The Retirement Show: Your Life, Your Money with Scott Sierens

The Retirement Show: Your Life, Your Money with Scott Sierens

A top retirement podcast dedicated to helping you: Reduce Taxes | Make Work Optional | Maximize Retirement Income | Invest Confidently | Optimize Stock Compensation | Help Future Generations Scott Sierens, financial advisor at Sierens Financial Group, will provide thoughts, strategies, and ideas on each episode to help you thrive in life, wealth and retirement. The goal is to take complex financial subjects and make them simple and easy to understand so you can feel confident to take action, enjoy life, and eliminate financial stress and anxiety. Scott, along with guests from across various industries, will cover topics such as tax savings strategies, investments and wealth management, IRAs, 401(k)s, retirement planning, retirement income strategies, pensions, estate planning, social security, healthcare, and much more. Retirement isn't an age or number. It's finding the balance between living life today and feeling financially confident about YOUR tomorrow. Ask Scott your questions by calling 847-235-6989 or check out our podcast website at https://lifemoneyshow.com for more resources.

Episodes

September 29, 2022 29 min

There are plenty of decisions that you’ll make in the retirement planning process that can’t be undone, so you want to make sure that you make the right call. In this episode, we’ll explain why these important decisions can’t be undone.

Here’s a little of what you’ll learn in this episode:

  • Wall Street’s prediction of the stock market's direction is often wrong. (3:54)
  • If you miss your window of opportunity and change your mind a...
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    If you’re looking to sell your home, buy a home or buy a vacation home, today’s show is for you. Today we’ve invited a good friend and realtor, Lindsay Schulze, onto the show to get an update on everything that’s happening around real estate and to get tips on the best approach for today’s market.

    Here’s a little of what you’ll learn on this episode:

  • What you need to change about your home to get the best price. (12:10)
  • How you can ...
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    Today we’re diving into the mailbag to answer questions from listeners just like you. We’re taking questions about taxes on inherited real estate, Roth conversions, and saving for retirement with irregular income.

     

    What we discuss in this episode: 

    3:02 – Most affordable states to retire

    9:04 – Roth conversions

    27:48 – Selling mom’s house

     

    Read more and get additional financial resources here: http://lifemoneyshow.com 

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    There are many things we know we’ll have to deal with in retirement, but we don’t know how to predict when or to what degree. How do you construct a plan that deals with the unpredictability of these different factors? We’ll help you determine how.

     

    What we discuss in this episode: 

    4:10 – Life expectancy

    7:50 – Stock market returns

    11:15 – Tax rates

    15:51 – Inflation

    18:46 – Unexpected expenses

    21:23 – Mailbag: Want to save more

    ...

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    September 1, 2022 36 min

    Most people have regrets in life, but you don’t want to make mistakes that mess up your retirement. About 26% of retirees are not happy with their lifestyle in retirement, so we’re going to learn from their mistakes.

     

    What we discuss in this episode: 

    6:41 – Diversifying investments

    11:03 – Seeking professional help

    15:02 – Diminished capacity

    18:29 – Practicing retirement

    22:20 – Purpose

    24:31 – Non-work friends

    27:44 – Communica...

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    The Inflation Reduction Act recently passed both houses of Congress and made a lot of headlines for what it’s supposed to accomplish. On today’s show, we’re talking about the bill and how it may or may not serve you, what it means from a tax standpoint and whether it will actually reduce inflation.

     

    What we discuss in this episode:

    3:08 – Inflation Reduction Act

    6:30 – Where is money coming from?

    10:41 – IRS tax enforcement

    15:11 ...

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    Many rules of thumb are great to follow to help with your finances, but some rules are outdated and don’t align with current economic conditions. We’ll explain which rules to follow and which to leave behind.

     

    What we discuss in this episode: 

    4:01 – 75% rule

    6:33 – Retirement spending smile

    8:50 – Understand expenses

    13:00 – Taxes

    16:24 – Retirement income

    19:30 – Income and tax projection

    22:22 – Rule of 100

     

    Read more and get ...

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    Everyone feels great about their investments when the market is growing and remaining strong, but how do you feel when things start to get choppy? Those fluctuations in the market can identify the people that aren’t truly comfortable with their portfolio risk because fear could push them to sell quickly.

    Here are some of the important things you’ll learn on this episode:

  • Why people typically have more risk in their portfolio than t...
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    Are savings bonds making a comeback? This conservative investment option has found new life this year thanks to an interest rate that’s approaching 10%. Should you be moving money into these government-issued iBonds as soon as possible? We’ll give you all the details on these bonds and make sure you’re aware of all of the fine print.

     

    What we discuss in this episode: 

    0:50 – Summer travels

    4:58 – People talking about iBonds

    6:25 –...

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    What does the transition into retirement look like? On today’s episode, Jim Manning will share his retirement story and the lessons he’s learned along the way.

     

    What we discuss in this episode: 

    5:08 – What were you doing prior to retirement?

    8:31 – Were you working a lot?

    9:24 – What age did you retire?

    10:39 – Any other factors that made you retire?

    11:34 – Spending time with the family

    13:12 – Are you have with retiring at 67? ...

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    There’s no better time than the present to remind ourselves of some good investing fundamentals and themes that we see in the market. Right now, your emotions might be high due to the market being down, but we’ll explain how to handle the rollercoaster ride.

    Today we're sharing 10 market tips from Bob Farrell, who spent decades as the head of research at Merrill Lynch, establishing himself as one of the leading market analysts ...

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    Most people realize that it’s usually best to have an estate-planning attorney helping them with their estate plan, but it’s also important for the financial advisor to be part of that conversation. On this episode, we’ll explore the role an advisor plays in the estate and legacy planning process and uncover some of the basic mistakes people often make when trying to sort all this out on their own.

     

    What we discuss in this episode...

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    On this episode, we’ll pick 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.

     

    What we discuss in this episode: 

    3:12 – Mortgage

    6:18 – Life insurance

    10:24 – Taxes

    14:38 – Mutual funds

    16:51 – Social Security

    20:38 – Mailbag: Unused vacation and sick leave

     

    Read more and get additional financial resources here: http:/...

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    If current conditions of the stock market being down and your retirement investment accounts falling in value have you concerned, worried or even scared about your future, you’re not alone. Today’s episode is just for you.

     

    What we discuss in this episode: 

    3:48 – Stock market down

    4:58 – Emotions

    5:58 – Perspective

    10:00 – Bear market

    12:50 – Different advice

    17:30 – Rainy day fund

    20:30 – Home equity line of credit

    21:53 – Meet ...

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    Can you still retire in a down market? With the stock market down and inflation up, that question is on a lot of minds. We’re going to talk about the factors involved in making this decision and how we help people like you determine the answer to this question.

     

    What we discuss in this episode: 

    3:10 – Business Insider article

    6:00 – CNBC and USA Today articles

    13:14 – Income gap

    18:31 – Extra money

    23:25 – Structuring withdrawals

    ...

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    Today we’re diving into the mailbag to answer questions from listeners just like you. We’re taking questions about retiring prior to the age of qualifying for Medicare, gifting to your kids and grandkids, having multiple IRAs and long-term care.

     

    What we discuss in this episode: 

    2:08 – Article: Planning to retire early

    5:42 – Not old enough for Medicare

    10:55 – Helping kids early

    19:14 – Different IRAs

    25:59 – Nursing home care

     

    ...

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    Are you nervous about shifting from saving money to spending it in retirement? If so, you’re not alone. Today we're sharing five things you need to know about decumulation, or the spending phase of your life.

     

    What we discuss in this episode: 

    1:58 – Good review on podcast

    4:44 – Lack of support

    9:18 – Fear of spending

    13:45 – Risks become more numerous

    17:26 – Taxes consequences

    20:42 – Leverage lifetime income

    23:06 – Mailba...

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    We’re all guilty of procrastinating from time to time. But today we’ll share some financial matters you want to be on top of and others you can take your time with. From taxes to debt, find out what you need to know about these money tasks.

     

    What we discuss in this episode: 

    5:28 – Deferring taxes

    11:22 – Debt

    14:59 – Estate planning

    18:43 – Social Security

    22:26 – Building a plan

    26:17 – Mailbag: Mom’s house

     

    Read more and get a...

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    Are we headed into a recession? That’s the question that’s on a lot of minds. On today’s show we’re going to make sure a recession doesn’t ruin your finances or retirement plans. We’ll also welcome retiree and investor Jim Manning to the show so he can ask questions, which are probably the same questions you have.

     

    What we discuss in this episode: 

    1:21 – Meet Jim Manning

    4:55 – Jim’s business experience

    6:19 – Jim’s product was u...

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    In the retirement planning business, we occasionally get some unreasonable requests. We’ll do our best to accommodate everyone’s needs, but sometimes they just aren’t realistic. On this show, we’ll share some of the requests and tell you how to set proper expectations around your retirement planning.

     

    What we discuss in this episode: 

    4:21 – Bigger returns, no risk

    7:50 – Reducing fees

    12:20 – Paying taxes

    15:26 – Do it for me

    18:...

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