Category: Financial Planning

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Beyond Accumulation: Mastering Your Retirement Distribution Strategy [Ep. 164]

Beyond Accumulation: Mastering Your Retirement Distribution Strategy [Ep. 164]

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Retirement isn’t just about accumulating wealth – it’s about making sure it lasts. 

In this episode, Larry Heller, CFP®, CDFA®, explores the essential elements of a well-rounded distribution strategy for retirement, including guiding you through five key areas every retiree should prioritize: income vs. total return, tax management, investment allocation, longevity, and estate planning.

Larry dives deep into the shift from accumulation to distribution, revealing strategies to help retirees sustain income, reduce taxes, and cover health expenses—all while preparing a meaningful legacy. With a focus on turning retirement into a financially secure and fulfilling stage of life, this episode provides actionable advice on balancing your immediate needs with a long-term vision.

Whether you’re entering retirement or aiming to enhance your financial strategy, this episode will equip you with the tools and mindset to enjoy a confident and comfortable retirement.

Key Points Covered:

  • Combining income sources like Social Security, pensions, and investments to balance retirement income and comfort
  • Reducing tax burdens through Roth conversions and managing required minimum distributions (RMDs) under the latest Secure Act changes
  • Using the “reservoir strategy” to balance cash, bonds, and equities for steady income and minimized risk
  • Addressing healthcare and long-term care costs to protect assets and maintain financial stability
  • Aligning estate plans with tax strategies to maximize inheritance for heirs
  • And much more!

Actionable Takeaway: Review your retirement plan to ensure it supports your lifestyle, reduces tax impacts, and aligns with your legacy goals. Consult a financial planner to tailor it to your unique needs for a fulfilling retirement.

 

Resources:

Connect with Larry Heller: 

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Risky Business: The Hidden Risks of Handshake Agreements with Rachel Partain [Ep. 163]

Risky Business: The Hidden Risks of Handshake Agreements with Rachel Partain [Ep. 163]

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Handshake deals might seem convenient, but they could put your business at serious risk. Discover how to protect your company from these hidden dangers and build a reliable foundation.

Larry Heller, CFP®, CDFA®, is joined by Rachel Partain, a leading tax attorney and partner at Forchelli Law, to break down the risks of running a business without formal agreements. 

Whether you’re launching a startup, managing growth, or exploring new partnerships, Rachel provides actionable insights to help you understand the risks of inadequate documentation and strengthen your business with essential agreements and expert legal guidance.

Key Points Covered:

  • The widespread use of handshake agreements and the risks they pose to businesses
  • The impact on business management from operational turmoil caused by unclear leadership succession plans to disputes over roles, voting rights, and profit distribution
  • Barriers to securing loans and attracting investors due to informal business structures
  • Tax complications, such as IRS audits and challenges related to shareholder contributions
  • Legal exposure, including the risk of litigation and potential personal asset vulnerability
  • And much more!

Actionable Takeaway: Assess your current business agreements today and consult a professional to protect yourself against potential financial and legal challenges.

Connect with Rachel Partain:

Connect with Larry Heller: 

About Our Guest:

Rachel L. Partain is a Partner at Forchelli Law concentrating her practice on complex tax advisory and tax controversy services for low to middle-market businesses and high-net-worth individuals. Rachel advises businesses on how to structure transactions in a tax-efficient manner and handles general corporate and transactional matters.

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The Ripple Effect: How Recent Fed Actions Affect your Financial Plan [Ep. 162]

The Ripple Effect: How Recent Fed Actions Affect your Financial Plan [Ep. 162]

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Interest rates may be falling, but your financial strategy doesn’t have to follow. Learn how to stay ahead in today’s ever-changing financial landscape.

Larry Heller, CFP®, CDFA®, breaks down how these shifting rates impact everything from mortgages to retirement plans. Whether you’re buying a home, optimizing investments, or planning for your financial future, Larry offers actionable insights to help you navigate today’s economic landscape. Covering the rise and fall of interest rates and their effects on borrowing, saving, and investing, he provides strategies for adapting your financial plan across asset classes to protect your wealth.

Key Points Covered:

  • The Federal Reserve’s interest rate cut and its broader economic implications
  • How shifting rates impact mortgage costs, housing availability, and borrowing strategies
  • Key adjustments to retirement planning, including withdrawal rates and asset allocation in a low-rate environment
  • Adapting your savings strategy with CDs and treasuries (while considering the current inverted yield curve!)
  • Effective investment approaches across bonds, stocks, and real estate in the face of rate fluctuations
  • Opportunities in private equity and private credit investments as interest rates decrease
  • The importance of a diversified strategy and proactive communication, as emphasized by Heller Wealth Management
  • And much more!

 

Connect with Larry Heller: 

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Breaking Free: Unmasking High Conflict Divorces with Susan Bernstein [Ep. 161]

Breaking Free: Unmasking High Conflict Divorces with Susan Bernstein [Ep. 161]

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High-conflict divorces are some of the most emotionally draining and complex experiences a family can face, especially when children with special needs are involved. In this episode of Life Unlimited, host Larry Heller, CFP®, CDFA®, sits down with Dr. Susan K. Bernstein, a certified divorce coach specializing in high-conflict cases, to explore how divorce coaching can help navigate this emotionally charged process.

Dr. Bernstein shares practical strategies to save time, reduce costs, and help families manage the legal and emotional hurdles of divorce. From uncovering hidden assets to ensuring proper care for special needs children, her advice offers a roadmap for those seeking a more manageable, less overwhelming approach to divorce.

Key Points Covered:

  • The role of a divorce coach in offering emotional support, preparing clients for legal meetings, and simplifying high-conflict divorces
  • Strategies for handling challenges like hidden assets, domestic abuse, and custody battles in high-conflict divorces
  • The importance of organizing finances and emotionally preparing children before starting legal proceedings
  • The value of a team approach, including a CDFA®, attorney, and therapist, to streamline the divorce process
  • Dispelling the myth that hiring a divorce coach increases costs, when it actually saves money by reducing inefficiencies
  • And more!

 

Connect with Dr. Susan Bernstein:

Connect with Larry Heller: 

 

About Our Guest:

Dr Bernstein is a Certified Divorce Coach and Certified High Conflict Divorce Coach with a speciality in Post Divorce Transition and  Recovery and will help you go through the changes of divorce with ease.  She helps clients achieve their goals and get to where they want to be.  Susan helps many clients who want to get out of toxic relationships get what they need and deserve related to their children and finances. Susan is a mom, best selling author, leader for Vesta Divorce and the National Association of Divorce Professionals (NADP) as well as The Divorce Coalition. She teaches a mastermind class and coaches coaches! She is also a Certified Divorce Specialist and Pre Mediation Divorce coach. Prior to becoming a Certified Divorce Coach Susan earned her doctorate in Education Leadership and was a school teacher and administrator. Her studies and focus have always been on what is best for the children.  Susan’s promise to you is that you will end each session with action steps to get you closer to achieving your goals and the life you want! Susan is the coach that attorneys hire for their own divorce! 

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The Six Silent Threats to Your Retirement [Ep. 160]

The Six Silent Threats to Your Retirement [Ep. 160]

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Could these six retirement mistakes jeopardize a successful retirement? What steps can you take to avoid them?

In this eye-opening episode of Life Unlimited, host Larry Heller, CFP®, CDFA®, reveals six critical retirement mistakes that could threaten your financial security when it comes to planning for your retirement. These pitfalls are unfortunately common, but there are steps you can take to better prepare for these financial curveballs. 

Key Points Covered:

  • Understanding the importance of a written financial plan
  • Recognizing the risks of overly optimistic investment assumptions
  • Identifying the impact of not spending enough
  • Exploring the dangers of blindly trusting financial advisors
  • Learning the risks of generosity towards family
  • Balancing and diversifying your investment portfolio
  • And much more!

 

Resources:

Connect with Larry Heller: 

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Divorce Without Drama: Understanding Collaborative & Mediation Options with Andrea Vacca [Ep. 159]

Divorce Without Drama: Understanding Collaborative & Mediation Options with Andrea Vacca [Ep. 159]

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Divorce is rarely easy, but what if there were alternatives to the adversarial process of litigation that could lead to more peaceful resolutions? 

In this episode of the Life Unlimited podcast, host Larry Heller, CFP®, CDFA® is joined by Andrea Vacca, Founder of Vacca Family Law Group, to define and explore two powerful divorce alternatives: mediation and collaborative law.

From choosing the right attorney to the importance of strong communication skills, Andrea provides tips and resources for transitioning between mediation and collaborative law, ensuring you have the support you need every step of the way. If you’re facing a divorce or simply curious about your options, this conversation could be the key to finding a less stressful, cost effective, and more collaborative path forward.

Key Points Covered:

  • The definitions and differences between Mediation and Collaborative Law and how these processes address both the emotional and practical needs of both people
  • How these methods give couples more control over their own divorce process, often leading to clearer agreements and fewer post-divorce regrets
  • The positive mindset these methods reinforce with their focus on problem-solving and mutual agreement
  • Practical tips such as choosing the right attorney and emphasizing clear communication between spouses
  • The benefits of having a team working on your case versus a solo attorney
  • And much more!

 

Resources:

Connect with Andrea Vacca:

Connect with Larry Heller: 

 

About Our Guest:

Andrea Vacca graduated from SUNY College at Buffalo with a B.A. in Journalism and received her J.D. from Albany Law School of Union University. Andrea was admitted to the New York State Bar in 1993 and to the Federal Bar, N.D.N.Y. in 1994. She earned a Certificate in Positive Psychology in 2013.

Whether you are ending a relationship or trying to prevent potential problems in your current relationship, Andrea wants to help you reach your goals with minimal conflict. Andrea gets to know her clients, their concerns, and their goals for their future so that she can assist them by crafting solutions to meet specific needs before, during, or at the end of a marriage.

As an attorney in the collaborative process, Andrea is a strong advocate for her clients without being adversarial, and without inflaming the strong emotions that can arise during divorce. When serving as a mediator, she helps both parties understand each other’s concerns, bridge their differences, and arrive at an agreement that works for both.

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New Laws, New Opportunities: Secure Act 2.0 Changes to 529 Plans [Ep. 158]

New Laws, New Opportunities: Secure Act 2.0 Changes to 529 Plans [Ep. 158]

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Could your children or grandchildren’s 529 plan be the key to their future retirement success? 

In this insightful episode of Life Unlimited, host Larry Heller, CFP®, CDFA®, explores the new provisions of the Secure 2.0 Act that allow 529 plan rollovers to Roth IRAs. Larry outlines the conditions and strategic benefits of this new rule, offering listeners practical advice on optimizing retirement strategies.

Key Points Covered:

  • Understanding the traditional benefits of 529 plans for tax-free educational savings
  • Exploring the new rules for 529 plan rollovers to Roth IRAs:
  • Strategic benefits of overfunding 529 plans to maximize retirement savings for beneficiaries
  • Illustrating potential growth of rolled-over funds with examples showing substantial retirement savings growth
  • And much more!

 

Connect with Larry Heller: 

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Unlocking Real Estate Wealth: 1031 Exchanges and DSTs with Stephen Davis [Ep. 157]

Unlocking Real Estate Wealth: 1031 Exchanges and DSTs with Stephen Davis [Ep. 157]

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Ready to transform your real estate assets into a tax-efficient retirement plan?

Want to maximize your real estate wealth without the headache of property management?

Join host Larry Heller, CFP®, CDFA®, as he explores the world of 1031 exchanges with Stephen K. Davis, President and CEO of Safe Harbor Asset Management. With over 40 years of experience in financial services, Davis discusses the benefits and intricacies of 1031 exchanges and DSTs, offering valuable insights for property owners and investors.

Key Points Covered:

  • Understanding 1031 exchanges and their role in deferring capital gains taxes
  • Significant tax advantages of 1031 exchanges, including indefinite deferral of taxes
  • How 1031 exchanges reduce property management responsibilities
  • The benefits of Delaware Statutory Trusts (DSTs) for diversifying investments
  • Practical success stories illustrating the benefits of DSTs
  • The importance of tailoring DST investments to meet specific liquidity needs
  • The expected wealth transfer in the real estate market over the next 15 years
  • And much more!

 

Resources:

Connect with Stephen K. Davis:

Connect with Larry Heller: 

 

About Our Guest:

Stephen Davis, President and CEO of Safe Harbor Asset Management, specializes in tax avoidance strategies, particularly 1031 exchanges. With extensive experience in financial services, Davis provides guidance on transitioning to passive investments and maximizing tax deferral benefits through DSTs. His deep knowledge and practical insights help clients navigate complex real estate transactions and achieve financial security.

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Corporate Benefits to Cash Management Plans: A Deep Dive Into How We Work with Business Owners (Ep. 156)

Corporate Benefits to Cash Management Plans: A Deep Dive Into How We Work with Business Owners (Ep. 156)

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How can business owners keep their financial strategies effective for long-term success?

In this informative episode of Life Unlimited, host Larry Heller, CFP®, CDFA®, reveals the intricacies of corporate benefits and cash management tailored for business owners. Learn how regularly updating 401k plans, optimizing cash reserves, and leveraging professional networks can alter your business. Obtain actionable insights on attracting and retaining employees, maximizing tax advantages, and implementing successful financial planning strategies.

Key Points Covered:

  • Enhancing employee retention and tax benefits by updating 401k plans
  • Ensuring a robust, tax-advantaged retirement plan to provide the business significant savings while attracting and retaining top talent
  • Simplifying employee investment decisions with model portfolios
  • Optimizing cash management and utilizing high-yield strategies for better returns
  • Saving additional funds through strategic cash balance plans
  • Leveraging a network of experts for comprehensive business support
  • Larry’s hands-on experience and credible advice for business owners
  • And More!

Tune in to transform your business’s financial strategy and achieve long-term success.

 

Resources: 

► Services Triangle

► Our Approach 

Connect with Larry Heller: 

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ESOPs Explained: Bridging the Wealth Gap with Chris Coates [Ep. 155]

ESOPs Explained: Bridging the Wealth Gap with Chris Coates [Ep. 155]

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What if your employees could help drive your business to new heights while investing in their own financial futures? 

Uncover the power of ESOPs now!

Join host Larry Heller, CFP®, CDFA®, as he discusses the intricacies of ESOPs with Chris Coates, a skilled professional in business transition strategies. With over 30 years of experience, Coates offers an in-depth look at how ESOPs work, the benefits they provide, and why they are a compelling option for many business owners. 

Key Points Covered:

  • Understanding ESOPs, including their basics and role as retirement benefits for employees
  • Significant tax advantages of ESOPs for both C and S corporations, including potential legislative changes
  • Ways ESOPs foster employee loyalty and incentivize employees to act like owners
  • The role of ESOPs in leadership succession and long-term business sustainability
  • How ESOPs enhance employee retirement benefits alongside existing 401k plans
  • A balanced look at the pros and cons of ESOPs for business owners and employees
  • Plus, additional insights into maximizing the benefits of ESOPs!

 

Connect with Chris Coates:

Connect with Larry Heller: 

About Chris Coates:

In his role as Vice President, Chris advises companies, owners and other stakeholders on business transition strategies, with a particular focus on ESOP ownership transactions. He has extensive deal shaping, negotiation and operational management experience that provide him with a unique perspective on the opportunities and challenges of companies seeking to implement employee ownership.

Prior to joining SES ESOP Strategies, Chris was a Managing Director with Accenture, a global consulting firm. During his 30-year career he has worked with various industries, including life sciences, utilities, consumer products, financial services and health and public service. In his most recent role as Commercial Director, Chris oversaw all operational aspects of sales and delivery to large, complex and global clients. This included oversight for the financial, legal, human resources and business operations aspects of the relationship.