Saving With Silverman

Social Security is a complex system that impacts nearly everyone’s financial future. Despite its importance, there’s a lot that the average person doesn’t know or understand about it. Today we’re going to explore some of these lesser-known facts so that you can make the most informed decisions for your financial future.   Here’s some of what we discuss in today’s show: What are work credits, and how do they impact Social Security benefits? How do spousal benefits work, and can non-working spouses receive benefits? Former spouses who were married for at least 10 years may be eligible to claim benefits based on their ex-spouse's earnings. What is the earnings test, and how can it affect early Social Security withdrawal? Your Social Security benefits can be garnished by the federal government.   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832 520.618.5323

We’re back with another mailbag episode this week! We have an exciting lineup of topics to discuss today. Colleen asks how much money she should have in her emergency fund. Bonnie asks Mark to explain the basics of estate planning to ensure that her assets are passed on with minimal tax implications. Listen in as we tackle these questions more in today’s episode!   Here’s are the questions Mark answers in today’s show: How much money should I have in my emergency fund and how does this differ from other savings? I want to ensure my assets are passed on to my children with minimal tax implications. Can you explain the basics of estate planning that I should make sure I have covered? I owe about $50,000 In my house, and about $45,000 on a rental property that I've had for several years. I have enough cash to pay off one of these but not both. Which one should I pay off?   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832 520.618

A recent study analyzed Google Trends to find out what keywords are being searched the most and it revealed six financial topics that get queried the most. From income taxes to insurance, there’s a pretty good chance that you’ve searched some of these as well.   On today’s show, we’ll talk about: What problems could you run into if you’re relying on Google to do your planning? Insurance has so many types of policies so you have to be specific when looking. Searching for mortgages returns a lot of paid content. Problems you could run into when Googling just retirement accounts. What people are looking for when they search estate planning.   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832 520.618.5323

Today we’ll talk about why a lot of people don’t think about the need for long-term care despite the fact that it could be incredibly expensive. Plus, we’ll discuss some of the different options for protecting yourself against the possibility of long-term care needs in retirement.   On today’s show, we’ll talk about: Where long-term care ranks on the list of priorities in retirement planning. Why most people don’t take long-term care seriously until it affects them. How realistic is it to self-insure for LTC? Is long-term care insurance a good policy to have? Why life insurance is a good option for a lot of people for helping with LTC   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832

Today we're sharing some qualities of money that you need to know as you plan for retirement. For example, do you know what three qualities of money should be represented in nearly every investment plan? Or how about this – what’s the best single investment that achieves all three qualities at once? Stay tuned as we explain what these qualities are and why you need to know this crucial information as you prepare for for financial future.    On today’s show, we’ll share: What three qualities of money should you find in your investment plan? Is there a single investment that achieves all three qualities at once? Examples of different investments that achieve different qualities.   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323  

Socrates said the unexamined life is not worth living. When it comes to financial planning, it’s important to examine yourself by pondering some of these important questions. Today we’ll get to the heart of the issues.   On today’s show, we’ll discuss: What financial issues keep you up at night? What do you really desire the most financially speaking? How much of a risk taker are you when it comes to money?   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323

No matter what generation you’re from, people of all ages have financial struggles – some more than others. On today’s show, we’ll dive into three generations – Millennials, Generation X, and Baby Boomers to look at the different ways they handle money and what challenges they often face.   On today’s show, we’ll share: What challenges do Millennials face? (1:40) What challenges does Generation X face? (3:10) What challenges do Baby Boomers face? (5:00)   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323    

It’s time for another mailbag episode! This episode could be very helpful if you’re looking to improve your financial situation and prepare for retirement. We will discuss what to do if your life insurance policy starts charging premiums again, what to invest in that won’t be so volatile, and when to take Social Security. Listen in as we tackle some current questions from our listeners, and you’ll likely gain some invaluable insights to help you make informed financial decisions.   On today’s show, we’ll share: Why is my life insurance policy starting premiums again? (1:39) What can I invest in that won’t be so volatile? (3:35) Should I take Social Security or withdraw from my retirement accounts? (5:28)   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323  

Not everyone needs a financial advisor right away, but some people desperately do. Unfortunately, people can have a hard time understanding which category they fall into. We’ve met with many different clients over the years. During those discussions, we’ve been able to tell who urgently needs our help, who simply needs a little guidance, and who thinks they have it all figured out. Listen to today’s show and find out what financial help you might need at different life stages, as Mark shares some first-hand insights on the benefits of financial planning.    On today’s show, we’ll share: Someone who thinks they don’t need an advisor, but they really do. (2:15) Someone who thinks they need an advisor, but they really don’t. (3:35) Someone who needs financial planning help but not necessarily investing help. (5:26)   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323

In the complex world of financial planning, there are countless pitfalls one could fall into as you approach retirement. In this episode, we’ll share some common mistakes we see people make all the time. Avoiding these crucial missteps can have a significant impact on the success of your retirement plan. We'll delve into these key issues and learn how to navigate them effectively when it's your turn to plan for retirement.    Here’s what we’ll discuss on today’s show: Investing at age 59 the same way that you invested at 39 (1:56) Starting Social Security without a plan or strategy (3:03) Focusing on tax preparation, but not tax planning (4:33)   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323  

Is there really such a thing as having predictable, guaranteed income in retirement? Maybe the question is really “guaranteed by whom?” In this episode, we’ll discuss some of the retirement income sources that people might view as predictable but really aren’t certain.   On today’s show, we’ll share: Is predictable, guaranteed income in retirement really a thing? (1:35) What are some examples of predictable income? (2:19) Why you need a diversified portfolio. (3:09)   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323    

Today’s topic may be a difficult one to consider, but it is a very important one at the same time. If you were to lose your spouse, what steps should you take to manage your finances? In today’s episode, we are going to share some real-life examples and cover the most common questions and challenges we’ve seen clients face after losing a loved one.   On today’s show, we’ll share: What are the main questions people ask after their spouse dies? (1:16) What are the immediate challenges people face after their spouse dies? (2:47) We share a story about a widowed spouse who was left in a difficult position. (4:50)   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com admin@silverman-associates.com Phone: 520.512.8832 520.618.5323  

Yogi Berra was a sports icon and one of the most quotable people to ever live. And when we look at some of his quotes through the right prism, they can teach us some lessons about financial planning. In today’s episode, we’ll have a little fun with some of these quotes to see what financial wisdom we can pull from them.   On today’s show, we’ll share: I never said most of the things that I said. (2:05) A nickel ain’t worth a dime anymore. (3:39) When you come to a fork in the road, take it. (5:37)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com  

When it comes to financial planning, it’s OK to admit that you don’t know the answer to something. The real danger is thinking you know the answer to something when you actually have it all wrong.    Today we’re discussing some of the things people think they know, but in reality they really don’t. Even with all the information that’s available to us everyday, there are still plenty of aspects of finances and retirement planning that can be confusing and hard to process. So let’s try to sort some of that out on this episode and help level up your financial knowledge.   On today’s show, we’ll share: How much income you’ll need in retirement. (2:12) When to jump in or out of the market. (4:14) Whether to have life insurance and how much. (5:26)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com

Last year was a rough year in the market, but it’s hard to attribute it to any one particular trend. It was more a confluence of various factors. On today’s show, we’ll review some of the absolute worst days, weeks and years in market history, what caused them and what we learned.   On today’s show, we’ll share: What happened on Black Tuesday? (2:03) How did the Dot Com crash affect us? (2:41) What happened when the markets reopened on Sept. 17, 2001? (3:30)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com

It’s time for another mailbag episode, and we have some great topics to discuss. This episode could really help if you’re looking to improve your financial situation and prepare for retirement. We will discuss whether to take expensive trips, how to prevent your children from having hurt feelings over your will and when to pay extra on your mortgage. Listen to hear some of the questions our listeners have, and maybe you’ll gain some valuable knowledge from our answers!   On today’s show, we’ll share: Should I take this expensive trip? (2:12) What’s the best way to keep my kids from having hurt feelings over my will? (4:01) Should I pay extra toward my mortgage? (5:32)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com

When you think about the word “generosity,” what comes to mind? Maybe money or time spent helping others. We’ve all known generous people in our lives – and those who didn’t have this trait – but generosity can take many forms.   On today’s show, we’ll share some examples of generosity and how that can work with your overall financial plan.   On today’s show, we’ll share: What does it mean to be generous? (1:36) An example of a naturally generous person. (3:05) Do some people give away too much money? (3:44)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com

Almost everyone likes the idea of a healthy bank account. But can there be too much of a good thing?   We’ll explain some of the common reasons people want cash on hand and why it might be counterproductive to have too much in your checking or savings account.   On today’s show, we’ll share: What are some common needs for cash? (0:54) How much cash should I have? (2:17) Why do some people keep so much cash? (2:52)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com

The idea of a Roth conversion is intriguing to a lot of people. For some, it can be a great strategy to enact, but others might not know what it is. Today we’ll share what a Roth conversion is, why it’s worth considering and some common mistakes we see people make with them.   On today’s show, we’ll share: What is a Roth conversion? (2:17) Why is a conversion helpful for people who make a lot of money? (5:11) What common mistakes do people make with Roth conversions? (6:13)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com

Today we’re chatting about the characteristics of financial advisors. Everyone has different personalities, but what should you look for in an advisor? How much should likeability and listening skills play into the person you choose? How much emphasis do you place on things like trust, areas of expertise, and the ability to solve problems? You want to find someone who resonates with you and can help you build a strong financial future. On today’s show, we’ll share: How do you develop trust with a financial advisor? (0:54) How much should likeability and rapport play into the relationship? (2:19) What kind of credentials should you look for when choosing an advisor? (3:49) For more, visit us online: https://silverman-associates.com/