Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Google Podcasts” or read below for How To Invest In Private Real Estate.

[145] – Real estate investing can be a lucrative venture for those who know how to navigate the market. However, there are many factors to consider when deciding to invest in private real estate.

In this episode, Jeremy Keil discusses how to invest in private real estate with our guest, Steve Kelly. Steve shares his insights on the various ways you can invest in private real estate and what you need to know to get started. He covers why someone would want to invest in real estate, the benefits of diversifying your investments, and some essential terminology you’ll need to know along the way.

Steve discusses:

Alternative investments, such as private real estate, are becoming more popular among advisors and individual investors. One reason for this is that private real estate tends to be less volatile than the stock market, making it a good hedge against volatility in the public markets.

Private real estate falls under alternative investments, such as private equity and venture capital, which advisors recommend to clients to diversify their portfolios and mitigate market volatility. Overall, private real estate provides numerous benefits for investment strategies.

There are different ways you can invest in private real estate. Some options include publicly-traded REITs, direct self-ownership of properties, and passive investing in private real estate.

Publicly traded REITs can be volatile and may not necessarily reflect the actual value of the underlying properties. Self-ownership of properties requires more hands-on management and maintenance. Passive investing in private real estate, like what MLG Capital does, offers a diversified approach with lower volatility.

There’s a significant contrast between public and private investing, mainly regarding the accessibility to information.

In public markets, everyone has access to the same information since publicly traded companies are required to publish the same information. On the other hand, in private markets, that is not always the case.

Different managers can report their quarterly statements to investors differently, and smaller private deals may not have much information about where your money is being held or what distributions are coming your way. While some private managers, like MLG Capital, publish quite a bit of information and are transparent about it, there’s still a big gap between the information you might have from the manager and the ability to review or evaluate the opportunity.

Additionally, if you’re considering investing in an individual property, you may have to value real estate on your own with a third party to verify if the assumptions that the manager is telling you are accurate or not.

Diversifying real estate investments by location and asset classes is crucial for managing risk, increasing potential returns, and providing investment portfolio flexibility. 

Investing in multiple locations can help mitigate risk. The real estate market in any given location can be influenced by a variety of factors, such as economic conditions and population trends. By investing in different locations, you can spread your risk across different markets and minimize the impact of any negative events that may occur in one particular area.

Different asset classes in real estate can offer different levels of risk and return.Therefore, it is important to diversify your investments among multiple asset classes. By investing in multiple asset classes, you can spread your risk across different types of properties and potentially increase your overall returns.

Various asset classes can also provide opportunities for passive income, such as rental income from commercial and residential properties.

When it comes to investing in private real estate, there are several factors that investors should consider to ensure they are making informed decisions and managing their risk effectively.

One key aspect is the laws that are in place to protect investors from potentially risky investments. The Securities and Exchange Commission (SEC) has set up regulations that require certain disclosures and filings from companies that are offering private real estate investments. These regulations help protect investors from losing their money by requiring companies to provide information about the investment’s potential risks and rewards, as well as financial and legal disclosures.

Access to information is a critical consideration when investing in private real estate, which can be more challenging due to a lack of available information compared to publicly traded REITs. However, investors can gather data from industry publications, professional networks, and investment advisors to make informed decisions.

Investors should also be aware of the typical minimum dollar amount required to invest in private real estate opportunities. These investments often require a higher minimum investment compared to publicly traded REITs, which can make them less accessible to smaller investors.

Understanding the terminology used in private real estate investing is also crucial for investors. Some key terms to be familiar with include “preferred return,” which refers to a set rate of return that you receive before the sponsor or developer receives any profits, and “return of capital,” which is the return on the initial investment amount to you. It is important to read the operating agreement and understand each of the fees and terms associated with the investment. Some terms could have different definitions depending on the offering documents.

Tax efficiency is also an important consideration, as you may be able to take advantage of tax deductions or other benefits through investing in private real estate. Cost segregation is a strategy used to accelerate tax deductions by allocating the purchase price of a property to components, such as appliances or parking lots, which have a shorter depreciation life than a multifamily property.

Investing in private real estate offers opportunities for diversification and potentially higher returns, but you should approach these opportunities with caution and ensure you are informed about the risks and potential rewards. You should understand the regulations, access relevant information, and familiarize yourself with the terminology to make informed decisions and manage investment risk effectively.

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To learn more about investing in private real estate, check out the resources below!

If you have any questions, feel free to contact us or our guest, Steve Kelly, using the contact information provided below!

Steve Kelly, AVP of Investor Relations at MLG Capital, focuses on building relationships with new and prospective investors and improving their experience. He enjoys staying active and engaging in outdoor activities such as running and golf. Steve also leads a church youth group and plays guitar for the worship team. He is an avid Wisconsin sports fan and loves to travel with his wife whenever possible.

Disclosures

Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies.

All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest.

This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.

The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results.

Legal & Tax Disclosure

Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.

Advisor Disclosures

Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.

Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A.

The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.

For important disclosures visit: https://keilfp.com/disclosures/

===

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Google Podcasts” or read below for 20 Years As A Financial Advisor.

[144] – The last two decades have flown by, and we can’t imagine how quickly the next 20 years will go.

In this episode, Jeremy Keil talks about the 20 years he has worked in financial services. He goes over what has and hasn’t changed, emphasizes the importance of having a financial plan in place, and stresses the value of education and creating a process to follow rather than relying on someone to make decisions for you. With a collaborative approach and a focus on helping clients make smart decisions for their future, Jeremy is dedicated to making retirement great for everyone.

Jeremy discusses:

Time just flies by. The financial advice industry has undergone significant changes over the past 20 years. After 2 decades of being a financial advisor, I’ve seen what has and hasn’t changed, the importance of having a plan ahead of time, learned a lot about people, where they’re making common financial mistakes, and seen the impact of technology on financial planning.

Over the past 20 years, the financial advice world has undergone some shifts, but the changes haven’t been as significant as anticipated. Initially, I thought that as a financial advisor, my role would revolve around convincing individuals to move their funds from banks to the stock market, with the goal of outperforming it. However, the focus has shifted towards helping clients make decisions that are unrelated to specific stock or bond purchases. Instead, the emphasis lies in guiding individuals to make choices that align with their own behaviors and beliefs. These decisions involve factors such as retirement timing, life expectancy, and pension options, rather than solely relying on the performance of individual stocks.

Over the past 20 years, one consistent lesson I’ve learned is the importance of having a well-prepared plan in place. Regardless of the specific year or market conditions, people often harbor concerns and fears about their finances, primarily influenced by external factors such as stock market fluctuations or political developments.

However, it’s crucial to recognize that the majority of the impact on your financial outcomes stems from your own choices and decisions. For instance, during market downturns, if you don’t need immediate access to your investments, withdrawing funds hastily might not be the wisest decision. Similarly, waiting until retirement to make significant changes to your financial setup is a risky approach.

Instead, be proactive and establish a comprehensive plan in advance.

In my experience, people who were prepared ahead of time, irrespective of market volatility or political shifts, experienced fewer worries and greater peace of mind. By having a plan in place, you can navigate through uncertainties with confidence and adapt as needed, ensuring a more comfortable financial journey.

Over the past two decades, I’ve learned a lot about people and their behaviors. Initially, I thought my main role would revolve around providing individuals with the best strategies for managing their money and making optimal financial decisions. However, I soon discovered that the greater challenge lies in motivating individuals to actually implement these strategies and take the necessary actions.

While the first puzzle of determining what to do with money can be solved with research and mathematical analysis, the more complex puzzle is understanding how to encourage individuals to follow through with the actions they should take.

People tend to crave certainty, but financial planning involves dealing with probabilities rather than guarantees. I have learned the importance of explaining these probabilities to clients, helping them understand that it is not about gambling or random chance. By educating them about the likelihood of success and making informed choices based on probabilities, people can navigate their financial journeys with a higher degree of confidence and alignment with their long-term goals.

The advancements in technology have undoubtedly made dealing with financial matters easier in many ways. With the advent of electronic platforms and tools, managing money has become more convenient and efficient.

In the past, tasks like transferring funds or completing paperwork required manual processes and extensive wait times. However, today, individuals can simply go online and perform various financial transactions with a few clicks. 

Electronic signatures through platforms like DocuSign have also streamlined the paperwork process. While technology has made it easier to handle money, it has also made it easier for people with bad intentions to commit fraud. It’s important to stay informed and vigilantly monitor financial activities to protect your finances.

One area where I often see clients make financial mistakes is in their vulnerability to promises that sound too good to be true.

Some may be inclined to wait for someone who guarantees them high returns on their investments, even if it seems unrealistic. This desire for quick and extraordinary gains can lead them to fall prey to people with bad intentions who deceive them. It is important to recognize that if something appears too good to be true, it likely is. 

Another common mistake lies in the misunderstanding of short-term and long-term financial goals. Many people fail to distinguish between the money needed in the near future and that required for long-term purposes. While a long-term perspective allows for tolerating market fluctuations, as individuals approach retirement, some believe that all their funds need to be readily accessible. They don’t. It’s important to understand the difference between short-term and long-term money and align appropriate solutions for each.

Additionally, the desire to “get rich quick” can lead people to chase speculative investments or trends. Whether it’s tech stocks in the late ’90s or cryptocurrencies today, people often succumb to the temptation of getting rich quickly. Make sure you evaluate current circumstances and focus on investments that are likely to yield favorable results in the next decade rather than relying on past successes.

My favorite part about being a financial advisor is being able to help people navigate the complexities of their financial lives. The ever-changing landscape of financial markets, tax laws, and interest rates can be overwhelming, especially with the advancement of technology and the multitude of options available. 

I find fulfillment in staying up to date with these changes and using my knowledge to help others. Whether it’s finding the best interest rates, optimizing tax strategies, or making informed decisions about retirement plans and social security, I love educating clients and helping them understand their financial situations better.

What has kept me in the profession is the rewarding experience of meeting new clients and witnessing their realization that they have gained more knowledge about their money in just one hour with me than in years with their previous advisors. It makes me want to continue providing information and guidance to more people who need it.

In the next 20 years, I plan to continue sharing my knowledge, educating people about their finances, and creating networks to support them better.

My goal will be to educate clients on the changing landscape of the financial world and guide them through a well-defined process tailored to their retirement needs. This process will involve collaborating with a network of experts who specialize in different areas to ensure clients receive the best support. The advisor-client experience is evolving from relying solely on a single advisor to embracing a network-based approach, where the emphasis is placed on following a proven process rather than relying on a specific individual.

By prioritizing education, implementing a comprehensive process, and connecting clients with qualified professionals at each step, we can maximize the likelihood of creating a successful financial plan. A collaborative approach ensures clients receive ongoing support and guidance as they navigate their financial journeys.

___________________________________________________________________________

To learn more about the past 20 years in the finance industry and Jeremy Keil, check out the resources below!

If you have any questions, feel free to contact us using the contact information provided below!

Disclosures

Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies.

All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest.

This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.

The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results.

Legal & Tax Disclosure

Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.

Advisor Disclosures

Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.

Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A.

The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.

For important disclosures visit: https://keilfp.com/disclosures/

===

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Google Podcasts” or read below for How To Design Your Retirement Income Map.

[143] – How can we prepare for retirement with the current upward inflation trend?

In this episode, Jeremy Keil interviews Dennis Tubbergen, financial advisor, radio host of Retirement Lifestyle Advocates and consumer finance author, about designing our retirement income map. Dennis shares his explanation of how to prepare for retirement, touching on topics of inflation and deflation, post-pandemic investing, tax saving strategies, and revenue sourcing, to name a few.

Dennis discusses:

Are you worried about how to design your retirement income map and invest for both inflation and deflation? Continue reading on as we help you prepare for retirement and maximize your income.

Inflation is a major concern for all Americans right now, but especially for retirees because it can erode the value of their savings and reduce their purchasing power. That may not seem like that big of a deal for Americans who are actively employed, but retirees need to plan to stay ahead of inflation with other means of income.

To beat inflation, it’s important to invest in tangible assets like gold, silver, and certain types of real estate. These assets tend to hold their value during times of inflation and can provide a hedge against inflationary pressures.

Deflation is another economic concern that everyone should be aware of and prepare for as they approach retirement. 

To prepare for deflation, it is important to invest in assets that are likely to hold their value during times of economic contraction, like certain types of real estate. Some real estate will do very poorly, like residential and commercial real estate, but farmland is a good investment for deflation because it tends to hold its value and can provide a steady source of income.

The COVID-19 pandemic has had a huge impact on the economy and the way we invest.

Dennis Tubbergen shared that he expected the government’s response to the pandemic by stimulating the economy through increased spending, which led to massive inflation. As anticipated, we find ourselves amid a wave of inflation and expect it to continue to accelerate. He emphasizes that the current wave of inflation is likely to be temporary and that the long-term effects of high debt levels will ultimately drive deflationary pressures.

While precious metals like gold and silver have not performed as he initially expected, Dennis foresees a promising future for them. Post-pandemic, it’s important to focus on investing in sectors that are likely to grow because they’re likely to provide strong returns and can help to diversify your portfolio.

Revenue sourcing refers to a two-step process that involves creating a retirement income map and an allocation map to maximize retirement income. This involves knowing how much income is needed during retirement and how much money will need to be pulled out of investments.

The first step involves determining the desired or necessary income during retirement. This includes considering factors such as Social Security benefits and maximizing defined benefit pensions. Understanding the net income needed rather than focusing solely on gross income is crucial.

The second step involves building an allocation map to optimize the success of the retirement income map. This allocation map determines how much money should be allocated to safe money assets and buckets to safeguard against potential risks. It also considers allocating funds to an inflation bucket, taking into account the impact of inflation on retirement income.

By effectively designing and implementing your retirement income map, you can increase your probability of a successful financial plan in retirement.

When it comes to 401(k)s and IRAs, there are several mistakes that retirees need to avoid. These include not contributing enough to these accounts, not taking advantage of employer matching contributions, and not diversifying investments across different asset classes. It is important to work with a financial advisor to avoid these mistakes and maximize your retirement savings.

401(k)s can often be expensive and offer limited investment options. It is crucial to assess the available asset classes and evaluate their performance during market downturns to understand the historical drawdown risk. Avoid subjecting essential retirement funds to unnecessary market risks.

It’s also important to be aware of the partnership with the IRS that comes with IRAs and 401(k)s. Consider choosing when to pay taxes to the IRS. Taking advantage of tax planning opportunities can help optimize your retirement savings.

Additionally, it is vital to understand how required minimum distributions (RMDs) impact your retirement accounts. As RMDs increase over time, it is crucial to consider the long-term effects on taxes, Medicare Part B premiums, and the taxation of Social Security benefits.

Tax savings strategies are an important consideration for retirees with IRAs and 401(k)s.

One strategy is to consider Roth conversions, which involve converting traditional retirement account funds into Roth accounts. By doing so, you can potentially reduce your tax liability in the long run.

Unlike traditional IRA distributions, Roth distributions are not included in the formula that determines the taxable portion of your Social Security benefits. This means that by utilizing Roth conversions, you may be able to decrease the amount of your Social Security benefits subject to taxation.

You could take advantage of our current lower tax rates by performing Roth conversions now. For instance, if you file taxes jointly as a married couple, you can have up to $364,200 in income before reaching the 24% tax bracket. However, by 2026, based on existing laws, you could enter the 25% tax bracket with approximately $90,000 in income. This significant shift in tax brackets highlights the potential tax-saving opportunity that exists today.

Apart from Roth conversions, there are other tax-saving strategies to consider to help reduce your overall taxes and maximize your retirement savings. Consulting with a financial advisor or tax professional can provide further guidance on implementing these strategies effectively.

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To learn more about designing your retirement income map, check out the resources below!

If you have any questions, feel free to contact us or our guest, Dennis Tubbergen, using the contact information provided below!

Dennis Tubbergen is a financial advisor and consumer finance author of 7 publications and 4 best-sellers, with a radio show, Retirement Lifestyle Advocates, with over 70,000 listeners. Dennis has spent his entire career in the financial industry, advising hundreds of clients on retirement accumulation and income strategies. As a highly regarded consultant to financial advisors, he has helped more than 23,000 other financial professionals with various aspects of their financial advisory practices via his newsletter, audio programs, and coaching services. Dennis has helped found one broker-dealer, serving on the Board of Directors and then serving as President and CEO of a second broker-dealer. He has been a past President of an Investment Advisory Company and has appeared as a keynote speaker at many industry events.

Disclosures

Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies.

All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest.

This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.

The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results.

Legal & Tax Disclosure

Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.

Advisor Disclosures

Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.

Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A.

The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.

For important disclosures visit: https://keilfp.com/disclosures/

===

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Google Podcasts” or read below for How to Protect Your Money in the Bank.

[142] – Banks are supposed to make our money make more money, but what have you been getting in a bank? You probably haven’t received much of anything. When it comes to banks, everyone is talking about inflation and interest rates. 

In this episode, Jeremy Keil explains how you can protect your money in the bank. He breaks down three main things you can do to protect your money: how to protect your money in the bank, how to earn more interest, and the various available alternatives to keeping your money in a bank account.

Jeremy discusses:

It’s important to ensure that your bank is covered by the FDIC or NCUA. There is a $250,000 limit per depositor per account type, and there are calculators available on fdic.gov for banks and ncua.gov for credit unions to determine if you are fully protected.

The second step is to make sure you get the most coverage possible at that one bank. Places like bankrate.com and depositaccounts.com show you some high interest rates, different account types and the different banks you can go to. If you have over a million dollars, you can look into multiple banks or use services like maxmyinterest.com or americandeposits.com that can open multiple accounts for you and move your money to higher interest rates automatically. IntraFi Network’s ICS for cash service and CSCDA for holding deposits in multiple banks are also great alternatives.

Paying attention and being proactive in finding higher interest rates is key. Some banks offer close to zero interest rates, while others offer rates as high as 4%. If you’re a do-it-yourself type of person, depositaccounts.com and bankrate.com seem to be the best places I can find that have a listing of where you can get a one-year CS, a 6-month CD and 18-month CD with links to where you can go and open an account.

By looking around and locking in money at a higher rate, you can get two percentage points higher than the national average of 3% for one-year CDs. It is important to explore different markets for money, such as treasury bills that you can buy directly through treasurydirect.gov, treasury bonds, stable value funds in 401(k)s, and old annuities with guaranteed minimum interest rates.

The bottom line is you deserve to get more interest and you need to plan to do that, so look at those CDs and different banking services because it’s not about finding one bank and hoping they give you some good interest. It’s creating a plan and looking for the different areas that give you a much higher interest rate.

There are several alternatives to keeping your money in the bank that you should consider. With interest rates being low, it’s important to explore other options. Here are a few alternatives:

It used to be simple where you probably just used one bank with a checking account and savings account, maybe you had some CDs or went to the bank down the street because they had a CD special and you wanted to get some extra interest on that. But interest rates got incredibly low from 2009 to 2022.

According to depositaccounts.com, right now the national average on savings accounts is about 0.4% and the top rates are 4.4% which is a huge difference where you can do nothing and get close to zero, or do something and get 4% higher. When it comes to CDs, the national average is around 3% and the high is 5%, so you can get two percentage points higher by looking around and locking in your money at a higher rate because you took the time to look around.

Overall, it is important to consider the money market and explore different markets for money.

___________________________________________________________________________

To learn more about protecting your money in the bank, check out the resources below!

If you have any questions, feel free to contact us using the contact information provided below!

Disclosures

Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies.

All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest.

This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.

The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results.

Legal & Tax Disclosure

Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.

Advisor Disclosures

Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.

Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A.

The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.

For important disclosures visit: https://keilfp.com/disclosures/

===

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Google Podcasts” or read below for Safety-First Retirement Planning.

[141] – Everyone wants to feel a sense of safety with their retirement plan. That’s why Wade Pfau wrote Safety-First Retirement Planning to help you understand and prioritize safety in your retirement planning process.

In this episode, Jeremy Keil speaks with Wade Pfau, Ph.D., CFA, RICP, Founder of Retirement Researcher and professor of retirement income at the American College, about safety-first retirement planning. Wade details what safety-first retirement planning is and explains why it’s an important starting point for retirement planning.

Wade discusses:

Retirement planning can be a daunting task with concerns of when you should take Social Security, how you should pace using your retirement investments as income, and just an overall worry about planning a successful retirement because you only have one shot at retirement. Wade Pfau, Ph.D., CFA, RICP, Founder of Retirement Researcher and professor of retirement income at the American College, about safety-first retirement planning, shares some information about what safety-first retirement planning is and the importance of finding a personalized approach to retirement planning.

The four main retirement planning strategies are total returns, time segmentation, income protection, and risk wrap. 

In the past, total returns has been called systematic withdrawals. It’s the idea of building a diversified investment portfolio and spending from it as you go through retirement.

Time segmentation can also be called bucketing, and it’s when you invest differently based on the time horizon, such as bonds for short-term expenses and stocks for long-term expenses.

Income protection has also been called flooring or essentials versus discretionary, and it’s when you first build a floor-protected lifetime income to cover your basics. Then you can invest on top of that for more discretionary types of goals.

Risk wrap is for individuals who are fundamentally just more comfortable with the market but still want some sort of protected income floor as well. That’s where different types of annuity innovations over the years may speak to that in terms of being able to invest for the upside while still having downside protections in place.

It is important to find a retirement strategy that aligns with your preferences and comfort level.

Safety-first retirement planning focuses on ensuring a secure financial foundation before delving into market investments and volatility. Wade Pfau wrote his book, Safety-First Retirement Planning, and explains a safety-first retirement plan as a contractual protection strategy.

It involves seeking income protection and utilizing time segmentation or deferred fixed annuities to cover shorter-term expenses while preserving the principal amount until maturity.

The primary goal of safety-first retirement planning is to establish a lifetime flooring of reliable income sources. These sources typically include Social Security benefits, traditional company pensions, and other forms of guaranteed income. By securing these essential income streams, individuals can bridge the gap between their desired retirement lifestyle and the income provided by these reliable assets.

In cases where there is still a shortfall in meeting retirement income goals, safety-first planning suggests considering annuities that offer protected lifetime income. These annuities leverage risk pooling to provide competitive returns compared to stock market investments, ensuring a stable and predictable income throughout retirement.

Overall, safety-first retirement planning emphasizes the importance of securing guaranteed income sources and protecting against market volatility before considering riskier investment options.

Delaying Social Security can be a smart move. According to Wade Pfau, it’s the best annuity you can buy. By delaying Social Security benefits until age 70, individuals, particularly high earners, can maximize their lifetime income.

Today, with lower interest rates and increased life expectancy, delaying Social Security offers a higher probability of achieving a substantial lifetime income.

If funding your retirement during the delay period concerns you, Wade Pfau suggests creating a Social Security delay bridge where it’s acceptable to spend down other investment assets more rapidly since once Social Security benefits begin, there will be a significant boost in income. This approach reduces the pressure on investment assets in the long term. To implement a delay bridge, Wade recommends constructing a bond ladder or other low-risk income-generating assets to cover the income gap during the delay period.

Delaying Social Security can lead to increased lifetime income and potential legacy benefits. Carefully managing investment assets and utilizing income-bridging techniques can help you navigate the delay period and optimize your retirement income strategy.

The first thing you can do to improve your probability of a successful retirement is understand the odds and consider longevity. Instead of relying on guesswork or assumptions, it’s important to seek out and understand the probabilities associated with retirement decisions. For example, you can explore the odds of reaching a certain age, the odds of various Social Security or pension scenarios, and the odds of different outcomes for couples. Since people often don’t die on time, it’s crucial to account for potentially longer lifespans in retirement planning. Tools like LongevityIllustrator.org can provide insights into life expectancy probabilities based on age, gender, health status, and other factors.

You can also update your withdrawal strategies. Wade Pfau’s Retirement Income Dashboard is a tool designed to help you assess sustainable withdrawal rates. By considering factors like the current market environment, interest rates, annuity payout rates, and asset allocation, you can adjust your withdrawal strategy to adapt to changing circumstances.

Lastly, be aware of different retirement income styles. There are different ways to approach retirement, it’s not just about following a fixed 4% rule or assuming a constant withdrawal rate. Instead, you should be open to considering various withdrawal strategies, such as inflation-adjusted spending or variable spending based on market performance.

It’s important to take a personalized retirement approach because there is no best way to plan for your retirement income. There are four broad retirement styles and the best way to plan is to identify which style resonates best with your personality and comfort, and then plan according to that style.

In the end, the best way to plan for retirement is the way that matches how you want to approach retirement, not necessarily what a financial advisor thinks is best. Financial advisors who are comfortable with any of these different styles are going to be best positioned to help the most people compared to those who believe there’s only one way to do things.

___________________________________________________________________________

To learn more about Safety-First Retirement Planning, check out the resources below!

If you have any questions, feel free to contact us or our guest, Wade Pfau, using the contact information provided below!

Wade D. Pfau, PhD, CFA, RICP® is the founder of Retirement Researcher, an educational resource for individuals and financial advisors on topics related to retirement income planning. He is a co-founder of the Retirement Income Style Awareness tool and a co-host of the Retire with Style podcast. He also serves as a principal and the director of retirement research for McLean Asset Management. He also serves as a Research Fellow with the Alliance for Lifetime Income and Retirement Income Institute. He is a professor of practice at the American College of Financial Services and past director of the Retirement Income Certified Professional® (RICP®) designation program. He holds a doctorate in economics from Princeton University and has published more than sixty research articles in a wide variety of academic and practitioner journals.

Disclosures

Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies.

All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest.

This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.

The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results.

Legal & Tax Disclosure

Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.

Advisor Disclosures

Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.

Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A.

The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.

For important disclosures visit: https://keilfp.com/disclosures/

===

Check out Jeremy’s latest podcasts on retirement planning by listening on “Apple Podcasts” or “Google Podcasts” or read below for Planning For Retirement In Your 60s.

Are you nearing retirement in your sixties? As you plan for retirement, you need to pay attention to five financial areas.

In the podcast episode, Jeremy Keil explains how to plan for retirement in your sixties with a focus on avoiding mistakes and making great retirement decisions. Listen to the podcast above, watch the YouTube video or read below for how to plan for retirement in your 60s.

Are you planning for retirement in your sixties? Let’s make sure you don’t trip yourself up before reaching the finish line because you only get one shot at it! In this article, we’ll discuss the 5 key areas you should be focusing on in your 60s when you plan for your retirement.

The number one mistake people make when planning for retirement is underestimating their longevity. It’s important to accurately assess your life expectancy using tools like LongevityIllustrator.org so you can more accurately estimate how long you will live in retirement. How long you live in retirement is a key factor in determining so many other decisions like when to take Social Security, how to take your pension, and how much you can afford to take out of your retirement accounts each year.

When planning for retirement, it’s important to make informed decisions about when to retire, and when to take Social Security and pension based on your longevity and your available retirement savings accounts. If you are married, this decision doesn’t only affect you. It affects your spouse’s retirement income too, so the decision should be made together and with their longevity in mind. You can calculate your joint longevity with LongevityIllustrator.org. 

Ultimately, this decision comes down to considering the math and probabilities of retirement, rather than making assumptions based on incomplete information. Coordinating your decision when to retire with when to take Social Security and pension can help maximize your lifetime income.

Planning for taxes in retirement is crucial. You should consider the long-term tax implications of each account and take advantage of low tax years. It’s important to coordinate your tax planning with your overall retirement plan. 

Being intentional about when you should pay your taxes in lower tax years can help reduce the amount of taxes you have to pay over your lifetime and increase the amount of money you can hold onto for retirement.

A common way to lower your lifetime taxes is to take advantage of Roth conversions. When you project out your lifetime tax situation you’ll likely find times that your marginal tax rate is lower than other times. You should do a Roth conversion, of the right amount, during those tax years. You are much more likely to have a lower tax rate when you are married vs. single, before you take your Social Security, before you start your Required Minimum Distributions (RMDs), and before taxes are scheduled to increase in 2026.

Deciding how much to take out of your retirement accounts can be tricky. This decision is affected by the decisions of when you plan to retire, when your low tax years are estimated to be, and when you should start taking your Social Security and pension payments. 

It’s important to coordinate this decision with when to take Social Security and pension, as this can help maximize your lifetime income. You might have heard of the 4% rule that suggests you can take out 4% of your account each year. Following this guideline would likely encourage you to take your Social Security and pension earlier, which is likely to lower the lifetime amount of guaranteed income. Instead you may be better off taking a higher percentage from your accounts earlier in retirement, for a set amount of time, which allows you to take a lower percentage from your accounts later in life for however long you live. This concept is called the Retirement Hatchet and is a way to combine tax planning in the early years of retirement with a higher guaranteed lifetime income by waiting on Social Security.

Deciding which accounts to pull money from first is very important. Conventional wisdom suggests using non-IRA brokerage accounts first, followed by traditional IRA accounts, and then Roth IRA accounts. However, it’s important to consider the long-term tax implications of each savings account and take advantage of low tax years. While the conventional wisdom is a good start, you can improve on your tax situation by using the up-front low tax years suggested by this strategy to convert your Traditional IRA accounts to Roth IRAs.

You can maximize your financial security and have peace of mind in your golden years by taking a proactive approach to retirement planning. Remember to accurately assess your longevity and your joint longevity if you have a spouse, make informed decisions about when to retire and when to take Social Security and pension, coordinate your tax planning with your overall retirement plan, and decide which accounts to pull money from first makes the most sense financially for you.

___________________________________________________________________________

To learn more about planning for retirement in your 60s, check out the resources below!

If you have any questions, feel free to contact us using the contact information provided below!

Disclosures

Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies.

All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest.

This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.

The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results.

Legal & Tax Disclosure

Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.

Advisor Disclosures

Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.

Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A.

The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.

For important disclosures visit: https://keilfp.com/disclosures/

===

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Google Podcasts” or read below for 5 Steps To Plan For Your Retirement In Your Fifties.

[139] – If you’re in your fifties, you’re in your peak earning years, and finally have the time and money to do the things you’ve always wanted to do, but have you kept up with saving for retirement? You can save for retirement and still enjoy the fun part of being 50+.

In this episode, Jeremy Keil talks about how to plan for retirement in your fifties with five steps. He goes over the different catch-up contribution opportunities, avoiding lifestyle creep, researching your longevity, getting your insurance ready for the last decade of your career, and getting your investments ready for retirement.

Jeremy discusses:

One of the first steps to plan for retirement in your fifties is to take advantage of catch-up contributions. This means contributing more money to your retirement accounts than the standard limit. By doing this, you can make up for any past lost time or missed contributions.

There are a few different catch-up contribution opportunities available once you hit 50:

If you’re 50 or older and working, you can contribute $30,000 into your 401(k) in 2023. And for your IRA, you can contribute $1000 more than those younger than 50. If you are 55 or older, you have a $1000 catch-up contribution limit increase in your Health Savings Account (HSA).

Another important step to planning for retirement in your fifties is to avoid lifestyle creep. This means being mindful of your spending habits and not increasing your expenses as your income increases.

When you’re in your 50s, you’re likely earning the most money you’ve ever earned and have the least expenses, leading to the temptation to spend more money because it’s available to you.

But you don’t want to spend more than you plan to during your retirement because if you spend more now on a regular basis than you plan to in retirement, the sudden financial limitation will feel restrictive.

So, one way to avoid lifestyle creep is to make sure you’re saving as much as possible. By putting money directly into your retirement savings instead of seeing it in your bank account, you’ll be less inclined to spend it now and have it readily available to you when you need it.

By avoiding lifestyle creep, you can save more money for retirement and ensure that you’re living within your means.

Many studies show that you’ll spend more time in retirement than you expect, where you often retire earlier and live longer than you thought you would during your retirement.

Retirement is supposed to be fun. You can spend your fifties dreaming about your retirement, and what type of retirement you want to have, but while you’re dreaming about that fun retirement, we’d like you to research how you can make this retirement dream work.

Part of the research is to look at your longevity. Consider when you plan to retire, how long you’re likely to live and how much money you’ll need to support yourself during retirement. 

There are two things you should consider when researching your longevity: setting an age range you want to retire as opposed to one specific date and taking into account the possibility of outliving your finances. Use tools like Longevity Illustrator to learn more.

By doing this, you can make informed decisions about your retirement savings and ensure that you have enough money to last throughout your retirement.

Another important step to plan for retirement in your fifties is to get your different insurances ready. 

Insurance is important at the beginning of your career. You might have a new house, a new spouse, and kids and need things like term insurance and disability insurance. You get to a certain point where you feel like your house is paid for, your kids are out of the house, and you don’t need those insurances anymore.

 Well, insurance is there to protect someone who’s going to be missing out on your income if you’re not there and that someone might be you. The older we get, the more likely we are to suffer health complications or become disabled, and if you’re 55 and at your peak earning years, planning to retire for the next ten years from now, you may not have all the money that you need for the rest of your life saved up. 

You might need to protect yourself by still having disability insurance when you’re 50 and older. It’s important to consider it because even if some expenses go away, it doesn’t mean you don’t need that particular insurance.

The same thing goes for life insurance. Just because your mortgage is paid for and the kids are out of the house, it doesn’t mean your spouse doesn’t rely on you, especially if there is a large difference in income.

By reviewing your health insurance, life insurance, and other types of insurance to ensure that you have adequate coverage, you can protect yourself and your family from unexpected expenses and ensure that you’re prepared for any potential health issues that may arise during retirement.

Step 5 is to prepare your investments when planning for retirement in your fifties. This means adjusting your investment strategy to ensure that you’re maximizing your returns while minimizing your risk.

It’s tempting to focus on growing your money until a specific date and then switch to income, but the reality is it’s not just a flick of a switch. As early as your fifties, it’s important to start adjusting your investments for retirement. It’s vital to have a well-thought-out plan for your investments as you smoothly sail toward retirement.

The retirement red zone carries greater risks as you approach your retirement. By proactively adjusting and changing your investments based on your plan, you can navigate potential investment risks and make informed decisions.

It’s important to work with a financial advisor to develop an investment strategy that’s tailored to your specific needs and goals. By doing this, you can ensure that your investments are working for you and helping you achieve your retirement goals.

___________________________________________________________________________

To learn more about preparing for your retirement in your fifties, check out the resources below!

If you have any questions, feel free to contact us using the contact information provided below!

Disclosures

Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies.

All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest.

This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.

The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results.

Legal & Tax Disclosure

Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.

Advisor Disclosures

Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.

Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A.

The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.

For important disclosures visit: https://keilfp.com/disclosures/

===

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Google Podcasts” or read below for How to Lead a Life of Significance.

[138] – More than 1.1 million American soldiers have died in wars fought since the United States declared independence in 1776. This Memorial Day, let’s reflect on the sacrifices made by those who served and their families. 

In this episode, Jeremy Keil speaks with Chris Kolenda about how to lead a life of significance. Christopher D. Kolenda, a retired Army colonel and founder of the Strategic Leaders Academy, discusses his motivations for joining the Army, the importance of leading a life of significance, and what civilians can learn about leadership from warriors on the battlefield. He also touches on how studying history prepared him for his time in combat and reflects on what Memorial Day means to him, urging people to honor the troops who died under his command and those of other military leaders.

Chris discusses:

Leading a life of significance means making a positive impact on the world around you. It means living a life that has purpose, meaning, and a sense of fulfillment. A significant life is one where you are actively working towards achieving your goals and making a difference in the lives of others.

A significant life doesn’t necessarily mean being famous or wealthy. It can be as simple as being a good parent, a supportive friend, or a dedicated employee. What matters most is that you are living a life that aligns with your values, beliefs, and goals.

For Chris Kolenda, serving in the Army and later founding the Strategic Leaders Academy to help solo practitioners and small business owners grow a meaningful, joyful, and profitable business gives him a sense of purpose.

Chris Kolenda identifies two main things that stop people from leading a life of significance.

The first is not being mindful and self-aware of what their goals and values are. He emphasizes the importance of knowing oneself and understanding their natural superpowers. This can be achieved without having to meditate for long periods of time.

The second thing is risk aversion. People tend to stay in their comfort zones and avoid taking risks, even if they are not satisfied with their current situation.

The problem is that the path to transformation lies beyond the comfort zone, in the chaos zone. This can be scary and overwhelming, but with a guide and a plan, people can navigate through it and take the necessary risks to move forward.

The lessons learned from warriors on a battlefield can be applied to leadership in any area of life. In order to be an effective leader, it is important to have character, competence, and caring.

Having strong character means being honest, trustworthy, and respectful towards others, and leading by example.

Competence is important because success depends on being able to execute tasks effectively and efficiently. To be competent, you must have the necessary skills and knowledge in your area of expertise, as well as the willingness to learn and adapt.

Finally, caring about the people you lead is crucial for leadership success. This means being empathetic, listening to their concerns, and offering support when needed. It also means being willing to make sacrifices for the greater good.

By embodying these three key lessons, a leader can build trust, inspire loyalty, and create a positive work environment where everyone can thrive.

To Sum it all up, leading a life of significance is about more than just achieving success or personal fulfillment. It’s about making a positive impact on the world around you and living a life that aligns with your values and goals.

To lead a life of significance, it is important to be mindful, self-aware, and willing to take risks outside of one’s comfort zone. Learning from warriors on a battlefield, effective leadership requires character, competence, and caring. By embodying these qualities, a leader can inspire trust, loyalty, and create a positive environment where everyone can thrive.

___________________________________________________________________________

To learn more about leading a life of significance, check out the resources below!

If you have any questions, feel free to contact us or our guest, Chris Kolenda, using the contact information provided below!

Christopher D. Kolenda currently serves as the Adjunct Senior Fellow at the Center for a New American Security and the Founder of the Strategic Leaders Academy, helping solo practitioners and small business owners grow a meaningful, joyful, and profitable business. He is also the Senior Military Fellow at King’s College London.

A West Point graduate, internationally renowned combat leader, and retired Army colonel, Chris is known for his unique warrior-diplomacy. He defied conventional wisdom in Afghanistan by developing a strategy that motivated a large insurgent group to switch sides, the only example of such success in the 20-year history of the war. Unsatisfied with the complacency in the White House, State, and the Pentagon, Chris inspired change in the military’s strategy and got Defense officials on board to push for new diplomatic initiatives.

As a trusted advisor to three 4-star generals and two Secretaries of Defense, Chris became the first American to have both fought the Taliban as a commander in combat and negotiated successfully with them in peace talks. After resigning from the government, he brought the wisdom of warrior-diplomacy to the private sector, helping business leaders challenge conventional wisdom, imagine the future, and implement innovations that soar their businesses to new heights. Alan Weiss has selected Chris for his consulting Hall of Fame.

Chris holds a Master of Arts in European History from the University of Wisconsin, and a Master of Arts in National Security and Strategic Studies from the U.S. Naval War College. He is also the author of several books, including Leadership: The Warrior’s Art, The Counterinsurgency Challenge, and Zero-Sum Victory: What We’re Getting Wrong About War.

Disclosures

Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies.

All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest.

This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.

The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results.

Legal & Tax Disclosure

Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.

Advisor Disclosures

Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.

Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A.

The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.

For important disclosures visit: https://keilfp.com/disclosures/

===

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Google Podcasts” or read below for How to Fix America’s Retirement System.

[137] – How can we reevaluate outdated components, implement innovative approaches, and revolutionize America’s retirement system?

In this episode, Jeremy Keil interviews economist Martin Baily about how we can fix America’s retirement system. He proposes practical solutions from reevaluating outdated components implementing innovative approaches, and identifying potential areas of agreement between political parties, to reforming Social Security, making informed decisions regarding annuities in retirement, and emphasizing the significance of long-term care insurance policies in retirement planning. 

Martin discusses:

The traditional pension system, which was once the backbone of America’s retirement system, should be brought back.

Pensions provided a guaranteed income for life, which was a significant benefit for retirees. However, pensions have become less common in recent years, and many employers have shifted to defined contribution plans, such as 401(k)s, which place the burden of saving and investing on the individual.

One innovation that could be beneficial is opening up the Thrift Savings Plan (TSP) to private investment companies. This would allow retirees to have more investment options and potentially higher returns.

Only about half of Americans have access to retirement savings plans like the 401k and 403b savings plans through their employers. Opening the TSP to private investment companies would give more Americans the opportunity to save for their retirement.

Additionally, annuities could be a valuable addition to the retirement system, as they provide a guaranteed income stream for life.

Both parties can agree that Social Security needs to be improved. Small adjustments to provisions, tax rates, and benefits could help solve the Social Security problem without having to raise the retirement age.

Our Social Security system is already unfair to people at the bottom end because they get smaller benefits, but they also don’t get benefits for as many years because they tend to die much younger than people with higher incomes. Raising the retirement age would worsen this already unfair condition.

Many believe it’s logical to raise the retirement age because we’re lying longer, we’re healthier for longer, but that’s not true of everybody, and it’s particularly not true of lower income individuals.

One idea Martin Baily proposed is to increase benefits for widows, who tend to have lower incomes than their male counterparts.

Another solution is to trim benefits at the upper end for wealthy individuals. Modest adjustments to provisions, tax rates, and benefits could solve the Social Security problem without having to raise the retirement age, which would be unfair to lower-income individuals who tend to have shorter life expectancies.

The biggest concern for many retirees is outliving their money or running out of money during their retirement. Annuities provide a regular payout over your lifetime, which makes the worst case scenario of running out of your retirement savings a little less daunting.

Fixed annuities, which provide a guaranteed income stream for life, are a good option for retirees who want to avoid running out of money in old age. Variable annuities, which are tied to the stock market, can be riskier but offer the potential for higher returns. However, variable annuities also come with higher fees and expenses.

Because of the reliability of fixed annuities, Martin believes financial advisors should direct their retiring and retired clients towards fixed annuities instead of variable annuities.

Many retirees are holding onto their saved money instead of spending it during their retirement, as it was intended for. One of the reasons Martin Baily proposed is the fear of needing that money in the later years of their retirement in case they need long-term care.

That leads to the question: why don’t they invest in long-term care insurance?

Long-term care insurance policies are essential because they cover  the costs of long-term care, such as nursing home care or in-home care. These costs can be significant and can quickly deplete retirement savings, but purchasing insurance is unacceptably expensive.

We need to find a way to decrease the cost of long-term care insurance policies because they can provide peace of mind and protect retirees from financial ruin in the event of a long-term care need.

___________________________________________________________________________

To learn more about fixing America’s retirement system, check out the resources below!

If you have any questions, feel free to contact us or our guest, Martin Baily, using the contact information provided below!

Martin Neil Baily is Senior Fellow Emeritus in Economic Studies at Brookings. He is a Senior Advisor to the McKinsey Global Institute and to the Albright Stonebridge Group. Baily is the co-chair of the Financial Regulatory Reform Initiative of the Bipartisan Policy Center, and a member of the advisory panels of the Committee on Economic Development, and Macroeconomic Advisers. Dr. Baily earned his Ph.D. in economics in 1972 at the Massachusetts Institute of Technology. After teaching at MIT and Yale, he became a Senior Fellow at the Brookings Institution in 1979 and a Professor of Economics at the University of Maryland in 1989. He is the author of many professional articles and books, testifies regularly to House and Senate committees, and is often quoted in the press.

Disclosures

Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies.

All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest.

This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.

The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results.

Legal & Tax Disclosure

Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.

Advisor Disclosures

Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.

Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A.

The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.

For important disclosures visit: https://keilfp.com/disclosures/

===

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Google Podcasts” or read below for How To Become Distraction-Proof.

[136] – Retirement can be a time of great opportunity, but it can also be a time of great distraction. With so many options and so much free time, it can be easy to lose focus and become overwhelmed.

In this episode, Jeremy Keil speaks to Paul Kingsman about how to get rid of distractions. Paul draws on his own experiences as an Olympic athlete to share some personal stories and tips for becoming distraction-proof. He talks about the importance of having clearly defined goals, prioritizing time, and focusing on one thing at a time, and emphasizes the importance of rest and recovery, why you should learn from disappointments, and why seeking advice from seasoned individuals is helpful.

 Paul discusses:

Having a support system can be key to avoiding distractions and staying focused on your goals. It was for former Olympic swimmer Paul Kingsman.

He credits his mother for running interference and helping him prioritize his sleep during training. She acted as a gatekeeper and took messages or told people to call back after 8:30 PM, which was the time Paul had set for himself to go to bed.

Because she helped him hold fast to his standard, he was able to maintain the necessary rest and recovery his body needed for his intense training regimen. Having a support system that understands and respects your priorities can help you stay on track and achieve your goals, even in retirement.

Prioritizing your time and deciding which activities are most important can be a challenging task, especially during retirement when there seems to be an abundance of free time.

It is important to recognize that some activities, such as sleep, are essential for your overall well-being. While others may be less important (like taking calls late at night or catching up on your favorite TV series after spending the day with the grandkids,) you need to determine which activities hold the highest priority.

One technique that can be helpful is time blocking, where specific amounts of time are set aside for particular activities. This can apply to both work and retirement, allowing individuals to prioritize their time for activities that matter most to them, such as spending time with family, engaging in hobbies, or taking care of their health.

Rest and recovery are essential for anyone who wants to be able to do things over again and do it well.

Just like athletes, individuals need to take time to rest and recover after strenuous activities, which will allow them to perform better.

Repetition brings about mastery and security in any activity, whether it is a sport, hobby, or daily routine, so you should prioritize healthy routines and habits to avoid falling into bad habits, which can hinder their ability to repeat and improve.

The short answer is no, you can’t multitask and still avoid distractions.

For a longer answer, when it comes to avoiding distractions and multitasking, it’s important to choose what matters most and prioritize your time because multitasking is a myth.

Attempting to do multiple things at the same time can be detrimental to productivity because jumping between tasks creates distractions. Instead, focus on the top priorities and dedicate your time and effort to them.

It’s important to understand that just because you choose not to do something doesn’t mean it’s a bad idea, it may just need to be done at the right time and place. So don’t let trying to multitask and get everything done in one go become a bad habit. Time block and prioritize to get them all done when it’s appropriate to do them.

Moving on and moving forward are two different things that can be easily confused.

Moving on means letting go of negative emotions and not dwelling on a situation, while moving forward means using the experience to learn and grow, and taking positive steps towards achieving your goals.

Paul Kingsman shared his experience at the 1984 Olympics, where he finished 20th in the 200 meters backstroke, and how he used the disappointment to move forward and eventually win a bronze medal four years later. He believes moving forward requires accepting and analyzing the setback, learning from it, and then letting go of any negative emotions associated with it.

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To learn more about becoming distraction-proof, check out the resources below!

If you have any questions, feel free to contact us or our guest, Paul Kingsman, using the contact information provided below!

Paul Kingsman leverages his financial services industry knowledge, practical experience as a financial advisor, and Olympic medalist background to help fellow advisors overcome distractions, focus on priorities, and attain success sooner. Building a meaningful life and a thriving financial advisory business both require purposeful effort. As a speaker, author, and executive coach, Paul provides pragmatic solutions to common business challenges, empowering his audiences, readers, and clients with actionable tools for success. He teaches tried-and-true techniques that work in the real world, enabling advisors to fulfill their potential and enjoy their hard-earned success.

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