The Retirement Show: Your Life, Your Money with Scott Sierens

You've worked hard for your savings and investments, and we've found that most people want to make sure that those funds pass on to someone that's important to them when they pass.   In this episode, Scott will address five, unfortunately, common beneficiary mistakes. These could cost you and your loved ones dearly, and end up spoiling an otherwise well done retirement plan.   Here's more of what...

On this episode the Your Life, Your Money Podcast, Scott Sierens delves into why he believes there are three key questions that everyone should be asking themselves in order to ensure that they are properly preparing for retirement.   These questions cover some of the most critical elements of the retirement planning process and are essential for anyone looking to secure their financial future. By...

Market volatility became the norm in 2022. Are we in for more of the same in 2023? In this episode, we'll share some of the predictions being made by some big industry names for the upcoming year. Here's some of what you'll learn in this episode: Here are the expert predictions for 2023. (2:13) What do I think about these predictions? (7:48) Here's what we SHOULD be planning on. (10:11) How should...

In the first part of this two-part series , we detailed the changes coming to required minimum distributions and Roth accounts. In this episode, we'll work our way through more of the planning items in SECURE Act 2.0, including spousal IRAs, qualified charitable distributions, catch-up contributions, emergency savings accounts, and required minimum distributions.   Here's some of what you'll learn...

Another round of retirement changes are on the way after President Biden signed a spending bill in December 2022 that included the SECURE Act 2.0. Retirees and pre-retirees need to understand what this legislation means, how it might impact you, and what planning opportunities this could open up.   Here's some of what you'll learn in this episode: Background on the original SECURE Act and what tha...

It's time to open up the mailbag again and answer some of your financial questions on the podcast, and we have a few really good ones to tackle today. Whether you're in retirement or getting close, there will be some good information that we think you'll relate to with your own financial planning. So a few of the things we'll address in this episode are whether or not you need life insurance in re...

Having a million dollars saved for retirement isn't providing the type of confidence that it used to for pre-retirees, and many people feel like they'll need a little luck to be successful in retirement. Is that really the case and what's a more realistic target number today? We'll take a look at a recent article detailing the fears many Americans have and talk about how you can combat some of the...

Today's show is all about answering your financial questions and we have four great ones for you that cover a few important topics. We're going to answer questions about annuities, which is a product that not everyone understands. We'll also talk about what to do if you come into a surplus of income, whether that's from a work bonus, inheritance or real estate transaction. And finally, we'll discu...

Saving in your 401(k) can be an easy and painless way to build your retirement savings. But because it's so easy and painless, it can also be easy to ignore for long periods of time, which often leads to mistakes. In this episode, we'll cover at least the top 5 mistakes people make in their 401(k)s.   Here's some of what you'll learn in this episode: Why you should always take advantage of the com...

The one constant in life is change, and there are frequent changes that you have to be aware of to make sure you're getting the most out of your retirement plan. Here are five changes to the retirement landscape that you should be aware of in 2023. Here's some of what you'll learn in this episode: Details on the new 401(k) limit increases and why it's important. (3:59) IRA limits are going up so w...

Today's episode will be all about your questions as we dive into our mailbag to cover three different scenarios. Each of these is great and we'll spend time tackling each topic in depth. We'll first talk about when you should shift your investing strategy to a conservative approach. Then we'll help someone work through which assets would be better to get out of a divorce. And finally we'll discuss...

Today we're going to be sharing the five secrets for experiencing satisfaction in retirement. Who doesn't want to get to a place where they've achieved fulfillment in one's wishes, expectations, and needs? That's what we work to do each and every day with our clients and will use this episode to help you improve your situation. If you can key in on these five points, you'll have a high chance to a...

If you're on Medicare or will be switching over to it soon, this episode will be extremely valuable for you. We've invited Christee from the team here to join the show to talk to us about this healthcare program. We'll go through all of the key aspects of Medicare today as well as tell you why consumers should be careful regarding the advertisements they see and hear. Here's some of what you'll le...

As we approach the end of the year, saving money on taxes becomes a bigger focus for many people. Today we're focusing on some of the most common retirement planning questions about taxes. We'll talk about mistakes to avoid and how a proper plan can make a significant difference in your tax savings. Check out today's show to find out how our advice can help your financial future.   Here's a little...

Today we're joined by Ben Sullivan, CFA® and vice president at AE Wealth Management. Ben will share his thoughts about why the market is down, whether we're heading into a recession, and what could help turn this all around. It's been a tough year, but our goal is to help you thrive in wealth in retirement. Check out today's show to find out how our advice can help your financial future. Here's a...

Just like we prepare our houses and lawns for the winter, we need to do the same for our finances. A lot of financial institutions have a Dec. 31 deadline to take action, so we want to make sure you're prepared. Today is part 2 of our year-end retirement and tax strategy planning series. We'll share more strategies you should consider before the end of this year to help put yourself in the best po...

Buying a home is often the largest purchase someone makes over the course of their lifetime so finding ways to do that as efficiently as possible could really benefit you financially in the future. Today we're talking with Michael Bischof, regional vice president for mortgage lending at Guaranteed Rate, to get his expert tips and insight into financing your next home purchase. Here's some of what...

Are you prepared for year-end and tax strategy planning? This puts you in the best position possible before the end of the year to help maximize your retirement and minimize your overall tax burden. We can walk you through spousal IRAs, Roth conversions, and how to save on taxes for required minimum distributions. We're also sharing the No. 1 more overlooked tax advantage account. Here's a little...

There are plenty of decisions that you'll make in the retirement planning process that can't be undone, so you want to make sure that you make the right call. In this episode, we'll explain why these important decisions can't be undone. Here's a little of what you'll learn in this episode: Wall Street's prediction of the stock market's direction is often wrong. (3:54) If you miss your window of op...

If you're looking to sell your home, buy a home or buy a vacation home, today's show is for you. Today we've invited a good friend and realtor, Lindsay Schulze, onto the show to get an update on everything that's happening around real estate and to get tips on the best approach for today's market. Here's a little of what you'll learn on this episode: What you need to change about your home to get...

Today we're diving into the mailbag to answer questions from listeners just like you. We're taking questions about taxes on inherited real estate, Roth conversions, and saving for retirement with irregular income.   What we discuss in this episode:  3:02 – Most affordable states to retire 9:04 – Roth conversions 27:48 – Selling mom's house   Read more and get additional financial resources here: h...

There are many things we know we'll have to deal with in retirement, but we don't know how to predict when or to what degree. How do you construct a plan that deals with the unpredictability of these different factors? We'll help you determine how.   What we discuss in this episode:  4:10 – Life expectancy 7:50 – Stock market returns 11:15 – Tax rates 15:51 – Inflation 18:46 – Unexpected expenses...

Most people have regrets in life, but you don't want to make mistakes that mess up your retirement. About 26% of retirees are not happy with their lifestyle in retirement, so we're going to learn from their mistakes.   What we discuss in this episode:  6:41 – Diversifying investments 11:03 – Seeking professional help 15:02 – Diminished capacity 18:29 – Practicing retirement 22:20 – Purpose 24:31 –...

The Inflation Reduction Act recently passed both houses of Congress and made a lot of headlines for what it's supposed to accomplish. On today's show, we're talking about the bill and how it may or may not serve you, what it means from a tax standpoint and whether it will actually reduce inflation.   What we discuss in this episode: 3:08 – Inflation Reduction Act 6:30 – Where is money coming from?...

Many rules of thumb are great to follow to help with your finances, but some rules are outdated and don't align with current economic conditions. We'll explain which rules to follow and which to leave behind.   What we discuss in this episode:  4:01 – 75% rule 6:33 – Retirement spending smile 8:50 – Understand expenses 13:00 – Taxes 16:24 – Retirement income 19:30 – Income and tax projection 22:22...