Financial Choices Matter

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Your Financial Advisor Must Have These Traits

Trustworthy. Likable. Problem-solving. Good listener. We should be describing your financial advisor or a potential advisor if you’re in the process of finding one. On today’s show, we’ll talk about why it’s so important for your advisor to embrace these kinds of characteristics. That’s the easy part. But we’ll also tackle the harder part and discuss some tangible ways how you can determine if an advisor has these characteristics or not.

Show Notes:

1:38 - Headline: Rand Paul Bill

6:45 - Traits A Financial Advisor Must Have

7:12 - Trait #1: Trust

8:56 - Trait #2: Likability

10:03 - Trait #3: Area Of Expertise

11:17 - Trait #4: Listening Ability

13:00 - Trait #5: Problem Solver

14:58 - Mailbag Question from Norm: "How much risk to take now that I'm in retirement?"

Top 5 Social Security Misunderstandings

Myths, rumors, and misunderstandings are pervasive in the world of Social Security. On this show, we’ll look to clear up the top 5 misunderstandings about Social Security.

Show Notes:

1:33 - Mailbag Question from Randall: "Places to start investing in for retirement."

5:21 - Top 5 Social Security Misunderstandings

5:42 - Misunderstanding #1: Social Security Is Going Broke

6:43 - Misunderstanding #2: You Should Start Social Security As Early As Possible

7:31 - Misunderstanding #3: You Should Start Social Security As Late As Possible

9:25 - Misunderstanding #4: The SSA Can Help You Choose The Best Strategy When You Go And See Them

11:37 - Misunderstanding #5: You Don't Pay Taxes On Social Security Benefits

14:48 - Do You See People Often Overestimating Their Risk Tolerance?

It’s Good To Have Awkward Conversations

Sometimes being a good financial advisor means having uncomfortable conversations. We’ll take a look at how advisors should help clients navigate various tricky situations.

Show Notes:

0:48 - Story Time: Tax Planning

3:48 - It's Good To Have Awkward Conversations

4:30 - Conversation #1: Death Of A Spouse

6:11 - Conversation #2: Nursing Home Care

8:50 - Conversation #3: Working Longer Than Expected

12:01 - Conversation #4: Legacy Planning

15:21 - Mailbag Question from Kevin: "My employer plans to stop matching 401k contributions..."

18:02 - Mailbag Question from Annie: "Most of my 401k is invested in company stock..."