Secure Your Retirement

Latest Episodes:

Aging Gracefully at Home in Retirement May 13, 2024

Show notes

In this Episode of the Secure Your Retirement Podcast, Radon and Murs speak with Lynne Moore about the concept of aging in place, comparing it to continuous care retirement communities (CCRCs). Lynn has an extensive background in geriatrics and now works with ThriveMore, an organization specializing in helping people age in place.

Listen in to learn how ThriveMore's program supports seniors in staying at home as they age while receiving necessary care. You will also learn the differences between aging in place and living in a CCRC, as well as the benefits of joining the ThriveMore program earlier.

In this episode, find out:

Lynne’s career background in geriatrics nursing and leadership and how she ended up at ThriveMore at home.
The similarities and differences between continuing care at home and living in a CCRC.
How ThriveMore's program focuses on bringing care services into individuals' homes.
The ThriveMore program details about membership fees, eligibility criteria, and benefits.
The benefits of joining the program early and the inflation protection of coverage.
Why the age-in-place program is best suited for introverts, plus how ThriveMore handles couples.
ThriveMore's vetting process for care providers and their emphasis on quality care.
Information on how you learn more about ThriveMore and explore the program.

Tweetable Quotes:

“We're arranging, coordinating, navigating, and overseeing care to ensure quality care is provided as the person needs more. And it may be short term, it may be long term, but we're bringing that care in, and in addition to that, the long-term care insurance component is underwriting the cost of that care.”- Lynne Moore
“Getting in our program earlier saves you money and helps you be ready in case something unanticipated happens with your health.”- Lynne Moore

Get in Touch with Lynn:

Website: https://www.thrivemoreathome.org/
LinkedIn: https://www.linkedin.com/in/lynne-moore-rn-lnha-cmc-caps-3a899237/

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

Downsizing In Retirement May 06, 2024

Show notes

In this Episode of the Secure Your Retirement Podcast, Radon, Murs, and Nick discuss downsizing in retirement. Scenarios such as lifestyle preferences and financial needs are what make downsizing a consideration for retirees.

Listen in to learn how we use practical scenarios to help clients visualize the potential outcomes of downsizing decisions. You will also gain insights into the importance of assessing the impact of downsizing on your retirement plan, whether it's for convenience or financial optimization.

In this episode, find out:

Some real-life scenarios where you might want to downsize in retirement.
The challenges and benefits of downsizing like monetary implications and lifestyle enhancements.
How we strategize to incorporate downsizing into a retirement plan and open up flexibility.
The importance of early assessment and strategic planning to make informed downsizing decisions.
How we simulate real-life scenarios to give you an insight into the consequences of downsizing in the future.

Tweetable Quotes:

"Downsizing may be an even exchange, but there are a lot of benefits that you pick when you make the move that you weren’t looking for 10 to 20 years ago, but now it’s something important.”- Nick Hymanson.
“It gives more flexibility into your retirement plan if you have additional cash flow and funds through your retirement.”- Nick Hymanson.

Resources:

To access the course, simply visit POMWealth.net/podcast.

Why Savvy Savers Should Spend More in Retirement - Part 2 Apr 29, 2024

Show notes

In this Episode of the Secure Your Retirement Podcast, Radon, Murs, and Taylor discuss in detail the importance of spending more in retirement as a savvy saver. Taylor provides a numerical analysis and insights into how spending habits in retirement can impact your financial plan in a scenario of a sample retired couple in their late 60s.

Listen in to learn the importance of aligning expenses with income sources and assets in retirement planning, considering inflation and the potential for increased expenses. You will also learn the importance of enjoying retirement and fulfilling bucket list items even when they require larger withdrawals.

In this episode, find out:

A practical scenario of a retired couple’s income sources, assets, and spending habits.
The steps we take our clients through when building a successful financial plan in retirement.
The importance of aligning expenses with income sources and assets in retirement planning.
Understanding strategies for accommodating increased spending in retirement.
Why you should enjoy your retirement and fulfill bucket list items with occasional larger withdrawals.
Don’t get caught up in the numbers; understand that income, assets, and expenses differ for different people.

Tweetable Quotes:

“Our job is to bring comfort to the idea that every now and then you can take a larger withdrawal to satisfy a bucket list wish you’ve been putting off for so long.”- Murs Tariq
"Although it may appear costly initially and impact retirement planning, ultimately, your efforts have led you to this point."- Murs Tariq
“Do not get caught up in the numbers; your numbers are your numbers; the relationship between what you’re spending and what you have completely differs for different people.”- Radon Stancil

Resources:

To access the course, simply visit POMWealth.net/podcast.

Why Savvy Savers Should Spend More in Retirement Apr 22, 2024

Show notes

In this episode of the Secure Your Retirement Podcast, Radon and Murs discuss the importance of spending more in retirement. The savings habits we build in our working years can unintentionally lead to a fear of spending money to enjoy life in retirement.

Listen in to learn how to shift your mindset from fear of spending and start building good habits that will lead to a successful retirement. You will also learn about the experiences and things you can spend money on, plus the importance of planning ahead of your retirement.

In this episode, find out:

● How the fear of running out of money in retirement is putting you into a fear mindset.

● How saving habits become deeply ingrained in us that it becomes difficult to spend in retirement.

● How to shift your mindset and start building good habits for a successful retirement.

● How to spend money on experiences and things that can make your life more enjoyable.

● The importance of planning ahead of your retirement to make vision financially possible.

Tweetable Quotes:

● "People often experience immense anxiety about depleting their finances during retirement, and this fear can be paralyzing, trapping them in a mindset dominated by fear."- Radon Stancil

● “We get so good at saving, and these habits get ingrained so deeply in our brains that it makes it very difficult to start spending our money, particularly in retirement age.”- Murs Tariq

Resources:

To access the course, simply visit POMWealth.net/podcast.

Do You Have All Your Eggs In One Basket in Retirement? Apr 15, 2024

Show notes

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss the meaning of portfolio diversification and why you shouldn’t put all your eggs in one basket. True portfolio diversification means spreading your money across multiple layers of different options.

Listen in to learn about the four major strategies we use to significantly diversify investment portfolios for our clients. You will also learn how we use a diversified fixed annuities portfolio for clients who want to avoid market risk.

In this episode, find out:

Understand that having multiple financial advisors/custodians doesn't give you diversification on its own.
The core strategy – how we invest based on what we think will happen in the market based on the available good data.
The tactical strategy – how we align investments based on what is working right now.
Structured notes – bond alternative low-risk investments issued by banks that yield and gain interest.
The fixed income strategy – actively managed and well diversified traditional bonds.
How we use a diversified fixed annuities portfolio for clients who want to avoid market risk.

Tweetable Quotes:

“Simply having three distinct advisors or custodians doesn't inherently provide diversification.”- Radon Stancil
“We strongly advocate that there isn't a single perfect strategy. By integrating various proven strategies, we create a robust approach that will perform effectively in the long run, particularly for individuals nearing or already in retirement.”- Murs Tariq

Resources:

To access the course, simply visit POMWealth.net/podcast.

2024 1st Quarter Economic Update for Retirement Apr 08, 2024

Show notes

In this Episode of the Secure Your Retirement Podcast, Radon and Murs speak with Andrew Opdyke about a 2024 1st quarter economic update and the expected economic changes in the second quarter. Andrew is a Certified Financial Advisor and Economist at First Trust Advisor.

Listen in to learn how the current concentration performance and the 2024 elections will impact the market volatility and economy, respectively. You will also learn about things that are bringing inflation down and why we’ll still see a relatively shallow recession this year.

In this episode, find out:

● The unexpected events that risk increasing inflation in the second half of 2024.

● Understanding the fight between strengthening the economy and keeping the pressure on inflation.

● The possible impact of the current concentration performance on the market volatility.

● How the 2024 elections will impact the economy and why you shouldn’t make investment changes based on the outcome.

● Things bringing inflation down and why we’ll still see a relatively shallow recession.

● The 2nd quarter concerns – quitting the inflation rates too soon and the huge spending numbers.

● The 2024 Excitement – the broadening out of companies and the longer-term reward of it.

Tweetable Quotes:

● “Some of the things that are bringing inflation down are because of some deterioration we’re seeing from pockets of the economy.”- Andrew Opdyke

● “Based on history, you have virtually never benefited from making significant investment changes based on the party that’s in power.”- Andrew Opdyke

Get in Touch with Andrew:

● LinkedIn: https://www.linkedin.com/in/andrewopdyke/

Resources:

To access the course, simply visit POMWealth.net/podcast.

Sequence of Returns - How It Could Affect Your Retirement Plan Apr 01, 2024

Show notes

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss the impact of the sequence of returns on your retirement plan. The sequence of returns is the risk associated with how your money makes or loses money, and it can significantly impact your retirement plan.

Listen in to learn the importance of having income safety and growth buckets to make your retirement smoother and reliable and give yourself peace of mind. You will also learn how the sequence of returns can positively and negatively impact your retirement investments and overall plan.

In this episode, find out:

● The three money buckets to set up your retirement plan to avoid the effects of the sequence of returns.

● Sequence of return – risk associated with the positives and negatives of the sequence of your returns as you get closer to retirement age.

● The most ideal and not-so-ideal ways to walk into retirement and how the latter can affect your retirement plan.

● The importance of having income safety and growth buckets to dramatically reduce the risk of the sequence of your returns.

● Two scenarios to help you understand how the sequence of returns can positively and negatively impact your retirement investments.

Tweetable Quotes:

● “The sequence of return, particularly when we’re close to retirement or already retired, is going to have a significant impact on our withdrawal strategy and ultimately our peace of mind.”- Murs Tariq

● "If you enter your retirement phase amidst a market downturn but refrain from withdrawing funds, you can afford the opportunity for it to rebound, a far less significant impact compared to withdrawing from your account during the downturn."- Radon Stancil

Resources:

To access the course, simply visit POMWealth.net/podcast.

Navigating Tax Withholding - A Guide for Retirees Mar 25, 2024

Show notes

In this Episode of the Secure Your Retirement Podcast, Radon, Murs, and Taylor discuss navigating tax withholding for retirees. When you retire, you have various sources of income, and you can choose to either withhold the tax on them, make estimated tax payments throughout the year, or do a combination of both.

Listen in to learn about your tax withholding options regarding your social security benefits, pension income, and IRA distributions. You will also learn about sources of income not eligible for tax withholding, plus how to avoid tax penalties after selling a highly appreciated asset.

In this episode, find out:

● Understanding tax withholding and how it differs from estimated tax payments throughout the year.

● The options you have when it comes to tax withholding on your social security benefits.

● The process available and information needed for tax withholding on your pension income.

● Understanding the default and other tax withholding options available to IRA distributions.

● Sources of income not eligible for tax withholding and the tax options available for them.

● Pay attention to the next estimated tax due date when you sell a highly appreciated asset to avoid penalties.

● All the information we need to know to advise you accordingly and avoid any tax surprises during tax season.

Tweetable Quotes:

● "Paying estimated taxes periodically demands foresight and a significant time commitment. Your CPA can assist you in projecting the quarterly payments necessary."- Taylor Wolverton

● "Upon retiring, there may be several years of transition as you establish diverse income streams, with social security being merely one aspect of this process."- Taylor Wolverton

Resources:

To access the course, simply visit POMWealth.net/podcast.

Investing in Uncertain Times During Retirement – Election Edition Mar 18, 2024

Show notes

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss the possible impact of the presidential election on your retirement investments. Political uncertainty causes increased volatility in the short term, and the idea here is to maintain security and peace of mind regarding your retirement plan.

Listen in to learn why combining the strategic core and tactical portfolio strategies works well in lowering risk. You will also learn how structured banknotes lower the risk for a client to have a fixed income in case of a volatile market in an election year.

In this episode, find out:

Understand that political uncertainty causes increased volatility in the short term.
How we divide the growth portfolio into the strategic core and tactical themes.
The strategic core theme –aligning the portfolio to what we believe will happen based on the economic conditions.
Tactical – a good and active risk management tool aligned to what’s working right now.
The moderate growth portfolio – how structured banknotes lower the risk for a client to have a fixed income.

Tweetable Quotes:

“There’s probably going to be a little bit of volatility in 2024, but not anything that’s going to be because of party changes or anything of the sort.”- Radon Stancil
“We have two themes in our growth model, strategic core, which is fundamentally based and tactical, which is what’s working right this moment.”- Murs Tariq

Resources:

To access the course, simply visit POMWealth.net/podcast.

How To Keep Your Mobility in Retirement Mar 11, 2024

Show notes

In this Episode of the Secure Your Retirement Podcast, Radon and Murs speak with Mercedes Fernandez about keeping mobility in retirement. Mercedes is the founder of Movement, lead Geriatric Physiotherapist, a certified senior fitness instructor, and an authorized CPR/First Aid responder.

Listen in to learn the most common mobility issues in older adults and the good habits you can develop to reduce them as you age. You will also learn how maintaining movement with simple stretches and following the right instructions with mobility aids and exercise can diminish pain and prolong your mobility ability.

In this episode, find out:

● Mercedes describes her work in the study of human body movement and her focus on older adults.

● Most common mobility issues in older adults and good habits you can develop to reduce them.

● Simple stretches you can do anywhere to diminish most of the pain you don’t even realize you have.

● How lack of instructions on how to use a mobility aid or exercise can be a fall or health hazard.

● The importance of maintaining movement as you age to prolong your mobility ability.

● How to access Mercedes, the demographic she works with, and her treatment process.

Tweetable Quotes:

● “Stretching is overlooked, but if we all learned how to stretch, we could diminish a lot of the pain that we do not even realize we’re having.”- Mercedes Fernandez

● “The best prevention and maintenance we can have is to keep moving and incorporate some type of stretching.”- Mercedes Fernandez

Get in Touch with Mercedes:

● Website: https://mouvement.info/

● Free Gift: https://mouvement.ck.page/mobility

Resources:

To access the course, simply visit POMWealth.net/podcast.