Tag: Retirement

FEATURE
The Role Your Financial Advisor Plays in Managing Your Wealth (Ep. 17)

The Role Your Financial Advisor Plays in Managing Your Wealth (Ep. 17)

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Considering getting a financial advisor but don’t know if it’s worth it? 

We feel like we’re family here at RVA Wealth, and when a client comes in, we become a part of their family too, and that’s a very important aspect of being an effective wealth manager.

This week on Unleash Your Retirement, David Koren and Michael P. Smith, CFP®, discuss financial advisors’ important role in wealth management. They explore the importance of establishing a strong, long-term relationship with clients, and discuss complex issues such as estate planning and assisted living. They emphasize proactive planning to help avoid probate, the benefits of comprehensive financial planning, and the importance of working with a fiduciary consultant to help clients and their families manage their wealth.

David and Michael discuss: 

  • The role of financial advisors in wealth management
  • How financial advisors become an extension of their client’s families
  • What probate is and how proactive financial planning could help you avoid it
  • Their personal anecdotes and experiences in financial planning
  • And more

Resources:

Connect with David Koren: 

Connect with Michael P. Smith:

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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:

Connect with David Koren: 

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How Much Money Do I Need To Have To Retire? (Ep. 5)

How Much Money Do I Need To Have To Retire? (Ep. 5)

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Is there a way to know if you’ve saved enough money to retire? 

Very few people actually do the work to figure out if they will have enough money, and then when it comes time to say goodbye to the 9 to 5, they find out that they don’t have enough, and panic ensues.

Let’s make sure you are prepared to retire comfortably!

In this episode, David Koren, MBA, ChFC®, CLU® talks about how to calculate the money you need to retire, the necessary steps of figuring out how much you currently spend, setting a realistic date for your retirement, and estimating potential expenses combined with inflation.

David discusses: 

  • Why you may not spend as much money in retirement as you do now
  • How to adjust your estimated “expense number” for retirement and inflation
  • The different income sources you can use to supplement your retirement savings
  • And more

Resources:

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Will My Money Last Throughout My Retirement? (Ep.4)

Will My Money Last Throughout My Retirement? (Ep.4)

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Will you be able to retire once you turn 75? 

Many people think they’ll have to work longer than they want to so that they continue to have a source of income.

In this episode, David Koren, founder of RVA Wealth Management gives a birds-eye view of determining if your money will last throughout your retirement. Listen as he addresses some of the most commonly asked questions and covers the key considerations you should evaluate in order to prepare for retirement.

David discusses: 

  • How to determine if your money will last throughout retirement
  • The disparity between when people think they will retire and when they actually retire
  • How long to plan for and considerations such as inflation and taxes
  • The importance of considering your lifestyle and understanding your spending habits
  • And more

Resources:

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Personal Finance On Steroids, Part 1: Retirement (Ep. 3)

Personal Finance On Steroids, Part 1: Retirement (Ep. 3)

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Whether you’re 25 or 50, it’s never too early to start thinking about what your dream retirement looks like.

In this episode, David Koren, Founder, Wealth Manager, MBA, ChFC®, CLU® at RVA Wealth kicks off the Personal Finance On Steroids series with a conversation about how you can best plan for your retirement. He explains why it’s important to define your dream retirement before you start planning, how to determine when you can retire, how long you should plan for, and how you can safely withdraw from your investments while enjoying all that retirement has to offer.

Join David as he discusses: 

  • Defining what retirement looks like to you
  • How to determine when you should retire
  • How to safely withdraw money from your investments in retirement
  • What the 4% rule is
  • And more

Resources:

Connect with David Koren: 

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The Value of a Fiduciary with Caleb Vaughan, CFP® (Ep.2)

The Value of a Fiduciary with Caleb Vaughan, CFP® (Ep.2)

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How can you be sure your financial advisor will keep your best interests in mind when planning your financial future?

In this episode, David Koren is joined by his RVA Wealth Management colleague, Caleb Vaughan, CFP® to discuss their firm’s planning process and how they help clients build their portfolios. Listen in as they highlight the value of a fiduciary advisor, and how to best find the right advisor for you.

Caleb and David discuss: 

  • Why you should interview your advisor (Remember: YOU are hiring THEM!)
  • How to tell if an advisor is right for you and your needs
  • The value a fiduciary brings to your life and financial future
  • Unique strategies that RVA implements to support their client’s financial plans
  • The dangers of “just figuring it out” on your own–why financial advisors are an investment in themselves
  • And more

Resources:

Connect with David Koren: 

Connect with Caleb Vaughan, CFP®:

About Caleb Vaughan, CFP®:

Caleb Vaughan is an experienced financial planner at RVA Wealth Management focused on addressing the needs and concerns of families and individuals. David Koren said “Caleb has “really taken our firm to another level.” 

Caleb earned his Bachelor of Science (B.S.), Finance, and CFA & CFP® Tracks from Virginia Tech’s Pamplin College of Business in 2013 making him one of the younger advisors at RVA!

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