Secure Your Retirement

How do you like the Secure Your Retirement podcast so far? How has this podcast impacted your financial knowledge since you started listening?

It’s been a year for us since we started this podcast, and we can’t help but be thankful for what it has become. We started with the purpose of educating you about finances and retirement planning, but we became even bigger and better.

In this episode, we reflect on the year it has been since we started and all that we have accomplished together. We cover how you can be part of this Wine Down episode, or you can help us make the show even better for you. 

In this episode, find out:

• Why we started this podcast for educational purposes and how we approached it.
• How we planned our interview style and covering topics shows to make the podcast effective.
• The purpose of our opening disclosure.
• The purpose of our wine down episodes and how you can become part of it. 
• How your questions become a library of resources that we can tap into in the future. 
• Do you have any advice you’d like to share with us? Help us and be part of the show.

Tweetable Quotes:

• “We really want to make this show continue to be what is effective.”- Radon Stancil
• “The best part about it, is getting some good feedback.”- 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].

Has the question of “How Do Financial Advisors Get Paid?” ever crossed your mind? This is a very important question to ask your financial advisor or the one you intend on hiring. 

There are three ways through which financial advisors get paid; commission, fee-only, and fee-based. You need to get that information upfront as the client to understand how things work. 

Which of the three is the best payment method? How does each affect you as the client?

In this episode of the Secure Your Retirement podcast, we’re helping you understand the different ways financial advisors get paid. We cover the importance of researching to understand why and how you will be paying the person managing your retirement plan.

In this episode, find out:

• How commission works plus legitimate products that are commissionable 
• How the insurance industry pays financial advisors on commission 
• How an advisor receives payments from the different types of mutual funds 
• Always ask how the advisor will get paid from any commissionable-type product you purchase
• How advisors get paid from Real-estate Investment Trust (RIT)
• Why the regulations in the financial services industry cannot change to give you a better rate
• How the fee-only method works and the three categories it operates in
• How fee-based works as a combination of both fee-only and commission-based
• The fiduciary plus his/her role in taking care of the client

Tweetable Quotes:

• “Once you decide to enter into a mutual fund or any commissionable-type product, be sure you do your research and ask the question.” - Murs Tariq
• “If you’re working with a fee-based or even a fee-only advisor, any time there’s a conflict of interest, they have to disclose it.” - 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 ever heard of the term ‘Medicaid’ or ‘Medicaid Planning’? And do you qualify for it?

As you start to approach age 65, you should more and more be thinking of Medicaid Planning. Medicaid is a government medical care insurance for people who need assistance and is limited to people who are 65 years and above or are disabled.

It is important that as you plan your retirement, you do Medicaid planning to ensure that your long-term care is fully catered to. Medicaid is different from Medicare and is very limited in terms of who qualifies for it. 

In this episode of the Secure Your Retirement podcast, we invited Kevin Huston to help us understand who qualifies for Medicaid and the different planning strategies to qualify. Kevin Huston is an attorney specializing in this area and the founder of Carolina Estate Counsel- an Estate and Elder Law planning firm.

In this episode, find out:

• Understanding Medicaid and who qualifies for it
• The difference between Medicare and Medicaid on who and what they cover 
• The meaning of Medicaid planning and how to effectively plan for it 
• The different strategies you can do crisis planning to qualify for Medicaid 
• Understanding the Medicaid Compliant Annuities 
• Why you’re never too young to think about Medicaid planning
• The downside of giving away your assets for Medicaid 

Tweetable Quotes:

• “Medicaid planning is most effectively done if you plan ahead of time.”- Kevin Huston 
• “If you give away assets, you’re sheltering them from Medicaid, but the downside is that you’re giving away control of your assets.”- Kevin Huston

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 do you protect your investment from possible investment fraudsters, A.K.A Bernie Madoff? 

We’re sure that the last thing you want is getting ripped off your investment that you’ve probably set aside as your retirement plan, right? It is very important that you be extra careful when approaching an advisor to protect your money and future. Keep in mind that the role of your advisor is to administer things for you, not create them.

In this episode of the Secure Your Retirement podcast, we talk about the different things you can do to ensure that your advisor is legitimate. We cover your advisor’s dos and the don’ts and the red flags to look out for a Bernie Madoff.  

In this episode, find out:

• A legitimate advisor has a third party as an oversight/ custodian 
• Understanding that the custodian creates the investment statements, not the advisor 
• Why you should have access and control over your third-party account 
• Why your advisor should only administer your account not create anything
• How to make sure your advisor is rightly and legitimately licensed and registered
• How to safely transfer money from your accounts 
• How to check the ADV form to know more about the advisor’s entity

Tweetable Quotes:

• “Make sure that whomever you’re working with, first thing is that they’re licensed.”- Radon Stancil
• “You should never be writing a cheque to the investment company; you’re going to be writing it to the custodian.”- 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].

Has the thought of having a trust ever crossed your mind? But do you really need a trust? 

It is important to understand the different reasons why you might need to set up a trust for your children. The purpose of a trust is to protect your children’s inheritance until they’re in a better position to receive it.

When planning your retirement or thinking in the unfortunate case, your death, consider setting up a trust for your children. It is different from a will and more optional but might be what you need. 

In this episode of the Secure Your Retirement podcast, we have Chess Griffin to discuss the different types of trusts and the reasons why you may or may not need them. Chess Griffin is a well-known estate planning attorney who is very knowledgeable about trusts. 

In this episode, find out:

• A trust- allowing someone to hold assets for yet another person
• The scenarios where you might need to consider a trust 
• The meaning of the common revocable living trusts and their functions
• Why people might consider setting up irrevocable trusts
• The meaning of a will and its difference from a trust 
• How to avoid probate by creating a trust plus its pros and cons
• The reasons why you might not need to set up a trust 
• The purpose of an official and unofficial special needs trust 

Tweetable Quotes:

• “A trust is a way to extend the estate plan beyond death and make sure it does what you ultimately want.”- Chess Griffin
• “The revocable living trust is the standard type of document we implement.”- Chess Griffin

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].

You’ve probably heard of a variable annuity but don’t know how it works or earns money, right?  

A variable annuity is an investment account where your earnings vary based on the type of investment you have. But what’s really the purpose of having a variable annuity? Is it a good way to invest as part of your retirement plan?

In this episode of the Secure Your Retirement podcast, we educate you on how variable annuity works and if it makes sense for you. We share the pros and cons to keep in mind before considering variable annuity as an investment option for you.

In this episode, find out:

• How immediate and fixed annuities work and the two types of a fixed annuity 
• Understanding variable annuity and how it varies according to your investment structure
• How variable annuity limits your investment choices around the insurance company
• Why you’re subject to market risk with the variable annuity
• Why you should be aware of the variable annuity fees and their functions
• Why tax deferral advantages should be the only reason you use a variable annuity

Tweetable Quotes:

• “Your account is the variable annuity and then your sub-accounts are the investments within the variable annuity.”- Murs Tariq
• “If I have somebody who has a sizable amount of money that’s not in an IRA and they don’t want to the pay taxes each year on their earnings, they could use a variable annuity.”- 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].

How good are you at grilling your steak? Because even as you’re planning for a secure retirement, a juicy steak shouldn’t miss from your table regularly. 

Whether you like your steak rare, medium-rare, or well done, we all want it juicy and delicious. But somehow when we do it at home, we either overcook it, make it too hard, or let all the juice get lost on the cutting board, right? That’s why on the show today, we invited Dean Ogan of Rocky Top Catering to share his golden tips on how to grill a perfectly cooked and juicy steak.

Dean Ogan owns and operates Rocky Top Catering in Raleigh and has 20+ years of industry experience. He shares his tips on grilling the perfect steak and his favorite grilling recipe. He also shares how Rocky Top Catering survived the pandemic, with the hospitality industry being one of the most hit. 

In this episode, find out:

• Dean's on how they transitioned from a restaurant company to large-scale catering
• Golden tips on how to grill a juicy and perfectly cooked steak 
• Some secret ingredients and steps to Dean’s favorite grilling recipe 
• Why Dean thinks the air frier can’t undo ‘real’ fried food
• The types of knives you should have in your kitchen 
• Tips on how to keep your knives rightly sharp 
• The food distribution initiative that Rocky Top Catering adopted during the pandemic 

Tweetable Quotes:

• “That’s what’s grilling is all about; it’s all about getting a little bit of char on your meat.”- Dean 
• “Don’t be afraid to use a meat thermometer; having a really good meat thermometer in your utensil drawer is really important.”- Dean
• “You can always cook your steak more, but you can’t cook it less.”- Dean
• “Knives are tools and you need different tools for different applications.”- Dean 

Important Links & Mentions:

Rocky Top Catering Website  

Resources:

If you want more information about preparing your finances for the future or retirement, check out our complimentary Master Class, ‘3 Steps to Secure Your Retirement’. 

In this class, we teach you the steps you need to take to secure your dream retirement. Get the complimentary Master Class here.

Have you been thinking “I’ve been saving and I’d like to leave some money behind.”? But then you’re confused on the process to follow with the different types of accounts you have?

It is important to be educated on the different ways you can include the next generation in your money accounts even as you’re doing your retirement planning.

But what is the process of including them? What is the best and easiest way to do that without burdening your beneficiaries?

In this episode of the Secure Your Retirement podcast, we’re talking about all things “leaving money to the next generation”. We cover how to add your beneficiaries to your IRAs and 401(k)s accounts, the tax benefit this offers, and how to leave tax-free money behind.

In this episode, find out:

·        How to add your beneficiary to your IRA and or 401(k) account

·        How to add as many beneficiaries as you can to your other bank accounts

·        The tax benefit of listing primary and contingent beneficiaries to your IRAs and 401(k)s

·        How to add a beneficiary designation to your brokerage account to make the process easier

·        How to leave tax free money behind through life insurance and Roth IRAs

·        Understanding the per stirpes and per capita terms in the beneficiary form

Tweetable Quotes:

“Have a good tab on how you want to leave your money behind, who you want to leave it to, and where are these accounts at.”- Murs Tariq

“You want to make sure you have all your beneficiaries listed because it could be a huge tax benefit in particular to IRAs and 401(k)s.”- Radon Stancil

Resources:

If you want more information about preparing your finances for the future or retirement, check out our complimentary Master Class, ‘3 Steps to Secure Your Retirement’. 

In this class, we teach you the steps you need to take to secure your dream retirement. Get the complimentary Master Class here.

When it comes to investment planning, retirement planning, and financial planning in general, how do you do it?

You could do all the research and do everything yourself, which takes a lot of time and effort. You could also find a financial advisor to walk you through everything and make sure you stay on track. Some financial coaches serve as your sounding board to help you think of other finance and investment ideas.

To find out more about investments and retirement planning, we have invited Vix Munro to join us in this episode. She shares tips, especially for women to create and build wealth.

In this episode, find out:

●       How to financially empower women around the world

●       The difference between a financial coach and wealth coach

●       How to manage money and create and build wealth

●       Vix's consultation steps to start working together

●       The financial plan to achieve

●       The concept of cryptocurrency

Tweetable Quotes:

"Women have particular needs for refinances. We have a gender pay gap, but we also actually have a gender investment game." – Vix Munro

"’Money doesn't grow on trees’ and you've got to work really hard to earn money.” – Vix Munro

Important Links & Mentions:

Website: https://moneybadassary.com/

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].

Paying off your mortgage is more than just a financial decision. It can be an emotional one too.

Perhaps it’s one of your long-term goals to live mortgage-free or you want to go into retirement without the burden of large monthly payments. Whatever your motivation is, it’s best to find out the best way to tackle this financially before you make a decision.

In this episode, we share the key things you need to think about when it comes to paying off your mortgage. We also discuss the importance of cash flow and how opening a home equity line of credit could be the solution you’re looking for.

In this episode find out:

• Which savings account is best to use for paying off your mortgage
• Why cash flow is king in retirement
• What to consider when thinking about investing vs. paying off your mortgage
• When to think about refinancing
• What to do when paying off your mortgage will wipe out your savings
• When to open a home equity line of credit

Tweetable Quotes:

“It is nice not to have a mortgage, but sometimes it doesn't make sense for everyone” – Murs Tariq

“Paying off your mortgage isn’t just an emotional decision” – Radon Stancil

Important Links & Mentions:

• Peace of Mind Wealth Management blog
• Book your complimentary call

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].