Artwork

Player FM - Internet Radio Done Right
Checked 10d ago
Lagt til fifty-one uker siden
Innhold levert av Matt Paul & Steve Paul, Matt Paul, and Steve Paul. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Matt Paul & Steve Paul, Matt Paul, and Steve Paul eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
Player FM - Podcast-app
Gå frakoblet med Player FM -appen!
icon Daily Deals

Can I Retire with $1 Million Saved?

15:45
 
Del
 

Manage episode 439597960 series 3551573
Innhold levert av Matt Paul & Steve Paul, Matt Paul, and Steve Paul. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Matt Paul & Steve Paul, Matt Paul, and Steve Paul eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

The age-old question in retirement planning is how much do I need to retire? For many years, people have made one million dollars their goal as if that’s a sure-fire amount to retire on. It’s a nice round number to aim for, but is it really going to be enough?

Today we bring on Matt Dombrowski, CFP® to discuss the process we go through with clients to help identify the number that they need to focus on. There are three primary questions we ask clients and we’ll share the conversations we have on retirement expenses, budgeting, income, and risk.

We hope by the end of the video, you have a better understanding of what you need to know to determine whether you can retire with $1 million, but it’s always best to seek professional guidance.

Here’s what we discuss in this episode:

0:00 – Intro

0:57 – Background on Matt

2:40 – Expenses and budgeting

5:25 – Income sources

8:01 – Risk
Learn more about us: https://www.rwpaul.com/our-firm

Contact Matt & Steve: https://www.rwpaul.com/contact

Phone: 248-305-9911

Find us on YouTube: https://bit.ly/481OA51

  continue reading

20 episoder

Artwork
iconDel
 
Manage episode 439597960 series 3551573
Innhold levert av Matt Paul & Steve Paul, Matt Paul, and Steve Paul. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Matt Paul & Steve Paul, Matt Paul, and Steve Paul eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

The age-old question in retirement planning is how much do I need to retire? For many years, people have made one million dollars their goal as if that’s a sure-fire amount to retire on. It’s a nice round number to aim for, but is it really going to be enough?

Today we bring on Matt Dombrowski, CFP® to discuss the process we go through with clients to help identify the number that they need to focus on. There are three primary questions we ask clients and we’ll share the conversations we have on retirement expenses, budgeting, income, and risk.

We hope by the end of the video, you have a better understanding of what you need to know to determine whether you can retire with $1 million, but it’s always best to seek professional guidance.

Here’s what we discuss in this episode:

0:00 – Intro

0:57 – Background on Matt

2:40 – Expenses and budgeting

5:25 – Income sources

8:01 – Risk
Learn more about us: https://www.rwpaul.com/our-firm

Contact Matt & Steve: https://www.rwpaul.com/contact

Phone: 248-305-9911

Find us on YouTube: https://bit.ly/481OA51

  continue reading

20 episoder

Alle episoder

×
 
As we step into a new year, the financial landscape is rife with forecasts from various analysts and institutions. But how reliable are these forecasts, and should investors base their strategies on them? In this episode, Matt and Steve will look back at how 2024 performed compared to predictions and explain why you shouldn’t make investment decisions based on what people think might happen. Matt and Steve also share their predictions for 2025, offering insights into potential market trends. While Matt remains optimistic, anticipating another double-digit year, Steve expresses caution due to looming inflation concerns and geopolitical risks. Both agree on the importance of staying informed and adaptable, as the market's unpredictability can lead to unexpected opportunities and challenges. For investors, the key takeaway from this episode is clear: focus on having a solid plan and strategy rather than getting caught up in the noise of predictions. What do you think might happen? Leave a comment and let us know. Here’s what we discuss in this episode: 0:00 – Intro 1:18 – Should you listen to predictions? 1:14 – 2024 prediction recap 10:15 – Our 2025 predictions 17:15 – Stay diversified Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
The world of cryptocurrency has always been a rollercoaster, and the recent surge of Bitcoin to $100k has everyone talking. It’s been a huge topic in our office as well but is it just a flash in the pan? Today we’re going to discuss the growing confidence in digital currencies, spurred by a new administration that seems more crypto-friendly than ever. This political shift could pave the way for more innovation and less restrictive regulation, potentially transforming the crypto landscape. Here’s what we discuss in this episode: 0:00 – Intro 1:18 – Mining Bitcoin 5:18 – How to get BTC exposure 8:47 – Ethereum 10:00 – Crypto friendly administration 15:58 – How high can we go? 20:50 – Losing sectors 21:25 – What’s our strategy? Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
It’s getting down to crunch time in 2024 so what needs to be on your financial planning checklist before we hit the end of the year? As the year draws to a close, it's time to take a closer look at your financial plans and ensure you're on track for a secure future. In this episode, Matt and Steve provide a comprehensive end-of-year financial checklist that covers everything from maximizing retirement contributions to exploring tax-saving strategies. You might not need to check everything off this list, but reviewing all of these areas will keep your on track for a secure financial future. Here’s what we discuss in this episode: 0:00 – Intro 1:58 – Max contributions 3:17 – Tax-loss harvesting 5:10 – Check RMDs 7:19 – Charitable contributions 9:18 – HSA & FSA contributions 12:07 – Roth conversions 14:46 – Rebalance 16:25 – Review insurance 18:18 – Pay off debt 20:07 – Gifting strategies Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
In the latest episode of Retirement Approved, Matt and Steve dive into the glittering world of gold investing. As gold prices reach new heights, we’ll explore the reasons behind this surge and what it means for investors. Gold has always been a hot topic in the investment world, often seen as a safe haven in times of economic uncertainty. But how should it fit into your retirement portfolio? Here’s what we discuss in this episode: 0:00 – Intro 1:41 – Price of gold 3:15 – The S&P 500 compared to gold 5:48 – Geopolitical factors 8:18 – Gold compared to the money supply 11:03 – Rules for owning gold 13:52 – How do you acquire gold? 17:15 – Other precious metals Get our ebook ‘Nuggets of Wisdom’ at RetirementApproved.com Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
Few things get as much attention inn retirement planning as Social Security because of its importance and its uncertain future. Today we’re going to tackle some of the essential planning conversations you need to have about Social Security and clear up the questions people are asking as we head into a new year. Here’s what we discuss in this episode: 0:00 – Intro 1:21 – 2025 COLA increase 2:49 – When to file 6:55 – No taxes on SS? 10:43 – Solvency 15:33 – When do you file? Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
Everyone wants to get a leg up on the stock market and make shrewd investment decisions to grow their portfolio. The problem is trying to time the market is incredibly difficult. So many different factors are at play when you’re investing in the market and that’s why even the smartest people get it wrong. In this episode, we’re going to tackle the age-old question: Is it time to start timing the market? Using a sports betting analogy, Matt and Steve break down the complexities and risks of market timing. We’ll use some eye-opening charts to help you understand the mistakes people make and why staying invested might be your best bet. Here’s what we discuss in this episode: 0:00 – Intro 2:13 – Market timing is like a parlay 3:45 – Should I get out of the market? 6:18 – Types of investors 8:38 – Overconfidence 9:41 – Election years 11:16 – Mind-blowing chart 13:07 – Even the best get it wrong Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
The age-old question in retirement planning is how much do I need to retire? For many years, people have made one million dollars their goal as if that’s a sure-fire amount to retire on. It’s a nice round number to aim for, but is it really going to be enough? Today we bring on Matt Dombrowski, CFP® to discuss the process we go through with clients to help identify the number that they need to focus on. There are three primary questions we ask clients and we’ll share the conversations we have on retirement expenses, budgeting, income, and risk. We hope by the end of the video, you have a better understanding of what you need to know to determine whether you can retire with $1 million, but it’s always best to seek professional guidance. Here’s what we discuss in this episode: 0:00 – Intro 0:57 – Background on Matt 2:40 – Expenses and budgeting 5:25 – Income sources 8:01 – Risk Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
August has been a month of market volatility, leaving many investors feeling uneasy about their portfolios. There’s plenty of reason to believe that it will continue through the rest of the year. So let’s discuss the reasons behind this turbulence and provide our view on how to navigate the remainder of 2024. We’ll breakdown the different factors that have led to the market’s choppy behavior, including the Japan carry trade, election uncertainty, and recession fears. Matt and Steve also share insights on how to navigate these turbulent times, emphasizing the importance of diversification and having a solid financial plan. Feeling a little nervous about the months ahead? Tune in to gain valuable knowledge on managing your investments and staying calm during market fluctuations. Here’s what we discuss in this episode: 0:00 – Intro 3:13 – Market volatility and client emotions 6:35 – Anticipating future market volatility 10:16 – Understanding inflation & market adjustments 12:08 – Diversification and proper planning 14:35 – Final thoughts Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
An idea that we had years ago has finally come to fruition and we’re excited to debut our new book, Retirement Approved . This comprehensive guide is designed to simplify the complex world of retirement planning, making it accessible for everyone, whether you're approaching retirement or already enjoying your golden years. For the month of August, you can get the Kindle version of "Retirement Approved" for just $1. That's right, an incredible deal for an invaluable resource! If you prefer a physical copy, clients can stop by the office to pick one up for free. This promotion makes it easier than ever to access expert guidance for your retirement journey. Here’s what we discuss in this episode: 0:00 – Intro 0:10 – Book launch 0:57 – The concept 2:10 – Easy to read 3:53 – Final thoughts Retirement Approved by Steve and Matt Paul - https://www.amazon.com/Retirement-Approved-Steven-Paul/dp/196404619X Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
Retirement should be a time of relaxation and enjoyment, but it can quickly become a period of stress if you haven’t addressed the biggest risks to your financial security. Today we’re going to identify the five biggest risks that could derail your retirement plan and discuss ways to combat these risks through planning. Understanding these five major risks can help ensure that your retirement stays on track and you’re able to enjoy it as much as possible. Join us for a deeper dive into each risk and practical advice on how to safeguard your financial future. Here’s what we discuss in this episode: 0:00 – Intro 2:08 – Sequence of Returns Risk 8:32 – Longevity Risk 11:00 – Inflation Risk 14:40 – Long-term care Risk 18:00 – Tax Risk 20:38 – Bonus Risk Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
We’re back to talk more news, and this week, we’re tackling the world of meme stocks, the latest on inflation, and the rise of Ethereum ETFs. You might’ve heard of Keith Gill, known online as “Roaring Kitty” who recently shook the financial world with his bold moves on GameStop. The brothers discuss his recent success and whether GameStop is still a good buy. Then, they discuss inflation and the latest CPI numbers, explaining the significance of recent figures, the Federal Reserve's approach, and the potential impact on consumer savings and credit card debt. This episode also covers Ethereum ETFs, with the SEC's recent approval making waves. Finally, we’ll look at the "Magnificent Seven" stocks driving the market, focusing on Nvidia's phenomenal growth and the importance of diversification to avoid overexposure. Tune in to Retirement Approved to stay informed about the latest trends and strategies in finance and investing! Here’s what we discuss in this episode: 0:00 – Intro 1:07 – What is Roaring Kitty? 5:40 – Updates on inflation 8:14 – ETH ETFs approved 13:50 – Nvidia's Earnings and Mag7 ETH 2030 Price Target and Optimal Portfolio Allocations Report: https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-eth-2030-price-target.pdf Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
When it comes to retirement planning, annuities often get a bad rap. However, they can be a powerful tool for ensuring financial security in your golden years. In this episode, we’ll take a deep dive into the world of annuities, breaking down the different types and how they can benefit your retirement strategy. From the basics of single premium immediate annuities (SPIAs) to the intricacies of fixed index annuities (FIAs) and variable annuities, they break down what you need to know to make informed decisions. They also discuss how high interest rates impact these financial products and offer practical advice for retirees. Here’s what we discuss in this episode: 0:00 – Intro 1:40 – Single premium immediate annuity 3:50 – Multi-year guaranteed annuity 9:10 – Fixed index annuities 14:10 – Variable annuities 19:20 – Final thoughts Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
Cryptocurrency has taken the world by storm, but for many, it remains a tangled web of complexity. Today we’re going to dive into five questions about crypto and try to simplify things for any investor hoping to learn more. Whether you're a retiree curious about adding crypto to your portfolio or a novice investor eager to understand the basics, this episode will break down the key information most people are asking about. Matt and Steve will explain the phenomenon of memecoins, break down the differences between Bitcoin and Ethereum, explain the tech and lay out the risks. With more and more of our world moving into the digital realm, getting a better grasp on crypto is worth your time. Here’s what we discuss in this episode: 0:00 – Intro 1:07 – Memecoins 3:34 – Bitcoin vs Ethereum 8:42 – Who uses crypto? 13:27 – What is blockchain? 16:58 – The risks 18:18 – Ethereum ETF coming? 22:10 – How much should you allocate? Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
The news is never short of headlines and this year is certainly not devoid of big stories. With so much uncertainty at home and abroad, it’s not surprising that we’ve received numerous questions about the economy and what might be coming in the near future. While we can’t predict what will happen with the economy, we can address all of the concerns and questions through planning. In this episode, we’ll tackle a few of those recent questions that hit on some of the top economic headlines. Discover why the Fed's next move could be a game-changer for your portfolio, how Middle East conflicts might affect market stability, and what Bitcoin's halving means for the future of cryptocurrency. Here’s what we discuss in this episode: 0:00 – Intro and the Detroit Red Wings 3:20 – Inflation 7:44 – Housing data 10:30 – Conflict and market crashes 13:55 – Bitcoin Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
Taxes may suck, but your retirement planning doesn't have to! There are strategies that everyone should consider that could benefit you when it comes to the daunting topic of taxes and wealth transfer. We’ll tackle the topic today with humor, clarity, and actionable advice. Learn how to leverage after-tax accounts, avoid common IRA traps, and why starting your tax planning at retirement is crucial. Don't let taxes derail your retirement dreams—arm yourself with the knowledge to fight back and keep more money in your pocket. With the potential transfer of billions from baby boomers to the next generation on the horizon, now's the time to listen in and learn how to protect and grow your wealth. Here’s what we discuss in this episode: 0:00 – Intro 1:27 – Understand different types of accounts 3:07 – The great wealth transfer 4:02 – 10-year rule for IRAs 7:55 – Converting to a Roth 11:57 – RMDs 14:32 – IRMAA 15:50 – Common IRA traps Learn more about us: https://www.rwpaul.com/our-firm Contact Matt & Steve: https://www.rwpaul.com/contact Phone: 248-305-9911 Find us on YouTube: https://bit.ly/481OA51…
 
Loading …

Velkommen til Player FM!

Player FM scanner netter for høykvalitets podcaster som du kan nyte nå. Det er den beste podcastappen og fungerer på Android, iPhone og internett. Registrer deg for å synkronisere abonnement på flere enheter.

 

icon Daily Deals
icon Daily Deals
icon Daily Deals

Hurtigreferanseguide

Copyright 2025 | Sitemap | Personvern | Vilkår for bruk | | opphavsrett
Lytt til dette showet mens du utforsker
Spill