We’ve received some great questions from clients recently. For instance, if you got a raise at work, but your household now makes too much money to contribute to a Roth IRA, what do you do? Where should your investments go if you like tax-free growth? Tune in to this episode as Marc answers this question and others, like how to use a health savings account, how to save for your kids’ college, and more. As always, we’re here to answer any financial questions you have. Stay tuned to see what you c...
Jul 20, 2023•18 min
Today we’re tackling two meaty topics – the debt ceiling and playing the long game in investing. Last show, we talked a lot about the debt ceiling, so we wanted to give you an update. The Federal Reserve met recently and decided to pause rates, which was to be expected. In the media, it was doom and gloom last month, and now they’re not talking about it as much. Some people thought the Fed might cut rates, but that hasn’t happened. They’ll probably increase them again this year. In this episode,...
Jun 29, 2023•16 min
Today we're talking about the U.S. debt ceiling. You might be wondering, what is that? It’s basically a limit on the total amount of money our government is authorized to borrow. U.S. Treasury Secretary, Janet Yellen, says our country has enough money to pay our bills until June 1, so we’re coming up against that deadline. The president and House and Senate leaders are currently negotiating about how to handle this. In this episode, we'll take a look at how the debt ceiling has been handled in t...
May 18, 2023•17 min
We have a lot to talk about on today’s show because it’s an exciting time of year! Tax season is behind us and we’re looking ahead. In honor of Financial Literacy Month, we’re sharing facts you need to know when it comes to your money. We’ll explain how financial literacy can impact you and how your money challenges and successes can impact your children down the road. If you’re listening to this podcast, odds are that you are already interested in this topic, but let’s take it to the next level...
Apr 27, 2023•18 min
The collapse of Silicon Valley Bank and Signature Bank has been huge news in the financial sector and an event that many people worry could trigger even more fallout across the country. With 2008 still fresh in our mind, it’s justified to be concerned about what this might mean for your money. In this episode, Marc will break down the events leading up to these bank failures and explain what actually happened to cause this collapse. Knowing what went wrong will help you better understand how it’...
Mar 23, 2023•20 min
Today we’re sharing a great checklist you should follow to begin 2023. This will help you through the year if you’re interested in being better prepared for financial planning and for retirement. If you’re retiring this year, it’s essential to have some concrete answers to these questions we’re talking about on today’s show. If you’re still a few years from the milestone, tune in so you can start thinking about these critical conversations. On this episode, we’ll share: • How to prepare for econ...
Jan 26, 2023•17 min•Ep. 37
In the New Year, it looks like we may have some changes to the retirement system. It may make things slightly more challenging for PFA and for consumers throughout the nation. New retirement legislation is on the horizon, and in this episode we will discuss some of the key points you will want to know about the SECURE Act 2.0. On this episode, we’ll share: What to know about the SECURE Act 2.0. (1:20) Here you can learn about explain Simple IRA Plans. (5:48) When should you start your Social Sec...
Dec 29, 2022•16 min•Ep. 36
Today’s show combines our two favorite topics – finances and football. Believe it or not, planning for your financial future has some similarities to the sport of football. In retirement planning, some people try to be successful without having a coach at all. Others keep the same coach that they’ve had for years, even though things aren’t working out with him. We’ll explain why you need to design a portfolio that puts you in victory formation. On this episode, we’ll share: Why mistakes in the f...
Nov 03, 2022•15 min•Ep. 35
Welcome to today’s show! If you haven’t heard of Professional Financial Advisors, LLC, we handle money management and financial planning and have been in business since 2003. We also help clients with Medicare plans. Within financial planning, we try to be holistic so we can handle all your needs. Find out more about our business and how we can help you. On this episode, we’ll share: Why you shouldn’t count on Social Security for your financial future. (2:23) How we specialize in diversification...
Oct 06, 2022•17 min•Ep. 34
(Note: Today's episode sounds a little different as it was originally produced for the NebraskaLand Bank Podcast) On this episode: Medicare can be confusing, especially with the various plans and supplements offered through different companies. So we're going to break down Medicare today with two experts on the topic, Whitney Kester, a specialized Medicare insurance agent, and Marc Werkmeister, a Certified Financial Planner. Unfortunately, the process of Medicare is a lot more complicated than s...
Aug 08, 2022•34 min•Ep. 33
(Note: Today's episode sounds a little different as it was originally produced for the NebraskaLand Bank Podcast) On this episode: With a volatile market, rising interest rates, and high inflation, many people are worried about the state of the economy. On today’s show, two economic experts, Senator & NebraskaLand CEO Mike Jacobson and Certified Financial Planner Marc Werkmeister join us to break down the trends we are seeing in the economy and what it all means. More Details: The current ec...
Jun 30, 2022•38 min•Ep. 32
I was recently a guest on NebraskaLand Bank Podcast and spoke with hosts Ty Lucas and Danielle Remus. Today I’m sharing our conversation on my podcast. Here are some of the highlights. What should people be thinking about with retirement planning? As far as the end of year, a lot of it centers on capital gains, taxable events by mutual funds, maxing out retirement accounts, etc. All that stuff has to be top of mind before the end of the year. We also talk to clients about making sure they're sav...
Dec 09, 2021•40 min
In today’s mailbag, we’re answering listener questions about how to retire early, whether to take a pension lump sum and if it makes sense to have two financial advisors. Read more and get additional financial resources here: https://makeretirementwork.com/make-retirement-work/podcast.html What we discuss on this episode: 2:11 – Retiring early 6:21 – Pension 8:25 – Two advisors...
Nov 11, 2021•15 min
Today we’re sharing some potential red flags you should be aware of in your finances. How would you answer these questions? Can you name all of the investments in your portfolio? It’s not a red flag if you can’t name them all, but you should know generally what you own. If you can name them all, you might not be very well diversified. If you don’t know how your money is invested, maybe you’re not diversified enough or maybe you’re taking too much risk or not enough. You have to pay attention to ...
Sep 09, 2021•19 min
Marc is on the hot seat with this financial and retirement quiz. Play along and see how you do as well. Read more and get additional financial resources here: https://makeretirementwork.com/1399/ep-28-test-your-financial-knowledge/ What we discuss on this episode: 2:30 – Scary retirement 4:22 – Scary coming year 9:10 – Tax bracket 11:24 – Money in retirement 14:16 – Wish you had more...
Aug 12, 2021•19 min
We’re changing it up today with some funny financial planning jokes and what we can learn from the humor. Read more and get additional financial resources here: https://makeretirementwork.com/podcasts/ What we discuss on this episode: 1:57 – Credit cards 4:52 – Buying bonds 8:02 – Check my balance 11:23 – Long-term investment 13:27 – Stock market crash 17:07 – Retire at 64...
Jul 15, 2021•23 min•Ep. 27
Common sense is actually quite uncommon, especially when it comes to financial planning. Here are some common sense money approaches you need to know. Read more and get additional financial resources here: https://makeretirementwork.com/1372/ep-26-learning-through-uncommon-sense/ What we discuss on this episode: 1:43 – Buy low, sell high 5:36 – Don’t pay more in taxes than you have to 8:47 – Keep costs low 11:11 – Don’t put eggs in one basket 14:06 – Marketing timing...
Jun 10, 2021•20 min
People often have questions about life insurance. It’s not a sexy topic, but it is an important one. We’ll explain why. Read more and get additional financial resources here: https://makeretirementwork.com/1350/ep-25-do-you-really-need-life-insurance/ What we discuss on this episode: 1:50 – Dirty word 3:33 – Do you need it? 4:48 – How much? 7:50 – Strategic uses 11:54 – Term, whole and universal...
May 13, 2021•18 min
On this episode of Make Retirement Work with Marc Werkmeister, we’ll explain how financial planning is like basketball. You might be surprised how much they have in common. Read more and get additional financial resources here: https://makeretirementwork.com/1331/ep-24-what-basketball-teaches-us-about-retirement/ What we discuss on this episode: 2:54 – Shot clock 6:08 – Double dribble 9:37 – Personal fouls 13:24 – Coaching...
Apr 08, 2021•18 min
Today, we’re answering your most pressing financial questions about 401ks, mutual funds and inflation. Let’s jump into the mailbag. Read more and get additional financial resources here: https://makeretirementwork.com/1321/ep-23-mailbag-401ks-mutual-funds-and-inflation/ What we discuss on this episode: 2:41 – Can I leave 401k to son? 6:57 – Worry about inflation? 10:30 – Mutual funds 15:13 – Rental property...
Mar 11, 2021•20 min
Alternative investments like SPACS, crypto, and others have become very popular in recent years. Should you ignore them or jump on them? We’ll shed some light on what they are, how they work and whether they’re worth your time. Read more and get additional financial resources here: https://makeretirementwork.com/1283/ep-22-are-alternative-investments-right-for-you/ What we discuss on this episode: 2:50 – What are alternative investments? 4:00 – Cryptocurrency 9:02 – SPACs 11:48 – Real estate 15:...
Feb 11, 2021•23 min
If you don’t know the answer to the question, then this episode is for you. On this episode, we’ll explore the three qualities of money, discuss whether you can achieve them in a single investment, and how to put the right emphasis on the different qualities. It’s really quite basic, but understanding these fundamentals can make an enormous difference in your financial life. Read more and get additional financial resources here: https://makeretirementwork.com/498/ep-21-what-are-the-3-qualities-o...
Jan 14, 2021•22 min
The idea of diversification is pretty common within financial planning, but how effective is the average investor at executing that strategy? Today we’ll talk all about diversification, what it means, and where the biggest issues arise. Read more and get additional financial resources here: http://makeretirementwork.com/466/ep-20-is-diversification-for-suckers/ What we discuss on this episode: 1:29 – A quote about diversification 2:09 – How does the average person define diversification 3:11 – H...
Nov 05, 2020•14 min
Do you know all you need to know about your 401(k)? Find out in today’s episode of the podcast as we unpack some frequently asked questions. Read more and get additional financial resources here: http://makeretirementwork.com/462/ep-19-answering-the-top-401k-faqs/ What we discuss on this show: 1:17 - Is it a good idea to take advantage of free advice? 5:46 - Are 401(k) loans good or bad? 8:20 - When do 401(k) rollovers make sense? 10:36 - Should you do target date funds? 13:53 - Should you just ...
Oct 08, 2020•20 min
We’re all facing financial challenges in 2020 but the generation impacted the most might be the Baby Boomers because millions are entering retirement or already there. Today we’ll share the biggest financial concerns we’re hearing from clients and other people in that generation as they get ready to retire. Read more and get additional financial resources here: http://makeretirementwork.com/458/ep-18-challenges-facing-baby-boomers-in-retirement/ What we discuss on the show: 1:40 – The uncertaint...
Oct 02, 2020•18 min
This episode is all about you and the questions you have about finance. Join us as we go into the mailbag and talk about retirement spending, financial fallout from divorce, the upcoming election, taxes, and how much retirement savings you need. Read more and get additional financial resources here: http://makeretirementwork.com/452/ep-17-answering-your-financial-questions/ What we discuss on this show: 2:52 – Mailbag Question #1: I’m thinking I’ll spend a lot of money during the first few years...
Sep 24, 2020•19 min
Financial planning can get really deep and detailed but that’s not always necessary for everyone. There are, however, some essential financial items that everyone should be aware of when putting together a plan. Today we’ll list out five of those and tell you what you need to know. Read more and get additional financial resources here: http://makeretirementwork.com/447/ep-16-financial-stuff-you-should-know/ What we discuss on the show: 1:50 – Bonds and the Bond Market 4:44 – Tax Rates 9:25 – Liv...
Sep 17, 2020•21 min
Even with a few months left in 2020, we’ve already experienced enough to last us a decade it seems. Along the way, we’ve learned quite a bit and looking back on that is a valuable exercise. Join us today as we reflect on a busy year and share what we know in hindsight. Read more and get additional financial resources here: http://makeretirementwork.com/441/ep-15-hindsight-is-2020-reflecting-on-a-busy-year/ What we discuss on the show: 3:42 – The coronavirus and the stock market 5:57 – Why divers...
Sep 10, 2020•20 min
How do you compare to the average American when it comes to saving money? Today you’re going to find out as we sort through the statistics from the latest Vanguard report. We’ll also see how the data compares with what Marc sees from clients. Read more and see the full Vanguard report here: http://makeretirementwork.com/435/ep-14-eye-opening-stats-on-how-america-saves/ What we discuss on this episode: 2:06 – Defined contribution plans are now used by 100 million Americans. 3:13 – 15% of plan par...
Sep 03, 2020•22 min
Let’s talk about scrutinizing our IRA. It’s a very popular choice for retirement, but are we being too passive about how we save and invest inside that account? Today we’ll talk about the pros and cons and make sure you’re getting the most out of your investments. Read more and get additional financial resources here: http://makeretirementwork.com/429/ep-13-lets-scrutinize-your-ira/ On today's show: 2:15 – 100% of IRA in the stock market? 4:14 – People don’t always know options, risk 5:54 – Does...
Aug 27, 2020•17 min
