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 118: Recession Is Coming
10/22/2024
Ep 118: Recession Is Coming
In this episode of the Retire with Peace podcast, Dave Zaegel discusses the inevitability of recessions and the importance of planning for them in retirement. He emphasizes that while recessions are a natural part of the economic cycle, the constant predictions of impending recessions can lead to unnecessary fear and missed opportunities. Zaegel advocates for a proactive approach to financial planning, suggesting that having at least five years of income set aside can provide security and allow retirees to take advantage of market downturns. He encourages listeners to focus on what they can control in their financial planning to ensure a peaceful retirement. Takeaways: Recessions are inevitable, but their timing is unpredictable. Fear of recession can lead to poor financial decisions. Planning for at least five years of income can provide security. Market downturns can present investment opportunities. It's important to control what you can in financial planning. Constant recession predictions can create unnecessary anxiety. Having a diversified investment strategy is crucial. Individual bonds and structured notes can be safer than bond funds. Retirement planning should account for economic uncertainty. A proactive approach to financial planning leads to peace of mind. Important Quotes: "Recession is coming and we have no idea when." "Don't freak out about a possible recession." "Recessions don't have to be scary."
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Ep 117: Elections & Investments
10/15/2024
Ep 117: Elections & Investments
In this episode of the Retire with Peace podcast, host Dave Zaegel discusses the intersection of politics and financial planning, particularly in the context of upcoming elections. He emphasizes that while political events can create anxiety, they do not significantly impact long-term investment strategies. Zaegel encourages listeners to focus on what they can control in their financial planning and to remain calm amidst political uncertainty. He provides historical examples of political promises that were not fully realized, reinforcing the idea that change is often slower than anticipated. Ultimately, the message is to engage in politics but not to let it disrupt personal financial plans. Takeaways: Elections create anxiety, but they don't significantly impact investments. Historical political promises often go unfulfilled. Control what you can control in your financial planning. Don't let political events dictate your financial decisions. Engagement in politics is important, but don't panic. Focus on long-term planning rather than short-term political changes. Good people will work to ensure stability in times of change. Past crises have been weathered successfully, showing resilience. Managing anxiety is key to retiring with peace. Your financial plan should remain steady despite political noise.
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Ep 116: Must Sleep
10/08/2024
Ep 116: Must Sleep
In the Episode, Dave Zaegel discusses the critical importance of sleep for overall health, particularly as individuals age. We discuss how adequate sleep—around 7-9 hours per night—supports metabolism, mood stabilization, and bodily repair, while also facilitating the brain's ability to process information and store memories. The episode emphasizes that sleep plays a key role in emotional regulation, highlighting that consistent sleep patterns are essential, as one cannot easily compensate for sleep deprivation. The engaging discussion underscores the necessity of prioritizing sleep for a healthier life. Takeaways: Sleep is crucial for health, especially as we age Helps with metabolism, mood, and body repair Aids brain in processing daily information and storing memory Regulates emotions and enhances emotional handling Recommended sleep: 7-8 hours per night, possibly 9 for some Consistent sleep is important, can't easily 'catch up' on lost sleep
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Ep 115: Are Supplements Worth It?
10/01/2024
Ep 115: Are Supplements Worth It?
In this episode of the Retire with Peace Podcast, host Dave Zaegel discusses the role of supplements in maintaining health, particularly as it relates to retirement. He emphasizes the importance of a healthy lifestyle, including exercise, nutrition, and sleep, while providing insights into specific supplements like multivitamins and creatine. The conversation aims to clarify the benefits and risks associated with various supplements, encouraging listeners to prioritize foundational health practices before relying on supplements. Takeaways Health is crucial for a quality retirement. Supplements can be beneficial but should be approached with caution. Multivitamins may have limited benefits but are generally safe. Creatine is a well-studied supplement with proven benefits. Focus on exercise, protein, sleep, and hydration first. Consult with a doctor before starting any supplement regimen. Not all supplements are well-studied or necessary. A healthy lifestyle is more important than relying on supplements. Be aware of the marketing around supplements. Understanding what you're taking is essential for safety. Chapters 00:00 The Importance of Health in Retirement 01:28 Navigating the World of Supplements 03:23 Multivitamins: Worth the Hype? 05:23 Creatine: A Proven Supplement 07:18 Final Thoughts on Supplements and Health
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Ep 114: Walking Is Underrated
09/24/2024
Ep 114: Walking Is Underrated
In this episode of the Retire with Peace podcast, host Dave Zaegel discusses the often overlooked benefits of walking as a form of exercise. He emphasizes its accessibility, affordability, and the numerous physical and mental health benefits it provides. From calorie burning to immune system support, walking is presented as a simple yet effective way to enhance overall well-being, especially during the fall season. Zaegel encourages listeners to incorporate walking into their daily routines, highlighting its role in retirement planning and maintaining a healthy lifestyle. Takeaways: Walking is an underrated form of exercise. - It's easy and free, requiring minimal equipment. Walking provides numerous physical and mental health benefits. Burning calories through walking is effective, even if not as much as high-intensity workouts. Walking can help reduce blood sugar and hunger. - Moderate exercise like walking supports the immune system. Walking outdoors in the morning may offer additional benefits. Incorporating walking into other activities enhances overall fitness. Walking is a low-impact exercise suitable for everyone. Regular walking can significantly improve health and well-being. Chapters: 00:00 Introduction to Retirement Planning and Walking Benefits 02:54 The Underrated Power of Walking 05:50 Physical and Mental Health Benefits of Walking
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EP 113 - Replay of Episode 31 with Dr. Julie Smith
09/17/2024
EP 113 - Replay of Episode 31 with Dr. Julie Smith
A happy retirement involves much more than just having enough money. Your good health is a critical component to retiring with confidence. Sometimes, that health is out of our control. But often times, it's is our actions (or inactions) that determine how healthy we are physically and mentally. In this episode, we are joined by Dr. Julie Smith, a physical therapist and health coach, to learn more about her journey and how to stay healthy as we get older. You can find more information about Julie at: Website: Facebook: Dr. Julie FitSmith Podcast: Spotify: https://open.spotify.com/show/7AJzHPvUhMOB... Apple: https://podcasts.apple.com/us/podcast/conv...
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Ep 112: Replay of Episode 32 with Chelsea Theodoropoulos
09/09/2024
Ep 112: Replay of Episode 32 with Chelsea Theodoropoulos
This Episode is a Replay of Episode 32. A happy retirement involves much more than just having enough money. Your good health is a critical component to retiring with confidence. Sometimes, that health is out of our control. But often times, it's is our actions (or inactions) that determine how healthy we are physically and mentally. In this episode, we are joined by Chelsea Theodoropoulos, owner of Burn Bootcamp St. Louis, to learn more about her journey, Burn Bootcamp, and how to stay healthy as we get older. You can find more information about Chelsea at .
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Ep 111: Resistance Training to Retire with Peace
09/04/2024
Ep 111: Resistance Training to Retire with Peace
In this episode, Dave Zaegel discusses the benefits of strength training and resistance training for overall health and retirement. He explains that strength training not only improves muscle function and movement but also has positive effects on bone density, cognitive decline, metabolism, and the immune system. Dave emphasizes that resistance training can be started at any age and with various levels of intensity, and even simple exercises like bodyweight squats and using resistance bands can provide significant benefits. He shares personal experiences of how strength training has helped him stay healthy and recommends incorporating it into a regular fitness routine. Takeaways Strength training improves muscle function, movement, and strength. Resistance training increases bone density and reduces the risk of osteoporosis. Strength training helps reduce cognitive decline and boosts metabolism. Muscles release chemicals that can help fight disease and support the immune system. Even simple exercises like bodyweight squats and using resistance bands can provide significant benefits. Incorporating strength training into a regular fitness routine can contribute to overall health and retirement. Starting slow and gradually increasing intensity is key to long-term success with strength training. Chapters 00:00 Introduction to Strength Training and Retirement 03:25 The Benefits of Resistance Training for Bone Density and Overall Health 06:19 Muscles and Their Impact on Cognitive Decline and the Immune System 09:41 Simple Exercises for Significant Benefits 10:39 Incorporating Strength Training into a Regular Fitness Routine
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Ep 110: Lifestyle Fitness with Lucas Rockwood
08/27/2024
Ep 110: Lifestyle Fitness with Lucas Rockwood
In this episode of Retire with Peace, Lucas Rockwood, founder of YogaBody, discusses the importance of flexibility, mobility, and strength as we age. He shares his personal journey of transitioning from a marketing job to a career in yoga and wellness. Lucas emphasizes the concept of lifestyle fitness, which focuses on being able to do the things you want to do in retirement and living your best life. He recommends consistency in exercise, including a mix of cardiovascular activities, strength training, and stretching. Lucas also highlights the benefits of exercise in improving energy, strength, balance, and overall quality of life. Takeaways Flexibility, mobility, and strength are crucial for a fulfilling and active life as we age. Consistency is key in maintaining fitness and reaping long-term benefits. Exercise should be focused on lifestyle fitness, enabling you to do the things you want to do in retirement. A mix of cardiovascular activities, strength training, and stretching is recommended for overall fitness. Exercise not only improves physical health but also enhances energy, strength, balance, and quality of life.
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Ep 109: Drink Your Water
08/20/2024
Ep 109: Drink Your Water
The conversation covers two main topics: eating protein and drinking water. In the first part, the speaker discusses the importance of consuming enough protein and provides tips on how to incorporate it into a daily diet. He suggests aiming for one gram of protein per day per ideal body weight and recommends lean protein sources such as chicken, fish, and eggs. In the second part, the speaker emphasizes the benefits of staying hydrated by drinking water. He encourages increasing water intake and lists various health benefits associated with proper hydration. Takeaways Aim for one gram of protein per day per ideal body weight Incorporate lean protein sources such as chicken, fish, and eggs into your diet Increase water intake for various health benefits Proper hydration helps with digestion, skin health, blood pressure, and more Chapters 00:00 Introduction and Review of Eating Protein 03:03 Choosing Lean Protein Sources 06:48 The Importance of Staying Hydrated
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Ep 108: Eat Your Protein
08/13/2024
Ep 108: Eat Your Protein
In this episode, Dave Zaegel discusses the importance of being healthy in order to retire with peace. He emphasizes the need to prioritize health alongside wealth and shares his personal journey to getting healthy. The main focus of this episode is on the importance of eating enough protein and how it can contribute to overall health and weight loss. Dave provides tips on calculating protein intake and suggests dividing it into multiple meals throughout the day. He also highlights the benefits of eating enough protein, including improved immune function and overall well-being. Takeaways Being healthy is essential for enjoying retirement. Eating enough protein is crucial for overall health and weight loss. Calculate protein intake based on ideal body weight. Divide protein intake into multiple meals throughout the day. Focus on what goes into your body and keep calories under control. Chapters 00:00 Introduction: Prioritizing Health and Wealth 03:19 The Importance of Eating Enough Protein 08:36 Calculating and Dividing Protein Intake 11:01 The Benefits of Eating Enough Protein 12:28 Conclusion: Focusing on What Goes into Your Body
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Ep 107: Advisor Transitions
08/06/2024
Ep 107: Advisor Transitions
In this episode, Dave Zaegel discusses the trend of financial advisors retiring or transitioning their businesses to someone else, and the challenges that can arise for clients in these situations. He provides advice on how to address issues with a new advisor and emphasizes the importance of communication and setting expectations. Dave also encourages listeners to take action and get organized with their finances before the end of the year. Takeaways When a financial advisor retires or transitions their business, it can lead to challenges for clients. Open communication and setting expectations with a new advisor is crucial to ensure a successful relationship. Changing advisors is easier than many people think, and it's important to find someone who can communicate well and has a process that aligns with your needs. Taking action and getting organized with your finances before the end of the year is essential for effective tax planning and long-term financial success. Quotes "Disturbing trend of advisor retirements and business transitions" "Feeling unheard or not taken care of by new advisors" "Finding an advisor who can communicate well and has the right process"
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Ep 106: Enjoy a (stock) Discount
07/30/2024
Ep 106: Enjoy a (stock) Discount
Summary In this episode, Dave Zaegel discusses the importance of embracing stock market declines and viewing them as opportunities rather than losses. He emphasizes that market declines are temporary and that the market has a long history of going higher. Dave provides strategies for taking advantage of market downturns, such as buying at discounted levels and setting up a buffer of five years' worth of income. He also highlights the benefits of being near retirement and having both a buffer of income and the ability to buy in at lower levels. Overall, Dave encourages listeners to welcome market discounts and not to panic during temporary declines. Takeaways Stock market declines are temporary and the market has a long history of going higher. Market downturns can be opportunities to buy at discounted levels. Setting up a buffer of five years' worth of income can provide peace of mind during market declines. Being near retirement and having both a buffer of income and the ability to buy in at lower levels can be advantageous. Chapters 00:00 Introduction and Sponsor 00:31 Embracing Stock Market Declines as Opportunities 03:25 Setting Up a Buffer of Income 05:22 Advantages of Being Near Retirement 07:14 Conclusion
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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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