We welcome Kevin Kroskey, CFP®, MBA, back in action, joining Tyler Emrick, CFA, CFP®, on this potpourri-type episode.

Hear Kevin's perspective on the last episode, coming changes in the residential real estate market, and why they will be good for consumers. He'll also share some lessons learned from this tax season and differences between tax-only clients and clients who receive coordinated tax and wealth management services.

Hear Tyler share recent client stories from new clients about the issues and ramifications of not coordinating financial, legal, and tax matters properly.

And be sure to listen at the end when they discuss the recently released college ranking, called "A First Try at ROI". This study and the resulting calculator look at the cost outlays for 4,500 colleges and the ROI – return on investment – in earnings over time. Is the Ivy league worth the cost (if your child can get in)? What about a pricey private school vs. a public in-state one? And who had a wiser decision-making process for their college selection – Kevin or Tyler.

That and more on this episode of Retire Smarter.

See the rankings here: https://cew.georgetown.edu/cew-reports/collegeroi/

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

Gone are the days of 6% commissions when selling a home!? Well, sort of. In this episode, we unpack the $418 million proposed settlement that will likely reshape the real estate industry. While change creates winners and losers, consumers will generally be winners as the industry wheat will further separate from the chaff.

Hear Tyler Emrick, CFA®, CFP®, reflect on similarities to the financial planning industry's evolution from stock traders to advisors, from selling products to providing advice. The changes have been positive for consumers, and there's still plenty of chaff to remove. To help you better identify the chaff, Tyler discusses advisory services that stand out and deliver more value to you for the dollars you pay.

Here’s some of what we discuss in this episode:

• Background on the lawsuit and subsequent agreement for the National Association of Realtors (NAR).
• The argument being made against real estate agents.
• How this compares to past legislation in the financial planning industry.
• The details of the agreement and how it might change fees and services.
• The similarities to the financial planning industry and why there’s been a move towards a holistic approach.

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 it comes to finances, paying a big bill at tax time is the worst. Worse yet, is if that bill comes as a surprise because your CPA, Investment Professional, and Financial Planner were not on the same page.

In this episode, Tyler Emrick, CFA®, CFP®, sheds light on traditional culprits that cause nasty surprises at tax time. Whether it is capital gain distributions, higher interest rates, or under-withholding on your income we cover it all on today’s episode of Retire Smarter.

Here’s some of what we discuss in this episode:

• Interest rates have increased ordinary income and what most Americans are used to being taxed on.
• Investment considerations to factor in that will impact taxes.
• Stats on capital gain distributions and better investment options for tax purposes.
• Sometimes you are under-withholding taxes on your income so what should you change?

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

So, what are smarter ways to save or gift to your family? In this episode listen to Tyler Emrick, CFA®, CFP® discuss how to gift wisely, be supportive of and not inhibit responsible financial behaviors, utilize intra-family loans, and optimize benefits for your family today and into the future.

Here’s some of what we discuss in this episode:

• What the statistics tell us about how closely tied parents and young adult children are emotionally and financially these days.
• Some smart ways to gift to your children and grandchildren.
• Best practices for opening and saving into a 529 account and the mistakes you need to avoid.
• Why you might choose to use a custodial account or Roth account instead of a 529 plan.

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

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

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

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

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

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

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

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