Wealthy Habits Podcast Dave Elizondo

Spouses plan as one. Retirement paths may blur. Clear the way, find peace… Yes, that’s a haiku. In today’s episode, we’re going to help couples get on the same page in their retirement plans with the serenity of poetry.
Each haiku contains helpful bits of financial wisdom that will address some of the common ways couples mess up their retirement futures. Dave and Drue will decipher each haiku and explain the nuggets of wisdom that you can pull from each one.
 
Here’s some of what we discuss in this episode:
The decisions that need to be made around your pension and why you need to be on the same page as your spouse. Each person's claiming age, work history, and other factors can affect the couple's total benefits, and different strategies may be more advantageous depending on the couple's specific circumstances. When couples fail to talk about what they want to do in retirement, they may find that their expectations and desires for this period of their lives are not aligned. When couples don’t manage risk collaboratively, one spouse might be overly anxious about their financial future while the other could feel too restrained if a conservative approach is taken.  
Contact Dave and Drue: 
Web: https://www.truefinancialpartners.com/
Email: info@truefp.biz
Phone: 877-359-8783
 

Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future, but that’s a core principle in retirement planning. Many of the decisions you make during the planning process and the strategies you implement are done to put you in a better position when retirement rolls around. Today we'll talk about some of the situations shwere you might be inclined to take the immediate benefit, when you should really consider the delayed rewards. 
 
Here’s some of what we discuss in this episode:
Contributing to your 401k every month is one of the easiest ways to save for retirement. Why paying taxes now might benefit you much more than paying them when you pull money out of your 401k in retirement. Pulling money out of your emergency fund for another purpose can cause problems when unforeseen expenses pop up. Regular health check-ups and preventative care could help you avoid severe issues and high medical costs.  
Contact Dave and Drue: 
Web: https://www.truefinancialpartners.com/
Email: info@truefp.biz
Phone: 877-359-8783
 

In this episode, we want to provide an overview of interest rates for those who aren’t quite sure why they move the way they do. It’s a question we get a lot from people, especially with inflation up and interest rates more than doubling over the course of a year. Dave and Drue will explain the Fed’s actions and help you better understand how investing strategies change in a high interest rate environment.
 
Here’s some of what we discuss in this episode:
Why the Fed has adjusted the rates so significantly in the last two years? How do they determine when to lower rates again? How does inflation fit into this conversation? What does it mean for individuals if rates start dropping again? The connection between interest rates and stocks and bonds. How do we work with clients on investment strategies as interest rates change?  
Contact Dave and Drue: 
Web: https://www.truefinancialpartners.com/
Email: info@truefp.biz
Phone: 877-359-8783
 

“Learn from the mistakes of others. You can’t live long enough to make them all yourself.” – Eleanor Roosevelt… Ever wish you could foresee financial missteps before they happen? In today’s episode explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you.
Stay tuned as Dave and Drue warn against retiring too early without a proper plan, overpaying for your children’s college tuition, overspending in your peak earning years, and more. Whether you're in your 20s or approaching retirement, this episode offers practical insights and strategies to help you make informed financial decisions and avoid common financial pitfalls.
 
Here’s some of what we discuss in this episode:
Taking premature IRA withdrawals “Lifestyle creep” in peak earning years + the danger of overspending Tuition costs and supporting adult children Retiring too early without a proper plan Roth IRA advantages and the importance of financial education  
Contact Dave and Drue: 
Web: https://www.truefinancialpartners.com/
Email: info@truefp.biz
Phone: 877-359-8783
 

The retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these hidden, but essential questions about retirement.
How much are your tax deferred savings going to cost you in taxes in retirement? How does where you live or plan to live impact your retirement situation? Listen in as Dave and Drue tackle these commonly overlooked questions so that you can gain the clarity you need to take on your retirement years with confidence!
 
Here are the hidden questions that we discuss in this episode:
How much are my tax deferred savings going to cost me in taxes in retirement? How much can I withdraw from my savings each year? Should I still have life insurance when I’m retired? Does where I live (or where I plan to live) greatly impact my retirement situation? How much am I really paying in fees and commissions?  
Contact Dave and Drue: 
Web: https://www.truefinancialpartners.com/
Email: info@truefp.biz
Phone: 877-359-8783
 

We’ve got a mailbag edition of the podcast for you today! We’ve received some excellent listener questions recently, and we’re going to dive into a few of them in this episode. We cover a wide variety of topics, ranging from 529 plans to advisor fee structures, so stick around to see what you can learn.
Rosemary asks how much is too much to spend on a forever home. Valerie asks Dave and Drue for their thoughts on combining finances after getting remarried. Stay tuned as we explore potential pitfalls and offer practical advice on navigating the complexities of retirement.
 
Here are some of the questions we answer in today’s show:
I owe 21,000 on my truck, but that's my only debt. Should I make a withdrawal from my 401K to pay off the truck and be debt free? Should I set up a 529 plan for my grandkids or just invest on my own and give them the money when they go to school? How much is too much to spend on a forever home? I’ll likely be a widow for a significant portion of my retirement years. What sort of financial planning challenges does this create for me? I've talked to a few financial advisors about how they get paid and it sounds like they all have completely different models. Are there this many different fee structures or does everyone just explain it differently?  
Contact Dave and Drue: 
Web: https://www.truefinancialpartners.com/
Email: info@truefp.biz
Phone: 877-359-8783