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

Inflation has been in the news a lot lately, but what is inflation exactly and how might it affect your financial future? We'll explain the ins and outs and pros and cons of this much talked about topic.

Read more and get additional financial information: https://lifemoneyshow.com/podcast/ep-26-pros-and-cons-of-inflation-and-investing/717/

Cited Sources:

Inflation Definition (investopedia.com)

Inflation vs. Stock Market Returns (awealthofcommonsense.com)

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

What we discuss on this episode:

2:12 – What is inflation?

5:20 – Examples of inflation

6:53 – Negative sides

8:37 – Positive sides

9:41 – Hedge inflation

10:29 – Inflation and market returns

13:26 – Your income plan

Getting spouses on the same page with their retirement plan can often be a challenge. We'll share some of the common things couples mess up when it comes to their finances and what you can do to avoid these mistakes.

Read more and get additional financial resources here: https://lifemoneyshow.com/podcast/ep-25-financial-mistakes-couples-make/711/

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

What we discuss on this episode:

3:57 – Conversations

6:21 – Pensions

10:48 – Social Security

13:16 – Retirement dreams

16:04 – 401ks, IRAs

18:37 – Risk

21:07 – Estate planning

It's best to spot red flags in your financial plan early on, that way we can address them before it's too late. Can you name your investments? How often are you meeting with your advisor? Find out if your answers to these and other questions are problematic.

Read more and get additional financial resources here: https://lifemoneyshow.com/podcast/ep-24-spotting-red-flags-in-your-finances/702/

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

What we discuss on this episode:

4:33 – Surplus

7:26 – Company retirement plan

10:37 – 401k or IRA

14:43 – Name a stock

18:02 – Know your number

20:39 – Financial and retirement plan

22:46 – Meet with advisor

25:47 – Mailbag: Keep working

Time to act fast. We're sharing some important tax strategies you might want to put in place before Dec. 31 to maximize your retirement accounts. We'll share what they are and why you might want to make these changes now.

Read more and get additional financial resources here: https://lifemoneyshow.com/podcast/ep-23-tax-planning-tips-to-maximize-your-retirement-accounts/695/

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

What we discuss on this episode:

2:06 – Types of accounts

6:04 – Maximizing accounts

9:09 – Self employed

10:35 – Non-working spouse

13:07 – Roth conversions

16:43 – Strategies

21:27 – Be careful

We're not even to December yet, but it's important to start talking about tax planning strategies early. Today, we'll explain why now is the best time to start planning for your taxes and how you can start.

Read more and get additional financial information: https://lifemoneyshow.com/podcast/ep-22-year-end-tax-planning-tips/690/

Key Points:

4:50 – What is tax planning

8:30 – Maximize retirement accounts

12:00 – Health savings account

14:30 – Roth conversions

17:40 – Tax gain harvesting

21:02 – Withholding

23:34 – Education planning

25:02 – Charity

27:32 – Legacy planning

Today we're talking about the recent proposals in the new American Families Tax Proposal. We'll walk you through some of the proposed changes and how they could affect your financial future.

Read more and get additional financial information: https://lifemoneyshow.com/podcast/ep-21-how-the-democrats-tax-proposal-could-affect-your-financial-future/678/

Key Points:

4:16 – Income taxes

6:51 – Capital gains

8:21 – S-Corp

9:57 – Ultra-high income earners

11:27 – Retirement planning changes

12:45 – Conversions

14:02 – Investment strategy change

15:05 – RMDs

18:19 – Miscellaneous proposals

Today we are going to focus on questions that we've heard from people recently. We will discuss gifting money to your children, the fear of running out of money, and required minimum distributions. No matter your financial question, we're here to help guide you.

Read more and get additional financial information: https://lifemoneyshow.com/podcast/ep-20-listener-questions-gifting-money-running-out-of-money-and-rmds/672/

Key Points:

5:21 – Gifts to children

12:07 – Running out of money

18:17 – Getting daughter started

22:25 – Required minimum distributions

Common sense is actually quite uncommon, especially when it comes to financial planning. Here are some common sense money approaches you need to know.

Read more and get additional financial information: https://lifemoneyshow.com/podcast/ep-19-learning-through-uncommon-sense/659/

Key Points:

3:56 – Buy low, sell high

9:30 – Don't pay more in taxes than you have to

13:07 – Keep costs low

17:00 – Don't put eggs in one basket

20:41 – Marketing timing

24:23 – Mailbag: Early retirement package

Sometimes the easiest way to learn about something is to make it really simple. There are a lot of assumptions out there about finances, so let's take some time to clear those up. Like the true/false tests you might have taken back in grade school, let's play a round of fact or fiction to test your financial planning acuity.

Read more and get additional financial information: https://lifemoneyshow.com/podcast/ep-18-financial-fact-or-fiction-roths-trusts-and-life-insurance/650/

Market Watch:

https://www.marketwatch.com/story/why-you-should-test-drive-your-retirement-11628801767?mod=retirement

Key Points:

3:20 – Roth 401k

5:30 – Trust

7:17 – Life insurance

9:23 – Annuities

11:18 – Social Security

Retirement comes with some double-edged swords – things that are both negative and positive. We'll explain what they are and how to approach them.

Read more and get additional financial resources here: https://lifemoneyshow.com/podcast/ep-17-the-double-edged-sword-of-retirement/634/

What we discuss on this episode:

1:25 – Who taught Scott the most

6:01 – Stocks and investing

11:29 – Sudden wealth

14:15 – Roth IRA vs. traditional IRA

18:30 – Paying off your house

20:23 – Risk in your portfolio

24:10 – Question: Flipping houses as investment