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Making Cents of Retirement
10 minutes | Jan 11, 2022
How Inflation Impacts Fixed Income
Today, Vince, Mike and Jag are here to talk about the dreaded "I word" - inflation. Specifically, how does inflation impact the fixed income that retirees are so reliant on?What is inflationHow much it can impact you?An Inflation Calculator that shows some scary numbersFor more help planning your financial future, download our free retirement guide here: https://cfgretirement.com/retirementguideAdditional Resources:CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number to Call: 952-657-7470Vince email: email@example.com
18 minutes | Jan 4, 2022
The Old World of Wall Street vs New
Today, Vince and Jag are joined by CFG Retirement Group's Michael Stendahl, financial advisor and retirement planner. Mike has decades of experience on trading floors and brings with him the perspective of how the trading world has changed. Specifically, we break down 5 ways in which Old Wall Street differs from New Wall Street: Fees (trade Commissions) Investment Options Big vs Independent Commissions vs fee based Investment managers vs financial planners For more help planning your financial future, download our free retirement guide here: https://cfgretirement.com/retirementguide Additional Resources: CFG Retirement Website: https://cfgretirement.com/ CFG Retirement Phone Number to Call: 952-657-7470 Vince email: firstname.lastname@example.org
13 minutes | Dec 28, 2021
Understanding Risk vs Return
Typically, investors want to maximize their returns, but minimize their risk. And while that "unicorn" investment of high returns doesn't necessarily exist, today, Vince Oldre of CFG Retirement Group goes through some strategies to get the best possible results.Standard deviation is important - it's the amount that your investments can vary in volatility. "How big are the bounces?" Vince explains how to factor standard deviation in to your investments.There are many tools on the Internet, including Morningstar and Yahoo Finance. However, there's a catch to looking at 10-year returns, now, in 2021. Vince and Jag talk about what that is.Additional Resources:CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number to Call: 952-657-7470CFG Retirement TEXT line: 612-448-3243Vince email: email@example.com
12 minutes | Dec 21, 2021
Is the 4% Rule Outdated?
Since the 1980s, the 4% Rule stated that you could safely withdraw 4% of your portfolio every year, and have a successful 30 year retirement. But much has changed in the last TWO years, never mind the last 40.Today, Vince Oldre of CFG Retirement looks at this rule. Morningstar thinks the 4% rule should now be more like 3.3%, a significant difference in annual income. But Vince digs a little deeper. The old rule was based on a 60-40 stock bond mix. As we discussed in a previous episode, that model is also outdated. We go under the hood to talk about how you can calibrate different sources of income to get to a withdrawal rate that will work for you in retirement.Additional Resources:CNBC article on the 4% rule: https://www.cnbc.com/2021/11/11/the-4percent-rule-a-popular-retirement-income-strategy-may-be-outdated.htmlCFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number to Call: 952-657-7470CFG Retirement TEXT line: 612-448-3243Vince email: firstname.lastname@example.org
15 minutes | Dec 14, 2021
End of Year Checklist
The end of the year is a great time to take stock of all things in life. This is especially true for your personal finances. Here are 9 items for your end of the year checklist. Jag and Vince Oldre from CFG Retirement Group break them down in this week's episode.Review/Update Your BeneficiariesReview/Update Your Tax WithholdingReview Your Homeowners, Auto, and Other Insurance NeedsReview Your Portfolio and Diversify if NecessarySpend Those Flex Account Dollars Before They Are Gone!Check on Your Emergency SavingsContribute To 529 Plans and Other College FundsMake Charitable DonationsPlan For The FutureAdditional Resources:CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number to Call: 952-657-7470CFG Retirement TEXT line: 612-448-3243Vince email: email@example.com
16 minutes | Dec 7, 2021
Do You Need Life Insurance in Retirement?
Do you need life insurance in retirement? As with most questions, the answer is: it depends. Today, Vince and Jag break down the pros and cons of life insurance, including:Cons:Can be costly to continueMay not actually need itMay benefit the insurance agent more Pros: More tax efficient benefit to beneficiariesCan provide tax free distributions from the cash valueIt can be considered a safer assetCan provide long term care coverageAdditional Resources:CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number to Call: 952-657-7470CFG Retirement TEXT line: 612-448-3243Vince email: firstname.lastname@example.org
18 minutes | Nov 30, 2021
Should you rollover your 401k - Pros and Cons
With December here, you may have considered rolling over your 401k retirement plan. Today, Vince Oldre and Jag break down the pros and cons of doing it:Cons:You plan to retire early or lateProtection from lawsuitsFeesNot sure who to trustLimited OptionsPros:Better performing fundsMore OptionsWant alternatives to bondsWant more flexibility to withdrawalsWant better income strategiesWork with someone who has built a customized portfolio for youAdditional Resources:CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number to Call: 952-657-7470CFG Retirement TEXT line: 612-448-3243Vince email: email@example.com
15 minutes | Nov 23, 2021
10 Year-End Tax Tips for 2021
CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number: 952-657-7470With Thanksgiving almost here, it's hard to believe we are nearing the end of calendar year 2021. Today Vince Oldre of CFG Retirement Group highlights 10 things you should do before December 31st, to optimize your 2021 taxes. They are:Make 401(k), and HSA contributions.Schedule your RMD for 2021.Convert money from a traditional IRA to a Roth IRA.Contribute to a 529 Plan.Hold off on mutual fund purchases.Harvest your capital losses.Pick up capital gains if you're in a low tax bracket.Harvest losses on cryptocurrency.Donate cash to a charity.Meet with your tax advisor.More info: https://money.usnews.com/money/personal-finance/taxes/articles/10-year-end-tax-tips
12 minutes | Nov 16, 2021
Income Bucket Planning
CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number: 952-657-7470Vince Oldre email: firstname.lastname@example.orgWhen planning for your future, it's often helpful to think about three buckets for your money - Now, Soon, and Later. Today, Vince and Jag break down how to delegate your assets into these various buckets to optimize your financial future and retirement.Now Bucket:Emergency FundPlanned expenses next couple years: cars, weddings, home repairs, etcRetirement income (if about to retire)Soon Bucket:Money you can access penalty free in next few years if you need money beyond your now bucket, also protect against inflationLater Bucket:Long Term Growth and Legacy planning
15 minutes | Nov 9, 2021
New Tax Regulations
CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number: 952-657-7470Vince Oldre email: email@example.comThere are a number of proposed changes to tax law currently being debated in Congress. And while they parameters seem to change by the day, here are some key proposals that could impact your financial future. Vince Oldre of CFG Retirement and Jon Gay break them down into three categories: Retirement accounts, State and Local Taxes (SALT), and Estate Taxes.Retirement Accounts:New RMD rules may require distributions not just based on age, but by the total value of the accounts.Roth conversions, specifically "back door Roths" could become a thing of the past. State and Local Taxes:The amount of state and local taxes you can deduct from your federal return may increaseEstate Taxes:The 2017 Tax Cuts and Jobs Act is set to expire in 2026. This could affect the top tax bracket as well as the thresholds for estate taxes.The Pass Through Deduction of 20% for business owners
13 minutes | Nov 2, 2021
Your Social Security Money May Be Taxed
CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number: 952-657-7470Vince Oldre email: firstname.lastname@example.orgYou've worked hard for decades, and contributed to social security all along the way. That money should be tax-free when you collect it in retirement, right? Well, not always. Today, Vince Oldre from CFG Retirement Group explains the thresholds and scenarios that could have you paying taxes on your social security income.When calculating the percentage of your SSI income that will be taxed, the IRS will look at all of your taxable income- this can include Required Minimum Distributions, Pensions, and anything else. Vince tells the story of a client who thought he planned correctly, but the mistake he made. Also, keep this in mind. Non-taxable income, such as Roth IRAs, do not count toward this calculation. Vince explains.
15 minutes | Oct 26, 2021
How To Protect Yourself From Inflation
CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number: 952-657-7470Vince Oldre email: email@example.comInflation is a word that's been in the news a lot lately, and it can be a scary thing to consider your money being worth less than it used to be. This is especially true for retirees and pre-retirees who have are limited in their earning potential.The days of stashing your money in a savings account or under your mattress are gone - inflation will cause that money's value to drop. Today, Vince Oldre of CFG Retirement Group explains nine ways to protect yourself against inflation, and which are better ideas than others, including:GoldStocksREITS (Real Estate Investment Trusts -and which ones)CommoditiesStructured NotesETF's (Exchange Traded Funds)Treasury BondsForeign ExchangeCryptocurrency
13 minutes | Oct 12, 2021
How The Debt Ceiling Affects YOU
CFG Retirement Website: https://cfgretirement.com/CFG Retirement Phone Number: 952-657-7470The debt ceiling has been in the news a lot lately. And while it's easy to tune it out or gloss it over, it can have a real effect on your bottom line. Today, Vince Oldre from CFG Retirement Group breaks it down. This is not a political or partisan discussion - we are only talking about your money.When faced with the dilemma of the debt ceiling, one of two things can happen. Congress can increase the debt ceiling, risking higher inflation. Or they can default on the country's obligations, which can have really detrimental ramifications to our overall economy. In fact, it's never happened.There are a number of things you can do to protect your financial future. Bonds are likely at risk for inflation. Vince explains some bond alternatives we can look at, including structured notes, hedge equity portfolios, and fixed index annuities. We also touch on gold and silver and their potential as part of a diversified portfolio, but Vince warns against putting all of your eggs in one basket - even a golden one.Bottom line: The government will do what it does with the debt ceiling. You can't control that. But you can control what you do in your portfolio for your financial future.Additional Reading:https://finance.yahoo.com/news/what-trump-gets-right-about-the-debt-ceiling-battle-morning-brief-091204583.htmlhttps://finance.yahoo.com/news/happen-u-doesn-t-raise-090000204.html
13 minutes | Oct 12, 2021
Act Before the Tax Hammer Strikes
CFG Retirement Group Website and Phone Number: https://cfgretirement.com/ (952) 657-7470.Our complimentary tax guide can be found here: https://cfgretirement.com/taxguideVince Oldre of CFG Retirement is just back from a convention, where he heard Ed Slott speak. Ed is one of the country's thought leaders on retirement planning, and he says investors should act before the end of 2021 and a likely increase in taxes.Today, Vince and Jag break down some of the tools available to protect yourself against an increase in taxes. Conventional wisdom used to be that you should defer your taxes until retirement, when you'd likely be in a lower bracket. But with what the federal government has had to spend recently (and still could spend), there's a strong chance you could be in a higher tax bracket later.A great way to protect yourself against higher taxes in the future is through a Roth conversion. Any money you convert now will be tax free going forward, no matter where tax brackets land. Vince walks us through the numbers, and explains why he feels some of the arguments against Roth conversions simply don't hold water.We also talk about PayPal executive Peter Thiel. He took a $2,000 investment and turned it into $5 billion tax free. That's an extreme example, but something worth noting.With the recent debate in Congress over the debt ceiling (we recorded this on October 6th), taxes could very well be going up. We will talk about that in our next episode.
15 minutes | Sep 21, 2021
Is the 60-40 Model Outdated?
CFG Retirement Group Website and Phone Number: https://cfgretirement.com/ (952) 657-7470.For years, we've heard about the 60-40 portfolio model - that you should be invested 60% in stocks, and 40% in bonds. But in the four decades since that advice came out, much has changed. The stock market has risen and become more volatile, and bonds are not worth what they used to be.Note: For more on bond alternatives, check out our previous episode here. Have you heard the rule of 4%? The idea that you can withdraw 4% of your portfolio in each year of your retirement? Well even that rule came out of the 60-40 idea.Too often, clients come into Vince Oldre's office at CFG Retirement Group and have been told they have to use one of several pre-packaged, "cookie cutter" plans for their future. In today's episode, Vince talks about other ways to invest, including methods you can use to potentially increase your returns without incurring as much risk.Maybe, here in 2021, a 60-40 stock-bond mix might be more accurately looked at as 60% equities, and 40% fixed income. When you look at your portfolio through that lens, there are many more possibilities. Vince explains.For more information about your financial future, you can contact Vince or Mike at CFG Retirement Group.https://cfgretirement.com/Or Call (952) 657-7470.
13 minutes | Sep 21, 2021
CFG Retirement Group Website and Phone Number: https://cfgretirement.com/ (952) 657-7470.Bonds often have an inverse relationship to the stock market. That means with the market currently up, bonds are down. And with bonds looking less appealing, it may be time to look at bond alternatives for your portfolio.Today, Vince Oldre of CFG Retirement group breaks down some of these bond alternatives, including:CD'sFixed AnnuitiesStructured NotesHedged Equity Portfolios (Options)With advances in technology, many of these strategies are more accessible to the average investor than they were 20 years ago. But every investor's situation is different. For more information about your financial future, you can contact Vince or Mike at CFG Retirement Group.https://cfgretirement.com/Or Call (952) 657-7470.
13 minutes | Aug 18, 2021
All About Roth Conversions
Roth IRA conversions have been a hot topic in the financial media lately. With many analysts assuming that taxes are going to go up, more and more investors are asking about this strategy. Today, Vince Oldre from CFG Retirement Group breaks down Roth Conversions.What is a Roth conversion?Who can do a Roth conversion?What are some strategies around a Roth conversion?What are some factors to consider when deciding whether you should do a Roth conversion?Your main goal should be to be tax efficient -to pay the lowest tax rate possible. Vince explains why the timing of a Roth conversion can have major tax implications and why you need to be strategic when employing this stategy.If you need help with your financial future, reach out to Vince Oldre and the team at CFG Retirement Group.Website: https://cfgretirement.com/Or call: 952-657-7470
11 minutes | Jul 29, 2021
5 Crucial Questions About Your Investments
Today, Vince Oldre of CFG Retirement joins Jon Gay to go over the 5 crucial questions you need to ask yourself about your investments. We break each of these down:Are you seeing the results you want?Are your investments and returns easy to follow and understand?Are your interest rates satisfactory?Do you constantly worry about the money you've invested?Are your taxes on your investments what you thought they would be?If you need help with your financial future, reach out to Vince Oldre and the team at CFG Retirement Group.Website: https://cfgretirement.com/Or call: 952-657-7470
11 minutes | Jul 29, 2021
7 Interesting Facts About Roth IRAs
Today, Vince Oldre of CFG Retirement group joins Jon Gay to talk about Roth IRAs, specifically 7 things that you may not have known about!You can use a Roth IRA to buy a house.Not everyone can get a Roth IRA.Dividends are free from taxes.You can contribute this year and claim it on last year's return.Your Roth IRA can outlast you.Roth IRAs are inheritable.Your spouse can have a Roth IRA even if he or she doesn't work.If you need help with your financial future, reach out to Vince Oldre and the team at CFG Retirement Group.Website: https://cfgretirement.com/Or call: 952-657-7470
10 minutes | Jul 29, 2021
5 Costly Mistakes of Retirement
Today, Vince Oldre of CFG Retirement group joins Jon Gay to talk about 5 costly mistakes that folks often make in retirement, surrounding:Health Care ExpensesGreater SpendingSocial Security TaxesTax Deferred AccountsLoss of Income for Surviving SpouseIf you need help with your financial future, reach out to Vince Oldre and the team at CFG Retirement Group.Website: https://cfgretirement.com/Or call: 952-657-7470
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