Retirement Elevated Podcast with Sean Lee

Being Proactive With Your Financial Plan During a Pandemic

Coronavirus has caused the markets to correct. It’s also caused a lot of fear. What should you do? Let's talk about taking a proactive approach to your finances during this turbulent time. 
 
Read more and get additional resources: https://wp.me/paeqsR-9a 
 
Today's rundown: 
0:46 - What kind of opportunity is there in the market?
2:55 - What fundamental issues do not change when it comes to planning?
4:29 - Have a stress-test done. Are you prepared?
7:03 - Take action!
8:28 - There’s volatility in the market, but also good buying opportunities.

Coronavirus Update: State of Business

We’ve all been impacted by the coronavirus in one way or another. How has Sean’s team responded and what can you do with your financial plan? 
 
Read more and get additional resources here: https://wp.me/paeqsR-92 
 
Today's rundown: 
0:43 - What’s the latest in current events between coronavirus and an earthquake?
3:45 - What are the main worries people are experiencing now?
6:06 - This is an action-based correction. This is a great time to buy.
7:01 - What’s happened has happened, but think about being proactive now.

Financial Truths (In a World Full of Financial Fear)

What kind of financial truths can you depend on? Where have you fallen for some of the fear or myths floating around in the financial world? With so much uncertainty in the market right now, let's discuss the truths you can build your plan on. 
 
Read more and get additional resources: https://wp.me/paeqsR-8V 
 
Today's rundown: 
1:57 - Is the media our biggest enemy when it comes to finances?
6:32 - Emotions are rarely your friend when making financial decisions.
8:21 - The market will always move.
10:17 - Are you actually risk tolerant?
12:36 - There is no magic bullet for your financial plan.

Market Update: Coronavirus and Its Impact

Should you get caught up in the fear and uncertainty when it comes to the Coronavirus? What kind of impact could it have on you and your financial plan? Let’s discuss the biggest international story in early 2020.
 
Read more on the topic and get additional resources here: https://retirementelevatedpodcast.com/podcast/market-update-coronavirus-and-its-impact/ 
 
Today's show rundown: 
0:48 - The biggest factor impacting the market right now is the coronavirus.
1:51 - The average flu kills thousands each year.
3:24 - Should you sell off your investments?
6:35 - A large percentage of products come from China and production has slowed.
7:12 - How does this impact your financial plan?
8:06 - What kind of perspective should you have regarding a market drop?

Are You an Emotional Investor?

Keeping emotions separate from your financial decisions should be everyone’s goal but is it easier said than done? Let’s take a look at the most common forces driving those decisions and how it can impact your retirement plan.
 
Show notes and additional resources: https://retirementelevatedpodcast.com/podcast/are-you-an-emotional-investor/ 
 
Today's rundown: 
1:16 – We’re talking emotions and decision-making on the podcast today.
1:39 – What kind of emotions typically drive financial decisions? Is fear and greed the main ones?
2:27 – We want to help you take a logical process to make decisions based on facts.
3:03 – Marc’s brother has been reacting a lot to the market movement recently. Is that something Sean has been seeing from clients as well?
6:20 – When the market drops, your dividends essentially are bargain shopping.
7:02 – Are there any times where it’s appropriate to factor in emotions?

Will These News Headlines Matter for Your Finances in 2020?

No matter where you get your news, a few different storylines continue to dominate the headlines when it comes to finances in 2020. Let’s discuss three of the biggest topics of conversation this year and try to help you determine whether or not it matters for your retirement plan.
 
Show notes and additional resources: https://wp.me/paeqsR-8q 
 
Today's rundown: 
0:58 – Our main topic today is ‘Does it Matter?’
1:21 – 1st storyline: The 2020 presidential election. How much will this matter for investors?
3:56 – Historically, the market doesn’t have a significant reaction to the election. Are we in different times now?
6:05 – 2nd Storyline: The health insurance marketplace.
7:23 – What are the options for people that retire before the age of 65?
8:46 – 3rd Storyline: Social Security and the uncertainty.  
12:12 – People often keep Social Security separate from their plan but it should all be a part of your retirement plan.

Taking Out the Financial Trash

When was the last time you looked through your financial portfolio and got rid of the things you no longer need? As you move closer to retirement, your strategies will change and adjustments need to follow. So let’s look at four areas that you might considering trashing from your portfolio.
 
Show Notes and Additional Resources: https://retirementelevatedpodcast.com/podcast/taking-out-the-trash-from-your-portfolio/ 
 
Today's Rundown: 
1:02 – What do we mean by taking out the trash?
1:23 – Debt is the first thing to get rid of.
3:03 – Reducing risk is a good idea as you approach retirement.
4:52 – ‘Lazy money’ – this money isn’t doing much for you so move it to a place that will
7:13 – Getting rid of someone that’s not working for you and looking out more for their own pocket.

Do You Know What Fees and Commissions You’re Paying?

Have you ever wondered why some advisors get paid in fees while others take commissions from your investments? Today we’ll explain the difference, what you should consider, and why your portfolio expenses are probably higher than you realize.
 
Show notes and additional resources: https://retirementelevatedpodcast.com/podcast/do-you-know-what-fees-and-commissions-youre-paying/ 
 
Today's rundown: 
0:28 – So what are the differences between fees and commissions?
0:58 – There are two types of fees when working with a fiduciary.
2:20 – Outside of advisor fees, what are some of the other costs?
3:59 – Sean’s opinion on fees.
6:08 – A larger percentage of people than not are paying more in portfolio costs than they realize.

What You Need to Know About the SECURE Act

Americans will be getting the most significant retirement legislation in more than a decade after Congress passed the SECURE Act near the end of 2019. Let’s talk about the biggest changes you need to be aware of, how this can benefit you, and where there might be some concerns.
 
Show Notes and Additional Resources: https://retirementelevatedpodcast.com/podcast/what-you-need-to-know-about-the-secure-act/ 
 
Today's Rundown: 
0:12 – Let’s start with what the SECURE Act is.  
1:40 – Some big changes coming to the Required Minimum Distribution rules.  
3:29 – The Stretch IRA changes could be seen as a negative.  
6:38 – Is 2020 a lost year for RMDs?  
8:39 – What affect does this legislation have on small businesses?
11:22 – There will be increased annuity options within retirement plans. Is that good or bad?
14:20 – Removal of age limitations on IRA contributions.

Finding The Silver Linings In Forced Retirement Situations

Maybe you are experiencing some more unfortunate situations lately when it comes to retirement. Is there a positive spin you can put on it?
 
Show Notes: https://retirementelevatedpodcast.com/podcast/finding-the-silver-linings-in-forced-retirement-situations/ 
 
Today's Rundown: 
0:37 - You are being pushed into an early retirement.
1:34 - What to do with a severance package.
2:45 - A forced retirement may push you to find clarity.
3:24 - Sean shares a client example of someone who was able to map out an early retirement plan.
6:01 - What to do when you get the lump sum buyout instead of a pension plan.
7:32 - Two things to consider with a lump sum.