Spotting Problematic Personalities of Rogue Advisors

08/03/23 • 17 min

Candid Conversations: Retirement Talk with Ryan Cravitz

Finding a trustworthy and competent financial advisor is essential for securing your financial future. After all, they play a vital role in helping you make informed decisions about your money, investments, and long-term financial goals.

We’ll find out in today’s episode as we explore how to identify “The Ghost”, “The Jargon Juggler”, “The Chameleon”, and several more. And what should you do if you encounter them?
Here's some of what we’ll discuss in this episode:

What kind of communication should you expect from an advisor?
Some of the things that an advisor might do up front that might raise a red flag.
Why jargon and a think financial plan doesn’t necessarily indicate a knowledgeable advisor.

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If you have any questions, you can contact us online here: https://cravitzfinancial.com/
Email: [email protected]
Call: 714-462-9155
Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

What kind of communication should you expect from an advisor?
Some of the things that an advisor might do up front that might raise a red flag.
Why jargon and a think financial plan doesn’t necessarily indicate a knowledgeable advisor.

Previous Episode

Counterintuitive Advice: Why You Should NOT Invest In A 401(k)

Don’t get us wrong. In many cases, your 401(k) can be your best investment vehicle, offering numerous benefits and tax advantages and many times a 100% return on some of your contributions (also known as an employer match). However, it's important to recognize that it might not always be the optimal choice for everyone. Join us in this thought-provoking episode as we dissect some reasons why someone should NOT invest in a 401(k).
Here's some of what we’ll discuss in this episode:

Building up your emergency fund before investing in your 401k. (2:45)
If your employer doesn’t match contributions. (5:17)
If you’re worried about future tax increases. (8:28)
The benefits of moving your money out of old 401ks if you no longer work for the company. (10:02)
If you have concerns about control, flexibility, and limited investment options. (13:04)

Next Episode

Is Investing in a Roth a Bad Idea?

We came across an article recently that would get anyone’s attention when they’re trying to save for retirement. The headline said this person lost $400k in a Roth 401(k) and warned others about the risk as well. While this headline could very easily be characterized as clickbait, we wanted to explore it a little further and see how much truth was in these numbers.
Here's some of what we’ll discuss in this episode:

Ryan’s favorite show growing up and which Olympic sport would he have the best chance at winning a medal.
An example of someone in their mid-50s who might benefit from a traditional 401k versus someone who might benefit more from a Roth.
Why we start with income planning to determine how much we need and what taxes might look like in retirement.
What are the best ways to financially help a child with their new grandchild?
Should you park your money in cash if you know a lot of life changes are coming up?

Read the article here: https://finance.yahoo.com/news/lost-400k-retirement-savings-roth-174006044.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAIkWwMYSM-fB6t_MX8lExd4gm_ZfdGmNKd-SR1Li8ShRy48dw1PsMw5s01MCGixWIonmjy5Lcp5sNbJ2uQscXkEZtO2c3IOdRhKNuiepnd10XTXtHK1jh2mJwdhTwY42rtygybXhWczN7Bt86GnV3U378E4KLteJIZp0XmwYoUSk