The Financial Lab

What do Jason Aldean and Shepherds Wealth Solutions have in common? Then, taxes are still relatively low, but that can change at any time.  An article in U.S. News & World Report says that makes this an opportune time to consider converting a traditional individual retirement account into a Roth IRA.  But this might not be right for everyone.  The guys explain what instances could make this a good move or maybe not! 

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Inflation is giving way to something called “shrinkflation.”  Companies are trying to fight higher prices by cutting corners with their products.  For instance, Doritos bags will now contain five fewer chips.  Crest is putting less toothpaste in its tubes.  And Charmin is cutting 20 sheets from its two-ply rolls of toilet paper. David and Travis discuss how they can help you prepare for inflation  while not running out of money!  

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In 1994,the 4% rule was created. The idea was with a 50/50 mix of stocks and bonds, you could pull 4% out to live on and not run out of money over a 30-year retirement.  You can still find that rule on the internet today.  But does it take into account today’s huge inflation rate, or should we just throw out the concept altogether? David and Travis weigh in on the 4% rule and their planning process! 

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David and Travis discuss ways you can "spring clean" your finances! Then, what can bring you to tears as an adult? TAXES! Hear David and Travis discuss their approach to tidying up your finances and keeping as much money in your pocket instead of in Uncle Sam's wallet both now and in retirement! 

Call today for your Complimentary Tax Lab!

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Have you ever argued over the thermostat – lost that fight – and then secretly changed it to the temperature you wanted anyway?  Sixty percent of people in a new poll said they’ve done that before.  And more than half said being comfortable is more important to them than saving money, even if it means ignoring the wishes of others.  Are you the one that wants to be comfortable or save more money? David and Travis discuss a Business Insider article about the four common money tips financial planners always tell their clients to ignore. 

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Even though Congress stripped the parts of President Biden’s “Build Back Better” bill that dealt with retirement plans, lawmakers are working on another piece of legislation.  “Securing A Strong Retirement Act” is designed to encourage and simplify retirement savings.  It would make some major shifts impacting workers with longer life expectancies.  Hear David and Travis discuss six ways this law would change the rules for retirement accounts and how they can help you stay ahead of any potential changes. 

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We all know that 401(k)’s are among the most popular retirement accounts.  But a survey by TDAmeritrade found that only 27% know how much they’re paying in fees.  The smaller the plan, the larger the fees, which can exceed 2%.  That can cost you tens of thousands of dollars over time.  Hear how Steve helps people just like you mitigate fees, and understand the insides and outs of your 401(k). 

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Extreme volatility in the stock market lately could mean a major selloff is just around the corner.  That’s according to Morgan Creek Capital Management CEO Mark Yusko.  Hear David and Travis discuss how they can help you combat both inflation and volatility in retirement, and how their Financial Lab can show you the numbers in real time! 

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The so-called “4% Rule” for annual retirement withdrawals has been around since the mid-1990s.  But Morningstar’s Christine Benz believes that number has been misunderstood.  With inflation rearing its ugly head, Benz now feels the safe withdrawal rate should be 3.3%.  Should retirees who are taking out more panic?  How do you help them come up with the ideal number?

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Travis talks about getting calls from listeners about "Have I saved enough money" and how he and David help clients just like you with these concerns. 

The Federal Reserve will begin dialing back the extraordinary economic aid it's provided since the pandemic erupted last year.  It’s a response to high inflation that now looks likely to persist longer than it did just a few months ago.   When it comes to retirement plans, what’s the smart play at this point?

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