In this episode, Nancy shares some of the things she has learned throughout her 30 years of working in the field of retirement planning. As she heads into retirement herself, she reflects on her experiences with clients throughout the years and shares her major tips and takeaways for your retirement journey.

 

In this farewell episode, Nancy discusses the power of beginning your financial planning journey with the end in mind and envisioning retirement at a young age. She cautions against sacrificing important aspects of life for early retirement and highlights the need for a balanced approach, while still taking your finances seriously. Join us for an enlightening episode, as Nancy shares her thoughts on aligning your spending with your values and the need for effort, planning, and evaluation throughout your planning journey.

 

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

 

• Beginning your retirement saving journey with the end in mind. (1:05)
• Each chapter of life is valuable. (5:19)
• The importance of understanding how to use your money. (7:59)
• “If you don’t get serious about your money, you’ll never have serious money.” (11:50)
• Find the leakage in your finances. (13:11)

 

Contact The Office 480-632-8770   Schedule A Visit https://bit.ly/3V4xihj   For more, visit us online https://www.flemingfinancialservices.com/

Today, we're diving into a topic that affects everyone, regardless of age or financial status: how age and wisdom impact financial planning. No matter where you are in life, your financial goals and priorities will change over time, and it's important to have a plan that reflects your unique needs. In this episode, we'll explore the ways in which age and wisdom impact financial planning strategies and provide practical tips and insights to help you make informed decisions about your finances.

Join us for a thought-provoking discussion with Nancy as she explores how our financial goals evolve over time and emphasizes the value of integrating personal experiences into financial planning. She’ll discuss the impact of working with a seasoned financial advisor who has extensive experience working with a diverse set of clients and can help navigate whatever changes life throws your way. Tune in as we dive into the significance of maintaining emotional awareness and decision-making mindfulness throughout your financial planning journey and more.

 

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

 

• Nancy reflects on her latest trip to California. (1:25)
• Why does age matter in financial planning? (4:46)
• Studies show that as we age, more decisions are made on feelings and intuition. (7:21)
• The importance of incorporating life experiences and lessons into financial planning. (10:09)
• How the aging process changes people’s perceptions about money. (12:35)

  Contact The Office 480-632-8770   Schedule A Visit https://bit.ly/3V4xihj   For more, visit us online https://www.flemingfinancialservices.com/

 

 

 

 

Are you finding it hard to transition into retirement after living frugally and saving diligently for many years? In today's episode, Nancy shares the story of a couple who struggled with the idea of spending their hard-earned savings on experiences after they retired. In today’s episode, Nancy will introduce the concept of a "memory bank" and explain how it can help retirees shift their mindset around retirement spending. 

 

Join us as we explore the importance of sacrificing in the present so that you can prioritize the things you value in retirement. Nancy will also guide you through the process of finding your values in retirement and show you how the “memory bank” concept can be used as a guide to spending your retirement funds on the experiences that matter most to you.

 

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

 

• A conversation about frugality and delayed gratification. (3:49)
• Having a hard time spending money in retirement after living frugally. (6:31)
• Transferring money from your financial bank to your memory bank. (8:17)
• How will you make your memory bank full? (12:17)
• Deciding what your values are in retirement. (14:53)
• The importance of setting money aside for your memory bank. (16:28)

 

Contact The Office 480-632-8770   Schedule A Visit https://bit.ly/3V4xihj   For more, visit us online https://www.flemingfinancialservices.com/

 

 

 

 

If you were given an inheritance, would you go ahead and spend it or find the best way to preserve it and make it last over a larger duration? We’ve found that there are two main types of money managers: those who choose to hold onto the money they have and others that are eager to spend it. These same principles apply to decisions about when to start taking Social Security.

 

Although the government incentivizes people to wait longer before claiming their benefits, many Americans still tap into Social Security as soon as they’re eligible. In fact, a recent study showed that most Americans are claiming Social Security at the wrong time, potentially losing out of tens of thousands of dollars.

 

So, when should you take Social Security? What are some best practices for doing so? This is a loaded question with many factors to consider. Join us as we discuss this topic and why it’s important to think about your life expectancy, health, and overall income picture before making the decision to take Social Security. 

 

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

 

• Most Americans are claiming their Social Security benefits at the wrong time. (1:39)
• Health is a big factor to consider when it comes to taking Social Security. (5:37)
• Only 4% of retirees wait until 70 to claim Social Security. (9:39)
• What are some best practices for claiming Social Security? (10:39)

 

Contact The Office 480-632-8770   Schedule A Visit https://bit.ly/3V4xihj   For more, visit us online https://www.flemingfinancialservices.com/

 

 

 

 

Typically, the things we desire most in life are also the most challenging and demanding, but they ultimately bring us the greatest satisfaction and yield the best outcomes. Just like gardening, well-planned financial plans require time and patience to succeed. In today’s episode, we explore the parallels between gardening and financial planning and the lessons we can learn from them.

 

While investing all your money into a single account may seem convenient, it is likely not the best approach for long-term success. Join us as we explain why it’s worth spending the time and effort to develop a diverse portfolio. We’ll also discuss the importance of staying vigilant and using the right tools to achieve your financial goals.

 

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

 

• The importance of diversifying your investment portfolio and the potential risks of relying solely on one type of investment tool for income. (2:13)
• Much like gardening, well-planned retirement strategies take time and patience to grow and produce rewards. (4:34)
• The “weeds” and “pests” of the financial world to look out for. (6:33)
• Using the right tools for your objectives. (10:28)

 

Contact The Office

480-632-8770

Schedule A Visit

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Recent surveys have shown that Americans are feeling more financially stressed due to inflation, economic instability, and lack of savings. People are unsure about creating a budget, where to invest their money, and how to save for retirement. Some worry that their savings won't last and that they will have to rely on credit cards and debt. In today’s episode, we’re going to discuss some of these prominent stressors and the importance of taking action with your retirement plan in the midst of uncertainty.

 

Over the course of this episode, we'll explore a wide range of topics. We'll analyze the latest inflation rates, dissect some subcategories in the CPI report, review recent studies on financial stress in America, and address the concerns about the U.S. potentially losing its reserve currency status to China. Ultimately, Nancy will discuss why it’s more important than ever to pay attention to your financial decisions in today’s economy.

 

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

 

• What surveys are showing about financial stress in America. (1:45)
• Inflation rates slowed down in March. (3:19)
• Reviewing some subcategories in the CPI report. (6:03)
• The importance of sticking to your retirement plan even with these current pressures.  (9:59)
• The fear that the U.S. will lose its reserve currency status to China. (12:13)

 

Contact The Office

480-632-8770

Schedule A Visit

https://bit.ly/3V4xihj

 For more, visit us online

https://www.flemingfinancialservices.com/

Have you ever wondered why you handle money the way you do? It turns out your financial behaviors can be traced back to your formative memories. In this episode, we explore how historic market crashes have left a lasting impact on our relationship with money.

From the Great Depression to the sudden COVID-19 market crash in 2020, we’re taking a journey through time to examine some of America’s most notable financial crises. By contrasting earlier events with more recent downturns, we gain a deeper understanding of how they may have influenced our financial perspectives and decision-making.

Join us for a fascinating exploration of financial psychology, as we reflect on the lessons of history and their relevance to today's economic landscape. Don't miss out on this thought-provoking episode!

 

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

 

• The lasting impact of the Great Depression. (3:00)
• The banking world took the forefront in the late 70s and early 80s because of high-interest rates. (6:12)
• How the Dot-Com crash of 2000 changed the way people thought about investing in the stock market. (9:03)
• The impact of the sudden COVID-19 market crash in 2020. (11:19)
• These historical market crashes have impacted generations differently.  (15:19)

 

Contact The Office 480-632-8770   Schedule A Visit https://bit.ly/3V4xihj   For more, visit us online https://www.flemingfinancialservices.com/

 

 

 

 

Today we are following up on last week’s episode to talk a little more about taxes. Filing your taxes can feel overwhelming, and when you’re near or in retirement, there are some additional factors to consider. In today’s episode, we will answer some questions we received about filing taxes in retirement and provide you with more helpful tips to maximize your earnings.

 

We’ll cover a range of topics such as Roth conversion strategies, ways to save money on taxes when working a job on the side, and changing tax brackets. We’ll also take a moment to reflect on happy moments in life and talk about enjoying retirement throughout the financial planning process. Stay tuned for some helpful insight and real-life examples on how to best navigate taxes in retirement. 

 

Here’s some of what you’ll learn in this episode:

 

• Reflecting on happy moments in life and enjoying our time in retirement. (1:53)
• Is it a bad idea to do a Roth conversion if I have a high income? (3:38)
• Some ways to save money on taxes when earning extra income with a side job. (9:14)
• Should I be making estimated payments on taxes every quarter if I change tax brackets? (11:39)
• Helping family members navigate finances after the loss of a spouse. (17:51)

 

Contact The Office 480-632-8770   Schedule A Visit https://bit.ly/3V4xihj   For more, visit us online https://www.flemingfinancialservices.com/

 

 

 

 

With Tax Day right around the corner, we wanted to record a timely episode to answer your tax questions for 2023. In fact, tax filing season might look a little different this year than it has in years past. In today’s episode, we’re going to cover some common tax pitfalls and how to avoid them.

 

We’ll dive into some interesting statistics on tax filing in the U.S. and talk about some recent bills and rule changes that you need to be aware of before filing this year. Should you hire a professional accountant to file your taxes? What happens if you push off filing your return? We’ll answer all these questions and more. Join Nancy for this informative episode so you can make the most of filing your taxes this season.

 

Here’s some of what you’ll learn in this episode: 

 

• We might see smaller refunds and jolting capital gains tax this year.  (0:57)
• Some interesting statistics on tax cheating. (3:38)
• The tax change bill in 2018 that made it more difficult to itemize charitable donations. (5:32)
• Should you hire a professional accountant to file your taxes? What statistics are showing about filing taxes through software programs. (8:33)
• The consequence of putting off filing your return. (12:15)
• The new rules for taking money out of inherited IRAs. (18:00)

 

Contact The Office

480-632-8770

Schedule A Visit

https://bit.ly/3V4xihj

For more, visit us online

https://www.flemingfinancialservices.com/

Do you ever feel like your retirement planning goals are always moving? You're not alone. We’ve found that people often move the goalposts in their own retirement planning, often to their detriment. In this episode, we're diving deep into the psychology of retirement planning and the dangers of moving the goalposts.

As life throws its ups and downs, it can be tempting to put off investing in our retirement while we deal with immediate needs. It might also be tempting to delay investing until you have accumulated a certain amount of money in your savings account. No matter what reason you might have for moving your goalpost, sticking to a financial plan is important so that you can retire when you’re ready.

In today’s episode, we’ll tackle questions such as “Should I push my retirement date back if I don’t have the details figure out?” and “How conservative do I need to be five years from retirement?” Join us as we dive into the complexities of retirement planning and offer insight to help you stay on track with your financial goals. 

 

 Here’s some of what we'll dicuss in this episode:

• Should I push my retirement date back if I don’t have the details figured out? (2:40)
• While having an emergency fund is important, it can be tempting to hold onto excess cash as a safety net instead of utilizing it to your advantage. (6:46)
• Prioritizing retirement savings so that you are prepared for unexpected circumstances and can maintain a flexible retirement timeline. (9:42)
• How conservative do I need to be five years from retirement? (11:29)
• It is important to have a contingent, flexible retirement plan that prepares you for unexpected circumstances. (16:57)

 

Contact The Office 480-632-8770   Schedule A Visit https://bit.ly/3V4xihj   For more, visit us online https://www.flemingfinancialservices.com/

 

 

 

 

No matter how much you plan or how well you prepare, life can sometimes stand in the way. You never know what the future has in store, and plans can change at a moment’s notice, leaving us with life’s other retirement plan.

 

In this episode, Nancy will share some of the conversations she’s had recently with new retirees who have faced difficult and unexpected life changes. It’s never easy, but that’s where an advisor can come in and provide support and guidance. In these examples, we’ll talk about Social Security and spousal benefits. 

 

As we age, it can be difficult to come to terms with how we feel versus how we might be perceived, and we want to share a recent post on social media that really connected with us.

 

Here’s some of what you’ll learn in this episode: 

• Unexpected things that happen in retirement can change our entire plan. (1:47)
• Accessing your spouse’s Social Security benefits. (7:11)
• How the spousal benefits work. (10:15)
• Keeping the right perspective as we age. (16:22)

 

Contact The Office 480-632-8770   Schedule A Visit https://bit.ly/3V4xihj   For more, visit us online https://www.flemingfinancialservices.com/