Financial Choices Matter

There are some people who don’t care at all about leaving a financial legacy, but for those who do, it’s important to eliminate some of the common estate planning mistakes.

0:56 - In The News: How the stock market might react to the result of the upcoming election

5:27 - Avoiding Critical Estate Planning Mistakes

5:43 - Mistake #1: Not Planning Your Expenses In Retirement

7:17 - Mistake #2: Beneficiary Designations

10:01 - Mistake #3: Not Considering The Tax Implications Of Your Estate

13:25 - Mailbag Question from Helen: "Are there really no tax implications to rolling over the 401 (k)?"

Sometimes being a good financial advisor means having uncomfortable conversations. We’ll take a look at how advisors should help clients navigate various tricky situations.

0:48 - Story Time: Tax Planning

3:48 - It's Good To Have Awkward Conversations

4:30 - Conversation #1: Death Of A Spouse

6:11 - Conversation #2: Nursing Home Care

8:50 - Conversation #3: Working Longer Than Expected

12:01 - Conversation #4: Legacy Planning

15:21 - Mailbag Question from Kevin: "My employer plans to stop matching 401k contributions..."

18:02 - Mailbag Question from Annie: "Most of my 401k is invested in company stock..."

While there are some factors that are different for everyone in retirement planning (variables), there are also constants that affect everyone, no matter the specifics of your situation. How do we plan around these constants?

2:13 - Retirement Constants That Affect Everyone

2:34 - Retirement Constant #1: Inflation

4:45 - Retirement Constant #2: Rising Taxes

6:37 - Retirement Constant #3: Market Volatility

9:15 - Retirement Constant #4: Healthcare

11:54 - Mailbag Question from Sally: "Are fees and commissions the same thing?"

13:48 - Mailbag Question from Lucy: "How often should I meet with my advisor?"

15:59 - Getting To Know Charles: What is your favorite movie genre?

There are some important lessons that flying can teach us about retirement planning. So check your luggage, strap into your seat and let's take a trip with Charles.

0:56 - What Flying Teaches Us About Retirement

2:11 - Lesson #1: Flight Plan

4:26 - Lesson #2: Turbulence

7:31 - Lesson #3: Air Traffic Control

11:13 - Mailbag Question from Tom: Term vs. Whole Life Insurance

13:41 - Getting To Know Charles: What job would you be terrible at?

Even for people who have been very responsible with their money over the years, entering retirement can

1:16 - In The News: Wedding Loans

3:53 - Even Responsible Savers Make Mistakes

4:24 - Mistake #1: Don't Get Too Enamored With Cash

5:57 - Mistake #2: Don't Take Too Much Risk

7:27 - Mistake #3: Don't Forget About The Tax Time Bomb

9:09 - Mistake #4: Live A Little

11:06 - Mailbag Question from Raymond: "I haven't paid much into Social Security..."

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.

2:17 Helping clients understand how their financial jigsaw puzzle fits together

Very often, we find that people wil stick with a broker or financial advisor who's doing a less than stellar job, and there's usually a handful of reasons why. Charles will poke some holes in those excuses, and give you a healthier picture of what your financial advisor should be doing for you if he or she is truly a good fit. We'll also take a look at some recent news items related to the student loan debt crisis.

1:45 - In The News: Proposed solutions to student loan debt crisis

5:41 - Why Are You Making Excuses For Sticking With The Wrong Advisor? 

7:42 - Common Excuses: "I get confused when there's a meeting."

11:16 - Mailbag Question from Alex: Should I take risk off the table with my 401(k)?

Some people (in fact, probably most people) find it easy to procrastinate when it comes to financial planning issues. But let’s talk about some scenarios that might cause people to have a bit more sense of urgency.

1:43 - Mailbag Question from Blair: Why am I not in a lower tax bracket in retirement?

5:45 - Sense of Urgency: Scenario 1 - Loss of a job

7:09 - Sense of Urgency: Scenario 2 - Receiving a retirement buyout offer

8:39 - Sense of Urgency: Scenario 3 - Procrastination in planning for retirement

11:20 - Sense of Urgency: Scenario 4 - Death of a spouse

13:07 - Sense of Urgency: Scenario 5 - Market takes a dip

15:07 - Charles makes an important announcement about financial education

17:25 - Getting to know Charles - What area is Charles an expert in outside the financial world?

Your 401k 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 plan).

1:24 - News headline about the SECURE Act

4:33 - Exposing 401(k) weaknesses

7:43 - Charles shares a tip on moving 401(k) plans outside your company

10:36 - Mailbag Question from Angie: Are all long-term care policies this expensive?

Of course, saving money on taxes is important. But when tax advantages are being pitched as the primary benefit of an investment, should we be concerned? Charles will help us tackle the pros and cons on this week's episode. We'll also answer a question from Roberta about investing a large amount of her 401k in company stock.

2:00 - Mailbag question from Roberta: Is it okay to have a majority of my 401k in company stock since I know the company well?

7:14 - Are tax advantages in investments overrated?

13:06 - Getting to know Charles: Did you ever get into any trouble when you were younger?