With another round of campaigns taking center stage around the country, we thought it would be a good idea to create our own financial advisor platform. What key points would we focus on to earn your vote? We’ll share those before brining on Michelle McKinnon for the spotlight segment.
Let’s put politics aside for a second and focus on a campaign that truly matters to you. What platform would you want your financial advisor to run on to earn your vote?
On this episode of No Payne, No Gain, Ryan and Bob lay out three areas where they would focus their attention. This platform looks to eliminate the risk while creating more consistency in your portfolio, and they’ll explain how to get there. Even if you have a retirement plan in place, it’s important to have a check-up every year to keep your goals on track.
From there, we’ll turn to the mailbag for two questions from listeners. The first focuses on IRA fees and how you can avoid them. The second asks about other investment options if the Roth IRA is no longer available to you.
Then we welcome on Michelle McKinnon, CFP professional and Senior Wealth Advisor, for the spotlight segment. She’ll share a recent client story about a man that wanted to get his wife included in the planning process so she would know how to find and access everything should his health ever become a problem. In that process, they dug into the portfolio and found ways to improve their income by repositioning the investments.
[1:09] – What would Bob’s platform be if he was running for financial advisor?
[2:13] – Risk has different meaning for each person.
[3:00] – A common fear for people is running out of income. That’s another part of Bob’s platform.
[4:42] – Also on the platform is uniting the different elements of a portfolio by having them work in harmony.
[9:18] – Mailbag time
[9:46] – Question from Claire: Should I move my IRA away from a place that charges a 2.5% fee?
[13:06] – Question from Doug: I just got a raise but now I make too much to put money into my Roth this year. Where should I invest my money instead?
[16:30] – CFA Michelle McKinnon joins the show.
[17:30] – Client story: Gentleman came in because he wanted to get his wife involved so she knows about the accounts/investments should anything happen.
[18:13] – How their portfolio looked and some surprises they found.
[22:17] – How much money can be generated when a portfolio gets repositioned to fit the client.
“If you know the income you have coming in every year, you don’t really have to worry as much about the ups and downs of the market. Because if you build your portfolio correctly, you can essentially build it so that the income coming in every year is covering those expenses so you’re not worried about if the market’s up today or down today.“
– No Payne No Gain Podcast
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