We’re living longer than ever these days. That means our wealth may need to see us through what could be an extremely lengthy retirement.

On the latest episode of Your Money & A Cup of Joe, We’re exploring how an increasingly important aspect of wealth management, called longevity planning, can potentially help position our finances for the long haul.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:20 - We're living longer these days and it's a 'double-edged sword' scenario

3:42 - How concierge medicine comes into play here

5:28 - Health considerations you should be considering in the event of a lengthier retirement

7:15 - Longevity planning and how it factors into estate planning

9:25 - The questions you should be asking yourself right now

11:05 - Is your current advisor equipped to help in your longevity planning?

12:33 - How to get in touch with Joe's team

13:30 - Closing remarks

Connect with Joe Calao:

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We all have the standard insurance that helps protect us and our finances—such as auto insurance and homeowners insurance. But are those policies enough to safeguard your assets if you’re faced with an extremely big claim against you?

On the latest episode of Your. Money & A Cup of Joe, we’re taking a closer look at personal umbrella insurance and discovering just how important it can be if you have significant assets. We're also joined by John Boland, Vice President of Alliant Insurance Services, to get his thoughts and unique perspective on such an interesting topic!

Timecodes:

0:06 - Introduction and overview on the topic of the episode

1:20 - What is a personal umbrella policy?

3:26 - Examples of large insurance claims

5:32 - What may require an additional level of insurance?

8:53 - Umbrella policies are most likely used to protect larger assets from claims

11:26 - What amount of umbrella insurance should someone have?

13:22 - The factors that influence the premiums people pay for umbrella insurance

16:12 - How to get in touch with Joe and his team

17:28 - Closing remarks

Connect with Joe Calao:

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If you’re a business owner who decides to sell or transition the ownership of your business, do you know what your next move will be? For some entrepreneurs who want to stay part of the business world they know so well, becoming an independent consultant can be a new stage in their entrepreneurial lives.

On the latest episode of Your Money & A Cup of Joe, we’re taking a look at some key issues involved in transitioning from being a business owner to being a business consultant.

Timecodes:

0:06 - Introduction and overview on the topic of the show

1:28 - The trend of business owners shifting towards consulting

2:40 - The motivators of becoming a consultant

3:53 - Becoming a consultant can smooth out the transition from business ownership to retirement

5:42 - The opportunities associated with becoming a consultant

7:20 - You need a plan in place to transition from your business to consulting

9:18 - The three types of business owners

11:33 - Advice for making important connections and landing consulting gigs

13:18 - The mistakes to avoid when becoming a consultant

16:20 - There are many ways you can provide value to businesses

18:03 - How to get in touch with Joe and his team

19:01 - Closing remarks

Connect with Joe Calao:

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In Joe's work with high-net-worth clients, he is seeing a troubling trend: Too many successful, wealthy people and families are not getting the financial guidance that’s most appropriate to help them achieve their key financial goals.

On the latest episode of Your Money & A Cup of Joe, we’re going to examine why that’s happening and what individuals and families can do about it.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:21 - The troubling trend Joe is seeing with financial advisors

2:37 - People are likely working with the wrong wealth managers

3:13 - What does high-quality financial advice look like?

4:33 - The different types of wealth managers out there

5:53 - Be on the lookout for the exploiting advisors

7:22 - You need to completely avoid the "predator" financial advisors

8:46 - What a top-tier wealth manager looks like and how can I tell they are a consummate professional

11:44 - How to understand if you're getting the right wealth management advise for you

13:51 - How you can get in touch with Joe and his team for a stress test

15:12 - Closing remarks

Connect with Joe Calao:

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If you are like many business owners, you’re looking out for more than just the financial health of your company. You also want to take care of your family and loved ones by providing for them and setting them up for rewarding lives of their own.

On today's episode of Your Money & A Cup of Joe, we’re going to explore how proactive estate planning can help you pursue those goals.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:29 - The role estate planning plays in the life of an entrepreneur

2:33 - Do entrepreneurs recognize the need for smart estate planning?

3:27 - Many entrepreneurs aren't taking the necessary steps to update their estate plans

6:46 - An outdated estate plan can put your family's financial future at risk

9:33 - The first step in getting your estate planning efforts back on track

11:56 - Steps to consider when updating your estate plan

14:03 - The mistakes to avoid within estate planning efforts

16:01 - How to get in touch with Joe and his team

17:35 - Closing remarks

Connect with Joe Calao:

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For all of us, there may come a day when we are asked to be the executor of an estate. It’s a task that comes with some serious responsibilities as well as some important risks if you mismanage your duties.

On this episode of Your Money & A Cup of Joe, we’re going to look at what being an executor is all about and how to decide if you should take on the role if asked.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:22 - What is an executor and what is their role?

3:00 - Before saying yes to this responsibility, you need to deeply consider this role

5:58 - Identifying and finding assets of the deceased individual

8:15 - Advice for identifying and finding assets

9:58 - Addressing the debt, taxes and additional liabilities

11:38 - The common misconception with being an executor

13:48 - The personal level of risk that's assumed by an executor

17:12 - How you can get in touch with Joe and his team

18:56 - Closing remarks

Connect with Joe Calao:

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Business owners want to better understand their clients so they can serve them exceptionally well and grow their enterprise. And while surveys, market research and other tools can be key parts of that effort, there’s another smart marketing strategy that too many entrepreneurs overlook.

On this episode of Your Money & A Cup of Joe, we’re exploring how to enlist your current clients in your future success by inviting them to join a client advisory board.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:22 - A twist on the traditional approach of a client advisory board

2:51 - What your client advisory board looks like and how it operates

3:58 - How this differs from client retreats or dinners

5:08 - How this board can provide you with advice on running your business

6:22 - The benefits of leveraging a client advisory board

10:03 - How an entrepreneur should select which clients would add value on their board

12:00 - How to assess if you need an advisory board in the first place

14:02 - This board isn't all about addressing sales and marketing

15:38 - How to get in touch with Joe and his team

16:25 - Closing remarks

Connect with Joe Calao:

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Affluent families and individuals often have so many things on their plate, that it's easy to overlook issues with one of their largest assets: their homes. And our homes are of course important to our financial security, as well as our personal sense of stability with everything going on in the world right now.

On the latest episode of Your Money & A Cup of Joe, we're exploring the five most prevalent mistakes that affluent homeowners are making in today's day and age.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:58 - Why homeowners should do a financial check-up on their home

3:14 - The five most prevalent mistakes homeowners are making

4:05 - Umbrella policies and the need to have one

5:03 - How you can tell if you have a lack of adequate coverage

5:57 - What if you own homes in different states?

8:03 - Addressing a home's unique construction materials or architecture of the home

9:10 - The mistakes being made surrounding a family's "stuff"

10:34 - How homeowners can proceed forward to avoid these mistakes

11:55 - How you can get in touch with Joe's team

14:28 - Closing remarks

Connect with Joe Calao:

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As 2022 drew to a close, Congress passed new legislation that is going to impact and entice employers to put in place and/or tweak their current retirement plan.

We're continuing with our two-part series featuring the notable changes that Secure Act 2.0 has introduced. Joined by Josh Sutin, of Chamberlain Hrdlicka, we're exploring the considerations that impact employers.

Timecodes:

0:06 - Introduction and overview on the topic of the day

2:15 - What Secure Act 2.0 is trying to accomplish with retirement provisions

8:07 - Auto-enrollment and the success many business owners find

9:46 - How Secure Act 2.0 is impacting part-time workers

12:33 - How Roth contributions have been addressed

14:45 - The hardship provision and what it entails

23:23 - Retirement plan notices need to go out by employers each year

35:30 - Secure Act 2.0 is trying to get businesses back on track following hard times

39:30 - How you can get in touch with Josh and get your questions answered

45:50 - It's important to stay on top of these types of changes

47:37 - Closing remarks

Connect with Joe Calao:

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As 2022 drew to a close, Congress passed new legislation that is going to impact and entice employers to put in place and/or tweak their current retirement plan.

In the next two episodes of Your Money & A Cup of Joe, we're examining some of the provisions that individuals, employers and company leaders will want to know more about in Secure Act 2.0. And in today's episode, we're focusing particularly on the considerations that impact employees.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:12 - Introducing Josh Sutin of Chamberlain Hrdlicka

2:51 - Why Congress enacted Secure Act 2.0

5:02 - It's important to look consider how employees factor into these changes

7:59 - Raising the age for Required Minimum Distributions and the penalties associated with them

10:59 - What the RMD penalties looked like in the past

12:22 - How Congress addressed the qualified charitable distributions

16:55 - How Secure Act 2.0 is increasing contribution limits to retirement funds

24:30 - Student loans are being impacted by Secure Act 2.0 as well

28:45 - Secure Act 2.0's impact on 529 plans and Roth IRAs

31:37 - Closing remarks

Connect with Joe Calao:

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