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

This week on Make It Last Victor and Mark discuss the current fiscal climate and how headlines can mislead people and cause sensationalism.

Do you need life insurance for your retirement? Most of us think of life insurance as insurance to cover your family in the event something happens to you. However, as your kids get older and need less help, do you still need the policy for when you retire? Listen to find out.

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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.

This week on Make It Last Victor will be discussing what the client experience is like and the role of our Director of Business & Client Strategy.

He’ll also be talking about Social Security and how most Americans don’t understand it.

Victor will also discuss why it’s important to prepare for the worst, and how our clients benefited from a Make It Last Plan during the pandemic.

Are You Paying Too Much In Taxes In Retirement? Click here for your FREE GUIDE

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 Transcription Below

Mark Elliot:  Welcome to “Make It Last” with Victor Medina. I’m Mark Elliott. Victor’s got two companies. We’re going to talk about both of those companies today on the program, Medina Law Group and Palante Wealth.

Victor focuses on traditional estate planning, Medina Law Group. He works with Palante Wealth, asset protection, retirement distribution, proactive income tax planning. Now, Victor has been featured on national television, “The Wall Street Journal,” “The Huffington Post,” “US News,” and “World Report.”

We’re going to go into depth today. What is the client experience like? If you want to have your estate plan? You don’t have an estate, but you feel like your estate needs a plan. Really, it’s not just for the wealthy. We’ll talk about that today as well.

You want to go into sit down with Victor and the team at the Medina Law Group. What’s that like? What’s that experience like? Maybe you want to find out, “Hey, can I retire? Do I have enough? Will my money last? Will my loved ones be OK if something happens to me?”

Maybe that’s a Palante Wealth side the holistic planning for your retirement side. What happens if you go in and sit down with them? What’s it like? What is the experience like? Now, Victor right out of the gate, I’m going to guess this isn’t like going to the dentist and having a root canal.

Victor Medina:  No, not at all.

[laughter]

Victor:  The thing about it is that most people don’t think about contacting their lawyer, contacting their financial advisors side of like the thing that they want to do for fun and enjoyment. In understanding that we’re focused on the client experience of shifting that around, thinking about scripting that client experience so that people feel welcomed.

They’re put at ease from the moment they contact us to the moment they walk into the office, the moment that their plan is completed. Then every moment of that is seen their eyes to make sure that they’re feeling comfortable, welcomed, understood, and cared for all along the way.

The biggest source of pride that we get when clients reflect back on what their experience is just how they were treated like family all the way through. They would think, “Hey, this is what I would hope that my child would have done for me if they were an estate planner or a financial advisor for what ...

This week on Make It Last Victor and Mark kick-off the show discussing seniors, retirees, and the challenges they face with inflation.

How can you retire from a non-corporate job without a 401k? Preparing and saving for retirement is a challenge for everyone, but small business owners face some unique challenges… Listen to learn how to make the most out of retiring from your small business!

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

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.

For more information, visit Medina Law Group or Palante Wealth Advisors.

Full Transcript Below

Mark Elliot:  How about that? Welcome to the show. This is “Make It Last” with Victor Medina of Medina Law Group & Palante Wealth. I’m Mark Elliot. Glad you’re with us. Victor, do you realize that was Gloria Gaynor “I Will Survive” in 1980?

This is the first and only best disco recording ever handed out. Gloria Gaynor got it for I Will Survive because then they moved it into different Grammys for the disco world was ending at that point. Do you miss the disco world? Are you OK with that?

Victor Medina:  I did. First of all, I thought that we had gotten preempted there for a second for just the DJ coming into a play, but no, I had no idea that that was the only disco song to win a Grammy. I’m OK with that. I wasn’t a big disco fan. Even though we didn’t grow up during the disco times, I listened to the…

Mark:  Well, it wasn’t necessarily the only disco song to win a Grammy. It was the only one to win Best Disco Recording because it was the only time they gave that award.

Victor:  They probably knew what they were doing. Yeah, I had no idea that was what, 1980, sir?

Mark:  1980.

Victor:  Oh, my goodness. Oh, my goodness. Well, no I had no clue and I was after unfortunately the disco time, born 1975.

Mark:  Well, you missed it. You missed the bell bottoms, the silk shirts, and my eighth grade graduation. I graduated high school in ’77, eighth grade graduation I had the powder blue suit with black. My heels were probably two or three inches tall. Man, you missed all that. It’s coming back. It’s coming back.

Victor:  I’m sure it is. I’m curious whether or not they had any photos of you available or whether or not you spent every last dime o have them destroyed because I’d pay for that. I’d be honest.

Mark:  It was fantastic. My powder blue…what were they called? There was some kind of leisure suit, my powder blue leisure suit with the silk shirt of course, underneath it. No tie, no tie needed at all. That’s not what we’re talking about today, though. Glad you’re with us today for Make it Last with Victor Medina.

If you have any questions about where you are on your road to retirement, you can always call the team, there’s no cost, 856‑506‑8300. Glad you’re with us. We’re going to talk about a lot of things as we always do. We’re going to start though with seniors and retire...

On this episode of Make It Last, Victor & Mark discuss building a financial house and the tools you need that will get you through retirement. This episode will help you make sure your retirement plan can withstand the test of time.

Inflation who? They’ll wrap the show up with a game of “Inflation Trivia!” Listen to see how well Victor scores…

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 Transcription Below

Mark Elliott:  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 you’re going to help us with all of our retirement stuff?” Then hence, 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 & 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?”

Well, 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 judgment. 856‑506‑8300. Glad you’re with us today.

Victor, there’s a lot of moving parts when it comes to retirement. Most of us think about our investments. That’s our retirement world. One of the things 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. I know you told your kids the story, the fairy tale, the three little pigs, and the big bad wolf, right?

Victor Medina:  Yeah. [laughs] They know it.

Mark:  Back in the day, the wolf would huff, puff, and blow every house down except for the last one. It was made of…what was it made of? We had straw.

Victor:  Brick.

Mark:  We had straw. What else we had? We had sticks. Then, we had brick.

Victor:  We had brick.

Mark:  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. It’s an easy way for us to understand what you do. How you help people when it comes to retirement planning? Is it really starts with building that strong, sturdy financial house, doesn’t it?

Victor:  It does. It’s interesting too because those people that know me,

This week on Make It Last Victor & Mark kick off the show by discussing interest rates and market volatility.

A new study published by the Employee Benefit Research Institute found that retirees who felt comfortable have done the same 4 things.

FREE GUIDE: Will Your Money Last as Long as You Do?

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What are they? Listen to learn more!

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:  Welcome to “Make It Last” with Victor Medina. I’m Mark Elliott. Victor has two companies, the Medina Law Group. Estate planning and Certified Elder Law Attorney, Victor is practicing estate planning and Certified Eder Law Attorney.

They can certainly help you. It’s flat fees and it’s really about client care. All those areas wills, trust. Those documents that you might need and most of us do need, certainly the powers of attorney, healthcare, finances, and all that. There’s a lot of moving parts. Medina Law Groups here to help you with that.

Now, Palante Wealth is the other company. This company is about holistic planning for your retirement.

Victor started the Medina Law Group in 2006. Clients are going, “How they can help me with the rest of my retirement stuff.” “Well, I probably can,” so he goes back, gets his education. He’s a Certified Financial Planner, professional registered investment advisor.

The Palante Wealth is all about your holistic planning for retirement. There’s income planning, investment strategies, tax efficient strategies, and then Medina Law Group comes in to close the deal with the estate plan. All those areas are super important. If you’d like to learn more about Victor and the team, you can certainly go to the website medinalawgroup.com. M‑E‑D‑I‑N‑A, medinalawgroup.com.

Palante Wealth is P‑A‑L‑A‑N‑T‑E, palantewealth.com. It might be easier just to call 856‑506‑8300. We’ll give you that number throughout the program. 856‑506‑8300. Hey Victor, how are you?

Victor Medina:  Hey Mark, how are you doing? With all of those email addresses, Web addresses, you’re right, it’s just easier to call. It’s funny sometimes I get confused about how many websites I have out there to talk to people, but it’s [inaudible 1:34] .

Mark:  You have a bunch of other websites as well.

Victor:  You can find me for the Jersey Transit a cappella singing. If you do a little Google search, you can find that as well. Watch out, you’re going to trip over Victor Medina somewhere in your life.

Mark:  Absolutely. That’s a good thing. That is a good thing. We’re going to start talking about some of the headlines going on, which means we’re going to break down the mask, we’re going to break down COVID, we’re going to…No. We don’t do that here. We talk retirement.

We’re going to talk interest rates. We’re going to talk market volatility. You remember, we talked about this last fall where the Fed had said…Jerome Powell the head of the Fed,

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

Potholes in retirement- what are the things you can’t see coming/can’t avoid and how do you plan around them?

Utilizing the right navigation system- how an experienced attorney acts like a personal GPS.

What are some guardrails that you can put on your retirement plan to make sure you feel safe and confident?

Finally, Victor & Mark wrap things up with a game of “Would You Rather?”

To access additional information, please visit: Are You Paying Too Much In Taxes In Retirement?’ Free Guide

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.

This week on Make It Last Victor & Mark discuss inflation and if it is caused by excessive government spending.

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!

It’s one thing to think about retirement for yourself, but what is retirement like when you have spouse that’s retiring at the same time as you? Listen to learn more!

Finally, they’ll wrap things up with a game of “Would You Rather?”

Article by Dr. David Ekerdt: I Spent 44 Years Studying Retirement. Then I Retired.

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:  Welcome to “Make It Last” with Victor Medina. I’m Mark Elliot. Victor, of course, he’s got two companies, the Medina Law Group and Palante Wealth. Medina Law Group started in 2006. Palante Wealth started in 2014.

Both are here to help you with your retirement planning. Certainly, the Medina Law Group can do all of the things you need for estate, and wills, and trust, and all those things that you got to do. Victor is practicing estate planning and Certified Elder Law Attorney.

You can find more about the law firm by going to medinalawgroup.com, M‑E‑D‑I‑N‑A, medinalawgroup.com. Victor, also, is a Certified Financial Planner professional, a registered investment adviser, because the Medina Law Group clients are going, “How come you can’t help me with my retirement planning?” I suppose I could.

He got all the education, and he’s ready to go. Started that company in 2014. That is palantewealth.com, P‑A‑L‑A‑N‑T‑E. It’s truly about having a plan when it comes to your retirement ‑‑ income, investments, taxes, estate. All those types of things that are always moving for us.

We’ve never had to deal with all of this while we were working. It’s really more about our retirement years. We have an income strategy. Certainly, when we’re working or an investment strategy while we’re working. Hoping to grow our money so we can retire someday.

Taxes, we’re always dealing with those. Estates, we certainly can’t wait till we are 80 to have an estate plan. We never know what’s going to happen.

When you get into retirement, it’s important to have all of this done. The teams are here to help. If you have any questions, 856‑506‑8300. No cost and no obligation to chat with Victor and the team. 856‑506‑8300. Victor, welcome. How are things?

Victor Medina:  Things are going well, Mark. Thank you very much. I heard you do the intro, and I looked back at the number of years that I’ve been doing this. It’s a little bit surprising me. I wouldn’t have put the number that high. I guess time flies when you’re having fun.

Mark:  Time does fly. One of the interesting things that we’re dealing with now, and it’s not a great thing obviously, would be inflation. Last year it seems like all we did was talk about taxes. That was the big topic of 2021.

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, they will go on to discuss the insurance world, and how it can benefit retirees.

Finally, they’ll talk about why it’s important to have a financial advisor, even if you have a financially savvy spouse.

Are You Paying Too Much In Taxes In Retirement? Click here to download the free guide

Click here to claim your FREE Elder Law Guide

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:  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, and proactive income tax planning. He’s been featured on national television, “The Wall Street Journal,” “The Huffington Post,” and “US News & World Report.”

Here’s the deal, if you ever have any questions about anything we talk about today on the program, or 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.

Or, if you’re 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 think I don’t know what my income plan is. Where is my income coming from? What about my investment strategies? 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, and 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.

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 major league game.

It was a fun‑filled show or fun‑filled class if you will, but I’m not surprised that most Americans get a failing grade when it comes to retirement literacy.

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. Maybe you should teach a class around the country about this.

Victor:  All right, sounds good. I’ll get right to that when I’m not working with clients.

This week on Make It Last, Victor and Mark discuss why people are retiring early due to the pandemic.

They’ll also be talking about the advantages and disadvantages between personal retirement funds and pension plans.

What are required distributions? What do they mean? Why do we even care about required minimum distributions?

Find out all of this and more on this week’s episode of Make It Last.

Are You Paying Too Much in Taxes in Retirement? Download the FREE Guide

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:  Welcome to “Make It Last” with Victor Medina. I’m Mark Elliot, glad you’re with us today. Victor has two companies, the Medina Law Group and Palante Wealth. Started Medina Law Group back in 2006. Victor is a practicing estate planning and Certified Elder Law Attorney.

The Medina Law Group here to help you come up with all the things you need for estate and legacy planning and all of that. Now, it ties in though, to retirement plan, because Victor would have people come in and go, “Why can’t you help me with all my retirement planning?”

There’s no reason I can’t. So, Victor, being the student that he is, went back to school a little bit and now is a Certified Financial Planner professional, a registered investment advisor, and that is Palante Wealth. They focus on holistic planning for your retirement. That business started in 2014.

They work together, the Medina Law, Palante Wealth, coming up with an income strategy, investment strategies, tax strategies, estate planning. All of the things you need for retirement are in these two companies, and they’re both here to help.

If you have any questions about any of this, when it comes to your retirement, do you understand where your income’s going to come from? Are you investing the right way? What about if taxes go up? How will that affect you? Do you have an estate plan in place?

Because we’re not guaranteed tomorrow, so there’s no point in putting all of this off. You can do a plan right now at 50, for example, and then maybe it’s 70, you change it. That’s certainly the idea behind this is that none of these plans are just written in stone.

They’re always evolving because life happens to us. They’re always being updated all the time. If you’d like to learn more, you can always give the team a call. It’s 856‑506‑8300. There’s no cost. There’s no obligation for this. 856‑506‑8300.

It is 2022, so I thought it’d be fun. We’re going to talk a about some of the things that we should be getting ready to. If 2022 is year you’re retire, what are some of the things you should do? What if it’s 2023? We’re getting closer and closer to that retirement date, and it’s really interesting.

I watched “60 Minutes,” I don’t know week or so ago, and they were talking about the great resignation. There was like, I don’t know, it was over two million people have quit their jobs and they’re not really retiring. They’re just quitting their job and going to sit back and figure ou...

This week on Make It Last Victor gives advice on how to set healthy retirement goals, as well as how to achieve them.

He’ll also give you an inside look on what the new client process is like.

Finally, Mark and Victor wrap up the show with a conversation about health v.s. wealth, as well as the top 3 things people overlook when it comes to healthcare in retirement.

Don’t Let a Health Crisis Threaten Your Retirement: Download the FREE GUIDE

Get Your FREE “Will Your Money Last as Long as You Do?” Guide

Don’t let Retirement Taxes derail your retirement! Download your FREE “Are You Paying Too Much In Taxes In Retirement?” Guide

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:  Welcome to “Make It Last.” I’m Mark Elliot, alongside Victor Medina. Victor, of course, has two companies the Medina Law Group. Victor is a practicing estate planning and certified Elder Law Attorney.

They’re here to help you with your estate planning, your legacy planning, wills, trust, powers of attorney, healthcare, financial, all those kind of moving parts. Great opportunity. We don’t know what tomorrow brings. Don’t put this off and say, “Ah, Victor, I don’t need to do that till I’m in my 80s.” That’s not how we look at it. 856‑506‑8300.

If you’re in that area, you don’t have powers of attorney, or wills, or trusts you don’t even know the difference and what do I need? It’s a great opportunity to find out more from the Medina Law Group. 856‑506‑8300. Now, Victor also has Palante Wealth which is about holistic planning for your retirement.

Victor is a certified financial planner, professional registered investment advisor. In this side they help you with income strategies, investment strategies, tax‑efficient strategies. The two companies work together in creating the Make It Last Plan for you, 856‑506‑8300. If you have any questions, concerns, Victor and the team are here to help.

All right. Resolutions. I don’t know, Victor, if you’re a big resolutions guy. Typically, we know that a ton of people make resolutions every year. Typically by February, if not, by March, those resolutions are done and gone because we make our goals too big or grandiose. We just don’t really stick to it I guess. Are you a resolutions guy? Do you have any resolutions for 2022?

Victor Medina:  Yeah, no, a Happy New Year to you. No, I don’t. I’m not a resolution guy. In fact, I’m quite the opposite. I tend to believe that we don’t rise to the level of our goals, but end up falling to the level of our systems, our habits, the things that we do as our routines. That’s not my phrase by the way. I steal that from James Clear who wrote a great book called, “Atomic Habits.”

It tends to be that in my world both in attorneys that I coach and working with my team over here and even my clients that I work with,