Saving With Silverman

Delayed gratification is a difficult skill to master and that’s just as true with financial matters as it is in the other areas of your life. Let’s talk about some instances where you might be faced with a choice of being satisfied now or satisfied later.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-46-how-delayed-gratification-can-help-your-finances   What we discuss in this episode:  1:00 – Budget vs. 401k match 2:26 – Deduction vs. tax planning 4:18 – Social Security

Psychologists have determined that retirement is the 10th most stressful event that you can experience in life. Today we’re sharing some ways to proactively deal with that stress.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-45-how-to-deal-with-financial-stress-in-retirement    What we discuss in this episode:  1:06 – Lifestyle changes 2:08 – Retiring earlier or later 3:01 – New challenges 3:53 – Keep options open 4:50 – Sense of perspective

In today’s mailbag, we’re answering your questions. Carl wants to know if he can gift $150,000 to his daughter. Laura wonders what she should do with her money after retirement. And Eddie is debating whether to hire a financial advisor.   Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-44-mailbag-gifts-to-children-money-after-retirement-hiring-advisors   What we discuss:  0:33 – Gifting money to daughter 2:37 – Roll to an IRA? 4:05 – Hire an advisor?

Let’s talk about some of the red flags that people can look out for when they’re shopping for a financial advisor. Have you ever met with one of these types?   Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-43-manufactured-anxiety-or-worth-the-worry   What we discuss:  1:00 – Social Security going broke? 2:47 – National debt out of control? 3:34 – Climate change a serious problem? 4:43 – Economy grind to a halt? 5:49 – Stock market crash coming?

Let’s talk about some of the red flags that people can look out for when they’re shopping for a financial advisor. Have you ever met with one of these types?   Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-42-red-flags-with-questionable-advisors   What we discuss:  0:51 – Hammer 2:51 – Oxygen hog 3:55 – Car trunk 5:39 – Empty suit 6:41 – Non-answerer 8:48 – Just give us your money

Almost everyone has made investment mistakes at some point. We’ll share how to bounce back from mistakes and avoid making them again in the future.   Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-41-moving-on-from-investing-mistakes   What we discuss:  0:58 – What caused it? 2:07 – Increase savings 3:09 – Recalibrate your goals 4:42 – Get a real plan in place

Today we’re opening the mailbag and taking your questions about long-term care insurance, inheritance, and pension options. Is it OK to rely on a promised inheritance? What should you do if you’re too young to retire but are losing your job? We will discuss all of this today.    Read more and get additional financial information: https://silverman-associates.com/saving-with-silverman-podcast/ep-40-mailbag-long-term-care-insurance-inheritance-and-pension-options   What we discuss:  0:44 – Long-term care insurance 2:21 – Pension options 3:59 – Retirement money

There are certain retirement planning principles that apply to everyone, regardless of who you are, how much money you have when you’re retiring, or where you live. We are going to discuss some of these universal principles and what you can learn from them.      Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-39-universal-retirement-truths   What we discuss on this episode:  1:00 – Income plan 2:09 – Long-term care 4:06 – Timing the stock market 5:32 – Longevity

We talk about financial planning all the time, but plans aren’t concrete. You need to have some flexibility as the years pass. Today, we’ll share how to rebalance your portfolio and why it’s important.     Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-38-why-and-when-to-rebalance-your-portfolio    What we discuss on this episode:  0:47 – Rebalancing 2:04 – How often to rebalance 2:49 – Younger versus older 3:30 – Investment vehicles 4:28 – How long Mark has been doing this work 5:33 – Personal story

What is your biggest financial fear? There are some very common ones. We’ll explain how to help people address these fears in their retirement plan.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-37-facing-your-financial-fears    What we discuss on this episode:  0:45 – Running out of money 2:17 – Nursing home care 3:18 – Taxes 4:40 – Relying on kids 5:22 – Advisors

Getting through retirement can be a lot like running a marathon. We’ll share some of the similarities on this episode so you can make sure you training is on track.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-36-the-retirement-marathon    What we discuss on this episode: 0:53 – Planning and preparation 2:45 – Proper diet 4:13 – Don’t start too fast

On today’s Saving With Silverman podcast, Mark Silverman CFP® explains why you never want to make emotional decisions about your money.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-35-how-to-avoid-emotional-decision-making-with-your-finances    What we discuss on this episode:  1:28 – Types of emotion 3:18 – Mistakes 4:21 – Taking emotions into account 6:25 – Math and emotional needs 8:05 – Introductory phone call

Today we’re talking about famous last words. In the financial world, there are several famous last words that you don’t want to be your last.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-34-famous-last-words-in-the-financial-world    What we discuss on this episode:  0:47 – Keep doing what I’m doing 2:57 – Cash 4:20 – Living past 75 5:34 – Don’t want a nursing home 7:08 – I can always go back to work

Today we’re talking about Social Security misunderstandings. People are often confused about how it works and how it will work for them.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-33-social-security-misunderstandings    What we discuss on this episode:  0:47 – Going broke 2:12 – Starting Social Security early 2:59 – Delaying Social Security 4:16 – Social Security Administration 4:52 – You don’t have to pay taxes

On today’s Saving With Silverman podcast, Mark Silverman CFP® explains diversification. Most people we talk with don’t even understand what it is or why it’s important. Some people think it’s just a mutual fund or a ton of different mutual funds.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-32-diversification-what-is-it-and-why-do-you-need-it     What we discuss on this episode:  0:39 – Defining diversification 1:28 – How much emphasis 3:09 – How Mark defines it 4:18 – Too diversified 5:28 – Making portfolios better

On today’s Saving With Silverman podcast, Mark Silverman CFP® explains some of the different types of financial risks that people have in their portfolios and how to be on the lookout for it.   Read more and get additional financial resources here:    What we discuss on this episode:  0:52 – Market risk 2:05 – Interest rate risk 2:58 – Inflation risk 3:57 – Health care risk 5:26 – Longevity risk

Some people don’t care about leaving a financial legacy to their family, but for those who do, it’s important to eliminate some of the common estate planning mistakes. We’ll explain what they are.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-30-dont-make-these-estate-planning-mistakes    What we discuss on this episode:  2:35 – Failing to plan for expenses 3:49 – Failing to update beneficiaries 5:12 – Failing to avoid conflict and litigation 6:37 – Transferring real estate 8:06 - Taxes

On today’s Saving With Silverman podcast, Mark Silverman CFP® explains why your 401k is far from perfect as a retirement savings tool. This also applies to your 403b, TSP or 457 plans.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-29-watch-out-for-these-weaknesses-in-your-401k-plan    What we discuss on this episode:  1:00 – Administrative costs 2:10 – Mutual funds 3:34 – Limited asset classes 4:25 – Subpar conservative investments

The final decade of your working life is crucial to your success in retirement. We’ll explain why you need to know your numbers and how flexibility is key to winning with money.   Read more and get additional financial resources: https://silverman-associates.com/saving-with-silverman-podcast/ep-28-5-financial-tips-for-your-final-decade-of-work    What we discuss on this episode:  1:19 – What’s important? 2:44 – Knowing your numbers 4:40 – Estimate your income streams 6:37 – Health care 8:40 – Be flexible

Fewer and fewer companies are providing pensions these days. Unless you work for the government or a university, most people don’t have pensions. We’ll explain why they’re no longer very popular.   Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-27-what-are-pensions-and-why-are-they-not-as-popular    What we discuss on this episode: 0:31 – Fewer companies providing pensions 1:21 – Lack of a pension 2:35 – Pension buyout 3:30 – Planning for inflation