The Retirement Show: Your Life, Your Money with Scott Sierens Scott Sierens

Navigating Social Security can feel confusing. With a sea of information out there it’s hard to discern what’s fact and fiction. In this episode, Scott addresses five common statements about Social Security and breaks down whether they’re true or false.
 
Here’s some of what we discuss in this episode:
0:00 – Intro
1:04 – Average retirement spending for 65-year-old
7:47 – Social Security taxes
13:39 – Taking Social Security when you retire
18:05 – Keeping all Social Security benefits when a spouse passes
20:30 – Penalties for working and taking Social Security
24:29– Collecting Social Security at 70 vs 62
 
Article – Retirement Planning:  How Much the Average 65-year-old Retiree Spends Monthly
https://www.nasdaq.com/articles/retirement-planning%3A-how-much-the-average-65-year-old-retiree-spends-monthly
 
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 
 

Many of us have experiences that we regret. How can we avoid these feelings in our retirement years? In today’s episode, Scott shares common retiree regrets and practical strategies to sidestep them.
 
Here’s some of what we discuss in this episode:
0:00 – Intro
7:13 – Waiting too long to retire
9:01 – Not having goals and a purpose in retirement
13:06 – Losing touch with family
15:16 – Not enjoying more while you’re younger
21:20 – Not taking your health seriously earlier in life
23:39 – Not planning for long-term care
26:11 – Listener question about spending in retirement
 
7 Biggest Regrets of Retirees
https://finance.yahoo.com/news/7-biggest-regrets-people-retirement-120010632.html
 
10 Retirees Share Their Biggest Regrets
US News Article:  https://money.usnews.com/money/retirement/baby-boomers/slideshows/10-retirees-share-their-biggest-regrets
 
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 
 

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 

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 

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 

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