Why The Meaning of Retirement Continues to Change With John Diehl (Ep.8)

Pull up a chair and pour yourself a fresh cup of coffee! You're about to join an enlightening conversation that's brewed to perfection, featuring a blend of market insights, personal finance strategies, and estate planning wisdom. Coffee with Riverbend is where your financial curiosities meet correct answers in a friendly, engaging atmosphere.

📊 What's on the Menu? In this episode, we're diving deep into topics that touch the core of our financial well-being and future security:

• Rate Cuts: Travis Smythe untangles the complex interplay between Federal decisions, market expectations, and what it means for your investments.
• Inflation Trends: Discover whether inflation is cooling off or persisting, and how this impacts your purchasing power and savings.
• Asset Protection in SC: Tripp Wiles shares his legal expertise on safeguarding your assets, highlighting the nuances of South Carolina laws.
• Estate Planning Insights: Learn about common pitfalls in estate planning and proactive steps to avoid them, ensuring your legacy is secured.
• Looking Ahead: Get ahead of upcoming changes in law and finance, preparing yourself and your estate for the future.

📢 Meet Our Speakers:

Travis Smythe, CFA®, CIPM Portfolio Manager & Committee Member

📧 Email: tsmythe@stratosinvestmentmanagement.com

📞 Phone: (440) 505-5702

Tripp Wiles Attorney and Counselor at Law, Chief Executive Officer at Wiles Law 

📧 Email: tripp@wileslawfirm.com

📞 Phone: 843-718-0232

📢 Meet The Host:

Jeremy Finger Founder and CEO of Riverbend Wealth Management 

📧 Email: jeremy@riverbendwm.com

📞 Phone: 843-970-1049

We all know about Warren Buffett's incredible success in investing, but have you heard of Charlie Munger? 

He's been a major force behind the success of Berkshire Hathaway, and we've got some of his most inspiring quotes to share. 

In this episode, Jeremy Finger, CFP® shares 24 inspiring quotes from the book Poor Charlie's Almanack, written by Charlie Munger. Listen in as Jeremy talks about the importance of avoiding impulsive investment decisions and being open to learning new things.

Gain insight into:

• The importance of waiting and avoiding impulsive investment decisions

• Why you should avoid being a "know-it-all"

• The importance of living within your means 

• Why people should be cautious when considering investment opportunities

• The dangers of envy, resentment, and self-pity, and emphasizes the importance of taking responsibility for your actions to move forward in a positive way

• And more!

Resources

• Retire Happy Podcast Ep. 23: Saving for Retirement, Part 2: After You Plan

• Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger

Connect with Riverbend Wealth Management:

• Riverbend Wealth Management

• 15 Minute Phone Appointment

• LinkedIn: Jeremy Finger

• Facebook: Jeremy Finger Riverbend Wealth Management

• Twitter: Jeremy Finger

So you have your retirement plan, now what?

In this episode, Jeremy Finger goes over some of the important things to think about when it comes to generating income and retirement to help you make the next right decision.

Jeremy discusses:

• Why calculating your longevity is so important when making retirement decisions

• Why the 4% rule doesn’t work and how dynamic withdrawals can better suit your lifestyle

• Why who you spend your time with matters more than what you spend your time doing

• Why retirees need at least 12 months of emergency cash

• How to take money out of your retirement accounts in a tax-efficient way

• And more

Resources

• What You Need To Start Preparing For At Age 50 (Ep.17)

• Tax Planning For Retirement (Ep.10)

• How To Be Tax Efficient In Retirement (Ep.11)

Connect with Riverbend Wealth Management:

• Riverbend Wealth Management

• 15 Minute Phone Appointment

• LinkedIn: Jeremy Finger

• Facebook: Jeremy Finger Riverbend Wealth Management

• Twitter: Jeremy Finger

• Jeremy@Riverbendwm.com

• Call: (843) 970-1049

When saving for retirement, the first step is making sure you have at least three to six months of emergency cash. 

And then what?

Discover the steps to planning your retirement on this episode of the Retire Happy Podcast as Jeremy Finger, CFP® shares the basics you need to know when starting your journey into retirement.

Take notes and listen in to learn about: 

• The importance of having an emergency cash fund in case of unexpected challenges

• Why you should put your savings into an interest-accruing account 

• How to benefit from contributing to a health savings account/401k through your employer

• And more

Resource:

• Episode 2- Health Savings Account, Like An Extra ROTH IRA, But BETTER!

Connect with Riverbend Wealth Management:

• Riverbend Wealth Management

• 15 Minute Phone Appointment

• LinkedIn: Jeremy Finger

• Facebook: Jeremy Finger Riverbend Wealth Management

• Twitter: Jeremy Finger

Fiduciaries have a legal obligation to act in your best interest. Today, we’re diving into why fiduciaries are so important in the financial world.

In this episode, Jeremy Finger, CFP®, covers everything about financial fiduciaries. He explains what a fiduciary is, why it’s an important quality in a financial advisor, and how to tell if a financial advisor is a true fiduciary.

Jeremy discusses:

• What a fiduciary is and why it’s important to have a fiduciary financial advisor

• What the 4 different types of financial advisors are

• What to look for when choosing a financial advisor

• Some questions to ask your financial advisor

• And more

Resources

• Fiduciary Definition: Examples and Why They Are Important

Connect with Riverbend Wealth Management:

• Riverbend Wealth Management

• 15 Minute Phone Appointment

• Call the office: 843-970-1049

• Linkedin: Jeremy Finger

• Facebook: Jeremy Finger Riverbend Wealth Management

• Twitter: Jeremy Finger

Many people want to downsize or buy a second home when they retire, but what things do they need to think about before they purchase real estate?

In this episode, Jeremy Finger, CFP®, talks about things to consider when buying real estate in retirement with Greg Harrelson, the owner of Century 21 Harrelson Group.

Greg discusses:

• What questions he asks home buyers when assessing the next steps in the purchasing process

• The available options for people moving from up north down to Myrtle Beach

• How to overcome complications of buying a home in South Carolina when selling a home up north or in another state

• How someone can develop a network when they’re new to the area

• The drawbacks of searching for real estate online compared to working with an agent

• And more

Connect with Greg Harrelson:

• YouTube: MyrtleBeachProperty

• Facebook: Myrtle Beach Real Estate Sales

• Facebook: Greg Harrelson

• Twitter: Greg Harrelson

• LinkedIn: Greg Harrelson

• greg@c21harrelson.com

Connect with Riverbend Wealth Management:

• Riverbend Wealth Management

• 15 Minute Phone Appointment

• Linkedin: Jeremy Finger

• Facebook: Jeremy Finger Riverbend Wealth Management

• Twitter: Jeremy Finger

About Our Guest: 

Greg Harrelson began his real estate career nearly 25 years ago. He and his dad started Century21 The Harrelson Group in Myrtle Beach in 1999. He has helped more than two thousand clients buy and sell homes in the Myrtle Beach area. Now he focuses on attracting agents into his office and developing them into top producers. Greg's team has consistently been ranked the #1 Sales Team in Myrtle Beach since its inception.

Have you heard of the Secure Act 2.0?

In this episode, Jeremy Finger, CFP®, goes over the Secure Act 2.0 and focuses on the important changes that affect those over 50 years old and those who are retired.

Jeremy discusses:

• What the benefits are of the Secure Act 2.0 for retirees

• The increased maximum for 401(k) catch-up contributions

• What changes have been made to converting finances in 529 plans to the beneficiary’s Roth IRA

• The different benefits between itemized deductions and a qualified charitable distribution (QCD)

• And more

Resources:

• Ferris Bueller’s Day Off “Anyone, anyone” Clip

Connect With Riverbend Wealth Management:

• Riverbend Wealth Management

• 15 Minute Phone Appointment

• Linkedin: Jeremy Finger

• Facebook: Jeremy Finger Riverbend Wealth Management

• Twitter: Jeremy Finger

Have you fully planned your estate, did you consider everything you need to? A lot of people overlook important aspects of their estate.

In this episode, Jeremy Finger, CFP®, speaks with Tripp Wiles, an Attorney, and Counselor at Law of a full-service Estate, Tax, and Business Planning firm, Wiles Law. Tripp shares how he helps people think about the next level of estate planning and discusses a number of considerations you should think about when the time comes to plan your estate.

Tripp discusses:

• How he helps people think about the next level of estate planning
• What the spousal tax exemption is and how to make sure you don’t lose it
• What a lifetime inheritor’s trust is and why it’s important to consider when planning your estate
• Why so many people often lack the third thing estate planning revolves around, control
• And more

Resources:

• Forgotten Raiders of ‘42 by Tripp Wiles
• NY Times Article: Finding Out your Power Of Attorney Is Powerless

Connect With Tripp Wiles:

• 843-718-0232
• tripp@wileslawfirm.com
• WilesLawFirm.com

Connect With Riverbend Wealth Management:

• Riverbend Wealth Management
• 15 Minute Phone Appointment
• Linkedin: Jeremy Finger
• Facebook: Jeremy Finger Riverbend Wealth Management
• Twitter: Jeremy Finger

About Our Guest: 

M. Emerson “Tripp” Wiles, III was born in Charleston, South Carolina, and was raised in Tennessee. He graduated from The Citadel with a B.A. in Political Science and holds an M.A. from Hawaii Pacific University in Diplomacy and Military Studies. Tripp earned his Juris Doctorate from the University of Memphis Cecil C. Humphreys School of Law. He is a former Army officer and served in Germany and Macedonia. After serving in the Army, Tripp worked as a research analyst for both the U.S. Army Central Identification Laboratory-Hawaii and the Defense POW/Missing Personnel Office. Tripp authored the book Forgotten Raiders of ‘42. In December 2013, Tripp was appointed by Governor Nikki R. Haley to serve on the Charleston County School Board and was later elected for another term. Over the past decade, Tripp has assisted hundreds of individuals in protecting their families and preserving their legacies through customized estate plans. Tripp enjoys spending time with his wife and children.

If you’re nearing 50, you need to start preparing for retirement.

In this episode, Jeremy Finger, CFP®, talks about how you can get started and what you need to get in order before you retire. He talks about the importance of making full use of the retirement plans you have available, health savings accounts, 401k matching, paying down debt, and living within your means.

Jeremy discusses:

• Why goal-setting is important when planning for retirement
• Tackling debt before retirement
• The 401k contribution being increased in 2023
• The benefits of a health savings account
• And more

Connect with Riverbend Wealth Management:

• Riverbend Wealth Management
• 15 Minute Phone Appointment
• Linkedin: Jeremy Finger
• Facebook: Jeremy Finger Riverbend Wealth Management
• Twitter: Jeremy Finger

Not many people know about the options available to them when working with a smaller local bank compared to larger financial institutions.

In this episode, Jeremy Finger, CFP®, speaks with David Anderson, president and CEO from the Anderson Brothers Bank in Mullins, South Carolina. He talks about the differences between small banks and other larger banking institutions from a consumer perspective. They discuss the crazy interest environment and what David thinks might happen in the near future. 

David discusses:

• The crazy interest environment we’re currently dealing with and what might happen in the future
• Why retirees and business owners might prefer working with smaller banks
• The history of the Anderson Brothers Bank and how they have avoided being purchased by larger financial institutions
• The culture, community, mission, and values at Anderson Brothers Bank
• And more

Connect with David Anderson:

• 843-464-6271
• Anderson Brothers Bank
• LinkedIn: Anderson Brothers Bank
• LinkedIn: David Anderson

Connect with Riverbend Wealth Management:

• Riverbend Wealth Management
• 15 Minute Phone Appointment
• Linkedin: Jeremy Finger
• Facebook: Jeremy Finger Riverbend Wealth Management
• Twitter: Jeremy Finger

About Our Guest: 

David Anderson is the President and CEO at Anderson Brothers Bank. The Anderson Brothers Bank has been family owned since 1933 and David has worked there since the beginning of his career in 1979, for 43 years.