The Retirement Show: Your Life, Your Money with Scott Sierens

So much has changed since your parents retired. Gone are the days of the pension, and technology is playing a larger part than ever in how we save money and invest in our future. Today we're sharing what factors and forces are shaping retirement in the 2020s.

Read more and get additional financial resources here: http://lifemoneyshow.com

Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ

What we discuss in this episode:

1:00 – Automation

4:08 – Pensions

6:37 – Redefining retirement

10:03 – Work where you want

12:01 – Technology

17:12 – Entitlement programs

19:28 – Climate change

23:15 – Mailbag: New job

We're kicking off the New Year with a talk about the stock market and some predictions. As you'll see, the experts' predictions are all over the board.

Read more and get additional financial resources here: https://lifemoneyshow.com/podcast/ep-35-stock-market-predictions/780/

More Resources:

https://www.goldmansachs.com/insights/pages/outlook-2022-the-long-road-to-higher-rates.html

https://www.morganstanley.com/ideas/investment-outlook-2022-hotter-business-cycle

https://advisors.vanguard.com/insights/article/marketperspectivesdecember2021

https://www.ftportfolios.com/retail/blogs/marketcommentary/index.aspx

What we discuss in this episode:

4:35 – Vanguard

6:21 – First Trust

7:41 – Goldman Sachs

9:10 – Morgan Stanley

9:45 – Who can predict?

12:51 – How to prepare

16:00 – Don't worry

17:04 – Mailbag: Legacy question

The New Year is just around the corner. Today's show is all about money resolutions and focusing on what you can control. You can't control the stock market, but there are some things you can do to improve your financial future.

Read more and get additional financial resources here: https://lifemoneyshow.com/podcast/ep-34-10-money-resolutions-for-2022/773/

What we discuss in this episode:

2:30 – Planning for 90 days

3:02 – New Year's resolution statistics

7:25 – Pay down debt

8:19 – Rainy day fund

9:48 – Increase retirement contributions

12:31 – Roth conversion

13:52 – Talk with spouse

16:23 – Life insurance

17:09 - Refinance

18:26 – Tax withholdings

20:13 – Consolidate accounts

23:13 – Retirement plan

24:10 – Financial advisor

If you're thinking about leaving your job or you're interviewing at different companies, today's show is for you. We'll help you learn how to compare different offers during your job search and what to look for.

Read more and get additional financial resources here: https://lifemoneyshow.com/podcast/ep-33-how-should-you-compare-job-offers/770/

What we discuss in this episode:

2:37 – Great Resignation

4:43 – Financial perspective

5:44 – Comparing apples to apples

8:38 – Bonuses

10:12 – Retirement plan

11:58 – Vesting period

13:11 – Stock options

14:49 – Employee stock ownership

18:19 – Deferred compensation

20:57 – Pensions

22:39 – Health plans

Even if you have a solid financial plan in place, things can quickly get out of tune if you don't make adjustments from time to time. Let's talk about some of the areas where we often see people get out of tune with their financial plans.

Read more and get additional financial resources here: https://lifemoneyshow.com/podcast/ep-32-is-your-financial-plan-out-of-tune/765/

What we discuss in this episode:

6:57 - Taxes

12:19 - Life insurance

17:40 - Cash

22:19 – Risk

25:55 – Question about inheritance

As the year winds down, we help our clients with a checklist of items to get them prepared for the new year. One very important area to take a close look at is your 401(k) contributions. What can you do to improve your retirement account next year? Today we'll share five tips to help you get the most out of your 401(k).

Read more and get additional financial resources here: https://lifemoneyshow.com/podcast/ep-31-5-401k-tips-for-the-end-of-the-year/752/

Read the article about DIY Estate Planning Mistakes: https://money.usnews.com/money/retirement/aging/articles/do-it-yourself-estate-planning-mistakes

Read the article about protecting yourself from online thieves: https://www.kiplinger.com/retirement/602162/retirees-protect-yourself-from-thieves-online

What we discuss in this episode:

1:16 – DIY Estate Planning

8:01 – Tip 1: Max out your 401(k)

10:37 – Tip 2: Make sure you're getting employer match

14:11 – Tip 3: Can you up your contribution percentage?

15:12 – Tip 4: Understanding where you're making contributions to

18:28 – Tip 5: Now is a great time to assess your investment mix

23:34 – Article review: protecting yourself from thieves online

When planning for financial independence, you still need to plan for things other than finances, like what you will do with your free time. We're talking about the life side of retirement today. What are you doing with your time and your energy? Grab a pen and paper and answer these questions for yourself.

Read more and get additional information: https://lifemoneyshow.com/podcast/ep-30-planning-for-the-non-financial-side-of-retirement/744/

Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ

What we discuss on this episode:

2:18 – How long will Scott work?

4:30 – Financial independence

7:33 – Fully retire or work part-time?

9:42 – Where do you want to live?

14:45 – Who will you be around?

16:45 – What activities will you do?

21:06 – How much and where will you travel?

23:33 – What do you want your legacy to be?

27:44 – How to make your dreams come true?

We are opening up the mailbag today. George wants to know how much risk he should take with his investments and Robert wonders which Roth – 401k or IRA – is better? We'll also discuss the best way to help your parents with their investments and whether it's smart to take Social Security early.

Read more and get additional information: https://lifemoneyshow.com/podcast/ep-29-mailbag-how-much-risk-is-ok-which-roth-is-better-and-more/738/

Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ

What we discuss on this episode:

1:23 – CNBC article

6:34 – How much risk should I take?

12:41 – Which Roth is better?

17:49 – How to help mom with investments

22:13 – Take Social Security early?

Cutting corners - we all occasionally do it in life. Whether we do this with our finances, exercising, etc., we're all guilty of this sometimes. When you do this financially, it can really hurt you in the long term.

Read more and get additional information: https://lifemoneyshow.com/podcast/ep-28-quit-cutting-corners-financially/732/

Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ

What we discuss on this episode:

6:50 – Getting organized

11:06 – Legal documents

15:04 – Risk in investing

17:37 – Details of investments

20:44 – Long-term care

Have you thought about giving back to make a positive impact on the lives of others? Are you wanting to be involved in a charitable way? Maybe you have the ability to give some of your time. Maybe it's financial resources. In today's episode with Leslie Blake, Executive Director at Big Brothers Big Sisters, we discuss different ways you can volunteer, be involved, or contribute to help support and make a positive impact on the lives of others.

Read more and get additional information: https://lifemoneyshow.com/podcast/ep-27-ways-of-giving-back-an-interview-with-big-brothers-big-sisters/723/

Big Brothers Big Sisters: https://bbsmchenry.org

Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ

What we discuss on this episode:

2:33 – What is Big Brothers Big Sisters?

6:15 – Helping others

9:00 – How to volunteer

14:52 – Scott's experience

18:38 – Other ways to volunteer

27:30 – Helping financially

33:12 – Events

35:50 – Success stories

42:10 – Where they need help

48:05 – Connect with their team

49:40 – Surprise for Scott