A concise, straight talk show focused on retirement planning issues that'll get you the information you need to have a comfortable and fulfilling retirement.
Today's lesson: Ignore most (if not all) financial "experts" you see on TV, radio, podcasts, etc. Their goal is NOT to make you wealthy and have a comfortable retirement. Today's lesson: Ignore most (if not all) financial "experts" you see on TV, radio, podcasts, etc. Their goal is NOT to make you wealthy and have a comfortable retirement. #1: Mark Cuban, 3:32 (He has a very poor investment track record) #2 Jerome Powell and Janet Yellen, 6:04 (Just because you have a high position in DC does not mean you know what's going on in the economy) #3 Dave Ramsey, 8:31 (Bad retirement withdrawal advice) #4 Ray Dalio, 14:03 (Reckless predictions that he doesn't even stand by and no one will call him out on it because the journalists aren't incentivized to do so) Links: https://forthrightfinances.com/financial-experts-are-idiots/ https://forthrightfinances.com/the-biggest-threat-to-your-retirement-that-you-dont-know-about/
Lesson for today: Don't ever let your political beliefs change your investment decisions! Links for the show: -https://forthrightfinances.com/what-happens-when-you-mix-politics-and-investing/ -https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1509168 -https://www.wsj.com/articles/the-hidden-way-our-politics-skews-our-investing-choices-1470621902 -https://www.nytimes.com/2010/01/31/your-money/31stra.html
In this episode, I discuss how the Federal Reserve and Inflation are affecting the stock market, what could happen next, and how you should plan for it.
In this episode, I'll go through 10 retirement and investing quotes and tips from Warren Buffett and Charlie Munger.
In this episode, I'm going to discuss how to think about your bond portfolio in retirement, in a way that's more useful than simply knowing what your overall asset allocation is (ie, what percentage of stocks vs bonds you have).
In today's video I'm going to discuss a tip I saw in a recent WSJ article about retirement expenses, as well as a study on how much actual retirees spend in retirement. When you retire, it's really important to keep these two things in mind!
If you find yourself 5 to 15 years away from retirement, and you don't have as much saved up as you want, there's still time to get there, but you can't make costly mistakes along the way.
Unless you have been living under a rock for the last few years, you have heard about the most recent craze to make loads of EASY money, cryptocurrency. While there are a lot of scammers and losers in the crypto space, that does not describe everyone who buys/supports crypto. One of the good guys of the financial advisor community, Ric Edelman, thinks that you should add a 1% position of crypto into your overall portfolio. We'll go through a few of his reasons as well as my own thoughts.
Friends: there are too many people in the financial world who try to tell you that you need more complex investments the older you get, the more assets you accumulate, the higher your income goes, etc. It's complete bunk. You can grow and maintain your wealth with smart, low cost, well diversified index funds. Don't let anyone tell you otherwise.
While I greatly admire Warren Buffett, and agree with a lot of what he says, one thing that I can't get behind is his recommendation on what to do with your money if you aren't going to play the stock picking game (which I don't think you should bother to try). Tune in to hear why I disagree with his advice, and what I think you should do instead.
If you are looking to hire an advisor, this episode is a must listen so that you can avoid a big mistake with your investments that could come back to haunt you.
If you are 60 with nothing saved for retirement, I really do think you can still retire. It'll require lots of work and some sacrifices, but I think you can do it and I think it'd be worth it. Here's exactly what I would do if I was 60 with nothing saved for retirement.
Whether you love him or hate him, I really think everyone near/in retirement can learn an essential point from Elon Musk, that will be critical to your happiness in retirement. Here's the article referenced in the video: https://www.marketwatch.com/story/depression-isolation-loss-of-purpose-could-retirement-be-bad-for-your-mental-health-11643407859
Today's episode is a very short checklist of 6 things you absolutely have to do before you retire. If you can do all six, you'll be putting yourself in great shape to have a comfortable retirement.
If you've been planning to retire in the next few years, odds are that you've spent a lot of time reviewing your investments, including the account balance, the specific investments you own, the asset allocation you have, and even reading about proper distribution strategies. While all of that is important, you're actually missing the most important thing to know before you retire. Tune in to find out what that is, and then start taking action so you are prepared to have the best retirement possible.
As we all know, there is a lot of noise out there coming from TV, newspapers, friends and family members as to what we should do with our finances, and how we should plan for our retirement. A lot of it, frankly, isn't great advice. So I've been thinking: If I had the ability to speak to everyone close to or in retirement, what would I tell them? Well, that's what this podcast is about: 15 Things I Wish Every Retiree Knew.
Do you want to become a better investor? I know I do. If so, I'd encourage you to look at the lessons that female investors can teach us. Numerous studies have shown that women tend to get much higher investment returns than men. In today's episode, I'll discuss 4 lessons we can learn from women to become better investors.
If you're going to invest in the stock market (whether on your own or with a Financial Advisor), it's essential to know what your investing philosophy is. What is going to guide your decisions on how to invest? The good news is this doesn't have to be complicated. You don't need to get an MBA or degree in finance to understand (or create) an investment philosophy. In today's episode, I am going through my own investment philosophy, which I use for my own accounts as well as what I use with my clients.
We have all heard that we want to make sure our portfolio is diversified, and I've definitely said that on this podcast many times before. But what does that mean exactly? That's the topic of today's episode. We will go through 7 questions that you can ask to make sure your investment portfolio has all the characteristics of a diversified portfolio.
One of the most important things you can do to make sure you have the retirement income you want is to have a solid investment portfolio. And both mutual funds and ETFs can help you achieve that goal, but which one is best for you really depends on a number of key factors. So listen in as we discuss the similarities and differences, as well as which one is best for you.
We all know (at least intellectually) that it is never a good idea to sell your stocks when the market is down. After all, you're supposed to buy low, sell high, right? However, there are a few really good reasons why you might want to consider selling stocks. In today's podcast, we go over those reasons, inspired by Chrstine Benz over at Morningstar. Tune in to learn when it's the right time for you to sell your stocks.
If you're going to be invested in the stock market for the next 30 years (which you'll need to do if you want to create a retirement paycheck that will last for life), then you're going to experience down markets, like what we're going through so far in 2022. Tune in to today's episode as I go through 5 tips/reminders I have on how to navigate down markets.
There are a lot of debates in the investment world, but few are as important (in my mind) as the choice to invest actively vs passively. Turn in to learn the difference between the two, the pros and cons of each, as well as which strategy has done better over the long term. And I'll also share what I think you should choose as well as you prepare to create a retirement income that will last for life.
Oftentimes we are our own worst enemies. This is especially true in investing. In today's episode, we are going to detail how one investor cost himself thousands of dollars by engaging in actions that he knew he shouldn't do. Tune in to learn what mistakes he made, and how you can avoid costing yourself in the future.
Last week we talked about the Essentials of Asset Location; basically, what investments we should put in different account types. In today's episode, we go through a real life example of how very poor asset location ended up costing investors thousands (and in one case hundreds of thousands) on their tax bill. Tune in to learn from their mistake and not end up with a nasty tax surprise.
Benjamin Franklin was right on the money (pun intended) when he said the only guarantees in life are death and taxes. As frustrating as taxes are, especially after you retire, there is a way to make them lighter using asset location. If you don't know much about asset location, it is probably because it is so esoteric many financial advisors don't even bother with it. Instead, they focus on asset allocation. While that is important, a large part of your returns could be wiped out if you don't use asset location effectively. So tune in to learn more and learn how to save on taxes by using asset location properly.
Too many media stations peddle fear, and unfortunately, a lot of people fall prey to it. In this episode, I discuss a big social security fear, and what is a more realistic response in relation to this fear.
We are all busy with so many tasks, it's often hard to keep up. Instead of trying to do everything, why don't you eliminate things from your life so you don't have to bother with them ever again? That's the premise of a Wall Street Journal article in which I was quoted: What money tasks can you remove from your life entirely? In this episode I'll go through 4 money tasks to take off your to do list, including my own recommendation at the end. https://www.wsj.com/articles/four-ways-to-manage-personal-finances-11640645156
As a financial planner for over 6 years, one of the things that really frustrates me is poor explanations, as well as implications, of certain financial terms. One of the most dangerous misunderstandings is assuming that risk is the same thing as volatility. In today's episode, we will go into what those terms actually mean, as well as how that plays a role in creating a retirement income that will last for life.
I recently came across an article from a personal finance site that I typically really like. However, this particular article didn't make a lot of sense to me. In it, the author comes up with 3 reasons why you might NOT want to retire in 2022. I disagreed with every one of those points, and I don't want you to fall for the same line of thinking as the author, hence this episode discussing the article and why I disagree with it so much. In short: If you've done the work on your retirement plan, and the numbers make sense, don't let external factors dictate when you want to retire!
As we come to the end of the year, today I reflect on getting through 52 retirement planning podcast episodes, the main goal I have for the podcast, and a reminder that money is just the means, but not the ends, to what we want in life.
If you're looking for ways to give money to charity in a tax efficient way, this episode is for you. It's based off of a great article I read by Christine Benz over at Morningstar, and it highlights three ways you can give to charity this year, including one really easy one that anyone can take advantage of.
While Roth Conversions can be a great financial planning tool, they are not suitable for everyone. And there may be times when you should avoid them altogether. In today's episode, I discuss 5 reasons why you should not do a Roth Conversion. Make sure to tune in so that you can be as smart with your taxes as possible, and set yourself up for the best retirement possible.
One of the most common retirement rules of thumb is the 4% rule, which helps guide you on how much you can take in retirement distributions without running out of money. It essentially suggests that if you have $1M in investments, you can safely withdraw $40K per year, adjusted for inflation. New research by Morningstar suggests that instead of using 4% as a guide, you should use 3.3% instead. In this episode, I'll go into why I don't like using either percentage as a rule in your retirement and I'll tell you what to do instead.
I received a great question from someone recently: Should he do a giant (and I mean giant) Roth Conversion in light of potential tax increases as well as future legislation potentially ending Roth Conversions? Tune in to listen to my answer as well as 5 things to think about if you want to make a big Roth Conversion.
Today we are going to be sharing something really sad and frankly troubling for your finances. We're going to be talking about why people have poor returns on their investments. And no, it's not because the market is doing poorly. Instead, it's because of investor behavior, or in other terms, human error. Human behaviors that cause investors to walk away with much lower returns than they could. If you're looking to increase your returns and have more money for your retirement, you'll want to tune in so you can avoid these costly mistakes.
Working with a financial advisor is a really big decision, and you want to make sure you make the right choice. If you are considering hiring one for yourself and your family, I would encourage you to consider the services offered, the cost, as well as the value they can provide to you. In my experience, a lot of people talk about the cost of using a financial advisor but don't properly consider the value they can provide as well. In today's episode, I talk about 8 value propositions that a GREAT financial planner can provide to help you make the best decision for you and your family.
There's no feeling like when you are close to retirement and you know you have a really huge, juicy nest egg waiting for you. But what if I told you there was one tiny thing you may have never heard about that can ruin it? I don't mean ruin a small part of your retirement plan, but all of it! Today's episode is all about that. So if you are looking to retire in the next few years, listen in so you are fully prepared to make sure your retirement assets can last 30 plus years.
If you're looking to retire in the next few years, but you aren't sure where to start, this episode is for you. In this episode, I lay out a proven 10 step process that I think all retirees should go through as they enter into this new stage of life.
We all know somone who has sadly gotten ill later in life, and simply wasn't able to make decisions for themselves any longer. If this happens to you, do you want to have someone else make these decisions for you later in life? Or do you want to make those decisions for yourself today, while you are still healthy? If you'd like to make those decisions today, listen in as I discuss 8 health care questions you need to answer in your Estate Plan.
You've probably thought about what you want to happen to your assets when you pass away. But have you made sure that your assets will get there quickly and easily? If you haven't, your assets may be subject to probate, which is a government process that can be time-consuming and costly. If you're looking to avoid that cost and hassle, turn in to learn what probate is, as well as why and how you can avoid it.
If you are like most people, you probably know you should create an estate plan, but you haven't gotten around to it just yet. Before you do, make sure to learn the similarities and differences between a will and a trust so that you can be best prepared to create an Estate Plan that ensures your wishes are met when (not if) something happens to you.
One of the most important but often overlooked parts of your financial life is your Estate Plan. Creating (or reviewing) your estate plan, especially before you retire, is of critical importance. In this episode, we will talk about what an estate plan will do for you, why you need one, and some common documents you might need to create.
Over the last few years, the stock market has continually hit new, record highs. And it leads many people to ask: Should I really be investing at stock market highs? In this episode, we will discuss when it makes sense not to invest money, and 4 reasons why it makes a lot of sense to invest at stock market highs (as long as you have the right time horizon).
Inflation is often underestimated when it comes to your retirement and can have a harmful effect on your purchasing power over 3 plus decades. So in this episode, we discuss 4 practical strategies that you could use to make sure that you have a comfortable retirement for the duration of your retirement, without having to cut back in significant ways later on in life.
Inflation has an important, and often hidden, impact on your retirement plans. If you don't plan for it, it could seriously impact your lifestyle in retirement, especially in your 70s, 80s, and 90s. In today's episode, we talk about what inflation is, what the average has been historically, and why it's been so high recently.
In today's episode, we cover the essentials of what an annuity is, the three most common types of annuities, as well as pros and cons of using them as a retirement income stream. If buying an annuity has ever crossed your mind, you will want to tune in so you can make an informed decision about if they are right for you.
You've had 30 plus years of creating a paycheck from your job - but once you quit, how do you create a retirement paycheck that will last you for life? In today's episode, we are going to discuss three strategies that you can use to create your retirement paycheck, as well as discuss how they compare to the popular 4% withdrawal rule (which we discussed previously on the podcast). If you'd like help in creating your retirement paycheck, you can schedule a no obligation consultation at StartMyRetirement.US
In today's episode, we discuss the very popular and useful rule of thumb known as the 4% rule. We will specifically talk about what it is, what it tells us in terms of how much we can withdraw, and whether we should use it to create an income in retirement. If you'd like help in creating your own retirement income strategy, you can schedule a time with me here to discuss: StartMyRetirement.US
Are you thinking of keeping (or buying) a rental property to generate income in your retirement? If so, you need to make sure you listen to this episode where I go through the pros and cons of having a rental property in retirement and the things you really need to consider before making a decision.
A lot of people aren't clear on what financial planning exactly is, so in this episode we go through a case study featuring Elvis and Priscilla Presley, and how they were helped by working with a retirement planning expert. If you'd like help on your own retirement, go to: StartMyRetirement.US
© 2020-2025 Ivy Podcast Discovery LLC
