Saving With Silverman

Are You Suffering From Pandemic Paralysis With Your Finances?

With all of the changes in the market and in the workplace lately, have you avoided making financial decisions? Are you still working toward your financial goals or are you facing a bit of pandemic paralysis?
 
Read more and get additional financial resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-7-are-you-suffering-from-pandemic-paralysis-with-your-finances 
 
Today's show schedule: 
1:10 - “The market has been so volatile; I’ll stop putting money into my 401(k).”
2:47 - “There’s no point in making a financial plan now since everything keeps changing.”
3:57 - Do you want more information about what’s happening with coronavirus and your finances?
4:47 - “I was planning to retire this year, but now I guess it’s pushed back indefinitely.”
5:55 - “I just ignore my accounts altogether.”

Traditional IRA or Roth IRA?

Do you know the difference between a traditional IRA or a Roth IRA? More importantly, do you know which one is a better fit for you and your retirement savings? We'll talk about the pros and cons of each on today's show. 
 
Read more and get additional resources here: https://silverman-associates.com/saving-with-silverman-podcast/episode-6-should-you-be-contributing-to-traditional-ira-or-roth-ira  
 
Today's show schedule: 
0:58 - What’s best, a traditional IRA or a Roth IRA?
2:54 - Why have more people contributed to traditional IRAs instead of the Roth?
3:56 - Why is a Roth IRA so powerful?
4:38 - Who should contribute to a Roth IRA?
5:13 - Who should contribute to a traditional IRA instead of a Roth?
 

Old Accounts Could Turn Into Hidden Gems

As we move through life, some things end of falling through the cracks. That happens with our finances as well because old accounts will often get forgotten about. Digging up an old 401k, life insurance policy, and other accounts can end up turning into hidden gems if you put them back to work. Let’s talk about how to do that.
 
Read more and get additional resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-5-old-accounts-could-turn-into-hidden-gems
 
Today's show rundown: 
1:12 – Finding an old 401k
2:12 – An old life insurance policy you’ve been playing on. What can you do with this?
3:31 – Savings accounts, money market, or a CD
4:33 – Changing jobs often makes you forget about old pensions. 
5:34 – How we’ll help you find these old accounts and put a plan together.

What is a Roth Conversion?

Roth conversions are becoming more and more popular as a retirement planning tool, but how much do you know about them? Today we’ll try to give you all the key information about Roth conversions so you can start determining if it’s a strategy that might work for you. 
 
Read more and get additional resources here: https://silverman-associates.com/saving-with-silverman-podcast/ep-4-what-is-a-roth-conversion     
 
Today's rundown: 
0:55 – What is a Roth conversion and why is it worth considering?
3:10 – Why might he Roth conversion be especially helpful for people with high incomes?
3:36 – Are there any common mistakes that you see people make with this?
4:10 – Who might benefit from this strategy?
5:20 – What about someone that shouldn’t do a conversion?
6:10 - What else will you discuss with clients alongside Roth conversions?

Common Mistakes People Make with Their Financial Plan

Building a financial plan can be done on your own, but there’s a much greater chance of making a mistake. Without having a professional to provide you with solutions and help you craft a strategy that fits your needs, you put yourself at risk of following bad advice or overlooking important aspects of a comprehensive retirement plan. Let’s look at four common mistakes we see investors make and what you can do to avoid them.
 
Get the show notes and additional resources here: https://silverman-associates.com/saving-with-silverman-podcast 
 
Today's show rundown: 
0:51 – The first mistake we see is people believe bonds are a completely safe investment.  
2:11 – The second mistake is not protecting yourself from long-term care needs.
3:47 – The third mistake is not protecting yourself from market decline.
5:11 – There are many tools and strategies that you can use during the planning process.
6:16 – The fourth mistake is not having a plan at all.

How Much Cash Should You Keep on Hand?

Of course, we all want a healthy bank account. Having a good amount of dollars within easy grasp is helpful in the case of emergencies or for medium-sized purchases where you don’t want to have to liquidate assets. But is it counterproductive to have too much cash on hand? We’ll explore that idea and other pressing questions about the role that cash plays in financial and retirement planning.
 
Check out the show notes and get additional resources here: https://silverman-associates.com/saving-with-silverman-podcast 
 
Today's show rundown: 
1:22 – How much cash do we generally recommend people keep on hand?
3:07 – How do you come up with total for an emergency fund?
4:23 – Why do people typically end up keeping too much money in cash?
5:28 – Here are ways you can invest more efficiently without taking on all the risk of the market.
7:18 – What we talk about with clients during that introductory 20 minute meeting.

Getting to Know Mark Silverman & the Updated Podcast

You’ve heard us on radio for a while but we’re excited to return to the world of podcasting to give you even more ways to listen and learn about financial planning. Today we’ll kick off the very first episode by getting to know more about Mark Silverman – his life, his career, and what he loves about living and working in Tuscon, Arizona.
 
Today's show rundown: 
1:32 – Let’s get to know more about the business. What does being a financial advisor mean to Mark?
2:54 – The day-to-day challenges of financial planning never get boring.
3:36 – Mark tells the story of how he got into the business.
4:10 – Gives us an idea of what financial planning looks like for your clients.
5:30 – What does Mark like most about being both an advisor and a coach?  
6:32 – Tell us one thing you really want people to know about you.
7:40 – What does Mark like most about living in Tuscon?
8:36 – What’s the last place you visited?
9:14 – Why we decided to launch the podcast and what do we hope people will learn?
11:10 – Here are some of the topics we’ll cover on the podcast.
12:13 – Who is the ideal listener for this show?

Don't Get In Your Own Way

Let’s talk about some of the common ways that people get in their own way when it comes to financial planning. Maybe some disturbing statistics will help us understand why this happens.

Landmark Ages In Retirement Planning

Let's learn about some of the landmark ages in retirement planning, as well as why life insurance might be a good fit for your needs.

It's Anyone's Guess

Most people, when trying to plan their retirement, have to guess about the answers to some important questions. Let’s talk about some of those questions and why you need to have a better answer than just a guess. To help find these answers, let's help you recognize financial jargon that some advisors might try using on you.