You don’t want to be worrying about money during retirement. How can budgeting today help your financial plan last into retirement? Will your money be safe against potential challenges leading up to retirement?
Tim Whisler dives into the idea of a “License To Spend” during one’s golden years, with a focus on the criticality of retirees grasping their incoming funds, outgoings, and the various risks that could arise. Tim shares his wisdom on the financial hurdles that often trip up professional sportspeople and those who strike it lucky with lottery wins, pointing out the significance of managing finances with a firm hand.
Tim discusses:
Where does the concept of “license to spend” fit into retirement planning
How budgeting breaks down income and spending to create a clear idea of financial standing
What role does guaranteed income play in mitigating retirement risks
Why is proactive financial management important for a secure retirement
Investment advisory and financial planning services are offered through Foundations Investment Advisors, LLC, an SEC Registered Investment Advisor. Insurance, Consulting, and Education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth and Simplicity Solutions.
Retirement comes for everyone eventually. How you prepare for it will dictate your life after work. What are pre-retirees focusing on today?
In this episode, Tim Whisler shares how his company provides a fiduciary service for clients and his views on financial planning. Tim dives into his views on financial services, from income to the financial house and the questions he asks clients that no one else does.
Tim discusses:
The difference between you dictating your lifestyle and your portfolio dictating your lifestyle
How advisors worked to mitigate loss early in the pandemic and how these plans have adapted to the market volatility
The building blocks of the portfolio house
How his fiduciary responsibility guides his financial advice for clients
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, a SEC Registered Investment Advisor. Sub-advisory services are provided by Simplicity Solutions, LLC, a SEC Registered Investment Advisor. Insurance, Consulting, and Education services offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth and Simplicity Solutions.
Preparing to become a caregiver means more than physically caring for a loved one; preparing for the future is just as important as preparing for the present.
In this episode, Tim Whisler is joined by Cathy Sikorski, a Family Caregiver, Elder Law Attorney, author and keynote speaker, on being a caregiver and the steps to take before you become one. Cathay shares how to start the conversation, who to talk to about preparing financially and the paperwork needed to let you make decisions.
Cathy discusses:
How she started as a caregiver and why she expanded her practice to help others
The difference between executor and power of attorney
The role of advisors in establishing a plan if a spouse becomes ill
Cathy Sikorski has been a significant caregiver for the last 20 years. In addition to that, she has been a practicing attorney in her own practice, dealing largely in Elder Law, with over 12 years of education in issues dealing with Medicare, Medicaid and Social Security. She began her legal career in general practice in a small town where she grew up and was known to a large contingent of the population through her family. Many of her clients were older adults, which lent her practice to dealing with elder issues.
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, a SEC Registered Investment Advisor. Sub-advisory services are provided by Simplicity Solutions, LLC, a SEC Registered Investment Advisor. Insurance, Consulting, and Education services offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth and Simplicity Solutions.
During the first six months of 2022, the S&P 500 experienced the worst decrease since 1970. With many mentally prepared for a recession or a depression, it is essential to understand what is currently happening to prepare for the future.
In this episode, Tim Whisler dives into market volatility, the current economic standing and what the future holds in planning financially. He reveals the impact of the war between Russia and Ukraine on the US market, the impact of market volatility during different phases of life and what the future holds for investment planners.
Tim discusses:
How the dip in S&P 500 impacted different types of investments
The difference between a recession and a depression
Why a retirement specialist is necessary during the distribution phase of life
How percentages should be calculated within the market to reach equilibrium
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, a SEC Registered Investment Advisor. Sub-advisory services are provided by Simplicity Solutions, LLC, a SEC Registered Investment Advisor. Insurance, Consulting, and Education services offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth and Simplicity Solutions.
Before hiring a financial advisor and handing over control of years worth of savings, questions should be asked by both involved parties.
In this episode, Tim Whisler dives into how he helps potential clients avoid unpleasant surprises before they sign on the dotted line. He shares some questions people should ask potential advisors to protect their funds and create confidence in their retirement plan.
Tim discusses:
What fiduciary responsibilities an advisor has to their clients
Why financial advisors should be open about their compensation with their clients
Why it’s important for advisors to tell their clients where their money is going
How to mitigate and address risks when developing a retirement income plan
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, a SEC Registered Investment Advisor. Sub-advisory services are provided by Simplicity Solutions, LLC, a SEC Registered Investment Advisor. Insurance, Consulting, and Education services offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth and Simplicity Solutions.
Traditionally portfolios balance aggressive investments with bonds after retirement. The reality has both investment options on one side of the investment see-saw.
In this episode, Tim Whisler dives into financial planning when faced with market bumps. He reveals market trends throughout history, discussing the importance of looking beyond the numbers when planning your portfolio and the struggle to balance the see-saw of investment planning.
Tim discusses:
How longevity impacts the risks of financial planning
The illusion of diversification
Why retirement investment focuses on conservative investments over yields
Planning for increased health costs during retirement
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, a SEC Registered Investment Advisor. Sub-advisory services are provided by Simplicity Solutions, LLC, a SEC Registered Investment Advisor. Insurance, Consulting, and Education services offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth and Simplicity Solutions.
What about learning how to avoid the down while earning on the up?
In this episode, Tim Whisler is joined by Laurence Black, founder and index advisor at The Index Standard. Laurence shares his expertise in index strategies and investment planning, revealing the importance of planning for the future by decoding current statistics.
Laurence Black is the founder of The Index Standard and an index advisor to Professor Robert J Shiller. The Index Standard is an information portal providing ratings, forecasts and guides unmasking the mystique behind indices and making finance more approachable. Earlier in his career Laurence instigated the Shiller Barclays Index family with Barclays and Professor Shiller. He has appeared interviews with the Financial Times, Bloomberg and Structured Retail Products and is a frequent contributor on index thought leader pieces.
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Simplicity Solutions, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth and Simplicity Solutions.
In any industry, it’s not just about what you know. It’s about who you know.
In this episode, Tim Whisler is joined by Jeremy Houser, vice president and senior advisor development consultant at InsurMark and host of the Advisor Mentorship Podcast. Jeremy shares his knowledge as an outside mentorship source, revealing the benefits of leveraging industry experts when evolving your business.
Jeremy discusses:
What retirees and soon to be retirees should look for from their advisors
How financial advisors help clients understand investment alternatives
Some of the most common considerations for potential clients
The importance of adaptation to the current market
As a trusted consultant and partner to the advisors, Jeremy Houser serves in retirement planning, he helps provide practice management through our process to help unlock an advisor’s full potential. Through his proven successful process, he works to help advisors professionalize all phases of their business and focus on growth that is achievable year after year.
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.
The U.S. Federal Reserve continues to remain uncertain in the early months of 2022.
Because of this, for those in or entering retirement, planning for the future is more important than ever.
In this episode, Tim Whisler dives into retirement planning preparations for 2022, focusing on retirees and how inflation, market volatility, and taxes impact those entering retirement. He also reveals how supply and demand increase the cost of products and services, the impact of uncertainty on the financial market, and his advice for clients on what to budget for during retirement.
Tim discusses:
The dangers of market volatility on portfolios
How inflation impacts the amount required for retirement
Why including a budget for fun is necessary for retirement
The impact of taxes on retirement planning in 2022
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.
Medicare can seem like a foreign language to those who don’t look into it on a regular basis.
In this episode, Tim Whisler discusses what you need to know about Medicare when planning for retirement. He reveals the different parts of Medicare plans, the role of each and the coverage they provide. Tim discusses the importance of understanding what your expenses are and how much items such as your prescriptions will cost after Medicare coverage.
Tim discusses:
What Medicare is and what it covers
The different pieces of your Medicare plan
The importance of understanding your costs when choosing a plan
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.
You may hear about RMDs from your retirement planner. But how do required minimum distributions impact your personal retirement plan?
In this episode, Tim Whisler shares his knowledge of RMDs, discussing how pensions evolved to retirement accounts with RMDs and the differences between the withdrawal rules of different accounts. He reveals the importance of including the RMDs within your retirement plan and how they can impact your beneficiaries after you are gone.
Tim discusses:
What RMDs are
How different types of retirement accounts are impacted by RMDs
The benefits of gifting your RMD
How your beneficiaries could move up a tax bracket from their inheritance
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.
Death and taxes are the two most certain events in a person’s life. How can you continue the implementation of your financial plan after death?
In this episode, Tim Whisler discusses the difficult topic of death and how to plan financially for this certainty in life. Tim shares two stories about death and the financial planning involved. He discusses how having a plan can not only ease the transition but also increase the legacy you leave behind for future generations.
Tim discusses:
The importance of having a conversation about death with your loved ones and your advisor
What could happen to your estate without a proper plan
How simple planning can ease the transition of your estate after you’re gone
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.
There is always a risk when entering the stock market. What will that risk be in 20, 30, 40 years when you retire?
In this episode, Tim Whisler takes a deep dive into sequence of return risk, detailing what it is and how he helps clients prepare for the future without a crystal ball. Tim discusses how he turns potential losses into zeroes and the benefits of such transformations within your retirement plan.
Tim discusses:
The two main phases of life in your financial plan
The uncertainty of the future when planning for retirement
The benefits of zeroes over losses within your investments
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.
When you have a water leak, you call a plumber. When you need to create or manage a retirement plan, you call a retirement income specialist.
In this episode, Tim Whisler discusses the role that a retirement expert plays within retirement planning. Tim shares the difficulties of self-managing a retirement plan and the different elements of a holistic financial plan.
Tim discusses:
Why you should hire a retirement expert
The difficulties of taking financial advice from friends and family
The importance of understanding the different stages of life and how your spending will change
The role of liaising gains and relieving pains in your retirement plan
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.
Have you ever felt you were living paycheck to paycheck, or felt stressed when talking to a financial advisor about your financial situation?
Did you know that these reactions have a scientific explanation?
In this episode, Tim Whisler is joined by Maggie Klokkenga, CPA, CFP®, financial coach at Make A Money MindShift, LLC. Maggie shares her journey from financial planning to financial coaching and the fascinating psychology behind our understanding and relationship with money.
Maggie discusses:
The importance of understanding your relationship with money
The psychology behind monetary struggles
How money scripts subconsciously influence everyone
Maggie Klokkenga is a CERTIFIED FINANCIAL PLANNER™ professional and CPA and has worked in the financial industry for almost 25 years. In that time, she’s worked with couples to help them make their money work for them. She’s studying for the Accredited Financial Counselor (AFC) designation because she knows how emotional talking about money can be. Maggie seeks out and continues to receive training that best helps clients use their money to reach their financial goals.
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.
When you hear the word legacy, what comes to mind? What do you want your legacy to be? The legacy you leave behind can begin with a simple donation.
In this episode, Tim Whisler is joined by Phil Newton, founder and partner of Perennial Partners. Phil shares how charitable gifting can be beneficial for your retirement planning and your financial legacy.
Phil and Tim discuss:
The benefit of donating your IRA distribution to charity
From 1993 to 2014, Phil Newton has worked in administration at four Peoria and Bloomington IL charities, including 12 years as Executive Director at South Side Mission. In his time there, he helped grow the organization’s budget 250% during recessionary times, without any government funding. Also in that time, he helped the organization eliminate debt and amass a year-end cash on hand equal to one fifth of its annual budget with the use of wills, trusts & life insurance giving. In his time at South Side Mission, Phil also completed two Five Year Strategic Plans and developed a strong Board of Directors/staff/volunteers partnership in fundraising. During his time there in 2008, South Side Mission was named one of the Top 10 Grassroots Ministries in America (Samaritan Award) by World Magazine and the Acton Institute of Grand Rapids, MI.
He has enjoyed success in all aspects of fundraising; from planned giving and major gifts to grantsmanship, annual giving, and even charity business development. He is adept at “thinking outside the box” to help organizations develop and maximize revenue. His marketing and public relations background has served well the organizations for whom he has worked as each of them have raised their profile and developed vibrant niches under his direction.
Phil is a graduate of Auburn University with a Master of Arts in Communication with a Public Relations emphasis. While at Auburn, he had a paper accepted for the annual SCA convention. His Bachelor’s degree is also in Communication, from Eastern Illinois University, where he was a part of their collegiate speech team, earning national qualifier status in 1992.
Beginning Perennial Partners in 2014, Phil has worked with more than 50 nonprofits and small businesses. Budget sizes range from $3,000 annual all the way up to $24 million.
Phil lives in Peoria with his wife, and five children. In 2012, he authored Homeschoolers, Hippies & Heirloom Tomatoes which is available on Amazon. In his spare time, he loves supporting his children’s activities, the great outdoors, and playing guitar.
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.
You don’t have to be a professional financial advisor to understand the basics of planning.
In part one of this two-part series, Tim Whisler dives into five of the most common mistakes 401(k) and IRA owners make. Tim helps you discover the taxes you are paying but shouldn’t be, and shares ways you could save even more.
You will learn:
5 of the most common errors 401(k) and IRA owners make
The potential advantages and drawbacks of withdrawing IRA inheritance
How the SECURE Act impacted retirement income
The taxes you can avoid paying for different planning mistakes
And more!
Listen now as Tim Whisler reveals the taxes you could avoid when planning your retirement!
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.
