Financial Choices Matter

Healthcare can be one of the biggest expenses in retirement and it keeps steadily increasing. We will look at some statistics and numbers as it relates to paying for healthcare and how to plan for these costs. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  2:23 - Main Topic: The Rise Of Healthcare Costs 4:17 - Medicare Premiums 6:10 - Early Retirement 8:06 - Social Security Percentage 9:04 - How To Combat Rising Costs 13:05 - Mailbag: Ross Asks About Tax Implications When Selling An Inherited House

Sure, life insurance is one of the more boring topics to cover on a podcast. And a lot of what you hear is going to warn you why you should NOT get various types of life insurance. But our goal on this episode is to focus on the positive and analyze the reasons why you should get life insurance, or at least consider it. Many people think that once the kids are out of the house, you don’t need insurance anymore. But there are some other reasons why life insurance can be a useful part of your retirement plan. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:32 - Main Topic: Why You Should Consider Life Insurance 2:54 - Income Replacement 4:37 - Tax-Free Income 8:40 - Long Term Care Coverage 10:05 - Second Topic: American Retirement Statistics 10:52 - Retirement Age & Income 11:57 - Life Expectancy 14:12 Long Term Care 18:23 - Mailbag: Catherine Asks For Advice On Investing A Lump Sum Of Money

There are some important terms you’re going to come across as you prepare for retirement. Having a basic understanding of these will help you achieve financial success, so we’ll cover what they mean and what you should know on today’s episode. And don’t worry. We won’t go quite so far down the rabbit hole where we expect you to be able to explain how a company’s P/E ratio meshes with it’s Alpha and Beta ratings to determine how much stock you should buy. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:24 - Main Topic: Financial Jargon 2:00 - Fiduciary 3:50 - Volatility 5:29 - Risk Tolerance 6:27 - Dollar Cost Averaging 8:26 - Asset Allocation 10:22 - Second Topic: Common Housing Questions 10:50 - Does It Make Sense To Pay Off The House? 12:22 - Signing It Over To A Family Member 15:17 - Reverse Mortgage 17:08 - Mailbag: Tracy Asks What To Do If You’re Too Scared To Put A Plan Together

It does seem like anyone can call themselves a financial advisor these days. So how can you sort through the different levels of qualification in the industry? On this episode, we’ll try to explain some of the most common designations you’ll encounter on your financial planning journey. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:18 - Main Topic: Financial Jargon 2:04 - IAR & RIA 4:28 - Different Licenses 8:23 - College Degree 10:51 - Mailbag: Doug Asks How 401(k) Rollovers Work 13:57 - What’s Buggin’ Charles?

Most people, when trying to plan their retirement, have to guess about the answers to some important questions. Let’s talk about some of those questions and why you need to have a better answer than just a guess. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:21 - In The News: Inflation 7:24 - Main Topic: Guessing In Retirement 7:43 - How Much Money Will We Need Monthly In Retirement? 9:36 - Emergency Fund 12:05 - Plan For Inflation 14:30 - Healthcare Costs 16:58 - Mailbag: George Asks About Diversification In His IRA

We all should realize that planning for retirement is relatively complex. There are a lot of different moving parts and factors to consider. Adjusting any of these variables can impact the end result. But is there one part of the retirement planning process that’s most important? We’ve assembled several opinions on the topic from across the internet. Let’s see if the advice hits the mark or needs further exploration. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  2:12 - Main Topic: Most Important Parts Of Retirement Planning 2:41 - Start Now 3:50 - Risk Tolerance 5:47 - How To Make Your Retirement Fulfilling 7:49 - Sam Asks About A Life Insurance Strategy 10:09 - Charles Explains His Newest Certification

Some people feel that they’ll save money by handling their investments themselves instead of working with an advisor. Others may like the challenge of doing it themselves. Still others just don’t know who to trust so they end up not working with anyone. Let’s talk about some reasons that you might need an advisor. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:37 - Main Topic: Who Even Needs A Financial Advisor? 2:15 - You’re A Procrastinator 4:31 - You Have No Idea What To Do 7:07 - You Want To Enjoy Retirement 9:33 - Mailbag: Vicky Asks If She Should Split Her Retirement Assets 13:03 - Charles Is Now A Certified Dementia Practitioner

At the beginning of every year, people love to make predictions and prognostications about what’s going to happen to the economy in the coming months. Let’s take a look at what the “experts” are saying about the economic outlook of 2022. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  2:03 - In The News: San Francisco Suspended The City’s Cannabis Tax 4:53 - Main Topic: 2022 Predictions 5:16 - Inflation 7:32 - GDP Forecast 11:29 - Mailbag: Steve Asks If It’s Wise For His Mom To Sign Over Her House To Him 15:05 - Mailbag: Laura Asks About Early Retirement Considerations

Time for a little fun on this episode. We’ll use some fill in the blank prompts to spark good discussion about relationships between advisors and their clients, the stock market, common planning mistakes, and much more! Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:15 - Main Topic: Fill In The Blank 1:30 - The Best Way To Be Sure You Don’t Run Out Of Money? 2:49 - The Stock Market Has The Ability To? 4:36 - First Time Clients Are Mostly Worried About? 6:15 - Most Common Mistake? 8:28 - The Most Gratifying Part Of The Job? 11:09 - Mailbag: Cliff Asks How Much Company Stock Is Too Much 13:12 - Mailbag: Rebecca Asks How To Stay Motivated When Saving For Retirement

This is part 2 to our resolutions for 2022. See if you might be able to implement a couple of these to kick off the new year in good, financial health. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  2:20 - Check Your Credit 4:00 - Check Your Fees 6:36 - Share Your Knowledge 8:49 - Donation Opportunities 10:52 - Review Your Tax Bracket 13:13 - Ask If A Roth Conversion Is Right For You 14:48 - Update Your Paycheck Withholdings 15:52 - Rebalance Your Portfolio 16:56 - Plan Your Transition To Retirement 19:02 - Consolidate Accounts 20:25 - Listen To More Episodes Of This Podcast

You might not be able to follow through on all 22 of these resolutions, but implement even just a few of these and you’ll be well on your way to a more prosperous financial life in the coming year. We will go over the first 11 resolutions on today's show. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:34 - Main Topic: 22 Resolutions For 2022 2:24 - Reduce Your Debt 3:50 - Boost Your Retirement Savings 5:15 - Emergency Fund 6:18 - Don’t Overreact To Headlines 7:46 - Implement A Budget 9:08 - Meet With A Financial Professional 10:48 - Check Beneficiary Designations 12:24 - Have Tough Conversations 13:54 - Audit Your Insurance 15:19 - Refinancing Your Mortgage 16:44 - Get Organized 18:10 - What’s A Fiduciary?

Let’s look at the ways that some people try to cut corners in their retirement planning. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:38 - Thanksgiving 2:54 - Main Topic: Quit Cutting Corners In Financial Planning 3:33 - Getting Legal Documents In Place 6:53 - Not Getting Organized 8:57 - Avoiding Long Term Care Discussion 13:21 - Mailbag: Elizabeth Asks If She Should Rollover Her Pension Fund 16:41 - Mailbag: Mary Asks If It's Wise To Start Budgeting

To successfully complete a jigsaw puzzle, there are some strategies that you’ll want to keep in mind. And many of those same strategies apply to retirement planning. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:44 - Main Topic: Retirement Jigsaw Puzzle  2:05 - The Big Picture 3:47 - Building The Framework 5:08 - Sorting Out Your Priorities 8:30 - End Game 11:34 - Mailbag: Wade Asks About Early Retirement 16:46 - Mailbag: Vicki Asks About Working In Order To Receive The Maximum Social Security Benefit

Having a good financial plan can help you resist some of the financial temptations that the average person will face. Let’s talk about some of these common temptations that we often see people fall victim to. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:15 - Big Purchases Before Retirement 5:21 - 401(k) Match 7:39 - Deferring Taxes 11:05 - Working Until You Die 13:14 - Relying On The Government 16:28 - Not Leaving The Kids Anything 19:22 - Roy Asks For Suggestions On How To Get His Spouse More Involved With Their Finances

Make sure you’re well-versed in these retirement income planning essentials before you head off into retirement. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  2:47 - Planning To Retire For Decades, Not Just Years 5:35 - The Rule Of 72 6:36 - Safe Investments 8:43 - Inflation 13:23 - Being Able To Narrow Down Information 16:22 - Self-Motivated 18:33 - Time To Work On Plan

There’s an old quote that says, “Age is the price of wisdom.” Let’s talk about how that applies to the financial world. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Essentialism: https://amzn.to/3DI8Af5 Digital Minimalism: https://amzn.to/3DyHCX2 Show Notes:  2:19 - Age, Wisdom, & Information 4:52 - Things We Wished We Had Known Sooner 6:39 - Do People Tend To Worry About Finances More, Or Less When Approaching Retirement? 8:50 - Leaving A Legacy 12:18 - Mailbag: Karen Asks If She Should Use A Robo Advisor 15:42 - Summer Reading

We are back after taking a short break for the summer. We catch up with what Charles has been up to all summer. We will also break inflation down with some simple examples. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:42 - Summer Break 2:55 - Definition Of Inflation 5:47 - Is It Temporary? 8:29 - Dealing WIth Inflation During Retirement 11:11 - Adding Tweaks To Your Plan 13:02 - Closing Thoughts

Sometimes the easiest way to learn about something is make it really simple. Like some of the first true/false tests you might have taken in school, let’s play a round of fact or fiction to test your financial planning acuity. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:21 - How Would Charles Would Advise Warren Buffett 4:53 - Your Social Security Is Taxable 6:05 - Taxes Will Likely Be Lower in Retirement 9:05 - Term Life Insurance Is Better Than Whole Life Insurance 11:14 - Medicare Will Cover Most Of Your Needs In Retirement 13:27 - The Older We Get, We Should Shift From Stocks To Bonds 17:34 - Mailbag: Andy Asks How Much Of Your Portfolio Is It OK To Have In One Stock

By ignoring the simplest fixes in your financial plan, you could be setting yourself up for a potential disaster. Don't wait until it's too late to make these changes. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:16 - Charles Shares His Picks For March Madness On The Men’s And Women’s Sides 3:04 - The Risk Of Having Out Of Date Legal Documents 5:06 - Not Correcting Beneficiary Designations 7:35 - Avoiding Tax Problems Of The Future 11:00 - Not Having A Plan For Long-Term Care Expenses 14:27 - Getting To Know You: What Is The Luckiest Thing That Has Ever Happened To You?

Let’s step into the classroom again to cover some financial buzzwords. Are these important to know? What are they? How do they impact you? We’ll answer those questions and more as we always look to educate you a little bit on the show. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:16 - Getting To Know: Favorite Restaurant? 3:07 - Main Topic: The Financial Dictionary 3:19 - The Go-Go Years  4:55 - The High-Yield Bond/Junk Bond 7:08 - Index Fund 9:36 - Mailbag: Erin Asks About Financial Advisors Who Works Exclusively With High Net Worth Clients