Retirement Answer Man

In today’s podcast Roger hosts a terrific conversation with Marc Miller. Marc is a veteran of the corporate world, having worked for IBM for many years. He ‘s made what he calls a “pivot” in his career journey by exiting the corporate world and starting up his own consulting and coaching business to help others pivot their lives into something more satisfying and enjoyable for the later half of their lives. You’ll hear all kinds of great topics in this chat as Roger asks Marc about how he made the transition, whether he truly IS happier now, and what others can do to position themselves for a great pivot of their own. Be sure to listen in to this episode of The Retirement Answer Man, with Roger Whitney. Help Roger help you, by taking part in the annual listener survey  One of Roger’s greatest desires is to help you position yourself for retirement so you don’t find yourself facing financial hardship as you approach the last stage of life. Toward that end he wants to make this podcast the most helpful it can be. He’d love to hear what you like about the show and what you think has room for improvement. You can take part in the 2015 Listener Survey by texting “RAMSurvey” (all one word) to “33444.” Please take just a few moments to let Roger know what you think of the show. Has your insurance company or investment advisor informed you that your insurance policy could be bought out?  There are a number of big name insurance companies that have decided that the “income products” they’ve offered as part of insurance packages were not such a good idea. As a result they’re offering to “buy out” those policies from policy holders. But something Roger’s noticed that irks him a bit is that some of these companies are offering a “bonus” of sorts for investment advisors who take the time to help their clients make the decision TO sell out their policy. It may be the best decision for the client, but Roger’s concerned that providing a bonus may produce a conflict of interest for some advisors, and that many clients could be misguided as a result. Find out the details on this episode. 10 rules for retirement planning  In the “Practical Planning” segment of this episode, Roger covers a handful of the 10 rules for retirement planning. In particular, he refers to the old adage, “Pay Yourself First” and points out that it not only means setting aside the first part of your income for your savings or investments, but also that “lifestyle creep” could also be a factor in not setting aside enough of your income. What is “lifestyle creep?” Find out as Roger explains the concept and its effect on this episode of The Retirement Answer Man. Marc Miller has made the pivot from corporate career to entrepreneur and he’d like to help you navigate those waters too.  After years of working at IBM as an engineer, Marc moved out of the corporate world in favor of building his own business and the life of his dreams. He’s achieved great success and now serves people who were once in the corporate shoes he wore, helping them discover the way forward that uniquely fits them and positions them best for their retirement years. Listen to this great conversation between Marc Miller and Roger Whitney to hear Marc’s story, the lessons he’s learned, and how he helps his clients navigate out of the corporate world. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN  [0:24] Welcome to this episode - where we work together to create not just a healthy retirement, but a healthy life.[1:57] Help  Roger help you… by taking part in the 2015 Listener Survey - text “RAMSurvey” to “33444” THE HOT TOPIC SEGMENT  [4:29] Welcome to “Roger’s Rant” about a subject that came across his desk this week.[5:09] The “income products” being offered by insurance companies, and the buy-out options the companies are offering.[6:32] Why Roger’s so angry… the letter he received from a major insurance company.[9:26] How you should evaluate a “buy out” option on an insurance product. PRACTICAL PLANNING TIP SEGMENT  [15:33] 10 rules for the retirement realm… a few tips to help you.[16:06] The importance of paying yourself first, and what it really means.[18:26] Don’t rob tomorrow[18:44] Put time on your side - today’s the best day to start.[19:08] Don’t count on social security.[19:45] Be slow to borrow from your investments.[20:00] If you’d like access to the Retirement Learning Center to get the rest of these 10 rules, text “Planning” to “33444.” MAIN TOPIC SEGMENT - A CONVERSATION WITH MARC MILLER  [21:03] Marc’s journey so far.[23:30] How Marc’s thoughts on retirement changed once he got out of a major corporation.[24:23] The thing that excites Marc the most about pivoting toward retirement.[25:08] Does Marc think his story is a “special case” that others can’t duplicate?[26:25] The comparison between Marc’s life when he was 30 or 40 and his lifestyle now.[27:01] The things that worry Marc the most about being in his new stage of life. [29:09] Marc’s assessment of how he’s doing in his “independent” stage of life.[29:31] The transition from a big company to an entrepreneurial lifestyle.[31:24] The worst financial decision Marc ever made.[33:29] The biggest struggle Marc has managing his own finances.[35:58] The two books that have impacted Marc most.[37:38] How Marc wants to be remembered.[38:56] Marc’s new e-book - Personal Branding for Baby Boomers[40:53] How to connect with Marc Miller.RESOURCES MENTIONED IN THIS EPISODE  The Retirement Planning Center - Text “Planning” to “33444.” Marc’s book: Personal Branding For Baby Boomers - https://careerpivot.com/personal-branding-baby-boomers/ Marc’s website: www.CareerPivot.com Marc’s email: Marc@CareerPivot.com

Here’s how to start fixing your retirement plan

One of the most tempting but dangerous things investors (and investment advisors) do is to react in light of what current markets are doing. Don’t misunderstand, it’s always wise to make adjustments when needed, but not to your overall strategy or plan. You put together that strategy to accomplish certain goals within certain timeframes, and over the long haul, it should accomplish your goals given the expected amount of time. When you change your investment strategy because of the markets, you’re changing horses midstream, and you could wind up in deep water! Roger’s got some great advice about how to stick to your plan even though the current market situation seems shaky, on this episode of The Retirement Answer Man. Do you know what a STRETCH IRA is, and how it can benefit you and your loved ones?  When making investments for retirement, one of the oft overlooked issues has to do with what happens to the investment should you pass away. If you neglect to designate a beneficiary of your IRA for example, the money will simply pass into your estate upon your passing, and will be taxed almost immediately. That’s not a very good use of the money you worked hard to earn and save, is it? A Stretch IRA enables you to designate beneficiaries and actually S-T-R-E-T-C-H the tax benefits of that investment beyond your lifetime, into the expected lifetime of your beneficiary. Find out how this works on this episode. Do you know how to choose an investment advisor wisely?  That issue alone could make or break your retirement investment strategy. You’ve got to know that the person advising you on your retirement is not only experienced, but the right fit for you and the goals you have. What should you ask a potential investment advisor to see if there’s a good fit? Do you know? In this episode of the Retirement Answer Man Roger spends a good deal of time discussing what you should look for in a good retirement investor and how you can ask the right kind of questions to discover if that advisor is the one for you. Listen in to hear Roger’s hard-learned advice. How should a small company go about setting up retirement plans for employees?  There are many options out there, and sometimes the administrative costs make it very difficult to set up a plan that is generous to employees but also affordable for the business owner. In today’s episode Roger fields a “live” question from his friend Mark about how to assess the various retirement plan options, how to educate employees on the options without boring them to tears, and how to find the right investment advisor to guide the company and the employees through the process of setting up what is best for each individual. It’s a valuable conversation about retirement plans and small business. Listen in to hear the entire chat. Did you know that Roger would love to answer your questions about retirement?  That’s what the Retirement Answer Man podcast is all about. You can ask your specific, personal question and Roger could answer your question on the air. It’s as easy as clicking a button and talking. Go to http://www.rogerwhitney.com/retirementanswers/ to record your question and Roger may address the issues you raise on the next episode. Where else can you get free, experienced, trusted advice on something as vital to your future as retirement planning? Don’t wait. Ask your question now! Free Resources to help you do your retirement planning wisely.  Roger is an investment advisor. That means he makes his living advising people about how to wisely make investments for their future. But beneath that is a deeper motive to help people. One way that Roger is doing that is by creating his “Retirement Learning Center.” It’s a free resource on his website (www.RogerWhitney.com) where you can find all kinds of resources - from how to interview a possible financial planning partner (discussed on this episode) to caring for Elderly parents, to wise estate planning. You’ll be amazed at the valuable resources Roger has packed into the learning center, so make sure you get over there to check it out! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN  [0:32] Roger’s welcome[1:00] Roger’s daughter turned 18 years old - got a tattoo - and why it matters![3:06] Thanks to some iTunes reviewers![4:24] Constructive feedback from a listener (Rick) and a great resource shared from another listener (Mark).THE HOT TOPIC SEGMENT  [6:38] Still talking about the markets![7:00] A conversation Roger had and what he realized from it about asset allocation.[9:40] The temptation to change or alter your investing strategy during down times in the market. PRACTICAL PLANNING TIP SEGMENT  [13:00] What is a STRETCH IRA?[15:00] The tax benefits of setting up a Stretch IRA correctly.[16:27] Advanced strategies for IRAs.[17:23] The Retirement Learning Center resource concerning these IRA options - text the word “planning” to “33444.”  TODAY’S LISTENER QUESTION  [17:52] An email from Elliot: 3 questions about recording income in a consulting business, setting up lifestyle expenses, and dividends from retirement accounts![22:50] A question from Mark: How should I set up a small business retirement plan for my employees? RESOURCES MENTIONED IN THIS EPISODE The upcoming Investing Seminar - Text “Ram Webinar” to “33444.” The Retirement Planning Center - Text “Planning” to “33444.” “How To Find a Financial Advisor” worksheet Mark Menard’s “Elevating Beyond” podcast TWEETS YOU CAN USE TO SPREAD THE WORD  Use a #StretchIRA to maximize #TaxDeferred benefits for loved ones How should you account for #consulting income? Find out on this episode #SmallBusiness TIP: How to set up employee #RetirementPlan benefits Ask your #retirement related investment questions from a pro! Find out how, here Free resources to help you make wise #RetirementPlanning decisions

Today’s episode of The Retirement Answer Man debuts a brand new format that will help you make even more of your retirement and financial planning. From here on out all episodes of RAM will be consist of 3 segments - The Hot Topic, where Roger addresses current issues on the financial horizon - The Practical Planning segment, where Roger gives you practical, actionable tips to help you get your retirement planning headed in the direction you desire - and the Listener Question, where Roger answers YOUR questions about retirement related issues. Listen in to get a feel for the new format and to hear how Roger can help you get your retirement planning well in hand before it’s too late. HOT TOPIC - A market correction or a bear market?  Last week’s market closed with some alarming numbers and as always, many people are speculating what it means. Is this nothing more than a natural market correction? It could be… it’s been a very long time since the market corrected. But it’s always possible that it’s the beginning signs of a “Bear Market” that could turn things in a very negative direction. Which is it? Nobody can say for certain but the advice Roger has for you in today’s show applies no matter which it turns out to be. Don’t miss this solid, practical tip. THE KEY to being a great investor!  Nobody invests their money to get small returns. We all want our investment dollars to do the very most for us possible. In this episode of The Retirement Answer Man, Roger addresses the current market situation by advising you how to become the great investor you want to be, no matter what the economic climate. Listen in to find out what Roger believes to be THE KEY to becoming a great investor. The retirement planning center is available for you - free of charge.  Whether you’re a seasoned investor with a solid track record of investments behind you, or are just getting started on the retirement investing journey, Roger has compiled a treasure trove of resources for you in his free Retirement Planning Center. It’s a quick and easy resource from an experienced retirement advisor that will get you moving in the right direction. If you’d like to gain access, listen to this episode to find out how you can!  What is a Community Foundation and how can it help you with charitable giving?  In today’s main segment Roger has a very informative conversation with Nancy Jones of the Community Foundation of North Texas. Nancy’s experience in dealing with both donors and charities, as well as her interest in finding worthy and trustworthy charities for the foundation’s members, make her a great resource for the topic of today’s show. In this episode you’ll learn what a community foundation is, how it can help you identify charities in your own community that may be the exact fit for your charitable desires, and how the vetting process a community foundation does can help you rest easy, knowing that your charitable contributions are being used well. Find out more about community foundations on this episode of The Retirement Answer Man. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN  [0:32] The theme of today’s show - giving to others without worry.[1:12] Thanks to Allen for the great review.[1:42] A new structure to the podcast - Hot topic - Practical Planning Tip - Main Segment THE HOT TOPIC SEGMENT  [3:35] A market correction or the next phase of a Bear market?[8:47] The key to being a great investor.[10:08] Roger’s seminar to help you plan out your investing goals - 8/27/15. Text “RAMWebinar” to “33444.” PRACTICAL PLANNING TIP SEGMENT  [12:00] The basics of giving to causes and people.[15:18] Get a free retirement planning learning center - text “Planning” to “33444.” TODAY’S LISTENER QUESTION  [16:13] What are ways I can find a “good” charity to support? [17:08] Roger’s introduction of his conversation with Nancy Jones from “The Community Foundation of North Texas.”[21:20] How a community foundation can benefit a person looking for somewhere to give.[23:56] How does a person with charitable intent manage the worry they might have about running out of money?[26:36] The current IRA rollover provisions, a new possibility.[28:11] What are the minimums required to set up a relationship with a community foundation?[29:15] The benefit of creating experiences for your kids rather than leaving them cash.[32:07] How a community foundation can match you with groups you would be interested in, but don’t know about.[34:39] What’s so important about a “community foundation?” RESOURCES MENTIONED IN THIS EPISODE  The Community Foundation of North Texas - Nancy’s organization - http://www.cfntx.org/ The upcoming Investing Seminar - Text “Ram Webinar” to “33444.” The Retirement Planning Center - Text “Planning” to “33444.”

Roger starts the show off with a bang today by answering a listener question: “I’m a smart guy. So why do I make such stupid decisions when it comes to money?” Feel familiar? We’ve all made our share of mistakes in the financial areas of our lives, and that pattern never really changes unless we come to grips with the REASONS we make those decisions in the first place. As you listen to Roger’s response to the listener’s question, see if you can pick out the main reason dumb financial decisions are made, and a handful of ways you can put safeguards in place to keep yourself from them. What worries you most about retirement?  Have you given that question much thought? In today’s episode of Retirement Answer Man Roger speaks with Darryl Lyons, author of “Small Business, Big Pressure” and asks him that very thing. Darryl’s answer is reflective of many people in our day, concerned about whether or not he’ll have the amount of retirement funds set aside to truly achieve the things he wants to do in his “life pivot” (Darryl prefers to think of retirement that way). It’s a refreshing interchange between two swell guys, and you can hear it on this episode. Is a college education really an important thing for your kids?  In modern America, it’s almost heretical to even ask a question like that, but Darryl Lyons not only asks it, he’s come to a a definitive “NO” answer. It’s not that Darryl is opposed to education,  he just believes that education is not the most important thing to him, especially as he considers the amount of money he’ll have to save to put his 3 girls through college. He’s not at all interested in paying that kind of money for an education that is top notch if the environment of the school isn’t supporting and promoting their character at the same time. Hear Darryl’s thinking on that and many other issues on this episode of Retirement Answer Man. Is paying tens of thousands of dollars for your kids’ college education equipping them, or enabling them?  That’s the spirit of a question Roger asks his guest, Darryl Lyons on this episode of Retirement Answer Man, and Darryl’s answer is very intriguing. He’s convinced that much of the money spent on education today is wasted, and he’s got very strong reasons why he says that. Listen in to the conversation as Roger asks Darryl about that topic and many more, and see if you agree with Darryl. Would you like to know what your Retirement Personality Profile is?  Roger’s been learning that when he helps his clients know themselves better, they are better able to know what they want and need in their retirement. That mental picture is what Roger is calling their “Retirement Personality Profile,” and Roger’s created a tool to help people (even you) get a clearer idea of what they value in retirement, and what is just wishful or romantic thinking that has no basis in reality. Want to get your profile? You can. Go to www.RogerWhitney.com/profile to get your Retirement Personality Profile now. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN  [0:27] Welcome and introduction to the episode.[1:37] Introducing the Retirement Personality Profile! Take yours today![8:33] A listener question: “I’m a smart guy. So why do I keep making stupid financial decisions?”[17:30] The retirement journey of Darryl Lyons - Darryl’s story.[19:20] What does retirement mean to you? The most important question.[20:42] Darryl’s greatest area of excitement about his future retirement.[23:03] What worries you most about retirement? Have you considered the question?[24:23] Where is the line between supporting your kids and enabling your kids?[26:28] Darryl’s thoughts about why his kids’ education is not the most important thing.[27:11] Where Darryl is on the retirement road.[28:13] How a business that is growing can be a form of retirement.[29:16] Darryl is a financial planner… so does HE use a financial planner?[30:14] The worst financial decision Darryl has ever made.[31:52] The power of unwise counselors to ruin your life.[33:05] The hardest things Darryl’s had to do to manage his money wisely.[34:11] Darryl’s favorite resources and powerful inspira[35:53] “Small Business, Big Pressure” - Darryl’s book.[37:50] How you can have your question answered on the Retirement Answer Man. LINKS MENTIONED IN THIS EPISODE  The Retirement Personality Profile on Roger’s website - www.RogerWhitney.com/profile The Retirement Learning Center - www.RogerWhitney.com/learn How to leave your question for Roger to answer - www.RogerWhitney.com/retirementanswers Contact Roger via email - roger@wwkllc.com http://www.smallbusinessbigpressure.com - Darryl’s Lyon’s book! TWEETS YOU CAN USE TO SPREAD THE WORD  Sometimes it’s better to be a smart idiot, than a stupid genius #RetirementAnswerMan http://www.RogerWhitney.com/80 When it comes to our OWN #RetirementPlanning, we’re motivated by emotion http://www.RogerWhitney.com/80 Want to make smarter #FinancialDecisions? Put controls in place. Find out how on this episode http://www.RogerWhitney.com/80 Use your spouse to help you make better #FinancialDecisions - #RetirementAnswerMan http://www.RogerWhitney.com/80 #SmallBusiness, BIG pressure - the author speaks on this episode of #RetirementAnswerMan http://www.RogerWhitney.com/80

Retirement planning is as much about additional sources of income as it is about investments. Roger’s guest today, Matt Miller, has built a company that offers savvy retirement planners a legitimate way to add an additional stream of income to their current situation - either on the side or with hopes of it moving toward a full time business. It’s entrepreneurial to the core; becoming a business owner, making your own rules, living the life you want now, instead of waiting for retirement. But it builds toward retirement as well. Matt’s story is inspiring… and you’ll hear it all on this episode of Retirement Answer Man. From the military, to corporate, to entrepreneur - Matt’s story  Matt Miller was a pilot in the U.S. Military, and when he decided to step out of that life the transition was more difficult than he thought it would be. Though the government had spent plenty of time and money giving him outstanding skills, potential employers seemed hesitant to give him a chance because they weren’t sure he’d stick with them. They thought he was likely to return to the military instead. As Matt dealt with the corporate politics and the difficulties of achieving the freedom and levels of success he wanted, he realized that his future retirement AND the life he wanted now were things he’d have to go for on his own. Get more details on this episode. Retirement planning is about more than just amassing a pile of cash - it’s about making a meaningful life  That’s a mindset that many people planning for their eventual retirement don’t cultivate enough. Your life after retirement can be, and should be rich with activity that makes a difference in the world. Matt Miller (today’s guest on the Retirement Answer Man) says he could never see himself sitting on a beach doing nothing. He doesn’t want to be that person. He’s got to be busy investing himself in causes that are important to him, no matter his age or degree of physical stamina, and he’s built a business that makes it possible for him to do that, and empower others to have the same opportunity. If you’re tired of the rat race and want something different for your future, you should check out Matt’s great opportunity. Find out more by listening to this episode. A listener question: Can I contribute to my ROTH IRA even though I’m not eligible to do so?  ROTH IRAs do have some limitations on when and how contributions can be made, especially if you’re single and make over a certain amount of income in the year you want to make a contribution. In this episode of Retirement Answer Man Roger fields a question from a listener who is in that exact situation and in doing so sheds light on the ways contributions can be made in that situation, and whether they will be tax free contributions or not. If you’ve got questions about your ROTH IRA, you should listen to this helpful Q&A with the Retirement Answer Man. Do you have a question for Roger Whitney, the Retirement Answer Man?  Roger would love to hear from you and answer your question on an upcoming episode of RAM. You can easily submit your question in one of two ways: 1) Visit the website at www.RogerWhitney.com/retirementanswers . You’ll be able to leave your own voice message for Roger, asking your retirement related question. Or if you prefer to send in your question in writing, you can email roger at Roger@wwkllc.com . He’d be happy to hear from you! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN  [1:20] The revamp of the Retirement Answer Library - easier to use and to find what you need - www.RogerWhitney.com/learn[3:35] How you can leave your question for Roger - www.RogerWhitney.com/retirementanswers or send Roger an email - roger@wwkllc.com  [5:27] LISTENER QUESTION: How can I make a contribution to my ROTH IRA given that I am single and make too much money to contribute?[12:03] Introduction of today’s guest - Matt Miller.[14:00] The obstacles Matt discovered transitioning out of the military and into the corporate world.[16:20] It’s not just about building a pile of cash for retirement, it’s about a meaningful life.[17:09] What Matt’s business does that creates his personal income (and income for franchisees) and adds great value to the world.[19:22] The dangers of getting into the vending industry (where Matt’s company operates), and how Matt’s company is different.[21:46] Raising up generations of entrepreneurs.[22:57] Why mindset is most important for Matt’s franchisees - and what that looks like.[24:48] Matt’s view of retirement - what it means to him and how he thinks about it.[26:43] How Matt is living on his own terms now rather than waiting for retirement.[28:10] What kind of business should you start? How Matt made those decisions.[30:07] The one trait that enables Matt to be successful.[30:55] 13 years to overnight success - the power of continued iterations. [32:42] Get in touch with Matt Miller.  LINKS MENTIONED IN THIS EPISODE  The Retirement Learning Center - www.RogerWhitney.com/learn How to leave your question for Roger to answer - www.RogerWhitney.com/retirementanswers Contact Roger via email - roger@wwkllc.com Get in touch with Matt Miller - matt@ssvbusiness.com Matt’s company website - www.SSVBusiness.com

I've been hacked!!!! To prove that talking retirement planning doesn't have to be dull, Joe Saul-Sehy from the Stacking Benjamins Show hacked into this week's show.We were all set for another super serious retirement planning show when Joe from Stacking Benjamins hacked in and took over. Evidently Joe thought I was getting a bit too serious and wanted to lighten up the show a bit. Although he made every attempt to suck the wisdom from the show, I was able to sneak in some great retirement planning lessons as he told stories, ranted and joked about personal finance.If you listen closely, you'll there's some great lessons about:Financial Pornography: The dangers of listening to financial news.How everyone is marketing somethingEveryone presents themselves as financially savvyWhy not to believe your friends investing stories.Don't count on your advisor to predict the future.The true role of an excellent financial advisor.Why humility is key to making good financial decisions.Joe's admits his worst financial decision.How to judge the competency of your financial advisor.As light hearted as Joe is, he really knows his stuff. If you're looking for an entertaining personal finance show, check his out here. Tell Me What You Think Joe thinks I'm too serious in my show. Joe's a good friend and I respect him. You're a friend to so I'd love to get your feedback.What do you like most about the show?What would you change?Is my show too serious?Would you like to hear more about current events and the markets?Is it too long (or too short)?TELL ME HERE

It's easier than ever to become a terrible husband. Our connected world has caused the outside world of news, work and friends to compete for the limited attention we have when we're at home.  If you're not careful e-mails, status updates and the internet can rob your wife of her rightful place as the center of your life.This year my wife and I will celebrate our 25th wedding anniversary. I'm happy to say our relationship has never been stronger. This wasn't always so. For much of our marriage, I was a terrible husband. I allowed the pressures of work and the outside world to dominate my attention at the expense of my wife. Luckily, I woke up, got my priorities straight and can now say we have an awesome marriage.I want this for you too.In this week's episode, Nick Pavlidis shares his journey from terrible husband to husbandly awesomeness (He wouldn't say this, but I will).  We discuss:Signs you could be a terrible husband.The importance of taking inventory of your actions and priorities.How to apply workplace leadership skills at home.Ways to make your wife your top priority.Why it all starts with you.How to walk your talk.The benefits of investing in your marriage.The magic of continually asking yourself,  "What is the next right thing?"Join Nick in Becoming a Better Husband Nick is, admittedly, a work in progress. If you'd like to join him on his journey towards being more intentional in marriage here's how:Read Nick's new book Confessions of a Terrible Husband: Lessons Learned from a Lumpy Couch.Listen to his podcast.Connect with him via: FacebookTwitterQuestion What is your nest advice for improving your relationship with your spouse?Tell me here 

What do you think the midyear outlook for the market is? Greece, is all over the news (what is it with Greece, anyway?), markets in China are crazy and here in the U.S. everyone is freaked out about when interest rates will rise. What is an investor to do?In this episode, we'll discuss the midyear outlook for the markets as well as the importance of managing your assets in a consistent well thought out way. Your Investment Assets Should Be Aligned with Your Financial Priorities.  All to often, we collect investments over time just like we collect "stuff" in our closet. As we walk through life, we see an interesting investment, buy it and repeat again and again. Over time, many end up with an investment portfolio that looks more like a storage closet than a well structured portfolio laser focused on helping achieve goals. Over the years, I've seen some horrendously constructed portfolio (by Advisors as well as individuals).  I recall one IRA that had over 45 different managed portfolios! All actively managed by an advisor.  Geez!!!Collected portfolios pose some serious risks to your long-term investment experience. Such portfolios make it very difficult to evaluate:the individual and aggregate risk you're taking.whether each manager is performing adequately.the appropriateness of the fees you're paying.Whether you're portfolio allocation is aligned with your family's priorities.Much better, in my opinion, to have your portfolio, and your balance sheet, laser focused on helping you achieve things you know you care about. In short know:what you own.why you own it.how to evaluate it.how it helps position you to achieve your family's priorities.It is Essential That You Stick with ONE Well Thought Out Investment Process. This is such an important point I need to do an entire show on it. If you switch from process to process you really don't have any process at all. This can be DISASTROUS to your long-term performance.Decide on a well thought out strategy and stick to it. Stick to it even when it feels uncomfortable; especially when it feels uncomfortable. Stay tuned for a future show focused on investment process. Highlight's From LPL Financial's Midyear Outlook In this week's episode, I speak with LPL Financial's Anthony Valeri, C.F.A. about LPL's midyear outlook for the world economies and markets. Anthony and the entire LPL team are sharp cookies. More importantly though, because LPL does no investment banking or selling of proprietary products, they're investment opinions are not tainted by the normal conflicts of interest you see at major firms. Anthony is a Senior Vice President, Investment Strategies and sits on LPL's tactical allocation committee. Get LPL's Midyear Outlook for Investing The economy has helped deliver six consecutive calendar years of positive returns for stocks since the end of the 2008 – 2009 Great Recession, as measured by the S&P 500 Index; however, constructing a strategy for the remainder of the economic expansion will require a tricky assembly. Divergent monetary policies reveal an uneven global recovery that has triggered an uptick in stock market volatility. A few important pieces requiring assembly for the remainder of 2015 include: „How the U.S. economy pieces together the components needed to bounce back from a lackluster start of the year. The U.S. economy hit an unexpected soft patch to start the year due to a severe winter freeze, the West Coast port strikes, ongoing effects of lower oil prices, and the surging U.S. dollar. Returning to a more normalized 3% growth level will be crucial to build further upon the market’s first half gains. „After successfully delivering the U.S. economy out of the recessionary “warehouse,” how does the Federal Reserve (Fed) assemble an exit strategy from its six-year policy of zero interest rates? With unprecedented levels of accommodative monetary policy rendering any traditional instruction manual pointless, the Fed will have to use its entire toolbox to construct a delicate increase in interest rates without disrupting the fragile economic growth and the wavering confidence of businesses, consumers, and investors.Corporate earnings growth continues to search for that spark to ignite equity advances. In the U.S., lackluster profits aligned with weak first quarter 2015 economic growth to produce the lowest level of year-over-year corporate earnings growth in 11 quarters. Overseas markets are looking for a power boost from the very accommodative monetary policies of global central banks across Europe and Asia, in an attempt to spur sustainable growth, improve earnings, and avoid deflationary forces.Although many packages are still in transit as we approach the midpoint of 2015, the biggest challenge for the market is putting the necessary pieces together to construct the backdrop for solid global economic growth, stable prices and currencies, and expanding corporate profits. The task is complicated by the Fed’s expected first interest rate increase in nine years later this year. The assembly will not be an easy one, but the LPL Research Midyear Outlook 2015: Some Assembly Required provides the investment instruction manual, tools, and tactics to construct portfolio strategies that may flourish in a market that remains in transition.If you're an auditory learner, here's a link to their midyear outlook video. 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Many say the American dream is dead. That getting married, starting a family and building for the future is no longer possible. Unfortunately, many others believe it when they hear it. All the while though, there are people with "normal" jobs building the American Dream step by step.One such person (or couple) is Molly and her husband. He works as a teacher. She works part time. They have a home and young daughter but still safe 15% of their gross income. From our conversation, they don't seem to do anything magical. They simply work at being intentional with how they spend money. Lessons I Learned From Molly's Story The word retirement is changing. It's becoming more about working on your own terms than leaving the workforce. This is significant, and if you share this vision you can use it to plan more intelligently of your future.It's important to be careful about what you spend on your education. According to Career Builder, over half of college grads are in jobs that don't require a degree. Education is important, but it may lead you to work you hadn't considered.It is possible to start a family, build a life and save for the future in "normal" paying careers. It takes being very intentional about your spending and working together.It's important to learn about the time value of money and investing early. Although parents and schools, generally, do poorly at this, there are lots of great resources for those that want to learn. In fact, today I had a perfect example. A 19 year old called me to discuss how to start saving for the future. This young man is working, going to school and has extra money he wants to start saving and investing with. Where'd he learn this attitude?  Books and podcasts!It's so easy to buy things that we forget about the great free resources available to us. Whether it's on the internet or at the local library, there are free resources to help you learn about nearly anything. Molly gives a great example of this in her quest to learn Spanish. Rather than buy a expensive (highly marketed) language program, she found free resources at the local library.Molly Early 33’sMarried 5 yearsA toddler daughter (20 months)Registered nurseWhat Does Retirement Mean to You? “In my 20’s it was this nebulous way in the future concept  that happens to other people, but would never happen to me because I’m never going to grow old.""Retirement to me would be a continuation, where I’m able to work just the amount that I want to. Maybe some of that is paid. Maybe some of that is volunteered. ""I think of retirement as the point that we hit financial independence, so that I’m not just working because I have to. I’m working because I want to." What Are You Most Excited About Retirement? “The flexibility to do whatever I want to do with my time.”"I would love to live close to my children, when they have children.” What Worries You Most Worried About? “Unexpected future expenses (home remodeling, more kids) could push back the date of our financial independence.”“I spend most of my time focusing on what I can control.” How Do You Think You're Doing on Your Journey Towards Retirement? “If you’re looking at the average American in their mid-30’s I think we’e ahead of the curve.”“We’re saving about 15% of our gross income towards retirement.” Do You Use a Financial Planner? “I took a Retirement Planning Today class at a local community college.  They offered a free consultation. It was very sales oriented.” What is the Worst Financial Decision You’ve Ever Made? “I got an undergraduate degree that I’m not using. I got a teaching credential that I’m not using. I even went back to school to start to get a masters in nursing (and then dropped out). So, I’ve spent a lot of money on education that I’m not using.”“I didn’t pay more attention and try to learn about investing in my 20’s.” What Do You Struggle With When Making Financial Decisions? “I would probably say, I’ve gotten borderline obsessed with learning about personal finance.” What is Your Number One Resource? “The Library.”“I am in love with the public library.” How Do You Want to Be Remembered? Well, I think I want to be remembered by what kind of relationships I had with people in my life.” Question:  What is the One Thing You Can Do Today to Be More Intentional With Your Money? For me, it is having better conversations about money with my wife Shauna. Lately, we've gotten a little lazy in our spending. Actually, I've gotten a little lazy with our spending. Not crazy lazy. More like I've become less intentional than I'd like about my spending decisions. Sorta like there's a hole in my pocket that bits of money falls though. I know it's there, I just haven't gotten around to fixing it yet. My wife helps me stay focused and fix these little things. What About You?  Let me know here.