Retirement Elevated Podcast with Sean Lee

What You Need To Know About Secure Act 2.0

The Secure Act 2.0 was recently passed, so we talk about some of the key takeaways that might impact your financial plan on today’s episode. Some changes are for the better and some changes might take some time to get used to. Which of these might benefit your financial plan the most? Listen to find out.
 
Here’s what you'll learn about on today’s show:
The RMD age was pushed back. (1:53)
How does this change with a Roth 401(k)? (4:02)
Automatic enrollment is being implemented. (7:27)
Student loan debt payments can be matched. (9:23)
Changes to 529 plans. (11:43)
Company matches can be in a Roth account. (13:55)
 
Get in touch with Sean and the team at https://retirementelevatedpodcast.com/ 

100th Episode Special with a Surprise Guest

In honor of our 100th episode, we have a special guest on the show! Sean’s son, Michael, joins us and shares about his experience having his dad as a coach. From exercises to tournaments, there’s a lot that goes into it.
While Sean coaches Michael in baseball, he also coaches several people throughout the week when it comes to retirement. Do you need a coach when it comes to retirement planning?
Here’s what Michael shares in today’s show:
What kind of drills do they work in at baseball? (1:40)
Sean shares about his two favorite things to talk about. (4:10)
What does Michael like? (4:29)
Where does Michael want to go to college? (5:36)
What’s Michael’s favorite baseball team? (6:13)
 
Get in touch with Sean and the team at https://retirementelevatedpodcast.com/ 

The Desire to Retire

Some people dream about retiring and it can’t come soon enough. For others, maybe it’s something they are putting off. We talk through the varying degrees of interest and readiness in retirement and how to plan accordingly.
Here are the reasons you wonder about getting a new advisor:
I love what I do. (1:30)
I could retire, but my job is still a good situation. (3:37)
I have no idea if I can retire or not. (5:46)
Retirement should be soon. (8:04)
I hate my job and can’t wait to get out. (9:49)
Get additional financial resources online:
https://retirementelevatedpodcast.com/ 

When the Grass Looks Greener with Another Advisor

As the saying goes, the grass is always greener on the other side. When is the grass greener with another financial advisor? We talk about a number of reasons someone might consider looking at leaving their current advisor for another one. Sean shares why some of these reasons might be worthwhile and why some of these reasons don’t have to be dealbreakers.
Here are the reasons you wonder about getting a new advisor:
Making a mistake that costs you money. (1:28)
The business has gotten too big. (4:09)
A dinner seminar has some appeal. (6:47)
I’m moving across the country. (9:48)
The market has been volatile. (13:35)
Get additional financial resources online:
https://retirementelevatedpodcast.com/ 

Things to Be Thankful For

In honor of Thanksgiving, we share some of what we’re thankful for and what we look forward to with the holidays. When it comes to working with a financial advisor, what is there to be thankful for? We discuss five reasons you might be thankful for your advisor (and what to do if this doesn’t describe your relationship with an advisor). 
 
Reasons to be thankful for the financial advisor in your life:
For providing a comprehensive plan to build and protect your wealth. (2:28)
Finding clarity and good expectations in the relationship. (4:56)
Working with a fiduciary. (6:36)
Having a trustworthy advisor. (9:02)
Being able to have conversations and regular communication (11:11)
Get additional financial resources online:
https://retirementelevatedpodcast.com/ 

3 Biggest Financial Assets

What are your three biggest assets when it comes to saving for your retirement and your future? For most people, this is your 401(k), your house, and Social Security. We talk today about how to best leverage these assets and manage them properly. It can make all the difference in retirement.
Timestamps:
What kind of strategy went into picking the fund for your 401(k)? (1:23)
What happens with that 401(k) when you’re ready to retire? (2:42)
Is your home an asset you’ll want to use later? (4:31)
Social Security is much bigger than you realize. (7:41)
 
Get additional financial resources online:
https://retirementelevatedpodcast.com/ 

Understanding Media Bias

When it comes to the media, sensational headlines sell, but they might cause you to panic with your finances. Are the angst and fear around the markets or interest rates logical or a little overdramatic? We talk about how to know if the advice and information is a helpful resource to follow.
Timestamps:
Don’t make knee-jerk reactions to short-term issues. (2:04)
Recognize which stories are real and which ones are paid advertisements. (4:43)
Determine whether you are the intended audience or not. (6:48)
Find the person who is the right fit for you. (11:17)
 
Get additional financial resources online:
https://retirementelevatedpodcast.com/ 

Don’t Screw It Up

When it comes to your investments and your financial plan, the last thing you want to do is mess it up. We talk through a few ways this can happen and how to avoid them.
 
Timestamps:
0:51 - Don’t make any sudden decisions.
5:02 - Don’t jump into investments you don’t understand.
8:07 - Work with a professional.
9:36 - The plan is more than the investment.
11:22 - Do you want to DIY?
 
Get additional financial resources online:
https://retirementelevatedpodcast.com/ 

What Popular Fables Reveal About Our Personal Finances

On Today's Episode:
What can we learn from Aesop’s fables when it comes to gaining financial wisdom? Sean shares how each of these fables relate to our own financial decisions.
 
Timestamps:
0:28 - Time for back to school!
1:52 - What can we learn from the miser and his gold?
6:38 - The tortoise and the hare shows us that slow and steady wins the race.
10:29 - What about the dog and his shadow? 
 
More About Today's Episode: 
There are a few fables that teach us about life and money. Today, we’ll go through some fables and find out what they teach us financially.
In the miser and his gold, a miser digs up his gold to look at it but then it got stolen. Instead of using it, he would only look. Wealth not realized and used isn’t wealth. While we might be programmed to save and accumulate, don’t forget to use it. Sometimes Sean has to convince clients to spend their money. Having financial safety and security is good, but learn how you can use that money to your advantage while you’re still around.
The tortoise and the hare is a well-known story of the overconfident hare who doesn’t plan ahead while the slow and steady tortoise comes out ahead. Rushing to make money quick isn’t the answer you want. The slow and steady approach to accumulating wealth is often what works best. Building consistent habits over time will lead to financial success.
Lastly, the dog and the shadow is about a dog with a piece of meat walking home. When crossing a stream, the dog sees its reflection and tries to grab the piece of meat in the reflection and ends up losing the meat in his mouth. In the financial world, if you don’t have a clear plan, you might try to jump towards something else too soon.
 
Get additional financial resources online:
https://retirementelevatedpodcast.com/ 

Let’s Play Financial Jeopardy

When we’re not outside playing baseball, it’s fun to play a few games that challenge our minds. Trivia TV show Jeopardy inspired today’s podcast as we quiz Sean on a financial round of questions.
 
Key topics on this episode: 
0:39 - Ready to play Jeopardy?
1:55 - High fees and broken promises with market risk.  
3:25 - What requires a financial professional to put the client’s interests first?
5:01 - What financial phenomenon always returns?
7:39 - This forces retirees to drain their retirement accounts.
10:17 - What defined benefit retirement program is becoming scarce?
 
Get additional financial resources online: https://retirementelevatedpodcast.com/