The Get Ready For The Future Show

I'm 54 and recently divorced. What should I be doing with my money? On the Get Ready For The Future Show, we're answering YOUR questions! My company switched to a Cash Balance plan. Should I invest less in bonds in accounts I control? Should we roll over large amounts into a Roth for the next 20 years? Does my wife, a full-time mom, also need life insurance? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 2/28/2024

A new survey reveals Americans know shockingly little about Social Security and their retirement income plans. 41% flunked a Social Security quiz, getting less than 55% correct. Only 20% say their plans account for inflation/market volatility. 63% think their retirement income will run out in 20 years or less. We're walking you through the key takeaways from the survey and how to right the ship in this week's Fastest Four Minutes in Finance.

My wife and I are looking to hire a financial advisor. Should we move around our investments first?  How do you know when it's time to switch from Roth contributions to pre-tax? I have $2 million in savings, but how do I know if it's enough to maintain my lifestyle in retirement? We're answering YOUR questions! And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 2/21/2024

Don't believe the recession hype! New data shows consumers are feeling more confident about their finances than they have in years. In this episode of Fastest 4 Minutes in Finance, Financial Advisor Scott Inman breaks down the latest University of Michigan Consumer Sentiment survey.

Should I pay an extra $500 on my student loans, a Roth, or split it? We're answering YOUR questions on the Get Ready for the Future Show! How can I help my father set up a retirement plan as a small business owner? My wife and I own a small business and are feeling pretty comfortable. What should we do next? Can I count my commercial building loan payment toward my retirement savings rate? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]!   Originally aired 2/14/2024 DISCLOSURE This is a hypothetical example and is not representative of any specific situation. Your results will vary. The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing.

In this week's Fastest Four, we break down the January inflation data that rattled stocks this week and caused a swing in the major indexes. See where the biggest inflows and outflows were last month among asset categories like bonds, large-cap, and small-cap funds. Get insights into investor behavior and how to position your portfolio to benefit from potential market leadership changes in 2024.

How should I deal with short-term savings? Should I max out my 401(k) in the first quarter or spread it out over the year? Does the bank own my mom's reverse mortgage after she died? What are the best retirement options for the self-employed? We're answering YOUR questions! And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 2/7/2024

Consumers have absorbed almost 3 years of high inflation, yet demand for luxury goods is still strong. What's driving consumer confidence and spending? We break down the data on sentiment, credit card debt, big-ticket purchases, spending on goods vs services, and what it means for the economy and your investments on this week's Fastest Four. 

I've got an old pension from a previous job. Should I move it to my current 401(k)? We're answering your questions! Should we try and fund our 3-month emergency fund up to 6 months, or max out our IRA contributions? What should our next steps be toward our "forever home?" Do millionaires really only have 3-6 months of expenses in cash? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]!   Originally aired 1/31/2024

Does political preference impact stock performance? History says NO! On this week's Fastest Four, we're looking at the data showing the stock market performs well overall during election years (regardless of who wins), average returns are positive 100% of the time when the incumbent president runs again, and more on why you should stay invested based on your financial goals, not politics.

How do I make my wife feel wealthy when she says I make her feel broke? How can I help my mom gift some stocks to her church? Should I just leave my old 401(k) plans at my old jobs? How do I repair my retirement savings after my divorce? We're answering YOUR questions! And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 1/24/2024 Disclosures: A Roth IRA offers tax deferral on any earnings in the account. Qualified withdrawals of earnings from the account are tax-free. Withdrawals of earnings prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Limitations and restrictions may apply.   Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.

The S&P 500 just hit a new all-time high for the first time in over 2 years! But history shows this could just be the beginning of a longer run. Data shows the index has averaged 14% gains 1 year after breaking long high droughts. We're breaking it all down on this week's episode of The Fastest Four Minutes In Finance. 

The weather outside was frightful! We couldn't make it to the studio this week, so we're here with an encore presentation of our show debunking Dave. Ramsey Solutions has done a lot of good for a lot of people searching for financial independence. And we agree with many of their philosophies! But recently, Dave gave some investment advice that was just plain wrong and you've got some questions about it! And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 1/3/2024

A new retirement account is here! Learn all about Pension-Linked Emergency Savings Accounts (PLESA) in this episode. We explain how the SECURE Act 2.0 created PLESAs in 401(k) and other employer retirement plans in 2024.

I've driven myself to distraction trying to understand my upcoming retirement! Is it okay for me to leave my 401(k) at my previous employer? How should I handle the money I recently inherited from my father? What do I need to know about converting pre-tax money to a Roth option? We're answering YOUR questions! And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 1/10/2024

The "Magnificent 7" stocks like Apple and Tesla soared in 2023, but data shows 75 other lesser-known stocks have strong growth potential in 2024. Learn why the broader market may outperform the big tech names this year. In this episode, we cover the stock market outlook for 2024, earnings growth forecasts, S&P 500 index performance data, and investment opportunities outside the common big tech stocks.

Ramsey Solutions has done a lot of good for a lot of people searching for financial independence. And we agree with many of their philosophies! But recently, Dave gave some investment advice that was just plain wrong and you've got some questions about it! And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 1/3/2024

With the Federal Reserve likely to cut interest rates in 2024, what does history show about how the stock market reacts to rate cuts? This week we take a look at stock market returns after the last 9 Fed rate cut cycles going back to 1970. On average the market is up slightly between the final rate hike and first cut, but returns have been mixed 6-12 months after cuts begin. So what does this mean for you? Find out in this week's episode of the Fastest Four Minutes in Finance!

We're rounding out the year with an encore of our most popular show of 2023. In this episode, you'll hear YOUR questions: How will I know if the market really has gone crazy? I'm a millionaire, so where do I go from here? Should I use my bonus on my employer plan or mortgage? What do you think about "Deferred Compensation Plans?" And if you would like a question answered on the show, give us a call at 501.381.5228. Or send us an email to [email protected]. Originally aired 9/6/2023

Ring in the new year by discovering the top 10 best places to retire in 2023 according to U.S. News and World Report. You may be surprised to learn that Pennsylvania dominates the rankings, with 7 cities making the cut. Find out why historic towns like Lancaster, Reading, Scranton, and more offer affordability, great healthcare, low taxes, and fun leisure activities. We countdown from 10 to 1 on this week's episode of the Fastest Four Minutes in Finance!

Should my HSA dollars be invested in high growth? How can I better understand my risk tolerance? If I'm retiring soon, what questions should I be asking my advisor? Invest more in pre-tax or Roth? We're answering YOUR questions on the Get Ready for the Future Show. And if you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or email your question to [email protected]! Originally aired 12/20/2023

The Dow Jones Industrial Average recently reached a new all-time high after a swift 15% two-month climb. Historical data shows the index tends to see positive returns 71% of the time over the following year after breaking records. With investors optimistic the Fed may cut rates in 2023 and a potential recession dodged, could this Santa Claus rally be just getting started? Tune in to hear analyses of the Dow's milestone, what market indicators may forecast, and whether analysts forecast the bull run continuing through 2024.

If I can buy my employer stock at a discount, should I max out my contribution? Saving 31% as an Army officer and planning to retire in 4 years - should I change anything? Are CDs a better option than brokerage for the next 6-12 months? Accumulated almost $900k and wondering if I'll be okay when my wife and I retire in 2-3 years?   These are YOUR questions! And if you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or email your question to [email protected]!   Originally aired 12/13/2023

The IRS retirement rules around Required Minimum Distributions (RMDs) are an absolute trainwreck. They changed the ages, the exceptions, and even the penalties. This week, we lean on the wisdom of retirement tax consultant Ed Slott so you don't accidentally skip an RMD and get slammed with a 25% penalty. We'll explain the new RMD ages, inherited IRA 10-year payout rules, and key exceptions you need to know. Even some advisors are confused, so whether you're retired already or have an inherited IRA, don't miss this. It could save you thousands in penalties down the road!

Does it change things, financially, if we just had a kid in our 40s? We're answering your questions on the Get Ready for the Future Show! Should my wife and I boost savings or contributions if we both have pensions? Help - contributions limits confuse me! What options do I have to prepare for health expenses? If you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or email your question to mailto:[email protected]! Originally aired 12/6/2023

Stocks rallied almost 9% in November - does that make a Santa Claus rally more or less likely? In this episode of the Fastest Four Minutes in Finance, we analyze the historical data on December and end-of-year stock market performance and break down the numbers and trends evaluating whether stocks could keep rising into 2023.

I'm 35 and still renting. Is that throwing away money, especially with interest rates being so high? My mom is 62 and I'm 32. How should I prepare if I need to take care of her? What's the difference between a money market account and a money market mutual fund? How do I talk with my husband about money when he hates discussions about finances? These are YOUR questions! And if you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or email your question to [email protected]! Originally aired 11/29/2023

Bonds are making a comeback! This week we're focusing on fixed-income investments and why the outlook is improving for bonds in 2023. With the Federal Reserve's rapid rate hikes over the past two years, bonds took a hit. But with rates potentially peaking, the outlook for fixed income is turning positive!

Should we start making additional principal payments on our 30-year mortgage or put that money toward investing? On the Get Ready for the Future Show, we're answering YOUR questions! What's the difference between brokerage and UTMA if I want to pre-pay future child expenses? Is it better to max out my HSA or Roth 401(k) first? Is my friend's pawn shop a good indicator of the economy? And if you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or email your question to [email protected]! Originally aired 11/22/2023

It's the Thanksgiving edition of the Fastest Four Minutes In Finance! We have so much to be thankful for around our office, especially you! This week we're sifting through the noise that says that you shouldn't be in the market right now because of the uncertainty. Don't let headlines dictate your demeanor on the markets as we head into the last few weeks of the year, it could cost you! Learn more in this week's episode. 

Do Target-Date Funds hinder my potential? I'm nervous about the market and indexed annuities seem less risky - what are some safe options for me? Should I lower my employer plan contribution in favor of more Roth dollars? What's the best way to fund my HSA? These are YOUR questions! And if you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or email your question to [email protected]! Originally aired 11/15/2023

Recent economic data suggests recession odds are decreasing. Small caps and tech stocks rallied on hopes of a Fed pivot, but growth potential remains beyond mega-cap stocks. This week we break down the latest inflation, jobs, GDP numbers, and what they mean for the markets going forward. 

How can I lessen the tax burden as the beneficiary of a trust? We're answering YOUR questions! As a military couple, is buying a house and renting it when we move a reasonable option? At age 32, am I contributing too much to my retirement plans? Are there disadvantages to making backdoor Roth contributions? If you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or send your questions to [email protected]! Originally aired 11/8/2023

It's beginning to look a lot like Christmas, even though it's still early November! Retailers are gearing up for what's predicted to be a record-high spending holiday shopping season. But don't let the big numbers fool you - the growth rate is slowing. In this episode, we break down the holiday sales forecasts and what they really mean for the economy. With inflation high and consumers tapped out, experts predict holiday sales will grow at the slowest pace in years. Get the full data analysis and find out what it means for your personal finances heading into the new year.

Do you want to move to a cabin in the mountains when you retire? What should your strategy be? How can I help my family work through financial matters with the passing of my dad? If I'm trying to save more, should I go with something like brokerage or CDs? What questions should I be asking a financial advisor? Should I pull back from investing to attack my debt? We're answering YOUR questions! And if you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or send your question to [email protected]! Talking Cents 116: Inheritance Basics Originally aired 11/1/2023

Don’t let the frightening finance headlines scare you! We're sorting the facts from fear in less than 4 minutes. We examine the uneasy consumer spending trends, core inflation that refuses to die, potential WeWork bankruptcy haunting real estate, and signs suggesting brighter days ahead for stocks. When fear abounds, focusing on key indicators can help investors tell tricks from treats.

Is 33% of my portfolio in my company's stock too much? I'm getting discounted options. We're answering YOUR questions on the Get Ready for the Future Show! My wife and I have a couple of investments, but no Roth dollars - do we do conversions or are there other options? At 39, do I have too much money invested in my HSA? How do I minimize the tax impact of my inherited IRA? If you would like a question answered on the show, call 501.381.5228 and leave a voicemail! Or send your question to [email protected]! Originally aired 10/25/2023

Is the economy headed for a recession or continuing to grow? Predictions are all over the map. In investing, the lesson is not to try and time based on predictions. They'll eventually be right, like a broken clock. But your strategy should be long-term, based on when you need your investments. Don't let the broken recession clocks make you make bad decisions.

Did your net worth drop with the markets and you're scared? How do T-Bills compare to Money Market Funds? How does rental income factor into a retirement plan? What do you recommend for me as a freelancer for an S Corp? We're answering YOUR questions! And if you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or send your question to [email protected]! Originally aired 10/18/2023

Many investors are playing it too safe and missing out on returns. Over the past year, the stock market is up over 20% while money has poured into low-yield investments. This video looks at how negative perceptions of the economy have caused people to miss out. History suggests second year bull markets often continue rising, though with volatility.

When you start investing, going it alone might be okay. But when should you start working with a financial advisor? And how do you know which one is right for you? We're answering YOUR questions on the Get Ready for the Future Show! I'm hiring my first few employees. What are some low-cost benefits I can offer? Can I live off savings when I near retirement to lessen my tax burden? Does my target-date fund need to line up with when I'm retiring? If you would like a question answered on the show, call 501.381.5228 and leave a voicemail! Or send your question to [email protected]! Originally aired 10/11/2023

In this week's Fastest Four Minutes in Finance, we're taking a closer look at the financial impact of the recent conflict between Israel and Hamas. We'll show you the relationship between geopolitical events and the market, and explore how this could potentially impact you and your financial independence.

We see you working hard toward your goals (go you)! Should you start an LLC? We're answering YOUR questions. In this episode: the best way to maximize benefits from side gigs, options for building and leaving your financial legacy, and what type of account should you prioritize if you retire early.   And if you would like a question answered on the show, give us a call at 501.381.5228 or send us an email at [email protected].   7 Steps for Financial Independence: getreadyforthefuture.com/steps   Originally Aired 10/04/2023

It should come as no surprise that the stock market was knocked off course at the end of the 3rd quarter. So what does that mean for investors in the last quarter of 2023? Will the market hold its course or will it gain some much needed momentum? On this episode of The Fastest Four we're breaking down the recent market ups and downs, chatting about sector highlights, and sharing some market insights from LPL Research.  

It's NEVER too late to start saving - you might just need to adjust how! We're answering YOUR questions in this episode: what to do if you're reaching the contribution limit on your Roth IRA, choices to make while investing and saving for a house, how to save for retirement if you get started late in life, and how money market funds work. And if you would like a question answered on the show, give us a call at 501.381.5228. Or send us an email to [email protected]. Originally aired 9/27/2023

Buckle up, we're diving into what a potential government shutdown means for you and your money. Learn about the nitty-gritty of a government shutdown, like which important services stay open and how it might affect your investments. We're also talking about how the stock market usually reacts so you can make informed decisions without breaking a sweat.

So you want to retire somewhere tropical, but the housing market has you questioning whether now is the right time or not to buy. These are YOUR questions we're answering in this episode: Do backdoor Roth conversions count as contributions? What should I do with my money if I'm scared to do anything? Should I diversify if my compensation and employment are tied to the stock market? And if you would like a question answered on the show, give us a call at 501.381.5228. Or send us an email to [email protected]. Originally aired 9/20/2023

There are surprising reasons why an increasing number of Americans are considering delaying retirement or even coming out of retirement. It's not just about the money! Discover the key reasons behind this trend and gain valuable insights into planning for your own retirement. Don't miss this important discussion about financial readiness, emotional preparedness, and the importance of having a plan for your post-career life.

You're switching jobs and worried you may accidentally over-contribute to your 401k this year. How do you keep track? And what happens if you DO contribute too much? We're answering your questions! Is there a good rule of thumb for sinking funds? Can I reduce the tax burden for an inherited IRA? Should I go PPO (Preferred Provider Organization) or HDHP (High Deductible Health Plan) if my employer offers both? And if you would like a question answered on the show, give us a call at 501.381.5228. Or send us an email to [email protected]. Fastest Four: Contribution Limits for HSA Originally aired 9/13/2023

Being "average" may not get you much in life, but in your financial goals, it might just be a winning approach. Discover the reasons behind rising energy and rent prices, as well as their impact on core inflation and why average should be what you're shooting for when it comes to returns in your portfolio.