Saving With Silverman

When it comes to retirement planning, real estate often emerges as a popular topic of discussion. If this is something you’ve been curious about, this episode should be very helpful. We’re going to dive into the complexities of real estate and some of the factors you need to consider before making any final decisions. Join us to learn how to make smarter choices about your real estate investments and retirement planning.   Here’s what we discuss in today’s show: Keeping a sense of perspective on the current mortgage rates. Challenges with using rental properties as a means to fund retirement. Diversifying portfolios that have a good amount of real estate holdings. What is a reverse mortgage and why the complexity and cost make them a less attractive option.   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

In this episode, we look at finance through a bit of an unconventional, yet enlightening lens. Mark takes the timeless wisdom of Ernest Hemingway to draw parallels and impart valuable lessons for making smarter financial decisions. The great American novelist and journalist captured the hearts and minds with his adventurous lifestyle. During his 51 years on Earth, Hemingway left a lasting legacy and it isn’t always explored from a financial viewpoint. That’s what we'll do today with some of these great quotes and hopefully provide you with a little real-world guidance you can apply to your own life today.     Here’s what we discuss in today’s show: How financial planning doesn’t always go just like the books tell you it will. There is always something new to learn and something to improve on. How to adapt to the current realities of the market (at any point in time).   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

Calvin and Hobbes is one of the most timeless comic strips in American history, but is there anything we can learn from Bill Watterson’s masterpiece in the financial realm? Turns out there is, and Mark will draw on wisdom from the comic to highlight several quotes that offer valuable lessons for financial planning.   Here’s what we discuss in today’s show: Preparing in advance for some of those financial surprises. Having a sound investing strategy. Making sure your retirement income keeps pace with inflation. Getting ahead on your retirement plan.   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

Have you ever considered how the mundane tasks we do around the house can offer valuable lessons for managing our finances? In this episode, we’re going to expand on this intriguing analogy. From taking out the trash to cleaning out the fridge, Mark provides insightful advice on maintaining a well-diversified portfolio, updating beneficiaries, and the importance of periodic maintenance.   Here’s what we discuss in today’s show: Reviewing your portfolio and making sure that it is well diversified. Ensuring that the investments in your portfolio are appropriate for where you are in life. Knowing what you want from your financial advisor.   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

Every individual will have a unique plan for retirement, but there are questions that every person should be able to answer before they make the transition. Am I prepared for increased tax rates in the future? What about if I live longer than I plan and I outlive my money? What do I want to happen with my money after I die? Today we’ll provide a comprehensive checklist that will help prepare you for retirement.     Here’s what we discuss in today’s show: Saving for the future while enjoying life in the present. Being prepared for retirement risks. Minimizing future tax liability. Incorporating legacy planning into your overall 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

Mark Twain is one of the most revered authors in American history, but what can we learn about finance from this legendary wordsmith? Join Mark Silverman as he takes a look at some of Twain’s most famous quotes and applies the lessons to financial planning.   Here’s what we discuss in today’s show:  Diversification and spreading out your risk to protect your portfolio. Not letting politics be an excuse when it comes to investing decisions. The longer-term an investment you have, the more likely you are to have a good return. The value of getting ahead and how money is a tool.   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

Can you imagine how difficult it would be for a placekicker if the goalposts suddenly shifted just as they were about to kick? In the same sense, how can we expect to achieve our financial goals if we're constantly shifting the targets? Retirement goals can obviously change with the passage of time, but there can be some serious risk when it comes to your retirement if you shift the goalposts a little bit too carelessly.   Here’s what we discuss in today’s show: Setting and sticking to goals. Not keeping more cash for your retirement than you need. Determining how much risk you should be taking.   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

While you’ve probably heard of bonds before, do you really have a full understanding of how they work, especially when compared to stocks? Today we’ll dive deep into the world of bonds, breaking down their complexities and offering valuable insights.   Here’s what we discuss in today’s show: What are bonds, and how are they different from stocks? Bond funds v. individual bonds. What causes bond prices to change?   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

Have you ever glanced at your financial statements and felt overwhelmed by the numbers and jargon? You're not alone. Many people receive statements from their investment accounts every month or quarter but don't fully understand what they're looking at.   Here’s what we discuss in today’s show: Some of the challenges when it comes to fees. What is cost basis and why is it important? What’s in the fine print that you should be paying attention to?   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

It’s been said that “the sales brochure giveth and the fine print taketh away.” In the financial world, glossy brochures and enticing sales pitches often conceal ugly hidden truths.  Let’s talk about some of the things we hear from people when they don’t pay enough attention to the fine print...   Here’s what we discuss in today’s show: “I just got a big rate increase on my long-term care insurance!” “The fees in this annuity are a lot higher than I was told!” “This mutual fund had done really well for the last several years, but it tanked as soon as I got into it!” “My life insurance suddenly got really expensive as soon as I turned 65!” “I want to get some money out of this REIT but they’re telling me I can’t have it back!”   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 the realm of personal finance, there's no shortage of advice- some of it good, some of it not so much. Being a good advisor isn’t about winning a popularity contest or just saying the same things that everyone else in the industry says. It’s about giving the best advice that you can for each individual situation. Let’s discuss some areas where Mark’s opinions might not be popular with other people in the financial industry...   Here’s what we discuss in today’s show: The appropriate amount of risk for a retiree or pre-retiree The appropriate use of life insurance How to handle debt Whether or not to pay off the house The appropriate use of annuities The appropriate use of mutual funds How much money to have in cash   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

A recent study revealed that 19% of Americans over the age of 65 are still working, which is twice as high as it was 30 years ago. Today, we’ll explore some of the reasons behind this statistic.   Here’s what we discuss in today’s show:  Some people truly love their job A divorce can force someone into working longer than they originally planned Waiting for Social Security full retirement age Some people simply haven’t saved enough   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 episode of Saving With Silverman, we delve into the nuanced world of financial risk. Join Mark Silverman, CFP® and founder of Silverman & Associates, as he unpacks the complexities of risk tolerance in investing. Whether you're a thrill-seeker in the market or prefer a more cautious approach, understanding the risk you're comfortable with is crucial to achieving your financial goals. Mark emphasizes the importance of understanding not just how much risk you're taking, but also how much you should be taking to stay on track for your objectives. You’ll learn about the pitfalls of chasing market trends and the dangers of being misaligned with your risk tolerance. Mark's conversation is peppered with insights like 'Investments work, investors don't,' highlighting the common mistakes people make when trying to time the market. Discover how to align your investments with your life goals in our latest podcast episode. Learn the secrets of managing risk, crafting a diversified portfolio, and ensuring your

We like to approach financial conversations from a creative angle here on the show. So, in today’s episode, we’re exploring the timeless wisdom of past presidents. Join Mark as he takes five famous quotes from influential figures such as George Washington and Ronald Reagan and shares how their wisdom applies to financial planning.   Here are the quotes we discuss in today’s show: “When only one side of a story is heard and often repeated, the human mind becomes impressed with it.” “Ask not what your country can do for you, ask what you can do for your country.” “Think about every problem, every challenge we face. The solution to each starts with education.” “Trust but verify.” “It takes a great man to be a good listener.”   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 today's uncertain financial landscape, it's easy to feel like you're rolling the dice when it comes to retirement planning. With rising costs and unexpected expenses to account for, leaving your financial future to chance isn't a risk worth taking. Join us on this episode as we dive into the importance of strategic retirement planning.   Here’s what we discuss in today’s show: Understanding and planning for how much income you’ll need in retirement Maintaining a sufficient liquid reserve to handle unforeseen costs Accounting for the cost of inflation in your retirement plan The escalating costs and uncertainties surrounding healthcare   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    

Does retirement planning sometimes sound like Greek to you? Turns out, that's not always a bad thing. Join us as we take a step back in time and explore the timeless wisdom of Aristotle in today’s episode.   Here are the quotes we discuss in today’s show: “It is the mark of an educated mind to be able to entertain a thought without accepting it.” “Quality is not an act. It is a habit.” "The aim of the wise is not to secure pleasure, but to avoid pain." “Well begun is half done.”   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

Welcome back to the Saving with Silverman podcast! In today’s episode, Mark is going to answer some mailbag questions sent in by listeners like you. These episodes are a great way for you to learn from real-life financial scenarios while gaining valuable insights into managing your finances effectively.   Here are the questions we cover in today’s show: “Is financial expense insurance worth buying?” “I have to start taking RMDs next year. Should I take these withdrawals in monthly installments or one big withdrawal at the end of the year?” “How much tax should I expect to pay on my deceased mother's estate, which includes an IRA worth $150,000, a checking account with $100,000, and a house about to be sold for $350,000?”   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

Welcome back to the Saving with Silverman podcast! This week, we’re going to see what home renovation projects can teach us about the world of retirement planning.  We’ll explore insightful lessons derived from the renovation process, such as understanding the “contractor's discount” and the importance of passing financial "inspections."   Here’s what we discuss in today’s show: The financial advantages of working with an RIA firm, including transparent fees and potential cost savings Passing “inspection” in financial planning with a collaborative financial planner The importance of specialization in financial planning and working with and advisor who prioritizes planning instead of products   Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832 520.618.5323

In today’s episode, we’re going to cover some signs of good financial health. Listen in as Mark covers four essential areas that lay the foundation for a secure retirement. We’ll chat about the importance of spending less than you make, understanding the future tax implications of your savings, crafting a comprehensive retirement income plan, and more.   Here are the signs of good financial health that we’ll chat about: You spend less than you make You understand the future tax implications of your savings Both you and your spouse both understand your retirement plan and are prepared for the unexpected You have a written retirement income plan and peace of mind   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  

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