Your Financial Compass with Bulman Wealth Group

Retirement is a milestone many of us eagerly anticipate, but it also marks a significant change in how we manage our finances. Instead of a regular paycheck, we'll rely on various income streams. So, what income streams will you have in retirement? And how can you plan for this stage before you retire? In today's episode, we'll cover all of that and more. Here’s some of what we discuss in this episode: WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

The 60/40 strategy, which involves investing 60% in stocks and 40% in bonds, has long been a go-to for risk-averse investors. But does this approach still hold its ground in today’s fast-paced market? Stay tuned as we explore the past, present, and future of this investment strategy and determine whether it’s still a cornerstone of wealth management or if it’s time to adapt to new realities. Here’s some of what we discuss in this episode: WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

With the abundance of online advice and self-directed retirement accounts gaining popularity, many are left wondering if going solo is the right move for them. In times of economic stability, it's easy to overlook potential risks and losses, especially when every investment seems like a winner. However, as markets fluctuate and retirement regulations evolve, the DIY approach could come with more risks than expected. Here’s some of what we discuss in this episode: WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

Unfortunately, we’re still seeing the impact of record-high inflation in today’s market. As interest rates may not decline as rapidly as anticipated, retirees face the additional challenge of market volatility impacting withdrawals from IRAs, 401(k)s, Roth IRAs, and other brokerage accounts. So, what are some ways to combat this? Join us as we share some practical tips for aiming to protect your retirement against inflation. Here’s some of what we discuss in this episode: WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

There are a handful of important age milestones that you should be aware of in the retirement planning process. While some of them are more well-known, others can easily fly under the radar. Stay tuned as we cover the important birthdays you need to pay attention to from catch-up contributions at age 50 to taking RMDs at age 73. Here are the milestones we discuss in this episode: WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

If you’re a Gen Xer, born between 1965 and 1980, you might be starting to think about your transition into retirement. Moving into this new phase not only means imagining how your daily life will change but also having a clear understanding of your finances. Join us as we share some important things to consider as you approach this major milestone. Here’s some of what we discuss in this episode: WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

Welcome back to Your Financial Compass! In today’s episode, we’re diving into the key distinctions between Traditional and Roth IRAs and 401(k)s. If you've ever wondered about the differences, pros, and cons, this episode is your guide to understanding these essential financial instruments. Here’s some of what we discuss in this episode: Resources for this episode Check out the CNBC article on 401(k)s WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

In today’s episode, we are excited to introduce you to a key member of the Bulman Wealth Group team- Marcos Lemus. Marcos has been with us for about 2 years now and has recently transitioned into a new role as a service advisor. He joins us today to share more about his background, his journey into finance from the education and technology sector, and his passion for problem-solving and life-long learning. Here are some key takeaways from this episode: WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

We spend a lot of time talking about how to save enough for retirement, but is there such a thing as saving too much? Some experts say that retirees will need 70-80% of their pre-retirement income to sustain a comfortable lifestyle, but recent studies show that many retirees are spending significantly less than these benchmarks. Join us for a thought-provoking conversation on how spending habits can change as you age. We’ll talk about finding a balance between saving diligently for retirement and enjoying life’s experiences along the way. Here’s some of what you will learn in this episode: Links From Today's Show: https://www.investopedia.com/articles/retirement/07/save_too_much.asp https://finance.yahoo.com/news/saved-too-much-retirement-wish-120026207.html WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

While no one really enjoys paying taxes, we all know it’s a given, and we expect it every year. What makes it worse is getting hit with a tax bill that you never expected. Certain moments in our financial lives can and will trigger tax events so we want to make sure you’re mindful of them, explain what they are, and share some ways to stay ahead of these tax surprises. Here’s some of what you will learn in this episode: Show Sources: https://www.kiplinger.com/retirement/retirement-planning/605109/is-your-retirement-portfolio-a-tax-bomb https://fnrpusa.com/blog/how-defer-capital-gains-tax/ WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

If you've ever felt overwhelmed or intimidated by the idea of a fixed retirement number, advertised by some financial institutions, you're not alone. In this episode, Scott debunks the retirement number myth, explaining that your retirement number is not just a single, daunting figure, but instead a combination of different income streams that work together. Join us as we walk through a hypothetical scenario of John and Jane’s retirement plan and illustrate how Social Security, pensions, and other sources of income can significantly contribute to reaching your financial goals. We’ll also take a look at how inflation impacts your retirement planning and more. Here’s some of what you will learn in this episode: (4:42)(10:32)(14:38)WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

xx WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

As we approach retirement, it's crucial to shift focus from accumulating wealth to preserving it and creating a sustainable income. Determining the monthly income needed to cover your expenses and controlling your withdrawals is essential, but more complicated than it might sound. In this episode, Scott will break down the crucial difference between wealth preservation and income generation and then dive into the ideal amount of cash to have in your savings account. Here’s some of what you will learn in this episode: (2:20)(7:18)(10:38) (13:29)(16:10)WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

One question that comes up a lot from our clients that are in their 60s and starting to ponder Social Security is what benefits are available to spouses? Today we’ll break it all down for you and explain everything you need to know about spousal benefits. You might be able to claim a benefit of up to 50% without cutting into your spouse’s amount, and this could still hold true if you’ve gone through a divorce. Join us to hear the specifics on how it all works. Here’s some of what you will learn in this episode: (3:59) (6:07) (10:22)(12:22) (13:58) Additional Resources: https://www.forbes.com/advisor/retirement/social-security-spousal-benefits/ https://www.ssa.gov/planners/retire/applying6.html https://www.ssa.gov/planners/retire/retirechart.html WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

Buckle up, because today we’re diving into the recent buzz around digital currency in the United States. As you might’ve heard, the Federal Reserve recently announced its openness to experimenting with the development and implementation of a digital U.S. dollar. While this possibility may seem daunting, there's no need to panic just yet. It's a multi-faceted issue with many layers to consider, and it is certainly not set to happen anytime soon. However, it's a topic worth exploring, and that's exactly what we're going to do today. In this episode, we'll take a closer look at what this could mean for the U.S. dollar, why it's being considered, and the pros and cons associated with it. Here’s some of what you will learn in this episode: (3:08)(5:08) (6:05) (10:40)If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. REFERENCES FOR THIS EPISODE: https://www.nbcnews.com/politics/politics-news/desantis-rfk-jr-misconstrue-fednow-digital-dollar- plans-rcna78591 https://www.investopedia.com/us-cbdc-6740586 WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

Following the collapse of Silicon Valley bank, you have probably heard a lot of talk about America’s banking situation in the last few weeks. Today, we are here to unpack what happened with the Silicon Valley Bank collapse and whether we should be concerned about other banks as well. We will also take a deeper look at banking insurance and discuss what FDIC insurance covers and what it does not cover. Here’s some of what you will learn in this episode: (2:04) (9:52)(14:08)(19:47)WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

The future of Social Security is a concern on the minds of all Americans. People are constantly wondering whether the money will run out before it comes time to claim their benefits. While the worries are justified, there’s a good chance the government will make changes to the program to keep it funded for generations to come. We want to take time on this podcast to make sure you understand what the changes mean and how they could impact you and younger generations. Here’s some of what you will learn in this episode: (2:00)(6:04)(9:59)(11:27) (14:40) Read the CNBC article: https://www.cnbc.com/2023/03/04/social-security-reform-may-mean-changes-to-retirement-age- payroll-tax.html WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

On episode 12 of Your Financial Compass, Scott has some great advice for empty nesters. You might think your budget's about to open up when the kids move out, but a recent study shows that parents don't always end up with more money in their pockets. Scott explains the challenges of lifestyle inflation and gives some tips on where to invest those extra dollars if you’re able to stay disciplined. But it's not just about the money. Scott also talks about the softer side of retirement planning - creating a life plan for retirement and finding ways to spend your time that bring value to your life and those around you. If you're an empty nester or just getting ready for retirement, you don't want to miss this episode. Here’s some of what you will learn in this episode: (3:34)(8:45)(11:40)(14:00)If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. Yahoo! Article About Empty Nesters Mentioned In The Episode: https://finance.yahoo.com/news/empty-nester-avoidable-mistake-could-140059606.html?guccounter=1 WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

On episode 11 of Your Financial Compass, Scott introduces us to a strategy that can help you achieve your financial goals in retirement - The Bucket Strategy. The Bucket Strategy is a simple yet powerful approach to organizing your investments and ensuring that you have a reliable stream of income in retirement. It consists of three "buckets" - Safety, Income, and Growth. In this episode, we'll be exploring each of these buckets in detail and discussing how they can help you achieve financial security. Scott will provide specific examples of what kinds of investments you typically see in each bucket and how risk and time horizons play an important role in utilizing the strategy. By the end of this episode, you'll have a clear understanding of The Bucket Strategy and how it can help you achieve financial security. Here is some of what you will learn in this episode: (1:10)(2:27)The Income Bucket(3:26)The Safety Bucket(6:50)The Growth Bucket(8:42)WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

Last year was a very turbulent year in the stock market and many people will look back on 2022 without many good things to say, but some positives emerged out of the turbulence. Today we’ll share one of those for us and that was our exposure to Innovator Funds. Bennett Feyerer, External Sales Consultant with Innovator, joins us today to talk about these Defined Outcome ETFs or ‘buffer funds’ as we call them. We’ve been utilizing them quite a bit since the market turbulence started and wanted to tell you about them on this podcast. Here is some of what you will learn in this episode: · Background on Bennett and Innovator. (1:40) · How these buffer funds work. (4:01) · How the downside buffer stays the same but the cap changes. (7:29) · What Innovator does to stay competitive in this space and provide for its investors. (12:12) · The bond alternative product they offer that works on a shorter time frame. (14:38) · How might these funds change in the coming years as economic conditions change? (16:01) WAYS TO CONNECT: Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team. If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.