Retirease Radio with Victor Medina CFP®, RICP®, CELA®

Latest Episodes:

Ep 216: Cleaning Out Your Financial Closet Apr 06, 2023

Show notes

In this episode, let's see what principles we can take from a closet clean-out that we can apply to our financial lives. We want to make sure you have everything set up correctly so that it's organized in a way that serves you rather than just being a collection of stuff that we've thrown in over the years.

Here is some of what you'll learn in this episode:

How our financial portfolio often becomes a closet where we just store old stuff. (1:10)
Where do you even start when you try to organize your finances? (2:54)
Is this something you can do completely on your own? (5:53)
Tips for staying organized once you declutter your financial closet. (9:08)
How Palante Wealth can help with your finances. (12:59)

About Retirease Radio:

Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

Connect:

Medina Law Group: https://www.jerseyestateplanning.com/

Palante Wealth Advisors: https://palantewealth.com/

Ep 215: Traditional vs Roth – What You Need to Know Mar 30, 2023

Show notes

Many Americans will use the IRA to save for retirement and build a nest egg that will help fund the next chapter of life. When it comes time to contribute money, should those funds go into a traditional IRA or a Roth? In this episode, Victor will discuss how to best determine the best account for your portfolio.

Here is some of what you'll learn in this episode:

The difference between the traditional and roth IRA. (2:48)
The reason why a traditional IRA has been the primary savings tool over a Roth for many years. (4:22)
3 reasons why a Roth can be such a powerful tool. (6:46)
Why you would choose a Roth over a traditional. (9:45)
Who would typically contribute to a traditional over a Roth? (11:55)

About Retirease Radio:

Connect:

Medina Law Group: https://www.jerseyestateplanning.com/

Ep 214: Why the Customer Isn't Always Right in Financial Planning Mar 23, 2023

Show notes

In nearly all of the retail, restaurant and hospitality world, the old saying is that "the customer is always right." But when it comes to financial planning, it's probably not wise to subscribe to that idea. What's the point of having a financial coach if your advice is better than your coach's advice?

Let's talk about some statements you might hear from clients that might require you to push back because the customer isn't always right.

Here are some of the statements that aren't always right:

Now is the time for me to get out of the market (3:02)
This is what I want to invest in. I just need you to pick the exact funds for me. (5:57)
I don't really need to spend money on _____ (8:05)
It's fine that my returns are great because fees are low or avoiding a good investment because fees are too high. (10:54)
My accounts are down right now. I don't think my plan is working. (13:37)

About Retirease Radio:

Connect:

Medina Law Group: https://www.jerseyestateplanning.com/

Ep 213: What's the Difference? Mar 16, 2023

Show notes

In this episode of Retirease Radio, we're going to play a little game of 'What's the Difference' and highlight some of the terms that a lot of people get confused about. Maybe they don't understand the difference between the two or maybe they don't realize that there's a difference at all.

The first step to a strong financial plan is understanding everything you're invested in and this show will help clear up some of the confusion around some pretty common strategies and investments.

Join us today to learn about these things:

The difference between Roth contributions vs Roth conversions. (2:44)
Term life insurance versus permanent life insurance. (6:52)
What classifies as a qualified account versus a non-qualified account? (11:00)
The differences between variable annuities and fixed annuities. (13:42)

About Retirease Radio:

Connect:

Medina Law Group: https://www.jerseyestateplanning.com/

Ep 212: This One's On The House… Factoring Your House Into Your Financial Plan Mar 09, 2023

Show notes

On this episode of Retirease Radio, Victor Medina explores some of the most common questions people have when it comes to homeownership in retirement.

We'll cover topics such as paying off your mortgage, downsizing to a smaller home, borrowing money through home equity lines and reverse mortgages, and navigating home-related estate planning issues.

If you're nearing retirement and have some questions about your home, we'll probably cover them in today's episode. So, tune in because this one's on the house…

Join us today to learn about these things:

Victor and Ben reflect on the crazy housing market of the past few years. (1:02)
Interest rates have gone up, but my mortgage rate is still low. Should I try to pay off the house quickly or just pay as little as possible? (2:26)
Victor walks us through what's involved in the conversation with retirees about downsizing to a smaller home. (6:03)
Is a home equity line a good place to borrow money in retirement? (9:58)
We've all seen a commercial about reverse mortgages. Are they a good or bad idea for retirees to consider? (13:40)
Lastly, Victor explores problems that tend to arise involving the house during the estate planning process. (16:44)

About Retirease Radio:

Connect:

Medina Law Group: https://www.jerseyestateplanning.com/

Ep 211: Repurposing Your Old Financial Accounts Mar 02, 2023

Show notes

If you're like most people, you probably have some financial accounts that you don't give much attention. The statements are just collecting dust in your file cabinet but they might actually be hidden gems that could be put to much better use.

On this episode of Retirease Radio, let's talk about some of the accounts that people tend to ignore for too long. Victor will lay out some planning opportunities that are worth considering because you could be earning more in some cases or saving more in others.

Join us today to learn about these things:

Three things you should evaluate in your 401(k) to determine if that money is better suited elsewhere. (1:25)
Why people are surprised that replacing your life insurance policy might be cheaper now than it was when you first purchased it. (4:18)
Why savings accounts and money market accounts present a good planning opportunity. (6:02)

About Retirease Radio:

Connect:

Medina Law Group: https://www.jerseyestateplanning.com/

Ep 210: Fear, Anger, and Blissful Ignorance: Coping with Market Turbulence Feb 23, 2023

Show notes

On this episode of Retirease Radio, we'll reflect on the extremely turbulent stock market of the past 12 months and analyze some of the common ways people cope with volatility and their different emotional responses.

We'll start with the most common reactions, fear and panic, and discuss how they can influence investment decisions. Then, Victor will help us explore additional emotional reactions like anger, numbness, blissful ignorance, and opportunism.

Join us today to learn about these things:

The danger of reacting to a fluctuating portfolio with fear and panic. (2:20)
Where Victor sees anger appears as an emotional mindset to volatile markets. "It tends to be at individuals and leaders rather than circumstances." (6:15)
Is despondency or numbness a common reaction to market turbulence? (8:30)
Can blissful ignorance be a helpful asset in your emotional toolbox? (10:50)
It's the opposite of where the discussion began as we analyze people who embrace opportunism even in the face of market upheaval. (13:20)

About Retirease Radio:

Connect:

Medina Law Group: https://www.jerseyestateplanning.com/

Ep 209: Does Your Estate Plan Have an Expiration Date? Feb 16, 2023

Show notes

Sadly, many people look at estate planning as a one-time activity (set it and forget it). While your estate plan might technically not have an expiration date, there are many times when it could end up "going bad" if not properly updated.

In this episode, Victor will take you through a few of the common scenarios that necessitate a meeting with your attorney to make sure everything is accounted for.

Join us today to learn about these things:

· People often ask how often they need to update their estate plan. (0:56)

· What pieces of your estate plan need attention if you decide to move to another state? (2:10)

· As your assets have changed, migrated or grown over the years, we'll incorporate all of them into planning. (5:16)

· What steps should you take as your family changes? (7:57)

· How often is the law changing around estate planning? (10:28)

Ep 208: Investing Like a Genius Feb 09, 2023

Show notes

People are always studying geniuses and highly intelligent people, trying to get an understanding of what makes them tick. There are specific qualities that you'll find from some of the brightest and most successful people and learning from them can help level up your investing.

So let's look at some of the common characteristics of highly intelligent people that you should apply to your financial life. Don't be afraid to ask for help from your financial advisor with understanding or utilizing each of these traits. It could make all the difference in retirement.

Join us today to learn about these things:

· Having adaptability and flexibility in financial planning. (1:30)

· Are you able to identify what you don't know and ask for help? (4:54)

· How can we learn from the financial mistakes of others? (8:17)

We help you take control of your financial future, visit www.palantewealth.com to learn more!

Make It Last - Ep 207 - Don't Plan By Yourself! Dec 17, 2022

Show notes

Most Americans are getting a failing grade in financial literacy especially revolving around retirement. Victor and Mark share the top topics people are struggling with so you can understand

Then, they will go on to discuss the insurance world, and how it can benefit retirees.

Finally, they'll talk about why it's important to have a financial advisor, even if you have a financially savvy spouse.

Are You Paying Too Much In Taxes In Retirement? Click here to download the free guide

Click here to claim your FREE Elder Law Guide

Also available on Spotify, Apple Podcasts, & Google Podcasts

Make It Last is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

Our TOPPODCAST Picks

Follow Us

Stay Connected

Retirease Radio with Victor Medina CFP®, RICP®, CELA®

Related Podcasts

Links

Stay Connected