Vince Oldre of CFG Retirement Group in Minneapolis, Minnesota sorts through the complex issues surrounding financial and retirement planning. Join us as we pull back the curtain and discuss the topics that other advisors won't talk about.
Today, Vince, Mike and Jag are here to talk about the dreaded "I word" - inflation. Specifically, how does inflation impact the fixed income that retirees are so reliant on?What is inflationHow much it can impact you?An Inflation Calculator that shows some scary numbersFor more help planning your financial future, download our free retirement guide here: https://cfgretirement.com/retirementguideAdditional Resources:CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number to Call: 952-657-7470Vince email: vince@cfgretirement.com
Today, Vince and Jag are joined by CFG Retirement Group's Michael Stendahl, financial advisor and retirement planner.Mike has decades of experience on trading floors and brings with him the perspective of how the trading world has changed. Specifically, we break down 5 ways in which Old Wall Street differs from New Wall Street:Fees (trade Commissions)Investment OptionsBig vs IndependentCommissions vs fee basedInvestment managers vs financial plannersFor more help planning your financial future, download our free retirement guide here: https://cfgretirement.com/retirementguideAdditional Resources:CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number to Call: 952-657-7470Vince email: vince@cfgretirement.com
Typically, investors want to maximize their returns, but minimize their risk. And while that "unicorn" investment of high returns doesn't necessarily exist, today, Vince Oldre of CFG Retirement Group goes through some strategies to get the best possible results.Standard deviation is important - it's the amount that your investments can vary in volatility. "How big are the bounces?" Vince explains how to factor standard deviation in to your investments.There are many tools on the Internet, including Morningstar and Yahoo Finance. However, there's a catch to looking at 10-year returns, now, in 2021. Vince and Jag talk about what that is.Additional Resources:CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number to Call: 952-657-7470CFG Retirement TEXT line: 612-448-3243Vince email: vince@cfgretirement.com
Since the 1980s, the 4% Rule stated that you could safely withdraw 4% of your portfolio every year, and have a successful 30 year retirement. But much has changed in the last TWO years, never mind the last 40.Today, Vince Oldre of CFG Retirement looks at this rule. Morningstar thinks the 4% rule should now be more like 3.3%, a significant difference in annual income. But Vince digs a little deeper. The old rule was based on a 60-40 stock bond mix. As we discussed in a previous episode, that model is also outdated. We go under the hood to talk about how you can calibrate different sources of income to get to a withdrawal rate that will work for you in retirement.Additional Resources:CNBC article on the 4% rule: https://www.cnbc.com/2021/11/11/the-4percent-rule-a-popular-retirement-income-strategy-may-be-outdated.htmlCFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number to Call: 952-657-7470CFG Retirement TEXT line: 612-448-3243Vince email: vince@cfgretirement.com
The end of the year is a great time to take stock of all things in life. This is especially true for your personal finances. Here are 9 items for your end of the year checklist. Jag and Vince Oldre from CFG Retirement Group break them down in this week's episode.Review/Update Your BeneficiariesReview/Update Your Tax WithholdingReview Your Homeowners, Auto, and Other Insurance NeedsReview Your Portfolio and Diversify if NecessarySpend Those Flex Account Dollars Before They Are Gone!Check on Your Emergency SavingsContribute To 529 Plans and Other College FundsMake Charitable DonationsPlan For The FutureAdditional Resources:CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number to Call: 952-657-7470CFG Retirement TEXT line: 612-448-3243Vince email: vince@cfgretirement.com
Do you need life insurance in retirement? As with most questions, the answer is: it depends. Today, Vince and Jag break down the pros and cons of life insurance, including:Cons:Can be costly to continueMay not actually need itMay benefit the insurance agent more Pros: More tax efficient benefit to beneficiariesCan provide tax free distributions from the cash valueIt can be considered a safer assetCan provide long term care coverageAdditional Resources:CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number to Call: 952-657-7470CFG Retirement TEXT line: 612-448-3243Vince email: vince@cfgretirement.com
With December here, you may have considered rolling over your 401k retirement plan. Today, Vince Oldre and Jag break down the pros and cons of doing it:Cons:You plan to retire early or lateProtection from lawsuitsFeesNot sure who to trustLimited OptionsPros:Better performing fundsMore OptionsWant alternatives to bondsWant more flexibility to withdrawalsWant better income strategiesWork with someone who has built a customized portfolio for youAdditional Resources:CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number to Call: 952-657-7470CFG Retirement TEXT line: 612-448-3243Vince email: vince@cfgretirement.com
CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number: 952-657-7470With Thanksgiving almost here, it's hard to believe we are nearing the end of calendar year 2021. Today Vince Oldre of CFG Retirement Group highlights 10 things you should do before December 31st, to optimize your 2021 taxes. They are:Make 401(k), and HSA contributions.Schedule your RMD for 2021.Convert money from a traditional IRA to a Roth IRA.Contribute to a 529 Plan.Hold off on mutual fund purchases.Harvest your capital losses.Pick up capital gains if you're in a low tax bracket.Harvest losses on cryptocurrency.Donate cash to a charity.Meet with your tax advisor.More info: https://money.usnews.com/money/personal-finance/taxes/articles/10-year-end-tax-tips
CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number: 952-657-7470Vince Oldre email: vince@cfgretirement.comWhen planning for your future, it's often helpful to think about three buckets for your money - Now, Soon, and Later. Today, Vince and Jag break down how to delegate your assets into these various buckets to optimize your financial future and retirement.Now Bucket:Emergency FundPlanned expenses next couple years: cars, weddings, home repairs, etcRetirement income (if about to retire)Soon Bucket:Money you can access penalty free in next few years if you need money beyond your now bucket, also protect against inflationLater Bucket:Long Term Growth and Legacy planning
CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number: 952-657-7470Vince Oldre email: vince@cfgretirement.comThere are a number of proposed changes to tax law currently being debated in Congress. And while they parameters seem to change by the day, here are some key proposals that could impact your financial future. Vince Oldre of CFG Retirement and Jon Gay break them down into three categories: Retirement accounts, State and Local Taxes (SALT), and Estate Taxes.Retirement Accounts:New RMD rules may require distributions not just based on age, but by the total value of the accounts.Roth conversions, specifically "back door Roths" could become a thing of the past. State and Local Taxes:The amount of state and local taxes you can deduct from your federal return may increaseEstate Taxes:The 2017 Tax Cuts and Jobs Act is set to expire in 2026. This could affect the top tax bracket as well as the thresholds for estate taxes.The Pass Through Deduction of 20% for business owners
CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number: 952-657-7470Vince Oldre email: vince@cfgretirement.comYou've worked hard for decades, and contributed to social security all along the way. That money should be tax-free when you collect it in retirement, right? Well, not always. Today, Vince Oldre from CFG Retirement Group explains the thresholds and scenarios that could have you paying taxes on your social security income.When calculating the percentage of your SSI income that will be taxed, the IRS will look at all of your taxable income- this can include Required Minimum Distributions, Pensions, and anything else. Vince tells the story of a client who thought he planned correctly, but the mistake he made. Also, keep this in mind. Non-taxable income, such as Roth IRAs, do not count toward this calculation. Vince explains.
CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number: 952-657-7470Vince Oldre email: vince@cfgretirement.comInflation is a word that's been in the news a lot lately, and it can be a scary thing to consider your money being worth less than it used to be. This is especially true for retirees and pre-retirees who have are limited in their earning potential.The days of stashing your money in a savings account or under your mattress are gone - inflation will cause that money's value to drop. Today, Vince Oldre of CFG Retirement Group explains nine ways to protect yourself against inflation, and which are better ideas than others, including:GoldStocksREITS (Real Estate Investment Trusts -and which ones)CommoditiesStructured NotesETF's (Exchange Traded Funds)Treasury BondsForeign ExchangeCryptocurrency
CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number: 952-657-7470The debt ceiling has been in the news a lot lately. And while it's easy to tune it out or gloss it over, it can have a real effect on your bottom line. Today, Vince Oldre from CFG Retirement Group breaks it down. This is not a political or partisan discussion - we are only talking about your money.When faced with the dilemma of the debt ceiling, one of two things can happen. Congress can increase the debt ceiling, risking higher inflation. Or they can default on the country's obligations, which can have really detrimental ramifications to our overall economy. In fact, it's never happened.There are a number of things you can do to protect your financial future. Bonds are likely at risk for inflation. Vince explains some bond alternatives we can look at, including structured notes, hedge equity portfolios, and fixed index annuities. We also touch on gold and silver and their potential as part of a diversified portfolio, but Vince warns against putting all of your eggs in one basket - even a golden one.Bottom line: The government will do what it does with the debt ceiling. You can't control that. But you can control what you do in your portfolio for your financial future.Additional Reading:https://finance.yahoo.com/news/what-trump-gets-right-about-the-debt-ceiling-battle-morning-brief-091204583.htmlhttps://finance.yahoo.com/news/happen-u-doesn-t-raise-090000204.html
CFG Retirement Group Website and Phone Number: https://cfgretirement.com/ (952) 657-7470.Our complimentary tax guide can be found here: https://cfgretirement.com/taxguideVince Oldre of CFG Retirement is just back from a convention, where he heard Ed Slott speak. Ed is one of the country's thought leaders on retirement planning, and he says investors should act before the end of 2021 and a likely increase in taxes.Today, Vince and Jag break down some of the tools available to protect yourself against an increase in taxes. Conventional wisdom used to be that you should defer your taxes until retirement, when you'd likely be in a lower bracket. But with what the federal government has had to spend recently (and still could spend), there's a strong chance you could be in a higher tax bracket later.A great way to protect yourself against higher taxes in the future is through a Roth conversion. Any money you convert now will be tax free going forward, no matter where tax brackets land. Vince walks us through the numbers, and explains why he feels some of the arguments against Roth conversions simply don't hold water.We also talk about PayPal executive Peter Thiel. He took a $2,000 investment and turned it into $5 billion tax free. That's an extreme example, but something worth noting.With the recent debate in Congress over the debt ceiling (we recorded this on October 6th), taxes could very well be going up. We will talk about that in our next episode.
CFG Retirement Group Website and Phone Number: https://cfgretirement.com/ (952) 657-7470.For years, we've heard about the 60-40 portfolio model - that you should be invested 60% in stocks, and 40% in bonds. But in the four decades since that advice came out, much has changed. The stock market has risen and become more volatile, and bonds are not worth what they used to be.Note: For more on bond alternatives, check out our previous episode here. Have you heard the rule of 4%? The idea that you can withdraw 4% of your portfolio in each year of your retirement? Well even that rule came out of the 60-40 idea.Too often, clients come into Vince Oldre's office at CFG Retirement Group and have been told they have to use one of several pre-packaged, "cookie cutter" plans for their future. In today's episode, Vince talks about other ways to invest, including methods you can use to potentially increase your returns without incurring as much risk.Maybe, here in 2021, a 60-40 stock-bond mix might be more accurately looked at as 60% equities, and 40% fixed income. When you look at your portfolio through that lens, there are many more possibilities. Vince explains.For more information about your financial future, you can contact Vince or Mike at CFG Retirement Group.https://cfgretirement.com/Or Call (952) 657-7470.
CFG Retirement Group Website and Phone Number: https://cfgretirement.com/ (952) 657-7470.Bonds often have an inverse relationship to the stock market. That means with the market currently up, bonds are down. And with bonds looking less appealing, it may be time to look at bond alternatives for your portfolio.Today, Vince Oldre of CFG Retirement group breaks down some of these bond alternatives, including:CD'sFixed AnnuitiesStructured NotesHedged Equity Portfolios (Options)With advances in technology, many of these strategies are more accessible to the average investor than they were 20 years ago. But every investor's situation is different. For more information about your financial future, you can contact Vince or Mike at CFG Retirement Group.https://cfgretirement.com/Or Call (952) 657-7470.
Roth IRA conversions have been a hot topic in the financial media lately. With many analysts assuming that taxes are going to go up, more and more investors are asking about this strategy. Today, Vince Oldre from CFG Retirement Group breaks down Roth Conversions.What is a Roth conversion?Who can do a Roth conversion?What are some strategies around a Roth conversion?What are some factors to consider when deciding whether you should do a Roth conversion?Your main goal should be to be tax efficient -to pay the lowest tax rate possible. Vince explains why the timing of a Roth conversion can have major tax implications and why you need to be strategic when employing this stategy.If you need help with your financial future, reach out to Vince Oldre and the team at CFG Retirement Group.Website: https://cfgretirement.com/Or call: 952-657-7470
Today, Vince Oldre of CFG Retirement joins Jon Gay to go over the 5 crucial questions you need to ask yourself about your investments. We break each of these down:Are you seeing the results you want?Are your investments and returns easy to follow and understand?Are your interest rates satisfactory?Do you constantly worry about the money you've invested?Are your taxes on your investments what you thought they would be?If you need help with your financial future, reach out to Vince Oldre and the team at CFG Retirement Group.Website: https://cfgretirement.com/Or call: 952-657-7470
Today, Vince Oldre of CFG Retirement group joins Jon Gay to talk about Roth IRAs, specifically 7 things that you may not have known about!You can use a Roth IRA to buy a house.Not everyone can get a Roth IRA.Dividends are free from taxes.You can contribute this year and claim it on last year's return.Your Roth IRA can outlast you.Roth IRAs are inheritable.Your spouse can have a Roth IRA even if he or she doesn't work.If you need help with your financial future, reach out to Vince Oldre and the team at CFG Retirement Group.Website: https://cfgretirement.com/Or call: 952-657-7470
Today, Vince Oldre of CFG Retirement group joins Jon Gay to talk about 5 costly mistakes that folks often make in retirement, surrounding:Health Care ExpensesGreater SpendingSocial Security TaxesTax Deferred AccountsLoss of Income for Surviving SpouseIf you need help with your financial future, reach out to Vince Oldre and the team at CFG Retirement Group.Website: https://cfgretirement.com/Or call: 952-657-7470
The market volatility of 2020 has many people considering having their money professionally managed. In today's episode, Vince Oldre and Jon Gay examine the different types of financial advisors, and the pros and cons to each:Sales Driven AdvisorsHybrid of Sales-Driven and Fee For ServiceFee for Service Based on Hourly RateFee for Service Based on Assets Under ManagementFee for Service Based on Assets Under Advisement, Net Worth, Income or ComplexityFor more info, you can reach Vince Oldre at (952) 657-7470, or find him online at https://assuredretirementgroup.com/
Navigating the maze of Medicare enrollment can be extremely difficult. In today's episode, Vince and Jon cover some of the basic concepts of Medicare, including:When to enrollAre you eligible?Medicare Part A and Part B vs Medicare Part CMedicare Part D (Prescriptions)Medicare Supplement Programs or Medigap.With Medicare and health insurance coverage being such a large part of your finances, especially in retirement, Assured Retirement Group has brought in a specialist to cover these areas with their clients.For more info, you can reach Vince Oldre at (952) 657-7470, or find him online at https://assuredretirementgroup.com/
There's a difference between advisors who sell specific products, and those who sell an overall financial plan. Many advisors focus solely on annuities or other investments, not the full picture. Some insurance agents even call themselves financial advisors, even though they aren't supposed to.Vince Oldre explains the inherent conflict of the term "fiduciary" today, and why this often-overused term gets under his skin. How can an advisor be a true fiduciary and act in your best interest if you have conflicts of his or her own?For more info, you can reach Vince Oldre at (952) 657-7470, or find him online at https://assuredretirementgroup.com/
Today, Vince Oldre of Assured Retirement Group explains some of the secrets of the financial world that not all advisors will share with you.We start with fees, and commissions. Did you know that some advisors can be tricked just as easily as consumers?Vince shares a horror story of a client who thought he was getting a big tax break with a land easement deal, only to have it not be what he expected.It's important to understand fees, and Vince explains the easy way to see if there's a commission on the mutual funds you own - and how those commissions and fees break down over time.We also discuss the term fiduciary - can an advisor be truly independent and work in your best interest if they are captive to a larger company?For more info, you can reach Vince Oldre at (952) 657-7470, or find him online at https://assuredretirementgroup.com/
We are seeing more employers offering buyouts and early retirement to their employees. Accepting the buyout can be a very stressful decision, with limited time to make it.Vince Oldre of Assured Retirement Group says it all starts with having a financial plan. Once that foundation is in place, it becomes much easier to evaluate the offer. He's even had clients accept these types of offers without having to ask Vince, because the plan was already in place.Not all plans are created equal - the recent Delta Airlines employee buyouts were good deals because they were the product of negotiation. We also discuss other big companies like 3M and Thomson Reuters. Again, the decision for all employees should start with a financial plan.Vince Oldre and Assured Retirement Group are offering to set up financial plans at no charge during the COVID-19 pandemic.For more info, you can reach him at (952)-657-7470, or find him online at https://assuredretirementgroup.com/For more info, you can reach him at (952) 657-7470, or find him online at https://assuredretirementgroup.com/
Many folks are saying that the economy has rebounded from a difficult first part of 2020. That may not necessarily be the case.Vince Oldre of Assured Retirement Group says this may not be the time to jump right back into the market. He favors a more conservative approach.It's important to remember that the companies in the S&P 500 and other indexes sometimes have a disproportionate effect on the the market - for example, the big 5 companies of Amazon, Google, Apple, Facebook, and Microsoft can drive the market up if they are doing well. Also, just because markets do well, doesn't mean individual companies do. Think about where Facebook and Sears were 15 years ago - two companies headed in very opposite directions.If you are young and have a large time horizon ahead of you before retirement, you can afford to be in the market and absorb a loss. The closer you are to retirement, however, the less margin you have for error.Finally, Vince is flexible, meeting with clients virtually - but also in person with appropriate safety precautions. For more info, you can reach him at (952)-657-7470, or find him online at https://assuredretirementgroup.com/
You've probably heard lots of advice these last few months about changing your investments, and what you should do with your retirement plans. But there's so much more to consider as you plan for the future.First, consider a Roth Conversion - taking the money out of your traditional retirement plan and rolling it into a Roth now. Vince explains why it could be very beneficial to do this now, from a tax perspective.The stimulus package is great, but how will we pay for it? Vince believes that will come in future taxes on tax-deferred retirement accounts.Beyond Roth Conversions, an important thing to do is track your expenses. Nobody likes budgeting, but that might not be a formal step you need to take. Just track your expenses and see what seemingly small things you can cut out.Contact:Assured Retirement Group Website: https://assuredretirementgroup.com/Call Assured Retirement Group at 952-657-7470
There's been a lot of talk in the media (and maybe among your friends) about getting into the market now, while it's down. Buy low and sell high, right? Well today, Vince Oldre explains why he thinks it's still too early to jump back into the market. We cover the dangers of trying to "time the market" and how the old fable of The Tortoise and The Hare is relevant to current market conditions.Vince and Jon discuss the risks of getting back into the market too early, and what the next weeks and months may hold.Contact:Assured Retirement Group Website: https://assuredretirementgroup.com/Call Assured Retirement Group at 952-657-7470
In today's episode, Vince Oldre of Assured Retirement Group discusses the six steps toward a healthy retirement plan:Gather Data and check your spendingTest Your PlanTest Other Ideas You haveTest Ideas from OthersImplementationMonitoring
Vince Oldre from Assured Retirement Group rejoins us today, from the "new normal" - recording from home while the kids are preoccupied.In these unique times, investors are tempted to run to safety, but they often do so without a strategy for re-entry. Today we talk about having that strategy, and how sometimes our current lack of structure can be challenging.It all starts with having a plan, and that includes an exit strategy and perspective.One plan is to have two buckets - a "safe bucket" and a "growth bucket." Vince explains that today.Contact:Assured Retirement Group WebsiteCall Assured Retirement Group at 952-657-7470
The recent coronavirus outbreak has reminded us that market volatility can happen at any time. In today's episode, Vince Oldre tells us how to create and maintain a plan to counteract fluctuations in the market.Contact:Assured Retirement Group WebsiteCall Assured Retirement Group at 952-657-7470
The Coronavirus has had a noticeable effect on the market as of late. In today's episode, though, Vince Oldre of Assured Retirement Group tells us how to keep this story in perspective.Contact:Assured Retirement Group WebsiteCall Assured Retirement Group at 952-657-7470
First, there was the Tax Cuts and Jobs Act (TCJA), and as of January 1, we now have the SECURE Act taking affect. There are a number of new rules that can affect your financial planning. Vince and Jon break them down in today's episode.Contact:Assured Retirement Group WebsiteCall Assured Retirement Group at 952-657-7470
Coronavirus. Financial Predictions. Kobe Bryant's sudden passing. There are a number of stories in the news that can cause us to re-think our financial futures. But it's important to remember that news outlets telling us "everything is fine" doesn't attract eyeballs and clicks. Today, Vince and Jon talk about some of the recent "big" news stories, and how to process that information without deviating from your financial strategy.Contact:Assured Retirement Group WebsiteCall Assured Retirement Group at 952-657-7470
In our first episode, Vince Oldre joins Jon Gay to explain the newly passed SECURE Act, and the implications it may have on your retirement, including:Required Minimum Distribution Age changingIRA ContributionsDiscontinuance of the "Stretch IRA"Also, Vince explains why, as an advisor, he got his life insurance...from an app!Contact:Assured Retirement Group WebsiteCall Assured Retirement Group at 952-657-7470
Meet Vince Oldre of Assured Retirement Group in Minneapolis, Minnesota. Vince believes in leveraging technology in retirement planning as well as discussing topics that are sometimes too uncomfortable for other advisors to cover.Contact:Assured Retirement Group WebsiteCall Assured Retirement Group at 952-657-7470