Category: Financial Advisor

FEATURE
Managing Your Cashflow & Setting SMART Goals (Ep. 14)

Managing Your Cashflow & Setting SMART Goals (Ep. 14)

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Cashflow management may sound intimidating, but it is simply knowing where you spend and how to make sure you spend wisely.

Join David as he talks about why budgeting and cash flow management are important, especially in retirement. He highlights the necessity of understanding where money is coming from and where it’s going and provides tips on tracking expenses and income. He also discusses the challenges of variable income and the stress often associated with holiday spending. Gain insight as he shares personal examples of helping his family with budgeting, emphasizing the need to differentiate between wants and needs. He also suggests using tools like Mint and setting SMART financial goals. 

David discusses: 

  • The importance of budgeting and cash flow management in retirement
  • Tips on tracking expenses and income
  • Personal experiences with budgeting and cash flow management
  • How to analyze expenses and areas to cut back
  • Setting SMART goals for savings and investments
  • And more

Resources:

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Insurance Strategies for Retirement with Caleb Vaughan, CFP® (Ep.13)

Insurance Strategies for Retirement with Caleb Vaughan, CFP® (Ep.13)

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Protecting your loved ones comes in many forms, and setting aside the right financial resources for yourself in your retirement is one of them!

In this episode, David Koren invites Caleb Vaughan, Financial Planning Strategist at RVA Wealth Management, onto the show to discuss risk mitigation and insurance in retirement. Together they highlight the importance of various types of insurance, including disability income insurance, life insurance, health insurance, and property and casualty coverage. 

Caleb provides insights into the cost of health insurance and Medicare, and the role of life insurance in estate planning. The discussion also covers the challenges and alternatives of long-term care insurance. 

David & Caleb discuss: 

  • The various types of insurance you need to consider investing in for retirement
  • How to strategically save for health insurance and Medicare
  • Factors to consider for long-term care, in-home or in an assisted living facility
  • How a financial planner can make these processes seamless for you and your family
  • And more

Connect with David Koren: 

Connect with Caleb Vaughan:

About Our Guest: 

Caleb is a CFP® and brings with him a wealth of financial planning knowledge to the firm. Caleb specializes in developing creative solutions for our clients’ most complex problems. Caleb was attracted to RVA Wealth Management because of the firm’s focus on delivering an engaging, highly personalized client experience and its commitment to the highest standard of integrity.
Originally from Mechanicsville, Virginia, Caleb obtained his B.S. from Virginia Tech and spent nearly 6 years serving clients at a prominent wealth management firm in Greensboro, North Carolina. Caleb and his wife Jenny decided to move back home to be closer to family after the birth of their second daughter.

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Common Investment Risks with Michael P. Smith (Ep.12)

Common Investment Risks with Michael P. Smith (Ep.12)

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Can investments be both growth-oriented and risk-averse?

In the latest episode of Unleash Your Retirement, David Koren is joined once again by Michael P. Smith to close out their 3-part investment series. This episode will help you uncover the balance between seeking growth and minimizing risk in your investment portfolio.

Their conversation offers a wealth of insights, including:

  • Decoding risks in investments from company troubles to market trends
  • Why spreading your investments is crucial
  • Growth tactics for the young investor: high gains with calculated risks
  • Financial prep for retirees: managing money for life’s surprises
  • Tackling inflation and investment ties: strategic planning essentials
  • Going global: using “bond ladders” for smarter international investments
  • Modern portfolio theory: custom-fit your investment comfort level
  • And much more!

Resources:

Connect with David Koren: 

Connect with Michael P. Smith:

 

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How To Secure Your Retirement with Michael P. Smith (Ep. 11)

How To Secure Your Retirement with Michael P. Smith (Ep. 11)

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Lost in the maze of Annuities, Mutual Funds, and ETFs?

Let us simplify it for you.

While visions of a relaxed retirement dance in your head, the journey there requires careful planning. Navigate the nuances with David Koren of RVA Wealth Management as he teams up with Mike P. Smith to unravel the complexities of the investment world.

Throughout the episode, David and Mike unpack:

  • What are the hidden pitfalls and surprising perks of mutual funds? 
  • How intricate layers, tax traps, and a pro’s advice could be a game-changer for your employee stock options
  • Why everyone is talking about ETFs and how they might be giving mutual funds a run for their money
  • How a finance pro can pivot your tax strategies and navigate the quirkiest of investment scenarios
  • And more!

Resources:

Connect with David Koren: 

Connect with Michael P. Smith:

About Our Guest: 

Michael P. Smith is a Certified Financial Planner with over 20 years of experience and a Portfolio Manager at RVA Wealth Management. Starting his career on the Boston Stock Exchange, Mike is a professional in turning retirement worries into well-laid plans. He’s not just a financial guide but a guardian of your future, adhering to the highest ethical standards. With RVA Wealth Management, Mike is all about active communication and customized investment strategies. Off the clock, he’s a family man and community leader, deeply rooted in sports and local organizations.

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Investing In Stocks and Bonds with Michael P. Smith (Ep. 10)

Investing In Stocks and Bonds with Michael P. Smith (Ep. 10)

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Investing in stocks and bonds can be a battle of risk and reward if you don’t know what you’re doing.

That’s why we’re here to help.

David welcomes back his fellow colleague Michael P. Smith to continue their conversation about investing. They narrow their conversation from retirement investing to investing in stocks and bonds. With a background in the stock exchange, Mike explains the concept of bond pricing and yield, the importance of understanding bond ratings, and the impact of interest rate changes on bond values. David and Mike also compare stocks and bonds as investment options, highlighting the risks and potential returns of each.

David and Michael go over: 

  • Understanding bond pricing and yield
  • What Bond laddering is
  • The importance of understanding bond ratings and their indication of risk profile
  • A comparison between stocks and bonds as investment options, highlighting the safety of bonds and the potential for long-term growth in stocks
  • The importance of seeking professional advice when it comes to investing, and how an advisor can help
  • And more

Resources:

Connect with David Koren: 

Connect with Michael P. Smith:

About our Guest: 

Michael P. Smith is a Certified Financial Planner with over 20 years of experience and a Portfolio Manager at RVA Wealth Management. Starting his career on the Boston Stock Exchange, Mike is a professional in turning retirement worries into well-laid plans. He’s not just a financial guide but a guardian of your future, adhering to the highest ethical standards. With RVA Wealth Management, Mike is all about active communication and customized investment strategies. Off the clock, he’s a family man and community leader, deeply rooted in sports and local organizations.

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Retirement Investing 101 with Michael P. Smith (Ep. 9)

Retirement Investing 101 with Michael P. Smith (Ep. 9)

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Stressed about planning for your retirement? 

You’re not alone.

Join host David Koren and his fellow colleague Michael P. Smith as they share actionable investment and retirement strategies designed to ease your anxieties. Together they break down investing options, how to navigate your time horizon, and the importance of different revenue streams.

Throughout the episode, David and Michael cover:

  • Why having a clear vision for your retirement is a necessity
  • How you can best maximize your 401(k) for your retirement
  • The pros and cons of loaning versus owning 
  • How to measure your risk tolerance against your risk capacity
  • And more!

Resources:

Connect with David Koren: 

Connect with Michael P. Smith:

About Our Guest: 

Michael P. Smith is a Certified Financial Planner with over 20 years of experience and a Portfolio Manager at RVA Wealth Management. Starting his career on the Boston Stock Exchange, Mike is a professional in turning retirement worries into well-laid plans. He’s not just a financial guide but a guardian of your future, adhering to the highest ethical standards. With RVA Wealth Management, Mike is all about active communication and customized investment strategies. Off the clock, he’s a family man and community leader, deeply rooted in sports and local organizations. 

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Building Wealth Beyond Your Working Years (Ep. 8)

Building Wealth Beyond Your Working Years (Ep. 8)

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Where will your money come from when the 9-to-5 ends?

If you’ve ever asked yourself this question, then this episode is for you!

Listen as David Koren from RVA Wealth Management arms you with strategies to diversify your income sources, ensuring you can fully enjoy your golden years. From understanding the ins and outs of IRAs and Roth IRAs to alternative income streams, this episode is a comprehensive guide to your financial future. Don’t leave your retirement to chance; secure your future now!

In this episode, David covers:

  • The A-Z of Individual Retirement Accounts (IRA) and Roth IRAs, including tax benefits and limitations
  • Alternative income streams such as Rental Real Estate, Part-time Work, and Inheritance, along with their pros and cons
  • The crucial details about Social Security: when to start and how to optimize your benefits
  • Actionable tips to fill your “income buckets” for a diversified and secure financial future
  • And more!

Ready for a worry-free retirement? Reach out to David for a complimentary consultation and start planning today!

Resources:

Connect with David Koren: 

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Retirement Income Sources: Employer-Sponsored Plans (Ep.7)

Retirement Income Sources: Employer-Sponsored Plans (Ep.7)

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What are the most important things you need to know about employer-sponsored retirement plans?

In this episode, David Koren talks about employer-sponsored retirement plans, focusing on defined benefit plans and defined contribution plans. He explains how these plans work, the investment responsibility, and the options for taking money out. David also touches on the history of pension plans and the government’s role in insuring them. He also covers options for handling money in a 401(k) plan after retirement, including leaving it in the plan, rolling it into a self-directed IRA, or converting it into a stream of income.

David discusses: 

  • What defined benefit plans and defined contribution plans are
  • Where the investment responsibility is placed for each plan and what options are available for taking money out
  • Different options for handling money in a 401(k) plan after retirement or changing jobs
  • The benefits of rolling over a 401(k) into a self-directed IRA
  • The advantages of a Roth IRA and the flexibility it offers
  • And more

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The Truth About Taxes in Retirement with Cheri David (Ep. 6)

The Truth About Taxes in Retirement with Cheri David (Ep. 6)

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Do you need to be concerned about taxes in retirement?

Many people think that they will not have to pay tax on their Social Security or deal with taxes at all when they’re no longer working.

But required minimum distributions are taxed as ordinary income and can push many into higher tax brackets and up to 85% of your social security benefits will be taxed based on your adjusted gross income.

In this episode, David Koren speaks with Cheri David, CPA, CVA, Managing Partner and Principal at Clarkson David CPA, about taxes in retirement. While covering topics such as required minimum distributions, the taxation of social security benefits, Roth conversions, adjusted gross income, and deductions, they emphasize the benefits of working with a CPA to maximize take-home pay and reduce tax bills. They also discuss the advantages of health savings accounts (HSAs) and flexible spending accounts (FSAs) for tax planning.

David and Cheri discuss: 

  • What adjusted gross income is and why it’s important
  • The difference between standard deductions and itemized deductions
  • Ways to reduce your tax burden
  • And more

Resources:

Connect with David Koren: 

Connect with Cheri David:

About Our Guest: 

Cheri G. David, CPA, CVA is Managing Partner and Principal at Clarkson David CPA. Cheri founded the firm in 2005 on the principles of work-life balance. Business owners are continuously faced with ever-changing tax laws and regulatory paperwork. Helping business owners find relief and recognize areas between managing a business and managing their time is a foundation for that balance. Before entering the accounting profession over a decade ago, Cheri worked as a paralegal in Southern California and Las Vegas, Nevada, while attending college. During her 10 years in the legal profession, she worked with a few of the nation’s top trial lawyers who were involved in many high-profile cases. Her combined career paths offer business owners a diverse level of experience and perspective. Cheri’s family includes four amazing children; Riggs, Tucker, Matthew, and Graciella. There is never a dull moment as all of the children bring a special gift to the family. A passion to run led Cheri to finish her first Marathon in 2009, thereafter, finishing 3 more including the world-famous New York City Marathon in 2016. She continues to run and looks forward to the next race.

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