Retirement Road Map

Financially speaking, 2022 has been a tough year. We've all been dealt a handful of lemons, the markets are in a uniquely difficult position, and your portfolio is likely down from the highs of 2021.

So, with all of that in mind, how can you turn your lemons into lemonade? Today, we're sharing some tips and strategies that we've been recommending to our clients to take advantage of the opportunities that exist before 2022 draws to a close.

If you're looking to improve on a difficult situation and position yourself for future success in the years to come, there are a number of things you should consider doing before the new year.

In this episode, we'll discuss how we landed in an extended bear market for the first time in 14 years, how diversification and tax loss harvesting can help to take advantage of what some see as a bad situation, and why long-term financial planning matters–regardless of what the market is doing.

In this podcast interview, you'll learn:

• How stimulus spending has led to a financial "detox" in the form of this bear market.
• How to use after tax and harvesting losses to reposition assets and bank yourself against future gains.
• When to meaningfully use Roth conversions to grow money at a substantial tax discount.
• Why you should still max out your retirement contributions where possible.
• Why retirees 65 and over need to review their Medicare coverage to avoid leaving money on the table.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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A personal relationship without trust is doomed to fail. And in business, it's no different. It's one of the things we take pride in at SHP because we know our clients trust us with more than their portfolio or retirement, it's their future, and it's a responsibility we don't take lightly.

Joining me to talk about the importance of trust in today's financial world is John Capuano. John is the co-founder of Lone Beacon, the nation's most sought-after sales and marketing company in the financial world. We've been working with John for over a decade to keep our finger on the pulse of retirees' habits, mindset, and thinking, and his research has always been fascinating.

In our conversation, John shares wisdom from his decades of experience as a marketer to talk about generation gaps in today's market, how to build trust in 2022, and what retirees really want to get from working with a financial advisor.

In this podcast interview, you'll learn:

• What John learned from talking to businesses running ads to the wrong audiences on the wrong networks.
• How retirees invest to purchase financial freedom and how important trust is before they make those decisions.
• Why authenticity and sincerity will always create engagement–and why John believes it can't be taught or marketed.
• Why John believes that business owners and their staff should treat clients like nervous fifth graders to maintain the relationship.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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When it comes to retirement planning, almost everyone knows about the danger of a market downturn or rampant inflation. But what else is out there that could set you back, and how can you best protect yourself?

To answer those questions, today we're joined by one of our Financial Advisors here at SHP, Joe Anderson. Joe has coached countless clients through tough financial challenges and helped them solve many complicated problems.

In this episode, we dig into why it's essential to create a tax plan as you head into retirement, the potential burdens of healthcare, and the tools you can use to protect yourself and your money in the years to come.

In this podcast interview, you'll learn:

• Why countless retirees end up with no plan to pay their income taxes.
• How Medicare premiums end up doing serious financial damage to retirement plans.
• How long-term care ends up becoming a huge financial liability for so many people.
• Products and tools you can use to shield your assets or cover gaps in the event of a health event.
• Why a financial plan helps you understand the unknown and make sense of the real risks you could be facing in retirement.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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As we head into Quarter 4 of 2022, Founding Partner Matt Peck, CFP®, CIMA®, will provide clarity when it comes to what is happening in the economy and how it will impact your retirement.

Market volatility. We’ve been hearing about it for what seems like forever now. And while we’d love to see continuous growth in our portfolios, in times like these, it feels like a yo-yo is painting the graph charts.

To help us better understand market behaviors, we’re thrilled to introduce you to one of our Financial Advisors here at SHP, Brian Roseman. Brian has been trading for over a decade. He’s celebrated big wins in the stock market, and also learned some hard lessons that he’ll be sharing with you today.

In this conversation, we get into how trading and market activities factor into your retirement plan. You’ll learn why investors make (and lose) money, how to avoid making mistakes that can put massive dents in your finances for years to come, and the critical components of a comprehensive financial plan.

In this podcast interview, you’ll learn:

• What causes movement in the market.
• Why no one is ever going to be able to consistently time the market to make more money.
• How market volatility should influence your portfolio and financial plan.
• What you can do to prevent making irrational decisions.
• How to create a financial plan that takes emotion out of your investing altogether and stop worrying about the markets, even on their worst days.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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When we see a prospective client for the first time, they often have a portfolio. However, they don't have a five-step plan. Even if they have a plan of some kind, they've rarely put much thought into health care planning.

The reason is simple: health care planning, and especially planning for long-term care, can be extremely complicated, expensive, and somewhat depressing. However, being proactive can save you huge sums of money later on–and give you the opportunity to enjoy your life to the fullest.

To discuss this topic, we're joined by Patrick Randall. Patrick is an advisor on the SHP team. He believes that financial planning is a continual process, and works with our team to provide clients with peace of mind as they transition through every stage of life. He earned his BS in Finance from Bentley University and his MS in Finance from McCallum Graduate School of Business, and is on track to become a Certified Financial Planner as well.

In this episode, we explore why you need more than just Medicare to cover your medical expenses in retirement, why you need long-term care planning no matter how healthy you are right now, and how to build a long-term care plan that allows you to mitigate risk, reduce your burden onto your family, and protect your assets and legacy as best as possible.

In this podcast interview, you'll learn:

• The six aspects of long-term care.
• Why women and people living alone are both more likely than men or couples to need long-term care.
• Why it can be very expensive to get on Medicaid.
• Why so many people believe their families will take care of them in the event of a health crisis–and why this scenario rarely plays out as anticipated.
• Why there's no one-size-fits-all solution to long-term care planning–and how to choose the investment vehicles best suited to your situation.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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For individuals with a pension, the decision to take or not to take a lump sum can be confusing. As interest rates rise, many plans could see a drop of 25-30% or more.

This could mean hundreds of thousands of dollars for some employees, and for many plans, this is very time sensitive.

Finding clarity on this subject isn't always easy. That's why we talk to people like today's guest, Michael Martinez. Michael is the president of the Pension Group, where he helps individuals make the most of their retirement.

In this podcast interview, you'll learn:

• How to retire with confidence when you have a pension.
• Who to reach out to so you can better understand the details of your pension.
• How the rising interest rates could impact your pension–and what to expect in the short and long-term.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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When you hear about CPI, data points, Federal Reserve minutes, and news reports pertaining to interest rates, how do you apply them to your life–and your portfolio?

Making sense of the Fed and what it does isn't easy. That's why we talk to people like today's guest, Andrew Opdyke. Andrew is a Senior Economist at First Trust, where he researches and studies the Fed and its actions.

In today's conversation, you'll learn what the Fed is trying to do to curb inflation (and whether or not it's working), the factors that led to a rampant inflation environment, and what we can expect to see our economy do, both locally and globally, in the years to come.

In this podcast interview, you'll learn:

• How we ended up with such extreme inflation over the last 2 years.
• Why the Fed is raising interest rates.
• How globalization and supply chain issues have shifted dramatically–and what to expect in the short and long-term.
• Why it's so easy to get caught up in economic downturns–and how to avoid making emotional decisions in the face of adversity.
• Why Andrew doesn't see a soft landing for our economy right now.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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When most folks come into our offices for the first time, they have a portfolio of mutual funds, stocks, bonds, annuities, cash, real estate, and other assets. What they don't have is a full financial plan.

At SHP, we have a team dedicated just to financial planning, and today's guest, Nick Nelson, leads that team. Nick joined SHP Financial in June 2016 after beginning his career with an independent financial planning firm in downtown Boston. He's a registered Financial Advisor, is Securities licensed, and he's motivated and passionate about making a difference in the everyday aspects of people's lives.

In today's conversation, Nick joins the podcast to talk about his financial planning process with new clients, the risk factors you should be thinking about as you approach retirement age, and the key components of a comprehensive financial plan designed to allow you to live comfortably into old age and protect your legacy.

In this podcast interview, you'll learn:

• How strong financial planning helped us add a million dollars of value to a client's portfolio.
• Why so many people are comfortable with not having a plan–and how this can negatively impact them sooner than later.
• The three worlds of money you can invest in in retirement.
• Why tax strategy is coming up more than ever–and how to manage your liability when investing in a 401(k), IRA, 403(b), or 457.
• The five key areas where retirees make critical mistakes when it comes to planning.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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In our industry, there's a saying: the two people in your life that you want to make sure are younger than you are your financial advisor and your doctor. After all, if you're 50 or 60 and working with a financial advisor who's the same age as you, guess what they're going to be doing in 5, 10, or 15 years? When you retire, they'll probably retire too!

To discuss this topic, we're thrilled to be chatting with Chase Reardon, who's in-house with us here at SHP Financial–and one of our younger advisors. He's passionate about getting to know his clients on a personal level and a financial level to help them retire successfully.

In this podcast, we discuss the advantages–logistical, technological, and otherwise–that come with working with a younger advisor. You'll learn about the unique mindset that younger advisors bring to our industry, how they're working to evolve the field, and several factors to consider as you build your retirement plan, no matter your (or your advisor's) age.

In this podcast interview, you'll learn:

• Why you may need a succession plan not just for yourself, but for your financial advisor, when you work with someone your age or older.
• How working with a younger advisor can give you access to new financial planning tools, including cloud-based modeling and risk analysis solutions.
• Why COVID, interest rates, and inflation have changed how younger advisors think about, approach, and build financial plans.
• How to ensure you'll have long-term continuity with your financial advisor.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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