Macon Money Podcast

The 4% rule gets talked about like gospel in retirement planning. But let's be honest, it's always been more of a rough guess than a golden rule. Now, its original creator is revising it to 4.7%. So, does that mean your retirement paycheck just got a raise, or is this just another headline that oversimplifies a complex decision? In this episode, Lee explores the deeper reality behind this rule change and why your withdrawal rate should depend on more than just a headline number. While a higher number might feel like a green light to spend more, Lee emphasizes that real retirement planning requires a personalized approach, not just a rule of thumb. From sequence-of-returns risk to changing needs over time, this conversation helps unpack why no single rule fits everyone.   Here's what we discuss in today's show:

You've always been told to save for retirement, but can you go too far? Is it actually possible to over-save for the future? In this insightful episode, Lee answers a compelling listener question about what happens when saving becomes so aggressive that it starts to limit your lifestyle today. He dives into the emotional and practical downsides of over-saving, the dangers of comparing yourself to others, and how to strike a balance for long-term fulfillment. If you're maxing out your retirement accounts and feel like you're living paycheck to paycheck, this conversation is for you. Lee offers practical insights for building a financial plan that includes your bucket list, not just your retirement date. Financial security isn't just about having enough money later, it's also about making the most of your life now. Life is short. Let's make sure your plan reflects that truth.   Here's what we discuss in today's show:

Graduation season isn't just a time for caps, gowns, and celebrations, it's a pivotal financial crossroads for many young adults stepping into independence. As they leave the classroom behind and enter the workforce, the financial decisions they make now can quietly shape the next 40 years of their lives. Today, Lee talks about why it's so important for parents, grandparents, and mentors to help them lay a solid foundation, not just with money, but with mindset. Listen in as Lee shares practical ways to equip recent graduates for long-term success. From starting an emergency fund to making early Roth IRA contributions, he outlines the key conversations and habits that matter most. He also reflects on real stories, including his own, and offers creative gift ideas for families who want to offer more than just a check. Here's what we discuss in today's show:

The headlines are loud, the markets are messy, and your gut might be telling you to do something — anything — right now. If recent volatility has you feeling uneasy, you're not alone, but reacting the wrong way can cost you far more than a bumpy month in the markets. In this episode, Lee breaks down how tariffs and trade tensions are fueling market swings and what that really means for your retirement plans. He also shares practical steps to stay calm, stay invested, and keep your financial house in order. You'll learn why short-term chaos often clouds long-term fundamentals, why diversification is more critical now than ever, and how emotional decisions derail otherwise solid strategies. Plus, you'll hear how past crises hold key lessons for investors today. Tune in to learn more about how to navigate times of market volatility and hold onto peace even when the headlines are telling you it's time to panic.   Here's what we discuss in today's show:

Reinvention can be exciting, but is it risky when retirement is on the horizon? In this episode, Lee answers a question from a listener who wants to shift from corporate life to a new career in real estate at age 53, using IRA withdrawals to stay afloat during the transition. He also breaks down why early withdrawals can be financially dangerous and how commission-based careers may not offer the stability needed in this phase of life. Beyond the technical advice, Lee explores the emotional side of starting over, how to balance passion with practicality, and what questions to ask before making a leap. He shares a practical framework for pursuing your passion without jeopardizing your long-term goals: get clarity, know your value, and make sure someone is willing to pay for the problems you solve.   Here's what we discuss in today's show:

Many people approach retirement age asking the question, “Have I done enough?”  It's a common worry, but are they really focusing on the right things?  Based on a survey of nearly 400 experienced advisors, Lee explores the gap between what clients fear and what he believes truly deserves their focus when planning for retirement. He unpacks why concerns like outliving your money and market crashes dominate our minds and the two key factors he believes matter more. Retirement is often seen as a time of relaxation and enjoyment, but it can also be fraught with anxiety and uncertainty. Understanding the common worries can help individuals better prepare for this important phase of life, even in the wake of rising costs and increasing life expectancies. Tune in for tips on how to feel more confident about your financial future! Here's what we discuss in today's show:

March Madness is here, and just like filling out a bracket, picking individual stocks can feel like a thrilling gamble. But the odds of winning big are slim. In fact, history shows that most stock picks, like most brackets, end up busted. Many investors can't resist chasing big wins, even though diversification is a smarter play. One economist, Hendrik Bessembinder, analyzed the returns of nearly a century of stock performance. Let's compare what he found to March Madness history and uncover what March Madness can teach us about investing! Here's what we discuss in today's show:

For years, $1 million was considered the gold standard for retirement savings. But is it really enough? In this episode, Lee and Ben explore just how far that million-dollar nest egg can take you in retirement, depending on where you live. Recent studies reveal a stark reality: in some states, $1 million could last a lifetime, while in others, it may barely cover 15 years. But geography isn't the only factor. Spending habits, debt, and lifestyle choices all play a crucial role in determining whether your savings will truly sustain you. Here's what we discuss in today's show:

If you've spent years successfully managing your own investments, do you really need a financial advisor? That's the question Bob, one of our listeners, sent in. He's got an MBA, knows the markets well, and has always handled his portfolio solo. So, is working with an advisor just an extra expense, or could it actually add real value? In this episode, we break down when and why even experienced investors might benefit from professional guidance and when they're probably fine on their own. Here's what we discuss in today's show: Beyond just investments, where do financial advisors typically provide value that DIY investors might not consider? What are some common financial blind spots or mistakes that smart DIY investors tend to overlook? How should experienced investors plan for a future where they may not want (or be able) to actively manage their portfolio? What Lee would say to investors who are skeptical that an advisor could improve their financial situation Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

This week, Lee and Keith dive into Carl Richard's timeless article, Pretending To Be An Investor Is Dangerous, and discuss how to avoid the common mistakes many people make when managing their investments, particularly as they approach retirement. They explore what it means to be a "pretend investor" and break down the six key behaviors that can derail your financial security- from obsessing over short-time market fluctuations to chasing the latest hot stock. Tune in for a great discussion on how to focus on what truly matters- your financial health- while avoiding the distractions and fears created by the news cycle and peer pressure. You'll learn why sometimes, ignoring the chatter is the smartest move you can make with your retirement funds. Here's what we discuss in today's show: Staying committed to your long-term investment strategy instead of reacting to headlines Not letting daily market fluctuations sway your decisions Focusing on your personal financial goals rather than global economic events Avoiding the temptation to compare your strategy to others or chase the latest trends Recognizing that market volatility is normal- and not always a bad thing Resources for this episode: Check out more articles from Carl Richards here: https://behaviorgap.com/   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

A recent article on Fortune highlights a growing trend among baby boomers: continuing to work well into their 60s and 70s. Surprisingly, this is not out of necessity, but for the mental stimulation, social connections, and fulfillment that work provides. With nearly 20% of Americans over 65 still employed, this shift is challenging traditional views of retirement and sparking important conversations about what it means to truly retire. Join us as we explore this growing trend on today's show. Lee has witnessed firsthand how retirement goals have shifted in recent years and is having more frequent conversations with clients about the evolving landscape of retirement. Is staying in the workforce the right choice for you? Here's what we discuss in today's show: How Lee is seeing this trend in his own practice Lee's advice for those struggling with a loss of purpose or loneliness after leaving the workforce Financial considerations for those thinking about part-time or contracting work How working longer impacts the financial planning process The shifting attitude toward work and retirement in younger generations Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

As we step into 2025, many of us set New Year's resolutions—whether it's eating healthier, exercising more, or cutting back on a vice. But what if we also focused on improving our attitude toward money? The New Year is a great time for a reset and to adjust our attitudes when it comes to finances, and in this episode, Lee will break down what some of those financial attitude shifts could be. From being more mindful of the long-term financial impact of today's decisions to taking that first step toward building a retirement plan, there's always room for improvement when it comes to managing money. Let's kick off 2025 on the right financial foot! Here's what we discuss in today's show: Consider your future when making financial decisions Finding the balance between saving and spending Knowing what you have and where it is Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

In this episode of My Retirement Clarity, Lee sits down with a long-time client and friend, Joey Kinard, to discuss how he and his wife are making the most of their retirement years. From traveling to new places to embracing an active lifestyle, Joey shares what's been working for them as they enjoy this exciting chapter of life. Joey's early retirement was filled with memorable RV adventures. These days, he and his wife enjoy exploring state parks, visiting local farmers markets and festivals, and spending time at their favorite getaway- Alligator Point, Florida. Joey offers great insights on checking off bucket list items, staying active and maintaining a sense of community in retirement. Along the way, we'll talk about financial freedom, the importance of knowing your spending habits, and why time is your most valuable resource in retirement. Tune in as we explore what it means to retire with intention and enjoy the journey!   Here's what we discuss in today's show: Renting a house in Alligator Point and Joey's experience with RV travels Staying in state parks and renting cabins Pros and cons of purchasing a vacation home + Joey's favorite trip Staying healthy and active in retirement The importance of understanding your retirement spending Farmers markets and festivals that Joey and his wife have enjoyed   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

At JL Perkins Wealth Management, we receive all sorts of questions about financial and retirement planning, but some themes come up more often than others. In today's mailbag edition of the show, we'll tackle some of the most common questions we answer on a daily basis. Lori wonders whether it's advisable to help her aging parents financially, especially with potential long-term care needs. Matt asks if he should resume his 401(k) contributions after pausing them due to the election. If you're listening to this episode, you've likely had questions about one or two of these items, so stick with us! Here's what we discuss in today's show: "Since I've had my annuity long enough to withdraw without penalty, should I take it all out now?" "My husband is nine years older than me, and we have a large life insurance policy on him. What happens if the insurance company goes bankrupt and can't pay the death benefit?" "My parents didn't save much for retirement, so I'm worried about covering long-term care costs. Is it common to help parents financially, or should I try to avoid it if possible?" “Should I buy gold coins or gold bars or no gold at all?” "My father-in-law recently passed away and left us unexpected money. We want to give it to our son, but I'm worried he'll just spend it irresponsibly. Any suggestions on how to handle this?" Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

When it comes to retirement planning, it's critical that you and your spouse are on the same page. That doesn't necessarily mean that you'll agree on every little detail, but it does mean that compromise and honest conversations are a big part of navigating the process together. Join Lee as he dives into why aligning with your spouse is so important, where disagreements tend to arise, and the key topics you should be discussing. Plus, he'll share how financial advisors can help couples find financial common ground.  Here's what we discuss in today's show: Getting on the same page financially with your spouse What Lee often sees the first time he meets with a couple The most important things to discuss with your spouse when it comes to retirement What areas cause the most disagreement How Lee helps folks find a financial common ground   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

Remember the thrill of shaking a Magic 8 Ball to get answers to your childhood questions? Would we ace that math test? Would we be famous someday? Well, today, we're bringing a bit of that magic back. But instead of asking about pop quizzes and playground crushes, we're turning to the Magic 8 Ball for advice on something much more important: your retirement planning! What would the Magic 8 Ball have to say about these common retirement questions if it had the wisdom of a financial advisor? Here's what we discuss in today's show: Is a million dollars enough to retire? Can I rely on Social Security for retirement? Should I be reviewing my retirement plan annually? Will my retirement plan be affected by future changes in tax laws? Should I focus on paying off debt before increasing my retirement contributions?   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

National Financial Planning Month is here! In this episode, we'll do a little bit of celebrating as we look at what financial planning truly means, as well as what drew Lee into the field! We'll break down what it means to be a fiduciary, how JL Perkins is different from other wealth advisory firms, and what the standard process looks like with us. Lee also shares a key tip to help you avoid starting your financial plan on the wrong foot, along with insights into the work he did before becoming a financial planner. You don't want to miss what we have coming today, so pull up a chair and listen in! Here's what we discuss in today's show: How Lee got into financial planning, and what he was doing before he started How Lee defines financial planning What you should have ready when you meet with an advisor for the first time What's different about JL Perkins? Not relying on the internet for your retirement advice Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

A random, retired YouTuber did a simple video exploring the top 5 regrets from other retirees he interviewed (all in their 70s). It blew up to almost half a million views (and counting). Let's see what regrets made the list and, more importantly, explore what proactive steps you can take to avoid having the same regrets when you retire. Planning and working with an advisor can make all the difference in addressing these regrets. A financial advisor can help you create a personalized retirement plan that balances your financial goals with your desire for a fulfilling lifestyle. Tune in for some valuable insights to ensure your retirement is everything you hope for!   Here are the regrets we discuss in today's show: They wish they had retired earlier They wish they had spent more when they first retired They wish they took better care of their health They wish they had taken up a hobby They wish they had traveled more   Retiree regrets video https://www.youtube.com/watch?v=mNUSJ3juAbA   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

Remember when you were a kid, always asking 'How do you know?' about everything, like why the sky is blue or where the sun goes at night? That curiosity doesn't go away as we get older; it just turns into different questions, like the ones we face when planning for retirement. Today, we're digging into the 'How Do You Knows' of retirement planning. How do you know how much income you're going to need when you retire? How do you know if your retirement plan is tax-efficient? Stay tuned as Lee sheds light on these questions and more! Here's some of the how-do-you-knows we discuss in today's show: How do you know how much income you're going to need when you retire? How do you know how much money you should have in your savings account? How do you know when you're financially ready to retire? How do you know if an advisor is a good fit for you or not? How do you know if your retirement plan is tax-efficient?   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

We get a lot of questions about 401(k)s because they can be tricky to navigate. So, in today's episode, we're tackling some of the most frequently asked questions about 401(k)s. Tune in for a comprehensive breakdown of what they are, how they work, and how you can make the most of them! We'll cover everything from understanding company matches and target date funds to the pros and cons of 401(k) loans and rollovers into IRAs. This is a super informative conversation that you don't want to miss! Here's what we discuss in today's show: Should I use company-provided 401(k) guidance? Should I use target date funds? When should I take money out of my 401(k) and roll it over into an IRA? How should I adjust my 401(k) investments as I get closer to retirement? Can I make catch-up contributions to the 401(k)? If so, when?   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com  

We're thrilled to welcome the Mayor of Macon, Lester Miller, to the My Retirement Clarity podcast today! If you're from the area, you're familiar with who he is and some of the incredible things that have happened under his leadership. With the reputation of Macon on the rise, we thought it would be fun to discuss some of the key projects that have made the city a must-visit destination. From the world's largest indoor pickleball facility, Rhythm & Rally, to a vibrant new amphitheater and a revitalized downtown, there's so much happening in Macon- and even more on the horizon. If you want to learn more about the exciting developments in Macon and hear directly from Mayor Lester Miller, this episode is for you!   Here's what we discuss in today's show: Macon's recent National recognition and affordability The origin story of the Rhythm & Rally Pickleball Facility The process of developing the amphitheater + the importance of music in Macon Revitalizing downtown and future plans for the mall and more Attracting retirees and major companies to Macon The overall economic growth and positive outlook for Macon's future   Learn more about Mayor Lester Miller: https://maconbibb.us/mayorlestermiller/   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com About our guest: https://retiresmartomaha.com/   

With tax rates set to change soon and national debt on the rise, tax planning might be the most critical piece of retirement planning right now. That's why we wanted to catch up with David Brooks, a renowned tax expert from Omaha, Nebraska. David, who we consider a tax guru, shared invaluable insights into the world of tax strategies, proactive planning, and the future of tax policies. If you're looking to optimize your tax planning, this conversation should give you   For those that aren't as familiar with our current tax landscape, we'll spend some time on the details of today's taxes and how to prepare for future changes. With the national debt crossing $35 trillion and interest expenses skyrocketing, it's crucial to anticipate how tax policies might shift post-election. Regardless of political affiliations, we should all be focusing on policy implications and be planning accordingly.   Join us as we get into the tax strategies we're utilizing in 2024 and why this proactive tax planning can really help mitigate tax liabilities in retirement.   Here's what we discuss in today's show: Our country's rising debt is becoming a major political issue because it will impact tax policies. Why we've started accelerating Roth conversions for our clients. Future legislation that might change taxes and the actions you can take now. Is it a good thing or bad thing that RMD age has moved up to 75? Why you work with an independent financial advisor versus the big box retailers. The Donor Advised Fund strategy and the most common way we utilize that for retirees.   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com About our guest: https://retiresmartomaha.com/ 

We all make excuses from time to time for decisions we know might not be the best. Whether it's about our health, relationships, or finances, excuses can hold us back from achieving our long-term goals. Very often, Lee sees people who know that the financial decisions that they're making aren't the best decisions, but they try to create excuses or explanations for why they're doing what they're doing. From making Social Security decisions based on fear to taking on too much risk to make up for lost time, he'll address some common areas where he sees this happening. Let's talk about why these excuses usually don't hold water… Here's what we discuss in today's show: Claiming Social Security at age 62 due to fears of it running out of money Taking too much risk to make up for lost time Holding onto too much cash to keep your money safe Investing in things you don't understand Sticking with a financial advisor out of loyalty, even when you should switch   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

In this episode, host Lee Perkins sits down with Keith Dykes, the newest member of the JL Perkins Wealth Management team. Originally a Zoom call, this engaging interview explores Keith's background, family life, and journey to becoming a financial advisor. Learn about Keith's transition from agronomy to finance, his dedication to client service, and the values that align him perfectly with the team. Keith joined the JL Perkins Wealth Management team in 2023 as a financial advisor. His background includes being a successful entrepreneur & business owner with additional experience in Tax and Insurance. He graduated from the University of Georgia in 1998 with a BSA in Crop Science. When not at work, Keith enjoys spending time with his wife Lisa and his two daughters Ashlyn and Avery. He spends his spare time golfing, watching UGA football, hiking, traveling, and experiencing different cultures around the world.   Here's what we discuss in today's show: 0:49 - We've added another member to our wealth management team 2:19 – Lee and Keith have known each other for a dozen years 3:04 – More about Keith's family and original education experience at the University of Georgia 9:00 – Keith's early journey as a member of the JL team 15:53 – What Keith is looking forward to over the next year   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

Just like an annual checkup is important for maintaining good health, performing regular financial checkups is an essential part of planning for a healthy and successful retirement. These check-ins help catch potential issues early and allow you to adjust your plans as needed. By regularly reviewing your budget, goals, and progress, you can make informed decisions to stay on track financially. Although financial wellness will look different for everyone, we'll share some areas you should be paying attention to in today's episode. Don't miss these valuable insights to ensure your financial health is in top shape! And if you have any questions about your financial health, be sure to reach out to Lee and his team for personalized guidance.   Here's what we discuss in today's show: Monitoring budgeting and spending habits + keeping up with your credit score Maintaining an emergency fund to handle unexpected expenses and emergencies The importance of diversification + being aligned with your risk tolerance Proactively planning for the unexpected + being involved in your finances How J.L. Perkins Wealth Management helps their clients stay on track   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

Many people have preconceived notions about what retirement should look like. Oftentimes, TV commercials and retirement shows paint this as a time of life full of endless beach days and exciting vacations. The reality of retirement, however, can be quite different from our expectations. Listen in as we explore why a realistic approach to retirement, inclusive of financial planning and the potential for unexpected challenges, is crucial. After all, life is full of surprises, and this phase of life is no exception. Luckily, you don't have to (and shouldn't) plan for the “what ifs” alone.   Here's what we discuss in today's show: Retirement is different for everyone, so it's important to manage your expectations Many people underestimate how much they will spend once they retire You need to be ready to adjust your plans when unexpected changes occur Retirement planning is difficult, and it's okay to ask for help   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

Sometimes, the lessons we learn the hard way stick with us the longest. This is especially true when it comes to financial decisions. In today's episode, Lee shares a personal story that serves as a stark reminder of how being cheap can end up being very expensive. In this conversation, Lee recounts how his reluctance to invest in a security system for his new Dodge Ram 1500 TRX led to an expensive loss when the vehicle was stolen. Unfortunately, this led to weeks of stress and logistical nightmares like changing the locks to his house and dealing with insurance. Listen in as Lee talks about the financial and emotional implications of being penny-wise and pound foolish, and discusses the importance of seeing value in investments, whether it's for vehicle security or financial advisory services.   Here's what we discuss in today's show: The story of Lee's truck being stolen at the Atlanta airport Dealing with the aftermath of theft, including insurance claims, changing locks, and replacing stolen items How investing in quality advice and protection can save money and trouble in the long run   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

Losing a spouse is an incredibly difficult event that can leave one feeling lost and overwhelmed emotionally and financially. In today's episode, Lee is going to take us behind the scenes and share the stories of two clients who faced the sudden loss of their husbands. He'll offer insight into how each of them coped differently with their loss, and how the J.L. Perkins team helped them navigate this difficult transition. Listen in as Lee shares why it is so critical to have a plan in place and a financial advisor in your corner in the wake of tragic circumstances. He also stresses the importance of couples being actively engaged in their finances with a clear understanding of their financial situation. While this is not a scenario anyone wants to face or think about, sharing these stories can help you prepare should you or someone you know ever find themselves in a similar situation.   Here are the questions we answer in today's show: The stories of two women who lost their spouses + how they handled loss differently How being prepared, or lack thereof, affects widows and widowers Having a financial professional in your corner after loss Why it's crucial for both spouses to be involved in financial matters   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

In today's episode of My Retirement Clarity with Lee Perkins, we dive into a story of transformation, perseverance, and ultimately, triumph. Lee shares the journey of a client who, at 43, believed retirement was an impossible dream. Saddled with debt, family pressures, and a lack of financial direction, she was overwhelmed by the thought of mandatory retirement at 56 without a clear path forward. Lee recounts how, through meticulous planning and disciplined action, they tackled her challenges step by step. From budgeting and debt elimination to maximizing her 401(k) contributions, her story is a testament to the power of a solid financial strategy and the importance of trust in your financial advisor. As we follow her path to a debt-free life, fully funded emergency and leisure savings, and a growing retirement account, you'll witness the emotional turning point where the possibility of a fulfilling retirement becomes a reality. Lee's client's story is not just about financial planning—it's about the emotional journey from doubt to confidence that occurs when true planning takes place. Remember, with the right plan and commitment, a joyful retirement is within reach. Tune in to get inspired and learn how you can apply these life-changing strategies to your own situation.   Here are some of the questions we answer in today's show: How to get out of debt and save for retirement. Why some people fall back into debt if they take shortcuts to address the problem. Illustrating the true impact of having a solid emergency fund. How discipline leads to excellent outcomes.   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com    

Each generation is currently navigating a unique part of the retirement planning experience. With many baby boomers preparing for the transition into retirement and Generation X starting to think more about their retirement savings, these major life events come with a handful of financial planning questions. In today's episode, we'll focus on some of the common questions that these age groups are asking. While there's no universal solution to these questions, this episode will provide some important considerations to keep in mind. By seeking personalized guidance, you can better prepare for your unique situation and set yourself up for a successful retirement. Tune in to see what you can learn from Lee!   Here are some of the questions we answer in today's show: Baby boomers: "How do I manage the risks of market volatility as I approach retirement?” Baby Boomers: “What are the best ways to maximize my Social Security benefits?” Generation X: “How much do I need saved to actually retire?” Generation X: “What should I do with my 401(k) from previous employers?”   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

As much as any other threat, recognizing and avoiding scams has become an essential skill, particularly for retirees. Join us as we explore crucial steps you can take to safeguard your financial well-being against the growing tide of scams and identity theft. Learn from real-life stories and gain practical advice to keep your finances secure in this digital era, all from the perspective of a seasoned financial professional. From government imposters to sweepstakes, robocalls, and romance scams, we'll share valuable insights into the tactics used by scammers. We'll share how to spot red flags and protect yourself against phishing emails, vishing phone calls, and smishing texts before it's too late. And, in the event that you do fall victim to a scam, we'll provide actionable steps to mitigate the damage. As technology advances and scams evolve, this conversation is more important than ever. Don't miss out on this opportunity to arm yourself with knowledge and protect your financial future!   Here are the questions we answer in today's show: How common these scam threats are + phishing, vishing, and smishing techniques The various types of scams out there + some of Lee's clients who have been targeted by fraudulent schemes Some ways to spot some of these scams and protect your personal information What should you do if you fall victim to a scam?   Links for this episode: https://www.cnbc.com/2023/10/08/how-one-retired-woman-lost-her-life-savings-in-a-common-elder-fraud-scheme.html https://www.thomsonreuters.com/en-us/posts/investigation-fraud-and-risk/senior-citizens-financial-scams/   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

We've got a mailbag edition of the show today! We've gathered some great questions over the last several weeks that we're excited to share with you. From the tax implications of financial gifts to navigating retirement spending and overcoming indecision, Lee is here to shed light on a range of real-world topics. Dorothy asks for advice on how to financially support her daughter, who wants to take time off work to be with her newborn baby in the hospital, and what the tax implications might look like. Rose asks how to break the cycle of indecision and make confident financial decisions. We love hearing from you, our listeners! No question is too basic, so if there's something on your mind that you'd like Lee to answer, be sure to send it our way for your chance to be featured on the show.   Here are the questions we answer in today's show: “I'm a police officer and have been given medical retirement at 53, but I feel like I need to still be earning money at my age. Any thoughts on how to approach this?” “My daughter wants to take time off work to be with her new baby who is in the hospital. We want to help financially but are unsure about the tax implications and how this might impact our retirement.” “Every time I need to make a financial decision, I end up talking myself in circles. How do I stop this?” “I'm 79 and don't worry about us running out of money anymore. We don't have kids and I have regrets about not traveling much in the last decade. Should I start spending to make up for previous years of pinching pennies?” “At 60, I've been offered two work options: stay on for 5-6 years for a pension or retire now with a severance package and pension buyout. How should I decide?” “I'm retiring soon with 18 weeks of vacation and sick leave payout. If I retire in December, it'll be taxed this year. Should I wait until January for a different tax year?”   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com  

This episode might be a bit counterintuitive. We're going to question the real impact of common financial habits. Are the strategies you consider beneficial actually working in your favor? We explore the pros and cons of practices like ignoring account statements and strict budgeting. Join us for a practical discussion, as we uncover the unexpected effects of everyday money decisions. Are your good money habits holding you back?   Here's some of what we discuss in this episode: Ignoring account statements keeps you from overreacting but what are you missing by doing that too much? Staying on a strict budget will help you achieve financial goals but it can become overly restrictive. Investing in what you know is a good strategy, but it might lead a lack of diversification. Automation makes investing and saving simple but it could lead to disengagement. Is there a downside to paying off all your debt?   Want to set up a meeting with us? Visit us here: http://talkwithjp.com   Get more financial education at http://myretirementclarity.com

Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning. In this episode, we're diving into the changing landscape of retirement planning. From the complexity of investment options to the future of Social Security, we'll discuss the obstacles faced by today's retirees. Tune in as we explore why retirement planning is now more challenging than ever before and offer insights to help you navigate your retirement journey with confidence.   Here's some of what we discuss in this episode: The shift away from long-term company loyalty and the decline in company pensions The unpredictability of the housing market + high costs and interest rates The increased complexity and risks in today's investment landscape The growing challenges of the “sandwich generation” The strain on Social Security due to fewer contributors and an aging population drawing benefits   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com  

In this episode, Lee reflects on the journey of JL Perkins Wealth Management over the past decade. From its humble beginnings with just Lee and his sister Francesca, the firm has evolved through unexpected transitions, including office expansions and team changes. As JL Perkins Wealth Management celebrates its 10th anniversary, Lee shares insights into the strategic decisions that have shaped the firm's growth, and how he's working to adapt to the needs of its growing clientele. Throughout the conversation, Lee emphasizes the importance of planning for the next phase of life, whether it's retirement or another significant transition. He also introduces his new book, Next Phase: How to Retire in a Year or Less Without Regrets, designed to help individuals navigate the complexities of retirement planning with confidence. Tune in for a great conversation!   Here's some of what we discuss in this episode: The strategic growth of JL Perkins Wealth Management over the past decade Expanding the firm's team to ensure continuity for clients and provide more resources Lee's new book Next Phase: How To Retire In A Year Or Less Without Regrets   For your complementary copy of Lee's new book, Next Phase, text “Next Phase” to 478 – 254-3550   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

Have you ever wondered what questions to ask your financial advisor, or why those questions are crucial? In today's episode, we're tackling exactly that. We're discussing the vital questions that bring transparency and depth to your financial advisory relationship.   Here's some of what we discuss in this episode: The different types of fee structures that advisors will typically have Why your advisor's investment philosophy is an important thing to know up front Why you want to know what specialty an advisor has Communication is key so you want to know what to expect in terms of frequency Will you be working with a team or a specific advisor?   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

2023 is coming to an end, and, if we had to guess, there are probably some financial tasks you wish you'd taken care of this year. Not to worry, because in this week's episode, Lee is going to share six planning tips that you can address during the first quarter of 2024. Let's kick off the new year the right way!   Here's some of what we discuss in this episode: Keeping the right amount of money in cash Cleaning up old life insurance policies Consolidating old 401ks when you change jobs Reconsidering your managed account that has limited management Updating beneficiary designations as life changes Automating your savings   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

Have you ever stopped to ask yourself about the purpose of the money you've worked to save throughout your life? In financial planning, it can be easy to fall into the trap of simply viewing your wealth as a numerical scorecard, measured by monthly statements and investment returns. But as we often remind our clients, retirement planning is not just about the numbers on a page; it's about the life experiences and memories those numbers can create.   Here's some of what we discuss in this episode: Reevaluating your relationship with money and time, inspired by a book called "Die with Zero" by Bill Perkins What is the purpose of the money you've saved? Spending your money with purpose and making the most of your “go go” years in retirement What is the “perfect day” exercise and how can it enhance your retirement planning journey?   Want to set up a meeting with us? Visit us here: http://talkwithjlp.com/ Get more financial education at http://myretirementclarity.com  

The retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these hidden, but essential questions about retirement.    Here are some of the items we discuss in today's show: Pulling money out of your IRA early could mean penalties and taxes you weren't prepared for. The importance of increasing your savings when your income increases. It's easy to fall victim to lifestyle creep. How to avoid the regret of paying too much for tuition. Retiring early is a goal for many people but leaving the work force too early can be costly. Why many people wish they would have looked into Roth IRAs sooner.   Want to set up a meeting with us? Visit us here: http://talkwithjlp.com/ Get more financial education at http://myretirementclarity.com

The retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these hidden, but essential questions about retirement.    Here are the questions we are going to dive into in this episode: How much are my tax-deferred savings going to cost me in taxes? How much can I withdraw from my savings each year? Should I still have life insurance when I'm retired? How much am I really paying in fees and commissions?   Check out Episode 96 here Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com    

Welcome back to My Retirement Clarity! This week, we're diving into the listener mailbag to answer your questions. We're covering a variety of topics today, many of which get asked in the office quite often. From investing in your grandkid's college fund to how much to spend on a forever home, this episode is sure to have a takeaway for everyone.   Here are a few of the questions we answer in this episode: I'd like to start investing for my grandchildren. Should I set up a 529 plan for them or invest on my own and give them the money when they go to school? How much is too much to spend on our forever home in retirement? My husband died 15 years ago and I'm thinking about moving in with my boyfriend, but it makes me nervous to think about selling my house and combining finances. How do you advise people in a situation like this? I've talked with a few different advisors about how they get paid, and it sounds like they all have completely different models. Are there this many different fee structures or does everyone just explain it differently?   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Are we on the brink of a retirement renaissance or stormy seas ahead? On this episode, we jump into the pressing issues of Social Security, healthcare, taxes, stock market trends, and long-term care. Whether you're an eternal optimist or cautious pessimist, this episode will equip you with perspectives to plan your retirement years with confidence as we ask the longstanding question, “Is the glass half full or half empty?”   Here's some of what we discuss in this episode: Politicians are unlikely to make drastic changes to Social Security due to voter concerns, however, there could be potential benefit cuts for younger generations Lee expects healthcare costs to continue rising, despite technological advancements It's almost certain the tax rates will increase in the future. Lee encourages proactive tax planning to mitigate future tax burdens, especially given the current trend of rising taxes Long-term care is expensive, and long-term care insurance options have become limited Despite short-term market fluctuations, Lee is optimistic about the stock market's long-term performance   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Are you nearing “retirement age”? If so, let's explore that pivotal question you'll soon face: Should you retire or continue working? We'll unravel the intricacies of this decision, addressing both financial and emotional aspects, and help you find out if you're truly ready to retire.   Here are some key takeaways from this episode: Usually people have enough money saved to retire but need to run the numbers to discover that. Couples need to talk about the adjustment to retirement and how they'll handle that extra time. People will get hung up on ‘retirement age' but you might be able to retire earlier. The importance of financial education when it comes to feeling confident in retirement. How we have the conversation with someone who is ready to retire but aren't in a position to financially. Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Welcome back to the My Retirement Clarity podcast! Today, Lee and Ben dive into a Yahoo Finance that claims someone lost over $400,000 of their retirement savings in a Roth IRA. Is the Roth IRA really to blame, or is there more to the story?   Here's an overview of what we discuss in this episode: Tax planning and tax diversification are essential aspects of retirement planning. Understanding the potential impact of rising taxes in the future is crucial for making informed decisions. Roth IRAs can be a valuable retirement tool, especially for those in lower tax brackets or those willing to engage in strategic Roth conversions. Lee cautions against taking financial advice solely from sensationalized headlines or anonymous online comments. Instead, seek guidance from qualified financial professionals.   Yahoo Finance Article: https://finance.yahoo.com/news/lost-400k-retirement-savings-roth-174006044.html   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

This week, we're switching things up to talk about a very important topic: health and wellness! Join us as we sit down with the inspiring health and wellness expert, Lizzie Gossett, who has played a vital role in helping Lee lose an incredible 34 pounds in 3 months. We're excited to have her on the podcast today to share her insights on prioritizing and maintaining your health.   Here are some key takeaways from this episode: The importance of shifting from short-term diets to a long-term lifestyle change. Developing a strong "why" and viewing health as a continuous journey fosters lasting success. Small, sustainable changes in eating habits led to significant results. Finding an exercise routine that suits your preferences and incorporating accountability measures can help develop consistency. The importance of ongoing support and adapting to different life stages. Maintaining health requires flexibility and dedication, whether through coaching, accountability, or adjusting habits during special occasions.   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Ever been on the receiving end of ‘the look' from your spouse? In this episode, Lee recounts the dreaded look he got from his wife a few weeks ago after a meticulously planned family trip to the Bahamas was almost derailed due to a passport oversight- discovered a mere 21 hours before departure. In this episode, Lee shares his crazy adventure of acquiring passports for his two kids in just 7 hours.   Here are some key takeaways from this episode: Lee talks about his horrifying realization that his family had some expired passports, less than 24 hours before his family was supposed to depart for the Bahamas Don't rely solely on travel agencies or other parties to ensure your documents are valid. Take personal responsibility for checking and maintaining your travel-related documents When faced with unexpected challenges, don't hesitate to seek help and utilize available resources. In this case, Lee's connection to a state representative's office played a pivotal role in securing an expedited passport appointment. Connecting with knowledgeable individuals can lead to solutions!   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com    

We're back with a bonus episode on resolving financial tension between couples! After popular demand, we're exploring five more common areas of financial tension: retirement housing, emergency funds, handling inheritances, insurance, and spending habits. Stay tuned to learn how advisors like Lee work to resolve conflicts in these areas as they arise.      Here's what we'll discuss in this episode: Couples may face tension when deciding where they want to live in retirement. Financial considerations, such as the cost of moving and downsizing, can influence this decision. Couples may have different risk tolerances and views on how much to keep in an emergency fund. Inheritances can cause tension if there are disagreements about how to use the money. Some may want to pay off debt, while others may want to enhance retirement savings or lifestyle. Couples may have differing views on insurance needs, such as life insurance and long-term care insurance. Finding a balance between adequate coverage and cost can be a point of contention. Establishing a budget and allocating individual spending money can help avoid conflicts.   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Money can't buy love, but it can certainly start some spicy debates between you and your better half. In this episode, we're digging into the financial face-offs that make Monopoly fights look like child's play and exploring some money minefields that can test even the most solid relationships. Listen in as we explore how to resolve some of the most common financial sources of tension between couples in retirement.   Here's what we'll discuss in this episode: Disagreeing on risk tolerance in your portfolio. (4:10) Figuring out what age to retire. (6:43) Being on the same page about legacy planning in second marriages. (11:01) Determining your retirement lifestyle as a couple. (13:24) How are you going to handle financial management in retirement? (16:19)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com    

Celebrate the spirit of the month with our latest episode as we tackle the concept of financial independence. While the American colonists fought for freedom from British rule, Lee is here to discuss what you're striving to be independent from in your retirement. We'll unveil the common foes you'll face on the journey. And good news, no muskets required for these battles!   Here's what we'll discuss in this episode: Avoiding being too dependent on the government in retirement. (2:38) Not having to rely on financial support from your children in retirement. (5:40) Independence from creditors- going into retirement with little or no debt. (8:40)   Get Dave Ramsey's The Total Money Makeover here Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com  

Everybody wants to make money, but nobody wants to lose it. In today's episode, Lee discusses a specific investment strategy that aims to limit downside risk while offering attractive upside potential. This strategy, known as a Defined Outcome ETF or Buffered ETF strategy, provides a unique approach to investing, especially in uncertain times like the current economic environment. While this strategy may not be suitable for everyone, it offers an appealing balance between security and growth. Join us as we take a closer look at how ETFs work and discuss who they could potentially benefit.   Here's what we'll discuss in this episode: What is an ETF and how does it work? (4:46) The tradeoff with this strategy. (6:40) Who might this strategy benefit? (8:59) This investment is 100% liquid. (11:44)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Don't get us wrong. In many cases, your 401(k) can be your best investment vehicle, offering numerous benefits and tax advantages and many times a 100% return on some of your contributions (also known as an employer match). However, it's important to recognize that it might not always be the optimal choice for everyone. Join us in this thought-provoking episode as we dissect some reasons why someone should NOT invest in a 401(k).   Here's what we'll discuss in this episode: Having an emergency fund in place before you contribute to your 401k. (3:55) If your employer doesn't match contributions to your 401k. (6:21) Tackling debt before you start investing. (8:16) Moving your money out of old 401ks if you no longer work for the company.  (13:07) Limited investment options and hidden fees. (16:09)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com