Our 2 Cents

Your Our 2 Cents podcast co-hosts Steve and Gabriel are back this week to round out their list of 22 money resolutions for 2022. Tune in to hear what's left on the list!
Plus, the guys will share one of their non-financial resolutions they're setting for themselves in the new year.
2022 Money Resolutions List - Part 2 of 2:

• There's no shortage of ways to consider making money improvements in the new year.
• We wrap up this two-part series with the second half of our 22 resolutions for 2022.
• Whether you resolve to make micro—or macro—improvements to your finances, taking the first step to identify areas in which you could be doing better is a great first step.

Steve and Gabriel's Resolutions:

• Plus, be sure to listen until the end when Steve and Gabriel share a resolution of their own for 2022.

Before the holiday break, Steve and Gabriel recorded a great episode of the Our 2 Cents podcast. To kick off the show, Gabriel shares a great analogy about retirement planning and the ways in which the fundamentals of building a retirement plan resemble those of building a house.
Next, the guys answer some thoughtful listener questions and wrap things up with some updates that will be coming to Medicare and Social Security in 2022.
Retirement Planning is Like Building a House:

• When building a house, what is the very first step you should take before digging in?
• A blueprint is helpful when visualizing what your "house" will look like, and gives you the opportunity to make changes before the building begins. We'll share how this is mirrored in retirement planning.
• A "Retirement Plan Tracker" or "RPT" is the foundation of every SGL client's plan. So what all is inside this crucial component of the plan?
• Just as every house depends greatly on each of its cornerstones, every financial plan relies on all of SGL's 4 Core Pillars. We'll share what they are.

Listener Questions:

• "I am turning 50 and I feel like I am behind on my savings. What are my best options to fast-track and get back on track to accelerate my retirement savings?" - Rick
• "In the higher inflationary period we are in, I hear more attention begin given to TIPS. Can you explain TIPS, and whether they should be in someone's portfolio?" - Jeff

Advisors everywhere have had some pretty unrealistic requests come up when meeting with clients. Steve and Gabriel will share some of the ones they've heard on this week's episode of Our 2 Cents, and the key takeaways you can learn from them. Then they look at some pretty quirky state taxes that will leave you shaking your head!
Unreasonable Financial Requests:

• Huge market gains, with little to no risk. Is that achievable?
• Will investors seeking the highest quality financial planning and advice, at the lowest possible price just end up getting what they pay for?
• Does that sneaky little tax trick some advisors are pitching even exist?
• Making exceptions—our thoughts on changing our entire investing philosophy for just one client

The Strangest Ways States Tax You (Or Don't):

• Arkansas eliminated state income tax for Texarkana residents in exchange for this unprofitable tax hike
• Deodorant vs. Antiperspirant—this state taxes these similar products differently
• What "candy" bar is exempt from Illinois' higher tax rate?
• Plus, this state will allow you to avoid sales tax on that fancy new exotic car you've been eyeing

After months of negotiation from both sides of the aisle, a new spending package has passed which leaves investors curious how it might impact the American people. Steve and Gabriel are taking a look at the new bill in this week's episode of Our 2 Cents, and sharing some important tax-saving strategies to consider before the end of the year.
The 1.2 Trillion Dollar IIJA:

• The Bipartisan Infrastructure Investment and Jobs Act has passed in the Senate - we'll break down what that means.
• How will the $550 Billion in new spending be allocated?
• We'll discuss two key questions on many American's minds: how will this new bill be paid for, and will it affect our taxes?

Strategies for Year-End Tax Planning:

• November = Tax Planning Time!
• To itemize, or not to itemize? And what is "bunching?"
• We'll cover important changes and reminders about RMDs, and share some charitable tax saving opportunities.
• Plus, other strategies to consider and identify if they apply to you.

Get to Know Steve and Gabriel

• What is your all-time favorite TV show?
• What is the best piece of financial advice you've ever heard or have gotten?

There's a lot more involved with comprehensive financial planning than simply focusing on the numbers, it actually starts with going back to our most basic needs as humans. That is our main discussion on this week's episode of Our 2 Cents!
Plus, Steve and Gabriel are talking about the supply chain disruptions and how the major issues are now being felt by consumers.
The Planning Pyramids:

• The symbol of a pyramid is widely used to illustrate many concepts in our daily lives.
• From the food pyramid to Maslow's Hierarchy of Needs, the notion that our most fundamental needs must first be met before we are able to continue up the pyramid is broadly understood.
• But when it comes to finances, Financial Planning Pyramids are abundant, so which ones are the best to be followed?
• Steve and Gabriel describe how they flipped the pyramid on its side and instead follow a 4 Pillar Planning approach. They'll share why they believe this is the best way to plan for retirement.

Supply Chain Chaos:

• Are the headlines about product shortages and supply chain challenges something we should really be concerned about?
• One break in the chain can cause a ripple effect across the whole system, but what happens when there are multiple breakdowns occurring simultaneously?
• What do the current supply chain issues mean for consumers, especially considering the upcoming holiday shopping season?
• Plus, listen in to hear some of the items that are hard to find. Some of these may really surprise you!

Welcome back for another great episode of the Our 2 Cents podcast!
We're covering a really interesting main topic this week that takes us into the psyche of investors. We also have a listener question that was sent in to us and we wrap up by learning a bit more about Steve and Gabriel!
The Danger of Overconfidence:

• What does the Roman Empire have in common with your financial plan?
• Overconfidence is an interesting psychological phenomenon, which can be particularly dangerous when it comes to investing and personal finance.
• Find out how overconfidence in three key planning areas can undermine your investing performance and retirement goals.
• We also take a look at how confirmation bias can sneak in and compound the negative effects of overconfidence.

Listener Question:

• "My Long-Term Care premium is going up this year based on a notice I received, and it is significant. Should I pay the extra premium cost, or should I just cancel it before it goes up again?" - Hannah

Getting to Know Steve and Gabriel:

• What is something that you've done that you think everyone should do at least once in their lifetime?
• Who was your favorite teacher growing up, and why?

Steve and Gabriel are "back in the saddle" with a new episode of Our 2 Cents!
On the show today, the guys are discussing a variety of planning gaps investors might experience—sometimes without even knowing it. Then they wrap up with a surprise segment that will have you questioning things you hear everyday. Be sure to listen in to the end to join the fun!
Does Your Plan Have Gaps?

• Many people are aware planning gaps exist, however they aren't able to identify them in their own plan. Are you guilty of having any of these Planning Gaps?
• Income Gap, aka the "Paycheck Gap"
• Social Security Gap
• Inflation Gap
• Tax Gap

A Surprise Trip Down Memory Lane:

• Have some fun with us as we take you on a trip down memory lane, and test your old-school knowledge!

Two very interesting and important topics have us thinking deep on this week's episode of Our 2 Cents.
We're discussing a mindset shift that occurs for retirees when the time comes to spend that nest egg, and whether many investors truly know what investments they own and why. Let's dive in!
Article Analysis - "Want a Better Retirement? Spend More of Your Money":

• Switching from a saving mindset to a spending one has proven difficult for many retirees.
• Find out what makes some retirees spend double the amount annually in retirement than their peers.
• What are the two driving reasons retirees don't feel comfortable spending in retirement?

Quote of the Month:

• We dissect a quote from successful investor Peter Lynch and how it relates to your investment portfolio and mutual funds.
• With roughly 7,943 available funds, how do you choose which one you pick?
• What are the primary criteria for assessing funds? Hint: there's a lot. We'll explain.

Modern day income planning is the star of the show on this week's episode of Our 2 Cents!
Income planning is such an important topic as it relates to your overall retirement plan. So much so that we've decided to give it our full attention this episode. Below is a glimpse at what's covered on the show, you won't want to miss this one!
Older, Traditional Income Planning:

• What exactly is the income planning approach of the past?
• How and where does this approach fail in retirement?
• Is the safe withdrawal rate still relevant in today's environment?

Modern Day Income Planning:

• How is it different, what are the available options, and what is it's goal?
• We'll introduce you to the new ways of planning, backed by research and evidence.
• Is it really possible to get more for less when it comes to your retirement income?