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When considering retirement, do you wonder what financial opportunities you may be missing? Busy lives take over and years pass without taking advantage. In this retirement podcast, Chad Smith and Mike Eklund unveil financial opportunities, to help you balance enjoying today so you are ready to retire later. By day, they are fiduciary fee-only financial advisors who answer questions about tax savings, investment decisions, and how to save more. If you’ve been putting off your financial to-do ...
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Have you ever been in the middle of a road trip, and you come upon a roadblock where unexpected traffic adds a half hour or more to your journey? Similar frustrating circumstances pop up in the years just before and just after retirement. During this new life transition, you are forced to confront retirement roadblocks, and if you don’t know how to…
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Early retirement has unique financial planning challenges, particularly regarding health insurance and tax strategies. For people who retire before age 65, the challenge of finding affordable and adequate health insurance adds another layer of complexity to their financial plans. *********** 📬 Download your Free Retire On Purpose Guide here. 📰 See …
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Navigating the Updated Inherited IRA Rules with Grayson Blaszek and Matthew Schulman, Ep #228
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An inherited IRA is essentially an IRA received by a beneficiary after the original owner passes away. Whether it's a spouse, child, or another loved one, the key characteristic of an inherited IRA is that it transitions ownership upon death. As Grayson Blaszek explains, the funds are transferred intact, but the way you handle and withdraw these fu…
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Investing can feel like a battle between two polar opposites within us, the rational and the emotional, just like the classic story of Dr. Jekyll and Mr. Hyde. This week, Dr. Jekyll and Mr. Hyde are our model investors, and we’re talking you through the spooky story of the risks, emotions, and rational strategies involved in long-term investing. **…
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Reaching your financial goals builds confidence and peace of mind, which are essential for making informed decisions that benefit your entire family. In this episode, we’re following a fictional pop culture couple from newlywed to pre-retirement, to demonstrate how their thought process around an emergency fund could evolve with their changing circ…
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Retirement, a phase many of us anticipate for a long time, comes with its own set of financial intricacies. Specifically, how do you effectively withdraw funds from your savings to ensure a comfortable, sustainable, and tax-efficient lifestyle? A well-crafted retirement blueprint is essential. This plan should outline your long-term goals and the s…
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Retirement planning is a delicate process, and you need to carefully consider your various income streams, including Social Security benefits. For those of us who plan to continue working while claiming Social Security, it’s important to understand how this decision can impact the monthly benefits you receive. In this episode, we’re sharing how to …
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We all have visions of our ideal retirement. However, our financial plans can quickly veer off course if we haven't appropriately managed our risks. On this episode of Financial Symmetry, Greg Suggs from Greg Suggs Insurance joins me to discuss how to manage common risks that could negatively affect your wealth. You won’t want to miss out on these …
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How do you begin to save for your children to go to college? With the rising costs of college education, is it worth the monetary commitment? Including tuition & fees, room & board, books & supplies, etc. the average cost of college is anywhere from $27,000 for an in-state public school up to $80,000–$90,000 a year for an Ivy League School. How you…
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Some problems are easily solved with a bit of reasoning, logic, or by using a bit of math. Other problems go beyond quantitative thinking. The most thought-provoking issues aren’t numbers-based. Many decisions surrounding retirement require much deeper consideration and often cause you to reevaluate your thinking of what you had originally imagined…
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One of the retirement questions that persists through the ages is whether to take a pension or a lump sum payment. On this episode, we flesh out an example from baseball: Did Bobby Bonilla Day make the right decision back in 1999 to take $1.2 million per year instead of a $5.9 million lump sum payment? Seeing this example play out over time can hel…
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What if you had a magic app that told you how much of your net worth you never got to spend at the end of your retirement? The trouble with planning for retirement is all the uncertainty, however, proper planning can help. In this episode, Cameron Hendricks joins me to discuss how you can learn to spend more in retirement. Outline of This Episode […
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Have you considered how your instincts influence your decision-making around retirement planning? Our natural instincts and biases create frameworks that lead our perspectives on how we think the world works. These frameworks influence our decisions surrounding our financial decisions. On this episode of Financial Symmetry, we discuss how to build …
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Today we’re diving in to a specific path that many retirees consider as they move away from the “corporate” world and enter their second act – which is starting a business. With increased life expectancy, cost of living increases and a desire for continued fulfillment, many retirees are excited to begin a new experiment in an area they are passiona…
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Now that you have made it through the retirement danger zone, you have made it to the Arrivement phase of retirement. You may be wondering, what are my next steps? This season can be full of opportunities and connection with those you care about. At this point in your life journey, you may face some difficult decisions around relocating or how best…
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Have you thought about retiring abroad? Oftentimes when we think of retirement, we think about sunny beaches with crystalline water shimmering in the sunshine. Could this or some other idyllic vision be your future? The realities of retiring abroad can be exciting, but at the same time overwhelming. Complex financial strategies need to be considere…
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If you are retiring soon, you've most likely wondered if your asset allocation is too risky. Some have called the period just before and after retirement the Retirement danger zone as it's a time where understanding how you should be invested matters for your long-term financial success. After years of great returns in tech and large cap US stocks,…
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