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, Adam and Ben talk about the different ways to give money to family beyond just writing a check. We discuss how our financial planning process helps determine if you can afford to gift now, the best way to go about it, and any tax laws that you should consider. If you wish to pass along your wealth to a loved one while living rather than leaving behind an inheritance or legacy, check out this episode!
While there isn't a silver bullet that can shield all your money from taxes, this podcast episode focuses on proactive and reactive strategies to help defer taxes if you have excess income. We focus specifically on tax liability while exploring different investment vehicles to help you allocate your assets appropriately, depending on your financial goals. And, we discuss factors that may drive your taxable income higher.
The key to any successful financial plan is making sure you use reasonable assumptions. An age gap between spouses can have an impact on irrevocable decisions such as when to retire, the best time to elect Social Security, pension decisions, and estate planning - just to name a few! In this podcast episode, Adam and Ben discuss how an age disparity in couples can impact your financial life and why it's important to make conservative assumptions if you are in this situation.
We are often asked the question "should I manage my own investments or is that something I should let a professional handle?" While there is no black and white answer, the first step is to decide whether or not you want to take on that responsibility. Next, develop a process to follow when making decisions around your investments. Your investment plan should be the guide to making these important decisions and help answer questions such as, "when is the right time to rebalance the portfolio? What should the process be when I need to withdraw money? "In this podcast episode, Adam and Ben talk about the pros and cons of managing your own investments and the checklist you should have if you choose to take on the responsibility.
This special podcast episode for A/B Conversations discusses the potential impact the Russian invasion of Ukraine may have on investments and financial planning. We're far from experts on the crisis and the outcome is still unknown at this point in time, but we do want to try to be experts on client communications and financial planning. We can draw some parallels by using historical data from prior wars and other conflicts to predict how the market will react. We look at investing through a long-term lens and we know the market is more forward looking than we tend to be as humans. Ben and Adam discuss historical trends and inputs that drive the market in short-term bursts.
Have you ever thought about retiring at the same time as your spouse? Part of our job is figuring out if retiring at the same time is financially possible, but it’s also making sure that both partners are ready to commit to the next phase of life. There’s a lot of things to consider other than the financials. Are you emotionally and mentally ready to make that transition to retirement? And, often times couples have not even seriously discussed retirement timelines with eachother. Our goal is to ask questions so we may understand our clients' unique situations as we move through our retirement planning process. Listen to Ben and Adam discuss the variables and potential trade offs that go into making this huge decision together.
In our financial planning process, we assess any products you may own, such as life insurance or annuities. Next, we provide education on the implications of being contracted to that product. Our goal is to review if there are better options available to you, ultimately to decide if you should be doing something different. If you are unable to move away from the product, we discuss ways in which it may fit into your financial plan to help align your financial life in a way that helps you reach your broader financial goals. Tune in to listen to Ben and Adam go through all the details of what to do with your old products!
Whether you’re about to get married or you’re coming from previous relationship and entering a new one, there’s a lot of financial questions that ensue. Is it best to keep your financial lives separate, intertwined, or somewhere in the middle? There isn’t an easy answer and it depends on you feel, but there is some financial planning that should occur no matter what the result is! Take a listen to Adam and Ben give a few ideas of what you should be considering when bringing two financial lives together.
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.