All Things Retirement

Countdown Clarity: Timing Your Retirement Preparations

Whether you’re close to retirement or still far from that exciting date, it’s not uncommon to wonder when you should start preparing for each aspect of it.
From figuring out the right time to be debt-free and when to adjust your portfolio risk, to deciding when to plan for your Social Security benefits or healthcare coverage, this episode guides you through the ideal timeline for each.
Tune in to find out how far away from retirement you should have answers to these pressing questions.
 
Here’s some of what we’ll discuss in this episode:
When do you need to get your debt paid off? (3:00)
If you feel like you’re falling behind with savings, how do you figure out what you need to do to catch up? (6:23)
When should you worry about structuring your income plan for retirement? (10:06)
Does your risk align with your age? (14:58)
When do you need to start planning for rising taxes? (18:33)
 
Visit us online: https://cardinalwg.com/
Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Effective Communication Between Advisor and Client

The key to any relationship is good communication and it’s no different for a financial advisor and their client. Everything we do relies on being able to effectively convey information and clearly lay out a plan that everyone understands.
 
To celebrate June being effective communication month, we wanted to talk about our process for communicating with clients and how that’s changed since we first got into the financial profession more than 15 years ago. With more and more people moving to virtual communication, it changes our approach and we’ll tell you how we try to meet people where they’re most comfortable.
 
Here’s some of what we’ll discuss in this episode:
How important communication is for what we do every day. (3:46)
How much communication has changed over the past 15 years. (5:18)
The way we present complex topics to clients in a way they can understand. (10:33)
What type of communication types do we rely on the most? (8:52)
How much communication should you expect from your advisor? (16:09)
 
Visit us online: https://cardinalwg.com/
Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Ep 56: France Moves Retirement Age to 64 - What Does This Mean for Us?

Many people have heard about protests in France and that it’s related to raising the retirement age. But not many folks have a lot of context on the issue beyond that. With their retirement age moving from 62 to 64, what might that mean for Americans in the future?
 
Here’s some of what we’ll discuss in this episode:
The racoon issue Anthony has been dealing with at home. (1:02)
Some background on what’s happening in France. (3:29)
Declining birth rates one of the reasons why the math isn’t working like it used to. (5:33)
How will Americans react to a change in retirement age?  (8:52)
What can clients do to plan for possible changes to Social Security? (11:29)
Mailbag question on cutting off children financially. (15:44)
 
Visit us online: https://cardinalwg.com/
Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Ep 55: How Age And Wisdom Impact Financial Planning

Today, we're diving into a topic that affects everyone, regardless of age or financial status: how age and wisdom impact financial planning. No matter where you are in life, your financial goals and priorities will change over time, and it's important to have a plan that reflects your unique needs. In this episode, we'll explore the ways in which age and wisdom impact financial planning strategies and provide practical tips and insights to help you make informed decisions about your finances.
 
Here’s some of what we’ll discuss in this episode:
Why does age matter in financial planning? (3:36)
The importance of incorporating lessons and experiences into financial planning. (6:59)
How Anthony personalizes experiences for each client. (11:30)
The emotions that Anthony has witnessed throughout his career. (14:00)
Mailbag: I got a big bonus that maxed out my 401(k) this year. Where should I be saving now? (16:10)
Mailbag: The difference between Roth conversions and Roth contributions. (17:39)
 
Visit us online: https://cardinalwg.com/
Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Ep 54: When & How to Rebalance Your Portfolio

Are you unsure of when to rebalance and how to do it? In this episode, we’ll uncover the importance of rebalancing your portfolio and discuss everything from frequency to tax implications. Plus, we’ll share a cautionary tale about the consequences of neglecting rebalancing.
Here’s some of what we’ll discuss in this episode:
What does rebalancing actually mean? (3:26)
How often should you rebalance your portfolio? (4:59)
Are there tools to rebalance automatically? (9:33)
The tax implications you need to consider when rebalancing. (11:33)
An example of someone we worked with who didn’t do the proper rebalancing. (14:12)
What can you do to protect your savings and investments from inflation? (17:30)
 
Visit us online: https://cardinalwg.com/
Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Ep 53: Why One-Size-Fits-All Financial Advice Doesn’t Work: Understanding Your Financial Personality

Are you tired of one-size-fits-all financial advice that doesn't quite fit your unique needs and goals? There are many types of personalities out there when it comes to financial matters. In today’s episode, we will talk about 7 financial personalities that we work with most often and how we help each client overcome their personal challenges and obstacles.  
 
Here’s some of what we’ll discuss in this episode:
A brief message about the Silicon Valley Bank collapse. (1:40)
Helping clients who have been scarred by something in their financial past. (4:47)
How narrowing down plans and strategies can be beneficial for people who have a hard time making financial decisions. (7:41)
How “Do-it-Yourselfers” can benefit from the Cardinal Success Journey. (10:17)
Assisting couples with differing financial views. (18:20)
 
Visit us online: https://cardinalwg.com/
Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Ep 52: Fore Your Retirement - What Golf Teaches Us About Financial Planning

Are you a golfer? Even if you're not, the game of golf can teach us valuable lessons about retirement planning. For example, hitting a hole-in-one might be thrilling, but it won't necessarily guarantee your overall success. And just like you need different clubs in your golf bag to play a round, you need a well-balanced approach to your investments in retirement.
But perhaps the most important lesson from golf is the value of having a caddy. In retirement planning, a financial advisor can help you navigate the hazards and make the most of your financial "clubs." Tune in to this episode to learn more about how the game of golf can help you plan for a successful retirement.
 
Here’s some of what we’ll discuss in this episode:
Anthony shares the spring cleaning he’s done with his own financial planning.  (1:23)
The hole-in-one in golf is great, but it doesn’t necessarily equate to overall success.  (6:13)
Picking out the clubs in your bag is much like giving yourself all the financial tools you might need to succeed.  (8:28)
The benefits of having someone to help guide you like a caddy. (11:36)
Is it safe to cancel life insurance once your kids are off the payroll?  (15:18)
 
Visit us online: https://cardinalwg.com/
Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Ep 51: 10 Point Checklist For Retirement Preparedness

Another year is upon us and it’s a great time to ask yourself 10 questions to assess how ready you are for retirement to kick off 2023. If you’re retiring this year, it’s essential to have some concrete answers to these questions. If you’re still a few years from the milestone, tune in so you can start thinking about these critical conversations.
 
Here’s some of what we’ll discuss in this episode:
Do you know how much income you’re going to need every month and what account to start withdrawing from first?? (4:33)
Are you prepared to handle market volatility and inflation? (13:12)
No one can predict the future of tax rates but are you prepared for the possibility of increases? (18:28)
How important is it to have a legacy plan in place before retirement? (24:08)
Now is the time to make sure you understand everything you’re invested in. (26:58)
How do you know if a financial advisor is trustworthy or not?  (29:51)
 
Visit us online: https://cardinalwg.com/
Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Ep 50: Four Ways the SECURE Act 2.0 Might Impact You

After being discussed in Congress for nearly a year and a half, the SECURE Act 2.0 passed in January. Much like the original version a few years earlier, this piece of legislation made a long list of retirement planning changes, many of which will impact the people we work with in the Philadelphia area.
 
Here’s some of what we’ll discuss in this episode:
What Anthony has been up to personally and professionally during the podcast break. (0:31)
The age to start taking required minimum distributions (RMDs) is being pushed back again. (5:40)
The option to roll 529 money into a Roth. (9:58)
Employees still paying down their student loan will be eligible for their company 401(k) match. (12:47)
The Roth option for retirement accounts. (14:25)
Should you start converting as much of your IRA to Roth as you near retirement? (17:23)
 
Visit us online: https://cardinalwg.com/
Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Ep 49: Finding the Right Advisor

With more and more people making planning a priority in the new year, we wanted to help you with the search for a new advisor.
Show Notes:
Retirement Rescue TOOLKIT: https://pfcl1znr.pages.infusionsoft.net/
Website: https://www.cardinalwg.com/
Email: retire@cardinalwg.com
Phone: (904) 414-2375