Each generation is currently navigating a unique part of the retirement planning experience. With many baby boomers preparing for the transition into retirement and Generation X starting to think more about their retirement savings, these major life events come with a handful of financial planning questions. In today’s episode, we’ll focus on some of the common questions that these age groups are asking. While there’s no universal solution to these questions, this episode will provide some impor...
Apr 03, 2024•24 min•Ep. 136
As much as any other threat, recognizing and avoiding scams has become an essential skill, particularly for retirees. Join us as we explore crucial steps you can take to safeguard your financial well-being against the growing tide of scams and identity theft. Learn from real-life stories and gain practical advice to keep your finances secure in this digital era, all from the perspective of a seasoned financial professional. From government imposters to sweepstakes, robocalls, and romance scams, ...
Mar 20, 2024•21 min•Ep. 135
We’ve got a mailbag edition of the show today! We’ve gathered some great questions over the last several weeks that we’re excited to share with you. From the tax implications of financial gifts to navigating retirement spending and overcoming indecision, Lee is here to shed light on a range of real-world topics. Dorothy asks for advice on how to financially support her daughter, who wants to take time off work to be with her newborn baby in the hospital, and what the tax implications might look ...
Mar 13, 2024•18 min•Ep. 134
This episode might be a bit counterintuitive. We’re going to question the real impact of common financial habits. Are the strategies you consider beneficial actually working in your favor? We explore the pros and cons of practices like ignoring account statements and strict budgeting. Join us for a practical discussion, as we uncover the unexpected effects of everyday money decisions. Are your good money habits holding you back? Here’s some of what we discuss in this episode: Ignoring account st...
Feb 28, 2024•26 min•Ep. 133
Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning. In this episode, we’re diving into the changing landscape of retirement planning. From the complexity of investment options to the future of Social Security, we’ll discuss the obstacles faced by today’s retirees. Tune in as w...
Feb 14, 2024•24 min•Ep. 132
In this episode, Lee reflects on the journey of JL Perkins Wealth Management over the past decade. From its humble beginnings with just Lee and his sister Francesca, the firm has evolved through unexpected transitions, including office expansions and team changes. As JL Perkins Wealth Management celebrates its 10th anniversary, Lee shares insights into the strategic decisions that have shaped the firm’s growth, and how he’s working to adapt to the needs of its growing clientele. Throughout the c...
Feb 07, 2024•17 min•Ep. 131
Have you ever wondered what questions to ask your financial advisor, or why those questions are crucial? In today’s episode, we’re tackling exactly that. We're discussing the vital questions that bring transparency and depth to your financial advisory relationship. Here’s some of what we discuss in this episode: The different types of fee structures that advisors will typically have Why your advisor’s investment philosophy is an important thing to know up front Why you want to know what specialt...
Jan 03, 2024•26 min•Ep. 130
2023 is coming to an end, and, if we had to guess, there are probably some financial tasks you wish you’d taken care of this year. Not to worry, because in this week’s episode, Lee is going to share six planning tips that you can address during the first quarter of 2024. Let’s kick off the new year the right way! Here’s some of what we discuss in this episode: Keeping the right amount of money in cash Cleaning up old life insurance policies Consolidating old 401ks when you change jobs Reconsider...
Dec 20, 2023•21 min•Ep. 129
Have you ever stopped to ask yourself about the purpose of the money you’ve worked to save throughout your life? In financial planning, it can be easy to fall into the trap of simply viewing your wealth as a numerical scorecard, measured by monthly statements and investment returns. But as we often remind our clients, retirement planning is not just about the numbers on a page; it's about the life experiences and memories those numbers can create. Here’s some of what we discuss in this episode: ...
Dec 06, 2023•18 min•Ep. 128
The retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these hidden, but essential questions about retirement. Here are some of the items we discuss in today's show: Pulling money out of your IRA early could mean penalties and taxes you weren’t prepared...
Nov 15, 2023•21 min•Ep. 127
The retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these hidden, but essential questions about retirement. Here are the questions we are going to dive into in this episode: How much are my tax-deferred savings going to cost me in taxes? How much can...
Nov 01, 2023•21 min•Ep. 126
Welcome back to My Retirement Clarity! This week, we’re diving into the listener mailbag to answer your questions. We’re covering a variety of topics today, many of which get asked in the office quite often. From investing in your grandkid’s college fund to how much to spend on a forever home, this episode is sure to have a takeaway for everyone. Here are a few of the questions we answer in this episode: I’d like to start investing for my grandchildren. Should I set up a 529 plan for them or inv...
Oct 18, 2023•23 min•Ep. 125
Are we on the brink of a retirement renaissance or stormy seas ahead? On this episode, we jump into the pressing issues of Social Security, healthcare, taxes, stock market trends, and long-term care. Whether you're an eternal optimist or cautious pessimist, this episode will equip you with perspectives to plan your retirement years with confidence as we ask the longstanding question, “Is the glass half full or half empty?” Here’s some of what we discuss in this episode: Politicians are unlikely ...
Oct 04, 2023•25 min•Ep. 124
Are you nearing “retirement age”? If so, let’s explore that pivotal question you’ll soon face: Should you retire or continue working? We’ll unravel the intricacies of this decision, addressing both financial and emotional aspects, and help you find out if you’re truly ready to retire. Here are some key takeaways from this episode: Usually people have enough money saved to retire but need to run the numbers to discover that. Couples need to talk about the adjustment to retirement and how they’ll ...
Sep 13, 2023•25 min•Ep. 123
Welcome back to the My Retirement Clarity podcast! Today, Lee and Ben dive into a Yahoo Finance that claims someone lost over $400,000 of their retirement savings in a Roth IRA. Is the Roth IRA really to blame, or is there more to the story? Here’s an overview of what we discuss in this episode: Tax planning and tax diversification are essential aspects of retirement planning. Understanding the potential impact of rising taxes in the future is crucial for making informed decisions. Roth IRAs can...
Sep 06, 2023•19 min•Ep. 122
This week, we’re switching things up to talk about a very important topic: health and wellness! Join us as we sit down with the inspiring health and wellness expert, Lizzie Gossett, who has played a vital role in helping Lee lose an incredible 34 pounds in 3 months. We’re excited to have her on the podcast today to share her insights on prioritizing and maintaining your health. Here are some key takeaways from this episode: The importance of shifting from short-term diets to a long-term lifestyl...
Aug 31, 2023•36 min•Ep. 121
Ever been on the receiving end of ‘the look’ from your spouse? In this episode, Lee recounts the dreaded look he got from his wife a few weeks ago after a meticulously planned family trip to the Bahamas was almost derailed due to a passport oversight- discovered a mere 21 hours before departure. In this episode, Lee shares his crazy adventure of acquiring passports for his two kids in just 7 hours. Here are some key takeaways from this episode: Lee talks about his horrifying realization that his...
Aug 16, 2023•22 min•Ep. 120
We’re back with a bonus episode on resolving financial tension between couples! After popular demand, we’re exploring five more common areas of financial tension: retirement housing, emergency funds, handling inheritances, insurance, and spending habits. Stay tuned to learn how advisors like Lee work to resolve conflicts in these areas as they arise. Here’s what we’ll discuss in this episode: Couples may face tension when deciding where they want to live in retirement. Financial considerations, ...
Aug 02, 2023•21 min•Ep. 119
Money can't buy love, but it can certainly start some spicy debates between you and your better half. In this episode, we're digging into the financial face-offs that make Monopoly fights look like child's play and exploring some money minefields that can test even the most solid relationships. Listen in as we explore how to resolve some of the most common financial sources of tension between couples in retirement. Here’s what we’ll discuss in this episode: Disagreeing on risk tolerance in your ...
Jul 27, 2023•22 min•Ep. 118
Celebrate the spirit of the month with our latest episode as we tackle the concept of financial independence. While the American colonists fought for freedom from British rule, Lee is here to discuss what you’re striving to be independent from in your retirement. We’ll unveil the common foes you’ll face on the journey. And good news, no muskets required for these battles! Here’s what we’ll discuss in this episode: Avoiding being too dependent on the government in retirement. (2:38) Not having to...
Jul 19, 2023•16 min•Ep. 117
Everybody wants to make money, but nobody wants to lose it. In today's episode, Lee discusses a specific investment strategy that aims to limit downside risk while offering attractive upside potential. This strategy, known as a Defined Outcome ETF or Buffered ETF strategy, provides a unique approach to investing, especially in uncertain times like the current economic environment. While this strategy may not be suitable for everyone, it offers an appealing balance between security and growth. Jo...
Jul 12, 2023•15 min•Ep. 116
Don’t get us wrong. In many cases, your 401(k) can be your best investment vehicle, offering numerous benefits and tax advantages and many times a 100% return on some of your contributions (also known as an employer match). However, it's important to recognize that it might not always be the optimal choice for everyone. Join us in this thought-provoking episode as we dissect some reasons why someone should NOT invest in a 401(k). Here’s what we’ll discuss in this episode: Having an emergency fun...
Jul 05, 2023•23 min•Ep. 115
In today’s episode, Lee will talk about one of the most important discussions you should have with your family once you enter the fourth quarter of your life. Although talking about what will happen to your money and possessions once you pass away can be uncomfortable, this conversation is critical. Doing so has the potential to preserve and safeguard the bonds within your family and avoid unnecessary heartache and confusion. Stay tuned as Lee unpacks the moving parts involved in this conversati...
Jun 28, 2023•18 min•Ep. 114
Picture this: You're at your retirement party, finally ready to enjoy your golden years, but worries caused by some bad money habits have robbed you of fully enjoying the sweetness of the day. It happens to more people than you think, which is unfortunate because with just a little bit of modification, you can rid some of the worst money habits from your life and set yourself up for retirement success. Here’s what we’ll discuss in this episode: The danger of ignoring your account statements. (3:...
Jun 21, 2023•28 min•Ep. 113
Recently, the media has been flooded with information about the debt ceiling issues, fueling fears and speculation. However, it's important to recognize this as political theater, with each side playing their role and blaming the other. In this episode, Lee dives into the reality behind the scenes, reminding you that this is not a unique event and that the debt ceiling has been raised numerous times in the past. In the midst of the noise, it's crucial to focus on what truly matters- the performa...
Jun 14, 2023•16 min•Ep. 112
Are you ready to take control of your finances during life's most pivotal moments? In this episode, we dive into the complex world of financial decision-making during key life events. From the excitement of marriage and the joy of welcoming a new child to the challenges of divorce and the loss of a loved one, Lee will provide practical tips and guidance to help you make informed decisions and maintain financial stability. Here’s what we’ll discuss in this episode: Combining your finances after m...
Jun 07, 2023•31 min•Ep. 111
Is the TSP, also known as the Thrift Savings Plan, truly the greatest investment platform of all time? There are a lot of people that would answer yes to this question, so in today’s episode, we’ll explore any potential shortcomings it may have. Specifically, we will dive into a recent conversation between Lee and a client who had their funds in a TSP. Here’s what we’ll discuss in this episode: A recent phone call with a federal employee that led to today’s show topic + a brief breakdown of TSPs...
May 24, 2023•18 min•Ep. 110
From time to time, we like to look at issues faced by people in other professions outside of the financial world and see what kind of retirement planning lessons we can learn from them. In today’s episode, we’re seeing what we can learn from teachers and the issues they face. Let’s look at how homework, standardized testing, and customized learning approaches relate to financial planning. Here’s what we’ll discuss in this episode: Everybody hates homework, but an advisor can help. (1:56) Like st...
May 17, 2023•23 min•Ep. 109
Artificial intelligence has made massive improvements lately, impacting almost every industry. There has been a lot of chatter about this taking over the financial sector as well. So, is artificial intelligence good or bad for the advisor world? We’ll talk about this and more on today’s show. Here’s what we’ll discuss in this episode: Technology has advanced tremendously. (1:48) Lee’s recent experience at Mcdonald's. (4:37) The impact of human interaction in a world of artificial intelligence. (...
May 10, 2023•17 min•Ep. 108
How do you measure success in retirement? While having enough money saved for retirement is important, it shouldn’t be the only measuring stick for success. In this episode, we explore three other areas to consider when measuring retirement success: time, self-worth, and ideal days. Here’s what we’ll discuss in this episode: Lee shares about his weekend in St. Simons, Georgia (1:39) Measuring retirement success by money. (4:37) Measuring retirement success by time. (6:29) Measuring retirement su...
May 03, 2023•17 min•Ep. 107
