Today, we’re answering your most pressing financial questions, which will include Social Security, life insurance, and leaving a legacy. There's a little something in here for everyone so let’s jump into the mailbag.

 

Read more and get additional financial resources here: https://www.truefinancialpartners.com/ep-31-mailbag-social-security-life-insurance-and-legacies/ 

 

What we discuss on this episode: 

2:08 – Start social security to pay off house?

5:48 – Use life insurance to create income

7:47 – What amount to leave to children?

11:22 – How long should I wait to reinvest?

13:10 – How much long-term care coverage do we need?

15:11 – Do I need a financial advisor?

Let’s dive into financial literacy and the three qualities of money you want inside your portfolio. Do you know what they are?   On this episode of the Wealthy Habits podcast, we’ll explain the three qualities of money that you need in your portfolio.   Read more and get additional financial planning resources here: https://www.truefinancialpartners.com/ep-30-three-qualities-of-money-in-financial-planning/    What we discuss on this episode: 

2:44 – Three qualities of money

4:57 – Can you achieve all three?

6:19 – Cash

8:15 – Stocks, bonds, mutual funds

9:49 – Annuities

11:08 – Real estate

12:58 – What do people put too much emphasis on

What is a Roth conversion, and is it right for you? We’ll dig into the pros and cons and fill you in on everything you need to know.

 

Read more and get additional financial resources here: http://petersonfg.com/new-year-new-ideas-to-consider/

 

What we discuss on this episode: 

2:19 – What is a Roth conversion?

6:42 – What if you’re 55 or older?

10:15 – High-income earners

12:00 – Mistakes people make

16:46 – Who will and won’t benefit

17:57 – Why it’s an opportunity

When you think about financial planning, what emotions come to mind? We’ll explain the top two emotions people have when dealing with their money and how to handle those feelings.

 

Read more and get additional financial resources here: https://www.truefinancialpartners.com/ep-28-how-to-account-for-emotions-in-your-financial-plan/ 

 

What we discuss in this episode: 

2:20 – Fear and greed

5:10 – The problem with emotion

8:02 – Mistakes people make

11:03 – Emotions aren’t always bad

13:46 – Building a plan with logic and emotion

Today we’re continuing a two-part series on critical estate planning mistakes. We went through three mistakes on the first part. On this second part of the Wealthy Habits podcast, Dave and Drue talk about three more mistakes people make.

 

Read more and get additional financial resources here: https://www.truefinancialpartners.com/ep-27-avoid-these-critical-estate-planning-mistakes-part-2/

 

Check out Part 1: https://www.truefinancialpartners.com/ep-26-avoid-these-critical-estate-planning-mistakes-part-1/ 

 

What we discuss on this show: 

2:18 – Transferring real estate

6:54 – Consider taxes

9:02 – Other tax considerations

13:03 – Importance of attorneys and CPAs

Over the next two episodes, we’ll be talking about critical estate planning mistakes. We have six different critical mistakes we're going to talk about over this two episode series. We'll do three today and three in the next one

 

Read more and get additional resources here: https://www.truefinancialpartners.com/ep-26-avoid-these-critical-estate-planning-mistakes-part-1/ 

 

What we discuss on this show:

2:48 – Why estate planning is so important

4:54 – Failing to plan for foreseen expenses

7:37 – Not updating beneficiary designations

17:36 – Avoiding conflict and litigation

Today’s episode is devoted to your questions about retirement and financial planning. How much risk is appropriate? What should I do before retiring? We’ll answer these and other questions.

 

Read more and get additional financial resources here: https://www.truefinancialpartners.com/ep-25-mailbag-answering-your-questions-about-retirement-risk-and-investing/ 

 

What we discuss on this show: 

2:07 – I’ll be retiring in one year. What do I need to do before I walk away?

4:07 – How much risk is appropriate with my investments now that I’m retired?

7:27 – I just received a large amount of cash from my mom’s estate. I’m hesitant to invest it right now, because it seems like I’d be buying high.

9:42 – My husband’s military pension is a very nice monthly benefit, but after he dies, I don’t get a penny of it. How do we address this problem?

11:38 – I’m overwhelmed by all the accounts we have.

15:31 – Should I use a big-time advisor?

Mutual funds have long been one of the most popular ways for people to invest. Is that still the case, and is the investment landscape changing?

 

Read more and get additional financial resources here:  https://www.truefinancialpartners.com/ep-24-the-future-of-mutual-funds/

 

What we discuss on this show: 

2:08 – Who has mutual funds?

4:50 – What average investors don’t know about mutual funds

8:08 – Mutual fund loads

10:10 – Mutual fund options and tools

12:53 – Taxes

17:06 – Mutual fund distributions

18:43 – The future of mutual funds

On this episode of the Wealthy Habits podcast, Dave and Drue share five important questions you need to know to prepare for retirement. Let’s see how well you know your finances. 

 

Read more and get additional financial resources here: https://www.truefinancialpartners.com/ep-23-are-you-prepared-for-retirement-take-this-quiz/ 

 

What we discuss on this show: 

2:01 – Do you know how much you actually have?

6:01 – Do you know how much you’re spending?

8:22 – Do you know how much risk you actually have?

12:11 – Do you know what you’re paying in fees?

14:58 – Do you know what your retirement income stream will actually look like?

You've probably heard opinions about variable annuities, and it seems like many people aren't very big proponents of them. We’re going to find out why that is and what annuities are all about.

 

Read more and get additional financial planning resources here: https://www.truefinancialpartners.com/ep-22-whats-the-truth-about-variable-annuities/ 

 

What we discuss on this show: 

2:23 – Why do so many people dislike variable annuities?

4:18 – What are annuities?

6:35 – Why do so many people have variable annuities?

8:00 – Do people not know they’re invested in variable annuities?

10:47 – How can you tell what type of annuity you have?

13:05 – What should I do if I have a variable annuity?