Wealthy Habits Podcast

It's time for another mailbag episode, and we bet these questions (and our answers) will help many of you. This episode could really help if you're looking to improve your financial situation and prepare for retirement. We will discuss whether to pay off your mortgage, what to do about dividends, and whether to prioritize paying for college or saving for retirement. Listen to hear some of the ques...

You need to make smart decisions during major life events, and we are here to help guide you. Whether it's a job change or divorce, we recommend taking your time to work everything out. Most people like to think that they always make decisions based on logic and facts, but the truth is that emotions usually play a role for all of us in the decision-making process. We'll explain how to handle big c...

If you've ever wanted to learn a little more about investing in the stock market, this episode is for you. We're going to cover some of those terms you've probably heard before, but perhaps never truly knew what they meant. From the bid-ask spread in the stock market to bull and bear markets, we'll explain some hot topics you need to know. On today's show, we'll share: The difference between the b...

It's time for another mailbag episode, and we bet these questions (and our answers) will help many of you. This episode could really help if you're looking to improve your financial situation and prepare for retirement.   We will discuss when you should switch from being an aggressive investor to a conservative one, what's a good age to retire and more. Listen to hear some of the questions our oth...

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 significantly impact your tax savings. We'll also explain why a tax deduction is not a dollar-for-dollar reduction. On today's show, we'll share: Can...

Bonds have been a pretty hot topic this year. Oftentimes, people misunderstand how they work and what role they play in a proper financial plan. On today's show, we're addressing some of the misinformation and explaining why this has not been a good year for bonds.  A lot of people consider bonds to be the safe and conservative part of their portfolio. But is that the right mindset? How are interm...

Today we're sharing five common questions people ask when they're forced into retirement. Hopefully you won't be in this position, but more and more people are these days. Others are leaving work early as part of the Great Resignation. No matter how it happens, people leaving work early is becoming more prevalent. If this scenario does come your way, it's best to be prepared. On today's show, we'l...

Just like the lights on your dashboard can indicate if something is wrong with your car, like low tire pressure or leaking oil, there are indicators in your financial life that might point out that you have a problem that needs to be addressed. On today's show, we'll explain why your net worth, view of retirement, and thoughts on nursing homes might be problematic. On today's show, we'll share: Wh...

We're opening up the mailbag today to answer your questions. We got a lot of good feedback and had some interesting questions come in. On today's show, we'll share whether you should convert money to a Roth, when not to take Social Security early and how to handle inheritance money. On today's show, we'll share: Harold is almost 60 and doesn't have any money in a Roth. Should he convert some? (4:1...

On this episode, we'll talk about some of the things we hear from people when they don't pay enough attention to the fine print. On today's show, we'll share: Why you might get a big rate increase on your long-term care insurance. (3:40) Why the fees with annuities can be a lot higher than you thought. (7:02) Why a mutual fund can tank when you get into it. (10:39)   Get Additional Information: ht...

Interest rates have been top of mind for a lot of us this year. It's been impossible to ignore. So, what do we need to know about interest rates, and what should we be paying attention to when it comes to this topic? On today's show, we'll explain how interest rates can affect our overall financial plan and us as investors. So, is the news all doom and gloom, or are there hopeful times ahead? On t...

Want to know the secrets to experiencing satisfaction in retirement? We've discovered five key situations to which your financial plan needs to lead you. If you can key in on these five points, you'll have a high chance to achieve retirement satisfaction. We'll explain why these elements are so important and how your planning process helps achieve them. On today's show, we'll share: How you can ha...

We're opening up the mailbag today to answer your questions. We got a lot of good feedback and had some interesting questions come in. On today's show, we'll share how you can contribute to your 401k when you make differing amounts of money each month. We also discuss the pros and cons of being a very conservative investor and whether to pay off your mortgage before investing in rentals. On today'...

We know we'll have to deal with many things in retirement. We just don't know how to predict when or to what degree. In today's show, we'll share how you can construct a plan that deals with the unpredictability of these different factors. From life expectancy to future tax rates, we'll cover the essential topics you need to know to get your retirement plan together. On today's show, we'll share:...

Buckle up! We're going against the grain today and sharing some financial advice we disagree with and why. As advisors, our job is not to be your best friend. We share tough love and help you get where you want to be financially. It can be hard for people to go against the grain and do something different, but it's important to know that not all financial advice suits everyone the same. On today's...

People have many reasons for procrastinating when it comes to putting a retirement plan together. Today we'll explore some of those excuses, why they can be dangerous, and how to overcome them.   What we discuss today:  2:20 – Parents didn't plan 5:21 – Who to listen to 9:55 – Stress 12:10 – Too busy 14:16 – Where to start 15:51 – Perfectionists   Get Additional Information: https://www.truefinanc...

You've most likely heard plenty of "rules" you're supposed to follow to retire successfully. Some of these rules are stated so confidently that you'd be crazy not to immediately accept them as fact. But we don't mind the threat of being called crazy, so let's dive into some of the most popular retirement "rules of thumb."   What we discuss today:  4:09 - Rule of 100 6:04 - 75% rule 8:22 - Rule of...

How prepared are you for retirement? Do you know how much income you'll need and what retirees fear the most? Today we're testing your knowledge to see if you have what it takes to retire successfully.   What we discuss today:  2:02 – Saving for retirement 4:36 – Income estimate 8:06 – Retiree fears 10:37 – Diversification 12:44 – Withdrawals   Get Additional Information: https://www.truefinancial...

Today we're diving into the mailbag to answer questions from listeners just like you. We're taking questions about inheritance squabbles, when to leave money to kids and Medicare.   What we discuss today:  3:11 – Inheritance 6:03 – Financial advisors 8:30 – Market jumping 12:44 – Unused leave 14:51 – Medicare 18:03 – Money for kids   Get Additional Information: https://www.truefinancialpartners.co...

In some ways, retirement planning was easier for past generations. On today's show, we'll explore how a good financial advisor can help you overcome the additional challenges facing retirees today, such as lower interest rates and longer life expectancies.   What we discuss today:  3:17 – Pensions 6:01 – Life expectancy 10:19 – Interest rates 12:48 – Information overload 16:07 – Stock market   Get...

Let's see if your tolerance for risk matches your financial plan. What should you do if that balance is out of whack? What if you're a natural risk taker, but you really shouldn't be when it comes to your finances? We'll explore all of these angles as we break down the role of risk in your financial and retirement plan.   What we discuss today:  1:50 – Client risk 4:49 – Portfolios 6:48 – Telltale...

Today we're picking 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. Find out where Dave and Drue stand on each of these planning items.   What we discuss today:  2:34 – Mortgage 7:47 – Life insurance 11:05 – Advisors 17:27 – Annuities 20:14 – Taxes   Get Additional Information: https:...

Numbers often drive a lot of the conversation in the financial world, and people like to see how they measure up against others. Today we're sharing some statistics and our thoughts on whether they're encouraging or disturbing.   What we discuss today:  2:39 – $1.04 million 6:48 – Keep working 10:10 – Increase savings 11:53 – Social Security 15:44 – Health care   Get Additional Information: https:...

There are plenty of external factors that often negatively influence our chances of having a successful retirement. But often, failure comes from within. On this episode, we'll talk about some of the common ways people get in their own way when it comes to financial planning.   What we discuss today:  3:43 – Fear and greed 7:01 – Taxes 8:18 – Cash 13:36 – Overthinking 14:48 – Opinions   Get Additi...