Podcasts

Managing Your Financial Future

How to Set Up Bucket One- Season 7: Episode 5

October 12, 2021

The basic idea of a Buckets strategy involves taking portfolio distributions from a non-volatile source: what we call Bucket #1.  You never want to be in a position where you have to sell volatile assets (like stocks) to fund your short-term monthly expenses. But does this mean that you need to have several years’ worth of cash sitting around to make sure it’s there when you need it?  The short answer is no – you just need to “bucketize” the bucket. But how do you do that?  It’s not as simple as it seems.

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CAPitalize Your Debt -Season 2: Episode 7

October 11, 2021

For those who owe a lot of money to creditors, debt can seem like a really bad thing. And the bigger the debt, the worse the situation. And for those on the other side of the spectrum, those who are essentially debt-free, life can certainly seem a lot easier, at least financially speaking. There’s no shortage of financial pundits who tell you how much better your life will be if you eliminate all of your debts. But is this really sound advice? Perhaps not. There may be some instances where debt can actually work in your favor.

Managing Your Financial Future

How To Manage Your Tax Bill, Now and in Retirement – Season 7: Episode 4

October 5, 2021

It’s been said that taxes are perhaps the biggest drag on your portfolio’s returns. So it would stand to reason that managing your taxes, with the goal of keeping them as low as possible over the course of many years, should be one of your biggest financial planning priorities. But “managing” your taxes is different from “minimizing” them. There may indeed be times where paying a little more in taxes now could save you much more down the road: maybe for the rest of your life.

Managing Your Financial Future

Know Your Pension Options: Lump Sum, or Annuity? – Season 7: Episode 3

September 28, 2021

For anyone with a pension, the decision of how to take the payments is an important one.  Are you offered the choice to take the entire amount as a lump sum?  If so, you’ve got to know about what could happen when you decide to go one way or the other. And for married people, there are even more choices, compounding the issue even further.

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CAPitalize Your Savings -Season 2: Episode 6

September 27, 2021

People sometimes wonder if “Cash is King,” or if “Cash is Trash.”   What if the answer is neither…or both?   Something as simple as how much you need to have in savings truly depends on your individual situation — and the variables are endless.  Do you work for the government and have a steady income?  Are you an owner of a company where your income fluctuates?  Are you a dentist and perhaps struggle to understand how much cash to have in your personal savings and business account?   On today’s episode, I talk about how to be prudent with your savings (and where to store it)!

Managing Your Financial Future

How Should You Invest in Your 401k?- Season 7: Episode 2

September 21, 2021

If you’ve ever looked at your investment options inside your 401k plan (or other retirement plan at work), you might have felt overwhelmed by the number of choices. Even if your choices aren’t necessarily numerous, how do you know whether you should go all in with stocks, or maybe keep it safer with a blend of volatile and non-volatile assets?  This decision is big, and going the wrong way can lead to significantly different outcomes in the future. 

Managing Your Financial Future

Roth or Traditional IRA – How Do You Decide?- Season 7: Episode 1

September 14, 2021

When it comes to saving for retirement, the decision to put your money into either a Roth or a Traditional IRA may be more complicated than you think.  Part of the decision involves your tax bracket today vs. your tax bracket at retirement, but there’s more to it than that. When is investing in a Roth IRA a better idea than a traditional?  On the other hand, who should consider a Traditional IRA over a Roth?  And what are the consequences, good and bad, of doing one or the other? 

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CAPitalize Your Expenses -Season 2: Episode 5

September 13, 2021

An often-overlooked aspect of personal finance is how much you spend each month — yet getting a grasp on it is “mission critical.” For many people, talking about spending and expenses is embarrassing, overwhelming, and sometimes downright despicable.  My question is this: why does it have to be that way? Wouldn’t it be great if you could have someone to listen to, who can calmly and systematically break down “Expenses 101” so you could walk away and feel confident about everything there is to know regarding your spending habits and needs? Well, guess what: you’ve come to the right place!

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CAPitalizing Your Cash -Season 2: Episode 4

August 30, 2021

Cash: is it good or is it bad? Here’s a better question: How much is too much?  Believe it or not, there is such thing as having too much cash! On today’s Episode, “CAPitalizing Your Cash,” I take you through the good, bad and ugly in regards to this often-misunderstood asset.  Cash is both valuable and useless — so understanding the BALANCE is key. Tune in, and prepare to view cash in a totally different way!

Managing Your Financial Future

How Much Can I Withdraw From My Portfolio?- Season 6: Episode 12

August 23, 2021

So you’ve made it to retirement, and, presumably, you’ve got a certain amount of money saved up that you’ll need to tap into from time to time.  But you’re concerned: you don’t want to take too much, because you don’t now how long you’ll live, and thus have no idea how much is “too much” to take out. This is a common dilemma for retirees.  You need a certain amount to meet your basic expenses, but the money may have to last at least a few decades.  Is there a “safe” amount you can withdraw each month so that you won’t outlive your savings?

Managing Your Financial Future

How Your Pension May Reduce Your Social Security Benefits- Season 6: Episode 11

August 17, 2021

So let’s say your idea is to take your Social Security early, maybe age 62 or 63, and then wait until age 65 to begin your pension benefits.  You know what both your Social Security and pension payments will be, and so you set up your budget and your lifestyle accordingly. But then you find out, maybe too late, that your Social Security payments have been reduced — or even eliminated — once those pension benefits kick in.  All of your careful planning has been cast overboard, and now you have to wing it.  That scenario can happen to those who aren’t aware of the rules regarding Social Security benefits and certain pension payments.  Find out more about what to expect, and how to deal with it

Managing Your Financial Future

Can Kids and Ex-Spouses Receive Social Security Benefits?- Season 6: Episode 10

August 10, 2021

The topic of Social Security always brings with it many questions, which isn’t surprising, given the complex nature of the program. Beyond the most popular questions, though, are a few that may impact you, even if you didn’t think to ask about them. Two of those topics are these:  Can I work and still collect a Social Security benefit? Can my  kids, or my ex-spouse, collect a benefit based on my work record? The answer to each of these questions is yes — if.  What are the “ifs” you need to know about?