Macon Money Podcast

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

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 the questions we are going to dive into in this episode: How much are my tax-deferred savings going to cost me in taxes? How much can I withdraw from my savings each year? Should I still have life insurance when I’m retired? How much am I really paying in fees and commissions?   Check out Episode 96 here   Want to set up a meeting with us? Visit us here: http://talkwithjp.com   Get more financial education at http://myretirementclarity.com    

Welcome back to My Retirement Clarity! This week, we’re diving into the listener mailbag to answer your questions. We’re covering a variety of topics today, many of which get asked in the office quite often. From investing in your grandkid’s college fund to how much to spend on a forever home, this episode is sure to have a takeaway for everyone.   Here are a few of the questions we answer in this episode: I’d like to start investing for my grandchildren. Should I set up a 529 plan for them or invest on my own and give them the money when they go to school? How much is too much to spend on our forever home in retirement? My husband died 15 years ago and I’m thinking about moving in with my boyfriend, but it makes me nervous to think about selling my house and combining finances. How do you advise people in a situation like this? I’ve talked with a few different advisors about how they get paid, and it sounds like they all have completely different models. Are there this many different fee structures or does

Are we on the brink of a retirement renaissance or stormy seas ahead? On this episode, we jump into the pressing issues of Social Security, healthcare, taxes, stock market trends, and long-term care. Whether you're an eternal optimist or cautious pessimist, this episode will equip you with perspectives to plan your retirement years with confidence as we ask the longstanding question, “Is the glass half full or half empty?”   Here’s some of what we discuss in this episode: Politicians are unlikely to make drastic changes to Social Security due to voter concerns, however, there could be potential benefit cuts for younger generations Lee expects healthcare costs to continue rising, despite technological advancements It’s almost certain the tax rates will increase in the future. Lee encourages proactive tax planning to mitigate future tax burdens, especially given the current trend of rising taxes Long-term care is expensive, and long-term care insurance options have become limited Despite short-term market fluct

Are you nearing “retirement age”? If so, let’s explore that pivotal question you’ll soon face: Should you retire or continue working? We’ll unravel the intricacies of this decision, addressing both financial and emotional aspects, and help you find out if you’re truly ready to retire.   Here are some key takeaways from this episode: Usually people have enough money saved to retire but need to run the numbers to discover that. Couples need to talk about the adjustment to retirement and how they’ll handle that extra time. People will get hung up on ‘retirement age’ but you might be able to retire earlier. The importance of financial education when it comes to feeling confident in retirement. How we have the conversation with someone who is ready to retire but aren’t in a position to financially. Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Welcome back to the My Retirement Clarity podcast! Today, Lee and Ben dive into a Yahoo Finance that claims someone lost over $400,000 of their retirement savings in a Roth IRA. Is the Roth IRA really to blame, or is there more to the story?   Here’s an overview of what we discuss in this episode: Tax planning and tax diversification are essential aspects of retirement planning. Understanding the potential impact of rising taxes in the future is crucial for making informed decisions. Roth IRAs can be a valuable retirement tool, especially for those in lower tax brackets or those willing to engage in strategic Roth conversions. Lee cautions against taking financial advice solely from sensationalized headlines or anonymous online comments. Instead, seek guidance from qualified financial professionals.   Yahoo Finance Article: https://finance.yahoo.com/news/lost-400k-retirement-savings-roth-174006044.html   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at h

This week, we’re switching things up to talk about a very important topic: health and wellness! Join us as we sit down with the inspiring health and wellness expert, Lizzie Gossett, who has played a vital role in helping Lee lose an incredible 34 pounds in 3 months. We’re excited to have her on the podcast today to share her insights on prioritizing and maintaining your health.   Here are some key takeaways from this episode: The importance of shifting from short-term diets to a long-term lifestyle change. Developing a strong "why" and viewing health as a continuous journey fosters lasting success. Small, sustainable changes in eating habits led to significant results. Finding an exercise routine that suits your preferences and incorporating accountability measures can help develop consistency. The importance of ongoing support and adapting to different life stages. Maintaining health requires flexibility and dedication, whether through coaching, accountability, or adjusting habits during special occasions.

Ever been on the receiving end of ‘the look’ from your spouse? In this episode, Lee recounts the dreaded look he got from his wife a few weeks ago after a meticulously planned family trip to the Bahamas was almost derailed due to a passport oversight- discovered a mere 21 hours before departure. In this episode, Lee shares his crazy adventure of acquiring passports for his two kids in just 7 hours.   Here are some key takeaways from this episode: Lee talks about his horrifying realization that his family had some expired passports, less than 24 hours before his family was supposed to depart for the Bahamas Don't rely solely on travel agencies or other parties to ensure your documents are valid. Take personal responsibility for checking and maintaining your travel-related documents When faced with unexpected challenges, don't hesitate to seek help and utilize available resources. In this case, Lee’s connection to a state representative's office played a pivotal role in securing an expedited passport appointmen

We’re back with a bonus episode on resolving financial tension between couples! After popular demand, we’re exploring five more common areas of financial tension: retirement housing, emergency funds, handling inheritances, insurance, and spending habits. Stay tuned to learn how advisors like Lee work to resolve conflicts in these areas as they arise.      Here’s what we’ll discuss in this episode: Couples may face tension when deciding where they want to live in retirement. Financial considerations, such as the cost of moving and downsizing, can influence this decision. Couples may have different risk tolerances and views on how much to keep in an emergency fund. Inheritances can cause tension if there are disagreements about how to use the money. Some may want to pay off debt, while others may want to enhance retirement savings or lifestyle. Couples may have differing views on insurance needs, such as life insurance and long-term care insurance. Finding a balance between adequate coverage and cost can be

Money can't buy love, but it can certainly start some spicy debates between you and your better half. In this episode, we're digging into the financial face-offs that make Monopoly fights look like child's play and exploring some money minefields that can test even the most solid relationships. Listen in as we explore how to resolve some of the most common financial sources of tension between couples in retirement.   Here’s what we’ll discuss in this episode: Disagreeing on risk tolerance in your portfolio. (4:10) Figuring out what age to retire. (6:43) Being on the same page about legacy planning in second marriages. (11:01) Determining your retirement lifestyle as a couple. (13:24) How are you going to handle financial management in retirement? (16:19)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com    

Celebrate the spirit of the month with our latest episode as we tackle the concept of financial independence. While the American colonists fought for freedom from British rule, Lee is here to discuss what you’re striving to be independent from in your retirement. We’ll unveil the common foes you’ll face on the journey. And good news, no muskets required for these battles!   Here’s what we’ll discuss in this episode: Avoiding being too dependent on the government in retirement. (2:38) Not having to rely on financial support from your children in retirement. (5:40) Independence from creditors- going into retirement with little or no debt. (8:40)   Get Dave Ramsey's The Total Money Makeover here Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com  

Everybody wants to make money, but nobody wants to lose it. In today's episode, Lee discusses a specific investment strategy that aims to limit downside risk while offering attractive upside potential. This strategy, known as a Defined Outcome ETF or Buffered ETF strategy, provides a unique approach to investing, especially in uncertain times like the current economic environment. While this strategy may not be suitable for everyone, it offers an appealing balance between security and growth. Join us as we take a closer look at how ETFs work and discuss who they could potentially benefit.   Here’s what we’ll discuss in this episode: What is an ETF and how does it work? (4:46) The tradeoff with this strategy. (6:40) Who might this strategy benefit? (8:59) This investment is 100% liquid. (11:44)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Don’t get us wrong. In many cases, your 401(k) can be your best investment vehicle, offering numerous benefits and tax advantages and many times a 100% return on some of your contributions (also known as an employer match). However, it's important to recognize that it might not always be the optimal choice for everyone. Join us in this thought-provoking episode as we dissect some reasons why someone should NOT invest in a 401(k).   Here’s what we’ll discuss in this episode: Having an emergency fund in place before you contribute to your 401k. (3:55) If your employer doesn’t match contributions to your 401k. (6:21) Tackling debt before you start investing. (8:16) Moving your money out of old 401ks if you no longer work for the company.  (13:07) Limited investment options and hidden fees. (16:09)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

In today’s episode, Lee will talk about one of the most important discussions you should have with your family once you enter the fourth quarter of your life. Although talking about what will happen to your money and possessions once you pass away can be uncomfortable, this conversation is critical. Doing so has the potential to preserve and safeguard the bonds within your family and avoid unnecessary heartache and confusion. Stay tuned as Lee unpacks the moving parts involved in this conversation and shares some tips to help you navigate this emotional terrain.    Here’s what we’ll discuss in this episode: One of the most important conversations that can take place during your lifetime + why people avoid this conversation (1:31) Communicating your burial wishes. (4:26) Letting your kids know that they will receive a portion of your retirement savings after you pass. (5:39) What about non-retirement accounts and personal property? (9:27) The importance of having inheritance conversations before you pass. (12

Picture this: You're at your retirement party, finally ready to enjoy your golden years, but worries caused by some bad money habits have robbed you of fully enjoying the sweetness of the day. It happens to more people than you think, which is unfortunate because with just a little bit of modification, you can rid some of the worst money habits from your life and set yourself up for retirement success.    Here’s what we’ll discuss in this episode: The danger of ignoring your account statements. (3:01) Taking action instead of putting off financial decisions. (5:50) Investing emotionally instead of strategically. (11:28) Pulling money out of an emergency fund for non-emergencies. (14:50) Inadequately diversifying your financial portfolio. (17:48)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Recently, the media has been flooded with information about the debt ceiling issues, fueling fears and speculation. However, it's important to recognize this as political theater, with each side playing their role and blaming the other. In this episode, Lee dives into the reality behind the scenes, reminding you that this is not a unique event and that the debt ceiling has been raised numerous times in the past. In the midst of the noise, it's crucial to focus on what truly matters- the performance of your investments and your long-term strategy. Join us as we talk about navigating these turbulent times and securing the retirement you deserve.   Here’s what we’ll discuss in this episode: The debt ceiling is nothing but political theater. (2:53) Since 1960, the debt ceiling has been raised or extended 78 separate times. (5:22) The next few weeks will be even more predictable. (8:11) Is the news making you question your financial strategy? (12:34)   Want to set up a meeting with us? Visit us here: http://talk