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

Everyone feels great about their investments when the market is growing and remaining strong, but how do you feel when things start to get choppy? Those fluctuations in the market can identify the people that aren't truly comfortable with their portfolio risk because fear could push them to sell quickly. Here are some of the important things you'll learn on this episode: Why people typically have...

Are savings bonds making a comeback? This conservative investment option has found new life this year thanks to an interest rate that's approaching 10%. Should you be moving money into these government-issued iBonds as soon as possible? We'll give you all the details on these bonds and make sure you're aware of all of the fine print.   What we discuss in this episode:  0:50 – Summer travels 4:58 –...

What does the transition into retirement look like? On today's episode, Jim Manning will share his retirement story and the lessons he's learned along the way.   What we discuss in this episode:  5:08 – What were you doing prior to retirement? 8:31 – Were you working a lot? 9:24 – What age did you retire? 10:39 – Any other factors that made you retire? 11:34 – Spending time with the family 13:12 –...

There's no better time than the present to remind ourselves of some good investing fundamentals and themes that we see in the market. Right now, your emotions might be high due to the market being down, but we'll explain how to handle the rollercoaster ride. Today we're sharing 10 market tips from Bob Farrell, who spent decades as the head of research at Merrill Lynch, establishing himself as one...

Most people realize that it's usually best to have an estate-planning attorney helping them with their estate plan, but it's also important for the financial advisor to be part of that conversation. On this episode, we'll explore the role an advisor plays in the estate and legacy planning process and uncover some of the basic mistakes people often make when trying to sort all this out on their own...

On this episode, we'll pick sides of some important financial debates. From paying off your mortgage early to life insurance and more, we'll share our opinions on these hot financial topics.   What we discuss in this episode:  3:12 – Mortgage 6:18 – Life insurance 10:24 – Taxes 14:38 – Mutual funds 16:51 – Social Security 20:38 – Mailbag: Unused vacation and sick leave   Read more and get addition...

If current conditions of the stock market being down and your retirement investment accounts falling in value have you concerned, worried or even scared about your future, you're not alone. Today's episode is just for you.   What we discuss in this episode:  3:48 – Stock market down 4:58 – Emotions 5:58 – Perspective 10:00 – Bear market 12:50 – Different advice 17:30 – Rainy day fund 20:30 – Home...

Can you still retire in a down market? With the stock market down and inflation up, that question is on a lot of minds. We're going to talk about the factors involved in making this decision and how we help people like you determine the answer to this question.   What we discuss in this episode:  3:10 – Business Insider article 6:00 – CNBC and USA Today articles 13:14 – Income gap 18:31 – Extra mo...

Today we're diving into the mailbag to answer questions from listeners just like you. We're taking questions about retiring prior to the age of qualifying for Medicare, gifting to your kids and grandkids, having multiple IRAs and long-term care.   What we discuss in this episode:  2:08 – Article: Planning to retire early 5:42 – Not old enough for Medicare 10:55 – Helping kids early 19:14 – Differe...

Are you nervous about shifting from saving money to spending it in retirement? If so, you're not alone. Today we're sharing five things you need to know about decumulation, or the spending phase of your life.   What we discuss in this episode:  1:58 – Good review on podcast 4:44 – Lack of support 9:18 – Fear of spending 13:45 – Risks become more numerous 17:26 – Taxes consequences 20:42 – Leverage...

We're all guilty of procrastinating from time to time. But today we'll share some financial matters you want to be on top of and others you can take your time with. From taxes to debt, find out what you need to know about these money tasks.   What we discuss in this episode:  5:28 – Deferring taxes 11:22 – Debt 14:59 – Estate planning 18:43 – Social Security 22:26 – Building a plan 26:17 – Mailbag...

Are we headed into a recession? That's the question that's on a lot of minds. On today's show we're going to make sure a recession doesn't ruin your finances or retirement plans. We'll also welcome retiree and investor Jim Manning to the show so he can ask questions, which are probably the same questions you have.   What we discuss in this episode:  1:21 – Meet Jim Manning 4:55 – Jim's business ex...

In the retirement planning business, we occasionally get some unreasonable requests. We'll do our best to accommodate everyone's needs, but sometimes they just aren't realistic. On this show, we'll share some of the requests and tell you how to set proper expectations around your retirement planning.   What we discuss in this episode:  4:21 – Bigger returns, no risk 7:50 – Reducing fees 12:20 – Pa...

What can we learn from billionaire Warren Buffet when it comes to our finances? He shares some key lessons and advice to keep our money on track for long-term financial success.   What we discuss in this episode:  2:26 – Bankrate article 5:21 – Portfolio survival 10:20 – Value, not timing 13:45 – Productive assets 17:06 – Avoid speculation 21:41 – Inflation   Resources:  https://www.bankrate.com/i...

You might not pay as close attention to your birthdays as you get older, but there are some ages that you need to be paying attention to. On this episode, we're sharing the most important birthdays in retirement planning. We'll take you through some of the key ages, why they are important and what you should be thinking about as you approach retirement.   What we discuss in this episode:  6:47 – A...

There's enough financial jargon being used that even experienced investors get tripped up now and again. Today we're going to talk about the investment terms you should know, what they mean and why they're important to you and your financial future.   What we discuss in this episode:  1:37 – Financial literacy month 6:32 – Stocks 13:39 – Bonds 17:45 – Asset allocation and diversification 20:11 – F...

Putting together a solid retirement plan isn't just about dollars and cents. We need to determine what really matters to you. Today's show is all about why values-based planning is so important.   What we discuss in this episode:  2:27 – Digging deeper 5:58 – Family 11:20 – Faith 14:39 – Career 19:15 – Education 23:06 – Charity 25:57 – Fun 30:13 – Question about moving 401k   Read more and get add...

Volatility isn't fun. When the stock market is down, it really takes a toll on our emotions. Emotions lead people to do things that could ruin long-term investing results. Today, we're sharing why you should stay invested.   What we discuss in this episode:  3:15 – Market volatility 6:48 – Long-term investors 9:21 – Diversification 19:13 – Emotions 22:13 – Timing the market 25:08 – Always a worry...

Low-interest rates, the cost of products going up, underfunded Social Security, and market volatility can really create some murky waters and make financial planning pretty difficult. We'll share how to get clarity on your finances on today's show.   What we discuss in this episode:  1:23 – Pets 7:05 – USA Today article 10:56 – Income growth 18:45 – Social Security 26:37 – Withdrawal rates 30:05 –...

Should you manage your own investments or work with an advisor? When should you do Roth conversions? Does having multiple IRAs make you diversified? These are all great questions we've received from listeners, and we'll answer them on today's show.   What we discuss in this episode:  1:52 – Market Watch article 7:01 – Roth conversions 13:50 – Financial advisors 26:24 – Roth 401k 30:28 – Diversific...

Between the war in Ukraine, gas prices, and inflation going up, the news has been pretty bleak lately. More people are talking about corrections, bear markets, and recessions. Today we'll talk about those topics and what they mean to you and your money.   What we discuss in this episode:  2:49 – Correction 9:34 – Bear market 15:43 – Recessions 19:53 – What does this mean for you? 24:02 – If your p...

On this episode, we'll breakdown a CNBC article that analyzes a recent Morningstar study. The study found that most of us have at least one money bias, some of us more than one, and that those biases are very possibly costing us money in our checking, savings, investing and retirement accounts. Listen to see if you might be impacted by a specific money bias and for strategies to get it back under...

A common question we get is, "Where should I keep my cash? Where should I put my rainy day fund, my emergency fund?" Today we'll share three places you can keep your cash to get a better rate of return.   What we discuss in this episode:  2:11 – Fed raising rates 9:56 – Where to keep cash 10:16 – Inflation 11:17 – The right amount of cash 13:06 – Too much cash? 14:46 – Online savings account 19:10...

There are some things in life you can't predict, but you can try to plan for them. For example, when is the next market crash going to happen? We don't know, but here's how you can prepare for this and other things in your financial life.   What we discuss in this episode:  1:15 – Inflation articles 5:58 – Market crash 11:02 – Lifestyle 17:04 – Health care 23:56 – Taxes 28:46 – Life expectancy 31:...

Today we're answering some of your excellent financial questions. How much should you spend in retirement? When's the best time to take Social Security? We'll answer these questions and more on today's show.   What we discuss in this episode:  1:42 – IRS backlog article 5:32 – Retirement income 10:38 – One stock 15:35 – Social Security 20:18 – Life insurance   Read more and get additional financia...