Advised | with Rick Luchini

The challenges of owning individual stocks, and how we invest for our clients. Whether you're a DIY investor, or a client of a traditional firm, this episode is a MUST listen.

Today's discussion covers the factors to consider before taking your social security. Listen to how we help clients choose the right age to claim social security benefits. Subscribe on YouTube: https://www.youtube.com/channel/UCbXaSLydoMX7P_kDc5tYmyQ Check out more from Hamilton: https://brandenburgfs.com/

Thinking of retiring before 65? Don't Miss This One! Today I shed light on Health Insurance in retirement with the help of insurance expert Jocelyn Wolf. We cover how to get affordable coverage before 65, and some pitfalls to avoid now, and after switching to Medicare. Although we mention our local state's exchange, most of these same techniques and concepts will apply to you anywhere in the US. TIME STAMPS: 00:00 Intro 03:20 Health Insurance Before 65 05:13 Premiums based on income 10:31 Health Insurance through Pennie 13:45 Managing Income and Taxes for Health Insurance 21:22 IRMAA and Medicare Premiums 26:34 Medicare Advantage vs Supplement 29:19 Utilizing Affordable Health Insurance Options Meet Jocelyn: https://www.evolveinsurancegrp.com/ Born and raised in central Pennsylvania, Jocelyn attended Bishop Guilfoyle High School in Altoona, PA. Jocelyn is a 2013 graduate from Duquesne University in Pittsburgh, PA with a Bachelor’s Degree in Business Administration focused on marketing and sales. Jocelyn believes that trust is the foundation for a successful client relationship and is committed to acting as an advocate for individuals when navigating their various healthcare choices. Jocelyn is a licensed health and life insurance agent in Pennsylvania & Maryland specializing in Medicare. Jocelyn is also AHIP (America’s Health Insurance Plans) certified. Jocelyn is committed to serving the communities where she resides by volunteering with organizations such as serving on the board for the Arc of Blair County and Gloria Gates Memorial Foundation. Jocelyn is a 2020 graduate of the Leadership Blair County Program. PA Life & Health Producer #893265 Who We Are: The Advised Podcast is tailor-made for working professionals who are determined to make astute financial choices before they approach retirement age. We believe that everyone deserves the chance to optimize their financial decisions, regardless of their career or background. Our aim is to empower you with actionable advice that bridges the gap between your aspirations and your fiscal reality. Unlocking Financial Insights: Join us as we sit down with industry experts who shed light on the intricacies of finance and unveil common misconceptions. Our engaging interviews provide you with practical takeaways that can transform your financial outlook. We're here to guide you through the labyrinth of financial choices, so you can confidently make decisions that resonate with your goals. Why We Stand Out: At The Advised Podcast, we're redefining the norms of financial guidance. Host Rick Luchini, a seasoned financial advisor, challenges the status quo by offering expert insights without the hefty price tag. We understand that the financial advisory landscape often overlooks the needs of the working class. Our mission is to bridge that gap by providing you with the knowledge and tools you need to make informed financial decisions. Educational, Energetic, and Empowering: Expect an engaging blend of education and energy in every episode. Our conversational approach makes complex financial concepts accessible, while our positive and direct style ensures you walk away with clarity and purpose. Tune in during your daily commute – our episodes are designed to fit seamlessly into your busy schedule. Your Guide to Financial Confidence: Host Rick Luchini is your companion on this journey to financial empowerment. Alongside industry experts, he's here to empower you with the knowledge and resources you need to navigate your financial journey successfully. With a new episode dropping every week, you'll have a consistent stream of insights to guide your financial decisions. The Message: At The Advised Podcast, we firmly believe that sound financial advice isn't a luxury reserved for those with massive investment portfolios. It's a universal right that impacts your family's well-being, your aspirations, and your peace of mind. Join us in unlocking the secrets of finance and take charge...

Today is an important discussion around mindset for any stage of your financial journey. Listen as we discuss finding balance between saving and living, and defining success on your own terms. Enjoy! My guest, Brandon Lovingier, ChFC®, MQFP® aka The Enlisted Money Guy™, has served over 18 years in the Army – including deployments to Iraq and Afghanistan. He established Enlisted Money to help enlisted service members avoid the same mistakes he made and achieve financial freedom. He’s spoken at MilMoneyCon and loves mentoring other service members. www.enlistedmoney.com

Ohan "The Money Doctor" is a certified financial planner who helps beginner investors navigate their financial challenges. In this episode, he passionately dispels financial myths and underscores the importance of accessible financial education. Listen in as he offers practical tips to those earning six-figure salaries but living paycheck to paycheck, encouraging them to transform their mindset and break free from financial stagnation. We also shines a light on how to maximize your dollar, tips on card payment methods, the power of changing perceptions about needs and wants, and the critical role of setting clear financial goals. Be inspired to embark on your journey to financial independence by investing in yourself, leveraging opportunities, thinking creatively, and proactively seeking answers to your financial questions. Learn more about Ohan at ohanthemoneydoctor.com

Today's episode is all about retirement income planning. I chop it up with Hamilton Brandenburg, a virtual financial planner focusing on helping retirees spend money and save on taxes. If you're doing your own napkin math and considering retirement, this episode will give you a lot to start thinking about. Check out more from Hamilton: https://brandenburgfs.com/ Key Takeaways: Chapters: 00:00 Intro 01:24 Working Virtually 06:37 Approach Income Planning 09:24 4% Rule vs Flexible Spending 13:13 Cash Flow 20:19 Empowering Clients 27:56 Flexibility in Retirement 28:49 Importance of Ongoing Plan Updates 33:08 Impact of Taxes on Retirement 36:32 Roth Conversions 48:15 Retirement Expectations

Exploring an unconventional approach to financial advice with Aaron Buchner, Financial Planner and owner of Cactus . Aaron discusses balancing living in the moment with future planning. We challenge the traditional emphasis on retirement and building wealth, suggesting that you should prioritize happiness and fulfillment in your work and personal lives. We highlight the importance of finding a balance between delayed gratification and enjoying life today, as well as the need for financial advisors to support individual goals rather than prescribing a one-size-fits-all approach. Key Takeaways:

From walking-on at Penn State to being drafted by the St. Louis Rams and now turned CEO, Central Pa's Josh Hull refuses to take no for an answer. Get inspired by this humble, small town guy who continues to overcome adversity by leaning on Family, Mindset and Faith. Listen as we discuss the dangers of attaching your identity to sports and your career. The mindset Josh used to succeed in football, that he carried into the business world, and why business owners should be looking to hire former college athletes. I get Josh's take on the latest NCAA NIL rules and discuss his thoughts on the the NCAA's newest proposal to pay student athletes directly. Finally we discuss Josh's current role as CEO and how his company is helping the US become more energy independent, as well as the unique investment opportunities and tax benefits that come along with US energy production.

Your #401k does not manage itself. Sure, there are some automation buttons you can choose from, and it's easy to let 2, 3 maybe even 10 years slip by without giving it another thought. Your 401k will likely become (if not already) your biggest asset. It's what you will rely on to fund the majority of your retirement years. With something that important, WHY aren't we taking it more serious? Most folks strategy is to ignore it until the time they want to retire, and then find out whether or not they can afford to OR adjust their lifestyle down to make due. It is reactionary, and I'm am pleading with you to be PROACTIVE, and take control now. You might have to spend some time (or money) on optimizing the account, but we regularly do a lot more, for a lot less in our every day lives. 401k's are not overly complicated. In fact, their limiting features make them easy to manage with little effort. The key is to build out the proper allocation, rebalance it at proper drift triggers, not date intervals, and keep the fee drag to a minimum. After that it's routine maintenance and a deeper dive into the "how much" and "what type" you are contributing. All of that should be reviewed on an annual basis, because your life, tax status, goals, time horizon etc change pretty much that often. Today's episode should give you some things to consider and hopefully realize you have more control, than you think.

The world has changed, yet the traditional cold turkey retirement is still mainstream...WHY? What if you could get to the good stuff sooner? How much energy would you have? Would your health improve? Would your relationship with your spouse and children get stronger? Would you, just simply be happier? For many the answer to all those questions and more is a resounding YES, and unfortunately they don't see a clear path to get there. Now this is no trick, or easy get rich quick scheme, and you don't even have to buy real estate! The concept is to either slow down for longer, OR (and this one is my favorite) actually do something you enjoy doing every day, so that work... well isn't really work. You still need a portfolio and you will still need some traditional planning to see what age this can start at, and how much money is needed each year. This concept doesn't work if you're 50 and don't have any savings, the idea is the start the benefits of the retirement you're starting to envision, EARLIER. Would spending more time with the grandkids 2 years earlier make your life better? How about snow birding to Florida 4 years earlier than you thought possible? If you could play golf mostly when you want to for 5 years before you previously planned, would that increase your happiness? Start viewing you retirement for what it allows you to do, not what you get to stop doing!

In Today's episode I discuss the impact of financial advice before age 50. Why it should be very different than the advice your parents receive, and some things to consider when getting started. Somewhere along the way, Financial Planning became synonymous with Retirement Planning. The truth is, Financial Planning is comprehensive financial advice for all ages, not just for the rich and the soon to be retired. If you're in your 30's or 40's, you are making financial decisions every day that will impact your greatly down the road. Now might be the time to start taking it serious, and get your financial house in order.

Investor behavior is the number one reason for investment underperformance. In today's episode I discuss a new way to view your investments and how to contextualize your losses (and gains). Having a basic understanding of how you're invested, and WHY you own certain positions goes a long way in making the right decision when times are tough. Not having an investment philosophy that you understand and believe in, can leave you stressed and unsure what to do. That is the EXACT time when people make the wrong moves, negatively impacting them for years to come. Successful Investing can be SIMPLE, but it's definitely not EASY.

The retail investor today has access to more investments, free platforms and better tools than advisors did a short 10 years ago. While the data proves that the long term investor is better served with a low cost, well diversified portfolio, why are so many still paying so much for something that can be done for free.? In this episode I discuss a new way of thinking. I encourage you to update and raise your expectations. If you are paying for investment management and not receiving comprehensive financial planning, you deserve more. If you are a DIYer, or wish you were, but are too scared to take the leap, hopefully this is the first step in empowering you to do it. It's time we all take a look at what we are paying for and where the value is being added. Don't let the fancy pamphlets and quarterly market outlooks fool you. The smartest and most sophisticated money managers regularly underperform a well built portfolio over the long term. Don't let fear get in the way of making prudent financial decisions.

I sat down with Tami Clark, the Executive Director of the Central Pennsylvania Scholarship Fund to uncover a hidden gem for PA tax payers, and especially Small Business Owners. We discuss how this program works, who it is best for and some common misconceptions you may find when doing your own research. If you are a PA resident and love to support your local community, This is a MUST LISTEN ! Tami is a great resource on all things Educational Improvement Tax Credit related.

Too often I see savers and responsible families not know how to distribute those savings back to themselves in a responsible way. The end result is a fear based approach that errs on the side of caution leaving a lot of unspent dollars, and unlived experiences behind. Don't forget about TODAY, when planning for tomorrow.

Join us for an insightful conversation in the debut episode of 'Advised' podcast! In this episode, host Rick engages in a candid discussion with Medicare expert Jocelyn Wolf. They delve into the world of health insurance, demystifying common misconceptions, sharing valuable insights, and exploring how to navigate the complex landscape of Medicare. Discover why it's crucial to critically evaluate information, avoid blind decisions, and find trusted resources to make informed choices. Whether you're approaching retirement or simply seeking guidance on insurance matters, this episode offers practical advice and empowering perspectives. Subscribe now for more expert discussions on financial and insurance topics!"