Retirees face serious financial temptations that can jeopardize their future, but there are smart ways to avoid them. In this episode, we’ll reveal the most dangerous temptations the average retiree faces and share strategies to help you avoid them, or correct your current course, to keep retirement on track.

Here’s some of what we cover in this episode:

0:00 – Intro

1:46 – Carrying too much debt

5:26 – The challenges with changing the spending mindset

10:13 – Deferring taxes

14:36 – Starting Social Security at 62

Contact Desmond:

Visit https://www.clcfinancial.com/ or call 910-323-5700

Imagine you could read your financial advisor’s mind before you even walked through the door for the first time. What would they want you to know? In this episode, we bring you the game-changing insights financial pros wish every saver and investor understood.

Here’s some of what we cover in this episode:

• Why most people don’t know the real risk in their portfolio because they’re focused on upside potential.
• What’s the motivation behind the information you’re reading and hearing about finances?
• Well-known national companies aren’t automatically a better option to help you plan.
• Financial planning goes well beyond picking investments.
• You don’t need to be uber wealthy to need a retirement plan.

Contact Desmond:

Visit https://www.clcfinancial.com/ or call 910-323-5700.

Once you reach retirement, how do you know whether you’re doing everything you can to succeed? There are specific questions you can ask and we will address some of those key topics in this episode.

We explore things like annuities, tax efficiency, Social Security, inflation protection, and estate planning to make sure you know you’re in the best position for retirement.

Here’s some of what we cover in this episode:

• How do you know if you should buy an annuity for retirement income?
• How do you know how to balance saving for retirement and other financial goals?
• How do you know if your retirement plan is tax-efficient?
• How do you know how to protect your retirement savings from inflation?
• How do you know if you need a trust or an estate plan?

Contact Desmond:

Visit https://www.clcfinancial.com/ or call 910-323-5700

Retirement planning is filled with ‘how do you know’ questions. How do you know if you’re saving enough? How do you know if you’ll have enough income in retirement? How do you know if you have enough to retire? We work to answer these with clients on a daily basis, and today we’re going to discuss how we work through these key retirement questions to help people find the right answer.

Here’s some of what we cover in this episode:

• How do you know how much income you’ll need when you retire?
• How do you know how much money you should have in your savings account?
• How do you know how much risk you should be taking with your investments?
• How do you know which retirement accounts (IRA, 401(k), etc.) are best for your situation?
• How do you know when you're financially ready to retire?

Contact Desmond:

Visit https://www.clcfinancial.com/ or call 910-323-5700.

We're back to tackle your top questions in two comprehensive episodes. Part two addresses essential topics like investment strategies as you approach retirement, managing your 401K when changing jobs, and the ins and outs of catch-up contributions.

Gain insights into the complexities of vesting schedules and the potential risks and benefits of including company stock in your 401K. This episode is a must-listen for anyone looking to optimize their 401K and secure their financial future.

Here are the questions we’ll cover in this episode:

• How should I adjust my 401k investments as I get closer to retirement?
• What happens to my 401k if I change jobs?
• Can I make catch-up contributions to my 401k? If so, how much and when?
• How does vesting work with a 401k, and what should I understand about my plan’s schedule?
• What are the risks and benefits of including company stock in my 401k?

Contact Desmond:

Visit https://www.clcfinancial.com/ or call 910-323-5700

We get a lot of questions about 401ks, and we know they can be tricky to navigate. It’s such a unique account because it’s attached to the employer with different custodians from place to place. But we work with several companies to help manage their 401ks and consider this a specialty of ours at CLC Financial. That's why we're tackling your top questions in two comprehensive episodes.

Here are the questions we’ll cover in this episode:

• My company plan offers a program where I can get advice on my 401k for a low fee. Good idea?
• Should I contribute as much as I can to my 401k or only as much as the company will match?
• Should I use target date funds in my 401k?
• Is taking a 401k loan always a bad idea?
• When should I take money out of my 401k and roll it over to an IRA?
• What are the tax implications of contributing to a 401k, and how does it affect my take-home pay?

Contact Desmond:

Visit https://www.clcfinancial.com/ or call 910-323-5700

In today’s unpredictable financial landscape, it’s easy to fall into the trap of believing common lies about money and retirement. In our latest episode of Riverbank Riches, Desmond will debunk these myths and provide valuable insights to help you navigate your financial journey more effectively.

Here’s some of what we cover in this episode:

• What options do you have for safe money?
• Why investing in the stock market isn’t only for someone who understands everything about it.
• Why it’s never too late to start saving for retirement.
• The importance of starting your savings as early as possible, even if you feel like you still have plenty of time.
• Do you need to have a certain amount of money to use a financial advisor?

Contact Desmond:

Visit https://www.clcfinancial.com/ or call 910-323-5700.

Dave Ramsey has built a big following for his financial advice and his direct approach to advising people on his media platforms. Like everything in the financial world, there’s some advice that applies well and some that doesn’t. In this episode, we’re going to give you two examples of information that we think is valuable and another that should be challenged.

Here’s some of what we cover in this episode:

• The importance of financial literacy.
• What you need to know about the S&P 500 and how it’s used for benchmarking.
• Why paying cash for everything isn’t always the best approach. Debt can be beneficial.
• If you’re able to manage your money properly, you’ll have greater options for your financial decisions.

Contact Desmond:

Visit https://www.clcfinancial.com/ or call 910-323-5700