Tag Archives: Financial Advisor

RMDs & The Age Increase: What This Means For Your Portfolio (Ep.125)

March 22, 2023Financial Planning, Financial Strategies, Larry Heller, Life Unlimited, Retirement, Retirement Planning#Podcast, Business Exit Planning, Business Strategies, Certified Financial Planner, CFP, Financial Advisor, Financial Planner, Heller Wealth Management, Investing For Women, Investment Management, Life Unlimited, Long Island, New York, Personal Finance, Portfolio Management, Retirement, Wealth ManagementLife Unlimited

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With the emergence of the new SECURE (Setting Every Community Up For Retirement Enhancement) Act 2.0, there are upwards of 100 different changes made that will affect the onset and process of your retirement. The one in the hot seat today is the RMD (Required Minimum Distribution) age change.

In this episode, Larry Heller, CFP®, discusses one of the most important changes for those nearing RMD age and explains how this change might impact your investment strategy moving forward, as well as ways to implement tax savings strategies.

Larry discusses:

How your investment strategy might change with the requirement age of RMDs being pushed back
How you can juggle different accounts in this process with a longer time horizon
The increased time you have to pull out your RMDs and how this may impact your portfolio and retirement
The importance of tax planning for your IRA
And more

Connect with Larry Heller:

QDROs & Divorce: Understanding the Settlement of Retirement Assets with Derrick A. Rubin, Esq. (Ep. 124)

March 8, 2023Financial Planning, Financial Strategies, Larry Heller, Life Unlimited, Retirement, Retirement Planning#Divorce, #Podcast, Attorney, Business Exit Planning, Business Strategies, Certified Financial Planner, CFP, Financial Advisor, Financial Planner, Heller Wealth Management, Investing For Women, Investment Management, Life Unlimited, Long Island, Marital Law, New York, Personal Finance, Portfolio Management, Retirement, Wealth ManagementLife Unlimited

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Most people don’t prepare for a divorce before they get married. In most divorces, property that was acquired during the marriage is subject to division between the spouses depending on a number of factors.

Dividing assets and understanding how they are calculated post-separation is a crucial step in the divorce process. A QDRO can be used to divide retirement assets between the two spouses as a part of the property settlement.

In this episode, Larry Heller, CFP®, is joined by Derrick A. Rubin, partner at Wisselman, Harounian & Associates to discuss how you can navigate a divorce when it comes to using a QDRO to split assets.

Derrick focuses on:

What a QDRO (Qualified Domestic Relations Order) is, and how it works
How various retirement plans differ in divorce settlements
The process of equitable distribution
And more

Connect with Derrick Rubin:

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About Our Guest:

Derrick A. Rubin, Esq. is a Partner at Wisselman, Harounian & Associates, P.C. and has been with the firm since 1997. He has been recognized by Newsday as an expert in matrimonial law and has been named a New York Metro Super Lawyer for 7 consecutive years. In addition to matrimonial law, he has extensive experience in residential and commercial real estate, estate planning, civil litigation and criminal and business law.

The Importance of Instilling Financial Literacy in Children with Karen Tenenbaum, co-creator of Walter the Vault (Ep. 123)

February 22, 2023Financial Planning, Financial Strategies, Larry Heller, Life Unlimited, Retirement, Retirement Planning#Podcast, Business Exit Planning, Business Strategies, Certified Financial Planner, CFP, Financial Advisor, Financial Planner, Heller Wealth Management, Investing For Women, Investment Management, Life Unlimited, Long Island, New York, Personal Finance, Portfolio Management, Retirement, Wealth ManagementLife Unlimited

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When today’s guest witnessed her 5-year-old daughter squeal with delight by inserting a quarter into a vending machine, she knew she had to instill proper financial habits, and fast.

Did you know that by the age of seven, most children have built their foundation for how they view, and spend money? To help ward off life-long implications from poor spending decisions, Karen Tenenbaum, Esq, CPA, co-founder of Commerce Plaza Inc., and Walter the Vault, made it her mission to bring financial literacy to the schools of New York.

Join Larry Heller, CFP® as he chats with Karen about her efforts in providing financial literacy education to children through working with school districts, obtaining grants, and giving life to a character that uses rhyme to teach money skills.

Listen as Karen discusses:

Why learning about money at a young age is essential to building life-long skills
How she’s helped 75,000 children take part in a 6-week financial literacy curriculum
Why Walter the Vault was created and how he makes learning fun and interactive
And more!

Resources:

Connect with Karen Tenenbaum:

Connect with Larry Heller:

About Our Guest:

Karen Tenenbaum, Esq, LL.M., CPA, has been an attorney for over 35 years and founded her firm, Tenenbaum Law, P.C. which helps individuals and businesses facing IRS and New York State tax problems. Karen is a frequent speaker on IRS and NYS Tax issues for numerous professional groups and serves as a committee member and chairwoman of several local organizations. Karen is the co-creator of Walter the Vault and co-founder of Commerce Plaza, Inc. both of which promote financial literacy.

Why women need to be aware of their financial situation with Belinda Tsui (Ep.122)

February 8, 2023Financial Planning, Financial Strategies, Larry Heller, Life Unlimited, Retirement, Retirement Planning#Podcast, Business Exit Planning, Business Strategies, Certified Financial Planner, CFP, Financial Advisor, Financial Planner, Heller Wealth Management, Investing For Women, Investment Management, Life Unlimited, Long Island, New York, Personal Finance, Portfolio Management, Retirement, Wealth Management, WomenLife Unlimited

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Calling all women!! Are you currently in a position where your partner manages your finances and you have no idea what they are? Then it’s time for you to get more involved in these conversations.

Being aware of your assets and investments while truly understanding all of your finances is more important than ever. It allows you to take the burden off your future self in case you are faced with a big life change that may impact the way in which you manage your finances.

In this episode, Larry Heller, CFP®, is joined by Belinda Tsui, CFP® a Wealth Manager at Heller Wealth Management to discuss what women need to know when it comes to managing their finances, with, or without a partner.

Belinda and Larry discuss:

Experiences they have had with women clients that were not involved in their financial situation and the impact it had when faced with a life change.
The importance of both spouses being part of the financial meetings and discussions regarding familial financial decisions
How women can get more involved in the financial planning process
And more

Connect with Belinda Tsui:

(631) 248-3600

Heller Wealth Management

LinkedIn: Belinda Tsui

Connect with Larry Heller:

About Our Guest:

As a wealth manager with over 20 years experience, Belinda Tsui, CFP® has been with Heller Wealth Management since 2019. She focuses on advising, counseling, and creating financial resilience for high-net-worth individuals, divorcees/widows and business owners with a concentration of working with women.

Using a Cash Balance Plan to Save Large Pre-Tax Dollars with David Yackel (Ep.121)

January 18, 2023Financial Planning, Financial Strategies, Larry Heller, Life Unlimited, Retirement, Retirement Planning#Podcast, Business Exit Planning, Business Strategies, Certified Financial Planner, CFP, Financial Advisor, Financial Planner, Heller Wealth Management, Investing For Women, Investment Management, Life Unlimited, Long Island, New York, Personal Finance, Portfolio Management, Retirement, Wealth ManagementLife Unlimited

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A Cash Balance Plan allows you to put away larger amounts than a traditional defined contribution retirement plan. In this episode, Larry Heller, CFP®, is joined by David Yackel from Pension Review Services to talk about all things cash balance planning.

David discusses:

How a cash balance plans differ from your traditional defined contribution retirement accounts
Why a cash balance plan is beneficial if you are looking to save large amounts pre-tax
Who is a good candidate for a Cash Balance Plan
How you can take advantage of a retroactive cash balance plan for 2022
And more

Connect With David Yackel:

Connect With Larry Heller:

About David Yackel:

David Yackel heads up the consulting practice for Pension Review Services. He is responsible for defined benefit plan actuarial valuations and is involved in many aspects of the firm’s Pension and Profit Sharing and Non-qualified Retirement Plan activities. Dave reviews plans for legal and technical actuarial compliance and, when necessary, designs new plans to meet clients’ needs, while providing insight into how their plans are performing and what variables will determine performance long-term. Dave’s expert analysis and recommendations allow clients to make intelligent, informed decisions that move them closer to their financial goals.

Prior to joining Pension Review Services, Dave worked at Chernoff Diamond & Co., LLC, where he served as the Chief Consulting Actuary for over 30 years. David also worked at Kwasha Lipton and William M. Mercer, where he provided actuarial and consulting services to a varied group of corporate employers.

Dave is active in the pension community and has presented before various Society of Actuaries groups and meetings.

Dave commented, “At Pension Review Services, I’m able to surround myself with a team of top notch professionals who keep me inspired and energized—attributes that ultimately benefit my clients as well.”

Sage Advice for Simplifying your Life with Financial & Lifestyle Concierge, Judith Heft CMC® (Ep. 120 )

January 11, 2023Financial Planning, Financial Strategies, Larry Heller, Life Unlimited, Retirement, Retirement Planning#Podcast, Business Exit Planning, Business Strategies, Certified Financial Planner, CFP, Financial Advisor, Financial Planner, Heller Wealth Management, Investing For Women, Investment Management, Life Unlimited, Long Island, New York, Personal Finance, Portfolio Management, Retirement, Wealth ManagementLife Unlimited

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When life feels like it is running faster than you can handle, don’t you wish that you had some sort of manual to keep your life in check? Organizing your finances can help you avoid late fees and missed payments, and help you reduce stress and free up your time to do things you enjoy.

In this episode, Larry Heller, CFP® welcomes the founder and CEO of Judith Heft & Associates, Financial and Lifestyle Concierge. Judy Heft, CMC® joins Larry to talk about money management throughout all stages of life, how important it is to get your finances organized, and how knowing how and where you spend your money can help you feel financially confident.

Judy discusses:

How a hobby of bookkeeping turned into a business
Client success stories that put Judy’s organizational tactics to use
Why it’s important to take stock of your automatic, online payments
And more!

Resources:

Connect With Judy Heft:

Connect With Larry Heller:

About Our Guest:

Judy Heft, CMC® is the CEO of Judith Heft and Associates Financial and Lifestyle Concierge. Judy Heft and Associates has built its reputation on simplifying the chaos of their clients’ lives to give them more time to do what they want to do. A few of Judy’s many attributes include author, financial organizer and bookkeeper. Judy has a passion for helping people get organized, save money and have more time to enjoy life. Her clients come from all walks of life, including time challenged executives, divorcees and individuals with special needs.

Everything You Need To Know About Prenuptial Agreements With Sandra Radna, Esq (Ep.114)

October 4, 2022Financial Planning, Financial Strategies, Larry Heller, Life Unlimited, Retirement, Retirement Planning#Divorce, #Podcast, Assets, Divorce Advice, Divorce Law, Finance, Financial Advisor, Financial Planning, Law, Life Unlimited, Marriage, Money Management, Prenuptial AgreementsLife Unlimited

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Despite common belief, prenuptial agreements are not just for the ultra rich. They can benefit anyone from any financial background.

In this episode, Larry Heller, CFP invites matrimonial attorney Sandra Radna, Esq to discuss prenuptial agreements and what benefits they serve to both individuals in a marriage.

Sandra also discusses how prenuptial agreements do not come as one-size-fits-all, and highlights how you can create an agreement that matches your wants and needs.

Sandra discusses:

How prenuptial agreements can protect you and your spouse during a marriage
Why prenuptial agreements are not just for multi-millionaires (despite common belief)
How much time prior to the wedding you should establish a prenuptial agreement
What is a postnuptial agreement?
And more

Resources:

Connect With Sandra Radna:

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About Our Guest:

Sandra M. Radna Esquire is an award-winning New York attorney and the owner of Sandra M. Radna P.C. Sandra has been published and quoted in a number of periodicals concerning the intersection of finances and matrimonial law, including CNBC.com, Yahoo Finance Observer, Business Insider, and more. She’s also the author of the book “You’re Getting Divorced…Now What?”.

Navigating The Myriad of Tasks After The Loss of a Loved One with Ronnie Genser (Ep.113)

September 26, 2022Financial Planning, Financial Strategies, Larry Heller, Life Unlimited, Retirement, Retirement Planning#Podcast, Finance, Finance Podcast, Financial Advisor, Financial Plan, Financial Planning, Financial Services, Funeral, Life Unlimited, Losing A Loved One, Marriage, Planning, Retirement, Social SecurityLife Unlimited

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One of the last things you want to worry about when you lose a loved one are the numerous non-financial tasks after the loss of a loved one.

Unfortunately, this is the reality for a lot of people.

In this episode, Larry Heller invites Ronnie Genser, President at Bereavement Navigators, to discuss all you need to know when it comes to navigating the myriad of taxes after the loss of a loved one, especially a spouse.

Ronnie discusses:

How the loss of a loved one impacted her career and finances
How to prepare for the loss of a spouse from a non-financial standpoint
What inspired her to found Bereavement Navigators, a company that helps widows and widowers navigate the myriad of non-legal and non-legal and non-financial aspects of losing a loved one
How to navigate Social Security for the deceased without the headache
And more

Resources:

Life Unlimited: What You Need To Know About Retiring in a Recession (Ep.112)

Connect With Ronnie Genser:

LinkedIn: Ronnie Genser

Connect With Larry Heller:

About Our Guest:

Ronnie Gensers’ professional background includes over 20 years in international and domestic sales, marketing, training and consulting.

Unfortunately, Ronnie’s successful career path took an unexpected turn after the sudden death of her husband. The things Ronnie learned about what she needed to do after her husband’s death include how to organize the numerous and unexpected tasks and the resources she found and the tips she learned. She now shares her work as a Bereavement Navigator with widows, widowers, adult children, and other relatives who have lost loved ones.

What You Need to Know About Fiduciary Duty Claim For Financial Professionals With Stephen Brodsky (Ep.103)

March 16, 2022Financial Planning, Financial Strategies, Life Unlimited, Retirement, Retirement Planning#Podcast, Fiduciary Duty, Financial Advisor, Financial Professional, Law, Life Unlimited, Mazzola Lindstrom LLP, Stephen BrodskyLife Unlimited

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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
And more

Resources:

https://www.americanbar.org/products/inv/book/419072477/

Connect With Stephen Brodsky:

Email Stephen
(646) 216-8300 Ext. 114
M: (516) 314-1407
LinkedIn: Stephen Brodsky
Mazzola Lindstrom LLP

Connect With Larry Heller:

About Our Guest:

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.

98. Year-End Planning Recommendations for Retirees

December 17, 2021Financial Planning, Financial Strategies, Larry Heller, Retirement, Retirement PlanningAssets, Charitable Contributions, Estate Planning, Financial Advisor, Investment, Retire Right, Retirement Accounts, Roth ConversionsLife Unlimited

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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
Ways you can save money from taxes
Roth conversion and cash flow planning strategies
Charitable contribution planning strategies
And more

Connect With Larry Heller: