Candid Conversations: Retirement Talk with Ryan Cravitz

As much as any other threat, recognizing and avoiding scams has become a necessary skill for today’s retirees to develop. In today’s episode, we’ll share a story of how a scam destroyed a woman’s entire retirement savings. Then, we’ll explore some crucial steps you can take to safeguard your financial well-being against the growing tide of scams and identity theft. Here’s some of what we discuss in this episode: Resources for this episode: How this 77-year-old widow lost $661,000 in a common tech scam: ‘I realized I had been defrauded of everything’ - https://www.cnbc.com/2023/10/08/how-one-retired-woman-lost-her-life-savings-in-a-common-elder-fraud-scheme.html Fraudsters targeting senior citizens with multiple financial scams – https://www.thomsonreuters.com/en-us/posts/investigation-fraud-and-risk/senior-citizens-financial-scams/ CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

We work through all types of scenarios with clients each day and find tools that will help them reach their financial goals. To help you get a better idea of how we work through these different scenarios, we are going to run through a list of questions that we’ve been asked recently. Each of these topics cover common financial scenarios that you have probably dealt with already or might come across in the future. We’ll explain our process for answering them, some of the things you’ll want to consider, and how to determine your best path forward. Here’s some of what we discuss in this episode: CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

Whether you're nearing retirement, already retired, or just planning ahead, it's crucial to stay informed about Social Security and any changes that happen each year. Today we’re going to share some key things that you need to know and bring you up to speed on some updates that need to be aware of. Ryan will also tell you how this might impact you and the planning you’ll do this year. Here’s some of what we discuss in this episode: CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

It’s not always easy to keep up with rule changes and updates when they happen each year, but we like to stay on top of anything that might impact your retirement planning. In today’s episode, we will bring you up to date on what’s new for 2024. From tax brackets to Social Security to 529 plans, we’ll cover some key planning items that everyone will want to know about. Here’s some of what we discuss in this episode: CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

As we close in on the end of the year, we want to finish up by answering questions that people have asked us recently. We’ll cover key financial planning topics like retirement withdrawal rates, investing in CDs, advisor fees, Social Security and more. Here’s some of what we discuss in this episode: CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

Today we’re going to finish up our two-part conversation that will juxtapose the individuality of retirement plans with the foundational principles that remain constant regardless of who you are. These 10 total truths need to be accounted for when you build a plan for retirement, and we’ll talk about how and why they could have an impact on your financial future. Here are the retirement truths we discuss in this episode: CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

Retirement is a unique journey for each of us. The thought that there's a one-size-fits-all solution is a myth, but what if we told you there are certain universal truths that can guide every retiree? We’ll explore the realities that all of us will face in this episode so join us as we juxtapose the individuality of retirement plans with the foundational principles that remain consistent across the board. Everyone might address each of these truths in their own way, but no one should ignore what the things we talk about today. This list of 10 truths will be broken up into two parts so make sure you stay tuned for the next episode. Here’s are the truths Ryan will break down: CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

We came across an article recently that would get anyone’s attention when they’re trying to save for retirement. The headline said this person lost $400k in a Roth 401(k) and warned others about the risk as well. While this headline could very easily be characterized as clickbait, we wanted to explore it a little further and see how much truth was in these numbers. Here's some of what we’ll discuss in this episode: Read the article here: https://finance.yahoo.com/news/lost-400k-retirement-savings-roth-174006044.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAIkWwMYSM-fB6t_MX8lExd4gm_ZfdGmNKd-SR1Li8ShRy48dw1PsMw5s01MCGixWIonmjy5Lcp5sNbJ2uQscXkEZtO2c3IOdRhKNuiepnd10XTXtHK1jh2mJwdhTwY42rtygybXhWczN7Bt86GnV3U378E4KLteJIZp0XmwYoUSk CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

Finding a trustworthy and competent financial advisor is essential for securing your financial future. After all, they play a vital role in helping you make informed decisions about your money, investments, and long-term financial goals. We’ll find out in today’s episode as we explore how to identify “The Ghost”, “The Jargon Juggler”, “The Chameleon”, and several more. And what should you do if you encounter them? Here's some of what we’ll discuss in this episode: CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

Don’t get us wrong. In many cases, your 401(k) can be your best investment vehicle, offering numerous benefits and tax advantages and many times a 100% return on some of your contributions (also known as an employer match). However, it's important to recognize that it might not always be the optimal choice for everyone. Join us in this thought-provoking episode as we dissect some reasons why someone should NOT invest in a 401(k). Here's some of what we’ll discuss in this episode: (2:45)(5:17)(8:28) (10:02)(13:04)CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

In this episode, we've distilled it down to what we believe are nine big mistakes to watch out for. Avoiding these crucial missteps can have a significant impact on the success of your retirement plan. So, join us as we delve into these key issues and learn how to navigate them effectively when it's your turn to plan for retirement. Here are some of the things you’ll learn in this episode: CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

Not all retirement accounts are created equal. It's crucial to understand the purpose and advantages of each type of account to make the best choice for your future. In this episode, we'll delve into the different types of retirement accounts, including 401(k)s, IRAs, Roths, and several other examples. Here are some of the topics we’ll discuss in this show: CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

Are you preparing for retirement but feeling confident that you have covered all the expenses? Well, think again… It turns out that many retirees overlook some crucial expenses that can leave them financially vulnerable. Here are some of the topics we’ll discuss in this show: (1:13)(2:47)(4:53)(7:30) (12:22)(14:14) CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

Are you confident that your financial plan is complete? Many people believe they have a solid plan in place, only to realize later that they've missed important areas. From not accounting for long-term care expenses to overlooking the impact of taxes on retirement income, there are many ways a financial plan can be incomplete. Here are some of the topics we’ll discuss in this show: (1:31)(3:25)(5:56)(7:50) (9:34) CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

In today’s episode, we’ll break down the top ten tax questions retirees are asking in 2023. Before you file your 2022 taxes and plan ahead for the rest of the year, make sure to listen to this episode as we’ll discuss some important tax questions that retirees should ask themselves to ensure they're making the most of their retirement savings and minimizing their tax burden. Here are some of the tax topics we’ll discuss in this show: (1:30)(4:04)(8:15)(12:41) CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

For episode 11 of Candid Conversations: Retirement Talk with Ryan Cravitz, we’re tackling a topic that’s often a source of confusion for many people: annuities. There are different types of annuities, each with their own unique nuances, and it’s important to have a basic understanding of how they work and how they might fit into your financial plan. In this episode, we’ll break down each type of annuity and discuss how they can be used to meet your specific financial goals. We’ll discuss the following annuity types: - Immediate - Fixed - Variable - Indexed Ryan will also share some examples where annuities helped fill gaps in his clients' income plans. If you're not sure whether an annuity is right for your financial situation, be sure to tune in to this episode. We'll provide valuable insights and information to help you make an informed decision. Here’s some of what you’ll learn on the podcast: (1:35)(3:45)(5:51)(7:30)(11:40)If you need help determining if an annuity is right for your situation, don’t hesitate to contact Ryan for a full analysis of your financial plan. CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

For episode 10 of Candid Conversations: Retirement Talk with Ryan Cravitz, we’re peppering Ryan with, you guessed it, 10 listener questions about a wide range of financial planning and retirement topics. From IRAs to long term care, tax brackets, reverse mortgages and more, Ryan will share tips and guidance that will level up your financial knowledge in almost every corner of the retirement planning space. One listener is turning 72 and starting to worry about RMDs. Another is interested in working with multiple financial advisors. Is that a clever idea or a recipe for disaster? Another question leaves us thinking about the adage of why you should never assume. And what do you do if you’re afraid to spend money in retirement? You might be surprised that’s actually a common issue among many people who leave the workforce. So check out this episode of Candid Conversations: Retirement Talk for answers to these questions and more helpful discussions about money and finance. Here’s some of what you’ll learn on the podcast: (1:23)(4:22)(9:02)(14:20)(17:45)CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

When you really boil it down, there are really only three places where you can invest money: the banking world, the insurance world, and the Wall Street world. Understanding how these three worlds of money are used is important, but so is knowing the pros can cons for each. Once you’ve done that, you’ll have a better grasp on how to structure your portfolio. Let’s talk about the role that each of those worlds plays in a good financial plan and how we help our clients balance each of these. Here’s some of what you’ll learn on the podcast: · The best uses of the banking world (4:33) · How the insurance world fits into your financial plan. (7:37) · The pros and cons of insurance. (11:12) · Best uses of the Wall Street world. (13:28) · The Wall Street world has some big cons but also carries some pros that can benefit you. (15:13) CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

On today’s show, we’re going to open up the mailbag and find out what questions you have for Ryan. Over the course of this episode, we’ll tackle annuities, life insurance policies, Social Security strategy, and whether it’s time to be more aggressive with your investments. If you’ve been curious about any of these financial planning topics, we hope this episode might provide a little more clarity and help you understand how we work through each of these items with our clients. Here’s some of what you’ll learn on the podcast: · What should you do with your annuity once it has matured? (1:37) · Should you add a life insurance policy after retirement? (4:00) · Why Social Security claiming should be a part of your retirement planning discussion. (5:29) · Which one is better – term life insurance, universal life, or whole life? (9:12) · Is now a time to be a little more aggressive in order to get better returns? (12:18) CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

The question that gets asked most often when someone sits down with a financial advisor is ‘Am I ready to retire?’ We all want to reach the point where we’re financially independent but have you taken the necessary steps to reach that point? Today we’ll share some of the common discussions we have with clients when it comes to determining when you can step away from work and begin that next chapter of your life. Plus, we’ll share a few stories about how people know they’ve reached that point and ways we help them when they haven’t. Here’s some of what you’ll learn on the podcast: · What’s the reason people are hesitant to retire? (1:28) · Where does a lack of confidence in retirement come from? (3:13) · How we approach the conversation when working longer is necessary. (5:49) · How to choose assets during a divorce. (9:13) · Picking between retirement and paying for a child’s education. (10:13) CONNECT: If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.com Call: 714-462-9155 Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.