Unlocking Your Financial Future

Ep 109: Estate Planning, Business Ownership And Beyond with Joel Cavanaugh (Part 1)

Today we are glad to welcome Joel Cavanaugh to the podcast. Joel is a partner at Hanna Rasnick Evanchan Palmisano Hobson & Fox LLC and handles a wide array of cases in estate planning. In this two-part episode, Joel will discuss his journey as an attorney and business owner and will answer your questions about estate planning.
 
Here’s some of what you’ll learn in this episode:
Joel shares how he became an attorney and what led him to own his own business.  (1:12)
Owning a business is a balancing act.  (6:55)
Joel shares how he balances being an attorney, father, and husband by being intentional with his time. (10:47)
“When you own a business, you are the business.” Joel reflects on what it’s really like to run a business. (12:33)
 
Learn more about Joel: https://www.businessandconstructionattorneys.com/attorney/joel-d-cavanaugh/)
For more, visit us online: https://baschrock-fg.com/

Ep 108: Financial Planning During Market Loss with Dan Oaklief (Part 2)

Today we are excited to be back with Dan Oaklief, RICP®, CPFA, one of our experienced advisors at BA Schrock Financial Group. For the past three years, Dan has been hosting informative webinars to educate clients on taxes, retirement, and social security planning. In part two of this two-part episode, we’ll talk about the impact of the current market on retirement planning and touch on some financial spring-cleaning tips.
 
Here’s some of what you’ll learn in this episode:
Some financial spring-cleaning tips from Dan. (1:29)
Coming off a bad year in the market, will I still be able to retire? (6:57)
Should I reduce my risks right now? (10:21)
Retirement plans are personal, and retirement goals will look different from client to client. (14:42)
 
 For more, visit us online: https://baschrock-fg.com/

Ep 107: Financial Planning During Market Loss with Dan Oaklief (Part 1)

Today we are excited to be joined by Dan Oaklief, one of our experienced advisors at BA Schrock Financial Group. For the past three years, Dan has been hosting informative webinars to educate clients on taxes, retirement, and social security planning. In part one of this two-part episode, we’ll unpack some of the common questions Dan receives from clients about financial planning.
 
Here’s some of what you’ll learn in this episode:
Some fun facts about Dan, including a story about the worst haircut he’s ever had. (1:11)
Some of the common questions Dan gets from clients about retirement and financial planning. (5:30)
What is phantom income and why is it important to address? (11:20)
Can you combat phantom income? (14:23)
 
 For more, visit us online: https://baschrock-fg.com/

Ep 106: How Retirement Changes Impact Finances (Part 2)

In this episode, we’re spending some time with BA Schrock’s Colleen LeMasters, CFP® to share our process for helping and assisting clients when the face these significant changes that disrupt life and retirement. This is a conversation that we can approach from multiple angles so we’ve broken it out into two parts. In part one we talked about these life changes from a non-retirement perspective.
Now we’re going to turn our attention to the retirement aspect of this conversation and the changes that often happen to people around this time.
Here’s some of what you’ll learn on this episode:
What is the most common change people face when someone goes from working to retirement? (1:26)
How interest rate changes impact your retirement plan and your ability to retire like you want. (4:18)
Will you lose your job if you stick around or pass up a buyout? (8:14)
What happens when you’re forced into an early retirement? (10:19)
How has income planning changed with the increase in interest rates? (12:33)
 
 For more, visit us online: https://baschrock-fg.com/

Ep 105: How Life Changes Impact Finances (Part 1)

The only certainty in life is that we have no idea what tomorrow will bring. Even the best laid plans can change in an instant, but a well-constructed financial plan will ease the burden during these life events.
In this episode, we’re spending some time with BA Schrock’s Colleen LeMasters, CFP® to share our process for helping and assisting clients when the face these significant changes that disrupt life and retirement. This is a conversation that we can approach from multiple angles so we’ve broken it out into two parts. In this part one, we’re going to talk about these life changes from a non-retirement perspective.
Here’s some of what you’ll learn on this episode:
Dealing with the loss of a spouse. (1:17)
Replacing lost income if something were to happen to you. (4:00)
How we can help someone going through the divorce process. (7:05)
What you should think about when you change jobs. (9:49)
No life change is too big or too small to ask for help. (13:48)
For more, visit us online: https://baschrock-fg.com/

Ep 104: What is the Certified Financial Planner Designation?

Anyone that’s looking for a financial advisor has probably see all the different designations people might have, but it’s tough for anyone outside of the industry to know what everything means. If there’s one you want to pay attention to when it comes to building a plan, it’s going to be the Certified Financial Planner (CFP®) designation.
 
Here’s some of what you’ll learn on this episode:
What was her experience of getting the CFP® designation? (2:24)
What drove her to get this and why was it important? (4:22)
Who all can carry the CFP® designation? (6:41)
How this will improve the work we do and how we can help clients. (8:24)
Ethics and integrity might be the most important thing about a CFP®. (9:55)
 
For more, visit us online: https://baschrock-fg.com/

Ep 103: SECURE Act 2.0 – Retirement Changes You Need to Know About

Another round of retirement changes are on the way after President Biden signed a spending bill in December 2022 that included the SECURE Act 2.0. Retirees and pre-retirees need to understand what this legislation means, how it might impact you, and what planning opportunities this could open up.
 
Here’s some of what you’ll learn on this episode:
The key differences in SECURE Act and SECURE Act 2.0 (1:06)
The age for RMDs is moving back even further. (2:52)
The penalties for missing RMDs is not nearly as significant. (3:59)
The big change to 529 plans that might give you more flexibility. (7:20)
Employers have the ability set aside money for student loan payments. (12:27)
Some lifetime income options inside 401(k) accounts will be available. Is that a good thing? (17:36)
 
For more, visit us online: https://baschrock-fg.com/
 

Ep 102: Market Risk with Colleen LeMasters, CFP®, ChFC®, BFA™

Today’s guest is Colleen LeMasters, CFP®, ChFC®, BFA™. Colleen is an Investment Advisor Representative and Insurance Professional at FIG.
In this episode, we will discuss market risk. There has been extreme volatility in 2022, and there is a lot we can learn from a year like this. Specifically, from a client management standpoint. Let’s discuss diversification and see what approaches we may want to take in 2023.
 
Here are some of the things you’ll learn in this episode:
Should we peel off gains in the oil and gas sectors? (3:51)
We should reevaluate risk tolerance with clients. (7:01)
Navigating difficult conversations with clients. (13:22)
 
For more, visit us online: https://baschrock-fg.com/