Macon Money Podcast

We’re back with a bonus episode on resolving financial tension between couples! After popular demand, we’re exploring five more common areas of financial tension: retirement housing, emergency funds, handling inheritances, insurance, and spending habits. Stay tuned to learn how advisors like Lee work to resolve conflicts in these areas as they arise.      Here’s what we’ll discuss in this episode: Couples may face tension when deciding where they want to live in retirement. Financial considerations, such as the cost of moving and downsizing, can influence this decision. Couples may have different risk tolerances and views on how much to keep in an emergency fund. Inheritances can cause tension if there are disagreements about how to use the money. Some may want to pay off debt, while others may want to enhance retirement savings or lifestyle. Couples may have differing views on insurance needs, such as life insurance and long-term care insurance. Finding a balance between adequate coverage and cost can be

Money can't buy love, but it can certainly start some spicy debates between you and your better half. In this episode, we're digging into the financial face-offs that make Monopoly fights look like child's play and exploring some money minefields that can test even the most solid relationships. Listen in as we explore how to resolve some of the most common financial sources of tension between couples in retirement.   Here’s what we’ll discuss in this episode: Disagreeing on risk tolerance in your portfolio. (4:10) Figuring out what age to retire. (6:43) Being on the same page about legacy planning in second marriages. (11:01) Determining your retirement lifestyle as a couple. (13:24) How are you going to handle financial management in retirement? (16:19)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com    

Celebrate the spirit of the month with our latest episode as we tackle the concept of financial independence. While the American colonists fought for freedom from British rule, Lee is here to discuss what you’re striving to be independent from in your retirement. We’ll unveil the common foes you’ll face on the journey. And good news, no muskets required for these battles!   Here’s what we’ll discuss in this episode: Avoiding being too dependent on the government in retirement. (2:38) Not having to rely on financial support from your children in retirement. (5:40) Independence from creditors- going into retirement with little or no debt. (8:40)   Get Dave Ramsey's The Total Money Makeover here Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com  

Everybody wants to make money, but nobody wants to lose it. In today's episode, Lee discusses a specific investment strategy that aims to limit downside risk while offering attractive upside potential. This strategy, known as a Defined Outcome ETF or Buffered ETF strategy, provides a unique approach to investing, especially in uncertain times like the current economic environment. While this strategy may not be suitable for everyone, it offers an appealing balance between security and growth. Join us as we take a closer look at how ETFs work and discuss who they could potentially benefit.   Here’s what we’ll discuss in this episode: What is an ETF and how does it work? (4:46) The tradeoff with this strategy. (6:40) Who might this strategy benefit? (8:59) This investment is 100% liquid. (11:44)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Don’t get us wrong. In many cases, your 401(k) can be your best investment vehicle, offering numerous benefits and tax advantages and many times a 100% return on some of your contributions (also known as an employer match). However, it's important to recognize that it might not always be the optimal choice for everyone. Join us in this thought-provoking episode as we dissect some reasons why someone should NOT invest in a 401(k).   Here’s what we’ll discuss in this episode: Having an emergency fund in place before you contribute to your 401k. (3:55) If your employer doesn’t match contributions to your 401k. (6:21) Tackling debt before you start investing. (8:16) Moving your money out of old 401ks if you no longer work for the company.  (13:07) Limited investment options and hidden fees. (16:09)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

In today’s episode, Lee will talk about one of the most important discussions you should have with your family once you enter the fourth quarter of your life. Although talking about what will happen to your money and possessions once you pass away can be uncomfortable, this conversation is critical. Doing so has the potential to preserve and safeguard the bonds within your family and avoid unnecessary heartache and confusion. Stay tuned as Lee unpacks the moving parts involved in this conversation and shares some tips to help you navigate this emotional terrain.    Here’s what we’ll discuss in this episode: One of the most important conversations that can take place during your lifetime + why people avoid this conversation (1:31) Communicating your burial wishes. (4:26) Letting your kids know that they will receive a portion of your retirement savings after you pass. (5:39) What about non-retirement accounts and personal property? (9:27) The importance of having inheritance conversations before you pass. (12

Picture this: You're at your retirement party, finally ready to enjoy your golden years, but worries caused by some bad money habits have robbed you of fully enjoying the sweetness of the day. It happens to more people than you think, which is unfortunate because with just a little bit of modification, you can rid some of the worst money habits from your life and set yourself up for retirement success.    Here’s what we’ll discuss in this episode: The danger of ignoring your account statements. (3:01) Taking action instead of putting off financial decisions. (5:50) Investing emotionally instead of strategically. (11:28) Pulling money out of an emergency fund for non-emergencies. (14:50) Inadequately diversifying your financial portfolio. (17:48)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Recently, the media has been flooded with information about the debt ceiling issues, fueling fears and speculation. However, it's important to recognize this as political theater, with each side playing their role and blaming the other. In this episode, Lee dives into the reality behind the scenes, reminding you that this is not a unique event and that the debt ceiling has been raised numerous times in the past. In the midst of the noise, it's crucial to focus on what truly matters- the performance of your investments and your long-term strategy. Join us as we talk about navigating these turbulent times and securing the retirement you deserve.   Here’s what we’ll discuss in this episode: The debt ceiling is nothing but political theater. (2:53) Since 1960, the debt ceiling has been raised or extended 78 separate times. (5:22) The next few weeks will be even more predictable. (8:11) Is the news making you question your financial strategy? (12:34)   Want to set up a meeting with us? Visit us here: http://talk

Are you ready to take control of your finances during life's most pivotal moments? In this episode, we dive into the complex world of financial decision-making during key life events. From the excitement of marriage and the joy of welcoming a new child to the challenges of divorce and the loss of a loved one, Lee will provide practical tips and guidance to help you make informed decisions and maintain financial stability.   Here’s what we’ll discuss in this episode: Combining your finances after marriage + prenuptial agreements. (3:16) Planning for what-if scenarios, such as job changes. (9:02) Financial changes that occur after having or adopting children. (12:00) Making financial decisions after the death of a spouse. (16:09) Financial decisions leading up to retirement. (22:02) Mailbag: What do early retirement offers usually include and how can I be prepared? (25:36)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Is the TSP, also known as the Thrift Savings Plan, truly the greatest investment platform of all time? There are a lot of people that would answer yes to this question, so in today’s episode, we’ll explore any potential shortcomings it may have. Specifically, we will dive into a recent conversation between Lee and a client who had their funds in a TSP.    Here’s what we’ll discuss in this episode: A recent phone call with a federal employee that led to today’s show topic + a brief breakdown of TSPs. (1:01) Why would you move money from a TSP to an IRA? (5:36) The value of an RIA and fee transparency. (8:18) The benefit of having personalized planning advice. (12:06)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

From time to time, we like to look at issues faced by people in other professions outside of the financial world and see what kind of retirement planning lessons we can learn from them. In today’s episode, we’re seeing what we can learn from teachers and the issues they face. Let’s look at how homework, standardized testing, and customized learning approaches relate to financial planning.   Here’s what we’ll discuss in this episode: Everybody hates homework, but an advisor can help. (1:56) Like standardized testing, cookie-cutter planning isn’t ideal. (4:36) Age-appropriate advice is critical in financial planning. (12:04) Lifelong learning is a great habit to develop. (15:04) Mailbag: Should I pay off my mortgage before I retire? (17:33) Mailbag: Gifting vs. lending money. (18:49)   Use the code “knowyournumber” to access the Know Your Number course for FREE! Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com  

Artificial intelligence has made massive improvements lately, impacting almost every industry. There has been a lot of chatter about this taking over the financial sector as well. So, is artificial intelligence good or bad for the advisor world? We’ll talk about this and more on today’s show.   Here’s what we’ll discuss in this episode: Technology has advanced tremendously. (1:48) Lee’s recent experience at Mcdonald's. (4:37) The impact of human interaction in a world of artificial intelligence. (7:41) Is artificial intelligence good or bad in the advising world? (10:46) The impact of friendly, consistent service. (13:33)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

How do you measure success in retirement? While having enough money saved for retirement is important, it shouldn’t be the only measuring stick for success. In this episode, we explore three other areas to consider when measuring retirement success: time, self-worth, and ideal days.   Here’s what we’ll discuss in this episode: Lee shares about his weekend in St. Simons, Georgia (1:39) Measuring retirement success by money. (4:37) Measuring retirement success by time. (6:29) Measuring retirement success by self-worth.  (10:04) How many ideal days did you have throughout the year? (11:41)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com  

We’re back with another mailbag episode! We’ve received some excellent listener questions recently, and we’re going to dive into a few of them on today’s show. Stay tuned to gain valuable insights and practical solutions to real-life financial challenges and questions. In today’s episode, we’ll discuss protecting your savings and investments from current economic uncertainties, what to do once you’ve maxed out your 401(k) savings, and retiring early. We’ll also clarify the critical distinctions between two often-confused terms, Roth contributions, and Roth conversions.    Here’s what we’ll discuss in this episode: What steps can I take to protect my savings and investments from losing value with the current inflationary pressures? (3:23) What should I do once I’ve maxed out my 401(k)? (10:27) I have plenty of money in my 401(k) but I’m only 57. Is it foolish to retire now? (14:30) The critical difference between a Roth contribution and a Roth conversion. (18:12) Listen to Episode 70: https://myretirementcla

As most of us know, navigating Social Security can be a challenge, and unfortunately, there is a lot of misinformation about there about this important benefit. With so much confusion surrounding this topic, we’re here today to set the record straight. In this episode, we’re debunking the most common myths about Social Security and answering the questions you've been curious about.   Here are the myths we’ll discuss in this episode: Myth: The Social Security Administration will help you make the best decision about when you should start your benefit. (4:40) Myth: You won’t have to pay taxes on Social Security. (7:50) Myth: There won’t be any Social Security benefits left by the time you retire. (13:05) Myth: You can’t work and receive Social Security benefits at the same time. (17:25) Myth: You should claim your Social Security benefits as soon as you’re eligible. (20:24) Want to set up a meeting with us? Visit us here: http://talkwithlee.com  Get more financial education at http://myretirementclarity.com

Lee has been working in the financial industry for over 16 years, and during that time, has encountered a wide variety of financial planning questions. However, there is one question that seems to come up more frequently than any other: "How much do I need to retire?" Is one million enough for everyone? Although it appears to be a straightforward question, we’re going to dive into the complexities of this topic today.   Here's what we'll discuss in this episode: Why the question “How much do I need to retire?” is difficult to answer. (2:03) Why a million dollars may not be enough to retire on for everyone. (3:11) The importance of keeping track of your expenses. (5:34) Lee’s challenge for those looking to retire in the relative future. (9:29)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com  Get more financial education at http://myretirementclarity.com  

As you prepare for retirement, you want to make sure you’re doing everything you can to secure your financial future. We’ve talked a lot on this podcast about strategies to help you grow your wealth for retirement, but it’s just as important to consider the risks that could wipe out your savings entirely. On today’s episode, we’re covering the two big ways that you could lose every dime you have, and how to avoid these critical mistakes.     Here are some of the topics we will cover in this episode: Investing your life’s savings in a business idea of a friend, relative, or child. (3:48) The consequences of investing all of your money in one company. (8:29) Why Lee does not recommend that his clients buy individual stocks. (12:23)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com  Get more financial education at http://myretirementclarity.com

Are you tired of one-size-fits-all financial advice that doesn't quite fit your unique needs and goals? There are many types of personalities out there when it comes to financial matters, and we’ve found that most of our clients fall into one of the categories we’ll discuss today. In this episode, we’ll explore how understanding your financial personality can help you make more informed financial decisions. Here are some of the topics we will cover in this episode: The ‘victim’ who has been burned by something in their financial past. (2:50) The ‘over-analyzer’ who has a tough time making financial decisions. (5:16) The potential risks ‘do-it-yourselfers’ face by not seeking professional financial advice. (7:36) “There are risks associated with being too conservative.” How ‘silo stockers’ can benefit from having some money in the market. (14:02) Working with couples that are not on the same page regarding finances. (16:23) Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more fina

Do you ever feel like your retirement planning goals are always moving? You're not alone. We’ve found that people often move the goalposts in their own retirement planning, often to their detriment. In this episode, we're diving deep into the psychology of retirement planning and the dangers of moving the goalposts. Here are some of the topics we will cover in this episode: Holding onto excess cash and not investing it could mean giving up on potential earnings. 2:15 Procrastinating with investing is an easy trap: “There’s always going to be a reason to keep you from saving money.” 5:40 The danger of waiting to reach a specific number in your investment account before reducing risks. 10:06 How procrastinating retirement planning could have you working longer than you originally planned. 13:19 Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com  

In this episode, we’ll highlight the most common financial fears and discuss how to address them in your retirement plan. Whether you are worried about running out of money during retirement or aren’t sure how to find the best financial advisor for your situation, this episode will help you face these fears head on.  Here are some of the topics we will cover in this episode: The fear of running out of money during retirement and preparing for the expense of end-of-life care 2:13 The fear of overpaying for taxes and why it’s important to plan as taxes increase over time. 7:39 Finding the balance between leaving behind a legacy and enjoying your retirement lifestyle. 10:23 The fear of having to reduce the quality of your life in retirement because of the economy. 13:22 How to find an advisor you trust with your financial situation. 16:01   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com