Tag Archives: Money

96. How to Manage Your Spending in Retirement With Tom Black



It’s not enough for your advisor to know what’s going on with your retirement, you need to know as well.

Of course you want to spend all the money you saved for retirement. In this episode, Tom Black shares how you can be successful in your retirement. Tom speaks about some of the “rules” around retirement spending and why not everyone can keep up with them. 

Tom discusses:

  • Why more people are looking towards retirement
  • The first step to creating a real retirement plan
  • Why having a good handle on your monthly will likely lead to you having a successful retirement
  • The “rules” of retirement and spending and why it’s not for everyone to follow
  • And more

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About Tom:

As a Financial Planner, Tom has a thorough understanding of the complex issues that must be addressed when preparing a strategic retirement plan.

Tom has always been interested in wealth management, graduating with a Finance degree from Brigham Young University. He attributes his career path to his passion and desire to help enrich peoples’ lives. Tom is motivated by helping people maintain financial independence and their active lifestyle long into retirement by providing a holistic financial review process. Prior to joining TRS, Tom gained extensive experience overseeing client-business relationships, client satisfaction strategies, accounting, budgeting, projections, and financial operations at Abadan, Yakima Valley Farmworkers, and Connell Grain Growers.


94. How to Have Money-Related Conversations with Your Children With Mike Whitmore



To all parents out there, do you talk about money with your children?

If so, what’s your approach?

In this week’s episode, The Retirement Solution’s Mike Whitmore quickly breaks down how to start, introduce, and maintain financial and money-related conversations with kids depending on their stage as pre-teenagers, teenagers, and adult children. 

Mike discusses:

  • Teaching your pre-teen children how to handle money, and what are the benefits of setting up UGMA accounts for them
  • Why have tax, “paying yourself first,” debt, and credit history-related conversations with your teenage children as they receive their first paycheck and are ready to go to college 
  • The importance of emergency funds, saving for retirement, and power of attorney documents for adult children 
  • The difference between consumer and educational debt 
  • What is “bank on yourself,” and what’s its role within the mortgage and life insurance arena 
  • AARP considerations for adult children 
  • And more!

Resources:

Connect with Mike Whitmore:

Connect with The Retirement Solution:

About Mike Whitmore:

Mike graduated from Brigham Young University with a BS in Business Management and Marketing and a minor in Dutch Literature. He is a Financial Planner with The Retirement Solution, serves as the President of the Advisory Board for Velvet Media, and is a former co-founder of Fresh Consulting.

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