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

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

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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)

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

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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

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)

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.  

 
Investing with the Reservoir Strategy (Ep.119)

Investing with the Reservoir Strategy (Ep.119)

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To avoid worrying about day-to-day stock market volatility, it might be a good idea to start investing with the reservoir strategy. Turn off the media, stop listening to those so-called experts that make short term predictions in the stock market. Have a plan in place especially when you are withdrawing money to create an investment portfolio that provides three reservoirs so you can stop worrying about current market volatility. 

In this episode, Larry Heller, CFP® discusses the importance of prepping clients before they start making investing decisions. He explains how he has been able to educate, and talk to clients prior to implementing investment strategies, and how Heller Wealth Management creates an Reservoir Investment  Strategy that works both when markets are doing well, AND when they are struggling. 

Larry discusses: 

  • How he works with his clients to prepare a well-rounded strategy in anticipation of market volatility 
  • Why knowing your financial “time-horizon” is so important
  • How your retirement plans affect how you make your investing decisions
  • The significance of identifying, or revisiting your risk tolerance level
  • And more

Resources:

Connect With Larry Heller:
Shedding Light on Low Vision with Dr. Steven Schoenbart (Ep. 118)

Shedding Light on Low Vision with Dr. Steven Schoenbart (Ep. 118)

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Do you have trouble seeing clearly? Low vision refers to anything less than 20/20, accompanied by some sort of blur, or loss of vision. To help correct it, there are a number of helpful solutions available, such as different types of lenses, adjusting your diet, reviewing your overall health and bloodwork with your family doctor and mineral supplements. 

In this episode, Larry Heller, CFP®, is joined by Dr. Steven Schoenbart, OD, the founder of Schoenbart Vision Care in Garden City, New York. He has been practicing in the optical industry since 1978, and is currently New York State certified in low vision rehabilitative optometry. 

Join Larry and Dr. Steven as they discuss:

  • Why low vision cannot be corrected with standard eyeglasses
  • How you can improve the onset of macular degeneration 
  • What contributes to vision loss, and eye disease. 
  • How magnifiers and telescopes can improve low vision
  • And more

Connect With Dr. Steven Schoenbart:

Connect With Larry Heller:

About Our Guest:

Dr. Steve Schoenbart, OD, prescribes spectacle mounted, miniature telescopic glasses to help restore the ability to read, drive, see faces & use the computer again. Low Vision devices For Macular Degeneration, Diabetes, non operative cataracts, Ocular Albinism & other eye diseases causing Vision Loss. 
Time to Have Those Tough Conversations with Your Parents (Ep.117)

Time to Have Those Tough Conversations with Your Parents (Ep.117)

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Calling all members of the sandwich generation! 

As your parents age, you start to ask yourself a number of questions. What will happen when they are no longer able to live independently? When is a good time to step in, and offer help? 

Is it a good idea to get a third party to help pay bills on their behalf?

In this episode of the Life Unlimited podcast, Larry Heller, CFP, discusses the benefits of having an open, and honest discussion with your parents about their future.

Tune in as Larry discusses: 

  • How a third party can help mediate a conversation about bills and payments, and how they can take control of finances to ensure essentials are paid on time
  • The importance of knowing exactly where all of your parents’ assets are
  • How mobility and potential illness issues can affect your parents living situation
  • And more

Connect With Larry Heller: 

 
Navigating A Bear Market As A Soon-To-Be Retiree (Ep.111)

Navigating A Bear Market As A Soon-To-Be Retiree (Ep.111)

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You’ve done it. You’ve invested, saved, and properly allocated your money to live a fulfilling retirement. But now the economy has entered a bear market and you don’t have as much money as you thought.

A bear market can cause you to make knee-jerk reactions that can affect your retirement plan. 

In this episode, Larry Heller, CFP® discusses how to navigate a bear market and shares some strategies to use when going through a bear market in retirement.

Larry discusses: 

  • How to find out your risk tolerance in a bear market
  • How you can review and rebalance your asset allocation during a bear market
  • What you should be doing with your cash right now
  • Ways to remain calm when your portfolio continues to go down
  • And more

Resources: 

Connect With Larry Heller:
Common Errors To Avoid When Passing Money To Your Heirs Upon Death (Ep. 109)

Common Errors To Avoid When Passing Money To Your Heirs Upon Death (Ep. 109)

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Will your net worth be transferred to your heirs the way you intend it to? How do you know?  

 In this episode of Life Unlimited, Larry shares some real life stories of major mistakes he has seen with respect to a will, beneficiary or the titling of an asset. Listen in to hear some advice to make sure your estate planning wishes are kept up to date with your current family dynamic.

Larry discusses: 

  • Steps to take to ensure what you want happens after you pass away
  • How to properly distribute money to a minor child
  • Three areas to review to avoid common mistakes
  • The risks of having an outdated will
  • And more

Resources: 

Connect With Larry Heller:
Preparing for Retirement Through a Non-Financial Lens with Reid Stone (Ep. 104)

Preparing for Retirement Through a Non-Financial Lens with Reid Stone (Ep. 104)

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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
  • And more

Resources: 

Connect With Reid Stone:

Connect With Larry Heller:

About Our Guest:

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.