Make It Last with Victor Medina - Legal & Financial Retirement Planning

This week we discuss Victor’s trip to Colonial Williamsburg and whether it’s a good trip to take with kids. Also, tips and tricks for selecting a great advisor, whether it’s for legal or financial matters.

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and elder law attorney and Certified Financial Planner™. Through his law firm and independent registered investment advisory company, Victor provides 360º Wealth Protection Strategies for individuals in or nearing retirement.

For more information, visit Medina Law Group or Private Client Capital Group.

As summer approaches, we discuss travel tips for folks in retirement. Also, I cover living wills and advanced directives. We talk about what documents are important and why, and how to make sure that you don’t have a problem with making health care decisions in the future.

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and elder law attorney and Certified Financial Planner™. Through his law firm and independent registered investment advisory company, Victor provides 360º Wealth Protection Strategies for individuals in or nearing retirement.

For more information, visit Medina Law Group or Private Client Capital Group.

Click below to read the full transcript…

Burt:  Welcome to “Make it Last,” helping you keep your legal ducks in a row and your nest egg secure. With your host Victor Medina, an estate planning and elder law attorney and certified financial planner.

Victor J. Medina:  Everybody, welcome to Make it Last. It’s Victor Medina. I am your host. This is the show that helps you keep your legal ducks in a row and your financial nest egg secure. I have to admit something, which is I am not live in studio today. I am on a little vacation with my family.

If you’ve gotten up early to listen to the show, well, thank you for doing that. I’m probably up early because we’re out on vacation, too.

I’ve pre‑recorded this ahead of time. It’s still going to be a great show. Stay tuned to this. I’m actually going to offer you a few travel tips that I’ve come across specifically around the area of your estate planning and retirement planning. I want to make sure everyone is on track with that because it’s affecting my life.

We’re going to talk today also about a really important estate planning document or set of documents which has to do with your living will and your instruction directive, because it turns out that most people here that they should have one. They just don’t know what a good one is, and so this will help illuminate that.

First, I want to tell you about the trip that my family are going to be taking. It’s first family trip that we’ll have in almost a year. It seems like there’s so much going on this days between the kids’ activities, they’ve got sports their involved in, and school. It just gets harder and harder to find the time away.

My wife was at a silent auction for one of the kid’s schools and bid on the right to go get a few nights in Colonial Williamsburg. That’s where will be while you listen to this show. We’re going to be in Colonial Williamsburg, will be visiting the Historic Triangle of James Town, York Town and Williamsburg.

The family and I will be out there learning how to make butter, the old‑fashioned way, and make paper out of pulp. It’s going to be fantastic. It’s going to be a great trip. Great trip. I don’t even mind that as this is airing live, I’m probably exhausted because my wife wants us to get up at four o clock in the morning, so that we can avoid the traffic around Washington DC.

I have agreed to do it. I don’t mind that I’m late. I’m sure that the coffee will help me get over that. If we could just figure how they made the coffee in the 1700s. Anyway, that’s where we’re going to be.

I was thinking about traveling, and sought of the things that come up with are people around their finances and retirement and estate planning and what good tips would be, for them when they traveled because I was trying to figure out for myself.

Back in the day when you took a trip, I don’t know if people remember that. First of all, you used to have the atlas.

As summer approaches, we discuss travel tips for folks in retirement. Also, I cover living wills and advanced directives. We talk about what documents are important and why, and how to make sure that you don’t have a problem with making health care decisions in the future.

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and elder law attorney and Certified Financial Planner™. Through his law firm and independent registered investment advisory company, Victor provides 360º Wealth Protection Strategies for individuals in or nearing retirement.

For more information, visit Medina Law Group or Private Client Capital Group.

On June 9th, the new Department of Labor “fiduciary rule” went into effect. Who does it cover? Can you be comfortable that you’re getting the best advice now? What are the warning signs you should look for?

Listen in this week for a full show on what the new DOL fiduciary rule means for your and your retirement assets.

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and elder law attorney and Certified Financial Planner™. Victor provides 360º Wealth Protection Strategies for individuals in or nearing retirement.

For more information, visit Medina Law Group or Private Client Capital Group.

Click below to read the full transcript…

Announcer:  Welcome to “Make It Last” helping you keep your legal ducks in a row and your nest egg secure. With your host, Victor Medina, an estate planning and elder law attorney and certified financial planner.

Victor J. Medina:  Everybody, welcome back to Make It Last. It is Saturday morning. If you are listening live, I’ve got my cup of coffee and I hope you have your coffee. I don’t know what to tell you. I am excited for this show. Lots of great stuff going on.

Now, if you’re just tuning into us, it is Make It Last. We help keep your legal ducks in a row and your financial nest egg secure.

I want to take some time this morning to acknowledge some great stuff that’s happening in my personal life. I had my oldest son graduate from seventh grade, did really well.

I had my middle son make his premier soccer team and he’s moving on in that. He’s doing well, also doing well in fourth grade in the STEM program. My four year old seems to like try to take over the world because he’s 14 and he’s the last kid, so he’s got to make his voice be heard.

Anyway, lots of great stuff. Lots of great stuff, including I celebrated a birthday. I had the most unexpected happy birthday present that I could ever wish for. My mom who happens to live in New York City, and when she’s there at that home, she enters the lotto where they give away tickets to see the show “Hamilton.”

They do that. The first two rows, they give them away for 10 bucks. It’s incredible. She wins the lotto. She calls me and she says, “I know that Lucas, your middle son, he’s…” She doesn’t say your middle son. She said Lucas, but you don’t know who Lucas is, so I’m telling you, my middle son, Lucas.

Anyway, [laughs] she calls and says, “I know Lucas loves Hamilton. He’s the biggest fan. I won these lotto tickets. Do you think he wants to go see the show?” I said, “Of course, he wants to go see the show. [laughs] I’ll pick him up from school, I’ll drive up, you can take him to the show, I’ll have a drink, I’ll read my iPad, and I’ll take him home when it’s done.”

As we’re driving up, my mom calls us and says, “Are you on your way?” I said, “Yeah, I’m on my way.” She said, “I want Lucas to see the show. I would actually really prefer if he sees the show with you, because I know that you are the number two Hamilton fan in our family.”

I got a chance to go see that show with my son. We got to enjoy it. Let me tell you, it is a fantastic show. It is everything that people tell you that it is. You have got to watch the PBS documentary, see more about it, or clips online. It was fantastic, a once‑in‑a‑lifetime opportunity.

I’m so grateful to have that, so a big public thanks to my mom, who’s probably listening to this show, for being so generous. My mom and dad were giving up their chance to see the show so that we could see it. It was great.

On June 9th, the new Department of Labor “fiduciary rule” went into effect. Who does it cover? Can you be comfortable that you’re getting the best advice now? What are the warning signs you should look for?

Listen in this week for a full show on what the new DOL fiduciary rule means for your and your retirement assets.

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and elder law attorney and Certified Financial Planner™. Victor provides 360º Wealth Protection Strategies for individuals in or nearing retirement.

For more information, visit Medina Law Group or Private Client Capital Group.

Coming up this week on Make It Last…Interview with Thomas Merrick, a Swiss-based investment advisor. Should you consider diversifying your investments with an international portfolio?

Learn more this week on Make It Last with Victor Medina.

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and elder law attorney and Certified Financial Planner™. Victor provides 360º Wealth Protection Strategies for individuals in or nearing retirement.

For more information, visit Medina Law Group or Private Client Capital Group.

Click below to read the full transcript…

Announcer:  Welcome to “Make It Last,” helping you keep your legal ducks in a row and your nest eggs secure with your host, Victor Medina, an estate planning and elder law attorney, and certified financial planner.

Victor J. Medina:  Everybody, it’s Victor Medina. Welcome back to Make It Last. This is the show that helps you keep your legal ducks in a row and your financial nest eggs secure. I’m happy to be welcoming you back on the show where we’re going to talk about two major subjects.

Today, we’re going to talk about how to invest your money in a way that protects the principal. A lot of people want to make sure that they don’t lose money. We’ll talk about seven different kinds of investments that can do that.

A little bit later, we’re going to welcome a special guest to the show. That guest is going to talk about investing in international markets. That’s been a friend of mine and somebody who is an investment advisor. I will ask him to be a part of the show.

Before we get started, I want to thank everybody for listening and for the tremendous feedback that we get. If you are interested in hearing a specific topic on the show, why don’t you go ahead and send us an email.

You can send that email to feedback@makeitlastradio or you can drop a comment on a post at makeitlastradio.com. That will help send that information to us. We can put together a show that covers the subject that you want to cover.

In the meantime, if you like the show, what we ask you to do is go ahead to navigate over to iTunes. At iTunes, you’ll be able to leave a review. If you leave a positive review, it would be great. A five‑star review would be fantastic.

The reason why we’re asking you to do this is that one of the ways that Apple ranks the different podcasts that are out there and shows is to go out and look at the reviews on there, and then promote them to other people. It’d be great if you did that for us. We would appreciate the nice review.

In addition, you can share the link for the show with your friends. Not only will they be able to listen to every show delivered to their email inbox, but they’ll also be able to go back to prior shows where we cover different topics like dealing with annuities, and retirement income, and elder law planning, and legal stuff like that.

That’s a great way to get caught back. In fact, if you’re listening and this is your first time on the show, you could go back and listen to other shows and see what you like there.

I want to get right into the topic for today. We’re going to cover the seven investments that will help you protect your principal, principal basically meaning that the asset value doesn’t go down.

These are my opinions on it. We’re not talking about guarantees here unless we’re talking about Federal Bank guarantees, but these tend to be fairly low‑risk investments.

Clearly if you’re thinking about this, you should discuss these matters with a qualified financial investment advisor,

Coming up this week on Make It Last…Interview with Thomas Merrick, a Swiss-based investment advisor. Should you consider diversifying your investments with an international portfolio?

Learn more this week on Make It Last with Victor Medina.

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and elder law attorney and Certified Financial Planner™. Victor provides 360º Wealth Protection Strategies for individuals in or nearing retirement.

For more information, visit Medina Law Group or Private Client Capital Group.

Losing a spouse is a traumatic event. No matter how it happens, you’re never really prepared for what happens afterwards. This week you’ll be introduced to an author and estate planning attorney who has written the guide for navigatingnthe next steps you have to take after losing your spouse.

Anna Byrne is an estate planning attorney and investment advisor. She is also a widow herself and shares her personal story about the loss of her spouse and the advice she has for taking the next step forward.

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and elder law attorney and Certified Financial Planner™. Victor provides 360º Wealth Protection Strategies for individuals in or nearing retirement.

For more information, visit Medina Law Group or Private Client Capital Group.

Click below to read the full transcript…

Bert:  Welcome to “Make It Last,” helping you keep you legal ducks in a row and your nest eggs secure with your host, Victor Medina, an estate planning and elder law attorney, and certified financial planner.

Victor J. Medina:  Everybody, welcome back to Make It Last. It is Saturday morning, June 3rd. I’m going to be talking to you today about some mistakes that people make in retirement. I’ve got a special guest today. Her name is Anna Byrne. She has written a fantastic book called “A Widow’s Guide ‑‑ Your Legal and Financial Guide to Surviving the First Year.”

She is a friend of mine, as well as a very just accomplished estate planning attorney and investment advisor. She’s written a fantastic book. I can’t wait to get to that interview.

In the meantime, I wanted to say thank you to everybody that has been listening to the show and sharing all of their kind comments about how well it’s going. We think it’s been going great as well.

I’ll tell you something. If this is something that you like, I would appreciate it if you share it with your friends. This show is about helping you keep your legal ducks in a row and your financial nest eggs secure.

If you know somebody who could benefit from doing that, I think you ought to send them the link to the show and tell them to tune in, or what you could do is even give them the link to the iTunes podcast. We’re on all of the podcast catchers that are out there, on iTunes, or you can get it on Android, you can get it on Stitcher.

If you share that link or if you make search for Make It Last, you can subscribe, and not only listen to this show but listen to all the prior shows as well. If you have any ideas for any shows that you want to hear more about, I’d ask you to go ahead and send it to [email protected].

If you do that, you’ll suggest them show topics for us and we’ll bring them in to what we have to talk about. Thanks so much for all of that.

I don’t want to waste any more time. I want to go right into the topics because we have lots to cover today. The topic that I wanted to cover first in the first segment before we get to our special guest is, I read this fantastic article about mental mistakes that people are making with their retirement spending.

It struck me as being very, very accurate because when we come in and meet with retirees…My job, what I do with clients is try to help them preserve their wealth. We might think of ourselves as wealth preservation or wealth protection strategist.

What we’re trying to do is make sure that whatever they have accumulated during their lifetime, they don’t lose and that they pass it on as effectively and efficiently as possible, as protected as possible. That has led to some mistakes that come in thinking about before they get to retirement that carr...

Are you making one of the 8 retirement spending mistakes common to retirees?

Also, join us for a conversation with author Anna Byrne. Her new book, “A Widow’s Guide” is a helpful tool for women who have lost their spouse and are looking for ways to take the next step forward.

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and elder law attorney and Certified Financial Planner™. Victor provides 360º Wealth Protection Strategies for individuals in or nearing retirement.

For more information, visit Medina Law Group or Private Client Capital Group.

IRAs make up the largest percentage of retirement assets for baby boomers and beyond. When’s the right time to take money out? What are the rules and penalties if you get it wrong?

Tune in this week to Make It Last to learn the ins and outs of IRAs.

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and elder law attorney and Certified Financial Planner™. For more information, visit Medina Law Group or Private Client Capital Group.

Click below to read the full transcript…

Announcer:  Welcome to “Make It Last,” helping you keep your legal ducks in a row and your nest egg secure, with your host, Victor Medina, an estate planning and elder law attorney and certified financial planner.

Victor Medina:  Hey, everybody. Welcome back to Make It Last. I’m your host, Victor Medina. I am an elder law attorney and certified financial planner.

Welcome back to a very exciting show. Today, we’re going to be talking all about IRAs. I’m going to touch upon something that I spoke on a couple episodes ago about assisted living and different kinds of long‑term care. It turns out that we had a reader feedback that wanted me to talk a little bit more about one kind of care, which we’ll get to very shortly.

I want to thank everybody for the outpouring of love that has come out since we’ve launched the show. A lot of people with some great feedback, telling us how well we’re doing and sharing the message, because the viewership or listenership of this is getting wider and wider and wider, and we just quickly wanted to say thank you to everybody for spreading the word.

If this is your first time joining us or if you like the show, realize that you can also go back and listen to prior shows by going to Make It Last Radio or looking online at iTunes or at Stitcher, and looking for the show, Make It Last.

If you do a search, you’ll be able to subscribe onto your phone, and be able to get all the prior episodes including times where we’ve talked about elder law, and estate planning, and annuities, and all kinds of crazy stuff.

If you like the show, not only go back and listen to some prior shows, but share it with your friend. In fact, if you get the opportunity to go to iTunes and leave a positive review, it’s one of the ways that Apple starts to recommend other shows to other people.

We think this is a great retirement‑planning show. If you think the same way too, go ahead and leave that five‑star review, and then other people will learn about it, and we will certainly appreciate it.

Now listen, a couple of shows ago, we talked about different kinds of care as you get older. One of the types of care that we talked about was care in your home.

We covered assisted living facility care. That’s what happens when you move into an assisted living facility or skilled nursing facility, but we also talk about care in your home.

A reader or a listener came back and said, “What about moving in, in like an in‑law suite together with your child?” I said, “That’s a really good question. Why don’t we handle that on the show?”

Here we are. We’re going to talk about that because it’s true. As you age, your ability to support and maintain your home can get more and more difficult.

Even staying within your home with care brought in could be too much if it turns out that you’ve got a big lawn to mow, or something else. Maintaining that home is difficult, so people think about moving in with their kid.

They’ll either build onto the existing home an in‑law suite, or maybe they will pool together some money, and then they’ll go buy a bigger home where they can all live.