In this episode of "Your Investment Partners," hosts Paul and Garrett examine the concept of a 351 Exchange and how it applies to taxable accounts with highly concentrated positions. They delve into strategies for achieving diversification while deferring taxes, exploring how this specialized section of the tax code allows investors to reallocate portfolios without realizing immediate tax liabilities. The conversation highlights the process, benefits, and limitations of using 351 ETF exchanges to manage large, concentrated positions effectively. Tune in to learn how this approach might help you reduce portfolio risk and maintain tax efficiency.Key Points From This EpisodeIntroduction to the concept of 351 Exchanges.Comparison with 1031 Exchanges used in real estate.Focus on taxable accounts with concentrated positions.Explanation of diversification benefits and tax deferral.Specific rules for eligibility, including limits on individual positions.How 351 ETF exchanges enable portfolio rebalancing without immediate taxes.Advantages of ETFs over mutual funds for tax efficiency.Step-by-step process for executing a 351 Exchange.Benefits of liquidity and flexibility post-ETF exchange.Considerations for choosing partners and professionals for implementation.Want to learn more? Contact us hereUseful LinksGarrett on LinkedInPaul on LinkedInAscend Investment Partners

In this episode of "Your Investment Partners," hosts Paul and Garrett explore the complexities of paying off low-interest debt, focusing on considerations like cash flow, liquidity, inflation, and tax implications. They address when it might make sense to hold onto low-interest debt while earning higher returns elsewhere and the peace of mind that comes with eliminating debt. The conversation highlights balancing financial optimization with life quality, especially as retirement nears. Whether it’s maintaining liquidity or weighing the impact on future goals, Paul and Garrett offer practical strategies and insights to help you make informed decisions about managing low-interest debt.Key Points From This EpisodeThe challenge of managing low-interest debt in today's financial environment.Balancing financial optimization versus peace of mind in debt management.The importance of maintaining liquidity when deciding whether to pay off debt.Using inflation to your advantage by holding onto low-interest debt as wages increase.Strategies for spreading out tax burdens when selling investments to pay off debt.Factors to consider: interest rates, cash flow, and tax implications when paying off debt.The value of opening a separate account to save for debt payoff while maintaining liquidity.How to align debt payoff strategies with future goals like education or retirement.The flexibility and importance of maximizing financial optionality in debt decisions.Want to learn more? Contact us hereUseful LinksGarrett on LinkedInPaul on LinkedInAscend Investment Partners

In this episode, Paul and Garrett discuss the differences between public and private investments, shedding light on the unique challenges and benefits of each. They explore the key factors that distinguish these types of investments, such as liquidity, time horizon, and the complexities of tax reporting. The hosts also explain how these elements play into overall financial strategy and long-term planning. From considering when you'll need access to funds, to navigating the additional paperwork and tax implications of private investments, this episode offers practical insights for investors looking to diversify their portfolios.Key Points From This EpisodeIntroduction to public and private investments and their defining features.Liquidity as a key difference between public and private investments.Time horizon considerations for private investments versus public investments.Challenges with tax reporting in private investments, including the use of K-1 forms.Strategies for balancing public and private investments within a portfolio.The importance of maintaining liquidity for potential emergencies or financial obligations.The role of private investments in long-term wealth building.The benefits and challenges of including real estate in a private investment portfolio.Understanding capital calls and the importance of having cash reserves for private investments.The impact of market conditions and personal life events on investment strategy.Want to learn more? Contact us hereUseful LinksGarrett on LinkedInPaul on LinkedInAscend Investment Partners

In this episode of "Your Investment Partners," hosts Garrett and Paul address a challenging yet crucial topic: what to do if you lose your job. They explore practical steps to manage health insurance, income, and budgeting during this difficult time. The discussion covers essential actions like securing medical coverage through COBRA or the health insurance exchange, finding immediate employment, and prioritizing debt management. They also explore opportunities that may arise, such as Roth conversions or starting your own business. Tune in for valuable insights to help you handle this uncertain period with resilience and proactive planning.Key Points From This EpisodeExploring the common experience of involuntary job loss and its impacts.Managing health insurance options, including COBRA and marketplace coverage.Immediate steps to secure income and avoid financial freefall.Budget adjustments and prioritizing expenses during a job transition.Strategies for managing debt, focusing on high-interest obligations.Cautions around borrowing against retirement accounts during job loss.Identifying potential planning opportunities like Roth conversions in low-income years.Considering starting a small business as an alternative to traditional employment.Evaluating deferred compensation, stock options, and retirement plan rollovers.Maintaining productivity and positive mental health during unemployment.Want to learn more? Contact us hereUseful LinksGarrett on LinkedIn Paul on LinkedIn Ascend Investment Partners

In this episode of "Your Investment Partners," hosts Garrett and Paul explore the critical role of emergency funds in financial planning. They discuss the key factors to consider when establishing and maintaining an emergency fund, including the appropriate size, where to keep it, and common pitfalls to avoid. The conversation highlights the importance of an emergency fund as the foundation of financial security, providing flexibility during uncertain times and preventing the need to take on debt or sell assets under pressure. Tune in to learn practical tips on building and managing your emergency fund to safeguard your financial future.Key Points From This EpisodeIntroduction to the importance of an emergency fund in financial planning.Factors to consider when determining the size of your emergency fund.Common mistakes to avoid, such as relying on home equity lines of credit.The relationship between emergency funds and overall financial flexibility.Strategies for using an emergency fund effectively during emergencies.How emergency funds support better financial habits and risk management.Appropriate uses of emergency funds and differentiating between emergencies and inconveniences.Best practices for storing emergency funds for safety and accessibility.The role of emergency funds in business and personal finance.Exploring alternative methods to supplement emergency funds, such as HSAs and Roth IRAs.Want to learn more? Contact us hereUseful LinksGarrett on LinkedIn Paul on LinkedIn Ascend Investment Partners

In this episode of "Your Investment Partners," hosts Garrett and Paul discuss the critical period known as the retirement danger zone, highlighting key considerations for a successful transition into retirement. They address the importance of preparing for unexpected expenses and market fluctuations, ensuring emotional readiness, and the benefits of easing into retirement. The conversation covers strategies for managing healthcare costs, the significance of knowing your financial numbers, and the need for a robust and flexible financial plan that accounts for inflation and longevity. Tune in to learn how to navigate this pivotal time and secure a comfortable retirement.Key Points From This EpisodeUnderstanding the retirement danger zone: three years before and after retirement.Importance of preparing for unexpected expenses in early retirement.Strategies for handling market fluctuations and maintaining financial stability.Emotional readiness for retirement and easing into the transition.The role of part-time work and hobbies in a successful retirement.Planning for healthcare costs and navigating pre-Medicare options.Significance of longevity planning and extending retirement savings.The impact of inflation on retirement planning and cost of living adjustments.Diversifying investments to maintain purchasing power over time.Importance of flexibility and robustness in financial planning.Want to learn more? Contact us hereUseful LinksGarrett on LinkedIn Paul on LinkedIn Ascend Investment Partners

In this episode of "Your Investment Partners," hosts Garrett and Paul address the complexities of family dynamics in financial planning. They explore the challenges of involving family members in financial decisions, whether it be parents, children, or other relatives. They discuss how to handle these situations, offering insights on maintaining open communication, setting expectations, and planning for different scenarios. The conversation covers the importance of updating trusts, clarifying roles, and managing expectations to avoid future conflicts. They also highlight the role of professionals in estate planning, especially for those without immediate family. Tune in for valuable advice on navigating these sensitive conversations to ensure a smooth financial journey for your family.Key Points From This EpisodeExploring the impact of family dynamics on financial planning.Challenges in involving parents or children in financial matters.Importance of regularly updating trusts and estate plans.Managing expectations to prevent family conflicts over inheritance.Role of professionals in estate planning for individuals without immediate family.Importance of clarifying roles for financial and medical decisions.Discussing the benefits of early financial support for children.Navigating complex family relationships and maintaining open communication.Encouraging intergenerational financial planning and collaboration.Ensuring that important financial documents are accessible. Want to learn more? Contact us hereUseful LinksGarrett on LinkedIn Paul on LinkedIn Ascend Investment Partners

In this episode of "Your Investment Partners," hosts Garrett and Paul explore the concept of tax loss harvesting, detailing what it is, how it works, and the types of accounts it applies to. They discuss the benefits of tax loss harvesting, especially in non-qualified accounts, and provide insights into how it can reduce taxable income by offsetting gains with losses. The conversation includes strategies for managing non-qualified accounts, the flexibility these accounts offer, and the importance of tax diversification for a robust financial plan. They also emphasize the practical steps and timing considerations crucial for effective tax loss harvesting. Tune in to learn how to maximize your tax advantages and maintain a balanced portfolio.Key Points From This EpisodeIntroduction to tax loss harvesting and its benefitsExplanation of non-qualified accounts and their tax treatmentsImportance of having diverse account types for flexibility in retirementHow to use losses to offset gains and reduce taxable incomeStrategies for maintaining investment positions while harvesting tax lossesTiming considerations, especially around mutual fund distributionsImportance of tax diversification in financial planningPractical steps for managing non-qualified accounts to optimize tax outcomes Want to learn more? Contact us hereUseful LinksGarrett on LinkedIn Paul on LinkedIn Ascend Investment Partners

In this episode, Paul and Garrett dive into the intricate topic of taxes, specifically focusing on the upcoming expiration of the Tax Cuts and Jobs Act at the end of 2025. They discuss the potential changes, planning opportunities, and strategies to prepare for this major shift. Key points include the importance of regular tax planning, the impact on retirement accounts, Roth conversions, estate taxes, and considerations for business owners. Listen in for valuable insights on how to handle your financial planning in light of these upcoming tax law changes.Key Points From This Episode:Expiration of the Tax Cuts and Jobs Act in 2025 and its implications.Importance of regular tax planning in response to life and law changes.Potential benefits of Roth conversions before tax rates rise.Strategic planning for required minimum distributions (RMDs).Impact on inherited IRAs and accelerating distributions.Business owners' considerations for bonus depreciation and Qualified Business Income (QBI) deductions.Estate tax changes and the importance of planning for estates over $6 million.Strategies for charitable giving and state tax deductions. Want to learn more? Contact us hereUseful LinksGarrett on LinkedIn Paul on LinkedIn Ascend Investment Partners

In this episode, hosts Paul and Garrett explore the fundamentals of investing, offering guidance on managing cash flow, understanding tax considerations, and making informed investment choices. They stress the importance of saving consistently, diversifying investments, and balancing short-term needs with long-term goals. The discussion includes practical tips for increasing savings, mitigating risks, and navigating complex market conditions. Importantly, they underscore the significance of adaptability and continuous planning in financial success, providing reassurance and confidence in your investment journey.Key Points From This EpisodeThe importance of saving and cash flowTax considerations in investingDiversification and investment strategiesTime horizon and flexibility in investments Want to learn more? Contact us hereUseful LinksGarrett on LinkedIn Paul on LinkedIn Ascend Investment Partners

In this episode, hosts Paul and Garrett provide practical insights into financial planning for business owners. They underline the practicality of separating personal finances from business finances and delve into the real-world challenges and strategies of investing outside one's business. The conversation covers various practical considerations, including tax and legal implications, the significance of seeking professional advice, and the practicality of building a diversified investment portfolio.Key Points From This EpisodePersonal vs. business financesThe importance of tax planningChallenges and strategies in business growthSeparating personal and business financesDiversifying investments outside your businessLegal and tax considerations Want to learn more? Contact us hereUseful LinksGarrett on LinkedIn Paul on LinkedIn Ascend Investment Partners

In this episode, hosts Paul and Garrett explore the prudent management of lump sums, such as inheritances, bonuses, or significant investment returns. They discuss the emotional and financial ramifications of sudden wealth and offer strategic advice on handling such funds responsibly. Emphasizing the importance of patience, the hosts suggest parking newfound wealth in a high-yield savings account to buy time for careful planning. This conversation is essential for anyone facing the complex decisions that accompany unexpected financial gains.Key Points From This EpisodeManaging lump sums from various sources, including inheritances, bonuses, or investment returns.Importance of a cautious approach when dealing with unexpected large sums of money.Utilizing a high-yield savings account to safely park lump sums.Emotional considerations and challenges that accompany managing sudden wealth.The dangers of quick spending after receiving a lump sum.The role of professional financial advice in decisions about lump sums.Benefits of delaying major purchases and investments to ensure they align with long-term financial goals. Want to learn more? Contact us hereUseful LinksGarrett on LinkedInPaul on LinkedInAscend Investment Partners

Join hosts Paul and Garrett as they explore the important topic of healthcare expenses in retirement. They discuss the financial challenges and decisions surrounding healthcare as we age, outlining the options available for managing these costs. From government programs like Medicare and Medicaid to the details of long-term care insurance and self-funding, Paul and Garrett provide a clear overview of the pros, cons, and strategies to effectively handle healthcare expenses in retirement. This episode offers essential guidance for anyone planning for their future or advising a loved one.Key Points From This EpisodeThree main strategies for managing healthcare costs in retirement.The basics of Medicare and Medicaid and the role of supplements.Insurance options for long-term healthcare needs.Pros and cons of self-funding healthcare expenses in retirement.The financial implications of different healthcare strategies.The importance of planning for potential long-term care needs. Want to learn more? Contact us hereUseful LinksGarrett on LinkedIn Paul on LinkedIn Ascend Investment Partners

In this episode, Paul and Garrett dismantle common myths surrounding investment risk, providing listeners with a clear understanding and practical strategies for managing it. They cover everything from defining risk in relation to volatility and capital loss to the often-overlooked impact of inflation on purchasing power. The conversation also explores how risk tolerance shifts with age and life circumstances, underlining the importance of a well-structured investment portfolio to mitigate unforeseen challenges.Key Points From This EpisodeOutlining risk and its relation to investment volatility.Clarifying the concept of capital loss and how to prevent it.Unpacking the silent threat of inflation to long-term financial health.Strategies for adjusting investment portfolios to align with changing life stages.Importance of diversification and understanding individual risk tolerance.The role of emergency funds in managing financial unpredictability.Structuring investments to ensure liquidity and stability in retirement. Want to learn more? Contact us hereUseful LinksGarrett on LinkedIn Paul on LinkedIn Ascend Investment Partners

In this episode, Paul and Garrett outline a comprehensive approach to achieving financial success through a three-part equation: money habits, financial planning, and strategic implementation. They provide actionable insights into building effective money habits, creating adaptable financial plans, and selecting appropriate strategies for investments, insurance, taxes, and estate planning. The hosts share personal anecdotes and practical advice to help listeners construct a solid foundation for their financial future.Key Points From This EpisodeIntroduction to the financial success equation: habits, plan, and strategies.The foundational role of money habits in securing financial health.Strategies for developing a flexible and effective financial plan.Aligning financial strategies with individual goals and life changes.The significance of insurance and investment in financial planning.Understanding tax strategies and estate planning within your financial blueprint.The importance of flexibility and adaptability in financial planning and investment.Closing thoughts: integrating habits, plans, and strategies for financial success.Want to learn more? Contact us hereUseful LinksGarrett on LinkedInPaul on LinkedInAscend Investment Partners

Join Paul and Garrett in a detailed exploration of annuities, where they address common questions, concerns, and the complexities involved. This episode is dedicated to unraveling the intricacies of annuities, aiming to guide listeners through the decision-making process, understanding costs, benefits, and the strategic role annuities can play in financial planning.Key Points From This EpisodeThe role of annuities in aligning with financial aspirationsUnderstanding sales motivesBalancing annuity benefits against constraintsThe necessity of ongoing annuity assessmentsPrioritizing transparency in annuity expensesReinforcing the value of guidance in complex financial landscapesWant to learn more? Contact us hereUseful LinksGarrett on LinkedInPaul on LinkedInAscend Investment Partners

This episode with Paul and Garrett tackles the pervasive issue of financial stress, offering listeners practical strategies to foster a healthier relationship with money. They discuss the importance of viewing money as a tool, the benefits of a saver's mindset, the critical role of an emergency fund, and how aligning investments with long-term goals can ease financial worries. The discussion also covers the necessity of regular portfolio reviews to adapt to life's changes, aiming to provide listeners with a blueprint for financial peace of mind.Key Points From This EpisodeEmphasizing money's role in achieving goals rather than defining self-worthThe importance of living below one's means and saving diligentlyThe first step in building a financial safety netHow strategic planning can mitigate financial stressContinuous learning as a tool for empowerment Strategies for effective debt reduction and managementThe need for periodic adjustments to reflect changing life circumstancesWant to learn more? Contact us hereUseful LinksGarrett on LinkedInPaul on LinkedInAscend Investment Partners

In this episode with Paul and Garrett, we delve into the important financial dates, milestones, and numbers you must be aware of for 2024. From tax brackets to retirement plan contributions, we cover various topics designed to help you plan, keep, and grow your wealth for a successful future. Whether it's understanding age-related changes or navigating tax season, we've got the insights you need.Key Points From This EpisodeSignificant financial changes tied to specific birthdaysUnderstanding 2024 tax brackets and implicationsThe significance of ages 50, 59.5, 62, and 65 in financial planningRetirement planning with catch-up contributionsNavigating Social Security benefits and reverse mortgagesMedicare eligibility considerations and planning for healthcareThe impact of reaching full retirement age on financesLong-term capital gains and income tax brackets for 2024Maximizing contributions to Health Savings AccountsEstate and gift tax exemptions and implications for 2024Strategies for Roth conversions and minimizing lifetime taxesWant to learn more? Contact us hereUseful LinksGarrett on LinkedInPaul on LinkedInAscend Investment Partners

Join hosts Paul and Garrett as they usher in the new year with a deep dive into the most critical financial considerations for 2024. This episode is an invaluable guide, offering listeners comprehensive strategies and insights to navigate the complexities of personal finance, investment planning, and market dynamics. From personal goal setting to nuanced tax strategies, this episode equips listeners with the knowledge they need to make informed decisions and set a course for financial success in the year ahead.Key Points From This EpisodeStrategies for personal and financial goal-settingAdjusting finances for life changesManaging pay raises and bonusesDetailed retirement planning in different life stagesFunding major life events and expensesRegular insurance and emergency fund reviews in financial healthAdvanced tax planning techniques The ongoing importance of estate planningWant to learn more? Contact us hereUseful LinksGarrett on LinkedInPaul on LinkedInAscend Investment Partners

Join Paul and Garrett for a comprehensive year-end review of 2023. They conduct an in-depth year-end review of 2023, thoroughly analyzing vital financial trends and insights. They dissect a wide range of topics, from the behaviors of fund managers to global market dynamics, and delve into personal finance strategies and the impact of inflation on consumers and businesses. This episode serves as an essential summary of the year's financial landscape, offering listeners valuable financial planning and decision-making perspectives.Key Points From This EpisodeFund managers' reluctance to invest in their managed fundsUS stock market's growth, highlighted by Apple's market capRolexes outperformed traditional investments over a decadeInflation's influence on business strategies and consumer decisionsRising inflation driving alternative income sourcesDynamic shifts in American income distributionHigh tax burdens for top earners, especially in CaliforniaIncreasing credit card fees and interest ratesChina's declining fertility rate and economic implicationsCostco's significant dominance in the cashew marketThe importance of intelligent investing strategiesWant to learn more? Contact us hereUseful LinksGarrett on LinkedInPaul on LinkedInAscend Investment Partners

In this episode of Your Investment Partners, hosts Paul and Garrett explore the various benefits of higher interest rates in the financial world. They delve into how these rates positively impact cash in bank accounts and retirement incomes, addressing the complexities and changing dynamics of financial planning and investment strategies. The episode provides a comprehensive view of how higher interest rates reshape investment decisions, tax implications, and savings options, offering valuable advice for both individual investors and retirees.Key Points From This EpisodeBenefits of earning interest income on savings and retirement fundsChallenges with banks and credit unions not matching market ratesImpact of higher interest rates on investment decisions, diversification, and emergency fundsThe impact of rising interest rates on emergency funds and investment choicesRecalibration of investment strategies due to higher interest ratesTax implications of increased interest incomeEvaluating municipal bonds as an attractive investment optionThe role of time horizon and risk tolerance in investment decisionsAdjusting investment preferences during retirement in response to higher interest ratesExploring the complexities of withdrawal rates in retirement planningWant to learn more? Contact us hereUseful LinksGarrett on LinkedInPaul on LinkedInAscend Investment Partners

Planning Your Legacy: A Guide to Wealth Transition and Beneficiary ManagementWelcome to another episode of "Your Investment Partners with Paul and Garrett." Today, we dive into a topic that's not always easy to discuss but is of utmost importance: What happens to your accounts after you're gone. We'll guide you through the process, discussing common mistakes and pitfalls, and providing valuable insights on how to handle different types of accounts. Every situation is unique, so understanding the rules and planning ahead is crucial.In this episode, we'll cover:The intricacies of retirement accounts, including IRAs and Roth IRAs.The impact of recent rule changes, like the ten-year distribution rule.The importance of beneficiary designations and how they determine where the funds go.The significance of having a trust and ensuring it's properly funded.The role of successor trustees and professional trustees in managing your assets.How to navigate family dynamics and potential conflicts.We aim to provide you with practical knowledge and advice on a topic that can often be overwhelming. So, stay with us as we demystify the posthumous management of your investments, helping you make informed decisions and plan for the future.If you have questions about your specific situation or would like to share your thoughts, please don't hesitate to reach out to us. We're here to help you navigate the complexities of estate planning and investment management.Remember, it's not a one-size-fits-all scenario, and taking the time to plan now can alleviate stress and potential conflicts for your loved ones later on.

"Navigating Financial Waters: The Power of Diversification"Welcome back to "Your Investment Partners with Paul and Garrett," your go-to podcast for all things financial. In this episode, we dive deep into the concept of diversification and why it's crucial for your financial success. You've heard the saying, "Don't put all your eggs in one basket," but what does it really mean in the world of finance? Join us as we explore the three main dimensions of diversification: account types, time, and investments. We'll also reveal key indicators to assess if you're truly diversified and share practical insights to help you achieve a balanced and secure financial future.In this episode, we'll cover:The importance of diversifying account types for tax efficiency.Balancing your financial strategy across different time horizons.The significance of diversifying investments across asset classes.The risks of concentration and chasing high returns.Strategies for preserving capital and managing risk.How to build a robust investment portfolio for long-term success.Join us on this financial journey to discover the power of diversification and secure your financial future. If you have any questions or thoughts on this topic, please reach out to us via email or phone. Your financial well-being is our top priority!Tune in to gain valuable insights and take steps toward financial security. Don't miss this episode of "Your Investment Partners with Paul and Garrett."

Demystifying Life Insurance: Protecting Your Loved Ones and Your FutureWelcome back to "Your Investment Partners with Paul and Garrett," the podcast that's all about financial planning and securing a successful future. If you're new here, we're thrilled to have you join us on this journey, and for our loyal listeners, welcome back, and thank you for your continued support.In today's episode, we dive into the world of life insurance. Life insurance is often misunderstood and, let's face it, not the most exciting topic. However, it's a crucial part of financial planning, and we're here to break it down for you. We'll explore the purpose of insurance, the different types of life insurance, and how to make informed decisions to protect yourself, your loved ones, and your investments.Here are some key topics we'll cover:The primary purpose of life insurance: Why do you need it?The different types of life insurance policies and how they work.The pros and cons of term insurance versus permanent life insurance.Why life insurance isn't just about death, but also protecting your income and assets.Common misconceptions and pitfalls to avoid when purchasing life insurance.The importance of understanding surrender charges and policy fees.Alternative strategies for financial protection and growth, like Roth IRAs.Life insurance may not be the most exciting topic, but it's an essential part of securing your financial future. Join us as we demystify this often misunderstood aspect of financial planning and help you make informed decisions about your life insurance needs.If you have any questions about the topics discussed in today's episode or want to share your thoughts, please reach out to us by phone or email. We'd love to hear from you and address any inquiries you may have.Thank you for tuning in to another episode of "Your Investment Partners with Paul and Garrett." Be sure to subscribe to our podcast on your preferred platform, whether it's iTunes, Spotify, or any other, and visit our website at www.yourinvestmentpartners.com to stay updated with our newsletter. See you in the next episode as we continue on this financial journey together.

Welcome to "Your Investment Partners" with Paul and Garrett. In today's solo episode, Garrett discusses what happens when a potential client reaches out to them for the first time. Reaching out to a new financial advisor can be intimidating, but their strong financial planning process and client-oriented approach make the process smooth and comfortable.Key Points Covered:The importance of the introductory phone call in understanding client goals and histories.How the conversation during the phone call opens doors to know each other better and assess the right fit.The benefits of referring clients to other professionals when they need specific expertise outside their scope.Explaining their financial planning and investment management process to clients.How they charge and the incentives behind their fee structure.Understanding the urgency and timelines of clients' financial needs.The subsequent deep dive conversation and plan presentation that follows the introductory call.This episode provides valuable insights into what potential clients can expect during the first call with "Your Investment Partners." Listeners will gain a clear understanding of how the firm operates, how their needs will be addressed, and the benefits of establishing a long-term relationship.If you have any questions about the topics discussed or want to schedule an introductory call, feel free to reach out via phone or email.

Helping a Child Without Hurting RetirementWelcome to Your Investment Partners with Paul and Garrett, where we delve into all things financial, helping you plan, preserve, and grow for a successful future. In this episode, we address the common dilemma faced by parents and grandparents: how to support their children or grandchildren without jeopardizing their own retirement plans.Join Paul and Garrett as they discuss practical strategies to strike the right balance between helping the younger generation and safeguarding your financial future. They explore various financial and non-financial ideas to assist children without sacrificing retirement goals.Key Topics Covered:Understanding the importance of sound financial planning and retirement savingsThe significance of working with a fiduciary advisor to protect your interestsStrategies to save for a child's education, including tax-advantaged options like 529 plansConsidering the cost of schooling, government grants, and scholarships as viable alternativesTips for providing financial assistance for a child's home purchase without enabling irresponsible spendingThe value of helping children save for a down payment and offering monthly support instead of lump sumsEncouraging responsible financial habits in the younger generationBy the end of this episode, you'll gain valuable insights into how to assist your children or grandchildren without jeopardizing your own financial security. Tune in to discover practical ways to support the next generation while ensuring a stable and comfortable retirement.Share your thoughts, questions, or experiences on this topic by reaching out to us via email or phone. We're excited to have you join us as we navigate the delicate balance of helping children without hurting retirement.Don't miss this insightful episode packed with expert advice and actionable tips. Subscribe now and be part of the Your Investment Partners community!

Estate Planning and Document Review: Navigating the Ever-Changing LandscapeWelcome to Your Investment Partners with Paul and Garrett! In this episode, we dive into the important topic of estate planning and document review. Join us as we explore the key considerations, common pitfalls, and practical tips for effective estate planning. Discover the significance of setting goals, involving your children, and planning for different scenarios. We also shed light on the complexities surrounding estate taxes and the potential benefits of hiring a professional trustee. Additionally, we touch upon the often-overlooked aspects of digital estate planning, such as managing passwords, cryptocurrency, online accounts, and social media profiles. Tune in to gain valuable insights and ensure your estate planning strategy remains up to date!Key Points:Setting goals and preparing for incapacity or passing awayIncluding children in estate planning discussionsPlanning for different scenarios when mental capacity is compromisedThe importance of documenting preferences for burial and healthcare decisionsUnderstanding the financial complexities of charitable foundations and trustsNavigating the ever-changing estate tax lawsConsidering professional trustee services for larger estatesBalancing family dynamics and avoiding estate-related conflictsAddressing the digital aspects of estate planning, including passwords and online accountsRegularly reviewing your estate plan every five years for necessary updatesThis episode offers practical insights and expert advice to help you make informed decisions when it comes to estate planning and document review. Don't miss out on this valuable discussion! If you have any questions or thoughts on the topics covered, reach out to us via phone or email. We look forward to engaging with our listeners and providing further assistance.Remember, estate planning is an ongoing process, and staying informed is crucial. Join us on this episode to ensure your estate plan is robust and aligns with your goals and wishes.Tune in now to gain expert insights on estate planning, document review, and digital estate considerations. Prepare yourself for the complexities of the ever-changing landscape and safeguard your legacy.

Navigating Your Investment Portfolio Review: From High-Level Goals to Methodological DetailsWelcome to "Your Investment Partners" with Paul and Garrett! In this episode, we delve into the crucial aspects to consider during your investment portfolio review. It's easy to get lost in the details, but we believe starting from a high-level perspective, and focusing on your goals, leads to greater clarity and alignment. Whether you're preparing for an investment review meeting or examining your statement, this episode will provide valuable insights to guide your decision-making process.Key Points:The importance of approaching investment portfolio reviews from a holistic perspectiveStarting with big-picture goals and objectives for a clearer investment strategyUnderstanding time horizons and their impact on investment decisionsBalancing risk tolerance with long-term financial planningAvoiding knee-jerk reactions to short-term performance issuesThe current market landscape and its effect on conservative stocksSeeking value and attractive valuations as a long-term investment approachJoin us as we discuss the considerations you should have in mind during your investment portfolio review. We provide expert advice, share practical tips, and offer insights to help you make informed decisions that align with your financial goals.Have questions or thoughts to share? We encourage you to reach out to us and be part of the conversation. Don't miss out on this episode, packed with valuable information to enhance your investment portfolio management.Tune in now to gain clarity, align your investment goals, and make informed decisions for a secure financial future.

In this solo episode, Garrett tackles the essential topic of retirement numbers and dives into the key figures you need to consider when planning for your retirement.Join Garrett as he discusses:Understanding the three crucial numbers in retirementExploring the importance of knowing your expenses and how they impact your retirement planAssessing your non-investment income sources, such as Social Security, rental income, or pension income.Determining your desired level of income stability and flexibility in retirement.Considering the impact of investment market fluctuations and how they affect your income projections.Finding the balance between expenses and income to guide your retirement planning.Connect with Ascend Investment Partners:Ascend Investment PartnersBook An AppointmentLinkedIn: Garrett SmithLinkedIn: Paul NormanYouTubeThanks for tuning in. Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

Mastering Social Security: Four Paths to Maximizing Your BenefitIn this episode, Garrett takes the spotlight to delve into Social Security benefits and shares four strategies to maximize your Social Security benefit.Join Garrett as he discusses:Understanding how Social Security is calculated and verifying your earnings history.The importance of working a full 35 years and how it impacts your benefit.Exploring the advantages of delaying your benefit and how it can increase your payout.Insights into the benefits available to spouses and ex-spouses.Connect with Ascend Investment Partners:Ascend Investment PartnersBook An AppointmentLinkedIn: Garrett SmithLinkedIn: Paul NormanYouTubeThanks for tuning in. Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

Navigating Politics as an InvestorJoin Paul and Garrett as they discuss investment strategies that transcend political cycles. They emphasize the importance of diversifying across different industries to mitigate the impact of legislation on any one sector. With the upcoming election, they caution against getting caught up in political rhetoric and advise watching what politicians do, not what they say.The hosts emphasize the importance of keeping emotions in check when making investment decisions and avoiding the pitfalls of getting emotionally invested in political beliefs. They suggest avoiding spending too much time on political websites and instead focusing on the long-term perspective of investing.Keeping emotions in check when making investment decisionsA focus on well-established companies with robust lobbying organizationsAvoiding getting emotionally invested in political beliefs and focusing on the long-term perspective of investing.Connect with Ascend Investment Partners:Ascend Investment PartnersBook An AppointmentLinkedIn: Garrett SmithLinkedIn: Paul NormanYouTubeThanks for tuning in. Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

Proactive Tax StrategiesIn this podcast, Paul and Garrett discuss the importance of considering taxes when saving for retirement. They provide insights on how to prepare for the future by saving in the right tax bucket, not only from an investment standpoint, but also from a tax perspective.The hosts explain the benefits of having multiple buckets to pull income from during retirement, including tax-deferred, tax-free, and taxable dollars. This approach provides flexibility and can help smooth out the tax situation.Paul and Garrett also discuss the importance of being proactive in tax strategies and saving, even if you don't necessarily need the deductions or plan to save for the long term. By doing the legwork now, individuals can be better prepared for future tax situations and have more optionality.The importance of considering taxes when saving for retirementBenefits of having multiple buckets to pull income from during retirementThe importance of being proactive in tax strategies and savingHow to prepare for future tax situations and have more optionalityConnect with Ascend Investment Partners:Ascend Investment PartnersBook An AppointmentLinkedIn: Garrett SmithLinkedIn: Paul NormanYouTubeThanks for tuning in. Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

Are you interested in learning how to invest in dividend stocks? In this podcast episode, Paul and Garrett, talk about their investment philosophy and how dividends can play a role in an investment portfolio. A few topics that are covered: What to consider in companies with the highest dividend yields? The importance of rising dividends which may keep up with inflation and maintaining spending power. The benefits of a long-term investment approach, which allows for the possible growth of dividends over time. What about ETFs and mutual funds? Thanks for tuning in. Questions about today's episode let us know. https://ascendinvestment.com/ (801) 476 - 1200

Cash Management During A Banking Crisis The hosts, Paul and Garrett, talk about the differences between FDIC and SIPC insurance, common pitfalls to cash management, and some ideas to protect yourself and your cash. They also discuss the history of bank closures and how it is not unusual for banks to close their doors. The hosts then delve into the concept of duration mismatch, which occurs when banks lend money for a longer duration than the deposit made by the customer, leading to a shortage of cash. The history of bank closures in the US and the fact that banks do close on occasion Understanding how banking works today, and the FDIC limits and how they work Discussion on what happened to Silicon Valley Bank and how they got into trouble Mismatched duration in borrowing and lending, and its effects on banks

Family Dynamics Today we will be talking about family dynamics. When you're transitioning from one generation to the next, there's often some hard conversations that need to take place. When do you bring a child in and what should they know, or if you're a child helping out mom and dad, what should you know and what can you do to help?Here are a few topics we will cover:When to loop in the professionals - typically the sooner, the betterThe important documentsWhat you can do to minimize any surprisesCleaning up beneficiariesSettling estatesThanks for tuning in. Questions about today's episode let us know.Connect with Ascend Investment Partners:Ascend Investment PartnersBook An AppointmentLinkedIn: Garrett SmithLinkedIn: Paul NormanYouTubehttps://ascendinvestment.com/(801) 476 - 1200

Ways Your Retirement Can Get Off TrackToday we are talking about ways your retirement can get off track. We discuss common mistakes that we've seen, and ways you may be able to avoid them. We also talk about questions you should be asking yourself through various financial stages.Here are a few topics we will cover:4 Common ways retirement can fall shortWork-optional phaseSide work or part-time workLong-term savingsStarting early and being consistentEarnings increases taxesHaving multiple tax buckets to draw fromWhat's good now but what's best for the futureKeeping your options open as much as you can for as long as you canThanks for tuning in. Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

SECURE ACT 2.0 - What You Need To KnowToday we are talking about the recent legislation that was passed known as the SECURE ACT 2.0, we cover our approach to financial planning around the ever-changing legislative landscape, what unique financial planning opportunities the SECURE ACT 2.0 presents, and how you can fold this into your financial plan.Rules are always changing in Washington. Since Covid, there's been the Care's Act, Inflation Protection Act, Secure Act, and now you've got the Secure Act 2.0, and all of them impact retirees and potential retirees. Here are a few topics we will cover:Sunset ProvisionsROTH OptionsRMD's - Checking the new rulesPenalties Thanks for tuning in. Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

What To Do With Extra SavingsIn today's episode, we will be talking about what to do when you have extra savings. We will discuss how to think through the different trade-offs and balancing those with your financial goals, how to approach paying down debt and more.The problem everyone wants to have - extra savings! We will be discussing what accounts and considerations you should have if you have extra savings.Here are a few topics we will cover:Ongoing Savings vs LumpsumsBeing Retired vs Still WorkingEmergency FundsInterest Rates529 PlansThanks for tuning in. Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

BudgetingBudgeting can be one of the most boring categories, but it can also yield the most information in our financial spending life.In this episode, you get just me, Garrett! I will be covering four types of budgets that may work for you and how to decide if it's one that you should implement. While budgeting takes a lot of work, it can give you the clearest picture in your financial life, especially during times of transition.Here are a few topics I will cover:50-30-20 BudgetEnvelope Budgeting MethodZero Based BudgetValue Based BudgetThanks for tuning in. Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

CybersecurityEverything and anything you use online is a potential problem - check out today's episode for some cybersecurity tips to protect yourself and your loved ones.In this episode, you get just me, Garrett! I will discuss some cybersecurity ideas and tips around fishing and identity theft. I will also be discussing some things you can do around password management and some available resources to help you navigate and maintain good internet hygiene.Here are a few topics I will cover:Public computer risksLeaving information laying aroundGiving out informationReusing passwordsClicking linksMoney movement verificationThanks for tuning in. Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

Starting The Year Out On The Right FootWhat are some different things you can do to start the year out on the right foot financially?In this episode, we discuss what issues you should consider at the start of the new year. We talk about personal goal setting and how to line up your investments insurance and estate planning up with your goals. We also touch on the importance of an emergency fund to make sure you can have a successful new year.Here are a few topics we will cover:Being purposeful with your spendingProtect the emergency fund - only using it for true emergenciesReviewing your insurances for the yearTax noticesTrustsThanks for tuning in. Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

End of Year Planning and ExecutionWhat are some different things you can do to wrap up the year financially?In this episode, we discuss different issues you should consider before year end. We cover what to look out for, as well as the areas you may need to pay attention to. We also discuss why it's good to look back over your favorite and least favorite purchases of the year and any last minute tips before the end of the year. Here are a few topics we will cover:Tax Loss HarvestingLoss CarryforwardMaking sure all 401K contributions get in by EOYDid the money go where your goals were?Charitable givingThanks for tuning in. Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

All About Annuities What is an annuity?In this episode, we discuss what an annuity is, the types of annuities, and when you should be buying them. Here are a few topics we will cover:Fixed annuities Variable annuities Shifting risksOther options and alternatives Thanks for tuning in. Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

The Retirement Danger Zone Common mistakes and considerations for the years right around the time of retirement.In this episode, we discuss different mistakes and considerations on how to make retirement enjoyable so you can sleep well at night.Here are a few topics we will cover:Plan for a longer than planned life expectancy - it's better to be overfunded Having the right numbers Cost of living increasesHaving a handle on any debtsMedical costs Insurance coverageGetting too conservative too soon Put together a plan that makes sense to your particular situationThanks for tuning in. Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

Planning for retirement in your 40's & 50's How can you financially enjoy your life? In this episode, we discuss different things you can do to help plan for your retirement in your 40's and 50's so you're not constantly stressed about your next payment. Here are a few topics we will cover: Work option flexibility "Pay off my house account" Options of where to pull money from Being intentional about your retirement savings Knowing what your tax bracket is Thanks for tuning in. Questions about today's episode let us know. https://ascendinvestment.com/ (801) 476 - 1200

Planning for your retirement in your 20's & 30's How can you get ahead of the game and start planning for your retirement early? In this episode we discuss how to form good habits early on so that you have options when it's time to retire. Here are a few topics we will cover: Having realistic retirement goals - Don't plan on marrying rich or getting a big inheritance How to be ready for retirement so you have options. About 50% of people are pushed into retirement rather than choosing retirement How/where can I save more? Keeping track of your accounts and how much they should grow Roth conversion Thanks for tuning in. Questions about today's episode let us know. https://ascendinvestment.com/ (801) 476 - 1200

What important documents do you need to hold on to and what should record keeping look like for them?In this episode we discuss critical documents, records, and more that you should hang on to and why.Questions about today's episode let us know.https://ascendinvestment.com/(801) 476 - 1200

Welcome back to another episode! Inflation affects everyone differently and in todays episode we walk through it. What does it look like for companies? How do we see inflation impacting pre-retirees? Thanks for tuning in. Questions about today's episode let us know. https://ascendinvestment.com/ (801) 476 - 1200