Retirement Talk Podcast with Laura Stover Redefining Wealth

Many times we find that retirees only look at that investment pillar with the traditional assets in mind. They focus only on investments and ignore critical areas that also need attention.
 
In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will break down an article on an area of diversification that could qualify for income planning, along with tax planning and estate planning. People can be closed minded to new ideas or non-traditional investments but we want to make sure that no option is left behind.
 
Today’s discussion on life insurance and annuities could benefit you as a volatility buffer or with tax planning, so it’s worth learning more about. The goal is to utilize a fully diversified portfolio and these tools might be part of constructing that during the Redefining Wealth® process.
 
Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/
 
Rate, Review and Subscribe to the Podcast:
https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laura-stover/id571347188
 
How to Connect:
redefiningwealth.info
lswealthmanagement.com
Schedule a Review: https://redefiningwealth.info/schedule/
 
Timestamps (show notes):
4:13 – A little history on how retirement income has changed
7:54 – The tax component of this discussion
10:27 – How life insurance fits into a portfolio
14:25 – The modified endowment contract
17:36 – Why a fiduciary is so valuable in this process
23:32 – How the deferred income annuity could benefit you
26:24 – Utilizing a fully diversified portfolio.  
 

We all have our own savings goals and dreams of retirement, but difficult markets and high inflation can be quite discouraging. Sometimes it feels like you’ll never achieve what you’ve hoped for. So what’s the secret to building wealth and reaching those goals?
In this episode, Laura Stover, RFC® is joined by Darlene Tucker, CFP® and Kyle Davis who will break down an article about a path to $10 million and what it takes to reach a milestone like that. For many people, that might seem completely unattainable, but there are steps you can take now to maximize growth and get the best returns on your money.   
The key to building long term wealth is consistency, having a plan, and identifying a destination you want to achieve. The numbers show that over time if you have an average rate of return that you’re comfortable with and a consistency in investments, the total returns emphatically produce favorable results. There will always be bumps in the road and issues to navigate, but with a good plan, you can overcome those things.
Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/
Rate, Review and Subscribe to the Podcast:
https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laura-stover/id571347188
 
How to Connect:
redefiningwealth.info
lswealthmanagement.com
Schedule a Review: https://redefiningwealth.info/schedule/
 
Timestamps (show notes):
6:13 – Inflation is top of mind right now
7:51 – Consistency and planning is key
11:06 – Start with process rather than product
14:09 – The magic of compounding interest
18:51 – Steps to take to reach that $10 million goal
22:17 – The value of having a quality team on your side
29:45 – Shifting your mindset as your approach retirement
33:04 – True planning gets into so much more than retirement accounts

Being flexible with spending absolutely matters in financial planning and it often gets overlooked when people step into retirement. Most people look at their budget and the assets that they’ve accumulated and that’s where they stop.
In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will examine an article by Dr. Wade Pfau that discusses variable spending strategies. Whether it’s inflation-adjusted fixed percentage rule, floor and ceiling rule, the ratchet effect, or others, we’ll provide a thorough explanation of most of the spending strategies included in the article, but we’ll keep it high level to help you take away the important aspects from what we want to convey.
This show might be a little more academic and in-depth than normal, but don’t tune out because this conversation is critical for investing and distribution. As inflation continues at a high rate and the debt ceiling issues continue to linger, you want to make sure you retirement foundation is on solid ground with the proper income plan.
Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/
 
Rate, Review and Subscribe to the Podcast:
https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laura-stover/id571347188
 
How to Connect:
redefiningwealth.info
lswealthmanagement.com
Schedule a Review: https://redefiningwealth.info/schedule/
 
Timestamps (show notes):
5:18 – ROI becomes reliability of income in retirement
7:25 – Constant inflation-adjusted spending
11:41 – Keeping your spending constant can increase risk
15:46 – Why you might shift more distribution into the early years of retirement
17:24 – The fixed percentage rule
21:50 – Why can’t the government come up with a proper spending sstrategy?
28:29 – Income planning is the foundation of a purpose-based allocation
 
 

Our relationship with money is much like the other emotional relationships we have in other parts of our lives. We tell ourselves we’re done making the same types of mistakes but end up repeating those same behaviors the next time the situation arises. The same thing happens in terms of how we invest our dollars and how we act when the market isn’t going up.
In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will dive into a recent article that discusses the behavioral side of investing and share what they’ve seen from people as they navigate the rough economic waters we find ourselves in. They’ll also talk about what’s being done from the Fed to improve market conditions and whether a digitalization of money is coming soon.
It’s important to have a financial professional on your side to help you through the good times and the bad. Understanding how our behaviors play a role in our decisions will hopefully help you avoid repeating those same mistakes both now and in the future.
Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/
 
Rate, Review and Subscribe to the Podcast:
https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laura-stover/id571347188
 
How to Connect:
redefiningwealth.info
lswealthmanagement.com
Schedule a Review: https://redefiningwealth.info/schedule/
 
Timestamps (show notes):
4:43 – What this week’s article says about decisions
7:57 – Understanding portfolio losses
13:02 – Why we feel like ‘this time is different’
18:32 – The investing questions you need to ask yourself
19:27 – The steps the Fed is taking to ease inflation
24:48 – How soon will the digitalization of money happen?
29:45 – The role perception plays in our behavior

We work with people that have investing questions all the time but there are two that investors often boil it down to. They want to know how long they need to be invested to be sure they don’t lose money and how long they need to stay invested to make sure they do better than an alternative investment.
In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will explain how a successful investment plan has to get measured over the long term to truly evaluate how well it has done. As they discuss, you need to have a long enough duration to let the performance of the solutions you put in place, give you the outcomes you’re looking for.
So how do you do that? Let’s take a look at the historical data and see what some of the bright financial minds have said. Then we’ll talk through the key considerations when building an investment strategy that are aimed at success over the long term.
Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/
 
Rate, Review and Subscribe to the Podcast:
https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laura-stover/id571347188
 
How to Connect:
redefiningwealth.info
lswealthmanagement.com
Schedule a Review: https://redefiningwealth.info/schedule/
 
Timestamps (show notes):
5:36 – How a random walk applies to long term investing
8:54 – Using a football analogy to show how this works
10:20 – What the data shows us
12:58 – Our view on long term investing and the bucket approach
16:07 – The other scenarios you have to consider
19:09 – Why 20 year periods are so important
27:28 – How important are fees?
29:16 – Finding your risk capacity

The market has shown some signs that it might be turning around, but we’ve seen quite a bit of up-and-down over the past few years. These fluctuations have created some nice gains at times for investors, but a lack of tax planning can keep you from maximizing your financial gains.
In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will delve into the power of tax harvesting and the role it plays in creating a comprehensive tax plan. Throughout the show, they will explain how ex-dividend date, the wash rule, and tax thresholds work and why these things are important for making investment decisions. If you don’t have a professional helping you with this, there are a number of potential pitfalls that we’ll discuss today.
Join us and discover how utilizing tax harvesting can be a powerful tool in your financial planning arsenal, allowing you to make the most of your income and helping you secure a comfortable retirement.
Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/
Rate, Review and Subscribe to the Podcast:
https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laura-stover/id571347188
How to Connect:
redefiningwealth.info
lswealthmanagement.com
Schedule a Review: https://redefiningwealth.info/schedule/
Timestamps (show notes):
2:09 – Is the market turning around?
6:24 – Repositioning assets for tax harvesting
10:37 – How does ex-dividend date fit into this?
13:30 – Understanding the wash rule
18:16 – Tips for avoiding tax thresholds.  
25:42 – Expertise needed to execute tax harvesting effectively