Listen Now

In the complex world of retirement planning, there are countless pitfalls one could fall into. In this episode, we've distilled it down to what we believe are the top 5 mistakes to watch out for. Avoiding these crucial missteps can have a significant impact on the success of your retirement plan. So, join us as we delve into these key issues and learn how to navigate them effectively when it's your turn to plan for retirement. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:33 - Main Topic: The 5 Biggest Money Mistakes In Retirement Planning  2:00 - Ignoring Tax Implications 5:01 - Starting Social Security Too Early 6:34 - Ignoring Long-Term Care Costs 8:24 - Update Your Plan 9:19 - Poor Communication Between Spouses 13:22 - Mailbag: Bill Is Concerned About Bank Investments 17:54 - New Long Term Care Product

Are you aware that not all retirement accounts are created equal? It's crucial to understand the purpose and advantages of each type of account to make the best choice for your future. In this episode, we'll delve into the different types of retirement accounts, including 401(k)s, IRAs, Roths, and several other examples. We’ll help you weigh the pros and cons of each and give you insights into the purposes they serve so that you can make an informed decision. Join us and discover why understanding the purpose of these accounts is essential for securing a comfortable retirement. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:30 - Main Topic: Retirement Savings Basics 2:10 - 401(k)s, 403(b)s, & 457 Plans 3:17 - Pros Of Traditional Accounts 5:32 - IRAs 7:22 - Simple IRAs 8:16 - HSAs & FSAs 11:35 - Annuities, CDs, & Dividend Stocks  12:35 - How Do You Choose Which Account Is Right For You? 14:42 - Mailbag: Claire Asks If She Should Push Her Retirement Date Back

Are you preparing for retirement but feeling confident that you have covered all the expenses? Well, think again... It turns out that many retirees overlook some crucial expenses that can leave them financially vulnerable. In this episode, we explore the retirement expenses that most people tend to forget, including skyrocketing medical bills, unexpected travel costs, taxes, and much more. We'll discuss practical tips and strategies to help you plan for these expenses and ensure a secure and comfortable retirement. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:39 - Main Topic: Retirement Expenses For Which You Forgot To Plan 1:57 - Medical Expenses 4:50 - Unexpected Travel 6:31 - Taxes 8:20 - Housing Maintenance 9:48 - Inflation 13:26 - Mailbag: Jackson Asks How To Handle Fear Of The Market 16:05 - Upcoming Online Workshop

A million dollars is a goal that many people strive to earn for their retirement nest egg, but how far can that lump sum actually carry you? Today we will be looking at an article that breaks down how far a million dollars go in various states. CNBC Article: https://www.cnbc.com/2022/12/17/states-where-1-million-dollars-retirement-savings-runs-out-fastest.html Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:34 - Main Topic: How Far Does A Million Bucks Go 1:34 - Most Expensive States 3:57 - Surprising Finds 8:38 - Why You Need To Plan 11:09 - Mailbag: Martha Asks About RMDs 16:45 - New Long Term Care Solution

Another year is upon us and it’s a great time to ask yourself 10 questions to assess how ready you are for retirement to kick off 2023. If you’re retiring this year, it’s essential to have some concrete answers to these questions. If you’re still a few years from the milestone, tune in so you can start thinking about these critical conversations. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:09 - Main Topic: Retirement Checklist 2:26 - How Much Monthly Income You Need In Retirement 4:49 - Ideal Time To Take Social Security 6:19 - Longevity Risk 8:22 - Market Volatility 9:30 - Inflation 10:48 - Tax Increases 13:37 - Healthcare Costs 14:45 - Legacy 15:57 - Current Investments 17:34 - What Do You Want Retirement To Look Like? 19:03 - Mailbag: Richards Asks If A 529 Plan Is The Best Vehicle For College Savings 22:16 - Upcoming Long Term Care Workshop

As we approach the end of the year, saving money on taxes becomes a bigger focus for many people. But let’s broaden the scope out for this particular episode and focus on some of the most common retirement planning questions about taxes. We’ll talk about mistakes to avoid and how a proper plan can make a significant difference in someone’s tax savings. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:45 - Main Topic: Most Common Retirement Planning Questions About Taxes 1:51 - Am I Going To Have Deductions In Retirement? 4:09 - Being In A Lower Tax Bracket In Retirement 5:26 - Are All Of My Retirement Accounts Taxed The Same? 7:15 - Bad Tax Mistake 9:20 - Tax Free Retirement 11:11 - Moving To A No Tax Income State 13:24 - Tax Planning Strategy Story 15:31 - Mailbag: Wendy Asks About The Roth Option For Her 401(k) 17:01 - Upcoming Online Workshops

Too many folks misunderstand bonds, how they work, and what role they play in a proper financial plan. We’ll address some of those bond related issues on today’s show. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:41 - Main Topic: How Bonds Work 1:39 - Basics Of Bonds 2:22 - Individual Bond Vs Bond Fund 6:57- Target Date Funds 7:42 - Should You Move To Bonds For Safety? 9:06 - Mailbag: Kevin Asks About Company Stock 11:41 - Upcoming Online Workshops

It’s been said that “the sales brochure giveth and the fine print taketh away.” On this episode, we’ll talk about some of the things we hear from people when they don’t pay enough attention to the fine print. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:38 - Main Topic: Fine Print 4:03 - Increase On Long Term Care Insurance 5:42 - High Fees On Annuity 7:03 - Mutual Fund Performance 8:40 - Life Insurance Increase 10:23 - REITs 13:57 - Mailbag: Elizabeth Asks What To Do With Her Inheritance Money

There are plenty of decisions that you’ll make in the retirement planning process that can’t be undone, so you want to make sure that you make the right call. On this episode, we’ll explain why these decisions are so important and can’t be undone. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:35 - Main Topic: Irreversible Financial Decisions 1:29 - Social Security 4:30 - Spousal Benefits For A Pension 6:01 - Getting Life Insurance 8:59 - Choosing A Retirement Date 10:57 - Mailbag: Grace Asks About Keeping Finances Separate In A Marriage 14:06 - Upcoming Webinar

There are many things that we know we’ll have to deal with in retirement, we just don’t know how to predict when or to what degree. How do you construct a plan that deals with the unpredictability of these different factors? Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:50 - Webinar 2:21 - Main Topic: Planning For Retirement’s Uncertainties 2:47 - Be Flexible 4:14 - Longevity 5:32 - Interest Rates Going Up 7:18 - Future Tax Rates 10:52 - How Do We Plan For These Items? 12:26 - Social Security 15:37 - Stock Market Returns 17:30 - Inflation 22:27 - Mailbag: Jim Asks About Where He Can Save Money For Retirement

Being a good advisor isn’t about winning a popularity contest or just saying the same things that everyone else in the industry says. It’s about giving the best advice that you can for each individual situation. On today’s show, we’re going to peel back the curtain to discuss some areas where a good financial advisor’s opinions might go against the grain with mainstream ideas in the industry. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:43 - Webinar 2:08 - Main Topic: Against The Grain 4:11 - Appropriate Amount Of Risk 6:00 - Appropriate Use Of Life Insurance 8:09 - How To Handle Debt 9:27 - Paying Off The House 11:11 - Annuities 12:25 - Mutual Funds 14:13 - How Much Cash Should You Have? 16:17 - Mailbag: Carrie Asks If It’s Okay To Use Commissions For Her Retirement Savings

Finding yourself between jobs can be frustrating—whether you were fired, laid off, or just had to step away of your own choosing. But it can also present some opportunities. Let’s discuss some of the challenges and opportunities that you need to consider if you’re between jobs. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  0:33 - Main Topic: Financial Planning Considerations When You’re In Between Jobs 3:00 - Career Change 4:07 - Self Employment 6:37 - Health Insurance 9:00 - Rolling Over Your 401(k) 10:34 - Severance Package 14:04 - Taxes 16:48 - Mailbag: Rita Asks If She Needs A Financial Advisor

Going through a divorce at any age is difficult, but doing it near or in retirement adds all sorts of additional complications. On this episode, we’ll talk about some of the financial mistakes we see people make in the midst of a divorce. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:41 - Being a certified divorce planner 2:37 - Choosing the house as a safety blanket 5:37 - The tax implications of retirement funds 7:28 - Qualified domestic relations order  11:11 - Going to a single tax status  13:56 - Mailbag: Should I load up on stocks? 18:48 - Join us at future webinars!

In some ways, retirement planning was easier for past generations. Let’s explore how a good financial advisor helps people overcome the additional challenges of today. Our parents and grandparents may not have had to face these things, so just relying on the experiences of family members might not be enough to help us achieve our own financial success. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:07 - Main Topic: Retirement Planning Ain’t What It Used To Be 2:00 - Pensions 5:30 - Living Longer 8:54 - Interest Rates 11:49 - Too Much Information 14:45 - Mailbag: Marty Asks When He Should Get Back Into The Market 18:49 - Upcoming Workshops

On this episode, we’ll try to pick sides of some important financial debates. From bonds to life insurance, credit card debt to starting Social Security, we’ll propose several different topics to see which sides of the debates you and your advisor should probably fall on. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:09 - Main Topic: Important Financial Decisions 1:46 - Paying Off The House 6:01 - Life Insurance 8:19 - Deferring Taxes 11:11 - Credit Cards 13:18 - Start Social Security As Soon As Possible 15:56 - Mailbag: Buddy Asks How To Fill Medicare Time Gap 17:49 - Upcoming Workshops

Student loan forgiveness is a hot topic of discussion right now. Many people fear the cost of something like this and the lessons it will teach the younger generation, while others argue the cost of higher education is exorbitant and we need to extend help for those who have a lot of debt. There are both pros and cons to each side that we will be discussing on today's show. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  2:00 - Main Topic: Potential Student Loan Forgiveness 3;19 - Lessons Learned 7:37 - Boost In GDP 9:12 - Getting A Plan 11:11 - Knee Jerk Reactions 13:48 - Mailbag: Janice Asks About Finding The Right Advisor 17:36 - Workshops & Webinars

Healthcare can be one of the biggest expenses in retirement and it keeps steadily increasing. We will look at some statistics and numbers as it relates to paying for healthcare and how to plan for these costs. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  2:23 - Main Topic: The Rise Of Healthcare Costs 4:17 - Medicare Premiums 6:10 - Early Retirement 8:06 - Social Security Percentage 9:04 - How To Combat Rising Costs 13:05 - Mailbag: Ross Asks About Tax Implications When Selling An Inherited House

Sure, life insurance is one of the more boring topics to cover on a podcast. And a lot of what you hear is going to warn you why you should NOT get various types of life insurance. But our goal on this episode is to focus on the positive and analyze the reasons why you should get life insurance, or at least consider it. Many people think that once the kids are out of the house, you don’t need insurance anymore. But there are some other reasons why life insurance can be a useful part of your retirement plan. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:32 - Main Topic: Why You Should Consider Life Insurance 2:54 - Income Replacement 4:37 - Tax-Free Income 8:40 - Long Term Care Coverage 10:05 - Second Topic: American Retirement Statistics 10:52 - Retirement Age & Income 11:57 - Life Expectancy 14:12 Long Term Care 18:23 - Mailbag: Catherine Asks For Advice On Investing A Lump Sum Of Money

There are some important terms you’re going to come across as you prepare for retirement. Having a basic understanding of these will help you achieve financial success, so we’ll cover what they mean and what you should know on today’s episode. And don’t worry. We won’t go quite so far down the rabbit hole where we expect you to be able to explain how a company’s P/E ratio meshes with it’s Alpha and Beta ratings to determine how much stock you should buy. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:24 - Main Topic: Financial Jargon 2:00 - Fiduciary 3:50 - Volatility 5:29 - Risk Tolerance 6:27 - Dollar Cost Averaging 8:26 - Asset Allocation 10:22 - Second Topic: Common Housing Questions 10:50 - Does It Make Sense To Pay Off The House? 12:22 - Signing It Over To A Family Member 15:17 - Reverse Mortgage 17:08 - Mailbag: Tracy Asks What To Do If You’re Too Scared To Put A Plan Together

It does seem like anyone can call themselves a financial advisor these days. So how can you sort through the different levels of qualification in the industry? On this episode, we’ll try to explain some of the most common designations you’ll encounter on your financial planning journey. Contact: Phone Number: 480-513-1830 Website: https://pelletoncapital.com/ Show Notes:  1:18 - Main Topic: Financial Jargon 2:04 - IAR & RIA 4:28 - Different Licenses 8:23 - College Degree 10:51 - Mailbag: Doug Asks How 401(k) Rollovers Work 13:57 - What’s Buggin’ Charles?