Category: Uncategorized

Considering the conversion to a Roth IRA? Not sure when to do so or if it will even benefit you?

Everyone has a different situation, and the best time for someone else to convert may not be the best time for you. Garet Strange, Executive Vice President, spends time with Mike Switzer discussing the benefits of conversion and the best time to make the switch for different individuals. 

Listen to the interview here.

If you haven’t heard, there could be some changes coming soon to Roth IRAs as a result of tax changes being proposed in President Biden’s Build Back Better plan.

Mike Switzer interviews Thomas Manly, a certified financial planner with Hobbs Group Advisors in Columbia, SC.

Listen to the interview here.

After the passing of the Secure Act in 2019, there were many changes to the rules regarding the transfer of IRA’s. Find out what rules remain, and what new regulations were added. 

Mike Switzer interviews our C.O.O and Founder, Peter Pigeon, to discuss these previous and added guidelines to help you ensure you have all the pertinent information when dealing with inherited IRA’s.  

Listen to the interview here.

As record numbers of Americans continue to move into the 65+ age group, there is more and more demand for Medicare policies and advice. For someone turning 65, the choices can be very confusing.

Mike Switzer interviews Garet Strange, Certified Financial Planner®, with our team at Hobbs Group Advisors in Columbia, SC.

Listen to the interview here.

The IRA and 401k retirement accounts have been around forever, but with the Roth IRA being introduced about 24 years ago, how do you determine which retirement plan is best for you?

Please take a moment to listen to our Senior Vice President, Thomas Manly, on the South Carolina Business Review.

Thomas goes in depth with Mike to discuss the different benefits each plan has and how to determine which plan will be best suited for you.

Listen to the interview here

The Secure Act, passed at the end of 2019, had may significant benefits to business owners adopting a qualified retirement plan in 2020 and beyond. What does this mean for small business owner when the pandemic is in our rear view mirrors?

Please take a moment to listen to our COO and Founder, Peter Pigeon, on the South Carolina Business Review. 

Pete talks with Mark about the specific tax credits that small business owners should be taking advantage of. 

Listen to the interview here.

Taxes are one of the largest expenses people have, but they are often overlooked and not proactively planned for. Does that sound like you?

Please take a moment to listen to V.P. of Operations, Garet Strange, on the South Carolina Business Review. 

Garet talks with Mike Switzer about the ins and outs of year end taxing planning. If you are thinking to yourself “Where should I start with my tax planning”, this 5-minute interview is just for you!

Listen to the interview here. 

Please take a moment to listen to Associate Advisor Thomas Manly on the South Carolina Business Review.

Throughout this pandemic, much of the working population has lost their jobs and has been forced to seek new employment. Many of whom are left with the question: “What do I do with my old retirement plan?” 

Thomas talks with Mike Switzer about the various options you have regarding old retirement plans and the importance of consulting your tax professional beforehand.

You can access and listen to this interview here. 

Please take a moment to listen to our COO and Co-Founder Peter Pigeon on the South Carolina Business Review.

Have you ever noticed that your tolerance for risk may be at one level when you’re setting your goals with your financial planner, but then along comes a market downturn and suddenly you find that you might be a little more risk-averse than you thought?

Pete talks with Mike Switzer about assessing risk tolerance during unexpected downturns in the market. As a Fiduciary and Certified Financial Planner, Pete offers an objective viewpoint when his clients’ emotions take hold.    

You can access and listen to this interview here. 

Pain Stories:

 “You need to stop going to Bonefish Grill……”

I was recently hired by a new client.

She is single and currently unemployed.

Fortunately, she has enough assets to survive without a job but would certainly be better off in the long run with one.

She is torn between both whether to rent or buy a house and where she ultimately wants to live, Columbia or the coast.

She has been a client of the same Investment Advisory firm for many years and naturally went to there for advice about her predicament.

Her advisor had to bring his resident financial planner, whom my client did not know, into the discussion since he was strictly an investment advisor and did not “do financial planning” himself.

My client left the meeting in tears because they told her that she would run out of money and be destitute in the future if she did not stop eating out twice a month with her friends.

Her advisor later apologized and expressed that he thought she could afford to buy a house, but he would have to go back to his financial planner to schedule another call.

The process kept going in circles for months.

She felt belittled and talked down to every time she asked them a question.

She didn’t feel understood or appreciated.

She was so upset by the initial conversation and ongoing interactions that she felt it was time to seek a second opinion.

She was then referred to me by a friend and we proceeded to talk through it.

I explained the trade-offs she was faced with in her situation and how renting could make great financial sense in her case, especially since she is unsure about where she ultimately would like to live.

I explained that paying rent is not necessarily throwing money away since the cost of selling a home can be very expensive, not to mention time-consuming.

She understood this all too well seeing that she lost money on the recent sale of a house purchased in 2007.

This is the difference between investment only advisory shops and financial planners

She then thanked me for making her feel comfortable and not patronizing her.

I told her that should be the bare minimum expectation when working with a professional of any kind.

My job is to do the complex work in the background and explain it to you in a way that is simple.

You should never feel anxiety before or after your discussions with your advisor.

If you do, perhaps you need to make a change.

I have had and continue to have many conversations with people who describe a lingering gut feeling that “something just isn’t right” after a questionable recommendation was made by their advisor.

Perhaps you know the feeling…

Maybe the advice or service is “just OK”, but you want or feel deserving of something more.

Don’t ever settle for “just OK”.

If you are not sure you have the right plan, or planner, or just want to get a second opinion about what you are doing, click below to schedule a call with me.

Let’s have a 15 minute phone conversation and see if it makes sense to meet.