Saving With Silverman

The Detriments of Moving the Goalposts and the Importance of Planning

Can you imagine how difficult it would be for a placekicker if the goalposts suddenly shifted just as they were about to kick? In the same sense, how can we expect to achieve our financial goals if we're constantly shifting the targets? Retirement goals can obviously change with the passage of time, but there can be some serious risk when it comes to your retirement if you shift the goalposts a little bit too carelessly.
 
Here’s what we discuss in today’s show:
Setting and sticking to goals.
Not keeping more cash for your retirement than you need.
Determining how much risk you should be taking.
 
Want to get in touch with Mark? 
Web:
https://silverman-associates.com/home
Email:
mark@silverman-associates.com
Phone:
520.512.8832
520.618.5323

All About Bonds

While you’ve probably heard of bonds before, do you really have a full understanding of how they work, especially when compared to stocks? Today we’ll dive deep into the world of bonds, breaking down their complexities and offering valuable insights.
 
Here’s what we discuss in today’s show:
What are bonds, and how are they different from stocks?
Bond funds v. individual bonds.
What causes bond prices to change?
 
Want to get in touch with Mark? 
Web:
https://silverman-associates.com/home
Email:
mark@silverman-associates.com
Phone:
520.512.8832
520.618.5323

Reading Your Statements

Have you ever glanced at your financial statements and felt overwhelmed by the numbers and jargon? You're not alone. Many people receive statements from their investment accounts every month or quarter but don't fully understand what they're looking at.
 
Here’s what we discuss in today’s show:
Some of the challenges when it comes to fees.
What is cost basis and why is it important?
What’s in the fine print that you should be paying attention to?
 
Want to get in touch with Mark? 
Web:
https://silverman-associates.com/home
Email:
mark@silverman-associates.com
Phone:
520.512.8832
520.618.5323

Reading the Fine Print

It’s been said that “the sales brochure giveth and the fine print taketh away.” In the financial world, glossy brochures and enticing sales pitches often conceal ugly hidden truths.  Let’s talk about some of the things we hear from people when they don’t pay enough attention to the fine print...
 
Here’s what we discuss in today’s show:
“I just got a big rate increase on my long-term care insurance!”
“The fees in this annuity are a lot higher than I was told!”
“This mutual fund had done really well for the last several years, but it tanked as soon as I got into it!”
“My life insurance suddenly got really expensive as soon as I turned 65!”
“I want to get some money out of this REIT but they’re telling me I can’t have it back!”
 
Want to get in touch with Mark? 
Web:
https://silverman-associates.com/home
Email:
mark@silverman-associates.com
Phone:
520.512.8832
520.618.5323

Mark’s Unpopular Opinions

In the realm of personal finance, there's no shortage of advice- some of it good, some of it not so much. Being a good advisor isn’t about winning a popularity contest or just saying the same things that everyone else in the industry says. It’s about giving the best advice that you can for each individual situation.
Let’s discuss some areas where Mark’s opinions might not be popular with other people in the financial industry...
 
Here’s what we discuss in today’s show:
The appropriate amount of risk for a retiree or pre-retiree
The appropriate use of life insurance
How to handle debt
Whether or not to pay off the house
The appropriate use of annuities
The appropriate use of mutual funds
How much money to have in cash
 
Want to get in touch with Mark? 
Web:
https://silverman-associates.com/home
Email:
mark@silverman-associates.com
Phone:
520.512.8832
520.618.5323

Why Are Americans Working Longer?

A recent study revealed that 19% of Americans over the age of 65 are still working, which is twice as high as it was 30 years ago. Today, we’ll explore some of the reasons behind this statistic.
 
Here’s what we discuss in today’s show: 
Some people truly love their job
A divorce can force someone into working longer than they originally planned
Waiting for Social Security full retirement age
Some people simply haven’t saved enough
 
Want to get in touch with Mark? 
Web:
https://silverman-associates.com/home
Email:
mark@silverman-associates.com
Phone:
520.512.8832
520.618.5323
 
 

Mastering Risk: Your Path to a Smarter Financial Future

In this episode of Saving With Silverman, we delve into the nuanced world of financial risk. Join Mark Silverman, CFP® and founder of Silverman & Associates, as he unpacks the complexities of risk tolerance in investing. Whether you're a thrill-seeker in the market or prefer a more cautious approach, understanding the risk you're comfortable with is crucial to achieving your financial goals.
Mark emphasizes the importance of understanding not just how much risk you're taking, but also how much you should be taking to stay on track for your objectives. You’ll learn about the pitfalls of chasing market trends and the dangers of being misaligned with your risk tolerance. Mark's conversation is peppered with insights like 'Investments work, investors don't,' highlighting the common mistakes people make when trying to time the market.
Discover how to align your investments with your life goals in our latest podcast episode. Learn the secrets of managing risk, crafting a diversified portfolio, and ensuring your financial plan is as unique as you are. Don't leave your financial future to chance; listen today for actionable insights and take control of your wealth. Your smarter financial future awaits!
 
Here are the quotes we discuss in today’s show:
How often someone’s portfolio matches their feeling about risk.
For people who don’t know how much risk they’re taking, how can they tell?
Why so many people take unnecessary risks with their retirement money.
Is there a way to significantly reduce portfolio risk without also significantly reducing opportunities for growth?
How can someone know how much financial risk is appropriate for their situation?
 
Want to get in touch with Mark? 
Web:
https://silverman-associates.com/home
Email:
mark@silverman-associates.com
Phone:
520.512.8832
520.618.5323
 
 

Presidential Perspectives: Financial Insights From Past Presidents

We like to approach financial conversations from a creative angle here on the show. So, in today’s episode, we’re exploring the timeless wisdom of past presidents. Join Mark as he takes five famous quotes from influential figures such as George Washington and Ronald Reagan and shares how their wisdom applies to financial planning.
 
Here are the quotes we discuss in today’s show:
“When only one side of a story is heard and often repeated, the human mind becomes impressed with it.”
“Ask not what your country can do for you, ask what you can do for your country.”
“Think about every problem, every challenge we face. The solution to each starts with education.”
“Trust but verify.”
“It takes a great man to be a good listener.”
 
Want to get in touch with Mark? 
Web:
https://silverman-associates.com/home
Email:
mark@silverman-associates.com
Phone:
520.512.8832
520.618.5323
 
 

The Retirement Guessing Game

In today's uncertain financial landscape, it's easy to feel like you're rolling the dice when it comes to retirement planning. With rising costs and unexpected expenses to account for, leaving your financial future to chance isn't a risk worth taking. Join us on this episode as we dive into the importance of strategic retirement planning.
 
Here’s what we discuss in today’s show:
Understanding and planning for how much income you’ll need in retirement
Maintaining a sufficient liquid reserve to handle unforeseen costs
Accounting for the cost of inflation in your retirement plan
The escalating costs and uncertainties surrounding healthcare
 
Want to get in touch with Mark? 
Web:
https://silverman-associates.com/home
Email:
mark@silverman-associates.com
Phone:
520.512.8832
520.618.5323
 
 

Retirement Planning with Aristotle

Does retirement planning sometimes sound like Greek to you? Turns out, that's not always a bad thing. Join us as we take a step back in time and explore the timeless wisdom of Aristotle in today’s episode.
 
Here are the quotes we discuss in today’s show:
“It is the mark of an educated mind to be able to entertain a thought without accepting it.”
“Quality is not an act. It is a habit.”
"The aim of the wise is not to secure pleasure, but to avoid pain."
“Well begun is half done.”
 
Want to get in touch with Mark? 
Web:
https://silverman-associates.com/home
Email:
mark@silverman-associates.com
Phone:
520.512.8832
520.618.5323