Wealthy Habits Podcast

Spouses plan as one. Retirement paths may blur. Clear the way, find peace… Yes, that's a haiku. In today's episode, we're going to help couples get on the same page in their retirement plans with the serenity of poetry. Each haiku contains helpful bits of financial wisdom that will address some of the common ways couples mess up their retirement futures. Dave and Drue will decipher each haiku and...

Sometimes it's hard to make financial sacrifices when the reward might not be seen until several years in the future, but that's a core principle in retirement planning. Many of the decisions you make during the planning process and the strategies you implement are done to put you in a better position when retirement rolls around. Today we'll talk about some of the situations shwere you might be i...

In this episode, we want to provide an overview of interest rates for those who aren't quite sure why they move the way they do. It's a question we get a lot from people, especially with inflation up and interest rates more than doubling over the course of a year. Dave and Drue will explain the Fed's actions and help you better understand how investing strategies change in a high interest rate env...

"Learn from the mistakes of others. You can't live long enough to make them all yourself." – Eleanor Roosevelt… Ever wish you could foresee financial missteps before they happen? In today's episode explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you. Stay tuned as Dave and Drue warn against retiring too ear...

The retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these hidden, but essential questions about retirement. How much are your tax deferred savings goi...

We've got a mailbag edition of the podcast for you today! We've received some excellent listener questions recently, and we're going to dive into a few of them in this episode. We cover a wide variety of topics, ranging from 529 plans to advisor fee structures, so stick around to see what you can learn. Rosemary asks how much is too much to spend on a forever home. Valerie asks Dave and Drue for t...

Losing a spouse is an unimaginably tough life event, but the financial implications can add another layer of stress to the grieving process. In this episode, we delve deep into the most common financial issues faced by widows and widowers, from dealing with income gaps to navigating tax changes as a single filer. We explore actionable strategies to address these problems, such as the importance of...

Retirement is a unique journey for each of us. The thought that there's a one-size-fits-all solution is a myth, but what if we told you there are certain universal truths that can guide every retiree? Dive deep in this episode, where we juxtapose the individuality of retirement plans with the foundational principles that remain consistent across the board. Listen in as Dave and Drue discuss some c...

Are you over 55 and pondering retirement? Join us as we delve into the realm of Required Minimum Distributions (RMDs). Unfortunately, RMDs can be a tad bit confusing, so in today's episode, Dave and Drue are here to unravel the mystery and ensure you have a clear understanding of the process. Listen in as we break down the basics of RMDs and explain how they are calculated based on your age and ac...

Artificial intelligence is a revolutionary tool that is reshaping our world. You've probably heard about ChatGPT and its widespread use for various tasks like information retrieval, content creation, and even test-taking. But can you use AI for retirement planning advice?  Stay tuned as we dive into an article where artificial intelligence is pitted against a real financial advisor. When asked the...

We're back with another mailbag edition of the podcast today! Listen in as Dave and Drue answer some recent questions they've received from listeners like you. From power of attorneys to long-term care and lump sum pension buyouts, we're covering a wide variety of topics on today's show. Catherine asks what she can do to help set up her daughter and grandchild for success financially. Charlie asks...

There are some people who don't care at all about leaving a financial legacy, but for those who do, it's important to eliminate some of the common estate planning mistakes. In this episode, we cover topics ranging from poor expense planning to outdated beneficiary designations and family conflict triggers. We also shed light on some misconceptions about transferring real estate and explain the imp...

Real estate can be a great tool for building wealth, but how well does it fit into a retirement plan? In this episode, we construct a helpful conversation about the role of real estate in a retirement strategy, exploring everything from rental income to reverse mortgages.  Whether you're a pre-retiree with a portfolio of properties or just curious about leveraging your home equity, this discussion...

Are you nearing "retirement age"? If so, let's explore that pivotal question you'll soon face: Should you retire or continue working? We'll unravel the intricacies of this decision, addressing both financial and emotional aspects, and help you find out if you're truly ready to retire.   This is always one of the first questions we receive so we talk through this quite a bit. We hope this episode w...

In this episode, we're digging into the financial face-offs that make Monopoly fights look like child's play and exploring some money minefields that can test even the most solid relationships. From risk to retirement age to charitable contributions, listen in as we explore how to resolve some of the most common financial sources of tension between couples.   Here's some of what we'll talk about o...

In honor of Grandparents' Day, which is just around the corner on September 10th, we're here to delve into the profound and irreplaceable role that grandparents hold in our lives. They pass down their wisdom, share their life experiences, and instill strong work ethics, leaving an impact on us all. This episode serves as a tribute to grandparents while offering valuable insights into estate planni...

Today we're opening up the mailbag once again to find out what financial questions you have for Dave and Drue. This episode could be very helpful if you're looking to improve your financial situation and prepare for retirement. Some of the things we'll discuss include investment strategies, what to do with a large amount of cash, taxes, and inheritances. If you ever have anything you're curious ab...

The word selfish carries a negative connotation but in the case of retirement, is it okay to be 'selfish.' We came across an article recently that put a different angle on the typical retirement planning conversation and we thought it was worth discussing on the podcast. So we're going to talk about the idea of selfishness when it comes to protecting your retirement. With more and more retirees ha...

Scams have never been more prevalent as we've all become more connected through technology, and many predators are targeting your financial accounts. It happens all the time and we all have our own first-hand accounts.    In this episode, we're going to share some of our experiences with scams, from email to phone calls to texts. Plus, we'll talk about how we help clients protect their money and t...

Welcome to part 2 of our series on mastering retirement cash flow. Last episode, we talked about expenses in your life that might drastically change in retirement. From housing and healthcare to insurance and taxes, we shared some of the expenses you need to keep an eye on. On today's show, we'll talk about income and how to maximize your money. We'll also explain why you need an income plan. If y...

In this episode, we'll explore many of the expenses in your life that might drastically change (one way or another) in retirement. We'll break those expenses down further to see which ones are the top priorities and analyze some of the other factors that impact your cash flow in retirement. From housing and healthcare to insurance and taxes, we're here to share some of the expenses you need to kee...

Picture this: You're at your retirement party, finally ready to enjoy your golden years, but worries caused by some bad money habits have robbed you of fully enjoying the sweetness of the day. It happens to more people than you think, which is unfortunate because with just a little bit of modification, you can rid some of the worst money habits from your life and set yourself up for retirement suc...

It's time for another mailbag episode! We have an exciting lineup of topics to discuss today. Listen in as we tackle some current questions from our listeners, and you'll likely gain some invaluable insights to help you make informed financial decisions. This episode could be very helpful if you're looking to improve your financial situation and prepare for retirement. We will discuss whether you...

Welcome to part 2 of our series about taking control of your finances during life's most pivotal moments. Last episode, we talked about the complex world of financial decision-making during key life events. From the excitement of marriage to the challenges of losing a loved one, we're sharing practical tips to help you make informed decisions and maintain financial stability during life's ups and...

Are you ready to take control of your finances during life's most pivotal moments? In this episode, we'll dive into the complex world of financial decision-making during key life events. From the excitement of marriage and the joy of welcoming a new child to the challenges of divorce and the loss of a loved one, we'll provide practical tips and guidance to help you make informed decisions and main...