Retire With Peace
The Retire With Peace podcast brings you actionable information for your retirement planning. Topics include financial planning, taxes, investments, social security, Medicare, personal health & wellness, and much more. Join Dave Zaegel, CPA, CFP as he covers various financial and lifestyle topics to help you Retire With Peace.
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Ep 105: Supply & Demand of Stocks
07/23/2024
Ep 105: Supply & Demand of Stocks
Summary In this episode, Dave Zaegel discusses the concept of supply and demand in investing. He explains how supply and demand impact stock prices and investment decisions. He highlights three main areas where supply and demand dynamics come into play: alternative investment options, new companies coming public, and stock buybacks. Zaegel emphasizes the importance of understanding these dynamics when making investment choices. Takeaways Supply and demand dynamics have a significant impact on stock prices and investment decisions. Alternative investment options, such as interest rates on bonds and CDs, can influence the demand for stocks. The number of new companies coming public affects the supply of stocks in the market. Stock buybacks can impact stock prices by reducing the supply of shares. Understanding supply and demand dynamics is crucial for making informed investment choices. Chapters 00:00 Introduction and Overview 01:00 The Impact of Supply and Demand on Stock Prices 06:24 New Companies Coming Public and Stock Supply 09:17 Stock Buybacks and Supply Reduction
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Ep 104: Know What the Business Does
07/16/2024
Ep 104: Know What the Business Does
In this episode, Dave Zaegel discusses the importance of understanding what a company does before investing in its stocks. He provides examples of companies like Disney, Apple, and NVIDIA, where the perception of their business may not align with reality. By analyzing financial statements and listening to earnings calls, investors can gain a better understanding of a company's revenue sources and growth drivers. It is crucial to look beyond the surface and recognize the underlying factors that contribute to a company's success. Takeaways Before investing in a company's stocks, it is essential to understand what the company does and how it generates profits. Perceptions of a company's business may not align with reality, and investors need to dig deeper to uncover the true revenue sources and growth drivers. Analyzing financial statements and listening to earnings calls can provide valuable insights into a company's operations and future prospects. Companies like Disney, Apple, and NVIDIA have experienced misconceptions about their businesses, highlighting the importance of thorough evaluation. Chapters 00:00 Introduction and Sponsor 04:20 Misconceptions and Realities: Examples from Apple 08:04 Misconceptions and Realities: Examples from NVIDIA 10:29 Misconceptions and Realities: Examples from Amazon 11:55 Analyzing Financial Statements and Earnings Calls 12:24 Looking Beyond Perceptions: Uncovering Revenue Sources and Growth Drivers
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Ep 103: Cash Flow Statements Matter
07/09/2024
Ep 103: Cash Flow Statements Matter
In this episode, Dave Zaegel discusses important things to understand about investing in individual companies. He emphasizes the need for proper planning before making investments and highlights the importance of understanding management and the company's balance sheet. He then dives into the third financial statement, the cash flow statement, and explains why it matters. He provides examples and insights on how to interpret the cash flow statement and why it is a crucial tool for evaluating a company's financial health. Takeaways Proper planning is essential before making investments in individual companies. Understanding management and the company's balance sheet is crucial when investing. The cash flow statement is a key financial statement that provides insights into a company's financial health. The cash flow statement shows the cash flow from operations, investing activities, and financing activities. Cash flow from operations is a critical metric to evaluate a company's performance. The cash flow statement provides a more accurate picture of a company's financial situation compared to the income statement. Chapters 00:00 Introduction and Sponsorship 01:57 Understanding Management and the Company's Balance Sheet 02:57 The Significance of the Cash Flow Statement 06:18 Analyzing Cash Flow from Operations 08:14 Cash Flow from Investing Activities: Assessing Investments and Expenses 10:11 Cash Flow from Financing Activities: Debt, Equity, and Dividends
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Ep 102: Balance Sheets Matter
07/02/2024
Ep 102: Balance Sheets Matter
In this episode, Dave Zaegel discusses the importance of understanding a company's balance sheet when making investment decisions. He explains the components of a balance sheet and how it can provide insights into a company's financial health and risk. He uses Tesla as an example to illustrate how a company's balance sheet can change over time. Dave emphasizes the need to analyze the balance sheet to assess a company's ability to pay off debts and make informed investment decisions. Takeaways Foundational retirement planning is critical before focusing on investments. The balance sheet provides important information about a company's financial health and risk. Understanding a company's debts and ability to pay them off is crucial for investment decisions. Companies with strong balance sheets are often valued more highly in the market. Chapters 00:00 Introduction and Sponsor 00:29 Importance of Foundational Planning 01:28 Shifting Attention to Investments 06:45 Assessing a Company's Financial Health 08:13 Impact of Balance Sheet on Valuation 10:03 Debt and Stock Price
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Ep 101: Management Matters
06/25/2024
Ep 101: Management Matters
Investments are secondary to overall retirement planning, which includes foundational elements like retirement income guardrails and tax planning. Good investments are important, but they must be tied into the overall plan. Understanding the management of a company is crucial when investing in individual stocks. Listening to earnings conference calls provides valuable information about the company, its management, and its future prospects. Management matters, and investors should take the time to know who is running the company and what they are saying. Takeaways Investments are secondary to overall retirement planning Good investments must be tied into the overall plan Understanding the management of a company is crucial Listening to earnings conference calls provides valuable information Management matters in investment decisions Chapters 00:00 The Importance of Retirement Planning 03:25 The Role of Investments in Retirement Planning 05:19 Understanding the Management of a Company 07:47 The Value of Listening to Earnings Conference Calls 10:12 Why Management Matters in Investment Decisions
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Ep 100: Highlights of Interviews from Previous 99 Episodes
06/18/2024
Ep 100: Highlights of Interviews from Previous 99 Episodes
This episode is a compilation of highlights from the previous 99 episodes. The interviews cover a wide range of topics including charitable giving, health and fitness, retirement planning, accounting for business sale, legacy interviews, fraud prevention, tax credits for donations, long-term care planning, and insurance coverage. The guests provide valuable insights and action items related to each topic. The episode concludes with a thank you to the guests and listeners, and an invitation for feedback. Takeaways Utilize donor advised funds for charitable giving and tax planning. Maintain muscle mass through resistance training for healthy aging. Stay active and prioritize nutrition consistency for overall health. Implement retirement income guardrails for effective retirement planning. Ensure clean accounting when selling a business for a peaceful retirement. Preserve stories and lessons learned through legacy interviews. Promote education and public policy change to prevent fraud. Explore ways to make donations and receive state tax credits. Plan for long-term care costs using AI software. Protect assets through insurance coverage and liability protection. Chapters 00:00 Maximizing Charitable Giving and Tax Planning 03:26 Implementing Retirement Income Guardrails 05:04 Preventing Fraud Through Education and Policy Change 05:30 Donations and State Tax Credits 05:53 Planning for Long-Term Care Costs 06:01 Protecting Assets Through Insurance Coverage
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Ep 99: Principles, Not Perfection
06/11/2024
Ep 99: Principles, Not Perfection
In this episode, Dave Zaegel discusses the importance of following principles in retirement planning rather than striving for perfection. He emphasizes that there is no one-size-fits-all approach and that strategies should be tailored to individual circumstances. Examples include the decision to wait or not wait to take Social Security and the consideration of Roth IRA conversions based on income levels. Dave also highlights the significance of starting early and the flexibility to adapt strategies to fit personal financial plans. Takeaways: Retirement planning should be based on principles rather than striving for perfection. There is no one-size-fits-all approach to retirement planning, and strategies should be tailored to individual circumstances. Considerations such as when to take Social Security and whether to do Roth IRA conversions depend on various factors. Starting early in saving for retirement can provide more flexibility and better long-term results. Adapt strategies to fit your personal financial plan and goals.
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Ep 98: Yes, But ...
06/04/2024
Ep 98: Yes, But ...
In this episode, Dave Zaegel discusses the importance of retirement planning and how to mitigate the impacts of various uncertainties. He emphasizes the need to have a plan in place to handle tax planning and investment structure. Dave introduces the concept of retirement income guardrails or dynamic distribution rates, which allow retirees to withdraw more than the traditional 4% rule. He references a study that shows initial withdrawal rates of 5.2% to 5.6% are sustainable with a 99% confidence level for portfolios containing at least 65% equities. Dave concludes by encouraging listeners to focus on planning for the 99% rather than the 1% outlier scenarios. Takeaways: Have a plan in place to handle tax planning and investment structure in retirement. - Consider using retirement income guardrails or dynamic distribution rates to withdraw more than the traditional 4% rule. A study shows that initial withdrawal rates of 5.2% to 5.6% are sustainable with a 99% confidence level for portfolios containing at least 65% equities. Focus on planning for the 99% rather than the 1% outlier scenarios. Chapters: 00:00 Introduction and Sponsor 01:01 The Yes, Buts of Retirement Planning 07:17 Maximizing Withdrawal Rates with Equities 09:14 The Limitations of the 4% Rule 11:38 Planning for the 99%: Overcoming What-Ifs
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Ep 97: Fight Fewer Battles
05/28/2024
Ep 97: Fight Fewer Battles
Summary In this episode, Dave Zaegel discusses the importance of fighting fewer battles in order to retire with peace. He emphasizes the need to avoid getting caught up in every opinion and event happening in the world, and instead focus on what is truly important and within our control. This concept applies to retirement planning as well, where it is crucial to concentrate on what can be controlled and executed effectively. Dave provides examples of tax planning and investment strategies that can help individuals retire with peace by focusing on what they can control. Takeaways Avoid getting caught up in every opinion and event happening in the world. Focus on what is truly important and within your control. In retirement planning, concentrate on what can be controlled and executed effectively. Consider tax planning and investment strategies to retire with peace. Chapters 00:00 Fighting Fewer Battles for Retirement Peace 04:03 Executing the Retirement Plan 06:54 Setting Income Guardrails 08:19 Focus on What You Can Control
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Ep 96: Get Outside
05/21/2024
Ep 96: Get Outside
In this episode, Dave Zaegel discusses the importance of getting outdoors, and how this affects yoru physical health AND financial retirement.
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Ep 95: Winners Win
05/14/2024
Ep 95: Winners Win
The theme of this episode is that winners win, using examples from sports teams and investments like Apple, Chipotle, Netflix, and Microsoft. The conversation emphasizes the importance of sticking with tried and true strategies and fundamentals, even in the face of temporary setbacks. It discusses the effectiveness of investment structures like individual bonds and 60-40 strategies, and highlights the need to focus on long-term goals and avoid abandoning what works. The key takeaway is to trust in winning strategies, investments, and people, and stay on track with proven methods. Takeaways Winners win in sports teams, investments, and strategies. Stick with tried and true strategies and fundamentals. Don't abandon what works, even in the face of setbacks. Trust in winning strategies, investments, and people. Chapters 00:00 Introduction and Sponsor 03:24 Sticking with Tried and True Strategies
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Ep 94: The Most Valuable Parts of Retirement Planning
05/07/2024
Ep 94: The Most Valuable Parts of Retirement Planning
The most valuable parts of retirement planning are investment structure, tax planning, and providing comfort. Investment structure involves creating a framework for investments that considers how to generate income and maintain growth in retirement. Tax planning focuses on reducing taxes over the long term through strategies like Roth IRA conversions. Providing comfort involves addressing concerns and uncertainties about retirement through comprehensive planning. By focusing on these three aspects, individuals can retire with confidence. Takeaways Investment structure is more important than individual investments in retirement planning. Tax planning can help reduce taxes over the long term. Retirement planning should provide comfort and address concerns. Focusing on investment structure, tax planning, and providing comfort can help individuals retire with confidence. Chapters 00:00 Introduction and Sponsor 05:06 The Importance of Tax Planning 12:03 Conclusion
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Ep 93: It's Not Always About the Calculation
04/30/2024
Ep 93: It's Not Always About the Calculation
In this episode, Dave Zaegel emphasizes that retirement planning is not just about calculations and numbers, but also about implementation and the human element. He provides examples of situations where the recommended course of action may not align with what the client wants or feels comfortable with. Two examples he discusses are Roth IRA conversions and choosing between a lump sum or pension payout. Zaegel highlights the importance of taking action, even if it deviates from the ideal calculation, and adjusting the plan as needed. Takeaways Retirement planning is not solely about calculations and numbers; implementation and the human element are equally important. Recommended courses of action may not always align with what the client wants or feels comfortable with. Taking action, even if it deviates from the ideal calculation, can still lead to positive long-term outcomes. Adjustments to the plan may be necessary to accommodate individual preferences and circumstances. Chapters 00:00 Introduction and Sponsor Announcement 06:03 Taking Action for Positive Long-Term Outcomes 10:13 Emphasizing the Human Element in Retirement Planning
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Ep 92: Stock Market Drops - Big & Small
04/23/2024
Ep 92: Stock Market Drops - Big & Small
In this episode, Dave Zaegel discusses the different types of stock market drops and emphasizes the importance of distinguishing between major economic events and smaller corrections. He highlights that major events like the Great Depression or the dot com crash are infrequent and require significant adjustments, while smaller drops are more frequent and can be seen as opportunities. Dave also explains how smaller drops can be utilized for tax planning, such as Roth IRA conversions. Overall, he encourages listeners to shift their mindset and view stock market drops as chances to improve their long-term financial position. Takeaways Not all stock market drops are the same; it is important to differentiate between major events and smaller corrections. Major economic events like the Great Depression or the dot com crash are infrequent and require significant adjustments. Smaller stock market drops are more frequent and can be seen as opportunities to reset and take advantage of. Utilize smaller drops for tax planning, such as Roth IRA conversions, to benefit from lower stock market prices. Chapters 00:00 Differentiating Stock Market Drops 03:01 Distinguishing Major Economic Events 05:52 Opportunities in Smaller Stock Market Drops 07:19 Taking Advantage of Stock Market Drops for Tax Planning 09:39 Viewing Stock Market Drops as Opportunities
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Ep 91: Monte Carlo at 100 Percent
04/16/2024
Ep 91: Monte Carlo at 100 Percent
In this episode, Dave Zaegel discusses the use of Monte Carlo simulations in retirement planning. He explains that while Monte Carlo simulations are mathematically useful, they may not be practically helpful when it comes to retirement planning. Dave emphasizes that achieving 100% certainty is not necessary or even desirable in retirement planning. He suggests focusing on dynamic adjustments and other strategies to ensure a successful retirement. Takeaways: Monte Carlo simulations are overused and may not be practically helpful in retirement planning. Achieving 100% certainty is not necessary or even desirable in retirement planning. Dynamic adjustments and other strategies can be more useful in ensuring a successful retirement. Focusing on guardrails, structuring investments, tax planning, and social security income can provide actionable items for retirement planning. Chapters: 00:00Introduction and Sponsor 00:55Monte Carlo Simulations 06:10The Goal of 100% Certainty 07:20The Problem with 100% Certainty 09:17Dynamic Adjustments for Retirement Planning 10:40Conclusion
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Ep 90: Advisors Do Different Things
04/09/2024
Ep 90: Advisors Do Different Things
In this episode, Dave Zaegel discusses the importance of finding the right financial planner for your needs. He highlights the fact that different financial advisors have different specialties and areas of expertise. He compares this to the medical field, where doctors have different specialties and refer patients to specialists as needed. Dave emphasizes the importance of understanding your preferences and researching different planners to find the right fit for your retirement planning needs. By finding a planner who aligns with your goals and preferences, you can retire with confidence. Chapters 00:00 Different Financial Advisors Have Different Specialties 01:25 The Comparison to Doctors 03:18 Different Types of Planning Emphasis 04:15 Understanding Your Preferences 05:13 Researching and Identifying Your Needs 06:12 The Value of Specialties in Financial Planning
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Ep 89: Keep the Mortgage
04/02/2024
Ep 89: Keep the Mortgage
In this episode, Dave Zaegel discusses the rush to pay off the mortgage and emphasizes the importance of prioritizing financial planning. He advises against rushing to pay off the mortgage without considering other financial goals, such as saving for retirement and building an emergency fund. Dave also highlights the need to consider the interest rates and tax implications before paying off the mortgage. In retirement, he suggests evaluating the mortgage balance relative to retirement assets and considering the impact on taxes and investment growth. The key takeaway is to pay off debt strategically and not let it overshadow other important financial considerations. Takeaways Don't rush to pay off the mortgage without considering other financial goals. Prioritize saving for retirement and building an emergency fund. Consider the interest rates and tax implications before paying off the mortgage. Evaluate the mortgage balance relative to retirement assets in retirement. Chapters 00:00 Introduction and Opening 00:28 The Rush to Pay Off the Mortgage 03:22 Considerations for Paying Off the Mortgage 05:19 Paying Off the Mortgage in Retirement 07:42 Debt Payoff as a Priority 08:40 Conclusion
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Ep 88: No Need to Play the Lottery
03/26/2024
Ep 88: No Need to Play the Lottery
In this episode, Dave Zaegel discusses the topic of playing the lottery and its implications for retirement planning. He shares an experience he had in a grocery store and highlights two key points to consider when playing the lottery. Dave cautions against viewing the lottery as a solution to retirement problems and emphasizes the importance of understanding the financial implications. He also explores the downsides of winning the lottery and how it can negatively impact one's life. Ultimately, Dave advises listeners to be mindful of the potential consequences before engaging in lottery play. Chapters: 00:00 Introduction and Background 00:58 The Lottery and Retirement Planning 03:24 The Downsides of Winning the Lottery 05:22 More Money Can Make Things Worse
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Ep 87: Importance of Proper Insurance Coverage with Tyler Arnold
03/19/2024
Ep 87: Importance of Proper Insurance Coverage with Tyler Arnold
In this episode, Tyler Arnold of the Arnold Insurance Group joins Dave Zaegel to discuss the importance of protecting assets through insurance coverage. They cover topics such as auto insurance coverage, home insurance coverage, liability coverage, umbrella policies, and water damage coverage. They emphasize the need to review coverage regularly and make adjustments as necessary. Listeners are encouraged to reach out to Tyler Arnold for further assistance. Takeaways: Ensure that auto liability coverage meets or exceeds total assets at risk. Consider increasing liability coverage on home insurance to protect assets and net worth. Add personal injury liability endorsement to home insurance for additional protection. Consider earthquake coverage depending on location and proximity to fault lines. Review policies regularly and make adjustments as needed. Chapters: 00:00 Introduction and Background 00:38 Importance of Protecting Assets 06:45 Home Insurance Coverage 11:39 Liability Coverage on Home 16:10 Umbrella Policies 25:32 Water Damage: Flood, Sewer Backup, and Hurricane 28:06 Reviewing Coverage and Making Adjustments 29:16 Contact Information
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Ep 86: IRA Types and Conversions
03/12/2024
Ep 86: IRA Types and Conversions
In this episode, Dave Zaegel discusses traditional IRAs, Roth IRAs, backdoor Roth IRAs, and Roth IRA conversions. He explains the tax implications of each type of account and highlights the benefits of Roth IRAs, which allow for tax-free withdrawals in retirement. Dave also explains the concept of backdoor Roth IRAs, which provide a way to contribute to a Roth IRA even if your income exceeds the limits. He emphasizes the importance of tracking and reporting these transactions on Form 8606 of your tax return. Takeaways: Traditional IRAs provide a tax deduction for contributions, but withdrawals are taxed in retirement. Roth IRAs do not provide a tax deduction for contributions, but withdrawals are tax-free in retirement. Backdoor Roth IRAs allow high-income earners to contribute to a Roth IRA by first contributing to a traditional IRA and then converting it to a Roth IRA. It is important to track and report all IRA transactions, including backdoor Roth IRAs and Roth IRA conversions, on Form 8606 of your tax return. Chapters: 00:00 Introduction and Sponsorship 00:57 Overview of Traditional IRAs and Roth IRAs 04:51 Benefits of Roth IRAs 05:51 Backdoor Roth IRAs 08:09 Tracking and Reporting for Backdoor Roth IRAs 09:07 Roth IRA Conversions 11:01 Conclusion and Importance of Tracking
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Ep 85: Life Insurance for Estate Planning
03/05/2024
Ep 85: Life Insurance for Estate Planning
In this episode, Dave Zaegel discusses the use of life insurance for estate planning. He explains how life insurance can help avoid estate taxes and the importance of planning for potential changes in tax laws. Dave also introduces the concept of an irrevocable life insurance trust (ILIT) and how it can be used to protect assets and provide tax benefits. Additionally, he touches on special needs planning and how life insurance can be beneficial in that context. Takeaways: Life insurance can be used to avoid estate taxes and protect assets for beneficiaries. An irrevocable life insurance trust (ILIT) is a common tool used in estate planning to minimize taxes. ILITs provide legal protection for beneficiaries and can be beneficial in special needs planning. Proper planning and understanding of tax laws are crucial when using life insurance for estate planning. Chapters: 00:00 Introduction and Sponsorship 00:59 Using Life Insurance for Estate Planning 03:24 Irrevocable Life Insurance Trust (ILIT) 07:15 Legal Protection and Benefits of ILIT 08:35 Special Needs Planning
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Ep 84: Life Insurance Planning for Retirement
02/27/2024
Ep 84: Life Insurance Planning for Retirement
In this episode, Dave Zaegel discusses the use of life insurance in retirement planning, specifically in relation to pension payouts. He explains the reasons why someone might want to keep a life insurance policy in retirement, such as health issues or the desire to leave a financial legacy. Dave then explores how life insurance can be used to enhance pension payouts, providing an example to illustrate the concept. He emphasizes the importance of evaluating different payout options and considering one's health when considering life insurance in retirement planning. Takeaways Life insurance can still be beneficial in retirement, even if there is no income to protect. Health issues can be a reason to keep a life insurance policy in retirement. Life insurance can be used to enhance pension payouts by using the difference in payout amounts to purchase a policy. Evaluating different payout options and considering one's health is crucial when considering life insurance in retirement planning. Chapters 00:00 Introduction and Sponsor 00:29 Recap of Previous Episode 01:28 Life Insurance for Retirement 02:25 Reasons to Keep Life Insurance in Retirement 03:54 Using Life Insurance with Pension Payouts 06:23 Example of Using Life Insurance with Pension Payouts 09:29 Evaluating Life Insurance with Pension Payouts 10:27 Maximizing Payouts with Life Insurance
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Ep 83: Life Insurance Planning - Types of Plans
02/20/2024
Ep 83: Life Insurance Planning - Types of Plans
In this episode, Dave discusses the importance of life insurance in retirement planning. He explains that while life insurance is commonly associated with younger individuals, there are situations where it can be beneficial for retirees. He then provides an overview of different types of life insurance policies, including term insurance, whole life insurance, and universal life insurance. He emphasizes the need to keep life insurance planning simple and evaluate options based on individual needs and goals. Takeaways Life insurance can play a role in retirement planning by providing a death benefit to replace lost income if the policyholder passes away. The need for life insurance in retirement depends on factors such as the amount of income that needs to be protected and the financial situation of the policyholder's dependents. Term insurance is a temporary life insurance policy that provides coverage for a set period of time, while whole life insurance is a permanent policy that builds cash value over time. Universal life insurance is a hybrid policy that combines elements of term and whole life insurance, but it can be complex and should be evaluated carefully. Chapters: 00:00 Introduction and Sponsor 00:31 Importance of Life Insurance in Retirement Planning 03:26 Determining the Need for Life Insurance in Retirement 04:40 Scenarios Where Life Insurance May Not Be Needed in Retirement 05:09 Scenarios Where Life Insurance is Needed in Retirement 05:39 Overview of Different Types of Life Insurance Policies 06:09 Term Insurance 09:02 Whole Life Insurance 13:51 Universal Life Insurance 18:40 Simplifying Life Insurance Options
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Ep 82: Risk Tolerance Questionnaires are (Mostly) Garbage
02/13/2024
Ep 82: Risk Tolerance Questionnaires are (Mostly) Garbage
In this episode, Dave Zaegel discusses the limitations and problems with risk tolerance questionnaires commonly used in retirement planning. He emphasizes the importance of individualized retirement planning and the need for a comprehensive plan that aligns with the client's goals and needs. Risk tolerance questionnaires should only be used as a supplement to the plan, providing small adjustments based on the client's comfort level. Dave cautions against relying solely on these questionnaires and highlights the role of proper investment structure in supporting the plan. Takeaways: Risk tolerance questionnaires are commonly used in retirement planning but have limitations and may not accurately reflect an individual's true risk tolerance. Individualized retirement planning is crucial to ensure the plan aligns with the client's goals and needs. Risk tolerance questionnaires should be used as a supplement to the plan, providing small adjustments based on the client's comfort level. The plan should drive the investment strategy, and risk tolerance questionnaires should not be the sole determinant of investment decisions. Chapters: 00:00 Introduction and Sponsor Announcement 00:56 Closing Window for New Clients 01:24 The Problem with Risk Tolerance Questionnaires 03:18 Inaccuracies of Risk Tolerance Questionnaires 04:46 The Importance of Individualized Retirement Planning 06:12 Making Minor Adjustments to the Plan 07:42 The Role of Risk Tolerance Questionnaires 09:09 Conclusion and Final Thoughts
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Ep 81: Don't Get Hurt (Too Badly)
02/06/2024
Ep 81: Don't Get Hurt (Too Badly)
In this episode, Dave Zaegel discusses the importance of not getting hurt in retirement, both in terms of health and finance. The primary focus is on injury prevention and maintaining physical well-being as we age. Additionally, Dave explores the need for growth and investment strategy in retirement planning, while also emphasizing the importance of avoiding major financial setbacks. He highlights the significance of creating a safety net and balancing risk with long-term growth. Takeaways: Prioritize injury prevention and maintaining physical well-being in retirement. Invest in growth and develop a solid investment strategy for long-term financial success. Create a safety net by setting up income for at least five years to withstand market fluctuations. Balance risk and growth to ensure a secure and prosperous retirement. Chapters 00:00 - Introduction: Don't Get Hurt 01:27 - Health: Injury Prevention 03:22 - Finance: Investment Strategy 06:44 - Balancing Risk and Growth 07:14 - Creating a Safety Net 07:44 - Conclusion: Focus on Safety and Goals
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Ep 80: The 4% Rule - Suze Orman Article Review
01/30/2024
Ep 80: The 4% Rule - Suze Orman Article Review
In this episode, Dave Zaegel discusses an article that criticizes the 4% Retirement Rule. The article claims that withdrawing 3% is safer and suggests working until age 70 or longer. Dave disagrees with this viewpoint and explains that withdrawal rates can be higher depending on individual circumstances. He emphasizes the importance of structuring finances properly, setting up income buckets, and reducing taxes through tax planning. Dave encourages retirees to enjoy their money while they are still able to do so comfortably. Ultimately, he advises seeking professional advice to determine an appropriate withdrawal rate based on personal situations. Read the article from Suze: 3 Important Points: Conduct research on retirement income guardrails and retirement income withdrawal rules. Listen to episode 40 of the podcast featuring Matthew Jarvis to learn more about retirement income guardrails. Reach out to a financial advisor, either the podcast's firm or another, to get personalized advice on withdrawal rates and retirement planning.
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Ep 79: Best Way to Handle QCDs
01/23/2024
Ep 79: Best Way to Handle QCDs
In this episode, Dave Zaegel discusses Qualified Charitable Distributions (QCDs), explaining how they work and why it's beneficial to make them directly from a traditional IRA to the charity. He advises setting up a separate IRA account specifically for charitable distributions and explains how this can simplify the process and ensure proper reporting on tax returns. Dave concludes by reminding listeners that the podcast provides general information and should not be considered personalized advice.
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Ep 78: Do Hard Things In Retirement
01/16/2024
Ep 78: Do Hard Things In Retirement
In this episode, Dave Zaegel discusses the importance of doing hard things in retirement to prepare both mentally and physically. He shares his experience completing a challenging 75-day program and explains how it rewires the brain in a positive way. Dave encourages listeners to step outside their comfort zone, try something challenging, and continue doing so throughout retirement. *This episode is sponsored by * Takeaways Do hard things in retirement to have a long-term impact on their retirement. Step outside of your comfort zone and engage in activities that are challenging for you. Try doing something challenging for a month and see the positive effects. Book your call today:
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Ep 77: Take Action for 2024
01/09/2024
Ep 77: Take Action for 2024
In this episode, Dave Zaegel emphasizes the importance of taking action in 2024. He discusses how financial planning often involves motivating clients to take necessary steps, such as estate planning and tax projections. He specifically highlights the importance of taking action in retirement planning and announces an opening for new clients. *This episode is sponsored by * Takeaways Taking action is crucial in financial planning and can lead to positive outcomes. New Year's resolutions can be a great opportunity to take action and improve one's life. Taking action in retirement planning is essential for a secure future. CWOs for Hire is currently accepting new clients for a limited time Chapters 02:18 Taking Action for Retirement 03:58 Opening for New Clients 05:00 Take Action on Retirement Planning
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Ep 76: The World Is Not Ending
01/02/2024
Ep 76: The World Is Not Ending
In this episode, Dave Zaegel discusses the importance of maintaining a positive outlook and focusing on the good things in life, especially when it comes to planning and investing. He highlights the tendency to focus on negativity and fear, particularly in relation to the stock market. Dave emphasizes the need to recognize that things often go right more often than they go wrong. He encourages listeners to stay positive, plan for potential risks, and take advantage of buying opportunities in the stock market. Ultimately, he reminds us that the world is not ending and that a long-term perspective is crucial. This episode is sponsored by . Takeaways: Maintain a positive outlook and focus on the good things in life. Recognize that things often go right more often than they go wrong. Plan for potential risks and take advantage of buying opportunities in the stock market. Maintain a long-term perspective and stay constructive in planning and investing. Chapters: 01:14 Negativity and Positivity in the Stock Market 02:45 The Challenge of Focusing on What Could Go Wrong 03:42 Recognizing the Good Things in Life 06:30 Long-Term Perspective and Mitigating Risks
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