Our 2 Cents

We've got another great episode of the Our 2 Cents podcast for you this week! Gabriel and Steve are sharing parallels between heathy eating and financial planning. Then they cover some financial terms and their meaning, before wrapping up with a listener question.
Fixing Unhealthy Financial Habits:

• What are the empty calories that could be in your financial plan.
• How added sugar in your plan could be really bad.
• What should you have in your "pantry" and why it's important to know what you do and don't have.
• Why trans fats are so tempting, but might be unhealthy to have in your financial plan just like your diet.
• How to determine if you have a healthy plan.

Breaking Down Financial Terms:

• Volatility
• Diversification
• Capital Gain and Capital Loss

Listener Question:

• "There's been a lot of media coverage lately on the inverted yield curve. What does that mean? When it occurs do you suggest any client action as media coverage usually mentions it has often preceded recession periods?" - Jeff P.

On this week's new episode of the Our 2 Cents podcast, the guys are recapping Steve's recent appearance on WGN 9 news where he shared helpful tips for tax filing procrastinators. Then they outline 5 useful ways to include life insurance in your financial planning that isn't just about the death benefit. Listen in now!
The Looming Tax Filing Deadline:

• Filing an extension - why it matters if you owe or if you are getting a refund.
• What you need to know now if you plan to use MyTax Illinois to file your state tax return.
• For those who took advantage of the child tax credit payments, how might that impact your taxes?
• Why your large refund is the same as giving an interest-free loan to the government.
• How tax planning is different from tax preparation, and how it can make a huge difference in your overall wealth.

The Many Uses of Life Insurance:

• There are tons of misconceptions about what life insurance can offer in financial planning, which means many investors don't think about it outside of its traditional uses.
• We will cover other ways life insurance can be a critical part of your financial planning, beyond just the death benefit:
• Life insurance for tax-free retirement income
• Life insurance as an alternative to a 529 Plan
• Life insurance for estate planning
• Life insurance for long-term care
• Life insurance as a cash alternative

Getting to Know Steve and Gabriel:

• What is the spiciest food you've ever eaten?
• Do you think we're alone in this universe?

Breaking down a recent USA Today article, on today's episode Steve and Gabriel are discussing issues that are increasing the difficulty in retirement planning. They also talk about the current state of the bond market and share some great getaways across the U.S.!
Murky Issues in Retirement Planning:

• How much income or asset growth is needed to offset inflation?
• How much income will Social Security provide in retirement?
• What is an ideal, or safe, withdrawal rate?

Challenges Investors are Facing in the Sliding Bond Market:

• Quarter-end bond statements might be surprising to many investors, as the bond market has experienced its worst performance in recent memory.
• What options exist for you? Should you look into replacing your bonds, or ride out the storm in anticipation of a rebound?
• What about that extra cash that you may have otherwise put into bonds, what bond-alternatives can you explore?

Adventure Ideas - Day Trips Near Big Cities:

• New York, Atlanta, Los Angeles and more! We're sharing some unique and adventurous locations near big cities that you may not know are out there.

Spring training is top-of-mind on today's episode of Our 2 Cents! Sit back and enjoy the baseball analogies for thinking about your investments. Next, the guys jump into some listener questions and then there's another question to get to know Steve and Gabe at the end of the show!
How to Plan Your Retirement Like a Game of Baseball:

• Should your lineup consist of only home run hitters, or is playing "small ball" the real way to win?
• How can you pick hitters that can handle the curveballs and fastballs that may come your way?
• The "Moneyball" approach to building your team - data, research, & analytics
• In baseball, five-tool players possess five specific skill sets. In investing, it's impossible for one single investment to cover all five core priorities. We'll share how to build an all-star lineup to cover them all.

Listener Questions:

• "I've got all my money in all tax-deferred IRAs and 401(k)s, should I move some of it somewhere else to be more diversified?" - George
• "I'm looking for safe money options but I don't know where to turn. I've looked at bonds, annuities, cash but everything has pros and cons and I don't know which one to pick." - Karen

Getting to Know Steve and Gabriel:

• "What is the silliest way you've gotten injured?"

Welcome back for another episode of Our 2 Cents. Steve and Gabriel jump right in by talking about some hidden voices you may have in your head that influence your money decisions. Then they cover the world of designations and credentials and how to detect which are important. They wrap up with a fun question, too! Listen in now!
The "Money Voices" in Your Head:

• How are we influenced by the "money voices" in our heads without realizing it?
• The two main voices: Greed and Fear, and how they drive our decisions.
• What can you do to silence the voices and listen to the facts instead?

Advisor Alphabet Soup:

• What are all those letters at the end of advisors' name?
• Which designations have more weight than others?
• Experience vs. education—which is more important?

Getting to Know Steve and Gabriel:

• "What is something that you do that makes you feel old?"

On today's podcast episode, Steve and Gabriel begin by discussing the Russia-Ukraine conflict's impact on the stock market and economy. Then they share some hidden biases that cost investors money and how to spot them within yourself. Last, they wrap up with a thought-provoking question from one of Gabriel's clients.
The Market Reacts to the Russia-Ukraine Crisis:

• Broadly speaking, what might the overall impact on the markets be in light of the current Russian invasion of Ukraine?
• Gas prices and inflation are already on the rise - what can we expect next?
• The S&P 500 has already entered into correction territory, what needs to happen for us to see a Bear market?

Are Your Money Biases Costing You?:

• There are 4 main money biases: Present bias, loss aversion, overconfidence & base rate neglect
• Hidden biases affect the money decisions you make, without you even knowing it
• Over 98 percent of study participants exhibited biases that cost them financially. So, how can you identify money biases within yourself and avoid them?

Client Question:

• "How do you deal/reconcile in your mind a previous investment decision that, had you done it differently, would have made you a ton of money?" - B.H.

Steve and Gabriel are covering a lot of great topics on this week's podcast episode. They're sharing ways to plan ahead for the unknown, and how doing so can bring you some peace-of-mind in retirement. Plus, steer clear of these expensive cities and financial scams in retirement!
How Can You Plan for These Unpredictable Events?:

• When is the next market crash going to happen?
• What will healthcare costs look like in 20 years?
• What will taxes be in the future?

Places You May Not Want to Live in Retirement:

• Top 10 most expensive cities in the world to live
• Would you consider retiring to any of these places?

Investor Beware! Financial Scams to Avoid:

• Crypto-Caution: how to "safely" invest in cryptocurrency and avoid fraudulent currencies
• Non-regulated investments: they usually sound "too good to be true"
• Romance scams: online dating partners after for your money

Welcome back to a fresh new episode of Our 2 Cents!
On the podcast this week we are discussing a few economic projections that we think might be possible this year. Next, we talk about the findings from a recent study on investors.Then we wrap things up by saving a great listener question for last.
Economic Predictions for this Year:

• GDP Growth Forecast - do we see a recession on the horizon?
• Housing Market - will we see it cooling off this year, or even the "bubble" burst?
• Inflation - will it continue to rise as it has been or will it come back down by year-end?
• The Great Resignation - what impact will the current labor shortage, remote work trends, and people continuing to leave the workforce have on our economy?

New Study Finds Clients That Are Using Financial Advisors Are Happier:

• What correlates using a financial advisor with increased "happiness indicators?"
• Plus, Steve and Gabriel will share another interesting finding about relationships that came out of this study.

Listener Question:

• "I tell myself I need to start saving more for retirement, and I pretend like I'm about to get serious and actually do it, but then I can never stay motivated to actually increase my savings. How do I get myself motivated?" - Rebecca

We've been following playoff football (even without the Bears) and it got us thinking about the "Retirement Red Zone" and why it's critically important to not make a financial fumble when you're so close to the finish line.
Next, we had Steve and Gabriel separately fill in the blanks on some financial potpourri, we'll compare their answers and see why they chose what they did. Join now to listen to these great topics and an excellent listener question!
Don't Fumble in the Retirement Red Zone:

• What is the Retirement "Red Zone," and what makes it such an important timeframe for planning?
• What are some types of retirement fumbles, and can you recover them?
• The plays you call in the red zone are different than the ones you use during the rest of the game, what kind of shifts should you consider making?

Financial Potpourri:

• The best way to be sure you don’t run out of money in retirement is to _______________
• The stock market has the ability to ____________.
• If your advisor tells you _______________, you should run the other way.
• When somebody comes to visit with you for the first time, they’re most likely to be worried about ___________.
• The most common mistake that you see retirees and pre-retirees making is ____________.
• The most gratifying part of your job is ___________.

Listener Question:

• "I have a lot of company stock in my 401k. How much do you think is too much, as a percentage of the account?" - Carl

It's a new year and we have fresh new show topics to look forward to on the Our 2 Cents podcast!
First we're diving into "The Great Resignation" movement and what to keep in mind if you're planning on joining this phenomenon. Plus, we're starting a new monthly planning tip segment in 2022 and we share the very first planning tip today. Listen in now to join the fun!
"The Great Resignation":

• 4.2 Million people quit their jobs as of October 2021, many with no plans to return to work
• Are you considering leaving the workforce, perhaps retiring earlier than originally planned?
• What questions should you consider before taking a leap and making an exit?

Planning Tip of the Month - January 2022:

• Know / See / Check-Up on how you're doing financially
• The start of the year is one of the best times to get a "financial map" of where you're going
• Why having savings and spending goals is so important
• Income planning questions to ask that will help you plan ahead

Getting to Know Steve and Gabriel:

• What is your favorite beverage?
• What subject, of any kind, do you wish you knew more about?