Financial Symmetry: Balancing Today with Retirement

Chad Smith, CFP® and Mike Eklund, CFP®
  • 4.6 (47)
  • INVESTING
  • UPDATED BIWEEKLY
Financial Symmetry: Balancing Today with Retirement

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 list or are just not sure what you’ve been missing, subscribe to the show and learn more at www.financialsymmetry.com. Financial Symmetry is a Raleigh Financial Advisor, proudly serving clients in the Triangle of North Carolina for over 20 years.

  1. 4 DAYS AGO

    Fighting FOMO in Your Portfolio, Ep #233

    Investing can often feel like riding a rollercoaster of exciting highs and daunting lows. This week, we’re digging into the intricacies of the financial planning process, focusing particularly on the importance of understanding market trends and the role diversification plays in safeguarding your wealth. Outline of This Episode (03:08) Investing with diversification mitigates risk; US stocks average 10% annual returns over the long term but vary yearly. (08:39) US and China stock market gains were largely driven by speculative buying, with US stocks being pricier than international and small stocks. (12:07) Tech stocks are currently overvalued, reminiscent of past market bubbles (15:57) Bonds have a stable 5% return, but cash rates are volatile and are expected to drop to 3.9% this year. (17:37) Despite acknowledging the unpredictability of the future, experts from BlackRock, JPMorgan, Schwab, and Vanguard forecast international markets to outperform US markets over the next decade. (20:01) Diversification guards against risk and helps investors achieve their goals *********** 📬 Download your Free Retire On Purpose Guide here.  📰 See the full show notes here 🌐 Sign up here to receive a detailed pre-retirement checklist to assure you are positioned to experience your ideal retirement.

    24 min

  2. JAN 21

    The Retirement Complacency Trap

    Retirement, often portrayed as a glorious era of freedom and relaxation, has its own set of challenges beyond the financial arena. This week, we’re exploring the psychology behind retirement and discussing the four phases retirees go through.  Vacation/Honeymoon Phase: The initial euphoria of not having to set an alarm. Loss Phase: Often associated with disenchantment as the honeymoon phase wears off. Trial and Error Phase: Trying out various activities to find what gives life meaning. Reinvent and Rewire Phase: Adding a new sense of purpose and joy from activities outside oneself. The excitement of retirement can last about a year. The dreamy honeymoon phase is great, but when reality sets in, it can be tough. The transition takes time and usually involves emotional highs and lows as retirees grapple with their newfound freedom while trying to preserve their sense of identity, purpose, and routine.  *********** 📬 Download your Free Retire On Purpose Guide here.  📰 See the full show notes here 🌐 Sign up here to receive a detailed pre-retirement checklist to assure you are positioned to experience your ideal retirement.

    23 min

  3. 12/23/2024

    How to Avoid Common Mistakes When Gifting Money to Family, Ep #231

    As the holiday season approaches, many of us find ourselves thinking about gifts. While gifts can come in many forms, monetary gifts often cause the most confusion. In this episode of Financial Symmetry, hosts Chad Smith and Grayson Blaszak discuss the intricacies of financial gifting.  Financial gifting generally involves transferring assets, such as cash or securities, from one individual to another without expecting anything in return. This process can have several benefits, including seeing your loved ones enjoy the fruits of your generosity during your lifetime. *********** 📬 Download your Free Retire On Purpose Guide here.  📰 See the full show notes here 🌐 Sign up here to receive a detailed pre-retirement checklist to assure you are positioned to experience your ideal retirement.

    22 min

  4. 12/10/2024

    Retirement Roadblocks You May Encounter, Ep #230

    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 maneuver around them, it can leave you feeling stuck. In this episode, we discuss 3 retirement roadblocks you may encounter along your retirement journey. Think of these tips as your GPS to make it easier to navigate around the retirement roadblocks you will inevitably face. *********** 📬 Download your Free Retire On Purpose Guide here.  📰 See the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement

    24 min

  5. 11/26/2024

    The Early Retiree’s Guide to Health Insurance with Grayson Blazek, Ep #229

    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 the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement *********** Outline of This Episode [04:32] Considering Roth conversion for potential tax benefits [09:07] Rules around qualifying for ACA in 2025 [12:36] Early retirement may offer a low-tax window for Roth conversions, potentially reducing the lifetime tax burden [15:49] Consider long-term planning, not just immediate tax impacts, for decisions like Roth conversions [18:44] Roth conversions are typically completed at year's end to account for unexpected income changes affecting ACA MAGI estimates.

    24 min

  6. 11/15/2024

    Navigating the Updated Inherited IRA Rules with Grayson Blaszek and Matthew Schulman, Ep #228

    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 funds comes with specific rules and timelines. Grayson and Matthew dig into the new rules in this episode.  *********** 📬 Download your Free Retire On Purpose Guide here.  📰 See the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement *********** Outline of This Episode [4:50] Differences between eligible and non-eligible designated beneficiaries [6:16] Why it’s important to list IRA beneficiaries to avoid tax inefficiency [8:19] The year that you inherit an IRA impacts that distribution requirement [10:18] Discussing inheritance can lead to meaningful conversations that make financial planning easier [14:17] You need to continue taking the required minimum distribution (RMD) if the decedent began them already [16:00] How to handle a 10-year account withdrawal strategy [22:07] Key takeaways about your withdrawal options with the new rules as a non-eligible designated beneficiary

    24 min

  7. 10/29/2024

    Are You Living This Retirement Horror Story? Ep #227

    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.  **** 📬 Download your Free Retire On Purpose Guide here.  📰 See the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement **** Outline of This Episode [03:06] Dr. Jekyll and Mr Hyde's wildly different investment strategies  [06:00]Strategies that help mitigate emotional reactions during elections and global crises  [07:38] Balancing short-term market volatility with a long-term investment perspective [10:37] How to stay aligned with long-term goals in the face of market downturns [13:28] Diversification to manage risk in an investment portfolio [14:17] Psychological factors that cause investors to feel more confident during market upswings [15:35] Automating your investment and savings strategy to prevent emotional decision-making

    18 min

  8. 10/08/2024

    The Evolution of your Emergency Fund, Ep #226

    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 circumstances. Join us as we lay out a case study of planning that helps them balance their accessible wealth with a healthy emergency fund. **** 📬 Download your Free Retire On Purpose Guide here.  📰 See the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement

    22 min
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4.6
out of 5
47 Ratings

About

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 list or are just not sure what you’ve been missing, subscribe to the show and learn more at www.financialsymmetry.com. Financial Symmetry is a Raleigh Financial Advisor, proudly serving clients in the Triangle of North Carolina for over 20 years.

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