Managing Your Financial Future with Lucia Capital Group

Dec 09 2024 200 ep. 33 mins 34

Managing Your Financial Future with Lucia Capital Group Podcast artwork

Managing Your Financial Future with Johnny Dean and "Professor" Rick Plum, CFP® Brought to you by the advisors and investment professionals at Lucia Capital Group, a registered investment advisor. Integrating financial planning and investing decisions, designed to help you reach your own financial goals. Want the best tips on which hot stocks you should buy this week? Go somewhere else - we don't do that. It's all about planning, strategy, managing your future and taking control of your financial life. Securities offered through LPL Financial, member FINRA/SIPC.

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Is This a Good Time for Roth Conversions?

Dec 09 2024 38 mins

Today we're asking the question that we posed to our listeners at the beginning of 2024: Is this a good time to do your Roth conversions?There are reasons for doing them at the end of the year, just as there are also sound reasons for waiting until the new year begins. What it all comes down to is whether or not you know your tax situation for the year - which, with just a few week

Why the Wrong Withdrawal Strategy Can Be Disastrous

Dec 02 2024 38 mins

Building a nest egg is relatively easy if you're both consistent and patient. Regular contributions over time can lead to compounded growth, which may give you the amount of money you need to live on.But while building a savings can be easy, keeping it from running out is a whole other challenge. How you take withdrawals from your savings once you're retired is crucial to the survi

Let's Do an Actual Bucket Strategy!

Nov 25 2024 39 mins

Regular listeners to this podcast know that we talk a lot about a Bucket Strategy, and why we so firmly believe in it. But it's important to note that we're not just referring to any bucket strategy - rather we like to refer to it as THE Bucket Strategy®.To us, it's not as simple as dividing up assets into three segments and then calling it a day. There are individual circumstance

Asset Location - The Hidden Gem of Tax Management

Nov 18 2024 38 mins

There's a well-known topic in the investing world known as Asset Allocation which is primarily about deciding which asset categories you should own – stocks, bonds, CDs, alternative investments, etc. It's an important part of building your portfolio. But there's another, equally important part that doesn't get talked about nearly enough: Asset Location. This has to do with how as

How Much Can You "Safely" Withdraw From Your Portfolio?

Nov 11 2024 39 mins

Most people, by the time they reach retirement age, have a certain amount of money saved up that they'll need to tap into from time to time. Problem: that money may need to last a lifetime, and because you don't know how long you'll live, you have no idea how much is "too much" to take out.You' re going to require a certain amount of money to meet your basic expenses, but that stas

Do Not Confuse Volatility With Risk!

Nov 04 2024 37 mins

When the stock market behaves erratically, it can create a lot of fear and anxiety among investors. Large swings to both the up and down side are what is known as volatility, and, like turbulence in an airplane, it can make people jittery and prone to making rash moves.Stocks are always volatile in the short run. But stock market investing should never be a short-term play. So why

Building Wealth vs. Keeping Wealth

Oct 29 2024 37 mins

It's a fact that many people are not aware of: your wealth accumulation strategy should be vastly different from your wealth distribution strategy. In fact, they require very nearly opposite skills.Building your nest egg requires you to use the market volatility to your advantage, using various means like dollar cost averaging and buying through the many market downturns. But keepi

Which Assets Belong in Each Bucket?

Oct 21 2024 35 mins

The Bucket Strategy® is both simple and complex. It’s simple in the sense that there’s a short-term, midterm, and long-term bucket, and maybe a couple of others, depending on your needs. The complexity begins when you need to determine which assets should go into which buckets.There are many things to consider: time frame, taxability, income needs, and available assets, to nam

Is It Really Better to Own More Stocks in Retirement?

Oct 14 2024 35 mins

If stocks are inherently risky, and if you're retired and you're risk-averse, doesn't it make sense to lessen your exposure to the stock market as you get older? That's the logic behind certain "rules of thumb" that say the older you are, the less money you should have in stocks.But that logic is faulty. It assumes that everyone's situation is the same, and, even worse, that people

What's the Best Age to Take Social Security Benefits?

Sep 23 2024 33 mins

Social Security retirement benefits are the bedrock of guaranteed income for most American retirees. It forms the income basis that helps to build the rest of your portfolio's withdrawal strategy. So it makes sense to ask the question: at what age should I begin taking my retirement benefits?Everyone eligible for benefits has a "full retirement age" at which benefits may be paid ou