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

This week on Make It Last Victor & Mark talk about to do with your 401k when you make a job change. Victor breaks down all of the options available to you as you sprint to the end.

They will also dive into what tools you need your retirement tool kit, and all of the reasons why it pays to keep an open mind when doing your legal and financial planning.

Finally, they’ll wrap things up by revealing Victor’s naughty/nice list!

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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, two companies, Medina Law Group, Palante Wealth.

Victor is a practicing estate planning and certified elder law attorney. If you’d like to find out more about Medina Law Group you can certainly go to their website medinalawgroup.com. M‑E‑D‑I‑N‑A, medinalawgroup.com. It’s flat fees. It’s really about client care.

Now the people that were clients, Medina Law Group back in 2006, when Victor started that company said, “Why can’t you help us with all of our retirement planning?” “I don’t know I suppose I could.” Victor goes back to school basically becomes a certified financial planner professional, registered investment advisor.

In 2014, here came Palante Wealth, you can find out more about that company. P‑A‑L‑A‑N‑T‑E, palantewealth.com. That is all about your holistic planning for retirement, your income, your investments, your taxes, and then you tie that in with the estate planning from the Medina Law Group, and you’ve gotten everything you really basically need for retirement.

But you need to have a plan, there’s no question. You do need a plan and that is what the idea behind why we do the show really to try to help you understand a little bit more of some of the challenges about retirement. All right, Victor, I thought this would be a great way to start the show right here.

Victor Medina:  Very pretty, very pretty.

Mark:  In it, you’ve got to appreciate that, but here’s the crazy part of this. Bing Crosby, “White Christmas,” it came out Christmas day 1941, 80 years ago. Then think also what happened December 7th of 1941, Pearl Harbor. Two and a half weeks later, we’ve got White Christmas.

Pretty amazing to think of just the timing of all of that.

Victor:  Yeah, for sure. I never appreciated that. That’s crazy.

Mark:  Yeah. That is amazing. Bing Crosby, what a voice, obviously. Your a cappella group, do you guys sing a little white Christmas in your sets?

Victor:  White Christmas didn’t make it into the set, but we did just do a great little concert in Peddler’s Village over in Pennsylvania. It was the second time we were there. We were there Black Friday to sing and they liked us enough to invite us back and we opened for Santa Claus.

That was really important that we were opening the big man on a Wednesday that we were there singing. That was actually a lot of fun, a lot of fun.

Mark:  Something to keep in mind for the year 2022.

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

Then, Baby Boomers are often the talk of this show. But what should Generation X be doing to prepare for 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.

Click here to watch Victor’s latest appearance on PIX11 News

Sound advice for holiday shoppers worried about shortages and high pricesfeaturing Financial Advisor Victor Medina on NY1 News

Click here to receive 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.

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

Full Transcription Below

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

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

Mark:  What I will say, though, is people might have seen you as the local director of the a capella group.

Victor:  Oh, my goodness.

Mark:  [laughs]

Victor:  You didn’t warn me that you’re going to embarrass me this way off of it.

One of the things that I do for fun is that I’m the musical director of a local a capella group, which is great. What we do for fun is every Wednesday, we start singing at 7:30 at somebody’s house in the area. Everyone’s from general Mercer County, New Jersey area.

We meet at somebody’s house at 7:30. We sing from 7:30 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 have the privilege of leading talented musicians. It’s a lot of fun.

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

Victor:  The interesting thing is that the musical director that was on, this guy’s name’s Deke Sharon, who actually went to my college at Tufts University, New England Conservatory of Music, and somebody that I knew personally.

He’s somebody that sent arrangements to my a capella group called Jersey Transit, which is a cool connection that that music made it to Hollywood movie level. They had TV shows called the “Sing‑Off.” It’s kind of cool to watch somebody that I went to college with turn that into something that’s almost mainstream accepted.

Mark:  Yeah, absolutely. That’s cool.

This week on Make It Last, Mark and Victor will be discussing two crucial pieces of advice you need to know for holiday shopping, as well as the challenges the economy is facing and how they will affect you this holiday season.

They’ll also be discussing the psychology of money, both as a concept and as a book written by Morgan Housel. Victor explains the importance and value of having a financial advisor that will prevent you from making emotional decisions with your money.

Finally, Mark and Victor wrap things up with a little game of Taxes Trivia!

Click here to watch Victor’s latest appearance on PIX11 News

Sound advice for holiday shoppers worried about shortages and high prices featuring Financial Advisor Victor Medina on NY1 News

Click here to receive your Checklist Challenge!

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 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 and it is December. We are talking a little Christmas time. That is, you know what that is Victor, don’t you?

Victor Medina:  I do. It’s enough track. It was sweet. I thought I was going to have to dance to this episode instead of being on the radio. I didn’t know there was going to be a show.

Mark:  The nutcracker. I knew you would know that. You are right on top of that. Hey, we are going to talk retirement on this program today as well. If you have any questions, or concerns, you can always give the team a call. There is no cost, there is no obligation to share with the team, it’s 856‑506‑8300. I know you’ve been on New York television here lately talking about some of the challenges with trying to get stuff for Christmas, all the things with inflation and gas prices and all that. Tell us a little bit about your time on New York television.

Victor:  I actually had two appearances. One was on New York 1, which is a spectrum channel. Then, the other one was on Pix 11, which is the old channel CW, I guess off of it. They had me on talking about the global supply chain, the struggles that are going on there, as well as shopping on Black Friday and Cyber Monday.

What I shared with them, which was interesting for me to find out about and then share advice is how well the general economy’s doing on this front, there’s a lot of concern about the global supply chain. There were some regulatory things that happened to open up and free up the distribution channels.

At the same time, there were also reports from Black Friday that the foot traffic was up over last year, clearly because people could go outside, and the expected overall spending was going to be a 10 percent increase over last year. I think that things are looking up.

This week on Make It Last, Victor breaks down the process he uses with clients to ease their worries about their income in retirement.

Then, he and Mark go on to discuss the insurance world, and how it can benefit retirees.

Finally, they’ll wrap things up with a game of “Inflation Trivia!”

Click here to watch Victor’s latest appearance on NY1 News!

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.

This week on Make It Last Mark and Victor will be talking about what the client experience is like at MLG, and why estate plans aren’t just for the wealthy.

Why you might have less than when you started retirement, and why you should be worried about retiring on a fixed income. How to battle inflation and make your money last as long as you need it to.

Finally, Mark and Victor wrap things up with a Q&A from people in the community!

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 Elliot. Victor’s got two companies, so 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 on with Palante Wealth asset protection, retirement distribution, proactive income tax planning. 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 really have an estate, but you feel like your estate needs a plan and 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 of 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 the Palante Wealth side, the holistic planning for your retirement side. What happens if you go on 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, right?

Victor Medina:  No. No, not at all.

[laughter]

Victor:  The thing about it is, that most people don’t think about contacting their lawyer, contacting their financial advisor’s side of the thing that they want to do for fun and enjoyment.

Understanding that, we really focused in 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 that they walk into the office and the moment that their plan is complete.

Every moment of that, we see it through 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 they’re experience is like is how they were treated like family all the way through.

They would think, “This is what I’d hope my child would have done for me if they were an estate planner or a financial advisor for what they were doing.

This week on Make It Last Victor explains the importance of utilizing your financial advisor (in hand with your Accountant) to proactively do your tax planning.

Let’s get familiar with healthcare. Most people are unfamiliar with the ins and outs of healthcare in retirement. Not to worry! Victor will give you the full breakdown so you can get cozy with your healthcare strategy!

Speaking of strategy, Victor will explain the importance of building a relationship with an investment advisor early in retirement…despite managing your investments on your own. Don’t leave your family hanging!

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

Don’t let Retirement Taxes derail your retirement! Please visit Are You Paying Too Much In Taxes In Retirement? to download 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.” I’m Mark Elliot alongside Victor Medina, the CEO of Medina Law Group and Palante Wealth. Victor focuses on traditional estate planning, asset protection, retirement distribution, proactive income tax planning. Victor has been featured on national television, “The Wall Street Journal,” “The Huffington Post,” “US News & World Report.”

If you have any questions about anything you hear on the show today, just give the team a call. They’re here to help. It’s 856‑506‑8300. No cost, no‑obligation, no pressure, no judgment. Victor’s team is here to help. They just don’t know if they can, until they hear your situation. 856‑506‑8300.

Victor, welcome to the program. Here’s one for you. We’re going to talk about some of the headlines going on, certainly, about cost of living adjustment for Social Security and Medicare premium Part B goes up as well. There’s just a lot of challenges today. How about this little stat for you? 1913. You don’t remember 1913 that clearly, I would guess.

Victor Medina:  No, no. Little foggy.

Mark:  American citizens receive information over the new national income tax for the very first time. That’s when we got national income tax, 1913. A married man living with his wife, who was in receipt of an income of $5,000, pays $10 a year. But if the income was actually $10,000, it is not paid $20 per year. Sorry, you’re paying $60 per year. How about that? They went from 10…

Victor:  Ouch!

Mark:  They double your income, and they went up by six times. [laughs] Sure. Taxes on that. This time of the year when we’re in November and December and the year is wrapping up. Taxes are a big part of how you’re trying to help people.

I’m sure whether it’s required minimum distributions, making sure they sign up for those of you over the age of 72, but also Roth conversions all those kinds of things. A lot of tax things going on right now. Aren’t there?

Recent numbers have come out putting inflation at 5% for September, and there’s a 5.9% increase to Social Security predicted for January 2022. While some are rejoicing, there is definitely a flip side to this news as well. Victor & Mark talk about what’s driving this higher inflation, how it’s related to the increase in Social Security, and how your plans are impacted.

Victor takes his own checklist challenge, and shows you how he prepares to make your perfect Make It Last Plan.

Finally, let’s talk estate planning. What are all of the documents you need in order to have a successful estate plan?

To access additional information, please visit Checklist Challenge to download your FREE Checklist

Don’t let Retirement Taxes derail your retirement! Please visit Are You Paying Too Much In Taxes In Retirement? to download 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 Elliot. Victor, of course, has two companies ‑‑ the Medina Law Group and Palante Wealth.

Victor is a practicing estate planning and certified elder law attorney. If you need estate planning, legacy planning, all that kind of stuff, the Medina Law Group can certainly help you. It’s medinalawgroup.com. To find out more, medinalawgroup.com.

Palante Wealth started because of Medina Law Group. Clients would come in and say, “Can you come help me with the rest of my retirement stuff?” “I don’t know. I guess I could take some classes and I could do that.” That brought about Palante Wealth, which is about holistic planning for your retirement.

Victor is a certified financial planner professional, registered investment advisor that can help you in the insurance world, in the investment world. palantewealth.com to find out more. palantewealth.com.

Here’s the bottom line. If you have questions about traditional estate planning, asset protection, retirement distribution, proactive income tax planning, then certainly give the team a call. They’re here to help.

There’s no cost to chat with the team about any concerns you have. They’re here to help, they just don’t know if they can till they hear your situation. 856‑506‑8300. 856‑506‑8300. We’ll give that number throughout the program.

Victor, welcome. Today we’re going to talk a little bit about some inflation numbers that are out in September. The news is out, Social Security recipients rejoicing around the country.

Victor Medina:  That is interesting news. No one really expected. We had spent so much time, Mark. By the way, hello and thank you for saying hello to me. I should have said hello to you when we got started.

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.

Then, Victor goes on to discuss the challenges behind guiding his clients through their estate planning and the three stages of life -the Go-Go Years, the Slow-Go years, and the No-Go years.

Find out how the Biden Administration’s plans to make tax changes affect the estate planning world, and how it could affect you if you fail to make your own plan.

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

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 Elliot. 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 their 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?” 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,” “U.S. 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. [laughter]

Mark:  Back in the day, right?

Victor:  [laughter] I know it.

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

[crosstalk]

Victor:  It was brick.

Mark:  We had straw. Brick, right? We had straw.

This week on Make It Last, Mark and Victor 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.

They’ll also be discussing the importance of getting to know your attorney, and why it’s important to discuss your goals with someone you know and trust.

There is power through education. It’s one of many keys that helps you create a unique and customized retirement plan.

Going through the motions? They’ll also be discussing the identity crisis that can come with the end of your career.

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

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

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, so you’ve heard him, have you seen him? Victor, you’re probably on billboards all over the New Jersey and Pennsylvania areas, right? Just New York City you’re there, Times Square?

Victor Medina:  Yeah, right. I think today’s billboards are probably my 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, well, 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 7:30 at somebody’s house in the area, everyone’s from general Mercer County, New Jersey area.

We meet at somebody’s house at 7:30. We sing from 7:30 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 have the privilege of leading talented musicians. It’s a lot of fun.

Mark:  I would 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 she do, ain’t it? [laughs]

Victor:  …what she’s singing, that the musical director that was on is this 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 capella group called Jersey Transit.

We have that cool connection that that music made it to Hollywood movie level. They had TV shows called “The Sing off.

This week on Make It Last, Victor and Mark will be discussing two major topics: What are the 4 things that all successful retirees have in common, and what are the 4 major costs of estate planning?

Once you have these two questions answered, you’ll be able to successfully strength test your retirement and estate plans.

House Dem’s presented a new tax bill…how will this affect you? Find out all of this and more on this week’s episode of Make It Last.

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

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 has two companies. We talk about both of them every week on the program, Medina Law Group and Palante Wealth.

Victor focuses 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.

If you have any questions about anything you hear today on the show or if you just have some questions or concerns about estate planning, about retirement planning, you can certainly call the team. There is no cost for that whatsoever. It’s 856‑506‑8300. Again, there is no cost. There’s no obligation. The team’s here to help, they just don’t know if they can until they hear your situation.

We’ll give you that number throughout the program, 856‑506‑8300. Glad you’re with us today, Victor. How are you? Things are busy, I’m sure, this time of the year.

Victor Medina:  I’m doing well, Mark. Incredibly busy. We’re getting towards the fall. The fall always means reviewing required minimum distributions for our clients. Making sure everybody’s in tip‑top shape, so we don’t have any issues coming towards the end of the year.

We certainly don’t want to be doing that work between Thanksgiving and Christmas. The team is up and running, and by the way, hosting any number of seminars throughout. For anybody that’s listening, if you are interested in attending an upcoming seminar, we do things for just women, empowering women in retirement.

We do things for couples. If you’re interested in any of that, you can go ahead and contact the firm at the number 856‑506‑8300. We’d be happy to provide you with a list of upcoming seminars, and see which one you might be best suited for.

Mark:  Yeah, there’s no cost to attend. Great opportunity for you to learn more. Now, let’s go to the House in Ways and Means Committee. I guess it was about mid‑September, so just a few weeks back, they submitted an 18‑page proposal on how to modify the tax law structure.

The tax law we’re under right now is basically called the Trump tax law, January 1,