No matter how your retirement planning is going, there always seems to be a few pain points that linger over your portfolio. We all share in these so let’s use today’s episode to have a therapeutic session and relieve some of that pressure. As always, we’ll answer a couple listener questions and then we’ll bring on Michelle McKinnon for this week’s spotlight segment.
When it comes to investing and financial planning, do you ever feel like there are a few items that always cause you anxiety and angst? Those pain points affect each of us and can cause our portfolios to suffer if we don’t make corrections.
On today’s episode of No Payne, No Gain, we want to talk about each of the pain points that clients are frequently dealing with. We’ll put our main focus on these items: running out of money, investment risk, taxes, and that ever-lingering market crash. Each of these might keep you up at night but don’t let them. Making the right plan can help you overcome your worries.
We’ll also open up the mailbag to take two questions that coincidentally relate closely to our main topic quite well. These listeners seem to be concerned about signs that the market might make a correction soon and want to know what their next move should be.
No show is complete without our Spotlight segment and we welcome Michelle McKinnon back to the podcast. She takes us through a couple she recently worked with to evaluate a portfolio that included many different accounts. She shares that process and how they were able to consolidate, re-position, and increase their income significantly.
- [0:32] – Introducing the topic of pain points.
- [1:16] – First pain point is worrying that we’ll run out of money before we die.
- [2:09] – Bob shares a ‘dirty little secret.’
- [2:53] – We need risk in our portfolio but how do you balance safe money with risk money?
- [4:02] – The number one thing we’ve seen from portfolios is too much risk.
- [4:19] – The next big pain point is angst about taxes.
- [6:13] – A strategy you can use to improve your tax situation.
- [7:41] – Another big pain point: Anxiety over another market crash.
- [11:14] – Time for the mailbag
- [11:58] – 1 st question: There’s a lot of talk about a correction headed our way and possibly soon. We’re close to retirement. Should we go ahead and move to more conservative investments?
- [14:20] – 2nd question: Yields on US Government bonds have been falling. Should we be repositioning our portfolio?
- [19:14] – Introducing our Spotlight guest today, Michelle McKinnon
- [20:12] – Michelle shares a client story about a recent couple that came in with too many accounts in their portfolio. Here’s what they did to streamline everything and increase income.
- [20:05] – Question from Jimmy: I’ve been taking about 8% per year out of my portfolio because I don’t anticipate living past 75. Is this a bad idea?
- [22:44] – Question from Christine: I was under the impression I wouldn’t pay taxes on SocialSecurity, but I was wrong. Why are the taxes different for each person?
“You are all taking way more risk than necessary in your portfolio to achieve your financial goals.”
– No Payne No Gain Podcast
IMPORTANT DISCLOSURE INFORMATION
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Payne Capital Management, LLC), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Payne Capital Management, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Payne Capital Management, LLC is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Payne Capital Management, LLC’s current written disclosure statement discussing our advisory services and fees is available for review upon request.