December 29, 2025 • 40 mins
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Speaker 1 (00:00):
Hello, and welcome to Money Talks with Terry Sandbold and
Blake Sandbold and gentlemen, what do you have on tap
for us this very last weekend of the year.
Speaker 2 (00:11):
Well, we're going to talk about today financial planning for
the new year, because we are heading into a new year.
A lot of things that took place in twenty twenty
five and looking forward to twenty twenty six, things are
aligning I think pretty well. So everybody should have a
good twenty twenty six if planning accordingly. Let's use that
as a I like it a little bit of a
(00:32):
connotation there, But no, we're going to talk about some
of the key things to think about as you planned
for the upcoming year. So we're going to wish everybody
a happy new year a few days early here and
be ready for twenty twenty six.
Speaker 1 (00:47):
Let me just ask you as we kind of kick
this off. You know, this is year two of a
new presidential administration, and I know we talk about stats.
Is the second year of an administration when you start
seeing the world of what they've done in the first
year really coming out, at least economically speaking, anyway.
Speaker 3 (01:05):
Yeah, usually it is, and you know it's it's interesting.
I mean historically that can lead to a little bit
of choppiness, just as it's uh you know usually change
that's that's coming through.
Speaker 4 (01:15):
But you know, we'll time all off to tell on that.
Speaker 3 (01:18):
You know, I think, uh, there there are it's a
different way to think about it, is it's really the
prove it type year, and you know, are the are
the policies, Are the hype that that we've had that
we've talked about, is that actually going to follow through
and have economic growth or not?
Speaker 4 (01:35):
So that's that's really what we'll be looking for next year.
You know, it does the.
Speaker 3 (01:40):
Economic growth follow what what we think it may be
or or not. You know, we we've recently got some
uh interest rate cuts which can help boost overall economic
activity as well. But yeah, you think you're completely right
you think about a presidential cycle, it really is the
proven year of the cycle.
Speaker 4 (02:00):
So we'll see what happens.
Speaker 3 (02:01):
But there's definitely a pro business environment right now.
Speaker 2 (02:06):
Well, yeah, so the first year usually is kind of
the sorting out year, but there's been a lot of
accomplishments in twenty twenty five, so this is probably a
little bit faster pace. Let's put it that way. Than
what we usually see with the presidential first term or
first year.
Speaker 3 (02:20):
Yeah, you know, it's interesting you look at the first year.
Usually the first half is very strong and the second
half is tougher, just as it starts to get to
that spot of saying, you know, there's kind of still
whatever hangover from a prior administration, whereas those policies, everyone
kind of knows the environment that we're in, what the
economic conditions are, and then when it starts to get
(02:43):
to that change usually can be a little bit schoppier.
And you know, clearly the speed that things happen this year,
there's a lot of change, very fast. I mean, to
have the amount of change that we did during the
first quarter into the start of the second quarter, you know,
it kind of got through. It's a different cycle this
year then how things normally follow. It's at Terry's exact
(03:03):
point on that. So you know, you kind of already
had the second half maybe a little bit of twenty
twenty six, you know, second year stuff compressed in this year,
so we'll see. But you know, even that being said,
you know, we do still think it's going to be
approve a year from the standpoints. You know, you think
everything that's gone through with one big beautiful bill. You know,
(03:25):
manufacturing is supposed to be coming back here, that CAPEC spending,
you know, really incentivizing AI companies and collaboration. You've had
that first leg of that build out, so now we
now we need to see that second leg actually happen
and those those will be the goalposts that we're looking
for next year.
Speaker 1 (03:43):
Absolutely well, if you're new to our show, welcome and Terry.
Each and every week we like to do a Money
Talks mailer of the week. So along with our financial
planning for the new year topic, what do we have
for our miller.
Speaker 2 (03:54):
Yes, we have about a ten page mailer entitled seven
Principles of Long Term Investing, So if you'd like your
copy today, just give us a call. Again, it's seven
Principles of Long Term Investing. Our number at Sandfold Financial
Group is nine five two five four four two eight
three seven. Again it's nine five to two five four
(04:15):
four two eight three seven. And as we go through
the show, if something perch your interest, we are in
the business of helping people better their financial futures. So
if you'd like a second opinion or a first opinion,
or that first opinion of twenty twenty six. Give us
a call also, we'd be glad to talk to you
or meet with you as well. And we work in
the areas of money management of course, investment portfolios as
(04:39):
well as retirement planning, and we work on the insurance
side as well as the investment side. But ken goes
back to when we first started in the business. One
of our very first ten, our first ten clients, seven
of them wanted to plan for retirement. So that's back
in nineteen eighty six when I started the firm. That
was one of the main goals in one of the
(05:00):
key areas that we really gravitated towards. And we're helping
thousands of people with retirement planning nationwide now as well
as their investment portfolios. So if you're looking for somebody
that's looking out for your best interest, give us a call.
We'd be glad to help. Perfect.
Speaker 1 (05:16):
So what are what's the first tip for planning for
the new year? What are we what should we be
thinking about?
Speaker 2 (05:22):
Well, I mean one thing to think about, you know,
as we turn the page into a new year, it's
a perfect moment to pause, reflect and map out a
financial plan that supports your goals and a fresh year.
Often you often it offers a clean slate, so to speak.
You know a lot of people when they when they
(05:43):
think about the beginning of the year, you see all
these all these commercials to buy all these tubs and
get organized with your house and different things. We want
to get you organized with your financial future as well.
So very very important to take a look at how
to plan and go forward. But wide long term financial
planning matters. The first step is do you have a plan?
(06:04):
Do you really have a plan? Take a question, you know,
it does matter, let's put it that way. But having
a plan is one of the first steps. So by
doing that, what your goals should be is what are
your major financial goals and how are you going to
achieve your major financial goals. So one thing that comes
to mind is long term planning really breaks big goals
(06:28):
into manageable steps. Because if you say, oh, I'd like
to retire with X amount of dollars at sixty five
and you're twenty five, thirty five, forty five years old,
you can't just wish it to happen. You have to
make it happen, you know, or you don't want to
just keep your fingers crossed and hope it happens so
you can actually plan this out. And the thing that
(06:48):
we always talk about is time can be an enemy
or an ally for you. So the thing that we
when we sit down with people, or if we lined
up thousands of people and said what is the one
thing you would have changed preparing for retirement, the biggest
one would say, I wish I would have started earlier, yeah,
Or another one might be I wish I would have
(07:10):
saved more money and known how money compounds at an
earlier age. So it doesn't have to be a big
dollar amount or a big percentage amount, but getting started
is very very key to have successful successful financial future.
So really looking at that, I mean the other thing
(07:30):
is looking at long term planning provides direction and keeps
you motivated when the goal seems so far away. So
I think that's important for people too, because I think
a lot of people do come into our office for
the first time, say when they're fifty years old, because
they realize, you know, I got a sixty five as
(07:51):
an example, isn't that far away, and now it's time
to get serious. But we'd like you to get more
serious earlier.
Speaker 4 (08:00):
Yeah, well, you know, I'd add to that.
Speaker 3 (08:01):
I think a lot of people it is once once
their kids maybe are starting to get out of the house,
it's starting to say, well, you know, maybe cash flows
starting an increase, what do I do for this last sprint?
And you know, I think it is you can see
some people try to run the risk of saying, well,
I'm going to have too much risk in my portfolio
to try to catch up those last five ten years.
Speaker 4 (08:22):
And that's that's really where having.
Speaker 3 (08:24):
That plan, you know, we we do something with our
clients as well, really called a long term vision map,
and you know, mapping out you know, what our personal
goals you have five, ten, fifteen, twenty thirty years down
the road in different five year increments, and what our business.
Speaker 4 (08:40):
Goals or you know, career goals.
Speaker 3 (08:42):
That you may have at different intervals along the way.
And you know, I think it's a lot of people
find it helpful just because you know, it's it takes
away some of that initial finance part with it and
just says, okay, if we didn't have to fully think
about that, where would we want to be? And you know,
then it allows us to reverse back into that say Okay,
if these truly are the goals, this is what's driving you,
(09:05):
Let's actually show underline what you need to do to
get there and how to make that attainable. And it
really helps you know, bridge the emotional and the personal
financial goals together, especially for those large milestones.
Speaker 1 (09:17):
Perfect. Now that makes that makes a lot of sense.
Let's go ahead and take our first break here on
Money Talks. We're talking about financial planning for the new year.
And it's a really smart time no matter how old
you are to get thinking about it. We'll be back
in just a moment. Welcome back to Money Talks with
(09:39):
Terry Sandbold and Blake Sandbold. And today we're talking about
financial planning for the new year. Terry, and quite timely
I might say.
Speaker 2 (09:46):
Well, there's you're up to a good start. You're right
at the beginning of the year. What are your goals
for the year? Your financial future should be on one
of your top one of the things on the top
of your list to how to achieve more financial success
for you and your family. So today we're talking about
that and how to be planned out for the new year.
(10:07):
So why does long term financial planning matter? One of
the reasons that it does matter is to build financial security,
and that comes from being prepared. If you are not prepared,
you're kind of guessing at it. You're hoping it works
and will it really work? So putting that together is very,
very important, and you're not the only one in the family. Also,
(10:28):
sometimes in the family setting, there could be one of
one of the couple, if you're married or have a
significant other, one of the two of you is very
involved and you understand where you're at, But does the
second person understand that or are they being a good
participant in that? Because when we get to retirement planning,
we have to keep in mind if it's a couple,
we have to satisfy both of them throughout their retirement future,
(10:51):
not just one of them. And if the one that's
involved in all the investments and all the insurances and
all the planning is not relaying to the second person
them and by themselves and then they pass away first,
that second person is really almost starting over. So we
don't want that to happen.
Speaker 4 (11:09):
Yeah. Yeah, I think that's a big part, and I
mean it is.
Speaker 3 (11:13):
It is being a team and being there, being present
for a lot of those check in meetings. Yeah, it
all goes together. Next one we have those is managing
risk helps planning helps you anticipate uncertainty.
Speaker 4 (11:29):
We always kind of joke that's the one thing.
Speaker 3 (11:30):
That we know will happen in life, right is uncertain
times will be ahead and you know, trying to navigate
that as best we can so that that can manage
you know, you think about risk, it can manage things
like life insurance, disability insurance, launder care insurance, et cetera.
Speaker 4 (11:45):
Those are all risk mitigation tools and strategies.
Speaker 3 (11:49):
But there you know, it can go a step further
to managing the risk in your portfolio and how that
aligns with your lifestyle.
Speaker 4 (11:55):
Time rising for when you need goals and risk that
you can.
Speaker 3 (11:58):
Actually take on, afford to take on or not in
a portfolio. And you know, I think the big thing
with that is it's all adaptive over time. You know,
there's different stages in your life where you want to
take on or reduce or eliminate different types of risk,
and you know that's that's part of working with a
financial planning group is to stay on top of that.
Speaker 2 (12:21):
Yeah, another thing going forward on our list, we have
supporting retirement readiness and a well designed plan can help
you save consistently over time, and it is very crucial
for building a strong retirement nest egg. So looking at
that sooner than later is very very critical for people.
Also on leaving a legacy, for example, the state planning
(12:42):
can ensure your assets go where you intend them to
go and reduce the burdens for the loved ones because
you can make a big difference on how you do
state planning or legacy planning. Taxes get involved, whether it's
a state tax, income tax, capital gains, all of these
different things. Taking a look at how that goes when
the dollars go, does the tax bill go with it,
(13:03):
or can you plan accordingly to help alleviate some of
that by properly doing your estate planning, so it could
be tax strategies on your investments they do matter as well.
College funding. How are you preparing for college? Are you
going to have a massive loan because you have not
prepared and have a negative return or are you going
to build your dollars over time to have that dollar
(13:26):
amount sitting there And you can build a plan that's
tied to college directly, or you can do outside investment,
a custodial account and not have it tied that direction.
But the idea is trying to build and let the
interest work to your advantage instead of having a negative
interest on a credit card or a loan balance going
against there. Because as we all know, college funding is
(13:48):
very very expensive right now, Well is it going to
be like in ten or twenty years? And if you
have to tack on a loan interest rate on top
of that actually makes it a worse scenario instead of
a better scenario. So, and we don't want you to
borrow from your retirement to fund college either. So that's
(14:09):
really important when people are looking at that. Where is
the money going to come from?
Speaker 3 (14:14):
Dollars and dollars out that's the name of the game.
So setting financial goals for the new year?
Speaker 4 (14:22):
You know why goal setting matters?
Speaker 3 (14:24):
And uh, you know, I think this is a large
people that you know going into the your people is
debates that we do financial New Year's resolutions, financial resolutions
or what does that actually look like? But I think
underlying is you know why goal setting matters. You need
a clear starting point.
Speaker 1 (14:40):
Uh.
Speaker 3 (14:41):
Goals provide structure. They're the foundation for building the financial roadmap.
Without them, it's hard to measure progress or or make
meaningful adjustments.
Speaker 1 (14:49):
I have a question for you, Blake on your first
your first bullet there, when you said you need a
clear starting point, are you also saying is that another
way of saying, we gotta we gotta take sort of
inventory of where you are so that you know what
what your starting point is?
Speaker 4 (15:04):
Right?
Speaker 1 (15:04):
Is that what you help people do is define that.
Speaker 4 (15:07):
Absolutely. Yeah, it's it's knowing where you're at right now.
Speaker 3 (15:11):
And you know, another way of think about it, there's
no time like the presence is a large part that
we say. But yeah, you know, if you don't fully
know where you're at, it's tough to know where you want.
Speaker 1 (15:22):
To go for sure.
Speaker 4 (15:23):
Simple for sure.
Speaker 2 (15:25):
So when we when we say setting up a plan,
it's not a it's not a plan to start the
plan down the road.
Speaker 1 (15:31):
Really, oh shucks series, Or it shouldn't be.
Speaker 2 (15:36):
It should not be a twenty twenty seven goal as
you go into twenty twenty six. Okay, so we want
to get get you started, and I think that's really important.
I think with the emphasis on the on the kids
accounts now Trump with the one thousand dollars project that
he's working on for kids, it might give a bit
of a mindset to people to think about, yes, we
(15:58):
should start earlier.
Speaker 3 (15:59):
You know.
Speaker 2 (16:00):
The thing that could be good with that is if
that goes through and gets funded and all that. Along
with that should be a letter showing a compound interest
table and showing how that can work at different rates
of return over time. So it's almost like, here's a roadmap.
If you leave it till twenty or twenty one, here's
the dollar amount under certain assumptions. If you let it
(16:20):
grow till forty, here's the dollar amount. If you let
it grow to retirement, here's the dollar amount. You know,
all of those types of things. But it's trying to
get that mindset as early as we can into kids'
minds as well as parents' minds. Sometimes it puts a
little pressure on the parents to well, they're proposing this
to my newborn. I guess I better get my act
together too. You know, sometimes that can be a good thing.
(16:44):
So really looking at that, when you're looking at setting
the financial goals, besides them being long term goals, you
might break goals into timeframes, meaning short term money. It
could be as simple as maybe increasing your four and
K contribution for twenty twenty six from say, if you're
contributing five percent, maybe go to six percent. Increase that
(17:05):
a little bit. Midterm saving for home down payment, what
type of investments work best for that so you have
the down payment so you have flexibility how you buy
your next home or your first home. And then long term,
reaching a target wealth amount by retirement. So going after
those goals, we would like to see everybody at retirement
(17:26):
get an increase in pay, not a decrease in pay
when they get to retirement. So that's the fun part.
And we actually tell people that, yeah, based on your
assets and how you've invested, you can take an increase
in pay and they get a big smile on their faces.
We'd never ever thought we'd be able to do that,
so that's really a fun thing to be able to
tell them.
Speaker 4 (17:44):
SOT.
Speaker 2 (17:46):
Our job is to help you look at the pieces
what types of investments might be good for short term,
mid range, and long term, because one type of investment
is not the clear source for everything, and I think
that's where the planning comes in, that's where our background
comes in. That's where we can help you analyze before
you make decisions on what to do next with your
short term and mid range and long term type of strategy,
(18:08):
and then you know, looking at how that how it
does balance together is very very key. And paying yourself first.
I think it's one thing that we can't go without saying,
because what happens a lot of times is if you
get your paycheck and you look at it and say, well,
I can spend all this because I'm getting another paycheck
(18:29):
next in two weeks. Pay yourself first, invest something and
then spend the rest, and then you're going to achieve
your financial goals along the way. So I think that's
very important to think about that.
Speaker 1 (18:40):
Absolutely.
Speaker 3 (18:42):
Yeah, you know, it's again it goes to the key
part of having a plan and showing how how different segments,
different buckets work and collaborate together. I think that's that's
really the key stage of it. And you know, I
think it's it's tough for a lot of people to
combine all those those different buckets and make a meaningful
outcome and say, and you know, how how can we
(19:04):
still find the long term when we're you.
Speaker 4 (19:06):
Know, worried about you know, our furnace going out.
Speaker 3 (19:09):
You know, at a couple in our neighborhood this last
week where that's what they You know, we saw the
furnace trucks lighting up on everything, But it really is
having that plan to make sure that you have each
one of those buckets fulfilled.
Speaker 1 (19:20):
Absolutely, and I think too, it's it's nice to have
somebody that can kind of guide you through all the
considerations and and say don't freak out. You know, we
do this every day. Here's how you chunk it down.
We need to take a quick break for news here
on Money Talks, but we'll be back with more in
just a couple of moments. You're listening to Money Talks
(19:47):
with Terry Sandbold and Blake Sandbled and we're talking about
financial planning for the new year this week Blake, and
you know, there's some really interesting nuggets in here.
Speaker 3 (19:57):
There are and to go along with as always, we've
got a great Money Talks mail of the Week entitled
seven Principles of Long Term Investing very timely and goes
through you know, what are what are long term considerations
to have in this and how to stay disciplined for
the long term when you are looking at your plan.
Speaker 4 (20:16):
Talks about acid allocation, UH.
Speaker 3 (20:19):
Investment philosophy and more so, if you'd like a copy,
give us a call nine to five to two five
four four two eight three seven, or go online to
sampled fg dot com.
Speaker 1 (20:29):
Perfect.
Speaker 3 (20:31):
So looking at talking through the plan a little bit further,
reviewing and adjusting your financial plan. Great thing to look
at coming into the year. Life has changed, world has
changed and more uh so, so probably appropriate time to
think about it. So the biggest thing to do is
start off with assessing your current financial health. Reflect on
whether you stayed on track this year or not. And
(20:53):
you know that's something where this time of year, we're
starting to look at a lot of yearly financial plan
type reviews to say.
Speaker 4 (21:00):
What worked, what didn't work well?
Speaker 3 (21:02):
What do we need to adjust for the coming year
or years to stay on targets. Identify any obstacles meaning
unexpected expenses. Income changes could be downward or upward, fluctuating
spending habits. You know, I asked yourself was my spending sustainable?
Do I need better guard rails or not? Maybe it's
(21:25):
looking through that Amazon budget over the last year and
saying was it exactly where I intended it to be
or not?
Speaker 4 (21:33):
But important to focus on that.
Speaker 3 (21:35):
Adjusting for life changes is really a next consideration. Life
requirements here's some life events that can require adjustments. Job changes, promotions,
birth of a child. You know, as our family knows,
there's twelve grand kids out there right now, so there
(21:56):
have been spending adjustments.
Speaker 4 (21:58):
Let's say that they.
Speaker 2 (21:59):
Go along massive spending adjustments. And what's interesting right at
this moment, right now, all twelve are seven and under.
Speaker 1 (22:09):
You guys always find a way you sandaled to overachieve.
Speaker 2 (22:13):
We're trying, well, we're building the empire for the future,
so that's how that works. But no, and number thirteen
is on the way. That'll be announced next in twenty
twenty six, so that's that's already a plan in motion
and that don't take place in a few months here.
So yeah, more going.
Speaker 3 (22:34):
Yeah, next couple of topics we did have on their
marriage or divorce clearly of a financial planning, a conversation
and that's one that's important to have leading.
Speaker 4 (22:44):
Up to that.
Speaker 3 (22:44):
On both ends, big purchases or relocations and you.
Speaker 4 (22:49):
Know that can be a new home cabin.
Speaker 3 (22:53):
I think a lot of people this time of year
they think about maybe a property down South Florida, Arizona
and more or car payment. So each bring new financial
considerations and financial advisor group like us can help walk
that through and say are we on track with this
plan or what adjustments do we need to make?
Speaker 2 (23:10):
Yeah, and I think that's important when you're looking at
a big project, or say you're buying a second home
or you're changing homes and you're looking at how should
I finance this? Should I take some out of investment,
should I how much should be a mortgage or combination?
Those types of things will help look at the text
strategies of how to accomplish that in the best possible
fashion for you and your family. So big purchases, people
(23:33):
that I've worked with us over the years, they know
that when they're looking at those, they do give us
a call and say, I'm looking I'm looking to spend
fifty thousand dollars on this.
Speaker 4 (23:41):
What's the best way to do it? You guys?
Speaker 2 (23:43):
And I think that's important that they reach out and
they understand we can help them look at that.
Speaker 1 (23:47):
Yeah, it's a good idea.
Speaker 2 (23:49):
You know, because if your investments are, for example, just
a simple one and we'll probably have this in our
information today, but if your investments are making ten percent plus,
just use a simple number and you can get a
mortgage at five percent again, and I know Rachel will
hire that right now, but just use that as an example.
You may not want to take that ten percent plus
(24:10):
money on performance to pay down that mortgage. You may
want to finance that you have the difference grow for you,
keep it flexible, maybe use some of the interest off
of that ten percent or more to pay the payments
and still overachieve the rest of it. So those are
things will help you analyze take a look at you know,
as you talk about things, there's good debt and bad
(24:31):
debt as well, So we look at the overall picture
for you, the holistic approach to financial planning. So when
we're looking at strategies, of course investing for the future,
diversification is a big deal. Making sure that you're revisiting
what you would call or what we would call your
risk tolerance. And it's kind of like, if I simplified it,
(24:54):
it's kind of like from one to ten. If one
is low risk but low performance, ten is high risk
but very volatile. Well, what number are you? And if
you're married or have a significant other, what number are
each of you separately? Because the thing that's really important
is we have to help both of you and satisfy
both of you on the risk versus return scenario. So
it's really important to look at that, and our firm
(25:17):
will look at that and build that accordingly. So we're
not going to say everybody needs to do this, because
we know everybody has a different risk tolerance with their
own financial planning. So very very important the consistency of
what you're doing investing for the future. Consistency is very
very important. Time in the market matters more than timing
(25:37):
the market. We do have a chart that goes through
that right in front of us that is I think
very very eye catching. You take a look at this
and for you listening, I guess I can go through
it real quick, if that's all right, Blake. The fact
of missing out on the best days of the market.
And this is a chart that was a twenty five
(26:00):
your chart from the end of September of two thousand
to the end of September twenty twenty five. And what
it does is it's tracking the S and P five hundred,
the daily returns and it's annualized return. So it's saying
if you if you looked at the twenty last twenty
five years and looked at the average return of the
S and P five hundred being in it every day
(26:22):
throughout the year. The average was eight point three seven percent.
Speaker 1 (26:26):
Wow.
Speaker 2 (26:27):
Now here's what's interesting. If you missed the ten best
days per year, and that's all you missed, and all
the rest was in the S and P five hundred,
but you missed the ten best days per year, that
eight point three seven percent return average goes down to
three point ninety five percent, less than half that and
(26:49):
you only took away the ten best days of the year.
Speaker 1 (26:51):
Amazing.
Speaker 2 (26:52):
Now here's how it goes if you take the twenty
best days away instead of that eight point thirty seven
average being in the market in the S and P
all year, and the average is over twenty five years,
so we've had up and down years throughout that for sure.
But if you take away the twenty best days per
year on that last twenty five years, your average return
(27:13):
is two point zero four percent.
Speaker 1 (27:16):
It's amazing.
Speaker 2 (27:17):
You take away the thirty best days instead of that
eight point three seven take away the thirty best days,
it's point four nine percent, half of one percent. You
take away the best forty days of each year, and
that average goes down to minus point eight nine percent,
(27:40):
and we have on our chart even taken away the
best fifty days per year. So remember, if you're in
the S and P last twenty five year average was
eight point thirty seven. Take away the best fifty days
each year, your average is minus two point one seven percent.
Speaker 1 (27:58):
That's the wrong direction.
Speaker 2 (28:00):
So when we're talking about time in the market versus
timing the market, that's a real quick example and a
pretty telling commentary on the difference. Even missing the best
ten days. I think that one jumps jumps out to
you a lot as well, going from eight point three
seven down to three point ninety five per year. So
(28:21):
anything to add to.
Speaker 3 (28:22):
That, like no, it's you know, it is staggering. And
you know what you find with most of the best
days is they come pretty much right after the worst day.
So it's you know, most recoveries follow you know, a
V or a W shaped pattern, So usually right after
you see kind of that extreme flush, usually see a
large rebounds and recovery on things.
Speaker 4 (28:43):
So it's it does take.
Speaker 3 (28:45):
You know, give the mindset of say that you need
to stay disciplined, you need to stay focused when you're investing, know.
Speaker 4 (28:51):
What you own, why you own it and what the strategy.
Speaker 3 (28:54):
Is behind it, and you know, investing is definitely not
something to make knee jerk reactions to. You know, you
definitely want to have a strategy behind what you do,
and that those numbers really speak to that.
Speaker 1 (29:06):
No, that's that's absolutely amazing. And that chart is such
a simple little bar chart, but it's perfect because you
can it just it lays it right there. I mean,
it's kind of shocking to see.
Speaker 2 (29:17):
Yeah, and I think that's really important as far as
and we're not saying you need to have one hundred
percent of your money in the stock market all the time,
because you might have a short term goal and maybe
that should be a little bit more diversified. Not necessarily
all in the stock market, but your short term, mid
range and long term money. We can stagger that as
far as the risk level and what types of investments
(29:39):
we would build for you. So that's what we do.
Will build complex models for you or individually pick the
pieces for you the combination, but then the monitoring of
it and the readjustment of that along the way, and
taken advantage of when there are opportunities because twenty twenty
five versus twenty twenty six. Some of the things that
(29:59):
we're not the stellar return types of investments for twenty
twenty five could be towards the top for twenty twenty six.
So there's going to be a lot there's gonna be
a lot of opportunities out there, and that swhere weepy'all
that a pro proactive money management approach can help you.
Speaker 4 (30:15):
For sure.
Speaker 1 (30:16):
Absolutely. We've got to take a quick break here on
Money Talks, but we'll be back in just a moment.
It's Money Talks with Terry Sandbold and Blake Sandvold, and
we've been talking about financial planning for the new year
this hour. Terry and I don't want to forget about
our Money Talks mailer of the week. We do it
(30:37):
every week for each show.
Speaker 2 (30:39):
Well, absolutely, and our mailer this week is seven principles
of long Term Investing. And for a lot of you,
maybe seven is your lucky number. So give us a call.
We'll send that out to you. Seven principles of long
term investing. When you think about it, A lot of
people at the beginning of the year, I want to
make some New Year's resolutions. Let's help make some New
(31:01):
Year's financial resolutions for you. So I think one way
to get started with those resolutions is to get started.
So we get started.
Speaker 1 (31:11):
Sounds so to be.
Speaker 2 (31:12):
It's just two words on your list. It's very easy
to write down. But then the next step is to
actually do that. We can help We can help you
do that, it's the bottom line. So give us a
call if you'd like that. Also give us a call
if you'd lack a no cost opinion, whether it's first
opinion or second opinion, of what's do next with your
financial future. A lot of people try to do financial
(31:33):
planning all by themselves. You don't have to take this
on all by yourself, so give us a call. We'd
be glad to help. We've been doing this since nineteen
eighty six and we want to help you too. So
again our numbers nine five two five four four two
eighty three seven. Yeah.
Speaker 3 (31:50):
So, next part that we had for looking at some
of the planning for twenty twenty six retirement planning essentials.
So a couple key tips here. First, as a SIP one,
maximize your employer match if possible. So if you've got
a four oh one K four to three B simple
array that you know has a matching allocation on that.
Make sure you at least make it enough to get
(32:11):
full advantage of that match. You know, it's really free
money coming from your employer, a great way to enhance
your return quickly. Younger younger investors can benefit from WROTH
iras due to tax free growth. We have that conversation
a lot with our clients in their twenties and thirties
and saying, you know, you could have thirty forty fifty
years of tax free growth. Sure you don't get the
(32:33):
upfront tax deduction on that, but you know, conceptually usually
you're in your lower tax bracket as well in the
younger years, so that could just add to that further,
pretty powerful ROTH conversions in gap years between retirement and
rm ds that can be incredibly helpful.
Speaker 4 (32:51):
So if you think.
Speaker 3 (32:52):
About someone right now retiring, say they're sixty five years old,
so they've got a ROTH IRA rollover IRA or pre
tax money and after tax money or a trust. We
know at age seventy three you're gonna have to start
pulling out required minimum distributions from your IRA certain percent
every year. So you know, strategy that we do with
(33:13):
some people saying, well, we're going to live more of
your after tax income for a couple of years, do
the conversions, and you know, try to have that when
you're in a lower tax here before things bump up
down the road. So it's really being tax smoothing over time.
So it's a great strategy to look at and analyze.
Last one, on the retirement planning essentials, we've got hsas,
(33:36):
and these are probably one of the most underutilized instruments
out there. Really have a great triple tax advantage which
is unique. And what we mean by that is for
HSA's and this really the qualify for HSA's is making
sure that you have a high deductible health insurance plan.
If you do, you can sign up for an HSA.
(33:56):
The HSA doesn't have to be tied to your work.
It could be independent, independently established, but you get a
tax deductible contribution at any income, which is unique. There's
not a lot of things out there like that. You
can have tax free growth on investments, so most HSA
platforms will allow you to actually invest the funds in stocks, ETFs,
(34:18):
mutual funds, et cetera. And it can be tax free
withdrawals if used for qualifying medical expenses. So that's that's
that's pretty powerful. Can be a great tool of instrument
for a lot of people to look at.
Speaker 1 (34:29):
Is there a limit on how much one can put
into an HSA any given your blake.
Speaker 3 (34:33):
Yes, there's an individual limits as well as a family max.
So do need to watch those guidelines specifically. Gotcha next
part that we have a state planning essentials. You know,
it's vital to review core documents like a will, trust,
power of attorney, healthcare directive, and you know that's important
(34:55):
to do at all ages. You know, they're they're I
think there's a notion with that a state planning documents
are just for old people, and.
Speaker 4 (35:03):
That is not the case. You know that that is uh.
Speaker 3 (35:07):
You know, we we've met with a lot of attorneys
and spoken on this many times over the years. Everyone
has a state planned you know, it's just if it's
the government directed one or not. So you know, it's
it's great to look at and analyze that, double check
beneficiary designations annually. You know, can can't stress the importance
of that enough. One of the easiest things to overlook,
(35:30):
you know, is there additional child, grandchild? You know, is
there a marriage change, was there someone pass et cetera.
It's important to look at those and just just make
sure that they are fully.
Speaker 4 (35:42):
What you intend them to be.
Speaker 3 (35:44):
And you know, if you think about it, at the
end of the day, state planning protects both your wealth
and your love once it's that simple.
Speaker 2 (35:50):
Yeah, yeah, So there's a lot of things too we
have on our list overcoming common financial challenges, and that's
tackling debt strategically. So the difference between good and bad debt,
and a real quick example might be good debt supports
long term value, such as a mortgage, student loans if
used wisely. I have to put that in there. But
(36:12):
then also bad debt loses value quickly. That could be
high interest credit cards, interest card balances, some auto loans,
that type of thing. So looking at that and if
you have questions, we can help you sort through that
as well. So I think that's really important. Evaluate whether
debt load is manageable. Also, just because you have a
(36:33):
credit limit of this on your credit card doesn't mean
you have to ring the bell and hit that, So
you know, that type of thing. Smart decision making with
debt versus investing. Also, an example could be a mortgage
at three percent versus investments averaging seven percent, So then
it does make sense not to use that seven percent
money to pay down the mortgage in many cases, and
(36:55):
I know there's different numbers to use for that as well,
but in some situations, allowing investments to grow and may
make more sense than paying up that low interest. Aggressively
taking action and staying accountable is one of the most
important parts of all of this today. Creating a plan
you can stick to and by the use of professional guidance,
(37:17):
I think that can help you create a realistic sustainable plan,
and advisors like us can help with tracking the progress,
adjusting the plan as life evolves. And believe me, life
does evolve, Things do change, the road changes, there's bumps
in the road, so very very important to understand that. Also,
we can help keep you accountable throughout those regular by
(37:39):
using those regular check ins and and also redefining and
fine tuning those goals along the way and then showing
you how close are you on to being on track
or are you overachieving, which is a great we want
to be able to tell you that. But the new
year is a perfect time to reflect, recenter, and build
(38:00):
a plan for twenty twenty six and we can definitely
help you with that. So as you head into a
new year, take the time to reconnect with your financial
goals and make sure your plan supports the life you
want to build. The steps you take today, however, small,
can create meaningful momentum for the future. And our team
at samdpled and Associates or Sandbold Financial Group we've been
(38:23):
known as both. Our team is here to help you
create a thoughtful, personalized strategy for the year ahead. And
if you would like to work with us or check
us out, give us a call to get on track
for twenty twenty six. Our number at Sandbold Financial Group
is nine five two five four four two eight three seven.
(38:47):
Again it's ninety five two five four four two eight
three seven. You can request a consultation online at sandveldfg
dot com. But take it in your own hands for
twenty twenty six. Don't put it off. Procrastination can hurt
instead of help. So we have many people that listen
(39:08):
to our show for many years and then they call
and say when they come in for the first apployment,
I kind of tease them a little bit and say,
why did it take you so long? And after that
first apployment. They actually mentioned that they ask themselves, why
did we wait so long? So we appreciate your loyalty
on the show. The next step for you would be
to give us a call.
Speaker 1 (39:28):
And it's not that hard, Blake, is it? Those appointments
You wouldn't define them as painful. They're pretty interesting.
Speaker 4 (39:34):
Well, I think we at least think they're interesting. I
hope our clients do as well.
Speaker 3 (39:40):
But no, I mean we try to make it simple
to start off. I mean we really sent on our questionnaire,
asked you to bring along statements for your investment accounts,
and really just start to get the baseline for.
Speaker 4 (39:50):
Where you're at.
Speaker 3 (39:51):
I mean, from there, it's really a simple conversation around
what your goals are, what's important to you, where you
want to be in the future, and we start building
out a plan, uh and you know, really in conjunction
with the planet, will come back with investment thoughts, recommendations
on where you're at, where we see weakness, where we
see opportunity, and ways to improve on that. So we
(40:14):
think it's fun. We love what we're doing here, and
we're very blessed, blessed to do that and get to
help a lot of our clients out and
Speaker 1 (40:20):
So financial planning for the new year take that first
step at nine five two five four four two eight
three seven or sandbold fg dot com
Hello, and welcome to Money Talks with Terry Sandbold and
Blake Sandbold and gentlemen, what do you have on tap
for us this very last weekend of the year.
Speaker 2 (00:11):
Well, we're going to talk about today financial planning for
the new year, because we are heading into a new year.
A lot of things that took place in twenty twenty
five and looking forward to twenty twenty six, things are
aligning I think pretty well. So everybody should have a
good twenty twenty six if planning accordingly. Let's use that
as a I like it a little bit of a
(00:32):
connotation there, But no, we're going to talk about some
of the key things to think about as you planned
for the upcoming year. So we're going to wish everybody
a happy new year a few days early here and
be ready for twenty twenty six.
Speaker 1 (00:47):
Let me just ask you as we kind of kick
this off. You know, this is year two of a
new presidential administration, and I know we talk about stats.
Is the second year of an administration when you start
seeing the world of what they've done in the first
year really coming out, at least economically speaking, anyway.
Speaker 3 (01:05):
Yeah, usually it is, and you know it's it's interesting.
I mean historically that can lead to a little bit
of choppiness, just as it's uh you know usually change
that's that's coming through.
Speaker 4 (01:15):
But you know, we'll time all off to tell on that.
Speaker 3 (01:18):
You know, I think, uh, there there are it's a
different way to think about it, is it's really the
prove it type year, and you know, are the are
the policies, Are the hype that that we've had that
we've talked about, is that actually going to follow through
and have economic growth or not?
Speaker 4 (01:35):
So that's that's really what we'll be looking for next year.
You know, it does the.
Speaker 3 (01:40):
Economic growth follow what what we think it may be
or or not. You know, we we've recently got some
uh interest rate cuts which can help boost overall economic
activity as well. But yeah, you think you're completely right
you think about a presidential cycle, it really is the
proven year of the cycle.
Speaker 4 (02:00):
So we'll see what happens.
Speaker 3 (02:01):
But there's definitely a pro business environment right now.
Speaker 2 (02:06):
Well, yeah, so the first year usually is kind of
the sorting out year, but there's been a lot of
accomplishments in twenty twenty five, so this is probably a
little bit faster pace. Let's put it that way. Than
what we usually see with the presidential first term or
first year.
Speaker 3 (02:20):
Yeah, you know, it's interesting you look at the first year.
Usually the first half is very strong and the second
half is tougher, just as it starts to get to
that spot of saying, you know, there's kind of still
whatever hangover from a prior administration, whereas those policies, everyone
kind of knows the environment that we're in, what the
economic conditions are, and then when it starts to get
(02:43):
to that change usually can be a little bit schoppier.
And you know, clearly the speed that things happen this year,
there's a lot of change, very fast. I mean, to
have the amount of change that we did during the
first quarter into the start of the second quarter, you know,
it kind of got through. It's a different cycle this
year then how things normally follow. It's at Terry's exact
(03:03):
point on that. So you know, you kind of already
had the second half maybe a little bit of twenty
twenty six, you know, second year stuff compressed in this year,
so we'll see. But you know, even that being said,
you know, we do still think it's going to be
approve a year from the standpoints. You know, you think
everything that's gone through with one big beautiful bill. You know,
(03:25):
manufacturing is supposed to be coming back here, that CAPEC spending,
you know, really incentivizing AI companies and collaboration. You've had
that first leg of that build out, so now we
now we need to see that second leg actually happen
and those those will be the goalposts that we're looking
for next year.
Speaker 1 (03:43):
Absolutely well, if you're new to our show, welcome and Terry.
Each and every week we like to do a Money
Talks mailer of the week. So along with our financial
planning for the new year topic, what do we have
for our miller.
Speaker 2 (03:54):
Yes, we have about a ten page mailer entitled seven
Principles of Long Term Investing, So if you'd like your
copy today, just give us a call. Again, it's seven
Principles of Long Term Investing. Our number at Sandfold Financial
Group is nine five two five four four two eight
three seven. Again it's nine five to two five four
(04:15):
four two eight three seven. And as we go through
the show, if something perch your interest, we are in
the business of helping people better their financial futures. So
if you'd like a second opinion or a first opinion,
or that first opinion of twenty twenty six. Give us
a call also, we'd be glad to talk to you
or meet with you as well. And we work in
the areas of money management of course, investment portfolios as
(04:39):
well as retirement planning, and we work on the insurance
side as well as the investment side. But ken goes
back to when we first started in the business. One
of our very first ten, our first ten clients, seven
of them wanted to plan for retirement. So that's back
in nineteen eighty six when I started the firm. That
was one of the main goals in one of the
(05:00):
key areas that we really gravitated towards. And we're helping
thousands of people with retirement planning nationwide now as well
as their investment portfolios. So if you're looking for somebody
that's looking out for your best interest, give us a call.
We'd be glad to help. Perfect.
Speaker 1 (05:16):
So what are what's the first tip for planning for
the new year? What are we what should we be
thinking about?
Speaker 2 (05:22):
Well, I mean one thing to think about, you know,
as we turn the page into a new year, it's
a perfect moment to pause, reflect and map out a
financial plan that supports your goals and a fresh year.
Often you often it offers a clean slate, so to speak.
You know a lot of people when they when they
(05:43):
think about the beginning of the year, you see all
these all these commercials to buy all these tubs and
get organized with your house and different things. We want
to get you organized with your financial future as well.
So very very important to take a look at how
to plan and go forward. But wide long term financial
planning matters. The first step is do you have a plan?
(06:04):
Do you really have a plan? Take a question, you know,
it does matter, let's put it that way. But having
a plan is one of the first steps. So by
doing that, what your goals should be is what are
your major financial goals and how are you going to
achieve your major financial goals. So one thing that comes
to mind is long term planning really breaks big goals
(06:28):
into manageable steps. Because if you say, oh, I'd like
to retire with X amount of dollars at sixty five
and you're twenty five, thirty five, forty five years old,
you can't just wish it to happen. You have to
make it happen, you know, or you don't want to
just keep your fingers crossed and hope it happens so
you can actually plan this out. And the thing that
(06:48):
we always talk about is time can be an enemy
or an ally for you. So the thing that we
when we sit down with people, or if we lined
up thousands of people and said what is the one
thing you would have changed preparing for retirement, the biggest
one would say, I wish I would have started earlier, yeah,
Or another one might be I wish I would have
(07:10):
saved more money and known how money compounds at an
earlier age. So it doesn't have to be a big
dollar amount or a big percentage amount, but getting started
is very very key to have successful successful financial future.
So really looking at that, I mean the other thing
(07:30):
is looking at long term planning provides direction and keeps
you motivated when the goal seems so far away. So
I think that's important for people too, because I think
a lot of people do come into our office for
the first time, say when they're fifty years old, because
they realize, you know, I got a sixty five as
(07:51):
an example, isn't that far away, and now it's time
to get serious. But we'd like you to get more
serious earlier.
Speaker 4 (08:00):
Yeah, well, you know, I'd add to that.
Speaker 3 (08:01):
I think a lot of people it is once once
their kids maybe are starting to get out of the house,
it's starting to say, well, you know, maybe cash flows
starting an increase, what do I do for this last sprint?
And you know, I think it is you can see
some people try to run the risk of saying, well,
I'm going to have too much risk in my portfolio
to try to catch up those last five ten years.
Speaker 4 (08:22):
And that's that's really where having.
Speaker 3 (08:24):
That plan, you know, we we do something with our
clients as well, really called a long term vision map,
and you know, mapping out you know, what our personal
goals you have five, ten, fifteen, twenty thirty years down
the road in different five year increments, and what our business.
Speaker 4 (08:40):
Goals or you know, career goals.
Speaker 3 (08:42):
That you may have at different intervals along the way.
And you know, I think it's a lot of people
find it helpful just because you know, it's it takes
away some of that initial finance part with it and
just says, okay, if we didn't have to fully think
about that, where would we want to be? And you know,
then it allows us to reverse back into that say Okay,
if these truly are the goals, this is what's driving you,
(09:05):
Let's actually show underline what you need to do to
get there and how to make that attainable. And it
really helps you know, bridge the emotional and the personal
financial goals together, especially for those large milestones.
Speaker 1 (09:17):
Perfect. Now that makes that makes a lot of sense.
Let's go ahead and take our first break here on
Money Talks. We're talking about financial planning for the new year.
And it's a really smart time no matter how old
you are to get thinking about it. We'll be back
in just a moment. Welcome back to Money Talks with
(09:39):
Terry Sandbold and Blake Sandbold. And today we're talking about
financial planning for the new year. Terry, and quite timely
I might say.
Speaker 2 (09:46):
Well, there's you're up to a good start. You're right
at the beginning of the year. What are your goals
for the year? Your financial future should be on one
of your top one of the things on the top
of your list to how to achieve more financial success
for you and your family. So today we're talking about
that and how to be planned out for the new year.
(10:07):
So why does long term financial planning matter? One of
the reasons that it does matter is to build financial security,
and that comes from being prepared. If you are not prepared,
you're kind of guessing at it. You're hoping it works
and will it really work? So putting that together is very,
very important, and you're not the only one in the family. Also,
(10:28):
sometimes in the family setting, there could be one of
one of the couple, if you're married or have a
significant other, one of the two of you is very
involved and you understand where you're at, But does the
second person understand that or are they being a good
participant in that? Because when we get to retirement planning,
we have to keep in mind if it's a couple,
we have to satisfy both of them throughout their retirement future,
(10:51):
not just one of them. And if the one that's
involved in all the investments and all the insurances and
all the planning is not relaying to the second person
them and by themselves and then they pass away first,
that second person is really almost starting over. So we
don't want that to happen.
Speaker 4 (11:09):
Yeah. Yeah, I think that's a big part, and I
mean it is.
Speaker 3 (11:13):
It is being a team and being there, being present
for a lot of those check in meetings. Yeah, it
all goes together. Next one we have those is managing
risk helps planning helps you anticipate uncertainty.
Speaker 4 (11:29):
We always kind of joke that's the one thing.
Speaker 3 (11:30):
That we know will happen in life, right is uncertain
times will be ahead and you know, trying to navigate
that as best we can so that that can manage
you know, you think about risk, it can manage things
like life insurance, disability insurance, launder care insurance, et cetera.
Speaker 4 (11:45):
Those are all risk mitigation tools and strategies.
Speaker 3 (11:49):
But there you know, it can go a step further
to managing the risk in your portfolio and how that
aligns with your lifestyle.
Speaker 4 (11:55):
Time rising for when you need goals and risk that
you can.
Speaker 3 (11:58):
Actually take on, afford to take on or not in
a portfolio. And you know, I think the big thing
with that is it's all adaptive over time. You know,
there's different stages in your life where you want to
take on or reduce or eliminate different types of risk,
and you know that's that's part of working with a
financial planning group is to stay on top of that.
Speaker 2 (12:21):
Yeah, another thing going forward on our list, we have
supporting retirement readiness and a well designed plan can help
you save consistently over time, and it is very crucial
for building a strong retirement nest egg. So looking at
that sooner than later is very very critical for people.
Also on leaving a legacy, for example, the state planning
(12:42):
can ensure your assets go where you intend them to
go and reduce the burdens for the loved ones because
you can make a big difference on how you do
state planning or legacy planning. Taxes get involved, whether it's
a state tax, income tax, capital gains, all of these
different things. Taking a look at how that goes when
the dollars go, does the tax bill go with it,
(13:03):
or can you plan accordingly to help alleviate some of
that by properly doing your estate planning, so it could
be tax strategies on your investments they do matter as well.
College funding. How are you preparing for college? Are you
going to have a massive loan because you have not
prepared and have a negative return or are you going
to build your dollars over time to have that dollar
(13:26):
amount sitting there And you can build a plan that's
tied to college directly, or you can do outside investment,
a custodial account and not have it tied that direction.
But the idea is trying to build and let the
interest work to your advantage instead of having a negative
interest on a credit card or a loan balance going
against there. Because as we all know, college funding is
(13:48):
very very expensive right now, Well is it going to
be like in ten or twenty years? And if you
have to tack on a loan interest rate on top
of that actually makes it a worse scenario instead of
a better scenario. So, and we don't want you to
borrow from your retirement to fund college either. So that's
(14:09):
really important when people are looking at that. Where is
the money going to come from?
Speaker 3 (14:14):
Dollars and dollars out that's the name of the game.
So setting financial goals for the new year?
Speaker 4 (14:22):
You know why goal setting matters?
Speaker 3 (14:24):
And uh, you know, I think this is a large
people that you know going into the your people is
debates that we do financial New Year's resolutions, financial resolutions
or what does that actually look like? But I think
underlying is you know why goal setting matters. You need
a clear starting point.
Speaker 1 (14:40):
Uh.
Speaker 3 (14:41):
Goals provide structure. They're the foundation for building the financial roadmap.
Without them, it's hard to measure progress or or make
meaningful adjustments.
Speaker 1 (14:49):
I have a question for you, Blake on your first
your first bullet there, when you said you need a
clear starting point, are you also saying is that another
way of saying, we gotta we gotta take sort of
inventory of where you are so that you know what
what your starting point is?
Speaker 4 (15:04):
Right?
Speaker 1 (15:04):
Is that what you help people do is define that.
Speaker 4 (15:07):
Absolutely. Yeah, it's it's knowing where you're at right now.
Speaker 3 (15:11):
And you know, another way of think about it, there's
no time like the presence is a large part that
we say. But yeah, you know, if you don't fully
know where you're at, it's tough to know where you want.
Speaker 1 (15:22):
To go for sure.
Speaker 4 (15:23):
Simple for sure.
Speaker 2 (15:25):
So when we when we say setting up a plan,
it's not a it's not a plan to start the
plan down the road.
Speaker 1 (15:31):
Really, oh shucks series, Or it shouldn't be.
Speaker 2 (15:36):
It should not be a twenty twenty seven goal as
you go into twenty twenty six. Okay, so we want
to get get you started, and I think that's really important.
I think with the emphasis on the on the kids
accounts now Trump with the one thousand dollars project that
he's working on for kids, it might give a bit
of a mindset to people to think about, yes, we
(15:58):
should start earlier.
Speaker 3 (15:59):
You know.
Speaker 2 (16:00):
The thing that could be good with that is if
that goes through and gets funded and all that. Along
with that should be a letter showing a compound interest
table and showing how that can work at different rates
of return over time. So it's almost like, here's a roadmap.
If you leave it till twenty or twenty one, here's
the dollar amount under certain assumptions. If you let it
(16:20):
grow till forty, here's the dollar amount. If you let
it grow to retirement, here's the dollar amount. You know,
all of those types of things. But it's trying to
get that mindset as early as we can into kids'
minds as well as parents' minds. Sometimes it puts a
little pressure on the parents to well, they're proposing this
to my newborn. I guess I better get my act
together too. You know, sometimes that can be a good thing.
(16:44):
So really looking at that, when you're looking at setting
the financial goals, besides them being long term goals, you
might break goals into timeframes, meaning short term money. It
could be as simple as maybe increasing your four and
K contribution for twenty twenty six from say, if you're
contributing five percent, maybe go to six percent. Increase that
(17:05):
a little bit. Midterm saving for home down payment, what
type of investments work best for that so you have
the down payment so you have flexibility how you buy
your next home or your first home. And then long term,
reaching a target wealth amount by retirement. So going after
those goals, we would like to see everybody at retirement
(17:26):
get an increase in pay, not a decrease in pay
when they get to retirement. So that's the fun part.
And we actually tell people that, yeah, based on your
assets and how you've invested, you can take an increase
in pay and they get a big smile on their faces.
We'd never ever thought we'd be able to do that,
so that's really a fun thing to be able to
tell them.
Speaker 4 (17:44):
SOT.
Speaker 2 (17:46):
Our job is to help you look at the pieces
what types of investments might be good for short term,
mid range, and long term, because one type of investment
is not the clear source for everything, and I think
that's where the planning comes in, that's where our background
comes in. That's where we can help you analyze before
you make decisions on what to do next with your
short term and mid range and long term type of strategy,
(18:08):
and then you know, looking at how that how it
does balance together is very very key. And paying yourself first.
I think it's one thing that we can't go without saying,
because what happens a lot of times is if you
get your paycheck and you look at it and say, well,
I can spend all this because I'm getting another paycheck
(18:29):
next in two weeks. Pay yourself first, invest something and
then spend the rest, and then you're going to achieve
your financial goals along the way. So I think that's
very important to think about that.
Speaker 1 (18:40):
Absolutely.
Speaker 3 (18:42):
Yeah, you know, it's again it goes to the key
part of having a plan and showing how how different segments,
different buckets work and collaborate together. I think that's that's
really the key stage of it. And you know, I
think it's it's tough for a lot of people to
combine all those those different buckets and make a meaningful
outcome and say, and you know, how how can we
(19:04):
still find the long term when we're you.
Speaker 4 (19:06):
Know, worried about you know, our furnace going out.
Speaker 3 (19:09):
You know, at a couple in our neighborhood this last
week where that's what they You know, we saw the
furnace trucks lighting up on everything, But it really is
having that plan to make sure that you have each
one of those buckets fulfilled.
Speaker 1 (19:20):
Absolutely, and I think too, it's it's nice to have
somebody that can kind of guide you through all the
considerations and and say don't freak out. You know, we
do this every day. Here's how you chunk it down.
We need to take a quick break for news here
on Money Talks, but we'll be back with more in
just a couple of moments. You're listening to Money Talks
(19:47):
with Terry Sandbold and Blake Sandbled and we're talking about
financial planning for the new year this week Blake, and
you know, there's some really interesting nuggets in here.
Speaker 3 (19:57):
There are and to go along with as always, we've
got a great Money Talks mail of the Week entitled
seven Principles of Long Term Investing very timely and goes
through you know, what are what are long term considerations
to have in this and how to stay disciplined for
the long term when you are looking at your plan.
Speaker 4 (20:16):
Talks about acid allocation, UH.
Speaker 3 (20:19):
Investment philosophy and more so, if you'd like a copy,
give us a call nine to five to two five
four four two eight three seven, or go online to
sampled fg dot com.
Speaker 1 (20:29):
Perfect.
Speaker 3 (20:31):
So looking at talking through the plan a little bit further,
reviewing and adjusting your financial plan. Great thing to look
at coming into the year. Life has changed, world has
changed and more uh so, so probably appropriate time to
think about it. So the biggest thing to do is
start off with assessing your current financial health. Reflect on
whether you stayed on track this year or not. And
(20:53):
you know that's something where this time of year, we're
starting to look at a lot of yearly financial plan
type reviews to say.
Speaker 4 (21:00):
What worked, what didn't work well?
Speaker 3 (21:02):
What do we need to adjust for the coming year
or years to stay on targets. Identify any obstacles meaning
unexpected expenses. Income changes could be downward or upward, fluctuating
spending habits. You know, I asked yourself was my spending sustainable?
Do I need better guard rails or not? Maybe it's
(21:25):
looking through that Amazon budget over the last year and
saying was it exactly where I intended it to be
or not?
Speaker 4 (21:33):
But important to focus on that.
Speaker 3 (21:35):
Adjusting for life changes is really a next consideration. Life
requirements here's some life events that can require adjustments. Job changes, promotions,
birth of a child. You know, as our family knows,
there's twelve grand kids out there right now, so there
(21:56):
have been spending adjustments.
Speaker 4 (21:58):
Let's say that they.
Speaker 2 (21:59):
Go along massive spending adjustments. And what's interesting right at
this moment, right now, all twelve are seven and under.
Speaker 1 (22:09):
You guys always find a way you sandaled to overachieve.
Speaker 2 (22:13):
We're trying, well, we're building the empire for the future,
so that's how that works. But no, and number thirteen
is on the way. That'll be announced next in twenty
twenty six, so that's that's already a plan in motion
and that don't take place in a few months here.
So yeah, more going.
Speaker 3 (22:34):
Yeah, next couple of topics we did have on their
marriage or divorce clearly of a financial planning, a conversation
and that's one that's important to have leading.
Speaker 4 (22:44):
Up to that.
Speaker 3 (22:44):
On both ends, big purchases or relocations and you.
Speaker 4 (22:49):
Know that can be a new home cabin.
Speaker 3 (22:53):
I think a lot of people this time of year
they think about maybe a property down South Florida, Arizona
and more or car payment. So each bring new financial
considerations and financial advisor group like us can help walk
that through and say are we on track with this
plan or what adjustments do we need to make?
Speaker 2 (23:10):
Yeah, and I think that's important when you're looking at
a big project, or say you're buying a second home
or you're changing homes and you're looking at how should
I finance this? Should I take some out of investment,
should I how much should be a mortgage or combination?
Those types of things will help look at the text
strategies of how to accomplish that in the best possible
fashion for you and your family. So big purchases, people
(23:33):
that I've worked with us over the years, they know
that when they're looking at those, they do give us
a call and say, I'm looking I'm looking to spend
fifty thousand dollars on this.
Speaker 4 (23:41):
What's the best way to do it? You guys?
Speaker 2 (23:43):
And I think that's important that they reach out and
they understand we can help them look at that.
Speaker 1 (23:47):
Yeah, it's a good idea.
Speaker 2 (23:49):
You know, because if your investments are, for example, just
a simple one and we'll probably have this in our
information today, but if your investments are making ten percent plus,
just use a simple number and you can get a
mortgage at five percent again, and I know Rachel will
hire that right now, but just use that as an example.
You may not want to take that ten percent plus
(24:10):
money on performance to pay down that mortgage. You may
want to finance that you have the difference grow for you,
keep it flexible, maybe use some of the interest off
of that ten percent or more to pay the payments
and still overachieve the rest of it. So those are
things will help you analyze take a look at you know,
as you talk about things, there's good debt and bad
(24:31):
debt as well, So we look at the overall picture
for you, the holistic approach to financial planning. So when
we're looking at strategies, of course investing for the future,
diversification is a big deal. Making sure that you're revisiting
what you would call or what we would call your
risk tolerance. And it's kind of like, if I simplified it,
(24:54):
it's kind of like from one to ten. If one
is low risk but low performance, ten is high risk
but very volatile. Well, what number are you? And if
you're married or have a significant other, what number are
each of you separately? Because the thing that's really important
is we have to help both of you and satisfy
both of you on the risk versus return scenario. So
it's really important to look at that, and our firm
(25:17):
will look at that and build that accordingly. So we're
not going to say everybody needs to do this, because
we know everybody has a different risk tolerance with their
own financial planning. So very very important the consistency of
what you're doing investing for the future. Consistency is very
very important. Time in the market matters more than timing
(25:37):
the market. We do have a chart that goes through
that right in front of us that is I think
very very eye catching. You take a look at this
and for you listening, I guess I can go through
it real quick, if that's all right, Blake. The fact
of missing out on the best days of the market.
And this is a chart that was a twenty five
(26:00):
your chart from the end of September of two thousand
to the end of September twenty twenty five. And what
it does is it's tracking the S and P five hundred,
the daily returns and it's annualized return. So it's saying
if you if you looked at the twenty last twenty
five years and looked at the average return of the
S and P five hundred being in it every day
(26:22):
throughout the year. The average was eight point three seven percent.
Speaker 1 (26:26):
Wow.
Speaker 2 (26:27):
Now here's what's interesting. If you missed the ten best
days per year, and that's all you missed, and all
the rest was in the S and P five hundred,
but you missed the ten best days per year, that
eight point three seven percent return average goes down to
three point ninety five percent, less than half that and
(26:49):
you only took away the ten best days of the year.
Speaker 1 (26:51):
Amazing.
Speaker 2 (26:52):
Now here's how it goes if you take the twenty
best days away instead of that eight point thirty seven
average being in the market in the S and P
all year, and the average is over twenty five years,
so we've had up and down years throughout that for sure.
But if you take away the twenty best days per
year on that last twenty five years, your average return
(27:13):
is two point zero four percent.
Speaker 1 (27:16):
It's amazing.
Speaker 2 (27:17):
You take away the thirty best days instead of that
eight point three seven take away the thirty best days,
it's point four nine percent, half of one percent. You
take away the best forty days of each year, and
that average goes down to minus point eight nine percent,
(27:40):
and we have on our chart even taken away the
best fifty days per year. So remember, if you're in
the S and P last twenty five year average was
eight point thirty seven. Take away the best fifty days
each year, your average is minus two point one seven percent.
Speaker 1 (27:58):
That's the wrong direction.
Speaker 2 (28:00):
So when we're talking about time in the market versus
timing the market, that's a real quick example and a
pretty telling commentary on the difference. Even missing the best
ten days. I think that one jumps jumps out to
you a lot as well, going from eight point three
seven down to three point ninety five per year. So
(28:21):
anything to add to.
Speaker 3 (28:22):
That, like no, it's you know, it is staggering. And
you know what you find with most of the best
days is they come pretty much right after the worst day.
So it's you know, most recoveries follow you know, a
V or a W shaped pattern, So usually right after
you see kind of that extreme flush, usually see a
large rebounds and recovery on things.
Speaker 4 (28:43):
So it's it does take.
Speaker 3 (28:45):
You know, give the mindset of say that you need
to stay disciplined, you need to stay focused when you're investing, know.
Speaker 4 (28:51):
What you own, why you own it and what the strategy.
Speaker 3 (28:54):
Is behind it, and you know, investing is definitely not
something to make knee jerk reactions to. You know, you
definitely want to have a strategy behind what you do,
and that those numbers really speak to that.
Speaker 1 (29:06):
No, that's that's absolutely amazing. And that chart is such
a simple little bar chart, but it's perfect because you
can it just it lays it right there. I mean,
it's kind of shocking to see.
Speaker 2 (29:17):
Yeah, and I think that's really important as far as
and we're not saying you need to have one hundred
percent of your money in the stock market all the time,
because you might have a short term goal and maybe
that should be a little bit more diversified. Not necessarily
all in the stock market, but your short term, mid
range and long term money. We can stagger that as
far as the risk level and what types of investments
(29:39):
we would build for you. So that's what we do.
Will build complex models for you or individually pick the
pieces for you the combination, but then the monitoring of
it and the readjustment of that along the way, and
taken advantage of when there are opportunities because twenty twenty
five versus twenty twenty six. Some of the things that
(29:59):
we're not the stellar return types of investments for twenty
twenty five could be towards the top for twenty twenty six.
So there's going to be a lot there's gonna be
a lot of opportunities out there, and that swhere weepy'all
that a pro proactive money management approach can help you.
Speaker 4 (30:15):
For sure.
Speaker 1 (30:16):
Absolutely. We've got to take a quick break here on
Money Talks, but we'll be back in just a moment.
It's Money Talks with Terry Sandbold and Blake Sandvold, and
we've been talking about financial planning for the new year
this hour. Terry and I don't want to forget about
our Money Talks mailer of the week. We do it
(30:37):
every week for each show.
Speaker 2 (30:39):
Well, absolutely, and our mailer this week is seven principles
of long Term Investing. And for a lot of you,
maybe seven is your lucky number. So give us a call.
We'll send that out to you. Seven principles of long
term investing. When you think about it, A lot of
people at the beginning of the year, I want to
make some New Year's resolutions. Let's help make some New
(31:01):
Year's financial resolutions for you. So I think one way
to get started with those resolutions is to get started.
So we get started.
Speaker 1 (31:11):
Sounds so to be.
Speaker 2 (31:12):
It's just two words on your list. It's very easy
to write down. But then the next step is to
actually do that. We can help We can help you
do that, it's the bottom line. So give us a
call if you'd like that. Also give us a call
if you'd lack a no cost opinion, whether it's first
opinion or second opinion, of what's do next with your
financial future. A lot of people try to do financial
(31:33):
planning all by themselves. You don't have to take this
on all by yourself, so give us a call. We'd
be glad to help. We've been doing this since nineteen
eighty six and we want to help you too. So
again our numbers nine five two five four four two
eighty three seven. Yeah.
Speaker 3 (31:50):
So, next part that we had for looking at some
of the planning for twenty twenty six retirement planning essentials.
So a couple key tips here. First, as a SIP one,
maximize your employer match if possible. So if you've got
a four oh one K four to three B simple
array that you know has a matching allocation on that.
Make sure you at least make it enough to get
(32:11):
full advantage of that match. You know, it's really free
money coming from your employer, a great way to enhance
your return quickly. Younger younger investors can benefit from WROTH
iras due to tax free growth. We have that conversation
a lot with our clients in their twenties and thirties
and saying, you know, you could have thirty forty fifty
years of tax free growth. Sure you don't get the
(32:33):
upfront tax deduction on that, but you know, conceptually usually
you're in your lower tax bracket as well in the
younger years, so that could just add to that further,
pretty powerful ROTH conversions in gap years between retirement and
rm ds that can be incredibly helpful.
Speaker 4 (32:51):
So if you think.
Speaker 3 (32:52):
About someone right now retiring, say they're sixty five years old,
so they've got a ROTH IRA rollover IRA or pre
tax money and after tax money or a trust. We
know at age seventy three you're gonna have to start
pulling out required minimum distributions from your IRA certain percent
every year. So you know, strategy that we do with
(33:13):
some people saying, well, we're going to live more of
your after tax income for a couple of years, do
the conversions, and you know, try to have that when
you're in a lower tax here before things bump up
down the road. So it's really being tax smoothing over time.
So it's a great strategy to look at and analyze.
Last one, on the retirement planning essentials, we've got hsas,
(33:36):
and these are probably one of the most underutilized instruments
out there. Really have a great triple tax advantage which
is unique. And what we mean by that is for
HSA's and this really the qualify for HSA's is making
sure that you have a high deductible health insurance plan.
If you do, you can sign up for an HSA.
(33:56):
The HSA doesn't have to be tied to your work.
It could be independent, independently established, but you get a
tax deductible contribution at any income, which is unique. There's
not a lot of things out there like that. You
can have tax free growth on investments, so most HSA
platforms will allow you to actually invest the funds in stocks, ETFs,
(34:18):
mutual funds, et cetera. And it can be tax free
withdrawals if used for qualifying medical expenses. So that's that's
that's pretty powerful. Can be a great tool of instrument
for a lot of people to look at.
Speaker 1 (34:29):
Is there a limit on how much one can put
into an HSA any given your blake.
Speaker 3 (34:33):
Yes, there's an individual limits as well as a family max.
So do need to watch those guidelines specifically. Gotcha next
part that we have a state planning essentials. You know,
it's vital to review core documents like a will, trust,
power of attorney, healthcare directive, and you know that's important
(34:55):
to do at all ages. You know, they're they're I
think there's a notion with that a state planning documents
are just for old people, and.
Speaker 4 (35:03):
That is not the case. You know that that is uh.
Speaker 3 (35:07):
You know, we we've met with a lot of attorneys
and spoken on this many times over the years. Everyone
has a state planned you know, it's just if it's
the government directed one or not. So you know, it's
it's great to look at and analyze that, double check
beneficiary designations annually. You know, can can't stress the importance
of that enough. One of the easiest things to overlook,
(35:30):
you know, is there additional child, grandchild? You know, is
there a marriage change, was there someone pass et cetera.
It's important to look at those and just just make
sure that they are fully.
Speaker 4 (35:42):
What you intend them to be.
Speaker 3 (35:44):
And you know, if you think about it, at the
end of the day, state planning protects both your wealth
and your love once it's that simple.
Speaker 2 (35:50):
Yeah, yeah, So there's a lot of things too we
have on our list overcoming common financial challenges, and that's
tackling debt strategically. So the difference between good and bad debt,
and a real quick example might be good debt supports
long term value, such as a mortgage, student loans if
used wisely. I have to put that in there. But
(36:12):
then also bad debt loses value quickly. That could be
high interest credit cards, interest card balances, some auto loans,
that type of thing. So looking at that and if
you have questions, we can help you sort through that
as well. So I think that's really important. Evaluate whether
debt load is manageable. Also, just because you have a
(36:33):
credit limit of this on your credit card doesn't mean
you have to ring the bell and hit that, So
you know, that type of thing. Smart decision making with
debt versus investing. Also, an example could be a mortgage
at three percent versus investments averaging seven percent, So then
it does make sense not to use that seven percent
money to pay down the mortgage in many cases, and
(36:55):
I know there's different numbers to use for that as well,
but in some situations, allowing investments to grow and may
make more sense than paying up that low interest. Aggressively
taking action and staying accountable is one of the most
important parts of all of this today. Creating a plan
you can stick to and by the use of professional guidance,
(37:17):
I think that can help you create a realistic sustainable plan,
and advisors like us can help with tracking the progress,
adjusting the plan as life evolves. And believe me, life
does evolve, Things do change, the road changes, there's bumps
in the road, so very very important to understand that. Also,
we can help keep you accountable throughout those regular by
(37:39):
using those regular check ins and and also redefining and
fine tuning those goals along the way and then showing
you how close are you on to being on track
or are you overachieving, which is a great we want
to be able to tell you that. But the new
year is a perfect time to reflect, recenter, and build
(38:00):
a plan for twenty twenty six and we can definitely
help you with that. So as you head into a
new year, take the time to reconnect with your financial
goals and make sure your plan supports the life you
want to build. The steps you take today, however, small,
can create meaningful momentum for the future. And our team
at samdpled and Associates or Sandbold Financial Group we've been
(38:23):
known as both. Our team is here to help you
create a thoughtful, personalized strategy for the year ahead. And
if you would like to work with us or check
us out, give us a call to get on track
for twenty twenty six. Our number at Sandbold Financial Group
is nine five two five four four two eight three seven.
(38:47):
Again it's ninety five two five four four two eight
three seven. You can request a consultation online at sandveldfg
dot com. But take it in your own hands for
twenty twenty six. Don't put it off. Procrastination can hurt
instead of help. So we have many people that listen
(39:08):
to our show for many years and then they call
and say when they come in for the first apployment,
I kind of tease them a little bit and say,
why did it take you so long? And after that
first apployment. They actually mentioned that they ask themselves, why
did we wait so long? So we appreciate your loyalty
on the show. The next step for you would be
to give us a call.
Speaker 1 (39:28):
And it's not that hard, Blake, is it? Those appointments
You wouldn't define them as painful. They're pretty interesting.
Speaker 4 (39:34):
Well, I think we at least think they're interesting. I
hope our clients do as well.
Speaker 3 (39:40):
But no, I mean we try to make it simple
to start off. I mean we really sent on our questionnaire,
asked you to bring along statements for your investment accounts,
and really just start to get the baseline for.
Speaker 4 (39:50):
Where you're at.
Speaker 3 (39:51):
I mean, from there, it's really a simple conversation around
what your goals are, what's important to you, where you
want to be in the future, and we start building
out a plan, uh and you know, really in conjunction
with the planet, will come back with investment thoughts, recommendations
on where you're at, where we see weakness, where we
see opportunity, and ways to improve on that. So we
(40:14):
think it's fun. We love what we're doing here, and
we're very blessed, blessed to do that and get to
help a lot of our clients out and
Speaker 1 (40:20):
So financial planning for the new year take that first
step at nine five two five four four two eight
three seven or sandbold fg dot com
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Two Guys (Bowen Yang and Matt Rogers). Five Rings (you know, from the Olympics logo). One essential podcast for the 2026 Milan-Cortina Winter Olympics. Bowen Yang (SNL, Wicked) and Matt Rogers (Palm Royale, No Good Deed) of Las Culturistas are back for a second season of Two Guys, Five Rings, a collaboration with NBC Sports and iHeartRadio. In this 15-episode event, Bowen and Matt discuss the top storylines, obsess over Italian culture, and find out what really goes on in the Olympic Village.
iHeartOlympics: The Latest
Listen to the latest news from the 2026 Winter Olympics.
Milan Cortina Winter Olympics
The 2026 Winter Olympics in Milan Cortina are here and have everyone talking. iHeartPodcasts is buzzing with content in honor of the XXV Winter Olympics We’re bringing you episodes from a variety of iHeartPodcast shows to help you keep up with the action. Follow Milan Cortina Winter Olympics so you don’t miss any coverage of the 2026 Winter Olympics, and if you like what you hear, be sure to follow each Podcast in the feed for more great content from iHeartPodcasts.