31 episodes

Financial and retirement planning guidance from the team at Mercurio Wealth Advisors in Louisville, Kentucky. Join Chief Financial Advisor Alan Mercurio and Senior Wealth Advisor Troy Bolton each show for helpful conversations about money, life, and retirement. Step into the Retirement Coach's Corner to learn about 401(k)s, IRAs, income planning, investing, and so much more. If you have any questions, call 502-253-9366, email info@mercurioadvisors.com or visit www.mercurioadvisors.com online for more information.

Retirement Coach's Corner Alan Mercurio & Troy Bolton

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Financial and retirement planning guidance from the team at Mercurio Wealth Advisors in Louisville, Kentucky. Join Chief Financial Advisor Alan Mercurio and Senior Wealth Advisor Troy Bolton each show for helpful conversations about money, life, and retirement. Step into the Retirement Coach's Corner to learn about 401(k)s, IRAs, income planning, investing, and so much more. If you have any questions, call 502-253-9366, email info@mercurioadvisors.com or visit www.mercurioadvisors.com online for more information.

    Ep 31: Financial Questions When You’re Between Jobs

    Ep 31: Financial Questions When You’re Between Jobs

    There is so much career change happening for so many people right now. Finding yourself between jobs can be stressful, whether that’s because you were laid off or needed to step away. Today we’ll talk about the challenges, opportunities, and questions to ask when you find yourself between jobs.
    One question you might ask is, is it time for a new career? The last couple of years a lot of people have asked this question. For those close to retirement, it might mean finding something just for the next couple of years to pay the bills. Maybe you can become a consultant.
    Is this the right time to become self-employed? There are more self-employed people now than there have been in our country’s history. There are a lot of things to think about when you become self-employed. Do you know what goes into it? Think about the tax side of it as well as what it will be like to pay employees and still save for retirement.
    What will you do about health insurance? Without health insurance through your employer, you’ll have to figure out how to get coverage. You may qualify for COBRA to stay on your employer’s health insurance plan for some time, but it is costly. If you are a few years out from retirement, you’ll want to know what to expect with Medicare costs.
    Should you do a 401(k) rollover while in between jobs? This might allow you to have more control over the money. Be sure you understand the rules and possible penalties for the rollover process. What happens if you need some of that money before you retire?
    Finally, if you have a severance package, how do you handle it? All of that has to be part of a comprehensive and well-thought-out plan. Have a conversation with a financial advisor to build a successful plan. 
     
    What we discuss in this episode: 
    0:42 - What happens when you’re between jobs?
    1:31 - Is it time for a new career?  
    5:31 - Is now the time to work for yourself?
    8:00 - What will you do about health insurance?
    10:50 - Is it a good time for a 401(k) rollover?
    14:52 - How do you handle the severance package?
    16:22 - What should you do about taxes?
     
    Get additional financial resources here: https://mercurioadvisors.com/podcasts/

    • 20 min
    Ep 30: Financial Decisions During Divorce

    Ep 30: Financial Decisions During Divorce

    Going through a divorce at any age is difficult. If you are near retirement or in retirement, there are some additional financial complications you’ll want to consider amidst the divorce.
    For starters, many women will choose to keep the house. Their home may feel more sentimental or an area of comfort. If that’s your choice, just make sure you know the ramifications of that to make sure it’s a fair agreement. A house won’t provide an income, and instead will still have costs associated with it, even if it is paid off. Sometimes a fresh start with a new place to live can be easier.
    During the divorce, you will likely split up some of your retirement accounts. Make sure to think through what the tax implications and rules are of each account. Think about five years from now and how you can best position yourself for that time. Know what you actually have left after taxes are taken out. If you split a retirement account immediately following a divorce, determine whether you should roll it over directly or if it would be better to take some money out when you can do so without penalty.
    Divorce is an emotional time. Anytime that emotions enter into investing, it’s usually not a good thing. Contact an advisor to help you navigate these financial decisions from a wise and logical standpoint instead of making any rash decisions.
     
    What we discuss in this episode: 
    1:25 - Divorce: who gets the house?
    6:35 - What are the tax implications of splitting up retirement accounts?
    10:22 - Should you roll over a split retirement account directly into an IRA after the divorce?
    12:49 - Be care that you don’t let emotions cloud your decisions.
     
    Get additional financial resources here: https://mercurioadvisors.com/

    • 16 min
    Ep 29: When To Get Out Of Your Own Way

    Ep 29: When To Get Out Of Your Own Way

    Sometimes the biggest thing holding you back is you. If you overthink something or act impulsively, it can have big implications on your financial plan. Let’s talk about the main areas where people tend to get in the way of themselves and what to do instead.
    Are you feeling a little worried about the market at the moment? Alan and Troy share what they tell clients to focus on instead. Think about how much risk your plan can withstand and still have a successful outcome. Even if you’re down, does your market provide what you need and are your at-risk assets appropriately protected?
    Anytime the market is volatile, people will get in their own way as they let fear or greed take over. Financial advisors are there to help you stick with the plan and make logical and strategic decisions with your money. If you think you want to get out of the market, have you considered your plan for getting back in?
    If you leave money in cash for too long, you might feel a bit of regret or wonder when the time is to get back into the market. Another common problem is overthinking the decision to the point of not making a decision at all. Remember that not making a decision is a decision in itself. When you’re getting ready to start drawing this money out, having a relationship with an advisor is so critical because there are so many other things outside of the investments that you have to decide on. Are you prepared to make the right decisions for your situation?
    Listen to the entire episode or skip ahead using the timestamps below.
     
    What we discuss in this episode: 
    0:37 - How do you handle worries about the market?
    6:04 - How do advisors help people get out of their own way?
    11:11 - What about leaving too much money in cash?
    14:40 - Overthinking to the point of never making a decision?
     
    Get additional financial resources here: https://mercurioadvisors.com/

    • 21 min
    Ep 28: Retiring at 55

    Ep 28: Retiring at 55

    Is retiring at the age of 55 feasible? Inspired by an article from Yahoo Finance, Troy and Alan discuss what you need to do to make that dream a reality. Not everyone wants to retire this early, but some are dreaming about retiring as soon as today (or even better, yesterday). In order to make it happen, you’ve got to have the right plan in place.
    When you retire early, you will face certain challenges you don’t want to overlook. Social Security can’t be withdrawn until 62 years old, so do you have enough money to pull from until then? What can you do with your 401(k) if you retire early without facing penalty?
    Do you know how you will pay for health insurance? It’s a big monthly cost and you cannot begin using Medicare until age 65. Without insurance from your workplace, you might reconsider retiring early. For some, doing a part-time job may help offset the added costs of things like insurance but still provide the flexibility you want.
    If you have the money, can you retire whenever you want? You don’t have to have the same retirement age or strategy as your parents or your neighbor. Everyone’s situation is different. Make sure that you are talking through the specifics of what your situation is to find out if you are ready to retire.
     
    What we discuss in this episode: 
    0:53 - Can you really retire at 55?
    1:33 - How often do people want to retire at 55?
    4:04 - What challenges does an early retiree face?
    11:08 - What does it look like to be ready to retire early?
    13:28 - Can you just retire whenever you want?
     
    Get additional financial resources here: https://mercurioadvisors.com/

    • 18 min
    Ep 27: All About RMDs

    Ep 27: All About RMDs

    What do you need to know about required minimum distributions? Are they inevitable or is there something you can do about them?  
    What we discuss in this episode: 
    0:29 - Troy and Alan are back together!
    1:28 - Do you know what RMDs are?
    4:16 - RMD age changed to 72.
    9:43 - Can you avoid taking RMDs?
    14:38 - What do you do if you don’t need the RMD?
     
    Get additional financial resources here: https://mercurioadvisors.com/

    • 20 min
    Ep 26: The Most Important Birthdays in Retirement Planning

    Ep 26: The Most Important Birthdays in Retirement Planning

    We don’t think as much about birthdays as we get older, but we should all be paying attention to certain ages when planning for retirement. You might already be familiar with a couple of the ages we discuss on the show today but we’ll share a few planning opportunities that many people might not be aware of.
     
    What we discuss in this episode: 
    0:49 – Working with advisor out of your market
    2:11 – Age 50
    4:03 – Age 55
    5:07 – Age 59.5
    5:55 – Age 62
    8:08 – Age 65
    9:59 – Age 66 or 67
    11:47 – Age 72
    14:14 – The most important age
     
    Get additional financial resources here: https://mercurioadvisors.com/

    • 16 min

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dustinthewind1985 ,

Great info

A look behind the curtain on how to plan for the future!

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