Episode 23 – What are ETFs and Why Should I Care



The financial industry is buzzing with the few developments in the world of exchange-traded funds (ETFs).  Learn about ETFs and why they may be an important part of your investment portfolio.

In this episode, Rey Descalso talks about what ETFs are and how they compare to mutual funds.  You’ll learn a few of the reasons why they are so popular including:

  • Tax efficiencies
  • Lower internal fees
  • A move towards indexing versus active stock-picking.
  • And so much more

Tune in now to find out how ETFs may make sense in your portfolio.

Resources:    Privada Wealth Management | Email


Episode 22 – A Powerful Tool for Newly Widowed Women



Do you know a widowed woman who is trying to navigate her finances? Managing finances, paired with grieving, is a profoundly difficult undertaking. This situation becomes even harder when the woman has been uninvolved with her family’s finances until now. 

In this episode, Rey Descalso talks about the Transition Journal he created to help a growing section of his client-base — widows in transition. This journal takes the newly widowed through the process of what they need to know about their finances, the continual events they need to remember, but mainly, it helps widowed women realize what is truly important to them.

In this episode, you’ll learn:

  • Examples of checklists and timelines found in the Transition Journal
  • What the first question is and why Rey included it in the journal
  • A story about a widowed client who had a powerful experience with the Transition Journal
  • Why it’s important for new widows to connect with their financial planner
  • About the importance of putting pen to paper 
  • How to get your copy of the Transition Journal
  • And so much more

Tune in now to find out how this journal could help you or the newly widowed women in your life. 

Resources:    Privada Wealth Management | Email


Episode 21 – The Pitfalls of Windfalls



Can you imagine there being a downside to suddenly coming into a lot of money?

In this episode, Rey Descalso talks about the many potential downsides — or pitfalls — to a windfall, whether it’s from an inheritance, new client, or lottery win. No doubt, your life will change. But as you’ll soon find out, how your life changes is completely up to you.

In this episode, you’ll learn:

  • That there can be disadvantages to gaining wealth quickly
  • Why it’s important to take time to absorb what has just happened and how it can change your life
  • Who actually needs to know about your new fortune
  • Why it’s crucial to surround yourself with the right people

Tune in now to find out why it’s not the size of the windfall that matters, it’s how you handle it!

Resources:    Privada Wealth Management

 


Episode 20 – The Four Habits of Highly Effective Retirees



Are your habits helping you shape your ideal retirement?

In this episode, Rey Descalso recommends four habits for new and soon-to-be retirees to master. This energetic conversation is dedicated to helping you create the retirement life you’ve been dreaming of. 

In this episode, you’ll learn:

  • What accountability means in this context
  • The benefits of having a fiduciary that you’re accountable to 
  • The importance of developing automation in your financial life
  • How lifelong learning contributes to the joy you can get out of retirement
  • What it means to have a legacy mindset and why you should plan for it

Tune in now to learn the four habits of highly effective retirees!

Resources:  Privada Wealth Management

 


Episode 19 – 401(k) Pro-Tips and Pitfalls



How do 401(k)s work? Are Roth features available with 401(k)s? 

If you have these types of questions, tune in because Rey Descalso is bringing you all the answers. Long an enthusiast for helping people make sense of their planning, Rey shares tips on how to maximize your 401(k) and avoid three major pitfalls.

In this episode, you’ll learn:

  • How a 401(k) works and how you may benefit from having one
  • Why participating in your 401(k) can help you get out of the rat race
  • The difference between a simple IRA and an SEP IRA
  • Why it’s worthwhile to find out if your 401(k) has a Roth feature
  • What a target date fund is and why you should avoid it
  • About the pitfall of trying to beat the market 
  • And more!

Tune in now to learn about 401(k) pro-tips and pitfalls!

Resources:  Privada Wealth Management


Episode 18 – Don’t Scam Yourself in Retirement: Part 2



Are you tricking yourself out of a happy retirement? How can you tell? It’s time to uncover the ultimate retirement scams, so you can dodge them! 

In today’s episode, Rey Descalso continues on from part one to discuss more of the flawed thinking patterns that derail people’s retirement plans. 

In this episode, you will learn:

  • How the Gambler’s Fallacy works
  • The meaning of the endowment effect
  • Why the need to belong can lead to getting caught up in the bandwagon effect
  • The importance of acknowledging your biases and getting a second opinion

Tune in for part two and learn how to avoid these retirement scams! 

Resources:  Privada Wealth Management | The ABCs of Power Spending| Episode 17 – Don’t Scam Yourself in Retirement: Part 1


Episode 17 – Don’t Scam Yourself in Retirement: Part 1



You could be super savvy by avoiding all of the phone and emails scams in the world. But are you still falling for the ultimate retirement scam?

In today’s episode, Rey Descalso discusses the flawed thinking patterns that derail people’s retirement plans. Not stopping there, Rey explains how you can know if you’ve fallen into these thinking patterns, which he calls “cognitive biases” and “logical fallacies.”

In this episode, you’ll learn:

  • Which cognitive biases we tend to have while planning for retirement 
  • Examples of these cognitive biases in action
  • The importance of getting a second opinion when it comes to your retirement plan
  • Different ways the sunk cost fallacy can hurt you 
  • How Rey addresses difficult conversations with his clients to point out these biases

Tune into Part 1 and learn how to avoid the ultimate retirement scam!

Resources:  Privada Wealth Management

 


Episode 16 – Start Power Spending



What comes to mind when you hear the words “power spending”? Do you imagine shopping sprees and splurging on the latest gear? If so, you might be in for a surprise!

In today’s episode, Rey Descalso breaks down exactly what power spending means and the different ways you can benefit from this practice. 

In this episode, you will learn:

  • The definition of power spending 
  • The ABCs of power spending
  • Why having mindfulness about where you spend your money is important
  • What makes budgeting a mindfulness activity
  • The role of gratitude in power spending
  • Tips for overcoming impulse buying habits
  • How a community of passionate people can facilitate power spending
  • And more!

Tune in now to learn what power spending is truly all about!

Resources:  Privada Wealth Management | The ABCs of Power Spending

 


Episode 15 – The SECURE Act of 2019: The Good, the Bad, and the Ugly



The SECURE Act of 2019, a bill passed on May 23, 2019, by the United States House of Representatives, proposes significant changes that will surely affect current and future retirees.

In this episode, Rey Descalso examines The SECURE Act’s proposed changes and gives you his verdict for each one — will the change be good, bad, or ugly for retirees? 

In this episode, you’ll learn:

  • What a lifetime income choice is
  • How the increase in the required minimum distribution (RMD) age affects the amount of time an individual has to convert to a Roth IRA
  • The advantages to having the age limitations on IRA contributions removed
  • How new parents may benefit from a new distribution provision 
  • And more!

Tune in now to get a clear understanding of The SECURE Act’s proposed changes!

Resources:  Privada Wealth Management

 


Episode 14 – Finding Balance In Retirement



Many people look forward to their retirement, only to be disappointed with the actual experience. But as you’ll learn today, finding balance in retirement can boost your feelings of satisfaction.

In this episode, Rey Descalso draws on his experiences with serving retirees to explain what causes dissatisfaction and how you can prepare for an enjoyable retirement.

In this episode, you’ll learn:

  • What balance in retirement means
  • What prevents people from enjoying retirement
  • The four ingredients needed to create a balanced retirement
  • The impact of the four Cs on an individual’s overall well-being in retirement

Tune in now and learn how you can enhance your life during your retirement years!

Resources:  Privada Wealth Management