Wealthy Habits Podcast

Are you aware that not all retirement accounts are created equal? It's crucial to understand the purpose and advantages of each type of account to make the best choice for your future. In this episode, we'll delve into the different types of retirement accounts, including 401(k)s, IRAs, Roths, and several other examples. 

We’ll help you weigh the pros and cons of each and give you insights into the purposes they serve so that you can make an informed decision. Join us and discover why understanding the purpose of these accounts is essential for securing a comfortable retirement.

Here's what we'll talk about on today's show:

• What are 401(k)s, 403(b)s, & 457 Plans? (3:58)
• What are simple IRAs and SEPs (10:14)
• What are HSAs and FSAs (15:16)

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

Are you tired of one-size-fits-all financial advice that doesn't quite fit your unique needs and goals? There are many types of personalities out there when it comes to financial matters, and we’ve found that most of our clients fall into one of the categories we’ll discuss today. In this episode, we'll tackle the question of whether an advisor should tailor a plan to fit your personality.

We'll discuss the pros and cons of different approaches and explore how understanding your financial personality can help you make more informed decisions. Whether you've been burned by your financial past, have trouble making financial decisions, or have differing views from your partner in terms of finances, we'll unpack some common obstacles and share how we cater financial plans to work around your needs.

Here's what we'll talk about on today's show:

• The victim has been burned and scarred by something in their financial past. (3:12)
• The over-analyzer has trouble making decisions about anything because they have to analyze every possible choice from every possible angle. (6:56)
• The Do-It-Yourselfer has managed his or her own money without help from an advisor for decades, and in many cases, he or she has done quite well. (11:48)

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

Are you ready for retirement? We’re willing to bet there are some future expenses that you may have forgotten to plan for. Join us as we discuss the most overlooked retirement expenses and how to prepare for them. 

If you’re preparing for retirement, we want to make sure you feel confident that you have every expense taken care of. From medical expenses to unexpected repairs, we’ll cover the commonly forgotten areas that could leave you vulnerable if you don't prepare the right way.

Here's what we'll talk about on today's show:

• Are you prepared for medical expenses? (6:45)
• Are you prepared to help your family financially? (11:11)
• Are you prepared for maintenance and repairs? (17:58)

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

Do you ever feel like your retirement planning goals are always moving? You're not alone. We’ve found that people often move the goalposts in their own retirement planning, often to their detriment. In this episode, we're diving deep into the psychology of retirement planning and the dangers of moving the goalposts. 

Whether you find yourself adding to your savings without acting towards investing or are always finding reasons to delay saving for retirement, we’ll discuss the common pitfalls that can prevent you from achieving your desired retirement outcome. Join us as we explore why constantly changing your retirement goals can be risky and how having a clear plan can help you secure a more flexible future.

On today’s show, here’s some of what you’ll learn:

• How much cash do I need? (2:46)
• I’ll get serious about my savings next year. (6:30)
• Why you need to reduce your risk. (10:20)

Listen to more of our conversation in the podcast or reach out to us to talk about your financial situation and goals.

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

It’s time for another mailbag episode! We have an exciting lineup of topics to discuss today. Listen in as we tackle some current questions from our listeners, and you’ll likely gain some invaluable insights to help you make informed financial decisions. 

This episode could be very helpful if you’re looking to improve your financial situation and prepare for retirement. We will discuss when to convert an IRA to a Roth, how to know if a financial advisor is trustworthy, and even how to pay for a rental property. You don’t want to miss this one!

On today’s show, here’s some of what you’ll learn:

• Should I convert my IRA to a Roth? (6:44)
• How do you know if a financial advisor is trustworthy? (14:15)
• How should I pay for a rental property? (17:38)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

Let’s have some fun today. We’re sharing some of our favorite quotes and how we use them regularly to help our clients with their finances. We find that these quotes are relevant for many people and most financial situations we work with. 

We are excited to share this and other nuggets of wisdom on today’s show. Stay tuned to see how you can apply these wise words in your own financial life. We think you’ll really enjoy this one!

Here are a few of the quotes we’ll highlight in today’s episode:

• “Most people don’t plan to fail. They just fail to plan.” (4:01)
• “If you’re going to run out of money during your lifetime, when do you want to find out?” (5:18)
• “Be fearful when others are greedy and be greedy when others are fearful.” (13:45)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

We took an informal poll of listeners to find out what their biggest financial fears are. In this episode, we’ll explore the most common fears and talk about how they should be addressed in a retirement plan.

Whether it’s running out of money, paying more taxes, or not having money to pass on to your kids, we all have fears about our finances. So, what's your biggest fear, and did it make our list? Stay tuned as we talk through some ways to face these fears so that you can feel more confident in your retirement plan. 

Here are some of the common financial fears we'll talk about today:

• Running out of money before you die. (8:14)
• Paying more for taxes than you need to. (13:37)
• Having to reduce your quality of life in retirement. (18:55)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

On today’s show, we’ll explain what you need to know and learn four ways the new changes might impact you. From Required Minimum Distributions (RMDs) to catch-up contributions, we’ll cover some of the key items in SECURE Act 2.0. This won’t cover everything, but this will give you a few items to consider when you meet with your advisor next.

On today’s show, here’s some of what you’ll learn:

• The Required Minimum Distribution age has been pushed back again. (3:44)
• What’s happening with the special catch-up contribution? (7:26)
• Now the 529 Plan has a Roth option. (11:27)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

It’s time for another mailbag episode, and we have some great topics to discuss. This episode could really help if you’re looking to improve your financial situation and prepare for retirement.

On today’s show, here’s some of what you’ll learn:

• Should I pay off my house or invest money and use investments to pay mortgage? (2:53)
• Should I do anything besides a 529 plan for college savings? (7:12)
• When should I withdraw from my 401k? (15:18)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783

Today we’re addressing five common beneficiary mistakes that, unfortunately, a lot of people make. From making errors to naming minors as beneficiaries, we’ll break down some common blunders.

Are you making one of these beneficiary mistakes? If so, it could cost you and your loved ones dearly. Some of the simplest mistakes can completely spoil an otherwise well-done retirement plan.

On today’s show, here’s some of what you’ll learn:

• What is the risk in naming minors as beneficiaries? (4:18)
• Why wills and beneficiary designations need to work together. (7:57)
• Why you need a secondary beneficiary. (10:19)

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: [email protected]

Phone: 877-359-8783