Advised | with Rick Luchini

In this episode of #advisedpodcast we dive deep into essential retirement planning tips to help pre-retirees avoid costly mistakes. Learn about the importance of **estate planning**, why every family needs a **will** or a **trust**, and how to fix common gaps like outdated documents and incorrect beneficiaries.  
Key Take Aways:  ✔️ Why 60-70% of families don't have an estate plan—and why YOU should.  ✔️ The difference between a **will** and a **trust**, and how a trust can help you skip probate.  ✔️ Easy fixes for mismatched or missing **beneficiaries** on 401(k)s, life insurance policies, and savings accounts.  ✔️ How to keep your estate plan updated as life changes.  
This guide is packed with actionable advice to secure your family's future, reduce stress, and ensure your wishes are honored. Whether you're preparing for retirement or already retired, these tips are crucial!  

Today Hamilton and I discuss the ways investing during your retirement should be different, and the many ways it may be similar to how your invested now.  We go over the big mistakes we see people make in this area, and bust some of the old schools of thought around this topic that you might still be subscribing to. 

Listen as Hamilton and I discuss real client scenarios that result in changes to their plans and how we handled them.  Life WILL throw you curve balls.  The only question is, do you know how to hit them. 

The challenges of owning individual stocks, and how we invest for our clients. Whether you're a DIY investor, or a client of a traditional firm, this episode is a MUST listen.  

Today's discussion covers the factors to consider before taking your social security.  Listen to how we help clients choose the right age to claim social security benefits. 
 
Subscribe on YouTube: https://www.youtube.com/channel/UCbXaSLydoMX7P_kDc5tYmyQ
Check out more from Hamilton: https://brandenburgfs.com/
 
 

Thinking of retiring before 65? Don't Miss This One! Today I shed light on Health Insurance in retirement with the help of insurance expert Jocelyn Wolf.  We cover how to get affordable coverage before 65, and some pitfalls to avoid now, and after switching to Medicare.   Although we mention our local state's exchange, most of these same techniques and concepts will apply to you anywhere in the US. 
TIME STAMPS: 00:00 Intro03:20 Health Insurance Before 6505:13 Premiums based on income10:31 Health Insurance through Pennie13:45 Managing Income and Taxes for Health Insurance21:22 IRMAA and  Medicare Premiums26:34 Medicare Advantage vs Supplement29:19 Utilizing Affordable Health Insurance Options
Meet Jocelyn:   https://www.evolveinsurancegrp.com/
Born and raised in central Pennsylvania, Jocelyn attended Bishop Guilfoyle High School in Altoona, PA.  Jocelyn is a 2013 graduate from Duquesne University in Pittsburgh, PA with a Bachelor’s Degree in Business Administration focused on marketing and sales. Jocelyn believes that trust is the foundation for a successful client relationship and is committed to acting as an advocate for individuals when navigating their various healthcare choices. Jocelyn is a licensed health and life insurance agent in Pennsylvania & Maryland specializing in Medicare.  Jocelyn is also AHIP (America’s Health Insurance Plans) certified. Jocelyn is committed to serving the communities where she resides by volunteering with organizations such as serving on the board for the Arc of Blair County and Gloria Gates Memorial Foundation.  Jocelyn is a 2020 graduate of the Leadership Blair County Program.PA Life & Health Producer #893265
Who We Are:The Advised Podcast is tailor-made for working professionals who are determined to make astute financial choices before they approach retirement age. We believe that everyone deserves the chance to optimize their financial decisions, regardless of their career or background. Our aim is to empower you with actionable advice that bridges the gap between your aspirations and your fiscal reality.
Unlocking Financial Insights:Join us as we sit down with industry experts who shed light on the intricacies of finance and unveil common misconceptions. Our engaging interviews provide you with practical takeaways that can transform your financial outlook. We're here to guide you through the labyrinth of financial choices, so you can confidently make decisions that resonate with your goals.
Why We Stand Out:At The Advised Podcast, we're redefining the norms of financial guidance. Host Rick Luchini, a seasoned financial advisor, challenges the status quo by offering expert insights without the hefty price tag. We understand that the financial advisory landscape often overlooks the needs of the working class. Our mission is to bridge that gap by providing you with the knowledge and tools you need to make informed financial decisions.
Educational, Energetic, and Empowering:Expect an engaging blend of education and energy in every episode. Our conversational approach makes complex financial concepts accessible, while our positive and direct style ensures you walk away with clarity and purpose. Tune in during your daily commute – our episodes are designed to fit seamlessly into your busy schedule.
Your Guide to Financial Confidence:Host Rick Luchini is your companion on this journey to financial empowerment. Alongside industry experts, he's here to empower you with the knowledge and resources you need to navigate your financial journey successfully. With a new episode dropping every week, you'll have a consistent stream of insights to guide your financial decisions.
The Message:At The Advised Podcast, we firmly believe that sound financial advice isn't a luxury reserved for those with massive investment portfolios. It's a universal right that impacts your family's well-being, your aspirations, and your peace of mind. Join us in unlocking the secrets of finance and take charge of your financial future – one episode at a time.Get ready to transform your financial perspective. Subscribe to The Advised Podcast and embark on your journey to financial empowerment today. Your prosperous future starts here.(Episodes release weekly, are under an hour long, and are perfect for your daily commute.)

Today is an important discussion around mindset for any stage of your financial journey. Listen as we discuss finding balance between saving and living, and defining success on your own terms.  Enjoy!
My guest, Brandon Lovingier, ChFC®, MQFP® aka The Enlisted Money Guy™, has served over 18 years in the Army – including deployments to Iraq and Afghanistan. He established Enlisted Money to help enlisted service members avoid the same mistakes he made and achieve financial freedom. He’s spoken at MilMoneyCon and loves mentoring other service members.
www.enlistedmoney.com

Ohan "The Money Doctor" is a certified financial planner who helps beginner investors navigate their financial challenges. In this episode, he passionately dispels financial myths and underscores the importance of accessible financial education. Listen in as he offers practical tips to those earning six-figure salaries but living paycheck to paycheck, encouraging them to transform their mindset and break free from financial stagnation.
We also shines a light on how to maximize your dollar, tips on card payment methods, the power of changing perceptions about needs and wants, and the critical role of setting clear financial goals. Be inspired to embark on your journey to financial independence by investing in yourself, leveraging opportunities, thinking creatively, and proactively seeking answers to your financial questions.
Learn more about Ohan at ohanthemoneydoctor.com
 

Today's episode is all about retirement income planning.  I chop it up with Hamilton Brandenburg, a virtual financial planner focusing on helping retirees spend money and save on taxes.  If you're doing your own napkin math and considering retirement, this episode will give you a lot to start thinking about.  
 
Check out more from Hamilton: https://brandenburgfs.com/
 
Key Takeaways:
Retirement income planning requires a flexible approach to spending, taking into account the specific needs and desires of each individual.
The 4% rule is often misunderstood and may not be suitable for all retirees. 
Cash flow planning is essential to determine the affordability of retirement.
Financial advisors play a crucial role in empowering clients to overcome money mindset and fear of spending.
Preparing for market volatility and crisis situations is essential for retirees
Retirement planning requires flexibility and ongoing updates to adapt to changing circumstances.
Tax planning is crucial in retirement to reduce lifetime tax bills and optimize financial outcomes.
 
Chapters:
00:00 Intro
01:24 Working Virtually 
06:37 Approach Income Planning
09:24 4% Rule vs Flexible Spending
13:13 Cash Flow 
20:19 Empowering Clients
27:56 Flexibility in Retirement
28:49 Importance of Ongoing Plan Updates
33:08 Impact of Taxes on Retirement
36:32 Roth Conversions
48:15 Retirement Expectations 
 

Exploring an unconventional approach to financial advice with Aaron Buchner, Financial Planner and owner of Cactus .
Aaron discusses balancing living in the moment with future planning. We challenge the traditional emphasis on retirement and building wealth, suggesting that you should prioritize happiness and fulfillment in your work and personal lives. We highlight the importance of finding a balance between delayed gratification and enjoying life today, as well as the need for financial advisors to support individual goals rather than prescribing a one-size-fits-all approach.
Key Takeaways:
Plan for happiness and fulfillment today, rather than only focusing on retirement and building wealth.
Find a balance between delayed gratification and enjoying life now.
There are multiple paths to financial success, choose the one that aligns with your unique circumstances and aspirations.
Financial advice should support your goals and provide guidance toward happiness and financial security.