Tag: Roth IRA

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69. Q&A on Financial Planning

69. Q&A on Financial Planning

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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:

Connect with Royal Standley:

Advisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.

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 Otherwise, earnings withdrawn may be subject to ordinary income tax and a 10% penalty.

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SPECIAL UPDATE: COVID-19

SPECIAL UPDATE: COVID-19

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In this special episode, we share updates on how we are responding to the COVID-19 situation, how we’re assisting our clients, and what actions we’re advising investors to take during this time of uncertainty. 

Tune in now to learn how the markets are being affected and what we’re doing to help clients during this tumultuous time.

Resources: Oregon Pacific Financial Advisors Inc.

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Episode 26 – The Secrets Behind This Small Business’ Staying Power

Episode 26 – The Secrets Behind This Small Business’ Staying Power

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Reaching the 25-year mark is a tremendous feat for a small business. The silver anniversary of Oregon Pacific Advisors calls for a celebration!  

In today’s episode, Royal Standley walks down memory lane as he talks about the story of Oregon Pacific Advisors, the secrets behind their staying power, and how he predicts each generation’s planning needs will change over the next 25 years.  

In this episode, you’ll learn: 

  • The story of how three advisors joined forces to start Oregon Pacific Advisors
  • What investment strategy Oregon Pacific Advisors holds fast to during recessions
  • About Royal’s philosophy on adopting new technology
  • And more!

Tune in now to hear this small business’ secrets to standing the test of time.

Resources:

Oregon Pacific Financial Advisors, Inc.

 

Advisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.

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Episode 25 – Solving Your Retirement Puzzle – Part 2

Episode 25 – Solving Your Retirement Puzzle – Part 2

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The term “guaranteed income” sounds stuffy. But what this mini-series is really focused on is helping you consider your options for recreating your paycheck during retirement.  

In the final part of this series, Royal Standley walks you through more options for guaranteed retirement income. You will learn about money-savings pension tips, the pros and cons of different annuities, and plenty more! 

In this episode, you’ll learn: 

  • Words of caution when choosing survivorship options in a pension
  • Advantages and disadvantages to several different annuities
  • Why having an income stream from multiple sources can help you have a successful retirement
  • And more!

Tune in now to learn your options for recreating your monthly paycheck during retirement. 

Resources:

Oregon Pacific Financial Advisors, Inc.

Advisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.

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Episode 24 – Solving Your Retirement Puzzle – Part 1

Episode 24 – Solving Your Retirement Puzzle – Part 1

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Your retirement will be made up of many different pieces from social security to 401(k)s and everything in between.  Do you know how to fit them all together to make it work best for you?

In this episode, Royal Standley educates us on the many variables involved with solving the retirement puzzle.  Using client examples he walks us through how your career choices may impact your long term plans and why working with a professional can help you see the forest for the trees.  

In this episode, you’ll learn: 

  • What you should review to reach your goals
  • How sitting with a financial professional helps maximize your savings
  • How Social Security fits into your future?
  • What role traditional pensions, 401(k)s and annuities play in your retirement planning
  • And more!

Tune in now because most people retire one time, Royal and his staff have been helping people successfully retire for 25 years!

Resources:  Oregon Pacific Financial Advisors, Inc.

Advisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.

 

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Episode 23 – What The SECURE Act Means for You

Episode 23 – What The SECURE Act Means for You

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The recently approved SECURE Act has brought significant changes to the retirement system in the U.S. It’s time to explore these changes and discuss your new planning opportunities. 

In this episode, Royal Standley cracks open the SECURE Act to explain what changes are in effect and what they might mean for your retirement plan.  

In this episode, you’ll learn: 

  • How the death of the stretch IRA will impact the heirs of IRAs
  • Why Royal believes that the new RMD age opens up planning opportunities
  • Which changes to 529 plans could benefit a family with a new baby
  • How the policy behind 401(k) plans has been affected by the SECURE Act
  • And more!

Tune in now to find out what the SECURE Act has to offer you!

Resources:  Oregon Pacific Financial Advisors, Inc.

Advisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.

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Episode 22 – How to Write Your Legacy Letter

Episode 22 – How to Write Your Legacy Letter

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Have you ever considered writing a legacy letter for your loved ones? 

In this episode, Royal Standley shares client examples and his own personal example of how a meaningful legacy letter can add heartfelt value to an estate plan. After all, passing along words of appreciation, thoughts, and intentions to your loved ones will stay with them a lot longer than any amount of money ever will.

In this episode, you’ll learn: 

  • About the benefits of using a trust
  • Why it’s important to have an advanced directive or a buy/sell agreement
  • What the value and purpose of a legacy letter is
  • Recommendations on what to include in your legacy letter
  • How to file your legacy letter for safekeeping
  • And more

Tune in now and learn how to write your own legacy letter.

Resources:  Oregon Pacific Financial Advisors, Inc.

Advisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.

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Episode 21 – Transitioning into Retirement

Episode 21 – Transitioning into Retirement

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When planning for retirement, the conversations you have with your advisor may focus only on the financial side of this new life stage. Sometimes, advisors fail to communicate that there is also an emotional side of retirement that can be challenging for some people.

In this episode, Royal Standley helps you remove some of the uncertainty around this subject, and he discusses general challenges that many people experience when transitioning to this new chapter.

In this episode, you’ll learn:

  • Some ways your life might change when you’re no longer working every day
  • How you can make this shift more manageable for you
  • Activities that can help you enrich your life in retirement
  • And more!

Tune in now and explore all of the ways that you can live a fulfilling retirement.

Resources:  Oregon Pacific Financial Advisors, Inc.

Advisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.

 

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Episode 20 – How to Plan for Retirement Later in Life

Episode 20 – How to Plan for Retirement Later in Life

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There are many reasons why people start planning for retirement later in life, but what they may not realize is that achieving financial stability is still possible.

In this episode, Royal Standley explains what people in this particular situation can do to gain financial stability and help get them on the best possible path forward.

In this episode, you’ll learn:

  • Which resource could be the biggest lever for improving your financial situation
  • Options for building up your retirement savings
  • What expenses that might be hindering you from saving more for retirement
  • And more!

Tune in now and learn more about achieving your best financial situation in retirement!

Resources:  Oregon Pacific Financial Advisors, Inc.

Advisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.

 

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Episode 19 – Tips for the Recent College Grad

Episode 19 – Tips for the Recent College Grad

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Graduating from college is usually an exciting time for young people, but trying to figure out the next step can feel daunting.

In this episode, Royal Standley shares useful tips on how recent graduates can lay the right foundation early on. He discusses paying back student loans, whether to rent or buy, emergency funds, and more.

In this episode, you’ll learn:

  • The benefits and importance of exploring different career paths
  • The right mindset to have when you begin your first job after college
  • How to handle student debt effectively and avoid personal debt
  • What a personal mortgage insurance is and how it works
  • The importance of budgeting and managing housing cost
  • The different types of insurance to get
  • And more

Tune in now and learn how you can get off on the right foot after graduation!

Resources:  Oregon Pacific Financial Advisors, Inc.

Advisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.

 

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Episode 18 – Meet the Oregon Pacific family — Introducing Ron Naumann

Episode 18 – Meet the Oregon Pacific family — Introducing Ron Naumann

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Knowing your team is fundamental to achieving success. In this episode of Life By Design Podcast, we meet Ron Naumann, who has been an advisor at Oregon Pacific for 18 years.

Ron has taken his professional life on a path he never expected: He went from working as a manufacturing engineer to becoming an accomplished financial advisor. What inspired Ron to become a financial advisor?

In this episode, you’ll learn:

  • About Ron’s role at Oregon Pacific
  • Why he decided to switch careers to become a financial advisor
  • Ron’s financial philosophy and specialties
  • Why he is intrigued by Albert Einstein and how that shapes his approach with clients
  • Ron’s biggest recommendation for listeners
  • And more!

Tune in now and learn more about the Oregon Pacific family!

Resources:  Oregon Pacific Financial Advisors, Inc.

Advisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.

 

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Episode 17 – How to Recognize a Scam and Avoid Becoming a Victim

Episode 17 – How to Recognize a Scam and Avoid Becoming a Victim

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There are many types of scams and some of them are fairly sophisticated. It’s no wonder that people fall victim to scams more often than not.

For Royal Standley, prevention is the best tool against scammers. In this podcast, Royal gives you insight into the mechanisms that scammers use to get your attention and strategies you can use to avoid scams.

In this episode, you’ll learn:

  • About the most common types of scams
  • Which psychological techniques scammers use to manipulate people
  • How to recognize a scam
  • How to protect yourself from a scam
  • What actions to take if you get scammed
  • And more!

Tune in now and learn how to protect yourself against the most common scams.

Resources:  Oregon Pacific Financial Advisors, Inc.

Advisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.

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Episode 16 – Your Top Life Insurance Questions Answered

Episode 16 – Your Top Life Insurance Questions Answered

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Life insurance, with all of its moving pieces, can be a difficult concept to understand. Considering that there are different types of insurance policies to sift through, how can you make an informed decision?

In this episode of The Life By Design Podcast, Royal Standley dives deep into life insurance, explaining its true importance as part of a comprehensive financial plan. Join Royal as he tackles the complexities of life insurance and paints a much simpler picture on this sometimes undervalued financial resource.

In this episode, you’ll learn:

  • About different types of life insurance
  • What tax benefits life insurance can offer you
  • What hybrid life insurance policies are
  • How to find a reputable insurance company
  • Who should get life insurance
  • And more!

Tune in now and change your view about life insurance!

Resources:  Oregon Pacific Financial Advisors, Inc.

Advisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.

 

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Episode 12 – Let’s Talk About Your Money and Your Taxes

Episode 12 – Let’s Talk About Your Money and Your Taxes

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Money. It’s not the easiest subject to talk about or the most comfortable.

But today, you can rely on Royal Standley’s experience as he sheds more light on important subjects to help you plan for your financial future. This episode is all about understanding what different ways of gaining and saving money could mean for your tax return.

In today’s episode, you will learn:

  • About qualified and non-qualified money and how they affect your taxes
  • Whether it is possible to transfer money from an old 401(k) to a new 401(k)
  • Why Roth IRAs and Roth 401(k)s are some of the most powerful retirement-planning tools
  • Why it’s beneficial to roll money into only one or two accounts
  • About the advantages of a Roth 401(k) and a Roth 403b
  • About different types of annuities
  • And more!

Tune in now and gain clarity about money, savings, and tax time!

Resources:  Oregon Pacific Financial Advisors, Inc.

Advisory Services offered through Oregon Pacific Financial Advisors, Inc. Securities offered through United Planners Financial Services of America, Member FINRA / SIPC. Oregon Pacific Financial Advisors, Inc., and United Planners Financial Services are independent companies.