Financial and retirement guidance from Chris Scalese of Fortune Financial Group in northeast Pennsylvania. Each show we'll talk about important financial planning topics and tell you great stories about people we've helped to create a prosperous financial future.
Ep 21: Things People Think They Know (But Don’t!)
When it comes to your financial plan, are your plans based on financial expertise or your assumptions? It’s hard to recognize our own weaknesses or deficiencies, but in reality, there are many key areas where people trip up.
Read more and get additional resources here: https://fortune-financial.org/ep-21-things-people-think-they-know-but-dont/
1:11 - How much income do I truly need in retirement?
3:15 - How much investment risk should we be taking?
5:44 - How do I address possible long-term care expenses?
7:15 - Won’t I pay less in taxes in retirement?
Ep 20: The Different Stages of Retirement Planning
Building a retirement plan takes time, but your focus should start to narrow as you move closer to that big day. On this episode, we’re going to look at the different stages of planning from 15 years out all the way until that transition into retirement. Find out what you should be doing at each stage along the way.
Read more and get additional resources here: https://fortune-financial.org/ep-20-the-different-stages-of-retirement-planning/
0:18 – Let’s talk about the different stages of retirement.
1:07 – What should you be thinking about around 50 when you’re 15 years out?
3:30 – Now you’re 10 years out. What should you be considering?
5:37 – This is the time you want to start thinking about your potential retirement age.
7:39 – 5 years away from retirement. This is maybe the most crucial period.
10:10 – Keep in mind that inflation and taxes need to be a part of your retirement plan.
11:56 – It’s now your retirement day. Here’s what has to be done.
13:46 – Is planning over now that we’ve retired?
Ep 19: Cold Hard Cash
We all like to check our bank account and see a healthy number staring back at us, but at what point do you have too much cash on hand? Today we want to focus on the benefits of having cold, hard cash but also why it’s important to understand that too much cash will bring your portfolio down over time.
Read more and get additional resources here: https://fortune-financial.org/ep-19-how-much-cash-should-you-keep-in-your-portfolio/
0:44 – What are the most common needs for cash that requires you keeping it in your bank account?
2:43 – Then what’s the problem with having too much cash?
3:59 – How do you help clients determine how much cash they need?
6:37 – What makes people obsess over a certain amount of cash?
8:03 – In what ways can clients invest cash but keep it out of the market to avoid the volatility?
8:49 – Fixed index annuities might be an option.
Ep 18: Mutual Funds 101
Mutual funds have long been a popular investment choice for people everywhere for a number of reasons, but is the landscape changing? We’ll explore the basics of mutual funds by explaining the key terminology associated with the investment and talk about the future of funds as a part of retirement strategy.
Show notes and additional resources: https://fortune-financial.org/ep-18-understanding-the-ins-and-outs-of-mutual-funds/
0:41 – What percentage of our clients have mutual funds when they first meet us?
1:37 – Tell us what ‘expense rations’ means and why is it important?
3:31 – What about a ‘loaded’ mutual fund? What’s the difference between frontloaded and backloaded?
6:13 – Are there any tax issues that mutual funds can create for an investor?
7:40 – ETFs are becoming more popular. Here’s how they’re different than mutual funds.
9:31 – How often does Chris utilize mutual funds in client portfolios?
Ep 17: Do These Current Events Matter for Retirement Planning?
Depending on who you ask, 2020 could be quite eventful. The year has already gotten off to busy start both nationally and globally, and we’ve gotten questions from people wondering how their retirement portfolios will be affected by the events around us. Let’s look at the top headlines for this year and whether they matter for your finances.
Show notes and additional resources: https://fortune-financial.org/ep-17-do-these-current-events-matter-for-retirement-planning/
0:17 – Does it matter? That’s our focus today.
0:45 – How much should we be worried about the upcoming election?
2:48 – The health insurance marketplace.
4:25 – The trade war with China.
6:16 – Social Security and the uncertain future.
8:01 – The future of the market.
Ep 16: Are You Sabotaging Your Own Retirement?
When it comes to money, there are so many things that we have no control over. So why would we not take care of the things that are within our control? Today we talk about the ways people sabotage their own retirement and what you can do to avoid making the same mistakes.
Show Notes and Additional Resources: https://fortune-financial.org/ep-16-are-you-sabotaging-your-own-retirement/
0:17 – We’re talking about self-sabotage and how we get in our own way.
1:00 – First thing we do is obsess over the short term ups and downs of the market.
3:33 – Social Security is another major one. We sabotage ourselves by turning it on at the wrong time.
5:21 – We don’t think we’ll need nursing home care or feel it’s too far down the road.
7:01 – You assume you’ll love your job forever just because it’s great now.
9:32 – Final one is not identifying how much you’ll need to spend in retirement to maintain your desired lifestyle.