Managing Your Financial Future

The Market’s Down: Is This a Good Time For a Roth Conversion?- Episode 115
Managing Your Financial Future

The Market’s Down: Is This a Good Time For a Roth Conversion?- Episode 115

November 15, 2022

A little over a year ago, when the markets were sitting at all-time highs, we addressed the wisdom (or maybe lack thereof?) of converting a traditional IRA (or 401k) to a Roth. Since taxes must be paid in the conversion process, we wondered if high valuations would make it less desirable at that time. The markets in 2022 have not been so kind to investors, as values across the board have come down, in some cases significantly. Given these circumstances, are lower stock values any better for those who want to convert? Or are other factors also at play when making this decision? Podcast host Johnny Dean speaks with his guest, “Professor” Rick Plum, CFP® about what you still need to consider when doing a Roth conversion in this week’s episode of Managing Your Financial Future!
Rising Interest Rates: Good or Bad Time to Own Bonds?- Episode 113
Managing Your Financial Future

Rising Interest Rates: Good or Bad Time to Own Bonds?- Episode 113

November 1, 2022

A couple of years ago, we asked the question: why would you own bonds when they (were) paying so little interest?  Many others wondered the same thing, turning to the stock market to help potentially bolster their overall rate of return. Interest rates have risen dramatically in 2022, which changes the question just a bit: is it good to own bonds during a period of rising interest rates?  As rates go up, the value of your bonds goes down.  Wouldn’t it seem like it’s better to own bonds when interest rates are falling?  And what about bond funds? It’s a complicated world out there, but podcast host Johnny Dean and his guest, Rick “The Professor” Plum, CFP® provide you with some answers on this week’s episode of Managing Your Financial Future!
What’s The Ideal Number of Stocks You Should Own?- Episode 112
Managing Your Financial Future

What’s The Ideal Number of Stocks You Should Own?- Episode 112

October 25, 2022

One of the most well-known investing terms is “diversification.”  This is the idea that risk can be spread out by investing over a wide variety of different industries, areas, and/ or financial instruments. While this true to an extent, there is such a thing as being over-diversified, to the point where much (if not all) of your rate of return is watered down by having too many stocks with varying rates of return. So is there potentially an “ideal” number of stocks you should own, one that walks the line between the two extremes?  Find out from “Professor” Rick Plum, CFP® and podcast host Johnny Dean on this week’s episode of Managing Your Financial Future!
Why Other Advisors Now Advocate Buckets- Episode 111
Managing Your Financial Future

Why Other Advisors Now Advocate Buckets- Episode 111

October 18, 2022

We’ve been strong advocates of the Bucket Strategy since the 1990s, and came to the conclusion long ago that no one should have to depend on stock market gains to fund their current living expenses.  Buckets was designed to address that issue. With the stock market going through yet another down cycle in 2022, the issue of maintaining a guaranteed cash flow in retirement is once again at the top of many retirees’ concerns. And with that, we’ve found that other advisors around the country have also determined that a Bucket strategy may be the best way to help address those concerns. This week, podcast host Johnny Dean and Rick “The Professor” Plum, CFP speak with Joe Accardi, founder and chairman of the Accardi Financial Group in Boston, MA.  Mr. Accardi speaks about how his experiences many years ago led him to the Bucket Strategy, and why his firm uses it to provide income to their clients.
The Biggest Tax Issues We’ve Seen In 2022- Episode 110
Managing Your Financial Future

The Biggest Tax Issues We’ve Seen In 2022- Episode 110

October 11, 2022

2022 has been a year of stock market volatility, but it’s also been a year that’s given many people a surprise on their tax bill.  When income from stocks is down, you might think that your tax bill should be lower. But in some instances, this hasn’t been the case. Part of the problem stems from the fact that stocks ended 2021 on such a high note. Because of that, your Required Minimum Distributions for this year, which are based on your year-end balance from last December, have often been higher than many people expected. And why are some people getting a bill this year for extra capital gains taxes? These questions and more are answered this week as podcast host Johnny Dean speaks with “Professor” Rick Plum, CFP® and Lucia Capital Group Advisor Jonathan Savona, CFP® on this week’s episode of Managing Your Financial Future.
The Dangers of Chasing Yield- Episode 109
Managing Your Financial Future

The Dangers of Chasing Yield- Episode 109

October 4, 2022

As some investors already know, there is a distinct correlation between risk and reward. The greater the potential reward for an investment, the higher the risk. On the other side of the coin, lower-risk investments tend to produce lower rates of return. This is something that many people often forget — especially those investors who are new to the game. If you pay attention only to a particular investment’s prior performance without looking at the potential risks involved, there could be devastating consequences for your portfolio later on. Purchasing investments based solely on their rate of return is what’s known as “chasing yield,” and it’s a mistake that can and should be avoided.
Where Should You Invest In Your 401k?- Episode 107
Managing Your Financial Future

Where Should You Invest In Your 401k?- Episode 107

September 20, 2022

A 401k is often looked at as a “set it and forget it” type of plan: allocate your investments, and simply make regular ongoing contributions from there.  And if you’re a young person who’s many years away from retirement, that may be a very sound way to look at it. But while a 401k may be somewhat “think-proof,” your asset allocation within the plan is actually very important.  A young person may not want to be too conservative, while someone who’s nearing retirement may be better served with a less aggressive strategy. Seems obvious, right?  Maybe not.  Podcast host Johnny Dean and “Professor” Rick Plum, CFP® offer some very helpful tips on what you need to know about your 401k investments on this week’s episode of Managing Your Financial Future!
A Tale Of Two Retirements: One Good, One Bad- Episode 106
Managing Your Financial Future

A Tale Of Two Retirements: One Good, One Bad- Episode 106

September 13, 2022

How is it possible that two individuals could retire with the exact same portfolio allocation and use the exact same withdrawal strategy, and yet one is still going strong after 40 years while the other is completely destroyed before year 10? The problem comes with the uncontrollable element of investing: the stock market itself. What happens with the markets in the first few years after retirement can determine the success or failure of a financial strategy. This is why your strategy needs to anticipate what may happen before it actually does happen. Learn more about how to potentially protect yourself from the uncontrollable market swings with podcast host Johnny Dean and Rick “The Professor” Plum, CFP® on this week’s episode of Managing Your Financial Future!