Retirement Coach's Corner

Hosted by Alan Mercurio & Troy Bolton

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Jul 2024

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About the show

Financial and retirement planning guidance from the team at Mercurio Wealth Advisors in Louisville, Kentucky. Join Chief Financial Advisor Alan Mercurio and Senior Wealth Advisor Troy Bolton each show for helpful conversations about money, life, and retirement. Step into the Retirement Coach's Corner to learn about 401(k)s, IRAs, income planning, investing, and so much more. If you have any questions, call 502-253-9366, email info@mercurioadvisors.com or visit www.mercurioadvisors.com online for more information.

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60 recent

July 18, 202411 min

Mailbag: How Should I Prioritize Newfound Wealth?

Are you ready to take control of your financial future? In today's podcast, Alan and Troy dive into listener questions about retirement planning, like what to do about your old 401(k) or how to handle a sudden influx of money. While each of these are "good" problems to have, you still want to be strategic about your next steps. Alan and Troy stress the importance of having a comprehensive financial plan tailored to your unique situation. Whether you're five to ten years away from retirement or just starting to think about your financial future, sitting down with a qualified professional can help you make informed decisions that align with your goals. Here's some of what we discuss in this episode: Should I do a 401(k) rollover? What reasons do people do a rollover? How do you handle newfound wealth? Get additional financial resources here: https://mercurioadvisors.com/podcasts/

July 2, 202412 min

Adding Social Security to Your Retirement Income Plan

In retirement, your income source is different than it was during your working years. With inflation and market fluctuations to consider, how can you build an income plan that is strong and stable? Alan and Troy share what a comprehensive retirement income plan looks like and what kind of accounts you want to draw from first. Then, they talk through strategies around Roth conversions. Is it right for you? While there are limits to how much you can contribute to a Roth IRA each year, does that rule apply for Roth conversions? What kind of impact could it have on your taxes or Medicare? Bottom line: talk with a financial advisor to determine the right next steps for you and your unique situation. Here's some of what we discuss in this episode: Mailbag: Starting Social Security at age 70? Mailbag: Can I do a Roth conversion for any amount of money? Past performance is not the same as future results. Why working with a financial advisor matters. Get additional financial resources here: https://mercurioadvisors.com/podcasts/

June 20, 202414 min

Financial Half-Truths

It's easy to be taken in by half-truths in the financial world without understanding the whole truth. Troy breaks down some of these commonly held beliefs to provide clarity and advice for your financial future. He dives into misconceptions about market losses, portfolio fees, mortgage interest rates, and diversification strategies. Through real-life examples and expert analysis, you'll learn valuable insights to help you navigate your retirement planning with confidence. One of the most memorable takeaways from the episode is the analogy used to describe diversification: "You don't want all your eggs in one basket, but you want all your baskets on the same table." This means diversifying your investments while keeping them within a manageable framework, making it easier for you and your loved ones to handle your affairs as needed. Here's some of what we discuss in this episode: "The market always goes up in the long-run." "The fees are less than one percent." "It's better to invest money than pay off your mortgage." Get additional financial resources here: https://mercurioadvisors.com/podcasts/

June 13, 202416 min

Financial Wisdom with Yogi Berra

Yogi Berra, hall of fame baseball player and legendary catcher for the New York Yankees, was known not only for his athletic abilities but also for his witty and often paradoxical sayings. These quotes provide a unique lens through which we can view and understand the complexities of financial planning. One of the standout quotes discussed in the episode is, "I never said most of the things I said." This quote reminds us to be cautious about the promises and information we receive, especially when it comes to financial products and services. Alan and Troy emphasize the importance of working with a knowledgeable advisor who can provide a clear and honest assessment of your retirement plan. One way to start is with Troy's book, "Retirement 360 Game Plan." Here's some of what we discuss in this episode: A lot of retirement plans are lacking a little bit in actual plans. Everything is costing a lot more because of inflation. One of the biggest concerns most people have: taxes in retirement. The basic questions to ask about Social Security and pension options. What's in the "Retirement 360 Game Plan" and how it could help you. Get Your Retirement Toolkit Today: https://financeinsights.net/QAZxC84drU0k6B Get additional financial resources here: https://mercurioadvisors.com/podcasts/

May 30, 202423 min

All About Insurance

Understanding your insurance options is a critical component of a successful retirement plan. From health insurance to long-term care, life insurance, and even travel and umbrella policies, today's podcast is packed with valuable insights from Alan and Troy to help you navigate these decisions with confidence. Be sure to take the time to explore your options and incorporate them into your retirement strategy with the help of a trusted financial professional. Do you have the right insurance in place to meet your needs should you face a worst-case scenario? Having this helpful financial tool can not only give you peace of mind, but also protect your financial future. Here's some of what we discuss in this episode: Health insurance is always weighing on people's mind as they head into retirement. Long-term care insurance is becoming more important as people live longer. Life insurance can be used to cover income if somebody passes away, but has other uses, too. What do we think about burial insurance, travel insurance, and umbrella policies? Get additional financial resources here: https://mercurioadvisors.com/podcasts/

May 17, 202417 min

Mistakes When Choosing A Financial Advisor

When it comes to retirement, having the right advisor can make all the difference. But with so many financial advisors out there, how do you choose the right one? In today's episode, we'll highlight the key areas to consider, whether you're evaluating your current advisor or starting the search for one. Listen in as Alan and Troy uncover some of the critical mistakes many make when choosing a financial advisor. They'll cut through the noise to highlight what often goes wrong- from misplaced trust in big names to overlooking an advisor's fiduciary status. This conversation is your essential guide to avoiding those pitfalls and making informed decisions that align with your financial goals. Here's some of what we discuss in this episode: Not understanding how your advisor gets paid and the services you're getting for that fee Putting too much trust in a recognizable national brand name Ignoring your advisor's fiduciary status Forgetting to ask about the advisor's network and resources Get additional financial resources here: https://mercurioadvisors.com/podcasts/

April 25, 202416 min

The Kentucky Derby and Retirement Planning

When you live in Louisville, you know all about Derby Day! But do you know how it relates to your retirement planning? On today's show, Troy and Alan discuss what you can learn from the rigorous training required for the main event to understanding the best investments needed to win the race. Learn how a well-bred plan, a dedicated support team, and the right amount of risk can set you up for a victorious retirement run. Here's some of what we discuss in this episode: Just like horse racing, you have to train and prepare for your retirement. Understand the investment needed to win the race. The right team makes all the difference. Know what your ultimate goal is with your retirement planning. Get additional financial resources here: https://mercurioadvisors.com/podcasts/

April 11, 202415 min

Expectation vs. Reality

Some things aren't as good as they seem. And other things might just surprise you! We talk today about some areas financially where expectations and reality don't always align. Have you thought through what your retirement will actually look like? It's easy to imagine relaxing on a beach, but is that the reality for you? Is that what you want? How have you prepared to have the retirement lifestyle you want? Your retirement plan involves a lot of things, including room for change! It's not something to set and forget. Instead of being too proud to ask for help, reach out to a financial advisor to have experienced professionals guide you through the decisions and strategies. Here's some of what we discuss in this episode: What do you believe retirement will look like? Will your expenses go up or down in retirement? Does the financial plan just take care of itself? Don't be too proud to ask for help. Get additional financial resources here: https://mercurioadvisors.com/podcasts/

February 15, 202417 min

Financial Good Habits and Bad Habits

Everyone has their own habits and routines when it comes to handling their finances and investing. For instance, having a good budget and being disciplined can help you achieve the financial goals you have for the future. You also want to think about what life experiences you want to have, now and in the future. It seems wise to stay informed and pay attention to what you are investing in. But which of these habits may seem helpful but can actually cause problems? So many of these financial habits are all about having the right balance and an understanding of your financial plan. Working with retirement coaches, like Alan and Troy, can help you see which of these habits can be a double-edged sword and how to handle it. Don't wait for a review to come up—if you have questions, reach out now and avoid the stress of the unknown. Here's some of what we discuss in this episode: Ignoring account statements. Keeping a strict budget. Investing in stocks you're familiar with. Staying informed by watching and reading financial news. Get additional financial resources here: https://mercurioadvisors.com/podcasts/

February 2, 202415 min

Will These Apocalyptic Predictions Ever Come True?

We've all heard the apocalyptic predictions about Social Security, the national debt, and other major issues that are supposed to sink the economy. Do any of these predictions have merit in the years ahead? In this episode, we'll try to separate sensationalism from reality. In a world constantly buzzing with economic uncertainties and sensational headlines, Alan and Troy step in as your reliable guides to navigate the noise. Join us as we cut through sensationalism to uncover the truth behind these predictions and ensure your financial playbook is ready for whatever the future may bring. Here are the predictions we discuss in this episode: "Social Security is going broke and they're going to have to cut everyone's benefit." "The national debt is out of control and tax rates are going to go through the roof at some point." "Climate change is a serious problem, and our economy needs to be overhauled in order to deal with it." "Runaway inflation will rock the economy for years to come." Get additional financial resources here: https://mercurioadvisors.com/podcasts/