Macon Money Podcast

Are you ready to take control of your finances during life's most pivotal moments? In this episode, we dive into the complex world of financial decision-making during key life events. From the excitement of marriage and the joy of welcoming a new child to the challenges of divorce and the loss of a loved one, Lee will provide practical tips and guidance to help you make informed decisions and maintain financial stability.   Here’s what we’ll discuss in this episode: Combining your finances after marriage + prenuptial agreements. (3:16) Planning for what-if scenarios, such as job changes. (9:02) Financial changes that occur after having or adopting children. (12:00) Making financial decisions after the death of a spouse. (16:09) Financial decisions leading up to retirement. (22:02) Mailbag: What do early retirement offers usually include and how can I be prepared? (25:36)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Is the TSP, also known as the Thrift Savings Plan, truly the greatest investment platform of all time? There are a lot of people that would answer yes to this question, so in today’s episode, we’ll explore any potential shortcomings it may have. Specifically, we will dive into a recent conversation between Lee and a client who had their funds in a TSP.    Here’s what we’ll discuss in this episode: A recent phone call with a federal employee that led to today’s show topic + a brief breakdown of TSPs. (1:01) Why would you move money from a TSP to an IRA? (5:36) The value of an RIA and fee transparency. (8:18) The benefit of having personalized planning advice. (12:06)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

From time to time, we like to look at issues faced by people in other professions outside of the financial world and see what kind of retirement planning lessons we can learn from them. In today’s episode, we’re seeing what we can learn from teachers and the issues they face. Let’s look at how homework, standardized testing, and customized learning approaches relate to financial planning.   Here’s what we’ll discuss in this episode: Everybody hates homework, but an advisor can help. (1:56) Like standardized testing, cookie-cutter planning isn’t ideal. (4:36) Age-appropriate advice is critical in financial planning. (12:04) Lifelong learning is a great habit to develop. (15:04) Mailbag: Should I pay off my mortgage before I retire? (17:33) Mailbag: Gifting vs. lending money. (18:49)   Use the code “knowyournumber” to access the Know Your Number course for FREE! Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com  

Artificial intelligence has made massive improvements lately, impacting almost every industry. There has been a lot of chatter about this taking over the financial sector as well. So, is artificial intelligence good or bad for the advisor world? We’ll talk about this and more on today’s show.   Here’s what we’ll discuss in this episode: Technology has advanced tremendously. (1:48) Lee’s recent experience at Mcdonald's. (4:37) The impact of human interaction in a world of artificial intelligence. (7:41) Is artificial intelligence good or bad in the advising world? (10:46) The impact of friendly, consistent service. (13:33)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

How do you measure success in retirement? While having enough money saved for retirement is important, it shouldn’t be the only measuring stick for success. In this episode, we explore three other areas to consider when measuring retirement success: time, self-worth, and ideal days.   Here’s what we’ll discuss in this episode: Lee shares about his weekend in St. Simons, Georgia (1:39) Measuring retirement success by money. (4:37) Measuring retirement success by time. (6:29) Measuring retirement success by self-worth.  (10:04) How many ideal days did you have throughout the year? (11:41)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com  

We’re back with another mailbag episode! We’ve received some excellent listener questions recently, and we’re going to dive into a few of them on today’s show. Stay tuned to gain valuable insights and practical solutions to real-life financial challenges and questions. In today’s episode, we’ll discuss protecting your savings and investments from current economic uncertainties, what to do once you’ve maxed out your 401(k) savings, and retiring early. We’ll also clarify the critical distinctions between two often-confused terms, Roth contributions, and Roth conversions.    Here’s what we’ll discuss in this episode: What steps can I take to protect my savings and investments from losing value with the current inflationary pressures? (3:23) What should I do once I’ve maxed out my 401(k)? (10:27) I have plenty of money in my 401(k) but I’m only 57. Is it foolish to retire now? (14:30) The critical difference between a Roth contribution and a Roth conversion. (18:12) Listen to Episode 70: https://myretirementcla

As most of us know, navigating Social Security can be a challenge, and unfortunately, there is a lot of misinformation about there about this important benefit. With so much confusion surrounding this topic, we’re here today to set the record straight. In this episode, we’re debunking the most common myths about Social Security and answering the questions you've been curious about.   Here are the myths we’ll discuss in this episode: Myth: The Social Security Administration will help you make the best decision about when you should start your benefit. (4:40) Myth: You won’t have to pay taxes on Social Security. (7:50) Myth: There won’t be any Social Security benefits left by the time you retire. (13:05) Myth: You can’t work and receive Social Security benefits at the same time. (17:25) Myth: You should claim your Social Security benefits as soon as you’re eligible. (20:24) Want to set up a meeting with us? Visit us here: http://talkwithlee.com  Get more financial education at http://myretirementclarity.com

Lee has been working in the financial industry for over 16 years, and during that time, has encountered a wide variety of financial planning questions. However, there is one question that seems to come up more frequently than any other: "How much do I need to retire?" Is one million enough for everyone? Although it appears to be a straightforward question, we’re going to dive into the complexities of this topic today.   Here's what we'll discuss in this episode: Why the question “How much do I need to retire?” is difficult to answer. (2:03) Why a million dollars may not be enough to retire on for everyone. (3:11) The importance of keeping track of your expenses. (5:34) Lee’s challenge for those looking to retire in the relative future. (9:29)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com  Get more financial education at http://myretirementclarity.com  

As you prepare for retirement, you want to make sure you’re doing everything you can to secure your financial future. We’ve talked a lot on this podcast about strategies to help you grow your wealth for retirement, but it’s just as important to consider the risks that could wipe out your savings entirely. On today’s episode, we’re covering the two big ways that you could lose every dime you have, and how to avoid these critical mistakes.     Here are some of the topics we will cover in this episode: Investing your life’s savings in a business idea of a friend, relative, or child. (3:48) The consequences of investing all of your money in one company. (8:29) Why Lee does not recommend that his clients buy individual stocks. (12:23)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com  Get more financial education at http://myretirementclarity.com

Are you tired of one-size-fits-all financial advice that doesn't quite fit your unique needs and goals? There are many types of personalities out there when it comes to financial matters, and we’ve found that most of our clients fall into one of the categories we’ll discuss today. In this episode, we’ll explore how understanding your financial personality can help you make more informed financial decisions. Here are some of the topics we will cover in this episode: The ‘victim’ who has been burned by something in their financial past. (2:50) The ‘over-analyzer’ who has a tough time making financial decisions. (5:16) The potential risks ‘do-it-yourselfers’ face by not seeking professional financial advice. (7:36) “There are risks associated with being too conservative.” How ‘silo stockers’ can benefit from having some money in the market. (14:02) Working with couples that are not on the same page regarding finances. (16:23) Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more fina

Do you ever feel like your retirement planning goals are always moving? You're not alone. We’ve found that people often move the goalposts in their own retirement planning, often to their detriment. In this episode, we're diving deep into the psychology of retirement planning and the dangers of moving the goalposts. Here are some of the topics we will cover in this episode: Holding onto excess cash and not investing it could mean giving up on potential earnings. 2:15 Procrastinating with investing is an easy trap: “There’s always going to be a reason to keep you from saving money.” 5:40 The danger of waiting to reach a specific number in your investment account before reducing risks. 10:06 How procrastinating retirement planning could have you working longer than you originally planned. 13:19 Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com  

In this episode, we’ll highlight the most common financial fears and discuss how to address them in your retirement plan. Whether you are worried about running out of money during retirement or aren’t sure how to find the best financial advisor for your situation, this episode will help you face these fears head on.  Here are some of the topics we will cover in this episode: The fear of running out of money during retirement and preparing for the expense of end-of-life care 2:13 The fear of overpaying for taxes and why it’s important to plan as taxes increase over time. 7:39 Finding the balance between leaving behind a legacy and enjoying your retirement lifestyle. 10:23 The fear of having to reduce the quality of your life in retirement because of the economy. 13:22 How to find an advisor you trust with your financial situation. 16:01   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com  

We work with some tremendous savers who worked hard and sacrificed to build a nest egg, and that mindset isn’t easy to move away from. Many of those same savers are afraid to spend their own money once they’ve reached retirement. So what can you do to embrace that mindset shift? We’ll share a recent conversation we had about this and discuss some ways you can address the problem.   Here’s some of what you’ll learn in this episode: Why is this struggle to spend money a little more prevalent in recent years? 1:03 What happens to your mindset when you retire? 3:40 Why remaining disciplined with your investment strategy will help you do better over the long-term. 7:14 How we perceive value when it’s our money versus when the money comes from someone else. 10:35 What can you do to give yourself confidence to spend money in retirement? 13:45   Want to set up a meeting with us? Visit us here: http://talkwithlee.com  Get more financial education at http://myretirementclarity.com

After being discussed in Congress for nearly a year and a half, the SECURE Act 2.0 passed in January. This follows the original piece of legislation that took effect at the beginning of 2020. With a list of nearly 100 provisions, there’s too much to sort out in one show. Instead, we want to highlight a few of the planning opportunities that could affect most retirees.   Here’s some of what you’ll learn in this episode: The RMD age is moving back again in 2023. 2:52 Catch-up contributions have received an adjustment that people approaching retirement need to know about. 6:51 You will soon have the option to roll money over from a 529 plan to a Roth. 9:24 Now people will have the chance to earn their company match to a 401(k) while making qualifying student loan payments. 12:23 How can you forecast the tax amount you’ll owe in retirement?  16:45   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

If you’ve been a good saver for most of your life, you might find yourself in a position at retirement where you want to try to live off the interest the money can make you rather than tapping into your nest egg. It’s a great idea and would go a long way toward protecting your money, but is it a realistic goal? In today’s episode, Lee is going to tell you why living off the interest in retirement probably won’t work. Here’s some of what you’ll learn in this episode: When did people start having the idea that you could live off interest in retirement? 2:24 Why this goal might have seemed realistic in the 70s and 80s. 3:42 What has changed since that time? 4:47 Here’s how we break down the math. 7:43 This is why income planning needs to be more of a focus for retirees. 10:40 Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

In this episode, we want to set some well-thought-out goals that we can plan for and work hard to achieve. We’ll do that in the area of business, finance, and personal goals with the help of Lee today to give you some things to strive for in every area of life.   Here’s some of what you’ll learn in this episode: What personal goals has Lee set for the year? (2:33) Relationship goals for 2023. (6:10) The goals that business owners can aim for. (8:37) How Lee prioritizes financial goals. (12:01) Should tax planning be included in your goals? (15:39)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com  Get more financial education at http://myretirementclarity.com

Nobody enjoys taxes, especially while they’re working because they eat into so much of our paycheck. But what about retirement? How should we be planning for taxes when we’re no longer working? That’s the topic for this episode of the podcast and we’ll dive into it by addressing four of the most common questions we get from pre-retirees or those that just recently retired. Here’s some of what you’ll learn in this episode: Will you have as many deductions in retirement as you do while you’re working? (1:27) Are all of your retirement accounts taxed the same. (4:41) Should you move to an income tax free state? (7:15) Is there a way to get tax-free income in retirement? (10:47)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com  Get more financial education at http://myretirementclarity.com

In this episode, we’ll cover some of the top rookie mistakes we see people make, and illustrate how to avoid them or how to fix them if you’ve already made some mistakes in your financial life. Plus, we’ll tell you about a recent trip we made to the golf course that included a hole-in-one. Here’s some of what you’ll learn in this episode: How investing without a purpose becomes a problem. (3:26) Why we often find that people don’t know how much risk they have in their portfolio. (6:45) Emotions are one of the major causes for investment failure. (11:48) Are people being transparent with their ‘hot tips’? (15:39) There are fees associated with investing and you need to be aware of this. (18:40)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com Get more financial education at http://myretirementclarity.com

Most folks enjoy spending money, and it’s pretty easy to do when you’re working because that paycheck gives you a safety net. But how do you spend money in retirement in a way that gives you the best chance of not running out of money? Today we’re going to give you four retirement spending strategies that you might want to consider.   Here’s some of what you’ll learn in this episode: We break retirement expenses up into two categories. (1:30) The inflation-adjusted spending strategy. (4:46) The spending smile method. (9:11) The floor and ceiling method. (13:02) The retirement guardrails strategy. (14:30)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com  Get more financial education at http://myretirementclarity.com

The final two weeks of this 2022 football season have been incredible for Georgia fans, but every college football fan had to enjoy the semifinals of the College Football Playoff. As we were watching all this football during the holidays, we started to realize that there are some really great lessons we can take from the sport so many of us love. So we started compiling them over the past couple of weeks and pulled together five we wanted to share on the podcast. Here’s some of what you’ll learn in this episode: You are responsible for you. (2:01) Never give up no matter the circumstance. (5:54) Be gracious in defeat. (9:11) Be with others. (10:48) Life is precious. (12:55)   Want to set up a meeting with us? Visit us here: http://talkwithlee.com   Get more financial education at http://myretirementclarity.com