Mr. Stillman's Opus

Should You Invest Aggressively in Your IRA in Retirement?

For most people, investing strategies change as you age because you want to protect what you’ve earned rather than chasing bigger returns. But what if you have more than you’ll need for retirement in your IRA? Is that a time when being aggressive makes sense or should you still take a more conservative approach?
In this video, we’ll be answering a question we recently received with this scenario:
I’m in my 70s and it doesn’t seem that I’ll be needing any of the money in my IRA, although I do have to take RMDs each year. I know that it breaks all of the rules for someone in their 70s to be an aggressive investor, but since I don’t need the money, it’s ok if I’m aggressive, right?
Join us as John answers the questions and explains how he would work through this situation with Nina to help her get the most out of her money.

Practical Strategies for Protecting Retirees Against Scams & Fraud

As much as any other threat, recognizing and avoiding scams has become a necessary skill for today’s retirees to develop. Technology continues to evolve at a rapid pace, which makes it more and more difficult to stay on top of the latest scams. This episode will highlight the most common financial scams being used right now to help you better recognize when you’re being targeted.
Join us as we explore crucial steps you can take to safeguard your financial well-being against the growing tide of scams and identity theft. Learn from real-life stories and gain practical advice to keep your finances secure in this digital era, all from the perspective of a seasoned financial professional.
 
Here’s some of what we discuss in this episode:
0:00 – Intro
1:56 – Phishing
6:35 – Government scams
8:43 – Sweepstakes
10:30 – Grandparent scams
13:10 – Romance scams
16:00 – What to do if you fall victim
 
Connect with us:
Web: https://rosewoodwealthmanagement.com/
Phone: 919-391-3446

Should You Take the Severance & Pension Buyout?

It’s not all that uncommon to hear from someone who was given the option of a severance package and pension buyout years ahead of when they actually planned on leaving work to retire. Is it worth taking the offer and leaving your job or does it make more sense to continue working?
 
We received a question recently from someone in this situation:
I’m 60 and have been given two options at work. Keep working and retire in 5-6 years with a pension, or I can retire now and take a severance package & a pension buyout. How do I weigh my options?
More and more Americans in their 50s and 60s are being forced into an early retirement so let’s talk about how to figure out which option is going to be best for you. It can be an overwhelming decision, especially if you have to make it in 30 or 60 days, and this video will give you a few things to consider if you face this same scenario.

How do you make better financial decisions?

A common area where people struggle with their finances is simply just making decisions. It’s easy to fall into the trap of overthinking, to the point where you talk yourself into circles and fail to ever make a choice. You’ve probably heard the phrase ‘paralysis by analysis’ before but it often applies to the financial industry as well.
 
We have a scenario that we want to share and work through in this video: It seems like every time I need to make a financial decision, I just end up talking myself in circles. How do I stop doing this?
John Stillman of Rosewood Wealth Management will show you how he helps clients push through the mental hurdles that come with making money decisions and specifically address this situation. He’ll share some real-life examples of how this has played out in his office and give you the key considerations you need to think through in order to start making the tough decisions.
 
Here’s some of what we discuss in this episode:
0:00 – Intro
1:49 – Client story
5:13 – Understanding what matters
7:10 – Iterative decision making
 
Connect with us:
Web: https://rosewoodwealthmanagement.com/
Phone: 919-391-3446

Retired Early But Still Feel the Need to Earn Money

It’s not uncommon for someone to retire early but still not feel totally comfortable with the idea of not earning a consistent paycheck. It’s a complete shift in thinking and unless you’ve done solid planning, there might be a little doubt still lingering in your mind.
 
So how do you know when you have enough to retire? Better yet, how do you get the confidence to spend the money you have in retirement without the fear of running out and returning to work.
 
We have that exact scenario to work through on the show thanks to a question that we recently received. It comes from a police officer who was injured and given a medical retirement, which provides a monthly check. At age 53, they feel like they need to continue earning money because it feels too early to be retired. The issue now is finding work that pays as much as his job as an officer did so how should he approach this?
 
Listen as we tackle this specific situation but also discuss retiring early and the general planning involved.
 
Here’s some of what we discuss in this episode:
0:00 – Intro
1:32 – Questions to answer
4:58 – How much you need to make
6:14 – Client story
7:24 – How to plan for it
 
Connect with us:
Web: https://rosewoodwealthmanagement.com/
Phone: 919-391-3446

Should You Max Out Your 401k?

Are you considering maxing out your 401(k) but unsure what to do next? We face this question all the time at Rosewood Wealth Management so today we want to explore if it’s wise to max out your 401(k) before investing anywhere else, and if it is, where to look if you want to save even more.
It’s a good conversation to have early in the year as you make plans for your retirement contributions over the next 12 months. Having said that, we do understand that this is a fortunate position to be in, and not everyone will have the ability to max out their contributions this year, and that’s totally fine. We can work through strategies for different situations, but today we want to focus on those who can save at a high rate so that they’re getting the most from their investments.
 
Here’s some of what we discuss in this episode:
0:00 – Intro
1:48 – Reasons to max out your 401k
5:59 – Reasons why you wouldn’t max it out
8:11 – Roth option
10:10 – Other investment options to consider
 
Connect with us:
Web: https://rosewoodwealthmanagement.com/
Phone: 919-391-3446
Find us on YouTube: https://bit.ly/42qQ3jZ

Is Social Security Going Bankrupt?

The future of Social Security continues to be a cause for concern if you read the headlines, but should you be concerned about the reality of the program going bankrupt?
With so many retirees relying heavily on Social Security for income, there’s plenty of reason to take notice and ask the question. In this episode, we’ll help you better understand the reasons money is projected to run out sometime in the 2030s by using a triangle and hourglass analogy. John will also tell you why he doesn’t think it’ll ever run dry and list a few things that could change to maintain solvency.
 
Here’s some of what we discuss in this episode:
Explaining how the Social Security Trust Fund is structured and why we’ve had to dip into it.
How the demographics of our country have shifted over the past 50 years and what it could look like in the future.
The reasons why John is currently worried about Social Security.
Should this change your strategy for claiming?
 
Connect with us:
Web: https://rosewoodwealthmanagement.com/
Phone: 919-391-3446

When Should I Do a 401k Rollover?

Today we’re going to answer a question that a lot of people are asking when it comes to retirement planning and that’s when should you do a 401k rollover? You’ve probably heard that it’s usually best to move money out of an old 401k account, but does the timing matter?
In this episode, we’ll talk about the qualifying events that need to occur in order to give you the option for a 401k rollover. Then we’ll tell you about the four main options you have once you reach the point where you could roll the money over. Finally, let’s discuss some reasons why you would choose one of these options over another.
 
Here’s some of what we discuss in this episode:
The four options that most people have for their old 401k.
You can’t expect HR to tell you when these qualifying events occur.
Why your age plays a role in the decision.
What specific things should you discuss with your financial professional before doing a 401k rollover?
 
Connect with us:
Web: https://rosewoodwealthmanagement.com/
Phone: 919-391-3446

Estate Planning Disasters

We’re finishing up our estate planning series with Tim Nordgren, an attorney at SchellBray in Chapel Hill, with a discussion today on what could go wrong if we don’t have the main planning documents in place. Then we’ll wrap up with some of his estate planning horror stories that he’s seen through the years.
As you heard in our previous episodes with Tim, there are four main estate planning documents: the will, the durable general power of attorney, the healthcare power of attorney, and the living will. Join us as we find out what could go wrong for each of these and how he’s helped people navigate these messy situations.
 
Here are some of the things you’ll learn in this episode:
The primary thing that can go wrong with no will is you lose control over where your assets go.
Without the durable general power of attorney, someone will have to petition the court to have the incapacitated individual declared incompetent.
The two different types of court-appointed guardians.
Without a living will, you leave the person making the ultimate decision with a very tough choice.
 
Connect with us: 
Web: https://rosewoodwealthmanagement.com/
Phone: 919-391-3446

Do I Need a Trust?

We’re back once again with Tim Nordgren, an attorney at SchellBray in Chapel Hill, to talk more about estate planning. Today we want to address one of the most common questions that comes up during our planning meetings and that’s whether or not someone needs a trust.
It seems like many people have been conditioned to think they need a trust, but that’s not always the case. To help us better understand some of the scenarios where a trust makes more sense than a will, Tim will take us through the key differences, which assets need to be covered, and the main benefits a trust provides.
 
Here are some of the things you’ll learn in this episode:
Let’s first understand the different purposes for a will and a trust.
Who would be the type of person who can do everything they need to do through a will.
The different types of trusts and which assets are typically included in these.
The key benefits the trust provides a person or family.
 
Connect with us: 
Web: https://rosewoodwealthmanagement.com/
Phone: 919-391-3446