Return on LifeStyle Podcast

Are your habits helping you shape your ideal retirement?

In this episode, Rey Descalso recommends four habits for new and soon-to-be retirees to master. This energetic conversation is dedicated to helping you create the retirement life you’ve been dreaming of. 

In this episode, you’ll learn:

What accountability means in this context

The benefits of having a fiduciary that you’re accountable to 

The importance of developing automation in your financial life

How lifelong learning contributes to the joy you can get out of retirement

What it means to have a legacy mindset and why you should plan for it

Tune in now to learn the four habits of highly effective retirees!

Resources:  Privada Wealth Management

 

How do 401(k)s work? Are Roth features available with 401(k)s? 

If you have these types of questions, tune in because Rey Descalso is bringing you all the answers. Long an enthusiast for helping people make sense of their planning, Rey shares tips on how to maximize your 401(k) and avoid three major pitfalls.

In this episode, you’ll learn:

How a 401(k) works and how you may benefit from having one

Why participating in your 401(k) can help you get out of the rat race

The difference between a simple IRA and an SEP IRA

Why it’s worthwhile to find out if your 401(k) has a Roth feature

What a target date fund is and why you should avoid it

About the pitfall of trying to beat the market 

And more!

Tune in now to learn about 401(k) pro-tips and pitfalls!

Resources:  Privada Wealth Management

Are you tricking yourself out of a happy retirement? How can you tell? It’s time to uncover the ultimate retirement scams, so you can dodge them! 

In today’s episode, Rey Descalso continues on from part one to discuss more of the flawed thinking patterns that derail people’s retirement plans. 

In this episode, you will learn:

How the Gambler’s Fallacy works

The meaning of the endowment effect

Why the need to belong can lead to getting caught up in the bandwagon effect

The importance of acknowledging your biases and getting a second opinion

Tune in for part two and learn how to avoid these retirement scams! 

Resources:  Privada Wealth Management | The ABCs of Power Spending| Episode 17 – Don’t Scam Yourself in Retirement: Part 1

You could be super savvy by avoiding all of the phone and emails scams in the world. But are you still falling for the ultimate retirement scam?

In today’s episode, Rey Descalso discusses the flawed thinking patterns that derail people’s retirement plans. Not stopping there, Rey explains how you can know if you’ve fallen into these thinking patterns, which he calls “cognitive biases” and “logical fallacies.”

In this episode, you’ll learn:

Which cognitive biases we tend to have while planning for retirement 

Examples of these cognitive biases in action

The importance of getting a second opinion when it comes to your retirement plan

Different ways the sunk cost fallacy can hurt you 

How Rey addresses difficult conversations with his clients to point out these biases

Tune into Part 1 and learn how to avoid the ultimate retirement scam!

Resources:  Privada Wealth Management

 

What comes to mind when you hear the words “power spending”? Do you imagine shopping sprees and splurging on the latest gear? If so, you might be in for a surprise!

In today’s episode, Rey Descalso breaks down exactly what power spending means and the different ways you can benefit from this practice. 

In this episode, you will learn:

The definition of power spending 

The ABCs of power spending

Why having mindfulness about where you spend your money is important

What makes budgeting a mindfulness activity

The role of gratitude in power spending

Tips for overcoming impulse buying habits

How a community of passionate people can facilitate power spending

And more!

Tune in now to learn what power spending is truly all about!

Resources:  Privada Wealth Management | The ABCs of Power Spending

 

The SECURE Act of 2019, a bill passed on May 23, 2019, by the United States House of Representatives, proposes significant changes that will surely affect current and future retirees.

In this episode, Rey Descalso examines The SECURE Act’s proposed changes and gives you his verdict for each one — will the change be good, bad, or ugly for retirees? 

In this episode, you’ll learn:

What a lifetime income choice is

How the increase in the required minimum distribution (RMD) age affects the amount of time an individual has to convert to a Roth IRA

The advantages to having the age limitations on IRA contributions removed

How new parents may benefit from a new distribution provision 

And more!

Tune in now to get a clear understanding of The SECURE Act’s proposed changes!

Resources:  Privada Wealth Management

 

Many people look forward to their retirement, only to be disappointed with the actual experience. But as you’ll learn today, finding balance in retirement can boost your feelings of satisfaction.

In this episode, Rey Descalso draws on his experiences with serving retirees to explain what causes dissatisfaction and how you can prepare for an enjoyable retirement.

In this episode, you’ll learn:

What balance in retirement means

What prevents people from enjoying retirement

The four ingredients needed to create a balanced retirement

The impact of the four Cs on an individual’s overall well-being in retirement

Tune in now and learn how you can enhance your life during your retirement years!

Resources:  Privada Wealth Management

 

What exactly are the risks involved in financial planning?

In this episode, Rey Descalso uncovers the risks that exist between you and your financial goals. They include areas such as retirement, estate planning, and investment management. He also shares how Privada Wealth Management helps each client navigate these risks.

In this episode, you’ll learn:

The meaning of risk tolerance

How Privada Wealth Management helps clients discover and understand their risk tolerance

The different types of risks involved in financial planning

How these risks can impact an individual’s retirement

The danger of underestimating the risk of longevity

What provisional income is

And more!

Tune in now to learn what these financial planning risks are and how to navigate them.

Resources:  Privada Wealth Management

 

In today’s episode, Rey Descalso introduces you to another member of the Privada Wealth Management team, Jared Coffin.

Listen in as they discuss Jared’s latest blog post, “Quotes: Free Advice Worth Listening to.” Jared offers his interpretation of financial quotes by influential figures like John Maynard Keynes and Peter Lynch and explains why they matter today.

In this episode, you’ll learn:

Jared’s inspiration behind joining the financial services industry

What a technical indicator does

The importance of technical analysis in financial planning

How technical indicators help in decision making in the stock market

Why John Maynard Keynes’ quote “Markets can remain irrational longer than you can remain solvent” is relevant today

And more!

Tune in to meet Jared and learn the role technical analysis plays in financial planning

Resources:  Privada Wealth Management | Quotes: Free Advice Worth Listening To

 

In today’s episode, Rey Descalso speaks with guest, Geoff Hoatson, about elder law and all that it entails. Geoff Hoatson is an elder law attorney and the founder and CEO of the Family First Firm in Central Florida. They have served hundreds of Central Florida families with their legal needs through all stages of life.

In this episode, you’ll learn:

What elder law is

Why Geoff Hoatson decided to become an elder law attorney

Common situations among people with Alzheimer’s, dementia, and diminished capacity

Relevant factors to consider when deciding to get Medicaid

The pros and cons of having a minor child as a contingent beneficiary in Medicaid planning

Tune in now to learn all about elder law and how you can plan for your long-term medical needs.

Resources:  Privada Wealth Management | Family First Firm