The Financial Lab

What if your boss told you that – from now on – you were going to be paid in Bitcoin, instead of dollars.  Would you be okay with that?  Well, NFL star Sean Culkin wanted to be paid in Bitcoin, but the Kansas City Chiefs said “no.”  So, he’s decided to take his $920,000 salary … and convert it to Bitcoin.  Culkin tells the “Coin-Desk” website that he’s not worried about the cryptocurrency’s wild price swings. David and Travis explain what they would say to a client who told you that he-or-she was thinking of converting their nest egg to Bitcoin.  Plus, what's there advice to those wanting to put all their money in one basket? 

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Anytime you try something new, you’re bound to make a few mistakes.  We call them “rookie” mistakes.  And The Motley Fool says one very common rookie mistake is to retire before you’ve figured out how you’re going to replace your income.  David and  Travis explain how they can help establishing that stream of retirement income that’s going to take the place of our old workplace income.

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When it comes to taxes, do you think you’re over-paying – or do you take full advantage of the tax laws that might work to your advantage?  Ed Slott, author of “The New Retirement Savings Time Bomb,” tells The Motley Fool that having a good tax strategy is even more important than having a good investing strategy. So, how does that work … how do I “plan” my taxes? 

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President Biden wants to raise taxes on businesses and high-income earners. But economist Diana Furchtgott-Roth tells the “Cheddar” financial site that the timing of this is questionable. Of course, Biden insists the tax hike would apply to only a small segment of people. Travis and David explain both scenarios (true or false) and explain how this will impact your future income, and ways to protect your income. 

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Many of us have spent 30 years achieving great things in our career and then we get towards retirement and we have that DIY mentality and think “I can do this on my own, right?" Hear David and Travis discuss why the DIY mentality is a NO GO when planning for retirement!  

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Jessica wants to know from the guys how important is it now to be proactive with our finances and also talk about hybrid insurance options that can protect you either way

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A new survey asked people what amount of money would make them feel confident to retire -  73% said $1 mil, 25% said there is no number that would make me feel good about it! Hear how David and Travis can create a customized income plan that will give you confidence to get to and through retirement!  

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A report based on studies by the RAND Corporation concludes that a typical 67-year-old woman today is as healthy as her mother was at the age of 60.  In other words, we’re living longer because we’re healthier!  That’s great news … if we have the money to actually enjoy those extra years.  That’s where David and Travis come in – how can we stretch our savings to last us through what will likely be a longer retirement?  

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David and Travis discuss a new proposal from The Center for Retirement Research suggest wanting 401(k) plan administrators to start automatically sending out monthly payments to retirees in their 60s in the hope that would encourage those people to delay claiming Social Security.   

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When you think of life insurance, you think of it as protection for your family if something should happen to you, right? Get this -  financial magazine Barron’s says there are ways to use a whole life policy to bolster your retirement portfolio.  Hear David and Travis explain this strategy and find out if it could be a fit for you! 

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