roadmap to RETIREMENT

During this very short episode of Roadmap to Retirement, I am joined for a third time by John Howe-Wemett, CFP®, MS to talk about the importance of staying the course with one’s investment strategy during market downturns. We emphasize the value financial advisors offer in preventing clients from making emotionally driven, poor financial decisions. The conversation covers key principles of investment management, including time horizon, liquidity needs, and risk tolerance. We also highlight the psychological aspects of investing, the importance of upfront risk tolerance discussions, and strategies to maintain discipline. John and I  agree that the primary value a financial advisor provides is in helping clients stay committed to their long-term investment plans.

On this episode of ‘Roadmap to Retirement’ I am joined by Hannah Cannon, an associate in the Trust and Estates department at Woods Oviatt Gilman. We discuss various aspects of estate planning with a specific focus on what to do if you don’t have an obvious beneficiary. The conversation covers options like charitable donations, setting up scholarship funds, 529 accounts for educational purposes, and the intricacies of gift taxes. Hannah and I also delve into the complexities of long-term care planning and the importance of having a power of attorney. The episode aims to provide insights into effective estate planning and maximizing the benefits for both individuals and charitable organizations.

In this episode of ‘Roadmap to Retirement,’ we have another Q&A with Marshal! We start by answering questions on Roth IRA conversions, explaining the timing, tax implications, and strategies during market downturns. Then moving onto answering questions like evaluating the benefits of buying annuities, the strategy of tax-loss harvesting, and the timing for claiming Social Security benefits. We dive into the pros and cons of making investment portfolios more aggressive, particularly in the current fluctuating market, and touch on strategies for handling Health Savings Accounts (HSAs). Throughout, we want to emphasize the importance of personalized financial planning and being cautious about so-called ‘guaranteed’ financial products.

If you have financial questions that you would like answered, please send them in, we love the feedback. Come back next week for another new episode! Thanks for listening.

In this episode of Roadmap to Retirement, please welcome Colin Miller to discuss various aspects of Medicare. Colin shares his journey from life insurance sales to becoming a Medicare expert and founding Medicare Plan Partners. We delve into the nuances of Medicare versus Medicaid, explaining the significant differences between the two. Key topics include the benefits and drawbacks of Original Medicare and Medicare Advantage plans, the importance of making informed choices at the start, and the implications of income on Medicare premiums. Colin and I also discuss common questions about transitioning from employer-sponsored insurance to Medicare and the appeal process for high-income premiums due to significant life changes. The episode concludes with practical advice on seeking professional guidance to avoid costly mistakes.

Come back next week for a new episode.

On this episode of Roadmap to Retirement, I am joined for a third time by Nick Savas, a financial advisor with me at SixPoint Financial Partners. We discuss the impact of political and economic uncertainties on retirement planning. We address common concerns from clients, including market volatility, the effects of political administrations on investments, and fears regarding changes to Social Security. Nick and I both want to emphasize the importance of understanding historical market trends and maintaining a diversified portfolio. Additionally, we attempt to tackle specific issues such as student loans and provide strategies for managing payments amid ongoing legislative changes. The episode aims to reassure listeners by highlighting that market fluctuations are normal and planning should be based on long-term goals rather than short-term fears.

If you would like to reach out to myself or Nick, you can find us on LinkedIn at:

www.linkedin.com/in/nerifinancial AND https://www.linkedin.com/in/nicholassavasricp/

Thank you for listening, come back next week for a new episode.

On this episode of Roadmap to Retirement, I am joined by  Ashley Quamme, a certified financial therapist and behavior specialist, to discuss the intersection of mental health and financial management. Ashley details her transition from being a marriage and family therapist to specializing in financial therapy, emphasizing the importance of understanding money dynamics in relationships. We explore how financial attitudes and behaviors are influenced by upbringing and experiences, the significance of communication and transparency about finances within couples, and the role of ‘money dates’ in fostering financial harmony. Ashley and I also discuss the importance of teaching children about money and financial responsibility, offering insights into how parents can prepare their kids for financial independence.

Thank you for listening, as always, come back next week for a new episode!

In this episode of Roadmap to Retirement Podcast, I am joined by Lucas Wennersten CFA, CFP®(Canada), CFP®(U.S.A.) of 49th Parallel Wealth Management to discuss the complexities of cross-border financial planning between the US and Canada. Lucas shares his journey from the mortgage business to becoming a Certified Financial Planner (CFP) specializing in cross-border financial planning, highlighting the unique challenges and strategies involved. We delve into topics such as the deemed disposition rules for Canadians moving to the US, tax implications for retirement accounts, gifting money across borders, inheritance rules for IRAs, and the healthcare systems of both countries. The discussion also touches on the sociopolitical landscape affecting cross-border relations and the interplay between physical health and financial health.

In this episode of the ‘Roadmap to Retirement’ podcast, this week, I am joined by Broc Buckles, co-owner of BC Brokerage, to talk about his journey in the financial planning and insurance industry. Broc shares insights from his early career experiences at Northwestern and the evolution of his business, which now serves over a thousand advisors nationwide by handling their insurance needs. We discuss the shift in financial advisors moving away from life insurance, the potential conflicts of interest within the industry, and the importance of transparency. Broc also talks about how his firm assists advisors by offering detailed insurance policy analyses and efficient client management systems.

Come back next week for a new episode, thanks for listening.

In this episode of the Roadmap to Retirement podcast, we are discussing tax planning strategies with CPA, Steven Jarvis. We cover the importance of proactive tax planning, especially for W2 employees nearing retirement, and delve into complex topics like backdoor Roth contributions and the implications of the Secure Act 2.0 on inherited IRAs. Jarvis highlights the necessity of understanding the tax impact of financial decisions and advises staying knowledgeable about relevant tax codes or hiring a specialist for complex issues. We also touch on the current shortage of financial advisors and CPAs, proposing better transparency and education about career paths. The discussion concludes with a look at potential changes in the tax landscape and emphasizes the significance of ongoing, small tax-saving actions for long-term benefits.

A must listen during this tax season. Come back next week for a new episode, thanks for listening!

In this episode of ‘Roadmap to Retirement’, I am joined by Matt Sommer from Janus Henderson Investors. We delve into protecting investors from sophisticated financial scams using AI and examples like the ‘grandparent scam’. We cover the psychology of investing, referencing Daniel Kahneman’s book ‘Thinking Fast and Slow’, and the role of financial advisors in helping clients navigate emotional decision-making. Matt also touches upon the implications of the 2017 Tax Cuts and Jobs Act set to expire in 2025, and recent changes in Social Security rules.

Thanks for listening and come back next week for another new episode!