Category Archives: Finance

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S4: Episode 2 – Money Magic With Laurence Kotlikoff – Part 2

Finance, Financial, Financial Planning, Insurance, Retirement, Taxes, , , , , , , , ,

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“The biggest risk we face in old age, or maybe the second biggest apart from healthcare costs, is longevity risk – out running our money.” – Laurence Kotlikoff

In this episode, Stephen Stricklin continues his conversation with Laurence Kotlikoff, a Professor of Economics at Boston University and best-selling author. They cover several more details about Laurence’s new book, “Money Magic: An Economist’s Secrets to More Money, Less Risk, and a Better Life”.

A large part of the discussion was around the 5 main risks to one’s living standard that Larry talks about in greater detail in his book. Those 5 risks are earnings risk, mortality risk, longevity risk, inflation risk, and investment risk.

They discuss:

  • Chapter five of his book titled, Get House Rich.
  • Moving out of his house in Boston to a “new” house in Rhode Island.
  • Living Standard and mitigating several different risks.
  • The 5 main risks mentioned in Money Magic.
  • Laurence shares the importance of annuities and why they got one for his mom when she was 88 years old.
  • Stephen and Paul end the episode talking about the importance of retirement plans that are specific to the individual.

Connect With Laurence Kotlikoff:

Connect With Stephen Stricklin:

About Our Guest:
Laurence Kotlikoff is a Professor of Economics at Boston University, Fellow of the American Academy of Arts and Sciences, Fellow of the Econometric Society, Research Associate of the National Bureau of Economic Research, and President of Economic Security Planning, Inc, and a New York Times best-selling author. His columns, articles, and books cover personal finance, generational policy, climate policy, inequality, tax reform, Social Security, banking, robotization, growth, and much more.

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S4: Episode 1 – Money Magic With Laurence Kotlikoff – Part 1

Finance, Financial, Financial Planning, Insurance, Retirement, Taxes, , , , , , ,

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Welcome to season 4 of the Simplify Your Retirement Podcast! Season 4 will be packed with exciting guests, and popular FAQ’s Stephen gets from clients.  

In part one of this two-part interview, Stephen Stricklin is joined by Laurence Kotlikoff, a Professor of Economics at Boston University and a best-selling author. They discuss Kotlikoff’s brand-new book, “Money Magic: An Economist’s Secrets to More Money, Less Risk, and a Better Life”.

A magician isn’t smarter than anyone else, he just happens to learn something that he can convey in a way that surprises people. Laurence’s goal is just that – to share what he’s learned in an unconventional and entertaining way that will transform your financial thinking and show you how to improve your financial future.

He shares snippets from his book such as: Why he decided to become an Economist rather than a doctor, why students should consider not borrowing for college, finding a job you love but others hate, among other things. 

Laurence discusses:

  • Why he decided to become an Economist instead of a doctor
  • Discusses his latest book, “Money Magic: An Economist’s Secrets to More Money, Less Risk, and a Better Life”
  • Why he has a chapter in his book on not borrowing for college. 
  • Thinking about those who don’t graduate or even go to college. What are they going to do?
  • Having a smooth living standard over your lifetime.
  • And more

Resources:

https://simplifyyourretirement.com
Season 1
Season 2
Season 3
Larry’s original Episode: S2 Ep3

Connect With Laurence Kotlikoff:

https://kotlikoff.net
LinkedIn: Laurence Kotlikoff
http://maxifi.com

Connect With Stephen Stricklin:

stephen@wisewealth.com
WiseWealth.com
Simplify Your Retirement
LinkedIn: Stephen Stricklin
LinkedIn: Wise Wealth LLC

About Our Guest:
Laurence Kotlikoff is a Professor of Economics at Boston University, Fellow of the American Academy of Arts and Sciences, Fellow of the Econometric Society, Research Associate of the National Bureau of Economic Research, and President of Economic Security Planning, Inc, and a New York Times best-selling author. His columns, articles, and books cover personal finance, generational policy, climate policy, inequality, tax reform, Social Security, banking, robotization, growth, and much more.

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S3: Episode 12 – How Wise Wealth Was Giving and Serving This Year With Bekah Stever

Finance, Financial, Financial Planning, Insurance, Retirement, Taxes, , , ,

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In this season of Simplify Your Retirement, we focused on the Wise Wealth mission of guiding investors on the path to financial significance, where they are free to give and serve and to enjoy a life like never before.

In this episode, Stephen Stricklin is joined by Bekah Stever, AAMS®, chief growth officer & director of compliance at Wise Wealth. Bekah helps us tie up the season as we look back at how Wise Wealth has given and served this past year. Bekah also shares why giving and serving is special to her.

Bekah discusses:

  • Why she chose to work at Wise Wealth
  • How Wise Wealth was involved in giving this year
  • How Wise Wealth served widows and widowers
  • The client appreciation event, and why giving and serving is special to her
  • And more

Connect With Bekah Stever:

Connect With Stephen Stricklin:

About Our Guest:

Bekah focuses on the integration process for new, Wise Wealth clients, ensuring the transition is as convenient and seamless as possible. She also supports the President with the firm’s compliance. This allows her to contribute to the client’s confidence in Wise Wealth for their financial peace of mind.

Bekah is driven by her faith and her love for other people. She enjoys helping people understand finance in a simple, easy-to-comprehend way, and she is grateful to work for a company with greater passion and purpose beyond just financial success. She is happy to have found meaningful work at a company – and an industry – she believes in.

Bekah completed a Bachelor of Science at Trinity Baptist College. She holds her Series 6, 63, 65, and 7 licenses and is an Accredited Asset Management Specialist. (AAMS ®)

Outside of work, Bekah loves watching Chiefs games, working with the youth at her church, hot yoga, playing sports, and spending time with her husband, Scott.

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S3: Episode 11 – We Should Always Be Enjoying Life With Jonathan Dold, MBA

Finance, Financial, Financial Planning, Insurance, Retirement, Taxes, , , , , , ,

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Being free to enjoy life in retirement is one of the missions of Wise Wealth. But you should be enjoying life all the time.

In this episode, Stephen Stricklin is joined by Jonathan Dold, a financial advisor at Wise Wealth. Jon is not retired, but he has been living the Wise Wealth mission of enjoying life for quite some time. He shares his background in finance, how he’s been enjoying life, and his experience with First Tee, a youth development golf organization that he is involved with.

Jon discusses:

  • Why he became a financial advisor
  • How he chooses to enjoy life
  • His experience with First Tee
  • What giving and serving means for organizations and those involved
  • And more

Connect With Jonathan Dold

Connect With Stephen Stricklin:

About Our Guest:

Jon’s ability to communicate openly and honestly with his clients makes him stand out from other advisors. He takes great pride as a financial advisor, empowering his clients with confidence as they look to the future.

By truly listening and understanding his clients’ unique situations, Jon gains a solid grasp of their goals and emotional behaviors when it comes to financial matters. From there, he is able to formulate a solid plan to get them where they want to go. As a fiduciary, he is committed to putting clients’ interests first, and strives to go above and beyond their expectations at every opportunity.

 

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S3: Episode 10 – Enjoying Retirement Requires Planning

Finance, Financial, Financial Planning, Insurance, Retirement, Taxes, Uncategorized, , , , , ,

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What does retirement look like to you? How do you plan to enjoy your retirement? 

In this episode, Stephen Stricklin is joined by clients Barry and Linda, who share how they are enjoying retirement, and how planning has made their retirement successful. He is also joined by a client, Jeff, who discusses the plans he and his wife Janie have for their own retirement.

They discuss:

  • Barry and Linda’s experience living in an RV and travelling around the United States in retirement
  • Jeff’s experience living on a lake with his family and what their future retirement plans hold
  • Barry and Linda’s advice for retirement planning and what they wish they had done sooner
  • Jeff shares what he’s been doing to ensure his daughter’s future, and why having a plan is so important
  • And more

Connect With Stephen Stricklin:

 

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S3: Episode 9 – Give, Serve, And Above All, Enjoy Life With Mark Comfort

Finance, Financial, Financial Planning, Insurance, Retirement, Taxes, Uncategorized, , , ,

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Everyone wants to go on vacation. But work often limits the amount of time you can spend away. 

In this episode, Stephen Stricklin is joined by Mark Comfort, owner of Cruise Holiday and Comfort Tours & Travel. Mark dives into the third part of the Wise Wealth mission statement, the ability to be free to enjoy life, and the role of vacations within your retirement goals.

Mark discusses:

  • The importance of saving disposable income for retirement
  • Mental and physical benefits of vacation
  • Why retirees go on more vacations
  • Mark shares his favorite vacation spots
  • And more

Connect With Mark Comfort:

Connect With Stephen Stricklin:

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S3: Episode 8 – How Creating A Legacy of Giving Back to Others Can Be Passed On

Finance, Financial, Financial Planning, Insurance, Retirement, Taxes, Uncategorized, , , , , , ,

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Creating a legacy of serving others can inspire your children and those around you to serve and give back to their community.

In this episode, Stephen Stricklin is joined by his client Bruce. Bruce is a retiree, and formerly worked at Hallmark. In his retirement he has taken up the Wise Wealth mission of serving. Bruce shares the details of his involvement with a community organization and how his father inspired him to give back to others.

Bruce discusses:

  • His background working for Hallmark and how he got into serving
  • How his father influenced his desire to serve
  • Why he encourages others to seek a retirement planner early
  • The freedom his financial plan provides and how that enables him serve
  • And more

Resources: 

Connect With Stephen Stricklin:

 

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S3: Episode 7 – How Wise Women Embodies The Mission of Wise Wealth With Samantha Compton

Finance, Financial, Financial Planning, Insurance, Retirement, Taxes, Uncategorized, , , , , , , , ,

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Women are a notoriously underserved demographic in the financial industry, even though they are often the ones in the family who make the financial decisions. 

With the Wise Wealth mission to serve in mind, Samantha Compton created Wise Women, LLC.

In this episode, Stephen Stricklin is joined by Samantha Compton of Wise Wealth and founder of Wise Women, LLC. Samantha shares the history of Wise Women and the mission for the organization. She also speaks about what serving means to her, and how she has made a personal commitment to serve.

Samantha discusses:

  • How the pandemic impacted her willingness to serve and why she’s finding the purpose and desire to serve again
  • The types of education events available at the Wise Women meetings
  • Wise Women’s involvement in giving and serving 
  • And more

Resources: 

Connect With Samantha Compton:

Connect With Stephen Stricklin:

About Our Guest:

Like the company’s motto, “First Wisdom, then Wealth,” Samantha seeks to educate and empower her clients as she works with them to develop a long-term financial plan.

Samantha works with couples and single women and especially enjoys helping women feel more confident in understanding her financial plan.

Samantha’s credentials include being securities licensed, as well as maintaining both Missouri and Kansas insurance licenses. Additionally, she is a Women’s Investment Specialist and Founder of Wise Women, LLC – an organization that seeks to educate and guide women investors on the path to financial significance where they are free to give, serve, and live like never before.

Outside of work, Samantha enjoys traveling with her husband, Craig, and spending time with their three children, Gabe, Nathan and Lizzy. Samantha has always been a fan of music, and enjoys singing, playing guitar and Karaoke nights with her family!

 

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S3: Episode 6 – What It Means To Be Free To Serve Others

Finance, Financial, Financial Planning, Insurance, Retirement, Taxes, Uncategorized, , , , , ,

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This season Stephen talked about being free to give and spoke to several clients about what it means to give in their eyes. This episode Stephen transitions to talking about being free to serve.

In this episode, Stephen Stricklin is joined by his client Brad. Brad shares a little about himself and how he gives back to others, and is free to serve. He is chairman of the board at Children International in Kansas City, a humanitarian organization. 

Brad discusses:

  • When he knew it was the right time to retire
  • How he serves both in his community and internationally
  • How you can work through foundations to multiply what you’re doing and how you’re serving
  • A detailed dive into his work and the work of Children International
  • And more

Resources: 

Season 3, Episode 1
Season 3, Episode 2
Children International

Connect With Stephen Stricklin:

stephen@wisewealth.com 
WiseWealth.com
Simplify Your Retirement 
LinkedIn: Stephen Stricklin
LinkedIn: Wise Wealth LLC

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S3: Episode 5 – What It Means to Give Through A Donor Advised Fund

Finance, Financial, Financial Planning, Insurance, Retirement, Taxes, Uncategorized, , , , , , ,

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If you’re going to give, there’s a tax-efficient way to go about it, and you may as well take advantage of the smartest way to do so. 

Enter: donor advised funds.

In this episode, Stephen Stricklin is joined by clients Larry and John, who each run a donor advised fund. They discuss how these funds work, and the primary advantages to giving through a donor advised fund. Larry and John share a few details about their own donor advised funds, why they were started and why they like to give.

Stephen, Larry, and John discuss:

  • What a donor advised fund is
  • Three primary advantages to using a donor advised fund
  • Their thoughts about what it means to be free to give
  • And more

Connect With Stephen Stricklin: