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There has been a lot of misinformation regarding and uncertainty caused by the recent bank failures. You may have concerns about whether your money is at risk whether at a bank or at custodians such as Charles Schwab, Fidelity, Pershing, or TD Ameritrade.    Hear Kevin Kroskey, CFP®, MBA give a summary of what happened at Silicon Valley Bank and explain why your bank account should be thought of as a loan to the bank (because it is!). Conversely, he'll detail key investor protections you benefit from by not having your account a general liability of a bank but a segregated account at a custodian. He'll go further and explain how mutual funds and ETFs held in your investment accounts allow additional safeguards and segregation of your assets.   You'll learn about coverage you may have through the Securities Investor Protection Corporation (SIPC), excess SIPC coverage custodians may have to protect affluent investors, and, as an example of the safeguards, what happened to investors' segregated accounts held at Lehman Brother's bankruptcy during the GFC.    Here's some of what you'll learn in this episode:  So much misinformation around the banking collapse right now. (3:17) The details of what happened and what went wrong. (8:30) Why were investors caught off guard by the risk in commercial banking? (18:03) Some of the differences in the way different institutions manage your money. (28:11) Kevin's opinion on what he thinks could happen moving forward. (36:15)   Have questions?   If you’re ready to explore a relationship and gain more clarity and confidence around your retirement, taxes, and investments use this link to schedule a free 15-minute call with one of our experienced and credentialed professionals.

Getting to the point where you finally decide to retire is one thing, but trying to ride off into the sunset can be an exceptionally tall task. Hear Tyler Emrick, CFA®, CFP®, talk through his five must-do items to help you feel confident about cutting the paycheck cord.      Here are the five things we'll discuss on this episode: Have a non-financial retirement plan. (3:27) Visualize and project. (8:44) Start measuring. (11:23) Create your distribution plan (18:27) Find an expert to help (23:09)   RELATED CONTENT:  Your Hierarchy of Retirement Needs - https://www.truewealthdesign.com/ep-76-your-hierarchy-of-retirement-needs/   Have questions? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals. http://bit.ly/calltruewealth

Coming off a year with unprecedented interest rate hikes, everywhere you turn there is an advertisement for yields on CDs or other types of savings accounts. Clients are asking whether they should consider using these products, and if so, to what extent.    Hear Tyler Emrick, CFA®, CFP® discuss pros, cons, and alternative solutions and, more importantly, how you should think about the role cash has in your broader financial, retirement, and investment planning.    Here's some of what you'll learn in this episode:  What economic trends are we seeing in recent months? (1:52) What are some alternative investments to consider? (6:58) A story about someone we worked with who had much more cash than they realized. (10:38) The cash discussion goes well beyond just an emergency fund. (16:08)   Have questions? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals. http://bit.ly/calltruewealth

Unemployment numbers are near historic lows, but for some white-collar professionals, that does not tell the whole story.  Many are rightfully concerned their job is at risk, potentially harming a retirement plan that would otherwise be on track.    Listen as Tyler Emrick, CFA®, CFP®, talks through what industries are getting hit the hardest and what you can do now to help protect your retirement in the face of job insecurity.   Here's some of what you'll learn in this episode:  What we're seeing in the workforce right now. (0:52) Studies show that people often don't work as long as they had planned. (4:17) What are some of the signs that financial trouble might be coming for your employer? (6:17) What is offered in an early retirement package? (10:11) What should you consider if you get caught up in a round of layoffs? (15:11)   Check out our podcast on Pension Lump Sums: https://www.truewealthdesign.com/ep-106-pension-lump-sums-you-may-need-to-act-now-in-2022/      Have questions?   Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals. http://bit.ly/calltruewealth

2022 was a tough year for stock and bond market returns. How are retirees adapting to the falling market? What decisions are they making now to set themselves up for success in the future?    Listen as Tyler Emrick, CFP, CFA, shares his clients' stories to uncover their questions and how they plan to navigate the challenges posed by the current market and economic landscape.     Here's some of what you'll learn in this episode:  Some of the numbers that show just how bad 2022 was for investors. (2:54) A lot of families are using the flexibility built into their retirement plan. (5:47) Considering taking advantage of a Roth conversion. (10:28) We've started taking a closer look at retirees' spending to see how it's changed. (13:16)  What we're looking at inside a client's portfolio. (20:24)   Have questions?   Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals. http://bit.ly/calltruewealth

The much anticipated Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0 recently passed Congress as part of the Consolidated Appropriations Act of 2023. While no single change made in this act will have the same level of effect on your retirement planning as some changes made in the original SECURE Act, passed in December 2019, there are far more provisions in this act that may impact your planning.    Hear Tyler Emrick, CFP, CFA discuss some of the more impactful changes and how they will affect your planning and retirement.     Here's some of what you'll learn in this episode: What is the SECURE Act and why another update? (1:23)  Big changes to RMDs including age being pushed back again.  (3:22)  The Roth changes that you can start planning for. (8:29) Catch-up contributions for high-income earners will be required to be Roth. (11:11) A 529 to Roth transfer will be allowed after 15 years. How can you qualify for that? (13:47) Additional contribution increases coming in 2024 and 2025. (17:10) A few other changes that we think you should know about. (20:18)   Have questions?   Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals. http://bit.ly/calltruewealth

Whether you are trying to understand better how Social Security works or looking to optimize your filing strategy, this episode is for you.    Hear Tyler discuss some of the less talked about factors impacting your Social Security claiming strategy. Listen as he talks through his clients' most common questions and concerns. All to help you better understand and maximize your benefits.    Here's some of what you'll learn on this episode:  How Social Security as part of income planning has changed through the years. (3:13) How we help clients identify Social Security opportunities they have. (7:29) The Cost Of Living Adjustment (COLA) coming in 2023. (16:05) How we help clients determine their claiming strategy. (20:34) Where does Social Security fit into the overall retirement planning process. (30:14)   Have questions?   Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals. http://bit.ly/calltruewealth  

Most Americans donate to charity yearly, and many have distinct goals in their retirement plan to meet annual charitable donations. Most also give cash … the tax-efficient way to give. Hear Kevin and Tyler discuss ways to tax-optimize your charitable giving. Whether through bunching your deductions or using donations of appreciated stock, each coupled with a donor-advised fund can help you gain a bigger tax break and meet your charitable goals in the Retire Smarter way.   Here's some of what you'll learn in this episode: Why we want to be more thoughtful of the why behind charitable giving. (4:20) Details on the current standard tax deduction amounts. (11:25) How you can utilize the bunching strategy to maximize deductions. (14:17) An example of how clients typically approach giving. (17:11)  Assets you might consider giving instead of cash. (20:35)   Have questions? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth’s CFP® Professionals. http://bit.ly/calltruewealth

It's usually a life event -- retirement, Social Security age, business sale, death or inheritance -- that tends to drive people to seek financial advice. Those that tend to benefit the most from advice are those whose time is valuable and where the cost of a mistake is high (and potentially irrevocable.)   Hear Kevin and Tyler talk about recent meetings they've had with people seeking help. Learn why the problem that brought them in often isn't the real problem. Rather, it's the "unknown unknowns" or the "things they think they know but just ain't so" that are more so the problem to avoid or opportunity to capitalize upon. This is an episode that many listeners will be able to relate to and cause 'aha moments.'   Here's some of what you'll learn on this episode:  Some background on a recent growth award we were recently honored with. (1:15) An example of how we help families identify and address their estate planning needs. (6:54) Is a Roth Conversion right for you? (14:47) The ways we typically provide the most help to people. (19:35) Analogies for why it's important to have the right information. (24:03)   HAVE QUESTIONS? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth’s credentialed and experienced professionals or visit http://bit.ly/calltruewealth.   Or listen to episode 45 to learn about True Wealth’s Retire Smarter Solution™ that aligns your money to your goals, overlaid with tax-smart strategies, so you can retire with confidence.

It's that time of year again ... the fourth quarter. Before you get enthralled with the holiday season, it's time to look back over this year and towards the next. Does your lifestyle spending match the goals you have in your plan or do your goals need to be modified to reflect reality?   Are your investments well aligned to meet your spending goals or are you exposing yourself to unnecessary lifestyle risk?   What tax moves should you make before the end of the year? And what moves should you plan for next year?   Listen to Kevin and Tyler describe the process True Wealth goes through to make sure how these important details are handled to help you stay on your retirement track and pay no more than your fair share in tax.   Here's some of what you'll learn on this episode:  Some background on the three core items we need to be checking as the year comes to a close. (2:19) The changes from the past year and the recent laws that impact what we're doing this year. (6:30) The income targeting we do and some examples of that. (11:33) How inflation and the cost of living adjustments factor into end-year planning. (13:50) Why you have to a proactive approach to your financial plan. (18:23)   HAVE QUESTIONS? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth’s credentialed and experienced professionals or visit http://bit.ly/calltruewealth.   Or listen to episode 45 to learn about True Wealth’s Retire Smarter Solution™ that aligns your money to your goals, overlaid with tax-smart strategies, so you can retire with confidence.

Are you looking for ways to accelerate your savings right before retirement? How do you determine whether to save Roth or Pretax? What type of retirement account should you be using? In short, how can you use the myriad tax-advantaged accounts to optimize your retirement savings and tax advantages?   All these questions and more are answered as Tyler walks you through how IRA, Roth, and 401K plans work and how you can best use them to maximize your retirement savings. Hear him tell a client story to illustrate some of the lesser-known retirement account options available. Small business owners and self-employed individuals will want to pay special attention as this self-employed business owner saved over $200K in pretax savings this year, getting thousands in tax deductions and accelerating their savings as they approach retirement.    Here's some of what you'll learn on this episode:  High-level view of how Tyler looks at the structure of retirement plans. (4:43) The bucket that most people utilize in their retirement plan. (7:25) Where are the most under-utilized retirement plans. (12:16) A story about a client who was looking for tax strategies to maximize benefits. (15:01) How can individuals benefit? (23:52)   HAVE QUESTIONS? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth’s credentialed and experienced professionals or visit http://bit.ly/calltruewealth.   Or listen to episode 45 to learn about True Wealth’s Retire Smarter Solution™ that aligns your money to your goals, overlaid with tax-smart strategies, so you can retire with confidence.

History shows that owning companies (buying stocks) provides far superior returns vs. lending to companies (buying bonds). While most know this, most would be surprised by how many stocks lose money over time. A JP Morgan report showed this number to be 40% over a broad period from 1980-2020. And 66% of stocks failed to keep up with a broad benchmark.    Hear Kevin dive into these details, portfolio implications, and touch on key characteristics of risk -- not just how much your investments move up and down (volatility) but making sure you have the dollars you need when you need them (terminal wealth dispersion). You'll be surprised by what you learn and likely question whether you are truly diversified.    After all, luck or any low-probability investment strategy -- pursued consciously or not -- is not rational for your retirement dollars.     Here's some of what you'll learn on this episode:  The investment part of retirement isn't solely about the traditional motivations. (5:32) The good part of having unique risks in your portfolio. (10:12) What studies have shown us about market returns. (19:41) A look at how the professionals do with picking stocks. (24:19) HAVE QUESTIONS? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth’s credentialed and experienced professionals or visit http://bit.ly/calltruewealth.   Or listen to episode 45 to learn about True Wealth’s Retire Smarter Solution™ that aligns your money to your goals, overlaid with tax-smart strategies, so you can retire with confidence.

"It's the End of the World as We Know It (And I Feel Fine)" is a 1987 song by American rock band R.E.M.. The title may sound pessimistic or perhaps a bit delusional. Yet, hear Kevin make the analogy as to why this song -- one of his favorites -- is a perfect theme song for capitalism, creative destruction, and rational optimism about innovation and future stock returns.    Here's a little of what you'll learn on this episode: Why bad news in the headlines is nothing new. (1:39) What a consumer sentiment survey tells us. (4:12) Why it might actually be a good time to invest when you feel very pessimistic. (10:08) A book that still sticks with Kevin a decade later and the lessons learned. (13:44) What is creative destruction and how does it apply here? (17:23)   HAVE QUESTIONS? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth’s credentialed and experienced professionals or visit http://bit.ly/calltruewealth.   Or listen to episode 45 to learn about True Wealth’s Retire Smarter Solution™ that aligns your money to your goals, overlaid with tax-smart strategies, so you can retire with confidence.

A $50+ million investment fraud is unwinding in northeast Ohio with a former high school basketball coach and self-proclaimed single-family real estate expert being accused of bilking investors in a ponzi scheme. You probably think, "This can't happen to me." The same can likely be said of those in the community that now have fallen victim to fraud at the hands of someone they trusted.   Hear Kevin discuss red flags and common scams fraudsters often use. Affinity fraud, guaranteed or high returns, and unregistered products are often well disguised into good-sounding strategies to gain your trust and dollars.   And be sure to pay attention to the end, when Kevin talks about public vs. private investments and the benefits of using a qualified custodian -- like Schwab, Fidelity, Pershing, and TD Ameritrade -- for the safe keeping of your assets.   Key topics on this episode: 3:19 - Local story that sparked this discussion 7:58 - Affinity fraud 9:58 - Sale of an unregistered security 13:58 - Private hard money lender 16:11 - Why this local Ponzi collapsed 20:48 - Why a custodian matters 22:57 - Be aware of private investments 27:39 - Any protection for this?     For more, visit us online: http://truewealthdesign.com

Pension lump sums will be much LOWER in 2023 than 2022. Listen to Kevin give a brief intro on what is going on and then cut into a replay of episode 62, recorded in December 2020 on the same topic.  Learn timing considerations on how to optimize your pension benefits by understanding the key variables -- interest rates and mortality -- that determine your lump sum. Company pension plans specifically discussed include Akron Children's Hospital, Bridgestone, FirstEnergy, Goodyear, Kaiser, Mercy Health, and Rockwell Automation. Need help with your specific lump sum option?    If you are eligible for a lump sum, don't delay. To give proper advice, your pension decision must be made within the context of your overall financial life plan, and this takes some time to thoughtfully put together. Call 855-TWD-PLAN (855-893-7526) or visit https://www.truewealthdesign.com/contact to get expert help.   Whether you have a pension from your company or not, you'll benefit from this episode. Why? Anyone can invest money with an insurance company and receive a lifetime income in the form of annuity payments. So these considerations are universal in crafting your retirement income plan. Want more information on pension claiming strategies? Listen to Episode 38 here: https://www.truewealthdesign.com/ep-38-pension-lump-sum-or-monthly-payment    Key topics on this episode:  0:38 - Why we're pulling this show from the archives 8:53 - What you need to know about lump sums 14:22 - Why this matters 15:58 - Segment Rates 21:43 - What To Expect In The Future 26:02 - Spreadsheet Story 30:28 - Closing Thoughts

Hear the story of Dr. Smith and how his retirement concerns are likely similar to many of your own. How do I select a good advisor? What to do with my employer retirement plans? How do I transition my healthcare? Hear all of this plus estate planning issues and Dr. Smith's reflections on his retirement transition in this jam-packed episode.    Key topics on this episode: 1:14 - Background on our conversation today 5:14 - How Dr. Smith found us 10:34 - Why Dr. Smith's meeting was different 11:51 - The earlier the better  12:43 - What was important to him 16:22 - Reactive vs proactive 18:11 - Two things that everyone cares about 21:56 - Starting the customization process 23:40 - Estate planning conversation 27:39 - How the relationship changes 29:27 - Where are we now with Dr. Smith?     Learn more about our Retire Smarter Solution™: https://www.truewealthdesign.com/ep-45-retire-smarter-solution/   Have a financial question? Contact us at https://www.truewealthdesign.com/contact/  

Kudos! You went through a retirement planning process or completed an online calculator and have the results. Now, what the heck do they mean exactly?    Hear Kevin peel back the onion on understanding your retirement plan results. What are Monte Carlo simulations? What assumptions belie them? What shortcomings does this type of analysis have? How can this powerful tool be thoughtfully used to help ensure you stay on track?   Key points on this episode:    2:16 - What we discuss with clients 4:43 - How we display results in our dashboard 9:07 - Safety margin 17:25 - Hierarchy of expenses 19:51 - No simulations are perfect     Learn more about our Retire Smarter Solution™: https://www.truewealthdesign.com/ep-45-retire-smarter-solution/   Have a financial question? Contact us at https://www.truewealthdesign.com/contact/

The bear is roaring and eating away at stock and bond returns. What's an investor to do? Hear Kevin Kroskey, CFP®, MBA  and Tyler Emrick , CFA®, CFP®  discuss common investment questions clients are prospective clients are asking:  Should I decrease risk? Should I increase cash? Is cash better to own than bonds? Should I consider a CD or fixed annuity? Is it okay to make a strategy change or hire an advisor when markets are down?   Key points on this episode:  1:45 - Should we sell out at this point? 5:39 - Preparation is so important 8:47 - 'Coupon Kroskey' 9:58 - Cash vs Bonds 16:37 - Fixed interest rate products 21:27 - Bad time to move money? 26:49 - Other items to have on your list   Learn more about our Retire Smarter Solution™: https://www.truewealthdesign.com/ep-45-retire-smarter-solution/   Have a financial question? Contact us at https://www.truewealthdesign.com/contact/

Dr. David Blanchett is Head of Retirement Research formerly at Morningstar and currently at Prudential’s asset management arm PGIM. He is also an adjunct professor at The American College of Financial Services. David has been a voracious and accomplished researcher, being published in a variety of peer-reviewed articles, and receiving many ‘best paper’ awards. Today he conducts research primarily in the areas of financial planning, tax planning, annuities, and retirement.   Listen to Kevin and David do a deep dive into key assumptions made in your retirement planning – investment returns, spending assumptions, longevity, and inflation. Learn from David’s original research on retirement spending and how it is likely to decline as you age, including the positive implications it has on your planning. (Hint: you may be able to retire earlier than you think.)  Be sure to pay attention to the end where David and Kevin discuss guaranteed income, cryptocurrency, and empirical studies on quantifying the benefits of working with a trustworthy and competent advisor.  A big "thank you" to Dr. Blanchett for sharing his research and wisdom.  To read David’s research, visit https://www.davidmblanchett.com/research  Learn more about our Retire Smarter Solution™: https://www.truewealthdesign.com/ep-45-retire-smarter-solution/   Have a financial question? Contact us at https://www.truewealthdesign.com/contact/   Key topics on this episode:  1:05 - Using the spending data to build a financial plan 2:47 - Success rate as an outcome metric 5:27 - Measuring your wants and needs 9:52 - Building guaranteed income 14:16 - Annuities 16:53 - Comparing annuities 20:21 - His recent paper on cryptocurrency 22:40 - Recent/current projects 24:21 - How an advisor adds value

Dr. David Blanchett is Head of Retirement Research formerly at Morningstar and currently at Prudential’s asset management arm PGIM. He is also an adjunct professor at The American College of Financial Services. David has been a voracious and accomplished researcher, being published in a variety of peer-reviewed articles, and receiving many ‘best paper’ awards. Today he conducts research primarily in the areas of financial planning, tax planning, annuities, and retirement.   Listen to Kevin and David do a deep dive into key assumptions made in your retirement planning – investment returns, spending assumptions, longevity, and inflation. Learn from David’s original research on retirement spending and how it is likely to decline as you age, including the positive implications it has on your planning. (Hint: you may be able to retire earlier than you think.)  Be sure to pay attention to the end where David and Kevin discuss guaranteed income, cryptocurrency, and empirical studies on quantifying the benefits of working with a trustworthy and competent advisor.  A big "thank you" to Dr. Blanchett for sharing his research and wisdom.  To read David’s research, visit https://www.davidmblanchett.com/research  Learn more about our Retire Smarter Solution™: https://www.truewealthdesign.com/ep-45-retire-smarter-solution/   Have a financial question? Contact us at https://www.truewealthdesign.com/contact/   Key topics in this episode: 1:11 - Welcome in Dr. David Blanchett 2:15 - Reviewing his historical papers 3:39 - Important retirement variables 5:26 - What are reasonable expected returns? 9:44 - Building blocks that play into forming expectations 13:50 - Spending patterns 16:24 - Spending data and categories 21:05 - Behavioral aspects of spending