Financial Symmetry: Balancing Today with Retirement
When considering retirement, do you wonder what financial opportunities you may be missing? Busy lives take over and years pass without taking advantage. In this retirement podcast, the Financial Symmetry advisors unveil financial opportunities, to help you balance enjoying today so you are ready to retire later. By day, they are fiduciary fee-only financial advisors who answer questions about tax savings, investment decisions, and how to save more. If you’ve been putting off your financial to-do list or are just not sure what you’ve been missing, subscribe to the show and learn more at www.financialsymmetry.com. Financial Symmetry is a Raleigh Financial Advisor. Proudly serving clients in the Triangle of North Carolina for over 20 years.
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How to Prepare for the Retirement Danger Zone, Ep #214
04/23/2024
How to Prepare for the Retirement Danger Zone, Ep #214
If you are retiring soon, you've most likely wondered if your asset allocation is too risky. Some have called the period just before and after retirement the Retirement danger zone as it's a time where understanding how you should be invested matters for your long-term financial success. After years of great returns in tech and large cap US stocks, many retirees could have bigger risks present in their allocations than they realize. In today's episode, you'll learn why sequence of return risk has been called the retirement danger zone and how to prepare for it within the context of your retirement plan rather than by planning by generalized rules of thumb. Resources & People Mentioned
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Be Ready For These 10 Tax Surprises, Ep #213
04/08/2024
Be Ready For These 10 Tax Surprises, Ep #213
So many of us will be hoping for no tax surprises when preparing our tax returns this year. This is why we want to provide you with a list of common tax surprises to watch for. After working with hundreds of clients to prepare their tax returns, we’re sharing the latest tax surprises we see that could be helpful to know when completing your tax return this year. Outline of This Episode [0:42] The Slott Report [2:39] Inheritance surprises [6:51] Credit card rewards [8:10] Interest income increases [10:54] Income earned in different states [12:32] 1099Ks [14:14] Underwithholding from your W4 [15:56] Forgotten statements [17:32] Double taxation on the Backdoor Roth [19:49] Underpayment penalty [21:14] The K1 for small business owners **** 📬 Get our . 📰 See the 🌐 Explore the
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How to Handle a Forced Early Retirement, Ep #212
03/26/2024
How to Handle a Forced Early Retirement, Ep #212
Retirement can hit us with numerous curveballs. One of those could happen right out of the gate–being forced with an early retirement. We all know that layoffs are part of the corporate landscape. While they are commonplace, when you are faced with one later in your career it can cause you to reevaluate your financial situation. In this episode, we discuss your options if you are laid off and how they fit in with your financial plan, your tax plan, and your 401K. **** 📬 Get our . 📰 See the 🌐 Explore the
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Tools for Making Better Financial Decisions, Ep #211
03/12/2024
Tools for Making Better Financial Decisions, Ep #211
While most of our listeners are in or on the cusp of retirement, many have loved ones who are earlier in their careers. Often we get questions on how our listeners and clients can help their younger family members make better financial decisions. As we celebrate International Women's Day with this episode, you’ll meet our newest CFP, Niamh Douglas. Niamh and Allison discuss some tools and strategies to help young people who are just starting out get off on the right financial foot. Resources & People Mentioned Episode 189 - BOOK - by Nick Murray BOOK - by Laura Redfern
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Turn Your ‘What Ifs’ into 'What's Next' with Retirement Stepping Stones, Ep #210
02/26/2024
Turn Your ‘What Ifs’ into 'What's Next' with Retirement Stepping Stones, Ep #210
Many who approach retirement view it as the ultimate goal, but you could have 30+ years to experience the retirement you've worked to build. While much of retirement planning is focused on the numbers, people often fail to intentionally plan out how they'll spend their time. In this episode, we explore some common retirement pitfalls and then ten stepping stones to help us overcome challenges you might encounter. **** 📬 Sign up for the and receive our Pre-Retirement Checklist. 🎯 Article - 📰 See the 🌐 Explore the
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5 Reasons to Consider Investing in More Than the S&P 500, Ep #209
02/12/2024
5 Reasons to Consider Investing in More Than the S&P 500, Ep #209
Many investors have been tempted to invest more, if not all, of their portfolios in the S&P 500 given the incredible run it’s had over the last decade. But today we are talking through five reasons why you should consider not making a concentrated investment only in the S&P 500. Don't let recency bias rule your decision-making on the road to your ideal retirement. **** 📬 Sign up for the and receive our Pre-Retirement Checklist. 🎯 Article - 📰 See the 🌐 Explore the
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The Challenges with Divorce in Retirement with Lesli Doares, Ep #208
01/29/2024
The Challenges with Divorce in Retirement with Lesli Doares, Ep #208
One of the biggest financial disasters that people can experience in retirement is divorce. On this episode of Financial Symmetry, Grace Kvantas chats with licensed marriage and family therapist, Lesli Doares. Lesli shares warning signs to look out for, misconceptions about keeping finances separate, and why couples should seek marriage counseling in retirement. Your marriage affects every aspect of your life. Listen in to learn how you can improve it. **** 📬 Sign up for the and receive our Pre-Retirement Checklist. 🎯 Article - by David Booth 📰 See the 🌐 Explore the
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Should I Roll My IRA into My 401K to Do a Backdoor Roth? Ep #207
01/15/2024
Should I Roll My IRA into My 401K to Do a Backdoor Roth? Ep #207
If you have rollover IRA accounts and want to make a backdoor Roth IRA contribution, this episode is for you. There are several steps involved to handle this strategy in the right way including understanding how you roll the IRA accounts to your 401k. Today we walk through five considerations you should think through before you implement a strategy to complete your Backdoor Roth contributions. **** 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the 🌐 Explore the
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15 Surprising Financial Facts to Round Out 2023, Ep #206
12/26/2023
15 Surprising Financial Facts to Round Out 2023, Ep #206
In our usual episodes, we aim to arm you with a particular insight or strategy that can help you inch closer to your ideal retirement. But, with todays show, we want to close the year by providing a list of 15 surprising financial facts about the year that you could share in a conversation with a friend or family member. We also pay tribute to the great investor Charlie Munger, by providing a few of our favorite Mungerisms. As you begin your 2024, we thank you all for listening and sharing our show. We look forward to continuing to provide you with helpful steps on your journey to reach an ideal retirement **** 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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Planning for Health Insurance in Retirement Pre-Medicare, Ep #205
12/11/2023
Planning for Health Insurance in Retirement Pre-Medicare, Ep #205
If you are planning on retiring before age 65, there is no doubt that you have had this question. What do you do about health insurance? In the United States, the health insurance landscape is ever-changing and takes quite a bit of planning. Many people even feel anchored to their jobs because of the prohibitive costs of health insurance. However, there are options for healthcare before age 65. Listen in to discover what your options are and what you should be doing to plan for this complicated aspect of early retirement. Outline of This Episode [2:44] COBRA [8:04] Using your spouse’s plan [10:58] The healthcare exchange [17:57] On choosing more than one option Resources & People Mentioned Episode 204 -
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Tax Planning Tips You May be Ignoring, Ep #204
11/27/2023
Tax Planning Tips You May be Ignoring, Ep #204
Taking advantage of tax planning opportunities before year-end may benefit you this year while also lowering your lifetime tax rate. Paying more taxes now to lower your lifetime tax rate may seem unconventional, but if you are serious about building wealth, this episode may include a strategy for you. Listen in to hear ten tax strategies you could use on the path to your ideal retirement. **** 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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8 Typical Stock Option Mistakes to Avoid, Ep #203
11/13/2023
8 Typical Stock Option Mistakes to Avoid, Ep #203
On the journey to reach your ideal retirement, stock options can be a valuable tool to have in your arsenal. However, it’s easy to make mistakes given most people don’t have a class in high school that provides pointers on how to handle when they vest. There are many things to consider with stock options: the different types, timing deadlines, tax consequences, and the leverage involved. Since it is such a complex topic, they’re often put on the back burner and can easily be forgotten about causing you to miss out on a valuable opportunity to increase your wealth. If you have been offered stock options with your company, you’ll want to hear these 8 common mistakes to avoid when managing your stock options. ***** 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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Retirement Plan Horror Stories, Ep #202
10/30/2023
Retirement Plan Horror Stories, Ep #202
There’s so much we can overlook with retirement plans. Here at Financial Symmetry, we are constantly finding ways to help you be aware of retirement opportunities and rules and improve your wealth. On this special Halloween-themed episode of Financial Symmetry, Allison has come up with some retirement plan horror stories to spook you. Listen in to ensure that these horrors don’t ruin your retirement plans. ***** 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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Could You Use Net Unrealized Appreciation? Ep #201
10/16/2023
Could You Use Net Unrealized Appreciation? Ep #201
If you are a long-time listener you know that we like to go through the nuances of financial planning that may be valuable to you. In this episode, Allison and I take a look at net unrealized appreciation (NUA). Listen in to learn what it is, who could benefit from it, and the benefits and pitfalls of using NUA. You won’t want to miss out on hearing one of our classic fictional case studies involving Freddie Krueger. Press play to hear if you could benefit from using NUA. Outline of This Episode [1:20] What is net unrealized appreciation? [3:45] A case study [8:40] The four triggering events [11:15] Benefits of NUA [15:44] The drawbacks ***** 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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Should You Roll Over Your Retirement Account to an IRA? Ep #200
10/02/2023
Should You Roll Over Your Retirement Account to an IRA? Ep #200
When it comes to the question of rolling over a 401K or 403B to an IRA, many people fear making mistakes. It’s true, that retirement account mistakes can be costly. On this episode, we’ll explore the options you have, the factors to consider, and the reasons you should and the reasons you shouldn’t roll over your employer-sponsored retirement account. Outline of This Episode [3:15] The 6 options you have when you separate service [8:01] Factors to consider [13:54] Reasons to roll over [20:45] Reasons not to roll over ***** 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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The Benefits of a Wealth Management Relationship - Part 2, Ep #199
09/18/2023
The Benefits of a Wealth Management Relationship - Part 2, Ep #199
Investing is simple but not easy. To that end, what are the impacts if you do a poor job managing your investments? Several studies from Vanguard and Morningstar have attempted to quantify how behavioral coaching can impact your savings. The numbers settle around 1.5-2%/yr. That may not sound like much, but could equate to millions of difference over 30+ years of savings. On this episode, we continue to explore the benefits of the wealth management relationship. If you haven’t listened to the first part you can find it . Resources & People Mentioned Episode 198 - Episode 177 - Episode 164 - Episode 118 - Episode 165 - Episode 176 - Episode 194 - ***** 🎥 See 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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How Could You Benefit from a Wealth Management Relationship? Part 1, Ep #198
09/05/2023
How Could You Benefit from a Wealth Management Relationship? Part 1, Ep #198
Many people who reach out to a financial advisor simply seek help creating a financial plan. A financial plan can get you on the right path to financial freedom. However, there are limitations to creating a one-time financial plan. In this episode, a few of our wealth advisors discuss how wealth management works from the tax planning, retirement planning and risk planning perspectives. ***** 🎥 See 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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6 Critical Questions to Ask When You Inherit an IRA, Ep #197
08/21/2023
6 Critical Questions to Ask When You Inherit an IRA, Ep #197
So, you inherited an IRA–now what? The rules surrounding inherited IRAs are more complicated than you think, so if you have already inherited an IRA or expect to in the near future, we are breaking down how you should think about making withdrawals. In this episode, you’ll learn the three types of beneficiaries and the six questions you need to ask yourself when you inherit an IRA. ***** 🎥 See 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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Are You Making These IRA Beneficiary Mistakes? Ep #196
08/07/2023
Are You Making These IRA Beneficiary Mistakes? Ep #196
If you're a Modern Family fan, you should enjoy today's episode. Today, we're diving in the mistakes made when we make assumptions about our IRA beneficiary forms. Many people don’t realize this but their IRA has the opportunity to be the star player of their estate plan. In this episode, we walk through real world examples, to help you take steps now to avoid similar pitfalls in your own lives. ***** 🎥 See 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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Anchoring to an Arbitrary Dollar Amount
07/24/2023
Anchoring to an Arbitrary Dollar Amount
The behavioral and emotional side of financial planning takes precedence when planning for our future. I see this play out frequently in the form of anchoring to a perceived value we’ve grown accustomed to, based on prior experience. This “value”; however, can unfortunately lead to decisions that damage the success of our financial plan. Outline of This Episode [1:40] Anchoring to a dollar amount is what we’re used to [5:56] Are you stuck on your stock prices? [10:25] Your retirement number needs to have a basis [15:20] What are you sacrificing to reach your number? [16:13] Don’t limit your tax thinking [20:25] Gain confidence with a financial plan Resources & People Mentioned BOOK - by Russ Roberts Connect with Chad and Cameron Connect on Twitter Follow Subscribe To This Podcast <> <>
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How to Optimize Your Estate Plan with Adam Tarsitano, Ep #194
07/10/2023
How to Optimize Your Estate Plan with Adam Tarsitano, Ep #194
Today estate law attorney, Adam Tarsitano, joins us to discuss how you should think through some commonly misunderstood areas of your estate plan. Listen in to learn why you may not look forward to the sunset in 2026, the difference in various trusts, and whether you should open a trust to avoid probate. ***** 🎥 See 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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4 Books to Add to Your Summer Reading List, Ep #193
06/26/2023
4 Books to Add to Your Summer Reading List, Ep #193
Summer is here! That means it’s time to brush off the bookshelf and get reading. We have a few book ideas to enhance your reading list. If you are looking to improve your financial life or even just enjoy a light beach-read you won’t want to miss this list. Outline of This Episode [0:55] Never Split the Difference [5:20] The Gap and the Gain [9:55] Simple Wealth, Inevitable Wealth [12:52] Hello, Molly Resources & People Mentioned BOOK - by Chris Voss BOOK - by Benjamin Hardy BOOK - by Nick Murray BOOK - by Molly Shannon BOOK - by Susan Bradley BOOK - by Carol Dweck BOOK - by Marshall Goldsmith Connect With Chad and Mike Connect on Twitter Follow Subscribe To This Podcast <> <>
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When Are We No Longer Investing For the Long-Term?
06/12/2023
When Are We No Longer Investing For the Long-Term?
Most of us feel like we have a sound process for investing, that is until curveballs are thrown our way. Then, emotions like envy, greed, and fear take over, making us feel like we need to abandon our long-term investing process for the short term. We do this by taking impulsive actions like: Timing the market Buying what’s hot Selling what’s plunging However, the investors who do well, in the long run, are the ones who stay the course, focusing less on reactionary changes and more on well-defined targets that you can plan for. In this week’s episode, we talk about the importance of planning for cash flow needs over the next five years and how to reframe your thinking about making short-term changes to your investment strategy. ***** 🎥 See 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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Preparing Your Game Plan for an Ideal Retirement, Ep #191
05/30/2023
Preparing Your Game Plan for an Ideal Retirement, Ep #191
What can hockey teach us about pursuing your ideal retirement? As we watched our Carolina Hurricanes progress in the Stanley Cup playoffs, we were reminded of three hockey strategies that are also vital in fulfilling financial planning outcomes. And despite the early exit of the Canes in the Eastern Conference Finals, this hockey-themed episode can still assist you in the pursuit of your ideal retirement. As Wayne Gretzky reminded us, don’t skate to where the puck is, skate to where the puck is going. Too many investors skate where the puck is currently. This , mentioned in the show, is a good demonstration of results from people that tend to follow the herd to the hot trends now vs. investing where others are selling. Now on with this week’s episode. [2:18] Develop a game plan [6:50] Taking advantage of power plays [11:23] Winning the face-off ***** 🎥 See 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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Ways to Prevent Taxes From Catching You by Surprise, Ep #190
05/15/2023
Ways to Prevent Taxes From Catching You by Surprise, Ep #190
Are you the type of person who loves surprises? One surprise you probably don’t enjoy is having to pay more taxes than you anticipated. Unfortunately, taxes are a necessary part of life. The best thing you can do to ensure that you aren’t caught off guard at the end of the tax year is to prepare throughout the year. On this episode of Financial Symmetry, Allison Berger and I review 9 ways to prevent taxes from catching you off guard. Don’t let the next tax season take you by surprise. Listen in to hear how you can improve your tax situation so that you can rest easy come tax time. ***** 🎥 See 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 📰 See the
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Smart Financial Decisions for Recent College Graduates, Ep #189
05/01/2023
Smart Financial Decisions for Recent College Graduates, Ep #189
Many of our clients ask for financial books and other resources they can share with their loved ones to improve their financial literacy. When young people are armed with financial knowledge they make smarter financial decisions that will ultimately pay off in the long run. When young adults are just getting started, financial information is best shared in bite-sized pieces which makes a 30-minute podcast the ideal medium for potentially life-changing financial tips. If you know of someone who is about to graduate from college and embark on their journey into the adult world, this is the episode for them. They’ll learn how to make the best financial decisions they can with their new paychecks. Please make sure to share this episode with the young people in your life. ***** 🎥 See 📰 See the 📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. 🎯 Other Resources Mentioned: BOOK - by Elizabeth Dunn BOOK - by Ben Carlson BOOK - by Ramit Sethi BOOK - by Dale Carnegie - find fee-only financial advisors - more fee-only financial advisors
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Intentional Giving: Framing Your Charitable Goals, Ep #188
04/17/2023
Intentional Giving: Framing Your Charitable Goals, Ep #188
As you plan to live your ideal retirement, you may want to share your good fortune with others who are less fortunate. 🎥 See Giving is incentivized through the tax code, so being charitably inclined can also help to reduce your tax liability. In retirement, there are many ways to map out your charitable giving to take full advantage of the tax benefits. This is why, we discuss ways to capitalize on those opportunities while meeting your charitable goals. Listen in to learn how to enhance your today and enrich your tomorrow while giving intentionally. What You'll Learn In This Episode [0:49] Common charitable goals [2:37] Time talent and treasure [5:27] Mikey and Minnie’s case study [11:36] Donald and Daisy’s case study [19:13] Be intentional about your giving [21:10] Today’s progress principle ***** 📬 Tips each month to help you reach your Ideal Retirement. 📰 See the 🎯
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Financial Planning or Wealth Management? All the Small Things, Ep #187
04/03/2023
Financial Planning or Wealth Management? All the Small Things, Ep #187
Have you ever spent hours trying to fix something that, with the right tools, a professional could fix in five minutes? We’ve all been there. But it's often difficult to fully appreciate the time, effort, and in some circumstances the cost it could save you to enlist help earlier in the process. In today’s episode, we’ll explore six steps that are available to augment your lifetime savings. Press play to discover if you are missing out on critical savings tools. ***** 📬 Tips each month to help you reach your Ideal Retirement. 📰 See the 🎥 See 🎯
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Strategies for Managing Your Cash, Ep #186
03/20/2023
Strategies for Managing Your Cash, Ep #186
If you have been watching the news lately you may be wondering if your cash is safe. Watching the country’s 16th largest bank collapse causes people to question whether the banking system is set up to ensure that funds are accessible. On this episode of Financial Symmetry, we’ll discuss what happened to Silicon Valley Bank, examine how much cash you really need, and explore options for managing your emergency fund. Listen in to learn how to safely manage your emergency fund. Outline of This Episode [1:34] What happened with Silicon Valley Bank [4:40] How much cash do you really need? [7:50] How to manage your emergency fund [15:31] Create your own plan Connect With Chad and Mike Connect on Twitter Follow Subscribe To This Podcast <> <>
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Ways to Improve Financial Outcomes for Women, Ep #185
03/06/2023
Ways to Improve Financial Outcomes for Women, Ep #185
As International Women’s Day approaches, we wanted to get together to explore ways to improve the financial outcome for women across the globe. In this episode, Allison Berger, Grace Kvantas, Haley Modlin and Darian Billingsley, break down the four Cs of women’s personal finance. Resources & People Mentioned Episode 173 - BOOK - by Atul Gawande ***** 📬 Tips each month to help you reach your Ideal Retirement. 📰 See the 🎯 DOWNLOAD the
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