The Financial Answer

Avoiding Financial Temptations

Think you found a shortcut to your financial goals? Want to cut a corner on your retirement savings? Think again! We talk through common financial temptations and how to avoid them.
 
Read more and get additional financial information: https://thefinancialanswer.com/podcasts/avoiding-financial-temptations/
 
What we discuss on this episode: 
0:55 - Nathan shares about a recent fishing trip.
4:39 - Carrying too much debt.
8:09 - Are you throwing away the 401(k) match?
10:48 - Have you deferred your taxes?
14:41 - What makes sense with Social Security?

Investing Like a Genius

Are you investing like a genius or are you making every mistake in the book? Let’s talk through five ways you can make wise decisions with your money.
 
Read more and get additional financial information: https://thefinancialanswer.com/podcasts/1218/
 
What we discuss on this episode: 
1:59 - Avoid making premature IRA withdrawals.
4:50 - Are you allowing lifestyle creep?
7:39 - Overpaying for tuition is a big regret.
12:36 - Retiring too early can hurt retirees.
15:00 - Ignoring the tax-efficient opportunities is a bad idea.
 

5 Questions You Didn’t Know To Ask

You don’t know what you don’t know. So, we go over five questions that might shed some light on ways to make your retirement plan better and more efficient.
 
Read more and get additional financial resources here: https://wp.me/paIiUZ-jy 
 
What we discuss on this episode: 
0:41 - Praying for everyone impacted by the floods.
2:55 - How much will taxes cost?
6:29 - How much can I withdraw from savings each year?
9:14 - Should I still have life insurance in retirement?
12:45 - What kind of medical coverage would I need?
17:02 - What value are you getting for the fees you’re paying?

What Kind of Retirement Are You Living For?

Everyone has different visions and goals for what they want out of retirement. What kind of retirement do you want? Figuring this out can help you better plan accordingly to make sure you accomplish your goals with your retirement savings.  
 
Read more and get additional financial resources here: https://thefinancialanswer.com/podcasts/understanding-values-based-planning/ 
 
What we discuss on this episode: 
1:39 - What kind of retirement are you wanting?
4:43 - Do you want to spend and buy in retirement?
7:09 - Do you have big travel plans?
9:52 - Are you helping kids and grandkids with college? 
11:53 - What kind of account options do you have?

5 Things You Must Know About Decumulation To Retire Successfully

Accumulating money is one thing, but decumulation requires a whole different strategy. What do you need to know in order to be successful? 
 
Read more and get additional financial resources here: https://wp.me/paIiUZ-jj 
 
What we discuss on this episode: 
1:18 - Let’s talk decumulation.
2:26 - A lack of support could hurt you.
3:59 - The fear of spending is real.
9:10 - What risks could you face?
11:10 - Multiple buckets of money can make a difference.
13:06 - Should we be looking at tax consequences?
15:53 - Leverage your lifetime income. 

Retirement Blind Spots

What do you need to look out for when it comes to blind spots in retirement? Don’t overlook these key elements that you’ll want to prepare for in your financial plan.
 
Read more and get additional financial resources here: https://wp.me/paIiUZ-j6 
 
What we discuss on this episode: 
0:36 - We’re talking retirement blind spots today. 
1:49 - Are you investing in cryptocurrency?
4:27 - Do you expect the market to always go up?
7:05 - Inflation happens over time. Is it here to stay?
9:32 - Medical costs are not all covered by Medicare.
12:38 - Tax increases may happen in the future.

SECURE Act 2.0

What should you know about the proposed changes in the SECURE Act 2.0? We discuss a few of the possible impacts to you and your retirement plan.
 
Read more and get additional financial resources here:
https://thefinancialanswer.com/podcasts/secure-act-2-0/
 
What we discuss on this episode: 
0:44 - Nathan shares about his recent vacation.
2:06 - What RMD changes could happen?
5:53 - Employers could start to auto-enroll us in a 401(k). 
8:28 - Catch-up contributions would be added.
11:20 - Matching funds for student loan payoffs are being proposed.
13:44 - A database for orphaned retirement accounts.

Are You Avoiding These 401K Mistakes?

What kind of 401(k) mistakes should you look out for? Nathan shares what you should know when it comes to your 401(k) and your financial plan.
 
Read more and get additional financial resources here: https://wp.me/paIiUZ-iW 
 
What we discuss on this episode: 
1:07 - June is here and summer trips are happening.
4:47 - Avoid 401(k) mistakes, like leaving one behind.
8:02 - Did you remember to rebalance?
8:55 - Should you use a target date fund?
11:55 - Should you use the 401(k) advisor?
14:00 - What are the hidden fees?

Understanding Your Financial Statements

Whether you receive a statement monthly or quarterly, your financial statements might seem difficult to read. Maybe you look at it or just toss it in a drawer to figure it out later. Many people start to pay close attention to it as they near retirement. On today’s episode of the podcast, we talk about what you should be looking at.
 
Read more and get additional financial resources here: https://wp.me/paIiUZ-iK 
 
What we discuss on this episode here: 
0:47 - Enjoy celebrating Memorial Day!
1:37 - Reading the fine print on your financial statement.
4:03 - What is the asset allocation summary?
5:38 - What about those fees?
7:32 - What are some hidden fees in regular life?
9:16 - What is cost basis?
10:08 - What fine print gets overlooked?

Reading the Financial Fine Print

Do you read the fine print when it comes to investments and financial decisions? On today’s podcast we talk through key areas that people tend to overlook and are in for a surprise later on.
 
Read more and get additional financial resources here: https://wp.me/paIiUZ-iC 
 
What we discuss on this episode: 
2:46 - Rate increase on long-term care insurance.
5:05 - Do you know what your annuity entails?
7:57 - Mutual funds that tanked.
9:47 - Life insurance got expensive after 65.
12:21 - REITs aren’t liquid?