Saving With Silverman

Diversification - What Is It, and Why Do You Need It?

On today’s Saving With Silverman podcast, Mark Silverman CFP® explains diversification. Most people we talk with don’t even understand what it is or why it’s important. Some people think it’s just a mutual fund or a ton of different mutual funds.
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-32-diversification-what-is-it-and-why-do-you-need-it  
 
What we discuss on this episode: 
0:39 – Defining diversification
1:28 – How much emphasis
3:09 – How Mark defines it
4:18 – Too diversified
5:28 – Making portfolios better

The Types of Financial Risk

On today’s Saving With Silverman podcast, Mark Silverman CFP® explains some of the different types of financial risks that people have in their portfolios and how to be on the lookout for it.
 
Read more and get additional financial resources here: 
 
What we discuss on this episode: 
0:52 – Market risk
2:05 – Interest rate risk
2:58 – Inflation risk
3:57 – Health care risk
5:26 – Longevity risk

Don’t Make These Estate Planning Mistakes

Some people don’t care about leaving a financial legacy to their family, but for those who do, it’s important to eliminate some of the common estate planning mistakes. We’ll explain what they are.
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-30-dont-make-these-estate-planning-mistakes 
 
What we discuss on this episode: 
2:35 – Failing to plan for expenses
3:49 – Failing to update beneficiaries
5:12 – Failing to avoid conflict and litigation
6:37 – Transferring real estate
8:06 - Taxes

Watch Out for These Weaknesses in Your 401k Plan

On today’s Saving With Silverman podcast, Mark Silverman CFP® explains why your 401k is far from perfect as a retirement savings tool. This also applies to your 403b, TSP or 457 plans.
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-29-watch-out-for-these-weaknesses-in-your-401k-plan 
 
What we discuss on this episode: 
1:00 – Administrative costs
2:10 – Mutual funds
3:34 – Limited asset classes
4:25 – Subpar conservative investments

5 Financial Tips for Your Final Decade of Work

The final decade of your working life is crucial to your success in retirement. We’ll explain why you need to know your numbers and how flexibility is key to winning with money.
 
Read more and get additional financial resources: https://silverman-associates.com/saving-with-silverman-podcast/ep-28-5-financial-tips-for-your-final-decade-of-work 
 
What we discuss on this episode: 
1:19 – What’s important?
2:44 – Knowing your numbers
4:40 – Estimate your income streams
6:37 – Health care
8:40 – Be flexible

What Are Pensions and Why Are They Not as Popular?

Fewer and fewer companies are providing pensions these days. Unless you work for the government or a university, most people don’t have pensions. We’ll explain why they’re no longer very popular.
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-27-what-are-pensions-and-why-are-they-not-as-popular 
 
What we discuss on this episode:
0:31 – Fewer companies providing pensions
1:21 – Lack of a pension
2:35 – Pension buyout
3:30 – Planning for inflation

Mutual Funds - What Are They and How Do They Work?

Mutual funds have long been the most popular way for people to invest, but that landscape is changing. We’ll explain what mutual funds are and the different types. 
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-26-mutual-funds-what-are-they-and-how-do-they-work 
 
What we discuss on this episode: 
1:22 – Clients with mutual funds
2:06 – Expense ratios
3:20 – Loaded mutual funds
5:20 – Tax issues
6:23 – Should mutual funds be eliminated?
7:23 – How often does Mark use mutual funds?

What Are Annuities and How Do They Work?

There’s a lot of confusion out there about annuities, probably because there are different types that do different things. We’ll explain what they are and how they work.
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-25-what-are-annuities-and-how-do-they-work 
 
What we discuss on this episode: 
1:55 – Immediate annuity
3:25 – Fixed annuity
4:01 – Variable annuity
5:15 – Fixed index annuity
6:53 – Annuities Mark uses
8:03 – Using annuities to meet financial goals

Stages of Retirement Planning

This show is all about planning for retirement and making sure you’re doing it the right way so you can have the kind of retirement lifestyle you always dreamed of. Today we’ll share what the stages are.
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-24-stages-of-retirement-planning 
 
What we discuss on this episode: 
1:30 – 15 years before retirement
3:13 – 10 years before retirement
5:16 – 5 years before retirement
7:21 – The day you retire
9:45 – 5-10 years after retirement

What to Know About Taxes in Retirement

How much do you know about taxes in retirement? It’s an important topic that can make a major difference in your finances.
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-23-what-to-know-about-taxes-in-retirement 
 
What we discuss on this episode: 
1:39 – Assuming taxes will be lower
2:52 – Strategies to improve taxes down the road
4:51 – Bad tax mistakes
6:02 – A tax planning strategy that made a difference