Saving With Silverman

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

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

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?

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?

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?

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?

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.

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?

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.”

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?