Paul asks AI: “Why can’t people stand working with financial advisors?” Much to Paul’s surprise, AI hit the nail on the head with 10 reasons people don’t trust and won’t work with a financial advisor. Listen along as Paul walks through each reason and explains why people are disillusioned with the industry. Later in the episode, Paul brings up a WSJ article about retirees who keep moving to places that have a high risk of natural disasters. 

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Finally, a state has required high school students to take a class on personal finance. Paul talks about the need for good education for all Americans around economics and personal finance and shares some common misconceptions the average American has because this kind of education wasn’t prioritized in the past. Listen along as Paul shares a few books you can read to catch up on basic personal finance and economics topics and why education keeps you from being manipulated by people who know a little bit more than you do. Later in the episode, Paul covers what happens when the FED drops interest rates more than we think. Is this a political move or is there something the FED knows that we don’t?

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A listener wants to know what they need to do with their 401(k) plan when their job changes. Paul walks through a few important steps to consider during this life change and how to look through the options at your new employer to find the most diversified investments. Later in the episode, Paul wants you to know that people who are really harping on the idea of having a “tax-free” retirement are likely just using these buzzwords as a marketing tool. Paul touches on where taxes fit into a retirement plan and a few of the traps you can fall into when you’re chasing the lowest possible taxes. 

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By now, almost everyone has heard that the FED dropped interest rates last week, which has created a lot of noise in the investment world. Contrary to what many talking heads and advertisers would lead you to believe, now is not the time to make a change, and interest rates were already coming down before the announcement. Paul opens the episode with a deep dive into why the drop may have happened and what these kinds of announcements actually signal or affect. Later in the episode, Paul jumps into a listener question about an annuity with multi-year guarantees to use for healthcare costs late in retirement. Paul addresses the rising healthcare costs and discusses what he’s looking to use annuity products for and when you should stay away from them.

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Paul starts by sharing his excitement about a big client appreciation dinner coming up next month and shares the details on how to get involved. Then, Paul talks about some conversations he had this week with financial advisor coaches about how financial advisors can help people overcome the fears that make them park all their money in fixed-income assets and incur inflation risk. Paul talks about what you can do to pinpoint the fears you have about investing and how education can help you overcome them. Many people develop fears out of the misinformation from financial media or the risky financial practices of the industry, but there is another way forward. 

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Paul talks about his transition from trying to learn about investment products and starting his own career to learning how to educate investors and understanding what it truly means to work for someone for their own best interests. Paul talks about the Prudent Investor Rule, which is a legal framework that is used when minors or others unable to manage their own assets need to trust someone to enact a financial plan on their behalf. He also tells the story of the first conversations he had with his dad about the proven academic research behind investing that the industry flat-out ignores and how these influenced him over the years. 

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Today, Paul tells a story about his younger self, who heard a pitch about the benefits of annuities and was left with plenty of doubts. Paul talks about what stood out to him about the pitch and the moment Paul realized he needed to pursue more education instead of following an industry that seemed set on pitching high-commissioned products as intelligent investing strategies.

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Most people have been told that work retirement plans are not enough to meet their personal needs and goals for retirement income, and for the most part that is true. The bigger problem is that most people don’t know why they aren’t a turnkey retirement option. Today, Paul explains what’s going on in these plans and what you can do to work with the investing options you’ve got through your employer. Listen along as Paul talks about why diversification, even though it’s a popular buzzword in the financial industry, isn’t being practiced by most companies that offer retirement options. 

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Today, Paul walks through a very popular strategy for investing and taking an income in retirement: the bucket strategy. While having a plan for short-term, medium-term, and long-term expenses sounds like a good idea for investors, the bucket strategy uses ideas as an excuse to own assets that do not offer good returns for their risk. Listen along as Paul explains to investors why you can have a different strategy for retirement and still be able to afford purchases with different time horizons.

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Today, Paul talks about the importance of being an educated investor. He talks about how almost 100 years of research continue to show why investors fail and what strategies actually work. Listen along as Paul encourages you to get out of the hamster wheel of product sales and losing strategies and onto a path that will help you relax about money. Later in the episode, Paul shares an absurd fact about the ultra-wealthy that proves that having a purpose for your money is more important than just having a lot of it.

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.