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

This week on Make It Last, Victor & Mark will talk to you about the client experience at Medina Law Group and Palante Wealth Advisors.

They’ll also be talking about how the four pillars of retirement will lead you to success. Specifically, how income planning works and why it’s so important for your retirement plan.

Finally, they’ll wrap things up by explaining why it’s crucial to have really great estate planning. The value of holistic estate planning, and how proper documents can help you get your ducks in a row.

Download your FREE Checklist Challenge

Are You Paying Too Much In Taxes In Retirement? Click here to find out.

We help you take control of your financial future, visit www.palantewealth.com to learn more!

Also available on Spotify, Apple Podcasts, & Google Podcasts

Make It Last is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

Full Transcription Below

Mark Elliot:  Welcome to “Make It Last” with Victor Medina of the Medina Law Group and Palante Wealth, I’m Mark Elliot, glad you’re with us today. Here’s the deal, Victor focuses on traditional estate planning, asset protection, retirement distribution, and proactive income tax plannings. He’s been featured on “National Television,” “Wall Street Journal,” the “Huffington Post,” “US News,” and “World Report.”

Today, we’re going to talk about the client experience. What is it like if you’re a client of the Medina Law Group or Palante Wealth? What went into Victor starting his two companies?

How does he see the relationship with the clients of those companies? How does it all come together? Creating the Make It Last plan. What is the Make It Last plan when it comes to retirement?

We’re going to talk about all that today. If you have any questions, do you want to sit down and chat with the team? You certainly can give them a call. There’s no cost. It’s 856‑506‑8300. 856‑506‑8300.

Victor, are you ready to talk about the client experience of Palante Wealth and Medina Law Group?

Victor Medina:  I’m totally ready. It’s like a hot seat show. I’m right there in the middle. I’m going to get peppered with stuff. Feature me. Let’s get going on the client experience working with my companies.

Mark:  It’s really interesting. Let’s first talk about the two companies, Medina Law Group, which you started in 2006. You are a practicing estate planning and certified elder law attorney. You started that company in ’06.

In 2014, you started Palante Wealth, which is about holistic planning for your retirement. You’re a certified financial planner professional and a registered investment advisor. What does all that mean and what went into the two companies?

Victor:  Yeah, it’s interesting because while I started the practice in 2006, I just recognized that in my 20th year of being a practicing attorney. I didn’t appreciate the fact that it had gone back by that quickly.

When I started the law firm, Mark, what ended up happening was I had family members that were dealing with somebody who had died in the family.

This week on Make It Last, Victor and Mark discuss financial literacy and share the top topics people are struggling with so you can understand!

It’s springtime, which means highway construction is on the rise! Just like it’s important that construction workers install guardrails on the highway, how can you install guardrails on your retirement? Victor and Mark will give you all of the answers you need!

Are You Paying Too Much In Taxes In Retirement? Click here to find out.

We help you take control of your financial future, visit www.palantewealth.com to learn more!

Also available on Spotify, Apple Podcasts, & Google Podcasts

Make It Last is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

Transcription Below

Mark Elliot:  Welcome to “Make It Last” with Victor Medina. I’m Mark Elliot. Victor of course has two companies, the Medina Law Group and Palante Wealth. Victor focuses on traditional estate planning, asset protection, retirement distribution, proactive income tax planning.

Here’s the deal, it’s about the Make It Last plan. You need an income plan. Your paychecks are going to stop when you get into retirement. Where’s your income coming from? Your investment strategies, super important as well.

Taxes. We know taxes are getting ready to change at least by 2026, if the Biden Administration does nothing, so tax efficient strategies are super important. The estate planning, all of that is a part of the Make It Last plan.

Again, if you want to talk with Victor and the teams, they’re here to help 856‑506‑8300. There’s no cost. There’s no obligation. 856‑506‑8300.

Victor, we’re going to talk financial literacy. I am 62, which means I should be financially literate.

[laughter]

Mark:  The problem is I am not. I think a lot of it is that in high school, it was maybe a general business class. The algebras and calculus and all that kind of stuff, geometry, I wasn’t into that. I was a sports guy, loved to play sports, didn’t really see the point of these two letters equal this letter. I didn’t see the point in that.

The actual stocks and bonds and mutual funds and the insurance world and all those things, I never really was taught that. My dad was a long‑time coach, so I didn’t really get that kind of information. I guess I’m behind the eight ball.

The numbers are out from the American College of Financial Services. 89 percent of female participants flunked a 38‑question quiz.

Victor Medina:  Wow.

Mark:  72 percent of men failed the quiz. I have no doubt I would fail the quiz.

Victor:  [laughs]

Mark:  I have no doubt you would pass the quiz. What’s your thoughts on this?

Victor:  I think I would’ve failed the quiz before I was a financial advisor as well. It should be mandatory in the classrooms, that we should have some form of an education requirement that you have some basic level of financial literacy.

Actually, my oldest…Well, the school where my oldest and my middle go to, but my oldest is a senior now this year, he has a Horizons project.

It’s interesting. At the end of the year, what they try to do is give them some life skills along the way, and say,

This week on Make It Last, Victor and Mark will be taking you back to the past, comparing todays retirement world to the retirement world of the 1960s.

They’ll also be talking about the Gig Economy and the advantages and disadvantages these individuals face. 

Are You Paying Too Much In Taxes In Retirement? Click here to find out.

We help you take control of your financial future, visit www.palantewealth.com to learn more!

Also available on Spotify, Apple Podcasts, & Google Podcasts

Make It Last is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

In this episode, Victor & Mark discuss building the financial house that will get you through retirement and all the materials you need to make sure the Big Bad Wolf doesn’t blow your house down.

How much do you know about taxes? Listen to follow along and test your knowledge with Victor!

To access additional information, please visit: Don’t Let a Health Crisis Threaten Your Retirement

Are You Paying Too Much In Taxes In Retirement? Click here to find out.

Also available on Spotify, Apple Podcasts, & Google Podcasts

Make It Last is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

This week on Make It Last Victor and Mark will be discussing inflationary psychology and how inflation can severely impact your retirement plan.

They’ll also be answering the two biggest questions pre-retirees have- when can I retire, and have I saved enough?

Finally, they’ll wrap things up with a game of Retirement “Yay or Nay?”

Download your FREE Checklist Challenge

Are You Paying Too Much In Taxes In Retirement? Click here to find out.

We help you take control of your financial future, visit www.palantewealth.com to learn more!

Also available on Spotify, Apple Podcasts, & Google Podcasts

Make It Last is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

Full Transcription Below

Mark Elliot:  How about that, a little Prince to kick things off. This time of the year back in 1986, Prince started a two‑week run at number one on the US singles chart with obviously the song “Kiss.” It was also this week in 2016 that Prince died at the age of 57.

I think his estate was worth around 200 million. He did not have a valid will at all in place, which is right in the wheelhouse of the Medina Law Group and Palante Wealth. Welcome to “Make it Last” with Victor Medina. I’m Mark Elliott.

Do you have any questions about where you are on your road to retirement? It’s 856‑506‑8300. No cost, no obligation, no pressure. 856‑506‑8300. We’ll give you that number throughout the program. Prince, he was incredibly talented.

When you think about it, we all have that situation. We’re not guaranteed tomorrow. Prince passed away unexpectedly at the age of 57. There’s a lot of things you need to put in place. The team at Medina Law Group, that’s what they are here for ‑‑ to help you with estate planning.

Victor is a certified elder law attorney, so they can help you in that world of estate planning, wills, trust, all those things you need for your life and for your loved ones, really. Then Palante Wealth is about holistic planning for your retirement. Victor is a certified financial planner professional, a registered investment advisor.

The team at Palante Wealth teams up with the Medina Law Group to create your Make It Last plan and income strategy, investment strategies, tax efficient strategies and, of course, the estate plan.

We’re going to talk a little bit today on the program to start with, anyway, about inflation. Now, Victor, we know that when we go to the gas station, and we fill up our cars, it’s costing…It seemed like 20 to 30 percent more than it used to. I think I filled up my one car that’s got a pretty big gas tank, and I’ve done it usually around 60 bucks.

I went a little trip, 90 bucks it cost me. I’m like, “Holy cow, 60 was a lot. 90 is crazy!” Then you go to the grocery store. Right now, meat prices are up about almost 15 percent from March of 2022 to March of 2021. Breakfast cereal prices, up 9.2 in that same time frame. It doesn’t make sense if inflation is around eight‑and‑a‑half percent. That’s what they’re saying.

High 40‑year‑plus high average of inflation. Why do things go at different levels? Why doesn’t everything go up eight percent?...

This week on Make It Last, Victor and Mark will be discussing the not-so-great forecast for taxes, and how current tax rates might be the lowest we’ll see for the rest of our lives.

They’ll also be talking about an article published by Dr. Ekerdt explaining the differences between having taught the concept of aging and living them… and how wrong he was!

Finally, they’ll wrap things up with a financial literacy quiz! Listen to find out how well Victor scores!

Are You Paying Too Much In Taxes In Retirement? Click here to find out.

Also available on Spotify, Apple Podcasts, & Google Podcasts

Make It Last is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

Full Transcription Below

 Mark Elliot:  Welcome to “Make It Last” with Victor Medina, I’m Mark Elliot. Victor Medina, of course, has two companies, the Medina Law Group and Palante Wealth. Medina Law Group, and Victor is a practicing estate planning and certified elder law attorney.

They’re here to help you come up with those powers of attorney wills trust. What do you need when it comes to that phase of your life? That traditional estate planning type stuff that’s certainly important in your retirement planning and Palante Wealth.

Victor is a certified financial planner, professional registered investment advisor. They’re here to help you come up with a plan and a strategy for retirement. It’s about income, got every income replaced, those paychecks no longer coming in because you’re retired.

Investment, strategies, taxes, the state planning all of that as a part of the Make It Last plan. If you’d like to learn more, you can always give Victor and the team a call. There’s no cost. They’re here to help. They just don’t know if they can until they hear from you. 856‑506‑8300.

We’ll give that number throughout the program. 856‑506‑8300. Victor, welcome. How are you?

Victor Medina:  I’m doing well, Mark. Thanks so much. It’s good to be back here. Again, I’m excited for today’s show, because I think we’re going to be talking about different tax matters.

I may be the only person that gets really excited to talk about taxes. It’s like, you’re going to the dentist, and you’re like, “Yes, let’s go. Let’s going to have a cleaning.” Let’s talk about the IRS. Let’s talk about taxes. I get really excited about it.

Mark:  I’m glad you’re excited because the forecast for taxes or maybe not great. The federal income tax rates right now might be the lowest we will ever see for the rest of our lives. Remember, the 2017 tax cuts and Jobs Act went into play January one of 2018, it ends December 31 of 2025.

We get to 2026, it’s all reverting back to the 17 rates and brackets, so brackets will be squeezed. We’ve even heard that maybe by 2030, the lowest tax bracket, which I think now is at 12 percent, or tax rate is 12 percent, or even talked about 30 percent might be the lowest by 2030. There’s a lot of moving parts here.

Now, Victor, the Wall Street Journal editorial board had a swift reaction to President Biden’s proposed budget which he unveiled not too long ago, and they wrote this, “This comes from the Wall Street Journal editorial...

This week on Make It Last, Victor and Mark will be discussing women in retirement- the challenges they may face, and why it’s important that they plan ahead.

Victor is offering his book: Empowering Women in Retirement for FREE to any woman (Sorry men) Just call us at (856) 506-8300 and tell us you want it! You can check out the book & its description here: https://amzn.to/2UQ6ffM

Want to know more about your Retirement Outlook for 2022? Call (800) 803-5723 and give the code 429124 to reserve your spot for one of our TWO upcoming seminars!

April 19 @ 6PM OR April 21 @ 12PM. Both seminars will be held at Harvest Seasonal Grill & Wine Bar in Newtown, PA!

Are You Paying Too Much In Taxes In Retirement? Click here to find out.

Also available on Spotify, Apple Podcasts, & Google Podcasts

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and Certified Elder Law Attorney (CELA) and Certified Financial Planner professional (CFP). 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 Palante Wealth Advisors.

You already have the foundation, but what’s a house without walls and a roof? Victor gives you all the materials you need to make sure the Big Bad Wolf doesn’t blow your house down.

Why are bags of potato chips half-empty these days? Inflation might be behind it. Victor gives tips on how to battle inflation and make your money last as long as you need it to.

Finally, the show wraps up with a game of ‘Would You Rather?”

Are You Paying Too Much In Taxes In Retirement? Click here to find out.

Also available on Spotify, Apple Podcasts, & Google Podcasts

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and Certified Elder Law Attorney (CELA) and Certified Financial Planner professional (CFP). 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 Palante Wealth Advisors.

Full Transcript Below

Mark Elliot:  Welcome to “Make It Last” with Victor Medina. I’m Mark Elliott. Now, Victor has two companies ‑‑ the Medina Law Group and Palante Wealth. Medina Law Group started back in 2006. You can find out more on the website, medinalawgroup.com.

Palante Wealth came from the clients of Medina Law Group going, “How come you can’t help us with all of our retirement stuff?” The hints Palante Wealth came to be in 2014. Palantewealth.com. P‑A‑L‑A‑N‑T‑E, palantewealth.com.

Victor also is the author of three books on retirement planning under his acclaimed Make It Last series. He’s been featured on national television, the “Wall Street Journal,” “The Huffington Post,” “US News,” and “World Report.”

Look, Victor’s probably going to say some things today that you’re like, “Wow, I didn’t know that. I’d like to learn more.” Or, “Wait, I don’t have a retirement plan. I don’t know how to build my financial house. What do I do? How do I come up with some help in this area?”

It’s easy. You just call the team. 856‑506‑8300. There’s no cost, there’s no obligation, there’s no pressure, there’s no judgement. 856‑506‑8300.

Glad you’re with us today. Victor, there’s a lot of moving parts when it comes to retirement, and I think most of us think about our investments. That’s our retirement world. One of the things that I think is a cool analogy is to compare our retirement planning with building our home.

We’re going to build a financial house today on the program and I know you told your kids the story, the fairy tale, The Three Little Pigs and the Big Bad Wolf, right?

Victor Medina:  Yeah, back in the day.

Mark:  I knew it. The wolf would huff and puff and blow every house down except for the last one, which was made of…What was it made of? We had straw.

Victor:  It was brick.

Mark:  It was brick, right?

Victor:  We had straw. What else did we have? We had sticks, and then we had the brick.

Mark:  And we had brick. Exactly. The brick house, the wolf couldn’t blow it down, because it was strong. That’s what we’re talking about today. How do you build a financial house to get you to, and even more importantly, through retirement?

Let’s get into this, Victor.

The show starts with a little, “Get To Know Victor,” segment. Find out how he is connected to the hit trilogy: Pitch Perfect.

Then, Victor and Mark will be discussing the Tour de France! How the Marginal Gains Theory helped France win, and if you can use the same theory to plan a successful retirement.

Finally, the show wraps up with a little segment called Man (or Woman ) on the Street! Victor answers questions directly from people on the street.

CLAIM YOUR FREE COPY of any book in the Make It Last Series by calling (856) 506-8300.

Are You Paying Too Much In Taxes In Retirement? Click here!

Also available on Spotify, Apple Podcasts, & Google Podcasts

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and Certified Elder Law Attorney (CELA) and Certified Financial Planner professional (CFP). Through his law firm and independent registered investment advisory company, Victor provides 360º Wealth Protection Strategies for individuals in or nearing retirement.

Full Transcription Below

Mark Elliot:  Maybe you’ve heard Victor’s radio show before. You’ve heard him, have you seen it? Yeah, Victor, you’re probably on billboards all over the New Jersey and Pennsylvania areas. Just New York City, you’re there, Times Square.

Victor Medina:  Yeah, right. I think today’s billboards are probably YouTube channel. I think that’s the only thing that anyone’s staring at these days. I don’t know anyone’s looking at billboards any longer.

Mark:  Now, I will say those people might have seen you as the local director of the a cappella group.

Victor:  Oh, my goodness. You didn’t warn me that you’re going to embarrass me this way off of it. Yeah, one of the things that I do for fun is I’m the musical director of a local a cappella group, which is great because I’ll tell you, what we do for that for fun is every Wednesday we start singing at 07:30 at somebody’s house in the area.

Everyone’s from General Mercer County, New Jersey area. We meet at somebody’s house at 07:30. We sing from 07:30 to 10:00. Then we drink wine and eat cheese until we get kicked out of that person’s house from 10 o’clock on.

It’s really a cover for being able to hang out with some great people and I just have the privilege of leading talented musicians. Lot of fun.

Mark:  I will tell you that one of my favorite movies of all time and there’s like three of them, “Pitch Perfect.” Anna Kendrick. That’s what you do, isn’t it?

Victor:  …the musical director that was on this. A guy named Dick Sheeran, who actually went to my college at Towson University in New England Conservatory of Music and somebody that I knew personally. He’s somebody that sent arrangements to my a cappella group called Jersey Transit.

We have the cool connection that that music made it to Hollywood movie level. They had TV shows, called “The Sing off,” kind of cool to watch something that I went to college with, turn that into something that’s almost mainstream accepted.

Mark:  Absolutely. That’s cool. That’s what we’re going to talk about. We’re going to get to know Victor a little bit because it’s important that we do a radio show, we’re talking about retirement. We’re talking about some of the challenges, some of the “what if’s.” What if this happens? What if that happens? How are we going to handle it?

Most Americans are getting a failing grade in financial literacy especially revolving around retirement. Victor and Mark share the top topics people are struggling with so you can understand!

Then, Baby Boomers are often the talk of this show. But what about Generation X? Being the next generation in line for retirement, what should they be doing to prepare?

Finally, the show wraps up with a little segment called Man (or Woman 😉 ) on the Street! Victor answers questions directly from people on the street.

Are You Paying Too Much In Taxes In Retirement? Click here 

Make It Last with Victor Medina is hosted by Victor J. Medina, an estate planning and Certified Elder Law Attorney (CELA) and Certified Financial Planner professional (CFP). 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 Palante Wealth Advisors.

Full Transcription Below

 Mark Elliot:  Welcome to “Make It Last,” with Victor Medina, Medina Law Group and Palante Wealth. I’m Mark Elliot.

Victor and his teams focus on traditional estate planning, asset protection, retirement distribution, proactive income tax planning. He’s been featured on national television, “The Wall Street Journal,” “The Huffington Post,” “U.S. News & World Report.”

Here’s the deal, if you have any question about anything that we talk about today on the program, you’d like to learn more about it, “Wow. I didn’t know that. I would like to learn more.” You can always call the team 856‑506‑8300.

You’re kind of in that timeline of 5 to 10 years out from retirement, and you’re like, “Boy, there’s a lot of moving parts here. I don’t know what my income plan is. Where’s my income coming from. What about my investment strategy? Should I be tweaking that a little bit?

“What about taxes, Taxes go up. What should I be doing? How do I plan for that? What about estate planning? How do I put all this together?” That’s what Victor’s teams are here to help you with 856‑506‑8300.

Today, we’re going to talk a little bit out of the gate about financial literacy. It’s not a surprising thing to me, Victor. Now, you said your parents were teachers. Correct?

Victor Medina:  Correct.

Mark:  Any of them teach math? Either one of them?

Victor:  Neither of them.

Mark:  My dad was a math teacher, and I don’t really like math. My mom was an English teacher, and I did spend one year teaching seventh and eighth grade English. Then, my elective that I taught was a history class, like Zachary Taylor was so short, he had to be helped on his horse.

William Taft was the first president with electricity, and I believe the bathtub in the White House. I think he even threw out the first pitch in a major league game. It was a fun‑filled show, or fun‑filled class, if you will.

I’m not surprised that most Americans get a failing grade when it comes to retirement literacy, and this is according to the American College of Financial Services. They did a test ‑‑ it was a 38 question quiz. 89 percent of female participants flunked, 72 percent of men failed the quiz.

I think the challenges in school, and I had a business math class or something, I had general math class or whatever. I wasn’t the calculus person so I didn’t go into the deep, deep math classes. To me, Victor, the things that you talk about on the show about the importance of…

You’re a math‑based company, not an emotion‑based company, but you do realize we all have emotions.