The Free Retiree Show

MONEY MANAGEMENT EDITION

In the financial planning world, some concepts are intuitive. Annuities, which often include insurance options as well as investment options, aren't. Annuities have received increasing attention lately, mainly because of the SECURE Act, which provides employers incentives to include annuities in 401(k) plans.

Unfortunately, annuities, like reverse mortgages, can be confusing for retirees and may not be the best option for them.

An annuity is essentially an agreement between you and an insurance company. An annuity contract can be purchased either as a lump sum or as a series of payments. As a result, the insurer will make a series of payments to you for the rest of your life.

But today, an annuity can go in lots of different directions. How? Annuities have now morphed into a product that can be used just for accumulation. They can also be used for different forms of decumulation. Annuities are now more of a product where you don't realize gains on an ongoing basis and you're just taxed when the money comes out beyond that.

Are there more pros than cons when it comes to annuities? Head of Retirement Research for PGIM DC Solutions’ David Blanchett will discuss everything that involves annuities, the good, the bad, and potentially the ugly. With hosts, wealth manager Lee Michael Murphy, career advisor Sergio Patterson, and attorney Matthew McElroy tune in to this week’s episode of The Free Retiree Show.

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MONEY MANAGEMENT EDITION

In October of 2021, the annual inflation rate in the US hit 6.2%, the highest level since November of 1990 and above forecasts of 5.8%

Inflation, or the devaluation of money, is affecting most of the world recently, especially the United States. It’s taking a toll on American citizens as this is the highest it has been in 30 years. Price increases across the board. From energy costs like gas and electricity, food, and even used cars and trucks. 

Based on a Pew Research Center study, in the third quarter of 2021, the country had the 8th-highest annual inflation rate out of 46 countries studied. In the weeks leading up to Thanksgiving, Americans, especially the poor, have felt the effects of inflation as food prices have risen across the board. 

What are the reasons behind inflation? Should we worry about the rising prices of goods or not? And are there ways for American citizens to combat it?

For wealth manager Lee Michael Murphy, it is possible. Join us as he discusses the causes behind inflation and what we can all do to combat the devaluing of our hard-earned dollars. With co-hosts career advisor Sergio Patterson and attorney Matthew McElroy, tune in to this week’s episode of The Free Retiree Show.

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CAREER ADVANCEMENT EDITION

High performers are people who go above and beyond to accomplish their tasks or assignments at work. A member of this type takes initiative and strives to improve their behavior and habits at work in order to benefit the company or team. Their superiors and colleagues can count on them as considerate team players.

At times, we think that becoming a top performer in a certain field can take years of experience. Getting promoted at a job in a matter of months is impossible. Outperforming full-time employees as a sales intern? Even more so. 

But that’s just what Marcus Chan did at 19 years old. Marcus is the Founder and Sales Coach at Venli Consulting Group, a highly profitable and lucrative online business that has been featured in Forbes, LinkedIn, Entrepreneur, Yahoo! Finance, and more in less than 2 years. 

Marcus grew up in a poor household that motivated him to work harder than anyone else. He improved his sales skills and got promoted many times throughout his whole career. 

In this episode of The Free Retiree Show, Marcus discusses his childhood growing up in a poor household with the passion to succeed, his journey to becoming the best salesperson in a company as an intern, how to improve your sales skills, and more! 

Join us as Marcus shares his success story to inspire everyone. With hosts, wealth manager Lee Michael Murphy and career advisor Sergio Patterson, tune in to this week’s episode of The Free Retiree Show.

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AVOIDING THE BIG MISTAKES EDITION

There are things we do (or don't do) that are bad for us. When we consider changing our habits, we shake our heads and shrug our shoulders. But whether we like it or not, change is inevitable. If we don't keep up with the change in our environment, then we won't grow.

Every year, nearly half of Americans promise to change their behavior as soon as the new year begins. However, only 8 percent of them succeed 😮  A quarter gives up after the first week. 

One of the most important factors that determine your ability to be successful, whether it be in your personal life, in your career, or in your finances: the ability to implement successful long-lasting change. 

In this week’s episode, change management consultant Friska Wirya joins us on the show. She's headed up organizational change at New Crest Mining, one of the largest gold mining companies in the world. She also built the change practice for digital consulting at Fujitsu, a top global 500 company.

Join us as Friska discusses the importance of change in everyone’s lives, how to implement long-lasting change to be successful, and more. With hosts, wealth manager Lee Michael Murphy and career advisor Sergio Patterson, tune in to this week’s episode of The Free Retiree Show.

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BUSINESS & THOUGHT LEADER EDITION

From childhood, we’ve been taught to work hard for what we want. 

Want a new toy? You must get an A at school first.

Want to secure a great career? Graduate from uni with top marks.

Want to get promoted at work? Prove yourself to your managers, preferably working overtime.

We’re always busy chasing goals that society, even our families, ingrained in us that we need to achieve. 

But in this never-ending pursuit of success, were you able to find your passion? Each individual possesses gifts and talents capable of making a lasting impact. Few people, however, are able to maximize their gifts and talents. The ability to connect your gifts and talents with your personal purpose paves the way for not only a successful but a significant career. 

Our lives become meaningful through the impact we make on others, more so than living and working just for ourselves. As we grow, our passion has to inspire others’ passions and dreams. 

Our busyness can get in the way of focusing on what really matters. And in this episode, SellYourMac CEO Brian Burke will remind us about the value of passion and purpose to achieve success. 

Brian is Chief Mac Man of SellYourMac.com (SYM), the worldʼs most trusted and highest-rated Apple trade-in company. SYM has paid out $44M+ and has helped over 100,000 customers.

Brian loves helping individuals and organizations stay up to date on their Apple products. Brian is passionate about empowering underprivileged students through gifting Apple technology. His purpose is clear: to help underserved people, especially students, to have a Mac of their own. 

Join us as Brian shares how he built a $10 million dollar company from his two-bedroom apartment, the power of positivity for his mindset, and how he found his passion and purpose in life. With hosts, wealth manager Lee Michael Murphy, career advisor Sergio Patterson, and attorney Matthew McElroy tune in to this week’s episode of The Free Retiree Show.

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CAREER ADVANCEMENT EDITION

Stability is one of the most important factors for people, especially recent grads when looking for a job.

Job security provides peace of mind. When it comes to job security, knowing that you won't lose your job anytime soon is priceless, and for some, that peace of mind is more important than money.

When people apply for a job, they get interviewed, then the recruiters inform them about the salary. People don't even question it. And then they might stay there for years because it’s a stable job. But the question is, are people making a big mistake by just settling? 

For career advisor Sergio Patterson, if a prospective employee doesn’t at least negotiate their expected salary, then they’re leaving money on the table. Sergio emphasizes that if you’re the final candidate they picked and offered the job to, then you have the leverage to negotiate their offer. 

Sergio also gives about the importance of employees knowing the market and their market value as well as being prepared to switch companies when necessary. If they’re feeling stagnant in their current field, what should they do?

Join us and hear Sergio’s advice, tips, and tricks to fully maximize your earning potential. With hosts, wealth manager Lee Michael Murphy and attorney Matthew McElroy tune in to this week’s episode of The Free Retiree Show.

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CAREER ADVANCEMENT AND MONEY MANAGEMENT EDITION

STEM is a curriculum based on the idea of educating students in four specific disciplines — science, technology, engineering, and mathematics — in an interdisciplinary and applied approach. STEM integrates all four disciplines into a cohesive learning model based on real-world applications rather than teaching them separately.

Despite the fact that the United States has traditionally been a leader in these fields, fewer students are pursuing them these days. A common misconception that students have is that you have to be very analytical or demonstrate exceptional proficiency in mathematics in order to pursue a high-paying career in STEM.

As a matter of fact, there are more creative individuals who pursue the STEM field. In a 2020 Forbes article, creativity education is equally important for careers in STEM and in the Arts. Not every career in STEM is analytical. Whether you are a great leader, a creative person, or maybe even a great speaker, you can have a career in STEM. From sound engineers, producers, to consumer producers, you can thrive in any STEM field. 

This is the legacy that Justin “Mr. Fascinate” Shaifer wants to leave. Justin, often called the “Next Bill Nye,” has reached over 1 million people in the past year with his educational content. He has also been awarded for excellence in STEM Education and is LinkedIn’s Top Voice in Technology.

Join us as Justin shares advice on what career opportunities to explore in the field of STEM as well as what you need to do to have a successful career in the future economy. Understanding the future economy is not only truly fascinating, but it is important to your investments because it can help you spot relevant investment trends and opportunities to find successful companies and sectors that can help you grow your wealth. With hosts, wealth manager Lee Michael Murphy and career advisor Sergio Patterson, tune in to this week’s episode of The Free Retiree Show.

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S1 EP88: Advanced Tax Planning and Strategies with Mike Jesowshek 

MONEY MANAGEMENT EDITION

According to some recent news from the congressional budget office, the economic forecast GDP growth is expected to grow by 7.4% in 2021. However, the deficit is expected to go to 3 trillion for the year, which is smaller than last year, but it's three times the amount it was in 2019.

And the CBO is expecting that the deficit should grow by $1.2 trillion per year by 2031, which means that the United States is going to need some money. Where will that come from?

From American citizens’ taxes.

Depending on the state you currently live in, you might already be paying a lot of taxes. Have you ever wondered where these taxes go? Will these taxes be of benefit to us in the future? And most importantly, is there a way to legally pay the least amount in taxes?

For CPA and Small Business Tax Savings Podcast host Mike Jesowshek, there are multiple ways to do just that. Mike is a modern and innovative CPA on a mission to ensure small business owners pay the least amount in taxes as legally possible. Throughout his entrepreneurship journey, he has experienced all business stages, from the good to the bad. This is why it has become his mission to help out businesses that are going through those successes and struggles. 

Luckily, there are various tax planning strategies for everyone to freely and legally utilize. Whether you’re a W2 earner, a small business owner, or an individual who earns a household income of $250,000 or more, you can plan and strategize how much taxes you’ll pay. No more grieving for the thousands of dollars you pay to Uncle Sam because there’s a way to “cheat on him” a bit.

Not entirely convinced yet? Join us as Mike discusses where American citizens’ taxes go, how tax planning works, and how to strategize paying the least amount of taxes legally possible. With hosts, wealth manager Lee Michael Murphy, career advisor Sergio Patterson, and attorney Matthew McElroy, tune in to this week’s episode of The Free Retiree Show.

What You’ll Learn:

• How tax planning works

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CAREER ADVANCEMENT EDITION

Is networking valuable or invaluable?

We’ve heard more people attest to how important it is for their careers. Whether they want to pivot to a different field or have been working towards that job promotion, networking has been the secret sauce to their success. 

From job coaches, mentors, to very successful entrepreneurs and individuals, networking changed the game for them. But there are still a number of people who are not convinced that networking is important. 

They either think that networking’s not the norm to do in their career field, that it’s not worth the time and effort, or that it doesn’t apply to introverted individuals.

Could networking really be just a waste of time? Are you that person who would rather spend time working rather than talk and get to know people? 

For Global CFO Founder Robert Bendetti, networking can turn your whole career around. Robert is the Senior Vice President and Chief Financial Officer of Life Cycle Engineering (LCE). He is also a speaker, author, and change management leader with over 20 years of growth and leadership experience.

If you’re that person who would rather stay at their desks all day long and catch up on work instead of taking the time to talk with their colleagues, Robert will not only inspire you with his success but he will also change your mindset about networking. 

Join us as Robert shares great advice about his success at work, give you tips about networking (whether you’re an introvert or extrovert), and more. With hosts, wealth manager Lee Michael Murphy, and career advisor Sergio Patterson, tune in to this week’s episode of The Free Retiree Show.

To get the episode, show notes, and share links, please go to our podcast page. Thank you for sharing our podcast.

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MONEY MANAGEMENT EDITION

When you retire, what will Social Security be like? 

American citizens have lost hope that there will be anything to see. In a Gallup poll conducted in 2021, 43% of respondents said they were concerned about Social Security.

According to a study conducted by the same firm, 38% of respondents believe that Social Security is going to be their biggest source of income at retirement.

Can you imagine how Social Security will look in the future? Should workers be concerned?

Many younger workers are concerned that, when they retire, they won't be able to collect social security. While they have contributed to the retirement system for years, they fear that when they retire, they won't have any money left.  In the Social Security Trustees' annual report released in April 2020, the trustees noted the potential for social security to become insolvent within 15 years. Moreover, the current COVID-19 pandemic is probably depleting reserves, too. 

With such reports, it is inevitable for American workers to fear what the future holds. But for bestselling author and Boston University professor, Laurence Kotlikoff, it is important to understand social security, prepare for the future, and more. 

Join us and as Prof. Kotlikoff discusses the importance of understanding social security and how the system works and what we can look forward to in the future with hosts wealth manager Lee Michael Murphy and career advisor Sergio Patterson. Tune in to this week’s episode of The Free Retiree Show.

To get the episode, show notes, and share links, please go to our podcast page. Thank you for sharing our podcast.

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