Our 2 Cents

We’re back with another podcast episode of Our 2 Cents! Here’s what we we’re discussing this week.
Lessons from the Stock Market Crash “Hall of Fame”:We don’t know when the next market crash will be, and we don’t know the severity of it, but we do know that it will happen so you need to be prepared for it. We’re covering common themes we’ve seen in past crashes, the lessons we’ve learned personally from navigating people through market crashes and also some key takeaways that can be learned from crashes of the past.
What Drives Advisors a Little Crazy:In this light-hearted segment, Steve and Gabriel explore where they’ve encountered frustrating elements of the financial world. Hint: a few of them involve what some other advisors are doing—and not doing—on behalf of their clients.
And, Another Round of "Get to Know Us" with Steve and Gabriel!We wrap up by answering a fun question so you can get to know us better on a personal level. ­

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Join us for our 56th episode of Our 2 Cents podcast! Here’s what we’ve got in store for you when you tune in. “Things You Never Hear People Say:”When it comes to money and retirement, there are some tried and true strategies that simply make too much sense. In this episode, we discuss five “Things You Never Hear People Say,” or in other words, 5 things you can do with your money and finances that are a no-brainer! Your Ideal Retirement Lifestyle:Our second topic focuses on assessing and choosing your dream retirement lifestyle. What different ways to people like to enjoy their retirement years? From sitting on the front porch, to RV’ing across the country, tune in to discover some excellent retirement living approaches. Listener Question – Strong Dollar vs. Weak Dollar:"Can you explain what the difference between the strong dollar and weak dollar means, and how does that affect my investment portfolio?" (Jeff from Deer Park)
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Do you need Long-Term Care Insurance? Does your spouse? And is it worth the costs? There are new long-term care coverage options out there that can be quite advantageous, and they are a major upgrade to the old LTC policy that Mom and Dad might have had. Next, we discuss the idea of ‘Retiring Solo,’ or in other words, when a couple's retirement dates don’t align. What is one spouse supposed to do and how do you stay happy as a couple while one continues to work and the other starts enjoying their retirement years? >>> Plus, Join Us for a Great Listener Question <<< "Is it a bad idea to do a Roth Conversion if I have high income?" - Mark from Schaumburg
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Today we put variable annuities under a microscope. When someone wants to gain the advantages of the stock market yet still have some guarantees, is a variable annuity the route to go? Next we cover some estate planning essentials. Can you keep your assets out of the courts and away from probate? Estate planning is one of the items that should be definitely be on your list of planning areas to review! Plus, Join Us for a Listener Question: "My long term care policy says it will pay out a maximum of $250,000 during my lifetime. Is that enough coverage?" (Robert from Deerfield) Tune in now to join us for this discussion!

It’s been quite the rollercoaster this last week and a half! With apparent President-elect Joe Biden winning both the electoral and popular votes, we talk about what that can mean, as well as discuss what lawmakers are proposing in their emergency bill to raise 2021’s Social Security COLA adjustment. After that discussion, we move to our next topic and have a little fun. What are the top 15 destinations for retirees to move to? This list of best locations to move to considers happiness, tax rates, affordability, and access to healthcare. Finally, we wrap-up with some more fun-filled facts about Steve and Gabriel—quite uncanny how similar their answers are!
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There’s a lot of uncertainty in today’s world with COVID, high unemployment numbers, the Presidential election, and the constant turmoil 2020 has brought us thus far. So how can you really know if you’re ready to retire? Take our self-health financial assessment and see if you are ready today!
1. How much money do you have in assets?2. Do you know how much you spend?3. What’s in your investment portfolio and how much risk are you taking?4. Do you know what you pay in taxes? Where will you get your income today, the next 5 years and so on?
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The uncertainty of both Coronavirus and the 2020 presidential election are casting an uneasy shroud across the nation. On today’s show, we discuss the state of the economy and the stock market—and what impact the COVID-19 resurgence and the upcoming presidential election may have on both. For many, questions are lingering… Who will win the election? Will more jobs be lost due to COVID-19? What tax impositions will be enforced if either President Trump or former Vice President Joe Biden are elected?
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On our special 50th episode-anniversary, we want to send a big THANK YOU to all our loyal listeners for staying by our side. We truly enjoy your questions, comments, and continuous feedback of our show, and we look forward to the next 50 episodes together!
ON THIS EXTRA-AWESOME 50th EPISODE:
Today we start off with some FUN retirement quotes and some clarifications of our last show based on comments from you, our listeners! For our ‘main course’ of the show, we then cover five financial and retirement no-no’s.

1. Should you compare your investments to the stock market?
2. Have you ever given up on a new financial strategy before you’ve given it enough time to play out?
3. Are you an investor who is chasing big returns too late in life?
4. Are you paying attention to investing costs and fees?
5. Have you procrastinated on making important financial changes?

Once again, thanks for joining us!

There are many questions surrounding the inner workings of a 401(k) and the best approach to the ‘do’s and don’ts during your working and retirement years. On this month’s ‘Deep Dive’ we answer questions such as;
1. What is dollar cost averaging?2. How much can one contribute on an annual basis?3. What is a target date fund and how can it benefit your retirement?4. Should one rebalance their 401(k), and if so, when?5. What should you invest in, within your 401(k)?
After our deep-dive, we come up for a bit of fun! Steve and Gabriel answer more personal questions and fun facts! Discover some cool things you didn’t know about your show hosts!
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On today’s show, we kick it off with the new tax act you’ve been hearing all about. The new Illinois Gov. J.B. Pritzker (D) has proposed sweeping changes to Illinois’ tax code, advocating a constitutional amendment to permit a graduated-rate income tax and proposing a new rate and bracket structure.
After we discuss the details and inner workings of these proposed changes, we dive into the upcoming election and how we think the markets will react after the new President is elected. Listener Questions· How do you feel about the proposed Illinois Fair Income Tax Act? – Ken from Arlington Heights
Related Articles

• Student of the Market – August 2020 – Election Year Special [BlackRock]
• Twelve Things to Know About the Fair Tax for Illinois [The Tax Foundation]

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