In this conversation, Chris and John of Prospect Wealth Advisors discuss the importance of having a comprehensive retirement plan and estate plan. They emphasize the need for a customized plan that takes into account individual goals and circumstances. They also highlight the significance of having a reliable income plan and considering potential changes in taxes and social security. The conversation touches on the importance of estate planning and the potential consequences of not having an up-to-date plan. Chris and John offer a free financial plan review and an estate planning offer to help individuals navigate their retirement and estate planning needs. In this conversation he discusses the importance of estate planning and share stories of celebrities who neglected to update their estate plans, resulting in unintended consequences for their loved ones. They emphasize the need to regularly review and update estate plans to ensure that assets are distributed according to the individual's wishes. The conversation also touches on topics such as Roth conversions, diversification in investment portfolios, and the benefits of having a comprehensive estate plan.

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The conversation discusses the dangers of risk in retirement planning and explores risky investments and behaviors. It also touches on the importance of estate planning and offers a special deal for estate planning services. The hosts emphasize the need for risk management and balancing risk with potential returns. They discuss the advantages and disadvantages of a risk-on retirement strategy, as well as the characteristics of a risk-off strategyThe conversation covers various risky investment options, including stocks, cryptocurrencies, forex trading, and commodities. The hosts emphasize the importance of understanding risk tolerance and having a diversified portfolio. They also discuss the value of comprehensive estate planning and the benefits of working with a financial advisor. The episode concludes with a game about celebrities who died without an estate plan.

Reach out to Chris or Jon at 602-497-1322 or https://www.prospectwealthadvisors.com/

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In this conversation, Chris and John of Prospect Wealth Advisors discuss the common concerns and misconceptions that prevent people from seeking financial advice. They emphasize the importance of starting the conversation and offer a transparent and pressure-free approach to financial planning. They also discuss the significance of estate planning and the consequences of not having a plan in place. The conversation concludes with a discussion about the potential costs of retirement and the increasing life expectancy of retirees. People are living longer, which means retirement savings need to last longer. The documentary 'Live to a Hundred Secrets of the Blue Zones' explores areas where people live longer and have a good quality of life. Wealthier people tend to be happier, but many retirees struggle financially. Lifestyle choices in retirement can be expensive, such as travel and hobbies. It's important to have a plan and budget for retirement. RMDs and taxes are a concern for retirees. Revocable living trusts are more common and can be changed, while irrevocable trusts are used for tax purposes. Saving 20% of earnings for retirement is a good strategy.

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Some of the more common questions about retirement planning start with what, when and how–and in an effort to bring some clarity to the transition into retirement, we have a few pointers that you can incorporate into your plan a decade before the big day. Let’s dive in!

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This conversation discusses the perks and tax breaks available to individuals over the age of 50, as well as the importance of estate planning in retirement. It emphasizes the need for a comprehensive retirement roadmap and the benefits of working with independent financial advisors. The conversation also touches on the challenges of navigating the markets and the importance of controlling what you can control. The hosts play a game called 'Guess the Celebrity Who Died Without an Estate Plan,' highlighting the consequences of not having proper estate planning in place. In this conversation, Jackie Selby and his guests discuss various estate planning topics, including the importance of advanced planning, the consequences of not having an estate plan, and the benefits of a living trust. They also address questions about retirement planning, social security, and long-term care insurance. The conversation emphasizes the need to take action and not procrastinate when it comes to estate planning.

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In this episode of Nuggets of Knowledge, Chris and John of Prospect Wealth Advisors discuss the importance of financial spring cleaning and share lessons from college basketball that can be applied to financial planning. They emphasize the need for regular financial check-ups and the importance of reviewing spending habits. They also discuss the benefits of having an emergency fund and the role of insurance coverage in retirement planning. The hosts highlight the value of working with a financial professional to maximize investments and ensure a secure financial future. In this conversation, the hosts discuss the parallels between college basketball and financial coaching. They highlight the importance of having a great coach in both areas and emphasize the need for preparation and a solid game plan. They also discuss the role of trust and teamwork in achieving success. The hosts share their experiences of helping clients navigate the decumulation phase of retirement and the importance of celebrating victories with clients. They also address questions about managing IRAs, investing in CDs, and converting to a Roth IRA.

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A new study reveals that many Americans are struggling with personal finance concepts. Lack of access to formal financial education and reliance on social media for financial information are contributing factors. It is important for parents to educate their children about money and finances. Technology has made it easier for young people to invest and learn about finance, but caution should be exercised when relying solely on social media for financial literacy. Risk management, due diligence, compounding returns, diversification, and defensive and offensive investing are key principles to consider when investing.They emphasize the importance of understanding market cycles and adjusting risk levels accordingly. They also highlight the benefits of diversification and utilizing different investment vehicles to manage volatility. The conversation covers the significance of maintaining liquidity and having accessible cash reserves. They stress the need for a comprehensive financial plan that includes estate planning and powers of attorney. The hosts also address the advantages of contributing to a Roth 401(k) and the importance of reviewing and updating estate planning documents regularly.

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Semi-retirement, also known as partial or phase retirement, is becoming increasingly popular. Working part-time during retirement allows for a smoother transition and provides a trial period before fully retiring. Many people choose to work part-time in retirement to cover essential expenses. It is important to have a plan in place for retirement, including hobbies, exercise routines, and daily activities. Creating a budget, paying yourself first, consulting a financial advisor, and planning for estate planning are crucial steps to take in your 50s. Longevity and physical fitness should also be considered when planning for retirementThey highlight the cases of Howard Hughes and John Denver, both of whom died without an estate plan, leading to lengthy and contentious legal battles. The hosts emphasize the need for a living trust, which allows for privacy and efficient distribution of assets. They also address common concerns and misconceptions about estate planning, such as choosing a successor trustee and powers of attorney. The conversation concludes with a Q&A session on topics like Roth conversions and Social Security benefits.

Reach out to Chris or Jon at 602-497-1322 or https://www.prospectwealthadvisors.com/

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