It’s getting down to crunch time in 2024 so what needs to be on your financial planning checklist before we hit the end of the year? As the year draws to a close, it's time to take a closer look at your financial plans and ensure you're on track for a secure future.

In this episode, Matt and Steve provide a comprehensive end-of-year financial checklist that covers everything from maximizing retirement contributions to exploring tax-saving strategies. You might not need to check everything off this list, but reviewing all of these areas will keep your on track for a secure financial future.

Here’s what we discuss in this episode:

0:00 – Intro

1:58 – Max contributions

3:17 – Tax-loss harvesting

5:10 – Check RMDs

7:19 – Charitable contributions

9:18 – HSA & FSA contributions

12:07 – Roth conversions

14:46 – Rebalance

16:25 – Review insurance

18:18 – Pay off debt

20:07 – Gifting strategies

Learn more about us: https://www.rwpaul.com/our-firm

Contact Matt & Steve: https://www.rwpaul.com/contact

Phone: 248-305-9911

Find us on YouTube: https://bit.ly/481OA51

In the latest episode of Retirement Approved, Matt and Steve dive into the glittering world of gold investing. As gold prices reach new heights, we’ll explore the reasons behind this surge and what it means for investors. Gold has always been a hot topic in the investment world, often seen as a safe haven in times of economic uncertainty. But how should it fit into your retirement portfolio?

Here’s what we discuss in this episode:

0:00 – Intro

1:41 – Price of gold

3:15 – The S&P 500 compared to gold

5:48 – Geopolitical factors

8:18 – Gold compared to the money supply

11:03 – Rules for owning gold

13:52 – How do you acquire gold?

17:15 – Other precious metals

Get our ebook ‘Nuggets of Wisdom’ at RetirementApproved.com

Learn more about us: https://www.rwpaul.com/our-firm

Contact Matt & Steve: https://www.rwpaul.com/contact

Phone: 248-305-9911

Find us on YouTube: https://bit.ly/481OA51

Few things get as much attention inn retirement planning as Social Security because of its importance and its uncertain future. Today we’re going to tackle some of the essential planning conversations you need to have about Social Security and clear up the questions people are asking as we head into a new year.

Here’s what we discuss in this episode:

0:00 – Intro

1:21 – 2025 COLA increase

2:49 – When to file

6:55 – No taxes on SS?

10:43 – Solvency

15:33 – When do you file?

Learn more about us: https://www.rwpaul.com/our-firm

Contact Matt & Steve: https://www.rwpaul.com/contact

Phone: 248-305-9911

Find us on YouTube: https://bit.ly/481OA51

Everyone wants to get a leg up on the stock market and make shrewd investment decisions to grow their portfolio. The problem is trying to time the market is incredibly difficult. So many different factors are at play when you’re investing in the market and that’s why even the smartest people get it wrong.

In this episode, we’re going to tackle the age-old question: Is it time to start timing the market? Using a sports betting analogy, Matt and Steve break down the complexities and risks of market timing. We’ll use some eye-opening charts to help you understand the mistakes people make and why staying invested might be your best bet.

Here’s what we discuss in this episode:

0:00 – Intro

2:13 – Market timing is like a parlay

3:45 – Should I get out of the market?

6:18 – Types of investors

8:38 – Overconfidence

9:41 – Election years

11:16 – Mind-blowing chart

13:07 – Even the best get it wrong

Learn more about us: https://www.rwpaul.com/our-firm

Contact Matt & Steve: https://www.rwpaul.com/contact

Phone: 248-305-9911

Find us on YouTube: https://bit.ly/481OA51

The age-old question in retirement planning is how much do I need to retire? For many years, people have made one million dollars their goal as if that’s a sure-fire amount to retire on. It’s a nice round number to aim for, but is it really going to be enough?

Today we bring on Matt Dombrowski, CFP® to discuss the process we go through with clients to help identify the number that they need to focus on. There are three primary questions we ask clients and we’ll share the conversations we have on retirement expenses, budgeting, income, and risk.

We hope by the end of the video, you have a better understanding of what you need to know to determine whether you can retire with $1 million, but it’s always best to seek professional guidance.

Here’s what we discuss in this episode:

0:00 – Intro

0:57 – Background on Matt

2:40 – Expenses and budgeting

5:25 – Income sources

8:01 – Risk

Learn more about us: https://www.rwpaul.com/our-firm

Contact Matt & Steve: https://www.rwpaul.com/contact

Phone: 248-305-9911

Find us on YouTube: https://bit.ly/481OA51

August has been a month of market volatility, leaving many investors feeling uneasy about their portfolios. There’s plenty of reason to believe that it will continue through the rest of the year. So let’s discuss the reasons behind this turbulence and provide our view on how to navigate the remainder of 2024.

We’ll breakdown the different factors that have led to the market’s choppy behavior, including the Japan carry trade, election uncertainty, and recession fears. Matt and Steve also share insights on how to navigate these turbulent times, emphasizing the importance of diversification and having a solid financial plan.

Feeling a little nervous about the months ahead? Tune in to gain valuable knowledge on managing your investments and staying calm during market fluctuations.

Here’s what we discuss in this episode:

0:00 – Intro

3:13 – Market volatility and client emotions

6:35 – Anticipating future market volatility

10:16 – Understanding inflation & market adjustments

12:08 – Diversification and proper planning

14:35 – Final thoughts

Learn more about us: https://www.rwpaul.com/our-firm

Contact Matt & Steve: https://www.rwpaul.com/contact

Phone: 248-305-9911

Find us on YouTube: https://bit.ly/481OA51

An idea that we had years ago has finally come to fruition and we’re excited to debut our new book, Retirement Approved. This comprehensive guide is designed to simplify the complex world of retirement planning, making it accessible for everyone, whether you're approaching retirement or already enjoying your golden years.

For the month of August, you can get the Kindle version of "Retirement Approved" for just $1. That's right, an incredible deal for an invaluable resource! If you prefer a physical copy, clients can stop by the office to pick one up for free. This promotion makes it easier than ever to access expert guidance for your retirement journey.

Here’s what we discuss in this episode:

0:00 – Intro

0:10 – Book launch

0:57 – The concept

2:10 – Easy to read

3:53 – Final thoughts

Retirement Approved by Steve and Matt Paul - https://www.amazon.com/Retirement-Approved-Steven-Paul/dp/196404619X

Learn more about us: https://www.rwpaul.com/our-firm

Contact Matt & Steve: https://www.rwpaul.com/contact

Phone: 248-305-9911

Find us on YouTube: https://bit.ly/481OA51

Retirement should be a time of relaxation and enjoyment, but it can quickly become a period of stress if you haven’t addressed the biggest risks to your financial security. Today we’re going to identify the five biggest risks that could derail your retirement plan and discuss ways to combat these risks through planning.

Understanding these five major risks can help ensure that your retirement stays on track and you’re able to enjoy it as much as possible. Join us for a deeper dive into each risk and practical advice on how to safeguard your financial future.

Here’s what we discuss in this episode:

0:00 – Intro

2:08 – Sequence of Returns Risk

8:32 – Longevity Risk

11:00 – Inflation Risk

14:40 – Long-term care Risk

18:00 – Tax Risk

20:38 – Bonus Risk

Learn more about us: https://www.rwpaul.com/our-firm

Contact Matt & Steve: https://www.rwpaul.com/contact

Phone: 248-305-9911

Find us on YouTube: https://bit.ly/481OA51