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PODCAST

Your Retirement Playbook

Joe Clark, CFP with Financial Enhancement Group

Real, useful information for everyday people that can be translated into daily life and thought. Each week we cover a different aspect of financial planning, retirement options, and current economic conditions in common sense language that everyone can understand. We will bring on Special Guests to help us explain what is it we see happening out in the real world and provide ideas for the "Average Joe" to take home and put to use.

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All Episodes

12:03

Revocable vs. Irrevocable Trusts

Your Retirement Playbook ·

2021/02/16

Revocable Trusts are most common, but there are situations where an Irrevocable Trust is the way to go. When estate taxes are expected to be high, creating an irrevocable trust can help with the tax bill. Learn about other situations when you might choose this type of trust. Connect with Financial Enhancement Group: Visit our Facebook page at www.Facebook.com/FinancialEnhancementGroup Join our Facebook Group at www.yourlifeafterwork.com/FinancialTidbits Visit our website

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12:51

Cyber Security Part 2

Your Retirement Playbook ·

2021/02/12

What measures do you take to ensure you are safe when surfing the internet? Jeff Lanza, FBI special agent, and Financial Enhancement Group’s Partner and Chief Compliance Officer, Don Hodson, EA, will cover a variety of topics to help ensure that we do not fall victim to cybercrimes and identity theft. Connect with Financial Enhancement Group: Visit our Facebook page at www.Facebook.com/FinancialEnhancementGroup Join our Facebook Group at www.yourlifeafterwork.com/FinancialTidbits Visit our website

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12:50

Cyber Security Part 1

Your Retirement Playbook ·

2021/02/11

What measures do you take to ensure you are safe when surfing the internet? Jeff Lanza, FBI special agent, and Financial Enhancement Group’s Partner and Chief Compliance Officer, Don Hodson, EA, will cover a variety of topics to help ensure that we do not fall victim to cybercrimes and identity theft. Connect with Financial Enhancement Group: Visit our Facebook page at www.Facebook.com/FinancialEnhancementGroup Join our Facebook Group at www.yourlifeafterwork.com/FinancialTidbits Visit our website

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12:48

Change in Inherited IRA Rules

Your Retirement Playbook ·

2021/02/10

Your legacy plan is one of the many things in life that you cannot simply check off your list and forget about. The tax code has changed and I promise you that it will continue to change. We have people that come in all the time with estate documents created with old rules in mind, things that would simply wreck retirements and create havoc for heirs. You must understand why you need annual tax planning and how things like income variability, death, divorce, and job loss can change the whole

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12:49

Conflicts of Interest

Your Retirement Playbook ·

2021/02/09

You need to be aware of conflicts of interest when it comes to hiring a new financial advisor. We all have conflicts of interest in one way or another, even myself at Financial Enhancement Group. Any time someone is going to benefit from the advice they are giving you, they need to acknowledge it and demonstrate how it still benefits you. The value you are getting should supersede any money you are spending. Since only about 10% of the United States work with a fiduciary, most people are faced with

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12:54

V Is For Victory - It Takes Combining Every Player In...

Your Retirement Playbook ·

2021/02/05

When it comes to your retirement plan, every decision impacts another. Learn why most decisions cannot be made independently. There’s a quote from Mark Twain which says, “When you find yourself agreeing with the masses, it’s time to pause and reflect.” There are many strategies for a successful retirement, but also critical decisions that have to be made beforehand if they are going to work. Determining whether to draw Social Security at 62 as a means of monthly income, or using retirement savings

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12:56

The Investment Playbook - Maintaining The Right Mix...

Your Retirement Playbook ·

2021/02/04

Asset allocation is the answer to the age-old advice: Don't put all of your eggs in one basket. Make sure you're on your game when it comes to planning ahead for retirement. In this episode learn why dividing your retirement savings into various investment categories is crucial to the overall success of your retirement. Learn how asset allocation can impact your investment returns depending on the level of risk you are willing to take. We discuss the three basic types of funds that should be inside

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11:59

The IRS Isn't Afraid To Throw A Flag And Charge You...

Your Retirement Playbook ·

2021/02/03

The IRS can be a tough opponent when it comes to imposing penalties. Find out which ones impact your game the most. With the Cares Act, many Americans were given permission to use funds from their retirement savings that normally would incur a penalty for early withdrawal. In this episode learn what decisions need to be made by those who took advantage of the exception. Also, find out what the penalties are for infractions such as filing your taxes late, early withdrawal, not taking an RMD and more

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12:59

Bulls vs. Bears - Keeping Your Emotions In Check

Your Retirement Playbook ·

2021/02/02

Volatility has always been a player in the big game. Learn how to defeat this unpredictable opponent. Before FEG: Acting emotionally during volatility can definitely wreck your retirement. We can help with that. Volatility has always been a big part of investing. Learning how to become disciplined, as well as keeping your emotions in check, is how you navigate this probable occurrence. In the episode, we talk to CMT Andrew Thrasher, winner of the Charles Dow Award for his white paper titled:

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12:52

Should You Accept The 2020 Coronavirus Distribution...

Your Retirement Playbook ·

2021/01/29

Congress is trying to figure out a way to keep us alive. It's not our job to figure out ways to manipulate the tax code during a pandemic. However, if you did take a Coronavirus related distribution, find a way to get that back in there. Essentially, when you take those distributions, it does terrible things to you long-term. Find someone who is going to take care of you. Find a person that will put themselves in your situation. For those of you who got the support you need, it will be critical to

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12:53

Social Security Isn't Necessarily The Best Gift You...

Your Retirement Playbook ·

2021/01/28

Should you take social security now? Well, what is your age today? Most people believe that they want to take social security at age 62. However, most people can't answer why they want to do it. Not many people really understand that genesis of it. Primarily, it comes from pension funds. At GM – you would get a pension. Then, you would get a bump until age 62; then, the bump would disappear. When you're taking social security early, most people don't realize that you take a negative 6% cut every

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12:51

What Happens When Your Bond Reaches Its Maturity Date

Your Retirement Playbook ·

2021/01/27

One of the reasons that Wall Street loves bonds is that they mature. Then, you have to redo something with capital. About 68-70% of the market is actually driven by bonds. You would think that the stock market is larger; however, it’s not. Bonds mature, they die, then capital needs to be replenished. Here’s more about the lifespan of a bond: An organization needs to raise capital. So, they raise capital through bonds. Throughout that time, they also give coupons. Once the bond is issued, people can

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11:52

Turning 72 Is More Than Just Receiving Gifts

Your Retirement Playbook ·

2021/01/26

Pulling money out of your accounts does not feel natural because you spent all your time putting that money in there. Another reason people do not pull money out of their accounts is that they don't need it! Lastly, there's a fear of running out of money. Those are the three pain points for why people do not take their money out of accounts. When it comes to the Required Minimum Distribution, you need to understand that your retirement dollars will exit. They will either exit by your own design,

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12:45

What To Know If You Live In Two States

Your Retirement Playbook ·

2021/01/22

Your trust is still valid if you move to another state. The trust can travel from state to state. When you create a trust in Indiana, it is considered an Indiana trust even after moving to Arizona. If you own property in multiple states, you will go into probate in numerous states. If you own a trust, then you won’t go through probate at all provided you have funded the trust with those properties. When moving states, determine which state has the best trust code for you. Connect with Financial

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12:44

Home Is Where Your Domicile Is

Your Retirement Playbook ·

2021/01/21

You should not maintain your student loans to build credit. If you have $40,000 of student debt, then you’ve already started to build credit. After making some payments, that will help build credit. If you haven’t made any payments yet, then start doing that before you do anything else. All tax policy is social policy. There will be an awful lot of things that could help with student loan debt coming up. It may be worth it to wait and see what happens. Determining your domicile is difficult. There

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12:49

When Snowbirds Can't Fly

Your Retirement Playbook ·

2021/01/20

Most snowbirds come from Canada. Michigan, New York, and Ohio make up the next three states of snowbirds. These snowbirds will choose either Florida or Arizona for the winter. Also, Nevada and Texas are other big snowbird states. Snowbirds tend to be baby boomers between the ages of 55 and 75. Plus, they are well educated, financially secure, and active. The Canadian borders were closed in 2020; that is why many snowbirds couldn’t make it this winter season. The impact to the US economy was tragic

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11:36

What To Know About Coronavirus Relief In 2021

Your Retirement Playbook ·

2021/01/19

For individuals, there is a $600 stimulus payment for each individual and each qualifying child. It starts phasing out at $75,000 for individuals and $150,000 for couples. Most people who got the first stimulus payment should have already received the second payment by now. On www.IRS.gov there is a place where you can check in about your stimulus check. This check is an advance of your 2020 tax credit. Don’t worry if you didn’t get it. There is still an opportunity to get it when you file your 2020

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12:46

Why Empty Nesting Is Not All It’s Cracked Up To Be

Your Retirement Playbook ·

2021/01/15

Empty nesting is not all that it is cracked up to be. When the kids are finally gone, and you have some extra money, what should you do? The last thing you want to have happen is that your standard of living dramatically rises. You’ve been saving and accumulating money for your retirement based on a certain margin. With an extra $1,000 a month, it’s easy to take that money and increase your standard of living. If this happens, then you will need to squeeze in an extra $1,000 to maintain your

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13:02

Beginning A New Life After Work

Your Retirement Playbook ·

2021/01/14

What is a safe amount of money we can withdraw from our portfolio? If you are in your early sixties, you are looking at 3.2% that you can pull out with reasonable certainty that you will be okay. However, this is assuming that you have a financial manager that is managing your portfolio correctly. When you’re over 70, then you can pull out 4%. You can pull out more because you are not going to live as long. At this point, you have to be willing to accept and understand your level of risk tolerance

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12:59

What To Do After The Loss Of A Spouse

Your Retirement Playbook ·

2021/01/13

After the loss of a spouse, don’t do anything for the next ninety days to six months because you will act emotionally. However, that’s limited advice. There are two different people that can inherit a Roth IRA: a spouse or a non-spouse. If a spouse inherits it, they can roll it over into one name. Something to consider: with an IRA, you have to wait until 59.5 to get it out. Otherwise, you can elect to take it as an inherited IRA where you have access to the money, and there is no penalty for taking

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451 results

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