Social Security: Timing is Everything
Mike discusses the complexities of retirement planning, focusing on social security benefits. He emphasizes the importance of understanding individual circumstances when deciding when to claim social security, the potential benefits of delaying claims, and the tax implications that can affect retir…
Why You Need a Financial Coach
Mike dives into the disconnect many people have regarding the time spent planning vacations versus planning for retirement. He explains the role of financial advisors and the value of comprehensive financial planning, which includes understanding taxes, estate planning, and income management. Mike…
Year-End Financial Planning Essentials
Mike discusses the importance of year-end financial planning, including portfolio reviews, insurance checks, and charitable giving. He highlights the significance of setting goals for the upcoming year, encouraging listeners to start planning for their future aspirations. Need a second opinion on …
Economic Downturns: What Retirees Need to Know
Mike discusses the implications of recent interest rate cuts by the Federal Reserve. The discussion highlights the importance of understanding economic indicators, preparing for potential market corrections, and creating a secure retirement plan that can withstand economic downturns. Mike emphasiz…
Simplifying Your Retirement and Financial Future
Mike discusses the importance of comprehensive financial planning as individuals approach retirement. He draws parallels between the convenience and holistic approach of Costco and his financial planning services, emphasizing the need for a one-stop solution for income, taxes, estate planning, risk…
Tax Loss Harvesting: A Year-Round Strategy
Mike discusses the importance of having a comprehensive retirement plan beyond just a 401k. He delves into the concept of tax loss harvesting, explaining its relevance throughout the year, not just at year-end. Mike elaborates on the different types of investment accounts and their tax implication…
Social Security Breach: Protecting Your Personal Information
Mike discusses the recent data breach affecting three billion individuals, emphasizing the importance of understanding the dark web and protecting personal information. He provides insights on how to check if one's data has been compromised and offers practical steps to safeguard against identity t…
The Role of a Financial Advisor in Retirement Planning
In this conversation, Mike discusses the importance of having a proper financial plan in place for retirement. He uses the analogy of music to explain the different approaches to retirement planning, comparing the disciplined and rule-following classical musicians to the more improvisational jazz m…
Being Prepared For Long-Term Economic Downturns
Mike discusses the importance of preparing for a recession and offers advice on how to recession-proof your retirement. He emphasizes the need to minimize discretionary spending, raise your cash position, and de-risk your future portfolio. Mike also highlights economic indicators to watch for, suc…
How Risk Tolerance Can Change Over Time
Mike discusses the importance of understanding risk in retirement planning. He emphasizes the need for a balanced risk portfolio that takes into account risk tolerance, risk capacity, and risk requirement. Mike explains that risk tolerance can change based on market conditions and personal circums…