Wright Money Tips

Most people hire a financial advisor in order to help them navigate the world of retirement planning. It can be difficult to know whether you are getting the help you need, or if someone is truly looking out for your best interest. On today's show, we ask Isaac a few questions and he'll discuss what answers indicate a red flag when trying to put together a plan. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Vanguard’s “How America Saves 2020” report is packed with lots of intriguing stats and findings about Americans and how they save for retirement in the crazy year that is 2020 (most of the recent data is technically from 2019 although some figures are current through the Spring of 2020). Isaac will take a look at the statistics in this report that are related to 401(k) plans and what he commonly sees in his practice. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Before you can effectively put together a retirement income plan, it’s important to understand your own tendencies for spending. Let’s explore the different personalities. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Football is back in most parts of the country, so it seems like a good time to see what we can learn about financial planning from the boys on the gridiron. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Let's take a brief break from the financial talk and check in with how Isaac has been holding up during this historically topsy-turvy year of 2020. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

People say a lot of things, but that doesn’t necessarily mean they know what they’re talking about. So when people say they heard something about a financial decision they should make, there’s a good chance that what they heard isn’t actually what they NEEDED to hear. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Where some people see a crisis, others see an opportunity. It could be your mindset, or maybe it's the circumstances of your life. Isaac will explain how these situations might be viewed differently and why some of these crises might be an opportunity for the right person. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

We take some financial good news, bad news situations and ask Isaac his thoughts on it. As most people prefer, we’ll give him the bad news first. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Even though these are fictional characters, we see their personalities all the time in real life. Isaac will explain what their personality looks like when it’s manifested in a real person and what he would do to help that client. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

There are plenty of people in the financial world that are guilty of crying wolf. Because they always preach the same message, we just have to eventually tune them out. Isaac will gives us examples of times that he has seen people make bad financial decisions because they’ve been influenced by one of these wolf-criers. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

The phrase “knowing what we know now” is mostly worthless. Just think about that phrase in context of the coronavirus. Would we have done things differently in January or February “knowing what we know now?” Almost certainly. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

When building a home, you need a strong foundation and structure to keep you safe and secure. Those same elements should be part of a well-built financial plan. Let's talk about some ways you can make sure you have your financial house in order. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

During these volatile times in the market, it's more important than ever to assess whether you are taking the right amount of risk with your investments. Taking the time to realign your risk could save you a lot of headaches in the months and years to come. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Sometimes people say they don’t want to retire…and sometimes they really mean it. Other times it’s just a defense mechanism to compensate for the fact that they feel like they can’t retire. So let’s explore some of the possible meanings behind the statement, “I don’t want to retire.” Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Although the Coronavirus has created plenty of hardships for our communities, from a financial perspective it's also providing us with many opportunities. Isaac will give us some quick-hitting suggestions on today's show for some investing moves you can think about making in the current market.   Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Hopefully the coronavirus economic disaster is a once-in-a-lifetime type of event. But there will certainly be some other crisis in the future that you need to be prepared for. Let’s talk about some of the lessons learned so far that will help you next time - if you weren’t prepared this time around... Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

This topic is simple. Things related to your money, finances, and retirement that should get way more attention and excitement. Let’s give them the love they deserve on this episode. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

If you really took inventory of your financial situation, you might find that you’ve been taking for granted some assets that make up a huge piece of your puzzle… Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

After it simmered in Congress for a year, the SECURE Act is now law. If you have a retirement account of any kind, or will one day inherit a retirement account, this will affect you. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

With all of the things in the financial world that you can’t control, why would you sabotage your own retirement by messing up the things you can control? Let’s discuss some ways that people sabotage their own financial health. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Sometimes you just need to go through your financial life and take out the trash. Let’s talk about the things that might need to be thrown out… Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

“Financial Security” might mean different things to different people, but for nearly everyone, making sure that they achieve their own definition of security is the most important part of their retirement plan. So, how do you define financial security? On today’s show, we’ll cover some of the popular responses we hear from clients during the planning process. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

If life insurance becomes part of your retirement plan, you need to make sure you’re able to cash in on a claim should the situation arise. Unfortunately, people make mistakes that end up preventing that from happening. We’ll tell you about those and what you can do to keep that from happening. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Have you ever had financial trouble? And we’re not just talking about the direst of situations like going bankrupt. Do you think a divorce is to blame for messing up your finances? Do you tend to think the system is rigged against the little guy? Did a former broker “do you wrong”? On today’s podcast, we’ll look at some of the common things that people might blame for their financial planning troubles. See if you identify with one of these. Are you pointing your finger in the right direction? Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

If you take a close look at most folks’ financial situations, you’ll find that it’s almost scandalous how badly their financial matters have been handled. Let’s talk about the steps people should take to create a scandal-free retirement. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Your 401(k) can be your most powerful retirement savings tool. But it’s not perfect. Let’s talk about some of the weaknesses that you should be aware of in your 401k (or 403b...or TSP...or 457). Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Today’s episode is simple. We’ll look at some of the most widely believed financial myths and try to bust them wide open. The scary thing is that a lot of people base their financial plans on some of these myths. Don’t be like that. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

It can be easy to get caught up with the "shiny objects" of the financial world. Isaac will look at a few of these "fool's gold" situations and explain why these items may be less valuable than you may have thought. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

Asking questions is always a good thing. The more you ask, the more you understand. But sometimes you don’t get the answer you need until you ask the right question. These five common financial questions are a bit better when they are rephrased and reconsidered. Important Links: Financial Dynamics Website: https://financialandestateplanning.com/ Schedule A Call: https://calendly.com/financialdynamics-inquiryteam/30mincall Call or Text: 804-777-9999

The Secure Act recently passed through the House of Representatives with overwhelming support. Today, Isaac will explain how this bill might affect you and your assets if it gets passed.

Many people use the expression that hindsight is 20-20, meaning, the ability to better understand a situation after it happens. Let's zero in on a few financial situations that might need a second look.

When it comes to financial and retirement planning, there are quite a few places where you might find yourself dealing with hidden fees. Isaac will give you a look behind the curtain as to where these fees might be hiding and how you can perhaps avoid them in the first place.

Just like you probably have a set of commandments, principles, or values that you live by, there's also a set of rules that you should follow closely when it comes to your finances. Let's discuss the four financial commandments that you should keep in mind when you go about planning and investing for your retirement.

Whenever we experience any kind of downward volatility in the stock market, we see people making drastic decisions and changes to their accounts based on emotional reactions. So this week, we'll take a look into what kind of reactions people make and we'll discuss some ways to avoid the potential consequences of overreacting.

If you're not careful, there's a handful of retirement planning hazards that can easily sneak up on you. Let's talk about what those risks are and how to properly protect yourself against them.

If you’re heading out on a road trip this summer, there’s a long checklist of items that you want to be sure you haven’t forgotten. And in retirement planning, some of those exact same items need to be addressed. Let’s look at some of the items that should appear on both your road trip checklist and your retirement planning checklist.

Let's explore some of the financial lies people tell themselves, and some of the consequences that go along with them.

For many people there's an uneasiness about quitting their job cold turkey and stepping into retirement. But retirement doesn't mean that you have to stop working, and it certainly doesn't mean you have to stop being active. So this week, Isaac will give you three important tips on how to prepare for this transition.

It can be a new and overwhelming experience transitioning from paychecks to taking money out of your retirement accounts. Let's go over some of the best withdrawal strategies and rules of thumb.

Wrapping things up in our series on the three distinct mindsets of pre-retirees, let's look at what you should be asking yourself if you're thinking, "I know I have enough money to retire."

Continuing our series on the three distinct mindsets of pre-retirees, let's discuss what questions you should be asking if you think you have enough money to retire, but aren't quite sure.

When it comes to retirement planning, people tend to have one of three distinct mindsets. This week, as the first episode in a three-part series, we'll discuss the first of those mindsets. What can you do if you're nearing retirement age and you just don't know if you'll have enough money, or you just don't know where to begin?

Common sense is not quite as common as you might think, especially when it comes to your finances. Let's talk about three areas where people tend to do the opposite of what is in their own best interest, and what you can do to avoid those missteps in the future.

Many people think that because they have a handful of legal documents in place, their legacy plan is complete. However, there are some small, commonly missed details that you'll want to be aware of to make sure that your money is being passed down in exactly the way you intend.  

For Part 2 of this series, we'll cover four more items that you should be making sure to discuss with your financial advisor to kick off the new year right and on track to reach your retirement goals.

As we start this brand new year, let's make sure that you're on track for a successful and stress-free retirement. Isaac will give you the rundown on the most important things to focus on in your retirement planning checklist on this first episode of two-part series.

You may have heard of a few types of financial risk, but how well are you taking them into account? On this episode, Isaac discusses five different types of risk that you should be aware of and how best to incorporate those unknowns into your retirement plan.

Learn how to keep a healthy mindset in retirement.

We know, it's tempting to just plan out your finances by yourself. After all, it's your life that's being planned, right? However, DIY planning can often lead to DIY disasters. It's likely you will need an experienced professional to guide you through a successful retirement, and to avoid some common mistakes that people make when planning on their own.

If you've ever taken a close look at your retirement account statements, you might have noticed a handful of graphs or projections that are essentially Greek to you. This week, Isaac discusses how to interpret those items on your statement, as well as some important things to look out for that might not even appear on your statement.

At this time of year, you can find football on TV almost every night of the week. So let’s take some concepts from the game of football and apply them to our retirement planning.