Retirement Planning Is Harder Than It Used To Be Riverbank Riches With Desmond Taylor: Navigating Financial Wisdom podcast

23:00

Retirees face serious financial temptations that can jeopardize their future, but there are smart ways to avoid them. In this episode, we’ll reveal the most dangerous temptations the average retiree faces and share strategies to help you avoid them, or correct your current course, to keep retirement on track. Here’s some of what we cover in this episode: 0:00 – Intro 1:46 – Carrying too much debt 5:26 – The challenges with changing the spending mindset 10:13 – Deferring taxes 14:36 – Starting Social Security at 62 Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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What Financial Advisors Wish Every Investor Knew 25:25

29 weeks тому25:25

25:25

Imagine you could read your financial advisor’s mind before you even walked through the door for the first time. What would they want you to know? In this episode, we bring you the game-changing insights financial pros wish every saver and investor understood. Here’s some of what we cover in this episode: Why most people don’t know the real risk in their portfolio because they’re focused on upside potential. What’s the motivation behind the information you’re reading and hearing about finances? Well-known national companies aren’t automatically a better option to help you plan. Financial planning goes well beyond picking investments. You don’t need to be uber wealthy to need a retirement plan. Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700.…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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How to Put Yourself in the Best Position in Retirement 31:22

36 weeks тому31:22

31:22

Once you reach retirement, how do you know whether you’re doing everything you can to succeed? There are specific questions you can ask and we will address some of those key topics in this episode. We explore things like annuities, tax efficiency, Social Security, inflation protection, and estate planning to make sure you know you’re in the best position for retirement. Here’s some of what we cover in this episode: How do you know if you should buy an annuity for retirement income? How do you know how to balance saving for retirement and other financial goals? How do you know if your retirement plan is tax-efficient? How do you know how to protect your retirement savings from inflation? How do you know if you need a trust or an estate plan? Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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How Do You Know When You're Ready to Retire? 25:39

38 weeks тому25:39

25:39

Retirement planning is filled with ‘how do you know’ questions. How do you know if you’re saving enough? How do you know if you’ll have enough income in retirement? How do you know if you have enough to retire? We work to answer these with clients on a daily basis, and today we’re going to discuss how we work through these key retirement questions to help people find the right answer. Here’s some of what we cover in this episode: How do you know how much income you’ll need when you retire? How do you know how much money you should have in your savings account? How do you know how much risk you should be taking with your investments? How do you know which retirement accounts (IRA, 401(k), etc.) are best for your situation? How do you know when you're financially ready to retire? Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700.…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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The Top 401(k) FAQs In 2024 (Part 2) 20:02

40 weeks тому20:02

20:02

We're back to tackle your top questions in two comprehensive episodes. Part two addresses essential topics like investment strategies as you approach retirement, managing your 401K when changing jobs, and the ins and outs of catch-up contributions. Gain insights into the complexities of vesting schedules and the potential risks and benefits of including company stock in your 401K. This episode is a must-listen for anyone looking to optimize their 401K and secure their financial future. Here are the questions we’ll cover in this episode: How should I adjust my 401k investments as I get closer to retirement? What happens to my 401k if I change jobs? Can I make catch-up contributions to my 401k? If so, how much and when? How does vesting work with a 401k, and what should I understand about my plan’s schedule? What are the risks and benefits of including company stock in my 401k? Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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The Top 401(k) FAQs In 2024 (Part 1) 26:42

41 weeks тому26:42

26:42

We get a lot of questions about 401ks, and we know they can be tricky to navigate. It’s such a unique account because it’s attached to the employer with different custodians from place to place. But we work with several companies to help manage their 401ks and consider this a specialty of ours at CLC Financial. That's why we're tackling your top questions in two comprehensive episodes. Here are the questions we’ll cover in this episode: My company plan offers a program where I can get advice on my 401k for a low fee. Good idea? Should I contribute as much as I can to my 401k or only as much as the company will match? Should I use target date funds in my 401k? Is taking a 401k loan always a bad idea? When should I take money out of my 401k and roll it over to an IRA? What are the tax implications of contributing to a 401k, and how does it affect my take-home pay? Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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Lies You Might Be Telling Yourself About Money 23:46

42 weeks тому23:46

23:46

In today’s unpredictable financial landscape, it’s easy to fall into the trap of believing common lies about money and retirement. In our latest episode of Riverbank Riches, Desmond will debunk these myths and provide valuable insights to help you navigate your financial journey more effectively. Here’s some of what we cover in this episode: What options do you have for safe money? Why investing in the stock market isn’t only for someone who understands everything about it. Why it’s never too late to start saving for retirement. The importance of starting your savings as early as possible, even if you feel like you still have plenty of time. Do you need to have a certain amount of money to use a financial advisor? Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700.…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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Good Dave, Bad Dave – Breaking Down Dave Ramsey’s Financial Advice 11:58

51 weeks тому11:58

11:58

Dave Ramsey has built a big following for his financial advice and his direct approach to advising people on his media platforms. Like everything in the financial world, there’s some advice that applies well and some that doesn’t. In this episode, we’re going to give you two examples of information that we think is valuable and another that should be challenged. Here’s some of what we cover in this episode: The importance of financial literacy. What you need to know about the S&P 500 and how it’s used for benchmarking. Why paying cash for everything isn’t always the best approach. Debt can be beneficial. If you’re able to manage your money properly, you’ll have greater options for your financial decisions. Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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How to Avoid Retirement Stress 22:37

1 year тому22:37

22:37

Psychologists have determined that retirement is one of the most stressful events that some people will experience in life. In this episode, we’ll look at the ways to proactively deal with the stress surrounding the retirement process. Here’s some of what we cover in this episode: Understand the significant lifestyle changes that come with retirement. Embrace the opportunity to face new challenges. Sometimes the retirement dream isn’t quite so dreamy, which is why you want to keep your options open. Keep your sense of perspective. We’re fortunate to be able to experience this stage of life, so count yourself lucky and go enjoy it. If you have a good plan in place that eliminates as much uncertainty as possible, you’ll find your stress level significantly reduced. Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700.…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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Current State of the Markets & Investing with Matt Heimann, CFA (Part 2) 29:57

1 year тому29:57

29:57

As the financial landscape continues to evolve, investors are seeking clarity and direction in an increasingly complex market. That’s why we wanted to bring on someone who is as tapped into what’s happening in the economy as anyone we know. Matt Heimann, CFA, is the Director of Asset Management at CreativeOne Wealth and he has a deep analytical expertise in building asset allocations and populating investment models. In this two-part conversation, he’ll provide a deep dive into the intricacies of investing, interest rates, and the future of the markets. Here’s some of what we cover in this episode: How to use the yield curve to your advantage. How should investors adjust their portfolios with the anticipation of future rate declines? The two risk we need to focus on today. Can you use historical returns to forecast future returns? How will AI reshape investor strategies? Connect with Matt: https://www.linkedin.com/in/mattheimanncfa/ Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700.…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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Current State of the Markets & Investing with Matt Heimann, CFA (Part 1) 19:19

1 year тому19:19

19:19

The past few years have been marked by incredible volatility in the stock market, which has created plenty of uncertainty for investors. Just in the past five years, we’ve seen the market crash during COVID, high inflation and interest rates, and bonds falling sharply alongside equities in 2022. It’s no surprise that some people have chosen to stay on the sidelines when it comes to investing. They’ve chosen to remain conservative and keep their money in cash or very safe investments like savings accounts and CDs. But should you be concerned about being invested in today’s environment? We’re excited to be joined by Chartered Financial Analyst Matt Heimann, Director of Asset Management at CreativeOne Wealth to get his insight on the market and economy. With experience with the Federal Reserve and as a Chief Investment Officer, Matt provides his valuable perspective on building portfolio and navigating a volatile market. Here’s some of what we cover in this episode: How the Federal Reserve uses interest rates to combat inflation and unemployment. Which will way interest rates move in the near future? The two risks we should be focused on today. What strategies you can use to offset the fear of a possible recession? Connect with Matt: https://www.linkedin.com/in/mattheimanncfa Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700.…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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Retirement Planning Is Harder Than It Used To Be 33:23

1 year тому33:23

33:23

Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning. Let’s talk about why on today’s episode. Here’s some of what we cover in this episode: In past generations, it was common to work for the same company for most, if not all, of one's career. With the prevalence of pensions and other employer-sponsored retirement plans, there was less pressure on individuals to save independently for retirement. The modern landscape of complex financial products did not exist, making investment decisions simpler for retirees. In recent times, retirees face escalating healthcare costs, which can consume a significant portion of their retirement savings. With an aging population, there are fewer workers supporting more retirees, putting strain on the Social Security system, and potentially affecting future payouts. Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700.…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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How One Overlooked Issue Can Sink Your Retirement 32:32

1 year тому32:32

32:32

Imagine your retirement plan as a ship sailing toward a horizon of rest and relaxation. But what if one leak could sink it all? In today’s episode, we spotlight some of the single oversights that could send your dreams to the bottom. We'll share key strategies to plug the gaps, ensuring your financial ship stays buoyant and on course. Tune in to protect your future from the one mistake that could derail everything. Also, stay tuned until the end to see the debut of Riverbank Riches, a segment where Desmond will respond to a viral financial clip to add perspective and insight you won’t find on social media. Here’s some of what we cover in this episode: Longevity risk and how life expectancy factors into retirement planning. Investment strategies to keep pace with, or beat, inflation. The importance of considering long-term care costs in retirement planning. The potential impact of market volatility on retirement savings The impact of potential tax increases on retirement income. Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700.…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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With Higher Interest Rates, Is “Lazy Money” Still A Concern In 2024? 19:00

1 year тому19:00

19:00

Is 'Lazy Money' still a concern in 2024's higher interest rate landscape? In this episode, we explore this question, examining how the recent rise in interest rates affects the money sitting in savings accounts, CDs, and conservative investments. We'll discuss the new dynamics of managing your funds in a world where traditional saving methods are seeing better returns. Are these options now a viable part of a savvy investment strategy, or are there still better ways to make your money work harder for you? Here’s some of what we cover in this episode: What would we consider ‘lazy money’? Why taking advantage of the rates now is a good thing but it still might not keep pace with inflation. The most common reasons why people keep too many conservative investments. How we help our clients through our advisory services when it comes to investing. Contact Desmond: Visit https://www.clcfinancial.com/ or call 910-323-5700.…

Riverbank Riches with Desmond Taylor: Navigating Financial Wisdom

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Crafting a Successful Financial Snowman 18:13

1 year тому18:13