Retire With Ryan

With the Federal Reserve aggressively raising interest rates, it’s a great time to consider your options for short-term investments. Whether you have liquid cash or you’re a conservative investor, this episode is for you! Join me as I dive into the seven best short-term investments you can make to grow your money and save for retirement.

• Exploring money market accounts for short-term investing [2:22]
• The benefits of a one-year CD [6:03]
• What about short-term bond funds? [7:34]
• Taking advantage of Treasury bonds [10:09]
• Is a fixed annuity right for you? [11:41]
• The best short-term investment you can make [13:00]

Online banking has been a commonplace practice for many years. But did you know you can use online banks to find a good money market rate? Websites like Bankrate and NerdWallet (linked below) can help you find a competitive rate with several online banking institutions. However, not all online banks are created equal. Some may have stipulations that keep your money tied up for a fixed period, or there are specific limitations about transferring money in and out. That’s why it’s a good idea to know your options and read reviews about the online banks you're considering using for a money market account. Money market accounts are also the most liquid short-term investment option, so it’s worth exploring if that is important to you.

Another money market option for short-term investing is a mutual fund account. Rather than going through a bank or credit union, these money market accounts are obtained through a mutual fund company like TD Ameritrade Institutional, Charles Schwab, and Fidelity. This is a great investment option if you want your stocks, bonds, and mutual funds all in the same place. 

If liquidity is not a priority in your investment portfolio at this time, you may want to consider U.S. Treasury bonds. Typically, a two-year Treasury bond yields less than a ten-year one. Yet right now, the two-year bonds are paying almost 4% interest compared to the ten-year rate of 3.5%. The downside to this investment option is that anytime you sell a bond, the price could go down if interest rates have gone up. However, if you're willing to hold this bond for two years, the worst-case scenario is getting back nearly 4% interest. Treasury bonds are also not subject to state income tax which is another benefit of this strategy.

If you're willing to have even less liquidity with a little bit more yield, you could consider fixed annuities as a good short-term investment. A fixed annuity is an investment made with an insurance company where they invest your money in something else and pay you a higher interest rate because you're giving up some liquidity. For instance, if you want to take your money out early from a three-year fixed annuity, there will most likely be penalties. You may not even be able to make a withdrawal in the first year. Though interest rates for annuities are around 4.4%, they are subject to state and federal income tax, further decreasing your possible yield. Weigh these pros and cons before choosing annuities as a short-term investment. Listen to this episode for more short-term investment options to grow your money!

• Retire With Ryan Podcast 2022 Listener Survey
• Bankrate
• NerdWallet

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Long-term investments are a great way to help you save for retirement and add stability to your future. With so many options available, you need to know which investments are worth the time and resources you will ultimately put into them. On this episode, I’m going to discuss the five best long-term investments to help grow your money and set you up for retirement success.

• Reviewing why index funds are great investments [1:56]
• Why you need to invest in yourself [4:14]
• The beauty of depreciation [5:56]
• Embracing the entrepreneurial spirit [9:19]
• The rules for owning individual stocks [10:42]

One of the best investments you can make is an investment in yourself and your future. A great way to do that is by investing in training and education for yourself and your family. Although, education does not necessarily mean getting a degree. There are plenty of skills and trades that can improve your income potential. Then theoretically, you'll have more disposable income to invest in other opportunities mentioned in this episode.

Before investing in additional education, always do research to figure out what your increased earning potential will be. One of the best ways to do that is through a cost-benefit analysis. If it's going to take you 20 years to get back the investment you're making in education, it may not be worth it. Especially, if you’re entering retirement in that timeframe. However, the ROI is three to five years away, expanding your knowledge base and your income potential is probably well worth doing.

Real estate is an investment I talk about often on this podcast. One of the major reasons you should consider real estate as a long-term investment is depreciation. This allows you to write off a certain percentage of the acquisition cost for the property if you are investing in something outside of your primary residence. For instance, a residential rental property can be written off over 27 years, and commercial property has a write-off term of 39 years. Meaning, that even though you may be earning income off of your real estate investment, you can offset the amount on your taxes through depreciation.

That is on top of the costs property owners usually deduct like taxes, insurance, and other maintenance costs. Assuming you use a mortgage to acquire the property, the income from your tenants will help you pay it down. Once it’s paid off, you could keep renting the property out for additional cash flow or sell it and make a profit. Another benefit to property investment is leverage. Most banks require you to put down between twenty and thirty percent, whereas stocks have to be paid for in full. Real estate allows you to get more exposure with a smaller amount of money. Listen to this episode for more long-term investment strategies! 

• Retire With Ryan Podcast 2022 Listener Survey
• What Is The Difference Between An Index Fund And An ETF?, #113 
• 6 Ways To Make Money From Real Estate, #54 
• 7 Things To Know About Investing In Rental Properties, #55 

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Everyone is buzzing about the newly passed student loan relief program. The measure is estimated to help up to 43 million federal loan borrowers who will qualify for this debt relief. On this episode, I’ll go over the program and how it works, how to qualify, and the different ways you could potentially reduce your student loans.

• How much of my student loan debt can be forgiven? [2:17]
• Qualifying for student loan forgiveness [3:22]
• Exploring the logistics of the student loan relief program [5:47]
• Is the loan forgiveness plan a sure thing? [10:15]

The biggest question on every student borrower’s mind is how much of my debt can be forgiven with the new student loan relief program? For those who don't exceed the income cap, you'll qualify for up to $10,000 of traditional federal loans forgiven or $20,000 of Pell Grants. You can determine the type of loan you have by logging into your account with studentaid.gov. One thing to note is the debt relief is also not a lump sum. As a result, if your loan is less than the maximum forgiveness amount, you won’t be able to pocket the cash, but your loan will be paid off.

As mentioned, there is a qualifying income gap you would need to meet in order to be eligible for loan forgiveness. An individual borrower must have an income below $125,000 in either 2020 or 2021. For married couples filing joint taxes or as head of household, the annual income must not exceed $250,000. Eligibility is based on the adjusted gross income from either 2020 or 2021. Unfortunately, income from 2022 cannot be used. Current dependent college students can receive loan forgiveness, but they would have to use their parental income from 2020 or 2021, and the loans cannot have been issued after June 30, 2022.

Another great question about the new student loan relief program is which loans are eligible for debt forgiveness? Any Federal Direct Loan will be eligible, including direct subsidized and unsubsidized loans, direct Grad PLUS loans, direct Parent Plus loans, and direct consolidation loans. Additionally, Federal Family Education Loans (FFEL) are eligible with a few caveats. The Federal Family Education Loan program was discontinued in 2010, and allowed private lenders to work with borrowers to provide education loans guaranteed by the government. FFEL loan holders are eligible as long as the debt is held by a federal loan servicer.

However, commercially held FFEL loans are not automatically eligible for student loan forgiveness. You can find out who holds your student loan by once again visiting student aid.gov. If your loan is commercially held, you’re not out of luck yet! The current workaround for borrowers is to move their FFEL loan to a federal direct consolidation loan, making it eligible for loan forgiveness. Listen to this episode for more information on the new student loan forgiveness program and how you could be eligible to eliminate some or all of your student debt!

• Retire With Ryan Podcast 2022 Listener Survey
• Federal Student Aid
• Department of Education

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Investing can be complicated and confusing. With so many investment strategies out there, it’s important to find the one that best works for your portfolio. On this episode, I’m going to discuss the difference between index funds and an ETF, their pros and cons, and how to determine which one is right for you.

• Defining index funds and ETFs [1:36]
• Differentiating between index funds and ETFs [5:19]
• Deciding which investment is right for you [12:01]

An index fund is an investment designed to track a particular index. One of the most popular indexes is the S&P 500, an annual ranking of the top 500 companies doing business in the United States. Investors don’t own a piece of each of these companies in equal percentages, but rather the bigger companies in the index represent a larger percentage of your holdings. This is known as a cap-weighted index. Studies have shown that if you hold an index fund from year to year versus other investments where you have to pick individual companies to invest in, the index funds typically out-perform traditional investments. It’s better to own a broad portion of the market than try to guess which companies will give you the highest returns. Aside from the S&P 500, other indexes include the Dow Jones Industrial index, the Russell 2000 index, the IFA index, and hundreds more.

An exchange-traded fund, is otherwise known as an ETF. The first ETF was an S&P 500 index ETF created in 1993. After the stock market crashed in 1987, there were several investigations into how it happened and ways to prevent it in the future. A lack of liquidity in the futures market was cited as the reason for the single-day 25 percent dip. As a result, the ETF was born, allowing people to make multiple trades in the market without hurting the overall stock price. It took a while for ETFs to catch on. There were only 102 of these funds ten years after their inception. Today, however, there are over 7,000 ETFs on the market.

Now that we understand what index funds and ETFs are, let’s look at a few of the major differences between the two. When we say the term index fund, the word fund means that it is a mutual fund. With any mutual fund, you have to place your buy or sell order before the stock market closes on one of its 255 open days per year. The price you receive, whether selling or buying, is determined by whatever the price is at 4pm when the market closes. If liquidity is important to you, index funds provide very little because you can only make one trade per day.

That’s why the ETF was created! Exchange-traded funds can be traded just like a stock during the market’s open hours, with the main difference being that ETFs have no limit to how many trades can be performed daily. Because ETFs are structured differently, they allow for this level of liquidity versus mutual funds that are limited to their closing price. Another major difference between ETFs and index funds is that mutual funds force you to regularly pay out capital gains taxes at the end of the year. Because mutual funds are pooled accounts, when stocks have to be sold off within the fund, you could be subject to taxes even if you didn’t make any money on your investment. Listen to this episode for more on the difference between index funds and ETFs!

• Retire With Ryan Podcast 2022 Listener Survey
• The Institutional ETF Toolbox: How Institutions Can Understand and Utilize the Fast-Growing World of ETFs (Book)
• The Only Guide to a Winning Investment Strategy You'll Ever Need: The Way Smart Money Invests Today (Book)

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In over 20 years of working with clients, I’ve seen people choose bad investments that have negatively impacted their ability to save for retirement. Don’t let that be you! On this episode, I’m going to take a look at seven investments that every retiree should try to avoid and the alternative investments that are more likely to lead towards successful saving.

• Is this life insurance product a waste of money? [1:47]
• Don’t fall for false advertising [4:40]
• Why hedge funds aren’t worth the risk [5:50]
• Should you invest in crypto? [7:17]
• The do’s and don’ts of annuities [8:39]
• You can’t win if you don’t play [9:49]
• Only trust the pros [10:48]

There are a lot of options out there when it comes to choosing investments that will help you save for retirement. That’s why it’s so important to know which ones to avoid. You don’t want to bank on something that could ruin all of your hard work and retirement planning. The first investment to avoid is private real estate deals. Typically, these are done between friends and family or a small real estate company which many find enticing. Truthfully, you can get fortunate. Sometimes these deals work out, but mostly they end up being money pits due to false advertising. Some common issues regretful investors run into are overpaying for a flipped property, hidden maintenance costs, and large vacancies that leave the properties disheveled. If you want to invest in real estate, buying individual properties you can control is the way to go.

Another investment to avoid is life insurance. Life insurance is a good idea for most people to have. Specifically, a term life insurance policy is the most economical way to ensure that your loved ones are taken care of after you're gone. However, cash value life insurance is something you definitely want to stay away from. Mainly pushed by career agents at large companies, the cash value component allows you to earn interest on a portion of your paid premium that can be withdrawn or borrowed against in an emergency. While that may sound useful, the large fees imposed for having the account or using the money significantly eats into any benefit you may receive. You will have a much higher chance of long term success with regular retirement investments.

The third investment to avoid are hedge funds. For those unfamiliar, hedge funds quite literally hedge the risk in the stock market by using options or shorting a stock by betting it will decrease in value. For as long as I’ve watched the results of hedge funds, very few of them reach their expected potential. Sure, a select few will do well, but that’s a drop in the bucket compared to the unreliability of most hedge funds. In fact, hedge funds struggle to beat the returns of a simple index like the S&P 500. While they may seem like a logical “get rich quick” strategy, traditional stock and bond portfolios are a much better option to dependably save for retirement.

Finally, and probably most controversially, we have crypto currency. Crypto may be the hot button issue of the day, but does it make sense to have it as a retirement investment? Due to crypto’s speculative nature I think retirees should avoid it altogether. While Bitcoin and Ethereum may be the biggest names on the crypto market, many smaller digital currencies have lost 40 to 50 percent of their value. Crypto is also difficult to hold. Because most major financial institutions don’t support it, investors have to use crypto wallets like Coinbase, who charge an exorbitant broker commission of around 1.5% on every transaction. Crypto may be the currency of the future, but it's not stable enough to trust it with your future. Listen to this episode for more investments you should avoid in retirement!

• Retire With Ryan Podcast 2022 Listener Survey
• Should You Keep Your Life Insurance In Retirement?, Ep #7 

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Those in retirement often live on a fixed income. That’s why evaluating recurring expenses while planning for retirement is an excellent way to set you up for success. On this episode, I’m going to share seven easy and effective ways to cut costs and lower your overall monthly bills. If you want to learn how to decrease your electricity bill, save on groceries, and cancel unused subscriptions, this one is for you!

• Changing your electrical supplier [1:57]
• Why your insurance might need a shake-up [4:24] 
• The shopping tip you can’t afford to ignore [5:38]
• Get economical with grocery shopping [6:20]
• Unsubscribing from unnecessary costs [7:27]
• Are you ready to cut the cord? [8:58]
• An easy way to make extra cash [12:09]

The company that delivers your electricity is often decided by the town you live in. However, you may have several different options for electrical suppliers. Most people assume they have to purchase electricity from the set company that delivers it, but some states allow you to choose your supplier and get a potentially lower rate. Wi-Fi-connected smart thermostats are an additional way to save on electricity. These relatively easy-to-install devices learn your heating and cooling habits to use the most efficient amount of energy possible, ultimately lowering your monthly bill. 

Another big monthly expense most people continue to have through retirement is car and property insurance. Insurance companies can raise rates based on the overall accidents and claims within a zip code with every new policy term. You shouldn’t have to pay more because of the behavior of others. The needs of their business do not take your budget into consideration! That’s why it's prudent to shop around with the same frequency that companies change the rates. Loyalty discounts are often nominal, and you’ll likely save more money if a quality company offers you a much lower rate. 

With the advent of the digital marketplace comes the wonderful world of price matching. Most physical retail stores will match the price of an item if you find it cheaper at another store online. It’s especially important to do a price check on larger purchases because five minutes of your time could end up saving you hundreds of dollars. Discount codes are another great money saver when shopping online. Many digital coupon sites offer a web browser add-on to automatically find the best deals and price matches for items you’re looking at in real-time.

One area that can break a budget is monthly subscriptions. Many companies are moving to a subscription-based business model because it guarantees revenue. There’s nothing wrong with signing up for subscriptions if you’re going to use them, but those small monthly fees add up. A recent survey showed Americans pay an average of $237 per month in subscriptions. It may be worth reviewing what you’re paying for and if you are still getting value from that service. Netflix, Hulu, and HBO Max don’t need your hard-earned money as a charitable donation. A wonderful way to save and get free entertainment is through your local library. Many are unaware that libraries allow you to check out movies and TV shows as long as you have a library card. Some even have apps that let you check out media directly on your phone or tablet. Listen to this episode for more ways to cut your monthly bills!

• Energize CT
• 16 Tips and Tricks Aldi Shoppers Need to Know
• Cut the cord: How to ditch cable TV for good 
• Retire With Ryan Podcast 2022 Listener Survey

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Owning a life insurance policy isn’t just a good idea, it’s a necessary measure to ensure that the family you leave behind is taken care of. But how much life insurance do you actually need? On this episode, I’m going to discuss three different methods for determining the amount of life insurance you need and the best strategy for making that purchase.

• The simplest methods for determining how much life insurance you need [1:36]
• The seven steps for comprehensively calculating your life insurance needs [3:38]
• Exploring different life insurance policies [10:08]

Death is an inevitable part of life. It’s something everyone can anticipate at some point. Yet, so many are left financially unprepared by the passing of a loved one. That’s why it’s so important to not only have a life insurance policy but to ensure that policy provides enough financial security for those left behind. One of the easiest ways to determine how much life insurance you need is to multiply your annual income by ten. While that is relatively simple to figure out, it doesn’t account for additional assets or income your family would have received. You could also add the average cost of college tuition for every child who has yet to attend, but it’s still more of a broad stroke than an accurate assessment of your family’s needs in the event of your passing. Listen to this episode for the seven steps you need to know to accurately calculate your life insurance needs!

When it comes to purchasing life insurance, there are a few different options to consider. The best option for covering yourself during your working years is term life insurance. For many people, the need for life insurance disappears once they retire. Presumably, your retirement portfolio would be enough to provide for your spouse once you pass away. Term insurance is the least expensive life insurance you can buy because there is no investment or cash value component. You are strictly paying to be insured for the term of the policy. As long as you are in relatively good health, you shouldn’t have any issues getting approved. And depending on the coverage you need, expect to pay between $50 and $150 per month. 

As you get closer to retirement, your life insurance needs often decrease. You don’t need as much coverage because of the assets built in your retirement portfolio. Instead of buying one 20-year policy at a higher fixed level of coverage, you could spread the coverage out over a 5, 10, and 15-year policy in varying amounts. That way you can drop coverage off as needed and save more money in the long run. 

• 3 Reasons Not To Purchase Employer Supplemental Life Insurance, #109 

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Whether you're onboarding at a new job, or simply reviewing your existing benefits, you might be thinking about buying supplemental life insurance through your employer. On this episode, I’ll go over the three reasons why you should NOT purchase employer supplemental life insurance and the benefits of getting an individual life insurance policy. 

• Exploring employer life insurance options [1:25]
• Three reasons to stay away from employer supplemental life insurance [3:44]
• Finding the perfect individual term life insurance policy [10:17]

Many employers offer life insurance as a part of their benefits package. Typically, we see life insurance benefits offered in two different forms. The first is usually free and is sometimes referred to as basic group life insurance that pays out a fixed dollar amount or a portion of your salary in the event of your death. Because coverage is usually guaranteed and an included perk of employment, signing up is an obvious choice.

The second life insurance option given by employers is known as supplemental life insurance, and there is a cost associated with it. Paying for this coverage allows you to customize and increase your coverage limits per what your employer allows. Getting this coverage is a fairly easy process that requires some light paperwork. Similar to basic group life insurance, acceptance is all but guaranteed, making this a decent option for those with serious medical conditions and other potential underwriting concerns.

If employer supplemental life insurance coverage is so convenient and easy to obtain, why should we stay away from it? For starters, coverage purchased through your employer tends to have a higher premium than individual term life insurance policies. Yes, a huge benefit to the employer policy is guaranteed coverage, but because of that, insurance companies know they are covering a higher level of risk, and the premiums reflect that. Individual insurance policies don’t inflate your rate by forcing you to subsidize high-risk individuals.

Something else to consider before purchasing employer supplemental life insurance coverage is that the rates are often age-banded as an additional means of mitigating risk. Policy holders pay a certain rate based on their five to ten-year age range, and the premiums can dramatically increase simply because you’re a year older. The benefit of an individual term life insurance policy over the employer plan is that it locks in your rate for the duration of the policy. Listen to this episode for more reasons to avoid employer supplemental life insurance and potential alternatives!

• Policygenius 

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Planning for retirement can be a complex process. There are so many things to do that it’s easy to forget common pitfalls to a successful retirement strategy. On this episode, I’m going to go over the Top 5 Retirement mistakes that I see regularly, how to avoid them, and resources to make sure you’re on the right track.

• Are you paying too much in taxes? [1:31] 
• How soon is too soon to collect social security? [8:04] 
• Do you have an investor policy statement? [10:23] 
• How much money do you need to retire well? [11:45] 
• Don’t get ripped off by people or products [13:19]

The number one retirement planning mistake I see is people paying too much in taxes during pre and post-retirement. This happens most often in pre-retirement through missed deductions. Future retirees want to find out if their employers match 401k and 403b contributions and if they contribute enough to earn their companies maximum match. Those on high deductible health plans should also take advantage of a health savings account (HSA) if it’s availab. These two deductions alone can set you up for success in pre-retirement.

On the post-retirement side, you want to develop a strategy around your taxable income. Traditional retirement accounts allow you to take deductions upfront and pay taxes later. This could potentially create an issue in retirement because with various forms of retirement income like Social Security and a pension, retirement account distributions could put you in a similar tax bracket as when you were working. Not to mention mandatory distributions kick in when you turn 72. One way to tackle this problem is to take the money out now at a lower and predictable tax rate and put it into a Roth IRA where the money can be withdrawn tax-free at a later date. 

You would never plan a trip without knowing where your starting point is. So why do that when it comes to retirement planning and investments? A recent study showed that out of 6,300 Americans, half simply guessed a dollar amount when it came to knowing how much money they’ll need for retirement. Only seven percent of the study participants opted to use a retirement calculator. For whatever reason, many future retirees put off doing the math on how much they’ll need to live comfortably in retirement. Perhaps out of fear that the end goal is unattainable? But ignorance is not bliss! You have no chance of knowing where you stand without running the numbers and clearly planning for your future.

A great way to start the retirement planning process is through an investor policy statement. This guide establishes a framework for your portfolio by detailing your target asset allocation, which assets you’re investing in, the investment timeframe, cash flow needs, and your system for maintaining these investments. Without an investor policy statement, you’re essentially winging it. Buying and selling based purely on emotion rather than strategy. That will turn you into a collector of investments rather than a profitable investor. Having an investor policy statement means having a clear direction that helps you stick to your investments long-term. Listen to this episode for more retirement planning pitfalls to avoid!

• How Does Medicare Enrollment Impact HSA Contributions, #91 
• TCRS Annual Retirement Survey 
• How to Avoid Being Ripped Off By Your Financial Advisor, Ep #10 
• BrokerCheck
• Investment Adviser Public Disclosure

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Due to a recent rise in interest rates, annuities are experiencing record sales. This boom has listeners curious about whether to purchase hot ticket annuities or individual bonds. If you’re considering buying a fixed annuity, I want to give you the pros and cons of fixed income investments, as well as potential alternatives to help you make the best decision for your retirement portfolio.

• The pros and cons of fixed annuities [2:40]
• Taking a look at fixed annuity alternatives [7:16]
• Other ways to take advantage of rising interest rates [10:19]

With record high inflation rates, the Federal Reserve is doing everything it can to lower inflation by raising interest rates. This increase has produced competitive yields for fixed annuities, with interest rates between three and four percent depending on the company you invest in and the amount. If you want to purchase an annuity, I believe that three-year fixed annuities are the best option. Why three years? The unpredictable nature of these rates makes short-term fixed income investments the safer bet because there’s no telling what the rates will be beyond a few years. A three-year fixed annuity is much more predictable and will help to ensure a competitive yield. 

However, there are definitely some drawbacks to purchasing a fixed annuity. Anytime you buy an annuity, there is some type of commitment period for the investment. Meaning, that on a three-year fixed annuity your money will be tied for three years. If you want access to the principal before the commitment period is over, you would need to pay a penalty. Some annuities allow you to withdraw up to ten percent of the principal without issue. Anything above that will take money out of your pocket at a rate of seven to nine percent depending on the company. Then there is the nature of annuities themselves. These products are designed to benefit the insurance company over the investor. They take the money you invest in an annuity and invest it into something with a higher rate of return than your interest rate. They figure out how much money they need to invest in something to make a profit and pay you a lesser amount. If you decide to access the principal early, the company will have to sell off its investment as well. Any loss they incur on interest rates will then be passed to you.

Just as rising interest rates allow you to get a more competitive return on fixed annuities, the same can be said for bond investments. When you buy corporate or U.S government bonds, you want to make sure the brokerage firm allows you to purchase individual bonds with your account. Additionally, the yield on a two-year U.S. government bond has risen to 3.2 percent. That means you can get a similar yield to a fixed annuity with a shorter commitment period. There is also very little risk with treasury bonds because the U.S government would have to default into bankruptcy for someone to not get their money back. 

Liquidity is another huge advantage to U.S. Treasury investments. Investors can sell these bonds at any time without penalty. The only downside is that market value adjustments can cause you to sell these bonds at a loss if interest rates have risen since the purchase date because the price of the bond would go down in value. Investors can also look to corporate bonds as a potential investment option with higher yields. However, with the greater reward comes the greater risk of investing in companies subject to market volatility. For more information on fixed annuities and other investment opportunities, listen to this episode!

• 4 Things To Know Before Buying A Fixed Indexed Annuity, #58 
• Should I Own Individual Bonds or A Bond Mutual Fund?, #98 
• Investors Pour Cash Into Higher-Yielding Fixed Annuities (WSJ Article) 

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