Retirement Reality Podcast
Ep 40: Are You Giving Your Biggest Assets Enough Attention?

Ep 40: Are You Giving Your Biggest Assets Enough Attention?

June 25, 2020

If you really took inventory of your financial situation, you might find that you’ve been taking for granted some assets that make up a huge piece of your puzzle. Is it possible you should be putting a little more thought into some of these assets? We’ll tell you why on today’s episode.

 

Read more and get additional financial resources here: https://principalpreservationservices.com/ep-40-are-you-giving-your-biggest-assets-enough-attention/ 

 

Today's show schedule: 

2:04 – Mailbag question: I counted up the mutual funds in my IRA and it appears that I have 33 different funds. Is that adequate diversification?

3:46 – Mailbag question: I’m 55 and I have about $300K saved for retirement but I feel like I’m behind compared to people I know. Am I in trouble?

5:23 – Are you paying enough attention to the biggest assets you already own?

First asset: 401k

7:47 – Second asset: Your house

9:39 – Third asset: Social Security

12:40 – Fourth asset: Your future savings potential

14:12 – Fifth asset: Having a bunch of smaller accounts

Ep 39: Hidden Gems in Your Financial Portfolio

Ep 39: Hidden Gems in Your Financial Portfolio

June 18, 2020

If you’re like most people, you have old financial accounts that you haven’t looked at it recently and the statements are filed away collecting dust. You might not think much of them, but those accounts might be hidden gems for your portfolio if used in a different way. Let’s talk about where you should look and what you could gain out of these old investments.  

 

Read more and get additional financial resources here: https://principalpreservationservices.com/ep-39-hidden-gems-in-your-financial-portfolio/ 

Today's show schedule: 

1:02 – Hoping to get educational seminars going again soon.   

2:35 – More virtual seminars going up to the website as well.  

3:11 – Mailbag question 1: An online calculator gave me an amount I need for retirement. How accurate do you think that is?

5:02 – Mailbag questions 2: I have almost $150,000 sitting in my savings account. I don’t like getting no interest on it but I’m also too scared to invest right now. Should I just leave it in the bank?  

8:02 – Let’s talk hidden gems starting with the old 401k.  

11:43 – What should you do with the life insurance policy you have?

14:00 – How can savings accounts be hidden gems?  

16:11 – Last hidden gem: old pension fund.    

19:04 – We work with clients to go through all of these things in a discovery meeting.   

Ep 38: Should You Follow Dave Ramsey’s Financial Advice?

Ep 38: Should You Follow Dave Ramsey’s Financial Advice?

June 11, 2020

 Should you follow Dave Ramsey and his baby steps to financial success? On this episode of the Retirement Reality Podcast, Mike takes a critical approach to help you determine if Dave’s advice is right for everyone. 

Read more and get additional resources here: https://principalpreservationservices.com/?p=39469

Today's show schedule: 

1:04 - Mike looks forward to summer weather and football season.

3:01 - Mike shares about his favorite charity to support.

5:55 - Is the debt snowball a good strategy?

7:43 - Should you just invest in mutual funds?

10:07 - Can you spend eight percent of your money in retirement?

12:42 - Is it a good idea to stop saving for retirement while getting out of debt?

14:23 - Dave Ramsey has seven baby steps, but are they for everyone?

17:14 - Know who the audience is for these financial experts.

Ep 37: Financial Terms You Should Know During the Pandemic

Ep 37: Financial Terms You Should Know During the Pandemic

June 4, 2020

With so much happening in the financial world these past few months, there can be a lot to process when you’re trying to understand the market and the economy. Certain financial terms are being used a lot more now than they were the past decade so we will help you understand what these things mean and how they apply to you.

 

Read more and get additional resources here: https://principalpreservationservices.com/ep-37-financial-terms-you-should-know-during-the-pandemic/ 

Today's show schedule: 

1:28 – Mike and his family staying active outdoors.

3:08 – Getting to Know Mike: What do you do to relieve stress?

5:20 – What would you call what’s happening right now with the market?

7:17 – Help us understand the difference between a recession and a depression.

8:55 – Explain the types of recoveries: U-shaped, V-shaped, W-shaped, L-shaped

10:24 – What is the VIX index?

12:38 – Is this an opportunity for tax-loss harvesting

15:17 – How can index funds benefit people during a downturn?

16:46 – What is rebalancing, how does it work, and how often should you?

19:48 – Our team is in the office and available for people that want to take meetings in person.