Stay ConnectedPlanning for, or already enjoying, your retirement? This is the show for you.
The success of your retirement hinges on how well you connect the dots between legal, tax, and financial planning. Join your hosts John Ross, JD and Devin Carroll, CFP® as they dig beneath the surface to help you gain the confidence and clarity needed to navigate your retirement journey successfully.
Copyright: © 2023
While we move into our new recording studio, and with all the new listeners coming on board, we are replaying an episode from 6 months ago: The Tatoo Factor and Predictions that Didn't Happen Devin shared some examples of pretty dire predictions by investment professionals, and asked David and Andrew how they would respond.
David points out that the fear of losing everything is pretty compelling – there's a natural instinct to avoid danger.
Andrew recommends that clients focus on their individual plans that has been prepared for their unique situation and risk tolerance.
For more information, visit the show notes at http://www.bigpictureretirement.net/052
Devin talks about good reasons to file for Social Security at age 62.
Every situation is different, and some folks will benefit more if they file later, but there are many people for whom it makes sense to file early:
For more information, visit the show notes at http://www.bigpictureretirement.net/episode-77-5-smart-reasons-to-file-early-for-social-security/
Devin and John welcome Brandon Renfro to talk about Real Estate Investment Trusts (REIT).
A REIT is a packaged investment product, like a mutual fund, that is invested in real estate related assets.
There are a couple of different types of REITS that you can buy.
For more information, visit the show notes at http://www.bigpictureretirement.net/076
For many, going to college is the goal, but the costs can be overwhelming. If you're a parent, or a grandparent, you've got to be thinking, "How do I keep these children from going into that hole?"
John and Devin share ideas and tips for how to make college affordable for you or your children/grandchildren.
For more information, visit the show notes at http://bigpictureretirement.net/episode-75-ways-to-pay-for-college
Devin and John continue the discussion from Episode 73: The Right Way To Qualify for Medicaid for Long-Term Care
Single person: you can have a house, you can have a car, you can have your funeral paid for, you can have $2,000.
How can you bring your assets down below the $2,000 limit? There are quite a few good options.
Now, if you're part of a married couple, you have a different set of issues.
As you can see, this stuff is really complicated.
For more information, visit the show notes at http://bigpictureretirement.net/074
What is the right way to qualify for Medicaid for long-term care expenses? Listen in as John and Devin discuss Medicaid eligibility factors, non-countable assets, and what - if anything - needs to be done with assets now to possibly protect these assets down the road.
For more information, visit the show notes at http://www.bigpictureretirement.net/073
Warren Buffett made a bet, that came to be known as Buffett's bet, that the S&P 500 would outperform any basket of hedge funds in the next 10 years. It started on the 1st day of January 2008, and was supposed to conclude at the end of 2017.
If you look the final results, the S&P annualized gain was 7.1%, which is impressive considering that this challenge started during a terrible time in the market. The group of hedge funds didn't even earn an average of 2.1% during that period of time.
It's weird that Buffett made this bet, because he has made his fortune by buying individual stocks. This bet was contrary to the way he invests personally.
Letter to shareholders In the event of his death, he directs the trustees to put 90% of the trust funds value in S&P 500 index funds.
It does raise the important question, in your own portfolios, should you just stay to with a packaged product?
For more information, visit the show notes at http://www.bigpictureretirement.net/072
This idea of dividends sounds good, but chasing yield often ends badly.
Dividends aren't guaranteed, but having the right balance for your situation can benefit you when it comes to dividend-paying stocks.
Learn what a dividend is and what to look out for when looking at dividend stocks at http://www.bigpictureretirement.net/071
Is a credit score important while you're in retirement? That depends on your situation.
For some people, maintaining good credit can continue to be valuable. For others, who won't be doing anything that requires credit, there's no need consider a credit score when making decisions.
Find out more at http://www.bigpictureretirement.net/070
Managing your retirement savings can require a lot of knowledge and decisions. Lots of folks don't want to worry about which funds to be invested in, and what asset allocation is best for them. If that sounds like you, a target date fund might be right for you.
Each fund is identified with a year, and generally you would be picking a fund that corresponds to the date when you plan to retire. They're very popular because they are easy. You can just put your money in one fund, and you're done.
The way the investments are made in the account, the closer you are to the target date, the more conservative the investments become. The further you are from the target date, the more aggressive the investments will be.
If you are considering a target date fund, there are a couple of things to figure out. For more information, visit the show notes at http://www.bigpictureretirement.net/069
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