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

How Risky of An Investor Are You?

In this episode, Tyler Emrick, CFA®, CFP®, takes a deep dive into the world of risk. Is filling out a simple questionnaire sufficient? How about telling your advisor, "I'm moderately conservative?"  Don't these seem fuzzy at best?
Hear how your perceived risk and diversification may differ – sometimes substantially – from mathematical reality. And be sure to listen in to how Tyler and the team at True Wealth can help you more appropriately find the right risk level, which probably should change over time, to best align your money to achieve your goals. 
 
Here’s some of what we discuss in this episode:
Risk applies to everyone we work with so there are no exceptions when it comes to this topic.
What are the general rules for risk that the industry follows?
The True Wealth Design process for building a plan and determining risk.
How diversification and market conditions are used to construct a portfolio.
What ongoing portfolio management should you be doing to manage risk as you move through life?
 
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth

What Do Clients Value Most in A Financial Advisor?

In this episode, we investigate the pivotal points that clients continually express genuinely matter when seeking financial guidance.
Hear Tyler Emrick, CFA®, CFP®, explore the deeper aspects of working with a Financial Advisor and how they hold significance when choosing and continuing to work with a financial professional.
 
Here’s some of what we discuss in this episode:
How a conversation with his wife sparked the idea for this show for Tyler.
How we get feedback from our clients to help us evaluate our service.
Where does an advisor add specific value to a client?
Tyler will share a few specific things that people want from their advisor.
The many different designations advisors have and a breakdown of which ones you should pay attention to.
How important are returns?
 
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth

How to Plan for RMDs (Required Minimum Distributions)

In this podcast, hear Tyler Emrick, CFA®, CFP®, delve into the often misunderstood world of Required Minimum Distributions (RMDs). Join us as we uncover the essential strategies and tips to help you navigate RMDs and make informed decisions for a secure and fulfilling retirement. Whether you’re new to RMDs or seeking to optimize your distribution strategy, this podcast is your go-to resource for mastering the art of income and distribution planning. 
 
Here’s some of what we discuss in this episode:
An explanation of SECURE Act 2.0 and the legislation that was passed.
A high-level overview of Required Minimum Distributions and how to calculate them.
Highlighting the key changes brought about by the SECURE Act.
What planning opportunities does this present?
 
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth

New Year’s Resolutions – Better Yet Goals for Financial Success In 2024

Each year, about two-thirds of Americans plan on making a financial-related New Year’s resolution for the year ahead, with just over 80% of them bailing on that resolution before January ends.  Don’t bail on your financial resolution! 
Join us on this episode of Retire Smarter as Tyler Emrick, CFA®, CFP®, gives easy and actionable suggestions for what financial goals should be a part of your financial New Year’s resolution to overcome the odds and put yourself in a better financial situation in 2024.
 
Here’s some of what we discuss in this episode:
Personal finances can be overwhelming, which is why so many people make it a priority to start the year.
Start with getting a handle on where your money is going.
Why it’s important to revisit your investment strategy.
Don’t overlook the housekeeping items that sometimes get forgotten.
Identify where you want to go and then build goals that help you achieve that.
 
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth

When Taking Social Security Early Makes Sense

Join us on this eye-opening episode of Retire Smarter as Tyler Emrick, CFA®, CFP® delves into the intriguing world of Social Security benefits. While delaying your benefit is often the obvious choice, we challenge conventional wisdom and explore scenarios where taking Social Security early can actually be a smart financial move. 
 
Here’s some of what we discuss in this episode:
We’ll explore an article listing reasons why you should claim early.
The typical considerations that come into play when picking a strategy for Social Security.
People often retire earlier than they planned because of health issues.
Delaying Social Security can lead to you relying too heavily on your investment portfolio.
The situational circumstances that we often see.
 
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth

Constructing a Portfolio in Retirement

Pick your favorite financial publication. One minute, they tout a financial collapse and pending recession, and then seemingly on a dime, headlines change to - "cash yields are attractive" and "the stock market finishes at its highest level in twelve months." Making portfolio decisions through all the noise can be a challenge. What is the right investment strategy? How much should you put in stocks? Do you need bonds? CDs? What type of stocks or bonds? What about other or "alternative" investments. All are good questions and just touch the tip of the iceberg.
On this episode, hear Tyler Emrick, CFA®, CFP®, dive into these questions and, more broadly, how you should think about asset allocation -- aka your "investment recipe". Pay special attention to how aligning your financial life planning and your goals to your investment decisions is a critical step many misunderstand or overlook. 
 
Here’s some of what we discuss in this episode:
Determining how much you can afford to withdraw in retirement each month.
Should you be favoring cash and bonds over stocks and what are the benefits of each?
How to design the proper portfolio that aligns with your goals.
Having a more dynamic retirement plan and a more dynamic investment plan.
 
Learn more about the Retire Smarter Solution ™: https://www.truewealthdesign.com/ep-45-retire-smarter-solution/
 
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth

8% Safe Withdrawal Rate In Retirement? What!!

Recently, famous radio show host and personal finance guru Dave Ramsey made headlines by saying he’s perfectly comfortable with an 8% withdrawal rate in retirement. Critics were quick to respond, calling his advice scary, dangerous, and just plain wrong. So, who’s right? 
On this episode, hear Tyler Emrick, CFA®, CFP®, break down Ramsey’s comments and how you should be thinking about income and spending in retirement. 
 
Here’s some of what we discuss in this episode:
How Dave Ramsey explains his position on the 8% withdrawal rate.
Why the math might seem simple but is actually wrong.
What you need to know about Geometric and Arithmetic returns.
You can’t ignore the sequence of return risk with a 100% stock portfolio.
Is the 4% rule too depressing?
 
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth

The Early Years of Retirement: Navigating Healthcare, Finances, and Tax Strategies

On this episode, we dive into real-life scenarios to gain insight into crafting a successful and early retirement plan.  Hear Tyler Emrick, CFA®, CFP®, dissect a client's journey of retiring in their late 50s. Exploring the intricacies of their tax-smart distribution plan to fund their retirement lifestyle and obtained significant tax credits to offset their pre-Medicare healthcare costs.
 
Here’s some of what we discuss in this episode:
Background on a real-life scenario with a family we met a few years ago.
What we learned about the challenges to their retirement, including healthcare.
The different healthcare decisions to choose from and the costs most aren’t prepared for.
Places you can trip up with healthcare.
How we approach the distribution planning.
 
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth

Yearend Financial Check-up & Tax Moves

It's that time of year again … the fourth quarter. Before you get enthralled with the holiday season, it's time to look back over this year and towards the next. Have you completed all the financial goals you set this year? Reviewed your medical coverage? Executed your tax planning for the year? Set your preliminary tax strategy and retirement distribution plan for next year? If not, there is still time!
Listen to Tyler Emrick, CFA®, CFP®, discuss how True Wealth Design ensures your important financial tasks get handled so you stay on track and pay no more than your fair share in tax.
 
Here’s some of what we discuss in this episode:
Prioritizing tax planning and determining what items need attention before December 31.
What we discuss during our Yearend Tax and Investment Review meetings.
Looking back on your financial goals at the beginning of the year and comparing that to where you are now.
Why you should be taking a closer look at your benefits for the next year.
Looking at spending for the next year and setting income targets.
 
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth

Retirement Nest Egg: Having Enough & Making Sure It Lasts

The emotions and questions seem to come from everywhere and out of nowhere as you inevitability approach retirement. Even the most prepared will ask, second guess, and then ask again: Do I have enough to retire? How do I ensure it lasts?
 
Leading retirement researcher Moshe Milevsky addressed this in a paper "How Long Will a Nest Egg Last." In this episode, Tyler Emrick, CFA®, CFP®, takes a different approach to try and answer that critical question. Hear Tyler give actionable steps in plain English that you can help build confidence and clarity around your retirement nest egg. 
 
Here’s some of what we discuss in this episode:
Breaking down the equation and identifying areas we agree and disagree.  
How many years can you make withdrawals before running out of money?
What are the variables you know and don’t know and how do you account for both?
The importance of a diversified portfolio when trying to generate a rate of return each year.
Rarely is there a single product or investment that meets your needs for all of retirement.
 
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth