Managing Your Financial Future

What’s My Stock Allocation in Retirement? – Season 3: Episode 6
Managing Your Financial Future

What’s My Stock Allocation in Retirement? – Season 3: Episode 6

August 5, 2020

Retirement income calculators are everywhere online.  What’s more, they’re fairly simple in nature: plug in some current income and savings, expected rate of return, an inflation factor, and eventually it’ll spit back a number that you should aim to have in your portfolio that’s supposed to give you the income you need.  The trouble is – they’re often way off the mark. They may tell you that if you need, say, $100,000 of income to retire at age 65, then that number will rise to perhaps $230,000 or more by the time you’re age 95 because of the inflation factor. But from our experience, this just isn’t practical in the real world.  As retirement goes on, spending (and income needs) tend to go down over those years – not up. 
You’ll Spend Less in Retirement Than You Think – Season 3: Episode 5
Managing Your Financial Future

You’ll Spend Less in Retirement Than You Think – Season 3: Episode 5

July 28, 2020

Retirement income calculators are everywhere online.  What’s more, they’re fairly simple in nature: plug in some current income and savings, expected rate of return, an inflation factor, and eventually it’ll spit back a number that you should aim to have in your portfolio that’s supposed to give you the income you need.  The trouble is – they’re often way off the mark. They may tell you that if you need, say, $100,000 of income to retire at age 65, then that number will rise to perhaps $230,000 or more by the time you’re age 95 because of the inflation factor. But from our experience, this just isn’t practical in the real world.  As retirement goes on, spending (and income needs) tend to go down over those years – not up. 
Let’s Manage Your Taxes — While There’s Time- Season 3: Episode 1
Managing Your Financial Future

Let’s Manage Your Taxes — While There’s Time- Season 3: Episode 1

June 30, 2020

We’ll say it right up front: taxes are NOT fun.  Nobody likes to think about them, much less actually do them every year.  For most, it’s a matter of either turning them over to a professional and letting them deal with it, or trudging through it alone and hope you don’t miss anything important. But while they’re not fun to think about, they’re also a necessary evil. This is why it’s really important to give your tax situation some thought during the actual tax year, when you may be able to do something about them, rather than waiting until it’s too late. The middle of the year may be the perfect time to do some tax evaluation, because doing so could potentially save you some real money when it comes time to file next year. 
New (Temporary) RMD Rules Offer Potential Planning Opportunities – Season 2: Episode 12
Managing Your Financial Future

New (Temporary) RMD Rules Offer Potential Planning Opportunities – Season 2: Episode 12

June 2, 2020

The COVID-19 outbreak has brought with it several changes for people who are facing deadlines, including filing federal and state income taxes. Another big one has to do with Required Minimum Distributions (RMDs) for 2020 – and maybe for 2019 as well. When the SECURE Act passed at the end of 2019, it changed the age at which IRA owners must begin taking RMDs, from 70 ½ to age 72. Several weeks later, in response to the pandemic, Congress made changes again to the RMD rules through the CARES Act, allowing for more flexibility and the potential to skip the distribution for 2020.
A Mortgage Payment Strategy You’ve Never Heard Before- Season 2: Episode 11
Managing Your Financial Future

A Mortgage Payment Strategy You’ve Never Heard Before- Season 2: Episode 11

May 26, 2020

When taking out a mortgage, people often wonder if it’s better to have a 15-year loan instead of a 30-year loan.  They think of all the interest payments they’ll save by shortening the loan period, and the fact that the home would be owned free and clear in half the time. Of course, they have to be able to afford the higher payments of a 15-year loan, which for some people is a deal-breaker.  But there may be a way for you to take the 30-year loan option and still be free of mortgage payments in 15 years.  On today’s podcast, we talk about a strategy to do exactly that.
Maintaining Your Confidence in Retirement- Season 2: Episode 10
Managing Your Financial Future

Maintaining Your Confidence in Retirement- Season 2: Episode 10

May 19, 2020

The standard, cookie-cutter portfolio often consists of just three main assets: stocks, bonds and cash.  One may argue that this is not enough diversification, but that discussion aside, some investors seem to find themselves these days replacing some of their “riskier” stock portfolio with the relative safety of US Government bonds. But interest rates are at historic lows, and the reward for owning bonds is minimal, at best.  Are people really satisfied with a 10-year rate of return that’s currently paying less than 1 percent annually?  Maybe: but there may also be some bond alternatives available to you that pay a bit more than that.
Why Own Bonds in This Low Interest Rate Environment?- Season 2: Episode 9
Managing Your Financial Future

Why Own Bonds in This Low Interest Rate Environment?- Season 2: Episode 9

May 12, 2020

The standard, cookie-cutter portfolio often consists of just three main assets: stocks, bonds and cash.  One may argue that this is not enough diversification, but that discussion aside, some investors seem to find themselves these days replacing some of their “riskier” stock portfolio with the relative safety of US Government bonds. But interest rates are at historic lows, and the reward for owning bonds is minimal, at best.  Are people really satisfied with a 10-year rate of return that’s currently paying less than 1 percent annually?  Maybe: but there may also be some bond alternatives available to you that pay a bit more than that.
Don’t Neglect the Ordinary Things – Season 2: Episode 8
Managing Your Financial Future

Don’t Neglect the Ordinary Things – Season 2: Episode 8

May 5, 2020

With everything we have going on in our lives right now, with all the new things we have to deal with, it’s important to keep in mind that ordinary events still happen during extraordinary times.  Births, deaths, marriages, divorces, family events — things both in and out of your control — continue.   Part of the essence of financial planning has to do with making sure that both expected and unexpected events are properly dealt with.  This should be the goal of every financial advisor — to minimize the surprises that inevitably crop up during your lifetime.  Yes, extraordinary events do happen, but if you’re ready for them, if you’ve prepared to deal with them, then your advisor has done their job.
Answering the Everyday Financial Questions- Season 2: Episode 7
Managing Your Financial Future

Answering the Everyday Financial Questions- Season 2: Episode 7

April 28, 2020

Stock markets are volatile, people are hunkered down in their homes, and life as we know has been put on pause, at least for a while.  In spite of that, though, all of the regular financial issues still exist, pandemic or not.  And today we’re answering those emails that have come in from you, our loyal listeners, over the past few weeks. The issues at hand:  taking distributions from your IRAs even without RMD’s, fleeing the stock market out of fear, and the up-front bonuses that insurance companies often offer to people who are considering buying annuities.