Welcome to A/B Conversations:

We Will Help You CFP® Your Way Out Of It, a podcast where you get into the minds of a couple Certified Financial Planners™ on how we think about everyday financial planning questions and what should really matter most to you.

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In this podcast episode we explore the concept of the Final Financial Plan. The Final Financial Plan is essentially a roadmap for those that are left to help settle the estate, such as the executor or trustee. It lays out where any important information is and how to access financial accounts. This document serves as a guide for organizing any wishes that typically wouldn't be put in a will. It is not a legal document but really just adds instruction and clarity to the estate settlement process. Listen to Ben and Adam give all the details of what is included in a Final Financial Plan and why it is important for estate planning in this podcast episode.
What’s the best way to go about saving money? The pecking order of savings, like many things in financial planning, is dependent on an individual's situation. During our financial planning process we will have to make certain assumptions, especially around taxes and compensation later in life, but we focus on doing the most efficient thing that we can, while still offering some flexibility. Diversification of savings for accessibility and taxes in the future is key. We have a process to go through this with you. Listen to us discuss our process for defining a pecking order of savings for someone in this podcast episode.
You can weather the storms in the market when they happen by having all of your fundamentals in place. This includes “bucketing” your assets and staying the course in your financial plan and blocking out all the noise that occurs while investing. Ben and Adam talk about different ways to feel confident with your investments by recapping 2021’s market environment and staying the course as we enter into 2022 not knowing what the market will do.
Listen to Ben and Stevyn discuss how the health and wellness industry is closely tied to the finance industry and why health should become part of your retirement portfolio. You'll also have the opportunity to hear Stevyn's personal journey, as well as, gain insights on small things you can do now to improve your "healthspan" so you can fully enjoy retirement in the future.
Recently, Edward Jones put out the 4 Pillars of Retirement study, which was comprised of health, purpose, family and finance. Recently, Edward Jones put out the 4 Pillars of Retirement study, which was comprised of health, purpose, family, and finance. In this podcast episode, Adam and Ben discuss the findings, some of which were surprising. Throughout the survey results it was abundantly clear that the first three pillars held more weight than the wealth or finance side of retirement. In fact, did you know that 96% of retirees said that health is more important than wealth in retirement? Listen to us discuss the full results and how we believe the human side of finances plays an important role in financial planning and our process.
No one likes to lose money, but once in a while it can actually be a good thing! If you own a non-retirement account or basically any investment outside of your retirement assets, you can deduct a loss on your tax return. There is a limit and some caveats in order to deduct your losses. To find out all that it entails, check out this podcast episode!
Have you been considering a big purchase but you’re concerned you can’t afford it since you’re retired? Is making a large purchase in retirement a smart idea? What is the most efficient way to buy a large purchase in retirement? We believe it comes down to two things: can you afford it and what is the most efficient way to go about it. Listen to this episode to hear the logistics of how we would use financial planning to answer those questions.
Asset accumulators have a long runway until retirement. Starting the financial planning process early builds a solid financial foundation to ensure success in the future. Those starting out have competing goals, such as saving for retirement, buying a larger house for a growing family, paying down debt, or saving for their kids’ education. With all these financial aspirations, which one should be prioritized? That’s where financial planning comes in!
Open enrollment comes once a year and is a great time for you to review your work benefits and update them to better fit your current financial life. Life changes. What you may have originally picked for your health benefits might not be the best fit anymore for you and your family. Making sure that your work benefits line up with all the other pieces of your financial life is important so it fits into the grand scheme of your financial plan. In this podcast episode, we give education around what you should focus on during open enrollment time.