In the realm of personal finance, there's no shortage of advice- some of it good, some of it not so much. Being a good advisor isn’t about winning a popularity contest or just saying the same things that everyone else in the industry says. It’s about giving the best advice that you can for each individual situation. Let’s discuss some areas where Mark’s opinions might not be popular with other people in the financial industry...   Here’s what we discuss in today’s show: The appropriate amount of risk for a retiree or pre-retiree The appropriate use of life insurance How to handle debt Wh ..read more

A recent study revealed that 19% of Americans over the age of 65 are still working, which is twice as high as it was 30 years ago. Today, we’ll explore some of the reasons behind this statistic.   Here’s what we discuss in today’s show:  Some people truly love their job A divorce can force someone into working longer than they originally planned Waiting for Social Security full retirement age Some people simply haven’t saved enough   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman-associates.com Phone: 520.512.8832 520.618 ..read more

In this episode of Saving With Silverman, we delve into the nuanced world of financial risk. Join Mark Silverman, CFP® and founder of Silverman & Associates, as he unpacks the complexities of risk tolerance in investing. Whether you're a thrill-seeker in the market or prefer a more cautious approach, understanding the risk you're comfortable with is crucial to achieving your financial goals. Mark emphasizes the importance of understanding not just how much risk you're taking, but also how much you should be taking to stay on track for your objectives. You’ll learn about the pitfalls of cha ..read more

We like to approach financial conversations from a creative angle here on the show. So, in today’s episode, we’re exploring the timeless wisdom of past presidents. Join Mark as he takes five famous quotes from influential figures such as George Washington and Ronald Reagan and shares how their wisdom applies to financial planning.   Here are the quotes we discuss in today’s show: “When only one side of a story is heard and often repeated, the human mind becomes impressed with it.” “Ask not what your country can do for you, ask what you can do for your country.” “Think about every problem ..read more

Does retirement planning sometimes sound like Greek to you? Turns out, that's not always a bad thing. Join us as we take a step back in time and explore the timeless wisdom of Aristotle in today’s episode.   Here are the quotes we discuss in today’s show: “It is the mark of an educated mind to be able to entertain a thought without accepting it.” “Quality is not an act. It is a habit.” "The aim of the wise is not to secure pleasure, but to avoid pain." “Well begun is half done.”   Want to get in touch with Mark?  Web: https://silverman-associates.com/home Email: mark@silverman ..read more

Welcome back to the Saving with Silverman podcast! In today’s episode, Mark is going to answer some mailbag questions sent in by listeners like you. These episodes are a great way for you to learn from real-life financial scenarios while gaining valuable insights into managing your finances effectively.   Here are the questions we cover in today’s show: “Is financial expense insurance worth buying?” “I have to start taking RMDs next year. Should I take these withdrawals in monthly installments or one big withdrawal at the end of the year?” “How much tax should I expect to pay on my decea ..read more

In today’s episode, we’re going to cover some signs of good financial health. Listen in as Mark covers four essential areas that lay the foundation for a secure retirement. We’ll chat about the importance of spending less than you make, understanding the future tax implications of your savings, crafting a comprehensive retirement income plan, and more.   Here are the signs of good financial health that we’ll chat about: You spend less than you make You understand the future tax implications of your savings Both you and your spouse both understand your retirement plan and are prepared for ..read more

Ever wondered when the next market crash will hit? Or what healthcare costs will look like 20 years from now? Unfortunately, these are questions that none of us have a crystal ball for. So, when it comes to financial planning, how can we be best prepared for the unexpected?   Here are the questions that we chat about in today’s episode: “When is the next market crash going to happen?” “What will healthcare costs look like 20 years from now?” “What will the tax rates be three presidents from now?” “How long am I going to live?”   Want to get in touch with Mark?  Web: https://si ..read more

When you break it down to the most basic level, there are really three worlds of money that we utilize for financial planning: banking, insurance, and Wall Street. Each of these worlds has a distinct purpose and role in helping you prepare for retirement. Let’s talk about the pros and cons of each and how we use them to design a portfolio.   Here’s some of what we’ll discuss in this episode: The banking world is great for savings and low risk, but it limits your opportunity for growth.   Why we don’t look at insurance as an investment and what do we use this for. The Wall Street wor ..read more

Nearly everyone we know has seen the movie Forrest Gump, which hit movie theaters nearly 30 years ago. That’s really hard to believe, but it’s a film that still holds up today. Forrest might have been slow-witted, but it’s hard to find a more inspirational character. Believe it or not, there are even financial lessons we can glean from the movie and we’ll share those today.    Here’s some of what we’ll discuss in this episode: Why you need to have a plan that’s able to adjust as life changes. An example of someone who had a life circumstance that completely changed their plans. We c ..read more