Tag: Wills
The Critical Role of Estate Planning and Retirement Readiness (Ep. 23)

The Critical Role of Estate Planning and Retirement Readiness (Ep. 23)

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Have you prepared for a comfortable retirement? Is your estate in order?

To retire in comfort, your plan depends on more than just saving—discover the critical steps to protect your wealth and loved ones.

In this episode, your hosts Jerry Goodman and Megan Hubbard from Tennessee Wealth Management are sharing key strategies to safeguard your financial future. Discover how the Envision planning tool can assess your retirement readiness for free and learn why essential legal documents like wills and power of attorney are crucial.

Using real-life stories, they highlight the importance of early planning, debunk myths about revocable living trusts, and explain why probate in Tennessee may not be as daunting as you think. Plus, find out how the “step-up in basis” tax rule can save your heirs from large capital gains taxes.

Key Highlights:

  • Retirement Planning Tools: The Envision planning tool helps clients assess their retirement readiness, with Sally’s story showcasing its value
  • Estate Planning Pitfalls: Learn from Jack’s story about the dangers of not having essential legal documents, such as a will or power of attorney
  • Trusts vs. Wills: Misconceptions about revocable living trusts are cleared up, and the reality of probate in Tennessee is explained
  • Step-Up in Basis: This powerful tax provision can save heirs from massive capital gains taxes, as shown in a case involving Truist Bank stock
  • Organizational Tools: The Housekeeping Profile and a Five-Step Process ensure all your affairs are in order, providing direction and clarity
  • Final PodCLASSes: This episode is part of a two-episode wrap-up that summarizes key takeaways from over 12 hours of content on financial stability
  • And much more!

Don’t leave your financial future to chance—listen now to learn how to protect your assets and provide clarity for yourself and your loved ones.

 

Resources:

Connect with Jerry Goodman and Megan Hubbard: 

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Unveiling Common Misconceptions and Tips for your Finances and Investments (Ep. 7)

Unveiling Common Misconceptions and Tips for your Finances and Investments (Ep. 7)

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One of the most important aspects of financial planning is to optimize your long-term performance. 

This means not only choosing the right investments but also minimizing the fees and costs that can deteriorate your returns.

Are there some strategies for this?

In this episode, Jerry Goodman and Megan Hubbard explore strategies for improving long-term financial performance. They emphasize the importance of reducing advisory fees, avoiding unnecessary investment expenses, and being selective with investments. Introducing the Diversified Stock Income Plan (DSIP) list, a collection of dividend-raising individual stocks, they highlight its remarkable outperformance compared to the S&P 500 index.

In this PodCLASS, Jerry and Megan explore:

  • The misconceptions surrounding the need for a Revocable Living Trust
  • The need for a second opinion on investment management
  • The importance of paying attention to fees and costs, and how they can significantly impact savings over time
  • The importance of being more selective with investments to achieve better rates of return
  • The historical performance of the DSIP list, which has outperformed the S&P 500
  • Their goal of helping listeners make informed decisions
  • And more!

 

Resources:

Connect with Jerry Goodman and Megan Hubbard: 

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