Saving With Silverman

Ever wondered when the next market crash will hit? Or what healthcare costs will look like 20 years from now? Unfortunately, these are questions that none of us have a crystal ball for. So, when it comes to financial planning, how can we be best prepared for the unexpected?   Here are the questions that we chat about in today’s episode: “When is the next market crash going to happen?” “What will healthcare costs look like 20 years from now?” “What will the tax rates be three presidents from now?” “How long am I going to live?”   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832 520.618.5323  

When you break it down to the most basic level, there are really three worlds of money that we utilize for financial planning: banking, insurance, and Wall Street. Each of these worlds has a distinct purpose and role in helping you prepare for retirement. Let’s talk about the pros and cons of each and how we use them to design a portfolio.   Here’s some of what we’ll discuss in this episode: The banking world is great for savings and low risk, but it limits your opportunity for growth.   Why we don’t look at insurance as an investment and what do we use this for. The Wall Street world involves risk but a proper portfolio gives you the best chance for growth.   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832 520.618.5323

Nearly everyone we know has seen the movie Forrest Gump, which hit movie theaters nearly 30 years ago. That’s really hard to believe, but it’s a film that still holds up today. Forrest might have been slow-witted, but it’s hard to find a more inspirational character. Believe it or not, there are even financial lessons we can glean from the movie and we’ll share those today.    Here’s some of what we’ll discuss in this episode: Why you need to have a plan that’s able to adjust as life changes. An example of someone who had a life circumstance that completely changed their plans. We can’t get hung up on decisions we made in the past. Instead, we need to focus on what we can do moving forward. Nobody escapes death so what can you do now to prepare your family for loss?   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832 520.618.5323

There are lots of financial decisions that people tend to push off to a later date. Usually, procrastination is not your friend, but in today’s episode, we’re going explore whether putting off certain financial matters is a good or bad strategy. Stay tuned as we chat about deferring taxes, eliminating debt, setting up legal and estate documents, and more!   Here’s what we discuss in today’s show: Deferring taxes can be beneficial upfront, but they will eventually need to be paid There are good and bad kinds of debt The benefits of having a simple will in place Understanding when to start taking Social Security benefits   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832 520.618.5323  

In this week’s episode, we’re diving into the journey that brought Mark to where he is today. Stay tuned as he reflects on the journey that led him to this point in his career and the influential figures who shaped his personal views on money and finance along the way. We’ll also discuss the importance of planning for retirement and the common frustrations people face when they haven't adequately prepared for this significant life transition.   Here’s what we discuss in today’s show: How Mark became interested in the financial industry + influential mentors in his career The difference between the accumulation and distribution phases of retirement What gratifies Mark the most about his job in financial planning? It's never too late to seek help with retirement planning, even if you've already retired without a plan   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832 520.618.5323

Social Security is a complex system that impacts nearly everyone’s financial future. Despite its importance, there’s a lot that the average person doesn’t know or understand about it. Today we’re going to explore some of these lesser-known facts so that you can make the most informed decisions for your financial future.   Here’s some of what we discuss in today’s show: What are work credits, and how do they impact Social Security benefits? How do spousal benefits work, and can non-working spouses receive benefits? Former spouses who were married for at least 10 years may be eligible to claim benefits based on their ex-spouse's earnings. What is the earnings test, and how can it affect early Social Security withdrawal? Your Social Security benefits can be garnished by the federal government.   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832 520.618.5323

We’re back with another mailbag episode this week! We have an exciting lineup of topics to discuss today. Colleen asks how much money she should have in her emergency fund. Bonnie asks Mark to explain the basics of estate planning to ensure that her assets are passed on with minimal tax implications. Listen in as we tackle these questions more in today’s episode!   Here’s are the questions Mark answers in today’s show: How much money should I have in my emergency fund and how does this differ from other savings? I want to ensure my assets are passed on to my children with minimal tax implications. Can you explain the basics of estate planning that I should make sure I have covered? I owe about $50,000 In my house, and about $45,000 on a rental property that I've had for several years. I have enough cash to pay off one of these but not both. Which one should I pay off?   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832 520.618

A recent study analyzed Google Trends to find out what keywords are being searched the most and it revealed six financial topics that get queried the most. From income taxes to insurance, there’s a pretty good chance that you’ve searched some of these as well.   On today’s show, we’ll talk about: What problems could you run into if you’re relying on Google to do your planning? Insurance has so many types of policies so you have to be specific when looking. Searching for mortgages returns a lot of paid content. Problems you could run into when Googling just retirement accounts. What people are looking for when they search estate planning.   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832 520.618.5323

Today we’ll talk about why a lot of people don’t think about the need for long-term care despite the fact that it could be incredibly expensive. Plus, we’ll discuss some of the different options for protecting yourself against the possibility of long-term care needs in retirement.   On today’s show, we’ll talk about: Where long-term care ranks on the list of priorities in retirement planning. Why most people don’t take long-term care seriously until it affects them. How realistic is it to self-insure for LTC? Is long-term care insurance a good policy to have? Why life insurance is a good option for a lot of people for helping with LTC   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

Today we're sharing some qualities of money that you need to know as you plan for retirement. For example, do you know what three qualities of money should be represented in nearly every investment plan? Or how about this – what’s the best single investment that achieves all three qualities at once? Stay tuned as we explain what these qualities are and why you need to know this crucial information as you prepare for for financial future.    On today’s show, we’ll share: What three qualities of money should you find in your investment plan? Is there a single investment that achieves all three qualities at once? Examples of different investments that achieve different qualities.   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323  

Socrates said the unexamined life is not worth living. When it comes to financial planning, it’s important to examine yourself by pondering some of these important questions. Today we’ll get to the heart of the issues.   On today’s show, we’ll discuss: What financial issues keep you up at night? What do you really desire the most financially speaking? How much of a risk taker are you when it comes to money?   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323

No matter what generation you’re from, people of all ages have financial struggles – some more than others. On today’s show, we’ll dive into three generations – Millennials, Generation X, and Baby Boomers to look at the different ways they handle money and what challenges they often face.   On today’s show, we’ll share: What challenges do Millennials face? (1:40) What challenges does Generation X face? (3:10) What challenges do Baby Boomers face? (5:00)   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323    

It’s time for another mailbag episode! This episode could be very helpful if you’re looking to improve your financial situation and prepare for retirement. We will discuss what to do if your life insurance policy starts charging premiums again, what to invest in that won’t be so volatile, and when to take Social Security. Listen in as we tackle some current questions from our listeners, and you’ll likely gain some invaluable insights to help you make informed financial decisions.   On today’s show, we’ll share: Why is my life insurance policy starting premiums again? (1:39) What can I invest in that won’t be so volatile? (3:35) Should I take Social Security or withdraw from my retirement accounts? (5:28)   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323  

Not everyone needs a financial advisor right away, but some people desperately do. Unfortunately, people can have a hard time understanding which category they fall into. We’ve met with many different clients over the years. During those discussions, we’ve been able to tell who urgently needs our help, who simply needs a little guidance, and who thinks they have it all figured out. Listen to today’s show and find out what financial help you might need at different life stages, as Mark shares some first-hand insights on the benefits of financial planning.    On today’s show, we’ll share: Someone who thinks they don’t need an advisor, but they really do. (2:15) Someone who thinks they need an advisor, but they really don’t. (3:35) Someone who needs financial planning help but not necessarily investing help. (5:26)   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323

In the complex world of financial planning, there are countless pitfalls one could fall into as you approach retirement. In this episode, we’ll share some common mistakes we see people make all the time. Avoiding these crucial missteps can have a significant impact on the success of your retirement plan. We'll delve into these key issues and learn how to navigate them effectively when it's your turn to plan for retirement.    Here’s what we’ll discuss on today’s show: Investing at age 59 the same way that you invested at 39 (1:56) Starting Social Security without a plan or strategy (3:03) Focusing on tax preparation, but not tax planning (4:33)   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323  

Is there really such a thing as having predictable, guaranteed income in retirement? Maybe the question is really “guaranteed by whom?” In this episode, we’ll discuss some of the retirement income sources that people might view as predictable but really aren’t certain.   On today’s show, we’ll share: Is predictable, guaranteed income in retirement really a thing? (1:35) What are some examples of predictable income? (2:19) Why you need a diversified portfolio. (3:09)   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323    

Today’s topic may be a difficult one to consider, but it is a very important one at the same time. If you were to lose your spouse, what steps should you take to manage your finances? In today’s episode, we are going to share some real-life examples and cover the most common questions and challenges we’ve seen clients face after losing a loved one.   On today’s show, we’ll share: What are the main questions people ask after their spouse dies? (1:16) What are the immediate challenges people face after their spouse dies? (2:47) We share a story about a widowed spouse who was left in a difficult position. (4:50)   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323  

Yogi Berra was a sports icon and one of the most quotable people to ever live. And when we look at some of his quotes through the right prism, they can teach us some lessons about financial planning. In today’s episode, we’ll have a little fun with some of these quotes to see what financial wisdom we can pull from them.   On today’s show, we’ll share: I never said most of the things that I said. (2:05) A nickel ain’t worth a dime anymore. (3:39) When you come to a fork in the road, take it. (5:37)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com  

When it comes to financial planning, it’s OK to admit that you don’t know the answer to something. The real danger is thinking you know the answer to something when you actually have it all wrong.    Today we’re discussing some of the things people think they know, but in reality they really don’t. Even with all the information that’s available to us everyday, there are still plenty of aspects of finances and retirement planning that can be confusing and hard to process. So let’s try to sort some of that out on this episode and help level up your financial knowledge.   On today’s show, we’ll share: How much income you’ll need in retirement. (2:12) When to jump in or out of the market. (4:14) Whether to have life insurance and how much. (5:26)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com

Last year was a rough year in the market, but it’s hard to attribute it to any one particular trend. It was more a confluence of various factors. On today’s show, we’ll review some of the absolute worst days, weeks and years in market history, what caused them and what we learned.   On today’s show, we’ll share: What happened on Black Tuesday? (2:03) How did the Dot Com crash affect us? (2:41) What happened when the markets reopened on Sept. 17, 2001? (3:30)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com