Common Sense Financial Podcast Podcast Por Brian Skrobonja arte de portada

Common Sense Financial Podcast

Common Sense Financial Podcast

De: Brian Skrobonja
Escúchala gratis

Obtén 3 meses por US$0.99 al mes
The Common Sense Financial Podcast is all about finances, mindset and personal growth. The goal is to help you make smart choices with your money in your home and in your business. Some of the podcasts here are historical in nature. They aired before July 1, 2022 and were previously approved by Kalos Capital. The views and statistics discussed in these shows are relevant to that time period and may not be relevant to current events. This is intended for informational and entertainment purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Investing involves risk, including the 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 issuing carrier. Our firm is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the US Government or any governmental agency. The information and opinions contained herein provided by the third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.All rights reserved Economía Finanzas Personales
Episodios
  • 3 Factors to Consider Before Taking Your Social Security Benefits - Replay

    3 Factors to Consider Before Taking Your Social Security Benefits - Replay
    Oct 15 2025
    The complexity of Social Security calculations can cause some confusion around when someone eligible should file and claim their benefit. There are a lot of variables to consider and acronyms to decipher that can make Social Security feel like a confusing hedge maze. Let’s cut through some of the noise and clarify some of the most pressing questions around Social Security benefits and what questions you need to consider to determine what’s best for you and your family. Social Security has many layers, and the concept of eligibility can be pretty complex. It's not always clear when and how someone should begin taking their benefits because being eligible doesn't necessarily mean you should turn that benefit on.Social Security benefits can be turned on as early as age 62. Each year the benefit is delayed, you receive what is called a delayed retirement credit or DRC. These DRCs guarantee an automatic 8% increase in your Social Security benefit every year you delay up to age 70.There is also your full retirement age. This is the age when you are eligible to receive the full benefit without any offset for having earned income. Earned income being income from employment, which is different from income received from investments, pensions or annuities.For those born in 1960, or later, your FRA is age 67. Benefits are calculated by the Social Security Administration by taking 35 years of earnings that are indexed for inflation. Any years you didn’t work are counted as a zero in your average earnings calculation.These annual amounts are then totaled and divided by four and 20 months to arrive at the monthly figure known as your average indexed monthly earning. This number is different from your benefit amount. The SSA then applies a formula to that number which determines your primary insurance amount or PIA and this is your monthly Social Security benefit.If you choose to take your benefit before your FRA while employed, there's an offset that can significantly reduce the benefit if your income exceeds $21,240 in 2023. This reduction is $1 for every $2 of earned income over the limit. In the year you reach your FRA, the limit increases to $56,520 in 2023, with a benefit reduction of $1 for every $3 of earned income over the limit.After you've reached your FRA there's no earning limits and you receive the full benefit with no income offsets.Provisional income comes into play after your benefits are activated. Your provisional income is calculated by taking your adjusted gross income plus half of your Social Security benefit.If that total is less than $25,000, your Social Security benefit is not subject to federal tax. If it is above 25,000, but below 34,000, 50% of the benefit is taxed, and if it's above 34,000, 85% of the benefit is taxed.If you're a government employee, there's something called a Windfall Elimination Provision, or WEP. And there's also a Government Pension Offset, or GPO.There are three common conversations we have with clients when it comes to Social Security. The first thing is determining the breakeven point.One method for deciding when to take Social Security benefits involves calculating the breakeven point, this is the future point in time when the value of one option equals that of another.For example, if your FRA benefit is $2,000 a month, and $1,400 at age 62, there's a $600 a month difference. When compared to waiting the five years and taking the full amount, the breakeven point would be 11.6 years.Something else to keep in mind is that by taking a benefit early, you reduce the amount of spousal benefit made available since the benefit in and of itself has been reduced and this could be an important consideration.The second consideration relates to one's health and longevity. If you don’t expect to live past that breakeven point, taking the benefit early might make more sense.From this perspective, it could be a win-win situation if they start receiving benefits early and they live longer than expected because the payments continue.We can’t know our lifespan for certain, but if you're in poor health, taking benefits early might be a reasonable option.The third consideration involves a person's retirement income requirement.Many clients we work with see Social Security simply as a piece of the retirement income strategy, and aren't necessarily concerned with breakeven points as much as they are with maximizing their assets and the resources. Many clients opt to turn their Social Security benefits on instead of tapping into their assets in order to maintain growth.Using assets to generate income in retirement also comes with variables that are hard to predict, like the conditions of the stock market and economic policy. Social Security, in comparison, is stable and easy to predict.Figuring out your retirement income requires careful planning, which is why it’s crucial to work with a professional that understands Social Security and its role in your retirement plan....
    Más Menos
    15 m
  • Rising Long-Term Care Costs: Strategies to Safeguard Your Retirement

    Rising Long-Term Care Costs: Strategies to Safeguard Your Retirement
    Oct 8 2025
    Brian Skrobonja talks about one of the most overlooked pieces of retirement planning — long-term care. He explains why preparing for care isn’t about being gloomy, it’s about protecting your freedom and keeping control over the life you’ve worked so hard to build. Expect to learn how to help prepare for care costs, protect your savings, and enjoy a stress-free retirement with clarity. Tune in to hear how to create a retirement plan that covers every “what if” retirement scenario. Brian starts by explaining why long-term care belongs in retirement plans. Long-term care is the piece that quietly shapes how much freedom you keep. Planning for it means you’re ready for life’s curveballs, not hiding from them.Brian reveals that if you’re 65 or older, there’s a 70% chance you’ll need some type of long-term care. This shocking number means long-term care is a reality worth preparing for. Brian shares what care costs today. Home health aid runs around $77,000 a year, assisted living about $70,000, and a private nursing room close to $128,000. And those are just today’s numbers, not tomorrow’s. Without a plan, those bills can eat through savings fast.For Brian, planning for long-term care doesn’t mean you’re pessimistic about life. A thoughtful plan helps keep your dreams alive even if your health changes.Brian shares Tom and Linda’s retirement story. They built a solid retirement, free of debt and rich with plans. Then Tom had a stroke, and their savings began to drain by $80,000 a year. Their story proves how quickly health events can rewrite even the best financial script.How long-term care shapes your life story. Brian says care isn’t just a medical issue; it’s a retirement event. It can shift finances, lifestyles, and even family roles. Brian reveals that having a strategy doesn’t erase every challenge. But it stops the burden from falling entirely on you, your spouse, or your children. Brian walks through planning choices, from paying out of pocket to using insurance. Each has pros and cons, and your goals decide what fits best. The key is to match your plan to your life, not someone else’s.Brian breaks down the pros and cons of traditional long-term care insurance. Brian reveals why Tom and Linda’s story is a wake-up call. They did almost everything right, yet one stroke changed everything. A clear plan could have protected their savings and eased Linda’s load. Stories like theirs remind us that planning is love in action.Without preparation, kids can be pulled into financial and caregiving roles they never expected. A solid plan keeps their lives intact and gives them confidence to support you. Planning helps protect everyone, not just your savings.How to see long-term care as part of a full life. Brian says it’s not just a health moment — it’s one chapter of retirement. You can decide whether it controls your story or blends into a life well lived. Final thoughts from Brian: He reminds us that ignoring care doesn’t make it vanish. Facing it gives you choice, dignity, and calm for the years ahead. That’s the gift every retiree deserves to give themselves. Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com SkrobonjaWealth.com BUILDbanking.com Common Sense Financial Podcast on YouTube Common Sense Financial Podcast on Spotify References for this episode: https://acl.gov/ltc/basic-needs/how-much-care-will-you-need#:~:text=Someone%20turning%20age%2065%20today,for%20longer%20than%205%20years https://acl.gov/ltc/basic-needs/how-much-care-will-you-need https://investor.genworth.com/news-events/press-releases/detail/982/genworth-and-carescout-release-cost-of-care-survey-results#:~:text=The%202024%20survey%20found%20the,home%20increased%209%25%20to%20$127%2C750. https://www.healthyagingpoll.org/reports-more/report/long-term-care-are-older-adults-ready Alternative investments may be subject to less regulation than other types of pooled investment vehicles. Alternative Investments may impose significant fees, including incentive fees that are based upon a percentage of the realized and unrealized gains and an individual’s net returns may differ significantly from actual returns. Such fees may offset all or a significant portion of such Alternative Investment’s trading profits. Incorporating alternative investments into a portfolio presents the opportunity for significant losses including in some cases, losses which exceed the principal amount invested. Also, some alternative investments have experienced periods of extreme volatility and in general, are not suitable for all investors. Asset allocation and diversification strategies do not ensure profit or protect against loss in declining markets. ---- BUILD Banking™ is a DBA of Skrobonja Insurance Services, LLC. Benefits and guarantees are based on the claims paying ability of the insurance company. Not FDIC insured. Results may vary. Any descriptions involving ...
    Más Menos
    22 m
  • The 7 Indispensable Steps in Building Your Wealth Strategy - Replay

    The 7 Indispensable Steps in Building Your Wealth Strategy - Replay
    Oct 1 2025
    If you tune into social media, there are a lot of influencers and gurus peddling one-size-fits-all financial advice and unfortunately plenty of investors base their strategies on what these people recommend. Find out why basing your investment decisions on what’s trending on TikTok is short sighted and discover the seven indispensable steps of building wealth that are the most common among our most successful clients. Conventional wisdom such as paying off mortgages, quickly maxing out 401(k)'s or buying only Term Life insurance can be short sighted.Wealth isn't created by following rules of thumb, random one-size-fits-all fixes, or chasing trendy financial tips. Wealth is created by developing a custom-tailored strategy that facilitates wealth creation and prepares you for the future.The wealthiest people aren't doing the same things as the other 99%.Avoid rushing and applying random tidbits of information without first creating a comprehensive wealth strategy. We all have to take a long-term strategic view of wealth creation.There are seven key steps in building wealth that are common amongst all of our most successful clients.The first step is understanding cash flow. Cash Flow isn't about monthly budgeting. It's a 12-month roadmap that outlines where your money will go including savings, investments, and day-to-day expenses.Effective cash flow management is about abundance and a focus on wealth creation.Budgeting operates from scarcity and measures success by such things as paying off debt or simply making ends meet. Wealth doesn't just magically form out of scarcity. Step two is really understanding your investment risk tolerance. Many investors carry far too much risk for their stated tolerance levels but have really no way of gauging what risks they're carrying.It's crucial to know where you fall on the risk spectrum and to work with a professional to help you tailor your investment strategy.Complete the questionnaire on our website to discover your risk tolerance and know where to start that conversation. Step three is to learn your tax allocation. Knowing how to help mitigate tax liabilities is an essential aspect of building and keeping wealth.Tax deferral methods like 401 K's can be useful in some situations, they are not what we would consider comprehensive tax strategies. A deferral is not a savings.Knowing how to allocate assets to mitigate tax liabilities requires an understanding of your entire financial picture.A professional trio of maybe a certified public accountant, CPA, certified private wealth advisor, CPW, or a tax attorney, is essential for making the most of the opportunities available to you. Step four is to understand investment verticals. The more public market investments that are acquired such as stocks, bonds and mutual funds, the deeper the portfolio vertically grows, but adding more of the same to your portfolio doesn't necessarily mitigate the exposure to the risk you're trying to diversify away from.Horizontal opportunities are outside of the same vertical such as real estate businesses, private equity, and life insurance annuities, and they don't share in the same risk pools that each vertical may be exposed to.Effectively diversifying reduces the risk in a portfolio overall and forms a stable foundation to build on.Don't put all your eggs into one vertical basket. Step five is establishing multiple streams of income. Relying on a single source of income, like your job or a single investment is a risky proposition.Businesses, royalties, passive income investments, or other consulting or freelance opportunities are all ways to create more than one stream of income.More sources of income mean your financial situation is more robust during economic storms and you have more capacity to take advantage of opportunities. Number six is to adopt financial delegation. There's usually an element of cost and trust when managing financial decisions in a DIY fashion. There comes a tipping point when the perceived savings of doing things on your own becomes an opportunity cost.The complexities involved with wealth management require specialized support from professionals.The cost of working with a professional can be seen as an investment when it opens up new opportunities and it allows you to focus on your strengths.Delegate specific financial tasks to professionals like accountants, lawyers, and financial planners. This allows you to focus your time and effort on enjoying the benefits of having the help and the division of labor helps ensure that all aspects of your financial life are managed optimally. Step seven is finding your purpose. Scroll social media and you'll find that there are countless examples of miserable wealthy people.Money certainly makes things easier and helps you afford some privileged experiences but happiness is derived from inside of ourselves. You'll never have enough money and there's always something more to achieve.Answering the question of what you...
    Más Menos
    14 m
Todavía no hay opiniones