Our 2 Cents

We get a lot of questions about how the house (or houses) fit into retirement plans. From downsizing to rental properties to interest rates, today we explore some of the top retirement questions as it relates to all things housing.

1. Should I pay off the house as soon as possible or pay it off slowly?
2. Is it wise to downsize to a smaller home when I retire?
3. Is rental property a good idea to create income in retirement?
4. What are some of the major complications when it comes to handling real estate when it comes to estate and legacy planning?
5. What are the advantages of a reverse mortgage and when should I take one?

Listener Questions· I want to renovate my kitchen, but my husband says we need to save more for retirement. We already save a lot… how much is enough? – Samantha, Chicago
· I’m getting a big tax refund this year and have for the last several years. It’s nice to get the refund, but am I better off getting the refund or changing my withholdings? - Robert, Chicago
Tune in now to join us for this discussion!

Just like your iPhone or computer can become obsolete and need to be replaced, sometimes the way people think about retirement planning and investing is obsolete and needs to be replaced. On today’s show we talk about some outdated financial rules of thumb that people still cling to, and more current, modern alternatives to use instead.

1. The 4% Rule
2. The 10-5-3 Rule
3. Moving stocks to bonds when you get older
4. All you need is $1 million and you're set for retirement
5. The 80% Retirement Income Rule

Tune in now to join us for this discussion!

On Today’s episode we feature another one of our popular ‘Deep-Dives,’ where we spend more time digging through a singular topic on the show! Today, that topic is 7 Steps to a Secure Retirement.
What’s the real power of having a plan? Peace of mind, financial security and creating a future for you and your family that you can count on. But to accomplish that, you don’t want to just wing it, you’ve got to take a systematic step-by-step approach. Tune in to discover:

• What are the 7 Steps to a Secure Retirement?
• What steps have you accomplished?
• How committed are you to improving your financial success?
• What are the 3 core pillars of support from SGL Financial?

Don’t miss the episode as we discuss our secret recipe to a happy and secure retirement.
Go ahead and start listening today!

Life happens, things change, goals shift, and as a result, so should your financial plan. On today’s episode we expand on our topic from last week about why it’s so important to have your Mid-Year Plan Review and precisely what you should be including in that review. After that we dive into a detailed discussion of Longevity Risk, or what’s also known as the “Multiplier of Other Financial Risks.” While living a long time is generally never a bad thing, it’s certainly something that you must be financially ready for! Oh, and psst!…make sure you stay until the end for some more fun facts and personal tidbits about Gabriel & Steve Lewit!
Tune in now to join us for this discussion!

Should you be stuffing the ole’ mattress with cash? Whether in the mattress or in your checking account, today we give some insight on alternatives to keeping your money in cash—where it earns 0%... zip, zero, nada. Additionally, we dive into some headlines and Gabriel & Steve give advice on how to avoid being a victim to scams such as “Hackers seize popular Celebrity Twitter accounts for giant bitcoin scam,” and other common schemes. We conclude with a light discussion on why Mid-Year Reviews are so important and how they can benefit your overall plan performance.
Tune in now to join us for this discussion!

On today’s episode we discuss the value and benefits of having a financial advisor and, if you’re unused to paying a fee for advice, overcoming what may feel like fee ‘sticker shock’ when hiring a financial advisor (and why it’s still very much worth it!). We’ll also discuss whether to pay those pesky capital gains in your portfolio and diversify, or just keep the holdings and avoid paying the tax.
After that we answer a couple of great questions from our listeners!

• “I recently had a REIT proposed to me as an investment I should consider. What are your thoughts on these?”– Julie from South Barrington
• “My husband wants to pay off either our house or our rental property, just so that we’ll have something paid off. We have enough in our money market account to pay off one of them, but I prefer seeing a lot of money in that account, just in case we need it for something. Who’s right?”– Cheryl from Arlington Heights

Tune in now to join us for this discussion!

There are two classic planning blunders to avoid at all costs. The first blunder is confusing tax preparation with tax planning. You may think that your CPA is providing "tax planning" for you, but the reality is he/she is probably not! The second blunder is taking on too much risk to make up for lost time. Have you ever wanted to "double-down" to make up for lost time? Doing so can be quite risky… and what happens if this strategy backfires on you? Let’s find out!

We’ve got a really fun show lined up for you this week!
With the upcoming November election just four months away, what "money-moves" should you be making today to best be prepared? Also, what in the world is a ‘Corona Purchase?’
On today’s show we discuss a range of great topics, and even more importantly, we give you, our listeners, an opportunity to hear some fun and quirky facts about your hosts, Steve & Gabriel Lewit. Listen now! SHOW HIGHLIGHTS & TOPICS:Financial Planning After the Pandemic?According to a recent poll, 72% of Americans say that they’ll prioritize financial planning once the pandemic is over. What percent do you think actually will?
What’s a Corona Purchase?A new term has emerged in the world, dubbed the “Corona Purchase.” Due to boredom, extra savings, or some other reason, people are using this time to make large purchases. Boats, new cars, pools, house projects, etc… Do you think it’s OK if people splurge a little during this time, or should we embrace financial discipline and sacrifice given future economic uncertainty?
Should We Have a Second Stimulus Round?Now that it’s been a few months, what’s your assessment of the effectiveness of the stimulus checks and PPP loans? Do you think there should be another round for everyone?
The Personal Side - Getting to Know Steve & GabrielFun facts and getting to know us better! From favorite animals to nostalgic memories from the past. Discover some cool things you didn’t know about your show hosts. We have a lot of fun, be sure to listen in!

There’s a formula for everything, even knowing when you’re ready to retire. Here’s five question to ask yourself: Do you have confidence in your budget? Can you control your spending? Do you have a solid emergency fund? Have you paid your debts? Do you have ‘enough’ to retire?
Setting your retirement date can be exciting but being prepared for retirement is even MORE exciting so you can have peace of mind. Having the roadmap is the key to the worry-free retirement you’ve worked your whole life for.
Tune in now to join us for this discussion!
Today’s Topics· How to know when the right time to retire is?· 25% of Americans are dipping into their retirement accounts due to setbacks from COVID-19· Jason from Wheeling: “I have a variable annuity and I just found that the fees are very high. I’d like to move the money somewhere else, but I’d have to pay a penalty to take it out. Is it worth the penalty to get away from the high fees?”· Samantha from Northbrook: “We want to travel to all seven continents when we retire. Do we need more income in retirement that we have right now?”· Jason from Northbrook: “When should I take less risk with my investments? “

Everyone loves the idea of tax-free income… what could be better? However, it seems that most people still don’t have a clear picture of whether they should contribute to a traditional IRA or a Roth.
More importantly, why do people who say they want tax-free income, avoid taking action to achieve it? We look to investigate these curiosities and discuss the best strategies to get your money out of the tax system.
Today’s Topics

• Why is tax-free income so powerful?
• How high will the tax-rates potentially be in the future?
• Discussing the difference between a Traditional vs. a Roth IRA, and when the Traditional IRA still makes more sense
• Why people (unintentionally) avoid doing Roth Conversions
• Investors who say they want one thing, but do something else
• Can Indexed Universal Life Insurance (IUL) be used for tax-free income?