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3 Legged Stool of Retirement Planning: Social Security Plan / Pension Plan / Investment Plan

– One of the most fundamental concepts in retirement planning is the concept of the three-legged stool. We're gonna get into that in this video. (upbeat music) So what is this three-legged stool? Maybe you've heard about
it, maybe you haven't, but just go ahead and
imagine a three-legged stool. Now, for a three-legged stool to work, it's not a four-legged stool,
it's a three-legged stool, for it to work, every one of those legs has to be perfectly aligned. If you shorten one, what's gonna happen? You're gonna tip over, right? If you make one too long,
you're gonna tip over. Same thing goes for retirement planning. And what the three-legged stool is is three different things.

Leg number one is Social Security, and almost everyone has
it in the United States. There's a few pension plans
that made you opt out, but, for the most part, almost everyone has that first leg. And there's a lot of people
who don't have the other two, which makes retirement a little tricky. But the first leg is Social Security. A lot of times, people say, okay, yeah, I know about Social Security, I can take it at 62 or 66 or 70 or whenever it is. Well, yes and no, because it depends, when you should take your Social Security depends on a few different factors. And we've done some
videos on Social Security, and we're gonna go ahead
and link it up here. So if you wanna find out
when you should take it, you can go ahead and click that. But it also depends on the other two legs. The second leg is guaranteed income. And traditionally, the guaranteed
income came from pensions.

Well, as you know, not many people today have pensions. Back in the 50s and 60s and 70s pensions were very common to have. Now, they've become less and less common. Why? Because people are living too long. And because they're living so long, that's what can hurt a
pension plan, longevity. And because not many
people have a pension plan, sometimes they'll look for other forms of guaranteed income. Some people will use annuities, some people will use life insurance, some people will use some type of guaranteed CD or something like that. But they'll use that as
their guaranteed second leg. And the third and last
leg is retirement savings. So this will typically come from IRAs or 401(k)'s, or just money that you've saved up throughout your life towards retirement.

And so that leg is pretty
commonly neglected. People say, well, I've done
a really good job at saving, or I've earned a lot of money, or my interest rate is really good. And they think that that's
all they need for that leg, but that's not true. That leg is the most
important part to adjust based on where the other two legs are. So my recommendation is take a look, and you wanna make sure that your pension leg, your Social Security leg, and your retirement asset leg all match up so you have a
balanced three-legged stool.

A lot of financial advisors don't really talk about the other two because they don't really
get paid on it, right? Most financial advisors get paid on the money that they manage, so the other two are more of a burden. But to have a true retirement plan, you need to make sure
that all of those line up. And sometimes the account that earns the most in your investments is not the one that will keep the rest of your plan balanced. So my recommendation is, if you haven't looked at how all three of those legs combine, look for a financial advisor, and say I want the three-legged stool, and figure out how that fits
in to your retirement plan.

Thank you so much for watching my video. If you wanna see more, you
can click here to subscribe, or you can click right here for a video that YouTube
will think is best for you. It's their algorithm,
don't blame me for it, but I hope you enjoy..

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Pay This Off Before You Retire – Retirement Planning Tips

in this video we'll look at what expenses you should think about getting rid of before retiring and a few mistakes that retirees make when it comes to expenses in retirement there's a few things that you may want to say goodbye to before you say goodbye to that wage or that work income we're going to cover this in three parts it's going to look like this first we'll go over needs and wants and then what i'd call highway robbery and then also what to ear mark in retirement we've seen that the retirees that can get rid of these expenses before retiring have a little bit more breathing room and they feel better about their retirement plan because when you're planning for retirement we usually think about really two types of expenses it's the needs which are the essentials the absolute must-haves to just live you know as you think about my maslow's hierarchy of needs those things at the base layer and then there's the wants which are the the nice to have things but then there are other types of expenses that really don't fit into that category of needs or wants those are the things that we need to be done with before retirement and by the way i'm dave zoller and me and my team we run streamline financial it's a wealth management firm focused on retirement planning and we've been helping people personally for 13 years and streamlines been around for 22 years and we created this channel to share what's working with our clients so that you can benefit too so if you're close to retirement be sure to subscribe because i share one new video each week to make your retirement a little bit better i also put some free resources in the description below like my favorite diy retirement planner if you're more of a do-it-yourselfer so let's get into the list and then as you're watching if i leave something out please share it in the comments below i'd love to hear from you and then also i'll try to reply back to depending on how many comments i get so the first two you will probably agree with but you might not be thinking about the other ones and i want to show you ways to prepare and just make sure that your retirement is a little bit smoother by using our retirement planning software the first one which you already know is to pay off high interest debt which i sometimes think of as highway robbery it's when those interest rates are just so high and they're charging people it just seems unfair right that high interest debt i'm referring to is usually credit card debt and sometimes it's student loan debt and you'd be surprised at the number of people who in their first year of retirement they still have a large monthly payment towards credit card payments or student loan debt and this should be the number one thing that we should focus on to really reduce before we say goodbye to that job income or that wage because if you retire with credit card debt and then you get serious about paying it off in retirement then that means you've got this bigger amount that you got to take from investments which could alter your retirement plans i helped a woman recently who's not a client but she was looking at her plan and she wanted some help and she had about 20k of credit card debt she also had over a million dollars and her regular expenses adding on this 20k of a lump sum expense to her plan it really made quite an impact and once we looked at that together it gave her the motivation to work a little bit extra and extra hard to get this debt payment down to zero or get the credit card debt down to zero before retiring because she'd have a greater peace of mind and it would just increase her confidence as she was going into retirement that peace of mind it's key right i'm sure you're feeling the same way i actually want to share a little bit more about how to achieve this before you retire and during retirement and i share that at the end of this video so stay tuned the next ones are expenses that you can either pay early or at least you want to earmark these in your retirement plan and i'll show you what i mean when i say earmark that just means setting aside funds for specific purposes and either not including those funds in your retirement plan or including them but at least showing the specifics within the plan and i'll show you some images coming up of a retirement plan and how to do this number one thing to earmark is any big travel expenses that you're looking forward to that first year of retirement or really the first few years of retirement a lot of people kick off retirement and they'll really have a big special trip that they've always wanted to take or a place that they've always wanted to go to and lots of times that vacation it's going to cost more than the typical vacation that you might take on a regular year it's really that cap to uh ending work and then really doing a bigger than normal trip some clients choose to take one of those european uh river cruises that are pretty popular and they can cost 10 to 20k or more and knowing that this is a bigger than normal expense or a lump sum expense coming soon into retirement you can either pay that ahead of time like actually many of the cruise places make you do or you can at least earmark it in the plan and make sure that it all works with everything and i'll throw it in there as an example coming up soon here's an example of a retirement plan that's based on annual expenses going up each year three percent regular inflation rate and then over on the left side we can add some expenses that are bigger and irregular you know not the regular every year expenses but things we can earmark so that we can see the impact of on the plan before actually spending the money and doing it this way we can add some peace of mind to your retirement plan and your confidence as you're spending money and so you can just feel that it's a good decision and feel good about that vacation or whatever it might be a few other bigger than normal one-time expenses we've seen are related to your adult kids if you have them whether it's final college expenses or maybe a wedding that you want to help out with or future gifts maybe towards a home purchase or something like that for those you're not really able to pay those before you retire because we don't know when they're going to happen so earmarking them is the next best step and setting funds aside to make sure that these potential expenses that you might have in the future are ready and available ready to deploy when needed one mistake that we've seen some retirees make getting close to retirement is not factoring in these one-time expenses and then getting caught a little off guard when it's time to pay for them especially if we're in a market like we are now now you might be thinking one big expense that i did not mention and before i share that one if you enjoyed watching this video so far and you found it helpful please click the like button so this can hopefully spread to other people who are like you and might find it helpful as well so that one big expense that you might be thinking of that i didn't mention yet is paying off your whole mortgage before you retire and this is a big one for many people as you've heard before behind every financial decision there's also an emotional one as well and many people they feel very strongly or maybe adamant on on being debt-free in retirement and that's a really good feeling for for many people for others depending on their financial decision it actually a mortgage could actually make sense in retirement some people see it as a fixed expense which doesn't go up with inflation it actually gets cheaper as everything else increases with inflation and as one dollar can buy less and less over time which is basically what what inflation is it may be at really attractive interest rates as well and some people want to have a little bit more flexibility in their retirement accounts by keeping some funds available in their non-retirement accounts versus using that money to pay off the mortgage the more important thing to to think about when deciding whether this makes sense whether to pay it off or not is try to measure first just the emotional feeling or comfort with debt you know yourself and then also your spouse if you're married and then step two is map out both scenarios what does it look like that plan that we're just looking at over here what does it look like if you pay off debt early or don't pay off the mortgage at all look at the difference see which one's okay lots of times it comes down to the strength of the emotional feeling around debt for one person in the relationship or if it's just you then it's just whatever you prefer when we're thinking about paying off expenses or earmarking things in retirement get help from a financial professional a cfp could be a great place to start but i'd like to hear from you what did i not mention as we're thinking about these different expenses in retirement i'd love to hear your thoughts about these expenses and especially the thoughts on mortgage having a mortgage in retirement and i want to share another video about how increasing peace of mind and making sure that you get both parts needed for a successful retirement the sad thing is that in this industry the financial industry most of the time they focus on one thing but here's a video to watch that'll help you think about and prepare for both sides of retirement so hopefully i'll see you there and if you haven't already subscribe and then i'll see you in future videos take care you

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10 Essential Tips for Successful Retirement Planning

Hello and welcome to our channel. 
Today we will be discussing the   top 10 tips for retirement planning.
Before we get started, it's important   to note that retirement planning is a personal 
journey and what works for one person may not   work for another. It's important to take the time 
to understand your own financial goals and needs,   and to seek the advice of a financial professional 
if you have any questions or concerns.
  As always, make sure to Like and 
subscribe to the channel to stay   up-to-date on all of the latest news.
Now, without further ado, let's dive   into our top 10 tips for retirement planning:
Number 1. Start saving early. The earlier you   start saving for retirement, the more time your 
money has to grow through compound interest.

Even   if you can only save a small amount each month, 
it's important to start as early as possible. By   starting early, you may be able to retire earlier 
or have more flexibility in your retirement plans.   It's also important to increase your savings 
over time as your income and expenses change.
  Number 2. Contribute to a 401(k) or 
other employer-sponsored retirement plan.   Many employers offer 401(k) plans or 
other retirement savings plans that   allow you to contribute a portion 
of your salary on a pre-tax basis.   This means that the money you contribute to your 
401(k) is not subject to income tax at the time   of contribution, which can help you save more for 
retirement. These plans often come with employer   matching contributions, which can be an excellent 
way to boost your retirement savings.

For example,   if your employer offers a 50% match on your 401(k) 
contributions up to 6% of your salary, and you   contribute 6%, your employer will also contribute 
3% of your salary to your 401(k). It's important   to contribute enough to your 401(k) to take full 
advantage of any employer matching contributions.
  Number 3. Consider a Traditional or Roth IRA. If 
you don't have access to an employer-sponsored   retirement plan, or if you want to save more 
for retirement on top of what you're already   saving through your employer plan, you may want 
to consider opening a Traditional IRA or a Roth   IRA.

These are both individual retirement accounts 
that allow you to save and invest for retirement   on your own. A Traditional IRA allows you to 
contribute on a pre-tax basis, similar to a   401(k), but the contributions are tax-deductible. 
A Roth IRA allows you to contribute after-tax   dollars, but the money grows tax-free and 
can be withdrawn tax-free in retirement. Both   Traditional and Roth IRAs have annual contribution 
limits, so it's important to be aware of these   limits when making your contributions.
Number 4. Diversify your investments.   It's important to diversify your investments in 
order to spread out your risk and potentially   increase your chances of earning a return. This 
can be done by investing in a mix of asset classes   such as stocks, bonds, and cash. Within each 
asset class, you can also diversify by investing   in a variety of individual securities such as 
different types of stocks or bonds. For example,   you could invest in large, medium, and small 
company stocks, as well as international stocks.   This type of diversification can help reduce the 
impact of market fluctuations on your portfolio.
  Number 5.

Understand your risk tolerance. 
Different investment strategies come with   different levels of risk, and it's important to 
understand your own risk tolerance when planning   for retirement. If you're not comfortable 
with a lot of risk, you may want to focus   on more conservative investments such 
as bonds or cash. On the other hand,   if you're willing to take on more risk, you may 
want to invest a larger portion of your portfolio   in stocks. It's important to find the right 
balance for your own situation and to review   your investment strategy regularly to ensure 
it aligns with your goals and risk tolerance.
  Number 6.

Rebalance your portfolio regularly. 
As you get closer to retirement, it may be a   good idea to rebalance your portfolio to be more 
conservative. This can help reduce the potential   for loss as you near retirement and need to 
start withdrawing from your savings. Rebalancing   involves selling some of your higher-risk 
investments and buying more conservative   investments in order to bring your portfolio back 
into alignment with your desired asset allocation.   For example, if you originally had a 60/40 
asset allocation (60% stocks, 40% bonds),   but the value of your stocks has increased 
significantly, you may want to sell some   of your stocks and buy more bonds in order to 
bring your portfolio back to a 60/40 allocation.   Rebalancing should be done on a regular 
basis, such as annually or every few years,   to ensure that your portfolio stays in 
line with your goals and risk tolerance.
  Number 7.

Consider working with a financial 
advisor. A financial advisor can help you   develop a retirement plan that aligns with 
your financial goals and needs. They can help   you understand your options and make informed 
decisions about your retirement savings. They   can also help you create a financial plan that 
takes into account your current and future income,   expenses, and debt. Working with a financial 
advisor can be especially helpful if you have a   complex financial situation or if you're not sure 
where to start with your retirement planning.
  Number 8.

Plan for healthcare expenses. Healthcare 
expenses can be a significant factor in retirement   planning, especially as you age. It's important to 
consider how you will pay for healthcare expenses   in retirement, whether that be through Medicare, a 
private insurance plan, or out-of-pocket expenses.   Medicare is a government-run health 
insurance program for those 65 and older,   but it does not cover all medical expenses. You 
may need to purchase additional coverage, such   as a Medigap policy or a Medicare Advantage plan, 
to fill the gaps in coverage. It's also important   to consider the potential costs of long-term care, 
such as nursing home or assisted living expenses.
  Number 9.

Think about your lifestyle in 
retirement. It's important to consider what your   lifestyle will be like in retirement and how much 
money you will need to sustain it. Will you want   to travel or pursue hobbies? Will you need to pay 
for housing or will you have a mortgage-free home?   Understanding your retirement lifestyle can help 
you plan for the amount of money you will need to   save. It's also important to consider how long you 
expect to live in retirement and whether you will   have any sources of income besides your retirement 
savings, such as a pension or part-time work.
  Number 10. Keep an eye on your retirement 
accounts. As you get closer to retirement,   it's important to regularly check in on your 
retirement accounts and make sure they are   on track to meet your goals.

This can help 
you identify any areas that need improvement   and make any necessary adjustments to your 
retirement plan. It's also a good idea to   review your investment strategy and make sure 
it's still appropriate for your situation.   If you're working with a financial advisor, 
they can help you with this review and   make any necessary changes to your plan.
Thank you for watching. We hope these tips   have been helpful as you plan for your retirement. 
Remember to consult with a financial professional   if you have any questions or concerns.
Make sure to Like and subscribe below to   stay up to date on all of the latest 
news. We will see you next time!.

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Why Some Retirees Succeed and Others Live in Worry – 5 Retirement Truths

I want to share one of the most valuable pieces of retirement advice that I've ever heard if you're thinking about your retirement and you're wondering if you're doing the right thing or think that you should be doing something different or if you're just worried about all the things going on right now whether it's the economy or the markets or the value of your accounts be sure to watch this video because I'm going to share the retirement truths that every retiree goes through and it's these things right here we're going to cover today and every retiree goes through it and it they experience this in retirement so it's going to go over this and then also what to expect in retirement and then how to give yourself the best chances of maintaining your lifestyle in retirement as well now the negative of these retirement truths that we're going to look at is that many of them lead to increased uncertainty or worry about your retirement one of our goals though as we're thinking about it is really the opposite of uncertainty or worry in retirement it really should be more about confidence right the next years really all the way up until you pass away wait these are the the magic ears these could be the best years of your life and I know that because there's an actual study a research study uh proving this so let me pull that up really quick and show you the results and I'll link to it below people were asked to score their life satisfaction from zero to ten where 10 is the best possible life and then zero is the worst possible life and this is really just the average score by age and I thought it was encouraging to see that life satisfaction tends to increase as you can see as we get older and then it tends to Trail off as we get older but really the area the the period of time we want to focus on is that this is the magic time and we know this to be true as well because we've helped hundreds of pre-retirees move into retirement with confidence and excitement and these were the people who were coming to us that were feeling somewhat unsure or not 100 confident with their money plan and our firm streamline Financial has been around for 24 years and we've made it through quite a few bad Market periods with our clients and by the way if I haven't met you yet I'm Dave zoller and I own streamline Financial with Tim and Luke and Sean and if you're working with an advisor now that's mainly focused on investments and investment planning but doesn't talk about these key retirement strategies like the tax efficient withdrawal planning and income planning or just tax reduction overall feel free to reach out to us through the website now we don't always have time but I'll get back to you either way so let's get into this first truth in retirement it will be common to have that thought of maybe I should be be making a change or should I be doing something different it'll be normal to feel this way in retirement especially when you see the news or you're listening to friends talk about their finances there's this feeling or this thought of really making us doubt our current plan which causes some people to make more emotional decisions instead of making smart financial decisions and a good way to avoid this is really to avoid this feeling is by having an understanding of your plan which really leads to more confidence with what you're doing and having a plan for both the good times and also the bad Mark of times so that you know that you're prepared for either one of those and I'll give you some ways to achieve this coming up in this video now on to the second thing that comes up in retirement that we just have to be prepared for is we need to expect bear markets right you've most likely lived through a lot of them already and really in retirement though they feel a little bit different usually worse but because of the frequency creating a plan with bear markets in mind and really big Corrections built into the plan is a smart thing to do that way you don't have to worry when they eventually come now if you're not sure how to model out these various what-if scenarios or bad Market scenarios for your plan then you may want to talk to a cfp or check out my favorite retirement income planner below this video you should see a link to it it's one of the best consumer facing planners that I've seen and it doesn't cost thousands of dollars like the ones that we use for our clients the next thing to bring up is for pre-retirees who are close to stopping their wage especially if that's during bad markets they may think should I work a little bit longer maybe just one more year to kind of make it through this this difficult period we actually had a client call us up about five months ago and uh no she was five months into retirement and she said something like it seems like so much bad news is out there and what's going on with the markets I'm wondering if I it would have been better if I should have just kept working so we reviewed her plan and because we built in to her plan this expectation of bad markets everything looked great and and really the only reason to keep working would be if she really enjoyed this sort of work that she was doing and it brought her some some purpose but she didn't so it was great it was great confirmation that she was still on the right track so if this sounds like you take a look at another video I recorded I'm gonna either link on this screen or it'll be below and it gives a few real examples of what working an extra year might look like in a financial plan the next thing to know is that no one really knows what's going to happen next it seems like everybody has a prediction on TV or YouTube or at the dinner table with family or with friends and no one really knows what is definitely going to happen we know this uh in a logical way because you know there's that saying if you put 10 economists in the room together and they come up they need to come up with a conclusion they'll come up with 12 of different answers when they walk out knowing that it's important to prepare your investment plan for that four economic Seasons that we may go through in the future since we don't know which one we're going to go through next so just as as an example you've seen it before the four economic seasons are higher than expected economic growth or lower than expected economic growth and then higher than expected inflation or lower than expected inflation and there's asset classes that can do well in each one of those now again we don't know which way we're headed but having asset classes and each one of those potential Seasons that could be beneficial now that's just my opinion and really it's for all of this talk to your own Financial professionals before doing anything like this now on to the next one which really has more to do with human psychology than investment strategy and then after that I'll share the the really the most helpful piece of advice that I've heard related to retirement planning but if you'd like this so far please click on the the like button and and maybe this video can help somebody else going through the same things that that you're looking forward to so the next truth is in retirement we may have a tendency to compare ourselves to others the grass is always greener on the other side of the fence really throughout life that's we've got that tendency to compare it to others but it can harm us in retirement too if we do a video on this channel that mentions a dollar amount as an example we don't want that to really make you feel better or feel worse about your current situation because you know we help high net worth families at streamline Financial we sometimes mention big numbers but we don't want it to be about the numbers we really want to communicate just the principles and the strategies that can can really be applied to to anybody's finances and there's always going to be people with more than us and then there's always going to be people with less than us and the one who wins is the one who's content and at peace most at peace with their current situation you know that saying if I want to be able to practice being content with a little and I want to be able to practice being content with a lot and and you know healthy competition that's okay but comparing ourselves to someone else because uh you know if it causes us a feel of lack or less than that can hurt our retirement plans because that leads really back to that first point that we talked about in uh in this list of feeling like we should be doing something different for example if we see a guy on the internet and he's investing a certain way or he's deciding he's changing up his entire strategy um because of what's happening with the economy then that may cause us to feel like we should be doing something different and then start to increase the emotional level of uh of our decision making instead of staying to strictly logical or financial levels but again it's a normal feeling to feel that worry or fear or anxiety um with what's happening during during current periods but one of the most helpful pieces of advice that I've heard that we can apply to retirement planning is really the difference between those two words fear and anxiety knowing the difference between those two is actually very very helpful as we're planning retirement and talking about money that is if we want to feel better about what we're doing right now when we think about fear and anxiety we might think of them as being the same thing but actually they're completely different things and let me just pull up these two definitions if I can really quickly fear is a caution over a real and present danger and then anxiety is a worry over an imagined future danger now fear if we've got something right in front of us then it's obviously a very helpful tool for us as humans anxiety though is not always a helpful tool as as we're trying to process things partly because these anxieties there's nothing we can do to control or influence them you may have seen this drawing from Carl Richards before about things that matter and then things I can control here's a place to focus and then another way to look at it is we actually sent this to clients not too long ago on a video of what you can't control and what you can control so we can't control the markets and inflation and what they're doing with interest rates or what's happening in the news or the world or tax laws or the elections but a lot of these things actually do relate to things that we can control for instance you know markets are inflation or interest rates your portfolio allocation you can control that you can control when to pay taxes when it's related to in investing you know as we're talking about Roth conversions or the the costs the tax cost tax drag on some of the portfolio and not to get too nerdy about these things but two of the biggest things that we've seen is this idea of not controlling the news but what we can control is news consumption we've seen a big shift with uh some people who instead of someone who wants to consume the news they switch from TV news to reading news where you have a little bit more control of what's coming at you versus TV is just the next thing is coming at you if you know what I mean I don't know if that's if I if I'm explaining that the right way but back to the this video all the things that we mentioned before earlier here um a lot of these can be anxiety-inducing things as well right the severity of a bear Market or not being able to predict what's going to happen next in the world or comparing ourselves and doubting our plan or thinking that we don't have as much as as we wish we had when it comes to to money or the you know what if this happens and what if this happens how is that going to impact my plan and that can lead that sort of thinking can lead to paralysis and really no action being taken but what if you had a plan that was built in to show those different what-if scenarios so instead of the unknown future danger you're able to get more concrete scenarios in the plan as a result that's what I would recommend once you get get it out in the open then it becomes a lot less scary we both know that so either find a great certified financial planner who can show you that and show you the what-if scenarios or check out the the DIY planner or a different planner that helps you put in those what-if scenarios as well so it becomes less scary so don't forget anxiety is it can be the thief of Dreams it takes you away from enjoying the the present moment and it stops you from even taking the right action to make things better in the future because it really just makes you only focused on on the negative as you're you're moving through life that video that I mentioned earlier is called why delaying retirement might not be a good idea if you're pre-retirement and you're thinking you want to work a little bit longer because of what's going on take a look at that one coming up next or below and then I'll see you in the next video take care foreign [Music]

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Why This Investment System Can Help Retirees Worry Less About Their Retirement Plan

I want to share an investment system for retirees to hopefully assist you as you're thinking about and planning for your retirement we're also going to look at how to prepare your retirement for the multiple potential potential economic Seasons that we may be headed into so we want to look at the multiple seasons and then the Easy System that's going to help lower taxes and then lower risk as well now if I haven't met you yet I'm Dave zoller and we help people plan for and Implement these retirement strategies really for a select number of people at streamline Financial that's our retirement planning firm but because we can't help everyone we want to share this with you as well so if you like retirement specific videos about one per week be sure to subscribe so in order to create a proper investment plan in system we want to make sure that we build out the retirement income plan first because without the income plan it's much harder to design the right investment strategy it's kind of like without the income plan it's like you're guessing at well 60 40 portfolio sounds good or you know May maybe this amount in the conservative bucket sounds reasonable you already know and and you feel that as you get close to retirement that goal of just more money isn't the the end-all goal that we should really be aiming for for retirement it's more about sustainability and certainty and then really the certainty of income and possibly less risk than before the last 30 years uh the things that you did to be successful with the financial side are going to look different than the next 20 or 30 years now if you need help defining the the income plan a little bit then look at the DIY retirement course below this video now once you do Define your goals for retirement and then the income needed to achieve those goals then creating the investment system becomes a lot easier and within the investment plan we really know that we can only control three things in all three things we actually want to minimize through this investment system the first thing we can minimize or reduce is how much tax you pay when investing we had a a client who was not a client of streamline Financial but of a tax firm coming to the the CPA firm in March to pick up his tax return and he was completely surprised that he had sixty thousand dollars of extra income on his tax return that he had to pay tax on right away before April 15th and it was due to the capital gains being recognized and other distributions within his investment account and he said but I didn't sell anything and the account didn't even go up that much last year and I got to pay tax on it but he was already in the highest tax bracket paying about close to 37 percent on short-term capital gains and dividends and interest so that was an unpleasant surprise and we see it happen more often than it should but this can really be avoided and here's two ways we can control tax so that we don't have to have that happen and really just control tax and pay less of it is the goal and I'll keep this at a high level but it'll get the the point across number one is the kinds of Investments that you own some are maybe funds or ETFs or individual uh equities or things like that the funds and ETFs they could pass on capital gains and and distributions to you each year without you even doing anything without you selling or or buying but it happens within the fund a lot of times now we would use funds and ETFs that are considered tax efficient so that our clients they can decide when to recognize gains rather than letting the fund company decide now the second way is by using a strategy that's called tlh each year there's many many fluctuations or big fluctuations that happen in an investment account and the strategy that we call tlh that allows our clients that's tax loss harvesting it allows them to sell an investment that may be down for part of the year and then move it into a very similar investment right away so that the investment strategy stays the same and they can actually take a write-off on that loss on their taxes that year now there's some rules around this again we're going high level but it offsets uh you know for that one client who are not a client but who had the big sixty thousand dollars of income he could have been offsetting those capital gains by doing tlh or tax loss harvesting that strategy has really saved hundreds and thousands of of dollars for clients over a period of years so on to the next thing that we can control in our investment plan and that's cost this one's easier but many advisors they don't do it because it ends up paying them less now since we're certified financial planner professionals we do follow the fiduciary standard and we're obligated to do what's best for our clients so tell me this if you had two Investments and they had the exact same strategy the same Returns the same risk and the same tax efficiency would you rather want the one that costs 0.05 percent per year or the one that costs 12 times more at point six percent well I know that answer is obvious and we'd go with a lower cost funds if it was all the same low-cost funds and ETFs that's how we can really help reduce the cost or that's how you can help reduce the cost in your investment plan because every basis point or part of a percentage that's saved in cost it's added to your return each year and this adds up to a lot over time now the last thing that we want to minimize and control is risk and we already talked about the flaws of investing solely based on on risk tolerance and when it comes to risk a lot of people think that term risk tolerance you know how much risk can we on a scale of one to ten where are we on the the risk factor but there's another way to look at risk in your investment strategy and like King Solomon we believe that there's a season for everything or like the if it was the bird song There's a season for everything and we also believe that there's four different seasons in investing and depending on what season we're in some Investments perform better than others and the Four Seasons are pull it up right now it's higher than expected inflation which we might be feeling but there's also a season that can be lower than expected or deflation and then there's higher than expected economic growth or lower than expected economic growth and the goal is reduce the risk in investing by making sure that we're prepared for each and every one of those potential Seasons because there are individual asset classes that tend to do well during each one of those seasons and we don't know nobody knows what's really going to happen you know people would would speculate and say oh it's going to be this or this or whatever might happen but we don't know for sure that's why we want to make sure we just have the asset classes in the right spots so that the income plan doesn't get impacted so the investment system combined with the income system clients don't have to worry about the movements in the market because they know they've got enough to weather any potential season I hope this has been helpful for you so far as you're thinking about your retirement if it was please subscribe or like this video so that hopefully other people can be helped as well and then I'll see you in the next one take care thank you

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Family Wealth Killer 2: Bad Investments

Family Wealth Killer #2: Bad Investments All investments look good the first time you see them…right? I met a guy with millions of dollars. He could really accumulate capital, but he couldn’t pick a good investment if his life depended on it. He would only see what he wanted to see and commit precious capital to things he couldn’t control with little possibility of producing a return worth the risks. A good investment policy changed all that. Sticking with our investment policy we always know how to deploy capital because we know what we're trying to accomplish. The deeper we dig with due diligence, the more we understand an opportunity and how it lines up with our values and goals. Picking winners is easier and more fun this way. Building capital is like building anything else— the better the quality of the parts and how they all fit together for us, the better it will perform..

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60 Years Old and Nothing Saved for Retirement – Top 12 Recommendations

moshi journal of the war about version 5 and her dick or nothing save time and in this video i will give you my top 12 recommendations from to gather épisode and the phoneshop s line my name is lynn mines and today we're talking about how you so I you're getting only star junior with over fifty with that over fifty5 maybe you our die in your sixties and now I have little or no 10 series time it i'm going to give you 2 tbsp specifics you can your original is concern there's no de jorna loon and it's never too late many people a coaching time lady finance even in the situation where we have the timing so stupid now arjan yourself in the beginning inge you where you were young just can't get by make and smeet more history family of chipper tells us times is a medium and helps and must collins take the pan yourself fit the sun tremor sixty thumping when in more detail with your juice at lower netting seyfried time and of course start in early there is a storing late but you can make up Alaska hands and math eyeshadow in situations unique and what works for one person may not work for another for coastal regions with the Parisian this video is the ghibli some practical ideals and strategies to consider this there can make a very big difference to you in your goal detail majors number 2 tap in the toori of your situation and then for your timeline that you already have the passado de is how shampoo pure fifty five singlet hero that had ten years before your sexy woman and 14 use the force that you can campus aladdin 14 years old and earth 3 vai dealers bart herbed be focused in that can we have plans at in the greatest az is your building churn and income that have income or the ability to become i can there is your goals english is not about how much you earn is what you chi the mathers new be surprised with him the people with high income i am super icons the wrapper elearning c at the front you'll be surprised at how many people with barry but is it war incomes have surprising the size ball to the ponies alice ivory terms and they financial planner eyes i head in the spectrum and him force me to the moon and more the natural tennessee is to spend more the global fund yogis and there you have to use your browser necessary expansions we already bread igor inputs and leslie protest you the cancer your channel effectively protest with old plans in moscow color go recommendation numbers 3 is 10 million numbers in economies way glowing you don't want your card in flow and url flow the income and expenses the calving budget through budget is to work parking were many people feel like folding budget is even though he has the you a bit suggest that you change through you want a lot budget of this chickens the the learns that helps keep it simple in a simple traces this is t still a nice way going nb controlling nice way glowing knowing you manage there you have to do a major a bit of the beak you often in thatcher fray recommendation number for completing journey they spend in arnhem with commitment to check all here tension quarter idea for what of the next perfect and min truck every penny you can simple idea what the pc' pepper donor come together or if you like i can download spending a dead spreadsheet the week savior it is very simple harpel toe an excel spreadsheet designed with purpose it free download and there is a link in the description below then I had a garden but my deesje number five is nipping the bud back online now I have to have color that is a bucket of income Camille and wedges Gillingham someone who will be empowered to make some changes the girl with me for middle what would be like if you were able to all your income or in other words i had no expenses there already fine and zeros the snowfall wants is thing you sent with your kids and corn oil in best oil that can be put in there someone for the nex-5t and 14 hours how much of nfc can you use your kimeli i would be a significant amount of money you should just think brain recommendation number sex this is the great and pink outside the box' the monsieur with your personal story but wait after bad guys mother pork royce duns with the laitman i did not prevent from being married and wooden awww man by professor locking must contain you won't you make and slammed and my new be challenging to be white and were determined to face life's challenge is what have they may be together have us leather yes we quiet small the finish my schooling and and there was also a full-time mother in singapore my and who weatherman etc to buy pearls you have to nemaattori in which comics people's saving 1 hour marie are to us in possible this is where we share the great if my biggest expence was rather fmri buddy we start to think boys republic loses when we get older and someone moving in with parents with the waif into small children and this point was after the bible option borsato time but we were determined to find a way to fool cycles likes people's so had to oil brainstorming my wife the BBC note the cursor church ring and she love to visit and care for elderly people save him from when in the elderly people there or in arcen who live in her home alone but he brings the point where can I assisted living and promised him and walked into a system care provider call when this weekend find someone there would be okay in the care provider game with the nekberghe into small chill you should never have anyone doing anything like this before I decided to take two mothers, in theory it is not acres of course this was washable before the Joline and anyway Glenn in there in the classroom white section to local newspaper who were surprised to see paths have that and Kohl's of people looking for loving care providers for the Cairns region billion more than one will be a rapper who with the first internship family Michel Nabertherm and in the film about who was new in elderly managers nine who are here three scraper from the strip company such a process and are now immediately since i was a barry k instrument the absolutely chill me you guys inside toe story home is the goal john their upper room and board we persisted full basement where films in refrigeration all utilities and my life was able to the shopping there is through and provide the not the care and they also peter siks to that per month additional the green office for and minimal when in love for the us complete guangzhou and sultry amical him only two in my wife's arms my i'm so my work this experience was a more photos on tags mother able to dry cycles so ark spencer's and even inc research then you have when you have to set it forward denpa one has to have brother first even the meteo another creative at work story and couple in sixty one very little c free time by a thousand glasgow and well it is in can was do you want that sylla bolhuis entire career day a creative and create aggressive client to do love them to reduce turkish patches bonnie lies and that person first rebirth desolder iphone how the plants downsizing santing was expensive to measure in d axl in blood in a world order good working part-time radiation the joris school and taking care for two worlds to that archer and her beds sharing to the chances and providing their father and son for the stereo period in t league dark gray coach the little one helps immensely because of that is sure of pain patient care and newer etc and that person or drink or two you could this was a big boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh my dough is in the cell and the workbench is there through the gates the age of 16 5s am that arbitrary their the advertisement wiser the plague this was my social security designated the full of time 161 5 is the moment the camel is want medicare prepared the sweet this would be tender how they live single in long Canadian and seven d is the new sixty-five we want you longer and that as the you or your spouse winter nineties and pianists cisticola hi hi er de may be putting the ship live the life you might be cross minnie beebe wants nme people in their voice and i still working sam micro sd not the income else because they eat simple in joy working in samsung not uncommon for a person to retire political board and to go back to work dear cousin oil pt if you will italian the media kühtai er from the wine and findi control idea of ​​tai chi chuan sint in de us better no ikke star the site has a small business or Samsung of the media budget that was there in future episodes and the Easter shop s line the plan back track mini on the procedure is the you could consider hats another reason why am I would consider subscribing to this channel you have a recommendation number is called the lion styling socials curry benefit's je keyword longer you're able to the lego scribes sander this can increase the size of the features of three benefit's in a link boys what is your had longer and burning history the youtube app storify earth delivery here the to work can make a big difference if we now the reader jury benefit's beyond for him agree you also can earn the darcy types of life timing grads the size of your social benefits can be much a larger my what you do is that you do n't want to have the good social studies trying to better understand our social security de lions time and credit work and for a customized social studies strategy presses live for you and i can go to social security line thanks to humor committee recommendation number name is john try physical and mental half dat satin cherry lifestyle list you the soul and the soul we bring the youtube and ashoka's times in physically and mentally fit maybe the most pointing you can take your time and fill we new ipad you will have more energy you will and send your ability to work longer and to earn longer the benefits and exercise and the help of a church documentation number 10 is the haafidh 14 yourself a lot in your future the Muslim program 14 god gray and amazing things kabir kampen list aldo and meeviel roaming and even in possible that thing is a possible yo and more people and you think you're stronger than you think your mark reason that I think in your child your heart drinks you can overcome in a challenge to you for your mind 2l and Disclose of halloween there wilcox there is no chance no destiny no fact that a circular or nuisance or control the family room of that term a solo house inc your team live in Rijswijk and wayside DVD and you programmer penetrate from your bed show more you can series b there is 0 chads no destiny no fact that incident or hinder or control the cinema have that term and so recommendation eleven is the never stop learning the caribbean form and good books you have the number weather widget my bible on by george glitchen avatar der that along when we see 10 king bridge in the poll in very bizarre motivational a sparing angry am already you ca n't lean was bummed best be so a universe alone there a porn touch religions when comes to actually saving you fire a rat race for my kees with ketchup contributions and have all those videos the goal indeed that when CDA Lyceum in the most active Chile plausible and new of course will be wise in all-wheel of the people who left together the box that Redman in description below environments and 12 is the overflow you have a strategy Aramis Aegon reconversion mortgage it is a time rather in the morning that does not allow the needs to change the renewed hypes or rather in the morning the app more options and more flexibility in the queue the building fifty percent and King Johan and new loses a sixty-two that gate and in a purely morgens payments so I think there is a lot of humor morgens payments you may also be able to establish a tax free stream income the social media tyme come and get to the time in this video to go nobody yourself you can le morvan my book in chernaiev i only online those managers on the fences it is how a strategy cleo public gamechanger pio in your timing you have the toilet in my book while volumes on the books style the holistic time and prime revolution i can also just by the amazon search online a lame arm and your van de bin this is like rats link in the description below so you learn have my god of recommendations if you about fifty five and him just thing super terms definis par des video beneficial have the runs and oh please add a comment dumbell lo domino what sterile and actually to see your in the next episode or the financial pipelines [Music] [Applause] [Music] [Applause] [Music]

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Why This Investment System Can Help Retirees Worry Less About Their Retirement Plan

I want to share an investment system for retirees to hopefully assist you as you're thinking about and planning for your retirement we're also going to look at how to prepare your retirement for the multiple potential potential economic Seasons that we may be headed into so we want to look at the multiple seasons and then the Easy System that's going to help lower taxes and then lower risk as well now if I haven't met you yet I'm Dave zoller and we help people plan for and Implement these retirement strategies really for a select number of people at streamline Financial that's our retirement planning firm but because we can't help everyone we want to share this with you as well so if you like retirement specific videos about one per week be sure to subscribe so in order to create a proper investment plan in system we want to make sure that we build out the retirement income plan first because without the income plan it's much harder to design the right investment strategy it's kind of like without the income plan it's like you're guessing at well 60 40 portfolio sounds good or you know May maybe this amount in the conservative bucket sounds reasonable you already know and and you feel that as you get close to retirement that goal of just more money isn't the the end-all goal that we should really be aiming for for retirement it's more about sustainability and certainty and then really the certainty of income and possibly less risk than before the last 30 years uh the things that you did to be successful with the financial side are going to look different than the next 20 or 30 years now if you need help defining the the income plan a little bit then look at the DIY retirement course below this video now once you do Define your goals for retirement and then the income needed to achieve those goals then creating the investment system becomes a lot easier and within the investment plan we really know that we can only control three things in all three things we actually want to minimize through this investment system the first thing we can minimize or reduce is how much tax you pay when investing we had a a client who was not a client of streamline Financial but of a tax firm coming to the the CPA firm in March to pick up his tax return and he was completely surprised that he had sixty thousand dollars of extra income on his tax return that he had to pay tax on right away before April 15th and it was due to the capital gains being recognized and other distributions within his investment account and he said but I didn't sell anything and the account didn't even go up that much last year and I got to pay tax on it but he was already in the highest tax bracket paying about close to 37 percent on short-term capital gains and dividends and interest so that was an unpleasant surprise and we see it happen more often than it should but this can really be avoided and here's two ways we can control tax so that we don't have to have that happen and really just control tax and pay less of it is the goal and I'll keep this at a high level but it'll get the the point across number one is the kinds of Investments that you own some are maybe funds or ETFs or individual uh equities or things like that the funds and ETFs they could pass on capital gains and and distributions to you each year without you even doing anything without you selling or or buying but it happens within the fund a lot of times now we would use funds and ETFs that are considered tax efficient so that our clients they can decide when to recognize gains rather than letting the fund company decide now the second way is by using a strategy that's called tlh each year there's many many fluctuations or big fluctuations that happen in an investment account and the strategy that we call tlh that allows our clients that's tax loss harvesting it allows them to sell an investment that may be down for part of the year and then move it into a very similar investment right away so that the investment strategy stays the same and they can actually take a write-off on that loss on their taxes that year now there's some rules around this again we're going high level but it offsets uh you know for that one client who are not a client but who had the big sixty thousand dollars of income he could have been offsetting those capital gains by doing tlh or tax loss harvesting that strategy has really saved hundreds and thousands of of dollars for clients over a period of years so on to the next thing that we can control in our investment plan and that's cost this one's easier but many advisors they don't do it because it ends up paying them less now since we're certified financial planner professionals we do follow the fiduciary standard and we're obligated to do what's best for our clients so tell me this if you had two Investments and they had the exact same strategy the same Returns the same risk and the same tax efficiency would you rather want the one that costs 0.05 percent per year or the one that costs 12 times more at point six percent well I know that answer is obvious and we'd go with a lower cost funds if it was all the same low-cost funds and ETFs that's how we can really help reduce the cost or that's how you can help reduce the cost in your investment plan because every basis point or part of a percentage that's saved in cost it's added to your return each year and this adds up to a lot over time now the last thing that we want to minimize and control is risk and we already talked about the flaws of investing solely based on on risk tolerance and when it comes to risk a lot of people think that term risk tolerance you know how much risk can we on a scale of one to ten where are we on the the risk factor but there's another way to look at risk in your investment strategy and like King Solomon we believe that there's a season for everything or like the if it was the bird song There's a season for everything and we also believe that there's four different seasons in investing and depending on what season we're in some Investments perform better than others and the Four Seasons are pull it up right now it's higher than expected inflation which we might be feeling but there's also a season that can be lower than expected or deflation and then there's higher than expected economic growth or lower than expected economic growth and the goal is reduce the risk in investing by making sure that we're prepared for each and every one of those potential Seasons because there are individual asset classes that tend to do well during each one of those seasons and we don't know nobody knows what's really going to happen you know people would would speculate and say oh it's going to be this or this or whatever might happen but we don't know for sure that's why we want to make sure we just have the asset classes in the right spots so that the income plan doesn't get impacted so the investment system combined with the income system clients don't have to worry about the movements in the market because they know they've got enough to weather any potential season I hope this has been helpful for you so far as you're thinking about your retirement if it was please subscribe or like this video so that hopefully other people can be helped as well and then I'll see you in the next one take care thank you

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Retirement Planning During Bear Markets – Especially if It’s Your First One In Retirement

bear markets can feel a lot different when you're retired and you're no longer earning income from work especially if this is your first bear Market since you stopped working when you were younger you know you had time on your side you know you may have even seen drops in the market as an opportunity because it gave you additional time and you got to purchase more shares well things were on sale so to speak but now most likely that's not the case the relationship between our money and our accounts now are of money going out versus money going in to put it simply and plus you may have noticed that there's this psychological component now around money and not wanting to mess things up because the decisions we make really carried much more weight now when we're close to or in retirement and it's really that's not only psychological or emotional it's true because planning the distributions is much more complex than the the planning around around saving and putting money into the investment accounts what led to our investment success the last 30 years is a lot different than what's going to lead to success the next 20 or 30 years or at last that's at least what we've been seeing at streamline Financial since 1998 since we've been around so I want to share how to endure through bad markets if you're close to retirement or you're already retired and then what you can do to actually take advantage of of this even if you're already retired and you're no longer saving money and we're going to do that because we know a universal law of physics that can't be disproven and we can actually apply it to our retirement and make it a little bit better if you're thinking Dave what the heck are you talking about here's a brief explanation so Newton's third law of motion is that every action there's an equal and opposite reaction right you've heard that before so the way that I see it is there's a positive to every negative and the same thing there's a negative to every positive it's the law of polarity so I want to share what the positive is to take advantage of during bad markets and by the way if I haven't met you yet I'm Dave zoller and Tim and Luke and I and Sean we run streamline Financial it's a retirement planning firm and we've been around like I had said since 98 so we've seen clients really go through it all the.com bust the financial crisis and then covet and then all the things in between all those uh you know those mini panics that we've had so we created this channel to share what's working and what has worked for them and so that you can hopefully glean some wisdom from them and then apply it to your your own life so the first thing we need to be aware of is that the previous 30 years there were four bear Market Corrections so that's a drop of 20 or more and then the 30 years before that there was a total of five bear Market Corrections so the main takeaway is we need to expect these bear markets to happen during our retirement during that next 20 30 years right the second thing is we don't want to make a change solely on an emotion right and it's not not just making a drastic change like selling everything and putting everything under the mattress right it's we were just talking to someone yesterday and emotions can cause us not to take an action when we know doing so is actually the Smart Financial thing to do for instance during March of 2020 when it wasn't easy to rebalance your accounts it was very difficult to do but if you did follow through and and do the correct rebalancing system or strategy if you were looking back now it could have made a lot of sense the third thing is update your income plan because that helps guide us and make really good planning decisions around our investment plan so it's really start with the income plan you've heard that before and that helps us make the investment decisions versus the other way around and updating your income plan during bad markets that can also give you some confidence as well as you're looking at where we are today and then looking at over the next few years and and seeing that things maybe aren't as bad as it might seem at least when you've got those two things of the unknown and then the known updating the plan is the known and you can get a little bit better picture on what the future might look like for you now to the two things that maybe could give us an advantage during a time like this this is back to the law of polarity so the possible things that we might be able to use here are well first before I say it as always this is not specific advice to you so we're not looking at your your plan together so before you do anything just talk to a financial professional but idea number one to think about is tax loss harvesting that could be a way to write off some of the losses while still keeping your investment strategy intact and I talk about this concept a lot more in other videos so I'm not going to go into details on it today but just keep that in mind the one thing to to really pay attention to though when we're we're talking about the law or talking about tax loss harvesting is that wash sale rule right so look for the other videos or talk to that Financial professional before thinking about doing that the second thing that could be a possible opportunity for really the first time in a very long time is that ability or option to lock in higher yields in that conservative bucket as you know the the bucket strategy you've seen that before where we've got the possible three buckets and having that conservative bucket here is a great way to plan out and prepare for for bad markets and now at the time of this recording some of those historically conservative asset classes are paying a higher interest a higher yield than what we've seen really over the last decade which could be a silver lining during this period of time so those are just two things possible things to look at which maybe could be taken advantage of by you for for your benefit so those are just two things to think about during this period of time that we're in right now if that short video was helpful please like this and then share it with others if you think it could help them too and if you'd like to talk more about your plan feel free to reach out to me in the in the description below or go to our website streamlinedplanning.com for get you click on the get started button we don't always have space available but you'll hear back from me either way so I hope that was helpful and then I'll see you in the next video

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