyler tackles some of the reasons for the recent rise in inflation, and how it can impact your portfolio. He also dives into the world of Crypto and how it is changing the investing landscape. The financial planning strategy on this week's episode is the Backdoor Roth. --- Send in a voice message: https://anchor.fm/penobscotfa/message

With Halloween coming up and the talk of ghosts, ghouls, skeletons, and death, Abrin and Tyler sit down to talk about estate planning strategies. Sit back relax and enjoy the conversation which also touches on favorite Halloween candies and the headlines about the debt ceiling, a trillion dollar coin, and Facebook being back in the news. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Abrin and Tyler discuss a variety of topics while answering common questions the advisors of our firm get all the time. Listen along and maybe grab an answer to a question that has been on your mind then submit your own questions. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Abrin and Tyler have sifted through the news and picked out a few topics directly and indirectly tied to the markets and the economy for discussion. We've got inflation, we've got used cars, we've got a new jobs report, Robinhood IPOing, and Bezos making it to space all on the docket so tune in! --- Send in a voice message: https://anchor.fm/penobscotfa/message

As we commemorate the Fourth of July and the Declaration of Independence, Abrin and Tyler revisit why independence is important as an advisor and talk about financial independence in the context of the declaration. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Abrin and Tyler have some fun with 10 small things anyone can do to help better their financial situation. 1. Pay yourself first 2. Bucket your money 3. Automate savings 4. Avoid investment fads 5. Take free money 6. Avoid the daily latte 7. Create a budget 8. Earn cash back using credit (responsibly) 9. Shop around 10. Buy wholesale/meal prep Plus one bonus tip snuck in there! --- Send in a voice message: https://anchor.fm/penobscotfa/message

With a little distance between them, Tyler in the Bangor office and Abrin in the Podcast room, the two discuss UMaine plan topics specific to a large subset of our firm's clients: University of Maine Employees. Strap in because this episode contains bad jokes and dad jokes - you have been warned. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Tyler and Abrin tackle the tax implications of withdrawing money from different types of investment accounts and take a deeper look at capital gains for taxable accounts. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Tyler is out and Sam is in for this episode on inflation. Come meet another member of the team as Abrin and Sam talk about a pressing concern in today's environment: inflation. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Special Guest Craig Joncas joins Abrin and Tyler to talk how financial advisors get paid. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Jim Bradley enters the arena to discuss ESG investing with Abrin and Tyler. Join to learn more about how ESG investing has progressed over the years and how it can be incorporated into an investment strategy. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Abrin and Tyler talk about the current state of the Maine Real Estate market, mortgage rates, and more on today's episode of Financial Discretion Advised. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Tyler and Abrin are back to banter as they discuss the basic principles, fads, management styles, and transitioning to withdrawing assets in retirement. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Craig Joncas joins Abrin and Tyler to talk about Roth Conversions and Roth Conversion Strategies. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Hello, hello! We hope everyone had a Happy New Year on this holiday themed episode. We are ringing in the new year with new mics and some tips on how to achieve financially related New Year's resolutions. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Abrin and Tyler discuss Thanksgiving dinner table financial planning questions and what planning tools they are thankful for this year. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Roth Conversions, Charitable Contributions, Tax Loss and Gain Harvesting... Oh my! --- Send in a voice message: https://anchor.fm/penobscotfa/message

Special Guest Jim Bradley joins Abrin and Tyler to talk about how Social Security benefits are calculated, strategies for taking Social Security benefits, and how the system could be reformed in the future. To view the video with slides that are referenced in this episode, click HERE. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Join Tyler and Abrin as they lay out the six key steps to the financial planning process and stay until the end for a new friendly competition among hosts. --- Send in a voice message: https://anchor.fm/penobscotfa/message

Big thanks to all the team members for joining Tyler and Abrin on Episode 2 of Financial Discretion Advised. We had great conversations about the benefits of working as team to support clients - some serious and some not so much. Come get introduced to everyone and their roles within the firm. Enjoy! --- Send in a voice message: https://anchor.fm/penobscotfa/message

On this first episode of Financial Discretion Advised we will be talking about what it means to be a fiduciary in the financial advising world and under what circumstances an advisor must act as a fiduciary. Don't worry, audio quality and our performance will only get better from here. --- Send in a voice message: https://anchor.fm/penobscotfa/message