Define Financial

If you're reading this post right now, you have digital assets. In the wrong hands, those assets can be extremely valuable. If your goal is protecting yourself and your heirs from modern pitfalls like... -having your bank account hacked,... -having fraudulent purchases charged to old credit cards, -or identity theft ...it’s critical to have a plan in place to protect your digital assets while you’re alive and once you’re gone. And that’s what today’s podcast is about. To help you hatch a plan to care for the digital assets we often forget about, I interviewed estate planning expert Jamie Hopkins. In today’s show, our expert explains the importance of digital assets in our modern lives as well as steps we can take to prevent unnecessary stress on the people we love the most. Ready to protect your online information? Listen to today’s podcast episode: -via iTunes: https://itunes.apple.com//podca/stay-wealthy/id1260181429 -via Spotify: https://open.spotify.com/show/1qZymBONrPtcHddFqjIg5Z -via Web Browser: https://youstaywealthy.com/how-to-protect-your-digital-asse

Recently, we were working with a client entering retirement. We were helping with her long-term financial plan and she had big (read: expensive) plans. For her golden years, she dreamed of a six-figure remodel on her current home or maybe even purchasing another, larger property.... The good news is that she can afford it. The bad news is that the money she was planning to spend on housing was sitting in her investment portfolio (i.e. stocks and bonds) invested alongside her retirement funds. It’s tempting to put those savings into stocks or bonds to help the money to grow faster. Please don’t give in to that temptation, even if you don't think you are going to use the money for several years. Check out our latest blog post to learn why you shouldn’t invest the money you are saving for a home down payment: https://www.definefinancial.com/b/invest-home-down-payment/

Are you a working professional? If so, now is the perfect time to make smart moves to lower taxes in retirement. Nearing retirement or already retired? Don’t worry, it’s not too late to win the game against the I.R.S. Remember, it’s very possible to have a higher tax bill in retirement than as a working professional.... Where do these taxes come from? -Required Minimum Distributions (RMDs) -Social Security -Pensions -Roth Conversions...and more! Without the proper planning, you could be in for a rude awakening. Check out this week’s podcast episode to learn how you can reduce your tax bill in retirement. I’m breaking it down for you in plain English: iTunes: https://itunes.apple.com//podca/stay-wealthy/id1260181429 Spotify: https://open.spotify.com/show/1qZymBONrPtcHddFqjIg5Z Show Notes: https://youstaywealthy.com/lower-taxes-in-retirement/

Did you know anyone can call themselves a financial advisor? Or a financial planner, a wealth manager, an investment manager the list goes on and on. Believe it or not, these titles have no legal or regulatory meaning. ... They’re not evidence of experience or education. They’re just marketing tools. In fact, you could call yourself a wealth manager right now if you wanted! You don't have to hire me, but don't even think about hiring a financial professional without listening to this week's podcast episode first. The 10 Biggest Mistakes to Avoid When Hiring a Financial Advisor: via iTunes: https://itunes.apple.com//stay-wealthy-san-di/id1260181429 via Spotify: https://open.spotify.com/show/1qZymBONrPtcHddFqjIg5Z Show Notes: https://youstaywealthy.com/financial-advisor-mistakes

Decades of hard work and savings can be wiped away with one bad investment decision. Don’t believe me? Just ask this guy: "I took out a $75,000 mortgage, put it all in bitcoin (at $19,442) and right now I have $48,639 left!!! WTF!!! DO I SELL OR KEEP HOLDING!?!?!" (Twitter, @ProudMoolie, December 21, 2017) If you have any amount of money invested in stocks and bonds (or a home you are tempted to leverage), you need something to protect you from making catastrophic mistakes.... That’s where an Investment Policy Statement (IPS) comes in. Learn more about Investment Policy Statements, what they are, how to create one, and what information should be included in this weeks podcast episode: -Show Notes & Free Template: https://youstaywealthy.com/investment-policy-statement/ -Apple: https://itunes.apple.com//stay-wealthy-san-di/id1260181429 -Android: https://open.spotify.com/show/1qZymBONrPtcHddFqjIg5Z

When you need to make a tough decision, try one of these classic rules from Harvard Business Review for making it a good one: http://ow.ly/LzCi30nc6i6

Banana splits for dinner? Fun! Exciting! Novel! ...but GOOD for you? Of course not. The same thing applies to your #finances, especially when you're #investing: the exciting stuff is probably not so great for your portfolio. Why you might want to go for boring instead: http://ow.ly/H95h30nc6bV

As you get closer to #retirement, these things are important to think about -- and if you need help actually applying this information to your own life, it might be time to reach out to a trusted financial advisor to help ensure you don't make a wrong move: http://ow.ly/u7dy30nc6lM

Are the actions you're taking today getting you closer to where you want to be tomorrow?

Choosing to roll over old 401(k) accounts held with previous employers into one new IRA in your name is likely your best option. Why? Taylor explains some of the main reasons in his latest for Kiplinger:

Isn't it time you optimized your financial life? Make 2019 the year you get organized, move forward, and gain confidence that you're making the right financial choices for you and your family: http://ow.ly/DkCX30n3W30

New Year's Resolutions: Good opportunity to set new #goals, or over-hyped and high-pressure?

Be wary of putting too much value into old #money cliches. The truth is usually a little more complex than what some overused one-liners suggest: http://ow.ly/wfk130n3VUJ