Retirement Road Map

Here at SHP, we get so many questions about Social Security: when to claim it, how it works, and what might happen to it in the future, especially with how dysfunctional Congress has become.

As always, we're excited to welcome Mark Kenney, CFP, CTS, back on the podcast to get his thoughts on where things might be headed and how to plan for it.

In this conversation, we dig into the history of Social Security, the common challenges people face when it comes to taking it, and how Social Security factors into a comprehensive financial plan to help you meet your goals in retirement.

In this podcast interview, you'll learn:

• Why Social Security should never be your sole source of income.
• How to maximize your Social Security benefits–and what to consider as you decide when to take Social Security.
• How your Social Security benefit is calculated–and who's eligible to claim your Social Security after you die.
• What the Windfall Elimination Provision (WEP) penalty is and how it can impact your Social Security.
• Why Social Security must be fixed in the next ten years to ensure benefits for future generations.

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Whether you're retiring in five, 10, or 15 years, you need to be well prepared to retire–but other than your money, what exactly goes into a retirement plan? A lot of financial advisors will simply tell you "You made money. You lost money. Stay the course. That's the plan," even though that may not be what you want to hear.

So, with that in mind, what do you need to be doing each year, and what might you be missing? Today, Derek Gregoire and Matthew Peck of SHP set out to answer that question. We're talking about why your retirement plan shouldn't just be a bunch of 401(k)s, IRAs, and bank statements, why retirement and unemployment aren't that different, and the critical pieces of the retirement plan that are often overlooked.

In this podcast interview, you'll learn:

• Why you need to build a robust income plan to sustain you through retirement.
• The difference between a financial advisor and a fiduciary.
• How to create a sequence of returns risk to prevent disaster when unexpected expenses arise.
• How to quickly identify gaps in your retirement plan and fill in the necessary pieces in the puzzle.

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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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Anyone who has started their own company will tell you that there are many important decisions that dictate how successful your business will be. And today's guest is no different.

Matt Glynn was the proud owner of Glynn Electric for over 30 years, serving residents in Massachusetts, Rhode Island, and New Hampshire. At its peak, Glynn Electric employed over 250 people and had a reputation for delivering quality and reliable service for decades.

In today's episode, Matt Glynn shares the factors that led to decades of success and the legacy he left behind after exiting his business. You'll hear how his success may not have been possible without the help and support of his wife, how being a great judge of character when hiring staff was tremendously important, and his advice for new business owners who are on their own entrepreneurial journey.

In this podcast interview, you'll learn:

• The importance of being risk averse as a business owner.
• How having a supportive spouse/partner was instrumental in growing the business.
• How micromanagement can be a deterrent to growth in your business.
• Why it's critical to be a good judge of character when it comes to hiring staff with integrity.
• How Glynn Electric's education and training program was monumental in their growth and success.
• When a business owner should start thinking about an exit plan.
• The great work Matt is doing with the Joshua Glynn Memorial Foundation and the Boys & Girls Club in Plymouth.

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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 2023, it can be easy to get caught up in the political drama that we see in Washington D.C. Join us as we find clarity on the state of our market with SHP Financial Co-founder Matthew Peck, CFP®, CIMA®!

Once our clients start building their retirement plans, they realize that while they're probably going to be okay for income, several risk factors could derail their retirement, including healthcare and long-term care.

To help explain how life insurance and long-term care are a vital part of any retirement plan, we have SHP's J. Cawley on the podcast today.

In this episode, we dig into the changing state of long-term care and coverage, how to find long-term care that meets your specific needs, and how to have the important conversations with your team and loved ones to ensure you leave your legacy on your terms.

In this podcast interview, you'll learn:

• Why long-term care has historically been an afterthought for so many people and why that needs to change.
• How to choose hybrid long-term care vehicles to suit your potential needs.
• Why most people don't want to rely on families for end-of-life care–and why this care can get very expensive very quickly.
• The main reason why many wealth advisors don't talk about long-term care with their clients.
• Examples of how to structure your estate plan to reduce your risk and prevent long-term care costs from putting a huge dent in your portfolio.

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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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The last decade was pretty great for stocks. So many investors flourished under low inflation, low taxes, and low interest rates, and you can safely say that the bull run we just went through was historic.

However, we're now in a recessionary period marked by high inflation–and, just like bear markets of the past, we're going to get through this one, too. If you're nearing retirement, you might be a little concerned about the state of your portfolio, and today's episode was recorded with you in mind.

In this conversation, Derek and Matthew explore how politics and the financial markets of the past impacted each other, the parallels and similarities between what's happening now and what happened then, and what you should be doing now to prepare and plan for a better financial future.

In this podcast interview, you'll learn:

• Why it's easy to panic in the face of a seeming financial crisis when you don't know how the story ends.
• What makes this inflationary era both similar to and different from the economy under Jimmy Carter.
• What happened during the dot-com bubble, the Great Recession of 2008, and even the initial market shocks brought on by the COVID-19 pandemic–and why the solution to all these disasters was always the same.
• Why it's so important for your income and investment plans to match each other.
• When to start considering rolling your 401(k) over to an IRA–and why tax planning is so important at every age.

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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 well-organized financial plan is part of a well-organized lifestyle. If you can't find things in your home, you might not be able to find them in writing, either. We amass gadgets, clothes, documents, and so much else in life … so, what can we do about it?

To answer that question, we're thrilled to be talking with Mara Bangura. Mara is the owner of Green Earth Organizing, where she helps people, quite literally, get organized and declutter.

In this episode, Mara walks us through how she helps people respectfully part ways with all the stuff we amass in life, how to help friends and family declutter when a loved one passes, and how to apply these strategies both at home and at work.

In this podcast interview, you'll learn:

• How to give a second life to once-loved objects while also getting them out of your house.
• What it means to Death Clean–and the difference between legacies you do and don't want to leave.
• Why it's so important to go at your own pace–even if it means clearing out one room at a time.

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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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At SHP Financial, we provide income, investment, tax, health care, and estate planning and help build effective portfolios. Today's podcast is all about annuities. When they might make sense for you and when they wouldn't.

Annuities are a big buzzword lately. Some advisors love them, and others steer clear of recommending them. So we've written a Guide to Annuities and made it a free download on our website to improve your knowledge and comfort level of them.

With that in mind, we're joined by Joe Anderson. Joe's been a financial advisor at SHP since 2015 and is very well versed on the pros and cons of annuities. We dig into how annuities have become such a controversial investment tool, how to determine if annuities could be a good fit for you, and how to find the right products for your portfolio.

In this podcast interview, you'll learn:

• Why some financial advisors only sell annuities and why others rarely ever recommend them.
• The four major types of annuities and how they're typically used.
• The potential benefits–and major downsides–of using annuities.

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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 well-built health savings account (HSA) can be a powerful part of your retirement portfolio. But there are things that everyone should know to make sure they are maximizing the benefits and getting the most from these accounts.

With that in mind, we're not just calling in an expert. We're calling in Bill Stuart, author of HSAs: The Tax Perfect Retirement Account. He's one of the world's leading authorities on this topic, and his understanding of HSAs is truly on another level.

In today's conversation, we're talking about the tremendous tax benefits of HSAs, what makes these accounts "triple tax-free," who can use HSAs (and how to use one if you're eligible), and some basic strategies you can employ at any stage of life to invest for long-term success.

In this podcast interview, you'll learn:

• Why the HSA was created in 2004.
• The differences between HSAs and FSAs–and why the HSA is often much more valuable.
• What's covered by an HSA and what might disqualify you from using an HSA.
• How HSAs work if you're self-employed.
• What you need to know about rolling an HSA into an IRA or passing it on to your heirs.

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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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If you've invested money in the stock market over the past 10 or 15 years, you've likely felt stressed when looking at your portfolio's wild dips and swings. It's easy to feel like you can never make a good decision or overcorrect in the face of a drastic downturn.

This is why we're so fortunate to have William Malagodi on our team at SHP. He's our Director of Investment Operations and digs deep into money management so our clients can focus on living and dreaming.

In this conversation, you'll learn how William survived trial by fire joining the financial industry during the crisis of 2008, why it's so hard to be a DIY-er in today's economy, and the scrutiny and due diligence that goes into every transaction with client portfolio construction here at SHP.

In this podcast interview, you'll learn:

• The difference between a broker-dealer and a registered investment advisor.
• Why looking at a financial plan isn't just about investment assets–and how changes to the tax code and other laws impact clients' plans each and every year.
• What manager selection is and how it plays a role in portfolio construction.
• How we do due diligence when clients make investment requests.

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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