New Focus on Wealth with Chad Burton

This podcast episode features certified financial planner Chad Burton and Rob Black discussing various financial topics related to retirement planning, tax strategies, and investment decisions. Chad highlighted the importance of careful financial planning, especially for those looking to retire early or maintain their lifestyle in retirement. He discussed income gaps, working after retirement, tax season issues, and the impact of recent laws on financial planning, such as the Secure 2.0 Act affecting 529 plans. Chad also emphasized the need for personalized financial advice and decision-making based on individual circumstances and goals.

Additionally, the episode promoted an upcoming event in Lafayette, California, titled "Crafting Your Retirement," scheduled for Saturday, March 23rd. The event, hosted by Chad Burton and Stephanie Richmond, aimed to provide insights and strategies for retirement planning, tax-efficient investing, insurance considerations, and long-term care planning. Chad's expertise in financial planning and wealth management was highlighted as they discussed complex financial topics such as IRA to Roth conversions, 529 plan rollovers, and the importance of delegating financial decisions to professionals to focus on other aspects of life.

Timestamps:

[00:02:12] Working longer to delay retirement.

[00:06:31] Income gaps.

[00:10:01] Influencers and social media.

[00:11:44] Tax withholding issues due to yields.

[00:15:50] Contract workers transitioning to W-2.

[00:20:56] Underperforming rental properties in Bay.

[00:23:41] Rental property inheritance changes.

[00:27:25] Crafting your retirement.

[00:30:46] 529 Plan Rollover Rules.

[00:34:22] Delegation and financial planning.

Email your money question to [email protected]

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

In this podcast, Chad and Rob discuss various aspects of personal finance, wealth management, and estate planning. Throughout the episode, Chad and Rob delved into topics such as stress testing financial plans, the importance of estate planning, and the evolution of wealth management strategies over time. They also touched on the significance of having a solid financial plan in place to navigate market volatility and potential risks, emphasizing the need for proper asset allocation and risk management.

Additionally, the conversation covered the role of relationships in financial planning, the impact of tax law changes on investment strategies, and the importance of managing wealth effectively to secure financial stability. Chad highlighted the importance of staying informed about market trends, utilizing financial planning tools and software, and making informed decisions to protect and grow one's wealth over time.

Timestamps:

[00:03:02] Stress testing for financial plans.

[00:04:47] Planning for long-term care.

[00:08:55] Retirement planning strategies.

[00:12:54] Reacting to market fluctuations.

[00:17:49] Estate planning.

[00:20:29] Estate planning for younger families.

[00:23:41] Estate planning and heirlooms.

[00:28:49] Estate planning insights.

[00:32:31] Wealth management strategies.

[00:34:30] Geometric mean in wealth management.

Email your money question to [email protected]

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

In this episode, Chad and Rob delve into the complexity of financial planning, covering topics such as insurance, investments, taxes, 401ks, stock options, and more. Chad emphasizes the importance of proactive and ongoing financial planning, highlighting how life changes at different stages require continuous adjustments to financial strategies. The discussion underscores that financial planning is a dynamic process, not a one-time event, with factors like market trends impacting retirement plans and spending decisions.

Timestamps:

[00:00:52] What is financial planning.

[00:04:51] Asset Allocation in Retirement.

[00:08:37] Financial advice on social media.

[00:15:29] The great wealth transfer.

[00:16:19] Estate planning and inheritance changes.

[00:19:36] Leaving inheritance wisely.

[00:25:54] Keeping Trusts Separate

[00:28:47] Wealth management company factors.

[00:31:00] Real estate investment insights.

[00:35:08] Certified financial planner's role.

Email your money question to [email protected]

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

On this episode, Chad and Rob discuss the recent market downturn and its impact on retirement planning. Chad highlights the importance of saving for retirement, citing statistics on savings across different generations. Chad invites listeners to an upcoming event focused on retirement readiness and financial planning strategies. Tune in to gain insights on managing your finances for a stress-free retirement.

Timestamps:

[00:03:51] Portfolio construction is key.

[00:04:59] Tax efficiency and retirement planning.

[00:09:29] Jeff Bezos financial moves

[00:13:29] Tax-efficient portfolio construction.

[00:17:47] The importance of retirement readiness.

[00:22:14] Private Credit and Direct Lending.

[00:25:32] Private real estate tax efficiency.

[00:26:14] Real Estate Investment Trusts.

[00:32:36] Real estate investment stories.

[00:36:04] Real estate investment trusts.

Email your money question to [email protected]

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

Chad starts by discussing the upcoming event, "7 Steps for Retirement Readiness," which covers crucial aspects such as taxes, income, long-term care, safe money, investing, life goals, and health and wellness. He emphasizes the importance of this event in light of the challenges faced by investors in the current economic climate.

Moving on, Chad delves into the world of investing, specifically focusing on the S&P 500, NASDAQ, and popular tech funds like XLK. He highlights the concentration of the S&P 500 in technology stocks and the need for diversification, especially as one approaches retirement and transitions from growth-focused investments to a more balanced portfolio.

The discussion then shifts to the 4% rule, a guideline for determining retirement income. Chad explains that while the 4% rule is a useful starting point, it should not be blindly followed. He emphasizes the importance of having a comprehensive financial plan that considers factors like taxes, healthcare costs, and unexpected expenses.

The episode also explores the active vs passive investing debate. Chad suggests that a combination of both approaches can be beneficial, with passive investing being more tax-efficient in taxable accounts and active management potentially outperforming in certain asset classes like small cap and international stocks.

Lastly, Chad addresses the concept of sequence of returns risk, which refers to the impact of market fluctuations on retirement income. He emphasizes the need for a withdrawal strategy, diversification, and proper planning to mitigate the potential negative effects of market downturns.

Overall, this episode of "New Focus on Wealth" provides valuable insights and practical advice for individuals seeking to enhance their retirement readiness, navigate the active vs passive investing landscape, and understand the risks associated with sequence of returns. Don't miss out on this informative and engaging discussion with Chad Burton, a seasoned financial planner.

Timestamps:

[00:01:35] Retirement challenges and inflation.

[00:04:34] Concentration in investment portfolios.

[00:10:05] The 4% rule.

[00:14:55] Home maintenance and expenses.

[00:17:57] The Suitcases Always Packed Pass.

[00:22:34] Subscription management and savings.

[00:26:02] Active Management in Other Asset Classes.

[00:29:48] Trends in music industry.

[00:31:47] Sequence Return Risk.

[00:36:40] Long-term care and Medicaid planning.

Email your money question to [email protected]

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

In this episode, Chad & Rob provides valuable insights and advice on preparing for retirement. From wealth accumulation to wealth management, Chad covers the essential steps to ensure a secure and fulfilling retirement.

Here's a breakdown of what was discussed in this episode:

1. Retirement Phases: Chad explains the two main phases of retirement - wealth accumulation (age 20-60) and wealth management (age 60-100). He emphasizes the importance of planning for each phase and adapting to changing circumstances.

2. Five Years Out: Chad highlights the significance of dialing in your expenses and practicing retirement. He discusses the importance of finding purpose in retirement and managing financial freedom.

3. Steps to Retirement Readiness: Chad previews the upcoming event, "Seven Steps for Retirement Readiness," where he will delve deeper into the essential steps for a successful retirement. Topics include expense management, withdrawal strategies, social security planning, and more.

4. Healthcare Considerations: Chad advises on healthcare options for retirees, including COBRA, Covered California Plans, and Medicare. He emphasizes the need for careful tax planning and exploring premium tax credits.

5. Rolling Over a 401k: Chad provides a step-by-step guide on rolling over a 401k into an IRA. He discusses the importance of choosing the right custodian, understanding pre-tax and Roth contributions, and handling company stock options.

6. Annuities: Chad shares his insights on annuities, cautioning against the majority of annuity products in the market. He explains the importance of working with a fee-only advisor and considering alternatives like laddered bond portfolios.

7. Consolidating Accounts: Chad discusses the benefits of consolidating retirement accounts into a single IRA. He explains how this simplifies management, allows for random withdrawals, and avoids blackout periods during 401k provider changes.

Don't miss out on the valuable information shared in this episode! Join Chad Burton and Rob Black at the upcoming event, "Seven Steps for Retirement Readiness," where they will provide in-depth guidance on achieving a secure and fulfilling retirement. Sign up today at chadburton.com or robblackshow.com.

Remember, retirement planning is a crucial aspect of your financial journey. Stay informed, make wise decisions, and secure your financial future with New Focus on Wealth.

Timestamps:

[00:01:02] Getting ready for retirement.

[00:03:51] Planning for retirement expenses.

[00:07:44] Spousal options and retirement.

[00:11:39] Market highs and reduced risk.

[00:15:08] Investing in value vs growth.

[00:19:36-00:19:46] Giving notice and retirement plans.

[00:23:23] Rolling options into annuities.

[00:27:29-00:28:00] Annuities and life insurance policies.

[00:32:34] After-tax dollars in 401k.

[00:35:07] Rolling over retirement accounts.

Email your money question to [email protected]

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

The episode kicks off with a market update, discussing the performance of different indexes and highlighting the impact of China's economy on emerging markets. Chad also explores the challenges faced by regional banks and the potential risks associated with commercial loans and real estate investments.

Moving on to retirement planning, Chad emphasizes the importance of knowing your expenses and understanding how they may change throughout different stages of retirement. He provides valuable insights into the 4% rule, which helps determine if your portfolio can sustain your desired lifestyle in retirement. Chad also touches on the significance of balancing your financial goals with your personal fulfillment, including travel plans, hobbies, and volunteer work.

Throughout the episode, Chad shares practical tips and strategies, such as leveraging pledged asset lines to avoid selling securities, maximizing credit card rewards for travel, and navigating the complexities of timeshares. He also highlights the benefits of working with a certified financial planner to create a comprehensive financial plan tailored to your specific needs and goals.

Don't miss out on this engaging and informative episode that will empower you to make sound financial decisions, plan for retirement, and achieve long-term financial success. Tune in now to gain a new focus on personal finance, wealth management, and the economy.

Timestamps:

[00:02:18] China's impact on emerging markets.

[00:06:32-00:06:43] Commercial real estate loans refinancing.

[00:07:59] Flushed down the toilet.

[00:11:41] Commercial properties and restructuring.

[00:15:26] Small cap value investing.

[00:19:33] Financial considerations when selling homes.

[00:24:00] Borrowing against securities for real estate.

[00:26:59] The rule of 4%.

[00:31:39] Rough year for snow.

[00:33:35] Increasing vacation budget.

[00:36:26] Planning vacations on the fly.

Email your money question to [email protected]

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

In this episode of New Focus on Wealth, certified financial planner Chad Burton dives into the important topics of retirement readiness and healthcare costs.

Chad starts by discussing the seven steps to retirement readiness, which include assessing your financial situation, determining your asset allocation, and creating a withdrawal strategy. He emphasizes the importance of having enough safe money to cover expenses and the need for a proper tax plan to minimize taxes in retirement.

The episode also delves into the rising healthcare costs in retirement. Chad highlights a study that reveals a typical US couple may need up to $413,000 to cover healthcare expenses in retirement, especially if they have high prescription drug needs. He explains the complexities of Medicare, supplemental plans, and the impact of income on healthcare costs.

Throughout the episode, Chad emphasizes the need for individuals to prioritize their health and well-being in retirement. He encourages listeners to focus on maintaining a healthy lifestyle and making informed decisions about healthcare coverage.

Don't miss this informative and engaging episode of New Focus on Wealth as Chad Burton provides valuable insights and strategies for retirement readiness and managing healthcare costs.

Timestamps:

[00:02:30] Valuations of technology companies.

[00:06:09] Office real estate delinquencies.

[00:07:46] Real estate investment trust companies.

[00:13:04] Retirement planning and expenses.

[00:15:02] Retirement readiness

[00:19:04] How much to draw in retirement.

[00:23:44] Tax situation changes with Social Security.

[00:27:05] Long-term care and retirement.

[00:30:00] Healthcare expenses in retirement.

[00:34:15] Healthcare costs in retirement.

[00:36:43] Retirement planning and saving.

Email your money question to [email protected]

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

In this episode, host Chad & Rob discusses the importance of building a retirement portfolio and proper asset allocation. Chad emphasizes the stages of wealth accumulation and management and introduces the seven steps for retirement readiness. He also announces an upcoming event in Menlo Park, California, where attendees with $500,000 or more in stock market assets can learn about various financial topics. Tune in to gain valuable insights on retirement planning and investment strategies.

Timestamps:

[00:01:02] Retirement portfolio and asset allocation.

[00:03:53] Asset allocation in retirement.

[00:09:03] A good year in 2023.

[00:13:08] Asset allocation and diversification.

[00:17:08] Commercial real estate trends.

[00:19:08] Real estate occupancy rates.

[00:23:31] A 60-40 portfolio's recovery.

[00:28:29] The order of stock market returns

[00:30:37] Reverse dollar cost averaging.

[00:33:58] Planning for retirement expenses.

Email your money question to [email protected]

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

The episode kicks off with a discussion on the seven steps to retirement readiness. Chad emphasizes the need for a comprehensive financial plan that goes beyond just having enough savings. He highlights the importance of tax efficiencies, safe money allocation, and planning for long-term care costs. Listeners are encouraged to attend an upcoming event hosted by Chad, where he will delve deeper into these topics.

Chad also delves into the concept of linear cash flow and its significance in retirement planning. He explains how to calculate the rate of return needed to ensure a comfortable retirement and stresses the importance of being conservative in projections. By using a rate of return just under 6%, Chad helps listeners assess the longevity of their retirement savings.

The conversation then shifts to the challenges retirees face, including healthcare costs and the decision of when to take Social Security. Chad provides valuable insights on navigating Medicare, choosing supplemental insurance, and optimizing Social Security benefits based on individual circumstances. He also highlights the impact of tax planning on retirement income and the benefits of charitable gifting from IRAs.

In addition to financial planning, Chad emphasizes the importance of prioritizing health in retirement. He shares his personal interest in longevity and discusses the emerging research on the gut-brain connection, exercise, and healthy lifestyle choices. Chad encourages listeners to invest in their health now to enjoy a fulfilling retirement.

Timestamps:

[00:02:10] Linear cash flow.

[00:04:10] Rate of return in retirement.

[00:08:37] Average market gains and losses.

[00:14:33] CFP Chad Burton's outdoor adventures.

[00:16:20] Order of stock market returns.

[00:20:09] Medicare and supplemental insurance.

[00:23:05] IRA charitable contributions.

[00:29:36] Gut health and brain function.

[00:30:51] Focusing on healthcare and wellness.

Email your money question to [email protected]

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com