Financial Choices Matter

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Financial Fact Or Fiction

Sometimes the easiest way to learn about something is make it really simple. Like some of the first true/false tests you might have taken in school, let’s play a round of fact or fiction to test your financial planning acuity.


Phone Number: 480-513-1830


Show Notes: 

1:21 - How Would Charles Would Advise Warren Buffett

4:53 - Your Social Security Is Taxable

6:05 - Taxes Will Likely Be Lower in Retirement

9:05 - Term Life Insurance Is Better Than Whole Life Insurance

11:14 - Medicare Will Cover Most Of Your Needs In Retirement

13:27 - The Older We Get, We Should Shift From Stocks To Bonds

17:34 - Mailbag: Andy Asks How Much Of Your Portfolio Is It OK To Have In One Stock

Are You Flirtin’ With Disaster?

By ignoring the simplest fixes in your financial plan, you could be setting yourself up for a potential disaster. Don't wait until it's too late to make these changes.


Phone Number: 480-513-1830


Show Notes: 

1:16 - Charles Shares His Picks For March Madness On The Men’s And Women’s Sides

3:04 - The Risk Of Having Out Of Date Legal Documents

5:06 - Not Correcting Beneficiary Designations

7:35 - Avoiding Tax Problems Of The Future

11:00 - Not Having A Plan For Long-Term Care Expenses

14:27 - Getting To Know You: What Is The Luckiest Thing That Has Ever Happened To You?

The Financial Dictionary

Let’s step into the classroom again to cover some financial buzzwords. Are these important to know? What are they? How do they impact you? We’ll answer those questions and more as we always look to educate you a little bit on the show.


Phone Number: 480-513-1830


Show Notes: 

1:16 - Getting To Know: Favorite Restaurant?

3:07 - Main Topic: The Financial Dictionary

3:19 - The Go-Go Years 

4:55 - The High-Yield Bond/Junk Bond

7:08 - Index Fund

9:36 - Mailbag: Erin Asks About Financial Advisors Who Works Exclusively With High Net Worth Clients

This Is Why You Never Assume

We often see people making certain assumptions about retirement that just aren’t correct. Let’s explore some of those on today's show.


Phone Number: 480-513-1830


Show Notes: 

1:07 - Headline: General Motors Selling Only Electric Vehicles By 2035

4:42 - Main Topic: Never Make Assumptions

5:16 - I’ll Spend Less In Retirement

8:08 - My Taxes Will Be Lower In Retirement

10:19 - Helping Children

13:01 - I’ll Never Be Able To Retire

16:01 - Boe Asks If He Can Leave His Entire 401(k) To His Son

Biggest Client Concerns

We run through the laundry list of top concerns that many retirees and pre retirees have. Charles discusses how he address them and what is the underlying theme that is causing those concerns.


Phone Number: 480-513-1830


Show Notes: 

2:04 - Main Topic: Client Concerns

2:17 - What Are Some Top Concerns?

4:01 - Dog Analogy

8:00 - Wall Street Has Set Low Expectations

14:00 - Elon Musk’s Recent Rise In Wealth

Innovation Causing Disruption

What’s the most interesting thing in the investment world? We talk about the concept of innovation causing disruption in various industries, what that means and why it might be something worth paying attention to.


Phone Number: 480-513-1830


Show Notes: 

1:46 - Main Topic: Innovation Causing Disruption

3:22 - Ecommerce

5:53 - Interesting Statistics

11:21 - People Don’t Like Change

Retirement Statistics Worth Understanding

Have you ever stopped to think about your journey of learning all that you have about money and finances? Did you parents shape your financial views most heavily? Is there a TV or radio expert that has influenced you most? Or have you learned everything from a book or Google?


Phone Number: 480-513-1830


Show Notes: 

2:13 - Main Topic: Retirement Statistics

2:30 - 17% Of American Workers Are Confident They Can Retire

5:04 - The Average 65 Year Old Woman Has A Life Expectancy Of 20.7 More Years

8:00 - 16.5% Of Our Country’s Population Is 65+

11:09 - The Average Retiree Faces Around 300K Of Out Of Pocket Medical Expenses

12:39 - 20% Of People Have Had A Written Plan Done

16:12 - Getting To Know: Who Besides Your Parents, Taught You The Most About Life?

Where All My Financial Knowledge Comes From

Have you ever stopped to think about your journey of learning all that you have about money and finances? Did you parents shape your financial views most heavily? Is there a TV or radio expert that has influenced you most? Or have you learned everything from a book or Google?


Phone Number: 480-513-1830


Show Notes: 

2:01 - Main Topic: Where All My Financial Knowledge Comes From

2:35 - Financial Celebrities

6:39 - Best Financial Books

9:34 - Family Members

10:26 - What Got Charles Into The Financial Realm?

11:38 - Is Technology Helping, Or Hurting?

13:44 - Favorite Economist?

15:46 - Diana Asks If Life Insurance Is A Legitimate Retirement Strategy

Understanding The Different Types Of Risk

There are many more risks to guard against in retirement planning than most people realize. Let’s explore some of the planning risks we all face and how to prepare for them.


Phone Number: 480-513-1830


Show Notes: 

1:38 - Main Topic: The Different Types Of Risk

2:17 - Market Risk

3:29 - Inflation Risk

5:01 - Tax Rate Risk

5:44 - Longevity Risk

10:04 - Mailbag: Ellen Asks If She Should Refinance Her Mortgage

15:24 - Getting To Know You: How Did You Decide On Your Children’s Names?

End Of Year Planning Tasks

Let’s explore some of the things you should be thinking about and checking on as we wrap up 2020 and begin 2021.


Phone Number: 480-513-1830


Show Notes: 

2:40 - Main Topic: End Of Year Planning

2:55 - Should We Be Maxing Out Our Retirement Contributions?

3:48 - Reviewing The CARES Act

5:04 - Tax-Loss Harvesting

5:33 - Evaluating Tax-Deductible Charitable Contributions

7:45 - Roth Conversions

10:05 - What’s A CFP & RIA?

14:07 - Mailbag: What’s Your Opinion On Flipping Houses As An Investment Strategy?

A 5 Question Retirement Preparedness Quiz

Want to grade your preparedness for retirement? Here are five key questions you need to ask yourself. Your answers will help determine how ready you are for retirement.


Phone Number: 480-513-1830


Show Notes: 

1:29 - Main Topic: Retirement Preparedness Quiz

1:58 - Do You Know How Much You Have?

3:46 - Do You Know How Much You Spend?

6:05 - Do You Know How Much Risk You Have?

10:20 - Do You Know What You’re Paying In Fees?

12:44 - Do You Know What Your Retirement Income Streams Will Look Like?

16:30 - Getting To Know You: What’s Something You Look Back On And Say, “What Was I Thinking?”

Is Diversification For Suckers?

If you look up quotes about diversification from famous investors, you might come across one from renowned investor Warren Buffet that will certainly raise your eyebrows. It goes, “Diversification is protection against ignorance. It makes little sense if you know what you are doing.” Yet, we’ve always heard about diversification being one of the keys to success for retirement planning. How can these seemingly different ideas both be right?


Phone Number: 480-513-1830


Show Notes: 

1:29 - Main Topic: Is Diversification For Suckers?

2:33 - How Does The Average Person Usually Define Diversification?

4:40 - Charles’ Perspective On Diversification

7:00 - How Much Does Charles See The Average Investor Placing An Emphasis On Diversification

8:00 - Is It Possible To Be Too Diversified?

11:58 - Mailbag: Diane Asks About Self-Insuring For Long-Term Care

Ep 21: The 401(k) FAQs

This episode is all about addressing the most frequently asked questions about 401(k)s.


Phone Number: 480-513-1830


Show Notes: 

1:30 - Main Topic: 401(K) FAQs

1:49 - Taking A 401(K) Loan

4:13 - Roth Option

6:15 - Finding The Right Advisor

10:52 - Mailbag: Sally Asks If She Is Eligible For Half Of Her Ex-Husband’s Social Security Benefit

What Retirees Should Know About Wills & Trusts

People often overlook the estate planning side of preparing for retirement. There are a lot of misunderstandings about trusts and wills and the roles they play in the equation. On this episode, we’ll explore some of the critical questions you should ask about these strategies as you prepare for retirement.


Phone Number: 480-513-1830


Show Notes: 

1:29 - Main Topic: Wills & Trusts

2:03 - Why Are Wills & Trusts Important?

3:52 - How Do You Know If A Will Or Trust Is Right For You?

5:00 - A Will Doesn’t Mean You Won’t Avoid Probate

5:49 - Is A Trust Just For Money?

7:28 - How Much Do They Cost?

8:31 - What Role Does An Advisor Play When Considering These Options?

10:32 - Mailbag: Ian Asks If His Long-Term Care Policy Has Enough Coverage

Eye Opening Stats Showing How Americans Save

Vanguard’s “How America Saves 2020” report is packed with lots of intriguing stats and findings about Americans and how they save for retirement in the crazy year that is 2020 (most of the recent data is technically from 2019 although some figures are current through the Spring of 2020). Let’s look at some of the top takeaways from the study and how you might compare to the “normal” savings behaviors of Americans.

Show Notes: 

1:14 - Main Topic: Statistics On How Americans Save

1:47 - 100 Million Americans Use A Defined Contribution Plan

4:00 - Average Number Of Funds Used In These Plans Are 2.4

5:36 - 34% Of Participants Didn’t Contribute Enough To Meet Their Employer’s Match

6:46 - Is There A Reason To Not Meet An Employer Match?

7:56 - 80% Of Participants Still Had Assets With A Previous Employer

9:26 - 96% Of Those Assets Are Able To Be Rolled Over Into Something Else

11:16 - Tristen Has Asks About How Divorcing Later In Life Might Affect Retirement

This One’s On The House

We get a lot of questions about how the house (or houses) fit into retirement plans. From downsizing to rental properties to interest rates, let’s explore some of the top retirement questions as it relates to all things housing.

Show Notes: 

2:03 - Main Topic: This One’s On The House

2:25 - Pay Off The House, Or Enjoy The Low Interest Rates?

3:30 - Is It Wise To Downsize?

5:14 - Is A Rental Property A Good Idea?

7:06 - What Complications Have You Seen When Handling Real Estate In An Estate, Or Legacy Plan?

8:53 - Taking Care Of Our Bodies As We age

9:57 - Life Is About Contribution

12:52 - Shelby Asks If Retirement Spending Starts To Decrease After The First 5 Years

Longevity Risk

Living a long time isn’t supposed to be a bad thing and it almost seems counterintuitive to categorize it as a risk. But it is. Let’s take a look at how longevity plays a role in a financial plan and have an honest conversation about how deal with the “problem” of living too long.

Show Notes: 

1:12 - Main Topic - Longevity Risk

2:25 - How Old Is Your Oldest Client?

2:39 - Oldest Person In Your Family?

3:20 - Who Is The Oldest Person You Have Personally Known?

4:00 - Why Is Living Long Risky?

7:02 - Have People Prepared For Longevity Appropriately?

9:10 - Client Story

11:00 - Starting The Conversation

15:07 - Millie Says She Was Going To Get Serious About Retirement Within The Next Year, But Wants Out Of Her Job Now

Financial Issues Particularly Challenging For Women

Many financial issues impact us all the same. But, of course, other challenges have varying impacts from person to person because our situations are all unique. Let’s take a look at some of the financial and retirement challenges that are unique to women. We also discuss some rules of thumb and get Charles' take on them.

Show Notes: 

2:00 - Main Topic - Financial Issues That Are Challenging For Women

3:29 - Level Of Engagement Women Have Throughout Retirement Planning Process

5:00 - Spouse That Handled Money Passes Away First

6:49 - Why Do Some Women Find Themselves In A Difficult Situation?

8:14 - Specific Challenges Faced By A Widowed Woman

9:50 - Piece Of Advice For The Husbands

10:42 - Second Topic - Retirement Rules

11:06 - The 10%, 4%, 25X, & The 80% Rule

13:13 - The Rule Of 72

14:06 - The Rule of 2.67

15:14 - The Rule Of 100

Are Complicated Portfolios Necessary?

How complex should a financial plan be? On one hand, a single page plan sounds nice and easy to understand. But is that comprehensive enough if it can fit on one page?

Show Notes: 

2:07 - Headline: The Market Rebounding

5:44 - Main Topic: Are Complicated Portfolios Necessary?

6:19 - What Do You Typically See When It Comes To The Length Of The Financial Plan?

7:11 - Misconception Between Portfolio And The Plan

8:49 - The Rule Of 11

10:22 - Not Every Advisor Is The Right Fit

13:44 - Mailbag: Nancy Asks If She Should Invest In Her Employer’s Stock

Are You Making These Classic Pre-Retiree Mistakes?

There are some financial planning blunders that are interesting to talk about but are quite rare in reality. On the other hand, there are some financial planning mistakes that happen far too often. Let’s talk about the mistakes so many people have made in the past it has made them “classic”.

Show Notes: 

1:13 - Headline: 72% Of American Say They Will Prioritize Financial Planning Once Pandemic Is Over

3:15 - Classic Pre-Retiree Mistakes

4:03 - Mistake #1: Investing Like You’re In Your 20’s

5:09 - Mistake #2: Taking Social Security As Soon As Possible

6:49 - Mistake #3: Focusing On Tax Preparation Rather Than Tax Planning

8:10 - Mistake #4: Assuming The Majority Of Healthcare Expenses Will Be Covered By Medicare

9:15 - Mistake #5: Taking On Additional Risk To Make Up For Lost Time

11:20 - Mailbag: Rork Asks If His Is Getting All The Information He Needs From His Financial Advisor

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