My Retirement Clarity with Lee Perkins

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

Healthy Journey- How Lee Has Lost 34 Pounds in 3 Months

This week, we’re switching things up to talk about a very important topic: health and wellness! Join us as we sit down with the inspiring health and wellness expert, Lizzie Gossett, who has played a vital role in helping Lee lose an incredible 34 pounds in 3 months. We’re excited to have her on the podcast today to share her insights on prioritizing and maintaining your health.
 
Here are some key takeaways from this episode:
The importance of shifting from short-term diets to a long-term lifestyle change. Developing a strong "why" and viewing health as a continuous journey fosters lasting success.
Small, sustainable changes in eating habits led to significant results.
Finding an exercise routine that suits your preferences and incorporating accountability measures can help develop consistency.
The importance of ongoing support and adapting to different life stages. Maintaining health requires flexibility and dedication, whether through coaching, accountability, or adjusting habits during special occasions.
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com

The 7-Hour Passport

Ever been on the receiving end of ‘the look’ from your spouse? In this episode, Lee recounts the dreaded look he got from his wife a few weeks ago after a meticulously planned family trip to the Bahamas was almost derailed due to a passport oversight- discovered a mere 21 hours before departure. In this episode, Lee shares his crazy adventure of acquiring passports for his two kids in just 7 hours.
 
Here are some key takeaways from this episode:
Lee talks about his horrifying realization that his family had some expired passports, less than 24 hours before his family was supposed to depart for the Bahamas
Don't rely solely on travel agencies or other parties to ensure your documents are valid. Take personal responsibility for checking and maintaining your travel-related documents
When faced with unexpected challenges, don't hesitate to seek help and utilize available resources. In this case, Lee’s connection to a state representative's office played a pivotal role in securing an expedited passport appointment. Connecting with knowledgeable individuals can lead to solutions!
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com
 
 

Resolving Financial Tension Between Couples – Bonus Episode

We’re back with a bonus episode on resolving financial tension between couples! After popular demand, we’re exploring five more common areas of financial tension: retirement housing, emergency funds, handling inheritances, insurance, and spending habits. Stay tuned to learn how advisors like Lee work to resolve conflicts in these areas as they arise. 
 
 
Here’s what we’ll discuss in this episode:
Couples may face tension when deciding where they want to live in retirement. Financial considerations, such as the cost of moving and downsizing, can influence this decision.
Couples may have different risk tolerances and views on how much to keep in an emergency fund.
Inheritances can cause tension if there are disagreements about how to use the money. Some may want to pay off debt, while others may want to enhance retirement savings or lifestyle.
Couples may have differing views on insurance needs, such as life insurance and long-term care insurance. Finding a balance between adequate coverage and cost can be a point of contention.
Establishing a budget and allocating individual spending money can help avoid conflicts.
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com

5 Ways to Resolve Financial Tension Between Couples

Money can't buy love, but it can certainly start some spicy debates between you and your better half. In this episode, we're digging into the financial face-offs that make Monopoly fights look like child's play and exploring some money minefields that can test even the most solid relationships. Listen in as we explore how to resolve some of the most common financial sources of tension between couples in retirement.
 
Here’s what we’ll discuss in this episode:
Disagreeing on risk tolerance in your portfolio. (4:10)
Figuring out what age to retire. (6:43)
Being on the same page about legacy planning in second marriages. (11:01)
Determining your retirement lifestyle as a couple. (13:24)
How are you going to handle financial management in retirement? (16:19)
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com
 
 

3 Ways To Gain Financial Independence

Celebrate the spirit of the month with our latest episode as we tackle the concept of financial independence. While the American colonists fought for freedom from British rule, Lee is here to discuss what you’re striving to be independent from in your retirement. We’ll unveil the common foes you’ll face on the journey. And good news, no muskets required for these battles!
 
Here’s what we’ll discuss in this episode:
Avoiding being too dependent on the government in retirement. (2:38)
Not having to rely on financial support from your children in retirement. (5:40)
Independence from creditors- going into retirement with little or no debt. (8:40)
 
Get Dave Ramsey's The Total Money Makeover here
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com
 

Is A Buffer ETF Strategy Right For You?

Everybody wants to make money, but nobody wants to lose it. In today's episode, Lee discusses a specific investment strategy that aims to limit downside risk while offering attractive upside potential. This strategy, known as a Defined Outcome ETF or Buffered ETF strategy, provides a unique approach to investing, especially in uncertain times like the current economic environment.
While this strategy may not be suitable for everyone, it offers an appealing balance between security and growth. Join us as we take a closer look at how ETFs work and discuss who they could potentially benefit.
 
Here’s what we’ll discuss in this episode:
What is an ETF and how does it work? (4:46)
The tradeoff with this strategy. (6:40)
Who might this strategy benefit? (8:59)
This investment is 100% liquid. (11:44)
 
Want to set up a meeting with us? Visit us here: http://talkwithlee.com
Get more financial education at http://myretirementclarity.com