Financial Choices Matter

Who Really Pays Taxes?

Obviously, we all have to pay taxes. But, depending on income levels, some people are paying more into the system than others. In this episode, Charles breaks down exactly who is paying what, using clear charts and visuals to make it easy to understand.
This can stir up a lot of frustration, especially if you or someone you know feels they’re shouldering more (or less) of the tax burden than they should. We’ll explore the sources of these frustrations and shed light on where tax dollars come from and how they’re distributed.
There’s a lot of valuable insight in this episode that you don’t want to miss, so enjoy the show!
Here’s some of what we discuss in this episode:
0:00 – Intro
1:43 – Who is paying what
6:15 – Where the frustration is coming from
8:32 – Working with a tax professional
10:14 – The impact of tax efficiency on retirement
 
Are The Wealthy Paying Their Fair Share?
https://www.ftportfolios.com/Commentary/EconomicResearch/2024/10/10/three-on-thursday---are-the-wealthy-paying-their-fair-share
 
Contact:
Phone Number: 480-513-1830
Website: https://pelletoncapital.com/
YouTube: https://www.youtube.com/@PelletonCapitalManagement

The Retirement Jigsaw Puzzle

Think of your financial future like a jigsaw puzzle. Each piece- whether it's taxes, insurance, retirement accounts, or estate planning- represents a critical part of your financial life. Without the box cover it’s hard to know how each piece fits.
Understanding how the pieces of your financial puzzle interact is key to achieving your long-term goals. That’s why having someone to help you put it all together who understands the big picture can be incredibly beneficial.
As you listen to this episode, consider how your own financial puzzle is coming together. Do you have a clear view of the box cover? Are there pieces that don't quite fit? Tune in and let’s explore this concept together!
Here’s some of what we discuss in this episode:
0:00 – Intro
2:58 – The key pieces of the retirement puzzle
4:21 – The risks of DIYing your retirement
6:29 – Why you should talk to a professional
8:31 – Finding the right fit
11:41– Listener question
Contact:
Phone Number: 480-513-1830
Website: https://pelletoncapital.com/
YouTube: https://www.youtube.com/@PelletonCapitalManagement

The True Cost Of Long Term Care

Long-term care is a topic that often gets swept under the rug, but it is such a critical part of retirement planning. In this week’s episode, Charles and Marc discuss an article from Investment News that highlights some interesting statistics and misconceptions surrounding long-term care. Did you know that three out of four people will require some form of long-term care in their lifetime? Despite this, only a small percentage actually have long-term care insurance.
Charles explains how many people mistakenly confuse long-term care insurance with other types of coverage, like disability or health insurance, which can lead to expensive consequences later on. Join us as we explore the realities of long-term care needs and share practical advice on how to approach this important topic with your financial advisor.
 
Here’s some of what we discuss in this episode:
0:00 – Intro
1:09 – Long-term care misconceptions
5:22 – Average length of long-term care
8:13 – The importance of long-term care discussions
11:31 – Listener question about financial involvement
 
Resources for this episode:
Article from Investment News
https://digitaledition.investmentnews.com/articles/draining-the-pool-of-confusion-surrounding-long-term-care-insurance
 
Contact:
Phone Number: 480-513-1830
Website: https://pelletoncapital.com/
YouTube: https://www.youtube.com/@PelletonCapitalManagement

Listener Questions: What Is American Funds & How Aggressive Should My Savings Plan Be To Retire By 60?

We’ve got another listener question episode for you today! Tune in as Charles answers a few questions from podcast listeners like you. In this week’s edition, a listener named Wendy asks if it's okay to have all her 401k money invested in American Funds or if she should diversify into other investments.
Charles also tackles a question about how aggressive one’s retirement savings goals should be to retire by 60. He explains how these goals can vary depending on your retirement timeline and shares what future factors you would need to consider. While the right savings amount differs for everyone, Charles walks us through the process of setting those goals.
Here’s some of what we discuss in this episode:
0:07 – Wendy asks “I rolled over a 401k to an advisor a couple of years ago, and he put all the money into something called American Funds. Is that an okay fund, or should I be invested in other things as well? Kind of feels like one thing seems a little weird. What are your thoughts?”
5:07 – Tony asks “I'm 50 years old. Would like to retire before I'm 60. I'm willing to save aggressively to make that happen. How do you determine how much you’ll need to save for something like that each month?”
 
Contact:
Phone Number: 480-513-1830
Website: https://pelletoncapital.com/
YouTube: https://www.youtube.com/@PelletonCapitalManagement

Gen Z and Millennials Are Struggling To Save: Here’s Why

According to a recent survey by Bankrate, roughly 25% of Gen Zers and 21% of Millennials are not saving enough for emergencies. This statistic is alarming, considering that 44% of Americans said they couldn't cover a $1,000 emergency out of pocket. What’s causing this?
While some claim that inflation is to blame, Charles points out that one of the biggest obstacles to financial stability is financial illiteracy. The lack of financial education in American schools means that many young people feel ill-prepared to manage their finances. Let’s chat about creating healthy financial savings habits and what you can do to set yourself up for success.
 
Here’s some of what we discuss in this episode:
0:00 – Intro
0:49 – Gen Z and Millennial saving regrets
1:59 – The importance of financial literacy
5:20 – Being responsible over your actions
8:36 – Finding financial resources and advice
 
Check out the Bankrate article:
https://www.bankrate.com/investing/americans-biggest-financial-regrets-survey/
 
Contact:
Phone Number: 480-513-1830
Website: https://pelletoncapital.com/
YouTube: https://www.youtube.com/@PelletonCapitalManagement

The Retirement Planning “Aha” Moment

Ever had that “light bulb” moment when everything just clicks? Retirement planning is full of them. Charles has had many clients experience these moments of clarity throughout the planning process, one of which he’s going to share with us today.
If you're ready to experience your own "aha" moment and take control of your retirement planning, reach out to Charles Scott and his team at Pelleton Capital Management.
 
Here’s some of what we discuss in this episode:
0:00 – Intro
0:34 – A memorable client experience
2:42 – What is the “aha” moment?
5:36 – Intellectually and emotionally owning your plan
 
Contact:
Phone Number: 480-513-1830
Website: https://pelletoncapital.com/
YouTube: https://www.youtube.com/@PelletonCapitalManagement

Listener Questions: Should You Take Social Security Earlier, Rollover Options, & Can One Firm Manage EVERYTHING?!

In this episode of Financial Choices Matter, Charles Scott tackles some common yet critical retirement planning questions from listeners. Charles offers insightful advice on managing portfolios, Social Security benefits, and the importance of risk allocation. He also delves into the pros and cons of consolidating old 401(k) plans and the complexities of having investments, taxes, and legal documents handled by the same firm.
Tune in to gain valuable knowledge that could help you make more informed financial decisions for a meaningful retirement.
 
Here’s some of what we discuss in this episode:
1:00 - Mary asks "My portfolio dropped quite a bit earlier this year and then recovered some. But it’s still down a bit from where it was at its peak. I’m retired and rely totally on this money for income because I haven’t started my Social Security. I’ve been wanting to wait until age 70 to start it, but now I’m wondering if I should take it now?"
6:20 - Patrick asks "I have two old 401Ks that I’ve been meaning to rollover for a while. I also have a third 401K with my current employer. Should I roll the old ones into the current 401K or into an IRA instead? It sure would be nice to have it all under one account to make the value look bigger!"
10:40 - Ronnie asks "Is it a good idea or bad idea to have my investments, taxes, and legal documents for my estate all handled by the same firm?"
 
Contact:
Phone Number: 480-513-1830
Website: https://pelletoncapital.com/
YouTube: https://www.youtube.com/@PelletonCapitalManagement

5 Pillars of Financial Planning

In today's episode, we're taking it back to the basics to start 2024 on the right foot. Listen in as we cover the 5 crucial parts of financial planning. From understanding income and expenses to risk management, we'll cover the pillars that make up a comprehensive plan.
 
Show Notes: 
0:48 - Main Topic: 5 Part To Financial Planning2:00 - Income4:41 - Tax Planning8:22 - Estate Planning11:10 - Investment Planning14:44 - Risk Management18:12 - Mailbag: Carl Asks About Selling Land
 
Contact:
Phone Number: 480-513-1830
Website: https://pelletoncapital.com/
 

Strategic Planning for Retiree Healthcare

In today's episode, we're focusing on a critical aspect of retirement planning: healthcare costs. How well-prepared are you to handle medical expenses after you retire? We'll discuss everything from Medicare complexities to strategies for managing unexpected health-related expenses. Tune in as we break down the essentials of healthcare financial planning for retirees.
 
Show Notes: 
0:45 - Main Topic: Strategic Planning for Retiree Healthcare
1:55 - Misconceptions
4:35 - Major healthcare related expenses
9:36 - Long term care insurance
13:59 - Mailbag: Jenny asks what she should do with her raise
 
Contact:
Phone Number: 480-513-1830
Website: https://pelletoncapital.com/

What’s Buggin’ Charles?

There's a lot going on in the financial industry. In today's episode, Charles is going to address some of the things that are driving him crazy in the community, from the plethora of confusing financial designations to the lack of attention given to long-term care planning. At the end of the episode, Charles answers a listener question about combining finances and discusses the importance of financial communication in a relationship.
 
Show Notes: 
1:05 - Main Topic: What’s Buggin’ Charles?1:54 - Designations6:11 - Not Enough Emphasis On Long Term Care Conversations17:54 - Mailbag: Valerie Asks For Advice On Combining Finances
 
Contact:
Phone Number: 480-513-1830
Website: https://pelletoncapital.com/