Financial Symmetry: Balancing Today with Retirement

The behavioral and emotional side of financial planning takes precedence when planning for our future.

I see this play out frequently in the form of anchoring to a perceived value we’ve grown accustomed to, based on prior experience.

This “value”; however, can unfortunately lead to decisions that damage the success of our financial plan.

• [1:40] Anchoring to a dollar amount is what we’re used to
• [5:56] Are you stuck on your stock prices?
• [10:25] Your retirement number needs to have a basis
• [15:20] What are you sacrificing to reach your number?
• [16:13] Don’t limit your tax thinking
• [20:25] Gain confidence with a financial plan

• BOOK - Wild Problems by Russ Roberts

• https://www.financialsymmetry.com/podcast-archive/
• Connect on Twitter @csmithraleigh @TeamFSINC
• Follow Financial Symmetry on Facebook

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Summer is here! That means it’s time to brush off the bookshelf and get reading. We have a few book ideas to enhance your reading list. If you are looking to improve your financial life or even just enjoy a light beach-read you won’t want to miss this list.

• [0:55] Never Split the Difference
• [5:20] The Gap and the Gain
• [9:55] Simple Wealth, Inevitable Wealth
• [12:52] Hello, Molly

• BOOK - Never Split the Difference by Chris Voss
• BOOK - The Gap and the Gain by Benjamin Hardy
• BOOK - Simple Wealth, Inevitable Wealth by Nick Murray
• BOOK - Hello, Molly by Molly Shannon
• BOOK - Sudden Money by Susan Bradley
• BOOK - Mindset by Carol Dweck
• BOOK - What Got You Here Won’t Get You There by Marshall Goldsmith

• https://www.financialsymmetry.com/podcast-archive/
• Connect on Twitter @csmithraleigh @TeamFSINC
• Follow Financial Symmetry on Facebook

Apple Podcasts Stitcher Google Play

Are you the type of person who loves surprises? One surprise you probably don’t enjoy is having to pay more taxes than you anticipated.

Unfortunately, taxes are a necessary part of life. The best thing you can do to ensure that you aren’t caught off guard at the end of the tax year is to prepare throughout the year.

On this episode of Financial Symmetry, Allison Berger and I review 9 ways to prevent taxes from catching you off guard. Don’t let the next tax season take you by surprise. Listen in to hear how you can improve your tax situation so that you can rest easy come tax time.

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As you plan to live your ideal retirement, you may want to share your good fortune with others who are less fortunate.

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Giving is incentivized through the tax code, so being charitably inclined can also help to reduce your tax liability.

In retirement, there are many ways to map out your charitable giving to take full advantage of the tax benefits. This is why, we discuss ways to capitalize on those opportunities while meeting your charitable goals.

Listen in to learn how to enhance your today and enrich your tomorrow while giving intentionally.

• [0:49] Common charitable goals
• [2:37] Time talent and treasure
• [5:27] Mikey and Minnie’s case study
• [11:36] Donald and Daisy’s case study
• [19:13] Be intentional about your giving
• [21:10] Today’s progress principle

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Today we’re diving in to a specific path that many retirees consider as they move away from the “corporate” world and enter their second act – which is starting a business.

With increased life expectancy, cost of living increases and a desire for continued fulfillment, many retirees are excited to begin a new experiment in an area they are passionate about.

Some surveys show the proportion of people starting businesses at ages 55 to 65 has increased in recent years and, at one point, even surpassed the typical entrepreneur age group of 25- to 35-year-olds.

So today we’re speaking to those currently operating sole proprietorships and single-member LLCs OR those considering starting their own business. We’re going to shine the light on the S Corp business type and provide some details on why this could be an opportunity to explore.

• [0:55] How to know when you have enough
• [2:09] Starting a business in retirement
• [6:02] Why it's important to understand what an S-corp is
• [10:10] An example
• [14:54] The downside of the S-corp

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