Listen Now

What does it take to build a portfolio for a client? Today we’ll take you through the process of how we create model portfolios and what goes into determining what portfolio will work for each individual.   Read more and get additional financial resources here: https://pffirm.com/2020/11/creating-model-portfolios-for-clients/    What we discuss on this show:  2:03 - How does the final month of the year look for Chris?  4:07 - What is a model portfolio 6:42 - Determining which model fits you 10:46 - How many models are there?  13:45 - Tweaking existing models to meet a client’s needs  16:16 - How often do you change the models for someone?

On this episode, we present you with five commandments that are worth of being written on stone tablets in your retirement plan.   Read more and get additional financial resources here: https://pffirm.com/2020/11/following-the-financial-commandments/    What we discuss on this show: 1:45 - Is a second stimulus necessary? 4:40 - Financial Commandment 1 7:53 - Financial Commandment 2 11:49 - Financial Commandment 3 14:42 - Financial Commandment 4 17:58 - Financial Commandment 5 21:00 - Summarizing these commandments.

We all have some things we would have liked to differently in hindsight, especially as it relates to our finances. That might be especially true in 2020 as we all deal with difficult circumstances due to COVID-19. Here are some things we might hear about our planning decisions in hindsight.   Read more and get additional financial resources here: https://pffirm.com/2020/10/hindsight-in-20-20-in-financial-planning/    What we discuss on this show:  3:42 - I got scared after the market crashed and put my money in cash. Now I’ve missed the big run up in the market.    6:50 - I didn’t realize how much risk I was taking on. 9:30 - I didn’t understand my options with Social Security and I should have waited to start taking it later. 11:17 - I should have put more money into a Roth IRA rather than saving so much in my 401k. 13:45 - I probably retired too early and I might need to go back to work. 15:36 - Mailbag question: I’m getting a big tax refund and have for the last several years. Am I better off keeping more money throughout the year?

Investing now is much different than it was even 20 years ago and your retirement planning needs to evolve with it. Today we’ll discuss five different planning ideas that might have been solid at one point but don’t work as much under the current economy and market conditions.   Read more and get additional financial resources here: https://pffirm.com/2020/10/obsolete-retirement-planning-ideas/    What we discuss on this show:  3:18 - Trump’s capital gain tax proposal 7:35 - Obsolete planning discussion begins with the 4% rule 9:48 - The 10-5-3 Rule 11:52 - Move from stock to bonds as you get older  14:11 - Make it to $1 million and you’re ready to retire.    17:28 - You’ll need less income in retirement than when you’re working. 20:36 - Don’t generally follow any rules of thumb in retirement planning. Map it out.

Putting together a retirement portfolio can seem like a daunting task, especially if you don't have a lot of knowledge pertaining to the financial industry. Chris discusses what the 4 key areas of a portfolio are and some things you should look out for in each category. Show Notes: Website: PFfirm.com Phone Number: 904-285-4489

There are some financial planning blunders that are interesting to talk about but are quite rare in reality. On the other hand, there are some financial planning mistakes that happen far too often. Let’s talk about the mistakes so many people have made in the past it has made them “classic”. Show Notes: Website: PFfirm.com Phone Number: 904-285-4489

Many people believe that whoever is in the Presidential office has a direct correlation to how the stock market performs. Today Chris is here to debunk some common misconceptions about the relationship between the stock market and political matters. Show Notes: Website: PFfirm.com Phone Number: 904-285-4489

People are always studying geniuses and highly intelligent people, trying to get an understanding of what makes them tick. Let’s look at some of the common characteristics of highly intelligent people that you should apply to your financial life. Show Notes: Website: PFfirm.com Phone Number: 904-285-4489

It seems that most people don’t have a clear picture of whether they should contribute to a traditional IRA or a Roth. Let’s discuss how to determine what’s best for you. Show Notes: Website: PFfirm.com Phone Number: 904-285-4489

Today episode is dedicated to answering some email questions that we have received in the mailbag. We'll cover how accurate online retirement calculators are, having diversification in your portfolio, and the importance of being able to generate income in retirement. Show Notes: Website: PFfirm.com Phone Number: 904-285-4489

No one knows exactly what the market holds, but you don't need a crystal ball to have a successful investment plan. Chris will explain how standard deviation applies to this planning process and can give you confidence in the outcome. Show Notes: Website: PFfirm.com Phone Number: 904-285-4489

This week, we look a bit more in depth at the Dalbar Report to see what key factors cause investors to frequently underperform the market. Find out how you can use the findings from the Dalbar Report to make smart decisions with your money in this uncertain, volatile time. Show Notes: Website: PFfirm.com Phone Number: 904-285-4489

Many people think it's possible, with the right information or the right guidance, to time the market. Chris turns to the Dalbar Report to give us a look into the stock market history and how emotional decisions and attempts to time the market have panned out for investors over the last several decades. Show Notes: Website: PFfirm.com Phone Number: 904-285-4489

The idea of a Roth conversion is intriguing to a lot of people, and for some people it can be a great strategy to enact. Let’s explore the concept… Show Notes: Website: PFfirm.com Phone Number: 904-285-4489

The CARES Act provides relief to individuals and small businesses struggling financially due to the coronavirus health crisis but how does it affect you directly. Let's look at five of the key provisions and explain why they are important to your financial plan. Show Notes: Website: PFfirm.com Phone Number: 904-285-4489  

There's a lot of confusion out there surrounding Health Savings Accounts. Chris will talk about how you can become eligible for a health savings account as well as how to choose the account that's right for you. He'll also give you a tip on hidden Medicare taxes that you might not be aware of, and give you his take on a recent tax-related executive order.

Does your retirement plan include the potential costs of long-term care? Are you unsure if you need to even plan for long-term care? On this episode, Chris will discuss some essential facts about long term care and what that means for you. But first, he’ll dive into some surprisingly affordable retirement destinations in the Caribbean, as mentioned in USA Today.

What does it mean to “win” in retirement? Chris will show you how removing uncertainty in three key areas of your portfolio will bring you closer to a worry-free retirement where you can focus on what really matters to you. He’ll also discuss his perspective on wealth in relation to recent news events, and later he’ll get into some listener-submitted questions.

You’ve probably heard about various types of Roth IRAs, but Chris will introduce you to the Mega Backdoor Roth IRA and discuss how this can be an amazing tool for folks whose income does not allow them to contribute to a Roth IRA. Later on, get some insight into pension options, as well as the dangers of variable annuities.

Anytime the market is moving in a downward direction, or even just wavering, we see people react in various ways. Take a listen to see if you identify with one of these common reactions to market corrections. Do you over-trade as a response? Do you stick your head in the sand or run around like a chicken with your head cut off? We’ll give you ways you can avoid becoming your worst enemy and show you how to keep particular emotions and reactions in check during times of market turmoil.