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Untucked Episode 84

Click here to listen to our Coach’s Corner segment where we discuss all things gifting.

Click here for the full Untucked Episode 84. You can also listen to the full episode on Spotify, Apple, or Google podcasts.

Untucked Episode 84 – Gifting

Jeff Mastronardo: [00:00:00] What we got, Meg Coach’s Corner

Meghan Tait:. We’re gonna talk about gifting. Okay. And the transfer of wealth. So one of the more common planning scenarios we deal with is gifting both to people and charitable organizations. So what we wanted to discuss today is, um, how some of our clients choose to approach it. Some of the difficulties we often see in the conversation, and really the execution and maybe how we think some of those, um, difficulties or concerns can be lessened or alleviated.

Okay, so the reason this kind of came up is I recently met with a client who has more than enough money to be able to significantly and impactfully gift to family members, gift to organizations she’s passionate about, and she’s struggling with it. She’s struggling with it because she wants to. She wants to kind of [00:01:00] dictate how the money is used once it’s gifted.

She wants it to be, she uses the word responsibly. She doesn’t want it spent frivolously, and she’s struggling with. You know, kind of getting out of her own way, I guess, for, for lack of a better word, cuz it’s, it’s not at all a concern from a financial standpoint whether or not she can afford to do it.

But she is the daughter of, you know, great depression parents and has accumulated a ton of wealth, but just can’t really see through the gifting. Execution

Jeff Mastronardo: and it’s either gift with no restrictions or don’t

Meghan Tait: gift. That’s how we see it. Yeah, I mean the, the adding the restrictions just, we get to this place where people don’t do anything.

They keep talking about wanting to do it, but then they actually don’t do it.

Jeff Mastronardo: So you and I were talking about this and, um, the only solution I could think of, which I don’t think is a viable solution, right? If grandmom says to, to grandkid, I’m gonna gift you X amount of [00:02:00] money, uh, but I want you to use it responsibly and do this with it.

That’s not gonna work. So if the, the only other way I can think of is, is grandma is a part of those purchases. Like, Hey grandma, I’m gonna use your gift to buy a car. Well, grandma doesn’t want Johnny to go out and get a Corvette. Well then, okay, Johnny, I’ll go with you, like do some car research and I’m gonna go with you to the store and I’m gonna write the check.

That way she can control, you’re gonna get like a Kia instead of a Mercedes, but like, what, what, what grandparent? Who’s gonna do that? Right. Who, who’s gonna be involved in all of those Right. Decisions and, and just if you have enough money and your advisor tells you you do just gift or don’t. Yeah. Right.

If you feel like it’s gonna lead them to be irresponsible, then don’t. And I guess maybe now that I’m like thinking out loud as I talk, like that’s a real problem because if they don’t gift, then they’re gonna leave [00:03:00] more to the kids. And if you think they’re gonna be irresponsible when you give ’em 17 grand, well isn’t that more frustrating that they’re gonna be super responsible when you’re dead and you give them two and a half million, but I guess you’re dead, so who cares?

Yeah. I just won’t gift and then I’ll die and I won’t know what they did with it.

Meghan Tait: Yeah. Um. I, I, I, I don’t have, that’s it.

Jeff Mastronardo: Now I’m putting myself in their, in, like their spot. Like yeah, that’s a toughie. I guess I’d rather just give it to them and then be disappointed that they’re using it for whatever, but at least I, I, I was able to help them in some form or fashion while I was alive and watched him blow it on stupid

Meghan Tait: stuff.

I may be like oversimplifying it, but if it’s a genuine concern, having that conversation with the recipient of the gift. Like, Hey, I have an opportunity to help and I, I would like to see this money used thoughtfully or responsibly by whatever measure, or even if it’s just saying [00:04:00] those words like, aren’t most people like I.

Gonna be considerate of that. Maybe I’m giving too many people the benefit of the doubt, but like, I don’t know. In this case, like she’s talking about her grandchildren who are 30 years old, have kids of their own, like very likely the use is gonna be. You know, summer activities or paying the daycare bill.

Like I know that there are scenarios where the money is used incredibly irresponsibly. I’m not suggesting that it’s perfect all the time, but I guess in my mind, like you say how you feel to the person who’s gonna receive the gift and then you hope for the best.

Mike Traynor: Yeah, and I think, you know, Jeff, your, your example of the car is probably a little bit impractical to think grandmom’s going to the.

You know, Toyota dealer or whatever. But if it’s something like a down payment on a house, right, that’s specifically a check written that that’s part of that transaction, [00:05:00] it’s probably super helpful to the, to the kid or kids. Um, and that’s a great way to help somebody who’s younger, who otherwise maybe couldn’t afford to, to buy a house.

Um, Just writing a check though and giving, just giving money cuz you’d rather give it to ’em while you’re still alive. And the more substantial that check is, obviously the more problematic it it could be because it’s, um, at that point it might be spent fri frivolously or whatever. I don’t know. Um, to me I feel like the gifting thing, the smaller, the smaller gifts to me are.

Way more, way less should be, way less of an issue. I think when it comes to it, it’s really the encouraging, or not, maybe that’s not the right word, but, um, um, helping create potentially a situation where somebody just plays video games all day because they don’t have to get a job now [00:06:00] that there’s a lot of money come in their way or has come their way.

And maybe that leads into the other part of our conversation, which is, which is the, um, Where are we gonna talk about like the family planning, the family planning aspect, where there is a substantial inheritance, um, that may or may, may not be known about, and is it good or bad to talk about that as a family prior to that happening?

And yeah. What are the pitfalls there?

Jeff Mastronardo: Yeah, I’m a, I’m a big fan of having family generational planning discussions, right? Like, Mom and dad have a couple million bucks. They live very modestly. They have two kids. Those kids are gonna inherit two, 3 million bucks each. Um, I think, yeah, I, I think it’s, it’s in everyone’s best interest to have that conversation with, you know, son one and daughter one.

Like, look, we [00:07:00] we’re not going to go through our money. You’re gonna get $2 million at least when we die. Because I think that can help them now start to maybe modify their planning. Like maybe you don’t have to save as much in your 401k, or maybe you don’t have to struggle the way you’re struggling now because there is going to be an inheritance.

And we always tell people when we do our planning for people in their sixties, like you can’t bank on the inheritance. But I think that’s different. I think that that other generation didn’t have as much wealth as this generation does. So it’s like our clients will have like a million or 2 million bucks and they’re kind of on the cusp of being able to, to live comfortably.

And they may get an inheritance from mom for 400 grand, which can really kind of changed their life. Um, and we tell ’em, you can’t, you can’t bank on that. I’m talking about a bigger wealth transfer, um, to young, to a younger generation. I think it’s. It the, I think the conversation absolutely should be had.

Meghan Tait: Well, and, and the conversation. Maybe that’s what [00:08:00] we as Advi advisors can encourage to make what we were fir first talking about the gifting discussion easier, right? Like if there’s this open line of communication and mom and dad can say, Hey, you know, we don’t live your scenario. We don’t need our, a ton of our money.

We live very modestly. There’s going to be an inheritance. Well, maybe the kids are then raising their hands and saying, Like we need help with college funding in five years, so I don’t wanna wait 15 more for you to die. How about you contribute to your grandchild’s college education? Like maybe it allows for more, more opportunity to help while mom and dad are still here.

Cuz I keep coming back to that like, Wouldn’t you want to see if you could, wouldn’t you want to see your money positively benefiting your family? And to me, that opportunity should [00:09:00] outweigh maybe the one-off frivolous expense or the one vacation that you wouldn’t have sanctioned or you know, the upgraded car purchase.

Like to me, that opportunity. Maybe because we’ve now created that generational approach to the discussion, um, maybe it encourages more people to do it because I do believe a lot of the concern we talk about people having is a generational thing. The pe, the age of the, the demographic of the clients we see who can’t get over the hump are.

Like, I don’t think that’s going to be a perpetuated issue we deal with. Agree. I agree on. Does that make sense? Yeah, I agree a hundred percent. So maybe for now, the way that we can help again, like execute on these like thoughts or ideas is by having the rest of the family like actively participate in the conversation.

Jeff Mastronardo: I mean, I’ve, [00:10:00] there’s been many circumstances that I’ve personally been a part of where we’ve had those conversations. And it’s impactful when you, when you’re talking to mom and her boys and mom lives on her social security and a pension and has $400,000 in a Roth IRA and she’s 80 years old. Well, that Roth IRA shouldn’t be invested for the 80 year old.

Right. She’s never gonna use it. And I’ve, we’ve, we’ve had this conversation with clients. Yeah, let’s invest that 100% stocks for the next 10 years that you’re gonna be alive cuz it’s just. It’s going to grow more and it’s gonna be a bigger impact for these kids. Like that’s kids’ money. I’ve, I’ve said that a million times.

This is basically your kids’ money, so let’s invest it for them kids. Are you okay with that? And they’re always like, yes, let’s do that. Of course. Yeah. That’s why I just think it needs to be a bigger conversation. Um,

Meghan Tait: um, yeah, but my, I guess the issue I see most is that, The mom and dad [00:11:00] just don’t, they can’t wrap their brains or grasp the amount of wealth they have, right?

There’s the constant like, well, what if? What if, what if? And I can think of multiple scenarios where like, there isn’t a what if there isn’t a what if That could be put in front of me that I would. That would even concern me, right? So it it, it’s without concern that we can unequivocally say, give gift, invest for the kids and still doesn’t happen because

Jeff Mastronardo: those what ifs are never going to be something that’s just going to make you go.

Bankrupt. I mean, unless you were doing something really crazy stupid with your money. Right. But like, even like a concern that, like Mike brought up a few, a few months ago, like the, the, um, SVB debacle. Mm-hmm. And you know, your bank accounts and your money markets going below $1 share. Like, okay, but then that will get corrected and we’ll figure it out.

Right. The only [00:12:00] thing that’s like, the only thing that could happen that is a zombie apocalypse. So we, but we’re not, we’re not preparing for that. Right. Yeah. It’s, I think I agree with you, Meg. I think it’s generational. I think it will go away. I think the 60, the 55 to 60 year olds that we’re dealing with now Yeah.

Won’t have as big of a hangup when they’re 80. Yeah. I think they’ll get it unless they start going senile and like start losing their minds. Um, but that’s, it’s, it’s something that I think people should be talking about with mom and dad and with each other about their family’s wealth so that we can just be better at what we do.

Meghan Tait: Yeah, and, and I mean, we can only take it so far, right? We can only help, we can only help move the conversation. We can only give the ideas, but I mean, without someone willing to, to execute, it’s, it’s just a lot of talk. And I guess that’s where my frustration lies. There’s a lot of talk with certain situations recently for me, [00:13:00] and they seem like no-brainers and I don’t know how to.

Push anymore.

Jeff Mastronardo: Yeah. And I feel like there has definitely been more people that are willing to have that conversation. I feel like, yeah, let’s, 10, 15 years ago when I would say to someone, are you willing to like, you know, share some of this information with your kids and, and bring your kids in so they can understand the planet was like, no, I don’t want my kids to know how much money I have.

I, I feel like recently there’s been more acceptance of that. That’s true. I agree with

Mike Traynor: that. Mm-hmm. There is a threshold that just to before we leave this, yeah. Um, I feel like there’s a threshold of wealth at which it starts to be the, the, the issues become much more complicated. So talking about a few million bucks or right.

Five or 10 million. But when you’re talking about 5,000, you know, lots and lots of, of, of assets, you know, at that point you have real concerns about. Okay. Family planning. Our kids know that they’re inheriting just sure they don’t have [00:14:00] ever have to work. Their kids don’t have to work. How are we gonna get them to work?

How are we gonna create a work ethic in our, in our, their, our kids and their kids? And that, that kind of thing. So,

Jeff Mastronardo: um, I can’t help you with that. Michael. Yeah. What does Jay-Z say?

Meghan Tait: No money, no problem.

Jeff Mastronardo: Was that Jay-Z? No. Where’s that? Biggie? I think it was, I think it was, uh, uh, puffy, actually. Puffy and Mace.

Yeah, you might be right. I think Biggie was dead when that came out. His track was, uh, was added afterlife. Mm.

Meghan Tait: Should have consulted with the resident rap connoisseur. All right, well, no answers were found through that.

Jeff Mastronardo: Sorry.

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Untucked Episode 83

Click here to listen to our Coaches Corner segment where we discuss what different generations look for in financial advisors

Click here for the full Untucked Episode 83. You can also listen to the full episode on Spotify, Apple, or Google Podcasts.

Episode 83 What Different Generations Value

Meghan Tait: [00:00:00] So today we are going to talk about a tweet we came across from Samantha Russell. Samantha, um, tweeted a graphic that, uh, was from a white paper recently published by Fidelity. The white paper covered a lot of ground, but what we wanna focus on today is the differences in serving different generations, specifically generation Y and generation Z compared to boomers.

Um, the graphic itself, kind of I’ll say categorized the types of things those groups of people may or may not be looking for in a financial advisor. So the, I’ll read Samantha’s tweet. Her tweet said that this new generation does not want a financial advisor. They want a life coach with a side of financial planning and investment advice.

And then the graphic they shared indicates that younger generations value holistic wealth. Planning, um, which they’ve defined [00:01:00] by certain categories helping you achieve overall life goals, peace of mind, and financial planning. And then there’s the investment or portfolio management component, which the point they’re trying to make is that compared to boomers who prefer a advisor who does investment in portfolio management, younger generations are in theory looking for, I’ll say more.

Or a different level of se different

Jeff Mastronardo: type of service. I agree with that a hundred percent. Um, where I didn’t necessarily agree with it, but I didn’t do a survey like Fidelity, is that this next generation is ranking, investment and portfolio management as their kind of, their number one priority based upon the percentages in this tweet.

Right? Right. Managing the money was 32%. Mm-hmm. Achieving goals was 29% or 28%. Yeah. So it’s still, and I just don’t agree with that.

Meghan Tait: Like you don’t agree with what she took from it?

Jeff Mastronardo: Yes. Yeah. [00:02:00] Uh, and, and just from my experience, like personally, I focus more on the financial planning stuff with my advisor and I care way more about the financial planning stuff than I do about in the investment management.

And maybe that’s a function of. My understanding of investment management. Sure. And I’m 45 and I don’t even care to look at this stuff for another 20 years. I just wanna let it go, let it grow, be as aggressive as possible. I don’t care what funds you use. And I, and just maybe cuz I know a little bit about it Sure.

But I would have to guess, and you deal with more of the younger demographic than I do, um, but it seems like all the financial planning stuff is a greater concern to them. Than like the timing of what we’re gonna buy and are we moving in and out of, of Bitcoin or should we, you know, um, eliminate an international holding.

It’s more about how do we pay for college? How much should I save? Do I [00:03:00] have enough to retire? Um, should I buy or lease this car? Like, I think I would have to guess it’s more for, for that demographic. It’s more about those other questions I just mentioned rather than investment management.

Meghan Tait: Yeah, I, I think that’s fair to say, although I think a lot of those things are not, and, and maybe some of them are, but a lot of that stuff isn’t maybe things people are thinking about.

So what I mean by that is often what’s gets people in the door is. I don’t understand what to do with my 401k, or I inherited a brokerage account from so-and-so, what do I do with it? So I think the financial planning, while it’s critically important, and people through processes learn that they should be asking certain questions.

A lot of the times, in my experience at least, it’s not typically what gets them engaged with an advisor. There’s often. An investment related question or concern or their mind that leads them here, [00:04:00] and then the discussion broadens and they realize, oh, shit. I have a lot of other questions in a lot of other areas.

But that’s maybe my, and I mean, I’m agreeing with you, Jeff, like there’s a lot of other things that they think about and are worried about, but oftentimes the initial concern as to why they engage with a professional is investment related. You’re dead right.

Jeff Mastronardo: You’re dead Right. Absolutely. That initial.

It’s, I got an inheritance. Yeah. Uh, we wanna sell a house. What do we do with the money? Yeah. I’m leaving this company, what do I do with my old 401k? And then when you have the discussion, well, yeah, we do manage money. That’s kind of a, a small part of what we do. Let me tell you what else we do. And it’s like, oh my God.

You’re right. Yeah. There are a lot of decisions I have to make and I think they do grow into understanding. It’s more about the financial planning and the investment stuff is easy. Totally.

Mike Traynor: Yeah. I think I, I guess my, I would say it’s hard to, when you, when you say to somebody, Investment or portfolio management, financial planning, other [00:05:00] categories.

It’s hard to know how, what they think that means cuz it’s just a phrase. Mm-hmm. So for example, I would, I would say the, they’re saying the boomers here and they value the, the thing they value the most is investment and portfolio management. And Jeff, you’re saying that’s probably too high relative to some other stuff and probably it is, but I.

I, I would say that a lot of people probably think that all of the things around the money, their money withdrawing money when and where, from my ira, from my, from where, like that part of it in their minds probably is investment management, portfolio management. It’s not just the stock picking or fund picking or whatever.

So I feel like that’s, that makes sense to me as to why that would be basically half. 50% of the, of the, this poll was, was saying that those, the boomers value that, um, to that extent. Cause I think that that’s such a [00:06:00] large piece of what you’re doing with them at that stage of, of their lives is planning for this stuff and executing on it.

Not just the in actually investing in it, but figuring out. Um, how they’re gonna pay for things like where it comes from and that sort of thing. That’s all.

Meghan Tait: Which is the opposite for a younger person. Yeah. Right. Those types of questions aren’t even on their mind yet. Which would make sense why they would maybe gravitate in this if they have to pick among these, you know, things they’re looking for.

Why you might gravitate towards, oh, certainly I want peace of mind, or mm-hmm. I want to build a financial plan cuz I have. 50 grand in my 401k. Like it, it’s just, it’s not that it’s unimportant, but it’s not as consequential. I didn’t really think about it like that, if that

Mike Traynor: makes sense. And peace of mind is a bad phrase.

I feel like in this poll it should be, it should be rephrased to something like confidence in my professionals that are, that I’m working with. Like, that’s [00:07:00] like how important is that for you? And that’s, that should be. I mean, that should be probably the same for both groups, I would say. But, um, peace of mind is kind of a weird phrase.

Jeff Mastronardo: When the Boomer demographic comes to see us, it’s 50 50 to me, 50% of them come in and they’re like, really? Like their main priority is investments and what’s your philosophy and what’s your, what’s like, how do you manage money and what do you charge on that money? And the other half are, we need a plan.

Mm-hmm. And maybe even til it’s a little bit more to the, to the latter where more people come in, we, we just, we need a plan. Yeah. Or we’re really

Mike Traynor: disorganized and we need some help with all that. Yeah. Mm-hmm. But there,

Jeff Mastronardo: there’s the other half I feel like, that come in and it’s all about the money. And because they’re so conditioned, because they’re the older demographic, they’re conditioned to, that was the only value proposition people had was 1% to manage your money.

And thankfully the industry has. [00:08:00] At least some of the industry has shifted to, that’s, again, that’s the easy piece. Like it’s not difficult to manage money. It’s not super easy, but there’s so many more complexities with your plan that should be addressed and should be perfected and should be optimized.

Um, and I think that, that, that’s not in the, in the view of a lot of the boomers that we see. Sure.

Meghan Tait: I have a little bit of like, beef with, maybe that’s not the right word. The way she says like, they want a life coach. Like I know that the things that we talk through with people are a lot, there’s a lot, right?

There’s a huge, um, you know, there’s variety. There’s a huge, what’s the word I’m thinking of? Like, Just the types of things that we talk with people like life coach, right? It’s

Mike Traynor: not like, should I take this job or that job? Like walk me through this. Like right. That’s not right.

Meghan Tait: I, I guess I [00:09:00] struggle with like, and I mean there are elements of a lot of decisions obviously that impact finances.

I understand that, but I guess I kind of feel like life coach is too big of an umbrella. For financial planners to like be

Jeff Mastronardo: under. I think it falls under what we do though, you know, and people bitch about what we charge. Some people, you know, and like, you know, they hate the a u m model and all that crap, but it’s not, I mean, I have story after story of client that has called and said, I’m gonna take, you know, I was offered a position at this, at this other job.

It’s 30 grand less, but. I think I’m like gonna be much happier there. Like, what do you think I should, that doesn’t fall under like my job description, but there is money involved. Yeah. And we know, I mean, a lot of, of, [00:10:00] of the information around this person or this couple, I mean, how many conversations are we in?

How many meetings are. I haven’t even talked to you about this yet, Jan, or I haven’t even talked to you about this yet, Bob. Yeah. And there’s tissues, and there’s tears and there’s like, and there’s arguments and there’s fights. Like we’re in the middle of a lot of it. Yeah. And people that don’t understand what we do, don’t get it.

They don’t understand. There’s investment management, there’s financial planning, there’s emotional coaching, there’s handholding, there’s, you know, we’re trusted advisors for big, big decisions that they have to make. And if it’s not, Health related. They like, they don’t come to us with their health cause they know we can’t handle that.

Yeah. But there’s a lot of other tax like, and they lean on their accountants for a lot of this stuff too. But we know more than the accountants. We know more like the accountants don’t know how much money they have. They get 10 90 nines. They get tax documents. They have no idea. We’re talking about their kids and their grandkids and it’s, they’re dogs.

Like it’s crazy.

Meghan Tait: No, you’re right. I [00:11:00] mean I’m like thinking about how I walk back, what I said, cause you’re right.

Jeff Mastronardo: We end up being life coaches as as much as you may not want to admit it. Maybe I just hate the phrase, it’s a stupid phrase. It’s a stupid phrase, but we’re like conci for all of our clients, dude.

Like they look at us as these trusted advisors. That isn’t just about the money. A lot of the stuff comes down to money. Yeah. Right. And we know like that’s what most people fight about, right? It’s. It’s sex, it’s money, it’s relationships, and we’re at the center of that. Um, I kind of enjoy that part of our job.

I, I really do appreciate, and it’s well documented that like when people say, Hey, I want to pick your brain, like it makes you, it, it, it puffs you up. It makes you feel good about yourself, that people really trust you and want your opinion on something. Um, But when you know a lot about someone’s life, yeah, I mean you’re [00:12:00] the person they’re gonna go to and ask.

So life coach is a stupid term, but that kind of coaching is absolutely what we do. Yeah, you’re right. And we get paid for it and we deserve it. And you know, if you don’t want to do that, then fine. Go pay a CFP for $150 an hour to ask them if you should do a Roth conversion. Like, right. Or if I can, if I can afford to take this other job and they’ll run a freaking model for you in an hour or two, and it means absolutely nothing.

Meghan Tait: Has there ever been a podcast where you haven’t said Roth conversion on it at least

Jeff Mastronardo: once. If I didn’t say Roth conversion, I said social security planning. Yeah.

Uh, I think it’s an interesting topic to see what people value. Um, I think it’s a good, um, survey because if, if it’s seen, it gets people starting to think about, all right, maybe this isn’t just all about investment [00:13:00] management, like what else is out there? Yeah.

Meghan Tait: Okay.

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3 risks to your retirement savings

By Kevin Janiec CFP®, MBA

You’re in your 60s.  You have more than $1M in your retirement savings.  You’re feeling ready to call it quits. Fantastic! 

But before you put in your “two weeks” notice, consider three factors that might make your nest egg less valuable than you think:

Inflation: Inflation has all of our attention right now. But whether inflation persists as rampant as it is this year or as light as it was in the preceding decade, this invisible force is inevitably going to increase the cost of living throughout your retirement.  Your retirement nest egg is not likely prepared to afford your future needs if it doesn’t keep growing. It’s essential to keep a significant portion of your money invested to outpace the continuous increase in prices.

Taxes: A meaningful percentage of your retirement savings could ultimately be shared with the IRS. It’s important to be aware of the tax implications of your accounts and prepare your income plan accordingly. If your retirement savings are primarily located in a 401(k) or Traditional IRA, you’ve done a nice job taking advantage of tax-benefits over the years as you grew these accounts.  However, this is when Uncle Sam becomes a significant business partner of yours.  Maybe you have a large portion of your savings in taxable non-retirement accounts. Even here, you’ll also likely be subject to capital gains taxes when using this money.  Having tax-efficient income sources will be key to stretching the longevity of your savings. 

Sequence of returns: In the early years of retirement, the market returns of the portfolio that you are drawing from are critically important.  Even if the market does well in later years, big losses early in the withdrawal period can significantly increase your chances of running through your savings.  The investing strategy that got you to this point as an “Accumulator” could be detrimental with poor timing as you become a “de-cumulator.”  Bucket your savings accordingly and draw from your money thoughtfully. 

Unfortunately, retirees have no control over any of these three factors. 

Fortunately, all of these factors can be effectively prepared for. 

First, gain awareness of these risks. ☒

Then, seek guidance to customize the timing, source, and sequence of your “retirement paycheck” strategy.

It will make a considerable difference on the retirement lifestyle that you can afford. Most importantly, a thoughtful withdrawal strategy will increase the sustainability of your wealth. 

We’ll dive into each of these factors in future blog posts. Reach out if you would like to discuss how each of these risks impacts you specifically. 

Hear our team talk about the challenges of oversimplifying retirement income. Check out this brief “Coaches Corner” segment of the Untucked Podcast.

Investment Advice offered through FC Advisory LLC, a registered investment adviser doing business as “New Wealth Project” and as “Financial Coach”.  This content is provided for informational purposes only.  Views and opinions expressed are those of the authors and do not necessarily reflect those of FC Advisory, LLC.  Information provided is not and should not be interpreted as investment, tax, legal, or other professional advice or recommendation by FC Advisory, LLC or the members of our firm.  Always consult the appropriate professional regarding your specific situation before implementing any options presented or inferred.  FC Advisory LLC, All rights reserved.

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