Retirement Planning - Money Not Math

Gratitude! Money Not Math #98 Good luck Prowlers on your homecoming and more importantly the Gullingsrud family. You can donate @TRFTDC on Venmo. What are you feeling grateful for today? What will you do with the opportunities available to you? Does anyone else want to commit to sober October with me? What topics would you like to see covered in future Money Not Math conversations? Podcast referen...

Core Values= Integrity, Learning, Generosity, Relationships, Legacy, and Gratitude. 5 Stones to building a healthy and successful life= Family, Faith, Financials, Fitness, and Fun. It isn't all about the money. Money is just a tool to help us build the life we want for ourselves. #moneynotmath #corevalues #healthy #success #life #money #planning #integrity #learning #generosity #relationsips #lega...

Confused about retirement savings plans? Here are potential options for you. Money Not Math 95 https://youtu.be/rFrdDHg6Mgg “More than half of U.S. workers between the ages of 40 and 73 have less than $50,000 set aside for their golden years, a survey from the Insured Retirement Institute found. Nearly 6 in 10 save less than 10% of their income.”- https://www.cnbc.com/2021/09/06/how-to-choose-the-...

David Blanchett's 6 Predictions for Retirement Planning in 2021. Money Not Math 94 1) The search for yield will continue. a. Is your retirement plan prepared for if taxes go up and the stock market goes down? How is your retirement plan going to keep up with inflation? 2) The robos will keep rising. a. Would you rather be a spreadsheet to an online app or build a personalized plan with a personal...

5 Ways the Pandemic is Affecting Retirement Planning and what we can learn from it. Money Not Math 93 1) Stress levels are high. 2) Less saving for retirement. 3) Emotional decision-making. 4) Forced early retirement. 5) Less spending. What we have learned or been reminded of= save in ways where you keep access, liquidity, use and control of your money. Plus, protect yourself before it is too late...

Will Biden’s tax proposal negatively affect your retirement? Money Not Math 92 “this plan would reduce the tax benefit of traditional retirement accounts for those earning above $80,250 but under $400,000, violating Biden’s tax pledge to not raise taxes on earners below the $400,000 threshold.” YouTube: https://youtu.be/4mHZZk53v0A Article Referenced, https://taxfoundation.org/bidens-proposal-woul...

Details and Analysis of Democratic Presidential Nominee Joe Biden’s Tax Plan. Money Not Math 91 Have you considered how his tax plan could affect your business and future retirement planning? Some of the highlighted details= è Raise tax revenue by ~$3.3 trillion over the next 10 years. è Reduce the United States GDP by 1.62%. è Reduce the top 1% of taxpayer’s after-tax income by about 7.7%. è Redu...

There are multiple strategies to get to the world series (retirement). Are you using the best options available for you based off your personal beliefs and goals? Money Not Math 90 The Tampa Bay Rays and LA Dodgers got to the world series through completely different strategies that worked well for them. The key is they used strategies that made sense for their financial situation and goals. Witho...

Should I pay off debt faster or save more earlier? Money Not Math 89 The importance of liquidity, use and control of your money for unexpected life events and to take advantage of wealth creating opportunities. Have you considered the difference between compounding and amortizing interest? In this example 5% compounding over 182 months is about 35% more efficient than paying off a 5% debt faster....

Over 600 podcast listens! Thank you everyone. What a dumpster fire of a debate and Twins game yesterday. How comfortable are you letting your financial future be dependent on things you cannot control? Money Not Math 88. Try not to worry about what has happened in the past. Instead focus on taking positive steps towards the future.

Are you confident your family would survive financially if you or your spouse unexpectedly died? Life insurance awareness month. Money Not Math 87. Is it important to you to protect your family while you are alive? If yes, isn’t it equally as important to protect them once you are gone? “Nearly 1 in 3 families said they would face financial challenges within a month if the primary wage earner died...

Are you one of the 4 in 5 Americans who Lack Retirement Planning Knowledge? Money Not Math 86 Are you willing to take the “2020 Retirement Income Literacy Survey” they refer to (link below) without cheating and send me your score? è I give a few clues in my video/podcast. Can you guess what score I got on the survey they referred to? Give me a call if you have questions or would like to discuss an...

How are you planning around your current or future social security benefits? Money Not Math 85 Do you believe social security beneficiaries get a cost of living adjustment in 2021? YouTube video: https://youtu.be/0YTV555V9hc Article referenced: https://www.financial-planning.com/news/senior-group-predicts-1-social-security-cola-in-2021

How to Survive as a Retiree in a Down Market. Money Not Math 84 YouTube Video https://youtu.be/QV9PSkqLtfU Article I reviewed https://money.usnews.com/money/retirement/401ks/articles/how-to-survive-as-a-retiree-in-a-down-market

5 Crucial expenses to consider when planning for your retirement! Money Not Math 83 1) Health Care 2) Taxes 3) Long-term care 4) Providing family support 5) Not having access to your money when you need it YouTube link for this conversation: https://youtu.be/dU8iSJVPCjg https://www.usatoday.com/story/money/2020/07/29/making-retirement-plans-4-crucial-expenses-to-consider/112417398/

What will be your largest expense or cost in retirement? Money Not Math 82 Will it be your lifestyle, traveling, golfing, your house or…Will it be taxes? YouTube: https://youtu.be/u_zjyJhOB8Y Plus, some retirement planning tips from Man’s best friend. https://www.forbes.com/sites/stevevernon/2020/07/10/retirement-planning-tips-from-mans-best-friend/#496b0b21180f

Raising kids and planning a paternity leave resolution. Money Not Math 81 https://youtu.be/AbUtmD_4Zj8 Do you have a family or financial goal you would like to achieve but have not written down yet? I strongly recommend it and am here to help if you want to build a financial plan and are looking for someone to trust. Are investing in 529 plans the best option for you? Are you comfortable with your...

How would it feel to lose 25-100% of your income? Money Not Math 79 Can you afford to lose all or some of your income due to unexpected life events? It is time to talk to someone you trust about your options to protect yourself, your family, and your money? Give me a call today to learn more. YouTube https://youtu.be/6Pzevs2JWNE

How much of your retirement wealth do you want to lose to taxes? Money Not Math 78 Clip 7 Do you want all your retirement income subject to income taxes, some of your money subject to taxes in retirement, or none of your retirement subject to taxes in retirement? Do you want to be Larry, Moe or Curly in retirement? What is more important, your rate of return or your rate of distribution? How much...

Do you want to be a spender, saver, or wealth creator? Money Not Math 78 Clip 6 I am a firm believer in Moral Capitalism, how about you? Link to this clip: https://youtu.be/NclPng0DNQs Links to the other clips: Tate flips the script and interviews me about What I do and WHY. Money Not Math 78 Clip 1 https://youtu.be/NRxmNXWsJWM Why did I choose financial planning as my profession? Money Not Math 7...

What are the bases that need to be covered to protect yourself, your wealth, and your family? Money Not Math 78 Clip 5 I believe my job is to educate you on what your best options are well enough that you can make confident decisions. I am sure I forgot more than one, but one important protection topic that I forgot to mention is long term care. Link to this clip: https://youtu.be/vcDzNd8mSos Link...

Who do I provide the most value to? Who can benefit the most by working with me? Money Not Math 78 Clip 4 Do you believe what I believe? Are you motivated to be successful? Are you willing to take action to improve your life? Are you open minded to learn new things and be different than your friends? Are you a genuinely good person that cares about your family? Link to this clip: https://youtu.be/...

What does it look like if you meet with me for the first time? How does the conversation start and how do we determine if we should work together? Money Not Math 78 Clip 3 How I determine if potential clients believe what I believe using the retirement pie and retirement mountain analogies. How much of your pie do you want to share? What side of the mountain do you believe is more important? Link...

Why did I choose financial planning as my profession? Money Not Math 78 Clip 2 Protection is not sexy, but it is just as important as the offensive side of your financial planning. It is not just what you make, it is what you keep. Link to this video: https://youtu.be/BmfGFHIUi7c Links to the other clips: Tate flips the script and interviews me about What I do and WHY. Money Not Math 78 Clip 1 htt...

Tate flips the script and interviews me about What I do and WHY. Money Not Math 78 Clip 1 Link to this video: https://youtu.be/NRxmNXWsJWM Links to the other clips: Why did I choose financial planning as my profession? Money Not Math 78 Clip 2 https://youtu.be/BmfGFHIUi7c What does it look like if you meet with me for the first time? How does the conversation start and how do we determine if we sh...