Today I'm joined by Dave Goetsch, the executive producer and writer for "The Big Bang Theory." Dave has battled with anxiety around money and investments for most of his life. In fact, he sat in cash through 2008/2009 convinced the world was going to end! Eventually, he latched on to an investing philosophy that shifted his mindset and alleviated his stress and worry. Dave has also found a unique way of applying investing lessons he has adopted over the years to current events we are up against ...
Mar 31, 2020•34 min•Ep. 67
I hope you, your family, and friends are staying safe during these difficult times. In today's bonus episode, I'm discussing COVID-19 and sharing some thoughts on the current state of the financial markets. I'm also sharing three actions to consider taking right now with your investments and retirement plan.
Mar 24, 2020•28 min•Ep. 66
Today, Peter Lazaroff is sharing the 10 things you should be doing right now if you're a decade from retirement. Get this... Only 10% of people are confident they have enough saved for retirement, according to CNBC. Even more, 41% said they hadn’t taken any steps to address their savings concerns. If retirement is on the horizon and you need an action plan to boost your confidence, Peter is breaking it all down for you today in plain English.
Mar 17, 2020•39 min•Ep. 65
Today we're breaking down rent vs. buy with Jeremy Schnider, founder of Personal Finance Club. You've probably heard people say: "if you rent, you're just throwing your money away every month!" Or... "owning a home is a safe investment." And yeah, there might be some truth to those statements. But they don't tell the whole story. In my experience, doing the math and running the numbers is more helpful. Also, as Jeremy shares, rent vs. buy is probably the wrong question altogether. Join us today ...
Mar 03, 2020•47 min•Ep. 64
Today I'm going to share what retirement savers need to know about variable annuities. Insurance products are great and all. But this confusing product was charging my client $15,000 per year in hidden fees for benefits she didn’t even need. If you own a variable annuity, or you have considered purchasing one to save for retirement, today's episode is for you.
Feb 18, 2020•14 min•Ep. 63
Today I'm sharing the correct order for saving and investing your retirement dollars. Most people think the first stop for your hard-earned money is your 401(k) or IRA, but that's not always the case. Knowing exactly where to save your money 1st, 2nd, 3rd, etc., can make a big difference in your long-term savings and future tax bill. So, if you have always wanted to know the order of operations for saving your money, this episode is for you. Oh, and don't forget to sign up for our live webinar w...
Feb 04, 2020•26 min•Ep. 62
Today I'm going to explain exactly what Per Stirpes is. Per-what?! Yes, it's a funny Latin legal term but it recently saved my client from sending a healthy six-figure sum to the wrong beneficiary. And she didn't even need to hire an attorney to fix it! If you want to make sure your money is inherited by the right people when you are gone, you’ll enjoy today’s episode. For all the links and resources mentioned in today's episode, visit www.youstaywealthy.com/61 DISCLAIMER: This podcast is for in...
Jan 21, 2020•15 min•Ep. 61
When you contribute to retirement accounts, you typically have two options: Contribute pre-tax dollars today, pay taxes in retirement when you withdraw (Traditional 401k/IRA) Contribute after-tax dollars today, withdraw tax-free in retirement (Roth 401k/IRA) Ask 100 people and 99 of them will likely choose option one. A tax deduction certainly sounds better than no tax deduction. I get it. I love tax deductions. But I think the Roth 401(k) is actually the right decision for most retirement inves...
Jan 07, 2020•12 min•Ep. 60
We all know 2020 is an election year. And, it's not uncommon for investors to assume that because it's an election year, the stock must be in for a wild ride. Even more, some suggest that if the party they favor wins the election, it will be good for the markets. And if the other party wins, it will tank them. I'm not going to pretend to have a crystal ball. But, looking back at 90+ years of data can be incredibly helpful in making informed decisions about our money and retirement portfolio. For...
Dec 10, 2019•10 min•Ep. 59
The stock market has been screaming upwards for over 10 years now. Many are worried about putting their hard-earned money in stocks, thinking we must be due for a correction soon. Is it dangerous to invest at market highs? Is it better to wait for a correction before investing in stocks? What if I'm retired or already in retirement? Should I even be investing in stocks at all? I’m answering these questions and more in part two of our financial myth-busting series. For all the links and resources...
Nov 26, 2019•17 min•Ep. 58
Interest rates are at record low levels. The bond market in an almost 40-year year bull market. It's very possible you have heard some version of the following statement: "If (or when) interest rates rise, bonds will lose money." If you're a listener of this retirement podcast, you might know that it’s not entirely incorrect. Bonds and interest rates do have an inverse relationship. But it's complex. Learn what really happens to a long-term bond portfolio if we enter a rising interest rate envir...
Nov 12, 2019•12 min•Ep. 57
Perth Tolle is the founder of Life and Liberty Indexes. And she allocates over 50% of her hard-earned money to emerging markets. But why? Why invest in emerging markets at all? Why invest overseas if the U.S. stock market has done so well? And what are emerging markets anyways? We are answering all this and more in today’s interview. Show Notes & Links: www.youstaywealthy.com/56 DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a b...
Oct 29, 2019•34 min•Ep. 56
There are roughly 69 million Social Security beneficiaries in the U.S. And these beneficiaries will be witnessing a few changes to their Social Security benefits in 2020. But some working professionals who aren't even close to claiming Social Security benefits will also be experiencing a change. In today's episode, I'm sharing three important changes to Social Security in 2020, including a change that will trigger a tax increase for many younger people still working. I'm also sharing some free t...
Oct 15, 2019•15 min•Ep. 55
Without question, you have heard of Exchange Traded Funds, also commonly referred to as ETFs. It's a complex topic so I brought in the best person I know to help us break it down, in plain English. Ryan Kirlin is the Head of Capital Markets for Alpha Architect. He's also a national-caliber rowing athlete and his claim to fame is having been tested at a resting heart rate of 38 while on the U.S. team for rowing. It was the second-lowest resting heart rate recorded by the US team doctors in 40 yea...
Oct 01, 2019•45 min•Ep. 54
If you are investing for retirement, you’ve probably come across target-date mutual funds. You may even be investing in one in your 401K and not realize it. So, you’re likely wondering what they are and why they are so popular. The thing is, target-date mutual funds are just like other mutual funds - some are conservative and others are risky. The trick is making sure they are balanced well when you’re most vulnerable. So, who has the right mix for you? And are they the right strategy for your p...
Sep 17, 2019•32 min•Ep. 53
The founder of the Kinder Institute of Life Planning, George Kinder, joins us on the show today to talk about his passion – helping you find your life’s purpose and aligning your financial goals to it. In today’s episode, you will learn: Why life planning puts the financial planning process in the client’s hands (and why it should be this way) How life planning creates a trusted and authentic relationship between the client and the financial advisor Why advisors should know your life’s meaning t...
Sep 03, 2019•35 min•Ep. 52
The economy has some of you worried right now, and for good reason. The interest rate environment is different from years’ past, the Dow Jones lost 800 points recently, and the yield curve inverted last week. So, what does all of this mean for you and your investments? And should you be concerned about a recession? Today, we’ll tackle questions from our listeners to determine if your financial plan has the components to keep you on the right track during difficult times. Join us today as we disc...
Aug 20, 2019•17 min•Ep. 51
Due to recent tax reform, only 10% of Americans itemized their deductions in 2018 compared to 30% in 2017. This has significantly impacted the tax benefits of charitable giving. Or has it? In today's episode, I'm discussing: Exactly what a Donor-Advised Fund is in its simplest form Who is the right fit for using a Donor-Advised Fund If you are a potential candidate, what the absolute best strategy is for funding one Where to open a Donor-Advised Fund + a handful of really important things to loo...
Aug 06, 2019•24 min•Ep. 50
If retirement is around the corner, it’s likely you’ve considered downsizing your home. Whether it’s for a move to a smaller space or to finally clean out all that stuff you’ve accumulated over the years, downsizing can be a stressful prospect. There is so much to do. And what if you and your spouse don’t agree on what to purge and what to keep? It’s enough to make anyone’s head spin. Today we’ll talk with professional organizer Jen Robin, owner of Life in Jeneral. For Jen, downsizing is more th...
Jul 23, 2019•37 min•Ep. 49
Advanced care planning is not a fun topic to bring up at the dinner table, but what happens if you get seriously ill or injured and can’t speak for yourself? Do you have someone you trust to speak on your behalf who can easily represent your wishes? Or would your hospital room be fraught with conflict and arguments? Today, Paul Malley, President of Aging with Dignity, joins us to talk about Five Wishes, a personal guide that encourages people to discuss difficult topics with loved ones and write...
Jul 09, 2019•32 min•Ep. 48
Retirement planning expert, Ashby Daniels, CFP® joins us on the show today to talk about how to properly plan and invest for a 30+ year retirement. In today’s episode you are going to learn three things: Why living longer shouldn’t necessarily be considered a risk to your retirement How inflation impacts your retirement nest egg and how to factor it into your retirement plan so you don't run out of money A specific investment strategy that can be used to address some of the common challenges tha...
Jun 25, 2019•47 min•Ep. 47
Homeowners insurance is more than just another bill the mortgage company makes us pay every year. It’s the price we pay for peace of mind if our property is damaged in a fire or destroyed by a natural disaster. Unfortunately, homeowners insurance isn’t cheap. And if you don’t take steps to mitigate the cost of this coverage, you could wind up paying A LOT more than you need to. Auto insurance isn’t any different. It’s costly but wildly important. The good news is you have more control over your ...
Jun 11, 2019•27 min•Ep. 46
Uber and Lyft are two big companies that made a huge splash with their IPOs recently, but it remains to be seen whether either will become profitable. Both have posted billions in losses so far and it doesn’t seem like that will change any time soon. With that in mind, it makes you wonder why so many investors pay tons of money to invest in IPOs as soon as they can. I mean, what’s the big deal? In today’s show, I’m going to dive into this topic and provide some academic data that sheds light on ...
May 28, 2019•21 min•Ep. 45
It’s easy to believe you’ll always be in great health, but the truth is, none of us knows what the future brings. You may be in great shape today but find yourself gravely ill or disabled within a few weeks. This change of events would inevitably muck up your retirement plans, and a loss in income could even leave you scrambling to keep up with regular bills. That’s where disability insurance kicks in. This type of coverage can replace part of your income when you become sick or disabled and una...
May 14, 2019•19 min•Ep. 44
When it comes to investing, historical returns show us that, for the most part, a buy-and-hold strategy will always outperform an active one. This means that, once you have a concrete investing plan in place, you should stick with it through thick and thin — and no matter what the market does on any given day. But that doesn’t mean you can randomly buy stocks and bonds and expect things to go your way. Well, you can, I guess...but you will likely regret it for years to come if you do. In today’s...
Apr 30, 2019•42 min•Ep. 43
Buying a home comes with huge financial implications, and many of them come into play well before you make an offer and close on your mortgage. You could spend months, years, or even decades saving up the down payment for your home — and that’s especially true if you plan to save 20% or more or if you live in an expensive area. To make the most of your situation, you’ll need to focus on two main imperatives — figuring out where to save your down payment funds, and deciding on a mortgage that fit...
Apr 16, 2019•44 min•Ep. 42
The most common question about Social Security is "when should I take it?" It’s a simple question but there are a number of factors that need to be considered before you can accurately answer. If you're already taking Social Security, don't panic. There may be a solution for you if you want to change the timing of your benefits after listening to this episode. To summarize, today on the show I'm talking about: The optimal time for most people to take Social Security Why your investment strategy ...
Apr 02, 2019•15 min•Ep. 41
Think you don’t have anything of value online? Think again. The reality is, almost everyone who uses the internet in any capacity has digital assets to protect. Digital assets can include any account or information you preserve on the web — things like email accounts and your social media accounts. A digital asset could also be anything you own online, such as a personal blog or a website for your business. If your goal is protecting yourself and your heirs from modern pitfalls like having your ...
Mar 19, 2019•43 min•Ep. 40
Are you a working professional? If so, now is the perfect time to make smart moves to lower taxes in retirement. Nearing retirement or already retired? Don't worry, it's not too late to win the game against the I.R.S. Remember, it's very possible to have a higher tax bill in retirement than as a working professional. Where do these taxes come from? Required Minimum Distributions (RMDs) Social Security Pensions Real Estate Income Roth Conversions Interest and Dividends Capital Gains Without the p...
Mar 05, 2019•35 min•Ep. 39
Did you know anyone can call themselves a financial advisor? Or a financial planner, a wealth manager, an investment manager… the list goes on and on. Believe it or not, these titles have no legal or regulatory meaning. They’re not evidence of experience or education. They’re just marketing tools. In fact, you could call yourself a wealth manager right now if you wanted! That’s just one reason why finding a trained, experienced, and legitimate financial advisor who works in your best interest at...
Feb 19, 2019•33 min•Ep. 38
