Ep 214: Why the Customer Isn’t Always Right in Financial Planning

On this episode:

In nearly all of the retail, restaurant and hospitality world, the old saying is that “the customer is always right.”  But when it comes to financial planning, it’s probably not wise to subscribe to that idea. What’s the point of having a financial coach if your advice is better than your coach’s advice?

Let’s talk about some statements you might hear from clients that might require you to push back because the customer isn’t always right.

Listen now!

Specific learning points:

  • Now is the time for me to get out of the market  (3:02)
  • This is what I want to invest in. I just need you to pick the exact funds for me. (5:57)
  • I don’t really need to spend money on _____  (8:05)
  • It’s fine that my returns are great because fees are low or avoiding a good investment because fees are too high. (10:54)
  • My accounts are down right now. I don’t think my plan is working. (13:37)

 

More resources:

Are You Paying Too Much In Taxes In Retirement? Click here to download the free guide

Click here to claim your FREE Elder Law Guide

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Also available on Spotify, Apple Podcasts, Stitcher & Google Podcasts

About:

Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

 

Ep 213: What’s the Difference?

On this episode:

Financial planning can be pretty complicated. From strategies to investments to planning items, there’s a lot to learn and some of these things seem awfully similar.

In this episode of Retirease Radio, we’re going to play a little game of ‘What’s the Difference’ and highlight some of the terms that a lot of people get confused about. Maybe they don’t understand the difference between the two or maybe they don’t realize that there’s a difference at all.

The first step to a strong financial plan is understanding everything you’re invested in and this show will help clear up some of the confusion around some pretty common strategies and investments.

Listen now!

Specific learning points:

  • The difference between Roth contributions vs Roth conversions. (2:44)
  • Term life insurance versus permanent life insurance. (6:52)
  • What classifies as a qualified account versus a non-qualified account? (11:00)
  • The differences between variable annuities and fixed annuities. (13:42)

More resources:

Are You Paying Too Much In Taxes In Retirement? Click here to download the free guide

Click here to claim your FREE Elder Law Guide

Subscribe:

Also available on Spotify, Apple Podcasts, Stitcher & Google Podcasts

About:

Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

 

Ep 212: This One’s On The House… Factoring Your House Into Your Financial Plan

On this episode:

On this episode of Retirease Radio, Victor Medina explores some of the most common questions people have when it comes to homeownership in retirement.

We’ll cover topics such as paying off your mortgage, downsizing to a smaller home, borrowing money through home equity lines and reverse mortgages, and navigating home-related estate planning issues.

If you’re nearing retirement and have some questions about your home, we’ll probably cover them in today’s episode. So, tune in because this one’s on the house…

Listen now!

Specific learning points:

  • Victor and Ben reflect on the crazy housing market of the past few years. (1:02)
  • Interest rates have gone up, but my mortgage rate is still low. Should I try to pay off the house quickly or just pay as little as possible? (2:26)
  • Victor walks us through what’s involved in the conversation with retirees about downsizing to a smaller home. (6:03)
  • Is a home equity line a good place to borrow money in retirement? (9:58)
  • We’ve all seen a commercial about reverse mortgages. Are they a good or bad idea for retirees to consider? (13:40)
  • Lastly, Victor explores problems that tend to arise involving the house during the estate planning process. (16:44)

More resources:

Are You Paying Too Much In Taxes In Retirement? Click here to download the free guide

Click here to claim your FREE Elder Law Guide

Subscribe:

Also available on Spotify, Apple Podcasts, Stitcher & Google Podcasts

About:

Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

 

Ep 211: Repurposing Your Old Financial Accounts

On this episode:

If you’re like most people, you probably have some financial accounts that you don’t give much attention. The statements are just collecting dust in your file cabinet but they might actually be hidden gems that could be put to much better use.

On this episode of Retirease Radio, let’s talk about some of the accounts that people tend to ignore for too long. Victor will lay out some planning opportunities that are worth considering because you could be earning more in some cases or saving more in others.

Listen now!

Specific learning points:

  • Three things you should evaluate in your 401(k) to determine if that money is better suited elsewhere. (1:25)
  • Why people are surprised that replacing your life insurance policy might be cheaper now than it was when you first purchased it. (4:18)
  • Why savings accounts and money market accounts present a good planning opportunity. (6:02)
  • Is there anything you should be doing with an old pension fund? (8:36)

More resources:

Are You Paying Too Much In Taxes In Retirement? Click here to download the free guide

Click here to claim your FREE Elder Law Guide

Subscribe:

Also available on Spotify, Apple Podcasts, Stitcher & Google Podcasts

About:

Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

Ep 210: Fear, Anger, and Blissful Ignorance: Coping with Market Turbulence

On this episode:

On this episode of Retirease Radio, we’ll reflect on the extremely turbulent stock market of the past 12 months and analyze some of the common ways people cope with volatility and their different emotional responses.

We’ll start with the most common reactions, fear and panic, and discuss how they can influence investment decisions. Then, Victor will help us explore additional emotional reactions like anger, numbness, blissful ignorance, and opportunism.

Listen now!

Specific learning points:

  • The danger of reacting to a fluctuating portfolio with fear and panic. (2:20)
  • Where Victor sees anger appears as an emotional mindset to volatile markets. “It tends to be at individuals and leaders rather than circumstances.” (6:15)
  • Is despondency or numbness a common reaction to market turbulence? (8:30)
  • Can blissful ignorance be a helpful asset in your emotional toolbox? (10:50)
  • It’s the opposite of where the discussion began as we analyze people who embrace opportunism even in the face of market upheaval. (13:20)

More resources:

Are You Paying Too Much In Taxes In Retirement? Click here to download the free guide

Click here to claim your FREE Elder Law Guide

Subscribe:

Also available on Spotify, Apple Podcasts, Stitcher & Google Podcasts

About:

Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

Ep 209: Does Your Estate Plan Have an Expiration Date?

On this episode:

Very few things in life last forever. Cars break down, cell phones become out of date, food goes bad, even a good bourbon can spoil if you don’t store it properly.

Sadly, many people look at estate planning as a one-time activity (set it and forget it). While your estate plan might technically not have an expiration date, there are many times when it could end up “going bad” if not properly updated.

In this episode, Victor will take you through a few of the common scenarios that necessitate a meeting with your attorney to make sure everything is accounted for.

Listen now!

OK

Specific learning points:

  • People often ask how often they need to update their estate plan. (0:56)
  • What pieces of your estate plan need attention if you decide to move to another state? (2:10)
  • As your assets have changed, migrated or grown over the years, we’ll incorporate all of them into planning. (5:16)
  • What steps should you take as your family changes? (7:57)
  • How often is the law changing around estate planning? (10:28)

More resources:

Are You Paying Too Much In Taxes In Retirement? Click here to download the free guide

Click here to claim your FREE Elder Law Guide

Subscribe:

Also available on Spotify, Apple Podcasts, Stitcher & Google Podcasts

About:

Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

 

Ep 208: Investing Like a Genius

On this episode:

People are always studying geniuses and highly intelligent people, trying to get an understanding of what makes them tick. There are specific qualities that you’ll find from some of the brightest and most successful people and learning from them can help level up your investing.

So let’s look at some of the common characteristics of highly intelligent people that you should apply to your financial life. Don’t be afraid to ask for help from your financial advisor with understanding or utilizing each of these traits. It could make all the difference in retirement.

Listen now!

Specific learning points:

  • Having adaptability and flexibility in financial planning. (1:30)
  • Are you able to identify what you don’t know and ask for help? (4:54)
  • How can we learn from the financial mistakes of others? (8:17)

More resources:

Are You Paying Too Much In Taxes In Retirement? Click here to download the free guide

Click here to claim your FREE Elder Law Guide

Subscribe:

Also available on Spotify, Apple Podcasts, Stitcher & Google Podcasts

About:

Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

Make It Last – Ep 207 – Don’t Plan By Yourself!

Most Americans are getting a failing grade in financial literacy especially revolving around retirement. Victor and Mark share the top topics people are struggling with so you can understand

Then, they will go on to discuss the insurance world, and how it can benefit retirees.

Finally, they’ll talk about why it’s important to have a financial advisor, even if you have a financially savvy spouse.

Are You Paying Too Much In Taxes In Retirement? Click here to download the free guide

Click here to claim your FREE Elder Law Guide

Also available on Spotify, Apple Podcasts, & Google Podcasts

Make It Last is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

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Make It Last – Ep 206 – The Three I’s You Need In Your Retirement Plan

You already have the foundation, but what’s a house without walls and a roof? Victor gives you all the materials you need to make sure the Big Bad Wolf doesn’t blow your house down.

Do you know what the three “I’s” are? They are the three main areas of a solid retirement plan. Listen to find out if you have all three covered.

Finally, they’ll wrap things up by taking a trip in the “time machine.”

Are You Paying Too Much In Taxes In Retirement? Click here to find out.

We help you take control of your financial future, visit www.palantewealth.com to learn more!

Also available on Spotify, Apple Podcasts, & Google Podcasts

Make It Last is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

Podcast: Play in new window | Download

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