Episode 27 – Sophia the Wise



Today’s podcast is a simple fable about volatility. Our characters are two twins and a younger sister. When the two twins are offered two choices on how to invest their inheritance, they choose to go a different direction. Some key takeaways to think about:

  • How much of our investing strategy is based upon our personality and risk
    tolerance?
  • Is it better go for the sure thing or take more risk in hopes of greater reward?
  • What role does diversification play when picking a strategy?

We hope you enjoy this little fable and see how it applies to your situation and retirement plan.

Resources:    Privada Wealth Management | Email

 

 


Episode 26 – New Year: New Lessons



Out with the old and in with the new, as they say. So, what can we learn from 2019 to bring into the New Year?

In this podcast, we look at market performance and new retirement legislation. You’ll learn:

  • Why a fantastic year in 2019 could lead to over optimism in 2020.
  • How famous investors like Warren Buffet performed in 2019.
  • How new retirement legislation was passed and what impacts it could have in 2020.

History doesn’t always repeat itself, but it often rhymes. If that’s the case, listen now to learn how to make 2020 even better for your retirement plan.

Resources:    Privada Wealth Management | Email


Episode 25 – What is a Roth Ransom



What the government gives it also takes away.

With your traditional IRA, you get a tax deduction now, but what gets taken from you? That’s right, ordinary income tax when you go to withdraw from your traditional IRA in retirement.

Given that, in today’s episode, Rey Descalso discusses the Roth IRA and you will learn:

  • An easy way to explain how Traditional and Roth IRAs are taxed
  • Whether now is a good time to pay taxes if you don’t have to
  • A way to diversify your tax situation in retirement
  • How you can ransom some of your money out of the clutches of your Traditional IRA.

With the current tax code set to sunset in 2026, now is the time to understand and strategize your IRA plan.

Tune in now to learn how to take advantage of these changes.

Resources:    Privada Wealth Management | Email


Episode 24 – Fade the News



The constant barrage of the 24-hour news cycle can really overload the long-term investor.

In this episode, Rey Descalso discusses with Jared Coffin some guidelines on how to handle the information tsunami. You will learn:

  • Who the real “product” is of the news.
  • How the news makes its money.
  • How breaking news is almost always worthless.
  • How time passing actually improves our analysis of past events.

If fear and greed are your enemy than your media choices and how you react to the news could greatly impact your financial planning success.

Tune in now to learn how to become a savvy listener!

Article mentioned in this Podcast:  What Past Market Declines Can Teach Us 

Resources:    Privada Wealth Management | Email


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