Secure Your Retirement

Latest Episodes:

Andrew Opdyke - 2022 and the Economy Jan 17, 2022

Show notes

How will the economy be impacted now that 2022 is here? Covid rates are finally going down and the pandemic is slowly becoming a thing of the past, but how will that impact our economy?

The US is continuing to reopen and even though we’re still experiencing the aftermath of the pandemic- the inflation rates and the markets are getting back to how they’ve historically been.

In this episode of the Secure Your Retirement podcast, we have Andrew Opdyke, a Certified Financial Advisor, Economist at First Trust Advisor. He explains how the 2022 midterm elections are likely going to affect our economy in terms of tax hikes and the stimulus.

In this episode, find out:

The positives witnessed in 2021 – the Covid and market situation and what to expect in 2022.
The expected supply chain progressiveness, which might move the inflation rate later in the year.
How policy changes and the political climate will likely impact our economy in 2022.
Why the market is getting tougher and how that will affect the S and P companies.
Expect the markets to look more like they have historically and not at the same pace they have over the last 2-3 years.
What the feds need to do to avoid significant market volatility in 2022 and possibly 2023.
Andrew’s surprise of 2021 on how well companies performed and technological progress.
Why he’s excited to get back to fundamentals in 2022, and a possible industrial breakthrough.

Tweetable Quotes:

“Politics is going to play a big role this year on whether or not we get tax hikes and additional stimulus coming into the system.”- Andrew Opdyke
“We should reset expectations for 2022 and expect the markets to look more like they have historically, high single digits into low double digits for market growth.”- Andrew Opdyke

Get in Touch with Andrew:

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

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.

2022 Retirement Issues to Consider Jan 10, 2022

Show notes

Are you wondering what you can do now at the beginning of this year to prevent you from scrambling at the end of it?

Whether you’re in the retirement or accumulation phase of your life, it is important that you have goals for the new year. Writing down your goals increases your chances of achieving them.

In this episode of the Secure Your Retirement podcast, we talk about your 2022 financial goals to help you maintain an active retirement plan. We cover why topics on cash flow, emergency funds, taxes, and debt should be considered as part of your 2022 issues to look into.

In this episode, find out:

● Take a moment and write down the top 3-5 goals you have this year.

● Consider how your goals will affect others even as you think of how they’ll affect you.

● Set attainable short-term goals not to overwhelm yourself.

● Documenting your goals makes it easier to hold yourself accountable and accomplish them.

● The things to think about to get your cash in order when you’re in the accumulation phase.

● The strategies to consider with your RMDs and QCDs as a way of managing your cash flow.

● Reevaluate your emergency fund when it overgrows and invest in an earning account.

● Review your risk tolerance and understand that you can become more or less risky at any moment.

● Take advantage of the current low tax environment and look into mortgage refinancing.

● Come up with a plan to attack any debt you have unless it’s a mortgage.

● Plan and be ready to file your taxes in April on the normal tax date.

● Review your estate plan and ensure you have a power of attorney and healthcare power of attorney in place.

Tweetable Quotes:

● “Really understand what your risk tolerance is and realize that it can change, you can become riskier and you can become less risky.”- Radon Stancil

● “You never want to miss an RMD; there’s a significant penalty for missing an RMD, so if you’re above age 72, think about your RMD.”- Murs Tariq

Resources:

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

Dan Sheeks – A Teenager's Guide to Achieving Financial Freedom Jan 03, 2022

Show notes

Are you a teenager with the goal of achieving financial and time freedom before the retirement age? Or maybe you’d like for your teenager to consider following this path?

There are different paths that young people can learn about and adopt to build their financial future without following the traditional “9 to 5 then retire” path. Dan explains how teens can start getting involved with finances early to build a financially free future as is written in his book.

In this episode of the Secure Your Retirement podcast, we have Dan Sheeks, a high school teacher well-known in personal finance and author of First to a Million: A Teenager's Guide to Achieving Early Financial Independence. We cover how financial freedom can lead to time freedom that allows you to decide where you want to spend your time doing what you want.

In this episode, find out:

Why Dan wrote a book to help young people make better financial decisions and set themselves up for a bright financial future.
The F.I.R.E Movement (Financial Independence Retire Early) – how to be financially free before the retirement age.
The few things you can do as a parent to motivate your teenager to actively think about their financial future.
The value of adding your teen onto your existing credit cards as an authorized user to build their credit while you oversee their spending.
How 18 and over teens can grow their credit through responsible credit card use.
How the First to a Million book and workbook opens teenagers up to different life and financial paths as opposed to the traditional ones.
Dan’s online community connects teens to other financially like-minded young people.

Tweetable Quotes:

“You can’t make a young person want to learn about money and their financial future.”- Dan Sheeks
“As parents, we should be adding our teenagers onto our existing credit cards as an authorized user.”-Dan Sheeks
“There’s no loophole or shortcut to building the length of credit history- that just takes time.”- Dan Sheeks

Get the Book or Join the Community:

The Books: http://biggerpockets.com/teen
The community: https://www.sheeksfreaks.com/

Resources:

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

What To Consider About Long-Term Care Dec 29, 2021

Show notes

Is long-term care something you’re thinking about or a conversation you’re having with your loved ones? It is important that you know all the risks involved and the options you have when it comes to long-term care.

You have to keep in mind that long-term care, be it nursing homes or assisted care living is very expensive.

In this episode of the Secure Your Retirement podcast, we talk about long-term care as part of your retirement financial plan. We cover your options from self-insuring to traditional long-term care insurance and the best viable one for you.

In this episode, find out:

The big ANNOUNCEMENT on continuing to offer you value.
The long-term questions you need to understand options for.
Understanding how the basic numbers are, for nursing homes and assisted care living.
Self-insure – funding your long-term care and taking life insurance so you don’t take away from your children.
Traditional long-term care insurance – why most people are not looking into it plus some hybrid policies options you can look into.
The process we use to help clients have the long-term care conversation and the potential risks.

Tweetable Quotes:

“It’s really optimal if you’re paying life insurance premium because in reality, if you’re going to leave money behind, it’s actually the greatest way to leave money behind because the beneficiaries get all of the death benefit 100% tax-free.”- Radon Stancil
“What we’re doing in our plans in every situation is all based on your numbers, goals, and scenarios.”- Murs Tariq

Resources:

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

Wine Down - Secure Your Retirement Podcast Memories Dec 27, 2021

Show notes

What were your favorite moments or highlights of the Secure Your Retirement Podcast in 2021? Whatever episode(s) you liked better, we hope it was informational and fun for you.

In this episode of the Secure Your Retirement podcast, we have Laura, Nick Hemmingsen, and Morgan Dunn to share what their 2021-episode highlights were over a glass of La Marco Prosecco wine. Listen in to learn more about our favorite episodes, why we liked them the most, and why you should go back and listen if you haven’t already.

In this episode, find out:

Ep. 35 – Andrea Groon on the impact of your diet on your physical and mental health.
Ep. 80 – The take and risks to consider when going for cryptocurrency investing.
Ep. 39& 71 – Learning art and retirement, plus some grilling lessons from the grill like a chef episode.
Ep. 26 + a few more on the breakdown on annuities to help you understand the subject.
Ep. 17& 19 – reverse mortgages plus buy & hold.
Ep. 129 – the concept of CCRC, how they work, and why the conversation is important.
Ep. 97& 86 – information on social security and life insurance.
Why do we focus on the fun side of retirement on top of the “boring stuff”.

Tweetable Quotes:

“You can invest in cryptocurrency if you’re willing to lose it; you just have to be willing to lose it.”- Radon Stancil
“Start the CCRC conversations right now so when it comes to that time you already know what everybody wish is, and how to carry things out.”- Morgan Dunn

Resources:

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

Retirement Before Medicare Dec 22, 2021

Show notes

If you’re considering retiring before the Medicare age of 65, there are a few things you need to know.

When thinking of early retirement, it is important that you consult a financial professional to help you put together a spreadsheet on the factors to consider.

In this episode of the Secure Your Retirement podcast, we talk about retirement before Medicare and the factors to consider before doing so. Listen in to learn when it’s beneficial to wait for age 70 to take your social security and when it’s not.

In this episode, find out:

● Understanding what it means by saying retirement before Medicare.

● The factors to consider when it comes to your healthcare when you choose to retire before Medicare.

● The difference between doing calculations on your own versus using a professional.

● When you’re eligible to take your social security and whether or not you should wait to take it.

● Don’t try to create a spreadsheet alone and instead consult professionals like us to help you make it easier.

Tweetable Quotes:

● “If you retire before 65, you’re not eligible for Medicare.”- Murs Tariq

● “When you’re doing this on your own sometimes, it’s hard to make those calculations.”- Radon Stancil

Resources:

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

How to Create an Estate Plan Without the Stress Dec 20, 2021

Show notes

Do you find the idea of creating an estate plan overwhelming and time-consuming?

It is crucial that we make time with our spouses and have a conversation around estate planning because it’s about our children. We mostly spend our lives building wealth and preparing for retirement and forget to plan for when we’re not here, which is inevitable.

In this episode of the Secure Your Retirement podcast, we have Andres Mazabel, a business development manager who helps families protect their loved ones by creating an estate plan. We cover the importance of an estate plan, the process of preparing and creating one, and much more.

In this episode, find out:

Why lack of education, high cost, and fear of conversations around death stop people from preparing an estate plan.
Why you should make the selfless decision to create an estate plan.
The most common documents you need to have in order to start creating your estate plan.
The two most common situations when an estate plan is crucial.
Andres explains how they provide education and help families through their estate planning journey.
Keep in mind that you can always make changes to your estate plan when you need to.
The meaning of an estate plan being state-specific plus how Andres keeps up with any language/law changes for his clients.
Understanding when to look into updating your estate plan.
The time and process it takes to input information and execute an estate plan.

Tweetable Quotes:

“It is a heavy decision, a heavy conversation to have with your spouse, but do you want to make that decision, or do you want a judge at a court to make that decision?”- Andres Mazabel
“At the end of the day, estate planning is about making it easier for your loved ones, not for you.”- Andres Mazabel
“Your estate plan can evolve as your life changes.”- Andres Mazabel

Resources:

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

How to Have Peace of Mind During Troubled Times Dec 15, 2021

Show notes

As the new Covid variant “Omicron” starts to spread like wildfire, are you protected enough? Can you manage that bad news and still maintain your peace of mind?

We often do the asset allocation/buy and hold strategy because that is what was introduced to us, and we don’t know any better. Achieving your peace of mind means that your investment’s risk is being actively managed at any point in the market using real data, and you’re not in danger of losing any significant amounts of money.

In this episode of the Secure Your Retirement podcast, we talk about your peace of mind during a market fall and how you can achieve it by actively managing your assets. We also explain the difference between a data-driven investor and an emotional-driven investor.

In this episode, find out:

Our goal is not perfection, but your peace of mind, a decent rate of return, and for you to lose less money.
The common buy and hold/asset allocation strategy and how it can be significantly affected by a market fall.
How we actively manage the markets with good risk management.
How we protect our clients against significant loss during a crisis by use of real data rather than our emotions.
The feedback we got from our clients on how we handled their investments during last year’s market fall.
For more information about peace of mind read our book Secure Your Retirement plus other resources.

Tweetable Quotes:

“Our main goal is peace of mind and to make a decent rate of return and not lose significant amounts of money.”- Radon Stancil
“Our clients and ourselves feel so comfortable with this active approach because we don’t have to know what’s going to happen tomorrow, we’re going to react based of what’s happening today.”- Murs Tariq

Resources:

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

Steven Jarvis - Tax Planning for Retirement Dec 13, 2021

Show notes

Did you know that you might end up spending more on taxes after retirement due to a lack of proper tax preparing and planning strategy?

It is important that you proactively do tax preparation outside of the tax deadline and plan your taxes as part of your retirement planning.

In this episode of the Secure Your Retirement podcast, we have Steven Jarvis, a CPA, owner of Retirement Tax Services, host of the Retirement Tax Podcast, and is very knowledgeable in tax planning. We cover the topics of Roth conversions and tax rates going up in 2022 and how you can navigate that with the help of a financial advisor.

In this episode, find out:

● The disadvantages of using tax software when it comes to complex tax planning.

● What a lot of people think about taxes and how tax preparation and planning can help you get tax benefits.

● Things to look into outside of the tax deadline to proactively and impactfully plan tax.

● Steven explains how he approaches the topic of Roth conversions and tax rates going up.

● The value of proactively finding ways to take away the IRS’s ability to change the rate on your tax-deferred money.

● Understanding the proposed tax changes that might happen come 2022.

● Steven on how he partners with financial advisors to help taxpayers do tax preparing and planning.

Tweetable Quotes:

● “If tax rates don’t change, it doesn’t matter if you do tax-deferred or Roth, the math works the same.”- Steven Jarvis

● “The tax code is written in pencil; congress can change it any time they want.”- Steven Jarvis

Get in Touch with Steven:

● Website: https://retirementtaxservices.com/

● LinkedIn: https://www.linkedin.com/in/steven-jarvis-cpa-ba91aa23/

Resources:

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

Federal Reserve, Inflation and the Economy Dec 08, 2021

Show notes

Jerome Powell is known to be a proponent of printing money. And as debates on him heading the Federal Reserve come to the surface, you might, as investors, find it easy to be wooed by headlines and make your financial decisions out of emotions (and break away from the numbers game).

In this episode of the Secure Your Retirement podcast, we discuss why investing out of emotions could be a bad idea and why instead, you need to go by the numbers and experience when evaluating the financial market. We also resolve your conflicts on the state of the economy if Jerome Powell becomes the Federal Chairman for the upcoming four years (in short, we'd say it really shouldn't matter to you as an investor) and how to secure your investment against any possible inflation (if it may).

In this episode, find out:

Two aspects of your finance that need to be actively managed right now to secure your retirement: Your investments in the market and your overall retirement plans in the market.
The three major categories of finances of the Federal Reserve: Equity, Stocks, and Cash.
Why you need to keep your emotions away for effective investing and retirement planning
Inflation and the Economy: Why the results of an election are mostly never an indication of how the financial markets will perform
How the two of us separate the emotion from the reality of what's happening in the market
Why shift is inevitable in the financial space: While during the pandemic, only large-cap companies like Amazon, Zoom, and technological companies were blooming, now, many small-cap and mid-cap companies have started to recover and thrive too.

Tweetable Quotes:

● "For the people that believe printing money is going to produce a good return in the market, that has a lot of people excited. Now, there's another side that says this idea of printing money is not good, long term. And it's going to create big time inflation."- Radon Stancil

Resources:

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