Tag: Retirement Planning

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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

 

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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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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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Avoiding The Common Mistakes People Make After Receiving A Raise With Samantha Pietruszynski PT. 2 (Ep. 98)

Avoiding The Common Mistakes People Make After Receiving A Raise With Samantha Pietruszynski PT. 2 (Ep. 98)

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Salary increases are great, but not increasing your savings after one could be hurting you.

So what are some of the steps you should take after receiving a raise?

This is part two of our two-part episode with Samantha Pietruszynski! Samantha discusses the importance of reallocating your money once you receive a raise so you can look forward to a fulfilling retirement experience!

Samantha discusses:

  • How to get to your financial ‘freedom point’ faster
  • How to allocate your finances after you receive a raise or an influx in income
  • How to avoid the common mistake of spending more just because you make more
  • Some personal stories about how she has fell victim to the “make more, spend more” cycle
  • And more

Resources: 

Connect With Tim Scannell:

Connect With Samantha Pietruszynski:

About Our Guest:

Samantha Pietruszynski is a Wealth Advisor at Hightower Great Lakes, where she positively impacts clients and their families both emotionally and financially by putting personalized plans in place to promote security. She helps clients feel empowered with the financial confidence and resources they need to achieve financial independence.

Samantha earned her Bachelor of the Arts degree in Finance and Accounting from the Francis J. Noonan School of Business at Loras College and was a member of the Loras College Advisory council for their Financial Planning Program. She is a CERTIFIED FINANCIAL PLANNER™ practitioner and also holds her Series 7, 66, life & health insurance licenses.

She is originally from Mokena, IL. She is a sports enthusiast and enjoys playing tennis. When she is not cheering on my favorite sports team, the Chicago Bulls, she enjoys spending time with her black cat, Mr. Binx, and her dog, Remington (Remi).

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How to Minimize Taxes In Your Retirement With Samantha Pietruszynski Part 1 (Ep. 97)

How to Minimize Taxes In Your Retirement With Samantha Pietruszynski Part 1 (Ep. 97)

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You’ve worked hard to create the retirement of your dreams, but if you don’t know the right strategies to minimize your taxes in retirement, you might not be as well-off as you think.

So, how can you maximize the amount of money you keep in retirement?

In this episode, fellow Financial Advisor at Hightower, Samantha Pietruszynski, is on the show to explain some of the ways you can maximize your wealth in retirement through tax loss harvesting.

Samantha discusses:

  • Year-end estate planning and how you can make it a top priority during the holiday season
  • Some strategies around tax loss harvesting/minimizing taxes in retirement
  • What questions you should be asking your advisor about maximizing your wealth in retirement
  • How to consider Medicare insurance in your financial plan
  • And more

Resources: 

Benchstrength Coaching 

Connect With Tim Scannell:

tscannell@scannellwealth.com
Hightower Great Lakes
LinkedIn: Tim Scannell
Twitter: Tim Scannell
(219) 531-4941

Connect With Samantha Pietruszynski:

LinkedIn: Samantha Pietruszynski
Call Samantha: 219-246-5709
Email Samantha: spietruszynski@hightoweradvisors.com 

About Our Guest:

Samantha Pietruszynski is a Wealth Advisor at Hightower Great Lakes, where she positively impacts clients and their families both emotionally and financially by putting personalized plans in place to promote security. She helps clients feel empowered with the financial confidence and resources they need to achieve financial independence.
Samantha earned her Bachelor of the Arts degree in Finance and Accounting from the Francis J. Noonan School of Business at Loras College and was a member of the Loras College Advisory council for their Financial Planning Program. She is a CERTIFIED FINANCIAL PLANNER™ practitioner and also holds her Series 7, 66, life & health insurance licenses.

She is originally from Mokena, IL. She is a sports enthusiast and enjoys playing tennis. When she is not cheering on my favorite sports team, the Chicago Bulls, she enjoys spending time with her black cat, Mr. Binx and her dog, Remington (Remi).

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Discovering Your Money Personality (EP. 93)

Discovering Your Money Personality (EP. 93)

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Everyone handles their money differently and everyone has different priorities with their money.

These are called “money personalities”.

In this episode, Tim Scannell discusses how to discover and focus on what is important to you with your money by highlighting the different money personalities he has worked with in his career.

Tim discusses:

  • Money personalities – how to focus on what is important to you about money 
  • What questions he asks people to discover what money personality they possess
  • How he helps people identify what they can and cannot control within their finances
  • The power of focus and how it affects your success when working with a financial advisor
  • And more

Resources: 

Previous Episode: So You Want To Be a Consultant? (Ep.92)

Connect With Tim Scannell:



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73. Five Key Financial Concerns for The Wealthy

73. Five Key Financial Concerns for The Wealthy

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Many people share similar concerns about their finances, like ensuring you have enough money to meet all your monthly needs, and ensuring you have enough money to retire comfortably. But what about the wealthy? Are there specific financial concerns that only pertain to them?

In this episode, Tim Scannell looks at five financial concerns he regularly hears people are concerned about. Tim discusses wealth preservation, wealth enhancement, wealth transfer, wealth protection, and giving to charity as key concerns for the wealthy, and shares his insight about how to approach each concern.

Tim discusses:

  • Why “wealth” is more than just the amount of money in your bank account
  • Why clients are so concerned about wealth transfer
  • Why, as a business owner, you need to be concerned about wealth protection
  • How you can create a more impactful gift to charity
  • And more

Resources:

62. How to Minimize the Tax Impact of Your Business Sale

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