Saving With Silverman

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

Mailbag: Final Expense Insurance, RMDS, And More

Welcome back to the Saving with Silverman podcast! In today’s episode, Mark is going to answer some mailbag questions sent in by listeners like you. These episodes are a great way for you to learn from real-life financial scenarios while gaining valuable insights into managing your finances effectively.
 
Here are the questions we cover in today’s show:
“Is financial expense insurance worth buying?”
“I have to start taking RMDs next year. Should I take these withdrawals in monthly installments or one big withdrawal at the end of the year?”
“How much tax should I expect to pay on my deceased mother's estate, which includes an IRA worth $150,000, a checking account with $100,000, and a house about to be sold for $350,000?”
 
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

Building Your Financial Future: Lessons From Home Renovations

Welcome back to the Saving with Silverman podcast! This week, we’re going to see what home renovation projects can teach us about the world of retirement planning.  We’ll explore insightful lessons derived from the renovation process, such as understanding the “contractor's discount” and the importance of passing financial "inspections."
 
Here’s what we discuss in today’s show:
The financial advantages of working with an RIA firm, including transparent fees and potential cost savings
Passing “inspection” in financial planning with a collaborative financial planner
The importance of specialization in financial planning and working with and advisor who prioritizes planning instead of products
 
Web:
https://silverman-associates.com/home
Email:
mark@silverman-associates.com
Phone:
520.512.8832
520.618.5323

Signs of Good Financial Health

In today’s episode, we’re going to cover some signs of good financial health. Listen in as Mark covers four essential areas that lay the foundation for a secure retirement. We’ll chat about the importance of spending less than you make, understanding the future tax implications of your savings, crafting a comprehensive retirement income plan, and more.
 
Here are the signs of good financial health that we’ll chat about:
You spend less than you make
You understand the future tax implications of your savings
Both you and your spouse both understand your retirement plan and are prepared for the unexpected
You have a written retirement income plan and peace of mind
 
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
 

Financial Questions That Are Hard To Answer

Ever wondered when the next market crash will hit? Or what healthcare costs will look like 20 years from now? Unfortunately, these are questions that none of us have a crystal ball for. So, when it comes to financial planning, how can we be best prepared for the unexpected?
 
Here are the questions that we chat about in today’s episode:
“When is the next market crash going to happen?”
“What will healthcare costs look like 20 years from now?”
“What will the tax rates be three presidents from now?”
“How long am I going to live?”
 
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 Three Worlds of Money

When you break it down to the most basic level, there are really three worlds of money that we utilize for financial planning: banking, insurance, and Wall Street. Each of these worlds has a distinct purpose and role in helping you prepare for retirement. Let’s talk about the pros and cons of each and how we use them to design a portfolio.
 
Here’s some of what we’ll discuss in this episode:
The banking world is great for savings and low risk, but it limits your opportunity for growth.  
Why we don’t look at insurance as an investment and what do we use this for.
The Wall Street world involves risk but a proper portfolio gives you the best chance for growth.
 
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