Secure Your Retirement

What questions do you have about social security? It is important to keep in mind that professionals at social security are instructed not to give you any form of advice. 

There are many factors to be considered when applying for social security for your retirement whether you want to do it before or after 70 years. These factors include age, sources of income, spousal benefits, and much more.

In this episode of the Secure Your Retirement podcast, we have Heather Schreiber, she’s a Retirement Income Certified Professional with 25 years of experience. She consults with and educates financial, tax and legal professionals using a holistic approach to retirement income planning.

Listen in to learn how to approach applying for social security and why you need a professional to help you navigate it. 

In this episode, find out:

• Factors that come into play when considering taking social security before or after 70.
• Understanding that your social security is likely going to be your pension.
• How sources of income affect different individuals when claiming social security early. 
• The benefits of a restricted application strategy and who can apply for it.
• Understanding how the spousal benefits work and their starting point.
• The importance of having someone help you navigate the social security aspect. 
• How retirement benefits for a dead spouse work and how to approach the process. 
• When and why a divorced spouse can file for spousal benefits from that relationship. 
• The different ways you can approach the social security application process. 

Tweetable Quotes:

• “The starting point is always regardless of when that higher wage earner files, fifty percent of the primary insurance amount.”- Heather Schreiber
• “Delayed retirement benefits earned by the higher-earning spouse are inherited by the surviving spouse.”- Heather Schreiber

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].

Have you ever asked yourself what would happen to your money if something happened to your advisor? This is a common and very legitimate question to ask.

It is important to keep in mind that nothing’s going to happen to your money, whether you’re working with independent advisors like us or a larger institution. Your money is housed by a custodian and will still be there if something does happen to your current advisor.

In this episode of the Secure Your Retirement podcast, we carefully explain the scenario that would occur if your advisor were to be “hit by a bus”. We cover how teams are set up to ensure there’s a continuity plan and the decision you’ll be needed to make as the client. 

In this episode, find out: 

• Understanding that your investment isn’t with your advisor but with a third-party custodian. 
• You’ll get a new advisor/team if your money is either under a large company or independent advisors.
• The decision you’ll have to make whether you want to work with the new advisor/team. 
• How to ensure that your philosophy and values align with the new advisor. 
• The scenarios that happen if your advisor were to retire. 

Tweetable Quotes:

• “If you have multiple advisors in one office and something happens to one of them, usually the philosophy is still the same.”- Murs Tariq
• “Ask your current advisor or new advisor what their continuity plan for their team is.” - Radon Stancil

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].

Have you thought of how your retirement is going to look like? Aging greatfully means having a plan for the financial, spiritual, personal, and entire details of your life after retirement.

When planning for an exciting, creative, and peaceful retirement, you also need to have an end-of-life plan. Planning for your end of life gives you peace and it also inspires your brand-new beginning.

In this episode of the Secure Your Retirement podcast, we have Holley Kelley talk about how she helps people plan for their life after retirement and end of life. Holley is a gerontologist, fellow in thanatology, positive aging practitioner, death planning change agent, and the founder of Latter-Life Planning Institute.

Listen in to learn how you can achieve peace by changing your retirement and end-of-life plans.

In this episode, find out:

·      Understanding the meaning of gerontology and thanatology.

·      How Holley got involved and comfortable in the fields of gerontology and thanatology.

·      Reinspire- being inspired towards action and something exciting and creative.

·      The financial things you need to consider when thinking about retirement.

·      Helping people overcome the challenge of figuring out who they are without their professions.

·      The 12 steps CREATED PEACE end of life planning tool kit.

·      The importance of planning for the end of life to achieve peace and change your life plan.

·      How to get your personal house in order, earlier to live in peace and good graces today.

·      Why Holley loves helping people rediscover peace and their child-like wonder.

Tweetable Quotes:

·      “We need to do what we can with what we have with where we’re at and really appreciate what we’re able to.”- Holley Kelley

·      “There’s no day of the week called someday; there’s today, and so planning for the end of life is something you don’t put off until someday.”- Holley Kelley

·      “There’s nothing you can’t do; it is only in your mind.”- Holley Kelley

Get in Touch with Coach Chris:

·      Website: https://www.latterlifeplanninginstitute.com/

·      LinkedIn: https://www.linkedin.com/in/gerontologist-holley-kelley-182377107/

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].

How does tax affect your non-IRA brokerage accounts? What if we told you that there’s a clean and better way for you to get tax deferral on your capital gains?

A strategy that works at a low cost and that gets rid of the annoying short-term capital gain problem. This strategy is by use of the variable annuity, which even though we have stated has more negatives than positives, in this case, is highly beneficial for your capital gains.

In this episode of the Secure Your Retirement podcast, we explain how you can get tax-deferred growth on your capital gains through a variable annuity. Listen in to learn how to smartly alleviate tax pain on your retirement plan strategy held in your non-IRA brokerage account.

In this episode, find out:

·      How a brokerage (non-qualified) account is taxed by dividends or interests sitting in cash.

·      Getting taxed through short-term capital gains at your ordinary income level.

·      The favorable long-term capital gain in a different tax category.

·      How to get tax-deferred growth on your capital gains through a variable annuity.

·      The huge positive of using a variable annuity for tax deferral even with its many negatives.

Tweetable Quotes:

·      “The act of selling a stock in a brokerage account, that is what is going to generate the taxable gain.”- Murs Tariq

·      “If I have a significant loss, that is far worse sometimes than paying the tax.”- Radon Stancil

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].

The pandemic has significantly slowed down and things are changing. What questions relating to your retirement planning do you have?

In this episode Secure Your Retirement, we tackle some questions on the changes that might occur in the future during our Wine Down. We cover questions on potential tax changes, Roth conversion, planning for a market correction, and inflation.

Listen in to understand why you need a plan and don’t need to necessarily rush before any concrete changes happen.

In this episode, find out:

·      The potential change in capital gains tax and its impact on you according to your income.

·      An increase in the tax rate on high-income earners.

·      Conversations on significantly lowering estate tax from the current $10 million.

·      Talks on adjusting co-spaces where beneficiaries have to pay taxes on the value increase of a property.

·      Why you should always look into Roth conversion, especially if you’re close to retirement.

·      Understanding how to convert or contribute money into a Roth account and its advantages.

·      Why you should have a plan in place for the pre-determined market correction.

·      How to strategize and shift into assets that will do good in inflation.

Tweetable Quotes:

·      “These are potentials, do not act on those potentials yet, let’s wait and see what they are.”- Radon Stancil

·      “If you make a lot of money, then you may not have the ability to contribute to a Roth account.”- Murs Tariq

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].

Now that you have decided to change your advisor, how then do you move to the next one? Moving from one advisor to another is a simple paperwork process that only takes days to be completed.  

You can move from one advisor to another within the same custodian, or you can move from both an advisor and a custodian at the same time.  

In this episode of the Secure Your Retirement podcast, we explain the processes of moving advisors and or both advisors and custodians. We also explain why your retirement planning investment won’t change in the moving process, plus the time it will take to complete the transfer.

In this episode, find out: 

• Recapping episode 90- why you would want to leave your original advisor.
• The simple process of transferring your account from one advisor to the next within the same custodian.
• The process of transferring your account and your advisor at the same time. 
• The paperwork process involved when moving your account from one custodian to the other.
• Understanding that your investments won’t change as you move accounts or advisors.
• How it works when transferring a 401(k) to a traditional IRA. 
• The same process applies if you manage your own money. 

Tweetable Quotes:

• “The transfer process of getting the securities from one custodian to another typically takes about 7-10 business days, which is standard across the financial world.”- Murs Tariq
• “You’re in control; you’re the owner of the account, so you don’t need to tell the current advisor you’re moving.”- Radon Stancil

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].

The 1st quarter of the year saw tremendous economic growth, but will the 2nd quarter continue the trend?

The economy has broadened in the past few months due to downtown representation and employment acceleration factors. But we still have higher demand than supply, inflation costs, and interest rates concerns.

In this episode of the Secure Your Retirement podcast, we have Andrew Opdyke, a Certified Financial Advisor, Economist at First Trust Advisor. Listen to Andrew as he explains how economic growth, employment, and inflation in the 2nd quarter will influence the federal government’s monetary policies decisions.

In this episode, find out:

·      The broadening up of the economy due to downtown representation.

·      The impact of employment acceleration in the 1st and 2nd quarters on the economy.

·      How the 2nd quarter economic growth will impact the rest of 2021 and the beginning of 2022.

·      How demand is outshining supply which is pushing off growth that could be happening now.

·      How the supply and demand mismatch factor is pushing inflation costs higher.

·      Why employment stability could lead to inflation costs increase in the long term.

·      Why the small and mid-sized companies will outperform due to global reopening.

·      Why monetary policies are going to remain accommodative unit around 2023.

·      Andrew’s personal economic predictions for the rest of 2021 and maybe early 2022.

Tweetable Quotes:

•   “The second half from an economic growth perspective has got a lot of fundamental tailwind behind it that will set to continue through the end of the year and into 2022.”- Andrew Opdyke
•  “The supply chain is still healing, it’s still fixing.”- Andrew Opdyke

Important Links:

LinkedIn: https://www.linkedin.com/in/andrewopdyke/

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].

Do you want to break up with your advisor, but you have no idea how to approach it? Breaking up with your advisor is not unusual, and there are different reasons why it can happen.  

It is important to keep in mind that no matter how long the relationship with your advisor has lasted, it is your money, and you have the right to do what is right. 

In this episode of the Secure Your Retirement podcast, we talk about the reasons why you may want to break up with your advisor and what to look for in the next one. We cover the importance of involving a holistic advisor to help you manage your retirement plan. 

In this episode, find out: 

• The importance of doing what’s right for you and being comfortable with your advisor.
• How life changes can drive you to want to change your advisor. 
• The advisor may change their philosophy to what doesn’t align with you.
• A few more reasons why you may want to break up with your advisor.
• How to look for an advisor who is a good communicator. 
• Look for a specialist advisor when you’re nearing retirement.
• Ensure that you and the advisor have a good mesh of personality.
• Find an advisor whose opinions align with your investment goals.
• Why you should find a holistic advisor who helps you with more than just a financial plan.
• How to make the process of breaking up very simple without overexplaining. 
• Why you don’t need to communicate with your advisor before breaking up with them. 

Tweetable Quotes:

• “If your advisor isn’t going to adapt to your life changes, maybe it’s time to find another advisor.”- Murs Tariq
• “If you’re close to or in retirement, you should work with somebody who focuses on that as a part of their practice.”- Radon Stancil

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].

Do you have a plan to buy or sell a property in a hot market? Understandably, that you may want to invest in real estate in a hot market as part of your retirement planning or sell to invest elsewhere. 

When consulting a realtor or a listing agent, you need to get clear with your needs to set the expectations and get through the process. 

In this episode of the Secure Your Retirement podcast, we have Renee Hillman talk about what it takes to buy or sell a property in a hot market like Raleigh. Renee is a real estate broker/realtor out of Raleigh and enjoys helping people find their dream homes. 

Listen in to understand the meaning of due diligence and how it applies in a hot real estate market. 

In this episode, find out:

• The state of the real estate market today for both buyers and sellers.
• The low inventory and high pressure on the real estate market in Raleigh. 
• The benefits of having a well-fixed and maintained house to have a competitive advantage.
• How realtors are educating both buyers and sellers where the current market stands. 
• Why due diligence has become important in Raleigh’s real estate market. 
• Understanding the property listing and appraisal in today’s market. 
• Why you should first contact a local real estate expert to understand your market. 

Tweetable Quotes:

• “Due diligence is the money seller gets to keep should you ever back out of the deal for any reason whatsoever.”
• “A listing agent isn’t able to disclose any terms on an offer.”

Get in Touch with Coach Chris:

• Website: https://hregsells.com/ 
• LinkedIn: https://www.linkedin.com/in/reneesells/ 

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

 To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].

What should you have on your retirement planning team?

We believe that your retirement planning should be a team environment to give you that peace of mind that you want. A financial plan is crucial for your retirement plan, but in addition, there are other things that you need to be in place. 

In this episode of the Secure Your Retirement podcast, we cover why you need to have a team approach when it comes to your retirement planning. We also cover the difference between a holistic financial advisor and a money manager, plus what goes beyond your retirement financial plan. 

In this episode, find out:

• Understanding how it’s like delegating your retirement plan to advisors (money managers). 
• The difference between a ‘money manager’ advisor and a holistic financial advisor.
• The importance of having a retirement financial plan.
• Why you should have a tax advisor plus how we handle that aspect.
• The importance of estate planning for your beneficiaries and how we handle it. 
• How we handle social security for our clients. 

Tweetable Quotes:

• “Whether you’re working with a money manager or a holistic approach type of financial advisor, there are pros and cons to everything.”- Murs Tariq
• “The foundation of the financial side is having a comprehensive retirement financial plan.”- Radon Stancil 

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].