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Flex and the City - Great leadership in financial servicesFlex and The City with David Sarfas - Episode 71I'm thrilled to share our latest episode of Flex and the City, where I had the privilege of speaking with David Sarfas, The Managing Director at CSC. đď¸ â¨Â In this episode, David Sarfas, Co-Head of Global Funds and UK Country Head at CSC, shares his thoughts on the future of financial services. He emphasises that if the industry wants to win gold, it must focus on increasing transparency, safety, and securityânot just for its clients but for the public as a whole. đź đŻÂ In this episode, David also opens up about:đ Navigating a global career in fi...
2024-09-2519 min
Excel in RetirementHow To Prepare For Retirement Ep. 123People come to us for financial planning at different stages of life. Most of our clients are closing in on retirement or theyâre in retirement, but that can be a 10- to 15-year window of when people generally become a client of our firm. Iâve gotten a birdâs-eye view into what works well and what doesnât.We normally recommend that people begin working on their financial plans for retirement when they are five years out from retirement. It makes sense to begin making the transition from an accumulation stage to an income and distribu...
2024-07-2410 minExcel in RetirementHow to Make Wise Financial Decisions Ep. 122David starts out with a story about his recent vacation to Hilton Head Island with his family. Then he gets into some practical steps that can help you make good decisions. Today, I have a few practical things that sometime inhibit us from making the best decisions. When it comes to personal finances this is super applicable because we need to get our financial planning right!I just finished reading a book called The Richest Man Who Ever Lived. Itâs about King Solomon, who the Bible says is the wisest person to live and he...
2024-07-1014 minExcel in RetirementCan Your Advisor Do This? Ep 121Another unique position we have as a company is to be able to offer solutions larger corporatized offices often do not have the ability to do. We all know the bigger things tend to get, the slower they are to innovate. Maybe itâs the bureaucracy or protocols or hierarchies, but whatever it is, when we have to deal with it itâs normally painful.As an independent financial advisory firm, we donât have layers and layers of corporate executives dictating the advice we can offer our clients. I believe this allows our clients to have soluti...
2024-07-0312 minExcel in RetirementIs the Stock Market Too Smooth? Ep. 120Connect with David at hello@clientsexcel.com or call 864.641.7955. Marty and Jess Ansen loved going on cruises so much they opted to cruise indefinitely. I came across an article that said, A retired couple have been living on back-to-back cruises for two years, and claim it's 'cheaper' than if they stayed in a nursing home in their retirement years. Hopefully youâre not feeling our inflation problem quite that much. I donât know about you, but that would be too long a boat for me. Although, Iâve never gone a cruise. Do you think y...
2024-06-2610 minExcel in RetirementDo You Need To Change Financial Advisors? Ep. 118David tells a funny story about having mice. Here is the link to the newsletter he mentioned. Excerpt from the show: The hurdle that some people have is taking the next step. They reached out for help, issues have been identified, a plan of action to better the circumstances has been presented, but we sometimes worry about what comes next.Iâll tell you, it took hours to get the garage in order and the better part of a day. But the results are worthwhile. Moving on from an old advisor who isnât helping you...
2024-06-1209 minExcel in RetirementIncome Money in Retirement: In the Market or Out? Ep. 103If youâre watching the news this week you may have seen the wild swings in the market. If one thing is certain itâs that we need to know that when weâre in the market, we may lose money. The market has been generous for over a decade due to easy money policies like ultralow interest rates and government bond buying.The market tends to be forward looking and price events before they have happened, but the government has done a lousy job forecasting the impact of inflation. Government officials thought inflation would be âtransitoryâ last year...
2022-06-1509 minExcel in RetirementThe Ideal Time To Retire Ep. 102On The Podcast This WeekDoug, our new support staff member, joins David on the podcast this week. Doug and David talk about the ideal time to retire. Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. T...
2022-05-2815 minExcel in RetirementAn Alternative to the S&P 500 Volatility Ep. 98Shortly after the turn of the century a doctor named Gordon Lithgow in the UK coined a new term. Seeking to distinguish between the years we are healthy and functional and our actual lifespan he began using the word âhealthspan.âDr. Peter Attia defines longevity using two things. He says lifespan is how long we live and healthspan is how well we live. Within healthspan he states there are three dimensions. There is the cognitive dimension, the physical dimension or your ability to carry out activities of daily living, and the third is our emotional dimension, which he a...
2022-04-2718 minExcel in RetirementHow Making Sure Things Are Correct May Be Life Changing Ep. 90The rout in the markets continues. According to the Monday edition of the Morning Brew newsletter, the Nasdaq is down over thirteen percent, the S&P is down nearly nine percent, and the Dow is down six percent this year.Ongoing expectation that the government will increase interest rates soon and end the bond purchasing program it started during 2020 is part of the reason for the pullback.The government recently released the inflation numbers and stated that inflation was seven percent last year. Suddenly, the hundred-dollar bill you have in the bank is worth ninety-three...
2022-02-2311 minExcel in RetirementHow To Hedge Your Portfolio Ep 89Over the weekend I read an article from advisor David Nicholas, and in the article, he described the power of hedging. The idea behind this concept is that as your portfolio gains interest, you begin taking some of the gains off the table. You then invest those gains in things that are hedged from losses.Hereâs an example of how this works. Forbes states that the S&P 500 gained 26.9% in 2021. Clearly, a great year for the market. If you had a portfolio of one million do...
2022-02-1612 minExcel in RetirementBonds & Interest Rates! What's Going on? Ep. 88Many of us are seeing these shocking inflationary prices in our everyday life, and the government is cognizant of it. Interest rates have been very low for a very long time, and the Federal Reserve has not had much success increasing them in recent years. It normally causes volatility, which is what investors donât like.The market prices in events before they happen. Thatâs why the government has been talking about raising rates since last year. Now weâre closing in on the projected date to begin rate increases and investors are nervous.But he...
2022-02-0911 minExcel in RetirementVolatile Markets Allow Your Advisor To Shine Ep. 87Volatile markets like we are having this year remind me why I became an advisor. When things go south and get difficult is where value is seen. Itâs a great feeling when we are able to communicate to our clients that they will be okay. With our process, we help our clients develop a plan to weather rocky times like these.The Washington Post put it this way. Click the link to read. We have the perfect storm brewing with a possible Russian conflict and the expectation of rising interest rates. Last week, the Fed...
2022-02-0208 minExcel in RetirementWill a Recession Happen This Year Ep 86The markets have been wild so far this year. On Monday, the market was trading down most of the day and at some points it was down a thousand points. But then at the end of trading the market bounced back. Expect more volatility.In 2021, the economy experienced record growth. According to the LA Times, the stock market saw 68 record highs. But the burner may have turned on a little too hot and now our proverbial dinner is getting burned by inflation. When our money buys less product, everybody feels it.When overheating happens, it...
2022-01-2612 minExcel in RetirementHow Long-Term Care Insurance Normally Works Ep. 85Did you also know that the age of those requiring long-term care is actually decreasing? The stats shared in this newsletter are taken from Genworth.In 2010, 81% of care recipients were 65 or older. In 2018, 57% of care recipients were 65 or older. So, younger people are needing long-term care.Remember, that Medicare will only pay 100% of the cost at a skilled nursing facility for 20 days. Also noteworthy, 21% of people require long-term care after an accident.The need for knowledge about this subject is only going to increase. By 2030, one billion people worldwide will be over 65. And...
2022-01-1917 minExcel in RetirementDoes Your Financial Plan Need a 1% Change? Ep. 84One of the speakers at the conference referenced a famous quote by author John Maxwell. Maxwell once said, "When you find your why, youâll find your way.âThink about it. When I know why Iâm doing something, I can do more of it. For example, when I register to run a three-mile race, itâs easier to put in the training miles, because I know why Iâm making myself endure the difficulty of getting in shape. Before we do anything, itâs important to ask why we are doing what weâre doing.The book ill...
2022-01-1211 minExcel in RetirementAre You Ready To Strive? Ep. 83Something Iâve learned is to set achievable goals. It's deflating to make a huge goal, then figure out weeks or months later that the goal is unrealistic. Iâve started making yearly goals that are going to be a stretch, but I believe I can accomplish them. This creates motivation for the next year, because when you have had success it creates positive momentum for the next year. And it allows me to have occasion to celebrate my accomplishments.Toward the end of 2020, the Wall Street Journal had an article that I wrote...
2022-01-0510 minExcel in RetirementIs The Market About To Crash? Ep. 82Jim Stack said, âThe parallels we have today are historically very, very concerning. The current froth is the icing on the cake, and when you look through it, you see a lot of other underlying issues.â The article began by saying, âDespite a steep 30% market correction last year, the longest bull market on record has helped the S&P 500 surge nearly 300% over the past ten yearsâroughly in line with the growth in the ten years preceding the dotâcom crash in 2000, after which stocks plunged 40% over two years.â A risk factor is how the government will...
2021-12-2916 minExcel in RetirementThousand Stocks Underperforming Episode 81Bloomberg ran an article this week that stated, âOne of the interesting aspects of the brief selloff in stocks in late November was that breadth deteriorated markedly. The broad indexes were only down a few percentage points, but there were more than a thousand stocks making 52-week lows on a daily basis.â So, large indexes were only down a little, but over thousand stocks were the lowest theyâve been in a year. Big companies like Apple and Facebook and Microsoft help lessen the impact of the smaller companies losing.The article continues to explain that ne...
2021-12-2214 minExcel in RetirementThe Power of Small Changes Episode 80...One of the thoughts I had as I cleaned the leaves up was that there is power is in doing small things in small sessions. Often, the hardest thing to do is the first thing, but when I practice doing a little every day, it results in accomplishments.James Clear, a popular author, adapted the famous quote about how Rome was built when he said, âRome wasnât built in a day, but they were laying bricks every hour. You donât have to build everything you want today, just lay a brick.â What bricks are you laying t...
2021-12-1510 minExcel in RetirementA Diversified Approach Is Normally Suitable Episode 79Charlie Munger is a 97-year-old billionaire and the vice-chairman of Berkshire Hathaway. You may recall Munger and Warren Buffett are primary controllers of Berkshire, and theyâve obviously both been around for a long time.Munger was recently interviewed and stated that the stock market today is âcrazier than the dotcom boom.âFrom the article, âHe said many companies were now trading on the US share market at prices that represented 35 times earnings â making it much harder for ordinary investors to make money on the market. It is hard to get results which could be called nor...
2021-12-0810 minExcel in RetirementControl What You Can Control Episode 78Sometimes half the battle is deciding beforehand how weâre going to react. We live in a sensationalized world where as soon as we look at our smart phone or TV, someone is trying to outrage, anger, or frustrate us.The âoutrage economyâ has flourished in the last decade. It works though, right? Negativity sells and keeps eyeballs coming back. A couple of weeks, I told you about going fly-fishing for the first time. Click here to read about it. We went with a guide who had all the equipment, so we just had to s...
2021-12-0108 minExcel in RetirementAlternative Exposure with REIT ETFs Episode 77Have You Ever Considered An Allocation That Isnât Completely Market TiedHave you heard how real estate has been doing? If youâre like some people you may be tempted to buy property or a rental. That comes with a set of obligations that may be lengthy. Did you know there is another way to have exposure to real estate in your portfolio without owning real estate outright?Traditionally, this has been done by owning a Real Estate Investment Trust (REIT). Hold on though, because REITs come with detai...
2021-11-2409 minExcel in RetirementWhat You Need To Know About Required Minimum Distributions From 401ks Episode 76Do You Have An IRA or 401k?We always get questions about Required Minimum Distributions (RMDs) especially as we get close to the end of the year. So, letâs take a look at what you need to know.Please remember, before making any tax decisions, it may be appropriate to speak with a qualified tax preparer about your situation.So, what is an RMD?We make a deal with the government when we begin saving money in tax-deferred accounts like an IRA, 401k or 403b....
2021-11-1714 minExcel in RetirementWhere The Market Is NOW Episode 75It feels like we're sliding into the end of the year on two wheels, so if you're uncertain where the economy is hopefully the content below will provide you with clarity. The third quarter saw records in the markets, but weâve had pervasive growth concerns. Some pundits predicted double digit growth, but GDP in the third quarter was 6.4%. Not bad, but it wasnât what most analysts were expecting. So, where are we now that we are about halfway through the fourth quarter?Democrats in Congress finally got a $1.75 trillion infrastructure spending bill passed to gi...
2021-11-1016 minExcel in RetirementIf It Has Our Name, It Ought To Be Better Episode 74Certain people tend to play large roles in shaping our beliefs and who we become. Jerry Falwell, Sr. was one of those people for me. He's passed away now, but I want to share a few of his insights, how he thought, and his vision.  His philosophy created a legacy that is still impacting people 14 years after his death because he focused on excellence. Hereâs a link to his autobiography.Our philosophy is, âif itâs Clients Excel, then it ought to be better.â The natural question becomes, "then how do we do that?" Iâll share...
2021-11-0311 minExcel in RetirementUninvested In Cash? Here's What It Cost. Show 73Â But over the last year, something new has started to develop, and I want to share with you how it may be costing some people thousands.We are told financial sentiment is driven by two main factors: greed or fear. Itâs our basic instincts.People tend to lean toward fear or greed, but an appropriate tone is a combination of knowing when to take risks and when to be more cautious and then developing rules for how you are invested. If you donât have rules established beforehand, youâre just going by feelings, which i...
2021-10-2713 minExcel in RetirementTech Stocks Weigh Heavy On The S&P 500 Show 72When referring to the stock market, many people equate the S&P 500 as the market. The S&P 500 is an index of 500 large companies, but did you know the largest companies make up a larger percentage of the index? Apple, Amazon, Facebook, Google, and Microsoft account for 22% of the entire index. What do they all have in common? They are technology companies. The bottom 250 or smallest companies comprise just 10% of the index. The point being is the technology companies are critical to how the index performs. The S&P 500 has more than doubled in the la...
2021-10-2009 minExcel in RetirementPandemic Created Investing Gamblers? Show 71Recently, I was approached by the missionâs pastor at our church about a vision for a mural in downtown Spartanburg. Jason sent over a picture of what it would look like, and he explained that the purpose was to give the community a visually appealing piece of art that would could remind people of the hope we have in Jesus.Jason envisioned it to be a place where people could come to pray and be reminded that no matter how bad it gets; we have an eternal hope if we have trusted Jesus as our Savior. Ou...
2021-10-1317 minExcel in RetirementThe Steps To Determine If You Can Retire Show 70Hereâs a quick guide on how to determine if you can retire. Some of our clients come to us when they are approaching retirement, and they're trying to figure out things like:How should I elect to take Social Security?Do I have enough money to retire?How should I draw my money down or use it?What will my health insurance cost be in retirement?What options do I have for long-term care? Iâll briefly break down each of those concerns and tell you how we go about answering these important questions. The fi...
2021-10-0616 minExcel in Retirement20% Drop In the Stock Market Show 69Michael Wilson (pictured below) is a strategist for Morgan Stanley. His firm is calling for a twenty percent drop in the near term for the market. âHe sees earnings revisions from American corporations âand higher frequency macro data pointing to a decelerating economy, amid demand pull forward, supply chain issues and margin pressure; which he forecasts could lead to a 20% drop, a near-term outcome, in a research note dated Sept. 20th.âSpeculation may conclude that the bear market could turn out to be worse. We never hope for this, because most all investors are negatively impacted by a down...
2021-09-2912 minExcel in RetirementWill The Stock Market Bounce Back? Show 68While September is great for apples, it is turning out to be a rough month for the stock market, and the culprit is multi-faceted. Itâs easier on the mind when we can point to one thing thatâs causing a disruption, but this time weâre not that fortunate. Over in China, a large property development company called Evergrande is on the verge of default, and from my research, their overuse of leverage is a major contributor. The company agreed to the use of highly speculative development projects and in recent years ventured into business sectors outside...
2021-09-2213 minExcel in RetirementIs The Stock Market In Trouble? Show 67In news thatâll make you do a double take, the Wall Street Journal reported last week that Robert Kaplan, a guy who sits on the board of the Federal Reserve, made multiple million-dollar-plus stock trades in 2020.The Federal Reserve is a group of non-elected regulators who help determine what our interest rates will be, and whether the government should create currency to buy government bonds to stimulate the economy.The officials like Kaplan are required to file public disclosures, and his fillings indicate that his trading represented at least $27 million. This is nothing out of...
2021-09-1515 minExcel in RetirementWhat NOT To Do When Things Aren't Going Our Way Show 66On Labor Day I ran the Reedy River 10k with my buddy Greg. Iâm glad I committed to run it because I was dreading it! Itâs hard to back out when youâve told somebody youâll be there. When we registered, the form asked what we anticipated our completion time to be, and I must have been thinking I could fly.We were placed in the first heat to take off, and after about a thousand yards, I was thinking there was no way I would be able to maintain this pace. So, for the next...
2021-09-0811 minExcel in RetirementHere's What To Do When You Fail Show 65At our church, we sing a song called The Fatherâs House. Itâs a moving song about failure. It starts, âSometimes on this journey, I get lost in my mistakes. What looks to me like weakness is a canvas for your strength. And my story isnât over, my storyâs just begun. Failure wonât define me âcause thatâs what my Father does. Yeah, failure wonât define me âcause thatâs what my Father does.â Cory Asbury, the song writer is pictured below. Sometimes we get stuck in the past. But as Zig Ziglar used to say, âReme...
2021-09-0108 minExcel in RetirementStock Market Crash - How To Make It Through It Show 64This concept relates to our finances, in that risk isnât inherently bad. Taking that risk in a breakaway isnât inherently bad, but it wasnât for me. Assuming too much risk may not allow us to stay in the fight to see another day. Incorporating a plan that has the capacity for adjustments is essential. Morgan Housel writes in The Psychology of Money, â⌠Room for error is underappreciated and misunderstood. Itâs often viewed as a conservative hedge, used by those who donât want to take much risk or arenât confident in their views. But when u...
2021-08-2511 minExcel in RetirementWhat Will the Delta Variant or Afghanistan Debacle Do To Your Retirement? Show 63Last week, the stock market continued its wild streak and continued setting records. While Investing.com had a headline that Consumer Sentiment in U.S. Plunges to Lowest Since 2011. The data was based on a Bloomberg survey.From the article, âConsumers have correctly reasoned that the economyâs performance will be diminished over the next several months, but the extraordinary surge in negative economic assessments also reflects an emotional response, mainly from dashed hopes that the pandemic would soon end,â Richard Curtin, director of the survey, said in the report.âThe government, in an attempt to keep...
2021-08-1811 minExcel in RetirementAre You Fishing For Financial Advice? Show 62Sometimes I feel like Iâm a researcher more than anything else. People come to me with big problems and I want to be the best possible resource I can be. Iâm always listening to podcasts or buying another book to learn. And over the last few years, Iâve begun buying courses about specific topicsIn a recent course, they made a distinction between âriches and wealth.â We tend to think about them as synonymous, or at least I did until I heard the differenceRiches can be income thatâs only generated once, or isn...
2021-08-1109 minExcel in RetirementWho Are You Getting Financial Advice From? Show 61Following along can be a trap and cause us heartache if weâre not wise about who weâre taking our cues from. The Bible states that Solomon is the most wealthy person to have ever lived.In todayâs dollars some estimate Solomon would have a net worth of $1.2 trillion. For comparison, Jeff Bezos, who was the wealthiest person in the world up until last week when Amazonâs share price fell, is worth $192 billion. Solomon had over six times as much money has Bezos. God appears to King Solomon and tells him to ask for a...
2021-08-0411 minExcel in RetirementDow Hits Another Record Show 60A Market Watch article describing the chart said, âIf you have a 401(k) and youâre of a nervous disposition, you probably donât want to look at the chart.Even by the standards of GMO, the super-cautious money management firm in Boston best known for its famous co-founder Jeremy Grantham, say 'itâs terrifying.'âYouâd never know such dire forecast exists if you only check your portfolio balance. For perspective; around last year this time the Dow was trading around 26,000 points. Ten years ago, the Dow was trading around 14,000 points. Thatâs about a 60% gr...
2021-07-2815 minExcel in RetirementInflation Is Here. Are You Ready? Show 59Inflation simply defined is when our money buys less than it used to buy. Conventional wisdom says we need equity exposure to keep up with inflation, and I donât disagree in principle. But where it gets tricky is when we have an over exposure to stock market investments and a correction happens. A down stock market portfolio plus biting inflation is like a one-two punch to knock you out. Some people will have a hard time getting back in the fight after that.This is why we recommend having a safety net of investments that cannot lo...
2021-07-2116 minExcel in RetirementAn Alternative to Buy and Hold Investing Show 58In the 1950s, economist Harry Markowitz developed a "Modern Portfolio Theory." His theory aims to maximize returns for a given level of risks. Out of this theory was birthed the idea of buying equities or stocks and holding them. Markowitz won a Nobel Peace Prize for his research.Warren Buffett came along and popularized this style of investing, but then a hedge fund manager named Ray Dalio thought we could track data and do better than buying and holding investments. Many people are stuck investing the way people did seventy years ago, but things have changed. Dalio...
2021-07-1414 minExcel in RetirementWhat One Economist Predicts Show 57In this show David goes over how to adjust our goals and aspiration halfway through the year. He tells an engaging story about kayaking down the James River. Then he discusses a recent interview with economist Gary Shilling. Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and c...
2021-07-0715 minExcel in RetirementInterest Rates UP What Happens Show 56Itâs so predictable. Itâs so hard to start again. Everything inside me doesnât want to start the process again. I told you a while back I got busy and quit running. I needed to start back. I feel better, my mood is better, and my clothes fit better!After a few days of running, something magical happens. It happens with most forms of exercising. The pain and agony shift to enjoyment and with running it typically means I start running faster and my body feels more comfortable.If you are ever in need i...
2021-06-3014 minExcel in RetirementIs a Financial Storm Coming? What to do. Show 55Even when the weatherman tells us a bad storm is coming there always seems to be an element of surprise when the storm arrives. Itâs almost like we didnât believe the meteorologist would get it right this time. Sometimes we poke fun of people who werenât prepared and got drenched in a downpour or sometimes we truly emphasize with people when a tornado uproots a hundred-year-old tree in their front yard like weâve seen recently in Spartanburg.The last thing you want to happen is for you to get a caught in a fina...
2021-06-2312 minExcel in RetirementYou Don't Have To Fear a Market Crash Show 54Iâve interacted with countless people who are always looking over their back, waiting for something bad to happen to their 401k. They fear a stock market downturn, Congress increasing taxes, or future healthcare expenses. What people are searching to know is, âAm I going to be, okay?â Unfortunately, some people live with these nagging thoughts, but they donât have to. There are strategies to mitigate the risk of market downturns, our rising tax rate environment, and even long-term care expenses. We address each of these with our clients. Our goals is not to provide a financial...
2021-06-1610 minExcel in RetirementWhen To Retire, A Logical Approach Show 53A logical way to determine if we can afford to retire, or if now is the right time, is to figure what your expenses are per month.Conventional wisdom is you want to be able to replace 70% to 80% of your current income in retirement or as close to 70% as possible. So, how do we go about projecting how much income we can draw from our savings? With stock market investments, we can look at reports that indicate what has happened in the past.However, what the future holds may not be similar to w...
2021-06-0912 minExcel in RetirementHow To Create Investing Efficiency Show 52Many people have experienced amazing stock market returns over the last decade. It becomes addictive. A lot like always becoming more competitive on the bicycle, but life changes. Our circumstances change and we need to change our mentality. Ten years ago, you were younger and may have still been working. You could afford to have more risky allocations, but when you are retired, youâre typically no longer categorized as a long-term investor. You may need your money sooner rather than later. It makes sense to begin taking some risk out of your equation if you canât wait for...
2021-06-0213 minExcel in RetirementWill Inflationary Pressure Go Away Show 51The government has also been providing liquidity to the economy by buying billions of dollars of government bonds per month. I believe this is adding to the inflationary pressure. The Federal Reserve is faced with a challenging dilemma.Does the Federal Reserve attempt to raise interest rates? Or does it continue to allow inflationary pressure to mount? If rates go up that may cause major gyrations in the stock market, and lending may decrease. If people arenât buying homes or cars or boats as much thatâs means manufactures may lay people off. And one of the...
2021-05-2612 minExcel in RetirementHow a 96-year-old found purpose Show 50The Washington Post recently ran an article titled 95-year-old might have found the key to longevity: A purposeful life.The article described how Olga Murray, who is 96, has flourished despite the COVID lockdowns and how she has found meaning in her life. She lives a life of gratitude for the vitality she has. The article states she will commonly tell people âI feel so fortunate. You canât imagine.â Itâs amazing that thankfulness attracts blessings in our lives.While her mother lived to be 98, Olga has done her part by eating healthy and working out thre...
2021-05-1911 minExcel in RetirementDefined Outcome Buffered ETFs Show 49In 2018, Innovator Capital Management, a financial product creator, developed an investing strategy called âdefined outcomeâ exchange-traded funds (ETFs). Today there are several billion dollars invested in their strategies.Historically, when weâve put money in market, weâve not been able to determine what our outcome will be, but often commentators or advisors will discuss past performance of investments.What defined outcome ETFs do is allow the investor a level of certainty thatâs not normally found in stock market investments. The investor has exposure to broad market indexes like the S&P, Russell, or emerging m...
2021-05-0512 minExcel in RetirementWhen Money Doesn't Matter Show 48Sometimes saving money doesnât matter...Most of us for a period of time dutifully arose out of our comfortable beds each morning to go to work to earn money. While work should be meaningful and purposeful, we realize that if we werenât getting paid, weâd have issues.We are engineered from a young age to understand that money is essential. In fact, Iâm trying to teach my three year-old daughter this lesson now. Weâve raised chickens for the last four years. Since she was able to walk, sheâs enjoyed hel...
2021-04-2810 minExcel in RetirementBuffett Indicator At An Alarming Ratio Show 47Warren Buffett, the famous stock market investor and billionaire, developed a stock market indicator that came to be known as the âBuffett Indicator.âFrom Carmen Ang a writer at the website Visual Capitalist said, âThis ratio, now commonly known as the Buffett Indicator, compares the size of the stock market to that of the economy. A high ratio indicates an overvalued marketâand as of February 11, 2021, the ratio has reached all-time highs, indicating that the U.S. stock market is currently strongly overvalued.â How this ratio is calculated is by dividing the value of the stock marke...
2021-04-2111 minExcel in RetirementBitcoin Up Over 107% YTD Show 46Bitcoin is up 107.27% this year according the Morning Brew newsletter on Monday. Iâm frequently asked about cryptocurrency and what I think about it. Iâll briefly share what it is and what I think about in this show.If youâve thought about bitcoin or considered buying it was probably because somebody you knew bought bitcoin. Cryptocurrency holders tend to be raving evangelist for it. It inspires enthusiasm. Â Recently, I read a Kiplinger article titled What to Make of Bitcoin. The article states that major companies have been announcing that they are buying...
2021-04-1413 minExcel in RetirementAn Investor Pitfall Show 45This show begins with a confession. You may have heard before that âConfession is good for the soul.â Well, I have a confession. Historically, Iâve been a curmudgeon when it comes to holidays. It started sometime in adolescence. I continue this story before jumping into a recent study. Dalbar is a large financial services market research firm and creates reports on investor behavior. For the last 27 years they have released a yearly study titled âQuantitative Analysis of Investor Behavior (QAIB).âFrom the report, âQAIB has measured the effects of investor decisions to buy, sell, and switch in...
2021-04-0712 minExcel in Retirement"Get Your Life Back" Book Review Show 44I make it a point to read every day. Someone once said, âYou will be the same person in five years as you are today except for the people you meet and the books you read.â Reading is important for a myriad of reasons.Sometimes something really cool happens: I run across a book and it teaches me ideas that are life changing. I want to share a book like that with you and offer to send you complimentary copy. A friend and I were having coffee in January and he recommended that I read a rec...
2021-03-3113 min
Flex and the City - Great leadership in financial servicesDavid Bower for Flex and the City Episode 25Today, we interview David Bower, Global Head of Institutional Sales at FE Fundinfo.David is a man of great integrity, he grows the potential in others. He is Leader as a Coach.David brings enormous energy, positivity and optimism to the financial services industry and explains why purpose and a sustainable growth mindset is critical for the investment industry, as told by a farmer's son! I love talking to great leaders and exploring their different styles, the way in which they connect with the troops and the way in which they engage in conversation.Â
2021-03-2529 minExcel in RetirementWaiting To Prepare For Retirement? Podcast 43A challenge Iâve seen people face is figuring out how to begin transitioning their finances for retirement. This may be especially difficult for some people because of the stock marketâs upward momentum. Itâs hard to know when enough is enough or how to scale back your portfolio risk level when times are good in the market.As bonds have increasingly paid less and less, this becomes even more problematic because weâre seeing portfolios completely constructed with equities. What that means is when a market correction happens, you may be impacted. What will that mean for...
2021-03-2411 minExcel in RetirementIs the 1999 Tech Bubble Happening Again? Show 42One the asset managers we use recently released his market commentary. His name is Geremy van Arkel, and heâs a Chartered Financial Analyst with Frontier Asset Management. He states in his writing, âThere are so many similarities between what is happening now and what took place in 1999 that is uncanny.âGeremy continued, âFirst off, 1999 occurred following a long and extended bull market. Ten years into that bull market, the obvious leaders of the day were known, and investors couldnât get enough of them. This created a very narrow investment market environment â much like that of today with F...
2021-03-1715 minExcel in RetirementIs the Stock Market in Bubble Territory? Show 41In this show, David begins by telling a story about his daughter's first dentist appointment. He demonstrates what working with our financial planning firm is like. And he finishes the show by talking about a recent article that discuss the current financial bubble economy. From our weekly newsletter, "Do you remember the first time you went to the dentist? My three-year-old daughter, Amelia, had her first dentist appointment last week. Mallory and I tried to coach her on what to expect, because when Iâm going into a new situation my anxiety tends to spike. I ge...
2021-03-1015 minExcel in RetirementMarket commentators are growing leery Show 40Now is the time to have a plan in place. The market is hitting highs for no explainable reason, Congress is promising $1,400 stimulus checks, and we have ultra-low interest rates. Market commentators are growing increasingly leery of how this may turn out.Tom Siomades heads the investment division of AE Wealth Management. In a recent letter he wrote, âNow we have a $1.9 trillion stimulus moving through Congress that is meant to address and redress many of the problems those policy mistakes and shifting priorities created. It will also take years to pay out and increase the size of...
2021-03-0314 minExcel in RetirementAre You In A Perfect Storm Show 39Did you see the movie the Perfect Storm? I remember watching it in the movie theater. A crew on a ship are stuck out in the ocean when two major storms come together to form a âperfect storm.â The look of horror on George Clooney's and Mark Wahlbergâs faces told it all.At one point in the movie huge waves are collapsing on the vessel from both sides. Seeing it on a big screen makes a scene come to life. It was like I was right there as the two storms collided. Did you realize that two ar...
2021-02-2410 minExcel in RetirementFiduciary Investment Advisors, Who Are They? Show 38In financial services thereâs confusion around what a âfiduciaryâ is. Iâll explain what a fiduciary is here without all the jargon. The definition was first placed into law a few years after the Great Depression. The government codified laws to guard against another financial crisis. The SEC highlights the duty of care and the duty of loyalty. The loyalty part means that the adviser should not put his interest ahead of yours, and to disclose any conflicts of interest.The SEC doesnât say that there cannot be conflicts of interest but that the...
2021-02-1714 minExcel in RetirementGood Samaritans Still Exist Show 37David begins this show by sharing a story about a young lady who was involved in an auto accident. Fortunately, a good Samaritan came by and freed her from her car before it burst in to flames. The two are later connected. David shares the details of how it unfolded. David then discuss an article CNBC published an article last year titled, The Fed is buying some of the biggest companiesâ bonds, raising questions over why. The points the article covered are:The Federal Reserve is continuing to buy corporate bonds, following up on a pledge it...
2021-02-1014 minExcel in RetirementGameStop And What A Billionaire Is Doing With His Money Show 36The stock market was front and center in the news and on our social media feeds over the last week. Maybe you were confused by what was going on with GameStop, like some people who called me to ask for an explanation. Iâll break it down in simple terms. A hedge fund noticed that GameStop has been in decline for years and saw an opportunity to buy an option. The hedge fund was betting that GameStop would continue to struggle and they bought options accordingly.Well, a website where people gather in an online com...
2021-02-0312 minExcel in RetirementA lesson dad taught me Show 35What will happen with the economy? Will President Biden and Democrats raise taxes? How will this impact my retirement savings? These are questions Iâm hearing when Iâm talking with people about their life savings, and theyâre all merited. I think itâs fair to say that many of us have never experienced this much uncertainty. Iâm as worried as the next person about what will ultimately happen to America, but when people ask me the questions above, I have good news for them. Some of our long-term readers and...
2021-01-2712 minExcel in RetirementDIY Investing Pitfalls and Social Security Updates Show 34Itâs no exaggeration that before we bought our house, we looked at least thirty houses. Yes, the housing market was competitive, but we looked at all kinds of houses then we finally began narrowing our needs and desires down. Finally, after months of deliberation and prayer, we bought our house. We spent copious amounts of time on our house buying decision and we should have. Itâs one of the largest financial decisions most of us make. But then many of us work 25 to 40 years saving for retirement. We faithfully put away...
2021-01-2014 minExcel in RetirementWhat is Estate Planning with attorney Robert Merting Show 33Some of our long-time readers may recall that we frequently hosted in person seminars. We had an ambitious calendar of events planned for 2020, but that all came to a halt early last year.One of the seminars I had hoped to conduct was one with an elder law attorney to go over the ins and outs of estate planning. Obviously, we couldn't do that, but I wanted to find a solution...Instead of asking you to attend an in-person seminar or watch a webinar online, I interviewed attorney Robert Merting on our podcast. You can...
2021-01-1339 minExcel in Retirement5 Goals for Retirees in 2021 Show 32Over the weekend the Wall Street Journal ran article entitled, For New Yearâs Resolutions, Never Think Youâre Too Old to Become a Beginner.  New Yearâs resolutions tend to get a bad reputation. I like to think of them as goals rather than resolutions. The word resolution carries more of a symbolic meaning, and the word goal carries more of striving context. Goals are more practical and applicable.  Sure, we can write 2020 off, but letâs face it: sometimes our goals donât even come to fruition when everything goes perfectly in the world. Some of...
2021-01-0614 minExcel in RetirementWhat Rich People Are Doing Show 31Bloomberg recently ran an article that read, Rich Americans Who Fear Higher Taxes Hurry to Move Money Now. From the Social Security Administrationâs website, âCurrently, the Social Security Board of Trustees projects program costs to rise by 2035 so that taxes will be enough to pay for only 75% of scheduled benefits. This increase in cost results from population aging, not because we are living longer, but because birth rates dropped from three to two children per woman.â From NPR article in July of this year, âMost of those who watch Medicare finances agree that the larger pro...
2020-12-3014 minExcel in RetirementAm I gonna be ok? Show 30What Iâve found is when most people come to me, they are looking for assurance that theyâll be okay. Most people donât state it quite like that, but thatâs the underlying concern that they have. Itâs merited. We all want to know what to expect or how to prepare. And if weâre not asking these questions, we may have issues down the road of life.The next question clients have for me is, âHow can you help me have greater financial peace of mind?â Again, they donât say it quite like that, but Iâv...
2020-12-2310 minExcel in RetirementNew Update Available Show 29Itâs fascinating to me that in our day of high speed innovation, how we invest is slow to innovate. Modern Portfolio Theory was developed years ago and itâs broken. Harry Markowitz developed MPT in 1952 and won a Nobel Peace Prize for it.Investopedia.com states, âModern portfolio theory (MPT) is a theory on how risk-averse investors can construct portfolios to maximize expected return based on a given level of market risk.Leland B. Hevner in an article states, MPT dictates that portfolios be designed to match the risk tolerance of each investor using asset...
2020-12-0912 minExcel in RetirementWill Biden Raise Taxes? Show 28Thereâs a lot of chatter about what will happen politically right now. One side of the political spectrum says the election is settled. The other side says Trumpâs pleas of election fraud are warranted. No matter where you stand on the question, the most important thing you can do when it comes to your retirement planning is plan for the worst and hope for the best. The biggest question for many people is âDo you think tax rates will be lower or higher for you in the future?If youâre like most of th...
2020-12-0222 minExcel in RetirementWhat To Look For In A Financial Advisor Show 27David further expands on our Empowering Women in Retirement topic. He discusses the 3 legged stool of retirement planning and expands on practical approaches we can all take in our financial planning. He also shares what to look for in a financial advisor. He expands and explains each of these points. 5 Criteria for a Financial Advisorâ˘Â   Listenâ˘Â   Open and honestâ˘Â   Respond in a timely mannerâ˘Â   Speak clearlyâ˘Â   Create a written retirement plan and review regularly Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC...
2020-11-2524 minExcel in RetirementEmpowering Women in Retirement Show 26Did you know that 90% of all women will eventually be solely in charge of household finances? Unfortunately, that can also be very scary for some. To me this was very exciting.  I try very hard to empower women around me when it comes to financial planning. One of the reasons I wanted to do the podcast this week is because, based on a recent survey, it was found that only 20% of women feel very well prepared to make wise financial decisions.  If 90% of women are going to be solely in charge of finances, would you agr...
2020-11-1823 minExcel in RetirementAvoid The Penalty For Withdrawing Your 401k Before 59.5 Show 25On this show David cover three segments. First, he goes over some current events, then he covers a behavioral finances study then we conclude by going over what the exceptions are to withdrawing money from your IRA early are. Remember, if youâre younger than 59.5 years old if you take money out of your tax-deferred plan like your 401k youâll be penalized in most cases. Weâll go over what the exceptions to that rule are. Next week, our show will be geared towards women and what they face in retirement. Itâs no secret that women oft...
2020-11-1119 minExcel in RetirementLikely Outcomes for a Trump / Biden Administration - Show 24What will happen to the national debt under a Trump or Biden presidential administration? David outlines possible outcomes and what that could mean for your retirement assets. Also, he discusses what happened last week in the markets. Everything sold off including bonds and gold. He tells listeners what they may be able to do to hedge against this issue. Also, he discuss what Nobel Prize winning economist Robert Shiller has recently found. Shiller's Crash Confidence Index is measured based on asking investors âWhat do you think is the probability of a catastrophic stock market crash in...
2020-11-0421 minExcel in RetirementBonds Bonds Bonds and How To Properly Use the Stock Market Show 23Are you still using the outdated antiquated 60% equities / 40% bonds portfolio allocation?That rule originated in the mid 1990s when bonds were paying 6% to 7%. Thatâs not the case anymore. With interest rates hovering near zero, the 60/40 rule is broken. Many bonds are not even keeping up with inflation, so using bonds may be problematic.Couple this with the new reality that corporate bankruptcies are piling up due to Covid-19. From the Financial Post: âBankruptcy filings are surging due to the economic fallout of COVID-19, and many lenders are coming to the realization that their...
2020-10-2818 minExcel in RetirementElection 2020 Analysis - Should you Convert to a Roth IRA - What EVERY Retirement Plan Needs - Show 22In this show David Treece, a financial adviser, shares with you his election analysis and explains how COVID-19 has impacted this election. He explains how this election may affect you and your retirement. David also shares how we build all weather financial plans at Clients Excel that are built to withstand market volatility. Also, he shares with listeners reasons why you may want to consider a Roth IRA conversion and why some people probably don't need to consider a Roth conversion. David ends the show by discussing what everyone's financial plan must have. He covers...
2020-10-2137 minExcel in RetirementElection Consequences For Our Retirement Savings Show 21David Treece shares some potential consequences to this yearâs presidential election. And he shares with you a new investment idea that our clients have been enjoying! "You know, I believe the economy is better off with competition. We donât have to look hard to see enterprises, companies or government entities that have a monopoly. In fact, sometimes the government will intervene and break companies up when they become too big. But what tends to happen when one organization has the corner on the market? Customer services becomes secondary, the company isnât as competitive as it used...
2020-10-1417 minExcel in RetirementEliminate Banks! Show 20David is joined by Sarry Ibrahim to discuss how to eliminate using banks for loans. The bank on yourself concept uses Nelson Nash's Infinite Banking strategy to create your on personal bank. This idea utilizes permanent life insurance to create your personal bank. Permanent life insurance has couple living benefits, and when properly structured this strategy can allow you to simultaneously use your dollars for more than one thing. If you've ever wanted to leverage your assets this episode is for you! Book mentioned at minute 3:52Investment advisory services offered only by duly registered individuals...
2020-10-0726 minExcel in RetirementDifferent Types of Fixed Indexed Annuities, Show 19Do you know the two types of Fixed Indexed Annuities? There are income annuities and accumulation annuities. David breaks them down into these two categories, but of course there may be some overlap with them. But generally speaking, these are the types. Accumulation focused fixed indexed annuities do not guarantee a rate of return. Youâre participating the growth of an index but youâre not invested directly in the stock market. So, you cannot lose money if the market goes down. If the market goes up you may earn a return. This same concept applies to Inco...
2020-09-3019 minExcel in RetirementDo You Need A Second Opinion On Your Financial Plan, Show 18Have you ever wondered if your financial plan could use a second opinion? On this show David goes over reasons why it may good idea. He gives a list of reasons that you can immediately apply to determine if you should get a second opinion. David begins by telling a story about how he got a second opinion one time and the impact it had in his life. Also, he mentioned some blue blocking glasses he's using and a Harvard study about them. Check out the links to those below. Then he finishes the show off by...
2020-09-2224 minExcel in RetirementMutual Funds & ETFs What's the difference? Show 17If you have a 401k, then you probably own mutual funds. Maybe you own ETFs too. But do you know what they really are? David's found most people who own them but don't really understand how they work. If you'd like to have a better understanding of both of these investments then this show is for you. David takes you on a short journey that starts with when these funds were created and explains how they evolved. At the end of the show, David gives a strong warning about tax-deferred accounts that you'll want to hear. Mutual...
2020-09-1621 minExcel in RetirementWhat To Do When The Stock Market Is Crashing - Show 16This week David expands on last week's show where he talked about using a fixed indexed annuity for the bond portion of your allocation. This week he talks about how we have helped some of our clients allocate the equity portion their money. We believe itâs important in retirement to be downside focused first. And itâs important to be nimble in your equity approach, because the dynamics may quickly change. Those who are positioned to adapt to rapid change often come out on top. David explains how we achieve this for our clients.Investment advisory serv...
2020-09-0921 min