Retirement Plain & Simple

As we approach the fall, many employees will soon receive emails from their HR departments about open enrollment for the 2025 calendar year. This period is crucial for reviewing and selecting the benefits that best meet your needs. To help us better understand our options and what coverage is best, we are excited to have Kelly Brownell, a seasoned expert in open enrollment and employee benefits, on the show for this important episode.

Here’s some of what we discuss in this episode:

• Why open enrollment is important and what the open enrollment period allows you to do.
• Non-health insurance benefits to take a look at as an employee during open enrollment.
• Where you should go to get your questions about benefits addressed.
• Under what circumstances can you change your benefits mid-year?
• The future of employee benefit packages.

Connect with our guest: https://www.linkedin.com/in/kelly-brownell-28b182156

Contact:

If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

As summer winds down and the new school year approaches, now is the perfect time to consider your strategy for saving for your child’s college education. We all know that college isn’t getting any cheaper, so a proper financial plan is crucial in helping your child make this big commitment.

Join Todd and David as they explore key aspects of college financial planning. They provide practical advice on saving strategies, helping your child define their educational and career goals, understanding student loan options, and making the most of popular 529 plans. Tune in for valuable insights and tips!

Here’s some of what we discuss in this episode:

• Getting on the same page as a family when it comes to college
• Helping your child figure out their future goals
• Saving and paying for your children’s college education
• 529 plans as a savings vehicle for college
• Paying off school loans + FAFSA

Saving For College Website

https://www.savingforcollege.com/

Contact:

If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

We are excited to have Elder Law Attorney, Maureen Anderson, on the show with us today. She joins us to discuss the benefit of intergenerational conversations surrounding end-of-life planning and wealth transfer. Starting these conversations with your loved ones can be challenging, so we’re excited to have Maureen’s perspective and insights to help approach these topics as effectively as possible.

Tune in as Maureen explains why open and honest family discussions are crucial for future planning, and shares valuable tips to get these conversations started. These discussions should cover everything from wills and powers of attorney to healthcare directives and living wills. By addressing these topics early and revisiting them regularly, families can ensure that everyone is on the same page and prepared for whatever the future holds.

Here’s some of what we discuss in this episode:

• The scope of Maureen’s practice as a Certified Elder Law Attorney
• The importance of end-of-life planning and getting your documents in order
• Why it’s so important to have these conversations with family members as early as possible
• How you can start having these conversations with family members
• What you should talk about with your kids + when professionals should get involved

Contact:

If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

When you hear the word "insurance," what comes to mind? No matter how you feel about it, it's a complicated and often confusing topic for many. So, in this episode, we're going back to basics, breaking down different types of insurance and their roles in protecting your finances.

Listen in as we discuss auto, home, umbrella, disability, and life insurance. While insurance may not be the most thrilling topic, it's an essential component of a solid financial plan. We're here to arm you with the clarity and insights you need to navigate the world of insurance confidently!

Here’s some of what we discuss in this episode:

• The importance of auto and home insurance
• Understanding insurance coverage details like deductibles and liability
• The benefits of umbrella insurance
• How disability insurance works + assessing your coverage needs
• The various roles of life insurance

Contact:

If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

There’s no doubt that healthcare expenses are one of the biggest things you must plan for when it comes to retirement. Because of this, many want to know how Medicare will fit into their overall healthcare expenses. In today's show, David Lawrence is going to sit down with seasoned healthcare expert, Jim Long, to explore the intricacies of Medicare.

With 16 years of experience under his belt, Jim brings clarity to the often-confusing aspects of Medicare eligibility, enrollment, and plan selection. So, if you’re nearing retirement and feeling overwhelmed by Medicare options, tune in as David and Jim take it back to the basics. We hope you find this conversation helpful!

Here’s some of the questions that are answered in this episode:

• What is Medicare and how does it fit into retirement healthcare expenses?
• What are the eligibility requirements for Medicare enrollment and how far in advance should someone take action?
• What are the options for individuals retiring before the age of 65 to bridge to Medicare?
• What are the differences between Medicare Advantage and Medicare supplemental plans?
• How does Medicare drug coverage work alongside these plans?
• Do people have to renew their Medicare plans each year, and if so, when?
• Do all doctors and hospitals accept Medicare?

Learn more about Jim

https://www.yisonline.com/jim-long.html

Contact:

If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

In today’s episode, we’re going to take some time to focus on an often overlooked, but crucial aspect of retirement planning. While financial preparedness is undeniably important, there’s more to retirement readiness than just the numbers in your 401k. Stay tuned as Mark and Todd explore some of the non-financial elements that can significantly impact your retirement experience. 

During this conversation, the duo unpacks a Market Watch article that highlights the disparities between the expectations of pre-retirees and the actual experiences of retirees. They chat about the unexpected challenges retirees encounter during the transition from the workforce to retirement life and focus on the importance of social interaction, mental stimulation, and flexibility in retirement planning. Tune in for a great conversation on planning for a fulfilling post-work life

Here’s some of what we discuss in this episode:

• Having a strong social network in place as you approach retirement age
• Keeping your mind stimulated and creatively challenged in retirement
• Planning for unexpected events, such as health crises or caregiving responsibilities for aging parents
• Retirees often experience a longer adjustment period than expected

Contact:

If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

You’ve probably seen or heard the term “comprehensive financial planning” used pretty frequently in the financial space. But what exactly does this mean and entail? In today’s episode, we’re going to focus on what comprehensive planning means to us here at Kemp Harvest Financial Group. Stay tuned as we give you a quick overview of the five foundations that make up a comprehensive plan.

When thinking about these five “mini plans,” it helps to picture a Rubik's Cube. Each side represents a different facet of your financial life. The challenge is not just to address one side at a time but to consider the impact on the others with every twist and turn.

Here’s some of what we discuss in this episode:

• The income plan: the keystone in comprehensive financial planning
• The investment plan: allocating income toward future goals and making your money work hard for you
• The tax plan: only paying what you have to tax in taxes and assessing how they might change in the future
• The protection plan: preparing for the unexpected through insurance or other plans
• The estate plan: laying out your wishes clearly regarding your assets and healthcare decisions
• The ongoing process: revisiting and adjusting your plan as circumstances, goals, and external factors change over time

Contact:

If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

January often brings a wave of commitment to better money management, with many of us eager to make positive changes and set new money-related goals. With financial resolutions on many of our minds, we thought we’d take the time to explore some positive and negative aspects of common financial habits. Stay tuned as we discuss whether the “good” habits you’re considering are truly working in your favor.

Whether you're on a mission to pay off debt, build an emergency fund, or keep a strict budget this year, we’ll share our thoughts on finding a healthy balance when setting financial goals. Tune in for valuable advice and practical tips to ensure your financial resolutions align with your long-term success.

Here’s some of what we discuss in this episode:

• Ignoring your account statements can help avoid overreacting to short-term market fluctuations, but it also poses risks
• Keeping a strict budget is a wonderful way to stay on track for your goals, but it’s important to find a flow that works best for you
• While paying off debt early is a commendable financial goal, it’s important to talk with your advisor about your situation to ensure you aren’t missing out on opportunities for higher returns or tax advantages
• Building an emergency fund is important, but over funding it can lead to excess liquidity with lower returns compared to other investments
• In some cases, delaying financial decisions can lead to better outcomes if it means avoiding impulsive choices, but when patience turns into procrastination, it can harm your financial life

Contact:

If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

This week, we're thrilled to have Sue Derr, a seasoned budget coach from Crown Financial Ministries, on the show to explore the crucial topic of budgeting, just in time for the upcoming new year. With a background in budgeting that dates back over 30 years, Sue brings a wealth of experience and wisdom to the table.

Stay tuned as she shares incredible insights into the art of effective budgeting and financial stewardship. Discover how aligning your values with a thoughtful spending plan can pave the way to financial freedom and a purpose-driven life. Don't miss out on the valuable insights that Sue shares to empower your journey towards intentional and successful budgeting.

Here’s some of what we discuss in this episode:

• Sue’s background + the role budgeting has played in her life over the past 36 years
• Why is a budget so important and what are the advantages of having one?
• Some different ways to create and track a budget + tips for those getting started
• Some pros and cons of using technological tools for budgeting
• What does Sue do when spouses can’t agree on a budget?
• Adjusting your budget when your budget increases or decreases

Learn more about Sue:

https://www.linkedin.com/in/sue-derr/

https://www.crown.org/

Crown Financial Ministries’ MoneyLife Indicator:

https://www.crown.org/moneylifeindicator/

Crown Financial Ministries’ Personality ID

https://careerdirect.org/pid/start/name/

Contact:

If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

In today's episode, we're taking a close look at high-net-worth individuals - those who have accumulated significant wealth and face unique challenges and opportunities when planning for retirement. Unlike the average person, their financial considerations go beyond the basics. We'll explore the distinct strategies and factors that come into play when securing a comfortable and prosperous retirement.

Join us as we dive into the realm of taxes, estate planning, and various complexities that high-net-worth individuals need to be aware of when it comes to retirement planning. Mark and Todd will also debunk some common retirement planning myths surrounding this demographic and share why building a comprehensive financial team is so crucial.

Here’s some of what we discuss in this episode:

• What typically classifies a high-net-worth individual?
• What are common misconceptions commonly held by high-net-worth individuals regarding financial planning?
• Some of the complexities that arise in financial planning for high-net-worth individuals, including investments, taxes, and estate planning
• The importance of responsible spending and financial planning, regardless of wealth
• Why is it crucial for high-net-worth individuals to have a team of advisors, and who should be included in this team?

Contact:

If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/