One of the most tempting but dangerous things investors (and investment advisors) do is to change investment strategies in light of what current markets are doing. Don’t misunderstand, it’s always wise to make adjustments when needed, but not to your overall strategy or plan. You put together that strategy to accomplish certain goals within certain time frames, and over the long haul, it should accomplish your goals given the expected amount of time. When you change your investment strategy because of the markets, you’re changing horses midstream, and you could wind up in deep water! Roger’s got some great advice about how to stick to your plan, even though the current market situation seems shaky, on this episode of The Retirement Answer Man.
Do you know what a STRETCH IRA is, and how it can benefit you and your loved ones?
When making investments for retirement, one of the oft overlooked issues has to do with what happens to the investment should you pass away. If you neglect to designate a beneficiary of your IRA for example, the money will simply pass into your estate upon your passing and will be taxed almost immediately. That’s not a very good use of the money you worked hard to earn and save, is it? A Stretch IRA enables you to designate beneficiaries and actually S-T-R-E-T-C-H the tax benefits of that investment beyond your lifetime, into the expected lifetime of your beneficiary. Find out how this works on this episode.
Do you know how to choose an investment advisor wisely?
That issue alone could make or break your retirement investment strategy. You’ve got to know that the person advising you on your retirement is not only experienced but the right fit for you and the goals you have. What should you ask a potential investment advisor to see if there’s a good fit? Do you know? In this episode of the Retirement Answer Man, Roger spends a good deal of time discussing what you should look for in a good retirement investor and how you can ask the right kind of questions to discover if that advisor is the one for you. Listen in to hear Roger’s hard-learned advice.
How should a small company go about setting up retirement plans for employees?
There are many options out there, and sometimes the administrative costs make it very difficult to set up a plan that is generous to employees but also affordable for the business owner. In today’s episode Roger fields a “live” question from his friend Mark about how to assess the various retirement plan options, how to educate employees on the options without boring them to tears, and how to find the right investment advisor to guide the company and the employees through the process of setting up what is best for each individual. It’s a valuable conversation about retirement plans and small business. Listen in to hear the entire chat.
Did you know that Roger would love to answer your questions about retirement?
That’s what the Retirement Answer Man podcast is all about. You can ask your specific, personal question and Roger could answer your question on the air. It’s as easy as clicking a button and talking. Go to http://www.rogerwhitney.com/retirementanswers/ to record your question and Roger may address the issues you raise on the next episode. Where else can you get free, experienced, trusted advice on something as vital to your future as retirement planning? Don’t wait. Ask your question now!
Free Resources to help you do your retirement planning wisely.
Roger is an investment advisor. That means he makes his living advising people about how to wisely make investments for their future. But beneath that is a deeper motive to help people. One way that Roger is doing that is by creating his “Retirement Learning Center.” It’s a free resource on his website (www.RogerWhitney.com) where you can find all kinds of resources – from how to interview a possible financial planning partner (discussed on this episode) to caring for Elderly parents, to wise estate planning. You’ll be amazed at the valuable resources Roger has packed into the learning center, so make sure you get over there to check it out!
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
- [0:32] Roger’s welcome
- [1:00] Roger’s daughter turned 18 years old – got a tattoo – and why it matters!
- [3:06] Thanks to some iTunes reviewers!
- [4:24] Constructive feedback from a listener (Rick) and a great resource shared from another listener (Mark).
THE HOT TOPIC SEGMENT
- [6:38] Still talking about the markets!
- [7:00] A conversation Roger had and what he realized from it about asset allocation.
- [9:40] The temptation to change or alter your investing strategy during down times in the market.
PRACTICAL PLANNING TIP SEGMENT
- [13:00] What is a STRETCH IRA?
- [15:00] The tax benefits of setting up a Stretch IRA correctly.
- [16:27] Advanced strategies for IRAs.
- [17:23] The Retirement Learning Center resource concerning these IRA options – text the word “planning” to “33444.”
TODAY’S LISTENER QUESTIONS
- [17:52] An email from Elliot: 3 questions about recording income in a consulting business, setting up lifestyle expenses, and dividends from retirement accounts!
- [22:50] A question from Mark: How should I set up a small business retirement plan for my employees?
RESOURCES MENTIONED IN THIS EPISODE
The Retirement Planning Center – Text “Planning” to “33444.”
“How To Find a Financial Advisor” worksheet
Mark Menard’s “Elevating Beyond” podcast