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Your REAL personal finance questions answered by CERTIFIED FINANCIAL PLANNER™ professionals, Scott Frank and James Conole. With all of the misinformation and jargon in the financial industry, it's no wonder most people are confused about how to best manage their money. James and Scott are here to give clear answers to the important questions they hear most often. If you're ready to use your finances to create a more secure financial future, this show is for you.
Ready For Retirement is the podcast dedicating to helping you learn the tips and strategies that will help you achieve your retirement goals. When it comes to retirement planning, it can quickly become overwhelming and easy to not take action. I designed this podcast because I want you to have the knowledge and confidence to create your secure retirement. My ultimate goal for all of my clients (and listeners) is to create peace of mind and that starts with having a strategy. I want you to sp ...
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Real Personal Finance
1
170 - Where Should I Invest My Excess Income?
27:35
27:35
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Scott and James discuss where to invest excess income. NEW: We're on YouTube here! Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - We're on YouTube HERE! 4:19 - Anonymous Example 10:02 - Cash Flow 17:38 - Roth Contributions 22:41 - Ri…
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Ready For Retirement
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What's the Best Way to Help My Kid Buy a Home?
17:58
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In this episode of Ready for Retirement, James discusses the best way to help your children buy a home. Questions Answered: How can I best help my child buy a home? What are the best strategies to help? How does this impact my overall retirement plan? Check out the podcast on YouTube here! Check out our main channel on YouTube here! LET'S CONNECT! …
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Real Personal Finance
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169 - [New Format!] Are Your Investments Too Concentrated?
26:42
26:42
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Scott and James discuss if your investments are too concentrated. NEW: We're on YouTube here! Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - We're on YouTube HERE! 5:03 - Individual Context 7:32 - Budgeting 13:45 - Importance of Trac…
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Ready For Retirement
1
How to Best Align Your Portfolio with Other Income Sources
17:09
17:09
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In this episode of Ready for Retirement, James discusses how to best align your portfolio with other income sources. Questions Answered: How can I align my portfolio with my other income sources? What are the best investments for your specific goals? How do your investments and other income sources connect to your overall retirement plan? Check out…
Scott and James discuss how to understand the stock market. NEW: We're on YouTube here! Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - We're on YouTube HERE! 6:31 - What is the "market"? 10:28 - Investing in the "winners" 18:09 - Wha…
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Ready For Retirement
1
Should Gold Be Part of Your Investment Portfolio?
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In this episode of Ready for Retirement, James discusses if gold should be part of your investment portfolio. Questions Answered: Should gold play a role in your investment portfolio? What are the best investments for your specific goals? How do your investments connect to your overall retirement plan? Check out the podcast on YouTube here! Check o…
Scott and James discuss what insurances you need (and don't need). Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - Insurance 7:01 - Proper Protection 10:41 - What Insurances To Avoid? 17:36 - Long-Term Care Needs 16:57 - Debt & Real E…
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Ready For Retirement
1
What Are the Best Strategies for Reducing Required Minimum Distributions?
26:17
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In this episode of Ready for Retirement, James discusses the best strategies for reducing RMDs (Required Minimum Distributions). Questions Answered: How can you minimize Required Minimum Distributions? What's the best account for your specific goals? How do your investments connect to your overall retirement plan? Check out the podcast on YouTube h…
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Real Personal Finance
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166 - How Does This Market Impact How We Pull Funds from 529 Plans?
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Scott and James discuss how this market impacts how we pull funds from 529 plans. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 5:49 - Stocks & Bonds Correlation 9:58 - Cash Flow & Risk Level 14:49 - What Is A Good Rate? 18:50 - Additional…
In this episode of Ready for Retirement, James discusses how you can avoid the pitfalls of asset location. Questions Answered: How can you effectively invest in the right accounts? What's the best account for your specific goals? How do your investments connect to your overall retirement plan? Check out the podcast on YouTube here! Check out our ma…
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Real Personal Finance
1
165 - How to Invest in Stocks For Beginners
28:58
28:58
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Scott and James discuss how to invest in stocks for beginners. Listener Question Sometimes I can tend to pull the trigger on things before doing enough due diligence. If I make a stock purchase and later am not sure it was the best decision, how long should I wait before selling the shares and moving on from that company.I'm not talking about buyin…
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Ready For Retirement
1
What's the Best Way to Teach Kids About Money and Investing?
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In this episode of Ready for Retirement, James discusses the best way to teach kids about money and investing. Questions Answered: How can you effectively teach kids about money and investing? What's the best strategy to have kids start to understand about money? Check out the podcast on YouTube here! Check out our main channel on YouTube here! LET…
Scott and James discuss how to understand your cash flow. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 4:16 - Income 6:26 - Fundamentals 10:46 - Spending Isn't Negative 14:27 - Rules of Thumb 16:57 - Debt & Real Estate 21:12 - Tax Rates 2…
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Ready For Retirement
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What Return Should You Expect for a 60/40 Portfolio Going Forward?
18:29
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In this episode of Ready for Retirement, James discusses what return you should expect from a 60/40 portfolio going forward. Questions Answered: Is the 60/40 portfolio the best portfolio in retirement? What's the best strategy to utilize when it comes to determining the best allocation for my retirement goals? How does this impact your overall reti…
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Real Personal Finance
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163 - Pros & Cons of Using Dividend Investing to Create Passive Income
22:43
22:43
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Scott and James discuss the pros and cons of using dividend investing to create passive income. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: What is your stance on dividend investing, with the goal of reaching a point where one can…
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Ready For Retirement
1
How do State Taxes Impact Roth v. Traditional Considerations?
14:55
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In this episode of Ready for Retirement, James discusses how state taxes impact Roth v. Traditional Contributions. Questions Answered: How should you determine what tax strategy is best based on your state? What's the best strategy to utilize when it comes to determining when to prioritize Roth contributions? How does this impact your overall retir…
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Real Personal Finance
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162 - How To Understand Your Balance Sheet
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28:19
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Scott and James discuss how to understand your balance sheet. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 6:17 - Having Multiple Accounts For Organization 10:08 - Goal-Based Investing Accounts 15:33 - Debt 20:25 - Net Worth Allocation 24…
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Ready For Retirement
1
How to Use 72t Distributions to Access Retirement Funds Early and Penalty-Free
23:50
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In this episode of Ready for Retirement, James discusses Rule 72t distributions to access retirement funds early and penalty-free. Questions Answered: How can you withdraw funds from retirement accounts early? What's the best strategy to execute the Rule 72t distributions? How does utilizing the Rule 72t impact the overall financial strategy? Check…
Scott and James discuss how to invest during a bear market. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:27 - What To Do As Investors Now 6:52 - Prices Are Reflected Today 11:03 - Averages Are In Your Favor 14:27 - Recovery Statistics 1…
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Ready For Retirement
1
How to Use Individual Stocks for Better Tax-Planning
24:06
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In this episode of Ready for Retirement, James discusses how to use individual stocks for better tax-planning. Questions Answered: How can you use individual stocks for strategic tax planning? What's the best strategy to utilize with individual stocks? How does this impact your retirement strategy? Check out the podcast on YouTube here! Check out o…
Scott and James discuss how to retire early. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:05 - FIRE Movement 5:05 - Non-Traditional Retirement 7:25 - Social Security 10:09 - Additional Considerations 11:25 - Military Considerations 13:4…
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Ready For Retirement
1
How to Most Effectively Pull Funds Out of Your College Savings Account
23:21
23:21
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In this episode of Ready for Retirement, James discusses how to most effectively pull funds out of your college savings account. Questions Answered: What are the tax implications of pulling from college savings accounts? What are the best ways to utilize this account for your retirement goals? What strategies exist when it comes to funding college?…
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Real Personal Finance
1
159 - How Much Company Stock Ownership Is Too Much?
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19:17
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Scott and James discuss how much company stock ownership is too much. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: I'm a manager at a blue chip company and they offer up to 20% of their stock in your 401K. Right now I have 8% of my…
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Ready For Retirement
1
How to Turn Real Estate Equity Into Income in Retirement?
22:08
22:08
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In this episode of Ready for Retirement, James discusses how to turn real estate equity into income in retirement. Questions Answered: How can I best use my real estate equity to create income in retirement? What are passive investments to create a secure retirement? How can you ensure you reach your retirement goals? Check out the podcast on YouTu…
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Real Personal Finance
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158 - Where To Invest Cash Earmarked for a Down Payment?
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Scott and James discuss where to invest cash earmarked for a down payment. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: My wife and I have money (in cash, ~ $150k) earmarked for a down payment on a home. There is no real urgency to…
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Ready For Retirement
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Is Rental Real Estate a Good Idea in Retirement?
26:20
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In this episode of Ready for Retirement, James discusses if rental real estate is a good idea in retirement. Questions Answered: Is it worth investing in rental real estate for retirement income? What are passive investments to create a secure retirement? How can you ensure you reach your retirement goals? Check out the podcast on YouTube here! Che…
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Real Personal Finance
1
157 - How to Best Mitigate Risk in Your Investment Strategy
20:52
20:52
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Scott and James discuss how to best mitigate risk in your investment strategy. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: I'm really enjoying your podcast and generally agree with your advice. I'm 37 and a personal investor who i…
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Ready For Retirement
1
4 Steps to an Early Retirement with Ari Taublieb
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28:45
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In this episode of Ready for Retirement, James discusses with guest, Ari Taublieb, the four most important steps when considering an early retirement (non-traditional retirement). Ari is a financial planner at Root Financial Partners. Ari Taublieb is the host of the Early Retirement podcast. Ari also has a YouTube channel focusing on early retireme…
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Real Personal Finance
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156 - Benefits of Health Savings Accounts and How to Maximize Their Impact
19:31
19:31
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Scott and James discuss the benefits of Health Savings Accounts and how to maximize their impact. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: My question is around HSA's. Am I really missing out by not investing in this? I underst…
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Ready For Retirement
1
How to Implement (And Do Better Than) the 4% Rule
20:18
20:18
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In this episode of Ready for Retirement, James discusses how to implement (and do better than) the 4% rule. Questions Answered: How can you maximize your withdrawal strategy? What should you consider in terms of withdrawing funds from your investments? How can you ensure you reach your retirement goals? We’re on YouTube! Check us out here for more …
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Real Personal Finance
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155 - Should I Use an Adjustable Rate Mortgage (ARM)
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14:33
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Scott and James discuss if you should use an adjustable rate mortgage (ARM)? Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:10 - Mortgage Rate Options 4:17 - Mortgage Risk 6:38 - Payment Differences 10:27 - Additional Options 11:23 - Don'…
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Ready For Retirement
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How to Invest Different Portfolio "Buckets"
22:07
22:07
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In this episode of Ready for Retirement, James discusses how to invest in different portfolio "buckets". Questions Answered: How can you best be invested for your goals? What should you consider in terms of withdrawing funds from your investments? How can you ensure you reach your retirement goals? We’re on YouTube! Check us out here for more conte…
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Real Personal Finance
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154 - How Can I Reduce Taxes on Side Hustle Income?
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16:44
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Scott and James discuss how you can reduce taxes on side hustle income. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:10 - Listener Question 3:25 - Taxes 5:50 - Retirement Contributions 7:43 - Retirement Contribution Maximums 9:14 - Solo…
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Ready For Retirement
1
How to Become a Better Investor with Chad Hufford
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In this episode of Ready for Retirement, James discusses how to be a better investor with guest, Chad Hufford, owner of Veritas Wealth Management in Anchorage, Alaska. Questions Answered: How can you become a better investor? What should you to become a better investor and set yourself up to reach your retirement goals? How can you ensure you reach…
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Real Personal Finance
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153 - What Planning Points Should You Consider During a Recession?
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Scott and James discuss what planning points to consider during a recession. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:10 - What Can We Control 3:25 - Cash Flow 8:12 - Unemployment 10:13 - How To Withdraw in Retirement 14:42 - Roth C…
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Ready For Retirement
1
How Should Withdrawal Rates Change if You Don't Have Any Legacy Goals?
22:12
22:12
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In this episode of Ready for Retirement, James discusses how withdrawal rates should change if you don't have any legacy goals. Questions Answered: How can you plan most effectively for your legacy goals (or lack thereof)? What should you consider in terms of withdrawing funds and your goals? How can you ensure you reach your retirement goals? We’r…
Scott and James discuss how to invest in down markets. Listener Question With the markets increased volatiltiy in the past few weeks, we wanted to address how you can be investing amidst current market conditions. Thank you for submitting your questions and please continue to do so and we'll look to answer them in a future episode. Planning Points …
In this episode of Ready for Retirement, James discusses how to get financially organized. Questions Answered: How can you be most organized financially? What should you consider when planning for financial organization? How can you ensure you don't outlive your money? We’re on YouTube! Check us out here for more content to help you create a secure…
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Real Personal Finance
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151 - How to Account For Matching Contributions in Retirement Saving Rates
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12:46
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Scott and James discuss how to account for matching contributions in retirement savings rates. Listener Question Wanted to find what both of yours opinions are on savings rate as it relates to employer match. I am currently saving 25% of my gross income between maxing out 401k, IRA and the rest to a brokerage, I bonds and ESPP. My employer matches …
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Ready For Retirement
1
How to Enjoy Life Today While Also Preparing for the Future
21:48
21:48
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In this episode of Ready for Retirement, James discusses how to enjoy life today while also preparing for the future. Questions Answered: What can you do today to prepare for the future? What should you consider when planning your retirement? How can you ensure you don't outlive your money? We’re on YouTube! Check us out here for more content to he…
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Real Personal Finance
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150 - How to Give More Effectively Using Donor Advised Funds
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Scott and James discuss how to give more effectively using Donor-Advised Funds. Listener Question Hello! I love the show. I think I’ve had a chance listened to over 100 episodes. Have y’all considered an episode on giving? I recently started use using a donor advised fund, giving away some highly appreciated assets instead of cash. Are there any mo…
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Ready For Retirement
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The Complete Guide to Health Savings Accounts (HSA)
27:32
27:32
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In this episode of Ready for Retirement, James discusses the complete guide to Health Savings Accounts (HSA). Questions Answered: How can you use an HSA most effectively? What should you consider when planning your healthcare expenses? How can you ensure you don't outlive your money? We’re on YouTube! Check us out here for more content to help you …
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Real Personal Finance
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149 - How to Find a Financial Professional That's Right For You
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21:53
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Scott and James discuss how to find a financial professional that's right for you. Listener Question My husband and I are both high earners. He owns his own business and I am employed full time in the health tech sector. We are in a great position where we are debt free, own our home and a rental property and have close to a million in investments.…
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Ready For Retirement
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The 3 Most Important Mindset Shifts to Make Going Into Retirement
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23:17
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In this episode of Ready for Retirement, James discusses the 3 most important mindset shifts to make going into retirement. Questions Answered: What are the mindset shifts to make going into retirement? What should you consider when planning your retirement expenses? How can you ensure you optimize your money? We’re on YouTube! Check us out here fo…
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Real Personal Finance
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148 - Annuity vs Lump Sum - Which Pension Option Should I Select?
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Scott and James discuss which pension option they should select, annuity or lump sum? Listener Question Hey guys! Thank you so much for the amazing podcast! I have a pension question. I am a teacher, and I am eligible to retire and begin taking my pension payments in July 2023. I have heard some people say to take the lump sum distribution, and cre…
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Ready For Retirement
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How Likely is it That You'll Run Out of Money in Retirement?
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In this episode of Ready for Retirement, James discusses how likely it is that you'll run out of money in retirement? Questions Answered: Is it likely that you will outlive your money in retirement? What should you consider when planning your retirement expenses? How can you ensure you don't outlive your money? We’re on YouTube! Check us out here f…
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Real Personal Finance
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147 - How to Best Track Investment Returns
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15:30
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Scott and James discuss how to best track investment returns. Listener Question Does it make sense to track my investments in my 401K and Roth IRA purely off of the projected rate of return that people suggest (typically between 7-10%) or should I track my investments based on the inflation-adjusted return rate? I am asking this as a 23 year old, w…
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Ready For Retirement
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Investing for Longevity When There's a Spousal Age Gap
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26:32
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In this episode of Ready for Retirement, James discusses how to invest for longevity when there's a spousal age gap. Questions Answered: What would change if one spouse predeceased the other? How would your income and portfolio be impacted? What are the considerations when planning around one spouse predeceasing the other? We’re on YouTube! Check u…
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Real Personal Finance
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146 - How to Forecast and Save for College Expenses
24:39
24:39
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Scott and James discuss how to forecast and save for college. Listener Question My wife and I are 33 and have two children, ages 1 and 3. We'd like to save enough to pay for their college costs but we're not sure how to forecast what the cost of their college will actually be. College costs can vary widely, and have historically grown at different …
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Ready For Retirement
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How Do Roth Conversions Impact Inheritance/Legacy?
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29:21
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In this episode of Ready for Retirement, James discusses how Roth Conversions impact inheritance, specifically legacy planning. Questions Answered: How can Roth Conversions be best implemented for legacy planning? What are the important strategies to be aware of when implementing Roth Conversions? How can Roth Conversions impact planning for inheri…
