The Importance of Professional Guidance in Retirement Planning

Today's conversation revolves around the rising costs of groceries, gas, and everyday expenses, and the need for a solid income strategy in retirement. The hosts discuss the importance of evaluating and adjusting income plans to keep up with inflation. They also explore the outdated 4% rule for ret…

The Impact of the Election on Finances

Steve and Derrick discuss the importance of tuning out the noise and focusing on what you can control when it comes to financial planning. They emphasize the need to have a plan in place and not let fear and uncertainty drive your decisions. They also discuss the impact of the upcoming election on …

Taking a Holistic Approach to Retirement Planning

The importance of diversification, the impact of market volatility, the benefits of annuities, understanding Social Security, and strategies for maximizing retirement income. Steve and Derrick emphasize the need for a holistic approach to retirement planning and highlight the expertise of the Hoyl …

Preparing for Potential Changes and Uncertainties

Episode Takeaways:  Market volatility is inevitable and will occur multiple times during retirement, so it's important to have a proper retirement strategy and diversification. Being proactive in retirement planning is crucial, and waiting for things to happen and then reacting is not a good strate…

The Myth of the Magic Retirement Number

Many Americans plan to retire in their early 60s, but this may not be a wise decision due to financial considerations. Leaving work at 62 means having to pay for medical bills until Medicare kicks in at 65, and even then, Medicare doesn't cover everything. Retirees often overlook the Medicare gap, …

Maximizing Tax Benefits: The Benefits of Roth Conversions

Consider doing a Roth conversion before the expiration of the Trump tax cuts to take advantage of lower tax rates now. Plan for tax-free income in retirement by strategically converting a portion of your retirement nest egg to a Roth IRA. Be proactive in preparing for potential changes to Social Se…

Taking Control of Your Financial Future

Planning for retirement and taking control of your financial future is crucial, especially during uncertain times like an election season. It's important to have a proactive approach and not let external factors dictate your financial decisions. Market crashes and downturns are inevitable, so it's …

Managing Fees and Fund Selection in 401k Investments

The conversation discusses various topics related to retirement planning, including the impact of the Dow Jones surpassing 40,000 on 401k investments, the importance of understanding fees and fund selection in 401ks, the potential for interest rate hikes and their effects on the economy, the challe…

The Pitfalls of DIY Retirement Planning

Planning for retirement is essential for financial success and peace of mind. Many people in their 50s feel they will never be able to retire because they haven't consulted with financial professionals. Having a financial plan and working with a professional can provide a path to financial success.…

Retirement Planning Pitfalls: Why DIY Isn't Always the Answer

In this episode Steve and Derrick delve into the challenges of do-it-yourself (DIY) approaches to retirement planning. Inspired by their own DIY home repair stories, they draw parallels to the complexities and potential pitfalls of managing your own retirement. Discover why relying solely on Googl…