Saving With Silverman

Can You Afford to Live a Long Life?

As life spans continue to increase, so does the need for more money later in life. Find out how to plan financially for a long life.
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-17-can-you-afford-to-live-a-long-life 
 
What we discuss on this show: 
1:48 – Our oldest client
2:50 – Why do we talk about longevity as a risk?
4:22 – Why most people haven’t addressed the issue
5:30 – How to help someone worried about running out of money
6:48 – Our 5-step financial planning process

Answers to Common 401K Questions

Are 401K loans a good idea? What about rollovers? How much should I contribute? Get answers to these and other common 401K questions.
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-16-answers-to-common-401k-questions 
 
What we discuss on the show: 
0:40 – 401K advice from company reps
1:47 – 401K loans
2:46 – 401K rollovers
3:49 – Target date funds
4:39 – How much should I contribute?
5:54 – Roth vs. Traditional
7:06 – Contact Mark

The Importance of Tax Planning

Let’s talk about tax planning. The subject seems to get ignored by a lot of advisors. We explain why it’s an important conversation to have. 
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-15-the-importance-of-tax-planning 
 
What we discuss on the show: 
2:42 – Roth conversions
3:41 – Social security
5:00 - Required minimum distributions
5:57 – National debt
6:59 – Higher taxes are inevitable
7:52 – Get in touch with Mark

What are the Tax Consequences of Different Accounts?

Different accounts have different types of tax consequences. We’ll explain the advantages and disadvantages of the accounts and how you use them.
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-14-what-are-the-tax-consequences-of-different-accounts
 
What we discuss on this episode: 
0:49 – Tax-deferred accounts
1:53 – Tax-free accounts
2:46 – Taxable accounts
3:42 – CDs
4:21 – Life insurance
5:11 – Meet with Mark

Creating Predictable Income in Retirement

What will it take to keep up with your lifestyle and goals in retirement? Income! What are some sources of predictable retirement income and what should you do with it? Let’s explore a topic that everyone feels strongly about.
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-13-creating-predictable-income-in-retirement 
 
On today's show: 
1:12 - What retirement incomes do people assume are predictable?
2:43 - Is there really such a thing as “guaranteed income”?
3:45 - What does it look like when you rely too much on the stock market?
4:39 - What do you do with inflation?      
5:39 - How is a reliable income possible to achieve?

Everybody Just Calm Down

Maybe it’s too many months of quarantine, too much cable news or too much social media, but people have a lot of anxiety right now. Mark explains why you should just calm down.
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-12-everybody-just-calm-down 
 
On today's show: 
0:46 – Question 1: Money in the bank?
2:36 – Question 2: Money in the market?
3:51 – Question 3: Pay more for a vacation?
5:50 – Question 4: Buy gold?
6:55 – Question 5: Collect social security?

What Happens With Your Money After the Death of a Spouse?

While it’s easier to pretend you won’t have to worry about it, one day you or your spouse will pass away. What happens to your financial plan and assets when it does? 
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-11-what-happens-with-your-money-after-the-death-of-a-spouse 
 
Today's show schedule: 
0:46 - What is someone most concerned about financially after losing a spouse?
2:52 - What are the immediate challenges after one spouse passes away?
3:52 - You may have a major reduction in income.
5:47 - What does it look like to be in a bad position after a spouse dies?
7:07 - What’s an example of someone who was left in a good place financially?

Financial Vocabulary to Know During Coronavirus

Do you understand the ins and outs of these financial terms that have been circulating due to the impact of coronavirus? How might your own financial plan need to shift as a result?
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-10-financial-vocabulary-to-know-during-coronavirus
 
Today's show schedule: 
1:05 - What’s the difference between a recession and a depression?
1:56 - What is the VIX?
3:39 - Have you heard of tax loss harvesting?
5:42 - Do index funds help?
6:20 - How often should you rebalance?

Classic Pre-Retiree Mistakes

As you near retirement, you want all of your ducks in a row instead of dealing with the mess caused by these classic financial mistakes. Are you making smart decisions?    
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-9-classic-pre-retiree-mistakes 
 
Today's show schedule: 
1:02 - Investing at 59 the same way as at 39 years old.
2:14 - Starting Social Security without a plan.
4:09 - Focusing on tax prep but not tax planning.
5:30 - Assuming healthcare needs will be covered by Medicare.
6:07 - Taking on additional risk to make up for lost time.

Should You Be Wary of Dave Ramsey's Advice?

Whether you’ve heard his radio show on accident or know his baby steps by heart, you’ve probably heard of Dave Ramsey. But should you heed some of the advice he's giving? Let's take a look at some of the things he promotes. 
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-8-should-you-be-wary-of-dave-ramseys-advice
 
Today's show schedule: 
1:46 - Does Mark agree with the debt snowball?
3:57 - Should you just invest in mutual funds?
6:41 - Can you really expect a 12 percent return on your investments?
8:08 - Should you stop saving for retirement while getting out of debt?
11:59 - What does Dave Ramsey say that is good to follow?