Financial Freedom Podcast

People approaching retirement in 3 to 5 years have to start thinking differently about their money and what they are going to do once the paychecks stop. They have to have a plan, a playbook to follow on what that income is going to look like.

That's why in this episode of the podcast I talk Ron Deutsch at Magnus Financial Group about how to write that playbook and have financial freedom in retirement.

In this episode you will learn:

The loss of a spouse is devastating in many ways. The person you've been spending your life with is now gone. There are also the many financial issues you have to deal with, and one of them can be devastating to those over 65 and retirees.

It's called the "Widow's Trap" and most people aren't prepared for it. That's why in this episode of the podcast I talk to repeat guest and Certified Financial Transitionist Michael Karwic to tell us what it is and how to avoid falling into it.

In this episode you will learn:<...

Many people trying to maintain financial independence and freedom find themselves cash poor, but asset rich. They need more money in the bank, but have loads of equity in their home. Problem is, they don't want to sell the home to liquidate the equity; they want to continue living it.

As my guest in this episode would say: "Reverse mortgage to the rescue!" To bust the misconceptions about them, and tell us how they can help with retirement and estate planning, I talk with Paul Dilks, of WSFS Bank, to get the answers.

In this...

A lot of financial advice assumes you're building wealth to pass on to your kids. But what if that's not your path? About 25% of Americans are childless by choice or circumstance, and the financial system largely wasn't built for them.

That's why in this episode of the podcast I talk with Certified Financial Planner Bri Conn about what the financial landscape actually looks like for childless couples, and why it requires a different approach.

In this episode you will learn:

One place inflation has really hit hard in the last two years or so is food. Going to the grocery store has become very expensive, and feeding the family has become quite a struggle.

That's why in this episode of the podcast I talked with Andy Ellwood, who has brought technology to bear to help people find the best deals on food through his AI platform.

In this episode you will learn:

A lot of people who could benefit from working with a financial advisor never do — and often it's because of myths and misconceptions about who financial advisors are, what they do, and who they're really for.

That's why in this episode of the podcast, I spoke with Farrel Liger, a man who's spent his career on both sides of that relationship, and can dispel those myths, so you can get the help you need.

In this episode you will learn:

People turning 65 have a lot of important decisions to make. Do they apply for Social Security, or do they wait until they're older? When do they apply for Medicare, what are the differences between A, B, C, and D, and which ones are right for them?

To answer these questions, I talked with Retirement Management Advisor Marcia Mantell to provide some guidance to those having to make those decisions.

In this episode you will learn:

For many people, saving for retirement and living in retirement means hoping that the money lasts. Their goal is not to outlive their money. But for others, building a legacy to pass on is what's important.

That's why in this episode of the podcast I talk with Certified Financial Planner Chad Taylor on how to create a family wealth legacy to pass on to the next generation.

In this episode you will learn:

One key to retirement savings and living in retirement that is not addressed by most people is tax planning. You want not only to minimize taxes in your retirement income, but in the savings you put aside during your working life.

That's why in this episode of the podcast I talked with Alan Porter, a Certified Financial Fiduciary and Certified Tax & Business Advisor, to give you the answers you need to succeed.

In this episode you will learn:

Most people know that there is some risk to investing and retirement planning. In fact, "Risk Tolerance" for the investor is a key factor in deciding where to put your money. But most people don't know that there are non-financial risks as well.

That's why in this episode of the podcast I talk with Chris Maduri about what those risks are and how you can avoid them to ensure a comfortable retirement.

In this episode you will learn:

Diversity in your investments and savings for retirement (and your efforts to achieve long term financial freedom) is very important. It's key to minimizing risk and maximizing return. Lately, precious metals, as an investment, has become a topic of discussion.

To find out whether you should do it, and if so, how to go about it, I talked with Kristen Nagle about how she helps folks to get started in this market.

In this episode you will learn:

Each generation has a different approach to money, saving, retirement, and what it means to be financially free and secure. So strategies for starting on that journey can vary quite a bit, and Gen Z is no exception.

That's why on this episode of the podcast I talked with Jack Campbell, an investor and venture capitalist who helps Gen Zers to discuss how they can map out and navigate their path to financial freedom.

In this episode you will learn:

Achieving financial freedom is something people aspire to, but not everyone thinks it is possible. Even those that do think it will take them way too long. For some it means getting out from under debt first; for others it means being able to invest enough each year to make it happen in a reasonable amount of time.

But sometimes it can be done quicker. That's why on this episode of the podcast I talk with Ryan Lee who, by following a less traditional path, was able to achieve financial freedom in less than 10 years.

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With the engagement of Taylor Swift and Travis Kelce, there's been a lot of talk on social media about prenuptual agreements. But what many people don't know is that these agreements (as well as their lesser-known cousins, post-nuptual agreements) are not just for the very rich. Others can benefit from them as well.

That's why in this episode of the podcast I talked with New Jersey certified family law attorney AllynMarie Smedley about how these two agreements work, when they are appropriate, and how they can help couples both before and after they get married.

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Most people are focused on the savings part of their retirement planning. They contribute to their 401k, put something into a Roth IRA, and have an emergency fund. But what they often don't think about is the transition from saving to spending that will happen when they actually retire.

That's why on this episode of the podcast I talk with Laura Rehbein of Impavid Wealth Advisors on how to go about creating a new paycheck when the old one goes away.

In this episode you will learn:

Having your first child is a wondrous event for a married couple as they start a family. There's lots of celebration surrounding it. But the cost of raising that child after its born is something that involves lots of advanced planning to avoid serious stress to your finances (and financial freedom) going forward. 

So how much does it cost to raise a child these days? To answer that question I talked with Certified Financial Planner Lori Atwood to identify those costs and what people can do to plan for them.

In this episode you will l...

We've all heard the saying: "The rich get richer and the poor get poorer." But why do the rich get richer? Is it just the mindset that "it takes money to make money" or do they know something else that we don't?

Lots of financial planners talk about mutual funds, annuities, IRAs and 401(k)s, but do the rich do the same or is there more? To answer that question, I talked with Ben Mohr about how everyone can invest like the ultra-wealthy.

In this episode you will learn:

Everyone these days knows that a college education doesn't come cheap. It's a major investment for families and, if not handled properly, can lead to financial hardship after graduation. But can you get a good education without paying full price?

To answer that question and to discover ways that parents and students can find the perfect college fit academically, socially, and financially, I talked with college consultant Lee Norwood to tell us all about it.

In this episode you will learn:

As a bankruptcy attorney, I know that getting that discharge and fresh start in your financial life can be liberating. No longer having the stress of carrying debt is great, but the next question is: where do you go from there?

To answer that question, I talk to fellow bankruptcy attorney Barry Levine about the steps you can take to rebuild your financial life.

In this episode you will learn:

Many people experience financial difficulties due to deep seated emotional feelings about money. These feelings often drive bad money decisions that keep them from achieving financial freedom. 

To identify these emotional money beliefs and help people to get past them I talked with Certified Financial Planner Shannon Ryan to discuss solutions to this problem.

In this episode you will learn:

- The money beliefs that could be holding you back from financial freedom
- How to change them
- How to heal emotional money wounds
- What "money shame" is a...

Even if you are on track with your savings and have a clear idea of what you want to do in retirement, there is one component that most people miss: their health. If you want to have a long retirement, your health is key.

That's why in this episode of the podcast I talked with Dr. Aleksandra Gajer about how you can optimize your most important asset: your body.

In this episode you will learn:

People struggling with debt deal with stress every day. Worrying about how they are going to deal with it can have a significant impact on their mental health, their lives, and their relationships.

That's why in this episode of the podcast I talk with Dr. Erika Rasure, a financial therapist with a doctorate in personal financial planning on how to deal with this stress in a positive way.

In this episode you will learn:

Achieving long term financial freedom involves learning new things. You need to know the basics of investing, saving, and good stewardship of your money. But the concepts and terminology can be difficult to grasp at times.

That's why on this episode of the podcast I talk with Jesse Hurst of Impel Wealth Management who uses pop culture insights to help people learn what they need to know and retire like a rock star.

In this episode you will learn:

Just about every day there are stories in the news about how President Trump's economic policies, including tariffs, will affect the economy. People are worried about higher inflation and a possible recession.

To address this issue I talked with Dr. Laquore Meadows about how you can plan for the future and achieve financial freedom despite what the political landscape may be.

In this episode you will learn:

Everyone wants to be able to retire comfortably and to achieve financial freedom, but a lot of people think that building wealth is an impossible task. They feel stuck in their 9-to-5. But as I said in Episode 99, you can break free of this and be successful.

To take a deeper dive into this subject, and to discuss a formula for achieving this goal, I talk in this episode with wealth strategist and Marine Corps veteran Edgar Zavala, on how he did it himself and teaches others to do the same.

In this episode you...

In light of the national student loan crisis, parents and students continue to struggle with college choice and financial aid to avoid an unaffordable student debt load upon graduation. I have dedicated several episodes to guests who help people with that.

One balancing act parents go through is educating their children while still saving and investing for a comfortable retirement. That's why in this episode of the podcast I talk with Certified Financial Planner Paul Compeau about how to do just that.

In this episode you will learn:

Serving in the military can teach you many things: discipline, the importance of service, focus, and the determination to carry out goals. But who would have thought that it would also teach you the skills to attain financial freedom?

To find out more about how this can happen, I talked in this episode of the podcast to Joshua Brooks about what he learned in his military career as an army chaplain about how to achieve your personal finance goals.

In this episode you will learn:

When people think about retirement, they mostly look at whether they can afford it. They plan out long term savings and hope that when they get to their golden years, that money will be enough. But how much is enough? Well, that somewhat depends on what you want to do in retirement.

In Episode 125 I talked about planning for what to do in retirement, but to figure out how to use that to determine "how much is enough," I talked with financial advisor Jeffery Panik on solving that puzzle.

In this episode you will learn:<...

Most people have a checking account with a traditional bank, while a majority of those also have savings accounts. But what about credit unions? Should some people use those rather than traditional banks? What are the benefits?

To answer those questions, in this episode of the podcast I talk with Grant Gallagher of Affinity Federal Credit Union about the benefits of credit unions and why you should consider putting your money there.

In this episode you will learn:

- What credit unions offer that you can't find at other banks
- Some...

Having an estate plan is very important. It ensures not only that your legacy is protected, but that you've planned for disruptions in your health and well being while you're alive. It's part of making sure that you are prepared for life's challenges (and the ultimate end of your life).

But how you draft and prepare that plan can make a difference in avoiding problems when those documents are needed, especially your will. To tell us about how to avoid probate nightmares I talked with Certified Financial Planner Cameron Zabko on what you should do.

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According to research done by the authors of the book *The Millionaire Next Door,* 70% of American millionaires are first generation. This means that in most instances wealth is not being effectively passed down to the next generation, as it is not being preserved. That generation doesn't know how to handle that much money (how many lottery winners are broke a year or two later?)

So to talk about how to deal with inherited wealth, in this episode of the podcast I talk with Master Life Coach Chase Collins about how people who achieve significant financial independence can...

There are only so many hours in a day, and sometimes, even with a second job, it can be hard to make enough money to achieve financial freedom for yourself and your family.  One way to get past this problem is to disconnect time from money and start generating passive income.

That's why in this episode of the podcast I talk with former practicing lawyer Tanisha Souza about what she calls an "Income Snowball" that can get you that extra income you need.

In this episode you will learn:

- What an Income S...

No matter how hard they try, a majority of Americans are living paycheck to paycheck, and even more don't feel secure with money. With no money left over after the bills are paid, it makes it nearly impossible to save for the future and reach long term financial independence.

That's why in this episode of the podcast I talk with financial expert Bill Westrom on how folks can break the paycheck to paycheck cycle, save for the future, and gain financial freedom.

In this episode you will learn:

- The leading causes for...

The sooner kids learn about financial literacy the better. They have a greater chance of maintaining financial freedom and independence in their adult lives. But this goes beyond budgeting, spending, and knowing how credit works; it includes saving for short and long term goals.

So to find out more about what parents can do to educate their children on saving I talked with personal finance expert and podcaster Timothy Smith, who hosts "The Financial Dad" with his two daughters. He has some great ideas on how to start your kids out right with money. 

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Tax time can be very stressful for folks, especially if they owe money. For those struggling with debt and trying to pay the bills, it is even worse. But it may not always have to be.

Tax planning throughout the year is a good idea if you want to minimize your taxes (or maximize your refund) when you ultimately file your return. That's why in this episode of the podcast I talk with financial advisor Frank Buchholz about strategies you might be able to use to be in better shape when you file your next tax return.<...

President Trump's efforts to downsize the federal government through the Department of Government Efficiency has a lot of federal workers nervous. Many of them have built a career with the government and spent years in public service. The thought of transitioning to the private sector, should they receive a pink slip, can be very stressful.

That's why in this episode of the podcast I bring back Certified Career Coach Bonnie Negron to talk about the best and most effective ways to find the right job in the private sector, as quickly as possible, to stay on track...

One of the first steps on the path to financial freedom is getting your spending under control and creating a budget that has you living within your means. But determining **why** you overspend is an important part of the process if you want to stick to that budget.

That's why in this episode of the podcast I talk with certified financial coach Scott Yamamura on the psychology behind overspending and how you can use it to identify your motivations and keep your spending under control.

In this episode you will learn:

- The...

The ultimate goal of retirement savings is to have a source of income once you leave the workforce for good. One of the scariest things about retirement is that leap of faith that you will still have the money to pay the bills once there's no longer a paycheck.

One way to address this is to plan for streams of income in advance, like annuities, which I discussed in Episode 218. But it's good to have options, which is why in this episode of the podcast I spoke with Tom Wall about how life insurance can create another...

One of many financial tools in the retirement savings toolkit is the annuity. Most people have heard about them, and that they provide a stream of income, but beyond that, not much is known.

That's why in this episode of the podcast I bring back repeat guest Michael Karwic to talk about what annuities are, how many types they have, and how they can fit well into your retirement investment strategies. 

In this episode you will learn:

- What an annuity is
- How many kinds there are
- When they a...

Young people starting out, and especially young families, need to have a good handle on their finances in order to reach and maintain financial freedom. They need to spend below their means and and save for short term and long term goals.

To talk about the importance of doing this, and his new book that discusses **how** to do this, I talked to financial planner and previous guest Joe Okaly, to get the solutions you need to succeed.

In this episode you will learn:

- What a Financial Pinwheel Is
- How...