Tag: Retirement Planning

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

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

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.

From Planning to Investments: A Deep Dive Into Our Services (Ep. 154)

From Planning to Investments: A Deep Dive Into Our Services (Ep. 154)

Beyond managing your investments and portfolio, have you ever wondered what else financial advisors do?

Understanding the full scope of financial advisory services is essential to maximizing the benefits of your financial plan.

In this enlightening episode of Life Unlimited, host Larry Heller, CFP®, CDFA® explores the multifaceted role of financial advisors. He addresses common misconceptions and emphasizes that effective financial advising extends well beyond investment decisions.This episode provides a deep dive into how we create personalized financial plans for clients, addressing all aspects of their financial lives to ensure future preparedness. Tune in to learn how we can help you achieve financial security and peace of mind through our comprehensive financial planning and detailed strategies.

Key Points Covered:

  • Larry’s dedication to educating clients and alleviating financial anxieties
  • Clarifying the comprehensive role of financial advisors beyond just investments
  • The critical importance of financial planning before making investment decisions
  • Detailed financial planning processes: goals, time horizons, and financial needs
  • Components of financial planning: cash flow analysis, risk management, tax planning, investment management, estate planning, and retirement planning
  • Differentiating traditional investments (stocks, bonds, mutual funds) from alternative investments (private equity, private credit)
  • The importance of regular financial monitoring to adapt to life changes
  • Addressing client concerns: inheritances, safe retirement strategies, and account consolidation
  • Highlighting the transparency of fee structures and the importance of fiduciary duty
  • And More!

 

Resources:

Services Triangle: https://acrobat.adobe.com/id/urn:aaid:sc:VA6C2:cfe5a4d5-2384-4a62-b76a-2921735e4cbf

Our Approach: https://docs.google.com/document/d/1Qp3B-6EQsTptfRZT5792CIVvvo9yrXKrwBVLFZvJBj8/edit?usp=sharing

►  Is Your Portfolio Missing Out? With Alona Gornick [Ep. 143]: https://hellerwealthmanagement.com/is-your-portfolio-missing-out-the-rise-of-private-credit-with-alona-gornick-ep-143/

Connect with Larry Heller: 

00:00 Introduction to Life Unlimited Podcast

00:20 Reflecting on 150 Episodes

00:33 Understanding Financial Advisory Services

01:59 The Importance of Financial Planning

03:18 Diving into Investment Strategies

13:13 Exploring Alternative Investments

16:23 Who We Work With and Our Fee Structure

20:35 The Fiduciary Standard Explained

22:06 Conclusion and Contact Information

Unlocking Tax Strategies to Optimize Your Retirement (Ep. 152)

Unlocking Tax Strategies to Optimize Your Retirement (Ep. 152)

Are you effectively using tax strategies to boost your retirement investments?

Explore this insightful episode of the Life Unlimited Podcast featuring Larry Heller, CFP®, CDFA®. Larry delves into strategic tax planning and investment strategies designed to optimize retirement savings both during your working years and in retirement. Drawing from his experience as a former CPA, he underscores the significance of not only what you earn but also what you retain after taxes. Tune in as Larry highlights key strategies like capital gains management, tax loss harvesting, and the advantages of ETFs over mutual funds for tax efficiency. The episode emphasizes the importance of proactive tax planning for a secure and financially efficient retirement.

Larry Discusses:

  • The importance of understanding the advantages of ETFs for minimizing capital gains taxes
  • How and when to implement this strategy to reduce taxes by offsetting gains with losses
  • Insights on deciding which retirement account fits best depending on your current and future tax brackets
  • Maximizing tax benefits by converting during lower-income years, benefiting both the account holder and heirs
  • The necessity for a coordinated approach between financial advisors and tax professionals to optimize retirement strategies
  • And more!

 

Resources: 

Connect with Larry Heller: 

Navigating the Medicare Maze with Craig Smith (Ep. 151)

Navigating the Medicare Maze with Craig Smith (Ep. 151)

There is no secret to Medicare, you just need the proper guidance.

In this insightful episode of Life Unlimited, host Larry Heller, CFP®, CDFA®, welcomes Craig Smith, Medicare professional. With a focus on senior healthcare since 2013, Craig has become a go-to advisor for baby boomers managing healthcare and insurance financials, especially Medicare. The episode delves deeply into the layers of Medicare, shedding light on its various sections, eligibility nuances, and pivotal decisions for those approaching their golden years.

Key Points Covered:

  • Exploring Medicare Parts A and B, along with drug plan details
  • Clarity on Medicare eligibility starting at age 65 and special condition considerations
  • Insights on how employer healthcare plans interact with Medicare choices at 65, including spousal coverage implications
  • Highlighting Medicare’s automatic enrollment, penalties, and drug plan selection
  • Differentiating between Medicare Advantage and Medicare Supplement Plans
  • Guidance on Medicare’s annual enrollment and state-specific plan variations
  • Plus, more tips for making well-informed Medicare decisions!

 

Connect with Craig Smith:

Connect with Larry Heller: 

 

About Craig Smith:

Craig Smith has been an instrumental figure in the senior healthcare market since becoming an insurance agent in 2013. His expertise in Medicare and commitment to offering unbiased, affordable healthcare plans have significantly impacted retirees and those nearing retirement age. With a deep understanding of the intricacies of Medicare, Craig provides tailored advice to his clients, helping them make informed decisions about their healthcare and financial security.

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

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

If you’re thinking about retiring, but the recession has you worried, have no fear, with proper planning, you can make decisions that are right for you.

What types of things should you be reviewing with your financial advisor when the economy looks like it is headed into a recession?

In this episode, Larry Heller, CFP® discusses how you can make an educated decision when deciding whether your retirement plan is fit for the costs of a recession.

Larry discusses: 

  • The importance of knowing your retirement expenses prior to retiring
  • How to know if your retirement plan is compatible with a recession
  • The analysis you can do on your retirement plan to strengthen it against inflation
  • What you can do if you are forced to retire
  • And more

Resources: 

Connect With Larry Heller CFP®:

 

Transitioning Into Retirement and Gaining a New Purpose with George Jerjian (Ep.110)

Transitioning Into Retirement and Gaining a New Purpose with George Jerjian (Ep.110)

Entering retirement can feel like crossing the finish line of a marathon, however, that doesn’t mean the race is entirely over.

A large struggle people face when they enter retirement is establishing their new identity outside of the workplace and staying engaged with the things that give them purpose.

In this episode, mindset mentor George Jerjian, a formal financial advisor and a prolific author who recently released “Dare to Discover Your Purpose: Retire, Refire, Rewire,” discusses the reality of new retirees and offers solutions to help overcome the common struggles people face after the honeymoon phase of retirement is over.

George discusses: 

  • The moment that altered the course of his life forever
  • The concept of identity and how you can avoid struggling with it during retirement
  • Why wealthy people never fully “retire”
  • What the DARE program stands for and how it can help you in retirement
  • And more

Resources:

Connect With George Jerjian:

Connect With Larry Heller:

About Our Guest:

As a formal financial advisor, George is on a mission to help retirees create a plan for their later years which is about much more than money for him. It is all about making a difference and helping those heading for retirement, creating a life of purpose, passion, and potential that reflects how we live today.

George has authored 11 books including his most recent release Dare to Discover Your Purpose. George works with clients across the world, from the UK, the US, Canada, as well as Australia and New Zealand.



How Getting Divorced After 50 Impacts Retirement Planning (Ep.105)

How Getting Divorced After 50 Impacts Retirement Planning (Ep.105)

Getting divorced later in life can be more complicated than you may anticipate. Have you considered how your retirement plan will be impacted if you and your spouse separate?

In this episode, Larry Heller, CFP®, explains how divorce later on in life can impact your retirement planning, and what steps you can take when going through the divorce process. He also shares how you can gain more control over what happens to your investments and assets during a divorce.

Larry discusses: 

  • Why it is important to determine who is the non-financial spouse
  • Why your housing costs can have a significant impact on your retirement plan
  • Why it’s helpful to know what your living expenses and income is prior to divorce
  • The importance of knowing the rules of Social Security if you’re divorced
  • And more

Resources: 

Connect With Larry Heller:

The 100th Episode: Introducing Life Unlimited (Ep. 100)

The 100th Episode: Introducing Life Unlimited (Ep. 100)

“We hit 100 and we’re not stopping!” – Larry Heller, CFP®

Larry has reached his 100th episode of the Retire Right podcast, a huge milestone in podcasting. During these episodes, Larry has provided his audience with all kinds of valuable information on various topics surrounding retirement. 

Now, we’re taking a moment to reflect on the podcast so far — and to break down the exciting news of the rebrand of the Retire Right podcast to the newly titled Life Unlimited. Find out what you can expect for the future of the podcast, as Larry looks back on how far he’s come!

Larry also discusses: 

  • What inspired the change from “Retire Right” to the “Life Unlimited” podcast
  • His favorite highlights and guests from previous episodes, including a professional organizer and a full-size model train enthusiast
  • How you can suggest topics and content ideas for the Life Unlimited podcast
  • Where you can expect to find the podcast — including video recordings
  • And so much more!

Resources: 

Connect With Larry Heller:

Five Important Steps to Take Before Retiring (Ep. 99)

Five Important Steps to Take Before Retiring (Ep. 99)

What are you going to do every day in retirement? As you think a little bit more about retirement, there are five important planning steps to keep in mind. 

In this episode, Larry Heller discusses each of the five steps to start planning for a well lived retirement. This episode will help you start visualizing your dream retirement and what it looks like for you!

Larry discusses: 

  • Visualizing your future life
  • Tax and legacy planning
  • How much money is enough money
  • The impacts of long-term illness
  • And much more!

Resources: 

Connect With Larry Heller:

Five Common Mistakes to Avoid When Planning for Retirement (Ep. 84)

Five Common Mistakes to Avoid When Planning for Retirement (Ep. 84)

Many retirees underestimate the risks associated with their investments and financial plans, which can result in costly mistakes that could have easily been avoided if they had adequately planned for retirement.

To help you avoid making common retirement planning mistakes, in this episode, Larry Heller, CFP® reveals five key planning mistakes and shares tips for avoiding them so that you can Retire Right!

You will learn:  

  • How effective planning prepares you for retirement success 
  • Why you shouldn’t underestimate your investing risks
  • The importance of updating your documents and plans
  • And more! 

 Listen in to discover the five retirement mistakes you should avoid while preparing for retirement!

Resources:  Heller Wealth Management: (631) 293-2806 | Email Larry | Webinars