Advice on Building Wealth & Retirement Planning - A/B Conversations: CFP® Your Way Out Of It

"One of the most heartening finding in this study is that the pandemic has led to a notable spark in generational generosity.  One in three (34%) adult Americans, 85 million people loaned or gave money to a family member or friend who was impacted by the pandemic" 

Source: https://www.edwardjones.com/sites/default/files/acquiadam/2021-01/Edward-Jones-4-Pillars-US-report.pdf

Have you ever gifted or loaned money to support a loved one? Are you considering gifting or loaning money to support a loved one?  Listen to this podcast episode to understand different scenarios for doing so and the things you should be considering.

[1:38] Delineating between what is a loan and what is an outright gift
[2:43] Things to consider if it is a gift
[6:49] Being cognizant of if the gift is appropriate
[8:46] If it's a formal loan, there are some things to think about
[12:28] Why a loan makes sense
[16:07] Podcast recap

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For more insights on everyday financial planning questions,  go to www.haasfinancialgroup.com

Contact Us:
Email us at [email protected]

Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.

No one likes to lose money, but once in a while it can actually be a good thing! If you own a non-retirement account or basically any investment outside of your retirement assets, you can deduct a loss on your tax return. There is a limit and some caveats in order to deduct your losses. To find out all that it entails, check out this podcast episode! 

[1:33] What is tax loss harvesting and what type of accounts does it affect?
[3:36] Why is it important?
[5:36] When is a good time to review investments?
[6:32] How much can you deduct?
[10:22] Our role in the process.
[12:29] Proposed changes with the capital gains rate.
[13:47] Why it's good to claim losses.
[15:47] What is the wash sale rule?

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If you want to be notified when the next episode will be released, you can:

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For more insights on everyday financial planning questions,  go to www.haasfinancialgroup.com

Contact Us:
Email us at [email protected]

Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.

Have you been considering a big purchase but you’re concerned you can’t afford it since you’re retired? Is making a large purchase in retirement a smart idea? What is the most efficient way to buy a large purchase in retirement? We believe it comes down to two things: can you afford it and what is the most efficient way to go about it. Listen to this episode to hear the logistics of how we would use financial planning to answer those questions.

[2:50] Feedback on affordability of the decision
[7:06] Getting a loan vs. paying for the purchase outright
[10:53] Tax impacts if you chose to withdraw money from a retirement account
[14:45] If you have to liquidate some savings, what are you liquidating?

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If you want to be notified when the next episode will be released, you can:

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For more insights on everyday financial planning questions,  go to www.haasfinancialgroup.com

Contact Us:
Email us at [email protected]

Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.

Asset accumulators have a long runway until retirement.  Starting the financial planning process early builds a solid financial foundation to ensure success in the future. Those starting out have competing goals, such as saving for retirement, buying a larger house for a growing family, paying down debt, or saving for their kids’ education. With all these financial aspirations, which one should be prioritized? That’s where financial planning comes in! 

Listen to Ben and Adam talk about our subscription-based planning process, where we take the time to think about your resources, your goals, your values, your opportunities, and your threats and continue to evaluate and adapt as things change in your life.

[1:13] What is a DINK (dual income, no kids)? What is an OINK (one income, numerous kids)?
[4:17] This A/B Conversion is geared towards younger families
[6:18] Why OINKS need to be more conservative and build bigger buffers
[8:11] Taking advantage of employer provided benefits
[10:53] Being sensitive to cash flow
[11:26] Planning with competing goals
[13:26] Importance of insurance and estate planning

To learn more about our planning process for diligent savers with competing goals, check out our sample client profile by clicking the link below:

https://www.haasfinancialgroup.com/diligent-savers-competing-goals

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Thanks for listening!

If you want to be notified when the next episode will be released, you can:

• Subscribe to the Show

For more insights on everyday financial planning questions,  go to www.haasfinancialgroup.com

Contact Us:
Email us at [email protected]

Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.

In this A/B Conversations episode, we discuss asset protection strategies. People want security in life by having safety nets in place when life happens and the unexpected occurs. Luckily, there are strategies to protect financial wealth! Our goal at HFG is to provide the education and plan for the what if’s that happen.  Listen to find out more!  

[3:16] What do we mean by protecting assets?
[4:02] Areas to focus on: Investments
[7:06] Areas to focus on: Insurance
[9:03] Areas to focus on: Taxes
[11:41] Areas to focus on: Estate Taxes
[14:24] Protection against litigation/identity theft

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If you want to be notified when the next episode will be released, you can:

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For more insights on everyday financial planning questions,  go to www.haasfinancialgroup.com

Contact Us:
Email us at [email protected]

Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.

Open enrollment comes once a year and is a great time for you to review your work benefits and update them to better fit your current financial life. Life changes. What you may have originally picked for your health benefits might not be the best fit anymore for you and your family.  Making sure that your work benefits line up with all the other pieces of your financial life is important so it fits into the grand scheme of your financial plan.   In this podcast episode, we give education around what you should focus on during open enrollment time.

[3:30] Be forward looking with any family or medical changes that may happen in the next year
[5:03] Health Savings Accounts, Flexible Spending Accounts
[7:04] Other insurances to consider
[10:39] Quick run down in disability
[13:56] Retirement savings, 401ks
[18:55] The roll that open enrollment plays in big picture planning

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If you want to be notified when the next episode will be released, you can:

• Subscribe to the Show

For more insights on everyday financial planning questions,  go to www.haasfinancialgroup.com

Contact Us:
Email us at [email protected]

Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.

In this podcast episode, we talk about what net worth is, what makes up net worth, and what it actually means.  We also discuss why not all net worths are created equal, how net worth changes depending on your phase of life, and why liquidity is important.  We want to help you grow your net worth to the point where it supports you for the rest of your life.

[1:52] What is net worth?
[5:47] Not all net worths are created equal
[8:42] Tracking your net worth depending on your phase of life
[12:18] Why liquidity is important

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Thanks for listening!

If you want to be notified when the next episode will be released, you can:

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For more insights on everyday financial planning questions,  go to www.haasfinancialgroup.com

Contact Us:
Email us at [email protected]

Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.

In this podcast, we clarify our fees and how we get paid.  We believe everyone should be paying for advice through a financial planning process.  We explain our process, the two ways we can get paid for financial planning, and how we get compensated for providing investment advice by managing assets. 

[3:02] Right now, we are fee-based
[4:19] The two ways we get paid
[5:04] Initial meeting & the proposal are free of charge
[6:52] Our quoted fee is the fee
[8:35] Subscription-based planning
[12:21] Getting paid through investment management
[15:28] Do I have to pay for trading?
[16:47] Acting as a fiduciary
[17:15] Are we compensated by some other party? No.
[19:56] Assets are custodianed through LPL Financial

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Thanks for listening!

If you want to be notified when the next episode will be released, you can:

• Subscribe to the Show

For more insights on everyday financial planning questions,  go to www.haasfinancialgroup.com

Contact Us:
Email us at [email protected]

Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.

Most people that want to transfer the risk of long-term care, were people who experienced needing to care for their own aging parents. They don’t want to become a burden on their kids. For everyone else that hasn’t experienced the need for care, we hope this podcast helps sets the stage for what long-term care is, how we plan for it, and what your options are.

[2:13] Recognizing the things that could get in the way of a successful retirement
[3:15] What is long-term care?
[5:36] Does Medicare or traditional health insurance cover long-term care?
[7:50] How do we help people decide if long-term care is appropriate?
[8:42] Long-Term Care insurance
[11:11] Hybrid insurance policies
[13:21] If not insurance, then what?
[16:07] What about Medicaid?
[18:58] Consolidating insurance policies
[19:46] Ideas for funding insurance policies

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Thanks for listening!

If you want to be notified when the next episode will be released, you can:

• Subscribe to the Show

For more insights on everyday financial planning questions,  go to www.haasfinancialgroup.com

Contact Us:
Email us at [email protected]

Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.

If you're wondering if you're on track with your retirement goals, or if you can retire when you want to, or you have enough saved - then this episode is for you! Retirement is a big decision.  Listen to Ben and Adam talk about achieving confidence in your decision by going through our retirement planning process together.

[1:17] Common retirement questions
[3:08] Retirement variables
[4:10] Figuring out together if retirement is possible
[6:28] Our approach to making retirement assumptions
[10:21] Looking at variables that we can control
[11:16] Using projections to generate conversations
[13:14] What retirement variables are the biggest concerns for clients?
[16:10] Why the planning conversations are important to the decision process

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Thanks for listening!

If you want to be notified when the next episode will be released, you can:

• Subscribe to the Show

For more insights on everyday financial planning questions,  go to www.haasfinancialgroup.com

Contact Us:
Email us at [email protected]

Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.