Secure Your Retirement

Latest Episodes:

Wine Down - Mortgages - Fear Selling - Getting Hacked Sep 27, 2021

Show notes

Do you have questions about retirement planning that you want to be answered over a glass of wine?

In this episode Secure Your Retirement, we have our monthly wine down episode where we answer a few questions surrounding retirement planning as we enjoy some 19 crimes cabernet sauvignon wine. We cover questions on mortgages, the best asset mixes, whether to sell stocks and how to avoid getting hacked.

Listen in to learn why some of these things need an individualized approach with the help of a financial professional.

In this episode, find out:

Have your numbers analyzed before deciding to pay or not to pay off your mortgage.
Why there isn’t the best asset mix, and you should instead have an active retirement plan.
Our review on the 19 Crimes, cabernet sauvignon wine of the day.
The precautions to put in place to ensure security and avoid getting hacked.
Why you shouldn’t make your money decisions based on your emotions.
Have an investment strategy that you’re comfortable with and don’t rush to sell your stocks.

Tweetable Quotes:

“I don’t think there is the best asset mix out there for anyone, you just have to have something that is going to work actively for you.”- Murs Tariq
“We all hate to change passwords, but that would at least make it more difficult for somebody to hack and listen to/watch your emails.”- Radon Stancil

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.

10 Step Layoff Survival Guide Sep 22, 2021

Show notes

Are you worried about the idea of a layoff happening to you? Whether you’re close to retirement or know someone at risk of getting laid off, this guide is for you.

Covid has made layoffs quite common with everyone but especially with people who are almost at the retirement age. Layoffs can be very stressful but with the right information, you can navigate your way through them.

In this episode of the Secure Your Retirement podcast, we share 10 steps on how to survive a layoff. Listen in to learn the importance of seeking professional help to come up with a suitable retirement financial plan after a layoff.

In this episode, find out:

Keep calm and take it one step at a time to make the best decision for yourself.
Determine your living expenses by coming up with a spending plan.
Create an inventory of your resources/assets to know what you own.
Add in severance pay – think it through before you accept it.
Understand how the unemployment benefits work.
Learn about your health insurance options, especially if you’re unqualified for Medicare.
Get a new social security estimate to help you decide on an income possibility.
Consider a lump-sum payment from your pension.
Determine if you want to go back to work or have enough money to retire.
Seek professional help to give you confidence with a retirement financial plan.

Tweetable Quotes:

“It may be difficult, but you want to leave your employer on the best foot you possibly can.”- Murs Tariq
“Don’t just quickly accept your severance, make sure that you think that through.”- Radon Stancil

Resources:

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

Chess Griffin - Special Needs Trust - What You Need to Know Sep 20, 2021

Show notes

Do you have plans to set up a special needs trust for your child or a loved one?

A special needs trust is a special type of trust set up to still take care of a person with healthcare needs without disqualifying them from other benefits. This trust which is sometimes referred to as a supplemental needs trust is set up by a third party to supplement for other governmental benefits.

In this episode of the Secure Your Retirement podcast, we have Chess Griffin to talk about a special needs trust and what you need to know before setting one up. Chess Griffin is a well-known estate planning attorney who is very knowledgeable about trusts.

In this episode, find out:

Understanding the meaning and purpose of a special/ supplemental needs trust.
The special needs trust is set up to give the trustee the broad power to distribute as needed.
Why special needs language can be added into a trust to help implement it in the future.
How the special needs trust covers the bases whether a child has special needs or not.
How to choose a trustee for your special needs child for when you’re gone.
Why you should avoid funding a special needs trust with retirement accounts.
How to handle the investment side of a special needs trust as a trustee.
Why it is important to thoroughly think about who the trustee is going to be.
Why it’s complicated to set up a first-party trust.

Tweetable Quotes:

“Whether it’s a special needs trust or your regular old revocable trust, a trustee has a fiduciary duty to manage the trust assets in a prudent way.”- Chess Griffin
“The special needs trust is set up to give the trustee broad power to distribute as needed.”- Chess Griffin

Get in Touch with Chess:

Website: http://www.chessgriffin.com

Resources:

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

Fees, Commissions, and Being a Fiduciary Sep 15, 2021

Show notes

Have you asked questions about payment to that financial advisor you’re considering hiring? When it comes to hiring a new financial advisor, it is important to ask and understand how they’re getting paid.

Whether they’re getting paid through commission or fees, they should disclose that information with ease. It’s always good to know the type of fees you’re getting into.

In this episode of the Secure Your Retirement podcast, we talk about how advisors can get paid through fees and commissions. Listen in to learn about fiduciary and why it is important to ensure the financial advisor you hire is also a fiduciary.

In this episode, find out:

· Why you should ask your financial advisor how they’re getting paid to understand fees.

· How advisors used to be paid commissions on stocks and mutual funds brokering.

· How advisors charge on an hourly basis/flat rate or a percentage of assets they’re managing.

· Fiduciary – someone making decisions for you before they make decisions in their favor.

· The importance of working with a fiduciary and asking that question before hiring an advisor.

· The difference between legal and assumed fiduciary.

· Ways that can hold an advisor to a fiduciary standard and suitability.

· Ensure you properly understand an investment when not working with an independent advisor.

Tweetable Quotes:

· “The big thing here is someone that is working in your best interest, making decisions for you regardless of how it’s going to affect them.”- Murs Tariq

· “Fiduciaries a lot of time will keep things very clean so they don’t have to disclose things like paid recommendations.”- Radon Stancil

Resources:

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

Lynn Cherry - Learning the Game of Pickleball Sep 13, 2021

Show notes

Have you heard of the pickleball sport? It’s a sport that you might find interesting if you’re getting close to or are already in retirement.

Pickleball with its low entry cost and easy accessibility into the community is the perfect sport for your retirement plan. The sport has many social and health benefits, which include weight loss, and is increasingly becoming popular with people of all ages.

In this episode of the Secure Your Retirement podcast, we have Lynn Cherry talk about pickleball as the perfect sport to join pre and during retirement. Lynn is a pickleball player and enthusiast who enjoys the sport and even has a podcast to help others understand it too.

In this episode, find out:

Lynn on how she got into pickleball and found it interesting.
The similarities and differences between tennis and pickleball sports.
How the pickleball court size allows less movement and is perfect for people with knee issues.
Why pickleball environment and technique make it a great social sport.
Lynn describes the double bounce rule in pickleball.
The low entry cost and accessibility into the pickleball sport and community.
How Covid has prompted younger generations to start participating in pickleball.
The history of the name and game of pickleball.
How to set up the net plus where to get the pickleball equipment.
Lynn’s Pickleball Fire podcast where you can learn more about pickleball.

Tweetable Quotes:

“One of the greatest things about pickleball is even if you’ve never played a sport, you can pick it up the very first time and have a good time.”- Lynn Cherry
“Pickleball is one of the sports or activities that cut across generations.”-Lynn Cherry

Get In Touch with Lynn:

Website: https://pickleballfire.com/
Podcast: Pickleball Fire

Resources:

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

What Should You Consider If Your Spouse Passes Away? Sep 08, 2021

Show notes

You may not be going through the situation of losing a spouse, but it is always wise to stay prepared.

We understand how the situation can be and that is why we have prepared this episode as a resource for you when that time arrives.

In this episode of the Secure Your Retirement podcast, we talk about the different things you should think about when your spouse passes away. We cover topics from assets to investments to insurance and share where you might require professional help to make things easier.

In this episode, find out:

The things to think about from a cash flow perspective.
The different things you need to think about concerning estate settlement issues.
Why you should compile everything from investments to insurance when you’re still together.
The different types of insurance you should be aware of.
Why you should use a CPA to help you look through the different tax elements.
Be knowledgeable about how taxes on joint assets and investments are going to transition.

Tweetable Quotes:

“Once you have a good picture of where everything is, then you can start to work within all the nuances that every little investment or asset account is going to have.”- Murs Tariq
“These are things that might take months to get through, but you want to make sure you’re stepping through these things in an organized way.”- Radon Stancil

Resources:

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

Paul Moore - Secrets of The Super Wealthy Sep 06, 2021

Show notes

Have you considered real estate as one of the ways to build wealth as part of your retirement plan?

Real estate can be a huge return on investment when you take the time to understand the market and learn from other investors’ mistakes. Research is showing that the current unique state of the economy is proving to be a very conducive time to invest in real estate due to low-interest rates.

In this episode of the Secure Your Retirement podcast, we have Paul Moore. He’s a founder at Wellings Capital, a real estate private equity firm that manages investment funds.

Listen in to understand why it is much easier to avoid replicating someone else’s mistakes than it is to replicate their success. You will also learn how to approach investing in mobile home parks as a beginner in the market.

In this episode, find out:

Paul on his career background and his journey as a real estate investor.
Why the current unique state of the economy is conducive to create wealth using real estate.
Why Paul named his podcast “How to Lose Your Money” to encourage beginner investors.
Tap into your gut feeling and don’t ignore what it’s telling you.
How Paul is fighting human trafficking by setting aside a portion of his profit for that purpose.
The importance of having a why and finding joy in the journey towards your goals.
The value of investing in storage and mobile home parks real estate.
How to approach mobile home parks investing as a beginner.
The strategy that makes it possible to not pay any taxes on your investments.

Tweetable Quotes:

“If your gut feeling and the head are out of alignment, there may be something wrong.”- Paul Moore
“Sometimes, it’s easier to avoid replicating someone else’s mistakes than it is to replicate their success.”- Paul Moore
“Have a big why that’s other than money.”- Paul Moore

Get In Touch with Paul:

Free resources: https://www.wellingscapital.com/resources

Resources:

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

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to morgan@pomwealth.net.

4 Costly Misconceptions About Retirement Planning Sep 01, 2021

Show notes

What misconceptions do you hold about retirement planning? To have an active retirement plan, you need to have the right financial advisor to manage your investment.

It is important to settle down with an advisor you’re comfortable with, and that aligns with your philosophy. To debunk these misconceptions, you have to do your research and ask the right questions, so they don’t cost you in the future.

In this episode of the Secure Your Retirement podcast, we debunk four costly misconceptions about retirement planning. Listen in to understand these misconceptions at a more detailed level and how to avoid them when looking to invest in your retirement plan.

In this episode, find out:

Not everyone using the title “financial advisor/planner” is qualified.
The lowest fees are not always the best solution for your goal to engage with a financial advisor.
Understand what you’re getting from the fees you’re paying and ask questions.
All credentials and certifications are not the same.
The time and work required to acquire the standard certification.
Just because an advisor works for a larger company doesn’t mean they’re qualified.
Why the independent advisor side of the financial world is the fastest growing today.
Do your research when choosing an advisor and ensure they align with your philosophy.

Tweetable Quotes:

“If you’re getting what you’re looking for, the fee doesn’t matter as much anymore.”- Murs Tariq
“When you find out somebody’s got a certification, go find out what it took that person to get certified to be able to use that credential.” - Radon Stancil
“Every single one of these misconceptions comes down to doing your research and asking the right questions.”- Murs Tariq

Resources:

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

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to morgan@pomwealth.net.

Wine Down - Power of Attorney - 401Ks - Social Security Aug 30, 2021

Show notes

Do you have a question relating to retirement planning that you’d like answered in a fun way?

In this episode on the Secure Your Retirement Podcast, we have our monthly wine down episode where we answer some of your commonly asked questions about retirement planning in a fun way. We cover questions on social security, 401Ks, power of attorney, and the tax efficiency for a non-IRA account.

Listen in to learn the importance of having a power of attorney and consolidating multiple 401Ks.

In this episode, find out:

Why do you need to have a durable power of attorney even when you think you don’t need it?
The difference between a durable and healthcare power of attorney.
Why you shouldn’t be worried about consolidating all your 401Ks accounts in one place.
How to approach your multiple 401Ks consolidation.
How to get your annual social security statement to understand what your benefits look like.
How we’ve created a variable annuity account to manage non-IRA accounts.

Tweetable Quotes:

It is not expensive to set up a durable power of attorney, it’s just naming somebody that can be there if you become incapacitated.”- Radon Stancil

“Consolidation is something we believe should be done, it’s something that’s going to make your life much simpler.”- Murs Tariq

Resources:

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

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to morgan@pomwealth.net.

College Planning Using a 529 Plan Aug 25, 2021

Show notes

Have you been thinking of how to start saving for your child’s or grandchild’s college education? How about setting up a 529 Plan?

A 529 Plan allows you to invest in your child’s or grandchild’s college education before they even get to that stage. This type of investment has many benefits, including being tax-free during the growth period.

In this episode of the Secure Your Retirement podcast, we explain in detail what a 529 Plan entails and the benefits it offers. Listen in to learn how to open a 529 account and the investment options available for you.

In this episode, find out:

Understanding the 529 Plan and the tax-free benefits it offers.
This plan won’t affect your child’s ability to get financial aid because you’re the one in control of the money and not your child.
The hands-on and hands-off ways to control the investment options for a 529 plan.
The options available for you if you’re worried you won’t use all the money in a 529.
Understanding that you can open and use a 529 plan in any state across the country.
The current situation on whether the plan is likely to go away any time soon.
The 529 investment plan doesn’t lock you in and you can make changes.
How and where you can open a 529 account.

Tweetable Quotes:

“It’s the parent or the grandparent that’s in control of the money.”- Radon Stancil
“You can set the 529 plan up anywhere; it’s not based on residency.”- Murs Tariq
“They want this plan to be as easily accessible because saving for education is very important.”- Murs Tariq

Resources:

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

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to morgan@pomwealth.net.

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