Financial Symmetry: Balancing Today with Retirement

Many who approach retirement view it as the ultimate goal, but you could have 30+ years to experience the retirement you've worked to build.  While much of retirement planning is focused on the numbers, people often fail to intentionally plan out how they'll spend their time. In this episode, we explore some common retirement pitfalls and then ten stepping stones to help us overcome challenges you...

Many investors have been tempted to invest more, if not all, of their portfolios in the S&P 500 given the incredible run it's had over the last decade. But today we are talking through five reasons why you should consider not making a concentrated investment only in the S&P 500.  Don't let recency bias rule your decision-making on the road to your ideal retirement. **** 📬 Sign up for the Advisor...

One of the biggest financial disasters that people can experience in retirement is divorce. On this episode of Financial Symmetry, Grace Kvantas chats with licensed marriage and family therapist, Lesli Doares. Lesli shares warning signs to look out for, misconceptions about keeping finances separate, and why couples should seek marriage counseling in retirement. Your marriage affects every aspect...

If you have rollover IRA accounts and want to make a backdoor Roth IRA contribution, this episode is for you. There are several steps involved to handle this strategy in the right way including understanding how you roll the IRA accounts to your 401k. Today we walk through five considerations you should think through before you implement a strategy to complete your Backdoor Roth contributions. ***...

In our usual episodes, we aim to arm you with a particular insight or strategy that can help you inch closer to your ideal retirement.  But, with todays show, we want to close the year by providing a list of 15 surprising financial facts about the year that you could share in a conversation with a friend or family member. We also pay tribute to the great investor Charlie Munger, by providing a few...

If you are planning on retiring before age 65, there is no doubt that you have had this question. What do you do about health insurance?  In the United States, the health insurance landscape is ever-changing and takes quite a bit of planning.  Many people even feel anchored to their jobs because of the prohibitive costs of health insurance. However, there are options for healthcare before age 65....

Taking advantage of tax planning opportunities before year-end may benefit you this year while also lowering your lifetime tax rate.  Paying more taxes now to lower your lifetime tax rate may seem unconventional, but if you are serious about building wealth, this episode may include a strategy for you. Listen in to hear ten tax strategies you could use on the path to your ideal retirement.  ****...

On the journey to reach your ideal retirement, stock options can be a valuable tool to have in your arsenal. However, it's easy to make mistakes given most people don't have a class in high school that provides pointers on how to handle when they vest. There are many things to consider with stock options: the different types, timing deadlines, tax consequences, and the leverage involved. Since it...

There's so much we can overlook with retirement plans. Here at Financial Symmetry, we are constantly finding ways to help you be aware of retirement opportunities and rules and improve your wealth.  On this special Halloween-themed episode of Financial Symmetry, Allison has come up with some retirement plan horror stories to spook you. Listen in to ensure that these horrors don't ruin your retirem...

If you are a long-time listener you know that we like to go through the nuances of financial planning that may be valuable to you.  In this episode, Allison and I take a look at net unrealized appreciation (NUA). Listen in to learn what it is, who could benefit from it, and the benefits and pitfalls of using NUA. You won't want to miss out on hearing one of our classic fictional case studies invol...

When it comes to the question of rolling over a 401K or 403B to an IRA, many people fear making mistakes. It's true, that retirement account mistakes can be costly. On this episode, we'll explore the options you have, the factors to consider, and the reasons you should and the reasons you shouldn't roll over your employer-sponsored retirement account. Outline of This Episode [3:15] The 6 options y...

Investing is simple but not easy. To that end, what are the impacts if you do a poor job managing your investments? Several studies from Vanguard and Morningstar have attempted to quantify how behavioral coaching can impact your savings. The numbers settle around 1.5-2%/yr. That may not sound like much, but could equate to millions of difference over 30+ years of savings.  On this episode, we cont...

Many people who reach out to a financial advisor simply seek help creating a financial plan. A financial plan can get you on the right path to financial freedom. However, there are limitations to creating a one-time financial plan.  In this episode, a few of our wealth advisors discuss how wealth management works from the tax planning, retirement planning and risk planning perspectives.   ***** 🎥...

So, you inherited an IRA–now what? The rules surrounding inherited IRAs are more complicated than you think, so if you have already inherited an IRA or expect to in the near future, we are breaking down how you should think about making withdrawals. In this episode, you'll learn the three types of beneficiaries and the six questions you need to ask yourself when you inherit an IRA. ***** 🎥 See vi...

If you're a Modern Family fan, you should enjoy today's episode.  Today, we're diving in the mistakes made when we make assumptions about our IRA beneficiary forms.  Many people don't realize this but their IRA has the opportunity to be the star player of their estate plan.  In this episode, we walk through real world examples, to help you take steps now to avoid similar pitfalls in your own lives...

The behavioral and emotional side of financial planning takes precedence when planning for our future. I see this play out frequently in the form of anchoring to a perceived value we've grown accustomed to, based on prior experience. This "value"; however, can unfortunately lead to decisions that damage the success of our financial plan. Outline of This Episode [1:40] Anchoring to a dollar amount...

Today estate law attorney, Adam Tarsitano, joins us to discuss how you should think through some commonly misunderstood areas of your estate plan. Listen in to learn why you may not look forward to the sunset in 2026, the difference in various trusts, and whether you should open a trust to avoid probate. ***** 🎥 See  a video recap 📬 Tips each month to help you Enhance Your Today and Enrich Your...

Summer is here! That means it's time to brush off the bookshelf and get reading. We have a few book ideas to enhance your reading list. If you are looking to improve your financial life or even just enjoy a light beach-read you won't want to miss this list. Outline of This Episode [0:55]  Never Split the Difference [5:20]  The Gap and the Gain [9:55]  Simple Wealth, Inevitable Wealth [12:52]  Hell...

Most of us feel like we have a sound process for investing, that is until curveballs are thrown our way. Then, emotions like envy, greed, and fear take over, making us feel like we need to abandon our long-term investing process for the short term. We do this by taking impulsive actions like:  Timing the market Buying what's hot Selling what's plunging However, the investors who do well, in the lo...

What can hockey teach us about pursuing your ideal retirement?  As we watched our Carolina Hurricanes progress in the Stanley Cup playoffs, we were reminded of three hockey strategies that are also vital in fulfilling financial planning outcomes.  And despite the early exit of the Canes in the Eastern Conference Finals, this hockey-themed episode can still assist you in the pursuit of your ideal r...

Are you the type of person who loves surprises? One surprise you probably don't enjoy is having to pay more taxes than you anticipated.  Unfortunately, taxes are a necessary part of life. The best thing you can do to ensure that you aren't caught off guard at the end of the tax year is to prepare throughout the year.  On this episode of Financial Symmetry, Allison Berger and I review 9 ways to pre...

Many of our clients ask for financial books and other resources they can share with their loved ones to improve their financial literacy. When young people are armed with financial knowledge they make smarter financial decisions that will ultimately pay off in the long run. When young adults are just getting started, financial information is best shared in bite-sized pieces which makes a 30-minute...

As you plan to live your ideal retirement, you may want to share your good fortune with others who are less fortunate. 🎥 See  a video recap here Giving is incentivized through the tax code, so being charitably inclined can also help to reduce your tax liability. In retirement, there are many ways to map out your charitable giving to take full advantage of the tax benefits. This is why, we discuss...

Have you ever spent hours trying to fix something that, with the right tools, a professional could fix in five minutes? We've all been there. But it's often difficult to fully appreciate the time, effort, and in some circumstances the cost it could save you to enlist help earlier in the process. In today's episode, we'll explore six steps that are available to augment your lifetime savings. Press...

If you have been watching the news lately you may be wondering if your cash is safe. Watching the country's 16th largest bank collapse causes people to question whether the banking system is set up to ensure that funds are accessible.  On this episode of Financial Symmetry, we'll discuss what happened to Silicon Valley Bank, examine how much cash you really need, and explore options for managing y...