Retirement Plain & Simple

When you do a jigsaw puzzle with your family you probably start off with a strategy. You are going to look at the big picture, organize your pieces, and decide where to start. Approaching our retirement plan, in the same way, can be helpful. What is the big picture of the puzzle? What is the big picture in your retirement plan? The framework of the puzzle is like the framework of your plan, your income strategy.

Maybe you also sort the pieces of the puzzle. In your plan, you'll want to sort investments, insurance, and the rest. How does your 401(k), Roth, life insurance, etc. work together? What are your end goals? On today's episode, we will go through this analogy and expand on how retirement planning can be as easy as a jigsaw puzzle.

What we discuss:

0:37 – Are you a fan of puzzles?

1:54 – Look at the big picture

8:46 – Build a framework.

11:42 – Sort by color

20:36 – Have the end game in mind

Contact:

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

We don't hear unreasonable requests very often, but it's still important to manage expectations. On today's episode, we will be discussing 4 requests either we have heard or other advisors have heard that are a bit too unreasonable to expect. We will be discussing risk, reducing fees, taxes, and the importance of being involved in the planning process. We want to be as transparent with you as we can. That way you know what to expect from an advisor and what kind of financial outcome is reasonable for you and your future.

What we discuss:

0:56 – Unreasonable requests

3:41 – Can I get better returns without taking more risk on?

12:08 – Can you reduce your fees for me?

16:46 – How can I avoid taxes on my 401(k) or IRA?

21:20 – Can you just do it for me?

Contact:

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

Have some questions about retirement? Let's open up the mailbag and answer some of these questions. On today's show, we will be going over 6 financial topics our listeners are curious about.

Can you use a home equity line as an emergency fund? Long-term care coverage premiums are going up, should you keep your insurance? How often should you meet with an advisor? We'll be covering these topics as well as what to do when you disagree with your spouse about retirement and the importance of getting your parents to meet with an advisor.

What we discuss:

1:24 – Can I use my home equity line of credit for emergencies?

5:49 – I never hear from my financial advisor, should I be bothered?

9:14 – Is there a way to convince my husband we can retire?

13:43 – Am I better off selling my business or retaining ownership?

17:34 – Should we cancel our long-term care insurance?

21:50 – How should I help my mom with investments?

Contact:

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

Sometimes we can get overconfident in our financial planning. This type of overconfidence can create blind spots in our financial plan. On today's episode, we are going to cover 5 areas people tend to become overconfident in when it comes to the financial world, so you can stay level-headed.

We'll talk about the stock market, dollar figure goals, rules of thumb, financial understanding, and decision-making. So, what can you do to mitigate the negative impacts of overconfidence? Meeting with an advisor can certainly help give you a fresh view of your financial choices.

What we discuss:

1:08 – Pride

2:18 – Stock market

6:34 – Dollar figure

9:20 – Rules of thumb

13:57 – Understanding

16:30 – Decision Making

Contact:

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

It can be tempting to procrastinate and to figure things out later. But putting certain things off in our finances can really affect our retirement plan. On today's episode, we are going to discuss 5 things that people either want to wait on or have questions about putting off. Writing a will, paying off debt, cashing in on Social Security, are all things that we can technically wait to address later, but should we?

What we discuss:

0:40 – Putting things off

1:51 – Deferring taxes

6:46 – Eliminating debt

10:48 – Updating legal documents

15:02 – Delaying Social Security

17:46 – Setting up your retirement plan

Contact:

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

Today we are going to consider three red flags to watch out for in your retirement plan. There is a lot to keep track of when it comes to our finances so let's highlight three areas of importance. How often should we meet with our advisors? Is my retirement plan adaptable? We don't know what will happen in the future, but if we keep an eye out for these red flags we will be better prepared.

What we discuss on this episode:

0:44 – Considering some red flags

1:17 – How often you meet with your financial advisor

5:22 – Knowing how much you need for retirement

11:26 – Can you describe your retirement plan?

Contact:

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

Every retiree will be facing a new set of challenges that their parents didn't have to deal with, and that's absolutely true today. The world is a much different place than it was 20-30 years ago when mom and dad walked away from their paycheck. Let's look at the biggest adjustments that have to be made in planning and share how we're helping people accomplish that.

What we discuss on this episode:

1:52 – It's okay to work past 65

8:05 – Retirement might be more expensive than when you're working

11:04 – More to juggle than previous generations

15:24 – Portfolios need to account for longevity

Contact:

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

At first glance, each of the statements we'll go through today seems like basic common sense that everyone would agree with. But when we look at the way people actually behave with their money, it would seem that common sense is a bit uncommon. Let's discuss these strategies and why we often struggle to stick to them.

What we discuss on this episode:

2:07 – Buy low, sell high

4:40 – Two real-life stories

12:18 – Keep costs low

17:01 – Not paying more in taxes than you have to

18:37 – Don't put all your eggs into one basket

Contact:

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

Few things in the financial world are as polarizing as annuities, but when used correctly, they can be a great tool for a retirement plan. Let's try to sort through the different annuity options and explain what's to like and what's to dislike about these sources of retirement income.

What we discuss on this episode:

0:35 – Background on this topic

2:59 – First type of annuity

4:56 – Second type of annuity

7:20 – Third type of annuity

10:17 – Good news/bad news

11:08 –Reasons to buy variable or fixed index annuity

13:43 – Annuities that provide guarantee

16:42 – What to do if you're not sure

17:57 – How we handle annuities

Contact:

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

What we discuss on this episode:

0:42 - Why we are talking about this today.

1:41 - Chemistry

2:03 - Will you care enough to tell me the truth?

3:01 - Client story

5:54 - Character

10:12 - Ask them how they get paid

12:32 - Designations and experience

Contact:

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