Something More With Chris Boyd Show Podcasts

AMR will be hosting an education webinar on September 20th to help people prepare for retirement. The webinar “Are You Ready for the Retirement Red Zone?” will be held from 10am to 11:30am. You can register for the webinar at AMRfinancial.com. The program will be recorded and posted on AMRfinancial.com and the AMR You Tube channel. Even if you are already in retirement the subjects we will be talking about will be helpful in case you missed something when planning for retirement or need to make an adjustment to your the plan. Having a financial plan helps take the guess work out of whether you be ready for retirement when expected or if you should adjust your plan. A plan will also help identify that you and your partner have a common vision going into retirement. When preparing a financial plan do some stress testing to ensure that you plan can hold up in the event that a worst-case scenario occurs. Some people save so long for retirement that they don’t give themselves permission to spend money that they ha

Are you aware of what you need to do to become prepared for retirement? Chris and Jeff talk about the upcoming education webinar “Are You Ready for the Retirement Red Zone?”.   The Retirement Red Zone is defined as the 5 years before and the 5 years after retirement. This is an important time to prepare financially and otherwise for retirement so there are no critical errors. During the webinar,  professionals from Asset Management Resources will cover topics such as: Ø  Your retirement lifestyle Ø  Cashflow – where to take money from and when to maximize return and tax savings Ø  Healthcare – options and costs Ø  Leaving a lasting legacy – estate planning, philanthropic intentions The Retirement Red Zone webinar will be held on September 20th from 10 a.m. to 11:30 a.m. If you are interested in attending, please register at https://AMRfinancial.com. Take the guess work out of whether you will be ready for retirement when expected or if you should adjust your plan by having a financial plan in place.

Dave Sampson, VP of Cyber Risk and Strategy at Thrive joins to talk about Artificial Intelligence (AI) and cyber security risk. AI is a machine learning mechanism that feeds data into software through algorithms that analyze data and determines how to dynamically provide with feedback, or even actions, based on what it known or what you are telling them. It is a rapidly evolving technology – there are huge benefits, but also negatives that can happen if we are not watchful. The ability for AI to impersonate a person is real – scams will become more sophisticated so those vulnerable will be at greater risk. Dave suggests calling the website phone number of a business who claims to have sent a communication to you to verify that it did come from them. Personal devices, such as cell phones and pads, need protection if company data is used on them.  In the future, there is a possibility of malicious code being embedded into cell phone software. Cyber mesh architecture is currently being worked on. It brings all i

Is there a viable presidential candidate in the crowd? Chris and Jeff discuss the August 23rd Republican primary debate. 8 members, who met certain thresholds, joined the debate of 12 candidates. They analyzed the performance of the candidates from their perspective. Currently, former President Trump is widely leading his GOP rivals in the polls. The next debate will be held on November 5th at the Regan Library. If you need help with financial planning issues don’t hesitate to reach out to Asset Management Resources at (866) 771-8901. Something More with Chris Boyd: https://amrfinancial.com/radio/ https://www.facebook.com/SomethingMoreWithChrisBoyd https://www.instagram.com/somethingmorewithchrisboyd/ https://twitter.com/SMoreChrisBoyd https://www.linkedin.com/in/j-christopher-boyd-cfp%C2%AE-b932169/ Asset Management Resources: https://amrfinancial.com/radio/ https://www.facebook.com/AssetManagementResourcesCC https://www.instagram.com/assetmanagementresources/ https://twitter.com/AssetMgmtRsrcs https://www

Sarah Daly and Kristen Boyd, along with Maria Raber, are chairs of this year’s 2023 Heroes In Transition gala. The 14th gala’s theme is Legacy of Love and will be held on Friday, September 22nd at the Coonamessett Inn in Falmouth. Heroes in Transition started in 2009, when Ken and Cyndy Jones lost their only son Captain Eric Jones in an Afghanistan helicopter crash. Since then, they continue to keep Eric’s legacy of service alive to active military members and veterans and their families through various programs that help develop a sense of community and resiliency for this population. The programs that they offer fill the gap between what government and other agency programs don’t provide. They offer a veterans’ equine warrior program, families in transition, couple retreats, etc. Tickets for the gala are available on their website. This year’s keynote speaker is Tim Whalen. John Terrio is the auctioneer. The live auction offers a Provincetown weekend, a weekend at the White Elephant on Nantucket, lobster bo

How much do you need to retire? This number is personal based on your desired lifestyle and goals (e.g., do you want to retire early, do you want to travel, etc.). It can also be a moving target because factors like inflation, interest rates, health issues, etc. may change. Brian encourages investors to know what they are investing in and to use the services of a financial professional to help with your portfolio. Some investments like ETFs, Index Funds, Money Market Funds, are easier to understand and you may not need all of the tools in the toolbox to do well. He suggests that investors: -        Get an emotional self-check -        Build a portfolio that you can stick with for the long-term -        Build an investment that you can understand and hold during difficult times He also says that consistent, persistent and investments that are predictable/growing at nice price will help investors to outperform market.

Are you about to get a divorce or currently going through one? Here are some things to consider from Scott Birmingham, CFP® and Jeff Tomaneng, CFP®,  who both hold their CDFA® (Certified Divorce Financial Analyst) certification and help individuals going through a divorce with their financial plan. Ø  Use an attorney who specializes in divorce or family law. Ø  Have money in the bank for typical life emergencies and to cover moving/housing expenses. Ø  Look at what expenses will look like down the road – what happens when alimony or child support ends? Ø  Set up a journal or cash transactions Ø  Freeze joint credit cards Ø  Consider if all asset divisions are equitable – some may have additional expenses associated with them If you need help with your financial plan call Asset Management Resources at (866) 771-8901. We offer a complimentary consultation. Recorded on August 17, 2023.

Scott Birmingham, CFP®, AMR’s Lead Financial Planner shares some of the things to consider if you are planning to retire early:       - You may not be eligible for Social Security, penalty-free IRA distributions, or Medicare.        - Typically, people have the bulk of their investments in retirement plans and therefore cashflow can be challenging when retiring early.      - If you retire early risk (are working fewer years) will you have enough money to cover your expenses?      - Another consideration is healthcare insurance. Pre-Medicare health insurance can be expensive.  Through the Internal Revenue Service 72T program (Substantial Periodic Payments) you can withdrawal from retirement accounts and avoid the 10% penalty. There are several restrictions, however, with this approach. If you need help with your retirement plan, reach out to Asset Management Resources at (866) 771-8901  if we can help. We offer a complimentary consultation. Recorded August 17, 2023.

Life insurance is especially important to have during your primary working years if someone (children, spouse, other) is dependent upon your income. If not one depends on your income, you may not need life insurance. It is important to know what kind of insurance you have and what it covers. In the event of severe weather, you may need additional insurance to cover extreme heat, floods, wind, fire, etc. In the case of life insurance, do you have whole life, universal, or a variation of universal life insurance? Are you familiar with the terms of your insurance policy? Some life insurance policies become void if premiums have not been kept up or there is an outstanding cash balance on the policy.  Chris and Jeff recommend that you put life insurance into context of your financial plan. If you need help with your financial plan, contact us at (866) 771-8901. To learn more about Asset Management Resources, visit AMRfinancial.com. Recorded August 10, 2023.

Scott and Jeff, Investment Advisor Representatives at Asset Management Resources, LLC, are both CDFAs (Certified Divorce Financial Analyst). In this episode, they share things to consider if you think you might be heading for divorce. First, is to get organized. Make sure you have knowledge of all of your joint and single financial assets. Make copies of three months of bank statements, investment statements, and tax returns. If there are financial records that don’t add up (e.g., high income spouse now not able to work, etc.), consider hiring a forensic accountant to do some research. Alimony and child support are not taxable or tax deductible, so consider that when developing a plan. The biggest financial items affecting one’s quality-of-life following divorce are court-ordered QDRO’s (Qualified Domestic Relations Order), which indicate how 401(k)s and pensions will be divided. Housing is also a big financial consideration when divorcing. If you are thinking about a divorce, Scott and Jeff encourage you to

Should you be concerned about last week’s CPI numbers, which implied an uptick for inflation? Brian explains that it was expected and that the market yields responded favorably after the reading. 90% of the increase was caused from a shelter number. It is expected that the shelter is going to come down in the next few months as the lag data comes in. Brian, Chris, and Jeff, also discuss if it Is wise to leverage your debt? This is the subject of Brian Regan’s article “Using Debt Intelligently”, which was recently published on The Street|Retirement Daily. Brian’s argument is that in some cases the math makes sense to leverage the debt. If you can borrow at a low interest rate and invest at a higher rate, you earn the spread. This is the case when someone takes a mortgage out on their house and invests their money at a higher rate, rather than paying the mortgage off. One big caveat in leveraging debt is to make sure that you have the discipline to keep accessible cashflow to pay the debt down/off. Also, even i

Saving for college is investing in the future. You will have to pay for a future liability (e.g., college) – whether that be saving for it today or paying off a loan tomorrow. Families have different values when it comes to paying for a college education. In some families the parents pay and in others the parents believe that the children should work and pay for it. Parents who try to do good and borrow to pay for children’s college expenses need to ensure that they have cashflow to handle that debt or their financial plan may not work.  What do you do if your financial plan doesn’t work? If you are in or near retirement, there are small things that you can do that may make a difference. These things include cutting spending, going back to work, starting retirement later, helping others less, etc., or a combination of things. Just get started towards making positive progress right away. Every person/family should have: 1) A cash flow statement or budget to make sure your money is going where you want it to go

Frank Frederickson joins Jeff Perry for a special Something More with Chris Boyd Cape Cod episode. Frank recently retired after 43 years with the Yarmouth Police Department, 12 as the Police Chief. Chief Frederickson showed his exceptional ability to lead in 2018, when Officer Sean Gannon was murdered and his canine was injured. Frank has taken on a new role as Director of Governmental Affairs for the Massachusetts Fraternal Order of Police. He talks with Jeff about some of the challenges that police face, what he plans to focus on, and how he is getting started. That includes setting priorities and working collaboratively on common goals.  Recorded August 3, 2023.

Brian Regan, CFA, Chief Investment Officer at Asset Management Resources, LLC, explains that stocks are ownership in a business. Fundamental analysis is analyzing the fundamentals of the business, applying valuation to that business, and comparing that valuation to the price currently being held in market. Everyone knows you should buy low and sell high. It’s hard to know what is low and what is high if don’t know what a company's’ value is worth. Value is what you get and price is what you pay, so you want to make sure you pay less than the value of the business. Brian encourages people not to make emotional investment decisions or play the market, and to use the resources of a certified financial planner fiduciary for your investment portfolio. If you need help with your financial plan, contact us at (866) 771-8901. To learn more about Asset Management Resources, visit AMRfinancial.com. Recorded August 3, 2023.

Jeff Tomaneng and Jeff Perry discuss Jeff Perry’s latest blog. “Take Control Over Your Financial Goals” focuses on how to take control of your life and purposely plan what to do with your money through setting SMART Goals. SMART goals are Specific, Measurable, Attainable, Realistic & Relevant, and Time-Based.  Read Jeff’s and other AMR Perspectives blogs at https://amrfinancial.com/resource/perspectives/ If you need help with your financial plan, contact us at (866) 771-8901. To learn more about Asset Management Resources, visit AMRfinancial.com. Recorded August 3, 2023.

Do you ask yourself “When my financial advisor provides me with a long-term projection for my financial plan, how often should I review the projections?” This episode’s “Ask the Advisor” question is answered by AMR’s Lead Financial Planner Scott Birmingham. Many factors go into making a financial plan, including income, expenses, comfort with the market, goals (retirement date, helping grandkids, travel, etc.). Scott encourages you to make a financial plan with goals so you will be putting your money towards the things in life that matter to you. Some of the top reasons that people don’t meet their financial goals in retirement are: Spending too much Not taking inflation into account           Not considering taxes           Not saving for capital expenses (e.g., new car, etc.)           Not planning for unexpected health issues Scott develops financial plans for hundreds of individuals each year. The Monte Carlo software that he uses runs thousands of simulations on a portfolio to determine their proba

People may leave their financial advisor if they feel that goals are mismatched, there are excess or unexpected fees, and if communication and/or follow-up is poor. Make sure your advisor is a fiduciary, keeps your money at an insured 3rd party custodian, and is transparent about fees.

Asset Management Resources (AMR) uses our Active Allocation approach to recognize what’s happening in market and adjust based on a client’s risk profile. During the first half of the year, AMR set up the investment portfolio to protect clients against inflation, while another part was setup for recovery. During inflation we took less interest rate risk on the bond portfolio, less beta in the equity portfolio, and were underweight in equity as a defensive stance. We kept some assets that could rally in the face of falling inflation and maintained some intermediate duration bonds. AMR went overweight in companies that we thought were getting punished too much (e.g., recognizable mega-cap names), that recovered nicely. We have seen the big rally from mega-cap growth stocks in the first half of this year. The reality is that there are other stocks that can benefit from falling inflation and that haven’t’ caught up –some small cap and high dividend yielding stocks. Where some people might be more excited about sto

Chris talks with Jeffrey Kleintop, CFA, Chief Global Investment Strategist & Managing Director with Charles Schwab about the state of the global economy, inflation, and the possibility of recession. What are the potential opportunities and risks with international exposure? Opportunities include recovery from recession and risks include geo-political concerns and weather. When it comes to investing, geo-political risks are not necessarily higher today than in the past. Extreme weather could cause some disruptions at a time when the global economy is already vulnerable. Weather disruptions most significantly impact food production and transportation of goods. What does a global recession mean for investors? Only manufacturing and trade currently seem to be in a global recession. Services (education, travel, financial, etc.) are doing ok; however, there is concern that this sector may be weaking in the 2nd half of the year and lead to layoffs. On the good side, a slowing economic picture means that prices h

So, you finally won the lottery. Avoid the common pitfalls of sudden wealth and take these steps to protect yourself: Secure your ticket – take a copy and place in a safety deposit box Hire good counsel – a financial advisor, CPA, and an estate lawyer  Set up a trust  Hire media representation Don't give it all away to charity or friends/family Have a plan figured out before you start spending Recorded July 20,2023