SML Planning Minute

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SML’s Planning Minute will provide brief yet thought-provoking financial planning ideas for individuals, families, business owners and executives. Topics cover a broad range of issues including personal financial planning, retirement planning, life insurance protection planning, estate tax and liqui…

Security Mutual Life Advanced Markets Team

Binghamton, New York USA


    • May 27, 2025 LATEST EPISODE
    • weekly NEW EPISODES
    • 8m AVG DURATION
    • 448 EPISODES

    4.8 from 18 ratings Listeners of SML Planning Minute that love the show mention: great.



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    Latest episodes from SML Planning Minute

    Selecting the Right Entity for Your New Business

    Play Episode Listen Later May 27, 2025 7:56


    Episode 334 - Just starting a business? Do you understand the differences between a sole proprietorship, partnership, C corporation, S corporation or LLC? What type is best for you?

    Eight Reasons Why Young People Need Life Insurance

    Play Episode Listen Later May 20, 2025 7:20


    Episode 333 - Do young people need life insurance? Here are eight good reasons why they might.

    Planning for Retirement

    Play Episode Listen Later May 13, 2025 9:42


    Episode 332 - Most Americans are very concerned with the adequacy of their retirement savings, and whether rising health care costs and inflation will adversely affect their retirement. Many are also concerned with the availability of Social Security. There are many resources and tools available to help you plan.

    Understanding Opportunity Cost

    Play Episode Listen Later May 6, 2025 7:16


    Episode 331 - Opportunity cost is an often-overlooked factor that has an effect on every financial decision you make. Understanding this concept can have a significant impact on how you approach even the most basic of financial decisions.

    New Challenges for a Long Retirement

    Play Episode Listen Later Apr 29, 2025 7:45


    Episode 330 - The prospect of increased longevity should make all of us smile, but it creates issues that prior generations rarely had to face. Are you ready to deal with the consequences?

    Debunking Common Myths About Retirement

    Play Episode Listen Later Apr 22, 2025 6:45


    Episode 329 - With retirement planning, as with most financial principles, every situation is different. That said, we all need a few guidelines to see if we are going in the right direction. But these basic ideas evolve over time as demographics, life expectancy, tax laws and available products all change. He are a few ideas that could use a good debunking.

    Can I Avoid the Dreaded IRS Audit?

    Play Episode Listen Later Apr 15, 2025 7:43


    Episode 328 - There are few things that create more fear and loathing than a so-called “exam letter” from the IRS. It means that you're likely looking at a significant time commitment just to put together the documentation they're looking for, along with potential new taxes, interest, penalties, and accounting fees. Here are a few things that may end up triggering a tax audit.

    What Have Billionaires Been Up to Lately?

    Play Episode Listen Later Apr 8, 2025 6:41


    Episode 327 - Billionaires are considered role models by many and disliked by many others. Although relatively tiny in terms of numbers, they have an enormous influence on our economy. Where are they headed these days?

    Understanding Social Security Taxation

    Play Episode Listen Later Apr 1, 2025 7:16


    Episode 326 - There's been a lot of talk lately about making Social Security income tax-free. This would certainly be a popular move, especially for seniors. But doing so comes at a steep price.

    Five Reasons to Purchase Life Insurance for Your Children

    Play Episode Listen Later Mar 25, 2025 8:21


    Episode 325 - Should you buy a life insurance policy on your newborn or young child? Here are five things to consider.

    Careless Spending Can Erode Income Gains

    Play Episode Listen Later Mar 18, 2025 6:53


    Episode 324 - If your income goes up over time, it doesn't necessarily mean that you'll be able to save more. If you're not careful, “lifestyle creep” can make things worse. Here are a few ideas on how to fight back against lifestyle creep.

    Six Estate Planning Tips from Warren Buffett

    Play Episode Listen Later Mar 11, 2025 6:39


    Episode 323 - The investment wisdom of Warren Buffett is well known through his annual letter to shareholders. But he has some unique ideas about estate planning as well. Here are six of Buffett's more important estate planning concepts.

    Are These the Good Old Days? – Revisited

    Play Episode Listen Later Mar 4, 2025 6:37


    Episode 322 - There's bad news everywhere you look. Political polarization in the USA, war in the Middle East, and natural disasters all over the place. But what if things are actually better than we realize? Here are some reasons to celebrate.

    Can Money Buy You a Longer Life?

    Play Episode Listen Later Feb 25, 2025 5:49


    Episode 321 - Can money buy you a longer life? Surprisingly, in some cases it can.

    Financial Infidelity is a Real Thing

    Play Episode Listen Later Feb 18, 2025 6:18


    Episode 320 - Financial infidelity is a real thing. And the problem may be worse than most people realize. Two new surveys provide us with some fascinating details.

    What is a Spendthrift Clause, and When Do People Use It?

    Play Episode Listen Later Feb 11, 2025 6:48


    Episode 319 - Life doesn't necessarily get easier when you accumulate wealth. There's always something to worry about, and at some point, if you're lucky, your worries evolve from accumulating your wealth to protecting it. If you're worried about future generations destroying the wealth you've worked to accumulate, a spendthrift clause could help ease your mind.

    Is Gen Z Falling Behind Already?

    Play Episode Listen Later Feb 4, 2025 6:13


    Episode 318 - Generation Z, born after 1996, is just getting started with their financial lives. How are they doing so far?

    Five Ways to Help Protect Yourself from Scams in 2025

    Play Episode Listen Later Jan 28, 2025 7:21


    Episode 317 - Be on the lookout. Internet scams are getting more sophisticated. Here are five ways to help protect yourself.

    Getting Life Insurance is Easier Than it Used to Be with Angela Thieschafer Revisited

    Play Episode Listen Later Jan 21, 2025 13:20


    Episode 316 - The process of getting life insurance is a lot easier than it used to be. In this podcast, we will learn why, with special guest Angela Thieschafer.

    What Counts as a Will?

    Play Episode Listen Later Jan 14, 2025 6:31


    Episode 315 - Can you write your own will simply by recording a video with your cell phone? Not so fast, a Montana court has ruled. In many cases, it needs to be in writing

    The Social Security Fairness Act: Is it Really Fair?

    Play Episode Listen Later Jan 7, 2025 8:02


    Episode 314 - The President is about to sign the Social Security Fairness Act into law. But is it really fair? And how does it affect Social Security's solvency?

    Dealing with Grief and Your Finances at the Same Time

    Play Episode Listen Later Dec 31, 2024 7:09


    Episode 313 - It's probably the last thing you want to think about if you've just lost your spouse. But no matter who you are, no matter what your situation, financial issues are always there, and no matter how difficult, you're going to have to address them.

    How Much Money Do You Need to be Considered Wealthy? – Revisited

    Play Episode Listen Later Dec 23, 2024 6:24


    Episode 312 - Do you have enough money to be considered wealthy? A recent survey by Charles Schwab and Company has the answer.

    The Biggest Regrets People Have in Retirement, and Lessons for Future Generations

    Play Episode Listen Later Dec 17, 2024 7:55


    Episode 311 - There is so much that younger generations can learn from their elders. Not just from the things they got right, but from the things they got wrong. A recent study by the TransAmerica Center for Retirement Studies can help young people figure out some of the things they can do for their own future by avoiding the same mistakes.

    lessons retirement regrets future generations transamerica center retirement studies
    Go Beyond Financial Considerations when Deciding to Downsize

    Play Episode Listen Later Dec 10, 2024 8:09


    Episode 310 - When you get past a certain age, downsizing always seems to sound like a good idea. But is it really? What are the really important considerations you need to keep in mind?

    One Third of People Have More Credit Card Debt Than Emergency Savings

    Play Episode Listen Later Dec 3, 2024 7:02


    Episode 309 - According to a recent study, an astounding 36% of Americans have more credit card debt than emergency savings, and 27% have no emergency savings at all. These sobering statistics spotlight a glaring hole in many Americans' finances. If this is you, how do you start to climb out?

    5 Ways to Use Home Equity as a Source for Retirement Income

    Play Episode Listen Later Nov 26, 2024 7:03


    Episode 308 - For many, many people, their home is their biggest asset. Can you use your home to fund a portion of your retirement? It's not ideal, but here are five ideas you can try if you need to.

    Six Ideas on How to Manage Debt

    Play Episode Listen Later Nov 19, 2024 6:59


    Episode 307 - According to an estimate by Experian, the average American adult holds $6,501 in credit card debt. Is there a way out? Here are six things that you might want to try.

    Behavioral Economics, and How it Affects Your Financial Decisions Revisited

    Play Episode Listen Later Nov 12, 2024 9:16


    Episode 306 - Behavioral economics has become a buzzword over the last few years. But understanding its role in making financial decisions can lead to a better outcome.

    Business Succession Planning Needed More Now Than Ever

    Play Episode Listen Later Nov 5, 2024 9:13


    Episode 305 - It has never been a more important time to consider business succession planning for small business owners to ensure that their financial security, retirement and family legacy plans are fulfilled.

    Connecting the Dots: Using Life Insurance With Social Security

    Play Episode Listen Later Oct 29, 2024 8:58


    Episode 304 - Even when you optimize your Social Security claiming strategy, there are still going to be problems that need fixing. Life insurance can be the perfect tool to address some of the shortcomings that Social Security creates.

    Does It Make Sense to Give Money to Your Kids While You're Still Living?

    Play Episode Listen Later Oct 22, 2024 7:08


    Episode 303 - “Accelerated inheritance” is a new term for an old idea: giving assets to your kids while you're still living, rather than waiting until you die. But does it work?

    Nine Thoughts on Divorce and Finance

    Play Episode Listen Later Oct 15, 2024 5:44


    Episode 302 - Is divorce ever easy? Almost never. And the financial aspects can be especially tricky. Here are 9 thoughts that may help you weather the storm.

    Planning for Single Parents Revisited

    Play Episode Listen Later Oct 8, 2024 8:52


    Episode 301 - Single parents must have their financial house in order, through insurance, financial and estate plans, to help protect their sources of income, existing assets and their children.

    Why You Need a Real Person to Help With Your Life Insurance Needs

    Play Episode Listen Later Oct 1, 2024 8:03


    Episode 300 - Anyone who has ever tried to call a large bank or medical practice knows one simple truth: It's becoming increasingly difficult to talk to a real person. But that's just what so many of us need. The case for interaction with a real people is especially important when it comes to life insurance.

    Important Retirement Savings Rules Changes You May Have Missed

    Play Episode Listen Later Sep 24, 2024 7:41


    Episode 299 - The Secure Act and Secure 2.0 were both designed to assist people when it comes to saving for retirement. But as with any new law, the rules can be confusing, and some of the provisions are still being phased in.

    Planning is a Dynamic, Not a Once-and-Done, Process

    Play Episode Listen Later Sep 17, 2024 8:38


    Episode 298 - No matter what was planned for, the plan must be regularly reviewed and updated to meet changing family, financial, economic, political and legal environments. Planning is a dynamic process that doesn't end.

    Millennials, Gen X and Gen Z Need to Prepare for Retirement Now Revisited

    Play Episode Listen Later Sep 10, 2024 6:24


    Episode 297 - Whether you're hoping to achieve financial independence and retire early as part of the FIRE movement or later, Millennials and members of Gen Z and Gen X need to prepare for retirement now.

    Celebrity Estates: Discord in Tony Bennett's Family

    Play Episode Listen Later Sep 3, 2024 5:47


    Episode 296 - The death of Tony Bennett in 2023 seems to have created a family rift that is now playing out in court. Could it have been prevented?

    Can You Save Too Much for Retirement?

    Play Episode Listen Later Aug 27, 2024 6:57


    Episode 295 - Is it possible to save too much for retirement? Some have argued that the answer is yes, but with caveats.

    The IRS Digs Deeper

    Play Episode Listen Later Aug 20, 2024 6:21


    Episode 294 - For several years, the IRS has been focusing its audit activity on people making more than $10 million per year. But the results have been disappointing, and the IRS has decided to aim lower.

    Estate Tax Uncertainty – Will We or Won't We? A Potential Solution for Married Couples

    Play Episode Listen Later Aug 13, 2024 7:36


    Episode 293 - As we get closer and closer to the sunset of the estate tax provisions in the Tax Cuts and Jobs Act of 2017, wealthy married couples have options to remain flexible with their planning using survivorship life insurance.

    Don’t Make This Million-Dollar Mistake with Your 401(k)!

    Play Episode Listen Later Aug 6, 2024 7:29


    Episode 292 - Don't make a million-dollar mistake, as Jeffrey Rolison apparently did, by failing to regularly review and update the beneficiary designation on his company sponsored retirement plan.

    Does State Taxation Cause the Wealthy to Move to Different States? – (Revisited)

    Play Episode Listen Later Jul 30, 2024 5:24


    Episode 291 - States with high income and estate taxes may cause the wealthy to move to another state with one or the other, but not both taxes.

    The U.S. Supreme Court Rules Against the Moores!

    Play Episode Listen Later Jul 23, 2024 7:01 Transcription Available


    Episode 290 - Charles and Kathleen Moore lose their appeal in the U.S. Supreme Court to fight a tax. What does that mean for the wealthy?

    Can Money Buy You Happiness?

    Play Episode Listen Later Jul 16, 2024 5:33


    Episode 289 - Can money buy you happiness? Scientists have taken a new look at the age-old question.

    New Study Confirms: 20 Percent of Americans over Age 50 Have No Retirement Savings at All

    Play Episode Listen Later Jul 9, 2024 5:39


    Episode 288 - A new study by AARP confirms what so many people have long suspected: Retirement insecurity is real. In fact, 20 percent of Americans over age 50 have no retirement savings at all.

    Business Owners: Reach Out to Your Attorney and Insurance Agent Immediately!

    Play Episode Listen Later Jun 25, 2024 8:58


    Episode 287 - Business owners who have entity purchase or stock redemption buy-sell agreements need to consult with their insurance agents and attorneys immediately, to determine whether their situation is impacted by a recent U.S. Supreme Court decision known as Connelly.

    Why Don't Schools Teach Financial Literacy?

    Play Episode Listen Later Jun 18, 2024 5:55


    Episode 286 - A recent study by the National Financial Educators Council (NFEC) reached a startling conclusion: The majority of high school age respondents received a failing grade when it came to basic financial literacy. What can be done about it?

    Investment Scams Are Becoming More Sophisticated

    Play Episode Listen Later Jun 10, 2024 6:54


    Episode 285 - Once again, the IRS has come out with its “Dirty Dozen” tax scams. Don't be a victim!

    10 Common Mistakes Made with Life Insurance Beneficiary Designations, Revisited – Part 2

    Play Episode Listen Later Jun 4, 2024 10:15


    Episode 284 - Mistakes are commonly made on life insurance policy beneficiary designations. Life events also necessitate changes, which is why regular reviews are important. Here are 5 more of the most common mistakes.

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