Saving With Silverman

Is there really such a thing as having predictable, guaranteed income in retirement? Maybe the question is really “guaranteed by whom?” In this episode, we’ll discuss some of the retirement income sources that people might view as predictable but really aren’t certain.   On today’s show, we’ll share: Is predictable, guaranteed income in retirement really a thing? (1:35) What are some examples of p...

Today’s topic may be a difficult one to consider, but it is a very important one at the same time. If you were to lose your spouse, what steps should you take to manage your finances? In today’s episode, we are going to share some real-life examples and cover the most common questions and challenges we’ve seen clients face after losing a loved one.   On today’s show, we’ll share: What are the main...

Yogi Berra was a sports icon and one of the most quotable people to ever live. And when we look at some of his quotes through the right prism, they can teach us some lessons about financial planning. In today’s episode, we’ll have a little fun with some of these quotes to see what financial wisdom we can pull from them.   On today’s show, we’ll share: I never said most of the things that I said. (...

When it comes to financial planning, it’s OK to admit that you don’t know the answer to something. The real danger is thinking you know the answer to something when you actually have it all wrong.    Today we’re discussing some of the things people think they know, but in reality they really don’t. Even with all the information that’s available to us everyday, there are still plenty of aspects of...

Last year was a rough year in the market, but it’s hard to attribute it to any one particular trend. It was more a confluence of various factors. On today’s show, we’ll review some of the absolute worst days, weeks and years in market history, what caused them and what we learned.   On today’s show, we’ll share: What happened on Black Tuesday? (2:03) How did the Dot Com crash affect us? (2:41) Wha...

It’s time for another mailbag episode, and we have some great topics to discuss. This episode could really help if you’re looking to improve your financial situation and prepare for retirement. We will discuss whether to take expensive trips, how to prevent your children from having hurt feelings over your will and when to pay extra on your mortgage. Listen to hear some of the questions our listen...

When you think about the word “generosity,” what comes to mind? Maybe money or time spent helping others. We’ve all known generous people in our lives – and those who didn’t have this trait – but generosity can take many forms.   On today’s show, we’ll share some examples of generosity and how that can work with your overall financial plan.   On today’s show, we’ll share: What does it mean to be g...

Almost everyone likes the idea of a healthy bank account. But can there be too much of a good thing?   We’ll explain some of the common reasons people want cash on hand and why it might be counterproductive to have too much in your checking or savings account.   On today’s show, we’ll share: What are some common needs for cash? (0:54) How much cash should I have? (2:17) Why do some people keep so...

The idea of a Roth conversion is intriguing to a lot of people. For some, it can be a great strategy to enact, but others might not know what it is. Today we’ll share what a Roth conversion is, why it’s worth considering and some common mistakes we see people make with them.   On today’s show, we’ll share: What is a Roth conversion? (2:17) Why is a conversion helpful for people who make a lot of m...

Today we’re chatting about the characteristics of financial advisors. Everyone has different personalities, but what should you look for in an advisor? How much should likeability and listening skills play into the person you choose? How much emphasis do you place on things like trust, areas of expertise, and the ability to solve problems? You want to find someone who resonates with you and can he...

Today’s show combines two fun topics – finances and football. Believe it or not, planning for your financial future has some similarities to the sport of football. In retirement planning, some people try to be successful without having a coach at all. Others keep the same coach that they’ve had for years, even though things aren’t working out with him.  We’ll explain why you need to design a portf...

We’re opening up the mailbag today to answer your questions. We got a lot of good feedback, including questions about taxes in retirement, using investments to pay for a car and more.   If you have a question, you can submit it on our website . There’s a high likelihood you’ll hear your question answered on air. We’d love to hear from you.   On today’s show, we’ll share: Do you have to pay taxes i...

If you have a financial advisor or are thinking about getting one, you might be wondering how we are paid. There are several different ways that financial advisors can be paid, but which way is the best for you?   Other than fees paid to an advisor, what are some of the other costs that you might encounter in the financial world? We’ll explain some of the things you need to know about finances and...

The doctor is in, and we’re here to share some common financial diseases and how they can affect you. From “Inflation-itis” to “Old Fogey’s Disease,” we can spot the trouble areas in your financial life.   Whether you suffer from “Acute Portfolio Riskopathy” or “Nursing Home-Atosis,” we are here to help.   On today’s show, we’ll share: What the causes of Acute Portfolio Riskopathy are and why you...

What can the game of golf teach us about retirement planning? How does hitting a hole-in-one correlate to your finances? And how is a caddy like a financial planner?   We’ll answer these and other questions on today’s show. If you love golf and getting your money and retirement in order, today’s show is for you.   On today’s show, we’ll share: Why a hole-in-one is not what you want to shoot for in...

If you take a close look at most folks’ financial situations, you’ll find that it’s almost scandalous how badly their financial matters have been handled. Let’s talk about the steps you should take to create a scandal-free retirement.   From consumer debt to leaky budgets, we’ll explain what you can change to have a scandal-free retirement.   On today’s show, we’ll share: Why you need to impeach c...

Some people are nervous about the idea of meeting with a financial advisor because they don’t know what to expect.   Will they be sold something they don’t need? Will they be chastised for not handling their money well enough up to that point? We’ll take some of the mystery out of that first visit on this episode.   On today’s show, we’ll share: How to get prepared for your first visit with a fina...

Let’s talk about some of the areas of your financial life where you might be flirting with disaster and don’t even know it. Disaster and retirement are not two words you want to be associated with each other.    Key topics on this episode:  2:41 – Widowed spouse out of the loop 5:40 – Market crash forces work 7:37 – Family legacies and long-term care 9:16 – Social Security   For more, visit us onl...

Cognitive biases are fascinating, especially as it relates to money. Find out what these biases are and how to implement more rational thinking into your financial life.   Key topics on this episode:  0:58 – Self-serving bias 3:05 – Curse of knowledge 4:27 – Dunning-Kruger effect 6:52 – Naïve realism 8:25 – Confirmation bias   For more, visit us online: https://silverman-associates.com/saving-with...

We made a list of some financial proverbs that we thought might be able to help you in your financial situation. Find out what you can glean from these wise words.   Key topics on this show:  2:39 – Bird in the hand 4:02 – Rising tide 4:38 – Eggs in one basket 5:43 – One man’s trash   For more financial information, visit us online: https://silverman-associates.com/saving-with-silverman-podcast  

Everyone has a different vision for what retirement will look and knowing how you’ll spend your time will help you build your retirement plan. Today we’ll look at what retirement commonly means to retirees in Arizona and Mark will also share his thoughts on the rise of inflation.   Key topics on this episode:  0:39 – Mark’s thoughts on inflation 2:42 – Want to have nothing but fun 4:23 – Want to d...

Most people have a junk drawer at home with rubber bands, clothespins, highlighters, a tape measure, and a pair of scissors. But most people have a financial junk drawer, too. We’ll share what’s often in there and how those things might be put to better use.   Key topics on this show:  1:52 – Life insurance policy 3:24 – Will or estate plan 4:34 – Social Security estimate 5:26 – 401k statements 6:...

Today we’re sharing some details you might be overlooking as you plan for retirement. For example, have you thought about whether you’ll need to support your parents or children? We’ll share more missed details on today’s show.   Today's Key Points: 0:43 – Parents and kids 1:47 – Quitting your job 4:25 – Major purchases 5:31 – Death of spouse   For additional financial resources, visit us online:...

Should you retire early If you believe a large inheritance is coming your way? How much tax should you be withholding? Should you buy an investment property with your parents? We’re answering your mailbag questions today.   Today's Key Points: 0:36 – Federal crimes 2:00 – Inheritance 3:53 – Withholdings 5:05 – Property with parents   For additional financial resources, visit us online: https://sil...

A lot of people have questions about their retirement plan, but you might be asking the wrong questions. We’ll share some common wrong questions and what better questions might be.   Today's Key Points: 0:46 – How much to save? 1:38 – Long-term care insurance 2:49 – The highest return 4:36 – Fees 5:55 – Taxes   For additional financial resources, visit us online: https://silverman-associates.com/s...