Retirement Compass
44 episodes - English - Latest episode: 11 months ago -Financial Advisors and Retirement specialists Tim Kulhanek and Jeff Gove dive into various retirement topics concerning your retirement.
Homepage Google Podcasts Overcast Castro Pocket Casts RSS feed
Episodes
Financial Headlines May 20-28, 2023
June 09, 2023 15:59 - 13 minutes - 18.7 MBTim discusses some of the top financial news from late May. The Stonebridge team can help with their various accounts in putting together a set financial plan for retirement The big current issue is the debt ceiling debate which was before Congress at that time. Back at 2011 when this issue was up again and how the market was affected by a brief government shutdown while the ceiling was worked out There also is recent news that parents are continuing to spend down their retirement sav...
Summer Travel 2023
May 19, 2023 18:55 - 14 minutes - 19.5 MBPrices are going to be up for nearly everything involving vacation planning for this summer - hotels, airfare, meals, etc. But taking that summer trip should still be on your agenda. Tim and Jeff discuss why this is important. Getting away from work is good for the mind. Tim says there are many things to do that aren't extravagant or expensive, such as going to a nearby lake Jeff says you can check for deals that could make your trip less costly, such as when airline flights occur that c...
Boomers Up To Bat; Gen X On Deck
May 11, 2023 17:48 - 29 minutes - 40.2 MBThe so-called Baby Boomer generation has been retiring for a number of years, but the next group, referred to as Gen X, is on the cusp of their retirement years. This podcast focuses on the latter group and the preparations they need to make in planning for life after working. It is never too early to prepare for retirement, but people looking to retire in the coming year or two need to get their plans in order, or start putting one together, so that their retirement savings can...
Retirement Rubik's Cube
March 20, 2023 21:50 - 27 minutes - 38.3 MBRemember that 80's phenomenon the Rubik's Cube, the six sided puzzle where you need to make every side the same color. There are a lot of parts to get right, and retirement planning can be the same way. Tim and Jeff discuss how this analogy fits and how the pieces can be arranged so that your retirement plan - i.e. Rubik's Cube - can be solved correctly. Takeaways All the pieces of a Rubik's Cube, or any other puzzle for that matter, need to properly fit together. And so it is with reti...
Retirement Puzzle Cube
March 20, 2023 21:50 - 27 minutes - 38.3 MBRemember that 80's phenomenon the Rubik's Cube, the six sided puzzle where you need to make every side the same color. There are a lot of parts to get right, and retirement planning can be the same way. Tim and Jeff discuss how this analogy fits and how the pieces can be arranged so that your retirement plan - i.e. Rubik's Cube - can be solved correctly. Takeaways All the pieces of a Rubik's Cube, or any other puzzle for that matter, need to properly fit together. And so it is with reti...
Risks In Retirement
February 03, 2023 17:57 - 27 minutes - 38 MBRetirement comes with a lot of potential risks, but two stand out – longevity and health care – because they are big unknowns. Jeff Gove addresses these as well as more known factors such as taxes and being prepared. The Retirement Compass process takes planning into account through age 95 to address the issue of longevity. Their software gives a probability of success for each individual plan Health care is expensive and Medicare plans have numerous options available – one of which c...
Getting To Know Jeff Gove and Tim Kulhanek
December 08, 2022 20:29 - 25 minutes - 34.7 MBTim and Jeff, along with Scott Nachtigal, are the three founders of Stonebridge Insurance and Wealth Management. This episode talks about their background, how Stonebridge got started and how each came to become part of the team, as well as their personal lives and families. Jeff originally wanted to go into the medical field. After some time in the service, in college at Evangel in Springfield, Missouri, and managing a local motel, he got a job with a financial services business in Kearney...
The Retirement Compass Process
December 08, 2022 20:15 - 27 minutes - 38.4 MBToday Tim and Jeff discuss the Stonebridge Retirement Compass, their way of formulating a complete retirement plan for each individual client, and the five components of it - income, growth, tax, health care and estate/legacy planning. The process was developed because the Stonebridge team to wanted to show folks that there is more to retirement planning than just investments. Clients who contact Stonebridge want to find out more about tax planning or Social Security strategies that their...
More Alternative Investment Strategies
September 15, 2022 19:23 - 26 minutes - 36.2 MBTim and Jeff interview Miguel Rios, a product specialist and research strategist with Blue Rock about the Total Income and Real Estate Fund. Takeaways The fund is set up for income and capitol appreciation. In its ten year history, the fund has paid a quarterly dividend averaging 5.25% annual interest It primarily invests in real estate of all kinds, commercial and residential The main differences between this fund and typical mutual funds concern the amount of illiquid securities it ...
Different Investment Strategies
August 05, 2022 21:24 - 19 minutes - 26.9 MBToday Tim and Jeff are joined by Alex Bobbin, a senior investment analyst at Brookstone Capitol Management. Takeaways The main topic is called a structured note, which is an alternative investment that combines a zero-coupon bond with an options package. They are positioned for investors primarily for income production There are two versions with different call dates. But each follows a stock index that can pay from 7-14% with a lower degree of risk than traditional stock or bond invest...
Retirement Dreams vs. Reality
August 05, 2022 21:06 - 26 minutes - 36 MBA retired University of Kansas professor, Dr. David Eckert, recently talked in an interview about how what he thought retirement was going to be like is different from the reality of it. Tim and Jeff expand on this subject in today's podcast. Takeaways You need a plan not only for your finances, but also with what you are going to do with your time. This could include hobbies, volunteer work, even part-time employment As advisors, Tim and Jeff include this as part of their Retirement Co...
Headlines and Listener Questions
August 05, 2022 20:08 - 25 minutes - 34.4 MBMost baby boomers don't have access to pensions, and with the longer lifespans of today, chances have grown that they may run out of money. Health care and inflation are huge concerns. The Retirement Compass process takes inflation into account, as well as health care, growth, legacy planning and, of course, income. Takeaways Tim also answers listener questions concerning free time in retirement, rebalancing assets as retirement approaches Organizing accounts and statements before getti...
Money Concerns in Retirement
August 05, 2022 19:55 - 27 minutes - 37.9 MBIn this episode Tim and Jeff talk about the biggest concerns retirees have going into retirement. Takeaways Running out of money is the biggest concern of retirees. One of the big reasons for this is the possibility of going into long term care, which is expensive and rising in cost faster than regular inflation Longevity risk - the possibility of living a longer life than you might expect - is also a big concern Market risk concerns people because for those still working, most of the...
Mental Health in Retirement
August 05, 2022 19:32 - 26 minutes - 36 MBAlong with financial planning for retirement, it's important to also plan for what to do with their time to avoid boredom and the possibility of depression. Takeaways The recent pandemic put many people into a situation where they couldn't see family or friends. Finding a way to help ground oneself to stay mentally and emotionally level is an important aspect of post-working life Ways to fill one’s time could include some volunteer work, hobbies, or part-time employment. These and other...
The Five Financial Stages of Life
August 05, 2022 19:21 - 25 minutes - 34.6 MBIn this episode Jeff looks at various stages of people's lives and how they relate to saving for retirement. Takeaways In the younger years when first starting a career, needs include covering any future financial obligations with insurance, especially life and home. Then starting to save for retirement is the next priority Pre-retirement starts to get serious when people get to around age 50. Some people want to retire sooner, and health insurance is the biggest concern for them Gett...
Four Keys to A Comfortable Retirement
August 05, 2022 15:12 - 26 minutes - 36.4 MBToday Tim goes solo to discuss four areas that help retirees enjoy a more comfortable life after their working years are over. Takeaways Having little or no debt, especially high interest credit card debt. Stonebridge uses the Dave Ramsey program to help retirees pay off what debts they have A written income plan is needed to determine what is needed for regular expenses. Having employer sponsored assistance, which in most cases is a 401K savings program but can also be a pension, as...
All About Buffered ETFs
July 29, 2022 21:34 - 19 minutes - 26.3 MBPeople are not getting much growth to so-called safe money investments such as savings accounts or money markets, leaving much riskier ways to try and achieve growth. But buffered ETFs are an off-the-beaten path tool that could work in some portfolios. In this episode, Bennett Thayer of Innovator ETFs joins Tim and Jeff to discuss this investment vehicle. Takeaways The buffered ETF was formed in 2018. It gives the holder upside exposure to a degree against indexes like the S & P 500 or Ru...
401K and IRA Decisions
July 29, 2022 14:41 - 26 minutes - 36.9 MBThese are the most popular vehicles for savings in retirement. Tim and Jeff discuss what they are and positives and negatives concerning each. Takeaways Traditional and Roth IRAs have different types of tax advantages. The traditional is tax deferred so the savings come up front, while the Roth brings you tax free growth and withdrawals but you pay taxes on what you put in 401Ks are provided by employers and have a limited number of choices to invest your savings. IRAs have much more fl...
Retirement For Small Business Owners
July 27, 2022 15:20 - 26 minutes - 36.1 MBSmall business owners have numerous challenges in running their business. But they also face challenges when it comes to retiring. A recent survey showed over a third of small business owners don’t have a retirement plan. Takeaways There are IRA options available, including a SEP Simple IRA for businesses with under 100 employees Self-employed 401K for people who work for themselves with no employees
Do You Need Life Insurance In Retirement
July 27, 2022 14:57 - 26 minutes - 36.1 MBLife insurance has obvious advantages when you are younger and need to protect a family in case of a tragedy. But in retirement, life insurance can have other advantages in the right plan. Takeaways It is the most tax efficient way to transfer wealth Proceeds from a policy are tax free Some policies can also be used to pay for long term care by allowing holders to use the death benefit for that purpose
Retirement Challenges for Women
July 22, 2022 20:53 - 25 minutes - 35.5 MBWomen have their own unique challenges when it comes to retirement, especially given that they outlive their partners or spouses more often than not. Proper planning can help assure a surviving spouse that they have the income to continue their lifestyle after a partner passes away. Takeaways Health care concerns also play into this, especially long-term care Statistics show that women age 65+ are more likely than men to live below the federal poverty level Proper planning can help pr...
Headlines and Financial Literacy
July 01, 2022 21:36 - 23 minutes - 32 MBTim discusses tax rates and how possible coming increases could effect retirement planning and how a plan can make income distribution as tax efficient as possible. Takeaways Importance of investing choices in 401Ks Importance of financial literacy Creating a budget to get a grasp on expenses
Retiring Today
July 01, 2022 21:10 - 27 minutes - 38.5 MBThe concept of retirement planning is completely different than it was 30 or 40 years ago. Longevity risk – the result of people living longer – is forcing people to make sure what savings they have last for as much as forty years. Tim and Jeff discuss how it has changed and the different kinds of tools available to help in today’s environment. Takeaways: Few of today’s retirees have pensions most have to rely on their 401K savings how that money can provide income
Money Challenges in Retirement
July 01, 2022 20:37 - 23 minutes - 32.1 MBPeople are most worried about running out of money in retirement. Jeff and Tim talk about some ways that having a solid financial plan can help alleviate these fears and help put money where it is needed most. The biggest concerns include: Rising costs of health care, especially long term care Inflation Having money on hand for emergencies
Inflation Pt. 2
December 01, 2021 13:00 - 37 minutes - 51.2 MBInflation is an increasingly huge topic in the current news, as the U.S. is experiencing inflation rates higher than any seen since the late 1970’s. Today Tim and Jeff discuss why inflation has to be accounted for in a solid retirement plan to be sure there is enough growth potential to cover higher costs which are surely coming in any future years – not only for ongoing regular expenses but also for unexpected expenses and covering health care costs, which rise at nearly double the rate of ...
Legacy Planning Pt. 2
November 23, 2021 14:36 - 36 minutes - 50 MBLegacy planning is the final piece to a solid retirement plan. But it is an important one in regards to what your loved ones final wishes are for having things properly distributed to whomever they want. Tim and Jeff discuss the process for a proper legacy plan, which includes taking into account tax implications for the estate. They also discuss other do’s and don’ts of retirement planning in the opening portion of the show.
Impact of Inflation
November 15, 2021 19:39 - 37 minutes - 51.6 MBWe have all seen inflation skyrocket in recent months to the highest levels in years. And retirees on a fixed income feel it more than any other age group. Tim and Jeff stress the importance of planning around inflationary times, and making sure your income keeps up with the ever rising prices of everything, especially including health care which goes up at around double the rate of most other goods.
Seven “Baby Steps” Toward Achieving Financial Independence (Part 1)
May 12, 2021 17:16 - 17 minutes - 23.9 MBTim and Jeff are now involved with the Dave Ramsey Smartvestor Pro program, this podcast and the next will discuss Ramsey's 7 baby steps toward financial independence. On this podcast, they dive into the first four steps.
Breaking Down Group Retirement Plans
March 26, 2021 16:23 - 25 minutes - 34.7 MBTim and Jeff discuss group retirement plans, such as 401Ks, Pension plans, and more. They also go through some specific situations that folks may be involved in when dealing with these accounts.
A Look At The Future of Taxes
March 26, 2021 16:15 - 30 minutes - 41.8 MBTim and Jeff take a look at what could be on the horizon if President Biden’s tax proposals are passed.
Should You Get a Second Opinion?
December 15, 2020 16:32 - 25 minutes - 35.5 MBTim and Jeff talk about why getting a second opinion is a wise decision for those approaching retirement, and discuss some questions that you should be asking about your retirement plan.
Tax Planning for the Year Ahead
December 15, 2020 16:08 - 21 minutes - 28.9 MBTim and Jeff discuss tax planning strategies for retirees as we head in to 2021.
Understanding 401K's
November 11, 2020 19:24 - 25 minutes - 35.5 MBTim and Jeff discuss 401K's and common questions they hear about them. How do 401K's work? How are they taxed? What is inside of a 401K?
Taxes in Retirement
October 14, 2020 15:48 - 23 minutes - 32.5 MBThis episode discusses: Traditional vs. Roth IRA's How Social Security income can affect taxes Various issues involving capital gains
Legacy Planning
September 02, 2020 22:03 - 26 minutes - 37.2 MBTim and Jeff discuss what us means to have a legacy plan, and the importance of leaving a legacy. How are legacy and long-term care planning intertwined? This along with much more on this weeks podcast.
The ABC's of Annuities
August 05, 2020 19:41 - 20 minutes - 28.5 MBTim Kulhanek and Jeff Gove answer some common questions that retirees have about annuities: Why annuities are a popular product? Why they are so misunderstood? The different types of annuities ? What fees can be involved?
Social Security
July 23, 2020 19:14 - 20 minutes - 28.6 MBThey go over: - The rules - Planning for taxes in regards to how you take it - What people can do before they retire to help mitigate the tax burden on their Social Security income
Voluntary Separation Program (VSP)
July 23, 2020 15:00 - 19 minutes - 27.1 MBTalking points include: - Experiences with clients on what to do if offered one of these packages - Health insurance is a huge factor - is a Cobra plan part of the package? - Do you qualify for a subsidy for insurance under the Affordable Care Act? - Don't let your emotions cloud your decision on whether to accept a VSP
The Ins and Outs of Annuities
June 08, 2020 20:38 - 23 minutes - 32.9 MBWhat is an annuity? The different types of annuities vary greatly, so how do you find out which annuity is right for you?
Living Through a Pandemic
June 08, 2020 15:20 - 18 minutes - 25.3 MBWhat are you doing to maintain your own mental health during this pandemic? For those who remember, what was life like during past major pandemics?
The New Normal
May 11, 2020 16:09 - 19 minutes - 26.3 MBThis episode discusses how the latest market news involving the pandemic has changed the way Stonebridge serves clients and potential clients. They address using new technologies like Zoom to conduct virtual meetings which are not face to face, as well as secure electronic document signing. They also discuss whether volatility is the new normal.
Health and Long Term Care Planning
May 11, 2020 16:01 - 16 minutes - 22.5 MBThis episode takes a look at long term care, and ways to account for paying for it such as various insurance or annuity products. Also 3 things to think about in putting a personalized plan together.
Retirement Benchmarks
May 11, 2020 14:42 - 13 minutes - 18.3 MBThis episode centers in on the importance of comparing your portfolio to some kind of benchmark, such as the S&P 500 or other financial item. It also focuses on allocation strategies such as using the Rule of 100, as well as defining true diversification and why it is important to have it in your plan.
4 Areas Your Retirement Plan Needs to Address
May 11, 2020 14:21 - 14 minutes - 19.2 MBThis episode focuses mainly on income planning. It focuses further on four areas a good retirement plan needs to address - safety, income, growth and liquidity.