Retirement Elevated Podcast with Sean Lee

Financial Lessons We Can Learn From Flying

Think about the last time you took a flight? You got from point a to point b as you planned, but did you stop to think about what it took to get you there? That’s the same with financial planning and reaching our final retirement destination. There are many lessons we can take away from flying and we’ll share those on this episode.
Today's rundown: 
0:22 – Baseball tryouts going on for Sean’s son.  
2:04 – Talking today about what flying teaches about retirement. First, you have to have a flight plan.
4:49 – Turbulence affects everyone differently much like volatility.
8:03 – The market continues to bounce back no matter how many times it gets knocked.
9:18 – Pilots can’t do it all alone. They need help from air traffic control.
Get the full show notes and additional resources by visiting our website here: https://retirementelevatedpodcast.com/podcast/financial-lessons-we-can-learn-from-flying/

Busting the Biggest Financial Myths

In the financial world, there are a lot of myths out there. Do you know what’s a myth (and what’s a bust) when it comes to these commonly held beliefs?
Today's show: 
2:48 - Myth or bust: Shifting from stocks to bonds removes the volatility from your portfolio.
4:55 - Myth or bust: Once you’ve retired, life insurance is no longer necessary.
7:14 - Myth or bust: You’re going to need less income when you retire than you need when you’re working.
8:40 - Myth or bust: You’ll be in a lower tax bracket when you retire.
10:17 - Myth or bust: Financial planning is easy to do without a professional thanks to the technology available.
Get the full show notes and additional resources here: https://retirementelevatedpodcast.com/podcast/busting-the-biggest-financial-myths/

Common Reasons People Stick the Wrong Financial Advisor

Picking the right financial advisor can be one of the most important decisions you make for your retirement, but many times we end up sticking with the wrong person. Many reasons cause can lead to this, but we often justify our decisions with a few common excuses. Let’s look at some of the common ones we hear from clients.
Check out the full show notes for this episode by clicking here. 

Developing the Right Financial Plan Takes These Steps

Financial planning can take on many forms and your interests might not always be the sole priority. When you work with an advisor, there are steps that every plan needs to include and we’ll discuss those in this episode.
Check out the full show notes by clicking here. 
Today's rundown:
1:46 – What happened to financial planning?
3:05 – Are expectations being set for you?
4:09 – Why pure planning is a more comprehensive and personal plan.  
5:38 – Every financial plan should have five components.
6:05 – Too many advisors are skipping over the most important part of planning.
6:33 – We’re always trying to come up with the proper tax strategy.
7:26 – Healthcare as part of the plan.
8:25 – True planning is as simple as a one-page plan.
9:33 – What clients have been prioritizing in their financial plan.

Navigating To Safety: How Your Financial Plan Is Like A Lighthouse

Lighthouses are strong, beautiful, and protective towers, just like your financial plan should be. To weather the storms and avoid the potential financial obstacles, we’ll share how financial plans are similar to lighthouses, guiding you to safety.
Don't miss the show notes, which you can find here.
Today's rundown: 
1:55 - Is there a financial lesson to learn from lighthouses?
2:59 - Your financial plan provides safety from obstacles and risk. 
3:39 - Tax planning is one of your biggest obstacles to look out for.
6:05 - Envision a storm’s coming while on a boat and you can’t see where you’re going, but off in the distance you see a lighthouse, a beacon of safety.
8:11 - It’s not the ships (your tools) that get you to the right place, it’s the lighthouse (clearly defined financial plan).

Fish Or Cut Bait – What To Do When You Get Stuck On Financial Decisions

For some people, the biggest problem with their financial planning isn’t that they make the wrong decisions but rather that they fail to make any decision at all. Other people, however, react instantly without giving it much though. Today we'll discuss a few areas that people usually hold people up in the financial decision-making process and then we'll give you ways to move forward.
To read more and to see the show notes, click here. 

8 Provisions From The SECURE Act of 2019

Maybe you’ve heard of it, but do you know how the SECURE Act could impact your retirement plans? Or what about the retirement options offered by your employer? Here are eight of the 29 provisions in the act to keep an eye on.
Full show notes: https://retirementelevatedpodcast.com/podcast/8-provisions-from-the-secure-act-of-2019/

Focus On What You Can Control

Ask yourself, as an investor, what can you control? Starting with acknowledging what you can and cannot control will help you make better decisions and worry less when it comes to your investments.
Full show notes post: https://retirementelevatedpodcast.com/podcast/focus-on-what-you-can-control/
Thing's You'll Learn Along Today's Journey
3:50 What can we control as investors?
The things you can control are how you act and how you plan. Use the plan to help keep you in check.
You also control your timeline in terms of when you will pull your money out of your accounts.
6:37 What about risk?
Sean shares with us some of the best ways to evaluate how much risk is appropriate for your situation
How much risk will you take? That’s something you can decide for yourself.
In order for plans to be successful, you have to commit to your goals.
8:31 Control your panic level
Every investment might need adjustments, but you don’t want to jump around without a strategy. You need room to wiggle in your plan so that you can adapt and evolve.
Look at the things you can control and alleviate the pressure on the things you cannot control. For instance, there’s a possibility that taxes can change in the future, but you can look forward and strategize.
 
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The True Value Of Working With A Financial Advisor

The View From The Pinnacle
Working with a financial advisor can bring incredible value to your portfolio. Looking at a recent Vanguard study, Sean talks us through what an advisor can do and how that helps you in the long run.
Check out the full show notes: https://wp.me/paeqsR-5n

Famous Last Words (You Don’t Want to Say About Retirement!)

“Hey, watch this!” is probably not the last phrase you want to utter in life. Likewise, let’s consider these phrases you often hear in the financial world that you don’t want to be saying in case something goes wrong. Talking through the good and bad will help prepare your mindset and your money for retirement. 
Click here for more in-depth exploration of this topic and a recent blog post: https://retirementelevatedpodcast.com/podcast/famous-last-words-you-dont-want-to-say-about-retirement/