Posts by Jon Magoch
Seven Strategies to Protect Your Assets from Health Care Costs
Health care is expensive. Add in the cost of potential long-term care and retirement health care is even more expensive. Today Jon and Karyn talk about the best ways to protect your income from those high costs by using portions of your assets in areas such as insurance or health savings accounts to provide funding if the worst case scenario does occur.
Read MoreFive Financial Fundamentals for Your Retirement
These fundamentals are specifically designed to help prevent your portfolio from the kind of market volatility that occurred this past February – and which we did not see much of last year. Today Karyn goes through all five of them to help you make sure your plan and nest egg are protected.
Read MorePicking The Right Retirement Date
Do you have an idea of when you want to retire? Whether you have that or are still in the process, Jon and Karyn talk about the factors you need to take into account when deciding when to pull the trigger and making sure that the decision you make is the right one for you.
Read MoreLike the Idea of Retiring Sooner?
Who doesn’t, right? Even though more Americans are retiring later, more people would prefer to call it quits sooner. But that’s easier said than done – especially if you don’t have a rock solid plan to do it. Today Jon discusses the things you can’t overlook if you plan to retire early. Including trying to save more, allowing for health care until Medicare eligibility kicks in, and seven other factors you need to have locked down if retiring sooner rather than later.
Read MoreTaking the Road Less Traveled
“Two roads diverged in a wood, and I—
I took the one less traveled by,
And that has made all the difference.”
–Robert Frost, excerpt from the Road Not Taken
In a recent article from Financial Advisor Magazine that identified the regrets many people have for not taking more risks in life. “Among the top regrets were: not following their dreams, not taking risks with their careers, not taking risks with their lives in general, and not being gutsy enough in the choices they made.”[i]
What was reassuring about these findings is that many people vowed to fix these regrets by taking more risks with the time they have left. There is an optimism there that is unique to our time. People are living longer, way longer than we were even a few decades ago and with that comes opportunities to evolve and edit things about our lives that don’t make sense or don’t satisfy us regardless of our age or stage in life.
Read MoreHow your behavior can affect your investment decisions
As human beings, we can often react to events or experiences in an instinctual rather than logical or practical way. It is in our very nature and can, in many cases, not be avoided. That being said, having awareness of our natural behaviors towards experiences can help protect us from the consequences of acting on our emotions. Behavioral Finance emerged I the 1970’s with research from Nobel Laureate Daniel Kahneman and it is a “relatively new field that seeks to combine behavioral and cognitive psychological theory with conventional economic theory in order to propose explanations as to why people might make irrational financial decisions.”[i] In this article we identify some common behavioral biases that many investors possess in the effort to bring awareness of how your perceptions can affect your investment choices.
Read MoreFour Pathways to Retire with Confidence
People get excited about the idea of retirement – but they may also question whether their nest egg can handle it. Jon and Karyn discuss the questions people have such as whether investment decisions are the best ones, or how to pay for healthcare and cover taxes. Making sure your money is positioned properly will help make sure your retirement will be everything you want it to be.
Read MoreManeuvers For Heading Into Retirement
People are looking for ways to make their lives better – and if they are quick and easy, that’s even better. On this week’s episode of Retirement Evolved Jon and Karyn discuss some of the easy ways you can position your money so that you are optimally prepared when your retirement arrives.
Read MoreEight Pillars to A Sound Retirement Strategy
They include assets, income, protection and more. They are the features of building a retirement plan in a similar way that a house is built – with a strong foundation. Jon and Karyn talk about all of these pillars that go into your retirement foundation and the best ways they can work for you and your plan.
Read MoreGet More Bang For Your Annuity Banking Buck
Annuities can provide guaranteed income for retirement, one of the few instruments which can do so. But are they worth it, given some of the costs like commissions, or fees, or other penalties which surround having one? Jon and Karyn discuss this issue and provide tips on how you can determine if an annuity is right for your situation.
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