Retirement Planning – WealthStyle Podcast

Planning For Retirement: Social Security and Medicare with Elaine Floyd

By wealthstylepodcast | September 25, 2023

In today’s episode of WealthStyle, Iván Watanabe and Evan Wohl interview Elaine Floyd, Director of Retirement Life Planning at HorsesMouth about the intricacies of our nation’s support systems; Social Security and Medicare.

Listen as Elaine shares her expert knowledge by debunking some common misconceptions and detailing the benefits these programs provide using real-life examples and historical facts.

Whether you’re approaching retirement, caring for a loved one, or simply curious about recent changes and restrictions regarding Social Security and Medicare, this episode is a must-listen!

Gain insight as Elaine discusses:

The importance of accessing your retirement income plan for the duration of your lifetime
Common mistakes people make when claiming Social Security, and the varying spousal benefits
The differences between Medicare Part A and Part B
How to navigate your options regarding your Health Savings Account (HSA) and Medicare
And more

Resources:

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Guaranteed Income for a Happy Retirement with Tom Hegna

By wealthstylepodcast | June 19, 2023

What’s the secret to a happy retirement?

If you want to enjoy your retirement to the fullest, you must have a sense of purpose and guaranteed income for the rest of your life. That way, you have something to look forward to every day, without the fear of running out of money!

In this episode of WealthStyle, Iván Watanabe and Evan Wohl sit down with Tom Hegna, a retirement expert, best-selling author, public TV host, and international speaker!

Together, they explore:

Seven simple steps for a financially secure retirement
What drives happiness and longevity in retirement (based on research)
How you can achieve guaranteed lifetime income and a blissful retirement
Benefits of annuities and the different types available in the market
How to make your life purposeful and socially engaging during retirement
And more

Resources:

Decreasing Investment Loss During Retirement with Dr. Wade Pfau
“Paychecks and Playchecks: Retirement Solutions for Life” by Tom Hegna
“Don’t Worry, Retire Happy! Seven Steps to Retirement Security” by Tom Hegna
“Retirement Income Masters: Secrets of the Pros” by Tom Hegna

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Connect with Tom Hegna:

About Tom Hegna:

Tom Hegna is an economist, author, and retirement expert. As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature “Paychecks and Playchecks” retirement approach, helping baby boomers and seniors retire the “optimal” way.

Tom specializes in creating simple and powerful retirement solutions. He has the unique ability to pump up a crowd, make people laugh, and solve complex financial problems using easy-to-understand words, ideas, and stories. He’s been featured in Business, Forbes, Money Rates, and many other leading publications. He is available to speak with businesses, government organizations, professional associations, financial professionals, and their clients across the globe.

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When Is the Right Time to Buy a House?

By wealthstylepodcast | May 19, 2023

Buying a home may seem like the right thing to do, but is it?

There are many factors to consider before you purchase a home, and the most obvious is, can you afford the mortgage payments? Then on top of that, there are annual property taxes and monthly utilities like gas and electricity. And don’t forget about the less obvious expenses like furniture and decor, and unexpected repairs or upgrades.

The reality is, it requires a lot of financial planning before you put an offer on a house.

In this episode of WealthStyle, Iván Watanabe and Evan Wohl explore the different reasons why their clients want to buy houses, how the costs associated with owning a home factor into financial and retirement planning, and how much the housing market has changed post-pandemic.

Iván and Evan discuss:

The financial costs of owning a house after the initial purchase
How your financial plans will shift when planning to buy a house
The role of mortgage and interest rates and how they are constantly changing
The emotional effects of buying a home
And more

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How the Secure Act Has Changed Retirement Planning with Joshua Caron

By wealthstylepodcast | April 10, 2023

The Secure Act was one of the most significant systemic rewrites of retirement planning in recent history. These changes created opportunities for all ages, from young adults just out of college to individuals just starting retirement.

In this episode, Evan Wohl speaks with Joshua Caron, Vice President of Federal Affairs at Finseca, on the Secure Act, how it changed retirement planning, and the individual aspects of the Secure Act 1.0 and 2.0.

Josh discusses:

Why the shift away from pensions was so important in retirement planning
How student debt conflicted with retirement planning for those fresh out of college
The change to overfunding 529 accounts and how Secure Act 2.0 changed the tax penalties for the account
Why 401(k)s are no longer enough for retirement income and the impact of longevity on retirement planning
And more

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Connect with Josh Caron:

About Josh Caron:

Joshua Caron is the Vice President of Federal Affairs for Finseca. Originally from Massachusetts, he attended Arizona State University for both his undergraduate and graduate degrees. His primary role is to advocate for policies that allow for more Americans to live financially secure lives with a focus on the advanced markets.

Prior to joining Finseca, he worked for several political campaigns, including those former President Barack Obama and former Congressman Harry Mitchell (D-AZ). He lives with his wife, daughter, and chocolate lab in St. Anthony Park, St. Paul MN.

About Evan Wohl:

Evan’s clients trust him with the responsibility to guide them through the complexities of personal finance. He provides clarity and insight on how to measure and improve your cash flow as well as whether or not you are on track to accomplish your various financial goals. The firm takes a macroeconomic approach to planning and coordinates all of your financial decisions through the use of a comprehensive economic model.

Evan’s wife, Laurie, and he have three children, Quinn, Parker and Bodie. He currently sits on the board of The Hope Gala. The Hope Gala was created to support fundraising efforts on behalf of The Four Diamonds Fund and The Penn State Dance Marathon (THON™). The Hope Gala contributes to the mission of conquering childhood cancer. All proceeds benefit pediatric cancer patients at the Penn State Children’s Hospital and their families in need of financial aid, medical assistance, and emotional support.

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Decreasing Investment Loss During Retirement with Dr. Wade Pfau

By wealthstylepodcast | December 12, 2022

Retirement income relies solely on the investments and savings created while you still have a paycheck. Leveraging the right tools can decrease the amount loss from market volatility, while keeping you afloat.

In this episode, Iván Watanabe and Evan Wohl are joined by Dr. Wade Pfau, Ph.D, CFA, RICP, founder of Retirement Researcher, and professor at The American College of Financial Services, to discuss some of the research behind retirement planning, and how to increase security around your retirement funds.

Iván, Evan and Wade discuss:

The difference between the accumulation phase and the retirement phase of life
How sequence of returns increases the impact of market volatility on retirement investments
Alternative buffer assets to create security when other assets can’t provide enough income during retirement
Why tax planning is essential to decrease the amount paid rather than avoid taxes all together
And more

Resources:

Journal of Financial Planning
Retirement Planning Guidebook by Wade Pfau, Ph.D, CFA, RICP
Reverse Mortgages by Wade Pfau, Ph.D, CFA, RICP

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Connect with Wade Pfau:

About Dr. Wade Pfau:

Dr. Wade D. Pfau, Ph.D., is a Professor of Retirement Income in the Ph.D. in Financial and Retirement Planning program, Co-Director of the American College Center for Retirement Income, and RICP® program director at The American College of Financial Services.

Dr. Pfau is a co-editor of the Journal of Personal Finance. He has spoken at national conferences of organizations for financial professionals, such as the CFA Institute, FPA, NAPFA, AICPA-PFP, and AFS. He also publishes frequently in a wide variety of academic and practitioner research journals.

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Optimizing Your Charitable Contributions Without The Stress with Jen Mayo

By wealthstylepodcast | September 12, 2022

If you want to donate to a charitable organization, it’s important to know your options.

In this episode, Iván Watanabe is joined by Jen Mayo, the director of gift planning and advisor relations at Essex County Community Foundation (ECCF). Jen explains how with a donor-advised fund, you can give more to your charity of choice while revealing how to donate before, during, and after retirement through effective tax planning.

Jen discusses:

How Essex County contributes to charitable giving
Ways the foundation promotes equity within the community
Why community foundations are essential for financial donations
How donor-advised funds increase the value of donations while reducing stress over decision making
Where charitable giving fits within retirement planning and IRA minimum distribution
And more!

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About Our Guest:

As Essex County Community Foundation’s assistant director of gift planning and advisor relations, Jennifer Mayo focuses on building strong relationships with area professional advisors, who play a key role in expanding support for the region’s nonprofit organizations and collaborative efforts to tackle systemic social challenges. She also provides charitable gift planning and support to Essex County donors as they make decisions about their philanthropic giving and consider a donor-advised fund with ECCF.

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The New 1980s Inflation with Rob Pruett

By wealthstylepodcast | April 11, 2022

After maintaining steady inflation of just under 2% for over a decade, America is now seeing the highest inflation rates since the late 1980s.

In this episode, Iván Watanabe and Rob Pruett explore the rising interest rates and inflation faced by consumers and businesses. They dive into the state of the economy while revealing ways clients can make the most out of the market volatility.

Iván and Rob discuss:

The role inflation plays with consumers and businesses
What the future looks like in terms of inflation and interest rates
Reasons pre-retirees and retirees should invest in their 401(k) plans
How interest rates impact client debt
And more!

Connect with Rob Pruett:

LinkedIn: Rob Pruett

Connect with Iván Watanabe:

About Our Guest:

Robert P. Pruett has been a wealth advisor with Opus Private Client, LLC for 14 years performing planning for high-net-worth individuals, families, and business owners. Rob uses leading-edge advanced personal planning techniques to protect and maximize each client’s wealth, retirement, and estate plans. Rob also consults with 50-to-800-person firms to deliver high-value corporate benefit programs, with a special focus on delivering healthcare savings of 10-15% or more through Opus’ proprietary reimbursement program offering.

His specialties include asset management, institutional investing, tax planning, life insurance, disability, annuities, and long-term care insurance, corporate benefits programs, executive benefit programs, retirement, and estate planning, and legacy and charitable planning.

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