Getting divorced later in life can be more complicated than you may anticipate. Have you considered how your retirement plan will be impacted if you and your spouse separate?
In this episode, Larry Heller, CFP®, explains how divorce later on in life can impact your retirement planning, and what steps you can take when going through the divorce process. He also shares how you can gain more control over what happens to your investments and assets during a divorce.
Larry discusses:
Why it is important to determine who is the non-financial spouse
Why your housing costs can have a significant impact on your retirement plan
Why it’s helpful to know what your living expenses and income is prior to divorce
The importance of knowing the rules of Social Security if you’re divorced
Retirement is a huge milestone that you’ve spent your life saving for. But have you planned for what your retirement will actually look like, from a non-financial perspective?
If you ask someone, “what are you going to do in retirement?”, you may find that a lot of people can’t tell you.
In this episode, Larry Heller, CFP®, welcomes Reid Stone, founder and chief executive officer of My Life’s Encore (MLE) to discuss how retirement coaches can be your guide to preparing for the non-financial side of retirement. He challenges you to think about the time spent planning for retirement as an investment that generates future returns.
Reid discusses:
Why it is important to plan for the non-financial aspects of retirement – in the physical, mental, social, and spiritual terms
Why retirement is changing and how a retirement coach can be valuable when you are planning for retirement
How non-financial planning connects to financial planning to create a more successful and happy retirement
How and when to find a retirement coach right for you
Being part of the financial advisory industry for 20+ years, I noticed that clients are focused on the financial side of retirement but are often unprepared for the non-financial aspects of retirement (The Other Side of Retirement) that include the mental, emotional, social, physical, and spiritual.
My Life’s Encore was originally created to educate advisors, HR professionals, and the general public about the importance of planning for the non-financial aspects of retirement. I believe that education and guidance are the keys to a more successful retirement.
My focus is helping financial services companies educate clients and implement non-financial retirement planning to help clients and also benefit their firm. You can learn more about the changing face of retirement at MyLifesEncore.com. My white paper, The Strategic Value of Helping Clients Plan Their Ideal Retirement Lifestyle- Planning for the Non-Financial Aspects of Longevity In An Age of Longevity, is available for download from my website (under Resources).
In previous roles I led financial advisory firm operations. I enjoyed strategically growing and developing the businesses by continuously improving both operational efficiency and the client experience. Areas of leadership include project management, investment operations, investment performance reporting, technology integrations, compliance, hiring, training, and EOS (from the book Traction).
Outside of the office I enjoy anything that keeps me active- bicycling, kayaking, walking, longboarding- as well as following the local sports teams and reading.
What is a fiduciary? Investment advisors, financial advisors, and wealth managers can all adhere to different legal obligations. But how do those duties differ between different types of financial professionals?
In this episode, Larry Heller, CFP®, welcomes Stephen Brodsky, Esq., a corporate partner as they explore fiduciary duties in the financial industry. Stephen helps to simplify the legal terms used by financial professionals to give you a better understanding of their duties. Larry and Stephen discuss whether all financial advisors should be a fiduciary. Why and why not?
Stephen discusses:
What a fiduciary is in practical terms
What a Regulatory Best Interest (Reg BI) is and what it means
How his chapter in “Fiduciary Duty Claims Involving Investment Advisers and Other Financial Professionals” helps to clarify this often-confused part of the financial world
Stephen Brodsky is a litigation and corporate partner with Mazzola Lindstrom LLP in New York City. He represents private companies, business owners, and executives in their business dealings and disputes. His practice is a mix of outside general counsel representation, transactional work, and complex commercial litigation. He spent the first half of his career in “big law” and has practiced for over twenty-five years. Outside of his practice, he serves in leadership positions both in the American Bar Association and New York State Bar Association. Stephen is also the author of a Chapter in a recently published Book discussing Fiduciary Duty Claims Involving Investment Advisers and other Financial Professionals.
Our firm creates financial resilience, find out what that means.
In this episode, Larry Heller, CFP®, highlights how his business is so much more than just an investment management company—it is a place where you can achieve financial resilience. Larry dives into all the ways that they help their clients achieve their financial goals.
Larry discusses:
Why it is important to know your ambitions and desires before creating an investment plan
The importance of tax strategies when it comes to your investments and how to keep the most money
Creating a financial plan so you know how much you need to save before retirement and how much you can spend after retirement
Making sure your legacy plan is properly set up to your wishes
Do you have a mantra that you repeat to yourself daily? How do you ensure that you are in the right mindset to accomplish all that you set out to do in a day?
Larry is thrilled to have Donna Martini, cognitive coach and creator of Positive Manipulation®, back on the show for the latest episode of Life Unlimited!
Larry and Donna discuss how positive manipulation can be applied to your personal aspirations to achieve success. Donna shares her expertise about the power of the mind and how concepts like mantras can be used to shift your outlook on life.
Larry and Donna discuss:
The long term effects of using mantras and applying self-healing processes to your life
The power of visualization in terms of success and how this process can lead you to happiness in various aspects of your life
How the human body is connected to the earth, and the ways in which the pandemic has contributed to a disconnect
Donna Martini is a cognitive coach and student of psychology who has authored many books including “My Mini Book of Mighty Mantras” and the “10 Commandments of Divorce”. She helped people tap into their inmate spiritual power and human potential. Donna has been a wellness and green activists for over three decades and recently created a cartoon character named Mantra Mouse to help spread messages of unconditional love, unity and forgiveness.
Her company, DM Enterprises, LLC is a one-stop, design-to-completion entity that promotes physical, emotional, mental, and spiritual well-being through innovative environmental enhancements and the encouragement of a resolute mindset and healthy lifestyle practices. Every program, book, seminar, and office enhancement is custom fit to meet client needs.
“We hit 100 and we’re not stopping!” – Larry Heller, CFP®
Larry has reached his 100th episode of the Retire Right podcast, a huge milestone in podcasting. During these episodes, Larry has provided his audience with all kinds of valuable information on various topics surrounding retirement.
Now, we’re taking a moment to reflect on the podcast so far — and to break down the exciting news of the rebrand of the Retire Right podcast to the newly titled Life Unlimited. Find out what you can expect for the future of the podcast, as Larry looks back on how far he’s come!
Larry also discusses:
What inspired the change from “Retire Right” to the “Life Unlimited” podcast
His favorite highlights and guests from previous episodes, including a professional organizer and a full-size model train enthusiast
How you can suggest topics and content ideas for the Life Unlimited podcast
Where you can expect to find the podcast — including video recordings
What are you going to do every day in retirement? As you think a little bit more about retirement, there are five important planning steps to keep in mind.
In this episode, Larry Heller discusses each of the five steps to start planning for a well lived retirement. This episode will help you start visualizing your dream retirement and what it looks like for you!
If you still haven’t started your year-end planning yet, now is the time to start. Planning will help you keep more money in your pocket and less in the government’s pocket.
In this episode, Larry Heller shares year-end planning recommendations for retirees so you don’t miss any of these timely planning opportunities.
Larry discusses:
Why retirees need to take their acquired minimum distributions
You don’t know what you don’t know. Whether you are contemplating divorce or are in the process, you want to protect yourself by having the proper communication and documentation.
In this episode, Larry Heller talks with Keren Birnbaum, Esq. a partner with Schwartz Ettenger, PLLC who focuses on estate planning, trust and estate administration, and elder law. Keren shares 10 common estate planning mistakes that divorcees need to be aware of to retire right.
Keren discusses:
Repercussions of not having estate planning documents
The mistake of not updating your estate planning documents
Not updating beneficiary designations in your retirement accounts and insurance policies
Why it’s critical to educate yourself on the assets you own
Keren G. Birnbaum, Esq. is a Partner with Schwartz Ettenger, PLLC where she concentrates her practice in the areas of Estate Planning, Trust and Estate Administration and Elder Law. She has over 10 years of experience advising clients on how to protect themselves, their loved ones and their business in the event of death, incapacity or disability.
Ms. Birnbaum earned her law degree at Hofstra University School of Law and her Bachelor’s Degree at Brandeis University. She is admitted to the New York State Bar, is a member of the New York State Bar Association, Queens County Bar Association, Brandeis Association, and is an active member of the Elder Law and Trusts and Estates Sections of the New York State Bar Association. Ms. Birnbaum has also lectured and published articles on various elder law and estate planning issues.
Life insurance should be customized to you and your needs. As such, your planning professional should provide you with multiple options for insurance that will fit your lifestyle and unique circumstances.
In this episode, Larry Heller interviews Neil Himmelstein, the owner of Main Street Planning Group. Neil reveals the value of customized life insurance and shares strategies and tips you can start using right away with your life insurance policy.
Neil Himmelstein, is an independent wholesaler of insurance products, life disability, fixed annuities and long-term care and strategic partner to advisors across the country. Neil has a graduate degree in economics from the university of Maryland and has done postgraduate studies. He is a proud recipient of the Rudy Stegman award for outstanding achievement in leadership in the industry by long island. Neil has been involved in case design and agency management for over 20 years, specializing in high net worth programs, such as premium finance and restricted property trust and finding solutions for clients with health impairment needs.
