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The goal for your money is to help you reach retirement and utilizing it correctly will acheive that. Before making any financial decisions, it’s important to understand the three different qualities of money and which investments best align with your goals.   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/investing/ep-32-understanding-the-3-qualities-of-money/1384/    What we discuss on this show:  2:03 – Financial literacy is on the menu today 2:53 – What are the 3 qualities of money? 3:37 – Can you achieve all three in one investment? 5:13 – Cash 5:57 – Stocks, bonds, and mutual funds 7:08 – Annuities 8:34 – Real Estate 10:05 – Diversifying your portfolio

We’re all ready to put an end to 2020 and turn the calendar to a new year, but first things first. Let’s look at the end of year planning conversations you should be having with your advisor before January 1.   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-31-end-of-year-financial-checklist/1374/    What we discuss on this show:  2:34 – Item 1: Should we max out contributions? 4:10 – Item 2: Reviewing CARES Act and RMDs 5:35 – Tax considerations for waiting on RMDs 6:51 – Item 3: Exploring Tax-Loss Harvesting 7:57 – Item 4: Charitable contributions 9:48 – Item 5: Purchases that would give you a tax credit 12:08 – Item 6: Roth Conversion Conversation 16:03 – Thanks for a great 2020

Retirement looks different for all of us but determining what kind of lifestyle you want to enjoy will help you plan. Let’s talk about the different types of lifestyles we see clients choose and what it means for building a proper plan.   Read more and get additional resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-30-what-is-your-retirement-lifestyle/1373/    What we discuss on this show:  2:10 – Two-home solution 4:46 – One solution a client has chosen 5:43 – Traveling the country by RV 8:45 – Front porch lifestyle 10:18 – The College Life 12:00 – The Florida Life 13:23 – Golf Life 15:08 – Follow your passion

Want to find out just how prepared you are for retirement? Here are five key questions that you need to be asking yourself. The answers will help determine just how ready you are to retire.   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-29-take-this-retirement-preparedness-quiz/1368/    What we discuss on this show:  1:58 – Election still being counted 2:59 – Do you know how much you have? 5:30 – Do you know how much you spend? 7:26 – Do you know how much risk you have in your portfolio? 10:25 – Do you know what you’re paying in fees?  12:22 – Do you know what your retirement income streams are going to look like?

Are you thinking about moving to a new state when you retire? Today we’ll look at a list of the top places people retire and discuss the common factors that go into make a decision like that. Plus, we’ll share the locations that many of our Minnesota clients have decided to live in retirement.   See the full list and get additional resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-28-best-places-to-retire/1362/    What we discuss on this show:  3:44 – Setting up today’s conversation 4:22 – Florida cities make up a lot of this list.  5:30 – Do a lot of your clients retire out of state?  6:48 – What’s the typical reason people retire somewhere else? 8:11 – What considerations go into this decision to move?  10:11 – How an advisor helps clients with this process. 12:19 – Does Dale have a dream destination? 14:05 – Work with an advisor to achieve these goals

With so many Baby Boomers heading into retirement every day, they are finding different challenges and concerns than their parents had to deal with. We work with many people in that generation and have heard many of these things first hand. Today we’ll talk about where the worries are and what they can do to be prepared for a long retirement.   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-27-retirement-concerns-for-baby-boomers/1350/    What we discuss on this show:  2:10 – How many Baby Boomer clients does Dale work with? 3:47 – Unique challenges Baby Boomers face 6:46 – What challenge are they consistently worried about? 10:04 – Working with folks to get a plan in place to determine when they can retire. 11:17 – Many of the mistakes are caused by lack of planning

The change from summer to fall always gets us talking about the change in weather so we thought we’d carry that conversation over to the podcast. Join us as we provide correlations between what we see in the weather with how we prepare our finances.   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-26-the-financial-forecast/1344/    What we discuss on this show:  2:35 – Tornadoes 5:03 – The 3 Investment Worlds 6:47 – The Jet Stream 8:42 – The Heat Index  11:10 – Black Ice 16:20 – How to prepare for your financial future.

There are plenty of financial planning strategies that have been passed down to each generation without losing effectiveness, but not everything can stand the test of time. Today we’ll identify five planning ideas that are either becoming obsolete or already hold little value anymore.   Read more and get additional financial planning resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-25-obsolete-retirement-planning-ideas/1338/    What we discuss today:  2:54 – The 4% Rule 6:11 – The 10-5-3 Rule 9:04 – As we age, we should transition away from stocks and into bonds for safety. 10:28 – Tagging a certain number as what you’ll need for retirement.  13:59 – You’ll need less income in retirement.

Your home is one of the biggest assets in your financial portfolio and there are a lot of decisions to make related to real estate. Let’s talk about the conversations we have with clients about mortgages, rental properties, downsizing, and more.   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-24-how-your-home-fits-into-retirement-planning/1333/    What we discus on this episode:  1:53 – Background on the conversation today  2:35 – Pay it off as soon as possible or slowly? 6:40 – Is it wise to downsize?  8:48 – Having the emotional attachment to your home. 10:24 – Good idea to have a rental property to generate income? 12:00 – Real estate as part of legacy planning

In order to build a complete financial plan that meets aligns with your goals, it takes many honest conversations with your advisor. Some of those, by nature, are going to be a little uncomfortable. Let’s look at some of the more awkward discussions we have with clients during the planning process.   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-23-awkward-conversations-in-financial-planning/1322/    On today's show:  2:10 – Our topic this week is awkward conversations. 2:54 – Dealing with a divorce. 4:50 – Determining who should be included as beneficiaries. 6:41 – Sorting out an estate. 9:43 – Changing financial advisors 14:00 – Getting emotional due to financial stress.

Financial planning can be complicated at times so let’s try to simplify it a bit. Today we’ll break down the three qualities of money we utilize for a client’s portfolio and what type investments fit into each.   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/investing/ep-22-understanding-the-3-qualities-of-money/1321/    On today's show:  1:37 – What are the 3 qualities of money? 4:13 – Is there an investment that can get all three? 7:22 – What defines liquidity?  7:52 – Examples of growth and liquidity without safety.  8:31 – Growth and safety without liquidity. 9:56 – Which of these do clients typically emphasize?

Before you reach retirement, it’s important that you take an honest look at yourself and your situation. Truly understanding where you want to go and what approach you want to take to get there will help you build the best retirement plan. Today we’ll lay out a list of questions you should ponder. Get inside your own head and determine what the answers are for each of these. That way you can have a straightforward conversation with an advisor, and that will result in the best outcome for your financial future.   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-21-being-honest-with-yourself-financially/1315/    Today's show schedule:  1:12 – What financial issue is at the top of your list? 3:05 – What do you desire the most? 4:58 – How much of a risk taker are you? 6:28 – Do you have any investment biases? 8:33 – What did you learn about money from your parents? 10:13 – What does money really mean to you?

In honor of the upcoming 4th of July holiday weekend, we’re going to declare our financial independence. Join us as we lay out a list of things we want to be independent of when retirement rolls around.   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/investing/ep-20-declaring-our-financial-independence/1309/    Today's show schedule:  0:36 – Happy 4th of July 2:51 – Independence from government is something to aim for in retirement 5:02 – Independent of our family 6:56 – Freedom from debt 8:48 – Be independent from employment 10:28 – Don’t be dependent on the stock market 11:20 – You need to take the time to put your playbook in place.

It’s time to blow up some of the common beliefs people have held for years to make sure you know the truth about financial planning.     Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-19-financial-truth-bombs/1302/    Today's show schedule:  1:33 – This week we’re dropping truth bombs. 2:09 – Bonds are not always as great for retirees as people think they are.   3:50 – Income taxes are currently close to historical lows. Do most people realize that? 5:52 – The hardest part of investing is managing your own behavior. 9:02 – Just because you’re an expert in your area, doesn’t mean you’re an expert in money. 11:32 – You probably have more at risk in your portfolio than you realize.

If you’re a Delta employee or know someone who is, take a few minutes to listen to this special episode dedicated to the buyout offer being made by the airline. We’ll tell you what three considerations you need to make before making any career decisions.   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-18-special-edition-3-critical-considerations-for-delta-buyouts/1293/    Today's show schedule:  0:45 – Let’s start with the first consideration. Have a plan. 2:00 – Second, consider the lump sum option with a pension. 2:47 – Third, take a look at the 401k.

Have you ever gotten lost? Not that much fun is it? Well, getting lost in the car or in the woods is a lot like getting lost in retirement planning. Let’s look at the reasons that people get lost, and then how to get back on track.   Read more and get additional resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-17-how-we-get-lost-in-retirement/1288/    Today's show schedule:  1:58 – Why we’re talking about getting lost.   2:45 – First way we get lost: Bad Tools 4:33 – Bad directions 6:46 – You zone out and lose focus.   8:45 – How do we get back on track?   10:05 – Where do you want to go? 11:19 – Don’t be afraid to ask for help.  

When you spend a lot of time thinking about how to and when to retire, you don’t want to overlook these easy ways to ruin it! On today’s episode we highlight five ways you could ruin your retirement if you aren’t careful.   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-16-5-easy-ways-to-ruin-your-retirement/1280/    Today's show schedule:  2:45 - What are some easy ways to ruin your retirement? 3:24 - Treating retirement as a destination instead of a new phase in life. 5:30 - Thinking retirement solves all your problems. 7:08 - Assuming you can determine monthly spending habits based on life before retirement. 9:14 - Doing nothing and losing your sense of purpose and enjoyment through activities. 13:04 - Investing like you’re 35 when you’re 55 or 60. 15:10 - Office update: What to expect when working with Dale.

If you work with an advisor, are you expecting expert advice or are you expecting to be the one who is right all the time? It’s a relationship of trust as you make wise decisions together, but you might not always be “right” when it comes to making financial plans.   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/ep-15-the-customer-isnt-always-right-when-it-comes-to-financial-planning/1274/    Today's show schedule:  1:20 - What is open right now under current restrictions? 3:27 - If the customer is “always right” then do you need an advisor?  7:34 - What if you are set on a certain trend or investment? 9:21 - What if you don’t want to spend money on something like life insurance or long-term care coverage? 11:23 - Are you really listening to the professional advice from an expert? 12:50 - Follow-through is key.

Ready to suit up and compete in the Olympics? Since the 2020 Summer Olympics have been postponed, let’s keep the games going by applying it to the world of financial planing? Will your strategy and preparation help you succeed? Find out in today’s podcast!   Read more and get additional financial resources here: https://retirementplaybookpodcast.com/retirement-strategy/how-would-you-do-in-the-financial-planning-olympics/1266/    Today's show schedule:  0:51 - The summer Olympics have been postponed due to coronavirus. 2:31 - What would be included in the financial planning Olympics? 2:47 - Facing the marathon of inflation over the long run. 4:05 - Prepare for the hurdle of a recession. 5:59 - Make sure to keep the hidden fees down.  9:06 - Can you balance on a thin line of diversified investments? 10:51 - Are you working as a unit like the synchronized swimmers?

Is financial fear and fatigue stopping you in your tracks? Let’s discuss some of the ways you can continue to move forward with your financial plan.   Read more and get additional resources here: https://retirementplaybookpodcast.com/investing/ep-13-does-your-financial-plan-have-pandemic-paralysis/1257/    Today's show schedule:  1:03 - What is the latest response to the financial side of the response to coronavirus? 2:57 - Should you stop putting money into your 401(k) during this market volatility? 6:44 - Is it still worth meeting with an advisor now? 10:31 - Does this year’s retirement plan have to be put on hold? 12:32 - Are you scared to look at your accounts?