Personal Pension Radio

In this episode, Kraig answers listener questions about real estate investing and addresses his informal title of "Cheapskate"!

 

Achieving your ideal retirement lifestyle takes planning and a strategy that involves the proper balance between your financial assets.  Our goal at Personal Pension Radio is to help you complete your financial journey and live the retirement you dream of.

Optimizing Retirement income does not happen with a product. Mutual funds, life insurance, real estate, or annuities? None of these by themselves will help you optimize your retirement income. You must have an integrated approach.

Thanks to the death of private pensions, the devaluation of Social Security benefits and other undeniable factors such as inflation and increased taxes, America is now in a retirement income crisis. Personal Pension Radio show is focused on helping you pack your bags for both halves of the retirement journey. I want to help you build & protect your wealth and lifestyle today and generationally.

Direct download: PPR_47_-_Cheapskates_Always_Win.mp3
Category:Personal Finance -- posted at: 12:51pm PDT

Over the 17 plus years that I have built my financial practice, I have lost track of how many times I’ve heard differing opinions on what kind of financial professional I should be. Should I be a commission based advisor or a fee based advisor? Although I have long since addressed this question in my own practice, it is still a topic of contention in the highly competitive financial services industry. The subject is further complicated by financial entertainers who dole out alleged financial wisdom without so much as a 10 minute consultation.

So what’s the difference between a fee only advisor and a commission based advisor and why would you want to work with one or the other? The most common answers invariably include the word bias, objectivity, and impartial. I hear people say things like “a fee only planner can be impartial” or a “commission based advisor is biased in favor of products that offer the biggest payday”. So which point of view is right? As with most things in the financial world, the complete answer cannot be delivered in a 30 second sound bite. Personal biases should not be overlooked so, with that in mind, let’s examine the biases which exist in both practice profiles.

Before I get too far along, it’s important to understand that we all have a bias of some kind or another and financial professionals are no different.

Everyone has a bias of one kind or another. Financial professionals, whether commission or fee based, are no different. That begs the question, how do you know which is the right one to work with? When searching for a financial professional to work with, I suggest that you look for one bias in particular.

Find the advisor who is biased in favor of you, their customer. Make sure that your financial advisor’s core objectives put your needs first.

Maximum retirement income and a great lifestyle is not found in a single product.  Achieving your ideal retirement lifestyle takes planning and a strategy that involves the proper balance between your financial assets.  Our goal at Personal Pension Radio is to help you complete your financial journey and live the retirement you dream of.

Direct download: PPR_46_To_Fee_or_Not.mp3
Category:Personal Finance -- posted at: 7:00am PDT

Toni Y. Long is the Managing Partner and Founder of The Long Law Group, PC, a boutique law firm specializing in Corporate and Entertainment transactional work.

Her Corporate practice focuses on corporate governance, maintenance and formation, real estate, asset/stock purchases and sales, securities, and other corporate issues, as well as serving as general corporate counsel. Since founding the firm, Toni has collaborated with other attorneys and counseled clients on complex M&A and financing transactions totaling more than $400 million.

She advises a broad range of business clients, from sole proprietors to emerging businesses to not-for-profit institutions to small, middle-market companies (revenues of up to $50 million), in a variety of industries, including film, television, music, gaming, new media, eCommerce, commercial and investment banking, insurance, oil and gas, aerospace, retail, manufacturing, agriculture, transportation, consumer products, restaurants, health care, software and technology, fashion, marketing, and public relations.

Her Entertainment & Sports practice focuses on production, talent representation, motion picture, television and new media development, distribution and licensing, and other entertainment issues. Toni provides legal advice to writers, directors, producers and production companies, offering legal representation at all stages of production. She has served as production counsel for numerous independent film projects.

Prior to founding the firm, Toni was a corporate attorney who worked on a variety of business and M&A transactions totaling over $400 million. She developed substantial experience drafting and negotiating a variety of business contracts, such as purchase and sale, employment, shareholder, option, licensing, non-disclosure/confidentiality, real estate purchase, and operating agreements.

Toni served as the Director of Business and Legal Affairs for an international film distribution company where she oversaw the acquisition and distribution of over 25 films. She also spent three years as a litigation associate at Morgan, Lewis & Bockius and Zevnik Horton, experience which gives her the ability to spot critical issues that could threaten the viability of business transactions or disadvantage a client if the partnership encounters obstacles.

Toni continues to be a mentor to students and recent graduates at UCLA School of Law.

Maximum retirement income and a great lifestyle is not found in a single product.  Achieving your ideal retirement lifestyle takes planning and a strategy that involves the proper balance between your financial assets.  Our goal at Personal Pension Radio is to help you complete your financial journey and live the retirement you dream of.

Direct download: PPR204520-20Toni20Long.mp3
Category:Personal Finance -- posted at: 7:00am PDT

Globalization has shrunk the world  In the past, economic turmoil in far off lands would take months or even years to reach the US.  Our financial interdependence is absolutely amazing. You may think what goes on in Greece or China doesn’t have, or shouldn’t have much impact on the U.S. or U.S. markets. But it has the potential to cause a lot of mischief.

Today, the ripple effect of poor economic news comes to us via the internet and 24 hour news.  The 800 pound economic gorilla in the mix is China.  Main Street China is directly connected to Main USA. 

China is much more significant and far more dangerous in terms of the warning signs.

China’s debt has quadrupled in eight years. And we have two bubbles that exist as a result of that tremendous increasing amount of debt. One is actually in the Chinese stock market. And of course, that’s been in the news, that the Chinese stock markets have taken a real tumble. Stocks have fallen over 30% and have done that in less than a month. There’s been a little bit of rebound. China has actually intervened in the stock markets to try and prop them up.

This is a serious mistake by the way, in terms of policy, for a couple of reasons. One is they have no real history of knowing how to manage this kind of situation. Two, historically the Chinese market has always been wild and woolly. Until China opened up, the only “China” stock market was the Hong Kong Stock Exchange. By our standards was wild and woolly, essentially unregulated. Today the Hong Kong Stock Market Exchange is very tame and conservative, for the most part; now, it’s the Mainland China stock markets that look wild and woolly.

For the first time we have something that modern China has never confronted before and [China] is trying to solve it with government intervention of a type that it has never attempted before. That’s not a good formula.

Direct download: John20Tulac20International.mp3
Category:Personal Finance -- posted at: 7:00am PDT

Maximum retirement income is not found in a single product.  Achieving your ideal retirement lifestyle takes planning and a strategy that involves the proper balance between your financial assets.  Our goal at Personal Pension Radio is to help you complete your financial journey and live the retirement you dream of.

Actuarial Consultants, Inc. is a retirement plan consulting and plan administration firm.
Founded in Torrance, California in 1983, we strategically design and administer your company’s retirement plan, saving you time and money. We help you meet critical dates and deadlines while keeping you protected in the event of an IRS audit or DOL investigation. With thoughtful planning and the right team, your plan will help you and your employees earn a well-deserved retirement.

  • 401(k) Plans
  • 403(b) and 457(b) Plans
  • Profit Sharing Plans
  • Traditional Defined Benefit Plans
  • Cash Balance Plans
  • Money Purchase Pension Plans
  • Combination Plans

 

 

Direct download: Justin_Bonestroo_401k.mp3
Category:Personal Finance -- posted at: 7:00am PDT

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