From the category archives:
Podcast: Play in new window | Download (Duration: 2:55 — 2.5MB)
Here is a question that I am asked often. Do I need life insurance if I'm single?
Single people with no children often don't need life insurance because no one is relying on their income. But there are some reasons why you might need life insurance if you're single.
So ask yourself these four questions and it might help you decide.
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Podcast: Play in new window | Download (Duration: 1:35 — 1.4MB)
by John Bearss, Retirement Specialist
This week I will explore Roadblock Number 7 according to Larry Barrett’s article in the Financial Planning Magazine entitled the 7 Roadblocks to Early Retirement.
Roadblock #7 – Going It Alone
An all too common retirement planning mistake is going it alone. This usually results in missed investment opportunities, sloppy planning, and lax savings schedules. Enlisting the help of a financial planner is a smart move at any age to avoid retirement planning pitfalls. A financial planner will be able to take a look at the "big picture." He or she will be able to develop a retirement savings plan unique to your current expenses and lifestyle, and most importantly, instill the necessary discipline and rigor needed to build a solid retirement nest egg.
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Podcast: Play in new window | Download (Duration: 2:10 — 1.8MB)
This week I will explore Roadblock Number 5 according to Larry Barrett’s article in the Financial Planning Magazine entitled the 7 Roadblocks to Early Retirement.
Inflation is the biggest risk to any retirement savings plan, and woe to any retiree who underestimates its effects. Inflation is the increase in the money supply, which results in a sustained increase in the price of goods and services over time. Most experts agree that retirees need to assume an annual inflation rate of 3-4%, but a good retirement plan should account for periods of high inflation as well.
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Podcast: Play in new window | Download (Duration: 1:59 — 1.7MB)
This week I will explore Roadblock Number 4 according to Larry Barrett’s article in the Financial Planning Magazine entitled the 7 Roadblocks to Early Retirement.
Roadblock #1 – Not Saving Enough, Early Enough (Listen to Roadblock #1)
Roadblock #2 – Ignoring Free Money (Listen to Roadblock #2)
Roadblock #3 – Failing to Diversify (Listen to Roadblock #3)
Roadblock #4 – Starting to Plan Too Late
One of the biggest mistakes people make is waiting until their 50s or 60s to start planning for retirement. Waiting this long typically means that more sacrifices will have to be made and sometimes these sacrifices can be hard to bear. Those in their 50s and 60s often assume that since they've been putting money into a 401(k) or other employer-sponsored retirement plan will take care of them throughout their retirement.
However, even with generous employer match and compounding, most people need more than just a 401(k) to comfortably retire. Remember, the more income streams that you can generate the better your chances will be in retirement.
If you're over 50, add the $1,000 "catch up" contribution to your retirement savings plan. If you need to, open up a new account. Take a look at how assets are allocated and talk to a financial advisor about risk and reward.
Thank you for joining me this week for your Retirement Minute.
Interested in more strategies that will help you with early retirement? Contact Retirement Specialist John Bearss by email: john@cfanetwork.org
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Podcast: Play in new window | Download (Duration: 2:14 — 1.9MB)
This week I will explore Roadblock Number 3 according to Larry Barrett’s article in the Financial Planning Magazine entitled the 7 Roadblocks to Early Retirement.
A common investment pitfall is spending far too much time trying to pick individual stocks that will increase in value. It's much more important to understand proper diversification.
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Podcast: Play in new window | Download (Duration: 2:08 — 1.8MB)
This week I will explore Roadblock Number 2 according to Larry Barrett’s article in the Financial Planning Magazine entitled the 7 Roadblocks to Early Retirement.
Many investors fail to take full advantage of their employer's contribution matching, which is just about the same as throwing away money. Anyone fortunate enough to work for a company that offers a matching contribution to a defined contribution plan (401k, 403b, etc) must take advantage up to the full amount. Regardless of the amount of the match the employer provides, the match is free money.
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Podcast: Play in new window | Download (Duration: 2:41 — 2.2MB)
If you desire to retire early, you will want to tune in to the Retirement Minute over the next several weeks. Today, I want to share with you a savings strategy that leads to early retirement.
This week I saw an interesting article in the Financial Planning Magazine written by Larry Barrett called the 7 Roadblocks to Early Retirement and I wanted to share this information with you over the next several weeks.
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Podcast: Play in new window | Download (Duration: 2:40 — 2.2MB)
Several questions arise as you near retirement concerning your life insurance needs. Should you keep that existing policy in place? If so, should you change the coverage amount? Listen to this week’s Retirement Minute to discover how to make smart decisions when it comes to your life insurance.
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Podcast: Play in new window | Download (Duration: 2:51 — 2.4MB)
Most Defined Pension Plans give you a choice of how you can take your payment when you retire. Listen to this week’s Retirement Minute to discover how to make smart decisions when it comes to your pension.
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Podcast: Play in new window | Download (Duration: 2:24 — 2.0MB)
Estate planning allows you or anyone to implement certain tools now to ensure that your concerns and goals are fulfilled after you die.
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Podcast: Play in new window | Download (Duration: 2:26 — 2.0MB)
To reduce or eliminate the taxes on your social security income, you first need to understand the term “Reportable Income.”
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Podcast: Play in new window | Download (Duration: 2:11 — 1.8MB)
We recently got this question from an FTMWeekly radio listener: “I forgot to make my IRA Contribution for tax year 2011. Is it too late to make the contribution now?” Retirement Specialist, John Bearss, has the answer in this week’s Retirement Minute.
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It is no secret that the cost of a college education continues to soar. But, by planning ahead you can determine which of several creative methods will work best for you. Some people will choose the 529 College Savings Plans that are available while others will choose using a cash value life insurance policy to help pay for these cost.
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Podcast: Play in new window | Download (Duration: 2:26 — 1.7MB)
The Medicare open enrollment period is now here and this is the time during which people with Medicare can make new choices and pick plans that work best for them. Here’s four questions to be asking now.
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Podcast: Play in new window | Download (Duration: 2:01 — 1.6MB)
Here’s three tips to reduce your taxes in 2012…
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Podcast: Play in new window | Download (Duration: 2:31 — 1.7MB)
If your Roth IRA has sustained losses as a result of the recent market downturn, you may want to consider whether it makes sense to undo your conversion. Here’s what you need to know.
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Podcast: Play in new window | Download (Duration: 25:51 — 20.2MB)
In this week’s Financial Strategy segment, we’ll be joined by Retirement Specialist, John Bearss, in a special extended interview. Jerry will discuss with John the current state of retirement. Our discussion will include some key ideas and strategies for those nearing retirement to consider.
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Podcast: Play in new window | Download (Duration: 6:43 — 7.1MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 3/26/11 To hear the entire program, click here. by John Bearss Transcript Over the last few episodes of financial strategies I have been talking about why cash value life insurance should be considered when developing a person’s overall retirement planning strategy. So today, [...]
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Podcast: Play in new window | Download (Duration: 5:15 — 5.3MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 3/12/11 To hear the entire program, click here. by John Bearss Transcript Over the last few episodes of financial strategies I have been talking about why cash value life insurance should be considered when developing a person’s overall retirement planning strategy. So today, [...]
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Podcast: Play in new window | Download (Duration: 5:48 — 5.6MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 3/5/11 To hear the entire program, click here. by John Bearss Transcript Over the last two weeks I have been talking about why cash value life insurance should be considered when developing a person’s overall retirement planning strategy. I have had many of [...]
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Podcast: Play in new window | Download (Duration: 11:25 — 8.4MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 2/5/11 To hear the entire program, click here. No Transcript Available This Week About John Bearss: John R. Bearss is a Retirement Specialist with the Christian Financial Advisor Network. He has been helping clients and financial professionals understand financial strategies for 24 years. To [...]
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Podcast: Play in new window | Download (Duration: 5:44 — 5.8MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 1/29/11 To hear the entire program, click here. by John Bearss Transcript Hi Jerry. Did you know that most people believe that they are adequately insured against disability because they think they have coverage through their employer or through the government. That’s probably [...]
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Podcast: Play in new window | Download (Duration: 6:43 — 6.9MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 1/22/11 To hear the entire program, click here. by John Bearss Transcript Hi Jerry. As we start the new year it has been exciting to see how many people are taking advantage of the Christian Financial Advisors Network. I have talked with many [...]
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Podcast: Play in new window | Download (Duration: 6:04 — 5.3MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 1/15/11 To hear the entire program, click here. by John Bearss Transcript Hi Jerry. Last week we talked about Life triggering events that could create a need for financial advice and we also talked about the importance of establishing a budget. Today we [...]
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Podcast: Play in new window | Download (Duration: 5:31 — 7.9MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 1/8/11 To hear the entire program, click here. by John Bearss Transcript Hi Jerry. I trust everyone had a wonderful and safe Christmas and New Year and as we enter twenty eleven I am excited about the opportunity to share more financial strategies [...]
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Podcast: Play in new window | Download (Duration: 6:43 — 9.3MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 12/18/10 To hear the entire program, click here. by John Bearss Transcript Hi Jerry. As we conclude our series on the basics of building a solid estate plan, I would like to remind your listeners to take the time to talk with the [...]
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Podcast: Play in new window | Download (Duration: 5:33 — 7.9MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 12/11/10 To hear the entire program, click here. by John Bearss Transcript Hi Jerry. As we continue to talk about building a solid estate plan, I would like to remind your listeners that this is a great time of year to talk to [...]
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Podcast: Play in new window | Download (Duration: 6:01 — 4.8MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 12/4/10 To hear the entire program, click here. by John Bearss Transcript Hi Jerry. Thanksgiving has come and gone and I hope you and all your listeners had a wonderful and safe time with your family and friends and remembered to thank God [...]
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Podcast: Play in new window | Download (Duration: 5:22 — 7.5MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 11/20/10 To hear the entire program, click here. by John Bearss Transcript Hi Jerry. Thanksgiving is already upon us and I pray you all will have a safe and wonderful time with your family and friends as we thank God for all the [...]
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Podcast: Play in new window | Download (Duration: 5:59 — 9.4MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 11/13/10 To hear the entire program, click here. by John Bearss Transcript Hi Jerry. Thanksgiving is already upon us and I pray you all will have a safe and wonderful time with your family and friends as we thank God for all the [...]
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Podcast: Play in new window | Download (Duration: 5:59 — 9.4MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 11/06/10 To hear the entire program, click here. by John Bearss Transcript Hi Jerry. It sure seems like this year has flown by, so I wanted to take some time and remind people of some important financial housekeeping items that they may want [...]
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Podcast: Play in new window | Download (Duration: 4:18 — 6.9MB)
An excerpt from Follow the Money Weekly Radio with Jerry Robinson – 10/30/10 To hear the entire program, click here. by John Bearss Transcript Hi Jerry. Helping people come up with enough income that will help them pay for their medical expenses is always one of the big challenges in financial planning. Today, I would [...]
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Podcast: Play in new window | Download (Duration: 4:31 — 5.2MB)
by John Bearss Transcript Hi Jerry. Today, I would like to continue focusing on one of the 5 building blocks to a good financial plan and again that is Building Block number 2 – protection of the assets that God has entrusted to us. If I were to ask you, What is your greatest asset? [...]
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Podcast: Play in new window | Download (Duration: 6:15 — 7.2MB)
by John Bearss Transcript Hi Jerry. Last week we talked about how Medicare works when dealing with long term care needs. What we discovered is that Medicare will only pay if you have first, spent at least three days in the hospital and then secondly, go to a skilled nursing facility. If you have done [...]
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Podcast: Play in new window | Download (Duration: 7:33 — 6.9MB)
by John Bearss Transcript Hi Jerry. Today, I would like to focus on one of the 5 building blocks to a good financial plan that you have been teaching for sometime now and that is Building Block number 2 – protection of the assets that God entrusted to us. Let me ask you a question, [...]
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Podcast: Play in new window | Download (Duration: 5:16 — 4.8MB)
by John Bearss Transcript Hi Jerry, as always it is a pleasure to spend time with you and your listening audience. The Bible says in I Timothy 5:8 “But if anyone does not provide for his own, and especially for those of his household, he has denied the faith and worse than an unbeliever. I [...]
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Podcast: Play in new window | Download (Duration: 9:19 — 8.5MB)
by John Bearss Transcript Jerry Robinson: John, we constantly hear from our audience that they appreciate the insights that you provide on retirement planning each week here on Follow the Money Weekly. John Bearss: Thank you Jerry for having me on your show this week and I have greatly enjoyed the opportunity to be able [...]
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Podcast: Play in new window | Download (Duration: 6:36 — 6.0MB)
by John Bearss Transcript Hi Jerry, as always it is a pleasure to spend time with you and your listening audience. This week when I met with a client that is retired, I had to explain the concept of, “If you are not financially strong, then you will not be in a position to help [...]
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Podcast: Play in new window | Download (Duration: 4:18 — 3.9MB)
by John Bearss Transcript Hi Jerry, this week I came across a very interesting article from the Associated Press written by Dan Wagner, AP Business Writer dated July 30th, 2010. The title of the article is “Bernanke financial disclosure shows no-frills plan”. Here is what he reported. By day, Federal Reserve Chairman Ben Bernanke weighs [...]
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Podcast: Play in new window | Download (Duration: 6:30 — 5.9MB)
by John Bearss Transcript Well Hi Jerry, many people have asked me whether they should convert their Traditional IRA or 401(k) to a ROTH IRA. The year 2010 presents a great opportunity for those folks who own a 401(k) plan or a traditional IRA. Most people who own a 401(k) have never asked their plan [...]
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Podcast: Play in new window | Download (Duration: 6:26 — 5.9MB)
by John Bearss Transcript Well hi Jerry. Today I would like to discuss what happens to your estate if Congress does not extend the Bush tax cuts on January 1st, 2011. Estate tax planning is very important to preserving your wealth for future generations. Estate taxes, also called inheritance or death taxes, are taxes that [...]
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