Evaluate Risk and Return to Protect Against Inflation in Your Portfolio

Economic Realities was created to bring industry experts together to benefit financial advisors and individuals seeking to improve their financial outcomes.

In today’s episode, Chris Battaglia welcomes back economist and author of “Money Magic: an Economist’s Secrets to More Money, Less Risk & Better Outcomes”, Larry Kotlikoff, to discuss interest rate protection strategies and products investors may want to consider.

Specific strategies they discuss include:

  • Alternatives to investing in the stock market to protect against interest rates and taxes, including Treasury Inflation-Protected Securities (TIPS)
  • How Larry thinks about the percentage allocation to inflation protected strategy by TIPS
  • The importance of balancing risks in investment strategies, particularly between TIPs and Social Security income
  • How to weigh the risk of different products inside your portfolio

Resources: Maxifi

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Conversations About Longevity Planning and Preparing for the Unexpected with Steve Gresham

This may be one of the most important interviews we’ve done since the inception of Top Advisor Podcast.

The very best advisors know that their job is more than managing investments or selling insurance.  The very best advisors are increasingly focused on Longevity Planning for the Baby Boomer clients.

These advisors prioritize building strong, meaningful connections with their clients, getting to know their individual life stories, and providing guidance through critical life-changing events.

In this episode, Referral Coach Bill Cates and Steve Gresham delve into the fascinating world of longevity planning and the importance of being prepared for unexpected events. As advisors, it’s crucial for us to anticipate these events and help our clients navigate through them with expertise and care.

You’ll hear real-life examples of advisors who have let their clients down in this area as well as examples of advisors who showed up big time for their clients.

But it doesn’t stop there. Bill and Steve explore the growing demographic wave of older individuals and the unique challenges they face. Longevity planning is not something to be taken lightly.

Steve Gresham & Bill Cates discuss:

  • The concept of “family conversation” and why it is important for advisors to have the courage to engage with their clients.
  • The 7 moments that matter in a client’s life AND the 7 phone calls every advisor should be prepared to receive.
  • Why clients may hesitate to share personal health information with their advisors due to concerns about empathy and a safe space.
  • The life events that may be a surprise to clients – but not to their advisors – who should be prepared and experienced in dealing with them.
  • How financial advisors can ensure that they are addressing the concerns and needs of aging clients, even if the clients may feel hesitant to share personal health information.
  • What longevity planning is, and key issues to consider when creating a longevity plan for clients.
  • Stories of success and failure in longevity planning.
  • … And so much more!

As always, this episode is packed with valuable information and practical strategies for financial advisors to better serve their clients. So, get ready to learn the secrets to success in the world of longevity planning as we dive into an engaging conversation with Steve Gresham.

https://media.blubrry.com/topadvisorpodcast/content.blubrry.com/topadvisorpodcast/TAP_Ep_48.mp3

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Moments That Matter: The Default Caregiver With Steve and Phyllis Gresham

In this podcast, Steve Gresham, the Managing Principal of NextChapter and the Senior Education Advisor with the Alliance of Lifetime Income, is joined by his mother, Phyllis Gresham, for a special episode on the role as the default caregiver. Steve and Phyllis delve into the intricacies of caregiving, sharing personal anecdotes, financial challenges, and reflections on aging while highlighting the importance of planning for the future.

They also discussed:

  • The advocacy and caregiver role in long-term care and the challenges that follow, especially for women.
  • Dealing with care for elderly relatives with cognitive issues.
  • The importance of planning and communication in caregiving and finances.
  • The need for advisors to discuss potential constraints and scenarios with clients.
  • The self-centered focus older individuals tend to have, not interested in others’ experiences.
  • Addressing devastating diagnoses and the challenges of treatment decisions
  • Phyllis’s reflections on her own aging process and how she chooses meaningful activities.

Resources: NextChapter | Alliance for Lifetime Income

https://media.blubrry.com/poweryouradvicepodcast/ins.blubrry.com/poweryouradvicepodcast/PYA_EP_177.mp3

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Moments That Matter: Unexpected Health Events With Steve and Phyllis Gresham

In this podcast, Steve Gresham, the Managing Principal of NextChapter and the Senior Education Advisor with the Alliance of Lifetime Income, is joined by his mother, Phyllis Gresham, for a special episode on unexpected medical events. The duo explores the challenges, lessons, and need for preparedness surrounding caregiving, long-term care, and the inevitable health changes that come with age.

They also discussed:

  • Challenges advisors face when clients experience unexpected medical events.
  • The effects of chronic health issues gradually impacting daily life.
  • The transition to a sudden and drastic change in health, leading to a need for external help and medical intervention.
  • Acknowledgment of complex medical considerations for treatment and care, considering age and cognitive issues.
  • The need for preparation and decision-making when facing retirement and potential health issues, including the consideration of long-term care facilities.
  • Advocacy and involvement of family members in ensuring quality care in long-term care facilities.
  • The lack of awareness and understanding among people regarding their roles in long-term care situations.
  • Addressing the gender disparity in longevity and how it impacts retirement planning.

Resources: NextChapter | Alliance for Lifetime Income

https://media.blubrry.com/poweryouradvicepodcast/ins.blubrry.com/poweryouradvicepodcast/PYA_EP_176_2_.mp3

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Moments That Matter: Aging in Place with Steve and Phyllis Gresham

In this podcast, Steve Gresham, the Managing Principal of NextChapter and the Senior Education Advisor with the Alliance of Lifetime Income, is joined by his mother, Phyllis Gresham, for a special episode on aging in place. The two discuss the importance of planning ahead for the vulnerable later years of one’s life; highlighting necessary arrangements for home maintenance and health maintenance to secure a stable future.

They also discussed:

  • Impact of unexpected events, such as natural disasters like hurricanes, on the feasibility of aging in place.
  • The consideration of other living options, such as a continuous care retirement facility, and the significance of making such decisions early.
  • Exploration of the concept of retirement stages, including the “gogo” phase characterized by active pursuits and the challenges that come with shifting physical and mental abilities.
  • Importance of having a support system and family discussions when planning for aging and considering the transitions.
  • Advisor’s role in initiating conversations about safety, preparedness, and realistic expectations for retirement.
  • Highlighting the need for individuals to address potential risks in their homes, such as falls, and the implementation of safety measures.
  • Encouragement for advisors to ask probing questions about clients’ plans and preparations for aging in place, facilitating a gradual and easier transition.

Resources: NextChapter | Alliance for Lifetime Income

https://media.blubrry.com/poweryouradvicepodcast/ins.blubrry.com/poweryouradvicepodcast/PYA_EP_175.mp3

by ncadmin