Retirement Playbook

Ep 26: The Financial Forecast Oct 01, 2020

The change from summer to fall always gets us talking about the change in weather so we thought we’d carry that conversation over to the podcast. Join us as we provide correlations between what we see in the weather with how we prepare our finances.

Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-26-the-financial-forecast/1344/

What we discuss on this show:

2:35 – Tornadoes

5:03 – The 3 Investment Worlds

6:47 – The Jet Stream

8:42 – The Heat Index

11:10 – Black Ice

16:20 – How to prepare for your financial future.

See omnystudio.com/listener for privacy information.

Ep 25: Obsolete Retirement Planning Ideas Sep 17, 2020

There are plenty of financial planning strategies that have been passed down to each generation without losing effectiveness, but not everything can stand the test of time. Today we’ll identify five planning ideas that are either becoming obsolete or already hold little value anymore.

Read more and get additional financial planning resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-25-obsolete-retirement-planning-ideas/1338/

What we discuss today:

2:54 – The 4% Rule

6:11 – The 10-5-3 Rule

9:04 – As we age, we should transition away from stocks and into bonds for safety.

10:28 – Tagging a certain number as what you’ll need for retirement.

13:59 – You’ll need less income in retirement.

See omnystudio.com/listener for privacy information.

Ep 24: This One’s on the House Sep 03, 2020

Your home is one of the biggest assets in your financial portfolio and there are a lot of decisions to make related to real estate. Let’s talk about the conversations we have with clients about mortgages, rental properties, downsizing, and more.

Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-24-how-your-home-fits-into-retirement-planning/1333/

What we discus on this episode:

1:53 – Background on the conversation today

2:35 – Pay it off as soon as possible or slowly?

6:40 – Is it wise to downsize?

8:48 – Having the emotional attachment to your home.

10:24 – Good idea to have a rental property to generate income?

12:00 – Real estate as part of legacy planning

See omnystudio.com/listener for privacy information.

Ep 23: Awkward Conversations in Financial Planning Aug 20, 2020

In order to build a complete financial plan that meets aligns with your goals, it takes many honest conversations with your advisor. Some of those, by nature, are going to be a little uncomfortable. Let’s look at some of the more awkward discussions we have with clients during the planning process.

Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-23-awkward-conversations-in-financial-planning/1322/

On today's show:

2:10 – Our topic this week is awkward conversations.

2:54 – Dealing with a divorce.

4:50 – Determining who should be included as beneficiaries.

6:41 – Sorting out an estate.

9:43 – Changing financial advisors

14:00 – Getting emotional due to financial stress.

See omnystudio.com/listener for privacy information.

Ep 22: Understanding the 3 Qualities of Money Aug 06, 2020

Financial planning can be complicated at times so let’s try to simplify it a bit. Today we’ll break down the three qualities of money we utilize for a client’s portfolio and what type investments fit into each.

Read more and get additional financial resources here: https://retirementplaybookpodcast.com/investing/ep-22-understanding-the-3-qualities-of-money/1321/

On today's show:

1:37 – What are the 3 qualities of money?

4:13 – Is there an investment that can get all three?

7:22 – What defines liquidity?

7:52 – Examples of growth and liquidity without safety.

8:31 – Growth and safety without liquidity.

9:56 – Which of these do clients typically emphasize?

See omnystudio.com/listener for privacy information.

Ep 21: Being Honest With Yourself Financially Jul 16, 2020

Before you reach retirement, it’s important that you take an honest look at yourself and your situation. Truly understanding where you want to go and what approach you want to take to get there will help you build the best retirement plan.

Today we’ll lay out a list of questions you should ponder. Get inside your own head and determine what the answers are for each of these. That way you can have a straightforward conversation with an advisor, and that will result in the best outcome for your financial future.

Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-21-being-honest-with-yourself-financially/1315/

Today's show schedule:

1:12 – What financial issue is at the top of your list?

3:05 – What do you desire the most?

4:58 – How much of a risk taker are you?

6:28 – Do you have any investment biases?

8:33 – What did you learn about money from your parents?

10:13 – What does money really mean to you?

See omnystudio.com/listener for privacy information.

Ep 20: Declaring Our Financial Independence Jul 02, 2020

In honor of the upcoming 4th of July holiday weekend, we’re going to declare our financial independence. Join us as we lay out a list of things we want to be independent of when retirement rolls around.

Read more and get additional financial resources here: https://retirementplaybookpodcast.com/investing/ep-20-declaring-our-financial-independence/1309/

Today's show schedule:

0:36 – Happy 4th of July

2:51 – Independence from government is something to aim for in retirement

5:02 – Independent of our family

6:56 – Freedom from debt

8:48 – Be independent from employment

10:28 – Don’t be dependent on the stock market

11:20 – You need to take the time to put your playbook in place.

See omnystudio.com/listener for privacy information.

Ep 19: Financial Truth Bombs Jun 25, 2020

It’s time to blow up some of the common beliefs people have held for years to make sure you know the truth about financial planning.

Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-19-financial-truth-bombs/1302/

Today's show schedule:

1:33 – This week we’re dropping truth bombs.

2:09 – Bonds are not always as great for retirees as people think they are.

3:50 – Income taxes are currently close to historical lows. Do most people realize that?

5:52 – The hardest part of investing is managing your own behavior.

9:02 – Just because you’re an expert in your area, doesn’t mean you’re an expert in money.

11:32 – You probably have more at risk in your portfolio than you realize.

See omnystudio.com/listener for privacy information.

Ep 18: Special Edition - 3 Critical Considerations for Delta Buyouts Jun 18, 2020

If you’re a Delta employee or know someone who is, take a few minutes to listen to this special episode dedicated to the buyout offer being made by the airline. We’ll tell you what three considerations you need to make before making any career decisions.

Today's show schedule:

0:45 – Let’s start with the first consideration. Have a plan.

2:00 – Second, consider the lump sum option with a pension.

2:47 – Third, take a look at the 401k.

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Ep 17: How We Get Lost in Retirement Jun 04, 2020

Have you ever gotten lost? Not that much fun is it? Well, getting lost in the car or in the woods is a lot like getting lost in retirement planning. Let’s look at the reasons that people get lost, and then how to get back on track.

Read more and get additional resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-17-how-we-get-lost-in-retirement/1288/

Today's show schedule:

1:58 – Why we’re talking about getting lost.

2:45 – First way we get lost: Bad Tools

4:33 – Bad directions

6:46 – You zone out and lose focus.

8:45 – How do we get back on track?

10:05 – Where do you want to go?

11:19 – Don’t be afraid to ask for help.

See omnystudio.com/listener for privacy information.

Ep 16: 5 Easy Ways to Ruin Your Retirement May 28, 2020

When you spend a lot of time thinking about how to and when to retire, you don’t want to overlook these easy ways to ruin it! On today’s episode we highlight five ways you could ruin your retirement if you aren’t careful.

Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-16-5-easy-ways-to-ruin-your-retirement/1280/

Today's show schedule:

2:45 - What are some easy ways to ruin your retirement?

3:24 - Treating retirement as a destination instead of a new phase in life.

5:30 - Thinking retirement solves all your problems.

7:08 - Assuming you can determine monthly spending habits based on life before retirement.

9:14 - Doing nothing and losing your sense of purpose and enjoyment through activities.

13:04 - Investing like you’re 35 when you’re 55 or 60.

15:10 - Office update: What to expect when working with Dale.

See omnystudio.com/listener for privacy information.

Ep 15: The Customer Isn’t Always Right May 21, 2020

If you work with an advisor, are you expecting expert advice or are you expecting to be the one who is right all the time? It’s a relationship of trust as you make wise decisions together, but you might not always be “right” when it comes to making financial plans.

Today's show schedule:

1:20 - What is open right now under current restrictions?

3:27 - If the customer is “always right” then do you need an advisor?

7:34 - What if you are set on a certain trend or investment?

9:21 - What if you don’t want to spend money on something like life insurance or long-term care coverage?

11:23 - Are you really listening to the professional advice from an expert?

12:50 - Follow-through is key.

See omnystudio.com/listener for privacy information.

Ep 14: The Financial Planning Olympics May 14, 2020

Ready to suit up and compete in the Olympics? Since the 2020 Summer Olympics have been postponed, let’s keep the games going by applying it to the world of financial planing? Will your strategy and preparation help you succeed? Find out in today’s podcast!

Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/how-would-you-do-in-the-financial-planning-olympics/1266/

Today's show schedule:

0:51 - The summer Olympics have been postponed due to coronavirus.

2:31 - What would be included in the financial planning Olympics?

2:47 - Facing the marathon of inflation over the long run.

4:05 - Prepare for the hurdle of a recession.

5:59 - Make sure to keep the hidden fees down.

9:06 - Can you balance on a thin line of diversified investments?

10:51 - Are you working as a unit like the synchronized swimmers?

See omnystudio.com/listener for privacy information.

Ep 13: Does Your Financial Plan Have Pandemic Paralysis? May 07, 2020

Is financial fear and fatigue stopping you in your tracks? Let’s discuss some of the ways you can continue to move forward with your financial plan.

Today's show schedule:

1:03 - What is the latest response to the financial side of the response to coronavirus?

2:57 - Should you stop putting money into your 401(k) during this market volatility?

6:44 - Is it still worth meeting with an advisor now?

10:31 - Does this year’s retirement plan have to be put on hold?

12:32 - Are you scared to look at your accounts?

See omnystudio.com/listener for privacy information.

Ep 12: Cleaning Out Your Financial Closet Apr 30, 2020

A lot of Americans are using this lockdown time to clean up around the house so let’s channel that energy to getting our finances organized as well. We’re going to open the doors to that financial closet you haven’t looked into for some time and talk about how to get everything in order.

Read more and get additional resources here: https://retirementplaybookpodcast.com/uncategorized/ep-12-cleaning-out-your-financial-closet/1250/

Today's show schedule:

2:53 – Let’s clean out the financial closet

3:46 – Help us make sense of the analogy first.

4:43 – Every has a different way of organizing their finances.

6:12 – How can we begin the process of getting organized?

7:10 – Some other ideas for organizing.

8:14 – Budgeting is still important in retirement

9:56 – Now is the perfect time to take on some of these things.

11:41 – Do the things we have still match our goals?

See omnystudio.com/listener for privacy information.

Ep 11: Keys to Building a Sturdy Financial House Apr 23, 2020

A home is a place where we depend on for stability and security, which is similar to our financial plan. Let’s explore the similarities even further by discussing each key element for building a house and what that would equate to in your retirement planning process.

Read more and get additional resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-11-keys-to-building-a-sturdy-financial-house/1245/

Today's show schedule:

1:02 – Thoughts on the shutdown and what’s changing.

4:08 – Let’s talk about home-building.

5:47 – What if you were building a financial house.

6:10 – We begin with the foundation. What’s the financial equivalent?

7:24 – Now let’s put up our walls. That’s an investment plan.

8:22 – Your roof would be the protection portions of your plan.

9:35 – The final piece is fine-tuning and personalization, which is estate planning.

12:00 – Putting all these parts together is why a comprehensive plan is so important.

See omnystudio.com/listener for privacy information.

Ep 10: Key Things to Know About the CARES Act Apr 16, 2020

The coronavirus pandemic has impacted just about everyone from a physical, emotional or financial standpoint. Now there’s relief on the way in the form of the CARES Act. Find out what this means for you as an investor and a small business owner.

Today's show rundown:

1:05 – What is Dale doing to keep busy during the quarantine?

5:33 – Let’s look at the CARES Act a little deeper.

6:00 – Tax deadline has been pushed back to July.

7:15 – RMDs are no longer required for 2020.

8:13 – Client story about withdrawing early to pay off a mortgage.

8:55 – What if you’ve taken RMDs already?

10:09 – The recovery rebate for individuals.

11:24 – This is an interesting time for people preparing for retirement.

14:43 – Paycheck protection program for small businesses.

16:49 – Just because it’s offered doesn’t mean you should definitely do it.

See omnystudio.com/listener for privacy information.

Ep 9: Social Distancing Your Finances Apr 09, 2020

Some investment options shouldn’t be anywhere near each other because they have totally different goals. Let’s apply the popular social distancing phrase to our finances and look at four situations where these products need to stay separated.

Read more and get additional resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-9-social-distancing-your-finances/1235/

Today's rundown:

0:30 – Let’s have some fun with social distancing.

0:53 – Keep your emergency fund and the stock market separated.

1:57 – Distance life insurance and our investments.

2:44 – Distance high turnover investments strategies and after-tax brokerage accounts.

4:40 – Distance our emotions and our investments decisions.

See omnystudio.com/listener for privacy information.

Ep 8: Famous Movie Quotes & Retirement Planning Apr 02, 2020

Think about your favorite movie quote. We all have one, right? Have you ever tried to apply a financial meaning to it? Today we’ll take seven popular movie quotes and we’ll make sense of them in terms of retirement planning.

Today's rundown:

1:29 – Setting up today’s conversation.

1:41 – Quote #1 from Robin Williams in Dead Poets Society: “Carpe Diem. Sieze the Days, boys. Make your lives extraordinary.’

3:14 – Quote #2 from Arnold Schwarzenegger in Terminator: “I’ll be back.”

4:06 – Quote #3 from When Harry Met Sally: “I’ll have what she’s having.”

5:30 – Quote #4 from The Wizard of Oz: “Toto, I have a feeling we’re not in Kansas anymore.”

6:30 – Quote #5 from Groundhog Day: “Well, what if there’s no tomorrow? There wasn’t one today.”

7:18 – Dale shares a client story showing why it’s important to get your plan in order now.

8:13 – Quote #6 from A Few Good Men: “You can’t handle the truth.”

9:14 – Quote #7 from Cool Hand Luke: “What we have here is a failure to communicate.”

See omnystudio.com/listener for privacy information.

Ep 7: Mutual Funds 101 Mar 19, 2020

Mutual funds have been a popular investment vehicle for many years but how well do you understand were your money is going? Today we’ll take you through the ins and outs of mutual funds by defining the key terminology and discussing the strategy behind the investment.

Show notes and additional resources: https://retirementplaybookpodcast.com/investing/ep-7-mutual-funds-101/1193/

Today's rundown:

0:36 – Let’s talk about mutual funds today.

0:49 – What percentage of our clients owned mutual funds when they first came in to see us?

1:25 – What are expense ratios?

2:30 – On top of the expense ratio you have a turnover fee.

3:04 – Dale explains ‘loaded’ mutual funds and the difference between frontload, backload, and no load.

4:26 – What are the tax issues mutual funds can create?

5:32 – We hear a lot about ETFs now. How are they different from mutual funds?

6:42 – How often do we incorporate mutual funds into client portfolios? We start by using three investment worlds.

Helpful Info:

Website: https://www.myinvestingcoach.com/

Phone #: 952-401-1671

Email: dale@tondrykfinancial.com

See omnystudio.com/listener for privacy information.

Ep 6: Your Financial Advisor Should Have These Five Traits Mar 05, 2020

Working with a financial advisor is an important decision that isn’t usually made on a whim. Doing your research and meeting with advisors is a key part of the process to determine who best fits your needs. All financial professionals are unique but all of the good ones will have these five qualities.

Show notes and additional resources: https://retirementplaybookpodcast.com/retirement-strategy/ep-6-your-financial-advisor-should-have-these-five-traits/1178/

Today's rundown:

0:54 – 1st characteristic: Trust. How do you decide if they’re trustworth?

1:58 – 2nd characteristic: Likeability. How do you assess that?

3:04 – 3rd characteristic: Area of Expertise. Why is this important?

4:11 – 4th characteristic: Good listener

5:34 – 5th characteristic: Problem solver

See omnystudio.com/listener for privacy information.

Ep 5: Social Security Myths & Misunderstandings Feb 20, 2020

Myths, rumors and misunderstandings are pervasive in the world of Social Security. So what should you believe and what needs to be ignored? On this show, we’ll look to clear up three of the top misunderstandings about Social Security.

Show notes and additional resources: http://retirementplaybookpodcast.com

Today's rundown:

0:50 – First myth: There’s a perfect time to start collecting Social Security.

2:07 – Second myth: Social Security is going to run out of money.

3:42 – Third myth: Decisions about Social Security have nothing to do with other financial considerations.

4:31 – There’s also tax considerations regarding SS.

5:38 – Question #1: I’ve always donated to several different charities at the end of every year. Since the tax laws changed last year, it seems that it didn’t benefit me from a tax standpoint. Am I missing something?

6:46 – Question #2: I got a raise recently and I want to make sure I put the extra money to good use. Do you think I should save towards retirement or pay extra on my mortgage?

7:39 – Question #3: I’m almost 70 and I’m worried I’ll never be able to retire. I’ve always heard you need a million dollars but I only have about half that. Will I have to work forever?

Helpful Info:

Website: https://www.myinvestingcoach.com/

Phone #: 952-401-1671

Email: dale@tondrykfinancial.com

See omnystudio.com/listener for privacy information.

Ep 4: Do These Things Actually Happen to Clients? Feb 06, 2020

The world of investing and retirement planning isn’t always what it appears to be. We’re taking a look at financial scenarios that have been common at some point and explaining whether our clients are dealing with the same thing.

Show notes and additional resources: https://www.myinvestingcoach.com/

Today's Rundown:

0:44 – What our main topic is about today.

1:19 – Is this a thing: family members gathering in a room together for the reading of a will to find out who is getting what.

1:59 – You see that a lot on TV but reality is different.

2:25 – Is this a thing: someone discovers an old investment account they forgot they had.

2:47 – Dale shares a real-world example of a client discovery.

3:33 – Is this a thing: kids working their way through college.

4:42 – Is this a thing: people successfully timing the market.

5:39 – Is this a thing: people retiring but having to go back to work after running out of money.

See omnystudio.com/listener for privacy information.

Ep 3: Financial Items That Are Underrated and Overrated Feb 06, 2020

Building a retirement plan is an on-going process that changes as you progress through you career. That’s why it’s important to evaluate your portfolio frequently to see if you goals and strategies need to adjust. Let’s talk about some financial things that might need more of your attention and some others that might not be all they’re cracked up to be.

Show notes and additional resources: https://www.myinvestingcoach.com/

Today's rundown:

0:47 – Let’s talk about things that are overrated and underrated.

0:55 – Tax advantages: overrated?

2:02 – Rates of return: overrated?

4:04 – Commission-based investment accounts: overrated?

6:08 – Liquidity: underrated?

7:14 – Predictability: underrated?

8:00 – Simplicity: underrated?

Helpful Info:

Website: https://www.myinvestingcoach.com/

Phone #: 952-401-1671

Email: dale@tondrykfinancial.com

See omnystudio.com/listener for privacy information.

Ep 2: Debunking Financial Myths Feb 06, 2020

What financial statements are more myth than fact? When you look at your financial plans, are you asking the wrong questions? To make the most of your resources, it’s important to understand where

Show notes and additional resources: https://www.myinvestingcoach.com/

Today's Rundown:

0:52 - Myth: The more a financial plan weighs, the more valuable.

2:00 - Myth: A will is all I need to have my affairs in order.

3:07 - Myth: My spouse will be fine when I’m gone, they will only need half as much income anyway.

4:35 - Myth: When I retire, I need to dramatically shift from stocks to bond.

5:51 - How much money should I save to retire?

7:05 - Should I get long-term care insurance?

7:52 - How can I get the highest possible return on my money?

9:22 - Where can I pay the lowest fees for financial advice?

10:35 - What can I do to pay less in taxes this year?

Helpful Info:

Website: https://www.myinvestingcoach.com/

Phone #: 952-401-1671

Email: dale@tondrykfinancial.com

See omnystudio.com/listener for privacy information.

Ep 1: Introducing Dale Tondryk & The Retirement Playbook Podcast Jan 16, 2020

It's time to get to know your financial coach Dale Tondryk.

On this episode, co-host Ron Stutts asks Dale about his background, how he became a financial advisor and what shapes his investing philosophies. We'll give you a preview of the kinds of topics we're going to cover on future episodes and identify what we really hope you'll learn and take away from this show.

Helpful Info:

Website: https://www.myinvestingcoach.com/

Phone #: 952-401-1671

Email: dale@tondrykfinancial.com

See omnystudio.com/listener for privacy information.