My Retirement Clarity with Lee Perkins

The Next Phase of Life

In this episode, Lee reflects on the journey of JL Perkins Wealth Management over the past decade. From its humble beginnings with just Lee and his sister Francesca, the firm has evolved through unexpected transitions, including office expansions and team changes. As JL Perkins Wealth Management celebrates its 10th anniversary, Lee shares insights into the strategic decisions that have shaped the firm’s growth, and how he’s working to adapt to the needs of its growing clientele.
Throughout the conversation, Lee emphasizes the importance of planning for the next phase of life, whether it's retirement or another significant transition. He also introduces his new book, Next Phase: How to Retire in a Year or Less Without Regrets, designed to help individuals navigate the complexities of retirement planning with confidence. Tune in for a great conversation!
 
Here’s some of what we discuss in this episode:
The strategic growth of JL Perkins Wealth Management over the past decade
Expanding the firm’s team to ensure continuity for clients and provide more resources
Lee’s new book Next Phase: How To Retire In A Year Or Less Without Regrets
 
For your complementary copy of Lee’s new book, Next Phase, text “Next Phase” to 478 – 254-3550
 
Want to set up a meeting with us? Visit us here: http://talkwithjp.com
Get more financial education at http://myretirementclarity.com

Questions You Must Ask Your Financial Advisor

Have you ever wondered what questions to ask your financial advisor, or why those questions are crucial? In today’s episode, we’re tackling exactly that. We're discussing the vital questions that bring transparency and depth to your financial advisory relationship.
 
Here’s some of what we discuss in this episode:
The different types of fee structures that advisors will typically have
Why your advisor’s investment philosophy is an important thing to know up front
Why you want to know what specialty an advisor has
Communication is key so you want to know what to expect in terms of frequency
Will you be working with a team or a specific advisor?
 
Want to set up a meeting with us? Visit us here: http://talkwithjp.com
Get more financial education at http://myretirementclarity.com

Financial Tips For The First Quarter of 2024

2023 is coming to an end, and, if we had to guess, there are probably some financial tasks you wish you’d taken care of this year. Not to worry, because in this week’s episode, Lee is going to share six planning tips that you can address during the first quarter of 2024. Let’s kick off the new year the right way!
 
Here’s some of what we discuss in this episode:
Keeping the right amount of money in cash
Cleaning up old life insurance policies
Consolidating old 401ks when you change jobs
Reconsidering your managed account that has limited management
Updating beneficiary designations as life changes
Automating your savings
 
Want to set up a meeting with us? Visit us here: http://talkwithjp.com
Get more financial education at http://myretirementclarity.com

Die With Zero Regrets

Have you ever stopped to ask yourself about the purpose of the money you’ve worked to save throughout your life? In financial planning, it can be easy to fall into the trap of simply viewing your wealth as a numerical scorecard, measured by monthly statements and investment returns. But as we often remind our clients, retirement planning is not just about the numbers on a page; it's about the life experiences and memories those numbers can create.
 
Here’s some of what we discuss in this episode:
Reevaluating your relationship with money and time, inspired by a book called "Die with Zero" by Bill Perkins
What is the purpose of the money you’ve saved?
Spending your money with purpose and making the most of your “go go” years in retirement
What is the “perfect day” exercise and how can it enhance your retirement planning journey?
 
Want to set up a meeting with us? Visit us here: http://talkwithjlp.com/
Get more financial education at http://myretirementclarity.com
 

Money Mistakes You’ll Regret and How to Avoid Them

The retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these hidden, but essential questions about retirement. 
 
Here are some of the items we discuss in today's show:
Pulling money out of your IRA early could mean penalties and taxes you weren’t prepared for.
The importance of increasing your savings when your income increases. It’s easy to fall victim to lifestyle creep.
How to avoid the regret of paying too much for tuition.
Retiring early is a goal for many people but leaving the work force too early can be costly.
Why many people wish they would have looked into Roth IRAs sooner.
 
Want to set up a meeting with us? Visit us here: http://talkwithjlp.com/
Get more financial education at http://myretirementclarity.com

Retirement Planning’s “Hidden” Questions

The retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these hidden, but essential questions about retirement. 
 
Here are the questions we are going to dive into in this episode:
How much are my tax-deferred savings going to cost me in taxes?
How much can I withdraw from my savings each year?
Should I still have life insurance when I’m retired?
How much am I really paying in fees and commissions?
 
Check out Episode 96 here
Want to set up a meeting with us? Visit us here: http://talkwithjp.com
Get more financial education at http://myretirementclarity.com
 
 

How Should I Invest For My Grandkid’s College Fund? & More: Mailbag Episode

Welcome back to My Retirement Clarity! This week, we’re diving into the listener mailbag to answer your questions. We’re covering a variety of topics today, many of which get asked in the office quite often. From investing in your grandkid’s college fund to how much to spend on a forever home, this episode is sure to have a takeaway for everyone.
 
Here are a few of the questions we answer in this episode:
I’d like to start investing for my grandchildren. Should I set up a 529 plan for them or invest on my own and give them the money when they go to school?
How much is too much to spend on our forever home in retirement?
My husband died 15 years ago and I’m thinking about moving in with my boyfriend, but it makes me nervous to think about selling my house and combining finances. How do you advise people in a situation like this?
I’ve talked with a few different advisors about how they get paid, and it sounds like they all have completely different models. Are there this many different fee structures or does everyone just explain it differently?
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com

The Future of Retirement In America: Is The Glass Half Full or Half Empty?

Are we on the brink of a retirement renaissance or stormy seas ahead? On this episode, we jump into the pressing issues of Social Security, healthcare, taxes, stock market trends, and long-term care. Whether you're an eternal optimist or cautious pessimist, this episode will equip you with perspectives to plan your retirement years with confidence as we ask the longstanding question, “Is the glass half full or half empty?”
 
Here’s some of what we discuss in this episode:
Politicians are unlikely to make drastic changes to Social Security due to voter concerns, however, there could be potential benefit cuts for younger generations
Lee expects healthcare costs to continue rising, despite technological advancements
It’s almost certain the tax rates will increase in the future. Lee encourages proactive tax planning to mitigate future tax burdens, especially given the current trend of rising taxes
Long-term care is expensive, and long-term care insurance options have become limited
Despite short-term market fluctuations, Lee is optimistic about the stock market’s long-term performance
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com

Retirement: Ready Or Not, Here It Comes

Are you nearing “retirement age”? If so, let’s explore that pivotal question you’ll soon face: Should you retire or continue working? We’ll unravel the intricacies of this decision, addressing both financial and emotional aspects, and help you find out if you’re truly ready to retire.
 
Here are some key takeaways from this episode:
Usually people have enough money saved to retire but need to run the numbers to discover that.
Couples need to talk about the adjustment to retirement and how they’ll handle that extra time.
People will get hung up on ‘retirement age’ but you might be able to retire earlier.
The importance of financial education when it comes to feeling confident in retirement.
How we have the conversation with someone who is ready to retire but aren’t in a position to financially.
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com

Is Having a Roth IRA a Bad Idea?

Welcome back to the My Retirement Clarity podcast! Today, Lee and Ben dive into a Yahoo Finance that claims someone lost over $400,000 of their retirement savings in a Roth IRA. Is the Roth IRA really to blame, or is there more to the story?
 
Here’s an overview of what we discuss in this episode:
Tax planning and tax diversification are essential aspects of retirement planning. Understanding the potential impact of rising taxes in the future is crucial for making informed decisions.
Roth IRAs can be a valuable retirement tool, especially for those in lower tax brackets or those willing to engage in strategic Roth conversions.
Lee cautions against taking financial advice solely from sensationalized headlines or anonymous online comments. Instead, seek guidance from qualified financial professionals.
 
Yahoo Finance Article:
https://finance.yahoo.com/news/lost-400k-retirement-savings-roth-174006044.html
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com