Stay Wealthy San Diego

Are you a working professional? If so, now is the perfect time to make smart moves to lower taxes in retirement. Nearing retirement or already retired? Don't worry, it's not too late to win the game against the I.R.S. Remember, it's very possible to have a higher tax bill in retirement than as a working professional. Where do these taxes come from? Required Minimum Distributions (RMDs) Social Security Pensions Real Estate Income Roth Conversions Interest and Dividends Capital Gains Without the proper planning, you could be in for a rude awakening. Check out this week's podcast episode to learn how you can reduce your tax bill in retirement. I'm breaking it down for you in plain English. Show Notes & Links: www.youstaywealthy.com/38 DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financial, or other professional services.    

Did you know anyone can call themselves a financial advisor? Or a financial planner, a wealth manager, an investment manager… the list goes on and on. Believe it or not, these titles have no legal or regulatory meaning. They’re not evidence of experience or education. They’re just marketing tools. In fact, you could call yourself a wealth manager right now if you wanted! That’s just one reason why finding a trained, experienced, and legitimate financial advisor who works in your best interest at all times and won’t sell you and products is tough. But, I'm here to help! Today, I'm talking about the 10 biggest mistakes to avoid (plus, the questions you need to ask!) before hiring a financial advisor to help with retirement. Show Notes: www.youstaywealthy.com/38 Questions & Feedback: podcast@youstaywealthy.com  DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financi

Decades of hard work and savings can be wiped away with one bad investment decision. Don't believe me? Just ask this guy: "I took out a $75,000 mortgage, put it all in bitcoin (at $19,442) and right now I have $48,639 left!!! WTF!!! DO I SELL OR KEEP HOLDING!?!?!" (Twitter, December 21, 2017) If you have any amount of money invested in stocks and bonds (or a home you are tempted to leverage), you need something to protect you from making catastrophic mistakes. That's where an Investment Policy Statement (IPS) comes in. An IPS: Dictates how your money is going to be invested Prevents your financial advisor from going rogue with your money Protects you from yourself if you manage your own investments Learn more about Investment Policy Statements, what they are, how to create one, and what information should be included in this weeks podcast episode. Thanks for Listening Be sure to subscribe on iTunes, Stitcher, Spotify, Android, or wherever you get your podcasts.  And feel free to drop us a line at podcast@

In this episode, I share: Three super-easy financial planning tips you should tackle before 2018 wraps up. Don't worry, it's not your typical "contribute the maximum to your retirement accounts." A Tweet from Jim O'Shaughnessy that approaches the recent market volatility in a thoughtful and unique way. A BIG THANK you from us and where we are headed next. If you have any more questions, please contact us at podcast@staywealthsandiego.com Thanks for Listening Be sure to subscribe on iTunes, Stitcher, Spotify, Android, or wherever you get your podcasts.  And feel free to drop us a line at podcast@staywealthsandiego.com DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financial, or other professional services.

Did you know? The average cost per year for a 401(k) participant is 2.2% of their account balance, according to SmartAsset.   This number is rapidly declining, but even if you cut it in half, it would still be concerning.  When you leave a company, you have three options for dealing with your 401(k): Leave it at your previous employer Transfer it to your new employer Roll it over to an IRA at a trusted custodian And, given how much you might be paying in fees, I don't recommend neglecting this part of your financial plan. In today's podcast episode, we talk about each of these options and help you decide which is best.  --- If you have any more questions, please contact us at podcast@staywealthsandiego.com Thanks for Listening Be sure to subscribe on iTunes, Stitcher, Spotify, Android, or wherever you get your podcasts.  And feel free to drop us a line at podcast@staywealthsandiego.com Find show notes and more information at http://www.staywealthysandiego.com/35 DISCLAIMER: This podcast is for informatio

Human beings are inherently bad with money. We buy high. Sell low. Spend too much. Save too little. We are greedy when we should be fearful. We are fearful when we should be greedy. On paper, it seems so simple. We know what we are supposed to do, but year after year, generation after generation, we keep making the same mistakes. Why we make simple mistakes with our money is more complicated than you might think. Fortunately, we have Dr. Daniel Crosby on the show today to break down for us, in plain English. Daniel is a New York Times best-selling author, psychologist, and behavioral finance expert. He has a new book out called The Behavioral Investor and today on the podcast we talk about: How society, the body, and the brain interfere with our financial decisions The four primary types of behavioral biases Exactly what we can do about all of this information and research to become better investors If you have any more questions, please contact us at podcast@staywealthsandiego.com Find show notes and more

“Better start planning for college!” – Every financial planner when you tell them you’re having a baby Speaking of having a baby, my second son was born the day this podcast episode was recorded. Please welcome Sutton Cole! He weighed 7 pounds 7 ounces, he’s sleeping like a champ, and he doesn’t have a 529 college saving account.  While planning for college is important, there are three things more important than opening a 529 college savings account when you have a child. Listen to today's show to learn the critical financial planning moves new parents (or parents that haven't started planning) need to make.  If you have any more questions, please contact us at podcast@staywealthsandiego.com Thanks for Listening Be sure to subscribe on iTunes, Stitcher, Spotify, Android, or wherever you get your podcasts.  And feel free to drop us a line at podcast@staywealthsandiego.com Find show notes and more information at http://www.staywealthysandiego.com/33 DISCLAIMER: This podcast is for informational and entertai

Cybersecurity. We know how important it is but don't want to take action.  We don't think anything will happen to us.  If it does happen to us, we assume there must be a way an easy way out. That's not always the case. So, today, I'm going to give you three easy ways you can improve your cybersecurity and stay safe online.  If you follow a few basic steps you can avoid exposing your own information or becoming victim to financial fraud. Links, show notes, and resources: www.youstaywealthy.com/32 DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financial, or other professional services.

The original interview aired on Stacking Benjamins 12-26-2017 As some know, the last several years have been a roller coaster for my family. We poured our life savings into our first home and things didn’t quite go as planned. The good news? It was just money. And it was just a house. It could have been much worse and we reminded ourselves of that every day. That chapter of our life is now behind us and I had the opportunity to laugh and vent about it on one of the top business/finance podcasts last year.  Thanks for Listening Be sure to subscribe on iTunes, Stitcher, Spotify, Android, or wherever you get your podcasts.  And feel free to drop us a line at podcast@staywealthsandiego.com DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financial, or other professional services.

Right now is the perfect time to start thinking about your 2018 tax bill. Not year-end. Not the first week of April just before you meet with your CPA. Right. Now. With some proper planning, you can make some strategic moves that will help you save money on taxes today and in the future. Today, we’re sharing three tax strategies that are often overlooked or unknown to the general public. They include: Donor-Advised Funds Mega Backdoor Roth Asset Location We’ll explain what each of these are, why they can work for virtually anyone, and how to get started.  We also tackle a listener question about when it’s time to start working with a financial advisor. Links, show notes, and resources for this episode: www.youstaywealthy.com/30  DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financial, or other professional services.

Life insurance is wildly misunderstood and often oversold.  In today's episode, we take a deep dive into the world of life insurance to show you how to buy it the right way, saving you money, time, and future headaches.  We discuss: Why we buy life insurance to begin with How to know when you need it What types of life insurance you should consider Where to buy it to make sure you're getting a good deal. Plus, why you might not want to buy life insurance through your employer. As a bonus, we also share some resources for finding insurance money out there that you are entitled to. We also tackle a listener question about 529 college savings plans and the proper way to get one set up for kids and grandkids. Links, show notes, and resources for this episode: www.youstaywealthy.com/29  DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financial, or other professional ser

In today's episode, we review the major reasons you should consider including international stocks in your investment portfolio. (Hint: it's not for a higher rate of return.) In addition, we discuss: How to invest in international stocks What asset classes belong in a portfolio and what asset classes should be removed The proper percentage to allocate to each asset class How to implement this portfolio on your own A look at our portfolios and how we construct them Links, show notes, and resources for this episode: www.youstaywealthy.com/28  DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financial, or other professional services.

Today, we are taking questions from you, the listener. We asked you what keeps you up at night and what's been on your mind and you responded with some fantastic questions. Some of the topics we explore in today's episode include: Saving for retirement after you have maxed out your company plan (i.e. 401k, 457, 403b) Whole life insurance and why it's probably not a good savings tool The power of the HSA (Health Savings Account) Bitcoin and cowboy accounts Buying versus renting a home Show notes: www.youstaywealthy.com/26 

Search "dividend stocks" and Google will return over fifty million results in less than half of a second. Dividend stocks have long been referred to as a solid investment strategy. Not because of their historical performance or tax efficiency but because they tell a good story. Unfortunately, when you really dig down into the numbers and compare dividend investing to the alternatives, the story falls apart. In today’s episode, we’re going to take a deep dive into the world of dividend-paying stocks and what you should be thinking about by exploring: What a dividend is Why people gravitate towards dividend paying stocks 5 reasons most people should avoid dividend paying stocks Alternative ways to create more value and income in your portfolio through Total Return Investing If you want to better understand dividends and learn about the right way to generate income with your portfolio, you’re going to want to listen to all of today’s episode. Show notes: www.youstaywealthy.com/25  DISCLAIMER: This podcast is f

Just about everyone saving for retirement is faced with the option: Traditional or Roth.  It doesn't matter if you are saving for retirement through an Individual Retirement Account (IRA) or a company-sponsored plan like a 401(k) or 403(b). You typically have the ability to choose between these two options. Unfortunately, most people default to choosing the wrong option and they could be missing out on tens of thousands of extra dollars in their retirement accounts. In today's episode, you will learn: Why we put money in retirement accounts to begin with The rules of thumb for choosing a retirement account and why you might not want to follow them Which type of retirement account - Traditional or Roth - is the best option (for most people) The flipside of the argument so you make an informed decision about what is best for you A common misconception about retirement accounts and how to address this One super simple trick for choosing the best investment options in your retirement account If you want to save

Should You Sell Stocks Now? After 9 years of stock market gains, many of you are wondering if now is a good time to sell your stocks. We know this because the blog post we wrote on the topic received a ton of attention. So, today, we are tackling that question. A few things to think about before deciding if now is the time to sell your stocks. How does this fit into your time horizon and long-term financial goals? If you’re investing for a time period of fewer than 10 years, are you taking too much risk by investing in stocks? Will you be able to get the long-term investment returns you need by selling stocks now? This and more in today's episode.  Find show notes and more information at: www.youstaywealthy.com/23   DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financial, or other professional services.  

Jump into a conversation between Shannah Game and Taylor Schulte as they chat about the top five investing taboos that always raise questions, doubt, and insecurities. Shannah interviews Taylor to get his best advice on hot topics such as cryptocurrency investing and market corrections. He shares some simple advice and actionable tips that will help you ease into the investing world and navigate these tricky areas with more ease. Find show notes and more information: www.youstaywealthy.com/22   DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in the rendering legal, financial, or other professional services.  

In case you missed it, market volatility is back.  On January 26th, we saw the stock market go from hitting a record high to being down 10% (a.k.a the definition of a market correction) in nine days. Here's the thing: stock market corrections are normal. They happen about once every year. What's not normal is how quickly this one happened. Find show notes and more information at www.staywealthysandiego.com/19 DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in the rendering legal, financial, or other professional services.

As some know, the last four years have been a roller coaster for my family. We poured our life savings into our first home and things didn’t quite go as planned. The good news? It was just money. And it was just a house. It could have been much worse and we reminded ourselves of that every day. That chapter of our life is now behind us and I had the opportunity to laugh and vent about it on one of the top business/finance podcasts on iTunes this week, Stacking Benjamins with Joe Saul-Sehy.  Find show notes and more information at www.youstaywealthy.com/14  DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in the rendering legal, financial, or other professional services.