Guarding Your Nest Egg

After a reasonably strong first half of the year on wall street and decent economic data... Does this mean "Bidenomics" is a real thing and working? 

Mike shares his summer ☀️ outlook. And even though each situation is different, you'll hear an idea to consider for your portfolio if you don’t think the market will be up more than 5% between now and next year. 🎬 Plus, what’s old is new again this summer (and in Kristen’s parent's attic) thanks to Barbie and the nostalgia she’s bringing to the box office 🍿. 

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Your workplace retirement plan may look pretty decent right now, and that’s wonderful news! But if you (like Mike) feel the market is likely to not perform as well in the future, listen to find out what options you might possibly have for your 401(k), 403(b), or TSP accounts. This week Mike also shares his opinion of why a recession COULD be helpful for inflation. 

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The American economy has many perplexed. 🤔 

👎 A 3rd bank failed within the last 2 months and consumer confidence is low. 

👍 However, unemployment is low, and the stock market is doing pretty well despite the Fed raising interest rates for the 10th time in a row, and inflation still being a key concern. Plus, Uncle Sam’s spending doesn’t seem to be slowing down! 

Like you, Mike knows these issues need to be addressed in order to ensure a strong and sustainable economy. Since we can’t fix those things personally, he shares why it’s more crucial than ever that you take the time to have a plan created by a fiduciary that includes active management that helps make the most of your retirement accounts in any economy… Along with what fixed rate of return is appropriate in this climate. And no, it’s NOT AN ANNUITY! 

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🌺 Mike’s family vacation reminds him how lucky he is to help encourage retirees to create new lifetime memories while helping them manage their retirement income and spending. After some family stories, he discusses how the economy is slowing as the fed raises rates, and why it feels odd the market isn’t responding. Obviously, he (and everyone) wants the economy and market to do well. He spotlights what the team is watching while actively managing portfolios. And with some economists predicting a recessionary period to hit this quarter or next, we hear from Mike if we’re already in a recession. Plus, he shares a tip to consider if you’re thinking of taking advantage of high-yield savings or money market accounts since interest rates are up.

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☎  A listener left a voicemail asking if gold and silver coins are a good idea to buy during concerning economic times. Mike gives a very direct answer, along with what he believes investors should consider if they do want to include precious metals as part of their portfolio. Then he accidentally shows how much he doesn’t know about football 🏈, but clarifies what he DOES know very well about finance & investing, along with ETFs and mutual funds and which one is most efficient. Then we discuss what one popular financial website says are the biggest purchases you'll likely regret in retirement. Mike’s positive perspective shines a bright light on what retirement should be all about... YOU!

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Unfortunately, corporate layoffs are ramping up beyond the tech sector. Obviously, this impacts the livelihoods of many Americans, but it’s also making investing more difficult to navigate. Mike passes along ideas to consider, especially if your upside isn’t over 4% and your money is at risk (depending on the day & institution). Then… 

Is President Biden to blame for retirement accounts and wall street being down? You might be surprised by Mike’s insight. ⛳️ Plus, we celebrate the Master’s wrapping up by finding out what golf can possibly teach us about investing!

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Mike & Kristen revisit the “be, kind rewind” movie era and the different experiences they had. However, they agree that  📼 + 🍕 always made family time perfect! Then we share two different (yet similar) questions the Talon fiduciaries addressed from listeners in recent days about planning for income in retirement, especially during precarious economic times. At the end of this episode, Mike becomes the most HACKED-OFF he’s been about annuity advertising… At least to date.

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This week Mike shares a question he hasn’t been asked about money since 2008, along with the personal risks and planning investors should consider during this troubling time for the banking sector. We also dive into new data from Fidelity that shows the number of 401(k) millionaires have fallen. Listen to find out how much that group NOW feels they need to retire comfortably, and what Mike believes they should focus on for their portfolio instead.  

And since Mike is a fee-only fiduciary, Kristen asks for his opinion on the various advertisements that claim converting retirement accounts into physical gold & silver is a good idea. 👎 Find out why Mike says it’s not. 

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March has been mind-boggling when it comes to economic updates! 🤯 The sudden failure of Silicon Valley Bank panicked the markets and investors, and Mike “Silver Lining” Lester is here to translate how the banking crisis does and does not impact consumers. 

March is also a very exciting month for NCAA 🏀. But if you’ve listened to previous episodes, you likely know Mike isn’t a huge sports fan. He’s also not a CPA. However, he is a fee-only fiduciary financial advisor that keeps an eye on tax brackets (not basketball brackets) and how planning for inflation AND future taxes in retirement could impact the success of a financial plan. 

Then, based on the volatility of wall street and how things over all just “don’t feel right”... Kristen asks Mike a brave question: Should we consider an Annuity if it pays 5% since that’s currently higher than many money market and savings accounts? 

His answer may surprise you...

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Mike starts this week by sharing how a fish fell out of the sky at his home. 🧐 Oddly, that strange moment matches the tone of our economy during this confusing (and overwhelming for many) financial time. 2023 was off to a good start on wall street, but volatility returned in February, and inflation isn’t coming down despite the rate hikes... And we just witnessed the 2nd largest bank failure in American history! Mike shares his stock market insight so that you have more perspective to draw from concerning your 401(k) and other retirement accounts. We also spotlight the fixation of knowing how your savings measure up to others, and many wanting to accumulate $1 million in their portfolio before they retire. 

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