The CU2.0 Podcast

CU 2.0 Podcast Money Talks Episode 9 with Kirk Kordeleski on Knowing Your Risk Tolerance

February 20, 2023 Robert McGarvey Season 1 Episode 9
The CU2.0 Podcast
CU 2.0 Podcast Money Talks Episode 9 with Kirk Kordeleski on Knowing Your Risk Tolerance
Show Notes

Talk about Hatfields vs. McCoys. In the world of credit union c-suite retirement planning there are two major competing scenarios. There are SERPs based on whole life policies. And there are IULs, indexed universal life plans.

In this intro I am not going to tell you the difference. That’s because this is a complex topic and on the show is Kirk Kordeleski onetime Bethpage Federal Credit Union CEO and now an executive with OM Financial Group which specializes in c-suite retirement plans.

Kordeleski knows SERPs and he tells the fundamental differences between whole life SERPs and IULs and know that the differences can be substantial.

Are you already in a SERP or an IUL?  Key advice from Kordeleski is to get an annual review of where you stand now.  With credit union c suite salaries climbing and inflation roaring, where you really stand may not be where you had hoped to be.  Get that review and get it soon.  There probably still is time to take remedial steps to get your retirement back on course.

As you listen, keep in mind, a key question in your retirement planning is what is your risk tolerance? And what will it be when you are 65? 75? 85?  And know that we are living longer.  More years have to be factored in.

Listen up.

This show is in a Money Talks series where credit union compensation is untangled.  This show will help some executives negotiate better pay packages and will also help some board members understand the ways in which 2023 credit union compensation is utterly different from 1993 comp plans, even 2013 plans because now competition for talent is so much fiercer.

Hear episode one in Money Talks here.  Episode 2 is here. Episode 3 is here. Episode 4 is here. Episode 5 is here. Episode 6 is here. Episode 7 is here. Episode 8 is here.  

Want to know more about SERPs - or other matters raised in this podcast? Email Kordeleski

Have suggestions for topics to explore in this show? Email me, Robert McGarvey - rjmcgarvey@gmail