Mailbag: How Should I Prioritize Newfound Wealth?
Retirement Coach's Corner
Are you ready to take control of your financial future? In today’s podcast, Alan and Troy dive into listener questions about retirement planning, like what to do about your old 401(k) or how to handle a sudden influx of money. While each of these are “good” problems to have, you still want to be strategic about your next steps. Alan and Troy stress the importance of having a comprehensive financial plan tailored to your unique situation. Whether you're five to ten years away from retirement or just starting to think about your financial future, sitting down with a qualified professional...
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Adding Social Security to Your Retirement Income Plan
Retirement Coach's Corner
In retirement, your income source is different than it was during your working years. With inflation and market fluctuations to consider, how can you build an income plan that is strong and stable? Alan and Troy share what a comprehensive retirement income plan looks like and what kind of accounts you want to draw from first. Then, they talk through strategies around Roth conversions. Is it right for you? While there are limits to how much you can contribute to a Roth IRA each year, does that rule apply for Roth conversions? What kind of impact could it have on your taxes or Medicare? Bottom...
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Financial Half-Truths
Retirement Coach's Corner
It’s easy to be taken in by half-truths in the financial world without understanding the whole truth. Troy breaks down some of these commonly held beliefs to provide clarity and advice for your financial future. He dives into misconceptions about market losses, portfolio fees, mortgage interest rates, and diversification strategies. Through real-life examples and expert analysis, you’ll learn valuable insights to help you navigate your retirement planning with confidence. One of the most memorable takeaways from the episode is the analogy used to describe diversification: "You don't want...
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Financial Wisdom with Yogi Berra
Retirement Coach's Corner
Yogi Berra, hall of fame baseball player and legendary catcher for the New York Yankees, was known not only for his athletic abilities but also for his witty and often paradoxical sayings. These quotes provide a unique lens through which we can view and understand the complexities of financial planning. One of the standout quotes discussed in the episode is, "I never said most of the things I said." This quote reminds us to be cautious about the promises and information we receive, especially when it comes to financial products and services. Alan and Troy emphasize the importance of working...
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All About Insurance
Retirement Coach's Corner
Understanding your insurance options is a critical component of a successful retirement plan. From health insurance to long-term care, life insurance, and even travel and umbrella policies, today’s podcast is packed with valuable insights from Alan and Troy to help you navigate these decisions with confidence. Be sure to take the time to explore your options and incorporate them into your retirement strategy with the help of a trusted financial professional. Do you have the right insurance in place to meet your needs should you face a worst-case scenario? Having this helpful financial tool...
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Mistakes When Choosing A Financial Advisor
Retirement Coach's Corner
When it comes to retirement, having the right advisor can make all the difference. But with so many financial advisors out there, how do you choose the right one? In today’s episode, we’ll highlight the key areas to consider, whether you’re evaluating your current advisor or starting the search for one. Listen in as Alan and Troy uncover some of the critical mistakes many make when choosing a financial advisor. They’ll cut through the noise to highlight what often goes wrong- from misplaced trust in big names to overlooking an advisor’s fiduciary status. This conversation is your...
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The Kentucky Derby and Retirement Planning
Retirement Coach's Corner
When you live in Louisville, you know all about Derby Day! But do you know how it relates to your retirement planning? On today’s show, Troy and Alan discuss what you can learn from the rigorous training required for the main event to understanding the best investments needed to win the race. Learn how a well-bred plan, a dedicated support team, and the right amount of risk can set you up for a victorious retirement run. Here’s some of what we discuss in this episode: Just like horse racing, you have to train and prepare for your retirement. Understand the investment needed...
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Expectation vs. Reality
Retirement Coach's Corner
Some things aren’t as good as they seem. And other things might just surprise you! We talk today about some areas financially where expectations and reality don’t always align. Have you thought through what your retirement will actually look like? It’s easy to imagine relaxing on a beach, but is that the reality for you? Is that what you want? How have you prepared to have the retirement lifestyle you want? Your retirement plan involves a lot of things, including room for change! It’s not something to set and forget. Instead of being too proud to ask for help, reach out to a financial...
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Financial Good Habits and Bad Habits
Retirement Coach's Corner
Everyone has their own habits and routines when it comes to handling their finances and investing. For instance, having a good budget and being disciplined can help you achieve the financial goals you have for the future. You also want to think about what life experiences you want to have, now and in the future. It seems wise to stay informed and pay attention to what you are investing in. But which of these habits may seem helpful but can actually cause problems? So many of these financial habits are all about having the right balance and an understanding of your financial plan. Working with...
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Will These Apocalyptic Predictions Ever Come True?
Retirement Coach's Corner
We’ve all heard the apocalyptic predictions about Social Security, the national debt, and other major issues that are supposed to sink the economy. Do any of these predictions have merit in the years ahead? In this episode, we’ll try to separate sensationalism from reality. In a world constantly buzzing with economic uncertainties and sensational headlines, Alan and Troy step in as your reliable guides to navigate the noise. Join us as we cut through sensationalism to uncover the truth behind these predictions and ensure your financial playbook is ready for whatever the future may bring....
info_outlineWondering what to do about the market right now? Troy and Alan coach three different people through their investment decisions. From when to become more conservative in your investments to using a Roth 401(k) option to retiring early, you’ll want to hear what they have to say on today’s show. How would Troy and Alan build a plan around these people and their unique situations?
Here are the questions we answer from the mailbag:
- At what age do I need to become a conservative investor? (1:13)
- Should I use the Roth 401(k) option at work? (5:40)
- Can I retire now? (9:52)
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