Retirement planning is a journey filled with complex decisions and potential pitfalls. In this episode of Your Financial Compass, Chris and Scott take a deep dive into some of the most common mistakes and misunderstandings that they see folks make when it comes to planning their finances to and through retirement.

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

• How AI is changing business.
• Setting realistic expectations for your retirement.
• The average vs. the actual rate of return.
• What does sequence of return really mean?
• Balancing sequence of returns risk with a portfolio that is adequate for someone who is older.
• Dave Ramsey’s 7 baby steps toward saving for retirement.

WAYS TO CONNECT:

Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg

Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team.

If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

As you approach retirement, the question of financial security becomes increasingly important. In this week’s show, we’ll continue our conversation about the essential strategies to ensure a secure and comfortable retirement. From understanding income sources and tax implications to coordinating with your spouse and managing lifestyle inflation, we’ll add to the list of items you need to think about before you walk away from work for good.

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

• A small change you may be able to make that could have a huge impact on your bottom line.
• The ramifications of pulling from qualified accounts to supplement your lifestyle.
• Scott’s number one investment to make to protect your family, outside of inheritance.
• Tips to avoiding conflict with your spouse when it comes to retirement planning.
• The “silent killers” of financial planning.

WAYS TO CONNECT:

Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg

Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team.

If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

In this show, we’re going to give you a list of key areas and questions that need your attention before you retire because these things could cause issues financially if you haven’t addressed them. We’ll also address often-overlooked aspects of your retirement plan, providing valuable insights and actionable steps to help you prepare for a financially secure future.

We have more than a dozen items on the list so we’ll break this show up into two parts beginning with today’s part one.

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

• What are you going to do with your time when you retire to find that sense of purpose?
• Life challenges that come with retiring.
• How AI and technology could change your retirement.
• Where will your income come from?
• We’ll address the biggest concerns about the future of Social Security.

WAYS TO CONNECT:

Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg

Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team.

If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

Retirement planning can often feel like navigating a complex maze. With so many factors to consider, it's easy to feel overwhelmed. In this week’s show, we’ll try to simplify things by highlighting five key areas that make up a comprehensive financial plan.

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

• The importance of building a relationship with your financial planner.
• Why we feel the retirement income plan might be the most important aspect of planning.
• What we discuss when it comes to legacy planning.
• Different investment plans for those with varying comforts with risk.
• By engaging in savvy tax planning, you might be able to create greater retirement savings.
• How high earners are phased out of Roth IRAs, and a look at Roth 401(k)s.

WAYS TO CONNECT:

Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg

Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team.

If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

In this week’s show, we want to spend some time on an often daunting topic: market downturns. With over 20 years of experience in comprehensive financial planning, our team can offer invaluable advice on how to manage your investments and emotions during volatile times.

Over the course of this episode, we’ll covers investment strategies, the role of financial advisors, and the significance of regular communication with clients. Market downturns are inevitable, and even the most seasoned investors can't predict when they will occur. This unpredictability makes it crucial to have a robust financial plan in place.

Tune in for actionable insights and real-life examples to help you stay the course during financial uncertainties.

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

• Are we headed towards a recession like many people are predicting?
• The role emotions play in investing.
• Our approach to communicating with clients during a down market.
• Having a plan for how you distribute your money in retirement.
• What actions can you take during a down market?

WAYS TO CONNECT:

Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg

Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team.

If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

Before another tax season approaches, we want you to be in the best position now and in retirement. That means tax planning needs to be a focus as a part of your overall financial plan.

In this week’s show, we will provide essential tips and strategies for preparing and filing taxes, understanding tax brackets, and making the most of deductions. We’ll also discuss the benefits of Roth conversions, charitable giving, and how to work effectively with CPAs to optimize your financial health.

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

• Some of the basic things you need to know about taxes as you prepare to file this year.
• Should you work with a CPA on your taxes?
• Ways that you might be able to save on taxes now.
• Reasons you might want to do a Roth conversion and the reasons why you might not.
• Things you should know about taxes if you’re self-employed.

WAYS TO CONNECT:

Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg

Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team.

If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

Coming up on this week’s show, we turn our focus to some key retirement discussions we have with clients when we’re helping them build a plan. Join us as we break down the three types of retirement you might have, the most common pitfalls people fall into in retirement, and the truth about annuities.

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

• Defining what it means to be underfunded, overfunded, or constrained.
• The tax issues that get created when you become overfunded.
• Some of the pitfalls of retirement planning.
• The area where people need help and education the most.
• The good, bad and ugly of annuities.

WAYS TO CONNECT:

Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg

Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team.

If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.

Many of the questions we get from clients deal with the stock market and the economy. There’s plenty of uncertainty around inflation and interest rates so let’s do our best to give you the reality of what’s happening this year. This show dives into the intricacies of the stock market, the role of the Federal Reserve, and the potential impacts of commercial real estate on the economy.

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

• The reality of what’s happening in the stock market this year.
• The different sectors of the S&P 500.
• What is the Magnificent Seven as it relates to the S&P 500?
• Is your portfolio appropriate for your stage of life in retirement?
• What you need to know about the Fed and inflation.
• A recent Vanguard study had some interesting facts about using a financial advisor.

WAYS TO CONNECT:

Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg

Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team.

If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.