Retirement talk - Redefining Wealth and Your Money with Laura Stover is a podcast that educates, entertains, and helps prepare our listeners for retirement. It's a show designed for those looking to maximize their financial efficiency and fulfill their lifestyle. It is also geared toward those needing to transition from accumulation to preservation and the necessary shift in how money is managed. Based on Laura’s two decades of experience with financial coaching and consultation to hundreds of individuals across the US, this podcast could make a difference in your retirement income, cutting your taxes, or both!
Laura shares thoughts and ideas from today’s premier experts in the field of retirement, as well as the latest in retirement trends to help you make better financial decisions regarding YOUR retirement.
In each episode, Laura will share financial news and provide insight and resources on topics such as retirement, retirement income planning, reducing unnecessary taxes, protection from market risk, wealth transfer, estate planning strategies, long-term healthcare, social security and much more.
Your host is wealth advisor Laura Stover. Laura is the CEO of LS Wealth Management. She is also the founding partner of LS Tax, a consulting and tax planning firm. Laura is a registered financial consultant and investment advisor. She attended Huntington University, as well as the prestigious Wharton School with a certification in executive leadership, and focus on entrepreneurism. She has been a co-author with Renowned Businessman Steve Forbes as well as a multiple time contributing columnist to many national publications such as the Wall Street journal, CNBC online and USA today. A sought-after speaker and entrepreneur, Laura has close to twenty years of experience as an investment advisor. She has become a well-known financial resource and a go-to advisor for national media outlets and clients across the country.
The focus starts with why you plan to retire in the first place, how you will fulfill your dreams and most efficiently organize your assets. You'll plan how to manage the growth necessary to sustain your lifestyle needs throughout your retirement journey. We want to redefine your wealth and money.
Emotions cost investors dear, research finds
Poor investing decisions driven by emotions cost the average investor 3 percent a year in returns, according to research by Oxford Risk. Emotional decision-making increases during times of market and economic stress, creating even worse returns. For example, a decision to sell stocks when the market lost more than one-third of its value at the beginning of the global coronavirus pandemic could have cost an investor as much as 6 or 7 percent of their yearly returns. To avoid knee-jerk emotional decisions that can cost you, avoid obsessive monitoring of stock prices and the news. In addition, relying on the objective viewpoint of a financial advisor can help. If you have sold out of the market, reinvest gradually over time to avoid losses that could result from mistiming your re-entry.
Emotions cost investors dear, research finds | Financial Times
Investing in gold and silver: 3 key differences
Many investors view precious metals as an appealing option when the economy is floundering and inflation is rising. While gold usually gets all the love, silver can also be considered as a safe haven investment in turbulent times. In fact, investors rushed into both gold and silver in August due to concerns about the pandemic and weakening U.S. dollar. Gold prices leapt above $2,000 an ounce for the first time ever and Silver surged to $28 an ounce, 140 percent above its 2020 bottom.
If you’re interested in investing in either gold or silver – or both – there are a few key differences between the two precious metals to keep in mind. Gold tends to be more expensive and more valued than silver because it is more scarce. Also, the demand for silver tends to be more stable than demand for gold since silver has many industrial uses, such as in electronics, solar panels and cars. That means gold is a better bet than silver when it comes to hedging against inflation. Finally, the price of silver tends to be more volatile than that of gold for several reasons, including the small size of the trading market.
Some investors prefer investing in mining stocks rather than direct investment in silver and gold. That’s an option if you’d like to add a commodity to your portfolio. Before you make any decisions, consult with a fiduciary financial advisor who can see how gold or silver fits in with your overall financial or retirement income plan.
Investing in Gold vs. Silver: 3 Key Differences to Know | The Motley Fool
The digital equivalent of the Peasants’ Revolt – why the GameStop story is both beautiful and terrifying
The digital equivalent of the Peasants’ Revolt – why the GameStop story is both beautiful and terrifying | The Independent
The Game Stop story is quintessentially American – the little guy not only beats up on the big guy, but also gets rich and engages in worthy actions with that new-found wealth. The story begins when Ryan Cohen, founder of the online pet food company Chewy, took a large position in Game Stop stock. Game Stop began discussions with Cohen about his idea to pivot Game Stop to specialty online retailing on games and gaming products.
Small investors picked up on the idea on Reddit messenger boards and began piling into the stock at the same time large institutional Wall Street investors began to aggressively short the stock, betting against the idea and Game Stop in general. Short selling involves borrowing shares from big institutions in the hope that the price will fall. If that happens, these investors can make big profits buying the stock back at the new low price. However, as most of you know, Game Stop then went on a wild ride, at one point increasing 700 percent above its pre-Cohen stock price. In the process, many short sellers came out on the short end of the stick, losing millions of dollars.
While the spectacle may be entertaining, speculating in the stock market can be dangerous. The paper profits many gained from Game Stop have already evaporated, as the stock closed at $50.31, down 16.15 percent on Tuesday, Feb. 9.
8 Ways To Invest Confidently In Retirement
If you’re still sitting in cash because of fear, it’s time to get a plan to get back into the market. Or maybe you have had fear because of a change in government and the unknown you are thinking I need to sit on the sideline a while and see what happens.
All too often, investors flee the market out of a knee-jerk feeling that the market is headed in the wrong direction. However, you can’t – and shouldn’t – sit on the sidelines forever, because stocks are a part of virtually every type of retirement income plan.
That doesn’t mean you need to dive directly into the stock market, or have misconceptions about certain vehicles being less risky. But you should do something. Often, I tell clients, you are trading one risk for another because there is no way to completely avoid risk, even if you hide all your money under your mattress. Interest rate risk is very real. The erosion of purchase power and not having a proper income plan lead to other types of risk. Longevity risk is the number one risk we will face in retirement. Market risk is only one of many different types of risk. Being lazy isn’t beneficial for anyone, and the same goes for your money.
There is always a place to go with your cash for growth, and you don’t necessarily need to take risk. In the accompanying podcast based on this article we educate listeners on different vehicles that can substitute as a cash alternative. Having some cash in an emergency bucket, but the right amount is a good thing typically 8 months I even suggest 12 months but overweighting retirement funds in cash could create and contribute to other types of risk. You may need to step out of the past and consider tools you might have passed over prior. There’s a reason the front windshield in your car is bigger than the rearview mirror. The most important elements are always in front of you.
President Biden’s Great American Rescue Plan
Now that inauguration day has passed, a new administration takes over in the White House and a new Congress is ready to take up President Biden’s $1.9 trillion plan to stimulate the economy. This plan includes additional stimulus checks in the amount of $1,400 per American, increased unemployment benefits, an increase in the federal minimum wage, state and local government aid and funding for COVID-19 testing and vaccinations. While there is no guarantee that the legislation as written will become law, it’s still a good idea to prepare just in case.
The Top 4 Retirement Concerns—and How to Handle Them
If you’re like most Americans, your retirement concerns are focused around four key areas: paying for healthcare, saving enough money, maintaining an income stream in retirement and having too much debt. To increase your chances of building a sustainable retirement, you can learn more about healthcare expenses in retirement and make plans for how to pay for them as well as getting a handle on how much money you will need in retirement overall and maximizing your savings opportunities while you are still working. You can close any potential gap in your retirement savings by working a few years longer and waiting to claim Social Security until you are at your full retirement age. Finally, consulting with an experienced retirement income planner or credit counselor may help you figure out how to pay off as much of your debt as possible before you retire.
Bank of America Better Money Habits
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New to Laura’s Show
You can really hear the passion in Laura’s voice! Love the value you bring to your episodes ☺️
Important retirement concerns answered simply!
Interesting retirement topics answered in a direct and informative way. Laura really keeps the information current with weekly shows in a short digestible format.
Very relevant and helpful info!