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Welcome to Your Financial Compass Podcast, presented by Bulman Wealth Group, a show dedicated to helping you successfully navigate to and through your retirement. Our Financial Compass process goes beyond traditional holistic financial planning; we care as much about you and your lifestyle as we do about your plan. Your hosts are Bulman Wealth Group financial advisors who, for more than two decades, have provided financial leadership for those they serve. These shows are designed to provide ...
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This is the radio version of Your Financial Compass, presented by Bulman Wealth Group. This is the sister show to the regular bi-weekly Your Financial Compass podcast. This show will allow you to learn about a variety of topics in one sitting and help you catch up on anything you missed on the weekly radio show that airs on News Radio KFBK 93.1FM in Sacramento, California at 2pm on Sundays. This show will help you successfully navigate to and through your retirement. Our Financial Compass pr ...
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We are entering the holiday season and your capacity for stress is probably pretty limited, but we’re going to potentially ramp it up a notch by talking about the difficult money conversations everyone should be having. We have seminars on this topic pretty often so we wanted to expand on that discussion during this week’s show. Here’s some of what…
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Many of us can relate to the frustration of a messy garage. Despite our best efforts to keep it tidy, it doesn’t take long before the space fills with tools, holiday decorations, and things we don’t even remember storing. Our finances are no different. Over time, we accumulate 401(k)s from previous jobs, old IRAs, deferred compensation plans, and i…
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As the year draws to a close, it's the perfect time to reflect on your financial health and set the stage for a prosperous new year. In this week’s show, Chris and Scott share seven essential financial strategies to consider before year-end. Here’s are some of the things we discuss in this episode: Review your estate plan and make sure it’s still d…
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This week’s episode is all about busting some common myths that we hear and read about. A recent article from Fidelity spared the idea and Scott and Shawn are going to debunk six money myths. We’re covering things like income planning, healthcare, legacy planning and more. Here’s some of what we discuss in this episode: Myth number 1: It’s not wort…
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All too often, investors get hung up on the mistakes they’ve made instead of moving forward and thinking about what they need to do next. This week’s show is all about finding opportunities for improvement when mistakes are made so you’re optimizing your financial strategies in the future. From income planning to understanding your risk number, the…
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There will always be things to worry about, and retirement risks are no exception. Whether it's the fear of outliving your savings, the unpredictability of rising taxes and inflation, or the anxiety over market volatility, there are absolutely some retirement risks worth discussing. The good news is, there are ways we can prepare and mitigate these…
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It seems like all the news is doom and gloom these days, and the US economy often falls into that bucket of negativity. People are often looking at worst-case scenarios and playing on the fear that drives them to react. The sky always seems to be falling. It’s time to reverse that trend on this week’s show. There are plenty of reasons to be optimis…
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When people think of their money and working with a financial advisor, the primary risk that comes to mind is the stock market and volatility. That’s obviously the biggest and the most talked about, but there are many more risks to your retirement that don’t always get the attention they deserve. This week’s show will highlight seven risks we must …
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In this week’s show, Scott and Shawn discuss the intricacies of market drops, explaining what they mean and how you can prepare for them. They discuss various market events such as corrections, bear markets, recessions, and depressions, breaking down what each term means and how often these events occur. Here’s some of what we discuss in this episo…
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When it comes to retirement, most of us think of it in two clear phases: pre-retirement and retirement itself. But what if we told you that it’s more nuanced than that? With people living longer, retirement can now span 30 years or more. That’s why it's essential to consider not just how you'll spend those years, but also the expenses that will com…
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As we journey through life, each decade brings its own set of financial challenges and opportunities. Even though retirement planning is best when it’s customized to the individual, there are milestone dates and ages that everyone needs to pay attention to. This week’s show is all about those key ages and why they’re so important for planning. Here…
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Retirement should be a time of relaxation and enjoyment, but for many, it brings a host of financial fears. In this week’s show, Scott and Shawn will walk through the four biggest fears people have in retirement by explaining what they are, what they mean, and how we can help address them. Here’s some of what we discuss in this episode: The fear of…
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Retirement is not a one-size-fits-all experience. It evolves through different phases, each with its own set of challenges and opportunities. In this week’s show, Scott and Shawn discuss the three distinct phases of retirement: go-go, slow-go, and no-go. Find out why each phase matters for planning and how to manage your finances as you move throug…
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Scott is joined this week by Shawn McElmoyl to break down how to clean out and organize the financial garage in your home. They discuss why so many of us accumulate financial clutter and how it affects our financial health and peace of mind. Plus, we’ll provide steps to help declutter, organize, and optimize your financial assets. Here’s some of wh…
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The old tale of the tortoise and the hare teaches us that looks can often be deceiving, but how does that lesson apply to the world of finance and financial planning? In an era where influencers on social media get loads of attention for looking the part, ultimately you still have to put in the work to achieve your financial goals. Here’s some of w…
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There are often misconceptions when it comes to financial advising, but knowing the role of an advisor and how to find one that fits you will help ease many of the questions or concerns people might have. In this week’s show, Chris and Scott share insights on common misconceptions about financial advisors, the importance of trust, and lessons learn…
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They say men are from Mars and women are from Venus. Are their financial and investment needs just as different? In today’s episode, we’ll dig into some of the nuances that female investors face today as opposed to their male counterparts. Here’s some of what we discuss in this episode: Women’s tendency toward risk aversion, investing performance, …
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When it comes to planning for your retirement, success requires careful planning and strategic decision-making This week, Chris and Scott are here to address some of the common retirement pitfalls they see and discuss how they help their clients overcome these problem areas. Here’s some of what we discuss in this episode: Transitioning from investi…
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In this week’s show, Chris and Scott share personal anecdotes, including Chris's experience teaching his children about investing, and the importance of starting financial education early. They also explore the generational differences in retirement planning and savings habits, and provide actionable insights into creating a robust financial plan. …
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There are a lot of things out there that can trip you up as you try and plot out your financial future. Even the most diligent planners make missteps but the more you know, the better you can prepare. In this week’s show, Chris and Scott talk about some common financial pitfalls they see, which include hidden fees, tax planning, investing risk, and…
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Tax planning can certainly be overwhelming and changing tax laws only add to the frustration as you try to plan for retirement. That’s why this show will have a special focus on tax strategies and how it fits into a comprehensive financial plan. Join Chris and Scott as they discuss the SECURE Act 2.0, Roth conversions, and the pros and cons of annu…
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As consumers, we're always on the lookout for ways to make our money go further. When interest rates decrease, our purchasing power increases. But what happens when interest rates go up? According to Marcos, this can actually be beneficial for your retirement savings, especially if you know how to navigate the current financial landscape. Tune in t…
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As we approach retirement, the financial landscape can often seem daunting. From income planning to investment strategies, taxes, and healthcare, there are numerous factors to consider to ensure a comfortable and secure retirement. In this week’s show, Chris and Scott will discuss these critical topics, offering actionable insights and strategies t…
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Market turbulence can have a big emotional toll on investors if they don’t have the necessary tools to help them make the proper decisions for how to manage investments during that time. But not to worry, Scott and Chris are here to help. Join the duo as they explain different approaches and tools to keep in mind during times when the market is a l…
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Everyone’s retirement situation is going to look a little bit different, with varying asset levels, types, concerns, and goals. In today’s episode, we’ll highlight some key considerations to keep in mind as you plan for your unique retirement. We hope this conversation shows that retirement planning isn't as simple as giving yourself a big paycheck…
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Retirement planning is a journey filled with complex decisions and potential pitfalls. In this episode of Your Financial Compass, Chris and Scott take a deep dive into some of the most common mistakes and misunderstandings that they see folks make when it comes to planning their finances to and through retirement. Here’s some of what we discuss in …
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As you approach retirement, the question of financial security becomes increasingly important. In this week’s show, we’ll continue our conversation about the essential strategies to ensure a secure and comfortable retirement. From understanding income sources and tax implications to coordinating with your spouse and managing lifestyle inflation, we…
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In this show, we’re going to give you a list of key areas and questions that need your attention before you retire because these things could cause issues financially if you haven’t addressed them. We’ll also address often-overlooked aspects of your retirement plan, providing valuable insights and actionable steps to help you prepare for a financia…
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Do you feel overwhelmed with financial planning and feel there are too many things to tackle? Are you not exactly sure where to get started? Today we will cover our process here at Bulman Wealth Group, guiding you through what it feels like to become a client with us. Here’s some of what we discuss in this episode: The discovery meeting: Getting to…
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Retirement planning can often feel like navigating a complex maze. With so many factors to consider, it's easy to feel overwhelmed. In this week’s show, we’ll try to simplify things by highlighting five key areas that make up a comprehensive financial plan. Here’s some of what we discuss in this episode: The importance of building a relationship wi…
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In this week’s show, we want to spend some time on an often daunting topic: market downturns. With over 20 years of experience in comprehensive financial planning, our team can offer invaluable advice on how to manage your investments and emotions during volatile times. Over the course of this episode, we’ll covers investment strategies, the role o…
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Before another tax season approaches, we want you to be in the best position now and in retirement. That means tax planning needs to be a focus as a part of your overall financial plan. In this week’s show, we will provide essential tips and strategies for preparing and filing taxes, understanding tax brackets, and making the most of deductions. We…
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Coming up on this week’s show, we turn our focus to some key retirement discussions we have with clients when we’re helping them build a plan. Join us as we break down the three types of retirement you might have, the most common pitfalls people fall into in retirement, and the truth about annuities. Here’s some of what we discuss in this episode: …
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Many of the questions we get from clients deal with the stock market and the economy. There’s plenty of uncertainty around inflation and interest rates so let’s do our best to give you the reality of what’s happening this year. This show dives into the intricacies of the stock market, the role of the Federal Reserve, and the potential impacts of co…
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Planning for retirement can feel like navigating through a maze of uncertainty, but with the right guidance, you can find your way to a secure and fulfilling future. This episode of the show will focus on some key areas with proper insight from our Bulman Wealth team. Discover the intricacies of Social Security, the nuances of safe investing, and t…
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Are annuities the right investment for your retirement? In today’s episode, we’re diving into the world of annuities to help you understand what they are, how they work, and whether they might be a good fit for your retirement strategy. Whether you're new to the concept or looking to deepen your understanding, this conversation should give you some…
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When it comes to retirement planning, timing is everything. Each milestone birthday can have significant implications for your financial future. Today we’ll lay out the importance of planning around key ages. Each of these milestone birthdays could require extra attention. For example, turning 50 opens the door to catch-up contributions, allowing y…
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If you've ever felt lost in the maze of retirement planning, you're not alone. The road to a secure financial future can be fraught with confusion and complex decisions. But fear not, this show will serve as your guide through the twists and turns of preparing for the next chapter of life. In this episode, we’re going to provide a detailed look int…
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Retirement is a milestone many of us eagerly anticipate, but it also marks a significant change in how we manage our finances. Instead of a regular paycheck, we'll rely on various income streams. So, what income streams will you have in retirement? And how can you plan for this stage before you retire? In today's episode, we'll cover all of that an…
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The 60/40 strategy, which involves investing 60% in stocks and 40% in bonds, has long been a go-to for risk-averse investors. But does this approach still hold its ground in today’s fast-paced market? Stay tuned as we explore the past, present, and future of this investment strategy and determine whether it’s still a cornerstone of wealth managemen…
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With the abundance of online advice and self-directed retirement accounts gaining popularity, many are left wondering if going solo is the right move for them. In times of economic stability, it's easy to overlook potential risks and losses, especially when every investment seems like a winner. However, as markets fluctuate and retirement regulatio…
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Unfortunately, we’re still seeing the impact of record-high inflation in today’s market. As interest rates may not decline as rapidly as anticipated, retirees face the additional challenge of market volatility impacting withdrawals from IRAs, 401(k)s, Roth IRAs, and other brokerage accounts. So, what are some ways to combat this? Join us as we shar…
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There are a handful of important age milestones that you should be aware of in the retirement planning process. While some of them are more well-known, others can easily fly under the radar. Stay tuned as we cover the important birthdays you need to pay attention to from catch-up contributions at age 50 to taking RMDs at age 73. Here are the milest…
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Navigating Retirement for Generation X: Strategies to Weather Market Storms and Secure Your Financial Future
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If you’re a Gen Xer, born between 1965 and 1980, you might be starting to think about your transition into retirement. Moving into this new phase not only means imagining how your daily life will change but also having a clear understanding of your finances. Join us as we share some important things to consider as you approach this major milestone.…
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Welcome back to Your Financial Compass! In today’s episode, we’re diving into the key distinctions between Traditional and Roth IRAs and 401(k)s. If you've ever wondered about the differences, pros, and cons, this episode is your guide to understanding these essential financial instruments. Here’s some of what we discuss in this episode: What are t…
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In today’s episode, we are excited to introduce you to a key member of the Bulman Wealth Group team- Marcos Lemus. Marcos has been with us for about 2 years now and has recently transitioned into a new role as a service advisor. He joins us today to share more about his background, his journey into finance from the education and technology sector, …
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We spend a lot of time talking about how to save enough for retirement, but is there such a thing as saving too much? Some experts say that retirees will need 70-80% of their pre-retirement income to sustain a comfortable lifestyle, but recent studies show that many retirees are spending significantly less than these benchmarks. Join us for a thoug…
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While no one really enjoys paying taxes, we all know it’s a given, and we expect it every year. What makes it worse is getting hit with a tax bill that you never expected. Certain moments in our financial lives can and will trigger tax events so we want to make sure you’re mindful of them, explain what they are, and share some ways to stay ahead of…
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If you've ever felt overwhelmed or intimidated by the idea of a fixed retirement number, advertised by some financial institutions, you're not alone. In this episode, Scott debunks the retirement number myth, explaining that your retirement number is not just a single, daunting figure, but instead a combination of different income streams that work…
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Generation X Retirement Planning: Maximizing 401ks, IRAs, and Securing Your Financial Future
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xx WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can a…
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