One challenge in managing your money is to balance the right amount of risk in achieving your goals. Take little or no investment risk an you will have to save a lot more money to achieve your savings goal. Take too much, and you may lose principal. Generally, you can take more risk the longer time you have to meet your goal and less risk when you need to convert your capital to income. One way to add some risk to turbo charge your portfolio is by investing a portion of your money in emerging ma...
Dec 03, 2012•57 min
Sometimes perfectionism can be a great motivator. But what happens when it starts to have a negative impact on important areas of your life, like your productivity, your relationships, your physical and psychological health or your career? Subscribe with your favorite podcast player Android RSS Today we uncover the traits, symptoms and causes of perfectionism with Dr. Marla Enhelder. We examine the situations where perfectionism can hurt your productivity and create imbalance in your life. Take ...
Nov 26, 2012•58 min
The need to replace your paycheck is one key driver in retirement planning. Creating income sources like Social Security supplemented by personal savings to generate additional income determines your level of financial security. How much you save is important as is the return you get on your savings. If you need $20,000 a year in supplemental income and you earn 2% in low risk investments in today’s environment you need to have saved $1million. If you were to earn 5%, your required savings drops...
Nov 26, 2012•1 hr 1 min
It’s that time of year again. Time to figure out how much you have spent. Determine the areas where you over or under spent and make adjustments accordingly. It’s time to set your spending baseline for next year and contingency plans for reducing spending should taxes rise or unexpected expenses occur. Diane Tegarden author of Budgeting on a Dime – 10 Steps to Financial Independence offers tips and ideas on how to get your costs under control. We hear from many sources the importance of followin...
Nov 19, 2012•1 hr 2 min
You have many choices to make in retirement. Some are one time choices, like selecting your Social Security or pension benefits. Many others are ongoing. Once you begin Medicare you will need to make a choice each year during open enrollment. This choice can cost or save you thousands. Lloyd Schneider , an expert in Medicare Supplemental Plans will explain your options and how to make a choice best suited to you. You will need to make ongoing choices regarding your investments. Marv Doniger talk...
Nov 12, 2012•1 hr 6 min
Risk takes on many faces. Sometimes we need to be reminded of the risks we undertake. For those who have chased yield, it’s time to reassess the risks of junk bonds, MLPs, REITS and other high yielding assets. The past few years have made these assets appear safer than they historically have been. It’s time for a check up and a renewed awareness of the possibility of capital losses. Locking in lower yields with guarantees through insurance products may leave you exposed to inflation an liquidity...
Nov 05, 2012•1 hr 8 min
Many have seen much of their wealth dissipate over the last several years. A slow economy and massive debt will likely limit returns on investment for many years to come. High unemployment and no salary growth limit what you can save to rebuild your wealth. With rates-of-returns and pay increases stagnant, to rebuild wealth astute savers turn their attention to better educating themselves on financial management and to lower expenses. Travis Freeman, CFP founder of Four Seasons Financial Educati...
Oct 29, 2012•1 hr 7 min
Sometimes Americans can be so ‘America-centric’. In the past there was a good reason for this. The US was by far the biggest and fastest growing economy. We had a stable and supportive political system. The US was fiscally sound. Times have changed. We are one of many large economies, our politics are divisive, we are becoming a fiscal basket case. The dollar is losing value and our prices are rising. Maybe it’s time to diversify our savings outside the US . Marc Krieger CEO of Krieger Capital i...
Oct 22, 2012•1 hr 7 min
Your attitude affects many parts of your life. It affects how people perceive you, your general demeanor and believe it or not, how your investments perform. Your attitude likely has been formed by your experience and education. The financial world teaches you to buy and hold and let the professionals do their business. You may have accepted this attitude, but you most likely have made little or no money in the markets over the last 10-12 years. Bill Deshurko CFP founder of 401 Advisor and autho...
Oct 15, 2012•1 hr 3 min
Getting older is part of all of our retirement plans. We just don’t know how old we will get. This leaves many people assuming they will live to 90 or 95 for planning purposes. We fear outliving our money, thus we get some comfort if the numbers work to an old age But, this means you may spend 20-30 years or more in retirement. A lot can happen in that time. What has happened in your life over the past 30 years? Was it all predictable? We learn to live with uncertainty and we will continue to ne...
Oct 07, 2012•1 hr 5 min
We all face change. Sometimes gracefully, planned and well executed. Other times less so. One change we all face as we live longer to transition from working for a paycheck to not working at all, or working at something that driven by passion. What stops us transitioning smoothly – is it fear or lack of clarity – and how to we get on track to get what we want? Jeff Rasley , author of six books, left his successful law practice in pursuit of his passion. Besides writing, he transitioned to philan...
Oct 01, 2012•1 hr 7 min
Too many people invest and forget. They are distracted from the performance of their investments by the daily tugs and pulls of everyday life. Past wisdom said to buy and hold for the long term and you needn’t worry about your money. However, if you consider the last twelve years as some sense of the long term, then you haven’t made any money in the stock market. If you have a forty year working career to save, then one quarter has just past with out any real earnings. The loss to the compoundin...
Sep 24, 2012•1 hr 4 min
The baby boom generation trampling through their life cycle changed society and the economy. They drove the increase in the building of roads and schools. In starting their careers increased financial asset prices through increased income and pension contributions. They increased real estate prices through home purchases and the building of shopping malls. Now they are moving into retirement at the tune of 3-4 million per year. They will change stock and bond prices and the value of homes has th...
Sep 16, 2012•1 hr 2 min
You may be willing to pay a premium for stability and predictability in volatile times. But, how much and what are you willing to give up? Sometimes people over-correct. With the fear of loss overriding sensibility poor decisions can be made. Dave Boike, ChFC, CLU,RFC and author of High Tide: A Practical Guide for Affluent Retirees explains the importance of balancing the desire for safety with the need for growth. As we get older friends and co-workers may move on. One challenge in retirement i...
Sep 10, 2012•59 min
It’s hard to accomplish something if you can’t articulate what it is you’re trying to do. This is where goals come in handy. Once you state your goals, you set your direction. With your direction set, you can begin to determine what you need and how long it will take you. It’s only from this perspective that you can begin to marshal your resources intelligently. Bill Hammer Jr , CFP, author of The 7 Secrets of Extraordinary Investors and President of Hammer Wealth Group discusses the importance ...
Sep 03, 2012•1 hr 6 min
We all face uncertainties in life. Sometimes the uncertain can cause problems, both financially and personally. This is generally viewed as risk. You can’t manage what you haven’t measured and you can’t measure what you haven’t defined. There are ways to define and approach risk to increase your ability to prepare for it and to manage it. Mike Carpenter author of The ‘Risk-Wise’ Investor provides an intelligent approach and process for defining and managing risk. One risk we all face as we get o...
Aug 27, 2012•1 hr 6 min
We’ve all been through transitions in our lives. Leaving home, going to college, starting a new job or family, these transitions can be both exhilarating and frightening. You can tap this experience as you move through your next transition being a career change or an encore career in retirement. Studies show people keeping busy by doing something of importance to them extends their lives and adds enjoyment to the next phase of life. Matthew Tuttle CFP and CEO of Tuttle Wealth shares how he helps...
Aug 20, 2012•1 hr 6 min
There is a lot to think about when planning your retirement besides money. Yet, the quality of your life and your anxiety level may be determined by the decisions you make about your money. Will you manage it yourself or hire someone to manage it for you? Do you have a strategic approach to manage your money or fly by the seat of your pants. There are sound techniques and questionable approaches to investing your money. Join us as we discuss a sound approach to make your money meet your goals an...
Aug 13, 2012•1 hr 7 min
Does 7% return on your investments sound good? Is it reasonable? In a low interest rate, low inflation environment amidst all of the economic uncertainty 7% may be a desirable target. John Graves , an investment adviser and author of The 7% Solution will explain how he does it and how you can too. If you don’t always communicate with your spouse in a clear and understandable manner, you may not be alone. Author Miriam Goodman has found many couples are anxious and worried about being together al...
Aug 05, 2012•1 hr 6 min
Cost and risk will continue to shift to new retirees. This will increase the demand for sound objective advice. Not all financial advisers are the same. John Balcerzak CFP will explain the difference of advisers who have fiduciary responsibility and those who don’t and the things you need to be aware of. He will also walk through his approach to working with clients. Guarantees in retirement are nice but hard to find. There are concerns on the viability of Social Security and Medicare and now co...
Jul 30, 2012•1 hr 8 min
Many people make financial plans for retirement but don’t plan on what to do with all of their free time. It’s likely you will spend 20 to 30 years in retirement and lacking something of substance to do has been shown to shorten lives. There are three ways people spend their free time in retirement. First, some go in with no idea of what they will do and wing it. They usually end up frustrated and unfulfilled. Second, circumstances force your hand. Our first guest, author Barbara Singer shares s...
Jul 23, 2012•56 min
One key retirement goal is financial security. We get this when we have ample and reliable income and predictable expense. As long as you can manage both sides, income and expense, your retirement can become sustainable. Steve Knudson a financial adviser with thirty years of experience shares his insights on how to manage both sides of the ledger. Sometimes predictability can lead to boredom. Spending twenty to thirty years in retirement with little or nothing to do can drive many people stir cr...
Jul 16, 2012•1 hr 2 min
Many people fear spending principal in retirement. One reason is the fear of out living their money. Another is there will be little or nothing left for their heirs. Yet, there are ways to spend principal to maintain your lifestyle in a prudent manner. Whether you leave money for your heirs is more of a personal decision. Many people feel they need to take care of themselves first and what’s left is what’s left. Tony Walker , a financial adviser, explains ways and reasons to prudently use your p...
Jul 09, 2012•1 hr 9 min
You may extra value in things you don’t think have value. For instance, you can potentially sell your existing life insurance policy to investors for cash today. They will pay you a percentage of the death benefit today. If the policy no longer makes serves its original purpose, don’t cancel it, sell it. Scott Page CEO of The Lifeline Program discuss the pros and cons of selling your policy along with what is required to complete a sale. If you own your own business, you may be leaving money on ...
Jul 02, 2012
What are you going to do when you retire- how are you going to fill your time? Most people don’t know. Many don’t know how to get started. If you’re going to spend 20-30 years in retirement, you will need something to keep you busy. Steve Langerud , director of professional opportunities at DePauw University, spends much of his time helping people answer this question. Steve shares his techniques and approach to defining a successful retirement. Another key to a successful retirement is control ...
Jun 25, 2012•1 hr
It’s hard to plan for something that is changing as a result of what you are doing. A different perspective can be of help. A number of major companies are assessing and anticipating new trends from the baby boomers and are positioning their companies to meet this new demand. Ron Cappello an expert on marketing and branding shares what the cutting edge companies see as the changing retirement environment. Being aware of these changes can help you get a better picture of your retirement. One thin...
Jun 18, 2012•1 hr 7 min
Many people plan on living out their days in their current home. If this is your plan, be sure you do all you can to protect it and your other assets. Attorney Ann Margaret Carrozza explains the value of certain trusts in protecting your assets along with the minimum documents you need for an essential estate plan. You may find certain features in you home become more frustrating as you get older. Aging-in-place designer Andrew Shore shares his insights on how you can tastefully modify your home...
Jun 11, 2012•1 hr
One critical decision you will make in retirement is whether to sell or stay in your house. This helps determine your expense level in retirement and the amount of money you need to save. If you sell and move to a less expensive place, you have the opportunity to lower your expenses and take equity out of your house to supplement your income. If you decide to stay, you might well pay off your house but may not be able to use the equity in your house to sustain your lifestyle. One planning option...
Jun 04, 2012•59 min
There are a handful of items that characterize a secure retirement. A steady, predictable income, family and friends, good health, something interesting to do among others. This has been the same in the old retirement as it is in the new retirement. Yet, in the new retirement getting all of these things in place and keeping them intact is getting harder to do. One, is establishing a steady and predictable income., especially in this low interest environment. Jim Sloan a retirement expert and aut...
May 28, 2012•1 hr 13 min
All planning consists of guessing the future. Some things in retirement planning are unknown. You don’t know what actual inflation will be or the rate of return you will earn on your savings. You don’t know how long you will live or what will happen to your wealth. Though you don’t know the outcome of these elements you generally can make an educated guess to move your planning forward. What about other risks and unknowns you may not have accommodated in your plan. How will the government debt a...
May 21, 2012•16 min
