Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®

Suppose you have to have surgery. Does exploratory surgery sound like something you would volunteer to undergo? Or, does a pre-determined surgical plan sound better? If you're like me, having a plan and a repeatable process sounds less risky and what I would prefer.

The same goes for retirement. Retirement spending. Health Insurance. Social Security. Investing. Taxes. These are all key and complex areas where you need to make smart decisions for retirement. So how do you thoughtfully consider and carefully integrate them into a well-crafted retirement plan? 

Listen to Kevin describe True Wealth's Retire Smarter Solution™ that aligns your money to your goals, overlaid with tax-smart strategies, so you can retire with confidence.

If you are a DYI'er that no longer wants to perform exploratory surgery or are unsure if your current advisor is doing the same, reach out to the True Wealth Team at 855-TWD-PLAN or https://www.truewealthdesign.com/ for a free 15-minute call with an experienced CFP® professional to learn how the Retire Smarter Solution™ can help you.

Timestamps:

1:22 - Exploratory Surgery Is Not The Solution

4:10 - What’s The Big Picture?

5:27 - What Are You Actually Spending?

8:57 - Where Is Your Income Coming From?

9:52 - Factoring In Various Risks

11:44 - Having A Concrete Plan Alleviates Fear

15:41 - Making Sure Investments Match The Plan

16:01 - Using A Tax-Smart Distribution Strategy

Retirement planning (done right) has always been a continuous process. With the turmoil caused by the Coronavirus, prudent planning is having to be done and redone in short order. Things are changing quickly and you need to take a dynamic approach to your planning and investing to avoid dangers and capitalize on opportunities.

Hear Kevin dissect a ten-year client's dynamic retirement story. Learn why their withdrawal rate was more than twice the 4% rule of thumb and how their portfolio allocation has changed over time. And be sure to pay attention to the end to discover why their prudent planning has afforded them the luxury of taking a conservative investment approach or allows them to now be opportunistic.

Have questions? Need help making sure your investments and retirement plan are on track? 

Use this link to schedule a free 15-minute call with one of True Wealth's CFP® Professionals. 

http://bit.ly/calltruewealth

Timestamps:

1:16 - You Can’t Teach Experience

9:30 - Kevin Talks About Initially Meeting John And Jane

13:48 - Reducing Stock Allocation

16:47 - Appropriate Withdrawal Rate

19:47 - John And Jane In 2020

26:55 - Proving Your Worth Everyday

Hear Kevin give an update on the current state of the markets and financial planning to-do's that need to be done through the Coronavirus turmoil. Proper execution of your financial and investment plans is required in large amounts to make sure you stay on track.

It's not all bad news out there. Many opportunities are being created that you can capitalize on.

And be sure to listen to why you may want to reconsider your Roth Conversion strategy and Social Security claiming decision in light of current circumstances.

Get show notes and additional resources here: https://www.truewealthdesign.com/podcast/ 

Timestamps:

5:02 - High Quality Bond Behavior

12:06 - Considerations For Client’s Portfolios

18:13 - What Makes A Good Advisor

26:00 - How True Wealth Is Operating Currently

We're in a crisis ... different from 2008. The pandemic and prudent, social-distancing response is causing fear, uncertainty, and now panic in financial markets.

Listen to Kevin explain the current state of the markets and how this crisis is currently materially different from 2008. Be sure to pay attention to why -- from a financial perspective -- our country is better positioned to navigate through these troubled times by dusting off 2008's playbook, and what you need to do to keep your plan on track.

Have questions? Need help making sure your investments and retirement plan are on track? Use this link to schedule a free 15-minute call with one of our Certified Financial PlannerTM Professionals ---> http://bit.ly/calltruewealth

Get show notes and additional resources here: https://www.truewealthdesign.com/podcast/ 

Timestamps:

0:57 - Update: The Podcast Is Moving To Weekly Installments

3:41 - How Kevin & His Team Have Adapted To The Situation

8:21 - Where We Stand Now

21:20 - How The Bond Market Has Been Affected

34:11 - Keeping A Level Head With All Of The Changes

Timing the market sounds great, especially during times of market distress like that caused by Cornovirus (COVID-19) concerns. Who wouldn't want to participate only in the ups while avoiding the downs!? Sadly, the only way market timing will work is for you to get lucky, which is no way to invest your life savings.

Listen to Kevin describe the theoretical reasoning about why market timing does work and investigate both the academic research as well as the actual record of mutual funds that follow timing strategies. It's interesting to see how the research has been verified in practice by these funds.

Instead of falling victim to the allure of market timing, Kevin describes the current situation and prudent, processed-based response to help you tune out the noise and stay on track.

Episode 27 Investing Process: https://retiresmarter.podbean.com/e/your-investing-process-part-1/

Timestamps:

3:15 - Cluster Effect

7:58 - Different Types Of Asset Allocations

14:00 - Why Staying In The Market Long Term Is So Important Instead Of Market Timing

21:56 - Mutual Fund Evidence

25:52 - Things Are Bad Right Now, But Market Timing Isn’t The Answer

Shocks like the Coronavirus (COVID-19) or Russia's assault on oil prices can't be predicted. Yet, your financial life plan must be able to weather shocks and your investment strategy respond appropriately.

Timestamps:

2:45 - Kevin looks to put the past week of volatility into perspective.

8:54 - A lot of people have been reaching out recently to address their financial picture.

14:47 - Kevin is still making 401(k) contributions personally, despite the down market.

16:35 - All we tend to hear on the news is negativity.

21:25 - A look back at the health of the economy before the Coronavirus impact and what that tells us about when we get through this crisis.

Useful Info:

True Wealth Design Website: http://www.truewealthdesign.com/

Call: 855-TWD-PLAN or 855-893-7526

Congress has agreed on something! Your retirement accounts are not estate planning vehicles. (Sigh.) Provisions in the SECURE Act are now law as of 2020 and impact all IRA owners.

Listen to Kevin simplify the laws and unpack the 3 key changes. The good news is that if you're doing proper planning, you are likely less at risk than conventional media headlines and other financial advisors are reporting.

And be sure to pay listen at the end, when Kevin describes what premortem and postmortem strategies could help you and your family keep more of your hard-earned money.

Useful Info:

True Wealth Design Website: http://www.truewealthdesign.com/

Call: 855-TWD-PLAN or 855-893-7526

Pension lump sums are higher in 2020 than 2019. But which should you prefer? Listen to Kevin discuss how to financially evaluate the decision as well as what research shows retirees prefer.

Useful Info:

True Wealth Design Website: http://www.truewealthdesign.com/

Call: 855-TWD-PLAN or 855-893-7526

Sue is a recent widow and has gone through significant life and money transitions. Listen to Sue's unique story and learn why her financial concerns are likely the same as yours. And be sure to listen to why Sue refused to shake hands at the end of our initial meeting and what she did instead.

Useful Info:

True Wealth Design Website: http://www.truewealthdesign.com/

Call: 855-TWD-PLAN or 855-893-7526

Avoiding Ohio income tax is key for many snowbirds. The old adage of just having to be out of Ohio for 6 months never was correct. Listen to Kevin explain the key steps in documenting your Ohio nonresidency.

Useful Info:

Request The Ohioan's Guide To Snowbirding In Florida: https://www.truewealthdesign.com/contact/

True Wealth Design Website: http://www.truewealthdesign.com/

Call: 855-TWD-PLAN or 855-893-7526