Saving With Silverman

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...

Just because you can’t plainly see all of the expenses you’ll incur during the retirement planning process, that doesn’t mean they aren’t there. We’ll share some of the hidden expenses you might uncover.   Today's Key Points:   2:00 – Mutual funds 2:47 – Variable annuities 3:57 – Inflation 5:43 – Tax increases 6:40 – Leisure activities   For additional financial resources, visit us online: https:/...

When looking for a financial advisor, beware of signs that they are more interested in giving you sales pitches than helping plan your financial future. We’ll share things to watch out for when selecting a professional to help with your money and tell you more about the planning process we utilize with clients.   What we discuss in this episode:  1:38 – Advisor or salesperson? 2:30 – Planning proc...

In retirement planning, there are many things that are completely out of your control. Fortunately, the things that you can control allow you to deal with those things you can’t.   What we discuss in this episode:  1:55 – Market and risk 3:40 – Life span and income 5:23 – Tax rates and future taxes 6:43 – Social Security and income plan   Read more and get additional financial resources here: http...

Creating a customized retirement plan for any individual can mean addressing some unique challenges. We’ll share some scenarios, discuss the challenges presented and share what solutions we recommend.   Read more and get additional resources here: https://silverman-associates.com/saving-with-silverman-podcast        What we discuss in this episode:   1:53 – Age gap 2:48 – Early retirement 4:06 – L...

What are your thoughts on tax refunds, mortgages, macaroni and cheese and Star Wars? Let’s have some fun today and talk about whether these things are overrated, underrated or properly rated.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast     What we discuss in this episode: 0:51 – Tax refund 1:44 – Star Wars 2:30 – Paying of...

If you want a successful retirement, we’re sharing some of the foundational building blocks you need to have in place. For example, is your income plan ready to go?   What we discuss in this episode:  1:15 – Income plan 1:57 – Money that lasts 3:12 – Being unprepared 4:25 – Steps to take 5:38 – Success stories   Read more: https://silverman-associates.com/saving-with-silverman-podcast

Today we’re sharing some crucial financial questions. How do you know how much income you’ll need in retirement? Are you taking too much risk on in your investments? We’ll answer these questions and more.   What we discuss in this episode:  0:44 – How much income will you need? 2:03 – How much money in savings? 3:00 – How much life insurance? 4:19 – How much risk 6:06 – Are fees too high? 7:13 – I...

As a financial professional, there are things that Mark wishes everyone knew and understood about the financial industry. Today he’s going to share some of the tricks that sometimes get played and how to spot them.   What we discuss in this episode:  0:56 – Tricks 3:06 – Fees 3:50 – Risk potential 5:13 – Credentials 7:02 – Taxes   Read more: https://silverman-associates.com/saving-with-silverman-p...

Delayed gratification is a difficult skill to master and that’s just as true with financial matters as it is in the other areas of your life. Let’s talk about some instances where you might be faced with a choice of being satisfied now or satisfied later.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-46-how-delayed-gratif...

Psychologists have determined that retirement is the 10th most stressful event that you can experience in life. Today we’re sharing some ways to proactively deal with that stress.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-45-how-to-deal-with-financial-stress-in-retirement     What we discuss in this episode:  1:06 – L...

In today’s mailbag, we’re answering your questions. Carl wants to know if he can gift $150,000 to his daughter. Laura wonders what she should do with her money after retirement. And Eddie is debating whether to hire a financial advisor.   Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-44-mailbag-gifts-to-children-money-after-re...

Let’s talk about some of the red flags that people can look out for when they’re shopping for a financial advisor. Have you ever met with one of these types?   Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-43-manufactured-anxiety-or-worth-the-worry   What we discuss:  1:00 – Social Security going broke? 2:47 – National debt ou...

Let’s talk about some of the red flags that people can look out for when they’re shopping for a financial advisor. Have you ever met with one of these types?   Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-42-red-flags-with-questionable-advisors   What we discuss:  0:51 – Hammer 2:51 – Oxygen hog 3:55 – Car trunk 5:39 – Empty...

Almost everyone has made investment mistakes at some point. We’ll share how to bounce back from mistakes and avoid making them again in the future.   Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-41-moving-on-from-investing-mistakes   What we discuss:  0:58 – What caused it? 2:07 – Increase savings 3:09 – Recalibrate your goal...

Today we’re opening the mailbag and taking your questions about long-term care insurance, inheritance, and pension options. Is it OK to rely on a promised inheritance? What should you do if you’re too young to retire but are losing your job? We will discuss all of this today.    Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-40...

There are certain retirement planning principles that apply to everyone, regardless of who you are, how much money you have when you’re retiring, or where you live. We are going to discuss some of these universal principles and what you can learn from them.      Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-39-universal-ret...

We talk about financial planning all the time, but plans aren’t concrete. You need to have some flexibility as the years pass. Today, we’ll share how to rebalance your portfolio and why it’s important.     Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-38-why-and-when-to-rebalance-your-portfolio     What we discuss on this e...