SML Planning Minute
SML Planning Minute podcasts provide timely and thought-provoking financial ideas and concepts for individuals, families and business owners. Be sure to listen in! Simply click on a topic below to access a podcast. You can also subscribe to one of the many service providers to listen on the go.
Go Beyond Financial Considerations when Deciding to Downsize
Episode 310 – When you get past a certain age, downsizing always seems to sound like a good idea. But is it really? What are the really important considerations you need to keep in mind? Continue Reading Go Beyond Financial Considerations when Deciding to Downsize
One Third of People Have More Credit Card Debt Than Emergency Savings
Episode 309 – According to a recent study, an astounding 36% of Americans have more credit card debt than emergency savings, and 27% have no emergency savings at all. These sobering statistics spotlight a glaring hole in many Americans’ finances. If this is you, how do you start to climb out? Continue Reading One Third of People Have More Credit Card Debt Than Emergency Savings
5 Ways to Use Home Equity as a Source for Retirement Income
Episode 308 – For many, many people, their home is their biggest asset. Can you use your home to fund a portion of your retirement? It’s not ideal, but here are five ideas you can try if you need to. Continue Reading 5 Ways to Use Home Equity as a Source for Retirement Income
Six Ideas on How to Manage Debt
Episode 307 – According to an estimate by Experian, the average American adult holds $6,501 in credit card debt. Is there a way out? Here are six things that you might want to try. Continue Reading Six Ideas on How to Manage Debt
Behavioral Economics, and How it Affects Your Financial Decisions Revisited
Episode 306 – Behavioral economics has become a buzzword over the last few years. But understanding its role in making financial decisions can lead to a better outcome. Continue Reading Behavioral Economics, and How it Affects Your Financial Decisions Revisited
Business Succession Planning Needed More Now Than Ever
Episode 305 – It has never been a more important time to consider business succession planning for small business owners to ensure that their financial security, retirement and family legacy plans are fulfilled. Continue Reading Business Succession Planning Needed More Now Than Ever
Connecting the Dots: Using Life Insurance With Social Security
Episode 304 – Even when you optimize your Social Security claiming strategy, there are still going to be problems that need fixing. Life insurance can be the perfect tool to address some of the shortcomings that Social Security creates. Continue Reading Connecting the Dots: Using Life Insurance With Social Security
Does It Make Sense to Give Money to Your Kids While You’re Still Living?
Episode 303 – “Accelerated inheritance” is a new term for an old idea: giving assets to your kids while you’re still living, rather than waiting until you die. But does it work? Continue Reading Does It Make Sense to Give Money to Your Kids While You’re Still Living?
Nine Thoughts on Divorce and Finance
Episode 302 – Is divorce ever easy? Almost never. And the financial aspects can be especially tricky. Here are 9 thoughts that may help you weather the storm. Continue Reading Nine Thoughts on Divorce and Finance
Planning for Single Parents Revisited
Episode 301 – Single parents must have their financial house in order, through insurance, financial and estate plans, to help protect their sources of income, existing assets and their children. Continue Reading Planning for Single Parents Revisited
Why You Need a Real Person to Help With Your Life Insurance Needs
Episode 300 – Anyone who has ever tried to call a large bank or medical practice knows one simple truth: It’s becoming increasingly difficult to talk to a real person. But that’s just what so many of us need. The case for interaction with a real people is especially important when it comes to life insurance. Continue Reading Why You Need a Real Person to Help With Your Life Insurance Needs
Important Retirement Savings Rules Changes You May Have Missed
Episode 299 – The Secure Act and Secure 2.0 were both designed to assist people when it comes to saving for retirement. But as with any new law, the rules can be confusing, and some of the provisions are still being phased in. Continue Reading Important Retirement Savings Rules Changes You May Have Missed
Planning is a Dynamic, Not a Once-and-Done, Process
Episode 298 – No matter what was planned for, the plan must be regularly reviewed and updated to meet changing family, financial, economic, political and legal environments. Planning is a dynamic process that doesn’t end. Continue Reading Planning is a Dynamic, Not a Once-and-Done, Process
Millennials, Gen X and Gen Z Need to Prepare for Retirement Now Revisited
Episode 297 – Whether you’re hoping to achieve financial independence and retire early as part of the FIRE movement or later, Millennials and members of Gen Z and Gen X need to prepare for retirement now. Continue Reading Millennials, Gen X and Gen Z Need to Prepare for Retirement Now Revisited
Celebrity Estates: Discord in Tony Bennett’s Family
Episode 296 – The death of Tony Bennett in 2023 seems to have created a family rift that is now playing out in court. Could it have been prevented?
Continue Reading Celebrity Estates: Discord in Tony Bennett’s Family
Can You Save Too Much for Retirement?
Episode 295 – Is it possible to save too much for retirement? Some have argued that the answer is yes, but with caveats.
Continue Reading Can You Save Too Much for Retirement?
The IRS Digs Deeper
Episode 294 – For several years, the IRS has been focusing its audit activity on people making more than $10 million per year. But the results have been disappointing, and the IRS has decided to aim lower.
Continue Reading The IRS Digs Deeper
Estate Tax Uncertainty – Will We or Won’t We? A Potential Solution for Married Couples
Episode 293 – As we get closer and closer to the sunset of the estate tax provisions in the Tax Cuts and Jobs Act of 2017, wealthy married couples have options to remain flexible with their planning using survivorship life insurance. Continue Reading Estate Tax Uncertainty – Will We or Won’t We? A Potential Solution for Married Couples
Don’t Make This Million-Dollar Mistake with Your 401(k)!
Episode 292 – Don’t make a million-dollar mistake, as Jeffrey Rolison apparently did, by failing to regularly review and update the beneficiary designation on his company sponsored retirement plan. Continue Reading Don’t Make This Million-Dollar Mistake with Your 401(k)!
Does State Taxation Cause the Wealthy to Move to Different States? – (Revisited)
Episode 291 – States with high income and estate taxes may cause the wealthy to move to another state with one or the other, but not both taxes. Continue Reading Does State Taxation Cause the Wealthy to Move to Different States? – (Revisited)
