Tag: Financial Planning

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401(k) Plans: What You Need to Know About a Third Party Administrator (TPA) — With Doug Hoefer (Ep. 49)

401(k) Plans: What You Need to Know About a Third Party Administrator (TPA) — With Doug Hoefer (Ep. 49)

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As a business owner, do you understand the core elements of your company’s retirement plan and what a third-party administrator (TPA) can bring to the table?

Today’s guest, Doug Hoefer, is here to answer your questions. Doug has over 20 years of experience in the retirement planning industry and has worked with Larry on several 401(k)s. In this episode, Doug makes sense of TPAs, including what they do and how they bring value to the retirement planning process.

In this episode, you’ll learn:

  • What the function of a TPA is
  • The certification a TPA can obtain
  • The differences between bundled service providers and unbundled service providers
  • How TPAs provide value when designing plans 
  • The responsibilities of plan sponsors
  • And more!

Tune in now to learn all about TPAs and how they can enhance your company’s retirement planning!

Resources:  Heller Wealth Management | DWC The 401k Experts: (651) 204-2600

 

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Investing with Dimensional Fund Advisors: Who They Are and Why They Are Unique (Ep. 48)

Investing with Dimensional Fund Advisors: Who They Are and Why They Are Unique (Ep. 48)

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In today’s episode, Larry Heller speaks with Philipp Meyer-Brauns of Dimensional Funds Advisors. As a senior researcher, Philipp conducts empirical asset pricing research, and today, he’s joining Larry to unpack what exactly Dimensional Fund Advisors is all about and why their trading style is so unique.

In this episode, you’ll learn:

  • The origin of Dimensional Fund Advisors
  • What differentiates Dimensional Fund Advisors and how they manage funds
  • The three-factor model and how it works
  • How their investment philosophy differs from active and passive managers
  • The other types of trading strategies Dimensional Fund Advisors uses
  • And more!

Tune in now to learn all about Dimensional Fund Advisors and their unique trading style! 

Resources:  Heller Wealth Management |  Dimensional Fund Advisors

 

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How Model Trains and Retiring Right Go Together — With Mike Kmeth (Ep. 47)

How Model Trains and Retiring Right Go Together — With Mike Kmeth (Ep. 47)

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Will your retirement be the ride of your life? Or will you simply chug along, going through the motions?

Larry Heller hopes you will love retired life. In this special episode, Larry is joined by one of his clients: a retiree named Mike Kmeth, a shining example of someone who is having a happy retirement. Long an enthusiast of model trains, Mike is enjoying his role as president of the Long Island Garden Railroads Railways Society. Today, he’s sharing his deep knowledge of model trains and why he is so passionate about the club.

In this episode, you’ll learn:

  • How Mike’s interest in trains began
  • The history of model trains’ four power sources
  • Why Mike and his wife decided to join the Long Island Garden Railroads Railways Society
  • How often the club meets, what events they hold, and what Mike’s responsibilities are as president 
  • And more!

Tune in now to hear a fun example of a happy retirement and, of course, to learn more about model trains!

Resources:   Heller Wealth Management | Long Island Garden Railroads Railways Society

 

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Live Your Very Best Encore — With Susan Williams (Ep. 46)

Live Your Very Best Encore — With Susan Williams (Ep. 46)

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What will keep you feeling zestful, connected, and fulfilled during retirement?

Today, Larry Heller, CFP®, CPA, is joined by guest Susan Williams to discuss the non-financial aspects of retirement. Susan is the founder of Booming Encore, a digital-media hub dedicated to providing information and inspiration to help baby boomers live their very best encore. As an enthusiast for bringing the latest resources to baby boomers, Susan discusses the latest trends in the lifestyles of our aging population and why living purposefully is imperative to our health. 

In this episode, you’ll learn:

  • Which baby-boomer topics are trending on Booming Encore
  • What research is revealing about the health outcomes of retirees who lack purpose
  • Inspirational stories of baby boomers who are turning society’s perception of aging upside down
  • About the growing popularity of generational travel
  • Susan’s key advice for future retirees
  • And more!

Tune in now to learn about this robust resource for baby boomers and get inspired to plan for the non-financial aspects of retirement! 

Resources:  Heller Wealth Management | Booming Encore

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What You Must Know About Changing Your State Residence — With Karen J. Tenenbaum (Ep. 45)

What You Must Know About Changing Your State Residence — With Karen J. Tenenbaum (Ep. 45)

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Would you ever make a big move to a tax-free state like Florida? 

Now more than ever, people are leaving New York State for tax-free states only to discover that their residency, for tax purposes, hasn’t changed.

Tax rules around residency can be complex and ambiguous, but today’s guest brings clarity to the subject. CPA and tax attorney Karen J. Tenenbaum is the founder and managing partner of Tenenbaum Law, P.C., which focuses its practice on the resolution of IRS and New York State tax controversies. In this episode, Karen fills Larry Heller in on how the residency rules work in New York State, what to expect if you get audited, and options for resolving a tax matter.

In this episode, you’ll learn:

  • Which lifestyle factors will increase your likelihood of being audited
  • How your residency is determined
  • Why New York’s tax rules affect high-net-worth individuals the most 
  • How New York State calculates the days for the 183-day requirement
  • How to protect and defend yourself at an audit
  • And more!

Tune in now to learn how your residency is determined and actions to take if you get audited.

Resources:  Heller Wealth Management | Tenenbaum law, P.C.: (631) 465- 5000 | e-book: Surviving a New York State Residency Audit| ktenenbaum@LItaxattorney 

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15 Ways to Make More Money in Your 401(K) Plan — With Paul Merriman (Ep. 44)

15 Ways to Make More Money in Your 401(K) Plan — With Paul Merriman (Ep. 44)

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It’s time to find out how you can make more money in your 401(k) plan!

In today’s episode, Larry Heller is joined by Paul Merriman, the founder of Merriman Wealth Management. Paul is a nationally recognized expert on mutual funds, indexed investing, buy and hold investment strategies, and asset allocation. Given Paul’s expertise and dedication to educating investors, Larry is excited to have Paul here to share 15 ways to make more money in your 401(k) plan.

In this episode, you’ll learn:

  • Why Paul suggests putting money into your 401(k) as early as possible, even if it means asking your parents for a loan
  • The case for using a Roth, regardless of your current tax rate
  • Why Paul recommends that every young person should have asset classes in their portfolio
  • Why equities, not fixed income, are the great defender against inflation
  • The power of the target date fund
  • And more!

Tune in now to learn 15 ways you could start making more money in your 401(k) plan today!

Resources:  Heller Wealth Management | Paul Merriman

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The Social Security Conundrum – Part 1 (Ep. 9)

The Social Security Conundrum – Part 1 (Ep. 9)

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In this podcast, Larry shares insight on the Social Security benefits to help clear up the misunderstandings people commonly have.  This four-part series will help you understand the ins and outs of Social Security, including eligibility, when to collect, and what to collect.

Learn more about Social Security in this podcast with Larry Heller, as he discusses the first part of the four-part series:

Learn How to Retire Right with Complete Financial Advice at: Heller Wealth Management

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How Much Can I Spend In Retirement? – 4 Questions (Ep. 8)

How Much Can I Spend In Retirement? – 4 Questions (Ep. 8)

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In this podcast, Larry Heller shares the biggest question people ask when nearing retirement: “How much money can I spend?” Most people don’t even know the amount they spend currently, and in order to determine what they can spend in retirement, they need to know their current expenses.

Here are 4 questions that need to be answered to determine what you can spend in retirement:

Learn How to Retire Right with Complete Financial Advice at: Heller Wealth Management

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The 7 Biggest Concerns Clients Have When Preparing for Retirement (Ep. 7)

The 7 Biggest Concerns Clients Have When Preparing for Retirement (Ep. 7)

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Larry shares more about the concerns clients have when preparing for retirement. Over the years, financial professionals have met with hundreds of clients, and for the most part, they have similar concerns. In fact, there are seven concerns that stand out from the rest, as they are the main points people looking to retire are most worried about.

Learn more about the seven biggest concerns clients have when preparing for retirement in this podcast:

Learn How to Retire Right with Complete Financial Advice at: Heller Wealth Management

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Fourth Pillar of the Complete Financial House – Progress (Ep. 6)

Fourth Pillar of the Complete Financial House – Progress (Ep. 6)

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Larry shares more on the Fourth Pillar of the Complete Financial House – Progress. A financial planner will help you set a strategy and game plan towards your goal, although sometimes it’s hard to stay on track with plans we’ve put in place. Having a planner who is fully dedicated to the plan is recommended. We also want to keep looking at the plan regularly and have short-term goals we can meet outside of the long-term plan. This way, we can see our progress and be sure that we are going in the right direction.

Learn more about the Fourth Pillar of the Complete Financial House in this podcast:

Learn How to Retire Right with Complete Financial Advice at: Heller Wealth Management