Saving With Silverman

Just because you can’t plainly see all of the expenses you’ll incur during the retirement planning process, that doesn’t mean they aren’t there. We’ll share some of the hidden expenses you might uncover.   Today's Key Points:   2:00 – Mutual funds 2:47 – Variable annuities 3:57 – Inflation 5:43 – Tax increases 6:40 – Leisure activities   For additional financial resources, visit us online: https://silverman-associates.com/saving-with-silverman-podcast 

When looking for a financial advisor, beware of signs that they are more interested in giving you sales pitches than helping plan your financial future. We’ll share things to watch out for when selecting a professional to help with your money and tell you more about the planning process we utilize with clients.   What we discuss in this episode:  1:38 – Advisor or salesperson? 2:30 – Planning process 4:37 – Mark’s process 5:48 – What makes us unique? 7:40 – The first conversation   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast 

In retirement planning, there are many things that are completely out of your control. Fortunately, the things that you can control allow you to deal with those things you can’t.   What we discuss in this episode:  1:55 – Market and risk 3:40 – Life span and income 5:23 – Tax rates and future taxes 6:43 – Social Security and income plan   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast 

Creating a customized retirement plan for any individual can mean addressing some unique challenges. We’ll share some scenarios, discuss the challenges presented and share what solutions we recommend.   Read more and get additional resources here: https://silverman-associates.com/saving-with-silverman-podcast       What we discuss in this episode:   1:53 – Age gap 2:48 – Early retirement 4:06 – Lack of liquidity 5:28 – Separate finances 6:23 – Divorce

What are your thoughts on tax refunds, mortgages, macaroni and cheese and Star Wars? Let’s have some fun today and talk about whether these things are overrated, underrated or properly rated.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast    What we discuss in this episode: 0:51 – Tax refund 1:44 – Star Wars 2:30 – Paying off mortgage 3:33 – Variable annuities 5:00 – Macaroni & cheese 5:46 – Roth IRAs

If you want a successful retirement, we’re sharing some of the foundational building blocks you need to have in place. For example, is your income plan ready to go?   What we discuss in this episode:  1:15 – Income plan 1:57 – Money that lasts 3:12 – Being unprepared 4:25 – Steps to take 5:38 – Success stories   Read more: https://silverman-associates.com/saving-with-silverman-podcast

Today we’re sharing some crucial financial questions. How do you know how much income you’ll need in retirement? Are you taking too much risk on in your investments? We’ll answer these questions and more.   What we discuss in this episode:  0:44 – How much income will you need? 2:03 – How much money in savings? 3:00 – How much life insurance? 4:19 – How much risk 6:06 – Are fees too high? 7:13 – Is an advisor a good fit?   Read more: https://silverman-associates.com/saving-with-silverman-podcast

As a financial professional, there are things that Mark wishes everyone knew and understood about the financial industry. Today he’s going to share some of the tricks that sometimes get played and how to spot them.   What we discuss in this episode:  0:56 – Tricks 3:06 – Fees 3:50 – Risk potential 5:13 – Credentials 7:02 – Taxes   Read more: https://silverman-associates.com/saving-with-silverman-podcast

Delayed gratification is a difficult skill to master and that’s just as true with financial matters as it is in the other areas of your life. Let’s talk about some instances where you might be faced with a choice of being satisfied now or satisfied later.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-46-how-delayed-gratification-can-help-your-finances   What we discuss in this episode:  1:00 – Budget vs. 401k match 2:26 – Deduction vs. tax planning 4:18 – Social Security

Psychologists have determined that retirement is the 10th most stressful event that you can experience in life. Today we’re sharing some ways to proactively deal with that stress.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-45-how-to-deal-with-financial-stress-in-retirement    What we discuss in this episode:  1:06 – Lifestyle changes 2:08 – Retiring earlier or later 3:01 – New challenges 3:53 – Keep options open 4:50 – Sense of perspective

In today’s mailbag, we’re answering your questions. Carl wants to know if he can gift $150,000 to his daughter. Laura wonders what she should do with her money after retirement. And Eddie is debating whether to hire a financial advisor.   Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-44-mailbag-gifts-to-children-money-after-retirement-hiring-advisors   What we discuss:  0:33 – Gifting money to daughter 2:37 – Roll to an IRA? 4:05 – Hire an advisor?

Let’s talk about some of the red flags that people can look out for when they’re shopping for a financial advisor. Have you ever met with one of these types?   Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-43-manufactured-anxiety-or-worth-the-worry   What we discuss:  1:00 – Social Security going broke? 2:47 – National debt out of control? 3:34 – Climate change a serious problem? 4:43 – Economy grind to a halt? 5:49 – Stock market crash coming?

Let’s talk about some of the red flags that people can look out for when they’re shopping for a financial advisor. Have you ever met with one of these types?   Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-42-red-flags-with-questionable-advisors   What we discuss:  0:51 – Hammer 2:51 – Oxygen hog 3:55 – Car trunk 5:39 – Empty suit 6:41 – Non-answerer 8:48 – Just give us your money

Almost everyone has made investment mistakes at some point. We’ll share how to bounce back from mistakes and avoid making them again in the future.   Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-41-moving-on-from-investing-mistakes   What we discuss:  0:58 – What caused it? 2:07 – Increase savings 3:09 – Recalibrate your goals 4:42 – Get a real plan in place

Today we’re opening the mailbag and taking your questions about long-term care insurance, inheritance, and pension options. Is it OK to rely on a promised inheritance? What should you do if you’re too young to retire but are losing your job? We will discuss all of this today.    Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-40-mailbag-long-term-care-insurance-inheritance-and-pension-options   What we discuss:  0:44 – Long-term care insurance 2:21 – Pension options 3:59 – Retirement money

There are certain retirement planning principles that apply to everyone, regardless of who you are, how much money you have when you’re retiring, or where you live. We are going to discuss some of these universal principles and what you can learn from them.      Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-39-universal-retirement-truths   What we discuss on this episode:  1:00 – Income plan 2:09 – Long-term care 4:06 – Timing the stock market 5:32 – Longevity

We talk about financial planning all the time, but plans aren’t concrete. You need to have some flexibility as the years pass. Today, we’ll share how to rebalance your portfolio and why it’s important.     Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-38-why-and-when-to-rebalance-your-portfolio    What we discuss on this episode:  0:47 – Rebalancing 2:04 – How often to rebalance 2:49 – Younger versus older 3:30 – Investment vehicles 4:28 – How long Mark has been doing this work 5:33 – Personal story

What is your biggest financial fear? There are some very common ones. We’ll explain how to help people address these fears in their retirement plan.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-37-facing-your-financial-fears    What we discuss on this episode:  0:45 – Running out of money 2:17 – Nursing home care 3:18 – Taxes 4:40 – Relying on kids 5:22 – Advisors

Getting through retirement can be a lot like running a marathon. We’ll share some of the similarities on this episode so you can make sure you training is on track.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-36-the-retirement-marathon    What we discuss on this episode: 0:53 – Planning and preparation 2:45 – Proper diet 4:13 – Don’t start too fast

On today’s Saving With Silverman podcast, Mark Silverman CFP® explains why you never want to make emotional decisions about your money.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-35-how-to-avoid-emotional-decision-making-with-your-finances    What we discuss on this episode:  1:28 – Types of emotion 3:18 – Mistakes 4:21 – Taking emotions into account 6:25 – Math and emotional needs 8:05 – Introductory phone call