Stay Wealthy San Diego

Today I'm sharing a story about a couple who lost $2 million to an investment scam. I'm also sharing (new!) resources to help protect your personal data in 2024. Financial scams are getting more sophisticated and losses are skyrocketing. In fact, last year, Americans lost $10 billion to financial scams. That’s $1 billion more than 2022, and is the highest-ever reported annual loss in FTC history. Everyone is at risk. And everyone needs to regularly take proactive steps to stay safe. Tune in to learn more. *** FREE RETIREMENT PLANNING RESOURCES: Subscribe to the Stay Wealthy Retirement Newsletter! As a thank you, you'll receive three (3) of my MOST popular retirement & tax cheatsheets.  You'll also receive my weekly retirement newsletter :) 

There is no shortage of questions when it comes to navigating and planning for retirement. ➤ How much do I need to save?  ➤ How do I optimize my tax bill and avoid overpaying the IRS?  ➤ When do I take Social Security?  ➤ What should I invest in? (And what should I avoid?!) The list goes on. And while you’ve likely read (or heard) helpful answers to most of the big questions, it never hurts to revisit them or get a different perspective. In fact, some studies suggest that it can take hearing something 7 times before you retain it

Inflation hit a 40-year high of 9.1% in June 2022. Today, inflation is hovering around 3%. If inflation is back in line with long-term historical averages, why does everything still feel so expensive? When voters were asked what they would most like to see improved in our economy... ...why did 64% of them say "lower prices?"  In this episode, I'm digging into the current state of inflation, why prices still feel high, and where inflation might be headed. I'm also sharing tactics for how to successfully navigate challenging time periods. If, like most retirement savers, things still feel outrageously expensive to you, you're going to enjoy this episode.  *** RETIREMENT & TAX PLANNING TOOLS: Join 5,000+ listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive three (3) of my MOST popular retirement & tax cheatsheets.  You'll also receive my weekly retirement newsletter :) 

Want an easy way to learn how the "Roth 5-Year Rule" affects your unique situation?  Subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive my one-page flowchart (PDF) for navigating this confusing rule.

Today I'm talking through four (rarely-discussed) retirement planning misconceptions. In fact, some of these misconceptions might not be misconceptions at all... ...they might be concepts that you've never even considered! For example, is retirement planning a complex problem OR a complicated problem? (And why does it matter?)  And, should you develop a retirement plan from the outside in OR the inside out? To help answer these important questions, I'm joined by Roger Whitney, host of the Retirement Answer Man podcast.  Along with being a great person and expert retirement planner, Roger is also a deep, critical thinker who will definitely get your wheels turning in this episode. WANT MORE RETIREMENT PLANNING TIPS? Join 5,000+ listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2024 Tax Planning Cheatsheet.

It's an election year. As a result, many retirement investors believe that the market MUST be in for a wild ride. But is that true?  Over the last 100 years, how have markets behaved during election years? What have been the best and worst returns?  How has the market performed during every 4-year presidential term since 1929? And is it "different this time?"  To help retirement savers invest wisely during this period of heightened uncertainty, I'm answering these questions (and more). --- WANT THE CHARTS & DATA REFERENCED IN TODAY'S EPISODE? Join the Stay Wealthy Newsletter by clicking here. I'll be sending the 12-page PDF to all newsletter readers this week and next

The U.S. national debt recently crossed $34 trillion. Without causing some serious pain, paying off this debt is nearly impossible to do. We would have to dramatically cut spending in some VERY important areas, increase taxes, or both. This debacle has led many to label this situation as catastrophic... ...as a "building that we’re stuck in that will need to collapse on us before we can leave." But is it really as bad as some make it out to be? Is $34 trillion of debt truly an issue?  Should we really be focused on paying down (or paying off) this debt?  To help answer these questions and shed light on this complex topic, I'm joined today by Cullen Roche, monetary economic expert and CIO of Discipline Funds. ----- WANT MORE RETIREMENT PLANNING TIPS? Join 5,000+ listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2024 Tax Planning Cheatsheet.

With over 300,000 in the U.S., finding a financial advisor is easy. On the other hand, properly evaluating an advisor AND choosing the right expert to help with your unique needs is a challenging task. To help, I'm providing an actionable framework for evaluating financial advisors in this episode. I'm also sharing 3 critical things everyone should consider before entering into a new advisory relationship. It doesn’t matter if you are looking for short-term help or a long-term relationship...if you're considering a financial advisor this year, you'll enjoy this episode. WANT MORE RETIREMENT PLANNING TIPS? Join 5,000+ listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2024 Tax Planning Cheatsheet.

Today I'm talking about stock market predictions. Specifically, I'm sharing: ‣ What happened in the markets in 2023 ‣ What may lie ahead for us in 2024 ‣ Why we should prepare for the biggest crash of our lifetime I'm also sharing an exciting announcement that will directly benefit you!

Today I’m sharing 4 (important!) retirement and tax planning updates for 2024. I'm also sharing my freshly updated two-page tax cheatsheet

Year-end is a popular time for tax planning strategies. Roth conversions. Charitable gifts. Squeezing in those final tax-deductible contributions. And, of course, the crowd favorite...good ol’ tax-loss harvesting! ‣ Who should consider tax-loss harvesting (and who should stay away from it)? ‣ How can you increase the benefit of tax-loss harvesting? ‣ When can harvesting losses backfire? If you're a retirement saver wanting to learn more about this popular tax strategy, you'll love today's episode.  *** ✏️  Grab the Episode Show Notes

Navigating the Medicare world is confusing and challenging.  As a result, many retirees make Medicare decisions without clearly understanding the long-term implications. Long-term implications that, in worst-case scenarios, can put a retirement plan in jeopardy. To help you avoid making costly Medicare mistakes, I'm sharing three (3) big pitfalls to avoid in this episode. If you want to brush up on your Medicare knowledge before turning 65—or you're looking to change your current Medicare plan—you'll love today’s episode. *** NAVIGATING IRMAA (2024 UPDATED) Click here to view the 2024 IRMAA brackets and learn how to avoid this surcharge.  *** WANT MORE RETIREMENT PLANNING TIPS? Join 5,000+ listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

In part two of my series on bonds, I'm tackling three BIG questions: 1.) With cash yielding 5%, does it make sense to use money market funds (or t-bill) as a bond alternative? 2.) What should investors do if they own the wrong bonds and need to make changes? 3.) Does the current landscape shift how retirement investors should approach bonds going forward? If you're ready to dive deep into the research to understand this asset class better, you'll love this episode. ----- WANT MORE RETIREMENT PLANNING TIPS? Join 5,000+ listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Bonds are down 20%+ over the past three years.  Meanwhile, riskier asset classes (like U.S. stocks) are UP ~30% during the same period. ‣ What the %@#! is happening to bonds right now? ‣ Why are safe asset classes down double digits while risky asset classes scream upward? ‣ Should retirement investors consider changes? ‣ Are money market funds and CDs a better solution than bond funds?  ‣ And what might all of this mean for the future of bond investing? I'm answering these questions (and more!) in this 2-part series on bonds. --- WANT MORE RETIREMENT PLANNING TIPS? Join 5,000+ listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Today I'm sharing nine fun facts about the economy, markets, and retirement.  Along with being entertaining, these facts bring important planning topics to the surface. They also help to address and answer common questions. For example: ‣ How correlated is the economy to the stock market? ‣ What are the actual odds of a catastrophic long-term care event? ‣ Should average life expectancy assumptions be used in retirement projections? If you're ready to have some fun learning about the history of the markets and little-known facts about investing, this episode is for you. --- WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Everyone should freeze their credit. But most retirement savers I talk to have not tackled this simple (and free!) task. After commenting briefly about credit freezes in an episode last month, I've received dozens of GREAT questions from listeners. Questions like... ‣ Should minor children freeze their credit even if they don't have a credit score? ‣ After freezing with the "big three" (Equifax, Transunion, Experian), what other agencies should I freeze my credit with? ‣ How will freezing my credit affect my credit score? ...and more! Tune in to get answers to these questions and learn more about this critical financial planning task that continues to be overlooked. --- WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Last June, inflation hit a 40-year high of 9.1%. Since then, it’s been falling month over month, hitting 3.2% in July of this year. The Fed’s aggressive rate hikes seemed to be doing their job, and their 2% inflation target appeared to be in sight. But then, the August CPI report came out a few weeks ago... ...and we saw inflation spike, jumping up to 3.7%. What happened? Where does inflation go from here? And should we be worried about this recent uptick? --- WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Year after year, investors underperform the funds they invest in by almost 2%.

Consumers reported losing nearly $9 billion to fraud in 2022 — a 30% increase from the year prior. And those are just the incidents that are reported. In fact, some reports suggest that the ACTUAL amount is closer to $40 billion! One thing every report seems to agree on is that scams are becoming more prevalent and more sophisticated. So to help protect retirement investors from becoming victims, today I'm sharing the three financial scams to watch out for. I'm also sharing how you can protect yourself (and your loved ones) from each scam. --- WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

In this episode, we're answering listener questions! Specifically, guest host Jeremy Schneider is answering questions like: What are the best index funds to invest in How do you access retirement money early What are the little-known pitfalls of early retirement Jeremy also shares important tips on transferring money from old investment accounts.  If you want to get answers to these great questions (and hear from a surprise guest who snuck their way in!), this episode is for you.  --- WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.