Retirease Radio with Victor Medina CFP®, RICP®, CELA®
Welcome To Your Best Retirement. Retirease Radio is the ultimate podcast for retirees that goes BEYOND just finance...because retirement involves so much more! A successful retirement involves not only financial planning, but it's a time to travel, to spend time with family, to contribute to your community, & more. This podcast will dive into areas like health, personal growth & development, community, relationships, spirtuality, & more! Tune in with your hosts, Victor & Ben, so you can create a retirement worth living. Make the last third of your life, the BEST third. #Taxes #401ks #IRAs #NewJersey #VictorMedina #MedinaLawGroup #Retirement #Money #Finances #PalanteWealthAdvisors #Retirease #WheelOfLife
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Super Nanny – The Critical Role Grandparents Play & the Benefits It Provides
04/25/2024
Super Nanny – The Critical Role Grandparents Play & the Benefits It Provides
In the bustling world of parenting, where the to-do list seems never-ending, there’s a new beacon of hope — grandparents. Being a grandparent can have a significant impact on the success and health of one's retirement, and today we’re going to talk about the physical, emotional, and financial benefits. Being an active and engaged grandparent can have numerous benefits, which we’ll dive into by discussing a study from Finland. It provides an opportunity to remain involved with younger generations, stay mentally sharp, and maintain an active lifestyle. Grandparents also have the chance to pass on wisdom and create lasting memories with their grandchildren. Additionally, there are financial benefits, such as the ability to provide support and assistance to family members while still alive, and the potential for reduced expenses by engaging in activities with grandchildren that don't require significant spending. Join us as we talk about the important role that grandparents play and explain how it fits into our Retirease approach to retirement. Here’s some of what we discuss in this episode: 00:00 - Introduction and the Impact of Being a Grandparent on Retirement Success 01:44 - The Benefits of Active and Engaged Grandparenting 04:44 - Passing on Wisdom and Creating Lasting Memories 15:51 - Financial Benefits of Being a Grandparent See the study here: About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Join and start receiving retirement tools: Watch the show on YouTube:
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Back to Basics: Financial Literacy 101
04/11/2024
Back to Basics: Financial Literacy 101
April isn't just about welcoming warmer weather; it's also Financial Literacy Month, a time to focus on our fiscal health and future. This episode will do just that, and it's an essential listen for anyone looking to secure their golden years with confidence and clarity. A study used posted by the American College of Financial Services used a Retirement Confidence Scale based on the respondent’s self-reported confidence that they will feel financially secure, have enough money to live comfortably, and do a good job handling their investments throughout retirement. Those who scored better in financial literacy were more confident in their retirement. We’ll journey through the critical elements of retirement planning, from understanding different types of IRAs to the intricacies of gift taxes. It's an engaging dialogue that isn’t meant to just inform but also inspire action. Here’s some of what we discuss in this episode: 0:00 – Intro 0:56 – Importance of financial literacy 2:35 – Study findings 8:40 – Correlation with earnings 11:58 – Retirement falls on you 19:10 – Traditional vs Roth IRA 23:32 – Retirement annuity 26:28 – After-tax accounts 18:08 – Mutual Funds and ETFs 31:13 – Gift tax About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Join and start receiving retirement tools: Watch the show on YouTube:
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Unlocking Your Retirement Potential: Goal Setting Strategies
03/28/2024
Unlocking Your Retirement Potential: Goal Setting Strategies
Do you have goals for your retirement? Do you even know how you would set them? Many people look at retirement as the finish line, but goal setting is a key piece of unlocking your true potential once you’ve stopped working. In this video, we’re going to walk you through how to create goals for your retirement so you can achieve all those things you dream about. We’ll start by explaining the power of goal setting and how it serves a much bigger purpose in retirement. Then we’ll help you identify the types of goals that might align with your interests and passions. And we’ll close it all out by providing you with an effective approach to setting and following through with the goals that you create. Here’s what we discuss in this video: 0:00 – Intro 2:38 – Goal setting into retirement 5:28 – Serves a bigger purpose 9:30 – Time and health 10:57 – Challenge of setting goals 13:35 – Categories of goals 19:36 – SMART approach to goal-setting 28:39 – Overcoming obstacles About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Join and start receiving retirement tools: Watch the show on YouTube:
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Age with Agility: Maximizing Health in Your Golden Years
03/14/2024
Age with Agility: Maximizing Health in Your Golden Years
In order to be able to truly enjoy retirement, health has to be a priority and Retirease focuses on the steps you need to take to maximize your golden years. In this episode, we are going to explore the essential non-financial elements that contribute to a truly fulfilling retirement, emphasizing the crucial bond between physical and mental well-being. You'll gain valuable insights on how to preserve your health and stave off the decline many fear as retirement approaches. With actionable advice on confronting common health concerns, this conversation is a must-hear for anyone eager to maximize their golden years. Discover practical strategies to enhance mobility and flexibility, including yoga and isometric exercises, and learn how these can be seamlessly integrated into your daily routine without the need for a gym. We also touch on the significance of diet and mental health in preventing chronic conditions and the surprising link between cognitive diseases and sugar intake. Our conversation is not just about planning for the future; it's about ensuring that future is as vibrant and fulfilling as possible. Here’s some of what we discuss in this episode: 0:00 - Intro 1:57 – Importance of health in retirement 5:24 – Ways to improve your health 11:48 – Common health concerns 17:19 – Steps to take today 21:21 – Accountability About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Join and start receiving retirement tools: Watch the show on YouTube:
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Making the Last Third of Your Life, The Best Third
02/22/2024
Making the Last Third of Your Life, The Best Third
We want everyone we work with to be able to say that the last third of their life was the best, which is always the goal for Retirease. There’s no reason your goals, ambitions, and sense of adventure have to slow down once you’ve retired, and the proper approach to that next phase of life can help you achieve this. In this video, we want to share some tips and strategies that will help you make that last third of your life the best it can be. By taking these steps, our hope is that you’ll be able to look back and say life has never been better than it is at this moment. So join us to learn how Retirease helps you create a life in retirement instead of just letting retirement happen to you. Here’s some of what we discuss in this episode: 0:00 – Intro 2:29 – The Retirease mission 3:25 – How people view retirement 6:00 – How to take control of retirement 11:25 – When to start planning 16:02 – Be intentional about every area of retirement About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Join and start receiving retirement tools: Watch the show on YouTube:
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Welcome to Your Best Retirement
02/08/2024
Welcome to Your Best Retirement
A fulfilling retirement goes well beyond the dollars and cents, and today we’re going to share our vision for what it takes to help you live your best life in retirement. The goal for Retirease Radio is to coach you through a holistic approach to retirement. Join us as Victor highlights the importance of health and personal growth in retirement, emphasizing the balance between enjoying life's pleasures and managing your well-being. Discover strategies to optimize personal and professional development, spirituality, family ties, and community contribution. Through personal anecdotes and Victor's extensive experience as a certified financial planner and elder law attorney, we illustrate the significance of community engagement and spirituality for a happy retirement. We also discuss the principles of personal development planning, setting achievable goals, and structuring a life that avoids stagnation. Here’s some of what we discuss in this episode: 0:00 – Intro 1:09 – The Vision for Retirease 5:09 – The different areas of retirement 11:20 – Prioritizing these areas 14:26 – Holistic approach to planning 17:10 – What can you expect from future shows? About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Join and start receiving retirement tools: Watch the show on YouTube:
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Financial Planning for Life’s Unexpected Events
01/11/2024
Financial Planning for Life’s Unexpected Events
Life happens. It’s such a simple but complicated statement because no one know what life will throw at us. The good and bad often comes at the most unexpected times and that makes planning very difficult. The good news is a comprehensive retirement plan prepares for what we know and is built to adapt to the events we can’t predict. In this episode, let’s go through some situations that require a little bit of extra attention and assessment in your overall retirement plan. If you haven’t taken the time to review the possibility of these in your life, make that a priority for 2024 so you don’t have to worry about being caught off-guard financially. Here’s some of what we discuss in this episode: If you’re leaving an old job, discuss what to do with the assets in your old employer’s retirement account. Then look for Roth options with the new company. What are you facing if you get laid off or fired unexpectedly? The financial burden that comes along with the death of a spouse. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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New Year Financial Resolutions
01/04/2024
New Year Financial Resolutions
As we begin another year with a fresh slate and a chance to improve ourselves, let’s talk about some resolutions that we could put in place to take positive financial steps forward in 2024. Hopefully this is something that you’ll revisit well beyond January, but we want to help you build a list for the new year. The stats say people stick to their new year resolutions an average of 15 days so it’s not easy, which is why we like making it a part of an ongoing effort for self-improvement. Here’s some of what we discuss in this episode: Why Victor doesn’t use resolutions for annual goal-setting. How to stop being so disorganized with your finances. Take the time to understand what you’re invested in. Stop giving away your retirement savings in the form of hidden fees and expenses. Stop taking on unnecessary risk. Get on the same page with your spouse when it comes to your finances. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Mailbag: Healthcare Costs, Retirement Savings Target, and Estate Disputes
12/28/2023
Mailbag: Healthcare Costs, Retirement Savings Target, and Estate Disputes
Retirement is more than just a numbers game; it's an intricate dance of elements that blend to create a fulfilling post-career life. In this episode, we’ll open up the mailbag and unpack the components that make up a robust retirement strategy, addressing everything from the ebb and flow of market volatility to maximizing Social Security benefits and tackling healthcare costs head-on. We also shine a spotlight on the thorny issue of estate disputes, illustrated by a listener's question about a contested beneficiary designation. Sharing insights on setting up a revocable trust and other mechanisms, we help you be equipped with the tools and knowledge to safeguard your legacy and retire with peace of mind. Here’s some of what we discuss in this episode: How can you figure out if your parents need help financially as they age? Do you need 15-20 times your annual salary to be able to retire comfortably? How to settle estate disputes between when wishes aren’t clear. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Navigating Retirement Challenges: Smart Strategies for Investing and Insurance
12/21/2023
Navigating Retirement Challenges: Smart Strategies for Investing and Insurance
Join us today as we address some of the critical pillars of a successful retirement: investing, income, taxes, and estate planning. We’ll do this by tackling a few great questions from our listeners, offering clarity and strategic insights for your retirement journey. Whether you're worried about unexpected life insurance policy charges or seeking stability in volatile markets, we’re here to help you navigate these challenges with confidence. Here’s some of what we discuss in this episode: Why would your life insurance policy require you to start paying premiums again? Which investments you should consider if you can’t tolerate the volatility in the market. Ways to supplement your income if you reduce your work hours. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Financial Mailbag: Gifts to Children, Roth Conversions, & Life Insurance
12/14/2023
Financial Mailbag: Gifts to Children, Roth Conversions, & Life Insurance
It’s time to open up the mailbag on the show and answer a few financial questions that we’ve gotten recently. Listen as Victor addresses situations dealing with helping your adult children financially, making Roth conversions, and determining how much life insurance is needed. Today’s show will cover three topics that almost everyone will face so this conversation should be very insightful. Victor will share his approach to each of these scenarios and explain how he works through them with clients to find the best strategy moving forward. Here’s some of what we discuss in this episode: What’s the best way to help an adult child financially? Is it college funds, daycare, retirement, or something else? What you need to consider before converting a large amount of money into a Roth How much life insurance do you need to have on the main breadwinner of the family? About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Financial Forecast: Planning That Can Weather the Elements
12/07/2023
Financial Forecast: Planning That Can Weather the Elements
You can find financial lessons everywhere in life and today we’re going to relate planning to the weather, something we all pay attention to every day. From tornadoes to black ice, we’ll share the appropriate analogies for each type of forecast and explain how our approach to planning will help you prepare for all of the elements. Much like the weather, you have to be ready to face anything the day brings your way. Life, like retirement, doesn’t pause when the elements get a little rough. We have to use the tools available to handle the devastating force of a tornado and the unforeseen effects of the jet stream and help you better prepare in today’s episode. Here’s some of what we discuss in this episode: Tornadoes happen quickly and cause large damage in minutes, which is much like a market downturn in retirement. The unseen force of the jet streams and how it affects all of the weather. How the heat index compares to the risk in your portfolio. How people slip on ‘black ice’ in retirement planning. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Grade Yourself on a Retirement Readiness Quiz
11/30/2023
Grade Yourself on a Retirement Readiness Quiz
How financially fit are you for retirement? Get ready to find out with a self-assessment on must-know topics like assets, spending, risk tolerance, fees, and income streams. We have five questions that every retiree needs to be able to answer and Victor Medina will explain why each of these is so crucial for retirement planning. Acing it requires knowing the purpose of your investments, understanding how to calculate risk, and having an income plan prepared. Tune in now to assess your preparedness and pick up practical pointers to improve your retirement planning report card. Here are the questions we’re going to quiz you on today: Do you know how much you have financially? Do you know how much you’re actually spending? Do you know how much risk you have? Do you know what you’re paying fees? Do you know what your retirement income streams will look like? About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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The Financial Draft
11/21/2023
The Financial Draft
If you were the general manager of a financial team, which products or investments would you prioritize to give you the best chance of success? That’s what we want to discuss today so we’ll have a little fun with this conversation by making Victor the GM. We’ll present some of the financial topics and items you might be most familiar with and find out where he would draft them. If you’re a sports fan, this should be an enjoyable exercise, but even if you’re not, there should be some useful information you can apply to your approach to planning in order to help win the game of retirement. Here are some of the things we’ll ask Victor to evaluate: The Roth IRA Where does gold fit in? The Life Insurance Retirement Plan The variable annuity The indexed annuity Rental properties About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Is This an Investment or Not?
11/16/2023
Is This an Investment or Not?
Today we are going to play a little game we’ll call, ‘Investment or Not?’ People will try to justify a purchase by calling it an investment, but just because you spend a little extra money on something doesn’t make it an investment. On today's show, we examine the definition of an investment and explore how investing is not just about stocks and bonds. We’ll present Victor with various scenarios and find out if he would classify them as investments. We’ll be exploring if buying a snazzy car for a long commute, or even adding a screened-in porch to your home, could be considered investments. We’ll also help you understand if they’re actually good investments as well. Here’s some of what we discuss in this episode: Is it worth spending more on a nice car if you spend a lot of time commuting? Are collectibles like baseball cards an investment? What about adding a home renovation like a screened-in porch? As a business owner, is hiring quality people an investment in your business? Buying land without a plan to build on it or not. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Finding the Right Financial Advisor
11/09/2023
Finding the Right Financial Advisor
Not every financial advisor is created equal so picking the right one to work with can benefit you for years to come. But no one intentionally chooses someone that isn’t a good fit so what should you be looking for in a financial advisor? In this episode, we’ll talk about the characteristics that make up a good advisor and provide guidance on what questions you should be asking. Whether you’re looking for an advisor for the first time or just curious whether your current advisor is the best fit, Victor will help you identify someone with the right philosophy to get you to and through retirement. Building t Here’s some of what we discuss in this episode: Our philosophy at Palante Wealth and how we approach our relationships with clients. How do you truly know if someone is the right fit? What could go wrong if you’re working with someone who isn’t a good fit? What are your options if you aren’t comfortable with your current advisor? About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Hindsight is 20/20 in Financial Planning
11/02/2023
Hindsight is 20/20 in Financial Planning
Knowing what you know now, you’d probably go back and change some of your past decisions. Since that’s not possible, the next best thing is learning from other people’s mistakes. We all have things we wish we’d done differently, and today we’re going to share some of those scenarios where financial mistakes were made that don’t look so good in hindsight. From the lessons of the 2008 crisis to understanding the risk in your investments, we walk you through real-life scenarios that can significantly impact your retirement plans. Tune in, and equip yourself with knowledge that could redefine your financial future in retirement. Here are some of mistakes we can learn from: Investing too conservatively following a market crash and missing out on a big bull run Not understanding the risk in your portfolio until a down year happens. Making Social Security decisions without understanding your options. Wishing you put more money into a Roth IRA to avoid the tax time bomb in retirement. Retiring too early and realizing you have to go back to work. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Ways That People Ruin Their Retirement
10/26/2023
Ways That People Ruin Their Retirement
Would you like to avoid the financial missteps that can derail a retirement? Knowing where people often make the wrong decision or fail to take the proper action can help you keep from making the same mistakes and ruining your retirement. In today’s show, Victor will lean on his past experience to help identify the areas that typically cause people to have problems in retirement and he’ll also help you know what to do differently if you’re in these same positions. Here’s some of the mistakes we discuss this episode: Treating retirement like the destination rather than the beginning of the next chapter in life. Retirement doesn’t mean that all of your challenges disappear and all of your problems are gone. Your monthly spending habits likely can’t be determined strictly based on what you're spending while you’re working. Not having a plan for being active in retirement. Investing the same way in retirement that you were when you were in your 30s. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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The Risk of Living a Long Time
10/19/2023
The Risk of Living a Long Time
More and more people are living a longer time, which is a great thing. But it can also pose a significant risk to your retirement if you haven’t planned properly. If we knew exactly how long you were going to live, determining how much you need for retirement would be pretty easy. Since we can’t plug that number into a calculation, we need to take the proper steps to ensure your money lasts as long as you do. In this episode, we’ll talk about planning with longevity in mind and how we build that risk into every plan we build. Here’s some of what we discuss in this episode: Why Victor would choose spending money to gain time when given the option. Who are some of the older people we work with. Does longevity run in Victor’s family? How effective are people at planning for this possibility of a long retirement on their own? How we help people who worry about running out of money. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Pre-Retiree Mistakes to Avoid
10/12/2023
Pre-Retiree Mistakes to Avoid
No one wants to make mistakes, but we’re all human. It’s going to happen to all of us, and we see pre-retirees make many of the same mistakes with their finances. Our role as financial advisors is to not pass judgment and make you feel bad about those mistakes, but to help you right the ship and get back on the correct path. In this episode, we’ll discuss some of the most common mistakes and talk about how we help people avoid them. It’s important to remember that it’s not about the mistake but rather how you react to it. If we can help you recognize the problems and help you make a different decision, you’ll be able to continue to get a little better with your finances. Here’s some of what we discuss in this episode: People continue to invest like they’re in their 30s even though they are approaching retirement. How to determine when you should be claiming Social Security. Why tax planning is more important for long-term success than tax preparation. Can you assume that your healthcare needs are going to be covered by Medicare? Why you shouldn’t take on more risk to play catch-up if you feel you’re falling behind. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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The Client Review Process for Different Personalities
10/05/2023
The Client Review Process for Different Personalities
We want to talk today about client reviews and how we approach them depending on the type of client we’re working with. Periodic reviews with certain clients can look very different from reviews with others, and we enjoy the variety of conversations we’ll have with folks. We’ll have a little fun with this conversation by describing a handful of personalities and then have Victor explain what the reviews will consist of for each person. Plus, you’ll get a better idea of what our review process looks like in general and why it’s so important for us to provide continuing education for our clients. Here’s some of what we discuss in this episode: What we do for people who are very busy and don’t often have time to meet. How we provide continuing education for people so that they feel comfortable with their plan. How we work with someone who is emotional about money and the markets. We want to stay objective and dispassionate with people who always seem to have major life events happening. Providing support for people who worry a lot about money and what’s happening in the news. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Retirement Wisdom from Bruce Springsteen Quotes
09/28/2023
Retirement Wisdom from Bruce Springsteen Quotes
New Jersey’s own Bruce Springsteen is one of the most successful musicians of all time and he’s been entertaining people around the world for decades. His fans can recite many of the lyrics in his songs word-for-word, and it’s easy to find inspiration from his music. In this episode, we’re going to spotlight some of our favorite quotes from The Boss and apply them to what we do each day in retirement and estate planning. There’s a lot to learn from Bruce, and even though we may not listen to as much of his music as many others in New Jersey, we can appreciate the wisdom in each of these quotes. Here are the quotes we’ll discuss in this episode: “Adult life is dealing with an enormous amount of questions that don’t have answers.” “The release date is just one day, but the record is forever.” “A good song takes on more meaning as the years pass by.” “If you’re good, you’re always looking over your shoulder.” About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Constructing Your Financial House
09/21/2023
Constructing Your Financial House
For some people, the idea of putting together a financial plan doesn’t sound like much fun. But the idea of building a home sounds much more enjoyable. So let’s find the similarities in building a strong financial plan and a dream home. In this episode, Victor will help us construct our financial house step-by-step and explain which pieces of planning play the part of the foundation, walls, roof, and the finishing touches. Putting together a strong financial plan, like a home, will be built to last for years and through any type of weather. Here are the quotes we’ll discuss in this episode: The foundation of any plan, like a home, has to be solid and it starts with an income plan. The investments we choose will serve as the walls of our financial house to provide structure. The tools we use to help someone protect their financial house. Putting the finishing touches on your house and buttoning up all the little items comes in the form of estate planning. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Financial Planning with Yogi Berra
09/14/2023
Financial Planning with Yogi Berra
Yogi Berra is one of the most quotable people to ever live. He could entertain even more than he could play baseball, and he was a really good catcher. Even as a Red Sox fan, Victor has an appreciation for many of the things Yogi said through the years. When we look at some of his quotes through the right prism, they can teach us some lessons about financial planning. So that’s what we’ll try to do in this episode. We’ve pulled six great quotes that Yogi said through the years and we’ll going to make sense of them for what we do every day in retirement and estate planning. Here are the quotes we’ll discuss in this episode: “I never said most of the things I said.” “A nickel ain’t worth a dime anymore.” “If you don’t know where you’re going, you might wind up some place else.” “When you come to a fork in the road, take it.” “The future ain’t what it used to be.” “It’s like déjà vu all over again.” About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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The Good News-Bad News in Financial Planning
09/07/2023
The Good News-Bad News in Financial Planning
Life is all about balance and today’s show will keep you level-headed when it comes to certain financial situations. Every decision we make needs to take into consideration the pros and cons and weigh them against each other to determine which option is best. We going to look at a few different situations where there are positives but those don’t usually outweigh the bad. This good news-bad news happens all the time in financial, retirement, and estate planning and our job is to help clients sort understand the full picture so they choose what benefits them the most. Here are some of the things we’ll discuss in this episode: The interest on your debt might be tax deductible but that’s not worth carrying it. Should you let low fees keep you in a mutual fund that doesn’t perform well? If you’re depending on Medicaid to pay for your nursing home care, it means you don’t have much else left in the bank. Can you count on your portfolio always bouncing back after a big drop? About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Financial Planning with George Bernard Shaw
08/31/2023
Financial Planning with George Bernard Shaw
No matter where you go or who you meet, there’s always an opportunity to glean financial wisdom from unexpected places in life. Today’s show is a great example of that as we’re going to see what we can learn about financial planning from these quotes from the great playwright George Bernard Shaw. The Irishman was born in the mid-19th century who made an impact on the arts along with being a critic and political activist. As you’ll see from the list of quotes below, he was a very thoughtful man. Let’s dive into a few of his most memorable quotes and apply them to the way we approach financial planning and retirement. Here are the quotes we will translate to the financial world: “Progress is impossible without change, and those who cannot change their minds cannot change anything.” “We don’t stop playing because we grow old; we grow old because we stop playing.” “Beware of false knowledge, it is more dangerous than ignorance.” “The possibilities are numerous once we decide to act and not react.” About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Navigating Financial Challenges in Retirement: Market Crashes, Home Purchases, and Investment Risks
08/24/2023
Navigating Financial Challenges in Retirement: Market Crashes, Home Purchases, and Investment Risks
When it comes to retirement, planning is not always a simple and straightforward process. From market crashes to real estate investments and the labyrinth of investment products, retirees face numerous financial challenges. Many of those challenges come to us in the form of questions, and that’s what today’s episode is all about. Today we dive into planning for retirees by covering an extensive range of topics, including strategies for mitigating risk during market fluctuations, planning for home purchases in retirement, understanding the impact of potential market crashes on personal finance, and more. This mailbag edition hits on a wide range of planning items so there’s a good chance one or more will be of use to you. Here are some of what we discuss in this episode: Is the market going to crash soon? How can we prepare for that possibility? There’s one benefit and one negative for having a mortgage in retirement. Weighing the benefit of growth and liquidity when figuring out how much cash to put in the bank. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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The Risk of Longevity to Your Retirement
08/17/2023
The Risk of Longevity to Your Retirement
We’re all living longer thanks to modern medicine, and that should be a good thing, right? Being able to enjoy life, and retirement, for many years is a great thing, but it also presents a big risk to retirement. This longevity risk refers to the risk of outliving your retirement savings. This is becoming a growing concern, especially with increasing life expectancies. In this episode, we’re going to highlight the importance of strategic thinking, valuing time over money, and implementing a holistic retirement plan that includes investing, income tax, and estate planning. Here are some of what we discuss in this episode: Why can living a long time carry a lot of risk? We address the financial challenges that come with living longer. What can you do if running out of money is suddenly a reality? How we work with people and plan for those that come into our office with this worry. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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Reasons To Run Away From Your Lawyer
08/10/2023
Reasons To Run Away From Your Lawyer
It’s important to understand before you work with an attorney that not all lawyers are created equal. While we hope everyone is ethical and hard-working, there are numerous situations where the client needs to proceed with caution. Join us as we explore the crucial task of finding the right attorney for estate planning, a decision that could impact your family for generations to come. Listen as we share the warning signs to look out for when selecting an attorney, such as those who offer quick recommendations without taking the time to understand your unique situation. We also discuss the dangers of appointing an attorney as a fiduciary and how it could potentially lead to conflicts of interest. Don't miss out as we shed light on the key differences between an expert lawyer in the field and those who are merely moonlighting. We also share insights on our firm's initial meeting process and why it's essential to create a low-pressure environment. Our host, Victor Medina, is a Certified Financial Planner®, estate planning attorney, and certified elder law attorney and lends his expertise in what you need to be on the lookout for. Here are some of what we discuss in this episode: Why an attorney that makes recommendations and gives you direction before knowing anything about your family is a red flag. Should your attorney force you to become their fiduciary? Why you want to work with someone who has a specialty in what you need instead of someone who is an ‘expert’ in everything related to law. Can your attorney also take care of your taxes, investments, and other planning needs? About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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The Retirement Challenges Facing Different Generations
08/03/2023
The Retirement Challenges Facing Different Generations
Every generation likes to talk about how hard they had it, but there’s a lot of truth in that when you talk about retirement planning. Each generation brings a unique set of challenges that weren’t around when they’re parents retired. Today we’ll identify these generational challenges to help you get prepared and share some things that have to be addressed. If you’re a Baby Boomer getting that is nearing retirement or already there, this episode will be of particular interest to you. With more than 10,000 Baby Boomers entering retirement every day, this generation has become our primary focus for planning. Everyone entering this new phase of life is doing so with different life circumstances and this has created some unique challenges for this generation compared to previous ones. But we’ll also talk about Generation X and the Millennials as well because many of them have started thinking about retirement or will be doing so very soon. Here are some of what we discuss in this episode: The Millennials face a lot of student loan debt and that creates savings challenges. Generation X (1965-1980) are in that age gap where they are tempted to spend the extra income and have the ‘sandwich generation’ challenges. At what age you should start your planning process? The biggest things we focus on with Baby Boomers right now. About Retirease Radio: Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances. Connect: Medina Law Group: Palante Wealth Advisors:
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