Estate Planning Essentials with Attorney Lauren Jackson

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

Player FM - Internet Radio Done Right

تمت الإضافة منذ قبل four أعوام

المحتوى المقدم من Scott Sierens. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة Scott Sierens أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.

Standup Comedy "Your Host and MC"

1
Mack Dryden "Dentist Visit" Bonus Show #119 7:46

منذ 11 يومًا7:46

التشغيل لاحقا

قوائم

إعجاب

احب

7:46

Send us a text On this very funny short Bonus Show, standup comic Mack Dryden shares his story about going to the Dentist...you'll never believe what happens...Hilarious! Look for Mack Dryden's "NEW" Dry Bar Comedy Special... Please Listen, Enjoy, and Share where you can...Thanks!! Support the show Standup Comedy Podcast Network.co www.StandupComedyPodcastNetwork.com Free APP on all Apple & Android phones....check it out, podcast, jokes, blogs, and More! For short-form standup comedy sets, listen to: "Comedy Appeteasers" , available on all platforms. New YouTube site: https://www.youtube.com/@standupcomedyyourhostandmc/videos Videos of comics live on stage from back in the day. Please Write a Review: in-depth walk-through for leaving a review. Interested in Standup Comedy? Check out my books on Amazon... "20 Questions Answered about Being a Standup Comic" "Be a Standup Comic...or just look like one"…

منذ عام واحد 1:24:42

MP3•منزل الحلقة

Here’s some of what we discuss in this episode:

0:00 – Intro

6:25 – Why do we need estate planning documents?

10:15 – The importance of a healthcare power of attorney

28:44 – The importance of a power of attorney for property

46:50 – What does having a will in place do?

49:53 – How does the probate process work?

1:04:31 – The complexities of guardianship

Learn more about Lauren:

https://laurenjacksonlaw.com/

Want to get in touch?

Web: https://sierensfinancialgroup.com/

Email: office@sierensfinancialgroup.com

Phone: 847-235-6989

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

Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ

156 حلقات

#Trading #Careers #Business #Scott Sierens #401k #Chicago #Elgin #Financialplanning #Healthcare #Illinois #Roth #Scottsierens #Wealthmanagement #Yourlifeyourmoney #Pension #IRA #Retirement #Tax

Estate Planning Essentials with Attorney Lauren Jackson

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

published منذ عام واحد

MP3•منزل الحلقة

Here’s some of what we discuss in this episode:

0:00 – Intro

6:25 – Why do we need estate planning documents?

10:15 – The importance of a healthcare power of attorney

28:44 – The importance of a power of attorney for property

46:50 – What does having a will in place do?

49:53 – How does the probate process work?

1:04:31 – The complexities of guardianship

Learn more about Lauren:

https://laurenjacksonlaw.com/

Want to get in touch?

Web: https://sierensfinancialgroup.com/

Email: office@sierensfinancialgroup.com

Phone: 847-235-6989

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

Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ

156 حلقات

#Trading #Careers #Business #Scott Sierens #401k #Chicago #Elgin #Financialplanning #Healthcare #Illinois #Roth #Scottsierens #Wealthmanagement #Yourlifeyourmoney #Pension #IRA #Retirement #Tax

ทุกตอน

1
5 Clear Signs It’s Time to Retire 18:32

منذ 10 weeks18:32

18:32

Are you starting to feel like you might be ready to retire but can’t quite pinpoint why? If so, today’s episode is perfect for you! We’ll explore five clear signs that it may be time to move on to the next chapter of your life. Join Scott as he breaks down these key indicators, including one crucial sign that should apply in every case- being financially prepared to take that next step. Don’t miss this insightful episode as Scott shares real-life stories to help you recognize these signs and determine if they apply to you! Here’s some of what we discuss in this episode: 0:00 – Intro 3:11 – You can’t wait to retire 4:30 – You don’t enjoy work anymore 7:01 – Things are changing at work 11:27 – You desire more personal or family time 13:54 – You’re financially prepared to retire Want to get in touch? Company website: https://sierensfinancialgroup.com/ Podcast website and resources: https://maxretirementshow.com/ Phone: (847) 235-6989 Contact our team: office@sierensfinancialgroup.com Schedule your no-cost introductory call: https://sierensfinancialgroup.com/schedule-a-meeting/ Join us for our next financial workshop: https://sierensfinancialgroup.com/ Check out our free guides: Unlocking Hidden Tax Savings Guide: https://lifemoneyshow.com/taxes/ Social Security Benefits Guide: http://lifemoneyshow.com/socialsecurity Will Your Money Last As Long As You Do Guide: https://sierensfinancialgroup.com/ Check us out on YouTube: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ Facebook: https://www.facebook.com/SierensFinancial/ LinkedIn: https://www.linkedin.com/in/scott-sierens-sfg/…

1
Big Retirement & Tax Updates Coming in 2025 25:51

منذ 12 weeks25:51

25:51

Big changes are on the horizon for 2025, and this episode is all about keeping you in the loop. From updates to 401(k)s, Social Security, and Medicare to new tax brackets and changes for inherited IRAs and HSAs, we’re covering it all. Whether you’re retired, approaching retirement, or just beginning to map out your plans, this discussion is for you. Here’s some of what we discuss in this episode: 0:00 – Intro 2:30 – 401(k)s, 403(b)s and 457s 6:45 – IRAs and Roth IRAs 8:08 – Social Security and Medicare updates 13:08 – Tax changes 18:34 – Health savings accounts 20:58 – Inherited IRAs for non-spousal beneficiaries Resources for this episode 401k Changes https://www.irs.gov/newsroom/401k-limit-increases-to-23500-for-2025-ira-limit-remains-7000 https://www.cnbc.com/2024/11/23/401k-changes-2025.html#:~:text=For%202025%2C%20employees%20can%20defer,top%20of%20the%20%2423%2C500%20limit Social Security & Medicare https://www.ssa.gov/news/press/factsheets/colafacts2025.pdf https://www.kiplinger.com/retirement/medicare/three-medicare-changes-on-the-horizon-for-2025 https://www.cms.gov/newsroom/fact-sheets/2025-medicare-parts-b-premiums-and-deductibles Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

1
The Reasons Your Retirement Transition Isn’t Easy (And How to Fix It) 25:33

منذ 14 weeks25:33

25:33

Scott recently met with a prospective client who asked, “Why isn’t the transition into retirement easy?” While there’s no “easy button” for retirement, it doesn’t have to feel overwhelming or confusing either. In today’s episode, Scott explores why retirement, or the transition into it, might feel difficult, and why many people find the process more challenging than expected. Here’s some of what we discuss in this episode: 0:00 – Intro 2:57 – The junk drawer of accounts 10:13 – Savers who have a hard time spending 15:58 – Putting together your retirement vision Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

1
3 Big Retirement Regrets! 25:52

منذ 16 weeks25:52

25:52

A random, retired YouTuber did a simple video exploring the top 5 regrets from other retirees he interviewed (all in their 70s). It blew up to almost half a million views (and counting). In today’s episode, we’re diving into three of the most impactful regrets from this list and offering proactive steps you can take to avoid making the same mistakes in your own retirement. Here’s some of what we discuss in this episode: 0:00 – Intro 3:04 – The phases of retirement 5:25 – Wishing they retired earlier 13:14 – Wishing they had taken better care of their health 17:15 – Wishing they would have spent more early in retirement Retirement regrets video https://www.youtube.com/watch?v=mNUSJ3juAbA Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

1
2 MAJOR Reasons to Overhaul Parts of Your Retirement Plan 18:20

منذ 18 weeks18:20

18:20

How do you know when it’s time to make updates to your retirement plan? With a personal story as the backdrop, Scott explores two major categories of life changes that can (and should) influence your financial strategy. The first category revolves around changes in financial needs. Whether it's an unexpected job change, a decision to retire earlier than planned, or simply wanting to take on new travel adventures, these scenarios require careful consideration and potential updates to your investment and income plans. The second category focuses on family changes. Scott explains how family dynamics, whether it's a marriage, divorce, or the birth of a grandchild, can affect your retirement plan. Join us today as we talk about the importance of maintaining a flexible and adaptable strategy that can accommodate the unexpected twists and turns of life! Here’s some of what we discuss in this episode: 0:00 – Intro 3:53 – Changes in your financial needs 10:09 – Family changes and impact on your retirement plan 15:49 – Wrapping up Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

1
Year-End Tax Reduction Strategies (Part 2) 27:28

منذ 20 weeks27:28

27:28

In this second part of our year-end tax reduction series, we dive deeper into actionable steps to reduce your long-term tax burden. If you missed part one, we discussed what makes up taxable income, tax planning vs. tax preparation, and got into some year-end tax planning strategies. In this episode, we’re shifting the focus to strategies you can implement now to minimize your future tax liability. Stay tuned to learn about Roth conversions, charitable giving, and more ways to keep more money in your pocket. With the Tax Cuts and Jobs Act set to expire soon, now is the time to act. Listen today to avoid surprises come tax season! Here’s some of what we discuss in this episode: 0:00 – Intro 4:12 – Roth conversions explained 9:27 – Charitable strategies 14:55 – When stock options should be exercised 16:44 – Tax harvesting 19:51 – The annual gift exclusion 22:03 – Avoiding the big surprise Donor Advised Funds Video - https://youtu.be/RTZMTCrKqCs Qualified Charitable Distributions Video - https://youtu.be/Q3amqWf_G-Y Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

1
Year-End Tax Reduction Strategies (Part 1) 38:05

منذ 23 weeks38:05

38:05

You've worked hard for your money, and naturally, you want to keep as much of it as possible instead of handing it over to Uncle Sam. Fortunately, there are smart strategies to help reduce your tax burden and keep more of your earnings where they belong- in your pocket. And, as the end of the year approaches, it's the perfect time to start thinking about these tax reduction strategies. In part one of this two-part conversation, Scott breaks down the difference between tax preparation and tax planning and provides a detailed walkthrough of a hypothetical couple's financial situation to illustrate how different income sources and savings impact their taxable income. As the episode progresses, he shares several year-end tax strategies that you should consider implementing before December 31. Here’s some of what we discuss in this episode: 0:00 - Intro 6:47 – Tax preparation vs. tax planning 9:22 – How income planning ties into tax planning 17:47 – Understanding what your taxable income is 23:06 – Tax brackets 27:19 – Workplace retirement plans 32:08 – Health Savings Account 33:37 – Backdoor Roth IRA Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

1
Election 2024, The Stock Market & Your Retirement Savings: Separating Fact from Fiction 34:30

منذ 25 weeks34:30

34:30

Feeling uneasy about your finances with election season approaching? You’re not alone. Political uncertainty often raises questions about market stability, and it’s easy for that anxiety to seep into concerns about your retirement savings. Join Scott as he breaks down market trends during election years, and explores how elections can affect retirement accounts like IRAs and 401(k)s. Don’t miss these actionable insights to help you stay focused on your long-term financial goals, even during election uncertainty. Here’s some of what we discuss in this episode: 0:00 - Intro 4:18 – Common concerns among investors about the election 8:19 – How the stock market performs in election years 12:15 – How the market has performed across past presidencies 16:20 – Focusing on what matters most to you 20:25 – Impact of election on IRAs and 401ks 25:56 – Tax Cuts and Jobs Act 29:42 – Focusing on controllable factors Resources for this episode: Investor Fear CNBC Article: https://www.cnbc.com/2023/11/13/investors-fear-the-2024-elections-may-hurt-retirement-savings.html The 2024 Election and Your Finances: https://www.thestreet.com/retirement-daily/your-money/the-2024-election-and-your-finances How Does the Stock Market Perform in an Election Year? https://ofdollarsanddata.com/how-does-the-stock-market-perform-in-an-election-year/ Investing During an Uncertain Election Year: https://www.fidelity.com/learning-center/trading-investing/election-market-impact Average Stock Market Return Under Democratic and Republican Presidents: https://www.fool.com/investing/2024/07/05/average-stock-market-return-democrat-republican-pr/ Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

1
401k FAQs Near Retirement 33:44

منذ 27 weeks33:44

33:44

When you’re nearing retirement, a lot of questions can arise when it comes to decisions around your 401k. In this episode, Scott answers 5 frequently asked 401k questions- specifically for those nearing retirement. Don’t miss out on this essential guide to managing your 401(k) as you approach or enter retirement! Here’s some of what we discuss in this episode: 0:00 - Intro 4:16 – Using target date funds 11:46 – Catch-up contributions 17:00 – Company offering 401k advising for a fee 22:00 – Company stock in 401k 25:54 – What should I do with my 401k? What Should I Do With My 401k Video: https://lifemoneyshow.com/video/what-should-i-do-with-my-401k-when-i-retire/1720/ Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

1
5 Ways to Simplify Your Retirement Plan 35:41

منذ 29 weeks35:41

35:41

Did you know that the first week of August was National Simplify Your Life Week? Just as decluttering your home can ease the stress of cleaning and upkeep, decluttering your finances can reduce stress when it comes to planning for your retirement. Join Scott as he outlines five key strategies to simplify your retirement plan and reduce stress. Here’s some of what we discuss in this episode: 0:00 - Intro 3:40 – Paperwork to keep vs throw away 8:12 – Tax paperwork 11:09 – Automating your savings 14:32 – Simplifying investments 18:47 – Understanding your investment strategy 22:52 – Simplifying taxes 27:53 – Keeping your retirement paycheck simple Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

1
Are You Independent? 21:43

منذ 34 weeks21:43

21:43

With Fourth of July celebrations recently behind us, we're focusing on the theme of independence in today's episode. But this isn't just about whether you've saved enough money for retirement. Instead, we’ll explore different categories that contribute to our sense of independence in retirement. Here’s some of what we discuss in this episode: 0:00 – Intro 2:00 – Independence from employment 9:10 – Independence from the stock market 14:58 – Independence from the IRS Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

1
Retirement Half-Truths! 20:40

منذ 38 weeks20:40

20:40

We hear a lot of half-truths in the financial world. This isn’t necessarily because people try to make misleading statements, but because sometimes a simple statement just doesn’t quite tell the whole story. Listen in as Scott shares a few examples that show that, while common financial advice can be helpful, it's important to dig deeper and understand the full scope of your retirement needs during the planning process. Here are some of the half-truths we discuss in this episode: 0:00 – Intro 2:58 – “Diversification is key!” 8:15 – "Medicare will cover all your healthcare needs!" 13:51 – "Contribute enough to get the company match!" Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

1
Estate Planning Essentials with Attorney Lauren Jackson 1:24:42

منذ 43 weeks1:24:42

1:24:42

We're thrilled to welcome Lauren Jackson, an experienced attorney based in Illinois, to our podcast today! With over two decades of legal expertise, Lauren specializes in real estate, estate planning, and probate law. Today, she's here to demystify the world of estate planning and offer invaluable insights to our listeners. Here’s some of what we discuss in this episode: 0:00 – Intro 6:25 – Why do we need estate planning documents? 10:15 – The importance of a healthcare power of attorney 28:44 – The importance of a power of attorney for property 46:50 – What does having a will in place do? 49:53 – How does the probate process work? 1:04:31 – The complexities of guardianship Learn more about Lauren: https://laurenjacksonlaw.com/ Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

1
Do I Need Life Insurance in Retirement? 35:34

منذ 45 weeks35:34

35:34

Do you need life insurance once you’ve retired? We get this question all the time in our office. And, as with most things in financial planning, the necessity of it depends on your situation. So, in today’s video, Scott is here to share some examples of why one would or would not need life insurance in retirement. Here’s some of what we discuss in this episode: 0:00 – Intro 5:20 – Focusing on your investment strategy instead of the news 11:11 – The basics of life insurance and its purpose 15:49 – Do single individuals need life insurance in retirement? 19:57 – Do couples need life insurance in retirement? 26:59 – How to determine the right path for your situation Stock Market Crashes Article: https://money.usnews.com/investing/articles/robert-kiyosaki-track-record-stock-market-crashes Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

1
Social Security Fact or Fiction 31:10

منذ 47 weeks31:10

31:10

Navigating Social Security can feel confusing. With a sea of information out there it’s hard to discern what’s fact and fiction. In this episode, Scott addresses five common statements about Social Security and breaks down whether they’re true or false. Here’s some of what we discuss in this episode: 0:00 – Intro 1:04 – Average retirement spending for 65-year-old 7:47 – Social Security taxes 13:39 – Taking Social Security when you retire 18:05 – Keeping all Social Security benefits when a spouse passes 20:30 – Penalties for working and taking Social Security 24:29– Collecting Social Security at 70 vs 62 Article – Retirement Planning: How Much the Average 65-year-old Retiree Spends Monthly https://www.nasdaq.com/articles/retirement-planning%3A-how-much-the-average-65-year-old-retiree-spends-monthly Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
Retiree Regrets 31:45

منذ 49 weeks31:45

31:45

Many of us have experiences that we regret. How can we avoid these feelings in our retirement years? In today’s episode, Scott shares common retiree regrets and practical strategies to sidestep them. Here’s some of what we discuss in this episode: 0:00 – Intro 7:13 – Waiting too long to retire 9:01 – Not having goals and a purpose in retirement 13:06 – Losing touch with family 15:16 – Not enjoying more while you’re younger 21:20 – Not taking your health seriously earlier in life 23:39 – Not planning for long-term care 26:11 – Listener question about spending in retirement 7 Biggest Regrets of Retirees https://finance.yahoo.com/news/7-biggest-regrets-people-retirement-120010632.html 10 Retirees Share Their Biggest Regrets US News Article: https://money.usnews.com/money/retirement/baby-boomers/slideshows/10-retirees-share-their-biggest-regrets Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
Market Risks, Generational Wealth & Happiness in Retirement 37:47

منذ 51 weeks37:47

37:47

In this episode, Scott is going to share some of the wisdom he gained from AE Wealth Management’s Wealth Elite Symposium he recently attended in Nashville, Tennessee. This event featured esteemed speakers from Schwab, former writers for the Wall Street Journal, experts from Fidelity, and more. Listen in as Scott shares his takeaways on market risk, recessions, interest rates, generational wealth, and happiness in retirement. Here’s some of what we discuss in this episode: 0:00 - Intro 3:23 - Market risks, recessions, and the unpredictability of economic events 10:41 - Having an investment strategy that aligns with your timeline, tolerance, and income plan 12:48 - The impact of Fed interest rates on the market + accounting for inflation in your retirement plan 17:56 - How the potential decline in interest rates affects online savings accounts 20:48 - Items to keep in mind during this election year 23:30 - Normalizing conversations around wealth + being transparent with your beneficiaries 31:31 - Bringing happiness into your morning routine Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
Market Highs, Elevated Interest Rates & Your Retirement 36:08

منذ 1 year36:08

36:08

In today’s financial landscape, the market has been hitting new highs and interest rates remain at elevated levels. You might have even heard some of the buzz surrounding the Federal Reserve and interest rate adjustments. We’re here to bring some clarity to the question on many investors’ minds: What does all of this mean for my investments and retirement plans? Is all of this exciting or cause for concern? Here’s some of what we discuss in this episode: 0:00 – Intro 3:20 – Understanding S&P 500 + Recent Market Highs 7:36 – Impact of Economic Indicators on Market Performance 9:56 – Analyzing Historical Returns + Being Cautious of Market Noise 15:12 – Market Performance Impact on Your Retirement 19:40 – Understanding the Federal Funds Rate 25:18 – Interest Rates Impact on Your Retirement 32:06 – Listener Question: Financial Indecision Resources for this episode: JP Morgan Chart – Investing during all time highs https://www.jpmorgan.com/content/dam/jpm/securities/documents/cwm-documents/Is-it-worth-considering-investing-at-all-time-highs.pdf Additional Information https://awealthofcommonsense.com/2024/01/new-all-time-highs-after-a-bear-market/ https://ofdollarsanddata.com/should-you-invest-in-stocks-at-all-time-highs/ Interest Rates USA Today Article - https://www.usatoday.com/story/money/2024/01/31/january-federal-reserve-meeting-live-updates/72409059007/ Nasdaq.com article - https://www.nasdaq.com/articles/wall-street-banks-readjusts-2024-interest-rate-predictions-after-feds-dovish-turn Bankrate – Biggest Winners & Losers - https://www.bankrate.com/banking/federal-reserve/fed-interest-rate-decision-biggest-winners/ https://www.investopedia.com/terms/f/federalfundsrate.asp Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
The Retirement Hazard Zone 32:42

منذ 1 year32:42

32:42

In today’s episode, we’re going to discuss the retirement hazard zone. This is the 10 years leading up to retirement and the first decade of retirement itself. Listen in Scott compares this period to driving through a construction zone, focusing on the need to slow down, think differently, and be prepared for the unexpected. Before we jump in, Scott will discuss the top 5 financial scams targeting retirees and pre-retirees and share some essential tips to help you avoid financial fraud. Here’s some of what we discuss in this episode: 0:00 – Intro 0:58 – Scams targeting older adults + prevention 14:50 – Thinking differently in retirement 19:00 – Preparing for the unexpected 21:56 – Slowing down 25:39 – Listener question on Social Security NCOA Article on Scams https://www.ncoa.org/article/top-5-financial-scams-targeting-older-adults Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
Max out your 401k for Retirement First? Or, Consider Other Investment Options First? 33:59

منذ 1 year33:59

33:59

Are you considering maxing out your 401(k) but unsure what to do next? We face this question all the time at the Sierens Financial Group so today we’ll explore if it’s wise to max out your 401(k) before investing anywhere else. Here’s some of what we discuss in this episode: 0:00 – Intro 2:44 – What’s on today’s show 4:33 – What’s in the news right now? Spot Bitcoin was just approved by the SEC. 8:40 – What should you know about Spot Bitcoin? 10:50 – An 85-year study from Harvard reveals the one simple element that is the key to happiness. 14:26 – Should you max out your 401(k) first, or consider other options before contributing the max? 16:13 – Reasons you might want to max out your 401(k). 19:23 – Reasons you might NOT want to max out your 401(k). 23:08 – Exploring your options and how taxes play a role. 27:00 – Jacob’s question: Should you start Social Security at 67 if you’re still working? References for this episode: https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023 https://scoop.upworthy.com/harvards-85-year-study-reveals-the-number-one-key-to-happiness?utm_source=flipboard&utm_content=topic/personalfinance Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
2024 Tax/Retirement Changes & Strategies 28:51

منذ 1 year28:51

28:51

In today’s show, we’re going to share some crucial changes and strategies that will help you navigate your financial landscape in 2024. Scott will break down the latest adjustments you need to be aware of, from increased standard deductions to updates in Social Security and Medicare. We’ll also share some strategic tips and tactics to position your tax and retirement plans for success in the coming year. Here’s some of what we discuss in this episode: 0:00 – Intro 3:52 – What’s new in 2024? 12:01 – Is your money in the right bucket? 16:30 - Starting HSA contributions 17:34 – Reviewing your investments 19:45 - Considering QCDs 20:35 - Reevaluating tax withholdings 22:32 - Automation 24:31 - Get a plan in place Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

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Tax Loss and Tax Gain Harvesting, Roth 401K Rules, Federal and State Tax Withholdings - Mailbag 32:06

منذ 1 year32:06

32:06

We’re sharing this month’s mailbag episode a bit early, but we have 3 great listener questions lined up for today’s show! Miyuki asks if Scott can explain more about tax harvesting and how to take advantage of a stock loss. Lauren asks about the tax consequences of withdrawing from the Roth side of her 401(k) after 2023. Click play to see what you can learn! Here are the questions we discuss in this episode: Can you explain more about tax harvesting? I sold two individual stocks last month. Both are a loss, but I don’t know how I can take advantage of this loss. I was just laid off. I am past full retirement age and the Roth side of my 401k hits 5 years on the 1st of 2024. Can I withdrawal from the Roth 401K side without tax consequences after 2023? The 401k plan has pre-tax and post-tax (Roth). Is withholding required on post-tax Roth 401k money? Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
The Good, Bad & Ugly of How Technology Is Changing Retirement Planning 25:45

منذ 1 year25:45

25:45

From 24/7 TV channels dedicated to economic news to artificial intelligence, have the advancements in technology made you a financial guru or just more confused? Today, we’ll explore how technology is reshaping financial planning, for better and for worse. Here’s some of what we discuss in this episode: Google is a powerful tool for immediate information, but it’s important to use it with caution Online financial calculators are handy when used properly, but what if your inputs are wrong? Understanding the biases and goals of the media you’re consuming is important Preparing your retirement portfolio for longer lifespans as technology continues to advance Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
Patience Pays: The Power of Delayed Gratification 24:16

منذ 1 year24:16

24:16

In a world where technology has placed instant gratification at our fingertips, it can be hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit, when you should really consider the delayed rewards… Here’s some of what we discuss in this episode: Passing up a 401K match Saving only in tax-deferred accounts Claiming Social Security at age 62 Skipping out on regular health check-ups and preventative care Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
Social Security Penalties, Saving on Rollercoaster Income, Keep the Company Stock – Mailbag Episode 21:50

منذ 1 year21:50

21:50

It’s the last week of the month, so you know what that means! We’re back with a new mailbag episode. We’ve got some great listener questions lined up for you today, so stick around to see what responses and strategies might apply to your situation and help improve your financial picture. Here are the questions we answer in this episode: I retired last month and started my state pension and Social Security. I’d like to do some part-time work, but I’ve heard that this can mess up my Social Security. Should I avoid getting a job? I just started a new job, and my base salary is low enough that it would be hard to contribute to a 401k and still pay my bills. Is it okay to just use my commissions for retirement savings? My company makes contributions to my 401k, but they’ll only do it in the form of company stock. I’ve just been selling it immediately and then investing in something else. Any reason I shouldn’t be doing that? Check out episode 124 here! Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
The Future of Retirement In America: Is The Glass Half Full or Half Empty? 26:43

منذ 1 year26:43

26:43

Are we on the brink of a retirement renaissance or stormy seas ahead? In this episode, we jump into the pressing issues of Social Security, taxes, and the stock market. Whether you're an eternal optimist or cautious pessimist, this episode will equip you with perspectives to plan your retirement years with confidence as we ask the longstanding question, “is the glass half full or half empty.” Here’s some of what we discuss in this episode: The future stability of the Social Security system + what this means for you Navigating tax code changes and implementing strategic tax planning Recognizing short-term volatility as normal, focusing on long-term positive trends, and developing an emotion-free investment strategy Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
Overlooked Retirement Planning Topics 24:39

منذ 1 year24:39

24:39

The retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these essential questions about retirement. Listen in as Scott sheds light on the potential coverage gaps and costs that might catch retirees off guard when it comes to Medicare. He also explores the impact of where you choose to live in retirement, delving into state taxes, cost of living, and other financial considerations, and talks about planning for the care of elderly parents. Stick around to make sure that these 3 overlooked planning topics aren’t costing you time, energy and money in your golden years! Here’s some of what we discuss in this episode: The medical coverage you might need over and above Medicare Where you choose to live during retirement can significantly impact your financial situation- considering state taxes, cost of living, and other regional factors What considerations should be made when planning for the time and financial commitments of caring for elderly parents during retirement? Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
Financial Tweaks that Matter: Small Steps, Big Retirement Impacts 26:48

منذ 1 year26:48

26:48

Ever thought that minor tweaks in your financial plan could lead to major wins? In this episode, we're exploring the surprisingly powerful world of simple financial adjustments. This episode is filled with straightforward changes that you can put into action now to generate positive effects on your financial life. Here’s some of what we discuss in this episode: Building up your rainy-day fund + Keeping the right amount of cash Ensuring your beneficiary designations are up-to-date and accurate The benefits of automating your savings for retirement Consolidating old 401k accounts when you change jobs Reviewing and updating your life insurance policies Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
Universal Retirement Truths 24:04

منذ 1 year24:04

24:04

Retirement is a unique journey for each of us. The thought that there's a one-size-fits-all solution is a myth, but what if we told you there are certain universal truths that can guide every retiree? Dive deep in this episode, where we juxtapose the individuality of retirement plans with the foundational principles that remain consistent across the board. Here are the universal truths we discuss in this episode: Everyone needs an income plan No one can consistently time the stock market successfully Estate planning is not just for the wealthy- it’s for everyone! Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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

1
Use 401k or Alternative, Lump Sum or Stretch Out, Deductions for Charitable Gifts – Tax Mailbag Episode 31:03

منذ 1 year31:03

31:03

We’re back for our third and final week of answering listener questions about year-end tax planning. These episodes are a unique opportunity for you to gain insights from real-world scenarios and inquiries shared by our listeners. In this installment, we're delving into the crucial concept of tax diversification, exploring methods to optimize your tax deductions for charitable contributions, and more. Here’s some of what we discuss in this episode: I’m 56 years old and plan to retire at 70. My wife and I have almost all our money in our 401ks- should we start saving somewhere else because of RMDs? I’m retiring toward the end of the year and have about 16 weeks of PTO I can use. I’m told that I can take this all in my final paycheck or continue being paid on my normal schedule every two weeks for a few months after I retire. Does it matter which way I do it? My husband and I give around $10,000 / year to different charitable organizations. Our tax preparer said we are no longer able to deduct these donations. Is that true? Is there any way to get a deduction again on our taxes? Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ…

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