69. Q&A on Financial Planning

By thelifebydesignpodcast | March 30, 2022

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If you are just starting your financial planning or preparing for retirement, there are always questions on what to do and how to prepare your financial future.

In this episode, Royal Standley answers some of the financial planning questions sent in by you. He dives into some of the uncertainties clients feel during the financial planning process to help you live a relaxing retirement.

Royal discusses:

When you should involve a financial advisor
How to utilize FINRA’s BrokerCheck when finding the best advisor for you
The difference between Roth IRAs and traditional IRAs
The basics of retirement planning
And more

Resources:

BrokerCheck by FINRA

Connect with Royal Standley:

Discussions in this show are for educational purposes only. The information presented should not be considered specific investment advice or a recommendation to take any particular course of action. Always consult with a financial professional regarding your personal situation before making financial decisions. The views and opinions expressed are based on current economic and market conditions and are subject to change. All investing involves risk, including the potential for loss of principal. Securities and Advisory Services offered through United Planners Financial Services, Member FINRA, SIPC. Oregon Pacific Financial Advisors and United Planners are not affiliated. United Planners and its representatives do not offer tax or legal advice.

Withdrawals from a Traditional IRA prior to age 59 ½ will be subject to ordinary income tax and may also incur a 10% penalty tax unless an exception applies.

Contributions to a Roth IRA are subject to income limitations. You may take nontaxable withdrawals from a Roth IRA if you are at least 59 ½ and the account has been held at least 5 years. Otherwise, earnings withdrawn may be subject to ordinary income tax and a 10% penalty.