Secure Your Retirement

Is a reverse mortgage right for you?

If you’re retired or headed towards retirement and thinking about buying a property, a reverse mortgage could be the answer you’re looking for. A reverse mortgage is essentially a mortgage loan that allows the borrower to access the property’s unencumbered value. Unlike typical mortgage loans, reverse mortgage loans typically do not require monthly mortgage payments and are usually offered to older homeowners.

We get asked about reverse mortgages all the time, which is why we invited Ron Heath onto this episode of the podcast. Ron is an expert in reverse mortgages with over 13 years of experience in the reverse mortgage field. In this episode, he shares his thoughts on reverse mortgages and how they can help you in retirement.

In this episode find out:

• Why Ron is passionate about reverse mortgages
• The difference between traditional mortgages and reverse mortgages
• How to access the equity in your home with a reverse mortgage
• How home equity differs from reverse mortgages
• Reasons why a reverse mortgage is beneficial for people in retirement
• A step-by-step walkthrough of how a reverse mortgage works
• How to transition from one house to a new house
• How a reverse mortgage works in terms of inheritance and how it impacts heirs
• How a reverse mortgage can be used for anyone considering this route with investments in the stock market
• Common misconceptions around reverse mortgages
• How to learn more about reverse mortgages and get the ball rolling
• Why counseling sessions are important during the reverse mortgage process

Tweetable Quotes:

“There's no payment obligation associated with a reverse mortgage.”

“Counsellors have been mandated not to offer an opinion. Their whole role is to educate.”

“A reverse mortgage line of credit can never be frozen. It can never be reduced; it can never be canceled, unless the borrower is not meeting their obligations.”

Important Links & Mentions

Ron Heath’s website: https://mutualraleigh.com/

Ron’s phone number: 919-412-0686

Ron’s email address: [email protected]

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 http://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]

Are you planning to invest during retirement?

If so, you’re probably debating whether you should choose the buy and hold investment strategy or active management. There are pros and cons to both, and in this episode of the Retirement in Action podcast, we take you through active management vs. passive management to help you make the best decision for your circumstances and your retirement plan.

We’ll also discuss investing for retirement in volatile markets, which is extremely important for anyone getting closer to retirement or already retired.

In this episode find out:

• What the buy and hold investment strategy is and how it works
• What active management is and how it differs to buy and hold
• How to protect yourself from significant downturns
• How to invest and deal with volatile markets
• Why active management is the best investment strategy in volatile markets

Tweetable Quotes:

“When it falls, the market is like going down an elevator. Going back up is like riding an escalator – it’s a much longer process.”

“The beauty of cash is cash doesn’t move; it just moves relative to everything else.”

“Whenever the market is in demand, we will participate. When it's not in demand, we will not participate.”

Important Links & Mentions

·        4 Steps to Secure Your Retirement

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 http://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]

We’re very excited to bring you this special episode of our Wine Down Show from the Secure Your Retirement podcast. We sit down with real individuals and listeners of the podcast to talk about multiple topics from previous episodes… all while enjoying a glass of wine! What can be better than that?

In this episode, we started with two special guests, Lynn Senior and Fran Martin, but due to technical difficulties, Lynn was unable to join us for a large part of the conversation. Nonetheless, Fran took the torch and led the way in what has been one of my favorite episodes of the Wine Down Show so far.

We discuss everything from Medicare to navigating taxes, transitioning from corporate to self-employed (and semi-retirement), and Fran shares some wise words that she would tell her 20-year-old self. It’s a wonderful conversation packed with beneficial insights that will help anyone who is in retirement or preparing to make that transition very soon.

So, let’s take some time to sit down with a glass of wine (or beverage of your choice) and listen to some fantastic insights. 

In this episode, find out:

• Why recent events in the world have made Fran want to discuss finances and money management with her family
• The limitations of 401(k) and asset allocation
• What Fran thinks about Medicare and why she finds it so confusing to navigate
• What Fran’s overall experience was like when she signed up for Medicare
• Why you should seek guidance for Medicare as you approach 65
• What Fran learned about taxes from our interview with Tom Turner
• How a CPA can help you save money on taxes
• What Fran wishes she did differently in her early 20’s knowing what she knows now
• Transitioning from a corporate role to self-employed and semi-retired

Tweetable Quotes:

“I think it's a great thing to have someone help you navigate Medicare.”

“I have my own business now, and I'm retired too. So, the tax CPA that I use is really helping me to invest some of that money and put it into retirement.”

“Pay attention to money management because it makes a difference.”

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 know how tax could affect your retirement plans?

When planning for your retirement, it's important to consider how tax can impact your financial future.

In the previous episode of the podcast, Tom helped us define some common tax terms and gave some fantastic advice on managing your tax before and after retirement. In this follow-up episode, Radon, Murs, and Morgan talk about putting CPA Tom Turner's tax and retirement advice into action. We break down how tax can affect your retirement income plan's different assets, so you know what to expect as you move towards retirement.

In this episode, find out:

• How tax brackets apply to your retirement income plan
• The tax differences between your primary home and your vacation home
• What stock dividends are and how they’re taxed
• The issue with mutual fund dividends
• Why you shouldn’t rely on dividends as part of your retirement income plan
• When you should start taking your Social Security
• How required minimum distributions and charitable donations factor into your retirement income plan

If you're enjoying this podcast, please subscribe and share it with your friends and family!

Tweetable Quotes:

“We've changed minds on the right the right way to take Social Security because of how we look at it.”

“You can take a portion or even all of your RMD and give that to a charity and it's now tax-free.”

“We encourage all of you, any of you that are within ten years of retirement, or already in retirement, to make sure you have a written income plan.”

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, visit http://pomwealth.net/podcast

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

As you begin to plan for your retirement, you may be wondering how tax could impact your finances and how to factor it into your retirement planning strategy.

We were delighted to invite Tom Turner, CPA, and Partner at Heroux & Company, LLP, onto the podcast and get his expert insights on this complex subject.

In this episode, we leverage Tom's 20 years of experience to break down how tax will affect your retirement plans. Tom defines some of the commonly used tax terms and simplifies some of the more confusing tax aspects and how they apply to your assets. 

In this episode, find out:

• What tax brackets there are and how a marginal tax structure works
• How retirement contributions can help lower the amount of tax you pay
• How tax comes into play when selling a property
• How stock dividends get taxed
• Why you don't need to put assets in an IRA on your tax return
• The benefits of working with a CPA over a "TurboTax" solution
• How your Social Security is taxed and what happens if you take it early
• What a Roth conversion is and how it could affect your Social Security taxes 
• How to make tax-smart qualified charitable distributions

Tweetable Quotes:

“We're in a tax bracket structure that's marginal. The more you make, the more you pay.” – Tom Turner

“Managing your capital gains can make a big difference on your taxes.” – Tom Turner

“The beauty of putting money into retirement is that it grows tax-free.” – Tom Turner

Important Links & Mentions

• Heroux & Company
• Call Tom on 9197889570
• Email Tom directly at [email protected]

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, 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 need help planning your finances for long-term care?

In the third installment of the Retirement in Action mini-series, we return to our roleplay with Radon, Murs, and Morgan to help you know what to expect when financially planning your retirement.

This episode highlights how some typical retiree concerns, including long-term care planning, will be addressed in your financial retirement plan. We also discuss the process of finding the risk tolerance level that you’re happy with to manage your investment portfolio.

To listen to this mini-series from the beginning, please listen to episode eight of the Secure Your Retirement podcast, ‘Planning for Retirement – How the Process Works, Part 1’.

If you missed part two, please listen to episode ten of the Secure Your Retirement podcast, ‘Planning for Retirement – How the Process Works, Part 2’.

In this episode, find out:

• How you can start to prepare financially for long-term care
• Why it’s necessary to have a good estate plan
• How to find out what your risk tolerance is
• How to a financial planner can help you to manage risk in your investment portfolio

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, visit POMWealth.net/podcast.

To receive our free book, Get Off the Retirement Rollercoaster, leave this podcast a 5-star rating review on Apple Podcasts and send a screenshot to morgan.

If you are 65 or over, you may be considering signing up for Medicare. Medicare is federal health insurance for people aged 65 or older. However, younger people can also qualify for Medicare such as those with disabilities or end-stage renal disease. 

Although a lot of people transition to Medicare when they turn 65, there’s a surprising lack of general knowledge and insight into the federal health insurance program.

We wanted to find out more about Medicare from someone who knows exactly how it works, what it covers, and who is eligible for it. So, we invited Lorraine Bowen (Medicare Specialist) onto this episode of the Secure Your Retirement podcast to talk about Medicare in more detail, including Medicare supplements, the four categories of Medicare coverage (Part A, B, C, and D), and so much more.

In this episode find out:

• What got Lorraine into the Medicare profession and why she is so passionate about it
• Why Lorraine loves her role so much
• What Medicare is and why it is necessary
• What you should do if you are 65 or over and you want to find out if you are entitled to Medicare
• How Medicare’s penalties work
• What Medicare covers regarding medical expenses
• What the four categories: Part A (hospital insurance), Part B (medical insurance), Part C (Medicare Advantage), and Part D (prescription drugs) of Medicare covers
• What Part C (Medicare Advantage) means and how it works
• The difference between a Medicare Supplement policy (or Medigap) vs the Medicare Advantage
• The different types of Medigap insurance plans and policies that are available
• How Lorraine helps people decide which Medicare plan to choose
• Questions to ask yourself to help you decide what to look for when it comes to Medicare Part D and the Medicare Supplement route
• How somebody who is turning 65 can prepare to enroll for Medicare

Tweetable Quotes:

“Medigap will go up every year, the Medicare Advantage plans do not. You can be 65 or 95, they're the same price on the Advantage plans.”

“I am always available if they have a problem with a claim or an issue to help them get through that and get it solved.”

Important Links & Mentions

• Medicare website
• Email Lorraine directly at [email protected]
• Call Lorraine on 9193375734

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 http://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]

In part two of the Retirement in Action mini-series, Radon, Murs, and Morgan move onto the next steps of building a retirement plan, following their initial consultation roleplay in the first episode of the series.

In this part of the process, the retiree is presented with a plan and simulations for their future, based on the data that was previously provided.

If you missed part one of this mini-series please listen to episode eight of the Secure Your Retirement podcast, ‘Planning for Retirement – How the Process Works, Part 1’.

In this episode, find out:

• How the retirement analyzer shapes your retirement plan
• What your investable assets are
• Where inflation will and won’t be applied
• How running a simulation can give you clarity on your plans
• Where your required minimum distribution applies and how it’ll work for you
• How the “what ifs” can affect your plan

Important Links & Mentions

If you have any questions about this episode or any topics that we raised in it, please email [email protected]

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, visit POMWealth.net/podcast

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

The news that President Trump has been diagnosed with COVID-19 has set a lot of change into motion, but what does it mean for your investments?

If you’ve been advised to buy and hold, and now feel unsure if that’s the correct approach for you. Or, if you don’t feel satisfied with your current money management strategy, you aren’t alone.

In this episode, we speak to Jack Reutemann, an experienced financial services advisor and self-proclaimed “financial first responder”, to get his advice on what this latest news could mean for your investment portfolio. Jack also gives his thoughts on the pie chart approach and how active risk management is the key to keeping your financial investments safe.

In this episode, find out:

• Why you should rethink how you’ve been taught to manage your money
• The problem with the pie chart approach 
• The resource that could save you millions of dollars in risk management
• What the ‘mutual fund broker-dealer industrial complex’ is and how it could be affecting your money
• Why risk management is the most important factor in managing your investment portfolio
• The importance of reviewing your investment portfolio for people approaching retirement
• What the stomach test is and why you should take it
• How the president’s pre-election COVID-19 diagnosis could affect our approach to managing money
• Why the next 60 days are crucial for the future of the United States of America
• The three possible scenarios and outcomes of the presidential election
• Why knowing how to take defensive action and mitigate risk is crucial at this moment in time
• How having a process can help you manage and mitigate risk
• How the president’s diagnosis could affect the stimulus package

Tweetable Quotes:

“The older you get, the less risk tolerant you should be” – Jack Reutemann

“We are entering what is going to be possibly the 60 most volatile days in the history of the United States of America since the civil war” – Jack Reutemann

Important Links & Mentions

• Jack Reutemann’s course, No More Pies
• Bill Good’s Marketing System
• Tom Dorsey’s book, Point and Figure Charting

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, visit POMWealth.net/podcast

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

In this episode of Retirement in Action, we are starting a series of episodes to go over different scenarios in the financial planning process starting with what that first appointment would look like!

In this Episode:

• Radon, Murs, and Morgan play out a fictional customer/planner scenario based off of what it would look like.
• They go over the questions that are asked in the first meeting so you know what to prepare for in that meeting.
• Hear how this first meeting helps establish the foundation for your retirement plan

Information to have prepared for the first meeting:

• When you would like to retire
• Income
• 401K
• Investments
• Life Insurance
• Spending

Resources:

If you are in or nearing retirement and are looking 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 the complimentary video course, Four Steps to Secure Your Retirement. To access the course, simply visit POMWealth.net/podcast.

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