Saving With Silverman

A good financial plan considers the unique needs and views of both spouses. But let’s face it, couples often come to the table with different approaches to saving, spending, and planning for the future. So, how do you get on the same page and build a plan that works for everyone? In this episode, we’ll explore the challenges and strategies of financial planning for married couples. Here’s what we discuss in today’s show:

Arizona is a unique state in that parts of the state have harsh winters while other areas deal with extreme heat in the summers. Either way, it definitely drives retirees to consider taking up residence somewhere else in those months when the weather isn’t enjoyable. Is ‘snowbird’ life for you? Let’s talk about what motivates people to take up temporary residence elsewhere, where they go, and if it’s worthwhile. Here’s what we discuss in today’s show: What our clients usually do when they choose to become ‘snowbirds.’ Where do people usually go to live when they leave? What do you need to consider before deciding to take up two residences? The ways that technology has given more flexibility with work and travel.   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

For many Americans, the 401k will be their biggest asset in retirement and will be a critical piece of the income they need to create. It’s no surprise that we get a lot of questions about the 401k and today we’re going to address some of the one that we get asked the most. Here’s what we discuss in today’s show: Is it a good idea to take advantage of a program your company offers to advise you on your 401k? Should you contribute as much as you can or just enough to get a company match? Should you use target date funds? Is it okay to take out a 401k loan to pay for major expenses? When is it a good time to rollover a 401k into an IRA? 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 going to tackle retirement planning through a fun game called ‘Two Truths and a Lie.’ Ron will present Mark with three statements, and he’ll have to tell us which two are true and which one is the lie. This episode is designed to help listeners better understand how various financial elements impact their retirement and overall financial health. Here’s what we discuss in today’s show: Do stocks, bonds, or gold typically do better in inflationary periods? Rising interest rates will hurt borrowers, but rising interest rates don't hurt savers. Your emergency fund should be growing or it should be liquid. A market crash right after you retire can be very problematic. What’s the truth behind the future of Social Security? Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

If you’ve done any research on retirement and financial planning, you’ve probably seen the term diversification used quite a bit. But does what it mean to truly be diversified? The truth is that it can mean a lot of different things when it comes to your financial plan. Here’s what we discuss in today’s show: Diversification of stocks Diversification of asset classes Global diversification Diversification of strategies Diversification of future tax liability   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

You wouldn’t necessarily expect Lindsay Lohan, Rosie O’Donnell or Mike Tyson to dispense valuable insights about financial planning matters. In fact, you’d probably expect the opposite. But with a little bit of creativity, we can get some financial planning pearls of wisdom from even the most unlikely of sources. Here’s what we discuss in today’s show:  Not being your own worst enemy when it comes to investing Taking what you hear on TV or social media with a grain of salt Having a game plan but being flexible with that plan as things change Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

With pensions being a thing of the past, and Social Security looking like it might have some changes coming, retirement planning today is nothing like it was for your parents or grandparents. In the past, people often retired and only lived a few years beyond that, but today’s retirees could spend 20, 30, or even 40 years in retirement. And, unless you’re in one of the few jobs that still offer pensions, it’s largely up to you to create and secure your own retirement. In this episode, Mark breaks down exactly how retirement planning has changed over the years and shares how people can start to get ahead in their planning. Here’s what we discuss in today’s show: Pensions are largely a thing of the past The challenge of having to support your children and elderly parents at the same time Concerns about the future of Social Security Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

From fitness icon to actor to governor, Arnold Schwarzenegger has worn lots of different hats over the course of his incredible life. Is financial advisor the next one he’s ready to put on? Probably not, but in today’s episode, we’ll dive into some of Arnie’s most well-known quotes and see how they can apply to the financial world! Here’s what we discuss in today’s show: How investing changes as you move through different stages of life. Visualization and setting goals. How the stock market is cyclical. The hard part is often just getting started. Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

In our fast-paced lives, we often find ourselves juggling multiple priorities, from maintaining a healthy lifestyle to ensuring financial stability. But have you ever considered how these two seemingly distinct aspects of life might share common ground? In the latest episode, Mark highlights the intriguing parallels between weight loss and financial planning. Here’s what we discuss in today’s show: Understanding both the pros and cons when it comes to different financial products. Being diligent with saving. Your financial plan is not just for you, but for your family too. Reassessing your financial goals as your life circumstances change. Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

Lots ​of ​people ​have ​questions ​about ​their ​retirement, but most ​people ​should ​be ​asking ​about things they don’t know about. In this episode, Mark will give you the questions that can significantly impact your financial future, which is essential for getting on the right track for retirement. Here’s what we discuss in today’s show: Figuring out how much you can withdraw from your savings every year. Considering if you should maintain a life insurance policy when you are retired. Do you know what you’re paying in fees and what that is getting you? Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

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