Guarding Your Nest Egg

An unexpected item has made its way into Costco 🛒.  Gold bars!  Yep. You can now find one-ounce gold bars for sale online at Costco.  Mike and Kristen discuss whether or not it’s a wise move to hedge against economic uncertainty and explore the pros and cons of investing in physical gold.  The rush to buy gold bars at Costco may be a sign of growing economic anxiety and distrust in the government, but it's essential to weigh the practicality of such an investment. Physical gold can be challenging to store and transact with, and there are more accessible alternatives like precious metals ETFs. It's a good idea to consult with a fiduciary financial advisor to explore your options and make informed decisions about protecting your wealth.   ===================== 🔔 Subscribe to our podcast to learn more about all things portfolio management. 📺 Watch our weekly YouTube show / @guardingyournestegg 🧑‍💻 For a free financial plan or to talk to an advisor, Click here. 👥 Connect with us on Facebook https://www.facebook.com/talonwealth/        See omnystudio.com/listener for privacy information.

🎃 After some fall 🍂 and creepy Halloween chat 👻 (courtesy of Mike's kids), we discuss various “safe” money options that may be on your radar, and which might be best for YOU! Retirement planning can feel like a daunting task, especially when the economic landscape seems uncertain.  With interest rates on CDs, money market accounts, and Treasury yields showing promise, the question arises: Should you consider annuities or explore alternative options? Mike and Kristen dive into the pros and cons of annuities and explore the potential benefits of Treasury bonds as a safer investment choice for retirees.   =====================  🔔Subscribe to our podcast to learn more about all things portfolio management. 📺 Watch our weekly YouTube show / @guardingyournestegg 🧑‍💻 For a free financial plan or to talk to an advisor, Click here. 👥 Connect with us on Facebook https://www.facebook.com/talonwealth/See omnystudio.com/listener for privacy information.

As we approach retirement, financial decisions become increasingly crucial. One is whether to convert your traditional IRA or 401(k) into a Roth IRA. Based on a recent live event attendee's question, Mike and Kristen discuss the complexities of Roth conversions and help you understand whether it's the right choice for your unique financial situation.    ➡️ The Allure of Tax-Free Retirement Income: Roth IRA conversions have gained popularity due to the promise of tax-free income during retirement. The concept is enticing: you pay taxes upfront when you convert your traditional retirement accounts, and then your withdrawals in retirement are entirely tax-free. Who wouldn't want that? However, the decision to convert isn't one-size-fits-all, and there are crucial factors to consider.  ➡️ Understanding Roth Conversions: Roth conversions involve transferring money from a pre-tax retirement account to a Roth IRA. While this may sound straightforward, it's essential to grasp the tax implications. When you convert, the amount transferred is treated as ordinary income, subject to your current income tax rate. Therefore, your tax bracket plays a pivotal role in the decision-making process.  ➡️ Tax Bracket Considerations: Your tax bracket impacts the cost of conversion. If you're already in a high-income tax bracket, converting may mean paying a significant amount in taxes upfront, potentially diminishing the benefits of a Roth IRA. Conversely, if you're in a lower tax bracket, a conversion could be more tax-efficient.  ➡️ Timing Matters: Timing is crucial when considering a Roth conversion. It might make more sense to convert when you expect to be in a lower tax bracket, such as after retirement or during years with reduced income. Assess your future income projections to determine the most tax-advantageous time for conversion. Is a Roth IRA conversion right for you? The answer depends on your individual circumstances. It's crucial to gather information, assess your financial goals, and consult with experts who can help you make an informed decision. Reach out to professionals who can guide you on this journey and ensure that your retirement strategy aligns with your unique needs and aspirations.    =====================  🔔Subscribe to our podcast on your preferred platform to learn more about all things portfolio management.      📺 Watch our weekly YouTube show / @guardingyournestegg 🧑‍💻 For a free financial plan or to talk to an advisor, Click here. 👥 Connect with us on Facebook https://www.facebook.com/talonwealth/See omnystudio.com/listener for privacy information.

Did you know that writing out your goals makes you 42% more likely to achieve them? 🤔 This week Mike explains the significance a written financial plan can have on your future. Whether a physical document or digital, a written plan helps you analyze thoughts, set clear goals, and outline solutions for the most secure retirement possible.       =====================  🔔Subscribe to our podcast on your preferred platform to learn more about all things portfolio management. 📺 Watch our weekly YouTube show / @guardingyournestegg 🧑‍💻 For a free financial plan or to talk to an advisor, Click here. 👥 Connect with us on Facebook https://www.facebook.com/talonwealth/See omnystudio.com/listener for privacy information.

It’s no secret that mortgage rates have surged to the highest levels they’ve been in more than 20 years. Mike explains the impact this could have on soon-to-be and current retirees AND the role a financial advisor should play in your life if you’re thinking about taking out a loan for a new 🏠 or vacation home. See omnystudio.com/listener for privacy information.

This week Mike explains the transition from receiving a regular paycheck from your job to begin tapping into your retirement accounts like 401(k)s, IRAs, and pensions when you stop working. Listen to find out how money flows from these accounts to your bank, what role taxes play, and if you can pull it off as a DIY investor… 🧐 Or do you need a financial advisor? See omnystudio.com/listener for privacy information.

If you’re paying a financial advisor a fee to manage your money, what else should they be able to help you with? Mike shares his ✅-list based on the countless questions he’s been asked about investing and retirement in general during the last 2-plus decades as an advisor. 🚨Spoiler alert: Income Planning is simply one component of many that is key.See omnystudio.com/listener for privacy information.

After Mike straightens Kristen out on a “fun fact” that he thinks is a “false fact” about the summer heat ☀️, we discuss a concern many Americans ponder:  ❓How do we make sure we’re not going to be taken advantage of when it comes to our money for retirement?  After Bernie Madoff became a household name in 2008, stories of investment advisors NOT being good stewards of their client’s assets have heightened that concern. After discussing a recent ruling against a major bank, Mike shares actionable steps investors can take to help verify if they can feel comfortable working with a fiduciary financial advisor they choose... Because with so much retirement planning advertising, sometimes it's tough to know where to turn for help with 401(k) accounts, IRAs, and other assets.See omnystudio.com/listener for privacy information.

This week Mike’s degree in economics from 🐊The University of Florida and being a fiduciary pay off, because some of the “nomics” we’re hearing don’t make sense. If you’ve been scratching your head lately about America's numbers, wall street, and things just feeling off… It’s not just you. Mike explains why all of the options are worth you looking into for your investments for retirement, including possibly using structured notes as part of your portfolio… Depending on your situation.See omnystudio.com/listener for privacy information.

Regardless of the tax bracket, many Americans seek ways to save money and not pay full price. Made-up marketing holidays such as Amazon Prime Day 📦 on July 11th & 12th (along with competitors such as Walmart, Best Buy, and Target following suit in some fashion) seem to make that desire to save “easier.” This week Mike and Kristen discuss the difference between getting a deal, versus getting a deal on something you need, and how the same hype can be found in some of the marketing of various financial products, along with what to watch out for concerning your investments and accounts for retirement. See omnystudio.com/listener for privacy information.

After a reasonably strong first half of the year on wall street and decent economic data... Does this mean "Bidenomics" is a real thing and working?  Mike shares his summer ☀️ outlook. And even though each situation is different, you'll hear an idea to consider for your portfolio if you don’t think the market will be up more than 5% between now and next year. 🎬 Plus, what’s old is new again this summer (and in Kristen’s parent's attic) thanks to Barbie and the nostalgia she’s bringing to the box office 🍿. See omnystudio.com/listener for privacy information.

Your workplace retirement plan may look pretty decent right now, and that’s wonderful news! But if you (like Mike) feel the market is likely to not perform as well in the future, listen to find out what options you might possibly have for your 401(k), 403(b), or TSP accounts. This week Mike also shares his opinion of why a recession COULD be helpful for inflation. See omnystudio.com/listener for privacy information.

The American economy has many perplexed. 🤔  👎 A 3rd bank failed within the last 2 months and consumer confidence is low.  👍 However, unemployment is low, and the stock market is doing pretty well despite the Fed raising interest rates for the 10th time in a row, and inflation still being a key concern. Plus, Uncle Sam’s spending doesn’t seem to be slowing down!  Like you, Mike knows these issues need to be addressed in order to ensure a strong and sustainable economy. Since we can’t fix those things personally, he shares why it’s more crucial than ever that you take the time to have a plan created by a fiduciary that includes active management that helps make the most of your retirement accounts in any economy… Along with what fixed rate of return is appropriate in this climate. And no, it’s NOT AN ANNUITY! See omnystudio.com/listener for privacy information.

🌺 Mike’s family vacation reminds him how lucky he is to help encourage retirees to create new lifetime memories while helping them manage their retirement income and spending. After some family stories, he discusses how the economy is slowing as the fed raises rates, and why it feels odd the market isn’t responding. Obviously, he (and everyone) wants the economy and market to do well. He spotlights what the team is watching while actively managing portfolios. And with some economists predicting a recessionary period to hit this quarter or next, we hear from Mike if we’re already in a recession. Plus, he shares a tip to consider if you’re thinking of taking advantage of high-yield savings or money market accounts since interest rates are up.See omnystudio.com/listener for privacy information.

☎  A listener left a voicemail asking if gold and silver coins are a good idea to buy during concerning economic times. Mike gives a very direct answer, along with what he believes investors should consider if they do want to include precious metals as part of their portfolio. Then he accidentally shows how much he doesn’t know about football 🏈, but clarifies what he DOES know very well about finance & investing, along with ETFs and mutual funds and which one is most efficient. Then we discuss what one popular financial website says are the biggest purchases you'll likely regret in retirement. Mike’s positive perspective shines a bright light on what retirement should be all about... YOU!See omnystudio.com/listener for privacy information.

Unfortunately, corporate layoffs are ramping up beyond the tech sector. Obviously, this impacts the livelihoods of many Americans, but it’s also making investing more difficult to navigate. Mike passes along ideas to consider, especially if your upside isn’t over 4% and your money is at risk (depending on the day & institution). Then…  Is President Biden to blame for retirement accounts and wall street being down? You might be surprised by Mike’s insight. ⛳️ Plus, we celebrate the Master’s wrapping up by finding out what golf can possibly teach us about investing!See omnystudio.com/listener for privacy information.

Mike & Kristen revisit the “be, kind rewind” movie era and the different experiences they had. However, they agree that  📼 + 🍕 always made family time perfect! Then we share two different (yet similar) questions the Talon fiduciaries addressed from listeners in recent days about planning for income in retirement, especially during precarious economic times. At the end of this episode, Mike becomes the most HACKED-OFF he’s been about annuity advertising… At least to date.See omnystudio.com/listener for privacy information.

This week Mike shares a question he hasn’t been asked about money since 2008, along with the personal risks and planning investors should consider during this troubling time for the banking sector. We also dive into new data from Fidelity that shows the number of 401(k) millionaires have fallen. Listen to find out how much that group NOW feels they need to retire comfortably, and what Mike believes they should focus on for their portfolio instead.   And since Mike is a fee-only fiduciary, Kristen asks for his opinion on the various advertisements that claim converting retirement accounts into physical gold & silver is a good idea. 👎 Find out why Mike says it’s not.       See omnystudio.com/listener for privacy information.

March has been mind-boggling when it comes to economic updates! 🤯 The sudden failure of Silicon Valley Bank panicked the markets and investors, and Mike “Silver Lining” Lester is here to translate how the banking crisis does and does not impact consumers.  March is also a very exciting month for NCAA 🏀. But if you’ve listened to previous episodes, you likely know Mike isn’t a huge sports fan. He’s also not a CPA. However, he is a fee-only fiduciary financial advisor that keeps an eye on tax brackets (not basketball brackets) and how planning for inflation AND future taxes in retirement could impact the success of a financial plan.  Then, based on the volatility of wall street and how things over all just “don’t feel right”... Kristen asks Mike a brave question: Should we consider an Annuity if it pays 5% since that’s currently higher than many money market and savings accounts?  His answer may surprise you...            See omnystudio.com/listener for privacy information.

Mike starts this week by sharing how a fish fell out of the sky at his home. 🧐 Oddly, that strange moment matches the tone of our economy during this confusing (and overwhelming for many) financial time. 2023 was off to a good start on wall street, but volatility returned in February, and inflation isn’t coming down despite the rate hikes... And we just witnessed the 2nd largest bank failure in American history! Mike shares his stock market insight so that you have more perspective to draw from concerning your 401(k) and other retirement accounts. We also spotlight the fixation of knowing how your savings measure up to others, and many wanting to accumulate $1 million in their portfolio before they retire. See omnystudio.com/listener for privacy information.