All Things Retirement

We’re back to continue our conversation on retirement planning for PSEG employees. Anthony has spent a lot of time getting familiar with these employees and is here to share valuable insights and strategies to help you make the most out of your benefits in this two-part episode.

This week, we’re going to take a look at Cardinal Wealth's Financial Planning For PSEG Employees Guide, talking through who it’s intended for, some of the best ways to utilize it, and more.

Here’s some of what we discuss in this episode:

• What employees will benefit the most from this PSEG guide + the best way to utilize it
• An overview of the PSEG benefits: Group Life Insurance, Thrift Savings Plan, medical plans, VEBA, Stock Purchase Plan + Cash Balance Plan
• Recommendations for PSEG employees that are 10-15 years from retirement
• Specific actions for employees 1 year to 6 months from retirement
• Final preparations and post-retirement actions a PSEG employees

Visit us online: https://cardinalwg.com/

Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

In today’s episode, we’re going to dive into the ins and outs of retirement planning for PSEG employees. Anthony has spent a lot of time getting familiar with these employees and is here to share valuable insights and strategies to help you make the most out of your benefits.

Here’s some of what we discuss in this episode:

• A little background on PSEG + how Anthony started helping these employees
• How can PSEG employees make the most of their retirement benefits?
• The health insurance options available for PSEG employees
• How can PSEG employees best prepare for the transition into retirement?
• Some of the unique financial planning challenges for PSEG employees + how Cardinal Wealth helps them navigate these obstacles

Visit us online: https://cardinalwg.com/

Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Are we on the brink of a retirement renaissance or stormy seas ahead? In this episode, we jump into the pressing issues of Social Security, healthcare, taxes, stock market trends, and long-term care. Whether you're an eternal optimist or cautious pessimist, this episode will equip you with perspectives to plan your retirement years with confidence as we ask the longstanding question, “Is the glass half full or half empty?”

Here’s some of what we discuss in this episode:

• Social Security: Anthony is optimistic about its future, despite funding challenges. He expects reforms to maintain its importance.
• Healthcare: Anthony is hopeful due to technological advancements and preventative care, but notes rising costs as a concern.
• Tax Rates: Anthony leans pessimistic, expecting higher taxes to address growing debt and fund social programs.
• Long-Term Care: Anthony is optimistic, foreseeing better care options for the middle class, driven by technology and quality improvements.
• Stock Market: Anthony is cautiously optimistic about the stock market's future and points out that historical trends show long-term growth in the market, despite market bubbles and uncertainties

Visit us online: https://cardinalwg.com/

Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Losing a spouse is an unimaginably tough life event, but the financial implications can add another layer of stress to the grieving process. In this episode, we delve deep into the most common financial issues faced by widows and widowers, from dealing with income gaps to navigating tax changes as a single filer.

We explore actionable strategies to address these problems, such as the importance of life insurance and the ins and outs of spousal pension continuation. This is the episode for you if you’re concerned with ensuring the financial well-being of your remaining family members and safeguarding your financial future and legacy in the face of loss.

Here are some of the highlights you’ll want to listen for:

• What we discuss with people that come in after losing a spouse and faced with taking over the finances.
• The income gap that gets created and how we can plan for that ahead of time.
• How your tax filing changes could impact how much money you’re taking home.
• The common mistakes people make when it comes to kids and grandkids.
• What Anthony thinks about a trust and using it to preserve family wealth.

Visit us online: https://cardinalwg.com/

Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

The relationship you have with a financial advisor is one of the most important you’ll have in life. They’re with you through the ups and downs of life and help bring a feeling of security to your family. It’s important to remember that you aren’t stuck with an advisor once you pick one, and change can sometimes be necessary.

In this episode, we delve into the complex and often emotionally charged process of changing financial advisors. We'll discuss the telltale signs that it's time to consider a switch, the questions to ask your current advisor, and what to look for in a new one. Join us as we demystify the transition process and equip you with the knowledge you need to make informed decisions about who is best suited to guide your financial future.

Plus, Anthony will break down an article from Yahoo! Finance that bashed the Roth. Should you think twice before investing in a Roth? We’ll get into that as well.

Read the Yahoo! Finance article here: https://finance.yahoo.com/news/lost-400k-retirement-savings-roth-174006044.html

Make sure you check out our free download that was mentioned on the show, 10 Mistakes to Avoid When Hiring an Advisor: https://cardinalwg.com/resources/downloadable-materials

Here are some of the highlights you’ll want to listen for: - Anthony reviews an article warning investors about using a Roth account.

- The difficulty of leaving an advisor after building a relationship with them.

- The number one reason why people leave an advisor is because of lack of communication.

- What questions can you ask your current advisor to help evaluate them?

- What’s most important when looking for a new advisor?

Visit us online: https://cardinalwg.com/

Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Are you nearing “retirement age?” If so, let’s explore that pivotal question you’ll soon face: Should you retire or continue working? We’ll unravel the intricacies of this decision, addressing both financial and emotional aspects, and help you find out if you’re truly ready to retire.

Here are some of the highlights you’ll want to listen for:

• Starting early to understand your financial situation and retirement goals is essential. Knowing what steps to take to improve your financial position and reduce risks can lead to greater confidence and better outcomes in retirement.
• The concept of a fixed retirement age is evolving. Some people prefer to retire early, while others enjoy their work and want to continue working past traditional retirement ages.
• People are often surprised by their financial readiness for retirement. Running comprehensive analyses and having open conversations with financial advisors can reveal that retirement might be feasible sooner than expected, even in cases where individuals feel financially unprepared.
• Taking the time to understand your financial situation, including pensions, Social Security, investments, and potential scenarios, can boost your confidence in making retirement decisions.

CNBC Article:

https://www.cnbc.com/2023/07/24/americans-have-big-number-goals-for-salary-retirement.html

Visit us online: https://cardinalwg.com/

Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Finding a trustworthy and competent financial advisor is essential for securing your financial future. After all, they play a vital role in helping you make informed decisions about your money, investments, and long-term financial goals.

Make sure you check out our free download that was mentioned on the show, 10 Mistakes to Avoid When Hiring an Advisor: https://cardinalwg.com/resources/downloadable-materials

Here are some of the highlights you’ll want to listen for:

• How much communication should you expect from your advisor?
• Why we want to understand the individual and work backwards to identify the best products and investments.
• There’s a time and place for an advisor to lead the conversation but listening needs to be one of their strong suits.
• You shouldn’t have to pay a single dollar before you fully understand what an advisor is going to do for you.

Visit us online: https://cardinalwg.com/

Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Whether you’re close to retirement or still far from that exciting date, it’s not uncommon to wonder when you should start preparing for each aspect of it.

From figuring out the right time to be debt-free and when to adjust your portfolio risk, to deciding when to plan for your Social Security benefits or healthcare coverage, this episode guides you through the ideal timeline for each.

Tune in to find out how far away from retirement you should have answers to these pressing questions.

Here’s some of what we’ll discuss in this episode:

• When do you need to get your debt paid off? (3:00)
• If you feel like you’re falling behind with savings, how do you figure out what you need to do to catch up? (6:23)
• When should you worry about structuring your income plan for retirement? (10:06)
• Does your risk align with your age? (14:58)
• When do you need to start planning for rising taxes? (18:33)

Visit us online: https://cardinalwg.com/

Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

The key to any relationship is good communication and it’s no different for a financial advisor and their client. Everything we do relies on being able to effectively convey information and clearly lay out a plan that everyone understands.

To celebrate June being effective communication month, we wanted to talk about our process for communicating with clients and how that’s changed since we first got into the financial profession more than 15 years ago. With more and more people moving to virtual communication, it changes our approach and we’ll tell you how we try to meet people where they’re most comfortable.

Here’s some of what we’ll discuss in this episode:

• How important communication is for what we do every day. (3:46)
• How much communication has changed over the past 15 years. (5:18)
• The way we present complex topics to clients in a way they can understand. (10:33)
• What type of communication types do we rely on the most? (8:52)
• How much communication should you expect from your advisor? (16:09)

Visit us online: https://cardinalwg.com/

Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment

Many people have heard about protests in France and that it’s related to raising the retirement age. But not many folks have a lot of context on the issue beyond that. With their retirement age moving from 62 to 64, what might that mean for Americans in the future?

Here’s some of what we’ll discuss in this episode:

• The racoon issue Anthony has been dealing with at home. (1:02)
• Some background on what’s happening in France. (3:29)
• Declining birth rates one of the reasons why the math isn’t working like it used to. (5:33)
• How will Americans react to a change in retirement age?  (8:52)
• What can clients do to plan for possible changes to Social Security? (11:29)
• Mailbag question on cutting off children financially. (15:44)

Visit us online: https://cardinalwg.com/

Start the Cardinal Success Journey with your free assessment here: https://cardinalwg.com/free-assessment