Retirement Game Plan with Mark Truttman

Interest rates currently sit at historic lows and it’s forced a lot of people to evaluate their current mortgage or think hard about adding a new one. Chris Jensen of The Jensen Group and CrossCountry Mortgage joins the show to give us the latest on real estate trends, refinancing information, and how long this opportunity might be around.

Read more and get additional financial resources here: https://www.platinumretirementsolutions.com/podcast/ep-6-what-to-know-about-current-mortgage-rates/ 

About the guest: https://crosscountrymortgage.com/ 

Today's show schedule: 

0:34 – Why we asked Chris to come on the show today.

1:27 – Let’s start with mortgages and the different types.

3:49 – What does inventory look like right now?

4:34 – What will a refi cost someone?

5:38 – How much is this impacting house payments for customers?

7:09 – Are a lot of people looking at 15-year loans now?

8:48 – How long will these rates last?

12:31 – How closely are rates tied to the Fed?

14:06 – Could this cause a problem for the market down the road?

15:08 – What’s the timing on this process right now?

The IRA is one of the most popular savings vehicles investors will use but there’s still a lot of confusion surrounding the account. Today we’re going to answer IRA FAQs and tell you about other ways to generate retirement income that you might not have considered yet.

Read more and get additional financial resources here: https://www.platinumretirementsolutions.com/podcast/ep-5-answering-the-most-common-ira-questions/ 

Today's show schedule: 

0:34 – What return should I expect from my IRA?

3:12 – The rule of 72

5:51 – Things change month to month.

7:18 – Traditional or Roth IRA?

8:28 – Have you considered an IUL?

9:26 – Why do certain retirement accounts get pushed harder than others?

Just like anything else, financial strategies can become outdated. Those rules of thumb that people have relied on for years might not make much sense anymore. Today we’ll look at three strategies that you may be mistakenly basing your retirement plan around.

Read more and get additional financial resources: https://www.platinumretirementsolutions.com/podcast/ep-4-financial-strategies-that-just-dont-work/ 

Today's show schedule: 

1:09 – First one: The 4% rule on withdrawing money.

3:54 – Second: The 10-5-3 rule on returns.

9:11 – Third: The Million Dollar retirement assumption

You know the old expression about customer service, right? Well, when it comes to financial planning, the job of the advisor isn’t to agree with every decision the client wants to make. Sometimes we have to step in and help the client understand why an action might be ill-suited for their goals. Let’s look at a few examples of that on this episode. 

Read more and get additional financial resources here: https://www.platinumretirementsolutions.com/podcast/ep-3-the-customer-isnt-always-right/ 

Today's show schedule: 

0:44 – Here’s why we’re asking the question today.

1:23 – The reaction from most investors when the market goes down isn’t usually beneficial.

4:15 – When we set up an income plan for you, we ask you these questions.

5:44 – What do you do in a market like this?

6:37 – You never want to keep scrapping the plan and restarting.

A turbulent economy will push investors to find predictable income sources to help offset the volatility, but how many options are out there? The truth is many investments appear to be a guaranteed source of income but actually aren’t. Let’s identify things that people commonly confuse with predictable income and help identify options you can depend on.

Read more and get additional financial resources: https://www.platinumretirementsolutions.com/podcast/ep-2-how-to-generate-predictable-income/ 

Today's show schedule: 

0:21 – Examples of things that people confuse with predictable income  

3:32 – Another myth is the bond accounts.  

4:17 – Are stock dividends a guarantee?

6:10 – Is there guaranteed income?

8:42 – An example about a portfolio that doesn’t make sense for a retiree.

Building a financial plan is a lot like constructing a house. From the foundation to the roof, all of the elements of a house work together to provide you security and longevity. That’s the same way your retirement plan works so let’s explore the idea and identify the different financial pieces.

0:42 – Are you good with your hands and enjoy building things?

3:22 – Here’s what we’re talking about today in terms of building a house.

4:23 – The foundation of your financial house

6:37 – Income sources aren’t an income plan.

7:26 – What would the walls be in your financial house?

8:50 – What should you have to strengthen that wall?

11:43 – Let’s talk about the roof now. What’s covering your head?

16:46 – Estate plan and tax plan are important