On this episode of the Retirement Solutions Show, the team of financial planners at Oakmont discuss US China trade and how we should react to the news about the new tariffs.

As we continue to read breaking headlines about the negotiations, it's crucial that we have the emotional steadiness to get through this without making any irrational, emotional decisions with our money.

 

What you'll learn from this segment:

• [1:36] David Hicks reminds listeners that a deal will happen. It's just a matter of how long our money will be held hostage to these negotiations. Times like these can play with our emotions, and it is important to trust your plan and not make emotional decisions with your money.
• [3:40] We consider Warren Buffett's comments on the possibility of a trade war.
• [5:17] Could inflation be a byproduct of the trade negotiations?

More key takeaways from this episode:

• [9:24] Blackstone CEO Stephen Schwartzman says he's expecting markets to start cooling off. We share how we help position clients so they don't have to worry about the constant ups-and-downs of the markets.
• [12:55] When you come into a large sum of money, it's important to pace yourself. We share client stories that illustrate this point.
• [18:44] We discuss some of the financial decisions our clients wish they could take back or do over. Most of them involve early withdrawals from retirement accounts and inconsistency with their saving habits. We also touch on a few timeshare horror stories.
• [25:39] David shares why it's important to find a balance between saving money and enjoying your money.
• [29:54] Are you doing enough to prepare for retirement? Blackstone's Tony James tells Fox Business that most of us are not. We share how we help people who got a late start plan for retirement.

• [34:36] Attorney Matt Danner joins us to discuss why it's important to think about getting an actual estate plan. He also shared why Transfer on Death designations rarely ever work.
• [45:55] Few people understand how Social Security spousal benefits work, so we break it down for you. We also share some tips for maximizing your Social Security benefit.

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