Radio Show #17: Big Pitfalls In Retirement Planning Your Financial Compass Radio Show With Bulman Wealth Group podcast

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This week, we’re talking all about the intricacies of Roth accounts and conversions to help anyone looking for ways to optimize their retirement savings. Understanding the difference between traditional and Roth IRAs is crucial for effective tax planning and long-term financial security. We’ll discuss the powerful benefits of Roth conversions, the differences between traditional and Roth IRAs, and the implications for your financial future. Whether you're considering a Roth conversion or simply want to understand how to maximize your retirement savings, this show provides valuable insights and actionable steps. Here’s some of what we discuss in this episode: Should you convert a part of your traditional IRA or 401k into a Roth? All the differences between a Roth and the traditional post-tax accounts. How can a Roth conversion benefit clients and what should you consider first? Two ways to treat the taxes associated with Roth conversions. The five-year rule for Roths. WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #30: How to Have Those Tough Financial Conversations with Family 51:40

hace 12 weeks51:40

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We are entering the holiday season and your capacity for stress is probably pretty limited, but we’re going to potentially ramp it up a notch by talking about the difficult money conversations everyone should be having. We have seminars on this topic pretty often so we wanted to expand on that discussion during this week’s show. Here’s some of what we discuss in this episode: The guys share something good that’s non-financial about the holidays. Families approach financial conversations differently and we’ll share some examples. Why would parents want to start having this talk with their children? What’s the best way to approach these money conversations with children? Family conversations can spark harder conversations about money. How to approach estate planning with your family. WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #29: Year-End Financial Tune-Up - Don't Miss These 7 Steps! 51:40

hace 14 weeks51:40

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As the year draws to a close, it's the perfect time to reflect on your financial health and set the stage for a prosperous new year. In this week’s show, Chris and Scott share seven essential financial strategies to consider before year-end. Here’s are some of the things we discuss in this episode: Review your estate plan and make sure it’s still designed Shoring up your emergency fund is crucial. If you are 73 or older and you have money in a 401k or IRA, have you taken your RMD this year? Audit your subscriptions and cancel what you aren’t using. Max out your retirement contributions if you can. WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #28: Debunking Six Money Myths 51:40

hace 16 weeks51:40

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This week’s episode is all about busting some common myths that we hear and read about. A recent article from Fidelity spared the idea and Scott and Shawn are going to debunk six money myths. We’re covering things like income planning, healthcare, legacy planning and more. Here’s some of what we discuss in this episode: Myth number 1: It’s not worth saving if I can only save a small amount. Myth number 2: The stock market is too risky for my retirement money. Myth number 3: I’m young so I don’t need to save for retirement. Myth number 4: There’s no way of knowing how much money I’ll need in retirement. Myth number 5: All debt is bad. Myth number 6: Credit cards should be avoided. WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #27: Finding Opportunities For Improvement 51:40

hace 17 weeks51:40

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All too often, investors get hung up on the mistakes they’ve made instead of moving forward and thinking about what they need to do next. This week’s show is all about finding opportunities for improvement when mistakes are made so you’re optimizing your financial strategies in the future. From income planning to understanding your risk number, they provide great insights to improve their financial health and achieve their long-term goals. Here’s some of what we discuss in this episode: How we help our clients organize and structure their finances and investments. Why you should be investing for income. Educating clients on the case for growth. How some younger investors are perhaps too conservative in their investments. Navigating withdrawals as we enter retirement. How advisors can serve as intermediaries when discussing family finances. WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #26: Reasons to Be Optimistic About the Economy 51:40

hace 18 weeks51:40

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It seems like all the news is doom and gloom these days, and the US economy often falls into that bucket of negativity. People are often looking at worst-case scenarios and playing on the fear that drives them to react. The sky always seems to be falling. It’s time to reverse that trend on this week’s show. There are plenty of reasons to be optimistic about both the economy and even the world at large. It’s important to have a full picture of what’s going on, and in this episode, Shawn and Scott will go through reasons to have a little bit more optimism. Here’s some of what we discuss in this episode: How we convey optimism and hope to our clients. While Social Security may not be what it used to be, part of that is because we are living longer, happier lives. How we can use modern technology to best serve our clients. Tax rates are actually historically low. When recessions do happen, they generally do not last that long. The global extreme poverty rate is significantly down. WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #25: Addressing the 7 Different Types of Risk 51:40

hace 19 weeks51:40

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When people think of their money and working with a financial advisor, the primary risk that comes to mind is the stock market and volatility. That’s obviously the biggest and the most talked about, but there are many more risks to your retirement that don’t always get the attention they deserve. This week’s show will highlight seven risks we must address with planning: market, liquidity, concentration, reinvestment, inflation, horizon, and opportunity loss. Here’s some of what we discuss in this episode: The role of financial advisors as risk managers. How market volatility risk might play a factor for folks getting closer to retirement. How we help our clients understand their risk tolerance and how it relates to their current portfolio. Defining different types of risk and how they affect you financially. WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #24: The Market Dropped – Now What? 51:40

hace 20 weeks51:40

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In this week’s show, Scott and Shawn discuss the intricacies of market drops, explaining what they mean and how you can prepare for them. They discuss various market events such as corrections, bear markets, recessions, and depressions, breaking down what each term means and how often these events occur. Here’s some of what we discuss in this episode: Key definitions when it comes to market cycles. The origins of the terms bear market and bull market. How do we forecast and predict future markets? How we help our clients manage their emotions when it comes to investing. Understanding your risk tolerance and the risk level of your portfolio. WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #23: Key Dates And Ages For Retirement 51:40

hace 21 weeks51:40

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As we journey through life, each decade brings its own set of financial challenges and opportunities. Even though retirement planning is best when it’s customized to the individual, there are milestone dates and ages that everyone needs to pay attention to. This week’s show is all about those key ages and why they’re so important for planning. Here’s some of what we discuss in this episode: Strategies to save more, both before and after you turn 50. What does being 59.5 or older have to do with accessing retirement funds? The key ages around Social Security and strategies for deciding when to claim. When you have access to Medicare and making sure that you get enrolled in it at the right time to avoid a penalty. Planning around Required Minimum Distributions and the rules surrounding them. WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #22: The Four Major Fears of Retirement 51:40

hace 22 weeks51:40

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Retirement should be a time of relaxation and enjoyment, but for many, it brings a host of financial fears. In this week’s show, Scott and Shawn will walk through the four biggest fears people have in retirement by explaining what they are, what they mean, and how we can help address them. Here’s some of what we discuss in this episode: The fear of outliving your money in retirement. Concerns with inflation and high interest rates and how they could impact your retirement. What are black swan events in the stock market and how can we be prepared for them? Demystifying the relationship between the stock market and daily life. Why you should consider setting up a trust. WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #21: The Three Phases of Retirement 51:40

hace 23 weeks51:40

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Retirement is not a one-size-fits-all experience. It evolves through different phases, each with its own set of challenges and opportunities. In this week’s show, Scott and Shawn discuss the three distinct phases of retirement: go-go, slow-go, and no-go. Find out why each phase matters for planning and how to manage your finances as you move through retirement. Here’s some of what we discuss in this episode: Planning for longevity in your retirement. The five key areas of retirement planning. How your relationship with risk in your portfolio changes as you approach retirement. When should you consider Roth conversions? How your financial needs can change as you move through the three different phases of retirement. WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #20: Cleaning Out The Financial Garage 51:40

hace 24 weeks51:40

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Scott is joined this week by Shawn McElmoyl to break down how to clean out and organize the financial garage in your home. They discuss why so many of us accumulate financial clutter and how it affects our financial health and peace of mind. Plus, we’ll provide steps to help declutter, organize, and optimize your financial assets. Here’s some of what we discuss in this episode: Consolidating old accounts into one place to have peace of mind and more options. Understanding why you should or why you shouldn’t be invested in certain accounts. The value in rebalancing your portfolio. How getting your finances in order can help your family out down the line. Once that financial garage is cleaned out, how do you maintain that organization? WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #19: Looks Can Be Deceiving 51:40

hace 25 weeks51:40

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The old tale of the tortoise and the hare teaches us that looks can often be deceiving, but how does that lesson apply to the world of finance and financial planning? In an era where influencers on social media get loads of attention for looking the part, ultimately you still have to put in the work to achieve your financial goals. Here’s some of what we discuss in this episode: The impacts of financial influencers on social media. Becoming a millionaire “the boring way.” Avoiding silly financial mistakes. Instilling good financial habits in your children. How planning can give you the financial freedom you need to retire on your timeline. WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #18: The Role of a Financial Advisor 51:40

hace 26 weeks51:40

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There are often misconceptions when it comes to financial advising, but knowing the role of an advisor and how to find one that fits you will help ease many of the questions or concerns people might have. In this week’s show, Chris and Scott share insights on common misconceptions about financial advisors, the importance of trust, and lessons learned from the financial mistakes of celebrities and athletes. Here’s some of what we discuss in this episode: Some common misconceptions that people have when they’re looking for a financial advisor. How to handle people coming out of the woodwork when you gain large amounts of wealth. The difference between an independent financial advisory firm and a big box corporation. Stories about people who have received bad financial advice. Tax considerations when estate planning. WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com . You can also reach the team by phone at (916) 458-8199.…

Your Financial Compass Radio Show with Bulman Wealth Group

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Radio Show #17: Big Pitfalls in Retirement Planning 51:40

hace 27 weeks51:40