financial podcast

Sam, Andi, and Luke address some of the reasons people give for putting off seeking the help of a financial retirement professional including a feeling of being overwhelmed by it, thinking they don’t have enough money, and thinking it would be too expensive.  They look at how your financial strategies should be adjusted when you’re getting closer to retirement and then break down how retirement can be more expensive than most of us think and how to prepare for that.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Sam, Andi, and Luke cite statistics from a couple of surveys that state the obvious.  Couples don’t necessarily see eye to eye when it comes to finances and retirement.  They stress the need for compromise in areas such as risk, savings, and retirement target date.  They address retiree concerns like inflation, the state of Social Security, and longevity and get back to basics with some good practices to make sure you’re on the right track to retirement.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

What happens if the worst case scenario comes true? Insurance helps you avoid that risk, but it can be its own nightmare to deal with. In this episode, we explore what each type of insurance coves and common mistakes to watch out for.  

We are Financial Design Studio: Michelle, Steve, Rob, and Trevore…We have a passion for helping others reach financial success. Part of our job is to teach you about money, so you can make educated financial choices!
Learn more about us at our website https://financialdesignstudio.com/
(Disclaimer : This podcast should not be taken as financial advice and Financial Design Studio accepts no responsibility for your individual actions or choices. For our full disclaimer, check out our podcast description.)

Luke goes on the hot seat guessing the top answers from participants in a 2023 EBRI Employee Benefit Research Institute retirement confidence survey.  We cite results on concerns of pre-retirees and retirees in their comfort level on reaching retirement and living comfortably in retirement.  Luke moves into strategies to consider in the financial red zone, 5-10 years from retirement.  He then discusses the advantages to consider when looking at the Roth IRA option.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Sam, Andi, and Luke explain the importance of building income sources in your retirement and making sure they are in line with your expected expenses.  They dive into the subject of behavioral finance and how all the components relate to retirement planning.  They also highlight ways that money could be wasted in retirement such as excessive fees, overpayment in taxes, overspending, and ignoring healthcare costs.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

We give three statements about retirement consideration and Andi and Luke out the one that is not true and explains why.  They also expand on some of the ones that are true.  They also cover valid retirement related questions that begin with the word “when” and point out areas to address in the planning process to help ease the anxiety of challenging economic times.

You can reach Duell Financial Strategies at 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Following the failed attempt to override President Biden’s veto of the Labor Department ESG investment rule, Marty explores the potential effects of that on the retirement savings efforts of Americans.  He also discusses the most recent interest rate hike.  What are red flags to watch out for when meeting with an investment advisor.  Some of these are covered here including high pressure sales, downplaying risk, and encouragement to go “all in” on one investment. 

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Sam, Andi, and Luke look at the situation in the banking sector in explaining the root causes and possible effects.  They also discuss protective strategies regarding this and the other financial challenges we face.  They cover regrets that many retirees have and how to avoid them and they clear up misconceptions in the retirement arena in areas such as Social Security, annuities, taxes, and the 4% rule.

You can reach Duell Financial Strategies by calling 866-203-9486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Do you have a retirement plan that eases the fear of running out of money?  Marty covers what to consider in helping to allay that fear including developing a spending plan, aggressively contributing to your retirement accounts, building an emergency fund, and preparing for health care costs.  He offers suggestions to help you stay on track in your retirement.  Marty stresses to not give up on the stock market but to properly allocate your risk and to consider safer alternative investment options.  If you ask a retirement professional if you are ready to retire or how much you will need in retirement, you’ll probably get some questions from them to help them ascertain.  Questions covered in this podcast include if you’ve considered a “second act” in your retirement, how important your financial legacy is to you, and if you and your spouse or partner share your retirement lifestyle vision.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Sam, Andi, and Luke go over strategies to consider in building your retirement income.  They start by discussing how retirement income building strategies are so much more important now than in the days when many people had a pension to count on.  They talk about risk tolerance, using tools like annuities, and even taking a hard look at your retirement date and your Social Security claiming age in the effort to make your money last in retirement.  They also break down the “rollover” strategies involving your 401(k), 403(b), and IRA.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Luke covers some strategies to help eliminate worrying about your retirement savings and running out of money in retirement.  Those include paying off debt, determining retirement spending needs, practicing retirement spending, and investing in the right type of insurance.  He then reveals some retirement stats related to longevity and planning for that, accessing retirement funds too early, and planning for the possibility of being forced into retirement before you’re ready.  What are signs that you may not be ready to retire.  Luke talks about those who are looking for a quick retirement fix and spending without a plan.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

There are new savings and tax opportunities that could be utilized.  Sam, Andi, and Luke cover new income tax brackets and withholdings, the raising of standard deductions, contribution limits, and the RMD age.  They offer an in depth look at annuities including the different types and the pros and cons.  They then discuss what to consider in the event of the passing of a spouse.  Topics covered include the tax implications, the changes in income, and making sure to consider avoiding decisions such as unplanned withdrawals.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Sam, Andi, and Luke discuss the impact of taxes on retirement and steps to counteract that impact.  They explain how withdrawals from retirement accounts and pensions can be taxed.  They also talk about the calculation of provisional income and how that can make your Social Security subject to taxation.  What are the milestone ages in your retirement journey?  They go over the important ages and even introduces a couple of new ones. 

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Sam, Andi and Luke hightlight mistakes to avoid in retirement planning including not factoring inflation and longevity, overestimating income, and not finding the balance of conservative and aggressive in investing.  They look at life events when it is important to consult your financial professional.  Those include job change or loss of job, marriage, divorse, loss of spouse, and caring for a parent.  Then they move into a conversation which points out how retirement of today is different from that of our parents and grandparents.  Certainly the dwindling away of the private sector pension is included along with longevity, changing habits of how and when we retire, and health care concerns that can come with a longer life.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Now that it has passed, Sam, Andi, and Luke review some of the key provisions of Secure Act 2.0 including the raising of the RMD age, additional catch-up opportunities, and expanded Roth contributions.  They look at lessons that can be learned from 2022 and how to move forward towards retirement in a stronger position and then dispel some common retirement myths.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Mark talks about possible temporary adjustments to make in the current financial storm.  He stresses the importance of making sure you have a long-term financial plan, that your portfolio is properly diversified, and understanding how inflation impacts your cash flow.

You can reach Mark Henry by calling 800-501-9805

Alloy Wealth Management

See omnystudio.com/listener for privacy information.

Mark covers retirement mistakes that could have a negative impact.  Potential mistakes covered include thinking you can beat the market, keeping all your money in cash, and putting a little money in a lot of places.

You can reach Mark Henry by calling 800-501-9805.

Alloy Wealth Management

See omnystudio.com/listener for privacy information.

Mark discusses strategies and savings tips for that time of your life when you're in the financial red zone which is five to ten years away from retirement.  He talks about funding your 401(k) to the max and re-thinking the assignments, considering adding an IRA, and not forgetting about taxes.

You can reach Mark by calling 800-501-9805.

Alloy Wealth Management

See omnystudio.com/listener for privacy information.

How do you protect your retirement and portfolio in turbulent economic times.  That is the theme of this podcast as Mark Henry discusses steps to protect yourself and your financial future.  The conversation includes topics such as building your retirement savings, taking the emotion out of investing, and most importantly having a plan with the right strategies for you.

You can reach Mark Henry by calling 800-501-9805.

Alloy Wealth Management

See omnystudio.com/listener for privacy information.

How should your retirement plan be adjusted in times of high inflation?  How should it factor in inflation at all times?  Mark answers these questions as he discusses planning for the costs of retirement and understanding the impact of inflation on your goals.

You can reach Mark Henry by calling 800-501-9805.

Alloy Wealth Management

See omnystudio.com/listener for privacy information.