Make Retirement Work

We’ve received some great questions from clients recently. For instance, if you got a raise at work, but your household now makes too much money to contribute to a Roth IRA, what do you do? Where should your investments go if you like tax-free growth? Tune in to this episode as Marc answers this question and others, like how to use a health savings account, how to save for your kids’ college, and more. As always, we’re here to answer any financial questions you have. Stay tuned to see what you can learn from these listener questions! In this episode, we’ll share: What to do if you make too much money for a Roth? (0:32) How to use a health savings account? (5:16) Should I stop contributing to my 401(k)? (7:22) How to save for kids’ college? (12:30) Get in touch with Marc and PFA: Web: https://www.pfaretire.com/about-us/our-team.html Phone :308-534-8210

Today we’re tackling two meaty topics – the debt ceiling and playing the long game in investing. Last show, we talked a lot about the debt ceiling, so we wanted to give you an update. The Federal Reserve met recently and decided to pause rates, which was to be expected. In the media, it was doom and gloom last month, and now they’re not talking about it as much. Some people thought the Fed might cut rates, but that hasn’t happened. They’ll probably increase them again this year. In this episode, we’ll share: What happened with the debt ceiling? (0:41) Why you need to play the long game. (3:50) How can business owners help employees plan for retirement? (7:11) Get in touch with Marc and PFA: Web: https://www.pfaretire.com/about-us/our-team.html Phone :308-534-8210

Today we're talking about the U.S. debt ceiling. You might be wondering, what is that? It’s basically a limit on the total amount of money our government is authorized to borrow. U.S. Treasury Secretary, Janet Yellen, says our country has enough money to pay our bills until June 1, so we’re coming up against that deadline. The president and House and Senate leaders are currently negotiating about how to handle this. In this episode, we'll take a look at how the debt ceiling has been handled in the past and discuss what might happen moving forward. Join us as we dive deeper into the U.S. debt problem in today's episode and talk about how it could impact you. In this episode, we’ll share: What is the debt ceiling? (0:39) How could a possible government shutdown affect us? (4:36) How politicians are handling the debt ceiling. (10:27) Get in touch with Marc and PFA: Web: https://www.pfaretire.com/about-us/our-team.html Phone :308-534-8210

We have a lot to talk about on today’s show because it’s an exciting time of year! Tax season is behind us and we’re looking ahead. In honor of Financial Literacy Month, we’re sharing facts you need to know when it comes to your money. We’ll explain how financial literacy can impact you and how your money challenges and successes can impact your children down the road. If you’re listening to this podcast, odds are that you are already interested in this topic, but let’s take it to the next level. In this episode, we’ll share: Experiencing a drop in your 401k balance when you're young may not necessarily be bad news. (5:29) What does financial literacy mean to you? (7:56) How your finances can impact your kids. (11:20) https://www.pfaretire.com/about-us/our-team.html 308-534-8210

The collapse of Silicon Valley Bank and Signature Bank has been huge news in the financial sector and an event that many people worry could trigger even more fallout across the country. With 2008 still fresh in our mind, it’s justified to be concerned about what this might mean for your money. In this episode, Marc will break down the events leading up to these bank failures and explain what actually happened to cause this collapse. Knowing what went wrong will help you better understand how it’s different from the failures 15 years ago. But there’s still plenty of concern about what this means for you and your money. Marc will talk about local banks and how they’re structured to give you a better idea of where your money is stored. Plus, there might actually be some silver lining to all of this news related to the stock market moving forward, which we’ll explain as well. Here's some of what you’ll learn in this episode: Who was Silicon Valley Bank? (4:30) Should you have any concerns over your local bank? (7:04) What led to this breakdown of SVB (9:39) The silver lining for the stock market. (16:52) Get in touch with Marc and PFA: Web: https://www.pfaretire.com/about-us/our-team.html Phone :308-534-8210

Today we’re sharing a great checklist you should follow to begin 2023. This will help you through the year if you’re interested in being better prepared for financial planning and for retirement. If you’re retiring this year, it’s essential to have some concrete answers to these questions we’re talking about on today’s show. If you’re still a few years from the milestone, tune in so you can start thinking about these critical conversations. On this episode, we’ll share: • How to prepare for economic change and inflation. (2:00) • When should you access Social Security? (4:38) • How to prepare for future tax increases. (6:41) You can learn more at the link below: https://www.pfaretire.com/make-retirement-work/podcast.html Let's chat about your retirement plan: 308-534-8210

In the New Year, it looks like we may have some changes to the retirement system. It may make things slightly more challenging for PFA and for consumers throughout the nation. New retirement legislation is on the horizon, and in this episode we will discuss some of the key points you will want to know about the SECURE Act 2.0. On this episode, we’ll share: (1:20)(5:48)(10:53) You can learn more at the link below: https://www.pfaretire.com/make-retirement-work/podcast.html Let's chat about your retirement plan: 308-534-8210

Today’s show combines our two favorite topics – finances and football. Believe it or not, planning for your financial future has some similarities to the sport of football. In retirement planning, some people try to be successful without having a coach at all. Others keep the same coach that they’ve had for years, even though things aren’t working out with him. We’ll explain why you need to design a portfolio that puts you in victory formation. On this episode, we’ll share: You can learn more at the link below: https://www.pfaretire.com/make-retirement-work/podcast.html Let's chat about your retirement plan: 308-534-8210

Welcome to today’s show! If you haven’t heard of Professional Financial Advisors, LLC, we handle money management and financial planning and have been in business since 2003. We also help clients with Medicare plans. Within financial planning, we try to be holistic so we can handle all your needs. Find out more about our business and how we can help you. On this episode, we’ll share: (2:23)(4:13)(7:08) You can learn more at the link below: https://www.pfaretire.com/make-retirement-work/podcast.html Let's chat about your retirement plan: 308-534-8210

(Note: Today's episode sounds a little different as it was originally produced for the NebraskaLand Bank Podcast) On this episode: Medicare can be confusing, especially with the various plans and supplements offered through different companies. So we're going to break down Medicare today with two experts on the topic, Whitney Kester, a specialized Medicare insurance agent, and Marc Werkmeister, a Certified Financial Planner. Unfortunately, the process of Medicare is a lot more complicated than simply enrolling once you turn 65. There are supplement plans and prescription plans we need to consider as well. Working with a team like Whitney and Marc can ensure you are getting the coverage that fits your needs and your lifestyle. Key Points: Did you always want to specialize in Medicare? (4:45) Can you break down Medicare Part A, Part B, Part C, and Part D? (7:12) Why is it so hard for people to plan for Medicare by themselves? (11:13) What is your client relationship like when planning for Medicare? (14:02) How do you keep up with changes in Medicare? (17:11) How do people go about setting up a consultation? (19:08) A quick update on the economy and interest rate environment. (21:51) Trivia: Who said this famous quote? (28:38) Learn More: https://www.pfaretire.com/

(Note: Today's episode sounds a little different as it was originally produced for the NebraskaLand Bank Podcast) On this episode: With a volatile market, rising interest rates, and high inflation, many people are worried about the state of the economy. On today’s show, two economic experts, Senator & NebraskaLand CEO Mike Jacobson and Certified Financial Planner Marc Werkmeister join us to break down the trends we are seeing in the economy and what it all means. More Details: The current economic environment has many people worried. Interest rates are up, the stock market is volatile, bit coin has lost tremendous value, and inflation is up. So on today’s episode, we want to sit down and discuss the economy and the future trends we should expect to see with two economic experts, Mike Jacobson and Marc Wekmeister. Mike Jacobson is the CEO of NerbaskaLand Bank and the Senator for District 42 and Marc Werkmeister is a Certified Financial Planner with PFA. Inflation is when too much money is chasing too few goods and services. Looking at where we were with supply chain issue and the influx of money into the economy with stimulus checks, inflation was bound to happen. To combat inflation, the Federal Reserve raises interest rates, promoting people to stop buying and start borrowing and we are seeing this impact in the housing market already. By a strict definition we are not technically in a recession yet. However, we are experiencing some of the signs of a recession. Whether we will end up in a full-blown recession isn’t known yet. We’ll explore some scenarios and what you should be doing to protect your wallet. Join us today as we get into these topics: Timestamps: 0:37 – Sorry to keep you waiting! 1:14 – We love Nebraska Day 2:56 – Welcome to our guests 3:28 – What is the overlook on the economy? 9:44 – Getting back to ordinary 12:58 – Are we in a recession? 15:00 – How would you protect your 401(k)? 18:38 – Bond-ladder investing and CD letters 19:40 – What is your advice to a hopeful homebuyer? 21:44 – What are we looking at with home lending? 25:59 – Making compromises with homes 27:31 – Figuring out what your long-term and short-term goals are 29:35 – What are some of the positives? 32:59 – Trivia: Current Events!

I was recently a guest on NebraskaLand Bank Podcast and spoke with hosts Ty Lucas and Danielle Remus. Today I’m sharing our conversation on my podcast. Here are some of the highlights. What should people be thinking about with retirement planning? As far as the end of year, a lot of it centers on capital gains, taxable events by mutual funds, maxing out retirement accounts, etc. All that stuff has to be top of mind before the end of the year. We also talk to clients about making sure they're saving enough and have the right kind of insurance. You need to have a narrow plan about what you’re trying to accomplish. How does crypto work in today’s financial world? The crypto market changes so fast. From three years ago, my thoughts on crypto have done a complete 180. If you look out 20, 30, 40 years, there will still be crypto currencies out there. They can be a diversifier, but they’re still tied to the overall stock market as far as their correlation. I do think it has a place as an asset class. Tell us about your connection to Dave Ramsey. One of the guys in our office is one of Dave Ramsey’s SmartVestors. Dave Ramsey’s team vets and recommends local financial advisors to help his listeners. Listen to the entire episode or click on the timestamps below to skip ahead to a particular question. What we discuss in this episode: 3:12 – Professional podcaster 5:52 – PFA 7:47 – Where clients come from 8:24 – Retirement planning 11:28 – Spectrum of services 17:47 – Crypto 19:49 – Taxation with crypto 23:35 – Robinhood 28:47 – Dave Ramsey 30:02 – Railroad retirement 33:11 – Trivia game For more, visit us online at https://makeretirementwork.com/

In today’s mailbag, we’re answering listener questions about how to retire early, whether to take a pension lump sum and if it makes sense to have two financial advisors. Read more and get additional financial resources here: https://makeretirementwork.com/make-retirement-work/podcast.html What we discuss on this episode: 2:11 – Retiring early 6:21 – Pension 8:25 – Two advisors

Today we’re sharing some potential red flags you should be aware of in your finances. How would you answer these questions? Can you name all of the investments in your portfolio? It’s not a red flag if you can’t name them all, but you should know generally what you own. If you can name them all, you might not be very well diversified. If you don’t know how your money is invested, maybe you’re not diversified enough or maybe you’re taking too much risk or not enough. You have to pay attention to how your money is invested. How often do you meet with your financial advisor? You’re paying someone to give you advice, so you need to be in touch with them regularly. Meetings don’t always have to be long and detailed. Sometimes a 15-minute conversation is all you need to check in. Are your account balances constantly moving up and down? Most people are OK with volatility when they’re trying to accumulate funds. It can be to your advantage because you can buy when the market drops. Retirees, on the other hand, don’t like the ups and downs of the market. You need to meet with your advisor and know more about your investments and the big picture. How much income will you need in retirement? If you are close to retirement and you don’t know how much you’ll need in retirement, that’s probably a red flag. Everyone spends different amounts, but you need to know, generally speaking, how much money you need in your bank account each month. Listen to the entire episode or click on the timestamps below to skip ahead to a particular question. 3:12 – Name your investments 5:26 – Meeting with your advisor 7:31 – Account balances 10:14 – How much income you’ll need 12:40 – Retirement plan Read more and get additional resources here: https://makeretirementwork.com/make-retirement-work/podcast.html

Marc is on the hot seat with this financial and retirement quiz. Play along and see how you do as well. Read more and get additional financial resources here: https://makeretirementwork.com/1399/ep-28-test-your-financial-knowledge/ What we discuss on this episode: 2:30 – Scary retirement 4:22 – Scary coming year 9:10 – Tax bracket 11:24 – Money in retirement 14:16 – Wish you had more

We’re changing it up today with some funny financial planning jokes and what we can learn from the humor. Read more and get additional financial resources here: https://makeretirementwork.com/podcasts/ What we discuss on this episode: 1:57 – Credit cards 4:52 – Buying bonds 8:02 – Check my balance 11:23 – Long-term investment 13:27 – Stock market crash 17:07 – Retire at 64

Common sense is actually quite uncommon, especially when it comes to financial planning. Here are some common sense money approaches you need to know. Read more and get additional financial resources here: https://makeretirementwork.com/1372/ep-26-learning-through-uncommon-sense/ What we discuss on this episode: 1:43 – Buy low, sell high 5:36 – Don’t pay more in taxes than you have to 8:47 – Keep costs low 11:11 – Don’t put eggs in one basket 14:06 – Marketing timing

People often have questions about life insurance. It’s not a sexy topic, but it is an important one. We’ll explain why. Read more and get additional financial resources here: https://makeretirementwork.com/1350/ep-25-do-you-really-need-life-insurance/ What we discuss on this episode: 1:50 – Dirty word 3:33 – Do you need it? 4:48 – How much? 7:50 – Strategic uses 11:54 – Term, whole and universal

On this episode of Make Retirement Work with Marc Werkmeister, we’ll explain how financial planning is like basketball. You might be surprised how much they have in common. Read more and get additional financial resources here: https://makeretirementwork.com/1331/ep-24-what-basketball-teaches-us-about-retirement/ What we discuss on this episode: 2:54 – Shot clock 6:08 – Double dribble 9:37 – Personal fouls 13:24 – Coaching

Today, we’re answering your most pressing financial questions about 401ks, mutual funds and inflation. Let’s jump into the mailbag. Read more and get additional financial resources here: https://makeretirementwork.com/1321/ep-23-mailbag-401ks-mutual-funds-and-inflation/ What we discuss on this episode: 2:41 – Can I leave 401k to son? 6:57 – Worry about inflation? 10:30 – Mutual funds 15:13 – Rental property