Women's Money Wisdom

Welcome to the 52 Pearls Weekly Money Wisdom Podcast hosted by Melissa Joy, CFP and Melissa Fradenburg, financial planners at Pearl Planning. Pearl Planning is a wealth management practice located in Dexter and Grosse Pointe Farms, Michigan. Each week we post bite-size financial tips on social media and our website. We call that 52 Pearls.  In addition to the podcast, you can follow along on our company Facebook pages Dexter page and Grosse Pointe.

This week we're talking about financial planning.

- What is a financial plan?

- Who should have a financial plan?

- What documents do I need to get started?

Check out our financial planning illustration HERE. --- Send in a voice message: https://anchor.fm/52pearls/message

The previous presentation by PEARL PLANNING was intended for general information purposes only.  No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https...

Melissa Joy, CFP® is joined by retired financial Advisor and long-time mentor, Dan Boyce to discuss investor lessons from past recessions. With over 35 years of industry experience, Dan has many words of wisdom for investors trying to navigate the uncharted markets of COVID-19. 

In this episode we will discuss

- Have a plan and stick to it

- Where will income come from in retirement

- Don’t try to predict the market

- Fear vs. Greed

Raymond James is not affiliated with Dan Boyce. All investing involves risk, including the possible loss of principal amount invested. No investment strategy can guarantee your objectives will be met. The indexes mentioned are unmanaged and cannot be invested into directly. Past performance is no guarantee of future results. This material is being provided for informational purposes only and is not a complete description, nor is it a recommendation. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Prior to making an investment decision, please consult with your financial advisor about your individual situation.

The previous presentation by PEARL PLANNING was intended for general information purposes only.  No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https...

Mortgage Decisions During Divorce with Erica Powers

Melissa Joy is joined by Erica Powers to talk about mortgage decisions during divorce. Erica is a licensed mortgage banker with NMLS #739673 at Level One Bank member FDIC and an Equal Housing Lender, with locations in  southeast Michigan including Ann Arbor and Detroit. She works with clients around the country.

We discuss:

· How do you make a payment fit into your budget when going through a transition or change?

· The value of a relational mortgage banker.

· Why it’s important to establish 6 months of demonstrable income or cash flow for employment, spousal support, etc.

Resources:

· A budget worksheet during divorce from Pearl Planning

· Get in touch with Erica Powers on LinkedIn or Facebook

Raymond James is not affiliated with and does not endorse the opinions or services of Erica Powers Level One Bank. Raymond James Financial Services, Inc. does not provide advice on mortgages. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

The previous presentation by PEARL PLANNING was intended for general information purposes only.  No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https...

How do you adjust college decisions during a pandemic? In this 52 Pearls Weekly Money Wisdom podcast episode Melissa Joy talks with college selection consultant Amy McVeigh, founder of Smart College Selection.

We’re discussing:

· How college consultants help students and families set expectations, narrow down their college decisions, and make the right selection for college.

· Options for kicking off college decisions for families of rising seniors including adjustments for testing and how to do a virtual campus tour.

· How Amy uses student-directed research to narrow down a college list.

· Journaling for future college students including a great prompt: write a letter to your pre-covid self about this time.

· How a family’s financial commitment may be changing now and how the student plays a role in financial conversations.

Resources that can help you:

Smart College Selection FAQ including coronavirus resources: https://smartcollegeselection.com/faqs-2

Virtual college tours at YouVisit (https://www.youvisit.com/collegesearch/) or Campus Reel (https://www.campusreel.org/)

Locate a reputable consultant with the Higher Educational Consultants Association (https://hecaonline.org/) or Independent Educational Consultants Association (https://www.iecaonline.com/)

The previous presentation by PEARL PLANNING was intended for general information purposes only.  No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https...

Today’s episode is all about Medicare issues during COVID-19. Melissa Joy is joined by Medicare expert Cameron Giardini from Giardini Medicare.

We cover:

· How to enroll in Medicare while offices may be closed. It turns out it depends on the rules of your local office.

· Decisions that should be made if you’re Medicare-eligible and suddenly unemployed.

· Mistakes to avoid when you are Medicare-eligible and are offered COBRA.

· Changes in income this year and how to appeal your IRMAA charges.

Helpful Resources:

Medicare & COBRA: https://www.gmedicareteam.com/cobra-and-medicare/

Go to SSA.gov to file for Medicare--- Send in a voice message: https://anchor.fm/52pearls/message

The previous presentation by PEARL PLANNING was intended for general information purposes only.  No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https...

Today Dawn Starks, CFP® is joining Melissa Joy to discuss abundance mentality in the age of Covid-19. Dawn is the author of a new book, Simplify Your Financial Life, and founder of Simple Money. Today we’re talking about:

· What does abundance mean for your financial life?

· How gratitude and helping can help you to embrace an abundance mindset in today’s uncertain times.

· Why you should use this time as a breather to plan for what’s next in your money life.

· Dawn suggest you do an assessment of your money life to determine what is meaningful to you in your budget and what isn’t.

For more information on Dawn, visit her websites:

Simple Money: https://simplemoneypro.com/

Dawn’s Book: https://simplemoney.mykajabi.com/simplify-your-financial-life-book--- Send in a voice message: https://anchor.fm/52pearls/message

The previous presentation by PEARL PLANNING was intended for general information purposes only.  No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https...

Welcome to the 52 Pearls Weekly Money Wisdom Podcast hosted by Melissa Joy, CFP and Melissa Fradenburg, financial planners at Pearl Planning. Pearl Planning is a wealth management firm located in Dexter and Grosse Pointe Farms, Michigan. Each week we post bite-size financial tips on social media and our website. We call that 52 Pearls.  In addition to the podcast, you can follow along on our company Facebook pages. Here's the Dexter page and here's Grosse Pointe Farms. 

This week we're talking about what to do with your 401(K) in these times of COVID-19 and economic uncertainty.

- What are my options with my retirement plan if I recently lost my job?

- What if your job is intact? Consider accelerating contributions or doing more.

- What if you might need money from your retirement account?

- What if you have zombie accounts that you are not reviewing or have left at an old employer?

- Retirement plans are a critical component for retirement planning – make sure they’re linked to your financial plan.

You can find additional resources on our blog What Should I do with my 401K.--- Send in a voice message: https://anchor.fm/52pearls/message

The previous presentation by PEARL PLANNING was intended for general information purposes only.  No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https...

Melissa Joy CFP® is joined by Ashby Daniels, CFP®.  Ashby is a financial advisor in Pittsburgh with Shorebridge Wealth Management. He focuses on working with people near and in retirement. Ashby and Melissa discuss: Ashby’s recent blog “4 Stages of a Bear Market”. Why when you enter a crisis, you have two choices – acceptance or panic. How to avoid permanent damage to your investment portfolio. Why Ashby wants you to worry less about the next 20% move and more about the next 100% move. Recovery is just as uncertain as crisis.

 Ashby and Melissa discuss:

• Ashby’s recent blog “4 Stages  of a Bear Market” https://retirementfieldguide.com/4-stages-of-a-bear-market/.
• Why when you enter a crisis,  you have two choices – acceptance or panic.
• How to avoid permanent damage to your investment portfolio.
• Why Ashby wants you to worry less about the next 20% move and more about the next 100% move.
• Recovery is just as uncertain as crisis.

You can learn more about Ashby at his blog, Retirement Field Guide. https://retirementfieldguide.com/

--- Send in a voice message: https://anchor.fm/52pearls/message

The previous presentation by PEARL PLANNING was intended for general information purposes only.  No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https...

Melissa Fradenburg, Financial Advisor in Grosse Pointe with Pearl Planning is joined by special guest Charissa Potts of Freedom Law, PC and they’re talking all things Bankruptcy. Charissa formed her consumer bankruptcy-focused firm in 2014. www.freedomlawpc.com She was recently named to the prestigious American Bankruptcy Institute (ABI) 2019 “40 under 40” class of top bankruptcy practitioners nationwide.

We’ll learn:

*What happens if I declare bankruptcy?

*What is the difference between chapters 7, 11, and 13?

* How does filing bankruptcy affect you?

* Who should consider bankruptcy?

The information presented here is not meant to be legal advice and is intended for informational purposes only. Raymond James does not provide legal advice. You should consult with the appropriate legal professional in regards to your particular situation. Raymond James is not affiliated with Charissa Potts or Freedom Law, PC.

--- Send in a voice message: https://anchor.fm/52pearls/message

The previous presentation by PEARL PLANNING was intended for general information purposes only.  No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https...

Melissa Joy is joined by estate planning attorney Joan Skrzyniarz, practice group chair of trusts and estates at Dickinson Wright in Troy, Michigan. 

Joan and Melissa discuss:

• Why for estate planning, perfection can be the enemy of progress.
• The documents you need in place during a pandemic (medical powers of attorney, financial power of attorney, wills, and trusts).
• The importance of a parental designation of guardian document for parents of minor children, especially during a health pandemic.
• How Joan has developed a family emergency plan for friends and neighbors to help their kids if mom and dad get sick.
• Joan's mantra during this time of uncertainty, "don't be panicked, be prepared." 
• Why estate planning and financial planning help you to "prepare for everything" including unexpected moments like we're experiencing now.

For more information on Joan Skrzyniarz or to contact her, visit her website here.

Raymond James is not affiliated with and does not endorse the opinions or services of Joan Skrzyniarz. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members 

--- Send in a voice message: https://anchor.fm/52pearls/message

The previous presentation by PEARL PLANNING was intended for general information purposes only.  No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https...