On today’s Saving With Silverman podcast, Mark Silverman CFP® explains why your 401k is far from perfect as a retirement savings tool. This also applies to your 403b, TSP or 457 plans.

Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-29-watch-out-for-these-weaknesses-in-your-401k-plan 

What we discuss on this episode: 

1:00 – Administrative costs

2:10 – Mutual funds

3:34 – Limited asset classes

4:25 – Subpar conservative investments

The final decade of your working life is crucial to your success in retirement. We’ll explain why you need to know your numbers and how flexibility is key to winning with money.

Read more and get additional financial resources: https://silverman-associates.com/saving-with-silverman-podcast/ep-28-5-financial-tips-for-your-final-decade-of-work 

What we discuss on this episode: 

1:19 – What’s important?

2:44 – Knowing your numbers

4:40 – Estimate your income streams

6:37 – Health care

8:40 – Be flexible

Fewer and fewer companies are providing pensions these days. Unless you work for the government or a university, most people don’t have pensions. We’ll explain why they’re no longer very popular.

Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-27-what-are-pensions-and-why-are-they-not-as-popular 

What we discuss on this episode:

0:31 – Fewer companies providing pensions

1:21 – Lack of a pension

2:35 – Pension buyout

3:30 – Planning for inflation

Mutual funds have long been the most popular way for people to invest, but that landscape is changing. We’ll explain what mutual funds are and the different types. 

Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-26-mutual-funds-what-are-they-and-how-do-they-work 

What we discuss on this episode: 

1:22 – Clients with mutual funds

2:06 – Expense ratios

3:20 – Loaded mutual funds

5:20 – Tax issues

6:23 – Should mutual funds be eliminated?

7:23 – How often does Mark use mutual funds?

There’s a lot of confusion out there about annuities, probably because there are different types that do different things. We’ll explain what they are and how they work.

Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-25-what-are-annuities-and-how-do-they-work 

What we discuss on this episode: 

1:55 – Immediate annuity

3:25 – Fixed annuity

4:01 – Variable annuity

5:15 – Fixed index annuity

6:53 – Annuities Mark uses

8:03 – Using annuities to meet financial goals

This show is all about planning for retirement and making sure you’re doing it the right way so you can have the kind of retirement lifestyle you always dreamed of. Today we’ll share what the stages are.

Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-24-stages-of-retirement-planning 

What we discuss on this episode: 

1:30 – 15 years before retirement

3:13 – 10 years before retirement

5:16 – 5 years before retirement

7:21 – The day you retire

9:45 – 5-10 years after retirement

How much do you know about taxes in retirement? It’s an important topic that can make a major difference in your finances.

Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-23-what-to-know-about-taxes-in-retirement 

What we discuss on this episode: 

1:39 – Assuming taxes will be lower

2:52 – Strategies to improve taxes down the road

4:51 – Bad tax mistakes

6:02 – A tax planning strategy that made a difference

Does your financial advisor look at your tax returns? What about the fees in your investments? We’ll explain how your advisor should be helping you.

Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-22-things-your-financial-advisor-should-be-doing-for-you 

What we discuss on this episode:

0:57 – Reviewing tax returns

2:49 – Evaluating fees and costs in investments

4:00 – Discussing and planning retirement income

6:02 – Clarify target and goal for invested dollars

7:32 – Reviewing family goals and legacy plans

On today’s Saving With Silverman podcast, Mark shares some of his favorite and not-so-favorite financial stocking stuffers.

Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-21-would-you-like-these-financial-stocking-stuffers 

What we discuss on this show: 

0:45 – Variable annuity

2:02 – Apple stock

2:43 – High yield bonds

3:30 – Whole life insurance policy

5:08 – S&P 500 Index ETF

5:50 – Indexed annuity

7:40 – Long-term care insurance

On today’s Saving With Silverman podcast, Mark explains how to pick the right financial advisor. Find out why you should invest time in this crucial process.

Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-20-how-to-pick-the-right-financial-advisor 

What we discuss on this show:

1:52 – How to find the right advisor

4:37 - Warning signs

5:53 - When an advisor doesn’t fit you anymore

7:29 – Sticking with the wrong advisor for too long

9:12 - What to look for when choosing an advisor