Big Picture Retirement

David Stein, host of the Money For The Rest of Us podcast, will explain the importance of trade, and how the trade, and trade wars, might impact you and your retirement. For more information, visit the show notes at http://www.bigpictureretirement.net/066

Devin brings on special guest Andrew Comstock to talk about what's going on in the market and what we can expect moving forward

The Census Bureau has announced that by 2030, senior citizens (65 and older) will outnumber people aged 18 and under. What will this mean for health care costs and the security of pension plans? John and Devin also talk about a recent app that sold millions of people’s Facebook information. Is this truly a data breach of sorts? For more information, visit the show notes at http://bigpictureretirement.net/065

Each month or so, Devin and John devote an episode to answering listener questions. This week, they’ve picked two great questions submitted by listeners like you. Devin answered this question: “Is this a good time to invest?” John tackled the concern from a listener who asked: “Is there any way I can keep a nursing home from taking my Social Security?” For more information, visit the show notes at http://www.bigpictureretirement.net/064

Not all accountants are created equal. Some are just document processors. They get you in, do your return and send you on your way. Advice? Ha! Others actually care enough to ask the important questions and give you guidance that improves your tax outlook. For more information, visit the show notes at http://www.bigpictureretirement.net/hiring-right-tax-advisor/

You’ve probably heard the Biblical account of Jacob & Esau. Hidden within this story is a powerful lesson about estate planning that is still overlooked today. For more information, visit the show notes at http://www.bigpictureretirement.net/episode-002-lesson-from-jacob-esau/

As you approach your 60s, the hot question becomes, “When should I file for Social Security?” It’s an easy question, right? You just figure out when you’re going to die, and then do the math. Unfortunately, the world doesn’t work like that. Devin points out that the real question should be, “What if I live longer than expected? For more information, visit the show notes at http://www.bigpictureretirement.net/061

Should I buy long-term care insurance? Should I keep the long-term care insurance I already have? These are important questions, and there are no easy answers. Long-term care is expensive, but long-term care insurance is also expensive. When you start looking at some of the statistics, it can get scary. But thankfully, the statistics don’t show the whole picture. Once you consider all the issues and factors, the big question is managing the risk of needing financial assistance with long-term care vs. how much it is going to cost to manage the risk. There are three ways to pay for long-term care: 1) Self-funding through personal assets 2) Through access to government benefits, either VA benefits or Medicaid 3) Long-term care insurance For more information, visit the show notes at http://www.bigpictureretirement.net/060

How do you figure out how much money you're spending on your investments? In this week's episode, Devin and John talk about the types of fees you might be paying, and how you can figure out what they are. For more information, visit the show notes at http://www.bigpictureretirement.net/059

One in three people will eventually have some type of dementia. By the time you reach age 80, your chances of having Alzheimer’s is about about 50%, meaning that it’s very likely for at least one spouse in an older couple to have cognitive decline. Which brings us to a serious question: Can your spouse give full consent to sexual activity if they have diminished memory and understanding? Devin and John discuss a case where the husband was charged with criminal rape of his wife who had Alzheimer’s disease. For more information, visit the show notes at http://www.bigpictureretirement.net/058

Looking at changes from the investment perspective: The change in the environment of shopping may impact your investments. Investment in these new technologies may provide solid returns. On the other hand, investments in physical retailers and certain types of real estate may do poorly. It’s definitely worthwhile to consider what the future might look like when you’re selecting your investments, because changes in the economy may significantly impact your retirement portfolio. For more information about the Amazon Effect on investments, visit the show notes at http://www.bigpictureretirement.net/057

“Do I get a step-up in the basis of a property that I inherited?” This is the first of two questions in today's "Listener Questions" episode. Then John answers a question about leaving an inheritance to someone who may face a divorce. Should you do something special in this situation? To read more, or find more information, visit http://www.bigpictureretirement.net/056

Will Social Security be there when you retire? Devin and John agree that Social Security will still be there, but may be quite different than it is now. There are many possible solutions to this issue, but there are two proposals that are most likely: An increase of the age at which you start receiving benefits or increased Social Security taxes. Listen to find out more. For more information, visit the show notes at http://www.bigpictureretirement.net/055

It’s that time of year, when you make great plans for the upcoming new year. Devin and John have a great plan to help you make 2018 the year when you get all your financial plans in order. No matter what else happens, at the end of 2018, you’ll be either one year further into retirement, or one year closer to retirement. Let’s make it a productive year, so you can relax and enjoy the things that really matter. For more information, visit the show notes at http://www.bigpictureretirement.net/054

Now that the Tax Cuts and Jobs Act of 2017 has been signed into law by President Trump, we can plan to make changes in how we spend, save, and give - or can we? John and Devin get into some of the specifics of the tax reform and how it may or may not affect your income tax liability in the U.S. For more, visit the show notes at http://www.bigpictureretirement.net/053

If you listen to the news, you’ve probably heard some investment and financial planning industry folks make some wild predictions, and often those predictions don’t come true. In this week’s episode, Devin and John invited some friends to help them investigate some recent predictions and how they actually turned out. David Waldrop is a financial advisor with Bridgeview Capital Advisors and Andrew Comstock is a Chartered Financial Analyst with Castlebar Asset Management. For more, visit http://bigpictureretirement.net/052

Recorded live at FinCon from a 1974 Volkswagon Superbeetle, Devin and John are joined with Roger Whitney, the Retirement Answer Man, and Elle Martinez of CoupleMoney.com. The main topic? Divorce is the biggest threat to anyone’s financial stability. How do you work together with your spouse? Elle says, don’t start talking about money - talk about goals. For more information, go to the show notes at http://www.bigpictureretirement.net/051

Stacey’s financial advisor recommended 3-6 months of living expenses be in cash. She asks us how much she really needs. Ron from Portland wants to know what to do with his personal trust now that the beneficiaries are responsible adults. Does he still need this estate planning tool, or can he just have the trust terminate at his death? For more, go to http://www.bigpictureretirement.net/050

People who are millionaires have respect for a dollar, and they cut expenses that don’t add value to their lives.  Joe Saul-Sehy was a financial planner for 16 years, and he has observed some interesting things about how millionaires handled their money. He says it’s not discipline, it’s about seeing something good that happens, then making it automatic. Other takeaways from this episode: Automate important tasks Know that there’s a big difference between planning for tomorrow vs. planning for the long-term Improving revenue AND decreasing the costs go hand-in-hand Knowledge doesn’t pay – action pays For more details, go to the show notes at http://www.bigpictureretirement.net/049

Things You Should Do Before The End Of The Year: Charitable contributions Harvest Investment Gains and Losses Required Minimum Distributions Sit Down And Review This Stuff With Your Tax Advisor There are a number of things you could do in the next few weeks to properly wrap up 2017. How do you decide which items to prioritize? Devin and John cover things they think you need to do before the end of the year. For more details, visit http://www.bigpictureretirement.net/048