My Smart Retirement

Nancy Fleming

Whether you are planning to retire someday, or find yourself already there, you know there’s lots of advice swirling around - some dangerous, some making outrageous claims. Where do you go? Who can you trust? How do you avoid the danger zone? Nancy Fleming with Fleming Financial Services features a weekly show that offers sound, practical solutions to these concerns and more. New episodes offered every Saturday. read less

Ep 390: Warning Signs – Spotting Problems In Your Financial Life
Jan 26 2023
Ep 390: Warning Signs – Spotting Problems In Your Financial Life
Just like the lights on your dashboard can indicate if something is wrong with your car (like low tire pressure or leaking oil), there are indicators in your financial life that might point out that you have a problem that needs to be addressed. On this episode of My Smart Retirement, Nancy Fleming breaks down at least four warning signs that should give you a clue something isn’t quite right with your financial and retirement plan. Having no idea what it costs to fund your lifestyle, being overly focused on a specific dollar amount, or getting worked up over the financial impact of the day’s news stories are just some examples of the warning signs Nancy will explore. And stay tuned for the end of the show where Nancy peels back the curtain on a new industry buzzword/phrase called “Next Chapter Advisors.” Here’s some of what you’ll learn in this episode: • Warning Sign #1: You have no idea what it costs to fund your lifestyle (3:00) • Warning Sign #2: You’re focused on attaining a certain net worth or account balance (5:37) • Warning Sign #3: Your mental image of retirement is based on what your parents had (7:23) • Warning Sign #4: You get worked up about current events because of the impact you feel that they have on your portfolio (11:07) • Nancy shares an analogy about comprehensive planning and balancing short and long-term goals and plans (12:57) • What are “Next Chapter Advisors”? (18:05) When the warning light pops up on your dashboard, sometimes you know what needs to be fixed. Other times, you have to consult a professional to know what the problem is and how to fix it. It’s the same thing in your financial life. Sometimes you’ll know the major areas where you need to improve, but a lot of times you’ll want a pro to help guide you and show you the way. If that’s the case, we’re always here to help, so don’t hesitate to reach out if you have any questions. Contact The Office 480-632-8770   Schedule A Visit https://bit.ly/3V4xihj   For more, visit us online https://www.flemingfinancialservices.com/
Ep 388: Retirement Law Changes for 2023 (Part 1)
Jan 12 2023
Ep 388: Retirement Law Changes for 2023 (Part 1)
Another round of retirement changes are on the way after President Biden signed a spending bill in December 2022 that included the SECURE Act 2.0. Retirees and pre-retirees need to understand what this legislation means, how it might impact you, and what planning opportunities this could open up. With a significant number of changes beginning this year and next, we’re going to break the discussion up into two parts. In this first episode, Nancy will lay out the details for RMDs and the new age requirements. The rules will impact both account holders and spouses, and we’ll lay that out for you. Plus, she’ll tell you about a big change to the 529 plan that will allow people to move money to a Roth. There are some specific rules you’ll need to follow to qualify, but it’s great to have that possibility down the road. It will be another busy year for retirement planning so make sure you check in with your advisor to see what adjustments you’ll need to make based on this new legislation. Here’s some of what you’ll learn on this episode: The rules have changed for what age you have to take out Required Minimum Distributions. (2:32)How these new rules will impact spouses. (8:23)Changes to 529 plans will allow people to move that money to a Roth…with some qualifications. (12:31)Catch-up contributions increase for the upcoming year. (19:37)   Contact The Office 480-632-8770   Schedule A Visit https://bit.ly/3V4xihj   For more, visit us online https://www.flemingfinancialservices.com/