The Investor Coaching Show with Paul Winkler

End of Year Financial Planning: Tips and Traps

Today, Paul and Evan talk about a lot of work that goes on around the holidays to help people with end-of-the-year financial planning. Listen along as these advisors provide some helpful tips and some common traps around financial planning to help you relax about money around the holidays. 

 

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

Country’s Economic Outlook Heavily Influenced by Politics

The University of Michigan released the consumer sentiment survey this year with some new included information: political affiliation. This survey, along with others, is used as a factor to forecast the country's overall economic outlook. Conservatives are largely optimistic and Liberals are largely pessimistic. Paul and Evan talk about how politics sneak into our financial systems and why it’s important to not respond to the movements of interest rates and markets because short-term outlooks are based on sentiment.

 

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

Are Your IRA Beneficiaries Up to Date?

Someone asks Paul and Evan a question about IRA beneficiaries and spousal transfers. Can you do a spousal transfer with other primary beneficiaries? What is the difference between a primary and contingent beneficiary? And how are RMDs calculated with multiple beneficiaries? Paul addresses all of these questions and encourages you to make sure that your IRA beneficiaries are up to date.

 

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

Paying for Planning vs. Paying for Products: How To Navigate a Sales Industry

The harsh reality is that the investing industry is a sales-driven industry. Today, Paul and Evan explain how to navigate a sales industry to get what you need and not just line the pockets of investment companies. It really comes down to this idea: It’s always safer to pay for financial planning from someone who knows and understands your goals, your needs, and your full financial situation than it is to pay for products or people who are pushing a specific strategy or investment vehicle. The advisors get into a conversation about Roth conversions and how easy it is for companies or advisors to get stuck offering the same thing to everyone without offering a thoughtful financial plan. 

 

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

Medicare Advantage Plans: Are They Worth It?

Today, Paul talks about Medicare and Medicare Advantage plans. Listen along to hear why Paul is usually steering people away from Medicare Advantage Plans and some new research that explains their disadvantages.

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

Billions of Dollars Flow Into a Flashy Factor-Based Product

This week, Paul did some continuing education as a financial planner and bumped into something that wasn’t at all educational, but a sales pitch for a new mutual fund. It turns out that hundreds of billions of dollars are flowing into a new flashy factor-based investment product and Paul isn’t impressed. Unfortunately, the industry is full of this kind of behavior.

 

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

High on Bitcoin? Trump Seems To Care More About the Dollar Than Crypto

Today, Paul shares a few different segments that highlight a few things about Bitcoin’s current position in a new Trump regime. Paul wants you to know that most economists still see cryptocurrency as a speculative asset. Despite some rhetoric around legitimizing Bitcoin as a currency, Trump seems much more interested in the power of the dollar over the position of Bitcoin. Paul also talks about the complications of trying to purchase things with Bitcoin and the irony of a currency that isn’t supposed to be beholden to a government then starting to be championed by the world’s largest government.

 

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

Sports Gambling vs. Stock-Picking: A Double Standard Hurting American Retirements

Today, Paul talks about a double standard some Americans have with gambling. The reality is that choosing to invest in a single company is just as risky as placing a bet on your favorite sports game over the weekend. Both are driven by industries that work tirelessly to tell you that gambling is harmless. The problem is that investing seems to be something done by the mature and educated and some don’t even see the double standard of turning their nose up at sports gambling and making moves in their portfolio when they think a company is on the rise.

 

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

Talking About Money: Advice From a Financial Therapist

Have you ever found it hard to talk about money with the people closest to you? Well, you are not alone. Studies show that most people have difficulty or avoid talking about money. Paul shares an article from a fellow financial therapist who gives five pieces of advice to help you have financial conversations that could ease pressure on your relationships and help you relax about money. 

 

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 the 4% Rule? Does It Work?

Paul explains why inflation is one of the most important factors to consider when you retire and take an income on your portfolio. Paul dives into the 4% rule and how it factors rising costs into your income. He also helps you understand how much you might need to save to afford your retirement living expenses. Later in the episode, Paul talks about a commonly sold product for retirees, annuities, and how they “guarantee” returns but are a very dangerous strategy because they lose their purchasing power over time.

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