My Retirement Clarity with Lee Perkins

Finance Fortress: Practical Strategies for Retirees Against Scams & Fraud

As much as any other threat, recognizing and avoiding scams has become an essential skill, particularly for retirees. Join us as we explore crucial steps you can take to safeguard your financial well-being against the growing tide of scams and identity theft. Learn from real-life stories and gain practical advice to keep your finances secure in this digital era, all from the perspective of a seasoned financial professional.
From government imposters to sweepstakes, robocalls, and romance scams, we’ll share valuable insights into the tactics used by scammers. We’ll share how to spot red flags and protect yourself against phishing emails, vishing phone calls, and smishing texts before it’s too late. And, in the event that you do fall victim to a scam, we’ll provide actionable steps to mitigate the damage.
As technology advances and scams evolve, this conversation is more important than ever. Don't miss out on this opportunity to arm yourself with knowledge and protect your financial future!
 
Here are the questions we answer in today’s show:
How common these scam threats are + phishing, vishing, and smishing techniques
The various types of scams out there + some of Lee’s clients who have been targeted by fraudulent schemes
Some ways to spot some of these scams and protect your personal information
What should you do if you fall victim to a scam?
 
Links for this episode:
https://www.cnbc.com/2023/10/08/how-one-retired-woman-lost-her-life-savings-in-a-common-elder-fraud-scheme.html
https://www.thomsonreuters.com/en-us/posts/investigation-fraud-and-risk/senior-citizens-financial-scams/
 
Want to set up a meeting with us? Visit us here: http://talkwithjp.com
Get more financial education at http://myretirementclarity.com

Mailbag: How Do I Stop Going in Circles and Make Financial Decisions?

We’ve got a mailbag edition of the show today! We’ve gathered some great questions over the last several weeks that we’re excited to share with you. From the tax implications of financial gifts to navigating retirement spending and overcoming indecision, Lee is here to shed light on a range of real-world topics.
Dorothy asks for advice on how to financially support her daughter, who wants to take time off work to be with her newborn baby in the hospital, and what the tax implications might look like. Rose asks how to break the cycle of indecision and make confident financial decisions.
We love hearing from you, our listeners! No question is too basic, so if there’s something on your mind that you’d like Lee to answer, be sure to send it our way for your chance to be featured on the show.
 
Here are the questions we answer in today’s show:
“I’m a police officer and have been given medical retirement at 53, but I feel like I need to still be earning money at my age. Any thoughts on how to approach this?”
“My daughter wants to take time off work to be with her new baby who is in the hospital. We want to help financially but are unsure about the tax implications and how this might impact our retirement.”
“Every time I need to make a financial decision, I end up talking myself in circles. How do I stop this?”
“I’m 79 and don’t worry about us running out of money anymore. We don’t have kids and I have regrets about not traveling much in the last decade. Should I start spending to make up for previous years of pinching pennies?”
“At 60, I've been offered two work options: stay on for 5-6 years for a pension or retire now with a severance package and pension buyout. How should I decide?”
“I'm retiring soon with 18 weeks of vacation and sick leave payout. If I retire in December, it'll be taxed this year. Should I wait until January for a different tax year?”
 
Want to set up a meeting with us? Visit us here: http://talkwithjp.com
Get more financial education at http://myretirementclarity.com
 

Are Your Good Money Habits Holding You Back?

This episode might be a bit counterintuitive. We’re going to question the real impact of common financial habits. Are the strategies you consider beneficial actually working in your favor? We explore the pros and cons of practices like ignoring account statements and strict budgeting.
Join us for a practical discussion, as we uncover the unexpected effects of everyday money decisions. Are your good money habits holding you back?
 
Here’s some of what we discuss in this episode:
Ignoring account statements keeps you from overreacting but what are you missing by doing that too much?
Staying on a strict budget will help you achieve financial goals but it can become overly restrictive.
Investing in what you know is a good strategy, but it might lead a lack of diversification.
Automation makes investing and saving simple but it could lead to disengagement.
Is there a downside to paying off all your debt?
 
Want to set up a meeting with us? Visit us here: http://talkwithjp.com
 
Get more financial education at http://myretirementclarity.com

Retirement Planning Is Harder Than It Used To Be

Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning.
In this episode, we’re diving into the changing landscape of retirement planning. From the complexity of investment options to the future of Social Security, we’ll discuss the obstacles faced by today’s retirees. Tune in as we explore why retirement planning is now more challenging than ever before and offer insights to help you navigate your retirement journey with confidence.
 
Here’s some of what we discuss in this episode:
The shift away from long-term company loyalty and the decline in company pensions
The unpredictability of the housing market + high costs and interest rates
The increased complexity and risks in today's investment landscape
The growing challenges of the “sandwich generation”
The strain on Social Security due to fewer contributors and an aging population drawing benefits
 
Want to set up a meeting with us? Visit us here: http://talkwithjp.com
Get more financial education at http://myretirementclarity.com
 

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