The Retirement Show: Your Life, Your Money with Scott Sierens Scott Sierens
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A top retirement podcast dedicated to helping you: Reduce Taxes | Make Work Optional | Maximize Retirement Income | Invest Confidently | Optimize Stock Compensation | Help Future Generations
Scott Sierens, financial advisor at Sierens Financial Group, will provide thoughts, strategies, and ideas on each episode to help you thrive in life, wealth and retirement. The goal is to take complex financial subjects and make them simple and easy to understand so you can feel confident to take action, enjoy life, and eliminate financial stress and anxiety.
Scott, along with guests from across various industries, will cover topics such as tax savings strategies, investments and wealth management, IRAs, 401(k)s, retirement planning, retirement income strategies, pensions, estate planning, social security, healthcare, and much more.
Retirement isn't an age or number. It's finding the balance between living life today and feeling financially confident about YOUR tomorrow.
Ask Scott your questions by calling 847-235-6989 or check out our podcast website at https://lifemoneyshow.com for more resources.
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Market Risks, Generational Wealth & Happiness in Retirement
In this episode, Scott is going to share some of the wisdom he gained from AE Wealth Management’s Wealth Elite Symposium he recently attended in Nashville, Tennessee. This event featured esteemed speakers from Schwab, former writers for the Wall Street Journal, experts from Fidelity, and more. Listen in as Scott shares his takeaways on market risk, recessions, interest rates, generational wealth, and happiness in retirement.
Here’s some of what we discuss in this episode:
0:00 - Intro
3:23 - Market risks, recessions, and the unpredictability of economic events
10:41 - Having an investment strategy that aligns with your timeline, tolerance, and income plan
12:48 - The impact of Fed interest rates on the market + accounting for inflation in your retirement plan
17:56 - How the potential decline in interest rates affects online savings accounts
20:48 - Items to keep in mind during this election year
23:30 - Normalizing conversations around wealth + being transparent with your beneficiaries
31:31 - Bringing happiness into your morning routine
Want to get in touch?
Web: https://sierensfinancialgroup.com/
Email: office@sierensfinancialgroup.com
Phone: 847-235-6989
Read more and get additional financial resources here: http://lifemoneyshow.com
Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ -
Market Highs, Elevated Interest Rates & Your Retirement
In today’s financial landscape, the market has been hitting new highs and interest rates remain at elevated levels. You might have even heard some of the buzz surrounding the Federal Reserve and interest rate adjustments. We’re here to bring some clarity to the question on many investors’ minds: What does all of this mean for my investments and retirement plans? Is all of this exciting or cause for concern?
Here’s some of what we discuss in this episode:
0:00 – Intro
3:20 – Understanding S&P 500 + Recent Market Highs
7:36 – Impact of Economic Indicators on Market Performance
9:56 – Analyzing Historical Returns + Being Cautious of Market Noise
15:12 – Market Performance Impact on Your Retirement
19:40 – Understanding the Federal Funds Rate
25:18 – Interest Rates Impact on Your Retirement
32:06 – Listener Question: Financial Indecision
Resources for this episode:
JP Morgan Chart – Investing during all time highs
https://www.jpmorgan.com/content/dam/jpm/securities/documents/cwm-documents/Is-it-worth-considering-investing-at-all-time-highs.pdf
Additional Information
https://awealthofcommonsense.com/2024/01/new-all-time-highs-after-a-bear-market/
https://ofdollarsanddata.com/should-you-invest-in-stocks-at-all-time-highs/
Interest Rates
USA Today Article - https://www.usatoday.com/story/money/2024/01/31/january-federal-reserve-meeting-live-updates/72409059007/
Nasdaq.com article - https://www.nasdaq.com/articles/wall-street-banks-readjusts-2024-interest-rate-predictions-after-feds-dovish-turn
Bankrate – Biggest Winners & Losers - https://www.bankrate.com/banking/federal-reserve/fed-interest-rate-decision-biggest-winners/
https://www.investopedia.com/terms/f/federalfundsrate.asp
Want to get in touch?
Web: https://sierensfinancialgroup.com/
Email: office@sierensfinancialgroup.com
Phone: 847-235-6989
Read more and get additional financial resources here: http://lifemoneyshow.com
Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ -
The Retirement Hazard Zone
In today’s episode, we’re going to discuss the retirement hazard zone. This is the 10 years leading up to retirement and the first decade of retirement itself. Listen in Scott compares this period to driving through a construction zone, focusing on the need to slow down, think differently, and be prepared for the unexpected.
Before we jump in, Scott will discuss the top 5 financial scams targeting retirees and pre-retirees and share some essential tips to help you avoid financial fraud.
Here’s some of what we discuss in this episode:
0:00 – Intro
0:58 – Scams targeting older adults + prevention
14:50 – Thinking differently in retirement
19:00 – Preparing for the unexpected
21:56 – Slowing down
25:39 – Listener question on Social Security
NCOA Article on Scams
https://www.ncoa.org/article/top-5-financial-scams-targeting-older-adults
Want to get in touch?
Web: https://sierensfinancialgroup.com/
Email: office@sierensfinancialgroup.com
Phone: 847-235-6989
Read more and get additional financial resources here: http://lifemoneyshow.com
Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ -
Max out your 401k for Retirement First? Or, Consider Other Investment Options First?
Are you considering maxing out your 401(k) but unsure what to do next? We face this question all the time at the Sierens Financial Group so today we’ll explore if it’s wise to max out your 401(k) before investing anywhere else.
Here’s some of what we discuss in this episode:
0:00 – Intro
2:44 – What’s on today’s show
4:33 – What’s in the news right now? Spot Bitcoin was just approved by the SEC.
8:40 – What should you know about Spot Bitcoin?
10:50 – An 85-year study from Harvard reveals the one simple element that is the key to happiness.
14:26 – Should you max out your 401(k) first, or consider other options before contributing the max?
16:13 – Reasons you might want to max out your 401(k).
19:23 – Reasons you might NOT want to max out your 401(k).
23:08 – Exploring your options and how taxes play a role.
27:00 – Jacob’s question: Should you start Social Security at 67 if you’re still working?
References for this episode:
https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023 https://scoop.upworthy.com/harvards-85-year-study-reveals-the-number-one-key-to-happiness?utm_source=flipboard&utm_content=topic/personalfinance
Want to get in touch?
Web: https://sierensfinancialgroup.com/
Email: office@sierensfinancialgroup.com
Phone: 847-235-6989
Read more and get additional financial resources here: http://lifemoneyshow.com
Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ -
2024 Tax/Retirement Changes & Strategies
In today’s show, we’re going to share some crucial changes and strategies that will help you navigate your financial landscape in 2024. Scott will break down the latest adjustments you need to be aware of, from increased standard deductions to updates in Social Security and Medicare. We’ll also share some strategic tips and tactics to position your tax and retirement plans for success in the coming year.
Here’s some of what we discuss in this episode:
0:00 – Intro
3:52 – What’s new in 2024?
12:01 – Is your money in the right bucket?
16:30 - Starting HSA contributions
17:34 – Reviewing your investments
19:45 - Considering QCDs
20:35 - Reevaluating tax withholdings
22:32 - Automation
24:31 - Get a plan in place
Want to get in touch?
Web: https://sierensfinancialgroup.com/
Email: office@sierensfinancialgroup.com
Phone: 847-235-6989
Read more and get additional financial resources here: http://lifemoneyshow.com
Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ
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Tax Loss and Tax Gain Harvesting, Roth 401K Rules, Federal and State Tax Withholdings - Mailbag
We’re sharing this month’s mailbag episode a bit early, but we have 3 great listener questions lined up for today’s show! Miyuki asks if Scott can explain more about tax harvesting and how to take advantage of a stock loss. Lauren asks about the tax consequences of withdrawing from the Roth side of her 401(k) after 2023. Click play to see what you can learn!
Here are the questions we discuss in this episode:
Can you explain more about tax harvesting? I sold two individual stocks last month. Both are a loss, but I don’t know how I can take advantage of this loss. I was just laid off. I am past full retirement age and the Roth side of my 401k hits 5 years on the 1st of 2024. Can I withdrawal from the Roth 401K side without tax consequences after 2023? The 401k plan has pre-tax and post-tax (Roth). Is withholding required on post-tax Roth 401k money?
Want to get in touch?
Web: https://sierensfinancialgroup.com/
Email: office@sierensfinancialgroup.com
Phone: 847-235-6989
Read more and get additional financial resources here: http://lifemoneyshow.com
Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ
Customer Reviews
Good stuff!
I’ve enjoyed listening to Scott. Very good content for those looking to retire. Solid content with practical application.