"Building wealth for life" with the team at SGL Financial. Join hosts Gabriel & Steve Lewit for all the latest in financial news, trends, strategies & more!
Episode 89: Don't Fumble in the Retirement Red Zone
We've been following playoff football (even without the Bears) and it got us thinking about the "Retirement Red Zone" and why it's critically important to not make a financial fumble when you're so close to the finish line.
Next, we had Steve and Gabriel separately fill in the blanks on some financial potpourri, we'll compare their answers and see why they chose what they did. Join now to listen to these great topics and an excellent listener question!
Don't Fumble in the Retirement Red Zone:
•What is the Retirement "Red Zone," and what makes it such an important timeframe for planning?
•What are some types of retirement fumbles, and can you recover them?
•The plays you call in the red zone are different than the ones you use during the rest of the game, what kind of shifts should you consider making?
•The best way to be sure you don't run out of money in retirement is to _______________
•The stock market has the ability to ____________.
•If your advisor tells you _______________, you should run the other way.
•When somebody comes to visit with you for the first time, they're most likely to be worried about ___________.
•The most common mistake that you see retirees and pre-retirees making is ____________.
•The most gratifying part of your job is ___________.
•"I have a lot of company stock in my 401k. How much do you think is too much, as a percentage of the account?" - Carl
Episode 88: "The Great Resignation" is Upon Us
It's a new year and we have fresh new show topics to look forward to on the Our 2 Cents podcast!
First we're diving into "The Great Resignation" movement and what to keep in mind if you're planning on joining this phenomenon. Plus, we're starting a new monthly planning tip segment in 2022 and we share the very first planning tip today. Listen in now to join the fun!
"The Great Resignation":
•4.2 Million people quit their jobs as of October 2021, many with no plans to return to work
•Are you considering leaving the workforce, perhaps retiring earlier than originally planned?
•What questions should you consider before taking a leap and making an exit?
Planning Tip of the Month - January 2022:
•Know / See / Check-Up on how you're doing financially
•The start of the year is one of the best times to get a "financial map" of where you're going
•Why having savings and spending goals is so important
•Income planning questions to ask that will help you plan ahead
Getting to Know Steve and Gabriel:
•What is your favorite beverage?
•What subject, of any kind, do you wish you knew more about?
Episode 87: 2022 Money Resolutions List - Part 2
Your Our 2 Cents podcast co-hosts Steve and Gabriel are back this week to round out their list of 22 money resolutions for 2022. Tune in to hear what's left on the list!
Plus, the guys will share one of their non-financial resolutions they're setting for themselves in the new year.
2022 Money Resolutions List - Part 2 of 2:
•There's no shortage of ways to consider making money improvements in the new year.
•We wrap up this two-part series with the second half of our 22 resolutions for 2022.
•Whether you resolve to make micro-or macro-improvements to your finances, taking the first step to identify areas in which you could be doing better is a great first step.
Steve and Gabriel's Resolutions:
•Plus, be sure to listen until the end when Steve and Gabriel share a resolution of their own for 2022.
Episode 86: 2022 Money Resolutions List - Part 1
2022 Money Resolutions List - Part 1 of 2:
•With dozens of money goals to consider, we're sharing common improvements and changes we've seen clients want to make over the years.
•From behavioral changes to mindset shifts, we're covering it all when it comes to money goals for the new year.
•Do you have any specific financial goals heading into next year? Reply to this email and let us know, we'd love to hear them!
•We ran out of time to cover all our resolutions on today's show, so join us next week for the complete list!
•"My plan has been to work for one more year, then find part-time work for about four years to supplement my retirement income. But now I wonder if I'd just be better off to continue working full-time for two more years, then just be done with working altogether. Which is better?" - Ted
Episode 85: Retirement Planning is Like Building a House
Before the holiday break, Steve and Gabriel recorded a great episode of the Our 2 Cents podcast. To kick off the show, Gabriel shares a great analogy about retirement planning and the ways in which the fundamentals of building a retirement plan resemble those of building a house.
Next, the guys answer some thoughtful listener questions and wrap things up with some updates that will be coming to Medicare and Social Security in 2022.
Retirement Planning is Like Building a House:
•When building a house, what is the very first step you should take before digging in?
•A blueprint is helpful when visualizing what your "house" will look like, and gives you the opportunity to make changes before the building begins. We'll share how this is mirrored in retirement planning.
•A "Retirement Plan Tracker" or "RPT" is the foundation of every SGL client's plan. So what all is inside this crucial component of the plan?
•Just as every house depends greatly on each of its cornerstones, every financial plan relies on all of SGL's 4 Core Pillars. We'll share what they are.
•"I am turning 50 and I feel like I am behind on my savings. What are my best options to fast-track and get back on track to accelerate my retirement savings?" - Rick
•"In the higher inflationary period we are in, I hear more attention begin given to TIPS. Can you explain TIPS, and whether they should be in someone's portfolio?" - Jeff
Episode 84: Unreasonable Requests and Strange Taxes
Advisors everywhere have had some pretty unrealistic requests come up when meeting with clients. Steve and Gabriel will share some of the ones they've heard on this week's episode of Our 2 Cents, and the key takeaways you can learn from them. Then they look at some pretty quirky state taxes that will leave you shaking your head!
Unreasonable Financial Requests:
•Huge market gains, with little to no risk. Is that achievable?
•Will investors seeking the highest quality financial planning and advice, at the lowest possible price just end up getting what they pay for?
•Does that sneaky little tax trick some advisors are pitching even exist?
•Making exceptions-our thoughts on changing our entire investing philosophy for just one client
The Strangest Ways States Tax You (Or Don't):
•Arkansas eliminated state income tax for Texarkana residents in exchange for this unprofitable tax hike
•Deodorant vs. Antiperspirant-this state taxes these similar products differently
•What "candy" bar is exempt from Illinois' higher tax rate?
•Plus, this state will allow you to avoid sales tax on that fancy new exotic car you've been eyeing