Retirement Planning - Redefined

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Ep 26: How To Process A Rollover

Last episode we talked about the different items to take into account if you are thinking about doing a rollover. John and Nick will discuss how to actually process a rollover and some common mistakes to avoid.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 25: Is A Rollover Right For You?

Company retirement plans can be expensive and many people are considering to rollover their account. But what considerations should be thought about before you take any action? Today John and Nick discuss the fee structures, investment options, and a few more factors when deciding if a rollover is right for you.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 24: Importance Of Risk Management & Asset Protection

When it comes to retirement planning, many people focus on filling in an income gap, or making sure they will have enough money to get them through retirement. While this is fundamental to the plan, it's important to make sure your assets are protected. John and Nick will explain what investment vehicles have some sort of protection and will also give a hypothetical example.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 23 : Should You Be Thinking About Refinancing?

With rates being at historic lows, a lot of clients have been asking questions about refinancing. So this week we answer the biggest questions people have.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 22: Case Study- Implementing Roth Conversions

We spent last podcast talking about what exactly a Roth conversion is. Today we will examine a financial plan and see how implementing Roth conversions can potentially improve this situation.

 

Case Study Before Implementing Strategy:

Dual income Household: Ages 55 & 53 

  • Existing Accounts:

    • $500k Pre-Tax 401k Funds
    • $25k Roth IRA Funds
    • $50k Cash
    • Mortgage on the home – paying extra on mortgage ($250/m) (5% rate on 30 year loan, 10 years in)
  • Income:
    • Person 1: $110k
    • Person 2: $60k
  • Current Savings strategy:
    • Total Joint Savings 18% of income ($30.6k/yr.) – all into pre-tax
    • Each person has 3% company match for pre-tax ($5.1k/yr.)
    • Total being saved: $35,700
      • EE Contributions: $30,600
      • ER Contributions: $5,100

 

New Strategy:

    • Refinance Mortgage to a 15 year loan with significant reduction interest rate lowers total monthly payment, allows for $250/m extra payment recapture & additional $150/m savings
    • New Total being saved: $40,500
      • 401k EE Contributions: $21,400

        • Pre-Tax: $15,900
        • Roth: $5,500
      • 401k ER Contributions: $5,100
      • Roth IRA Contributions: $14,000
    • Person 1 strategy: EE Total: $23,600, ER Total $3,300
      • EE Pre-Tax 401k Contribution: $11,100 (10%)
      • EE Roth Contribution: $5,500 (5%)
      • ER Pre-Tax 401k Contribution: $3,300 (3%)
      • Max Roth IRA: $7,000
    • Person 2 strategy: EE Total: $11,800, ER Total $1,800
      • EE Pre-Tax 401k Contribution (No Roth Available): $4,800 (8%)
      • ER Pre-Tax 401k Contribution: $1,800 (3%)

 

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 21 : Roth Conversions

With our tax brackets being at historically low rates, many people are looking at implementing Roth conversions in their plan. John and Nick will explain what exactly this concept is and how this may be able to save you some dollars on taxes in the future.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 20: Peeling Back The Curtain

On this week's episode, we check in with John and Nick on how things are going personally with their families, communities and clients.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 19: Market Downturns And Recoveries

Today our discussion revolves around bull and bear markets. We will break down the basics of what each of these types of markets mean and take a look at some historic trends that are relevant to this topic.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 18: Investing In Down Markets

It can be tough to see the silver lining in times of volatility, but when the market is down oftentimes there are some great investing opportunities. John and Nick give us some key tips on how to take advantage of a down market.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 17: Planning Through Volatile Markets

We talked last time on some of the financial impacts the Coronavirus had caused, but now we will discuss how to plan to get through tough times and market downturns. John and Nick will talk about a few suggestions they have when they see situations like this and how to withstand a volatile market.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 16: CARES Act

The Coronavirus (COVID-19) is having a dramatic impact on our daily lives and many people are taking a huge financial hit from lost wages, a volatile stock market, and general economic uncertainty. Congress recently passed the CARES Act to try and help alleviate some of the financial impacts. John and Nick will give us the rundown on this new bill.

https://floridadisasterloan.org/

https://www.sba.gov/funding-programs

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 15: Roth IRA 101

Last week we covered the basics of the traditional IRA and today we will shift our focus to the Roth IRA. John and Nick will once again explain the basics to this investment vehicle. We will also compare and contrast the Roth IRA to the traditional IRA.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 14: Traditional IRA 101

We cover the basics on the traditional IRA. John and Nick will break down what this investment vehicle is for and how it may be able to benefit you.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 13: Secure Act Changes - Stretch IRA

We continue our conversation about the SECURE Act. Another big piece to this new law is the removal of the stretch IRA. Nick walks us through the things we need to know about this big change.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

For a transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Ep 12: Secure Act Changes - RMD

After it simmered in Congress for a year, the SECURE Act is now law. If you have a retirement account of any kind, or will one day inherit a retirement account, this will affect you. Today Nick will discuss the details around the new age specifications.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

Transcript of Today's Show:

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Ep 11: Social Security, Part 5

Today is part 5 of our social security series and we will focus on the survivor benefit option. We will talk about a few situations that can arise and share a couple of client stories that have revolved around this topic.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

Transcript of Today's Show:

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Ep 10: Social Security, Part 4

Today's show is part 4 of our social security discussion. Our topic today is spousal benefit options. John and Nick will walk us through the ins and outs of this facet of social security and offer their advice.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

Transcript of Today's Show:

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Ep 9: Social Security, Part 3

This is part 3 of our social security conversation. This week we talk about what aspects you should consider before you decide to start taking social security. Everybody's situation is different, but this may help you get a better idea on when you should start reaping your benefits.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

Transcript of Today's Show:

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Ep 8: Social Security, Part 2

We continue our discussion on social security this week. Today's show will focus on how you can integrate social security in your retirement plan and some variables you may need to look out for when doing so.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

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Ep 7: Social Security, Part 1

Today is the start of a multiple part series on social security. We'll be discussing topics such as the state of the fund and reforms that are aimed to help the program and more, so tune in and catch up on social security.

Helpful Information:

PFG Website: https://www.pfgprivatewealth.com/

Contact: 813-286-7776

Email: info@pfgprivatewealth.com

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