"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 158: Long-Term Care Statistics to Help You Plan
Long-term care insurance can be complex, and some people may not fully understand what is covered and what is not. Policies vary widely, and individuals may be unsure if the coverage is worth the cost. On today's podcast, Steve and Gabriel are sharing some must-know stats about long-term care to help you make more informed decisions.
Must-Know Long-Term Care Statistics:Usage of Long-Term Care: The percentage of people who will need long-term care in their lifetime, including paid services, nursing care facilities, and more.The Role of Dementia: The prevalence of Alzheimer's disease or other forms of dementia, specifically for those in nursing homes.The Cost of Care: Estimated lifetime costs of care for various care needs.Long-Term Care Insurance: Polices are changing these days, how in-demand are they, and are they worth it?Getting to Know Steve and Gabriel:What's a small thing that makes your day better?What was your favorite age growing up?
Episode 157: Talking Turkey and Tax Planning
On this episode of Our 2 Cents, Steve and Gabriel discuss various end-of-year tax planning topics to consider before 2023 comes to a close. But first, they're sharing educational and festive Thanksgiving fun facts!
Thanksgiving Fun Facts:Talking Turkey: The states that have towns named 'Turkey,' how many turkeys are prepared each Thanksgiving, a Butterball Turkey Talk line, and more turkey facts.History facts about this long-standing tradition that you might not know.End-of-Year Tax Planning Tips:The potential benefit of itemizing deductions, such as mortgage interest and charitable contributions, and "bunching" deductions to maximize tax savings.The benefits of tax-loss harvesting, contributing to 529 plans, and taking Required Minimum Distributions (RMDs).The advantages of Roth conversions, maximizing IRA contributions, and conducting a withholding analysis to avoid under-withholding penalties.
Episode 156: Conquering the Retirement Mountain
Retirement planning and climbing a mountain may seem like vastly different endeavors, but there are several intriguing similarities between the two. On today's podcast, Steve and Gabriel share how in both cases, setting clear goals, careful planning, perseverance, and adaptability are the keys to success.
Conquering the Retirement Mountain:Preparing for the climb.The ascent to the top of the mountain.Establishing base camps.Reaching the summit.Descending safely.Adapting to the unpredictable changes.Getting to Know Steve and Gabriel:Have you ever disliked something and then changed your mind about it later?
Episode 155: A Spooktacular Halloween Special
Steve and Gabriel are embracing all things Spooky Season on today's show! They'll share with you the 10 best haunted houses around the country, plus the scariest one of them all. Then they discuss some parallels between this haunted holiday and retirement.
The 10 Best Haunted Houses in the US:As voted by USA Today readers, these haunted houses were chosen for the quality of their actors, set designs, and special effects, as well as value for money.From a petrifying penitentiary to multiple fields of screams. Any Halloween enthusiast will want to hear about these haunted experiences.The Scariest Haunted House in America:This one requires a 40-page waiver, a doctor's note clearing you physically and mentally, a safe word, and more.A whopping grand prize if you complete the experience, but has anyone ever successfully finished?Retirement is Like Halloween:Both Halloween and retirement can be scary.You shouldn't navigate retirement or a haunted house alone.Both Halloween and retirement involve assuming a new identity.There are some tricks and also some treats in retirement, just like All Hallows' Eve.Having a plan can mean you get to treat yourself (with no stomachaches)!
Episode 154: Retirement Planning Challenges for the Wealthy
Those who have accumulated significant wealth face unique challenges and opportunities when planning for retirement. Do you know at what value of assets someone would be considered a high-net-worth individual? The amount may surprise you! Listen in today as Gabriel and Steve dive into the distinct strategies and factors that come into play when the wealthy plan for retirement.
Getting to Know Steve and Gabriel:If you were a world famous gardener but could only plant one plant, what would it be?Do you hit the snooze button or wake up immediately?Retirement Planning Challenges for the Wealthy:What is a high-net-worth (HNW) individual?What makes a HNW plan a little more complex?How is the tax impact different for HNW individuals?Are there any differences or similarities in how higher net worth clients tend to invest their money?How do HNW individuals handle their estate planning items?What are some myths out there about retirement planning for HNW individuals?
Episode 153: Money Mistakes to Learn From
Do you ever wish you could foresee financial missteps before they happen? On today's episode of Our 2 Cents, Steve and Gabriel are exploring some real-life stories of regrets to help you learn from the mistakes of others. Then they're answering a couple client questions they received this week.
Money Mistakes to Learn From:Maybe I should have investigated opportunities for Roth IRAsI spent way too much money in my peak earning yearsI refinanced my mortgage too many timesI retired too early and now it's costing meI should have been safer with my investmentsI kept my kids on the payroll for too longQuestions from Clients:"I have the option to renew my CD for one year for 5.25%. Should I do that? - James"How does all the economic and political stuff going on in the world affect me?" - Mary