Retirement Talk Radio's Podcast

Big tech has seen strong gains in 2023 and has outpaced most other sectors. In doing so, the S&P 500 has also performed well, but when you take away a handful of tech companies like Apple, Microsoft, Amazon, Meta and others, the S&P 500 is only up 2%. This is a great reminder of why overconcentration can hurt a portfolio. Being overweight in this tech position feels great when the market is doing really well because returns will be strong, but once we get a little turmoil and volatility, portfolios in that sector of the market really go down at that time. We’re going to unpack this topic with Laura Stover, RFC® and Michael Wallin, CFP® on today’s show and provide some context to this idea of stock market concentration. This will dovetail right into a discussion on true diversification because when you have your portfolio segmented appropriately, one down year won’t determine the overall success of your investments. We’ll take you through our process and break down the strategy of diversification that

Every investor, whether you do it yourself or have professional help, needs to understand the fees they are paying because this is one of the most important factors attributing to investment performance overall. Fees can really eat into returns but they might also return better value than you would have achieved without the help. So let’s unpack this idea a bit more with Laura Stover, RFC® and Michael Wallin, CFP® by taking a look at the most common fee structures you might pay a financial professional and the costs that often come with investing in certain products like mutual funds. The value you are achieving over the long run through various market conditions can help you make an assessment, but there are also many services that need to be accounted for when working with financial planners. We want to provide you with relevant information on the show today so that you can make smart financial decisions. We’ll break down some of the numbers to give you a better idea of how to evaluate fees and share other

No one can predict the future of finance, so how do you make sure your portfolio is able to withstand the inevitable swings in the market? The answer is through stress testing, which has proven to be a valuable tool in financial planning. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will walk you through how a portfolio is stress tested and explain what it’s trying to accomplish. The goal is to find out whether you have the most efficient portfolio possible that can give you the most amount of return, with the least amount of risk exposure, and we’ll break down how that’s done. The planning process is often more important than the plan itself and this is a key part of that process. By evaluating the different planning strategies and testing them against the stresses of the market, you’re better able to segregate and segment the assets in your portfolio to provide the income, growth and other elements necessary for financial security. Redefining Wealth® Custom Blueprint Income Plan: https://red

We’re more than halfway through 2023 and we’ve already seen the impact SECURE Act 2.0 has on retirement planning. These first six months have given the financial industry time to identify some of the potential pitfalls that the legislation creates for retirees. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will walk you through these key planning items that SECURE Act 2.0 made adjustments to help you identify areas where you might need to make changes of your own. The reason why these pitfalls exist is because they deal with major planning conversations like Roths, catch-up contributions, and required minimum distributions that are moving back again. All of these things can have a big impact on your long-term success, so we want to stay on top of it now. We’ll cover all the significant changes you need to be aware of, but we’ll also close out the conversation with insight into Social Security strategies and how to get the most out of your benefits in retirement. Redefining Wealth® Custom Bluepr

Fiscally conscious investors want to get the most for their money, and when it comes to working with an advisor, it’s important to understand the fee structure and what value they’ll provide. Now that anyone can research and access information at the click of a mouse, this question is extremely important to ask.   With more than 50 years of experience combined, Laura Stover, RFC® and Michael Wallin, CFP® understand the industry and what it takes to provide financial guidance for people working towards retirement. Those relationships, experience, and opportunity to learn from others is a huge benefit to working with someone like Laura and Michael, which is part of what we want to discuss. In this episode, we’re going to break down the reasons why advisors are worth the fees they charge and how to evaluate the benefits you’re receiving. Returns are important, but the things that can’t be calculated like discouraging market timing and helping you avoid panic selling are two of the critical benefits to having an

Diversification is a risk management strategy that mixes a wide variety of investments within a portfolio. We’d venture to guess that everyone who is listening to this podcast is very familiar with this concept, but it often gets confused with asset allocation. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will unpack diversification on this show and do so using the analogy of ice cream. We all crave this balance within our investments but you don’t want to over-indulge and reduce the effectiveness of what you’re trying to accomplish. All investors have to accept the idea of risk regardless of how conservative their portfolio might be, so proper diversification can help prevent too much exposure to any single type of asset or risk. Find out if you’re diversified and learn more about how we help build this into our clients’ portfolios. Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/ Rate, Review and Subscribe to the Podcast: https://podcasts.apple.com/us

We know there’s always another market crash in the future, but should we be worried that it’s happening soon? An economist named Henrik Zeberg thinks so. He expects a massive blow-off top for equities in near future, and his belief is that the stock market could be headed to one of its biggest crashes in the coming months because the strength of the dollar is on its way down. In this episode, Laura Stover, RFC® and Steve Rumsey, CIO of Optimus Advisory Group, will weigh in on this opinion and share their view on the current state of the dollar. How does it stack up against other currencies and is the fear warranted? We’ll explore whether this is a realistic possibility or if this is just another exaggerated headline. The key, as always, is to have a balanced approach and that starts with a blueprint, a custom income plan utilizing our proprietary LifeArcPlan. We’ll tell you more about how that’s constructed so you don’t fall into the same investor behavior patterns that produce negative results during a down

You’ll never be able to predict the movement of the market but understanding the cycles will make you a better investor. The market goes through different phases and building out a purposeful portfolio will help you stick to your plan through the ups and downs. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will breakdown a recent article about stock market cycles and how to approach your investments depending on what stage you’re in. When you step into retirement, you shouldn’t still be an active day trader or trying to time the market. By understanding the market and having the type of strategy, you’ll be able to navigate those cycles better. Join us to get a better understanding of how we build a balanced portfolio that minimizes risk and employs strategic management, and learn more about how that approach evolves in retirement.   Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/   Rate, Review and Subscribe to the Podcast: https://podcasts.apple.com/us

Many times we find that retirees only look at that investment pillar with the traditional assets in mind. They focus only on investments and ignore critical areas that also need attention.   In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will break down an article on an area of diversification that could qualify for income planning, along with tax planning and estate planning. People can be closed minded to new ideas or non-traditional investments but we want to make sure that no option is left behind.   Today’s discussion on life insurance and annuities could benefit you as a volatility buffer or with tax planning, so it’s worth learning more about. The goal is to utilize a fully diversified portfolio and these tools might be part of constructing that during the Redefining Wealth® process.   Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/   Rate, Review and Subscribe to the Podcast: https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laur

We all have our own savings goals and dreams of retirement, but difficult markets and high inflation can be quite discouraging. Sometimes it feels like you’ll never achieve what you’ve hoped for. So what’s the secret to building wealth and reaching those goals? In this episode, Laura Stover, RFC® is joined by Darlene Tucker, CFP® and Kyle Davis who will break down an article about a path to $10 million and what it takes to reach a milestone like that. For many people, that might seem completely unattainable, but there are steps you can take now to maximize growth and get the best returns on your money.    The key to building long term wealth is consistency, having a plan, and identifying a destination you want to achieve. The numbers show that over time if you have an average rate of return that you’re comfortable with and a consistency in investments, the total returns emphatically produce favorable results. There will always be bumps in the road and issues to navigate, but with a good plan, you can overcome

Being flexible with spending absolutely matters in financial planning and it often gets overlooked when people step into retirement. Most people look at their budget and the assets that they’ve accumulated and that’s where they stop. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will examine an article by Dr. Wade Pfau that discusses variable spending strategies. Whether it’s inflation-adjusted fixed percentage rule, floor and ceiling rule, the ratchet effect, or others, we’ll provide a thorough explanation of most of the spending strategies included in the article, but we’ll keep it high level to help you take away the important aspects from what we want to convey. This show might be a little more academic and in-depth than normal, but don’t tune out because this conversation is critical for investing and distribution. As inflation continues at a high rate and the debt ceiling issues continue to linger, you want to make sure you retirement foundation is on solid ground with the proper income p

Our relationship with money is much like the other emotional relationships we have in other parts of our lives. We tell ourselves we’re done making the same types of mistakes but end up repeating those same behaviors the next time the situation arises. The same thing happens in terms of how we invest our dollars and how we act when the market isn’t going up. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will dive into a recent article that discusses the behavioral side of investing and share what they’ve seen from people as they navigate the rough economic waters we find ourselves in. They’ll also talk about what’s being done from the Fed to improve market conditions and whether a digitalization of money is coming soon. It’s important to have a financial professional on your side to help you through the good times and the bad. Understanding how our behaviors play a role in our decisions will hopefully help you avoid repeating those same mistakes both now and in the future. Redefining Wealth® Cu

We work with people that have investing questions all the time but there are two that investors often boil it down to. They want to know how long they need to be invested to be sure they don’t lose money and how long they need to stay invested to make sure they do better than an alternative investment. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will explain how a successful investment plan has to get measured over the long term to truly evaluate how well it has done. As they discuss, you need to have a long enough duration to let the performance of the solutions you put in place, give you the outcomes you’re looking for. So how do you do that? Let’s take a look at the historical data and see what some of the bright financial minds have said. Then we’ll talk through the key considerations when building an investment strategy that are aimed at success over the long term. Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/   Rate, Review and Subscribe to the

The market has shown some signs that it might be turning around, but we’ve seen quite a bit of up-and-down over the past few years. These fluctuations have created some nice gains at times for investors, but a lack of tax planning can keep you from maximizing your financial gains. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will delve into the power of tax harvesting and the role it plays in creating a comprehensive tax plan. Throughout the show, they will explain how ex-dividend date, the wash rule, and tax thresholds work and why these things are important for making investment decisions. If you don’t have a professional helping you with this, there are a number of potential pitfalls that we’ll discuss today. Join us and discover how utilizing tax harvesting can be a powerful tool in your financial planning arsenal, allowing you to make the most of your income and helping you secure a comfortable retirement. Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/sche

A year like 2022 doesn’t come around too often but those significant market corrections we saw in both equities and bonds made many people begin to wonder about the effectiveness of the traditional 60/40 investment mix. Some people are even saying that there is no longer a use for this portfolio structure. To truly evaluate whether that’s accurate, you have to first understand how to build a proper investment strategy. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® weigh in on this topic and share their insight on building investment plans. They discuss the limitations of the traditional 60/40 portfolio and how a more dynamic bucket approach can help you better navigate the constantly changing economy. There are many different tools to help you build the right portfolio, and we’ll explain how the LifeArcPlan puts a process in place to help you determine what rate of return you need and how best to achieve that over time by blending tactical management with strategic management. Hopefully this sh

The famous boxer Mike Tyson once said, “Everyone has a plan until they get punched in the mouth.” He meant it about his opponents, but we can apply that same idea to financial planning in the middle of a volatile market. How will you react when things first get difficult? Should you trust your instincts or stick to a well-defined process that you already put in place? In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will delve into the critical distinctions between risk tolerance and risk perception as it relates to investment strategies. They explore the role of emotions, information consumption, and self-awareness in making investment decisions, and offer valuable insights on creating a comprehensive retirement plan while avoiding common mistakes. Managing your portfolio through a volatile market all begins the process, and we’ll give you insight into how our Redefining Wealth® process helps you build a plan that avoids these mistakes and helps to secure a stable future for you and your family.

Reaching retirement doesn’t mean you can put your plan in cruise control because plenty of risks remain. One that all recent retirees are dealing with is the sequence of returns risk. This is an overlooked risk when someone is stepping into retirement that doesn’t get nearly enough attention, in our opinion. The five years before and the first five years in retirement are the most critical because of the risk that comes from the order (or sequence) from which your investment returns occur. If the market declines a lot in the early years of retirement, your withdrawals could significantly reduce the longevity of the portfolio. In this episode, Laura Stover, RFC® and Darlene Tucker, CFP® will tackle this risk head-on and explain the impact it can have over the course of your retirement. Plus, they’ll take you through some of the safeguards that can be put in place to protect you from the inevitable downturns in the market to ensure savings can last you throughout retirement.   Redefining Wealth® Custom Blueprin

For many people, the goal in life is to have enough wealth that you can pass it on to people or organizations you care most about, and your advisor should be a key partner in helping you with that estate planning. However, not every financial professional is equipped to help you secure your legacy and give you that peace of mind. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will discuss the importance of estate planning and how to ensure your financial advisor is qualified to guide you through the process. Listen to their insights on the consequences of neglecting non-probate assets, the advantages of using a revocable living trust for your IRA, and how to determine the right trust structure for your unique situation. There’s a lot of great information online to help guide you through this process but if you truly want protection for your estate, you need to make sure you have correct verbiage about how assets go in and when/if they can come out in the future and that’s the role professionals

We spend most of our life saving and investing to accumulate as much wealth as possible before retirement, but there’s not nearly as much thought and research given to how you take that money out once you’re in retirement. Decumulation, in our mind, is one of the most important planning challenges because the fundamental nature of decumulation is much different from accumulating assets. In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will identify the four unique risks that decumulation presents in retirement: sequence of returns, longevity, taxes and spiking expenses. We’ll take you through each of these individually and explain the potential problems that arise if you haven’t planned for them. That’s why we make sure our Redefining Wealth® process puts an income plan in place before you step into the decumulation stage. It’s essential to do that before you transition because of these risks and the huge issues they pose. You also want to have the right balance between the different types of inve

When things are down, everyone’s risk profile gets much more conservative. Emotions shift as the market does, and we spend a lot of time consulting clients to help them keep balance. One of the products that we discuss more in this type of environment is the fixed index annuity, which people often love or hate. FIAs are designed as competition to banking products, and they’re built to help make sure individuals are not in a position of losing value based upon market conditions. Right now, most people would love to see that hedge of protection around their principle. That’s why we’re focusing our attention on FIAs for this episode. Laura Stover, RFC® and Michael Wallin, CFP® will help you better understand the role these annuities play in a plan, how they help balance out a portfolio, and the impact market volatility has on this investment.   Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/ Rate, Review and Subscribe to the Podcast: https://podcasts.apple.com/us/podcast