Retire With Integrity Podcast With Brian Bowen

We all want to know that we have enough for retirement when the time comes. Brian answers a question from the mailbag from someone who previously thought she couldn’t afford retirement but has since realized her pension would provide more than she thought. Is it enough to retire though? How do you figure that out? Here are the listener questions Brian answers today: Mailbag: Should I pay off a home with my inheritance? Which one? (0:12) Mailbag: Do I have enough to retire with my pension? (11:31) Get Additional Information: https://financialplanningva.com/podcast/

You may have heard of a donor-advised fund, but is that really what you should have as a part of your financial plan? Brian talks about another option you might want to know about: charitable trusts. He shares more about the different types of charitable trusts and why you might want to consider them. Then, he plays “fact or fiction” about these financial ideas and decisions. Here’s what you’ll learn about on today’s show:  The benefits of charitable trusts vs. donor-advised funds. (0:12) Fact or fiction: the media can be your biggest enemy. (10:28) Fact or fiction: Emotions are rarely your friend when making financial decisions. (11:15) Fact or fiction: The market always moves in cycles. (13:03) Fact or fiction: You probably aren’t as risk-tolerant as you think. (14:34) Get Additional Information: https://financialplanningva.com/podcast/

Some of the greatest coaches inspire their teams to do well. Today we look at quotes from famous coaches and apply the same wisdom to our financial lives. Then, we discuss the seven deadly sins and how to avoid them when saving, spending, and strategizing with your money. Here’s what you’ll learn on today’s show: “Nobody who ever gave his best regretted it.” (0:13) “Your problems never cease, they just change. (5:51) “Adversity is an opportunity for heroism.” (7:08) What are the seven deadly sins of retirement? (9:20) The number one problem with men when investing. (9:37) Keeping up with the Joneses relates to this sin. (16:47) Anger can cause your judgment to be clouded. (18:33) How do you weed out greed? (19:27) Get Additional Information: https://financialplanningva.com/podcast/

“Making a list, checking it twice, going to find out who’s naughty or nice…” Which of these financial advisor scenarios would put an advisor on the naughty list? Brian shares what he thinks about these situations and what is expected of a trustworthy advisor. Which one of these things are naughty and which ones are nice? Listen to find out! Limiting client meetings to once a year. (0:24) Having an asset minimum for prospective clients. (4:20) Making changes without a discussion with the client. (7:41) Refusing to wire money without a verbal confirmation. (10:09) Providing only positive testimonials. (13:43)   Get Additional Information: https://financialplanningva.com/podcast/

Mutual funds have been a popular way to invest, but are they what’s best for your financial plan? Brian talks about what happens with a mutual fund, who has them, and what might be a better fit instead. According to Brian, mutual funds are kind of like driving a 1987 Astrovan. Is that the kind of vehicle you want to travel in?    Here’s what you’ll learn about mutual funds on the show: Mutual funds are popular, but do people really understand them? (0:13) If you want a tax-efficient portfolio, what strategy should you use? (4:00) What can you do about taxes? (6:01) What is the complimentary blueprint plan? (7:12) Mailbag: What’s my first step to selling a $5M business? (9:41) Home sales fell in September. What’s happening in the housing market? (16:15) Get Additional Information: https://financialplanningva.com/podcast/

Before we close out 2022, have you considered whether or not a Roth conversion is the right move for you? Brian talks a lot about Roth conversions on the show, and today gives examples of how it can pay off in the long-run. Then we talk about the reasons why people hold onto too much cash and how to invest it better. Here’s what you’ll learn from today’s podcast: Now might be the time to do a Roth conversion if you meet some of these criteria. (0:12) What mistakes do people make with Roth conversions? (7:25) When and why should you have cash on hand? (10:52) What’s the best way to invest more efficiently? (15:13) How can donor-advised funds work? (20:11) Get Additional Information: https://financialplanningva.com/podcast/

As we prepare for Thanksgiving, a lot of us are giving thanks for what we have. Many are also considering making charitable gifts to different charities before the year ends. Brian talks about the value of charitable giving and also explains the rules behind the gift tax. But first, he answers two questions from the mailbag. Here’s what we talk about on today’s show: What am I most likely to mess up with my retirement without an advisor? (0:15) What should I know about a DST? (4:18) What are the charitable gift tax rules? (9:21) Why does Brian promote charitable giving? (19:33) Get Additional Information: https://financialplanningva.com/podcast/

Financial planning is not the same for everybody, so it’s important to have a plan. Living below your means, saving, and investing can get you far. Just like Mr. Miyagi in the movie Karate Kid teaches discipline, you need to have discipline with your financial plan. Then, we talk about why some people don’t want to retire.  Here’s what we talk about on today’s show: What can we learn from Mr. Miyagi in Karate Kid? (0:26) You don’t need to know everything to succeed. (4:25) Success doesn’t happen overnight. (5:38) Why would someone not want to retire? (9:51) What if you don’t have enough money to retire? (13:59) Get Additional Information: https://financialplanningva.com/podcast/

What kind of questions and concerns do people have with the stock market right now? A lot is happening with a volatile market, so how does Brian respond? What kind of financial decisions should you make with your investments? Brian shares what strategies have worked for some of his clients. Here are the scenarios we discuss on today’s show: Mailbag: What are my options to reduce taxes when selling an apartment building? (0:12) What concerns do people have about the stock market? (10:54) Does it make sense to put your money in cash? (16:03) Get Additional Information: https://financialplanningva.com/podcast/

Now that we are in the heart of football season, what can we learn from the game? Coach Brian is here to guide you through what you need to know when it comes to your financial plan. We compare different football analogies to retirement planning to help you understand where you’re headed and find out if you’re making the right decisions. But first, we answer some questions from the mailbag. Here are the scenarios we discuss on today’s show: Mailbag: Is now a good time to invest while stock prices are low? (0:12) When should I see a financial advisor? (2:40) What is the financial red zone? (9:19) What is the hurry-up offense? (15:17) What about the victory formation? (16:51) Get Additional Information: https://financialplanningva.com/podcast/

No one likes to talk about a budget, but is it wise to start one before going on a fixed income in retirement? Brian talks about what a budget or a spending plan can look like and why it matters. From investing choices to small business decisions, Brian answers three questions on today’s show. Here are the scenarios we discuss on today’s show: Do I need to start budgeting before retirement? (0:12) Are ETFs always better than mutual funds? (2:38) Should I still sell my business with huge taxes in store? (6:39) Get Additional Information: https://financialplanningva.com/podcast/

Is this common or rare? We go through five scenarios that may happen throughout your financial life. Brian shares how often he sees these situations occur among his clients and how he helps people navigate through them. You may be surprised by some of his answers! Here are the scenarios we discuss on today’s show: How often is someone ready to retire tomorrow? (0:23) Do people ask for advice and then ignore it? (4:32) Are tears often shed by clients in the office? (6:23) Do clients unexpectedly come into large sums of money? (9:24) Is it true that you have to save at least one million dollars? (14:27) Get Additional Information: https://financialplanningva.com/podcast/

What kind of retirement catastrophe can happen if you don’t plan? Right now, inflation is hitting hard, but that can often get overlooked. What other kind of hidden costs could you face? Getting sound advice on the whole picture could save you in the long-run. Later in the show, Brian answers three questions from the mailbag. Today's show schedule: Here’s how retirement catastrophe can occur with poor planning. (0:12) How to plan when no one knows exactly what the future holds. (4:03) Mailbag: How important is it to do a 401(k) rollover after leaving a job? (7:35) Mailbag: Do I need a prenup? Should we combine our investments in marriage? (10:15) Mailbag: What are the rules with an inherited IRA? (13:48)   Get Additional Information: https://financialplanningva.com/podcast/

What can we learn about retirement from Jerry Seinfeld? We will review some Seinfeld quotes and consider how they apply to your finances. Let’s also talk about your most significant financial assets. Are you leveraging these assets or overlooking them? Today's show schedule: “Sometimes the road less traveled is less traveled for a reason.” (0:24) “It’s amazing that the amount of news that happens fits the newspaper.” (3:42) “That’s the true spirit of Christmas, people being helped by people other than me.” (6:41) What assets have you been taking for granted? (10:23) Your house is your biggest asset, but how does that impact you in retirement? (14:17) Be sure to factor in your Social Security. (17:00)   Get Additional Information: https://financialplanningva.com/podcast/

Many retirees overlook long-term care, something that Medicare does not cover. How can someone plan for long-term care? The cost of long-term care insurance may seem too expensive, but consider the cost of that care, later on, should you need it. Today's show schedule: Do you know the cost of long-term care here in Virginia? (0:21) What kind of investment vehicles could be used instead? (8:00) When to check on the problems you might have with your retirement plan. (11:09) How do you know if you’re doing enough to save for retirement? (17:48)   Get Additional Information: https://financialplanningva.com/podcast/

When you work with an advisor, you may have a lot of questions you need answered. Brian takes to the mailbag today to answer questions from listeners who want help sorting through financial decisions from charitable giving to real estate. Then, for a bit of fun, we talk through a few famous lyrics to see how they might apply to your financial life.   Today's show schedule: After the standard deduction changed, is there still a good reason to give to charities …besides having a big heart? (0:12) Do the lyrics “mo’ money, mo’ problems” ring true? (10:41) When you have a pension, should you “take the money and run”? (15:11) Find out if owning (and managing) apartments are a worthwhile investment. (17:13)   Get Additional Information: https://financialplanningva.com/podcast/

What are two important things that many of us have done or are doing? Raising kids and investing. We talk about what these two things have in common and the work it requires over time to become successful. The key is often having discipline. Whether in parenting, eating, or investing, discipline isn’t always easy but it is worth it.    Today's show schedule: Consider the parallels between raising kids and investing. (0:12) Eating a well-balanced diet is like diversifying. Are you eating right? (2:33) You’ve got to have patience, both now and in the future. (5:16) Uncomfortable conversations will come up…are you ready for them? (7:57)   Get Additional Information: https://financialplanningva.com/podcast/

Why is tax planning so important? What does it entail? Brian talks all about this crucial part of your financial plan.   Today's show schedule: 0:12 - Focus on reducing your taxes. 2:55 - What happens when you give up too much in taxes? 5:24 - Tax planning is so important.   Get Additional Information: https://financialplanningva.com/podcast/

What are the decisions you need to make now for your retirement, even if we’re in a recession? Brian talks about how to stress-test your plan and what to keep in mind.   Today's show schedule: 0:12 - Are we in a recession? 4:31 - What is happening with inflation? 7:07 - How do you retire with confidence?    Get Additional Information: https://financialplanningva.com/podcast/

When retirement planning, inflation can leave you with far less than you thought. Brian shares what tools we can use to plan accordingly.   Today's show schedule: 0:12 - Inflation is the silent killer of retirement planning. How do you make your money last? 6:45 - What’s keeping the market up?   Get Additional Information: https://financialplanningva.com/podcast/