Retirement Talk Podcast with Laura Stover

Diversification is a risk management strategy that mixes a wide variety of investments within a portfolio. We'd venture to guess that everyone who is listening to this podcast is very familiar with this concept, but it often gets confused with asset allocation. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will unpack diversification on this show and do so using the analogy of ice c...

We know there's always another market crash in the future, but should we be worried that it's happening soon? An economist named Henrik Zeberg thinks so. He expects a massive blow-off top for equities in near future, and his belief is that the stock market could be headed to one of its biggest crashes in the coming months because the strength of the dollar is on its way down. In this episode, Laur...

You'll never be able to predict the movement of the market but understanding the cycles will make you a better investor. The market goes through different phases and building out a purposeful portfolio will help you stick to your plan through the ups and downs. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will breakdown a recent article about stock market cycles and how to approach...

Many times we find that retirees only look at that investment pillar with the traditional assets in mind. They focus only on investments and ignore critical areas that also need attention.   In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will break down an article on an area of diversification that could qualify for income planning, along with tax planning and estate planning. People...

We all have our own savings goals and dreams of retirement, but difficult markets and high inflation can be quite discouraging. Sometimes it feels like you'll never achieve what you've hoped for. So what's the secret to building wealth and reaching those goals? In this episode, Laura Stover, RFC® is joined by Darlene Tucker, CFP® and Kyle Davis who will break down an article about a path to $10 mi...

Being flexible with spending absolutely matters in financial planning and it often gets overlooked when people step into retirement. Most people look at their budget and the assets that they've accumulated and that's where they stop. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will examine an article by Dr. Wade Pfau that discusses variable spending strategies. Whether it's inflat...

Our relationship with money is much like the other emotional relationships we have in other parts of our lives. We tell ourselves we're done making the same types of mistakes but end up repeating those same behaviors the next time the situation arises. The same thing happens in terms of how we invest our dollars and how we act when the market isn't going up. In this episode, Laura Stover, RFC® and...

We work with people that have investing questions all the time but there are two that investors often boil it down to. They want to know how long they need to be invested to be sure they don't lose money and how long they need to stay invested to make sure they do better than an alternative investment. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will explain how a successful inves...

The market has shown some signs that it might be turning around, but we've seen quite a bit of up-and-down over the past few years. These fluctuations have created some nice gains at times for investors, but a lack of tax planning can keep you from maximizing your financial gains. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will delve into the power of tax harvesting and the role...

A year like 2022 doesn't come around too often but those significant market corrections we saw in both equities and bonds made many people begin to wonder about the effectiveness of the traditional 60/40 investment mix. Some people are even saying that there is no longer a use for this portfolio structure. To truly evaluate whether that's accurate, you have to first understand how to build a prope...

The famous boxer Mike Tyson once said, "Everyone has a plan until they get punched in the mouth." He meant it about his opponents, but we can apply that same idea to financial planning in the middle of a volatile market. How will you react when things first get difficult? Should you trust your instincts or stick to a well-defined process that you already put in place? In this episode, Laura Stover...

Reaching retirement doesn't mean you can put your plan in cruise control because plenty of risks remain. One that all recent retirees are dealing with is the sequence of returns risk. This is an overlooked risk when someone is stepping into retirement that doesn't get nearly enough attention, in our opinion. The five years before and the first five years in retirement are the most critical because...

For many people, the goal in life is to have enough wealth that you can pass it on to people or organizations you care most about, and your advisor should be a key partner in helping you with that estate planning. However, not every financial professional is equipped to help you secure your legacy and give you that peace of mind. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will di...

We spend most of our life saving and investing to accumulate as much wealth as possible before retirement, but there's not nearly as much thought and research given to how you take that money out once you're in retirement. Decumulation, in our mind, is one of the most important planning challenges because the fundamental nature of decumulation is much different from accumulating assets. In this ep...

When things are down, everyone's risk profile gets much more conservative. Emotions shift as the market does, and we spend a lot of time consulting clients to help them keep balance. One of the products that we discuss more in this type of environment is the fixed index annuity, which people often love or hate. FIAs are designed as competition to banking products, and they're built to help make su...

Americans have been falling behind on retirement planning for some time now, and the past two years have only increased the difficulty to save money and grow a nest egg. This recent trend emphasizes the importance of proper planning, and we want to share some of the best retirement strategies to consider in 2023. Much of what Laura Stover, RFC® and Michael Wallin, CFP® will discuss in this episode...

If you go back to October of 2022, you'll find the worst 12-month period ever for bonds. With the pressure on the economy, bonds struggled right alongside many other investments. The last year showed us many investors move to bonds during periods of volatility, and many of those same people couldn't understand why bonds deteriorated and values declined. Just three years earlier in 2019, the bond m...

For the vast majority of retirees, there will come a time when the IRS comes calling and you're required to start taking money out of qualified retirement accounts. These required minimum distributions (RMDs) are a great planning opportunity and a chance to have some control over taxation, but you need to be prepared ahead of time. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will...

It's that time of the year where taxes become top of mind as people look through income over the past year to get their filing in order, but taxes need to be at the forefront of your financial planning throughout the year. The problem is tax planning isn't simple. It takes years of experience and education to have a thorough grasp on what you owe, especially as your income sources expand.  We want...

A declining market will make any retiree uncomfortable, and it could put your future in jeopardy if you haven't thought through your withdrawal strategy. Many retirees struggle to shift their mindset from accumulation to distribution so let's talk about how to determine how much you should be taking out of your accounts each year in retirement. In this episode, Laura Stover, RFC® and Michael Walli...

The recent passing of SECURE Act 2.0 brought about a long list of planning opportunities, but the change in age for required minimum distributions will give advisors a chance to think outside the box on RMD strategies. Now that the age has increased to 73, retirees and pre-retirees have even more time to evaluate options to start reducing retirement accounts in the most tax efficient way possible....

The start of 2023 brought us another round of retirement changes with SECURE Act 2.0 officially taking effect and there are a number of important provisions that retirees need to be aware of.   In this episode, Laura Stover, RFC® and Michael Wallin, CFP®  will take you through the changes they've identified as being most impactful for retirees and make sure you have a good understanding of what th...

Investors use rate of return to make decisions and evaluate performance all the time, but they often get misled by the average return. With the market showing some positive signs to start the new year, this is a timely topic to discuss on the podcast and we'll do that by exploring a Kiplinger article about rate of return that we featured in our Weekend Brief.   Laura Stover, RFC® and Michael Walli...

Despite seeing a few positive days to begin the new year, investors are still in the midst of the longest bear market in nearly 15 years and plenty of economic doubt and uncertainty remains in 2023. This sustained bear market has made investors weary and wondering what they need to do to not only survive, but thrive in these difficult conditions.   Laura Stover, RFC® and Michael Wallin, CFP® will...

No matter how experienced you are with money, there's always room to grow and learn. It's a characteristic you'll find in the most successful people, including one of the greatest investors of all time, Warren Buffett. Today's show will focus on the life and career of the man born in the years following the Great Depression, who displayed his entrepreneurial drive at an early age and turned that i...