Lifetime Income Series
The Lifetime Income Series: Two Do or Not Two Do: Second Homes in Retirement
Special Guest: Herb Schultz, Regional Director of the US Department of Health and Human Services
This week Jim and Cathlyn discuss an important issue in many retirement plans; a second home. It’s estimated that about 40% of Baby Boomers are planning on second homes. For many, a second home – usually a vacation home- is a big part of how they view their retirement years...
The Lifetime Income Series: Getting a Grip on Healthcare Costs
Special Guest: Dr. Georgia Sadler on Cancer Risks and Prevention
In this week’s edition of the Lifetime Income Series, Jim and Cathlyn follow up last week’s focus on Social Security and Veteran’s benefits by looking at Medicare benefits, as well as outlining typical healthcare costs during retirement....
The Lifetime Income Series: Social Security and Veteran’s Benefits 101
Special Guest: Peter Gravett, Secretary of the California Department of Veteran’s Affairs
This week the program is about government benefits. Jim and Cathlyn discuss Social Security benefits, including when you can take them, how the benefits are determined, and if you can collect benefits while still working. They also discuss how to estimate the size of your benefit, and if other pensions may reduce your Social Security benefit. Jim explains why it is important for couples to do some advance planning for handling their Social Security benefits. The guest this week is Peter Gravett, Secretary of the California Department of Veteran’s Affairs. Peter and Jim discuss what is available for veterans in terms of medical care, home care, schooling, insurance and other areas.
The Lifetime Income Series: Learning From Your Investment Mistakes
Special Guest: Chad Moutray, Chief Economist at the National Association of Manufacturers
This week Jim and Cathlyn discuss investment mistakes, specifically how to recognize and learn from them, and then focusing on changing your investment behavior. They discuss a recent Wall Street Journal article titled “The Seven Deadly Sins of Investing” by Kirsten Grind (subscription required). As you might suspect, Jim’s first topic is to have a plan, which helps keep you focused and able to avoid many common investing mistakes. The guest this week is Chad Moutray, Chief Economist with the National Association of Manufacturers. Chad will discuss states that are friendly for business, have attractive tax structures, and a reasonable cost of living.
The Best of The Lifetime Income Series: De-Bunkering Doomsday Prepper Portfolios
Also, “Brainless Is Painless” – Efficient Retirement Investing
In this special reprise edition of The Lifetime Income Series, Jim and Cathlyn discuss “De-Bunkering Doomsday Prepper Portfolios” as well as “Brainless Is Painless” – Efficient Retirement Investing. In the first topic this week Jim and Cathlyn discuss Doomsday portfolios, mostly cash and gold, and suggest that investors look at potential outcomes and consider diversifying their assets. They discuss historical disasters and note what worked best, and also look at what would likely happen in a dollar crash. Jim and Cathlyn discuss a more balanced approach, one that would still offer protection, but also participate in market advances. In the next topic, Jim and Cathlyn discuss employer-sponsored retirement plans. They look at tax efficiency, investment efficiency and the benefits of automatic “brainless is painless” contributions. They also discuss investments available in a 401-K plan.
The Best of The Lifetime Income Series: After You’re Gone - Preparing and Protecting Your Spouse
Also, Retooling The Retirement Withdrawal Rate (The 4% Rule)
In a special reprise edition of The Lifetime Income Series, Jim and Cathlyn discuss two important topics, “After You’re Gone- Preparing and Protecting Your Spouse” and “Retooling The Retirement Withdrawal Rate (The 4% Rule)”. In the first segment they discuss the important but difficult topic of preparing and protecting a spouse if you were to die first. They stress the importance of consolidating estate and financial documents, reviewing financial plans, looking at the possibility of using a corporate trustee. They also discuss the emotional aspect that is a critical component of the preparation process. In the next topic Jim and Cathlyn look at the “4% Rule” for retirement withdrawals. They discuss what it is, why it isn’t working, and what you should do instead.
The Lifetime Income Series: Don’t Louse It Up - Avoiding Early Retirement Mistakes
Special Guest: Louis Tenenbaum on Elder-Friendly Home Design
This week Jim and Cathlyn discuss many of the mistakes recent retirees make and how to avoid them. Some of the most typical, and most damaging, mistakes include splurging on big-ticket items, mishandling Social Security, not making a budget, moving without adequate preparation, and not having a plan for what they want to do in retirement. The guest this week is Louis Tenenbaum, a consultant on Aging In Place; the idea that our homes are the most desirable and economical place for housing and care as we age. He will discuss elder-friendly home design.
The Lifetime Income Series: Understanding Life Insurance: If, When, What and How Much
Special Guest: Gary Thomas, President of the National Association of Realtors
In response to listener feedback, this week Jim and Cathlyn look at the subject of life insurance and offer some guidance as to when you should consider it, what type you may want to purchase, and what level of coverage you might need. They start with a discussion of if you even need life insurance, and look at various scenarios where it could be beneficial. They also discuss the various types of life insurance as well as things to consider when purchasing life insurance. The guest this week is Gary Thomas, current president of the National Association of Realtors. They will discuss the current real estate environment and what it looks like going forward.
The Lifetime Income Series: How to Choose a Financial Planner or Investment Advisor
Special Guest: Attorney Elizabeth McCoy on Special Needs Trusts
This week on the Lifetime Income Series, Jim and John talk about the importance of a retirement plan from the perspective of choosing a financial planner or investment advisor. They begin by discussing what you need to know and what you need to ask in choosing a professional to help you. They discuss the differences of working with an individual or a team of professionals. They also discuss the major investment issues today, including how retirees are reaching for yield and how many have lost money in bond funds in recent months. The guest this week is attorney Elizabeth McCoy, an expert on Special Needs Trusts.
The Lifetime Income Series: Simplify, Simplify, Simplify: Making Things Easy On Your Heirs
Special Guest: Ruben Garcia of the US Small Business Administration
This week Jim and Cathlyn discuss the benefits of simplifying the setup of assets, as well as the estate plan itself, to help make things easier on your heirs. They also discuss the importance of having someone, besides the “money person” in the family, with a full picture of the financial situation; where all the pieces are, and how to access them. It could be a family member, a trusted friend, a CPA or attorney. The guest this week is Ruben Garcia, a local District Director of the US Small Business Administration. He will discuss the topic of starting a small business while in retirement.