Saving With Silverman

Last year was a rough year in the market, but it’s hard to attribute it to any one particular trend. It was more a confluence of various factors. On today’s show, we’ll review some of the absolute worst days, weeks and years in market history, what caused them and what we learned.   On today’s show, we’ll share: What happened on Black Tuesday? (2:03) How did the Dot Com crash affect us? (2:41) What happened when the markets reopened on Sept. 17, 2001? (3:30)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com

It’s time for another mailbag episode, and we have some great topics to discuss. This episode could really help if you’re looking to improve your financial situation and prepare for retirement. We will discuss whether to take expensive trips, how to prevent your children from having hurt feelings over your will and when to pay extra on your mortgage. Listen to hear some of the questions our listeners have, and maybe you’ll gain some valuable knowledge from our answers!   On today’s show, we’ll share: Should I take this expensive trip? (2:12) What’s the best way to keep my kids from having hurt feelings over my will? (4:01) Should I pay extra toward my mortgage? (5:32)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com

When you think about the word “generosity,” what comes to mind? Maybe money or time spent helping others. We’ve all known generous people in our lives – and those who didn’t have this trait – but generosity can take many forms.   On today’s show, we’ll share some examples of generosity and how that can work with your overall financial plan.   On today’s show, we’ll share: What does it mean to be generous? (1:36) An example of a naturally generous person. (3:05) Do some people give away too much money? (3:44)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com

Almost everyone likes the idea of a healthy bank account. But can there be too much of a good thing?   We’ll explain some of the common reasons people want cash on hand and why it might be counterproductive to have too much in your checking or savings account.   On today’s show, we’ll share: What are some common needs for cash? (0:54) How much cash should I have? (2:17) Why do some people keep so much cash? (2:52)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com

The idea of a Roth conversion is intriguing to a lot of people. For some, it can be a great strategy to enact, but others might not know what it is. Today we’ll share what a Roth conversion is, why it’s worth considering and some common mistakes we see people make with them.   On today’s show, we’ll share: What is a Roth conversion? (2:17) Why is a conversion helpful for people who make a lot of money? (5:11) What common mistakes do people make with Roth conversions? (6:13)   Want to get in touch with Mark?  Web: https://silverman-associates.com/  Phone: 520.512.8832 Email: mark@silverman-associates.com

Today we’re chatting about the characteristics of financial advisors. Everyone has different personalities, but what should you look for in an advisor? How much should likeability and listening skills play into the person you choose? How much emphasis do you place on things like trust, areas of expertise, and the ability to solve problems? You want to find someone who resonates with you and can help you build a strong financial future. On today’s show, we’ll share: How do you develop trust with a financial advisor? (0:54) How much should likeability and rapport play into the relationship? (2:19) What kind of credentials should you look for when choosing an advisor? (3:49) For more, visit us online: https://silverman-associates.com/ 

Today’s show combines two fun topics – finances and football. Believe it or not, planning for your financial future has some similarities to the sport of football. In retirement planning, some people try to be successful without having a coach at all. Others keep the same coach that they’ve had for years, even though things aren’t working out with him.  We’ll explain why you need to design a portfolio that puts you in victory formation.   On this episode, we’ll share: Why mistakes in the financial red zone are so costly. (2:17) Why the hurry-up offense is a bad idea for your finances. (4:45) Why you need to stop worrying about the victory formation with your money. (6:22)   For more, visit us online: https://silverman-associates.com/ 

We’re opening up the mailbag today to answer your questions. We got a lot of good feedback, including questions about taxes in retirement, using investments to pay for a car and more.   If you have a question, you can submit it on our website. There’s a high likelihood you’ll hear your question answered on air. We’d love to hear from you.   On today’s show, we’ll share: Do you have to pay taxes in retirement? (0:37) Can I take money from investments to pay for a car? (1:45) Is Social Security going bankrupt? (4:01)   For more, visit us online: https://silverman-associates.com/ 

If you have a financial advisor or are thinking about getting one, you might be wondering how we are paid. There are several different ways that financial advisors can be paid, but which way is the best for you?   Other than fees paid to an advisor, what are some of the other costs that you might encounter in the financial world? We’ll explain some of the things you need to know about finances and your financial advisor.   On today’s show, we’ll share: How are financial advisors paid? (2:03) What are the pros and cons to paying advisors? (3:24) Other than fees, what are some other costs? (5:34)   For more, visit us online: https://silverman-associates.com/ 

The doctor is in, and we’re here to share some common financial diseases and how they can affect you. From “Inflation-itis” to “Old Fogey’s Disease,” we can spot the trouble areas in your financial life.   Whether you suffer from “Acute Portfolio Riskopathy” or “Nursing Home-Atosis,” we are here to help.   On today’s show, we’ll share: What the causes of Acute Portfolio Riskopathy are and why you need to understand your goals. (2:07) What the cure for Old Fogey’s Disease is and why you need to plan for the future so you’re not a burden to your family. (3:58)   For more, visit us online: https://silverman-associates.com/ 

What can the game of golf teach us about retirement planning? How does hitting a hole-in-one correlate to your finances? And how is a caddy like a financial planner?   We’ll answer these and other questions on today’s show. If you love golf and getting your money and retirement in order, today’s show is for you.   On today’s show, we’ll share: Why a hole-in-one is not what you want to shoot for in your finances. (1:55) Why having a lot of clubs in your bag is like having different financial investments. (3:19) Why you should listen to your caddy, just like you should listen to a good financial advisor. (4:35)   For more, visit us online: https://silverman-associates.com/ 

If you take a close look at most folks’ financial situations, you’ll find that it’s almost scandalous how badly their financial matters have been handled. Let’s talk about the steps you should take to create a scandal-free retirement.   From consumer debt to leaky budgets, we’ll explain what you can change to have a scandal-free retirement.   On today’s show, we’ll share: Why you need to impeach consumer debt, such as credit cards. (1:48) How to find the leaks in your spending plan and stop them. (2:57) How to obstruct catastrophic market losses, which can be deadly to your finances. (3:54)   For more, visit us online: https://silverman-associates.com/ 

Some people are nervous about the idea of meeting with a financial advisor because they don’t know what to expect.   Will they be sold something they don’t need? Will they be chastised for not handling their money well enough up to that point? We’ll take some of the mystery out of that first visit on this episode.   On today’s show, we’ll share: How to get prepared for your first visit with a financial advisor. (1:37) Do financial advisors ever have to be stern with their clients? (3:09) The questions advisors ask clients that they didn’t expect. (4:20)   For more, visit us online: https://silverman-associates.com/ 

Let’s talk about some of the areas of your financial life where you might be flirting with disaster and don’t even know it. Disaster and retirement are not two words you want to be associated with each other.    Key topics on this episode:  2:41 – Widowed spouse out of the loop 5:40 – Market crash forces work 7:37 – Family legacies and long-term care 9:16 – Social Security   For more, visit us online: https://silverman-associates.com/ 

Cognitive biases are fascinating, especially as it relates to money. Find out what these biases are and how to implement more rational thinking into your financial life.   Key topics on this episode:  0:58 – Self-serving bias 3:05 – Curse of knowledge 4:27 – Dunning-Kruger effect 6:52 – Naïve realism 8:25 – Confirmation bias   For more, visit us online: https://silverman-associates.com/saving-with-silverman-podcast 

We made a list of some financial proverbs that we thought might be able to help you in your financial situation. Find out what you can glean from these wise words.   Key topics on this show:  2:39 – Bird in the hand 4:02 – Rising tide 4:38 – Eggs in one basket 5:43 – One man’s trash   For more financial information, visit us online: https://silverman-associates.com/saving-with-silverman-podcast 

Everyone has a different vision for what retirement will look and knowing how you’ll spend your time will help you build your retirement plan. Today we’ll look at what retirement commonly means to retirees in Arizona and Mark will also share his thoughts on the rise of inflation.   Key topics on this episode:  0:39 – Mark’s thoughts on inflation 2:42 – Want to have nothing but fun 4:23 – Want to do nothing in retirement 6:15 – Want to spend time with family 7:01 – Want to keep working in some capacity 8:26 – Meeting with us   For more financial information, visit us online: https://silverman-associates.com/saving-with-silverman-podcast 

Most people have a junk drawer at home with rubber bands, clothespins, highlighters, a tape measure, and a pair of scissors. But most people have a financial junk drawer, too. We’ll share what’s often in there and how those things might be put to better use.   Key topics on this show:  1:52 – Life insurance policy 3:24 – Will or estate plan 4:34 – Social Security estimate 5:26 – 401k statements 6:46 – US savings bond 7:45 – Vacant lot   Read more and get additional resources here: https://silverman-associates.com/saving-with-silverman-podcast 

Today we’re sharing some details you might be overlooking as you plan for retirement. For example, have you thought about whether you’ll need to support your parents or children? We’ll share more missed details on today’s show.   Today's Key Points: 0:43 – Parents and kids 1:47 – Quitting your job 4:25 – Major purchases 5:31 – Death of spouse   For additional financial resources, visit us online: https://silverman-associates.com/saving-with-silverman-podcast 

Should you retire early If you believe a large inheritance is coming your way? How much tax should you be withholding? Should you buy an investment property with your parents? We’re answering your mailbag questions today.   Today's Key Points: 0:36 – Federal crimes 2:00 – Inheritance 3:53 – Withholdings 5:05 – Property with parents   For additional financial resources, visit us online: https://silverman-associates.com/saving-with-silverman-podcast