Formerly the UW Tax-Sheltered Annuity (TSA) 403(b) Program, the UW 403(b) Supplemental Retirement Program (SRP) has recently undergone a name change along with several other changes. With more than 24,000 faculty and staff, UW-Madison is easily one of the largest employers in Dane County – the largest non-government employer in Dane County is UW Health with 9,938 employers, according to In Business Magazine's September issue – so these changes stand to impact plenty of people.

Clint and Mitch sit down to discuss the changes known so far, what impact they could have on UW System employees, and action steps that might be on the horizon. They set the stage by covering the basics of 403(b) plans, another way for employees to save for their retirement by investing a piece of their compensation. Are you employed outside of the UW System but have a 403(b) plan? This episode provides some helpful insight into the plans and how they function. 

Are you a UW System employee with questions? Feel free to send us a message ([email protected]) or give us a call (608)234-4127. 

Even while watching golf, it's difficult for Nate's mind to not drift toward how the sport might have parallels with investing and financial planning. So it should come as no surprise that after watching this past weekend's 2021 BMW Championship, which saw Patrick Cantlay edge Bryson DeChambeau in a six-hole playoff, Nate had styles of investing on his mind, connected to the opposing styles of Cantlay and DeChambeau. Nate is joined in the booth by Keith Poniewaz – another golf fanatic and member of Walkner Condon's team of U.S. expat financial advisors – to break down the match, and, more importantly, discuss why taking a piece from each style is important as an investor. 

It seems like it'd be an obvious answer to the main question posed by the title of this podcast. But the truth is, we hear a number of different reasons when it comes to prospective clients describing why they're seeking out a financial advisor. For some, it's simply because a family member has one, and so it feels like the right path to follow. Some turn to an advisor after a large life event. And there are others who simply want the peace of mind of having a guiding hand when it comes to something as important as finances. 

In this episode, Nate, one of the founding partners of Walkner Condon, and Mitch, a Certified Financial Planner, discuss three common overarching reasons for hiring a financial advisor. And while it's never an ideal situation to have to terminate your financial advisor, Nate and Mitch also cover the three thematic red flags that should alert you to a potential need for a new one. 

As we approach August and the start of college, many incoming freshmen are putting a lot of thought into what their major – or majors – might be. Some have known for years what they want their degree to be, while others may take several more years, and several declarations of majors, to settle on the one they feel is right. In this episode of Gimme Some Truth, we revisit a topic that we've covered previously on the podcast to view it from a different angle, the perspective of a parent with college-aged children. Walkner Condon's Jonathon Jordan, who graduated from James Madison University with a degree in biotechnology, compares his own experience with how he's experienced the big degree decision from a different vantage point. 

Clint teams up with Walkner Condon's Chartered Financial Analyst®, Syl Michelin, and Stan Farmer – a financial advisor for U.S. expats – to discuss the second quarter and look ahead to Q3 of 2021. In another good quarter that has seen the S&P hover around all-time highs, things started rather uneventfully but then changed in June, as the tech sector got its groove back. The trio takes a trip down memory lane, framing the current tech atmosphere in terms of the late 90s and early 2000s, including a comparison between the Bulletin Board System of internet yesteryear and the new age, the Wall Street Bets subreddit. They also pose and explore the perplexing question related to the valuation spread in the S&P 500 and finish by revealing their favorite trend to watch – meme stocks or cryptocurrency?  

This week's guest on Gimme Some Truth is Erik Skjervem, who works in sales for MacDonald & Owen Lumber Company, a national lumber company with locations in Wisconsin, Kentucky, and Pennsylvania. With the price of lumber soaring to hard-to-fathom heights over the last several months, many of us have heard accounts of how that skyrocketing price of lumber has impacted people building new homes or remodeling their current homes. Though the price of lumber has cooled off slightly over recent weeks, Erik provides some context, numbers, and stories from inside the industry. In a brief aside, he also tells us about the annual Lumber Convention, which is, to Nate's surprise, more than just a collection of people that look like Paul Bunyan.

Anyone buying or selling a house in Madison – and likely even those who aren't – knows that the residential real estate market has been hot. But are we in the midst of a Madison housing bubble or is this trend here to stay? Nate, who has a strong background in real estate, and Mitch welcome Associate Broker Matt Winzenried from Matt Winzenried Real Estate Partners back onto the podcast to discuss the latest in Madison real estate. Together, they examine how things have unfolded over the last year, trends on both the buying and selling sides, and the difficult question of whether or not you should forgo that inspection.  

Tim Sugar, from Fiduciary Partners, joins Clint & Mitch in the booth to discuss corporate trustees. Many people (naturally) designate a family member as a trustee to administer a trust, not knowing that a corporate trustee was an option. Tim explains when it makes sense to entertain hiring a professional for trust administration and some of the pitfalls that can be avoided from doing so.

With a new addition to Walkner Condon's growing team, Nate and Clint provide a special bonus episode of Gimme Some Truth to get to know Polly Price. After spending most of her career in fundraising and development roles with non-profits, including an internship with Chicago's Field Museum – hence the cover art for the episode – Polly had a desire to move into the financial planning industry, which helped bring her to Walkner Condon Financial Advisors. She gives insight into her career thus far, pinpoints what she's looking forward to in her new role as Client Services Specialist, and reveals her obsession with DMB (Dave Matthews Band, for those uninitiated). 

Clint and Mitch dig into a host of retirement strategies on the way to explaining and exploring the Mega Backdoor Roth strategy. Together, they define 401(k)s, IRAs, the role of a Roth, and where a backdoor Roth conversion might come in, building up to the Mega Backdoor Roth conversation. It is a strategy that allows high-income earners that can't directly contribute to a Roth IRA to get a sizeable amount of money into their Roth bucket, tax efficiently. But the Mega Backdoor Roth isn't available to everyone; tune in to learn the pieces that need to be in place for the strategy to be a viable option.

For those looking to do some additional reading on retirement and the difference between a 401(k) and an IRA, here's a blog from Mitch on the subject.