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Think about the things in your life that you don’t think about that often. The smoke alarm, airbags in your car, fire extinguishers. Each of these things don’t really matter day-to-day until you need them and you’re glad they’re available and working.   Read more and get additional financial resources here: https://pffirm.com/2021/08/things-that-dont-matteruntil-they-do/    What we discuss on this episode:  2:56 – Legal Documents 5:45 – Long Term Care 8:36 – Life Insurance 10:58 – Lifetime Income Streams

The world is a serious enough place as it is so let’s take a deep breath and have a little fun on this episode. We found a handful of financial jokes that we thought were pretty funny so we’re sharing them with you on this episode. Let’s also explore the financial lessons we can gain from the punchline.   Read more and get additional financial resources here: https://pffirm.com/2021/08/its-just-a-joke/    What we discuss on this episode:  2:16 – Credit Card Debt 5:39 – Bonds 7:32 – Balances 10:06 – Investing 11:45 – Stock Market volatility 16:25 – Retirement age

The planning methods and your parents used likely won’t get you to where you want to be in retirement today. So much has changed over the past 20-30 years that make it harder on pre-retirees today. Let’s look at how planning has shifted and what you need to be aware of with your finances.   Read more and get additional financial resources here: https://pffirm.com/2021/07/not-your-fathers-retirement/    What we discuss on this episode:  1:18 – Reality of retirement planning today 4:14 – Working beyond the age of 65 9:08 – Expenses not decreasing in retirement 12:04 – So many more things to juggle 14:33 – Portfolio have to last longer 17:29 – Stresses the importance of planning

At first glance, each of these statements seem like basic common sense that everyone agrees with. But when we look at the way people actually behave with their money, it seems that common sense is actually a bit uncommon.    Read more and get additional financial resources here: https://pffirm.com/2021/07/learning-through-uncommon-sense/    What we discuss on this episode here: 2:39 – Buy Low and Sell High 5:03 – Don’t pay more in taxes than you have to 9:03 – Keep costs low 13:26 – Don’t put all of your eggs into one basket 16:09 – Market timing is virtually impossible

Now that the first 100 days of President Biden is in the books, what needs to be on your radar in terms of financial planning? Chris shares his thoughts on some key policy proposals and what it could mean to clients.    Read more and get additional financial resources here: https://pffirm.com/2021/06/financial-planning-under-president-biden/    What we discuss on this episode:  1:11 – What we’re hearing from clients 3:03 – Stimulus spending 8:37 – Infrastructure plan 12:13 – Capital Gains Tax Increase 13:40 – International relations 15:16 – Green New Deal

Have you ever been speaking with a financial professional and felt like they were speaking in code? Today we’ll look at a few examples of what you might hear someone say and break the code by telling you what they really meant.   Read more and get additional financial resources here: https://pffirm.com/2021/06/what-you-really-meant-to-say-was/    What we discuss on this episode:  2:49 – Market Corrections 4:26 – Stocks   8:03 – Setting parameters and expectations 9:44 – Fee structures   12:15 – Financial Designations 15:52 – Making Planning Too Confusing  

The question everyone has about retirement is how much am I going to need? A million dollars seems like a magic number, but how long will it actually last you? We’ll go through a recent Yahoo! Finance survey and discuss how we help clients determine that number for their retirement.   Read more and get additional financial resources here: https://pffirm.com/2021/05/how-long-will-a-million-dollars-last-you/    What we discuss on this episode:  2:38 – Details on the Yahoo! survey 6:14 – Annual expense measurement 8:56 – How much our average clients spends every year 10:36 – How many years should you plan for in retirement?

There are areas of your financial life that might be in bad shape and you don’t even realize it. On this episode, we’ll identify five areas of planning that could result in disaster if you haven’t paid them any attention.   Read more and get additional financial resources here: https://pffirm.com/2021/05/are-you-flirting-with-financial-disaster/    What we discuss on this episode:  2:12 – Out of date legal documents   6:01 – Beneficiaries 9:31 – Tax time bomb 13:03 – Longterm care expenses 17:31 – The 60/40 investing portfolio  

Have you ever wondered how much your advisor thinks about your portfolio and how invested they get in your performance? We want to pull back the curtain a bit and give you the perspective from the other side of the table.   Read more and get additional financial resources here: https://pffirm.com/2021/04/are-advisors-invested-in-your-results/    What we discuss on this episode:  1:37 – What does Chris do after tax day? 4:36 – All about trust 5:46 – Setting expectations 10:29 – Acting emotionally 13:57 – Open door policy 16:33 – Final thoughts

Many of our clients ask about annuities and whether they’re a good option to create income in retirement. If you’re in that same position, you’ll want to hear our detailed breakdown of this product, the pros and cons, and who would be a good fit for an annuity.   Read more and get additional financial resources here: https://pffirm.com/2021/04/what-you-need-to-know-about-annuities/    What we discuss on this episode:  3:42 – The different types of annuities starting with Fixed 4:44 – Variable 6:54 – Fixed Index Annuity 10:00 – Pros and cons 15:11 – Performance during bull and bear markets 21:58 – Who is an annuity good for? 26:26 – Chris works with clients quite a bit on this

A question that all parents have to weigh is how much should they involve their children in family finances. Every child is different and there are pros and cons to both sides of the argument. Today we’ll find out where Chris stands on this topic and how he talks to his children about money.   Read more and get additional financial resources here: https://pffirm.com/2021/03/should-kids-be-involved-in-financial-decisions/    What we discuss on this episode:  1:28 – What role Chris’ parents played in his view of money? 4:18 – Getting kids involved 8:50 – Treating each child differently 11:35 – Arguments against getting kids involved 14:02 – Dangers of today’s technology 16:57 – Have clients shared tips?

After the year we had in 2020, a lot of people want to know which direction we’re headed this year. While we don’t have a crystal ball, we do have some opinions on the strength of the economy and the sectors that enjoy a return to normal in 2021. Join us for this episode and get Chris’ financial outlook.   Read more and get additional financial resources here: https://pffirm.com/2021/03/our-financial-outlook-for-2021/    What we discuss on this episode:  3:08 – What is Chris’ outlook for 2021?   4:58 – What sectors could rebound first?   7:12 – Could this growth extend for a long time? 9:42 – The reason for optimism in the market 11:33 – Impact of stimulus 13:18 – Any areas of concern? 16:07 – Planning opportunities this year?

Have you ever stopped to think about your journey of learning all that you have about money and finances? Did you parents shape your financial views most heavily? Is there a TV or radio expert that has influenced you most? Or have you learned everything from a book or Google?   Read more and get additional financial resources here: https://pffirm.com/2021/02/where-does-my-financial-knowledge-come-from/    What we discuss on this episode:  3:18 – Picking up advice from the ‘celebrity’ financial experts 6:46 – Recommended books 9:00 – What influence did Chris’ parents have on his view on money? 10:52 – Friends 13:22 – Professional relationships   15:17 – How has your view of money changed with age? 18:31 – Is technology today good or bad for financial literacy?

Everyone wants to know when the next market crash is going to happen, but there’s no one with that answer. The better question is what can you do to be prepared for that next crash? Let’s take a look back at the worst crashes in market history and what lessons they taught us about planning.   Read more and get additional financial resources here: https://pffirm.com/2021/02/lessons-from-the-market-crash-hall-of-fame/    What we discuss on this episode:  2:10 – Crazy start to 2021 with Gamestop and other market news 5:03 – Black Tuesday 9:10 – Dot Com Crash 13:11 – September 17, 2001 15:57 – The 2008 crash   21:56 – What does the future hold?

No industry is without its flaws, and the financial industry is no exception. Let’s explore some times where we’ve encountered annoying or frustrating elements of the financial world. As you would expect, Chris will give it to you straight.   Read more and get additional financial resources here: https://pffirm.com/2021/01/what-drives-your-financial-advisor-crazy/    What we discuss on this episode:  2:49 – Hidden Fees 4:14 – Clients that are worried about their own goals over their client 6:49 – How can you tell if an advisor is putting their goals first? 7:26 – Big brokerage firms pushing products 9:04 – One-size-fits-all sales pitch 10:07 – It reflects poorly on the industry 12:05 – Buzzwords and jargon 15:08 – Financial plans that are too long

The new year means it’s time to start laying out plans and goals for 2021. Let us help you with the financial side of those resolutions by highlighting six planning items to review over the next 12 months.   Read more and get additional financial resources here: https://pffirm.com/2021/01/beginning-of-the-year-planning-items-for-2021/    What we discuss on this show:  3:15 – Expecting another unpredictable year in 2021 4:40  – Maximize your contributions 6:19 – Review the pandemic relief packages 8:16 – Exploring possibilities for tax-loss harvesting 9:33 – Charitable contributions 11:37 – Consider purchases that could give you a tax credit 13:19 – Roth Conversion 15:48 – Making planning a priority this year

You’ll probably find that advisors have varying opinions when it comes to annuities, but variable annuities might have the worst reputation of them all. Today we’ll tell you why variable annuities aren’t usually a good investment and why Chris rarely uses them in portfolios he builds.   Read more and get additional financial resources here: https://pffirm.com/2020/12/are-variable-annuities-a-bad-investment/    What we discuss on this show:  2:39 – Why so much disdain for variable annuities? 4:37 – Do you find many people with variable annuities? 6:49 – Can you have a variable annuity and not realize it? 8:00 – Understanding all the fees associated with these 14:29 – Do you ever use variable annuities for clients? 15:40 – Can you get out of a variable annuity?

Picking a financial advisor is one of the most important things you’ll do for your retirement, but how do you know if you’re making the right choice? Today we’ll lay out the expectations you should have for this relationship, what to look for when interviewing people, and why it can have a big impact on your financial future. Plus, we’ll tell you about the top 15 cities for retirement.   Read more and get additional financial resources here: https://pffirm.com/2020/12/how-to-pick-the-right-financial-advisor/   What we discuss on this show: 4:17 – Top 15 retirement locations 6:00 – Are many of your clients looking to move in retirement? 6:41 – Tax considerations for moving 8:15 – Picking the right advisor. Let’s start with expectations. 12:29 – Warning signs 15:07 – Can your advisor become a bad fit over time? 17:07 – What can go wrong if you stick with the wrong advisor? 19:02 – Should you interview multiple people? 22:18 – How to determine if someone is a good fit for you? 25:41 – How to get in touch with Chris

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:  4:46 - How does the final month of the year look for Chris?  7:21 - What is a model portfolio 11:25 - Determining which model fits you 14:25 - How many models are there?  15:15 - Tweaking existing models to meet a client’s needs  16:55 - 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: 2:21 - Is a second stimulus necessary? 5:19 - Financial Commandment 1 8:42 - Financial Commandment 2 12:28 - Financial Commandment 3 15:35 - Financial Commandment 4 18:47 - Financial Commandment 5 21:39 - Summarizing these commandments.