Tag: Retirement

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Important Lessons About Long-term Investing & Inflation With Michael Shea (Ep. 114)

Important Lessons About Long-term Investing & Inflation With Michael Shea (Ep. 114)

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In a world plagued by rising prices, inflation, and interest rates, you can’t help but wonder: How will these factors impact the stock market and our financial stability?

In this episode, Tim Scannell introduces Michael Shea, the Managing Director of the Investment Solutions Group at Hightower. Michael shares his investment style focused on value and capturing dividend flow, the importance of managing against benchmarks, and staying current with market information. 

Learn about Michael’s views on inflation and its impact on financial markets and how he advises clients while considering the impact of inflation and interest rates on their finances.

Michael discusses:

  • His unique stance on the impact of inflation and the current state of the markets
  • The Federal Reserve’s response to the pandemic and why he entirely disagrees with it
  • The impact of the Fed overstimulating the economy and how it contributed to the inflation we are seeing now
  • The impact of reshoring and what you can expect from this change in the future
  • And more

 

Connect With Tim Scannell:

Connect With Michael Shea:

About Our Guest:

Michael Shea is a financial advisor who works out of Park City, Utah. Shea is an employee of Hightower Advisors, LLC. Shea has gained experience at Hightower and Prudential Equity Group, LLC. Shea maintains Series 63 and Series 65 licenses, qualifying them as both a securities agent and an investment advisor representative, and is able to work in Illinois, New York and Utah.

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A Conversation About Fiduciaries With Don Stellin (Ep. 109)

A Conversation About Fiduciaries With Don Stellin (Ep. 109)

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Many financial advisors express great admiration for fiduciaries, while some undermine their significance in the financial industry and argue against their necessity.

However, by the conclusion of this episode, you will attain a thorough comprehension of fiduciaries and gain the ability to appreciate the immense value they bring to your financial planning endeavors.

In this episode, Tim Scannell invites returning guest, Don Stellin, onto the podcast to discuss the role, purpose, and value fiduciaries have in the financial planning processes of both retirees and working professionals.

Don discusses:

  • Why you need to know whether your financial advisor is a fiduciary
  • What a suitable standard is and how to know if your financial advisor’s standard is a good match with your financial values
  • The important questions your financial advisor should be asking you–and what it could mean if they aren’t asking them
  • Revenue neutrality and being brand agnostic–how to find out if your financial implements these into their business strategy
  • And more

Resources: 

Connect With Tim Scannell:

Connect With Donald Stellin AIF®:

About Our Guest:

Donald Stellin is a Financial Advisor with Hightower Great Lakes. He develops financial plans, manages investment portfolios, and works collaboratively with clients to create retirement income plans. He enjoys helping individuals, families, and business owners plan for a comfortable retirement by carefully listening to their needs and goals prior to developing a customized financial plan.

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How To Strategize Your Taxes For Maximum Benefit (Ep. 108)

How To Strategize Your Taxes For Maximum Benefit (Ep. 108)

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When someone mentions “taxes” or “tax season”, it may cause you to tense up and feel a wave of stress. 

This usually happens when people aren’t confident in their tax strategies and worry they may be losing more money than they have to.

In this episode, Tim Scannell delves into the world of tax strategies and explores some practical tips and tricks for individuals and businesses to maximize their tax savings.

Tim discusses:

  • The difference between tax deferral and permanent tax savings
  • The pros and cons of tax deferral and how to know if it’s the right choice for you
  • Tax strategies for business owners and how to maximize the amount of hard-earned money you keep and reinvest in your business
  • Some recent tax policy changes and how to find out if they affect you or your business
  • And more

Resources: 

Connect With Tim Scannell:

 

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Finding Your Lifelong Accountability Partner (Ep. 107)

Finding Your Lifelong Accountability Partner (Ep. 107)

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Lifelong relationships aren’t just created outside the workplace.

These types of relationships are created with colleagues and clients all the time!

In this episode, Tim Scannell discusses how he curates his professional relationships as well as how he helps others find and maintain meaningful relationships, including accountability partners, both in and out of the financial world.

Tim discusses:

  • The relationship he has had with a client since 1990 and how he maintains it
  • Financial accountability partners and how he helps people find theirs
  • How he helps families curate realistic college education plans
  • Tips on how to achieve those specific retirement goals you may have (like retiring on the beach!)
  • And more

Resources: 

Connect With Tim Scannell:

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Creating A Successful Exit Plan As A CEO With Scott Bening (Ep. 106)

Creating A Successful Exit Plan As A CEO With Scott Bening (Ep. 106)

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Step into the shoes of a CEO turned retiree who has made the most of his golden years! 

Join Tim Scannell as he welcomes Scott Bening, the retired CEO of Monosol, LLC and Amazon Best Selling Author, to the show. Discover how Scott expertly navigated his retirement journey and transitioned into a productive and satisfying next chapter in life. Don’t miss out on valuable insights and inspiration to plan your own successful exit strategy. 

Scott discusses:

  • How he, as a retired CEO, curated his personalized exit plan
  • How to keep yourself busy in retirement 
  • Why even CEOs can worry about their finances during retirement
  • The process of writing his book “Formulating Solutions” 
  • How the online platform “Scribe” can help you write a book too
  • And more

Resources: 

 

Connect with Tim Scannell:

Connect with Scott Bening:

About Our Guest:

Scott Bening is the recently retired CEO of Monosol, LLC. He is an Amazon Best Selling Author, President of MBS2 Advisors, LLC, and the Senior Executive Advisor at Kuraray Innovation Network Center (INC). 

Scott attended St. Lawrence University and received his Bachelor of Science there in Chemistry. Later down the road he attended the University of Illinois Chicago and received his Executive MBA.

His business, MonoSol Division of Kuraray, is a global Lean Manufacturing technology group with proven research and development capabilities and an unparalleled value proposition. They have the ability to develop new products or improve upon existing ones based on our expertise in all materials. Their team has extensive experience in working through problems that arise in business processes, material science, product design, manufacturing, and supply chain. 

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Navigating The Dreaded Tax Season (Ep. 105)

Navigating The Dreaded Tax Season (Ep. 105)

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There’s no escaping the dreaded tax season, so you might as well learn how to navigate it efficiently!

In this episode, Tim Scannell discusses some of the ways he helps people minimize their taxes during tax season. This includes tax loss harvesting, staying up to date with tax law changes, and so many more of Hightower’s wealth enhancement strategies!

Tim discusses:

  • How you can apply our wealth enhancement strategies during tax season
  • How to enhance your tax loss harvesting strategies
  • Transferring funds, real estate, and investments down to the next generation using current gift tax laws
  • Tax law changes coming or already in place for 2023
  • And more

Resources: 

Connect With Tim Scannell:

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Tackling Your Family’s Year-End Financial Plan Part 2 (Ep. 103)

Tackling Your Family’s Year-End Financial Plan Part 2 (Ep. 103)

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Are you looking for ways to ensure financial stability for yourself and your family in the upcoming year?

Now that we have discussed how to create a year-end financial plan for your business, it’s time to discuss how to make a plan for you as an individual!

In this episode, Tim Scannell highlights practical strategies for setting you and your family up for success as you enter into the new year. He covers the latest developments in the financial industry and their potential effects on decision-making, offers insight into current trends, and shares news updates to help you stay informed and make strategic financial decisions.

Tim discusses:

  • What to financially consider before switching your job position
  • How to get a better grasp on if you are in a good financial position for your age
  • What you should be looking for in an employer as a new graduate
  • Why the IRS makes most charitable contributions not deductible
  • And more

Resources: 

Connect With Tim Scannell:

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Tackling Your Year-End Financial Plan Part 1 (Ep. 102)

Tackling Your Year-End Financial Plan Part 1 (Ep. 102)

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2022 has come to a close, meaning Hightower Great Lakes has received many calls about end-of-the-year financial planning.

So what is a year-end plan and how can you create one for your business?

In this episode, Tim Scannell discusses some financial tips you should use at the end of each year and how they can help you make more informed decisions for your retirement.

Tim discusses:

  • Some of the key features of the SECURE Act 
  • Law changes that can impact business owners
  • Why 401K auto-enrollment was eliminated for many employees
  • What some employers are doing to help their employees help pay off their student loan debt
  • And more

Connect With Tim Scannell:

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How To Protect Your Wealth Through Inflation with Stephanie Link (Ep. 99)

How To Protect Your Wealth Through Inflation with Stephanie Link (Ep. 99)

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Inflation is a topic that you can’t seem to escape nowadays.

Everyone has an opinion on the topic, whether it’s the news, your relatives, or someone else.

In this episode, Stephanie Link, Chief Investment Strategist and Portfolio Manager at Hightower, joins us to help break down inflation and interest rates. We advise you to turn off your TV and listen to a trusted financial advisor about how you can combat inflation’s effects on your bank account.

Stephanie discusses:

  • Her journey of becoming the Chief Investment Strategist and Portfolio Manager at Hightower 
  • How the independent wealth management industry continues to grow
  • A deeper look into why inflation and interest rates are so high right now
  • Why you should limit your time watching the news and instead focus on listening to industry professionals
  • And more!

Connect With Tim Scannell:

Connect With Stephanie Link:

About Our Guest:

With over 27 years of experience managing money, Stephanie Link joined Hightower in June 2020 as Chief Investment Strategist and Portfolio Manager. 

Before joining Hightower, Stephanie was the Senior Managing Director and Head of Global Equities Research at Nuveen. She also served as Chief Investment Officer at TheStreet, Co-Portfolio Manager of Jim Cramer’s Charitable Trust, and Managing Director of Institutional Sales and Director of Research at Prudential Equity Group.