Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®

Ep 42: This Is Not 2008

We're in a crisis ... different from 2008. The pandemic and prudent, social-distancing response is causing fear, uncertainty, and now panic in financial markets.
Listen to Kevin explain the current state of the markets and how this crisis is currently materially different from 2008. Be sure to pay attention to why -- from a financial perspective -- our country is better positioned to navigate through these troubled times by dusting off 2008's playbook, and what you need to do to keep your plan on track.
Have questions? Need help making sure your investments and retirement plan are on track? Use this link to schedule a free 15-minute call with one of our Certified Financial PlannerTM Professionals ---> http://bit.ly/calltruewealth
 
Get show notes and additional resources here: https://www.truewealthdesign.com/podcast/ 
 
Timestamps:
0:57 - Update: The Podcast Is Moving To Weekly Installments
3:41 - How Kevin & His Team Have Adapted To The Situation
8:21 - Where We Stand Now
21:20 - How The Bond Market Has Been Affected
34:11 - Keeping A Level Head With All Of The Changes

Ep 41: Coronavirus & Your Investment Strategy Part 2

Timing the market sounds great, especially during times of market distress like that caused by Cornovirus (COVID-19) concerns. Who wouldn't want to participate only in the ups while avoiding the downs!? Sadly, the only way market timing will work is for you to get lucky, which is no way to invest your life savings.
Listen to Kevin describe the theoretical reasoning about why market timing does work and investigate both the academic research as well as the actual record of mutual funds that follow timing strategies. It's interesting to see how the research has been verified in practice by these funds.
Instead of falling victim to the allure of market timing, Kevin describes the current situation and prudent, processed-based response to help you tune out the noise and stay on track.
Episode 27 Investing Process: https://retiresmarter.podbean.com/e/your-investing-process-part-1/
Timestamps:
3:15 - Cluster Effect
7:58 - Different Types Of Asset Allocations
14:00 - Why Staying In The Market Long Term Is So Important Instead Of Market Timing
21:56 - Mutual Fund Evidence
25:52 - Things Are Bad Right Now, But Market Timing Isn’t The Answer

Ep 40: Coronavirus & Your Investment Strategy Part 1

Shocks like the Coronavirus (COVID-19) or Russia's assault on oil prices can't be predicted. Yet, your financial life plan must be able to weather shocks and your investment strategy respond appropriately.Investors are not only concerned about their health but are questioning what to do about their money. Listen to Kevin describe the current situation and prudent, processed-based response to help you tune out the noise and stay on track.
Timestamps:
2:45 - Kevin looks to put the past week of volatility into perspective.
8:54 - A lot of people have been reaching out recently to address their financial picture.
14:47 - Kevin is still making 401(k) contributions personally, despite the down market.
16:35 - All we tend to hear on the news is negativity.
21:25 - A look back at the health of the economy before the Coronavirus impact and what that tells us about when we get through this crisis.
Useful Info:
True Wealth Design Website: http://www.truewealthdesign.com/
Call: 855-TWD-PLAN or 855-893-7526

Ep 39: IRA Owners: 3 Key Changes By The SECURE Act

Congress has agreed on something! Your retirement accounts are not estate planning vehicles. (Sigh.) Provisions in the SECURE Act are now law as of 2020 and impact all IRA owners.
Listen to Kevin simplify the laws and unpack the 3 key changes. The good news is that if you're doing proper planning, you are likely less at risk than conventional media headlines and other financial advisors are reporting.
And be sure to pay listen at the end, when Kevin describes what premortem and postmortem strategies could help you and your family keep more of your hard-earned money.
Useful Info:
True Wealth Design Website: http://www.truewealthdesign.com/
Call: 855-TWD-PLAN or 855-893-7526

Ep 38: Pension Lump Sum or Monthly Payment?

Pension lump sums are higher in 2020 than 2019. But which should you prefer? Listen to Kevin discuss how to financially evaluate the decision as well as what research shows retirees prefer.Whether you have a pension from your company or not, you'll benefit from this episode. Why? Anyone can invest money with an insurance company and receive a lifetime income in the form of annuity payments. So these considerations are universal in crafting your retirement plan.Company pension plans specifically discussed include Akron Children's Hospital, FirstEnergy, Goodyear, Mercy Health, and Rockwell Automation.
Useful Info:
True Wealth Design Website: http://www.truewealthdesign.com/
Call: 855-TWD-PLAN or 855-893-7526

Ep 37: The Story of Sue

Sue is a recent widow and has gone through significant life and money transitions. Listen to Sue's unique story and learn why her financial concerns are likely the same as yours. And be sure to listen to why Sue refused to shake hands at the end of our initial meeting and what she did instead.
Useful Info:
True Wealth Design Website: http://www.truewealthdesign.com/
Call: 855-TWD-PLAN or 855-893-7526

Ep 36: Snowbirds: Documenting Ohio Nonresidency

Avoiding Ohio income tax is key for many snowbirds. The old adage of just having to be out of Ohio for 6 months never was correct. Listen to Kevin explain the key steps in documenting your Ohio nonresidency.
Useful Info:
Request The Ohioan's Guide To Snowbirding In Florida: https://www.truewealthdesign.com/contact/
True Wealth Design Website: http://www.truewealthdesign.com/
Call: 855-TWD-PLAN or 855-893-7526

Ep 35: Snowbirds: 4 Financial Tips

It's that time of year again. The northern states are filled with grey skies and cold, wind, and snow. If you're thinking of heading south for the winter, here are four key considerations to making your snowbird experience a success.
Useful Info:
10 Best Retirement Cities Episode: https://retiresmarter.podbean.com/e/top-10-best-retirement-cities/
Request The Ohioan's Guide To Snowbirding In Florida: https://www.truewealthdesign.com/contact/
True Wealth Design Website: http://www.truewealthdesign.com/
Call: 855-TWD-PLAN or 855-893-7526

Ep 34: Case Study: Tax-Smart Distribution Planning

Things in life and planning aren't necessarily cut and dry. You may take several paths to reach your destination. But which one may be best? Listen to Kevin discuss a retirement situation where several strategic paths existing and how he and his team came to the preferred path in creating an integrated, tax-smart distribution plan.
Useful Info:
True Wealth Design Website: http://www.truewealthdesign.com/
Call: 855-TWD-PLAN or 855-893-7526

Ep 33: Tax-Planning Framework

It's common to see articles or to-do lists for year-end tax planning. But these often lack substance and fail to answer why a strategy may or may not make sense for you. Listen to Kevin describe a simplified framework to understand your tax situation and then how to thoughtfully consider what tax-smart strategies make sense for you.
Useful Info:
Randall Munroe's "What If" Book: https://www.amazon.com/What-Scientific-Hypothetical-Questions-International/dp/0544456866
True Wealth Design Website: http://www.truewealthdesign.com/
Call: 855-TWD-PLAN or 855-893-7526