218 episodes

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.

Financial Symmetry: Balancing Today with Retirement Chad Smith, CFP® and Mike Eklund, CFP®

    • Business
    • 4.6 • 45 Ratings

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.

    Harnessing Your Financial Instincts to Build Your Retirement Nest Egg, Ep #218

    Harnessing Your Financial Instincts to Build Your Retirement Nest Egg, Ep #218

    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 prosperity by analyzinging and identifying your perspective. Listen in to learn 10 instincts identified by the book Factfulness and what you can do to combat the biases they lead to. 
    Outline of This Episode [0:50] Our article of the week [1:58] Your instincts influence your decision making [5:41] Why are we worried about the current situation? [7:13] Combatting the gap instinct [10:36] The negativity instinct [16:10] The fear instinct [10:18] Size matters [23:56] The generalizing instinct [26:10] Destiny instinct [29:23] Who’s to blame? [31:05] The urgency instinct Resources & People Mentioned Show Notes The Retirement Podcast Network Gapminder BOOK - Factfulness by Hans Rosling Episode 209 - 5 Reasons to Consider Investing in More Than the S&P 500 BOOK - Making Numbers Count by Chip Heath BOOK - Super Communicators by Charles Duhigg  

    • 36 min
    What Starting an S-Corp Could Look Like for You in Retirement

    What Starting an S-Corp Could Look Like for You in Retirement

    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 passionate about.
    Some surveys show the proportion of people starting businesses at ages 55 to 65 has increased in recent years and, at one point, even surpassed the typical entrepreneur age group of 25- to 35-year-olds.
    So today we’re speaking to those currently operating sole proprietorships and single-member LLCs OR those considering starting their own business. We’re going to shine the light on the S Corp business type and provide some details on why this could be an opportunity to explore.
    Outline of This Episode [0:55] How to know when you have enough [2:09] Starting a business in retirement [6:02] Why it's important to understand what an S-corp is  [10:10] An example  [14:54] The downside of the S-corp ****
    📬 Get our Retire On Purpose Guide here. 
    📰 See the full show notes here
    🌐 Explore the Retirement Podcast Network here

    • 21 min
    Decision Making in the Middle Years of Retirement

    Decision Making in the Middle Years of Retirement

    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 to spend or give the wealth you've worked hard to accumulate.
    Listen in to hear about the financial and tax moves that we see most commonly used during the middle years of your retirement.
    📬 Sign up for the Advisor Corner Newsletter here and receive our Retire On Purpose Guide. 
    📰 See the full show notes here
    🌐 Explore the Retirement Podcast Network here

    • 24 min
    How to Approach Planning a Retirement Abroad, Ep #215

    How to Approach Planning a Retirement Abroad, Ep #215

    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 considered before grabbing your passport and setting off for the unknown. 
    In this episode, we discuss seven crucial financial considerations that you’ll need to keep in mind if you are interested in retiring abroad.
    Outline of This Episode [0:36] Overcoming frugality in retirement [2:15] More people are retiring abroad [3:44] Put together a blueprint of what life will look like for you [5:00] Dealing with finances [6:53] Dealing with taxes [8:40] Dealing with investments [10:32] Dealing with real estate [12:24] Dealing with healthcare [13:41] Dealing with estate issues ****
    📬 Get our Retire On Purpose Guide here. 
    📰 See the full show notes here
    🌐 Explore the Retirement Podcast Network here

    • 17 min
    How to Prepare for the Retirement Danger Zone

    How to Prepare for the Retirement Danger Zone

    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, many retirees could have bigger risks present in their allocations than they realize.
    In today's episode, you'll learn why sequence of return risk has been called the retirement danger zone and how to prepare for it within the context of your retirement plan rather than by planning by generalized rules of thumb.
    Resources & People Mentioned Show Notes DOWNLOAD our guide to "Retire on Purpose" Retirement Podcast Network

    • 23 min
    Be Ready For These 10 Tax Surprises, Ep #213

    Be Ready For These 10 Tax Surprises, Ep #213

    So many of us will be hoping for no tax surprises when preparing our tax returns this year. 
    This is why we want to provide you with a list of common tax surprises to watch for.
    After working with hundreds of clients to prepare their tax returns, we’re sharing the latest tax surprises we see that could be helpful to know when completing your tax return this year.
    Outline of This Episode [0:42] The Slott Report [2:39] Inheritance surprises [6:51] Credit card rewards [8:10] Interest income increases [10:54] Income earned in different states [12:32] 1099Ks [14:14] Underwithholding from your W4 [15:56] Forgotten statements [17:32] Double taxation on the Backdoor Roth [19:49] Underpayment penalty [21:14] The K1 for small business owners ****
    📬 Get our Retire On Purpose Guide here. 
    📰 See the full show notes here
    🌐 Explore the Retirement Podcast Network here
     

    • 28 min

Customer Reviews

4.6 out of 5
45 Ratings

45 Ratings

Ima listener ,

AWESOME!

A Must listen to show! Really knowledgeable hosts!

Jim Clague ,

Like The Show

Like the show

Annie DJ ,

Actionable!

I’ve been listening to Chad and Mike for a while now and they have only gotten better with time. The shows are intentionally brief, but contain actionable items.

Their latest episode 118 provides a deeper insight into their investing philosophy. I like that some episodes are designed for beginners and then they mix in other episodes that are more technical and you may have to listen to twice.

Well worth your time!

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