Retirement Plain & Simple

The 5 Foundations of a Comprehensive Financial Plan

March 01, 2024 10:00 - 31 minutes - 29.2 MB

You’ve probably seen or heard the term “comprehensive financial planning” used pretty frequently in the financial space. But what exactly does this mean and entail? In today’s episode, we’re going to focus on what comprehensive planning means to us here at Kemp Harvest Financial Group. Stay tuned as we give you a quick overview of the five foundations that make up a comprehensive plan. When thinking about these five “mini plans,” it helps to picture a Rubik's Cube. Each side represents a d...

Financial Habits and Resolutions

February 01, 2024 10:00 - 31 minutes - 29.4 MB

January often brings a wave of commitment to better money management, with many of us eager to make positive changes and set new money-related goals. With financial resolutions on many of our minds, we thought we’d take the time to explore some positive and negative aspects of common financial habits. Stay tuned as we discuss whether the “good” habits you’re considering are truly working in your favor. Whether you're on a mission to pay off debt, build an emergency fund, or keep a strict b...

The Power Of An Intentional Spending Plan with Sue Derr

January 01, 2024 10:00 - 44 minutes - 40.7 MB

This week, we're thrilled to have Sue Derr, a seasoned budget coach from Crown Financial Ministries, on the show to explore the crucial topic of budgeting, just in time for the upcoming new year. With a background in budgeting that dates back over 30 years, Sue brings a wealth of experience and wisdom to the table. Stay tuned as she shares incredible insights into the art of effective budgeting and financial stewardship. Discover how aligning your values with a thoughtful spending plan can...

Retirement Planning for High-Net-Worth Individuals

December 01, 2023 10:00 - 23 minutes - 21.8 MB

In today's episode, we're taking a close look at high-net-worth individuals - those who have accumulated significant wealth and face unique challenges and opportunities when planning for retirement. Unlike the average person, their financial considerations go beyond the basics. We'll explore the distinct strategies and factors that come into play when securing a comfortable and prosperous retirement. Join us as we dive into the realm of taxes, estate planning, and various complexities that...

End of Year Financial Planning For 2023

November 01, 2023 09:00 - 25 minutes - 23.9 MB

It’s that time of the year again! Join us for a thoughtful episode where we unpack our 2023 edition of key year-end planning strategies for those nearing or embracing their retirement years. We'll explore the nuances of optimizing your investment portfolio, safeguarding your assets, and ensuring a stable, rewarding lifestyle in the years to come. We’re also excited to welcome David Lawrence, CFP®, AIF®, on today’s show, who is new to the podcast, but has been with Kemp Harvest Financial Gr...

Planning for Long-Term Care and Retirement Communities with John Bryant

October 01, 2023 09:00 - 45 minutes - 41.4 MB

As we age, the topic of long-term care and retirement planning becomes increasingly important. However, trying to work through the different options can often feel overwhelming and daunting. That's why we've brought in senior living expert John Bryant on our latest podcast episode to share his wealth of knowledge on these topics. John currently serves as the CEO of Christ’s Home in Warminster, Pennsylvania, and his experience in senior living goes back decades. His background gives him a ...

Effective Estate Planning with Bill Cooper

September 01, 2023 09:00 - 43 minutes - 39.5 MB

Today we are excited to dive into the intricate world of estate planning with seasoned estate planning attorney, Bill Cooper. With over two decades of experience in the field, Bill brings a wealth of knowledge and expertise to the table. Join us as we explore the critical elements of estate planning that go beyond simply drafting a will. Tune in to discover how estate planning can help you maintain control over your assets, make informed decisions about healthcare, and safeguard your legac...

Understanding Income in Retirement

August 01, 2023 09:00 - 25 minutes - 23.6 MB

In this episode, we’re diving into the essential components of retirement income planning. Mark and Todd break down the five major areas of retirement expenses, including housing, healthcare, food and groceries, transportation, and paying off any remaining debts. They also touch on nice-to-haves, such as travel, leisure activities, self-care, and gifts. Tune in so that you don’t forget to account for any of these expenses! We’ll highlight some key factors to consider when planning for your...

Mastering Retirement Cash Flow: Understanding Changing Expenses

July 01, 2023 09:00 - 29 minutes - 27 MB

In this episode, we’ll explore many of the expenses in your life that might drastically change (one way or another) in retirement. We’ll break those expenses down further to see which ones are the top priorities and analyze some of the other factors that impact your cash flow in retirement. Join us as we talk about home renovations, travel costs, healthcare expenses, inflation, taxes and much more. We’ll analyze different scenarios and provide you with practical insights into retirement ...

6 Major Life Events That Impact Your Financial Picture

June 01, 2023 09:05 - 30 minutes - 27.9 MB

Are you ready to take control of your finances during life's most pivotal moments? In this episode, we dive into the complex world of financial decision-making during six key life events. Each of these could have a major impact on your money and your future. From the excitement of marriage and the joy of welcoming a new child to the challenges of divorce and the loss of a loved one, we'll provide practical tips and guidance to help you make informed decisions and maintain financial stabi...

Ep 45: How Age and Wisdom Impact Financial Planning

May 01, 2023 09:00 - 24 minutes - 22.7 MB

Age and wisdom go hand-in-hand when it comes to planning for your financial future. While knowledge is certainly important, it is not enough on its own. In this episode, we will dive into the significance of both wisdom and experience in preparing for the retirement of your dreams. There’s an old quote that says, “Age is the price of wisdom.” Ask yourself, have you changed your opinion on money and saving for retirement as you’ve gotten older? With the right planning, you can ensure that...

Ep 44: Spring Cleaning: Tips To Keep Your Finances Organized

April 01, 2023 09:00 - 21 minutes - 20.1 MB

For some people, it’s time for spring cleaning. And that often means diving into a cluttered closet and getting it cleaned out and organized. In this episode, we’ll discuss what principles we can take from a closet clean-out and apply to our financial lives. It’s always overwhelming to start the process of cleaning and organizing a closet, and for most people, it’s no different when it comes to getting organized financially. But keeping your finances organized is an important part of the f...

Ep 43: Navigating Tax Season – Filing vs. Planning & Other Money Saving Concerns

March 01, 2023 10:00 - 29 minutes - 27.6 MB

On this episode of Retirement Plain & Simple with Mark Kemp & Todd Little, we’ll address some key money saving concerns that we think you’ll find helpful as we run full speed into tax season. Todd is going to kick us off by breaking down the important difference between tax filing and tax planning. It's a crucial distinction that you'll want to know about to avoid missing out on key opportunities throughout your retirement years. We'll also dive into one of the age-old debates: Roth vs. ...

Ep 42: Six Financial Advisors You Should Avoid

February 01, 2023 14:26 - 24 minutes - 22.5 MB

If you want to improve your finances and plan for retirement, it’s good to have a financial advisor. Picking the right advisor can lead to one of the most important relationships in your life. But not all advisors are created equal. In this episode, we’re going to point out some of the people that you might want to stay away from. We’ll share some red flags you should look for when searching for the right advisor so that you can make the right choice with your financial future. Remember,...

Ep 41: The Financial House

January 02, 2023 02:52 - 34 minutes - 31.5 MB

Over 30 years ago, a mentor in the business taught about “The Financial house”. With the New Year here, we want to help you get your Financial House in order. Every house needs a good foundation, and this lesson will help you make sure your foundation is strong. Let’s jump in! Here’s what you’ll learn on the show: The three parts of the Financial House. (3:57) Do you have a functional budget? (6:11) Getting your financial documents in order. (12:44) Weighing risks and insurance. (...

Ep 40: Making Smart Decisions During Major Life Events

December 08, 2022 10:00 - 30 minutes - 28.1 MB

Most of us make a financial mistake (or two) in our lifetime, but there are circumstances that it's imperative to make the right decision. When major life decisions occur, you want to understand how they can affect your finances. Let’s explore some of the things you should be thinking about to make smart financial decisions when you encounter some of the most significant events in your life. Here’s what you’ll learn about mutual funds on the show: What you should consider when going thr...

Ep 39: Is There Greener Grass On The Other Side?

November 10, 2022 10:00 - 28 minutes - 39.9 MB

Sometimes you need to find a new financial advisor. Other times, you might think you need a new advisor, but really, you’re just guilty of thinking that the grass is greener on the other side. Today we’re sharing some common scenarios and whether they’re legitimate reasons for leaving your advisor. In our 30-plus years in the financial industry, we’ve seen it all. We’ll share some hypothetical scenarios and see if any of these apply to you. Here’s some of what you’ll learn in this episod...

Ep 38: Warning Signs: How to Spot Problems in Your Financial Life

October 13, 2022 09:00 - 22 minutes - 20.8 MB

Just like the lights on your dashboard can indicate if something is wrong with your car (like low tire pressure or leaking oil), there are indicators in your financial life that might point out that you have a problem that needs to be addressed… You might have watched your parents retire in their early 60s and think that’s how it should still be for everyone. But consider that you’ll likely live much longer than them, you probably don’t have the pension that they had, and the costs for yo...

Ep 37: Going Against the Grain

September 01, 2022 09:00 - 26 minutes - 24 MB

There is a lot of conflicting information about retirement and investing on the internet- so how do you know which options are the best for you? Being a good advisor isn’t about winning a popularity contest or just saying the same things everyone else in the industry says. It’s about giving the best advice that you can for each individual situation. On today’s show, we’re going to peel back the curtain to discuss some areas where a good financial advisor’s opinions might go against the g...

Ep 36: Should You Follow These Popular Retirement Rules of Thumb?

August 11, 2022 09:00 - 26 minutes - 24.7 MB

You’ve most likely heard plenty of “rules” you’re supposed to follow to retire successfully. Some of these rules are stated so confidently, you’d be crazy not to immediately accept them as fact. But we don’t mind the threat of being called crazy, so let’s dive into some of the most popular retirement “rules of thumb” to see if they truly lead us down the path of good financial guidance or run a chance of leading us astray. As you’ll hear us talk about on the show all the time, every indi...

Ep 35: Retirement Pop Quiz

July 07, 2022 09:00 - 23 minutes - 32.8 MB

Pop quiz time! Can you ace this retirement pop quiz or should you be studying a bit more? Don’t worry if you guess a few wrong either. Not all of these are “100%” right or wrong. At what age should you start saving for retirement? When you begin working After you buy your first home When you pay off all of your debt Which of these is the best estimate of how much income you’ll need in retirement? 50% of your current income 85% of your current income 100% of your current income ...

Ep 34: Investors Beware: Advisor Red Flags

June 09, 2022 09:00 - 27 minutes - 25.1 MB

In this volatile market, a lot of us are thinking about reaching out to an advisor if we haven’t worked with one previously. So, what red flags should we look out for when it comes to working with a financial professional? If your advisor doesn’t seem to be specialized in a certain age or part of retirement planning, they may be stretched too thin. Specialized advisors are able to focus more on your needs. If your advisor only tells you good things, you probably want to consider what they’...

Ep 33: The Most Important Birthdays in Retirement Planning

May 05, 2022 09:00 - 26 minutes - 24.6 MB

The older you get, the less you pay attention to the number beside your age, but there are actually quite a few things to look forward to in your 50s, 60s, and 70s. As you reach certain milestone ages, you have a planning opportunities open up and decisions that need to be made. You might be aware of a few of the ages we’ll discuss on this show and why they’re important, but we think there might be a few surprises as we go through the discussion today. What we discuss: 0:45 ...

Ep 32: Common Retiree Housing Questions

April 28, 2022 09:00 - 26 minutes - 24.3 MB

As you approach retirement, questions about your house will probably pop up. Should you think about downsizing, refinancing, and paying off the house completely? There’s a lot to consider about this large asset. So, today we are going to break down some of the most common retiree questions we get about housing. With interest rates still historically low should you be paying off your house as soon as possible or should you focus on paying the minimum? Some clients prefer one strategy over t...

Ep 31: Murky Issues in Retirement Planning

April 14, 2022 09:00 - 28 minutes - 26.5 MB

When it comes to retirement planning what murky issues could confuse or trip you up? On today’s episode, we’re going to break down a recent article that highlights a few murky issues pre-retirees and retirees face that make retirement planning a bit harder. The article mentions that Americans are confused about how much income is needed to offset inflation. If your planning doesn’t account for inflation, you’ll find yourself with significantly less buying power in the future. Once in retirem...

Ep 30: How Do Children Factor into Your Retirement Plan?

March 17, 2022 10:00 - 23 minutes - 21.6 MB

If you have kids or grandkids, you may be wondering how they fit into your retirement plan. What do you need to consider when it comes to your family? If you have kids later in life you may be facing college expenses as you get close to retirement. College is expensive, so you’ll want to consider your options and discuss the best strategy with your child. A lot of kids are coming out of school without strong job prospects, you may have to consider supporting them longer than you thought. Y...

Ep 29: Is Your Retirement Plan Out of Tune?

March 03, 2022 10:00 - 24 minutes - 22.9 MB

Did you play any instruments as a kid? Similar to how you’d check if your guitar or violin was in tune, it’s always a good idea to check in and make sure your retirement plan is still in tune. Are you considering future tax considerations? Most people realize taxes are going to go up in the future so it’s more important than ever to have a diversified tax strategy for your retirement accounts. Do you have the right amount of life insurance? This is an evolving part of your plan. You just c...

Ep 28: Minding the Financial Gap

February 17, 2022 10:00 - 24 minutes - 22.9 MB

If you’ve ever taken a subway or train you may have noticed the warning sign “mind the gap.” It’s a friendly reminder to watch where you are stepping and to take precautions. Similarly, you want to mind the gap in your retirement plan. There are gaps in retirement planning, but there are ways to plan and prepare for these blind spots. When you stop working you are no longer getting a steady paycheck, so how are you going to replace that income stream? On today’s episode, we are discussing ...

Ep 27: Mailbag – RMDs, Trading Options, and More

February 03, 2022 10:00 - 26 minutes - 24.6 MB

We are opening up the mailbag today to answer some listener questions. Should you take money from your IRA if you want to start a business? Well, this will depend on your age. If you are under 59 ½ there could be some hefty penalties. Should you put your future savings in a Roth or 401(k) if your employer offers both? Most people believe taxes are going to go up in the future. But you’ll need to sit down and find the correct balance for your situation. On today’s show, we’ll be discussing ...

Ep 26: Financial Mistakes Couples Make

January 24, 2022 10:00 - 22 minutes - 31.5 MB

Unfortunately, a lot of couples aren’t on the same page when it comes to their financial and retirement plans. Do you understand the spousal options on your pension? Are you and your spouse coordinating your Social Security? There’s a lot to strategize here. Maybe one of you will start collecting your benefits as soon as you retire and the other spouse will wait. It’s all going to depend on your situation, but the important thing is that both of you are involved in the planning process. On...

Ep 25: Advisors that Drop the Ball

December 16, 2021 10:00 - 24 minutes - 22.5 MB

Where can advisors drop the ball? While they may not mean to, sometimes advisors can overlook areas in our financial plan. On today's episode, we'll discuss 5 areas advisors may drop the ball and how you can make sure your plan is properly taken care of. If your advisor is not reviewing your tax returns you may want to have a discussion with them. They may not be a tax professional, but they can still learn valuable information from your returns. Similarly, if they aren't evaluating the fe...

Ep 24: Is Retirement as Easy as a Jigsaw Puzzle?

December 02, 2021 10:00 - 26 minutes - 24.4 MB

When you do a jigsaw puzzle with your family you probably start off with a strategy. You are going to look at the big picture, organize your pieces, and decide where to start. Approaching our retirement plan, in the same way, can be helpful. What is the big picture of the puzzle? What is the big picture in your retirement plan? The framework of the puzzle is like the framework of your plan, your income strategy. Maybe you also sort the pieces of the puzzle. In your plan, you'll want to sor...

Ep 23: 4 Unreasonable Requests for Your Advisor

November 18, 2021 09:00 - 24 minutes - 22.4 MB

We don't hear unreasonable requests very often, but it's still important to manage expectations. On today's episode, we will be discussing 4 requests either we have heard or other advisors have heard that are a bit too unreasonable to expect. We will be discussing risk, reducing fees, taxes, and the importance of being involved in the planning process. We want to be as transparent with you as we can. That way you know what to expect from an advisor and what kind of financial outcome is reaso...

Ep 22: Mailbag – Home Equity, Long-Term Care, and More

November 04, 2021 09:00 - 25 minutes - 23.5 MB

Have some questions about retirement? Let’s open up the mailbag and answer some of these questions. On today’s show, we will be going over 6 financial topics our listeners are curious about. Can you use a home equity line as an emergency fund? Long-term care coverage premiums are going up, should you keep your insurance? How often should you meet with an advisor? We’ll be covering these topics as well as what to do when you disagree with your spouse about retirement and the importance of ...

Ep 21: 5 Areas of Overconfidence in Financial Planning

October 21, 2021 09:00 - 22 minutes - 21.2 MB

Sometimes we can get overconfident in our financial planning. This type of overconfidence can create blind spots in our financial plan. On today’s episode, we are going to cover 5 areas people tend to become overconfident in when it comes to the financial world, so you can stay level-headed. We’ll talk about the stock market, dollar figure goals, rules of thumb, financial understanding, and decision-making. So, what can you do to mitigate the negative impacts of overconfidence? Meeting wit...

Ep 20: Is It Okay to Put These Financial Decisions Off?

October 07, 2021 09:00 - 22 minutes - 20.9 MB

It can be tempting to procrastinate and to figure things out later. But putting certain things off in our finances can really affect our retirement plan. On today's episode, we are going to discuss 5 things that people either want to wait on or have questions about putting off. Writing a will, paying off debt, cashing in on Social Security, are all things that we can technically wait to address later, but should we? What we discuss: 0:40 – Putting things off 1:51 – Deferring taxes...

Ep 19: 3 Red Flags to Consider in Your Retirement Plan

September 16, 2021 09:00 - 21 minutes - 20.4 MB

Today we are going to consider three red flags to watch out for in your retirement plan. There is a lot to keep track of when it comes to our finances so let's highlight three areas of importance. How often should we meet with our advisors? Is my retirement plan adaptable? We don't know what will happen in the future, but if we keep an eye out for these red flags we will be better prepared. What we discuss on this episode: 0:44 – Considering some red flags 1:17 – How often you mee...

Ep 18: Not Your Father’s Retirement

September 02, 2021 09:02 - 20 minutes - 19.5 MB

Every retiree will be facing a new set of challenges that their parents didn’t have to deal with, and that’s absolutely true today. The world is a much different place than it was 20-30 years ago when mom and dad walked away from their paycheck. Let’s look at the biggest adjustments that have to be made in planning and share how we’re helping people accomplish that. What we discuss on this episode: 1:52 – It’s okay to work past 65 8:05 – Retirement might be more expensive than whe...

Ep 17: Learning Through Uncommon Sense

August 19, 2021 09:00 - 27 minutes - 25.4 MB

At first glance, each of the statements we'll go through today seems like basic common sense that everyone would agree with. But when we look at the way people actually behave with their money, it would seem that common sense is a bit uncommon. Let’s discuss these strategies and why we often struggle to stick to them. What we discuss on this episode: 2:07 – Buy low, sell high 4:40 – Two real-life stories 12:18 – Keep costs low 17:01 – Not paying more in taxes than you have...

Ep 16: What You Need to Know About Annuities

August 05, 2021 09:00 - 22 minutes - 20.5 MB

Few things in the financial world are as polarizing as annuities, but when used correctly, they can be a great tool for a retirement plan. Let’s try to sort through the different annuity options and explain what’s to like and what’s to dislike about these sources of retirement income. What we discuss on this episode: 0:35 – Background on this topic 2:59 – First type of annuity 4:56 – Second type of annuity 7:20 – Third type of annuity 10:17 – Good news/bad news 11:08 –Reas...

Ep 15: Finding the Right Financial Advisor

July 15, 2021 09:00 - 18 minutes - 16.8 MB

Working with a financial advisor will be one of the most important professional relationships you'll have in life, but it can be hard figuring out who to trust your future with. Today we'll share the key skills and traits you should be looking for in an advisor along with some of the questions you need to ask. What we discuss on this episode: 0:42 - Why we are talking about this today. 1:41 - Chemistry 2:03 - Will you care enough to tell me the truth? 3:01 - Client story 5:54 ...

Ep 14: A 5 Question Retirement Preparedness Quiz

July 01, 2021 09:00 - 26 minutes - 23.9 MB

Want to grade your preparedness for retirement? Here are five key questions you need to ask yourself. Your answers will help determine how ready you are for retirement. What we discuss on this episode: 1:37 - Do you know how much you have? 2:54 - How much will you spend in retirement? 8:40 - Do you know how much risk you have? 13:34 - What fees are you paying? 19:50 - What do your retirement streams look like? Contact: If you have any questions, call 215-513-4330 ...

Ep 13: Do Retirees Really Need Life Insurance?

June 17, 2021 09:00 - 19 minutes - 18.2 MB

Ironically, life insurance is a young man’s game. The perception among many people is that your need for life insurance dramatically decreases and perhaps becomes completely unnecessary as you age. Is that really the case? On this episode, let’s explore some ins and outs of life insurance and its various uses. What we discuss on this episode: 1:29 - Why we're talking about life insurance 3:43 - Mark's background in life insurance 5:20 - The two issues facing retirees today 7:11...

Ep 12: Listening To The Money Doctor

June 03, 2021 09:01 - 15 minutes - 14.3 MB

If we take a look at the world of medicine, we can learn some valuable lessons that can be applied to your financial life. What we discuss on this episode: 0:42 - Setting up today's discussion 1:06 - Importance of periodic check-ups 3:30 - Sometimes you need a prescription 4:58 - Specialties 10:33 - Get a second opinion Contact: If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

Ep 11: The Status Of The American Pension Plan

May 20, 2021 09:00 - 26 minutes - 37 MB

Are pension plans truly disappearing across the country? Let’s take a look at the status of pension plans in America and how changes in that space impact you when planning for retirement. Contact: If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

Ep 10: Mailbag - Should We Be Concerned About Future Inflation Rates?

May 06, 2021 09:00 - 26 minutes - 23.8 MB

On this episode, we answer some email questions we have received from our listeners. We discuss leaving an entire 401(k) to a child, concerns about inflation rates potentially rising, grading a stock broker's performance, and much more. Contact: If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

Ep 9: Where Crisis & Opportunity Meet

April 29, 2021 09:00 - 21 minutes - 19.6 MB

To write the Chinese word for “crisis,” you combine elements of two different Chinese characters. One character means “danger” while the other one means “opportunity.” Translated into English, it means “opportunity riding on a dangerous wind.” Let’s discuss how some of these crises might actually be opportunities, depending on your situation and perspective. Contact: If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

Ep 8: This Is Why You Never Assume

April 15, 2021 15:05 - 22 minutes - 20.8 MB

We often see people making certain assumptions about retirement that just aren’t correct. Let’s explore some of those on today's show. Contact: If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

Ep 7: The Customer Isn't Always Right

March 18, 2021 14:57 - 35 minutes - 32.8 MB

In nearly all of the retail, restaurant and hospitality world, the old saying is that “the customer is always right.” But when it comes to financial planning, it’s probably not wise to subscribe to that idea. What’s the point of having a financial coach if your advice is better than your coach’s advice? Today we will discuss some statements we might hear from clients that might require a bit of push back because the customer isn’t always right. Contact: If you have any questions, call 21...

Ep 6: 401(k) FAQs

March 04, 2021 10:00 - 36 minutes - 33.4 MB

Misinformation certainly surrounds the financial world and it can be difficult to discern how certain investments actually work. So on today's show, Mark and Todd address some frequently asked questions that they get from clients regarding their 401Ks. Contact: If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/

Retirement Plain & Simple

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