Wealth & Wisdom with Michael Loftus

The Kentucky Derby is coming up on May 4th this year. As always, it’ll be a spectacle of speed, strategy, and stunning hats. In this episode, we’ll explore how several intricacies of horse racing intertwine with the journey to crafting a winning retirement plan.
We explore the importance of training for the big day, assembling your financial team, and protecting your investments like a prized thoroughbred. Michael discusses the significance of hedging against market volatility and long-term care costs, applying lessons from the betting world to risk and reward in your portfolio, and ensuring your financial plan fits you like a custom-tailored Derby hat.
As we approach the financial triple crown of early, mid, and late retirement stages, Michael shares insights on adapting your investment strategy to each phase. Plus, we bring the annual financial wellness checkup into focus, emphasizing budget adjustments in the face of rising inflation, building financial immunity, and the necessity of a proactive planning approach.
In the mailbag segment, Michael tackles real-time questions from listeners like Jacob in Chicago, contemplating the switch to annuities, and Wendy in North Carolina, questioning the diversification of her rolled-over 401(k). And for Tony in Philly, Michael lays out the roadmap to determine how much to save for an early retirement dream.
Whether you're donning your fanciest hat or simply aiming for a secure financial future, this episode is your ticket to the winner's circle. So, saddle up and join us on this enlightening ride towards wealth and wisdom.
Grab your saddle and your fancy hat and join us at the starting gate as we race toward retirement.
Here’s some of what we discuss in this episode:

• Why it’s important to understand that everyone’s circumstance is different.
• You need to screen your portfolio for winners and possibly trim out the losers.
• Why diversification, even with mutual funds, is important.

LEARN MORE:

Recent educational videos on YouTube: https://bit.ly/3CMiRbt
Schedule a meeting with Michael: https://lwsde.com/schedule-a-meeting/
Visit Michael's website for more resources: https://lwsde.com/
Sign up for Newsletter: https://tinyurl.com/2p979jjz

Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you're eligible is the best decision for your financial future? In this episode, we'll be debunking common myths about Social Security and answering the questions you've been curious about.

Plus, we’ll tackle rebalancing a portfolio. Most people will tell you to buy and hold but that’s not a philosophy we always follow and we’ll explain why. It’s important to take profits and re-evaluate your investments as needed.

We’ll also close out this episode by taking a few of your questions on inflation, investment options, and REITs.

Here’s some of what we’ll cover on this show:

• Quote of the month on groceries and perfume. (0:48)
• When and how to rebalance a portfolio. (1:23)
• Top Social Security myths of 2023. (3:44)
• Mailbag question on protecting money during high inflation. (8:00)
• Investment options outside of the 401(k) (9:12)
• Mailbag question about cashing out a REIT. (10:29)

LEARN MORE:

Recent educational videos on YouTube: https://bit.ly/3CMiRbt
Schedule a meeting with Michael: https://lwsde.com/schedule-a-meeting/
Visit Michael's website for more resources: https://lwsde.com/
Sign up for Newsletter: https://tinyurl.com/2p979jjz

There are many things that we know we’ll have to deal with in retirement, we just don’t know how to predict when or to what degree. How do you construct a plan that deals with the unpredictability of these different factors?

On this show, we’ll address the biggest uncertainties in retirement and talk about how we help someone build a plan to prepare for whatever life (and the economy) throws our way. You’ll never have access to a crystal ball so having access to a solid financial plan is the next best thing to help protect your future.
Here’s some of what you’ll learn in this episode:

· Interest rate changes and what’s on the horizon. (1:23)

· How does planning change as longevity increases? (2:39)

· What you can do to prepare for future healthcare needs. (5:11)

· Dealing with the rise in inflation. (6:02)

· How to save more once you’ve maxed out your 401(k) contributions. (7:32)

LEARN MORE:

Recent educational videos on YouTube: https://bit.ly/3CMiRbt
Schedule a meeting with Michael: https://lwsde.com/schedule-a-meeting/
Visit Michael's website for more resources: https://lwsde.com/
Sign up for Newsletter: https://tinyurl.com/2p979jjz

Being a good advisor isn’t about winning a popularity contest or just saying the same things that everyone else in the industry says. It’s about giving the best advice that you can for each individual situation.

On today’s show, we’re going to peel back the curtain to discuss some areas where a good financial advisor’s opinions might go against the grain with mainstream ideas in the industry.
Here’s some of what you’ll learn in this episode:

· What is the appropriate amount of risk for a retiree and pre-retiree? (1:16)

· How much insurance should you keep? (3:32)

· Should you pay off your home? (4:44)

· Choosing between mutual funds and ETFs. (5:55)

LEARN MORE:

Recent educational videos on YouTube: https://bit.ly/3CMiRbt
Schedule a meeting with Michael: https://lwsde.com/schedule-a-meeting/
Visit Michael's website for more resources: https://lwsde.com/
Sign up for Newsletter: https://tinyurl.com/2p979jjz

Today’s episode will be quick but packed with financial information as we hop through a few different topics.

First, we’ll talk about the main emotions that drive our decision-making with money and how we can be more aware of our actions. Then we’ll answer some of the common questions that people being forced into an early retirement usually ask us. And then we’ll compare football to finance to celebrate the perfect start to the season for the Eagles.

There’s plenty to dive into so let’s get started. If you have any questions about the things we discussed on this episode, please let us know.

Here’s some of what you’ll learn in this episode:

· The main emotions we struggle with when it comes to money and investing. (1:18)

· Answering the common questions people ask when being forced into an early retirement (4:47)

· What football teaches us about financial planning. (7:54)

· Mailbag questions from listeners. (11:21)

· Getting to know Michael (14:38)

LEARN MORE:

Recent educational videos on YouTube: https://bit.ly/3CMiRbt
Schedule a meeting with Michael: https://lwsde.com/schedule-a-meeting/
Visit Michael's website for more resources: https://lwsde.com/
Sign up for Newsletter: https://tinyurl.com/2p979jjz