It's complicated enough passing on easy to value assets like retirement accounts, precious metals, houses, and the like to your heirs. What about harder to value and more complex assets like family farms and mineral rights? There are right and wrong ways to pass on these valuable assets to your loved ones. In this episode, we visit with estate planning attorney Richard Winblad to discuss key things you should consider when leaving farms and minerals in your estate plan. Plus, examine how to structure a mineral lease or sale when one comes your way.

It's All About the $Money, Honey!

Episode 63: Minerals, Farms, and Heirs, Oh My!

The financial decisions you make up until retirement are largely been about how to manage your 401(k) and your budget. However, in retirement, the number and complexity of decisions and questions increases dramatically. When should you apply for Social Security? Which expenses will Medicare cover, and which will it not? Should you keep your life insurance or drop it and get long term care insurance instead? How should your portfolio change? Will you run out of money? Not just any financial advisor will do in retirement. You need one that has experience with your needs in retirement. You need a RETIREMENT advisor. In this episode, we reveal the key questions you should ask when hiring a retirement advisor.

Episode 62: Questions To Ask When Hiring A Retirement Advisor

It's said that the only guarantees in life are death and taxes. Change is another guarantee. Life is ever-changing and the decisions you make need to adapt to these changes. This means the plans you make need to adapt as well. In this episode, we share examples of how we help our clients' financial plans adapt and change as their lives change.

Episode 61: Dealing With Life Changes

When you become a Millionaire, more opportunities to grow your wealth will come your way. Of course, becoming a Millionaire can also present more challenges. It's just a fact of life that as your wealth grows, there are more things you have to handle. Protecting your wealth, minimizing taxes, managing cash flow, leaving a legacy, and analyzing new investment opportunities are all part of being a Millionaire. In this episode, to give you some ideas for handling your wealth, we share stories of real clients we have helped do the same.

Episode 60: More Money = More Problems

We get questions from everywhere. Listeners of our radio show and podcast. Viewers of our television show. Guests in our educational courses and webinars. The lion's share of questions come from our clients. This week's episode features real questions from real clients. How should I handle an inheritance to be more tax efficient? Why did my Medicare premiums increase? Why could now be a good time for a Roth conversion? What's the benefit in delaying my Social Security? Plus, how your garage could be the key to entering the rental real estate business.

Episode 59: Real Question From Real Clients

The current state of our world has millions of people on edge. If you're feeling a little out of sorts, you definitely are not alone. You've likely heard family and friends describe feeling unhappy, anxious, or afraid. It feels as though you have no control over anything. It's at times like these that you do the only thing you can do - control the controllables. One thing you have total power over is your money. How to save it. How to invest it. How to spend it. In this episode, we address handling an inheritance, ideas for dealing with cash from a real estate sale, setting up an inheritance plan for grandchildren, and choosing the best option for a pension.

Episode 58: Control The Controllables

Investing used to be relatively simple with few options. Choose a few mutual funds, focus on growth, and let it ride. Today, we have instant access to an almost limitless amount of information. Yet, it's still difficult making good investment decisions. We've gone from having too little information and guidance to having too much, causing confusion, anxiety, and frustration. In this episode, special guest, Frank Maggiora of AssetMark, Inc., one of the largest investment management platforms in the United States, shares his thoughts and insights on how investors' options have changed, the expanding role of technology, and some of the key services wealthy families are now expecting.

Episode 57: The Evolution Of Investing

What decisions would you need to make to earn the worst possible return in the stock market? That's probably not a question anyone has ever asked you, or that you have ever considered. However, it could be the key to avoiding some of the biggest mistakes investors make. It's called Inversion Thinking. If you can identify the worst decisions, you can take steps to make the opposite ones. In this episode, we share how ignoring taxes, timing the market, chasing big returns, and having a short-term focus can help you become a terrible investor...and how to do the opposite.

Episode 56: How To Be A Terrible Investor

In this short podcast, Damon King, CFP® explores whether or not the economic recession caused by the COVID-19 pandemic is over and, if so, what evidence is there to suggest that it's true.

Episode 55: Is The Coronavirus Recession Over?

In this short podcast, Damon King, CFP® discusses the Securing A Strong Retirement Act that is currently being debated in the Senate and House of Representatives. If passed, the new law would have significant impacts on retirement planning, and the way you save and use your money.

Episode 54: A New Retirement Law That Could Impact You

When you're retired, where will you live? How much will it cost? What insurance will you need? How will your portfolio change? Will you need to update your Will or Trust? As important as these questions are, you can boil retirement planning down to two key factors - cash flow and tax efficiency. Everything you want to do in retirement will either be helped or hindered by your cash flow, and that cash flow will be taxed. If you get these two things right, most everything else falls into place. In this episode, we discuss how to decide when to claim Social Security, well known tax deductions that might be costing you more than you thought, how to supercharge your protected money into an income machine, and why now could be a great time to consider a Roth conversion.

Episode 53: Managing Cash Flow and Tax Efficiency

At the start of 2021, we made two bold predictions about the market. The first was that it would continue growing through the first quarter then slow down and level out as we went through the summer. The second was that we would then see the market pick up steam entering the fourth quarter and end the year strong. In this episode, we examine how we're doing on those predictions. We also share why you might want to limit your exposure to European stocks in the short term.

Episode 52: Two Bold Predictions

People procrastinate in saving for retirement for a variety of reasons. It seems overwhelming, work gets in the way, they don't feel confident in their decision making, etc. It's different for everyone. However, a recent survey by Charles Schwab identified some common factors that cause people to procrastinate MOST in saving for retirement. In this episode, we'll reveal the key factors that might be paralyzing you from taking action to save and steps you can take to overcome them.

Episode 51: Overcoming Barriers To Saving

Whether it's reading more books, watching less television, or simply staying out of debt, millionaires practice great wealth building habits. Something else millionaires do well is maintain their wealth after they build it. After all, it's not about what you earn, but what you keep. In this episode, we explore how millionaires preserve their wealth, including 6 ways they are using life insurance, unique tax deferral and avoidance strategies, and simple ways to reduce family fighting over their assets when they pass away.

Episode 50: Building and Keeping Wealth

Even if you're already well on your way to saving for retirement, you might not know exactly what it takes to get there. You are not alone. Fidelity Investments surveyed 1,200 Americans who were not yet retired, but had at least one retirement account. What they found was concerning – too many Americans have a lot of misconceptions about retirement, causing them to make poor decisions. In this episode, we share 5 retirement myths including how much you should have saved, how much you can safely spend, how the stock market performs over time, and the real impact of healthcare costs.

Episode 49: 5 Retirement Myths Too Many People Still Believe

It's the show where fun meets finance. Join The Financial Diva, Victoria Woods, and the King of Finance, Damon King, each week for tips on how to Rock Your Retirement!

hubhopper

It's All About the $Money, Honey!

hubhopper