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

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

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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 )

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

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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)

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

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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:

Connect With Larry Heller:

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)

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

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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: 

Connect With 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)

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

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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: 

Connect With Stephen Brodsky:

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.

Do NOT USE
Year-End Planning Recommendations for Retirees (Ep. 98)

Year-End Planning Recommendations for Retirees (Ep. 98)

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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:

Do NOT USE
10 Common Estate Planning Mistakes Made by Divorcees With Keren Birnbaum, Esq. (Ep. 97)

10 Common Estate Planning Mistakes Made by Divorcees With Keren Birnbaum, Esq. (Ep. 97)

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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
  • And more

Connect With Keren G. Birnbaum, Esq:

Connect With Larry Heller:

About Our Guest:

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.