How Bobby Bonilla Day Can Help You Decide Whether to Take a Pension or a Lump Sum, Ep #220
Financial Symmetry: Balancing Today with Retirement
Release Date: 07/15/2024
Your Market Volatility Survival Playbook, Ep #238
Financial Symmetry: Balancing Today with Retirement
Market volatility is never comfortable, but with the right mindset and a thoughtful plan, you can face downturns not as a victim, but as an opportunist. On this episode of the Financial Symmetry Show, we’re sharing our advice on managing your finances amid turbulent markets and giving you a helpful checklist to guide your decision-making when headlines make your stomach flip. Outline of This Episode [0:00] We discuss the importance of planning, reviewing its steps, and controlling expectations during unforeseen events. [4:29] Evaluate income, expenses, job security, income sources, and...
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5 Ways to Transform Tax Season into an Opportunity with Grayson Blazek, Ep #237
Financial Symmetry: Balancing Today with Retirement
Tax planning might not top everyone's list of leisure activities, but in the middle of tax season there’s a hidden opportunity. What if, instead of seeing it as a mere logistic hurdle, we embraced it as a moment to refine our financial strategy? *********** 📰 See the 🌐 to assure you are positioned to experience your ideal retirement.
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How Longevity Could Impact Your Retirement, Ep #236
Financial Symmetry: Balancing Today with Retirement
What if your retirement lasts much longer than you anticipated? Increasing life expectancies have reshaped our understanding of retirement and financial planning in recent years, and we’ll likely become more concerned about effectively managing financial resources throughout a potentially very long life in the future. In this episode, we’re sharing some insights gleaned from a recent industry conference focused on the impacts of longevity on retirement planning. There's a growing need to rethink how long you'll need your savings to last and how you approach your investment strategies...
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10 Myths That Exist Around Women's Wealth, Ep #235
Financial Symmetry: Balancing Today with Retirement
We're spotlighting women's wealth in honor of International Women's Day and Women's History Month. Join us as we dig into some of the stats surrounding women's financial empowerment. From the rising number of women controlling wealth as they outlive their spouses to tackling stereotypes that hinder women's earning potential, this episode addresses the systemic barriers that impact women's financial journeys. *********** 📰 See the 🌐 to assure you are positioned to experience your ideal retirement.
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Navigating Your Options as an Eligible Designated Beneficiary, Ep #234
Financial Symmetry: Balancing Today with Retirement
Four categories are recognized under current regulations to qualify as an Eligible Designated Beneficiary (EDB). These include the surviving spouse, minor children of the decedent, a disabled or chronically ill individual as assessed at the time of the decedent's passing, and other individuals who are no more than ten years younger than the deceased account owner. If you fall into one of these categories, you'll be afforded more time and flexibility than Non-Eligible Designated Beneficiaries. This is due to recent regulatory changes, underscored by The Secure Act, altering the landscape of...
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Fighting FOMO in Your Portfolio, Ep #233
Financial Symmetry: Balancing Today with Retirement
Investing can often feel like riding a rollercoaster of exciting highs and daunting lows. This week, we’re digging into the intricacies of the financial planning process, focusing particularly on the importance of understanding market trends and the role diversification plays in safeguarding your wealth. Outline of This Episode (03:08) Investing with diversification mitigates risk; US stocks average 10% annual returns over the long term but vary yearly. (08:39) US and China stock market gains were largely driven by speculative buying, with US stocks being pricier than international and...
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The Retirement Complacency Trap, Ep #232
Financial Symmetry: Balancing Today with Retirement
Retirement, often portrayed as a glorious era of freedom and relaxation, has its own set of challenges beyond the financial arena. This week, we’re exploring the psychology behind retirement and discussing the four phases retirees go through. Vacation/Honeymoon Phase: The initial euphoria of not having to set an alarm. Loss Phase: Often associated with disenchantment as the honeymoon phase wears off. Trial and Error Phase: Trying out various activities to find what gives life meaning. Reinvent and Rewire Phase: Adding a new sense of purpose and joy from activities outside oneself. ...
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How to Avoid Common Mistakes When Gifting Money to Family, Ep #231
Financial Symmetry: Balancing Today with Retirement
As the holiday season approaches, many of us find ourselves thinking about gifts. While gifts can come in many forms, monetary gifts often cause the most confusion. In this episode of Financial Symmetry, hosts Chad Smith and Grayson Blaszak discuss the intricacies of financial gifting. Financial gifting generally involves transferring assets, such as cash or securities, from one individual to another without expecting anything in return. This process can have several benefits, including seeing your loved ones enjoy the fruits of your generosity during your lifetime. *********** 📬...
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Retirement Roadblocks You May Encounter, Ep #230
Financial Symmetry: Balancing Today with Retirement
Have you ever been in the middle of a road trip, and you come upon a roadblock where unexpected traffic adds a half hour or more to your journey? Similar frustrating circumstances pop up in the years just before and just after retirement. During this new life transition, you are forced to confront retirement roadblocks, and if you don’t know how to maneuver around them, it can leave you feeling stuck. In this episode, we discuss 3 retirement roadblocks you may encounter along your retirement journey. Think of these tips as your GPS to make it easier to navigate around the...
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The Early Retiree’s Guide to Health Insurance with Grayson Blazek, Ep #229
Financial Symmetry: Balancing Today with Retirement
Early retirement has unique financial planning challenges, particularly regarding health insurance and tax strategies. For people who retire before age 65, the challenge of finding affordable and adequate health insurance adds another layer of complexity to their financial plans. *********** 📬 Download your Free . 📰 See the 🌐 to get one email every week on all things retirement *********** Outline of This Episode [04:32] Considering Roth conversion for potential tax benefits [09:07] Rules around qualifying for ACA in 2025 [12:36] Early retirement may...
info_outlineOne of the retirement questions that persists through the ages is whether to take a pension or a lump sum payment. On this episode, we flesh out an example from baseball: Did Bobby Bonilla Day make the right decision back in 1999 to take $1.2 million per year instead of a $5.9 million lump sum payment?
Seeing this example play out over time can help you make your own pension vs. lump sum choice. Listen to find out whether Bobby hit a home run with his financial decision.
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