Macon Money Podcast

We get a lot of questions about 401(k)s because they can be tricky to navigate. So, in today’s episode, we’re tackling some of the most frequently asked questions about 401(k)s. Tune in for a comprehensive breakdown of what they are, how they work, and how you can make the most of them! We’ll cover everything from understanding company matches and target date funds to the pros and cons of 401(k) loans and rollovers into IRAs. This is a super informative conversation that you don’t want to miss! Here’s what we discuss in today’s show: Should I use company-provided 401(k) guidance? Should I use target date funds? When should I take money out of my 401(k) and roll it over into an IRA? How should I adjust my 401(k) investments as I get closer to retirement? Can I make catch-up contributions to the 401(k)? If so, when?   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com  

We’re thrilled to welcome the Mayor of Macon, Lester Miller, to the My Retirement Clarity podcast today! If you’re from the area, you’re familiar with who he is and some of the incredible things that have happened under his leadership. With the reputation of Macon on the rise, we thought it would be fun to discuss some of the key projects that have made the city a must-visit destination. From the world's largest indoor pickleball facility, Rhythm & Rally, to a vibrant new amphitheater and a revitalized downtown, there's so much happening in Macon- and even more on the horizon. If you want to learn more about the exciting developments in Macon and hear directly from Mayor Lester Miller, this episode is for you!   Here’s what we discuss in today’s show: Macon’s recent National recognition and affordability The origin story of the Rhythm & Rally Pickleball Facility The process of developing the amphitheater + the importance of music in Macon Revitalizing downtown and future plans for the mall and more At

With tax rates set to change soon and national debt on the rise, tax planning might be the most critical piece of retirement planning right now. That’s why we wanted to catch up with David Brooks, a renowned tax expert from Omaha, Nebraska. David, who we consider a tax guru, shared invaluable insights into the world of tax strategies, proactive planning, and the future of tax policies. If you’re looking to optimize your tax planning, this conversation should give you   For those that aren’t as familiar with our current tax landscape, we’ll spend some time on the details of today’s taxes and how to prepare for future changes. With the national debt crossing $35 trillion and interest expenses skyrocketing, it's crucial to anticipate how tax policies might shift post-election. Regardless of political affiliations, we should all be focusing on policy implications and be planning accordingly.   Join us as we get into the tax strategies we’re utilizing in 2024 and why this proactive tax planning can really help mit

We all make excuses from time to time for decisions we know might not be the best. Whether it's about our health, relationships, or finances, excuses can hold us back from achieving our long-term goals. Very often, Lee sees people who know that the financial decisions that they’re making aren’t the best decisions, but they try to create excuses or explanations for why they’re doing what they’re doing. From making Social Security decisions based on fear to taking on too much risk to make up for lost time, he’ll address some common areas where he sees this happening. Let’s talk about why these excuses usually don’t hold water… Here’s what we discuss in today’s show: Claiming Social Security at age 62 due to fears of it running out of money Taking too much risk to make up for lost time Holding onto too much cash to keep your money safe Investing in things you don’t understand Sticking with a financial advisor out of loyalty, even when you should switch   Want to set up a meeting with us? Visit us here: http://t

In this episode, host Lee Perkins sits down with Keith Dykes, the newest member of the JL Perkins Wealth Management team. Originally a Zoom call, this engaging interview explores Keith's background, family life, and journey to becoming a financial advisor. Learn about Keith's transition from agronomy to finance, his dedication to client service, and the values that align him perfectly with the team. Keith joined the JL Perkins Wealth Management team in 2023 as a financial advisor. His background includes being a successful entrepreneur & business owner with additional experience in Tax and Insurance. He graduated from the University of Georgia in 1998 with a BSA in Crop Science. When not at work, Keith enjoys spending time with his wife Lisa and his two daughters Ashlyn and Avery. He spends his spare time golfing, watching UGA football, hiking, traveling, and experiencing different cultures around the world.   Here’s what we discuss in today’s show: 0:49 - We've added another member to our wealth manageme

Just like an annual checkup is important for maintaining good health, performing regular financial checkups is an essential part of planning for a healthy and successful retirement. These check-ins help catch potential issues early and allow you to adjust your plans as needed. By regularly reviewing your budget, goals, and progress, you can make informed decisions to stay on track financially. Although financial wellness will look different for everyone, we’ll share some areas you should be paying attention to in today’s episode. Don't miss these valuable insights to ensure your financial health is in top shape! And if you have any questions about your financial health, be sure to reach out to Lee and his team for personalized guidance.   Here’s what we discuss in today’s show: Monitoring budgeting and spending habits + keeping up with your credit score Maintaining an emergency fund to handle unexpected expenses and emergencies The importance of diversification + being aligned with your risk tolerance Proacti

Many people have preconceived notions about what retirement should look like. Oftentimes, TV commercials and retirement shows paint this as a time of life full of endless beach days and exciting vacations. The reality of retirement, however, can be quite different from our expectations. Listen in as we explore why a realistic approach to retirement, inclusive of financial planning and the potential for unexpected challenges, is crucial. After all, life is full of surprises, and this phase of life is no exception. Luckily, you don’t have to (and shouldn’t) plan for the “what ifs” alone.   Here’s what we discuss in today’s show: Retirement is different for everyone, so it’s important to manage your expectations Many people underestimate how much they will spend once they retire You need to be ready to adjust your plans when unexpected changes occur Retirement planning is difficult, and it’s okay to ask for help   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial educatio

Sometimes, the lessons we learn the hard way stick with us the longest. This is especially true when it comes to financial decisions. In today’s episode, Lee shares a personal story that serves as a stark reminder of how being cheap can end up being very expensive. In this conversation, Lee recounts how his reluctance to invest in a security system for his new Dodge Ram 1500 TRX led to an expensive loss when the vehicle was stolen. Unfortunately, this led to weeks of stress and logistical nightmares like changing the locks to his house and dealing with insurance. Listen in as Lee talks about the financial and emotional implications of being penny-wise and pound foolish, and discusses the importance of seeing value in investments, whether it's for vehicle security or financial advisory services.   Here’s what we discuss in today’s show: The story of Lee’s truck being stolen at the Atlanta airport Dealing with the aftermath of theft, including insurance claims, changing locks, and replacing stolen items How inv

Losing a spouse is an incredibly difficult event that can leave one feeling lost and overwhelmed emotionally and financially. In today’s episode, Lee is going to take us behind the scenes and share the stories of two clients who faced the sudden loss of their husbands. He’ll offer insight into how each of them coped differently with their loss, and how the J.L. Perkins team helped them navigate this difficult transition. Listen in as Lee shares why it is so critical to have a plan in place and a financial advisor in your corner in the wake of tragic circumstances. He also stresses the importance of couples being actively engaged in their finances with a clear understanding of their financial situation. While this is not a scenario anyone wants to face or think about, sharing these stories can help you prepare should you or someone you know ever find themselves in a similar situation.   Here are the questions we answer in today’s show: The stories of two women who lost their spouses + how they handled loss dif

In today's episode of My Retirement Clarity with Lee Perkins, we dive into a story of transformation, perseverance, and ultimately, triumph. Lee shares the journey of a client who, at 43, believed retirement was an impossible dream. Saddled with debt, family pressures, and a lack of financial direction, she was overwhelmed by the thought of mandatory retirement at 56 without a clear path forward. Lee recounts how, through meticulous planning and disciplined action, they tackled her challenges step by step. From budgeting and debt elimination to maximizing her 401(k) contributions, her story is a testament to the power of a solid financial strategy and the importance of trust in your financial advisor. As we follow her path to a debt-free life, fully funded emergency and leisure savings, and a growing retirement account, you'll witness the emotional turning point where the possibility of a fulfilling retirement becomes a reality. Lee's client's story is not just about financial planning—it's about the emotiona

Each generation is currently navigating a unique part of the retirement planning experience. With many baby boomers preparing for the transition into retirement and Generation X starting to think more about their retirement savings, these major life events come with a handful of financial planning questions. In today’s episode, we’ll focus on some of the common questions that these age groups are asking. While there’s no universal solution to these questions, this episode will provide some important considerations to keep in mind. By seeking personalized guidance, you can better prepare for your unique situation and set yourself up for a successful retirement. Tune in to see what you can learn from Lee!   Here are some of the questions we answer in today’s show: Baby boomers: "How do I manage the risks of market volatility as I approach retirement?” Baby Boomers: “What are the best ways to maximize my Social Security benefits?” Generation X: “How much do I need saved to actually retire?” Generation X: “What s

As much as any other threat, recognizing and avoiding scams has become an essential skill, particularly for retirees. Join us as we explore crucial steps you can take to safeguard your financial well-being against the growing tide of scams and identity theft. Learn from real-life stories and gain practical advice to keep your finances secure in this digital era, all from the perspective of a seasoned financial professional. From government imposters to sweepstakes, robocalls, and romance scams, we’ll share valuable insights into the tactics used by scammers. We’ll share how to spot red flags and protect yourself against phishing emails, vishing phone calls, and smishing texts before it’s too late. And, in the event that you do fall victim to a scam, we’ll provide actionable steps to mitigate the damage. As technology advances and scams evolve, this conversation is more important than ever. Don't miss out on this opportunity to arm yourself with knowledge and protect your financial future!   Here are the quest

We’ve got a mailbag edition of the show today! We’ve gathered some great questions over the last several weeks that we’re excited to share with you. From the tax implications of financial gifts to navigating retirement spending and overcoming indecision, Lee is here to shed light on a range of real-world topics. Dorothy asks for advice on how to financially support her daughter, who wants to take time off work to be with her newborn baby in the hospital, and what the tax implications might look like. Rose asks how to break the cycle of indecision and make confident financial decisions. We love hearing from you, our listeners! No question is too basic, so if there’s something on your mind that you’d like Lee to answer, be sure to send it our way for your chance to be featured on the show.   Here are the questions we answer in today’s show: “I’m a police officer and have been given medical retirement at 53, but I feel like I need to still be earning money at my age. Any thoughts on how to approach this?” “My da

This episode might be a bit counterintuitive. We’re going to question the real impact of common financial habits. Are the strategies you consider beneficial actually working in your favor? We explore the pros and cons of practices like ignoring account statements and strict budgeting. Join us for a practical discussion, as we uncover the unexpected effects of everyday money decisions. Are your good money habits holding you back?   Here’s some of what we discuss in this episode: Ignoring account statements keeps you from overreacting but what are you missing by doing that too much? Staying on a strict budget will help you achieve financial goals but it can become overly restrictive. Investing in what you know is a good strategy, but it might lead a lack of diversification. Automation makes investing and saving simple but it could lead to disengagement. Is there a downside to paying off all your debt?   Want to set up a meeting with us? Visit us here: http://talkwithjp.com   Get more financial education at htt

Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning. In this episode, we’re diving into the changing landscape of retirement planning. From the complexity of investment options to the future of Social Security, we’ll discuss the obstacles faced by today’s retirees. Tune in as we explore why retirement planning is now more challenging than ever before and offer insights to help you navigate your retirement journey with confidence.   Here’s some of what we discuss in this episode: The shift away from long-term company loyalty and the decline in company pensions The unpredictability of the housing market + high costs and interest rates The increased complexity and risks in today's investment landscape The growing challenges of the “sandwich generation” The strain on Social Security due to fewer

In this episode, Lee reflects on the journey of JL Perkins Wealth Management over the past decade. From its humble beginnings with just Lee and his sister Francesca, the firm has evolved through unexpected transitions, including office expansions and team changes. As JL Perkins Wealth Management celebrates its 10th anniversary, Lee shares insights into the strategic decisions that have shaped the firm’s growth, and how he’s working to adapt to the needs of its growing clientele. Throughout the conversation, Lee emphasizes the importance of planning for the next phase of life, whether it's retirement or another significant transition. He also introduces his new book, Next Phase: How to Retire in a Year or Less Without Regrets, designed to help individuals navigate the complexities of retirement planning with confidence. Tune in for a great conversation!   Here’s some of what we discuss in this episode: The strategic growth of JL Perkins Wealth Management over the past decade Expanding the firm’s team to ensure

Have you ever wondered what questions to ask your financial advisor, or why those questions are crucial? In today’s episode, we’re tackling exactly that. We're discussing the vital questions that bring transparency and depth to your financial advisory relationship.   Here’s some of what we discuss in this episode: The different types of fee structures that advisors will typically have Why your advisor’s investment philosophy is an important thing to know up front Why you want to know what specialty an advisor has Communication is key so you want to know what to expect in terms of frequency Will you be working with a team or a specific advisor?   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

2023 is coming to an end, and, if we had to guess, there are probably some financial tasks you wish you’d taken care of this year. Not to worry, because in this week’s episode, Lee is going to share six planning tips that you can address during the first quarter of 2024. Let’s kick off the new year the right way!   Here’s some of what we discuss in this episode: Keeping the right amount of money in cash Cleaning up old life insurance policies Consolidating old 401ks when you change jobs Reconsidering your managed account that has limited management Updating beneficiary designations as life changes Automating your savings   Want to set up a meeting with us? Visit us here: http://talkwithjp.com Get more financial education at http://myretirementclarity.com

Have you ever stopped to ask yourself about the purpose of the money you’ve worked to save throughout your life? In financial planning, it can be easy to fall into the trap of simply viewing your wealth as a numerical scorecard, measured by monthly statements and investment returns. But as we often remind our clients, retirement planning is not just about the numbers on a page; it's about the life experiences and memories those numbers can create.   Here’s some of what we discuss in this episode: Reevaluating your relationship with money and time, inspired by a book called "Die with Zero" by Bill Perkins What is the purpose of the money you’ve saved? Spending your money with purpose and making the most of your “go go” years in retirement What is the “perfect day” exercise and how can it enhance your retirement planning journey?   Want to set up a meeting with us? Visit us here: http://talkwithjlp.com/ Get more financial education at http://myretirementclarity.com  

The retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these hidden, but essential questions about retirement.    Here are some of the items we discuss in today's show: Pulling money out of your IRA early could mean penalties and taxes you weren’t prepared for. The importance of increasing your savings when your income increases. It’s easy to fall victim to lifestyle creep. How to avoid the regret of paying too much for tuition. Retiring early is a goal for many people but leaving the work force too early can be costly. Why many people wish they would have looked into Roth IRAs sooner.   Want to set up a meeting with us? Visit us here: http://talkwithjlp.com/ Get more financial education at http://myretirementclarity.com