The Investor Coaching Show with Paul Winkler

Financial Wisdom: Making Great Financial Decisions in Your 50s (Part 1)

It’s common for Paul to see people coming into the office, in their early- to mid-fifties, having made some financial mistakes and ready to do something different. Today, Paul and Ira talk about the difference between financial intelligence and financial wisdom and discuss an WSJ article called “The Exact Age You Make Your Best Financial Decisions.” Listen along as these advisors cover the common mistakes that people start to overcome by their 50s and some of the best financial choices people make as they gain financial wisdom.

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

What Is an Estate Plan, and Is it Only for the Wealthy?

Estate planning can seem like a process that is only for those who are very wealthy and have complicated assets to manage. Today, Paul and Ira talk about how average Americans come to build wealth over their lifetime through working, saving, staying motivated, and taking risks. Listen along as these advisors explain why you shouldn’t “check out” when you hear about estate planning. Paul and Ira cover how the things you own get taxed as they pass from one person to another and how an estate plan helps you make a plan to contribute to the future of your family or business.

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Tax Laws Are Changing in 2023 and So Are Financial Plans

Today, Paul and Ira talk about how recent tax law changes around estates, inherited IRAs, and catch-up contributions have changed the landscape of retirement planning and estate planning. Paul wants investors to know that there are more opportunities to get caught in a tax trap as tax laws change and become more complex. Listen along as these two advisors work to educate you on some of the new laws and explain why taxes may become a larger factor in your plan than it was before. Paul also cautions investors who are worried about taxes not to make a decision they’ll later regret when tax laws change again in the future.

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Market Update August 2023: Inflation, Interest Rates, and the Federal Reserve

Today, Paul and Ira give an update on the direction of stock markets over the last few months and encourage investors not to get too caught up in the day-to-day movements. Paul talks about rising interest rates, inflation, and the Federal Reserve chairman’s most recent comments about the economy. Listen along as these two advisors debrief the chairman’s comments and explain why reacting to the comments and predictions of the FED isn’t a recipe for investing success.

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Don’t Mess Up Your Social Security; It Isn’t Going Anywhere

Today, Paul shares an article that discusses the two biggest misconceptions about Social Security. One group of investors believes that they will never receive social security and won’t make a plan for it. Another group believes that they know how Social Security works and plans to navigate the system on their own. Paul shares that both of these groups have made a mistake and may miss out on income in retirement. Paul encourages you to work with an advisor and make a plan for Social Security because it isn’t going anywhere.

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

The Risk of Long-Term Bonds in Your Portfolio

If bonds with longer maturities reward you with higher interest rates, why would you choose to exclude them from a diversified portfolio? Today, Paul expands on a video he made last week, “Why Use Bonds in a Portfolio?” and explains the risk of long-term bonds in your portfolio. Listen along as Paul explains why fixed-income investment like bonds get put in a portfolio and why the promise of higher interest rates and long maturities undermines the reason for owning bonds. Later in the episode, Paul shares an article that he sent to his team this week called “Financial Journalism Fails Its Readers.”

 

To learn more about the problems with indexing and why a structured approach to investing could be better for your financial future, sign up for our webinar here: Are Index Funds Delaying Your Retirement?

People Think They Have Long-Term Care Insurance … But They Don’t

A recent nationwide survey shows that 18% of participants said they had long-term care insurance. After the surveying company explained what long-term care insurance was, that number changed to 3%. Today, Paul and Jim talk about why people might think they have long-term care insurance when they actually don’t. Listen along as these advisors have a great conversation about long-term care facilities, medicare coverage, end-of-life care, and the insurance industry.

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

An Employer Gets Sued Over ESG Investing in a 401(k)

Today, Paul discusses an article about a recent lawsuit against an employer who mismanaged its employees’ retirement accounts. Employers are responsible for making decisions in their employees’ best interest, but oftentimes employers don’t know how to manage the accounts and don’t want to be responsible. Listen along as Paul and Jim talk about how your employer may be making you choose your investments or, even worse, choosing products for you for personal reasons. The result is that your employer spends their time looking out for themselves instead of reaching out for help and choosing products that work for you. Later in the episode, Paul and Jim talk about why investment companies want to sound sophisticated and tout their ability to analyze markets, and why you shouldn’t let any of their “advanced metrics” lead you into market timing.

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

What You Should Know in 2023 About Your IRAs and Taxes

The rules around RMDs and inheriting IRAs have changed in recent years, resulting in some investors taking their RMDs too early and other investors trying to figure out how to remove money from an IRA without paying unnecessary taxes. Unfortunately, the government doesn’t do a good job educating investors or warning them of the risks of these changes. Today, Paul and Jim Wood, CFP®, work to get investors up to speed on the changes and explain the strategies and rules they are using to help investors make smart decisions with their retirement accounts. 

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

College Is Coming — Here’s How to Start Saving for It

Today, Paul invites Michael on the show to help explain the options families have to save for education expenses. Paul explains that saving for college can be a smart idea when making a financial plan because of how expensive it is and the amount of time parents have to start saving for it. Listen along as these advisors explain the most popular accounts they recommend to clients who want to start saving for college and what you need to consider before choosing one. 

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.