Unlocking Your Financial Future

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/

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/

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/

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/
 

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/

Welcome to part 2 of our ‘End of the Year Planning’ mini-series. I’m back with Dan Oaklief, RICP®, CPFA. In this episode, we will be focusing on year-end planning from a retirement standpoint.
Some pre-retirees hope to retire early but haven’t considered one of the more costly factors: health care. We connect our clients with a professional that helps guide them to the best option for their circumstances so they know they will be covered. Listen to hear some of the other important factors to approaching retirement.
 
Here are some of the things you’ll learn in this episode:
How we can help you navigate through applying for Social Security. (2:07)
You should know how much money you want to spend in retirement long before your retirement date so we can be sure your goals are aligned with your savings and investments. (4:31)
What you should consider about health care in retirement to make sure you are okay from a financial standpoint. (6:14)
For more, visit us online: https://baschrock-fg.com/

On today’s show, we will be discussing end-of-the-year planning with one of our Financial Advisors, Dan Oaklief, RICP®, CPFA. Our last episode touched on the current and future markets, and today we want to look at what you should consider as a retiree at the end of the year.
One large factor to consider is the Required Minimum Distributions. If you do not utilize your RMDs, you’ll be penalized 50% of what you should have taken out (in the following year). This is just one thing to consider of the many key points we will be touching on.
 
Here are some of the things you’ll learn in this episode:
What you should know about RMD planning. (0:42)
Here Dan shares a few strategies on RMDs. (4:00)
Here you can learn about IRAs and contributions for ways you can save. (9:01)
For more, visit us online: http://bashrock-fg.com

With the year coming to an end, you may be wondering what is in store for us over the next few months, as well as what 2023 with bring. While we can’t predict the future, we can certainly share our estimations of what may be coming.
History should be used as a guideline for our current markets, as it tends to repeat itself, but we also must consider the recent markets and current events that have shifted the tides. Listen as we discuss some market updates that you may want to know.
 
Here are some of the things you’ll learn in this episode:
Historical data is a great reference for gauging the upcoming market, but you also must consider the very recent market and events. (3:40)
Are we at the start of a year-end rally? (6:47)
Here we share year-end opportunities to look out for. (8:32)
For more, visit us online: http://bashrock-fg.com