Retirement Planning - Redefined

On this episode, we will continue our conversation on what expenses may change when you enter into retirement. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Mark: Back here for another episode of the podcast with John and Nick from PFG Private Wealth. On Retirement Planning Redefined, we're going to get back into our conversation from the prior episode about cashflow. We went through some categories, housing, work stuff, healthcare, taxes, so on and so forth, on how those expenses will change either to the plus or the minus, depending on our setup. Well, this is the time to talk about the setup. So as we are assessing our retirement expenses, we'll break these down into a couple of categories. So we're going to talk about those with the guys. John, welcome in buddy. How you doing this week? John: Hey, I'm doing all right. How are you? Mark: Hanging in there. Doing pretty well. How about you, Nick? Nick: Pretty good. Staying busy. Mark: Staying busy and enjoying. So we're taping this before the fourth, but we're dropping this after the fourth, so hopefully you guys had a good fourth? Nick, you probably went up and saw family, yeah? Nick: Heading up north to just, yeah, extended family and friends. That fourth week makes it an easier week to get away because everyone's doing stuff anyways. Mark: Yeah, yeah. It's always funny when we have the holidays and we're kind of taping the podcast ahead of time because then drop it because we're not around, so sometimes I get confused on my dates. So yeah, again, we're talking about this before the fourth about what we'll probably will be doing on the fourth. So John, are you on grill duty? Because I know I am. I'm stuck on it. John: No, no. My brother's forcing me to have a cookout at my house, so I told him if I'm providing the house, he's the one on grill duty. Mark: Okay, that'll work. John: He's visiting from Boston, so he's excited because my other brother's down here and my sister, cousin, and actually the best man in his wedding is married to my sister, so he decided to come down. Mark: So Marketing 101. So the second you said Boston, all I hear is these Sam Adams commercials right now, "Your cousin from Boston." Every freaking time I hear Boston, that's the first thing I think of. Or Sam Adams beer, I go right there. All through the hockey playoffs and NBA playoffs, I kept seeing those commercials so it's embedded in my brain. But hey, that's the point of marketing, right, is to be those little earworms, so you go out and buy whatever it is that you go out and buy. And speaking of that, that's my transition into the must haves versus the nice to haves. So if we're talking about those accounts, those different categories that we went through on the prior episode, guys, how do those...

In this episode, we’ll explore many of the expenses in your life that might drastically change (one way or another) in retirement. We’ll break those expenses down further to see which ones are the top priorities and analyze some of the other factors that impact your cash flow in retirement. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Marc: Welcome back to the podcast. It's Retirement Planning-Redefined, with John and Nick here with me to talk investing, finance, retirement, and mastering retirement cashflow, part one, is going to be the topic today. We're understanding just changing expenses. We're going to break this into really a two-parter here, obviously, by calling it part one. And we'll do a little more focus on some of the other things on the next session. But for today, I want to explore some of the expenses in life and how they just change as we're moving some things ... as we're moving from working into retirement. And things you guys see with your clients and how you work through that process for them. So that's the topic today. Let's get into it. John, first of all, how are you doing, buddy? John: I'm doing all right. Getting ready for the summertime here. Marc: If it happens. I don't know what's going on in the south. I'm in North Carolina, and we've had one 90 degree day, and it's almost July. Totally unusual for us, so it's very, very weird. Nick: Oh, it's hot here. Marc: Yeah. It's like two states seem to be in a weird spot. I don't know what's going on with the middle of the south here. It's very strange this year. But Nick, I heard you chime in. How are you, my friend? Nick: Doing pretty good. Marc: Yeah. So you guys are sweltering, is that what you're saying? Nick: It's definitely hot, yeah. Marc: Well, kick a little this way because I don't know what's going on. It should be warmer here than it has been. So, very weird. Nick: Well, I'll trade. Marc: Okay. All right. Yeah. Like today, it's ... well, we're getting a ton of rain. Today, taping this podcast, it's 72 for the high, and tonight's overnight low is 58. That doesn't happen usually in North Carolina in late July or late June. Nick: Yeah. That is pretty surprising. That's cool for North Carolina. Marc: Very, very weird. So I don't know, Mother Nature is off her meds, I guess. But what can you do? So let's get into this conversation, guys, about changing cash flow, before I keep going down that tangent. I've got a few parts here I want to run through. What are some of the expenses that might drastically change one way or the other, either to saving us money or to costing us more money? Whichever way you guys want to take this, whatever you've seen with your clients. But let's start it off with housing. I think housing is probably the...

This is part 2 of our Social Security conversation. We will be debunking the remaining 5 myths on today's show. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Marc: Back for another edition of the podcast. This is Retirement Planning redefined with John and Nick from PFG Private Wealth, serving folks all around the area here. So reach out to them on the podcast, pfgprivatewealth.com is where you can find them online for a lot of good tools, tips, and resources. You can subscribe to the podcast, book some time with the team, all sorts of good stuff. Again, stop by the website if you're not already working with them at pfgprivatewealth.com. And if you haven't subscribed to the podcast, consider doing so while you're there. We're on Apple, Google, Spotify, and all that good stuff. So you can check that out. And this week we're going to follow up with the second half of our social security myths. We did the first five on the prior episode. You don't have to have listened to that one to listen to this one, but it certainly isn't a bad idea to go back and check that one out. So that one came out a little bit earlier in April. So we're going to drop this one here and get into the second half of this, the next five myths. Guys, you doing all right this week, John? How are you buddy? John: I'm doing good, having a little contract work done at the house, which is, as you know Mark is - Marc: Challenging. John: I'm dealing with that. It's always a challenge and fun. Marc: That's right. John: Looking forward to the project being complete. Marc: Yes, we need more contractors, we need more people who are in the trade services. That is for sure as there is a major shortage all across the country, really I think globally actually as well. But Nick, what's going on with you bud? Nick: Staying busy for sure. Marc: Spring is here and the weather's nice. That's always good. Nick: Yeah. Although it has been warmer here than I feel like typical this time of year. Marc: Could be a hot summer then. Nick: Yeah. So hopefully it cools down just a little bit for the next month so we can enjoy the end of spring. Marc: Have an actual spring, not skip it. Nick: Yeah, that's all I'm asking for. Marc: There you go. Well, let's jump into some myths here and see if we can help some folks out with some more of these. Again, we did the first five, which are kind of the big five I think that many people hear often, but I've got some other unique ones as well. So these might appeal to some folks who are thinking about social security or getting close to that age and are wondering about some of these things that they've heard maybe online or on the news or whatever. So let's jump in, talk about a few things guys. Myth number six, out of the...

Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you're eligible is the best decision for your financial future? In this episode, we'll be debunking common myths about Social Security and answering the questions you've been curious about. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Marc: Welcome into another edition of the podcast, it's Retirement Planning-Redefined with John and Nick from PFG Private Wealth. Got a little two-parter going on this podcasting episode. We're going to spend this one and the next one talking about some social security myths, some of the top social security myths. Some of these certainly, I've heard and many of the guys have heard, and maybe even the listeners have heard, but there's a few in here maybe you haven't, and hopefully it'll help you out a little bit if you've ever wondered some of the questions or things that we hear on the news all the time. Now we're constantly making the rounds online. So again, we're going to break this into a two-parter. So if you have not yet subscribed to the podcast, make sure you do so at pfgprivatewealth.com. That's P-F-G privatewealth.com. Just hit the subscribe button or heart button or whatever it is on various different apps you might have already on your phone, like Apple Podcasts or Spotify or Google or whatever the case might be in that regard. So with that said, we got a lot to get through. We got five this week and five for the next episode as well, so let's dive in. Get started. Nick, what's going on buddy? How are you? Nick: Good, good. Just staying busy. I had some family in town this weekend, which is nice to visit, which tends to be a trend this time of year. Marc: Yeah. Yes, we're taping this right after Easter, so yeah. Yep. Nick: Yep. And then tax season is always entertaining. Marc: Oh, busy. Mm-hmm. Nick: So yeah, so we're just plugging. Marc: Good, good, good. John, how are you my friend? John: Doing good. Doing good. Just celebrated my oldest daughter's seventh birthday and I'm like, "Man, she is... Marc: Where does it go? John: When she hit school, it's like, "Man, this is going by much faster than I anticipated." Marc: Yeah, it always does. Nick: Yeah. Marc: Mine is 25. She'll be home this week, actually, for a couple of days from the Navy. And yeah, I'm like, "God, 25. Really? Stop.". It only speeds up my friend, so good luck with all that. John: I believe it. Marc: But happy birthday to her. All right, let's get into some social security myths. Neither one of our kids, John, will need this anytime soon, but for a lot of our listeners, social security is certainly a big topic of conversation, whether you're, I think, you're 50 plus....

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. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Marc: Back in for another edition of the podcast. Thanks for hanging out with John and Nick here with me. Talk investing finance and retirement here on Retirement Planning - Redefined. We're going to have a little fun with this podcast conversation, a little golf lesson and tie-in to financial planning or retirement planning. So this will be fun. It's right up your guys' alley. John, just a few weeks back, you guys had your annual golf tournament, and we had talked on the prior podcast, it went really well. I should have had this ready for you. We could have talked about it then, but that's okay. John: Yeah, yeah. It's all right. If you want to ask questions about it, I can definitely tell you. It was a great event and we donated to Boys and Girls Club of Tampa Bay and Tampa Hope, which provides homeless shelter stuff. So, yeah. Marc: That's awesome. Yeah. John: Yeah. Marc: All right, so are you a big golfer yourself? John: No, I'd like to be when I can get back at it, but I'm not very good. It's been on my to-do list to take some lessons and be able to get on the course, but I like- Marc: Well, you don't have to be good to like it. I think that's most people. John: Yeah, no, I like going on the cart and driving around and hanging out with my buddies. Marc: There you go. Nick, what about you? Are you a golfer at all? Nick: I wouldn't call it golf, personally, I go out and I hack for- Marc: Yeah, there you go. Nick: ... about seven or eight holes- Marc: There you go. Nick: ... and then I'm pretty much done at that point. Marc: You're a hacker. Okay. Nick: Yeah, maybe now that I'm in my forties it'll be something that I reengage with, but I enjoy being out there when it's the nicer time of year, the cooler time of year here. It's fun to hang out with buddies and go and be out, but it tends to be a four to five hour chunk. So it just depends on my mood, I guess. Marc: Yeah, it certainly can be fun. It can be a frustrating sport, but it's easy to do, and of course it's obviously a very...

Are you preparing for retirement but feeling confident that you have covered all the expenses? Well, think again... It turns out that many retirees overlook some crucial expenses that can leave them financially vulnerable. In this episode, we explore the retirement expenses that most people tend to forget, including skyrocketing medical bills, unexpected travel costs, taxes, and much more. We'll discuss practical tips and strategies to help you plan for these expenses and ensure a secure and comfortable retirement. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Marc: Hey everybody, welcome into the podcast. Thanks for hanging out with John, Nick and myself here on Retirement Planning Redefined as we talk, investing, finance and retirement with the guys from PFG Private Wealth. And this week we're going to get into retirement expenses for which you might have forgotten to plan for, which certainly happens. So on this episode, we're going to discuss some practical tips and strategies to help you plan for these expenses and maybe secure a more comfortable retirement. Guys, what's going on Nick? How are you buddy? Nick: Pretty good, pretty good. I got some friends coming into town next week and then family trickling in over the next month, so it's going to be a hectic month. Marc: Yeah, that's not bad though. Nick: That time of year. Marc: There you go. And spring is upon us, so that's always good. We're into March, so that's a good deal there. John, what's happening buddy? How are you feeling? John: I'm feeling okay. Getting there. Getting a little stronger each week so excited about that. Marc: There you go. John: But feeling pretty good. We just wrapped up our golf tournament, nonprofit charity golf tournament. Marc: Oh, fantastic. Yeah. John: And looking really good. It was a great time. Nick was out there helping me out because I couldn't lift anything heavy, but it was a great turnout. And it's year three and looking forward to year four. So. Marc: That's awesome. Yeah, fantastic. Always good to hear those success stories. So let's share some things this week. Let's get into the podcast here a little bit and talk about some expenses that we might encounter in retirement. And maybe we planned for them, maybe we haven't. Hopefully we have. But let's start with a big one obviously, medical expenses. I mean, typically they outpace normal inflation a lot of times. It seems like medical's just constantly on the rise. So how do we address some of this stuff? Nick: Yeah, what's actually been probably at least most recently with a bunch of our clients, the dental expenses have been pretty wild. I know my parents have kind of run into this too. It seems like once you get into your sixties almost everybody has some sort...

After being discussed in Congress for nearly a year and a half, the SECURE Act 2.0 passed in January. Listen to today’s episode to see what you need to know and learn four ways the new changes might impact you. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Marc: Welcome into another edition of Retirement Planning Redefined with John and Nick from PFG Private Wealth. We're going to tap into the SECURE Act 2.0, a couple of items you might want to be aware of if you're not and four ways that it could impact you. They went ahead and got this passed at the very, very end of 2022, right before the Christmas break, and some more changes coming down the pike. A lot of changes really in the SECURE Act, but we're going to touch on some of the bigger ones today. There's a lot of little nuance, so if you definitely have questions around it, absolutely make sure you're talking with your financial professional or reach out to John and Nick and have those chats with them at pfgprivatewealth.com. Nick, what's going on buddy? How are you? Nick: Doing pretty good. I can't believe it's already almost February. Marc: Yeah, at the time we're taping this, it's like a day away. So we'll be dropping this first week or so of Jan... or February, excuse me. Yeah, time is moving quickly, so, for sure. John, what's going on with you, my friend? John: Not too much. Doing all right. Looking forward to... Nick's probably not looking forward to this, but the upcoming Super Bowl. Two good teams. Marc: Yeah. John: So looking forward to checking out those quarterbacks go at each other. Marc: Yeah. Yeah, it was an interesting playoff season, for sure. So not the result I was looking for either, Nick, but all good. So... Nick: Yeah. Marc: It is what it is. But let's talk about some of these changes, guys, because they did a ton of them, but I want to touch on some of the bigger ones and any other ones you feel are important you want to touch on as well. But like I said, right there before Christmas, literally like the Friday before Christmas, they went ahead and passed this as part of that omnibus bill, all sorts of stuff in there. And they went tinkering around with some more things. And the first one on the list that might affect most people is the RMDs, the age. They changed it again. So you can give us a little backstory if you'd like from how you want to go, with whatever angle you want to go in, but explain to us what they did. Nick: Sure. So for many years, the RMD, or required minimum distribution age for pre-tax retirement accounts was 70 and a half. And at least... I was just personally excited when they got rid of the half year, because why in the world did they have it in the first place? Marc: Right. Nick: But so in early 2020, they...

Too many folks misunderstand bonds, how they work, and what role they play in a proper financial plan. We’ll address some of those bond related issues on today’s show. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Marc Killian: Welcome into another edition of the podcast, Retirement Planning - Redefined with John and Nick from PFG Private Wealth. And it's time to talk about bonds and really what you need to know and how they actually work. And there's a lot of conversation around that, obviously in '22, certainly to the fact that nothing seems like a good idea as far as things go. And when the market is weird, often we run to bonds for the safety aspect, but there's some things going on there too. So, let's talk about how they actually work, what role they might play in a proper financial structure and how maybe this here lately, it's been a bit of a different show in that regard. So guys, welcome in. Nick, what's going on buddy? How are you? Nick McDevitt: Pretty good, pretty good. Staying busy. Marc Killian: Yeah, that's good. Very good. John, and you? How are you doing? John Teixiera: Doing all right. Marc Killian: Yeah? John Teixiera: Hanging in there. Marc Killian: How's the bond market? A little rough. John Teixiera: Little rough if you've owned some already. Could be good if you're buying some new ones. Marc Killian: Yeah, right. And that's the difference, right? John Teixiera: It depends where you're at. Marc Killian: Depends where you're at. So yeah, we're going to talk about that a little bit. First thing I want people to understand is that the bond market is actually way bigger than the stock market. A lot of people don't know that. That's just an interesting little tidbit, but it is a lot bigger. John Teixiera: Yeah. Yeah, a lot of people aren't aware of that, but- Marc Killian: There's a whole lot more stuff in there. Right? John Teixiera: Yeah. Marc Killian: But let's go into the misunderstandings, right? So first off, just why don't you guys give us the basic gist of how a bond works, for folks who just might not know? John Teixiera: Yeah. So, to break it down to its simplest form, a bond is basically loaning your money to a public institution or private entity. So, you're basically saying, "Hey, I'm going to give you my money." And for that, the company typically provides some type of interest rate for that period of time where they have your money. And as far as obligations go from that company or public institution, there's a promise to pay you back. And that promise is only as good as the paying ability of that company. So, I think that's bonds in a nutshell, if you try to break it down to its simplest form. Marc Killian: Yeah, you're loaning the company money, right? You're...

Just like the lights on your dashboard can indicate if something is wrong with your car (like low tire pressure or leaking oil), there are indicators in your financial life that might point out that you have a problem that needs to be addressed. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Marc: Welcome in to another edition of the podcast. Thanks for tuning in to Retirement Planning Redefined with John and Nick here from PFG Private Wealth to talk with me about some warning signs, how to spot problems in our financial life. The years winding down, getting into the new year. It's maybe a good time to have the radar out looking for things that we are doing maybe incorrectly that we can improve. If you got a warning light on your car, you're probably going to take it in for service. So maybe the same thing financially speaking. What's going on guys? John, how you doing my friend? John: Hanging in there, getting ready for the holiday season. Marc: That's right. John: Thanksgiving is next week, right? So yeah. Marc: Yeah. John: Doing all right. Marc: The time we're taping this, yeah it's upon us. Nick, how about you my friend? Nick: Rough couple weeks for Bill's fans, but besides that, doing pretty good. Marc: Overall though they're still pretty stout, so. Nick: Yeah. Marc: Yeah. But it happens. It happens. Well, John: Well the Bills kind of do this every year where they kind of, last year they did it too. They like a two or three games stretch where they just kind of lost focus. Marc: Yeah. Yeah, yeah. They're still young too, right? So be a lot too. Nick: Still painful. Marc: It is painful. This is true. Hey man. Lions, that's all I'm going to say. Every time. Although two weeks in a row and we beat the Packers. I'll take that any day of the week so. Nick: We play you guys on Thanksgiving. Marc: Oh well, I'm sure it'll be a slaughter then. Poor Lions. Nick: Let's hope so. Let's hope so. Marc: The poor Lions. I just have no faith anymore after 30 years. Well anyway, let's get into warning sign, right? There's a warning sign right there that maybe I should move on. But let's talk about a couple different things. Yeah, this is a pretty big one, this first one actually. So many people are getting ready, as they get ready for retirement, maybe they come in to see an advisor for the first time and they truly have no idea what it costs to fund their lifestyle. That's kind of a big red flag. And I think many people come in to see folks like yourself the first time. They also kind of undershoot that number. Right. Oh, it'll only take us three grand to fund our lifestyle. And you start digging in, you're like, no. So they have no idea. Nick: Yeah. Yeah. Usually the most painful process of the...

There are plenty of decisions that you’ll make in the retirement planning process that can’t be undone, so you want to make sure that you make the right call. On this episode, we’ll explain why these decisions are so important and can’t be undone. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Speaker 1: Back here for another edition of Retirement Planning Redefined with John and Nick once again, joining me to talk about getting things right the first time. There are some irreversible financial decisions or close to it in retirement and there's plenty of things we've got to deal with. So we want to make sure we get it right as often as possible, right out of the gate, because some of these things just cannot be undone. So you guys being in Florida, mulligans, everybody plays golf. Mulligans are a thing, for sure. You didn't see that? Some mulligan, its a give me. Let me do it again, kind of thing. But there's things in retirements that you just got to get right the first time. So that's going to be the topic this week. Nick, what's going on, buddy? How you doing? Nick: Good. Good. Staying busy. Speaker 1: Yeah. Keeping rocking and a rolling. John, how you feeling my friend? John : I'm feeling good. I'm feeling good. I'm looking forward to this topic. I'm actually a couple of weeks out from finish some construction in my house and I wish that the original builds and plumbers got it right and knew how to glue some pipes that wouldn't have caused a leak down the road. But anyhow, Speaker 1: Yes. John : Looking forward to getting that construction done, so. Speaker 1: Yeah, I tell you what, that's a great point. Right. So we all want people to do their job right the first time. Certainly when you hire someone, that's what you expect. But these are some decisions that many people do to themselves because so many people DIY retirement. Right. One of the benefits to turning to financial professionals like yourselves is to get these things right so that you don't have to worry about having these issues that can't be undone. So let's walk through a few of these. We're going to start with a biggie. Again, there's a little caveat here, but for the most part, once you turn on social security, it is what it is. So you have to be sure that you're, especially if you're activating it early, that this is what you want to do. There technically is a do over, but most people don't really go through it. So kind of explain if you will guys. John : Yeah. So this is a big one because social security equates to roughly 30 to 40% of kind of average households retirement income going into retirement. So it's important. And Nick and I, everything we kind of say goes back to the planning and this can't be stressed enough because once you start taking...

We always talk about the money side of financial and retirement planning. But what about the mental aspect of that big life change? Today we’ll break down an article written by a Licensed Professional Counselor (Kate Schroeder) for Psychology Today, titled The Psychological Investment In Retirement. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Speaker 1: Welcome into another edition of Retirement Planning Redefined. Thanks for hanging out on the podcast with John, Nick and myself, as we're going to talk about retirement planning from a psychologicalist... Can't talk, from a psychologist point of view. Say that three times fast. What's going on, guys? How're you doing this week? Nick: Pretty good. How're you doing? Speaker 1: Apparently I can't talk, but other than that I'm doing all right. What's going on with you, John, my friend? How're you feeling? John: Pretty good. I think last time we spoke, I don't know if I mentioned in the podcast, I was getting ready for kind of lumbar spine surgery. So, four weeks out and feeling pretty good, so everything went well, as far as I can tell and looking forward to rehabbing and getting back to normal. Speaker 1: Good. Good to hear. Nick, my friend, I think we're taping this just before the beginning of September. You and I are, I think John is too, football fans for sure. And so, it's just around the corner. By the time we drop this podcast, it should be out. So, looking forward to the new season? Nick: Oh yeah. Yep. Bills are opening up this season next Thursday night, so [inaudible 00:00:57] I'm pretty excited about that. Yeah. Speaker 1: Very good. Very good. So good. Well, that's always a fun time of the year for a lot of sports fans, so they'll be happy to have that back. But let's talk about, and I guess if you want to think about that analogy for a second of sports fans, we get kind of... Lots of people, sports fans get pretty depressed when the football season ends or whatever season it is that they're into, sport they're into. And then they get rejuvenated when it gets closer. Well, if you think about this from a retirement planning standpoint, a lot of people get pretty stressed, clearly, it's a big difference, I understand, but I'm just kind of using that as an analogy to when it comes time to making that shift from working into actually being retired. So, there's these big mental hurdles, if you will, to major life changes. So, we'll put the link in the show notes as well, but we'll break down this article written by a licensed professional counselor, Kate Schroeder, hopefully I'm saying that right, for Psychology Today and titled The Psychology of Investing for Retirement... Excuse me, The Psychological Investment of Retirement. As I mentioned earlier, I can't talk today....

Finding yourself between jobs can be frustrating—whether you were fired, laid off, or just had to step away of your own choosing. But it can also present some opportunities. Let’s discuss some of the challenges and opportunities that you need to consider if you’re between jobs. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Speaker 1: It's time for another addition of the podcast. It's Retirement Planning Redefined with John and Nick and myself, and talking about considerations to ponder if you find yourself between jobs. Guys, I want to frame this from the standpoint of 50 plus, okay? So, and maybe in that pre-retirement stage. Obviously we've seen the great resignation the last two years, people leaving jobs, fired, laid off, downsized, had enough, don't want to go back to work, dealing with COVID, the fear of COVID, whatever it might be. Just that mindset of changing jobs later in life. Some challenges to be aware of. You guys got a lot of clients of various different ages, but again, I want to look at this from an older standpoint. If you've got references from a younger standpoint as well, but I'd like to look at this from a retirement type of standpoint. So let's jump in and get started because I know we're up against the clock today. But first how you doing John? John: I'm doing all right. I'm on day 12 of COVID and looking forward to this slight congestion to go away. Speaker 1: Fantastic. John: Other than that I'm good. Speaker 1: Oh, yeah. Well, day 12, that's no fun. So all the best to get better soon. Nick, what's going on my friend? How you doing? Nick: Better than John. Speaker 1: Fair. Fair point. Nick: Yeah, just got back from some traveling up north to my hometown in Rochester, and I go each summer and it's always kind of a good reset for me. Speaker 1: Yeah. Nick: So times with friends and family and a little bit cooler weather. Speaker 1: I was going to say you got away from the heat didn't you? Nick: Yeah. Honestly it was still pretty darn hot up there a lot of the time. Speaker 1: Yeah. Nick: But cooler than here. Speaker 1: Well, let's dive in and take a look at some of these things. So again, whatever reason you've left, fired, laid off, walked away, you're own choosing, whatever. If you're 50 plus guys, maybe it's not the worst thing. I want to try to look at a couple different angles. Maybe it's time for a new career. I've talked to so many people who are like this job is super stressful, it's just wearing me down, and you add all these other elements in the modern world of what we got going on. And some people just want to kind of scale back. If they're financially in shape, it's not the worst idea to maybe look for something that brings you some better joy and less stress. What...

Don’t dread this as much as you hated hearing these words as a kid, but it’s time for a pop quiz! We’re putting retirement planning preparedness under the microscope with 5 critical questions to which you need to know the answers. So sharpen those pencils and let’s see how ready you are for retirement. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Speaker 1: Welcome into the podcast. It's Retirement Planning Redefine with John and Nick and it's pop quiz time. We're going to have a little fun here with a retirement pop quiz. And don't worry, it's only five questions and it's multiple choice. So we make this pretty easy. Guys, did you enjoy pop quizzes? When you hear that phrase, do you automatically get filled with dread or with joy? Nick, I'll start with you. How you doing buddy? What's going on? Nick: Oh, pretty good. Fortunately, I was a pretty good test taker, so never bothered me that much. Speaker 1: Okay. Nick: But, so I luck out that way, but I know a lot of people dread it. Speaker 1: Oh, for sure. Well, you know what? You are the first person, congratulations that I've talked to when I've doing the pop quiz that have said, all right, let's do it. I have no problems with it. Nick: I don't know if I can go that far, but yeah. Speaker 1: Oh, there you go. Nick: At least not depressed. Speaker 1: Not depressed. Okay. John, what's going on my friend? How you doing? John: Ah, doing all right. Speaker 1: Yeah. John: I was in between, it depended on the class. Speaker 1: Okay. Okay. John: If was something I enjoyed, Speaker 1: Yeah. John: It was, let's roll. If it was something I dreaded, I was like aw man. Speaker 1: I think that's fair. I think, well, this, John: Got to throw this at me right now. Speaker 1: Yeah. I think that's fair. But this should be pretty easy, because this is right up your guys' alley obviously. Right. So this is retirement planning, pop quiz. So folks can play along with us here. I'm going to basically give you guys the question, give you the multiple choice answer. Let you give us the best answer from the choices. And then if you'd like to elaborate on something different or why none of them are a good idea feel free to do that as well. And I can never hear pop quiz anymore without thinking of the movie Speed from the 90s now. I only hear the Dennis Hopper going pop quiz, punk. Nick: Great movie. John: That was just on TV the other day. I was scrolling and I saw, and I'm like, oh man, like Nick just said, this is a really good movie. Speaker 1: It's a remote dropper. Yeah. John: Yeah. Speaker 1: Yeah. You'll drop the remote and watch it. So, pop quiz for the guys here. Let's see how we do. This is kind of just a retirement pop quiz, just five basic...

We’ve assembled a list of priorities to keep in mind as you count down the days to retirement. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Mark: Hey everybody. Welcome to the podcast. It's retirement planning, redefined with John and Nick and myself talking about the countdown to retirement. What to do on those days, as we're getting closer, working our way towards it. We've assembled a list of priorities to keep in mind, as you are counting down those days to retirement. And we were getting ready to get this podcast started and we were kind of laughing at some of the things that we seem to run out of in this whole supply chain issue, had ourselves a good giggle along the way. So hopefully we'll have a good podcast for you to tune into as we talk about these things, because there's some good stuff on here. And guys at the time we're dropping this, I think we're going to drop this right after Memorial Day if I'm not mistaken. Anyway, it's right around it. Mark: And Memorial Day is kind of the unofficial kickoff to summer. It's not technically summer yet, right? I think it's what June 20th or something like that. But when we get to 50 and a lot of times, if you want to think about this countdown 50 plus, it's kind of the unofficial kickoff to retirement. We're not actually retired yet, but we start thinking about it, paying more attention to it. So on and so forth. So John, the first one on my list is getting healthy and staying healthy. Many of us develop chronic issues in our 50s. So it's a good time to put some thought onto this so that you can actually enjoy those golden years. John: Yeah, 100%. I would even because I'm sure, I don't know in the previous podcast I talk about my health issues, but I think it's important for everyone at any age, especially though I will say 50. Mark: True. John: Focusing on health and getting to the gym and just do whatever makes you feel good. But when you have an health issue and you can't do the things you were doing, I'll tell you it's quite a, it's a challenge. It's quite upsetting. And I'll say from the clients that we work with, we see a big difference in those that actively in retirement are working out, maybe seeing a trainer a couple of days a week to those that are not. And as you age, I think it's more, it's very important just to stay active because you're not recovering like you were in your 20s. Mark: No, I think that's a great point. I like that too. Yeah, we should start sooner. Right. But if you kind of want to put a, some sort of a time table or something to it when we get, and it kind of works with our conversation for retirement, just get there, start making some of these changes. So you can really enjoy what we call the go go years. Right. So when we first get to that...

There are plenty of external factors that often negatively influence our chances of having a successful retirement. But often, failure comes from within. On this episode, we’ll talk about some of the common ways people get in their own way when it comes to financial planning. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Mark: Hey, everybody. Welcome into another edition of the podcast. It's Retirement Planning Redefined with John, and Nick, and myself. And we're going to talk about the secret to retirement success. Here, it is. Get out of your own way. Typically, we are the success or the reason for failure, one of the two, because we tend to muck up the works ourselves by often injecting our emotions and thoughts into these things. And rightfully so, because that's part of it, which I think, again, we're going to talk about the value of working with a team and some professionals like John and Nick, because we tend to get in our own way. And I think we all realize that we do that in many aspects of life, and certainly money is one of those. What's going on, guys? How you doing this week, Nick? What's up buddy? Nick: Everything's great. Perfect. Mark: Yeah. Rock and rolling? Nick: Yep. Mark: Feeling good? Nick: Yep. It's great. Mark: That's fantastic. John, how you feeling my friend? John: Doing all right. A little upset over the weekend. The Celtics lost game three to the Miami Heat, but there's another game tonight. So- Mark: Another chance. John: Hoping that they could tie up the series. Mark: There you go. Fantastic. Well... Nick: Yeah. I'll throw in a good gold [inaudible 00:01:01] lightning, our own fire. Mark: Okay. Nick: Free nothing as we record this. Mark: Nice. Very nice. So what do you think about my statement there, getting out of our own way? There's lots of external factors obviously, that negatively influenced stuff in our retirement world. Right? We can't control the markets, but we can control how we react to them. Do you feel like that's a fairly accurate assessment of finding some keys to success sometimes is, getting out of your own head? John: Yeah. Yeah. I would 100% agree with that. And we're seeing that right now where the market is, it's down year to date. There's a lot of negative news out there and, there's always negative news out there. But there's a lot of things happening in the world and it's creating a lot of fear. And what that does is it really eats into people's perceptions of what's going on with their portfolios. So naturally what's happening is, hey, when is the bleeding going to stop? Do I need to pull out of the market? Do I need to get more conservative? What should I do? So this is really a period of time where, important to get out of your own way and just...

There are some important terms you’re going to come across as you prepare for retirement. Having a basic understanding of these will help you achieve financial success, so we’ll cover what they mean and what you should know on today’s episode. And don’t worry. We won’t go quite so far down the rabbit hole where we expect you to be able to explain how a company’s P/E ratio meshes with it’s Alpha and Beta ratings to determine how much stock you should buy. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Mark: Hey everybody welcome into the podcast. Thanks for hanging out with John and Nick and I, as we talk about Retirement Planning Redefined here on the podcast. As always, don't forget to subscribe to us on whatever platform you like to use. Find all the information you need at pfgprivatewealth.com. That's the guys website pfgprivatewealth.com. Lot of good tools, tips, and resources to be found there. We're going to have another conversation today about some financial jargon. This is more kind of investment terms you might want to know or have heard and maybe you want to get a better understanding on, especially if you're sitting down and you're shopping for a professional or something like that. You want to kind of understand some of these things that you're talking about. Now we're not going to go super deep. We're not going to get into PE ratios and alphas and betas and all that kind of stuff, but we're going to keep it kind of high level. So we'll jump into that this week on the podcast, Nick, what's going on, buddy? How you doing? Nick: Pretty good. Pretty good. Staying busy. We're recording this, just kind of closing up tax season. So happy that that is over for- Mark: I bet. Nick: Everybody that is at least not filing an extension. Mark: Yeah. Nick: But yeah, it's obviously a lot going on in the world. So it's been keeping us pretty busy. Mark: Yeah that's true. Very true. John, what about you buddy? You glad tax season's over? John: Yeah. Yeah. It's a fun kind of hump to get over. Mark: I like that little pause. It's fun. Yeah. John: Yeah. So, no, it's good. It's kind of a mark that people have on their calendar, so that's over with, and really we start to kind of get busy afterwards. Mark: Yeah. John: Because a lot of people kind of delay meetings until after tax season, so excited to get back at it. And then also excited that NBA playoffs started. So Boston Celtics are playing the Nets right now. Mark: Alright now, there you go. John: Gearing up for that, so- Mark: There you go. Very good. Well we probably should have done a show really on tax planning versus tax preps right after tax season because really tax planning is something you should be doing all year long with your retirement...

There are certain age milestones where you should really pay attention to your retirement planning progress. On this episode, we’ll look at the most important birthdays as you approach retirement and cover the exact things you should be checking off your to-do list at each age. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Mark: Hey, everybody. Welcome into another addition of the podcast. This is Retirement Planning Redefined, with John and Nick and myself, talking investing, finance, retirement, and birthdays. Mark: We're going to get into important birthdays in the retirement planning process. As we get older, I don't think any of us really want birthdays, but these are some things we need to know. They're pretty useful. Some of this is pretty basic. Some of this stuff's got some interesting caveats in it as well. So you might learn something along the way. It can go a long way towards that retirement planning process. Mark: We're going to get into that and take an email question as well. If you've got some questions of your own, stop by the website, pfgprivatewealth.com. That's pfgprivatewealth.com. Mark: John, what's going on, buddy? How you doing? John: A little tired. Got woken up at 2:00 in the morning with two cranky kids. Mark: Oh yeah. John: So if I'm a little off today, I apologize. Mark: There you go. No, no worries. You get the whole, they climb the bed, and then you're on the tiniest sliver? John: I got one climb into bed, I think kicked me in the face at one point. Mark: Oh, nice. John: Another one climbed into bed missing out on the other one, because they share a room. Then I had the sliver. I woke up almost falling off the bed. Mark: There you go. And usually freezing because you have no blankets. John: Yeah, yeah. Mark: That's usually the way it goes. Nick's sitting there going, "I don't know what you guys are talking about." Mark: What's going on, buddy. How you doing? Nick: Yep. No. Pretty low maintenance over here. Mark: Well, that's good. Hey, don't you have a birthday coming up? Nick: I got a couple months still. Mark: Okay, a couple months. Nick: Yeah, I just got back from a trip a few weeks ago. Some buddies that I grew up with, a group of us have been friends for a really long time, I guess, going back to middle school. We're all turning 40 this year, so we rented a house in Charleston, and all survived. Mark: Nice. There you go. Nick: Yeah. It was good. John: This is how you know Nick's turning 40. He came back with neck pain. Mark: Exactly. Nick: Yeah. Mark: Hey, when you start to get a certain age, you start going, "When did I hurt that?" It's like, "I didn't even do anything." Yeah. You don't have to do anything. Mark: Well, you know...

There are certain things in life we just can’t predict. If we knew the answers to some of these questions, planning for retirement would sure be a lot easier. So let’s see how you go about constructing a plan that addresses the kinds of questions to which you can’t possibly know the answers. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Speaker 1: Hey everybody. Welcome into another edition of Retirement Planning Redefined with John and Nick from PFG Private Wealth. Find them online at pfgprivatewealth.com. That's p-f-g-private wealth.com, where you can check out a lot of good tools, tips, and resources, schedule some time with the team or subscribe to the podcast on whatever platform you like to use. And on the podcast us this week, we're going to talk about planning for things that we cannot predict. There's many things in life that are just out of our control, and we can't predict. Yet, we somehow have to figure out a way to bring these things into the fold when it comes to our retirement strategies. And if we knew the answers, these things would be a lot easier to do, right? Just like saying, if we knew when we were going to pass away, you guys could build the greatest plan anybody's ever seen, but we don't come with a timestamp on us. So we have to figure out a way around some of these complicated questions and construct a plan that handles these, but also works with the unknown. So we'll get into that in just a second, but what's going on, Nick? How are you doing? Nick: Doing pretty good. Thanks. Speaker 1: Yeah, how's the old puppy doing? I've got mine next to me right now while we're taping. Nick: Unfortunately she passed like a month ago. Speaker 1: Oh, I'm sorry, buddy. I didn't mean to do that. Nick: It's all right. Oh yeah, no, I don't take it like that. I was going to say something earlier and then I just kinda left it, but yeah, it's been a bit of a crazy month. Speaker 1: I gotcha. I'm sorry to hear about that. It's always rough when we lose our little furry friends there as well, but hopefully things will get better for you. And we'll talk about something, you can't predict that kind of stuff. Right? We'll get into that kind of conversation here in a second. John, what's going on with you? John: Today's topic is pretty fitting. I couldn't predict that the house I bought had a loose AC drain and currently all the floors in my master bedroom and hallway ripped up. It's going well, as well as can be. So we're adapting to the renovations in our house currently. I just send Nick some pictures of it and he's like, whoa. Speaker 1: Oh, wow. Well, I put my foot in my mouth already to start the show, so we'll get into it. But I guess that fits really well though with the over conversation is, because there's a lot...

On this episode, we’ll breakdown a recent CNBC article that analyzes a recent Morningstar study. The study found that most of us have at least one money bias, some of us more than one, and that those biases are very possibly costing us money in our checking, savings, investing and retirement accounts. Listen to see if you might be impacted by a specific money bias and for strategies to get it back under control. Helpful Information: CNBC Article: https://cnb.cx/3KKXSHf PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Mark: Hey, everybody. Welcome back to the podcast. It's another addition of Retirement Planning - Redefined with John and Nick from PFG Private Wealth. We got to fun and interesting podcast this week to talk about, money biases and what those are, and are they costing you a little bit? If you have a money bias and you're going to be probably surprised to find out that you indeed do most people, I think do have biases about a lot of things. So, that's going to be on the podcast this go around. And of course, if you've got questions you need some help, always reach out to theguys@pfgprivatewealth.com. That's p-f-g, private wealth.com. John, what's going on, buddy? How you doing? John: Hey, doing good. How are you? Mark: Hanging in there. Doing pretty well. We were chatting a little bit off air and just talking about life, moaning and groaning a little bit, but overall you're doing okay? Hanging in there? John: Yeah. Yeah. We, we just wrapped up a golf tournament that we hosted with Bern's Steakhouse. It's our second one. Mark: Nice. John: Yeah. Finalizing the numbers, but looking like a pretty decent donation to a couple of local Tampa charities here, which are Blue Star Families and then Jackson In Action, 83 Foundation, both a military base. So, so we're excited. It was a great event and we look forward to delivering the check soon. Mark: That's fantastic. Awesome. Nick, how you doing my friend? Nick: Doing pretty good. It's been a little bit of a crazy month, but have some vacation coming up, which will be nice, although I'm going to Key West and it'll be my first time going there, so... Mark: Okay. Nick: I'm looking forward to seeing what that's like. Mark: Well, I don't know how you're getting there, but I filled up my truck yesterday and it cost me triple digits for the first time. It was over a hundred bucks. Nick: Yeah. Luckily I'm flying. So... Mark: All right. Nick: We're good to go. Mark: Well, the inflation numbers came in for February 7.9%. I don't know if you guys saw that at the time we're taping that they just came out this morning, so yay. Right? So people are definitely frustrated and we're kind of concerned. There's a lot going on, obviously the stuff in the world and the market's been reacting...

In football, teams are extra careful not to make a mistake when they get within about 20 yards of scoring points (known as the Red Zone). They’ve typically worked hard to get to that point and don’t want to cost themselves by throwing an interception or fumbling the ball and giving it to the other team. On this episode, we’ll explore the financial equivalent of the Red Zone and discuss how you can really mess things up if you’re not careful during this phase of your life. If you’re approaching retirement, this is a fundamental conversation you won’t want to miss. Helpful Information: PFG Website: https://www.pfgprivatewealth.com/ Contact: 813-286-7776 Email: info@pfgprivatewealth.com Disclaimer: PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance. Transcript of Today's Show: For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/ ----more---- Marc Killian: Hey everybody. Welcome back into the podcast. It's time to talk football a little bit here on retirement planning, redefined with John and Nick. We always talk finance, investing finance and retirement, and we're still going to, but we're going to talk about not fumbling your retirement in the financial red zone. We are in the playoffs at the time we are dropping this. Now we are recording just before they're starting. They're starting this weekend. And so this will come out while the playoffs are rocking and rolling, but that's all right. We're still going to talk about this analogy, because it works really well for this time of year. And we'll get into that in just a second. But first let me say, Hey to the guys. Marc Killian: Nick, what's going on, buddy? How you're doing? Nick McDevitt: Good. Nick McDevitt: This was a good reminder to ask John on when I'm going to get paid for my second place finish in the Fantasy Football League. Marc Killian: Nice. John Teixeira: I don't know what Nick's referencing here. We do not gamble here, so I'm going to give Nick a nice handshake and pat in the back for drafting the second best team in the league. Marc Killian: There you go. Okay. Well what's going on with you, John. You're doing all right? John Teixeira: Doing good. Trying to get some recapping from our last session of their great resignation, and actually trying to get some contractors to send me an estimate based after they came to my house has been a challenge. Marc Killian: Right? I know. Marc Killian: I was talking with some contractors not too long ago and they're like, right now, all I got to do is show up and I get like 50% of the jobs, you know? John Teixeira: Yeah. Marc Killian: And, they're not wrong, you know? So there's a lot going on. Well, I know you guys are both football fans and guys both come in from the same division, actually. We got a Patriots fan and a Bills fan. So living in Florida, which is interesting, and especially considering that you got radio right around the corner now, but either way, we're going to talk about this financial red zone and football and a little...