The Retirement Trainer

After a brief hiatus, we’re back with a timely episode to answer a popular question: Is it better to save with pretax dollars or a Roth?

Inflation continues to be an issue in today’s economy, which is why it’s so important to make every dollar count. Everything is more expensive now, and saving for retirement is not a one-size-fits-all plan because everyone’s situation is different.

In today’s episode, we’ll explain the difference between saving with pretax contributions or a Roth, how using your savings for vacations or emergencies can impact your income at tax time, and why making the wrong decisions early on can have significant consequences on your income taxes in retirement.

In this podcast interview, you’ll learn:

• How inflation is essentially a hidden tax that impacts your savings.
• The biggest difference between savings pretax or in a Roth.
• Reasons why having your savings all in pretax dollars could be an issue later.
• Why Roth accounts are still highly recommended for young investors.

To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com

How Fit Is Your Retirement Plan? 

We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com

Between inflation, a possible recession, and bank failures, our economy feels chaotic right now. However, that doesn’t mean that now’s the time to panic. 

Instead, this is your opportunity to get a better understanding of these complex situations and make sure you’re doing everything you can to keep your individual financial plan strong and healthy.

In today’s episode, we talk through how we arrived at this truly crazy moment in our economy, the consequences of untenable debt and years of bad fiscal policy, and how to approach your own finances when our leadership is asleep at the wheel. 

In this podcast interview, you’ll learn:

• Why this economic moment is the consequence of a failure in leadership.
• How record-high debt leaves every part of our economy at greater risk of default.
• How the Silicon Valley Bank collapse proves that CFOs of hugely successful companies don’t understand the limits of banking.
• How to take a long-term approach to your finances in chaotic times. 

To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com

How Fit Is Your Retirement Plan? 

We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com

You worked hard. You built a life, had a career, and hit some milestones along the way–and now you’re retired. So what are you going to do? Now that you’ve got all this free time, what’s your plan or purpose now?

Today’s episode is all about answering one of the toughest questions we get asked: “What do I do now?” We dig into how it feels to retire, the power of feeling uncomfortable, and how to live your life with purpose and intention in the years and decades to come. 

In this podcast interview, you’ll learn: 

• Why almost no one who retires enjoys being sedentary for long.
• Why men struggle so much more with the concept of retirement than women.
• The value of scheduling one thing to do every single day.
• Why financial, physical, and mental fitness are so interlinked.
• How to ensure your retirement plan will keep you able to do the things you love for as long as possible. 

To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com

How Fit Is Your Retirement Plan? 

We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com

Ads for gold, silver, and other precious metals are everywhere. But even with the dollar coming off its high and inflation pushing over 7%, are they a good hedge? If so, what are you supposed to buy, and what should you avoid?

We’ve had lots of people asking us where they can purchase gold and silver. With that in mind, today’s episode is all about precious metals–and why the buyer should almost always beware. We discuss common precious metals scams, whether these assets should be a part of your portfolio, and safer ways to make these investments if you’re interested. 

In this podcast interview, you’ll learn:

• Why the dollar is losing value right now.
• Why individual investors are almost always paying premiums when investing in gold, silver, or other metals.
• Why precious metals aren’t a perfect fit for everyone.
• What to watch out for when investing in precious metals–and why you should avoid almost anything that comes in a fancy box.

To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com

How Fit Is Your Retirement Plan? 

We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com

When everything we buy costs more, every dollar in our pocket and our bank account is worth less. You can cut back on unnecessary expenses here and there, but there’s only so much you can do to cut back on groceries or gas.

That’s why factoring inflation into your retirement plan is so important right now. In today’s episode, we walk you through how to create an action plan to get you through this period of inflation, whether we’re officially in a recession or not.

In this podcast interview, you’ll learn:

• Why the Fed is likely to crush the economy if they raise rates to 2%.
• How we’ve set ourselves up for high costs, exhausted resources, and an ever-growing debt bubble with international impacts.
• Why we started taking huge positions in cash to address an overleveraged market.
• How to build risk tolerance into your financial plan and portfolio.
• Why now’s the time to figure out where your money is being spent–and simple things you can do to curtail inefficient spending.

To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com

How Fit Is Your Retirement Plan? 

We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com

Let’s face it, everyone has to face their own mortality at some point. But if you’ve planned ahead, your family and beneficiaries will thank you because settling an estate can be stressful when you’re starting from scratch.

Today’s episode is all about how to make legacy planning as simple as possible. We’ll walk you through what needs to be done to ensure that your family is looked after and cared for when that day comes.

Even though you can’t plan for everything, you can give them a great head start–which can make a world of difference when everything feels overwhelming.

In this podcast interview, you’ll learn:

• Why it’s so important to put together a basic estate plan and review it often.
• How dictating who gets what takes stress off of families and eliminates conflict.
• How to communicate the details of your plan with your beneficiaries.
• How to make the details of your digital life part of your estate plan.
• Who to talk to in order to build out a plan for your survivors–and how to get help if you need it.

To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com

How Fit Is Your Retirement Plan? 

We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com

As inflation soars, more and more people are dipping into their savings–or going into debt–to make ends meet.

While it may not be an emergency (yet!), it may be time to take a step back and assess your situation.

With that in mind, today’s episode is all about how to make sure that your money lasts. We’re talking about why it’s so easy to accidentally take on debt, how to put together a personal debt plan to eliminate the bad debt you may hold right now, and what you can do from here on out to avoid a bad financial situation in the years to come.

In this podcast interview, you’ll learn:

• The impacts of consumer debt being at an all-time high.
• The difference between good debt and bad debt.
• How to get a grip on your finances if everything feels out of control.
• Courses you can take to get a better sense of your financial education.

To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com

How Fit Is Your Retirement Plan? 

We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com

No matter what financial shape you’re in right now, it’s never too late to find new ways to do better in the years to come. If you’re thinking about retiring (or trying to figure out if you still can retire), concerned about today’s economy, or simply want to make sure that everything is in place before you make that decision, this episode is for you.

Today, we dig into pensions, Social Security, insurance coverage, and much more. You’ll learn about when to start working with a financial planner, how to do the math, and how to get access to the retirement checklist so you can get a clear sense of what you’ve achieved–and what you still have left to figure out. 

In this podcast interview, you’ll learn:

• Why so many people go over budget so easily.
• How to start reviewing what your assets actually look like as you prepare to retire–and assess your financial health.
• How to do a dry run and start picturing retirement well before it’s time to retire.

To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com

How Fit Is Your Retirement Plan? 

We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com

If you’ve been watching the markets over the last few weeks, you probably have questions. Is the current market rally evidence that we’re experiencing a rebound, or are we still in a bear market?

Pundits love to share good news; they don’t love to talk about the underlying pressures that make markets act the way they do. This means that if you’re nearing retirement and keeping up with financial news, you may not have all the information or tools you need to make sure your retirement plan is in the best shape possible.

Today, we’re discussing what market rallies really mean, how they affect your portfolio, and how you can protect yourself in market upturns and downturns alike.

In this podcast interview, you’ll learn:

• Why this rally is unlikely to take us out of a bear market.
• What the Philly Fed is, why it matters, and why it says we’re headed in the wrong direction.
• Why inflation has changed your budget–whether you’ve adjusted it or not.
• How increased taxes of all kinds will inevitably push higher costs onto consumers.
• Why now’s the time to get your financial plan in order.

To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com

How Fit Is Your Retirement Plan? 

We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com

Our economy feels like a pretty uncertain place right now–especially if you’re approaching retirement age (or recently retired). Whether you’re reading the headlines or not, you’re probably feeling the effects of inflation and market volatility every single day.

And if you’re of retirement age, you were there for the hyperinflation of the 1970s, the dot-com bust of the 2000s, and the Great Recession, but that doesn’t mean that your portfolio is currently suited to the moment at hand.

In today’s episode, we’re talking about the countless financial products and options out there right now, how to avoid making emotional investing decisions in tough times, and how to make sure that you’re taking on the right amount of risk in every stage of life.

In this podcast interview, you’ll learn:

• What makes bear market rallies so complicated.
• The difference between financial advice and “hot stock tips.”
• How being overinvested in the market can set you up for constant losses and punishing tax bills.
• How to build a financial plan that ensures you won’t outlive your money.

To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com/72

How Fit Is Your Retirement Plan? 

We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com