Welcome back to another episode of Our 2 Cents! This week we're discussing the 33rd Annual Retirement Confidence Survey to give you a better understanding of how your peers are feeling about various aspects of retirement. Then we're sharing some tips for planning upcoming summer vacations.

1. The 2023 Retirement Confidence Survey:
   • The huge gap between when workers expect to retire and when retirees say they actually did.
   • How much has America's confidence in a comfortable retirement dropped over the years?
   • What do people feel are the most valuable improvements to retirement savings plans?
   • How confident are people in knowing how much to withdraw from their savings in retirement?
   • The ways you can plan in order to have realistic expectations about retirement.
2. Summer Travel Planning:
   • 15 top U.S. vacation destinations for 2023.
   • The steps you should take to appropriately budget for and plan your summer vacation.
3. Getting to Know Steve and Gabriel:
   • Where's the funniest place you've fallen asleep?
   • What's the best part of your day?

During this week's episode of Our 2 Cents, we dive into the complex world of financial decision-making during some of life's most pivotal moments. From exciting times to challenging ones, we share tips to help you make informed decisions during these different ages and stages of life.

1. Financial Decisions Through the Ages & Stages:
   • Marriage and Remarriage
     • Combining finances or keeping them separate
     • New living arrangements and setting up new budgets
   • Divorce
     • Turning a joint plan into new separate ones
     • Dividing assets and liabilities 
   • Job Changes
     • Plan changes due to unexpected layoffs and forced early retirement
     • Assessing new job offers or increased income or benefits
   • Birth or Adoption
     • Budget changes for new expenses
     • Needs for life insurance, wills, trusts, guardianship plans
   • Winning the Lottery
     • Sudden windfalls of money require new ways to manage assets
     • Where to put an influx of cash
   • Retirement
     • The time you've been planning for all this time is finally here
     • How to ensure you're putting that plan to work efficiently
   • Severe Medical Issue or Disability
     • What an unexpected diagnosis can do to a plan
     • Important updates to documents and policies
   • Death of a Spouse
     • Reevaluating plans, goals and budgets
     • What to do if the one who passes was the one who handled the finances

Another bank failure doesn't mean a failure of the banking system. But we are talking about the very real implications that it does have. Plus, we're sharing a listener-suggested article about how heart health should be top-of-mind as you plan for retirement.

1. Gabriel's Quote Picks of the Month:
   • "It's good to have money and the things that money can buy, but it's also good to check up once in a while and make sure that you haven't lost the things that money can't buy." - George Lorimer
   • "When a man retires and time is no longer a matter of urgent importance, his colleagues generally present him with a watch, for some reason." - RC Sherriff
2. More Unrest in the Banking Industry:
   • At the end of last year, First Republic was the nation's 14th-largest bank. As of May 1, the bank had failed.
   • How did the collapse of Silicon Valley Bank lead to a 97% plunge in First Republic's stock?
   • With some larger banks attempting to save First Republic by infusing billions of dollars into it, how did it still fail?
   • Biggest takeaway of the current uncertainty in the banking sector: diversification of deposits.
3. A Heart-Healthy Retirement:
   • Although a highly-prevalent cause of death in the U.S., why is heart disease under-discussed in the media?
   • What makes retirees within a year of transitioning from work 40% more likely to have a heart attack?
   • How having "a well-written retirement plan equals better health and wealth."

Our 2 Cents is back this week with a discussion about what's in store for Social Security in the years ahead. Plus, we're taking a closer look at Bed, Bath and Beyond's demise and lessons to learn from what happened to the once beloved retail chain.

1. The Future of Social Security:
   • The recent negative headlines about Social Security have some people worried about their preparedness for retirement. 
   • What are some possible solutions to ensure the fund's solvency for the long-term?
   • How any changes made to the Social Security program could impact your claiming strategies.
   • What risks are involved with some of the possible changes?
2. Bed, Bath & Gone:
   • After a long struggle to stay in business, Bed, Bath & Beyond declared bankruptcy and will be closing all its stores.
   • What ultimately lead to the company's downward spiral?
   • The reasons why this is another prime example of the challenges that come with picking individual stocks.

Welcome back to another great Our 2 Cents episode with Steve and Gabriel Lewit! In store for today is a thoughtful conversation about the wisdom that comes with age and experience, and how it impacts your financial planning. Plus, they're sharing fun quotes and big money regrets!

1. Gabriel's Quote Picks of the Month:
   • "If you're shopping for stocks, choose them the way you'd buy groceries, not the way you'd buy perfume." - Benjamin Graham
   • "You can live to be a hundred if you give up all things that make you want to live to be a hundred." - Woody Allen
2. The Role of Wisdom in Financial Planning:
   • How does age impact wisdom, and wisdom impact your financial planning?
   • Why you should be thinking deeper about your retirement, not just surface level planning.
   • The importance of incorporating your, and other people's, life experiences and lessons into your financial planning.
3. Baby Boomers' Big Money Regrets:
   • From swimming pools and recreational vehicles to lavish weddings and more! Baby Boomers are sharing what purchases they made after retiring that they regret.

Richard Branson's Virgin Orbit (VORB) collapsed last week and Steve and Gabriel are here to discuss what lead to its demise, and the inherent risks involved with picking individual stocks. Plus, they're sharing details on I bonds, answering listener questions, and more on today's show!

1. VORB Goes Bust:
   • Everything has pros and cons and a proper place in your planning, but we like to take a Core + Satellite approach when considering investment options.
   • How does the collapse of VORB showcase the risk of speculative investing?
2. The "Mansion Tax":
   • Los Angeles recently introduced an extra tax on homes sold over $5 Million and $10 Million in the county.
   • We're discussing why making smart tax moves can have a major impact on your wealth.
3. I Bond Updates:
   • I bonds gained popularity last year, but what are they? And how are the interest rates calculated?
   • There's been an update to the fixed rate component of these bonds, what does that mean for investors?
   • There are limits on how much you can buy, we'll share how it works.
4. Listener Questions:
   • "I'm retiring in about five years and I'm currently maxing out my 401(k), but not adding any other savings. Should I be saving anywhere else even if that means putting less in my 401(k)?" - John
   • "I have a REIT that I purchased several years ago and it's done nothing but lose money. I'm told that I can't cash it out but I got a letter from a company offering to buy it from me. Is this worth exploring?" - Amy

The Fed's efforts to curb inflation have continued this week, and that's our first segment on this new episode of Our 2 Cents. Then, Steve and Gabriel are taking a look at some major shifts in the vacation rental industry and wrapping up the show with listener questions.

1. Rate Hike Déjà Vu:
   • What does this latest move by the Fed indicate about the banking industry?
   • What do the continued rising rates mean for consumers?
   • Are there any positive benefits to rising interest rates?
2. "Airbnbust":
   • Vacation rentals are facing new challenges, even as the industry continues to grow.
   • An oversaturated market is hurting individual owners/hosts while short-term rental demand has never been higher.
   • We'll explain what could have caused the run up in costs and the oversupply in the market.
   • Plus, the unique impacts being felt across communities and neighborhoods.
3. Listener Questions: 
   • "I just paid my last tuition payment, so my kids are officially off the payroll. Is it safe to cancel my life insurance at this point? - Tom
   • "I'm not retiring for another five years, so I don't feel the need to be ultra-conservative with my money, but my wife keeps insisting that she wants to be more secure. Just how secure do I need to be at this stage?" - Jim

Steve and Gabriel start off today's show by sharing their thoughts on the recent collapse of Silicon Valley Bank and what it could mean for you. Then, they switch gears to wrap up our Part 2 of different investor personalities. Listen in now to this new episode of the Our 2 Cents podcast!

1. The SVB Collapse:
   • The 10-step timeline of events that led up to the SVB failure.
   • Thoughts on what this means for investors and the broader banking industry as a whole.
2. Understanding Investor Personalities - Part 2:
   • The Doomsday Prepper: When you're always concerned that the worst is going to happen.
   • The Odd Couple: When your financial views and goals are misaligned with your partner's.
   • The Trend Follower: When the "fear of missing out" forces you to hop on the bandwagon.
   • The Googler: When you're searching all corners of the internet for information and become overwhelmed.
   • The Model Citizen: When you've diligently saved money all your life but don't spend it or enjoy it.

Have you ever noticed certain personality traits in yourself when it comes to your financial matters? In Part 1 of a 2-part series, Steve and Gabriel explore the world of investor personality types and how, as advisors, they've learned to work with and help all kinds of investors.

1. Understanding Investor Personalities:
   • The Burned One: When trusting just doesn't come very easily to you anymore.
   • The Do-It-Yourselfer: When you've got it all handled by yourself and don't need any outside help.
   • The Price Shopper: When finding the best deal at the lowest possible price out there is your top priority.
   • The Over-Analyzer: When "analysis paralysis" tends to take over control of your decision making.
   • The Ostrich: When you catch a case of "hope-itis" and cross your fingers that it will all just work out.

It's the first week of March and we have spring fever on the Our 2 Cents podcast! Today, Steve and Gabriel are sharing some spring cleaning tips for your finances and diving a bit deeper into asset allocation. Plus, we have a couple other fun segments on the show, too! 

1. Gabriel's Quote Picks of the Month:
   • "The best way to teach kids about taxes is by eating 30% of their ice cream" - Bill Murray
   • "The world is divided into two groups—the people who do things and the people who get the credit" - Dwight Morrow
2. Spring Cleaning for Your Finances:
   • Budget and cash flow review
   • Consolidate financial accounts
   • Review asset allocation to ensure alignment
   • Organize insurances
   • Reupdate your overall financial plan
3. A Bit More on Asset Allocation:
   • "Vanguard Sees Global Equities Trouncing U.S. Stocks Over Next Decade"
   • An overview of these capital market assumptions and forward looking projections
   • This prediction would mean a major shift in where growth will be coming from
   • Why all this makes diversification so important
4. Getting to Know Steve and Gabriel:
   • Would you rather have a personal maid or a personal chef?
   • What's the worst haircut you've ever had?

Continuing from last week's conversation about Monte Carlo simulations, we're sharing our preferred income planning techniques and why we feel they provide enhanced benefits, both financially and emotionally. But first, we're flipping the script and starting the show with listener questions! 

1. Listener Questions:
   • "I've talked to a financial advisor and I like him a lot. But how do you know if someone is trustworthy or not?" - Wayne
   • "I've been stressed at work for a long time, and honestly would have left years ago. However, each year I receive a sizable retention bonus so then I decide to stick it out until I end up frustrated again, right before my next bonus. It feels like a viscous cycle. When should I walk away from this without feeling stupid?" - Larissa
2. Different Income Planning Ideas:
   • How "worst-case scenario planning" and stress-testing sets the table for a good income plan
   • The Bucket Planning Approach
   • The Flooring Method
   • Hybrid Planning
   • Why we feel these planning methods are better than a Monte Carlo simulation and also offer greater peace-of-mind

Today we're poking holes in a common financial planning strategy called a Monte Carlo and explaining why we don't consider it to be a reliable planning technique. Then, we are giving you 5 ways to keep feeling young throughout your retirement years. 

1. This 'Lazy Way' of Financial Planning Should Be Banned:
   • What is a Monte Carlo simulation and how are the results generated?
   • What factors could generate vastly different and unreliable results for the exact same client?
   • Why the "safe" withdrawal rate isn't really safe
2. 5 Habits to Feel and Stay Young in Retirement:
   • The importance of creating structure to your day
   • Why breaking up the routine is crucial as well
   • Retiring doesn't mean you should leave your social life behind
   • Healthy eating and exercise are keys to a longer life (and retirement!)
   • Getting involved can help you live a retirement life with purpose

Healthcare in retirement is complex, so on today's episode we're breaking down parts A, B, C and D of Medicare. Plus, the guys are sharing their interpretations of some quotes Steve gathered for us and then answering some "Get to Know Us" questions. 

1. Medicare 101 - The A, B, C, D's of it All:
   • Answering key questions about Medicare from signing up, what it covers, and what it costs.
   • What are Parts A, B, C and D?
   • Clearing up some common Medicare misconceptions.
   • What is Medicare Advantage, and are there any disadvantages to this optional plan?
2. Steve's Quote Picks of the Month:
   • "Accomplishing the impossible means only that the boss will add it to your regular duties moving forward" - Doug Larson
   • "Wall Street is the only place that people ride to in a Rolls Royce to get advice from people who take the subway" - Warren Buffett
3. Getting to Know Steve & Gabriel:
   • What habit do you want to break but haven't been able to?
   • Who would you most like to sit beside on a 10-hour flight?

On today's episode of Our 2 Cents, your hosts Steve and Gabriel Lewit are sharing the top 10 states where $1 million in retirement might not last you as long as you need. Then they're discussing the latest IRS scams you'll want to be able to spot so you can protect yourself this tax season.

1. How Long Will $1 Million Last?:
   • Recent data shows retiring with $1 million in certain states might not be enough.
   • What states can you stretch $1 million the furthest?
   • According to a 2021 study, Florida, South Carolina, and Arizona were the most popular states to retire to, do you think they fall on this list?
2. Fighting Back Against IRS Scams:
   • In what ways will the IRS contact you? Will it be by mail, email, or by phone?
   • What are the latest scams you should watch out for this year?
   • Received a call from Taxpayer Advocate Services? Find out if they're a real organization.
   • What is the key way to protect yourself if you believe you might be the target of a scammer?

We have a great retirement planning assessment / checklist for you to kick off the new year on today's podcast episode! But before we dive into that, we're discussing the debt ceiling which was on track to be reached Thursday, and what that can mean for the U.S. economy going forward.

1. The Looming Debt Ceiling:
   • Why the debt is continuing to climb to this limit.
   • Why just raising the debt ceiling is difficult.
   • So why not just do away with the debt limit altogether?
   • And what might happen if this doesn't get resolved?
2. New Year Planning Checklist:
   • Do I need to make changes to my planned income this year?
   • Should I take Social Security in 2023?
   • Do I have a plan to handle market volatility?
   • What's my plan for excess cash this year to help offset the effects of inflation?
   • Should I reassess my core financial priorities?

Welcome to the first episode of the Our 2 Cents podcast for 2023! We're excited to kick off our show with some exciting new topics.

First, we're sharing four numbers to keep in mind as you plan ahead for the new year. Then we're looking at what retiring with $1 million could look like, and we round out the show with a couple listener questions. 

1. 4 Retirement Numbers Savers Should Know:
   • What 25% represents...
   • What happened in the year 1931...
   • What you can do with $22,500...
   • What 41.7 is the average of...
2. 24.5 Million Millionaires:
   • With the cost of living increasing, $1 million is not what it once was.
   • Why people are surprised by what 4% of $1 million is in retirement.
   • Is $3 million the new $1 million?
3. Listener Questions:
   • "I turn 72 this year, so I'll have to start taking money out of my IRA, even though I don't really need it. Can I just take it out and reinvest it right back into something else?" - Ellen
   • "Should I be doing anything besides 529 plans to save for my kids for college or is that still the best option?" - Matt

Tesla stock has received quite a hit this year and we're diving into all the stats. Next, we look back on market forecasts from the start of 2022 to see how right or wrong they were. We wrap up the show with some insight into Secure 2.0 and the ways it will impact retirement planning.

1. The Non-Stop Tanking of TSLA:
   • Staggering stats on Tesla's stock price and YTD performance
   • How activity like this relates to the greater picture of "concentration risk"
   • Is this the bottom for the stock or will we see more declines?
2. Review of 2022 Forecasts: Wrong or Right?:
   • Looking back at Wall Street's 2022 targets for the S&P 500
   • Many unpredictable events happened this year which shows just how hard it is to guess what the market will do
3. Secure 2.0's Retirement-Related Provisions:
   • 401(k) impacts such as changes to enrollment, plan access, "catch-up" contributions, employer match options, and more
   • Age increases for RMDs next year and over time
   • Changes to the use of money in 529 college savings plans
   • Plus more!

You've probably heard these expressions and idioms at some point in your life, perhaps from a wise Grandmother even, but today we're looking at them through a financial lens. But before we do that, we're diving into a bit of a "smorgasbord" of current events in the investing world.

1. Investor Smorgasbord
   • What to make of the recent CPI and inflation data
   • What this could mean for the possibility of a recession
   • FTX imploded and the CEO was arrested and charged
   • Why what happened has been called "unsophisticated" and "old-fashioned embezzlement"
2. The Financial Truths in Grandma's Wisdom:
   • "When it rains, it pours"
   • "You never know"
   • "A bad apple spoils the whole barrel"
   • "I heard it straight from the horse's mouth"
   • "If your friends all jumped off a bridge, would you do it too?"
3. Getting to Know Steve and Gabriel:
   • Are you for or against permanent Daylight Saving Time?
   • What is your favorite season of the year?

The year is wrapping up and it's got us thinking about 10 somewhat nerdy, but ultimately important, "end-of-year planning" tasks to put on your radar. Then we're tackling two listener questions about life insurance!

1. Year-End Planning Checklist:
   • Observe the impacts of sequence of returns, if you're taking income
   • Double check your planned retirement date to confirm if it is still realistic
   • Calculate your withdrawal rate percentage
   • Review CARES Act distributions and repayments
   • Have an inherited IRA? You may need to take RMD's
   • Understand the changes to FSA spending rules
   • Consider bunching your charitable giving
   • Review all your various insurance coverages—yes all of them
   • Consider a Roth Conversion
   • Engage in Tax Loss Harvesting
2. Listener Questions:
   • "My husband is 13 years older than me and he's retiring next year. The only life insurance that he has is provided by his job, so he will have none when he retires. Should I take out a policy on him since he is older than me?" - Jane
   • "I have been seeing conflicting answers so I thought I would ask you. What is the better life insurance—term insurance, universal life or whole life?" - Ted

Welcome back to a new episode of the Our 2 Cents podcast! This week, Gabriel puts Steve's retirement knowledge to the test with a fun game of Retirement Fact or Fiction.

Read below for hints at the quiz questions and tune in to see how many Steve gets correct!

1. Retirement Fact or Fiction:
   • An ______ retirement is not realistic for many
   • Relocation is the ______ for retirees
   • It is unlikely you'll be ______ and unable to ______ healthcare in retirement
   • It's normal to feel some ______ about your future
   • It is too late to start ______ in your 50s
   • ______ is key to financial success
   • Retirement is a time of ______ for most people
   • ______ is more valuable than money
   • Retirement is the day you ______ all work ______
   • Retirement lasts a long time and ______ go beyond the ______
   • You'll be better off if you stay ______ and ______
   • Most people need a ______

Inspired by Steve's recent visit to NYC during the New York City Marathon, we're looking at preparing for retirement as one would prepare for a marathon. From all the preparation to do in advance of the race, to maintaining a proper pace, and making it to the finish line, we're covering the entire journey on this week's podcast episode.

1. Preparing for the Retirement Marathon:
   • Things you do ahead of time to set yourself up for peak success during the race.
   • Once the race clock begins, you can't start it over. Why having a plan ahead of time can help you finish the race.
   • You'll undoubtedly face different, and sometimes unexpected, conditions throughout the race. So how can you plan for those?
   • Remember: it's a marathon, not a sprint. Pacing yourself, and your spending, is important.
2. End-of-Marathon Planning:
   • Join us for a quick walkthrough of the important elements of Estate and Long-Term Care Planning.
   • First items you should get in place, e.g. a trust, wills, POAs.
   • Creating a communication plan for your wishes, your intentions, and the documents you've prepared.
   • Should you have LTC insurance? And if you should, what kind is the best to have?

This week's episode of the Our 2 Cents podcast features a thought-provoking topic about making financial decisions and comparing what you're doing to what else might be out there. Then we answer a couple questions from listeners of ours, and Steve and Gabe are answering an interesting "Get to Know Us" question too.

1. Is the Grass Greener?:
   • Should you be doing something different with your portfolio when the market is down?
   • Is there someone out there who knows exactly when to move your money out of the market to avoid losses?
   • Are there ever times when the fence is worth jumping over for greener grass?
2. Listener Questions:
   • "I almost got out of the market before it dropped down recently. Now I'm back to where I was before. Should I get out now?" -Ellen
   • "I had kids later in life and now I am almost 60 with twin boys heading off to college soon. I want to be able to help them financially through college but I also want to retire eventually, too. What should I place a higher priority on - their college education or my retirement?" - Jesse
3. Get to Know Steve and Gabriel:
   • Would you rather have a pause or a rewind button in your life?

Like the lights that pop up on your car's dashboard to tell you something is wrong, there are warning signs that can indicate potential trouble in your financial life too. On today's episode, Steve and Gabriel are discussing things to watch for to spot potential problems ahead. Plus, they're sharing some quick hits and answering a listener question. 

1. Gabriel's 'Quick Hits': 
   • Social Security COLA for 2023 is the most since 1981
   • Increased 401(k) and IRA contribution limits for 2023
   • Tax bracket adjustments & standard deduction increases
   • Average college tuition costs have declined  
2. Financial Warning Indicators: 
   • No idea what your budget is for your retirement years
   • Only focusing on the "retirement number"
   • Not having sources of tax-free income in retirement  
3. Listener Question: 
   • "I've always been a more aggressive investor. I like seeing my money grow. At what age should I begin getting more conservative?" - Art

The gross national debt is inching close to an important statutory ceiling and Steve and Gabriel are here to break down what that all means on this new episode of Our 2 Cents.

They're also sharing real experiences when their clients' emotions took over the the driver's seat in their financial planning.

1. $31,000,000,000,000 and Counting:
   • Congress has placed a "cap" on how much the government can borrow, and at the start of the fiscal year the debt has reached $31 trillion, and $31.4 trillion is the borrowing limit.
   • However, this year's deficit will decline by an estimated $1.7 trillion.
   • So, what's the difference between the deficit and the debt?
   • What is the impact of all this on consumers and possible future tax ramifications?
2. Sharing Stories: When Emotions Impact Your Planning:
   • It's no secret that your emotions can play into your decisions and reactions across all areas of life.
   • We're sharing stories about some of the more common emotions with regards to investing:
     • Greed
     • Fear
     • Hope
     • Pride
     • Joy

We're back again on the Our 2 Cents podcast! Gabriel and Steve are putting a different spin on talking about recent market behavior by sharing some do's and don'ts when considering your options. Next, they're drawing comparisons between the world of retirement planning and America's favorite sport to watch: Football.

1. The Rollercoaster Ride:
   • What options are available to you as we ride out this rollercoaster market ride?
     • Do nothing?
     • Abandon your plan?
     • Let your emotions drive your decisions?
     • Try to buy the winners and sell the losers?
     • Look at non-market options?
   • There are pros and cons to every approach when handling difficult markets, we'll discuss some main points to consider if you are ready to take action.
2. Calling the Plays - Getting Into Victory Formation:
   • The 'Retirement Red Zone' and why this time is critical that you don't get tackled for a loss.
   • Does the coach make a difference? Why you should find one who fits your needs and your investing philosophy.
   • Victory formation: Not taking unnecessary risk when you've already won the game.