Trailer

Today, Vince, Mike and Jag are here to talk about the dreaded "I word" - inflation.  Specifically, how does inflation impact the fixed income that retirees are so reliant on?

• What is inflation
• How much it can impact you?
• An Inflation Calculator that shows some scary numbers

For more help planning your financial future, download our free retirement guide here: https://cfgretirement.com/retirementguide

Additional Resources:

CFG Retirement Website: https://cfgretirement.com/

CFG Retirement Phone Number to Call: 952-657-7470

Vince email: vince@cfgretirement.com

Today, Vince and Jag are joined by CFG Retirement Group's Michael Stendahl, financial advisor and retirement planner.

Mike has decades of experience on trading floors and brings with him the perspective of how the trading world has changed. Specifically, we break down 5 ways in which Old Wall Street differs from New Wall Street:

• Fees (trade Commissions)
• Investment Options
• Big vs Independent
• Commissions vs fee based
• Investment managers vs financial planners

For more help planning your financial future, download our free retirement guide here: https://cfgretirement.com/retirementguide

Additional Resources:

CFG Retirement Website: https://cfgretirement.com/

CFG Retirement Phone Number to Call: 952-657-7470

Vince email: vince@cfgretirement.com

Typically, investors want to maximize their returns, but minimize their risk.  And while that "unicorn" investment of high returns doesn't necessarily exist, today, Vince Oldre of CFG Retirement Group goes through some strategies to get the best possible results.

Standard deviation is important - it's the amount that your investments can vary in volatility.  "How big are the bounces?"  Vince explains how to factor standard deviation in to your investments.

There are many tools on the Internet, including Morningstar and Yahoo Finance.  However, there's a catch to looking at 10-year returns, now, in 2021.  Vince and Jag talk about what that is.

Additional Resources:

CFG Retirement Website: https://cfgretirement.com/

CFG Retirement Phone Number to Call: 952-657-7470

CFG Retirement TEXT line: 612-448-3243

Vince email: vince@cfgretirement.com

Since the 1980s, the 4% Rule stated that you could safely withdraw 4% of your portfolio every year, and have a successful 30 year retirement.   But much has changed in the last TWO years, never mind the last 40.

Today, Vince Oldre of CFG Retirement looks at this rule.   Morningstar thinks the 4% rule should now be more like 3.3%, a significant difference in annual income.  But Vince digs a little deeper.  The old rule was based on a 60-40 stock bond mix.  As we discussed in a previous episode, that model is also outdated.  We go under the hood to talk about how you can calibrate different sources of income to get to a withdrawal rate that will work for you in retirement.

Additional Resources:

CNBC article on the 4% rule: https://www.cnbc.com/2021/11/11/the-4percent-rule-a-popular-retirement-income-strategy-may-be-outdated.html

CFG Retirement Website: https://cfgretirement.com/

CFG Retirement Phone Number to Call: 952-657-7470

CFG Retirement TEXT line: 612-448-3243

Vince email: vince@cfgretirement.com

The end of the year is a great time to take stock of all things in life.  This is especially true for your personal finances.  Here are 9 items for your end of the year checklist.  Jag and Vince Oldre from CFG Retirement Group break them down in this week's episode.

• Review/Update Your Beneficiaries
• Review/Update Your Tax Withholding
• Review Your Homeowners, Auto, and Other Insurance Needs
• Review Your Portfolio and Diversify if Necessary
• Spend Those Flex Account Dollars Before They Are Gone!
• Check on Your Emergency Savings
• Contribute To 529 Plans and Other College Funds
• Make Charitable Donations
• Plan For The Future

Additional Resources:

CFG Retirement Website: https://cfgretirement.com/

CFG Retirement Phone Number to Call: 952-657-7470

CFG Retirement TEXT line: 612-448-3243

Vince email: vince@cfgretirement.com

Do you need life insurance in retirement? As with most questions, the answer is: it depends.  Today, Vince and Jag break down the pros and cons of life insurance, including:

Cons:

• Can be costly to continue
• May not actually need it
• May benefit the insurance agent more 

Pros: 

• More tax efficient benefit to beneficiaries
• Can provide tax free distributions from the cash value
• It can be considered a safer asset
• Can provide long term care coverage

Additional Resources:

CFG Retirement Website: https://cfgretirement.com/

CFG Retirement Phone Number to Call: 952-657-7470

CFG Retirement TEXT line: 612-448-3243

Vince email: vince@cfgretirement.com

With December here, you may have considered rolling over your 401k retirement plan.  Today, Vince Oldre and Jag break down the pros and cons of doing it:

Cons:

• You plan to retire early or late
• Protection from lawsuits
• Fees
• Not sure who to trust
• Limited Options

Pros:

• Better performing funds
• More Options
• Want alternatives to bonds
• Want more flexibility to withdrawals
• Want better income strategies
• Work with someone who has built a customized portfolio for you

Additional Resources:

CFG Retirement Website: https://cfgretirement.com/

CFG Retirement Phone Number to Call: 952-657-7470

CFG Retirement TEXT line: 612-448-3243

Vince email: vince@cfgretirement.com

CFG Retirement Website: https://cfgretirement.com/

CFG Retirement Phone Number: 952-657-7470

With Thanksgiving almost here, it's hard to believe we are nearing the end of calendar year 2021.  Today Vince Oldre of CFG Retirement Group highlights 10 things you should do before December 31st, to optimize your 2021 taxes.  They are:

• Make 401(k), and HSA contributions.
• Schedule your RMD for 2021.
• Convert money from a traditional IRA to a Roth IRA.
• Contribute to a 529 Plan.
• Hold off on mutual fund purchases.
• Harvest your capital losses.
• Pick up capital gains if you're in a low tax bracket.
• Harvest losses on cryptocurrency.
• Donate cash to a charity.
• Meet with your tax advisor.

More info: https://money.usnews.com/money/personal-finance/taxes/articles/10-year-end-tax-tips

CFG Retirement Website: https://cfgretirement.com/

CFG Retirement Phone Number: 952-657-7470

Vince Oldre email: vince@cfgretirement.com

When planning for your future, it's often helpful to think about three buckets for your money - Now, Soon, and Later.  Today, Vince and Jag break down how to delegate your assets into these various buckets to optimize your financial future and retirement.

Now Bucket:

• Emergency Fund
• Planned expenses next couple years: cars, weddings, home repairs, etc
• Retirement income (if about to retire)

Soon Bucket:

• Money you can access penalty free in next few years if you need money beyond your now bucket, also protect against inflation

Later Bucket:

• Long Term Growth and Legacy planning

CFG Retirement Website: https://cfgretirement.com/

CFG Retirement Phone Number: 952-657-7470

Vince Oldre email: vince@cfgretirement.com

There are a number of proposed changes to tax law currently being debated in Congress.  And while they parameters seem to change by the day, here are some key proposals that could impact your financial future.  Vince Oldre of CFG Retirement and Jon Gay break them down into three categories:  Retirement accounts, State and Local Taxes (SALT), and Estate Taxes.

Retirement Accounts:

• New RMD rules may require distributions not just based on age, but by the total value of the accounts.
• Roth conversions, specifically "back door Roths" could become a thing of the past.   

State and Local Taxes:

• The amount of state and local taxes you can deduct from your federal return may increase

Estate Taxes:

• The 2017 Tax Cuts and Jobs Act is set to expire in 2026. This could affect the top tax bracket as well as the thresholds for estate taxes.
  • The Pass Through Deduction of 20% for business owners