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Financial Symmetry: Balancing Today with Retirement

When considering retirement, do you wonder what financial opportunities you may be missing? Busy lives take over and years pass without taking advantage. In this retirement podcast, the Financial Symmetry advisors unveil financial opportunities, to help you balance enjoying today so you are ready to retire later. By day, they are fiduciary fee-only financial advisors who answer questions about tax savings, investment decisions, and how to save more. If you’ve been putting off your financial to-do list or are just not sure what you’ve been missing, subscribe to the show and learn more at www.financialsymmetry.com. Financial Symmetry is a Raleigh Financial Advisor. Proudly serving clients in the Triangle of North Carolina for over 20 years.
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Financial Symmetry: Balancing Today with Retirement
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Now displaying: 2024
Jun 3, 2024

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.

Outline of This Episode

  • [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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📬 Get our Retire On Purpose Guide here

📰 See the full show notes here

🌐 Explore the Retirement Podcast Network here

May 20, 2024

Now that you have made it through the retirement danger zone, you have made it to the Arrivement phase of retirement. You may be wondering, what are my next steps?

This season can be full of opportunities and connection with those you care about. At this point in your life journey, you may face some difficult decisions around relocating or how best to spend or give the wealth you've worked hard to accumulate.

Listen in to hear about the financial and tax moves that we see most commonly used during the middle years of your retirement.

📬 Sign up for the Advisor Corner Newsletter here and receive our Retire On Purpose Guide

📰 See the full show notes here

🌐 Explore the Retirement Podcast Network here

May 6, 2024

Have you thought about retiring abroad?

Oftentimes when we think of retirement, we think about sunny beaches with crystalline water shimmering in the sunshine. Could this or some other idyllic vision be your future? 

The realities of retiring abroad can be exciting, but at the same time overwhelming. Complex financial strategies need to be considered before grabbing your passport and setting off for the unknown. 

In this episode, we discuss seven crucial financial considerations that you’ll need to keep in mind if you are interested in retiring abroad.

Outline of This Episode

  • [0:36] Overcoming frugality in retirement
  • [2:15] More people are retiring abroad
  • [3:44] Put together a blueprint of what life will look like for you
  • [5:00] Dealing with finances
  • [6:53] Dealing with taxes
  • [8:40] Dealing with investments
  • [10:32] Dealing with real estate
  • [12:24] Dealing with healthcare
  • [13:41] Dealing with estate issues

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📬 Get our Retire On Purpose Guide here

📰 See the full show notes here

🌐 Explore the Retirement Podcast Network here

Apr 23, 2024

If you are retiring soon, you've most likely wondered if your asset allocation is too risky.

Some have called the period just before and after retirement the Retirement danger zone as it's a time where understanding how you should be invested matters for your long-term financial success.

After years of great returns in tech and large cap US stocks, many retirees could have bigger risks present in their allocations than they realize.

In today's episode, you'll learn why sequence of return risk has been called the retirement danger zone and how to prepare for it within the context of your retirement plan rather than by planning by generalized rules of thumb.

Resources & People Mentioned

Apr 8, 2024

So many of us will be hoping for no tax surprises when preparing our tax returns this year. 

This is why we want to provide you with a list of common tax surprises to watch for.

After working with hundreds of clients to prepare their tax returns, we’re sharing the latest tax surprises we see that could be helpful to know when completing your tax return this year.

Outline of This Episode

  • [0:42] The Slott Report
  • [2:39] Inheritance surprises
  • [6:51] Credit card rewards
  • [8:10] Interest income increases
  • [10:54] Income earned in different states
  • [12:32] 1099Ks
  • [14:14] Underwithholding from your W4
  • [15:56] Forgotten statements
  • [17:32] Double taxation on the Backdoor Roth
  • [19:49] Underpayment penalty
  • [21:14] The K1 for small business owners

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📬 Get our Retire On Purpose Guide here

📰 See the full show notes here

🌐 Explore the Retirement Podcast Network here

 

Mar 26, 2024

Retirement can hit us with numerous curveballs. One of those could happen right out of the gate–being forced with an early retirement. 

We all know that layoffs are part of the corporate landscape. While they are commonplace, when you are faced with one later in your career it can cause you to reevaluate your financial situation. 

In this episode, we discuss your options if you are laid off and how they fit in with your financial plan, your tax plan, and your 401K.

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📬 Get our Retire On Purpose Guide here

📰 See the full show notes here

🌐 Explore the Retirement Podcast Network here

 

 

Mar 12, 2024

While most of our listeners are in or on the cusp of retirement, many have loved ones who are earlier in their careers. Often we get questions on how our listeners and clients can help their younger family members make better financial decisions. 

As we celebrate International Women's Day with this episode, you’ll meet our newest CFP, Niamh Douglas. Niamh and Allison discuss some tools and strategies to help young people who are just starting out get off on the right financial foot.

Resources & People Mentioned

 

Feb 26, 2024

Many who approach retirement view it as the ultimate goal, but you could have 30+ years to experience the retirement you've worked to build. 

While much of retirement planning is focused on the numbers, people often fail to intentionally plan out how they'll spend their time.

In this episode, we explore some common retirement pitfalls and then ten stepping stones to help us overcome challenges you might encounter.

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📬 Sign up for the Advisor Corner Newsletter here and receive our Pre-Retirement Checklist. 

🎯 Article - Uncertainty is Underrated

📰 See the full show notes here

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Feb 12, 2024

Many investors have been tempted to invest more, if not all, of their portfolios in the S&P 500 given the incredible run it’s had over the last decade.

But today we are talking through five reasons why you should consider not making a concentrated investment only in the S&P 500. 

Don't let recency bias rule your decision-making on the road to your ideal retirement.

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📬 Sign up for the Advisor Corner Newsletter here and receive our Pre-Retirement Checklist. 

🎯 Article - A Few Thoughts on Spending Money

📰 See the full show notes here

🌐 Explore the Retirement Podcast Network here

Jan 29, 2024

One of the biggest financial disasters that people can experience in retirement is divorce. On this episode of Financial Symmetry, Grace Kvantas chats with licensed marriage and family therapist, Lesli Doares.

Lesli shares warning signs to look out for, misconceptions about keeping finances separate, and why couples should seek marriage counseling in retirement. Your marriage affects every aspect of your life. Listen in to learn how you can improve it. 

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📬 Sign up for the Advisor Corner Newsletter here and receive our Pre-Retirement Checklist. 

🎯 Article - Many Happy Returns by David Booth

📰 See the full show notes here

🌐 Explore the Retirement Podcast Network here

 

Jan 15, 2024

If you have rollover IRA accounts and want to make a backdoor Roth IRA contribution, this episode is for you.

There are several steps involved to handle this strategy in the right way including understanding how you roll the IRA accounts to your 401k.

Today we walk through five considerations you should think through before you implement a strategy to complete your Backdoor Roth contributions.

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📬 Tips each month to help you Enhance Your Today and Enrich Your Tomorrow. Download our Pre-Retirement Checklist Ebook today

🎯 Subscribe to not miss future episodes here

📰 See the full show notes here

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