Your Financial Compass with Bulman Wealth Group

Navigating Market Turbulence with Confidence

Mon, 17 Mar 2025 15:00:00 -0400

Market downturns are inevitable, but how you respond can make all the difference in protecting and growing your wealth. We’ve certainly seen some market turbulence since the start of the year, and for many investors, the uncertainty can be unsettling. While no one can predict exactly when the market will rise or fall, there are smart strategies that can help you navigate these challenging times with confidence. Understanding how to manage risk, stay disciplined, and take advantage of opportunities during a downturn can put you in a stronger financial position for the long run.

Joining us today is our very own Taran Pannu. We’ll explore how to stay on track during a downturn, key strategies to consider in a bear market, and why having a trusted financial advisor by your side can make all the difference.

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

📉 The gut response of investors when the market is turbulent

🎯 Reviewing financial goals and plans during market downturns

🐻 Some strategies to keep in mind during a bear market

🤝 The role of financial advisors in helping you navigate market turbulence

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.

Meet Taran Pannu: The Newest Advisor at Bulman Wealth Group

Wed, 19 Feb 2025 18:00:00 -0500

In this special episode of Your Financial Compass, we’re excited to introduce Taran Pannu, the newest financial advisor at Bulman Wealth Group. Marcos sits down with Taran to learn more about his background, how he got into the financial industry, and why he decided to join the team at Bulman Wealth.

Taran also shares some of the common financial challenges many pre-retirees and retirees face. He explains these struggles with a simple yet powerful analogy that helps listeners understand how to organize their financial "garage" for a more secure future. Plus, get to know Taran a bit more as he talks about his love for travel, sports, and his upcoming adventures in Greece!

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

Taran’s background, family life, and recent move to California
Taran’s transition to Bulman Wealth Group
What brought Taran to the financial services industry
The most common issue that Taran sees retirees and pre-retirees struggling with
Taran’s personal interests and future plans

Learn more about Taran here:

https://bulmanwealth.com/team-member/taran-pannu/

Do You Have A Solid Income Plan For Your Retirement?

Fri, 10 Jan 2025 09:00:00 -0500

During our working years, we get used to that predictable paycheck every couple of weeks or months. But when retirement comes, we face a whole new set of challenges. How do you take a lump sum of savings and turn it into consistent, sustainable income? In today's episode, we'll break down the toughest hurdles that retirees face and discuss some practical solutions to make your money work for you for the long haul.

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

What are the biggest challenges that we see people face when they try to generate income for themselves in retirement?
The statistics tell us 49% of investors don’t have a retirement income strategy.
It takes a different skill set and specialty to be a retirement income planner.
Explaining the bucket approach to planning.

Social Security Benefits: When Should You Start?

Thu, 19 Dec 2024 15:00:00 -0500

Today, we're tackling a question that many people have: when should you start Social Security? There’s so much advice out there, and it can be overwhelming trying to figure out the best time to file for your benefits. So, if you’ve ever wondered when you should start, you’re in the right place.

Join us as we cover some important factors to consider when deciding when to file, whether you’re married, widowed, or single.

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

What filing at different ages can mean for your benefits
Why some people decide to claim Social Security early
The “break-even” point with Social Security
Claiming strategies for married couples, surviving spouses, and single individuals

Cleaning Out Your Financial Garage

Mon, 02 Dec 2024 09:00:00 -0500

Many of us can relate to the frustration of a messy garage. Despite our best efforts to keep it tidy, it doesn’t take long before the space fills with tools, holiday decorations, and things we don’t even remember storing. Our finances are no different. Over time, we accumulate 401(k)s from previous jobs, old IRAs, deferred compensation plans, and insurance policies- creating our own “financial garage” of clutter.

So, how can we make sense of it all? In today’s episode, we’ll explore practical steps to clear the financial chaos and bring everything into focus.

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

Some concerns and risks of having too much clutter in your financial garage
How a financial advisor can assist you in getting organized
The benefits of taking inventory of financial accounts, consolidating assets, and aligning your long-term goals
How do you know if you have a financial garage that needs cleaning?

The Top 3 Retirement Concerns

Fri, 01 Nov 2024 07:00:00 -0400

There will always be things to worry about, and retirement risks are no exception. Whether it's the fear of outliving your savings, the unpredictability of rising taxes and inflation, or the anxiety over market volatility, there are absolutely some retirement risks worth discussing. The good news is, there are ways we can prepare and mitigate these concerns.

In today’s episode, Marcos guides us through how Bulman Wealth tackles these retirement worries during the planning process.

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

Strategies to help clients avoid outliving their money
The role of financial advisors as educators
The importance of planning with the end goal in mind
Reducing worry about rising taxes and inflation
Comprehensive financial planning to combat market volatility

The Three Phases of Retirement

Thu, 10 Oct 2024 15:00:00 -0400

When it comes to retirement, most of us think of it in two clear phases: pre-retirement and retirement itself. But what if we told you that it’s more nuanced than that? With people living longer, retirement can now span 30 years or more. That’s why it's essential to consider not just how you'll spend those years, but also the expenses that will come with them.

Join us as we break down the three phases of retirement in today’s show: the Go-Go Years, the Slow-Go Years, and the No-Go Years.

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

How should you think about and plan for the Go-Go Years?
Settling into a retirement routine in the Slow-Go Years
Financial issues to consider in the No-Go Years
Working with a team who thinks about the big picture

Women and Wealth: Financial Planning For Female Investors

Fri, 30 Aug 2024 08:00:00 -0400

They say men are from Mars and women are from Venus. Are their financial and investment needs just as different? In today’s episode, we’ll dig into some of the nuances that female investors face today as opposed to their male counterparts.

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

Women’s tendency toward risk aversion, investing performance, and role in financial decision-making
Planning for a longer life, long-term care, and career pauses
The importance of financial education in building confidence and comfort
Working with an advisor to maximize your savings, set goals, plan, budget, and more
How divorce disproportionately impacts women

Refinancing Your Retirement

Thu, 01 Aug 2024 05:00:00 -0400

As consumers, we're always on the lookout for ways to make our money go further. When interest rates decrease, our purchasing power increases. But what happens when interest rates go up? According to Marcos, this can actually be beneficial for your retirement savings, especially if you know how to navigate the current financial landscape.

Tune in to discover how refinancing parts of your retirement plan could potentially enhance your returns. It might sound like an unusual concept, but in today's high-interest-rate environment, it could be a game-changer for your financial future. If you would like to know why and how you should refinance your retirement, this episode is for you!

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

The concept of refinancing and why it’s relevant in today’s interest rate environment
Why it might be a good time to review and potentially refinance your existing annuities
How increasing interest rates affect different aspects of your financial plan, including growth stocks and bonds
How higher interest rates are leading to better returns on savings accounts, CDs, and money market accounts
Why it's crucial to review your investment strategy in light of changing interest rates

Your Unique Priorities Guide Your Retirement

Thu, 18 Jul 2024 05:00:00 -0400

Everyone’s retirement situation is going to look a little bit different, with varying asset levels, types, concerns, and goals. In today’s episode, we’ll highlight some key considerations to keep in mind as you plan for your unique retirement. We hope this conversation shows that retirement planning isn't as simple as giving yourself a big paycheck- it’s about effectively using your resources to achieve the life you want!

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

Prioritizing and planning for risks in retirement
Aligning your retirement goals with your financial plan
Utilizing health and long-term care insurance to protect against unexpected expenses
Exploring protected income options like mutual funds, ETFs, and annuities to safeguard against inflation and provide stable income
The top risks that most retirees worry about when it comes to retirement

Check out our upcoming events and seminars

https://bulmanwealth.com/general-events/

What It's Like To Work With Bulman Wealth Group?

Thu, 27 Jun 2024 16:00:00 -0400

Do you feel overwhelmed with financial planning and feel there are too many things to tackle? Are you not exactly sure where to get started? Today we will cover our process here at Bulman Wealth Group, guiding you through what it feels like to become a client with us.

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

The discovery meeting: Getting to know your goals, dreams, and concerns
Risk assessment and document collection after the first meeting
Identifying areas of improvement with an initial, high-level financial plan
The follow-up meeting: Discussing risk score, portfolio analysis, and moving forward
Transferring your accounts, refining your financial plan, and establishing a client account
Regular review meetings, continuous communication, and client events

Annuities 101

Thu, 16 May 2024 15:00:00 -0400

Are annuities the right investment for your retirement? In today’s episode, we’re diving into the world of annuities to help you understand what they are, how they work, and whether they might be a good fit for your retirement strategy. Whether you're new to the concept or looking to deepen your understanding, this conversation should give you some important items to think about.

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

What is an annuity and how do they work?
What are some benefits of annuities?
What are some drawbacks of annuities?
Who should consider annuities?
How can annuities fit into a retirement portfolio?

The Three Pillars of Retirement Income

Wed, 24 Apr 2024 11:00:00 -0400

Retirement is a milestone many of us eagerly anticipate, but it also marks a significant change in how we manage our finances. Instead of a regular paycheck, we'll rely on various income streams. So, what income streams will you have in retirement? And how can you plan for this stage before you retire? In today's episode, we'll cover all of that and more.

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

Strategizing your retirement accounts and Social Security together
The shift from pensions to defined contribution plans in the U.S.
The differences between traditional and Roth 401(k)s
Understanding required minimum distributions in retirement planning
The difference between tradition and Roth IRAs

The 60/40 Portfolio: Does It Hold Up Today?

Thu, 11 Apr 2024 05:00:00 -0400

The 60/40 strategy, which involves investing 60% in stocks and 40% in bonds, has long been a go-to for risk-averse investors. But does this approach still hold its ground in today’s fast-paced market? Stay tuned as we explore the past, present, and future of this investment strategy and determine whether it’s still a cornerstone of wealth management or if it’s time to adapt to new realities.

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

What is the 60/40 portfolio and what is its history?
How have recent economic factors affected the effectiveness of the 60/40 strategy?
What are the key considerations when rebalancing a portfolio, and what potential risks should investors be aware of?

DIY Retirement Plans: Are They Worth The Risk?

Thu, 28 Mar 2024 15:00:00 -0400

With the abundance of online advice and self-directed retirement accounts gaining popularity, many are left wondering if going solo is the right move for them. In times of economic stability, it's easy to overlook potential risks and losses, especially when every investment seems like a winner. However, as markets fluctuate and retirement regulations evolve, the DIY approach could come with more risks than expected.

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

Can you keep your emotions out of the equation?
Do you have the time to put in the research needed to reach you and your family’s goals?
How are you protecting yourself from market downturns?
As you approach retirement, it’s going to get more complicated
The benefits of working with a financial professional + creating a plan that aligns with your goals

Aim To Protect Your Retirement Against Inflation

Thu, 07 Mar 2024 15:00:00 -0500

Unfortunately, we’re still seeing the impact of record-high inflation in today’s market. As interest rates may not decline as rapidly as anticipated, retirees face the additional challenge of market volatility impacting withdrawals from IRAs, 401(k)s, Roth IRAs, and other brokerage accounts. So, what are some ways to combat this?

Join us as we share some practical tips for aiming to protect your retirement against inflation.

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

The current economic landscape + Federal Reserve Chair’s perspective
Increasing fixed-income securities in your portfolio + Diversifying income sources
Investing in inflation-protected securities or real estate
Adjusting your withdrawal strategies + Exploring high-yield saving accounts

Important Age Milestones of Your Retirement Timeline

Thu, 22 Feb 2024 05:00:00 -0500

There are a handful of important age milestones that you should be aware of in the retirement planning process. While some of them are more well-known, others can easily fly under the radar. Stay tuned as we cover the important birthdays you need to pay attention to from catch-up contributions at age 50 to taking RMDs at age 73.

Here are the milestones we discuss in this episode:

Age 50: Catch-up contributions for IRAs and employer-sponsored accounts
Age 55: Rule of 55 for penalty-free 401(k) withdrawals after leaving an employer
Age 59.5: Elimination of early withdrawal penalties for qualified accounts + approaching Social Security age
Age 62: Earliest eligibility for Social Security benefits
Age 65: Eligibility for Medicare coverage
Age 67: Full retirement age + baseline income expectations
Age 70: Potential for increased Social Security benefits
Age 73: Begin taking RMDs

Navigating Retirement for Generation X: Strategies to Weather Market Storms and Secure Your Financial Future

Thu, 01 Feb 2024 08:00:00 -0500

If you’re a Gen Xer, born between 1965 and 1980, you might be starting to think about your transition into retirement. Moving into this new phase not only means imagining how your daily life will change but also having a clear understanding of your finances. Join us as we share some important things to consider as you approach this major milestone.

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

Understanding and managing retirement accounts, such as IRAs and 401(k)s + the potential risks associated with neglecting them as retirement approaches
Some options for optimizing retirement account holdings when nearing retirement
The importance of assessing your risk tolerance to ensure you’re aligned with your retirement goals
The financial considerations and challenges faced by Generation X

Traditional Vs Roth Accounts: Which Is Right For You?

Thu, 12 Oct 2023 05:00:00 -0400

Welcome back to Your Financial Compass! In today’s episode, we’re diving into the key distinctions between Traditional and Roth IRAs and 401(k)s. If you've ever wondered about the differences, pros, and cons, this episode is your guide to understanding these essential financial instruments.

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

What are the differences between traditional IRAs and traditional 401(k)s, and how do they work?
How do Roth IRAs and Roth 401(k)s differ from their traditional counterparts?
What are the potential benefits of using a Roth account, and are there any income limitations?
Can you transfer old 401(k) accounts into traditional IRAs without tax consequences?

Resources for this episode

Check out the CNBC article on 401(k)s

Meet Marcos Lemus: From Tech Enthusiast To Financial Advisor

Thu, 07 Sep 2023 14:00:00 -0400

In today’s episode, we are excited to introduce you to a key member of the Bulman Wealth Group team- Marcos Lemus. Marcos has been with us for about 2 years now and has recently transitioned into a new role as a service advisor. He joins us today to share more about his background, his journey into finance from the education and technology sector, and his passion for problem-solving and life-long learning.

Here are some key takeaways from this episode:

Marcos shares his journey from a tech-savvy background in education to becoming a licensed financial advisor
Marcos's genuine interest in finance stems from his passion for problem-solving. He enjoys tackling financial challenges and helping clients find solutions that align with their goals.
As a younger advisor, Marcos emphasizes the importance of staying informed about changing financial trends and technologies.
Marcos's calm and genuine communication style allows him to connect with clients on a personal level, making them feel comfortable and understood.
Outside of finance, Marcos is an avid Sacramento Kings fan. He shares his lifelong passion for the team and even plans annual trips to watch their games in different cities.

Can You Save Too Much For Retirement?

Thu, 17 Aug 2023 05:00:00 -0400

We spend a lot of time talking about how to save enough for retirement, but is there such a thing as saving too much? Some experts say that retirees will need 70-80% of their pre-retirement income to sustain a comfortable lifestyle, but recent studies show that many retirees are spending significantly less than these benchmarks.

Join us for a thought-provoking conversation on how spending habits can change as you age. We’ll talk about finding a balance between saving diligently for retirement and enjoying life’s experiences along the way.

Here’s some of what you will learn in this episode:

Recent studies challenge the notion that retirees need 70-80% of their pre-retirement income to live comfortably in retirement.
The importance of finding a balance between diligent retirement savings and enjoying life's experiences while in good health.
Excessive savings in traditional retirement accounts could lead to substantial tax burdens in the future + the benefits of Roth accounts in managing taxes during retirement.
The importance of personalized financial planning to ensure a secure and enjoyable retirement.

Links From Today's Show:

https://www.investopedia.com/articles/retirement/07/save_too_much.asp

https://finance.yahoo.com/news/saved-too-much-retirement-wish-120026207.html

How to Avoid Large Tax Surprises

Thu, 03 Aug 2023 05:00:00 -0400

While no one really enjoys paying taxes, we all know it’s a given, and we expect it every year. What makes it worse is getting hit with a tax bill that you never expected. Certain moments in our financial lives can and will trigger tax events so we want to make sure you’re mindful of them, explain what they are, and share some ways to stay ahead of these tax surprises.

Here’s some of what you will learn in this episode:

Understanding the rules when you sell your primary home and what’s considered profit.
What might trigger tax events when you're making large changes or transfers in an investment portfolio.
What steps can you take to minimize your RMD taxes before you start withdrawing that money?

Show Sources:

https://www.kiplinger.com/retirement/retirement-planning/605109/is-your-retirement-portfolio-a-tax-bomb
https://fnrpusa.com/blog/how-defer-capital-gains-tax/

Myths Of The Retirement Number

Thu, 20 Jul 2023 05:00:00 -0400

If you've ever felt overwhelmed or intimidated by the idea of a fixed retirement number, advertised by some financial institutions, you're not alone. In this episode, Scott debunks the retirement number myth, explaining that your retirement number is not just a single, daunting figure, but instead a combination of different income streams that work together.

Join us as we walk through a hypothetical scenario of John and Jane’s retirement plan and illustrate how Social Security, pensions, and other sources of income can significantly contribute to reaching your financial goals. We’ll also take a look at how inflation impacts your retirement planning and more.

Here’s some of what you will learn in this episode:

An introduction to the “retirement number” + How is this number actually calculated? (4:42)
Effective retirement planning considers all sources of income and potential gaps in savings so that you can make adjustments if necessary. (10:32)
Factoring in inflation into your plan + It’s never too early to start planning. (14:38)

Generation X Retirement Planning: Maximizing 401ks, IRAs, and Securing Your Financial Future

Thu, 01 Jun 2023 05:00:00 -0400

Ep 17: Wealth Preservation vs. Income Generation in Retirement + How Much Cash Should I Have?

Thu, 25 May 2023 05:00:00 -0400

As we approach retirement, it's crucial to shift focus from accumulating wealth to preserving it and creating a sustainable income. Determining the monthly income needed to cover your expenses and controlling your withdrawals is essential, but more complicated than it might sound. In this episode, Scott will break down the crucial difference between wealth preservation and income generation and then dive into the ideal amount of cash to have in your savings account.

Here’s some of what you will learn in this episode:

What is the difference between wealth preservation and income generation in retirement? (2:20)
Need versus greed in retirement planning. (7:18)
Taking out more money than you need could jeopardize the long-term sustainability of your investments. (10:38)
How much cash should I have in my savings account? (13:29)
Is your money working for you in the most efficient way possible? (16:10)

Ep 16: Social Security Benefits for Spouses – What to Know

Thu, 04 May 2023 05:00:00 -0400

One question that comes up a lot from our clients that are in their 60s and starting to ponder Social Security is what benefits are available to spouses?

Today we’ll break it all down for you and explain everything you need to know about spousal benefits. You might be able to claim a benefit of up to 50% without cutting into your spouse’s amount, and this could still hold true if you’ve gone through a divorce. Join us to hear the specifics on how it all works.

Here’s some of what you will learn in this episode:

What you need to be qualified for these spousal benefits. (3:59)
Your spouse needs to be collecting their benefit for you to receive yours. (6:07)
Does this change if you’re divorced? (10:22)
The scenario where you could claim Social Security benefits if a spouse passes away before retirement age. (12:22)
A quick recap of everything you need to know. (13:58)

Additional Resources:

https://www.forbes.com/advisor/retirement/social-security-spousal-benefits/

https://www.ssa.gov/planners/retire/applying6.html

https://www.ssa.gov/planners/retire/retirechart.html

Ep 15: Will the U.S. Dollar Go Digital?

Thu, 20 Apr 2023 05:00:00 -0400

Buckle up, because today we’re diving into the recent buzz around digital currency in the United States. As you might’ve heard, the Federal Reserve recently announced its openness to experimenting with the development and implementation of a digital U.S. dollar. While this possibility may seem daunting, there's no need to panic just yet. It's a multi-faceted issue with many layers to consider, and it is certainly not set to happen anytime soon. However, it's a topic worth exploring, and that's exactly what we're going to do today.

In this episode, we'll take a closer look at what this could mean for the U.S. dollar, why it's being considered, and the pros and cons associated with it.

Here’s some of what you will learn in this episode:

What is a digital dollar? What might this look like? (3:08)
How deep have these conversations gotten with the Federal Reserve? (5:08)
Exploring some pros of this issue. (6:05)
Exploring some cons of this issue. (10:40)

If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com.

REFERENCES FOR THIS EPISODE: https://www.nbcnews.com/politics/politics-news/desantis-rfk-jr-misconstrue-fednow-digital-dollar- plans-rcna78591

https://www.investopedia.com/us-cbdc-6740586

Ep 14: Understanding The Silicon Valley Bank Collapse and FDIC Insurance

Thu, 30 Mar 2023 05:00:00 -0400

Following the collapse of Silicon Valley bank, you have probably heard a lot of talk about America’s banking situation in the last few weeks. Today, we are here to unpack what happened with the Silicon Valley Bank collapse and whether we should be concerned about other banks as well. We will also take a deeper look at banking insurance and discuss what FDIC insurance covers and what it does not cover.

Here’s some of what you will learn in this episode:

What happened with Silicon Valley Bank? (2:04)
Is this 2008 all over again? (9:52)
What banking insurance protects and what its limitations are. (14:08)
What if some of your funds aren’t covered by financial insurance? (19:47)

Ep 13: Big Changes on the Table for Social Security

Thu, 16 Mar 2023 05:00:00 -0400

The future of Social Security is a concern on the minds of all Americans. People are constantly wondering whether the money will run out before it comes time to claim their benefits. While the worries are justified, there’s a good chance the government will make changes to the program to keep it funded for generations to come. We want to take time on this podcast to make sure you understand what the changes mean and how they could impact you and younger generations.

Here’s some of what you will learn in this episode:

The facts about Social Security and what’s most important to know. (2:00)
When will the Social Security funds run out? (6:04)
One of the biggest changes we could see is the age for full retirement. (9:59)
Tax increases being discussed. (11:27)
What planning changes should you be making with all these questions surrounding Social Security? (14:40)

Read the CNBC article: https://www.cnbc.com/2023/03/04/social-security-reform-may-mean-changes-to-retirement-age- payroll-tax.html

Ep 12: Empty Nesters – Balancing Financial & Personal Goals

Thu, 02 Mar 2023 05:00:00 -0500

On episode 12 of Your Financial Compass, Scott has some great advice for empty nesters. You might think your budget's about to open up when the kids move out, but a recent study shows that parents don't always end up with more money in their pockets. Scott explains the challenges of lifestyle inflation and gives some tips on where to invest those extra dollars if you’re able to stay disciplined.

But it's not just about the money. Scott also talks about the softer side of retirement planning - creating a life plan for retirement and finding ways to spend your time that bring value to your life and those around you.

If you're an empty nester or just getting ready for retirement, you don't want to miss this episode.

Here’s some of what you will learn in this episode:

Empty nesters and lifestyle inflation. Scott details some highlights of a recent study that finds that parents don’t always automatically have more money in their pockets just because the kids have left the home. (3:34)
If you can stay disciplined, you should have additional money to save for retirement once the kids leave. Scott gives us some ideas on where you might want to invest those dollars. (8:45)
What does a life plan for retirement look like? (11:40)
Have you thought about how you’re going to spend your time in retirement in ways that bring value to your life and the lives of those around you? (14:00)

If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com.

Yahoo! Article About Empty Nesters Mentioned In The Episode:

https://finance.yahoo.com/news/empty-nester-avoidable-mistake-could-140059606.html?guccounter=1

Ep 11: The Bucket Strategy – A Simple Approach with Powerful Results

Thu, 16 Feb 2023 05:00:00 -0500

On episode 11 of Your Financial Compass, Scott introduces us to a strategy that can help you achieve your financial goals in retirement - The Bucket Strategy. The Bucket Strategy is a simple yet powerful approach to organizing your investments and ensuring that you have a reliable stream of income in retirement. It consists of three "buckets" - Safety, Income, and Growth.

In this episode, we'll be exploring each of these buckets in detail and discussing how they can help you achieve financial security. Scott will provide specific examples of what kinds of investments you typically see in each bucket and how risk and time horizons play an important role in utilizing the strategy.

By the end of this episode, you'll have a clear understanding of The Bucket Strategy and how it can help you achieve financial security.

Here is some of what you will learn in this episode:

Scott introduces The Bucket Strategy and its components of safety, income and growth. (1:10)
Visualizing the three buckets involved in the strategy. (2:27)
The Income Bucket. If you’re retiring, what streams of income are going to provide you with ongoing dollars to fund your lifestyle? (3:26)
The Safety Bucket. This might be money that you don’t need right now, but might need to tap into it in a few years. (6:50)
The Growth Bucket. Most of the dollars in this bucket are positioned for long term growth. Scott explains why it’s ok that money in this bucket is exposed to more risk. (8:42)

Ep 10: Can Buffer Funds Help During Market Turbulence?

Thu, 02 Feb 2023 05:00:00 -0500

Last year was a very turbulent year in the stock market and many people will look back on 2022 without many good things to say, but some positives emerged out of the turbulence. Today we’ll share one of those for us and that was our exposure to Innovator Funds.

Bennett Feyerer, External Sales Consultant with Innovator, joins us today to talk about these Defined Outcome ETFs or ‘buffer funds’ as we call them. We’ve been utilizing them quite a bit since the market turbulence started and wanted to tell you about them on this podcast.

Here is some of what you will learn in this episode:

· Background on Bennett and Innovator. (1:40)

· How these buffer funds work. (4:01)

· How the downside buffer stays the same but the cap changes. (7:29)

· What Innovator does to stay competitive in this space and provide for its investors. (12:12)

· The bond alternative product they offer that works on a shorter time frame. (14:38)

· How might these funds change in the coming years as economic conditions change? (16:01)

Ep 9: SECURE Act 2.0 – Retirement Changes You Need to Know

Thu, 19 Jan 2023 05:00:00 -0500

Scott will provide an overview for you in this episode by walking through some of the finer points of the SECURE Act 2.0. Plus, we’ll also spend a few minutes talking about the inflation adjustments to retirement plans that are coming and how much more you’ll be able to contribute.

Here is some of what you will learn in this episode:

· The RMD age pushed back again from 72 to 73. (3:14)

· The penalty for missing an RMD withdrawal has been reduced. (5:50)

· People in their early 60s will have another chance to increase catch-up contributions. (7:33)

· People paying off student loans might have the opportunity to receive their company 401(k) match. (10:18)

· Inflation adjustments are being made in retirement accounts. (12:37)

Ep 8: Pulling the Positives from a Negative Economy

Thu, 05 Jan 2023 05:00:00 -0500

It’s not news that the economy has been quite turbulent over the past year and there’s been plenty of negativity to sift through as an investor. We can’t ignore those negative elements but we want to turn that around today and focus on the positive side of the current market conditions.

We’ll do that on this episode by breaking it into three parts:

· Update on inflation and the monetary policy

· Are we in a recession yet and what that looks like

· Planning now can help you live your life

Hopefully this episode will provide a little more clarity into what we’re facing right now and the steps you can take to get ahead of a possible recession in 2023.

Here is some of what you will learn in this episode:

· The updated figures on inflation that’s led to this downturn. (3:14)

· What’s next for inflation and what other actions will the Fed take? (6:26)

· Are we in a recession? (9:50)

· What actions can we take right now to prepare for a recession and best position ourselves? (15:25)

· Why you need to be assessing whether you should be changing the framework of your investments? (21:00)

Resources referenced on this show:
https://www.cnbc.com/2022/11/14/fed-vice-chair-brainard-says-it-may-soon-be-appropriate-to-move- to-slower-pace-of-rate-hikes.html

https://www.naahq.org/november-2022-inflation-tracker

Ep 7: What Exactly is a Trust?

Thu, 15 Dec 2022 05:00:00 -0500

Today we want to spend some time really delving into what a trust is and why someone would choose this over a will. To help us with this topic, we’ve invited Mike Bennett of MCB Estate Planning to the show. He’s one of our estate planning partners who has more than two decades of experience and understands the ins and outs of a well-constructed estate plan.

Here is some of what you will learn in this episode:

· The main differences between a will and a trust. (2:48)

· What probate is and why you’d want to avoid this for your estate. (4:02)

· What makes people hesitant to get their estate plan finished? (6:45)

· Some of the common scenarios where a trust can benefit someone. (9:49)

· Why you should be reviewing your trust every three to five years. (17:29)

· How does moving out of state impact a trust that you already set up? (21:10)

· The situations where a trust might not be necessary for you. (22:57)

Ep 6: What to Know About Required Minimum Distributions (RMDs)

Thu, 01 Dec 2022 05:00:00 -0500

As the end of the year approaches, people start taking a closer look at those tasks that need to be finished before the calendar changes. One that always comes up around this time is Required Minimum Distributions (RMDs).

Since we get questions on RMDs quite a bit, let’s dive in a little deeper on what you need to know. What do these actually mean? Who does it apply to? How might it change in the coming years? We’ll answer those questions and more on this episode.

Here is some of what you will learn in this episode:

· What is an RMD? (2:21)

· How do you determine how much needs to be taken out? (6:36)

· The penalty you face if you forget to take your RMDs. (9:23)

· What would the SECURE Act 2.0 change about RMDs? (12:28)

RMD references - https://www.investopedia.com/terms/r/requiredminimumdistribution.asp

Ep 5: Annuities 101 - Everything You Need to Know

Thu, 17 Nov 2022 05:00:00 -0500

Since annuities are one of the more polarizing financial products out there, let’s take a step back and look at what annuities do and what options are out there. Then we’ll evaluate the pros and cons so you can start forming your own opinion.

Here is some of what you will learn in this episode:

· The different types of annuities and how they work. (3:37)

· The cons of fixed annuities. (9:33)

· The cons of variable annuities. (14:47)

· The pros of annuities. (17:44)

· The important jargon you need to know with annuities. (23:59)

Additional Annuity Resources:

https://www.investopedia.com/terms/a/annuity.asp

https://www.investor.gov/introduction-investing/investing-basics/investment-products/insurance-products/annuities

Ep 4: Navigating a Potential Recession

Thu, 03 Nov 2022 05:00:00 -0400

Today we want to approach the conversation of navigating a recession from a few specific angles. First, how did we get here and what’s causing it? Then we’ll look at some of the past recessions and see what we can learn from that experience. And finally, what are some of the practical things we can do to reduce our risk during a recession?

By the end of this conversation, hopefully you will have learned something about recessions and picked up an action item to apply to your financial plan.

Here is some of what you will learn in this episode:

· How did we get here and what factors have led us to a recession? (2:41)

· The strength of the dollar and the issues it causes around the world. (6:04)

· What can we learn from past recessions? (11:52)

· What can you do now to prepare for a recession? (17:33)

· Now is the time to assess the risk in your portfolio and make any necessary adjustments. (21:01)

Ep 3: Financial Acronyms & Concepts You Should Know

Thu, 27 Oct 2022 05:00:00 -0400

On this episode, we’re going to break down five different acronyms and concepts that you’ve probably heard of but might not completely understand. Here’s what we’ll cover today:

RMD
FRA
ETF
Compound Interest
60/40 portfolio

The most important thing about any decision you make in financial planning is that you completely understand it, and that’s what we’re hoping this show will help you do.

Here is some of what you will learn in this episode:

· What is an RMD and why does it matter to you? (2:51)

· How the SECURE Act 2.0 could change RMDs. (7:53)

· How FRA affects your Social Security. (10:54)

· Investing in ETFs compared to mutual funds. (12:33)

· What is a 60/40 portfolio? (19:42)

Ep 2: What Exactly is a Financial Plan?

Thu, 20 Oct 2022 05:00:00 -0400

On this episode, we want to help you better understand the idea of planning by discussing what is and what isn’t a financial plan? We’ll also take you deeper into our process by highlighting the five worlds of investing and financial planning we focus on.

Your plan is meant to be a compass for the rest of your life so building it with all of these different factors in mind will help give you confidence that you’re heading in the right direction.

Here is some of what you will learn in this episode:

· The biggest misunderstanding people have about what a financial plan is. (2:00)

· What we mean by tax planning and why it’s a big piece of the overall plan. (7:49)

· How legacy planning factors into the decisions we make for clients. (10:54)

· When should you start your financial plan? (18:09)

· Hear some of our favorite financial planning client stories. (23:24)

Ep 1: Getting to Know Scott Vlahon and Chris Bulman

Thu, 06 Oct 2022 05:00:00 -0400

Welcome to the very first episode of “Your Financial Compass”! I’m your host, Scott Vlahon, Senior Financial Advisor with Bulman Wealth Group.

For this first episode, we will be joined by Chris Bulman, Founder and Leading Advisor at Bulman Wealth Group. Chris shares about himself and his family, as well as the history of Bulman Wealth Group. You will also get to learn who I am, and what I will be sharing with you on “Your Financial Compass”.

WHAT YOU'LL LEARN ON THIS EPISODE:

· What “Your Financial Compass” will be sharing on the podcast. (0:42)

· Listen here to learn who we are and the journey that led us here. (1:35)

· How business dynamics can change as you grow in your career. (9:09)

· When family values build loyalty in your clients. (11:47)