Tag Archives: The Gen X Money Advisor

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Comparing David Versus Goliath Financial Advisors

Financial Planning, Money Advisor, Retirement, Risk Management, Uncategorized, Wealth, , ,

David and Goliath is a simple story about a small man overcoming an impossible battle with a giant. How do smaller and larger financial planning companies reflect these differences?

In this episode, Michael Labos explores the Davids and Goliaths of the financial planning industry. He focuses on what smaller businesses provide that larger companies tend to ignore and how those differences impact the client experience.

Michael discusses:

  • Why larger financial institutions appeal to potential clients
  • How clients lose out on personally connecting with their advisor in larger companies
  • What smaller financial businesses do differently as advisors
  • What potential clients should look for when debating who they should work with
  • And more!

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Adding Long Term Care To Retirement Planning (Ep.22)

Financial Planning, Money Advisor, Retirement, Risk Management, Uncategorized, Wealth, , , , ,

When planning your retirement, long-term care needs will also play a role in future spending. Planning for it today could save you money in the future.

In this episode, Micheal Labos dives further into accepting mortality and preparing aging parents for long-term care needs. He shares the advice he gives to clients on balancing costs while preparing a legacy for beneficiaries and some solutions that couldn’t be considered 20 years ago.

Micheal discusses:

  • What to consider when planning for long-term care
  • Why spouses aren’t the best option for long-term care givers
  • The benefits and detriments of Medicare and Medicaid
  • How to prepare for the cost of long-term care
  • And more!

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Building A Financial Plan For College Tuition with Ann Garcia (Ep.21)

Financial Planning, Money Advisor, Retirement, Risk Management, Uncategorized, Wealth,

With rising costs for future education, preparing for college tuition is a concern for many parents. How can they build an abundant and secure financial plan for their childrens education?

In this episode, Micheal Labos speaks with Ann Garcia, CFP and Owner of Independent Progressive Advisors, on the cost of college and creating a budget to include personal contributions, scholarships and government funded financial aid for your childs future education.

Ann discusses:

  • When should parents start thinking about college tuition costs
  • How the 529 works with contributions and withdrawls
  • Why a college budget is important whent planning for the cots of education
  • The appeal and negotiation process with colleges for more financial aid
  • And more!

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About Our Guest:

Ann Garcia is a CFP® and owner of Independent Progressive Advisors, a fee-only Registered Investment Advisor in Portland OR, author of The College Financial Lady blog  (thecollegefinanciallady.com). Her blog has approximately 15,000 subscribers in various media (blog, Facebook). In addition, she is regularly cited in national media (New York Times, US News & World Report) on the subject of college planning. Ann earned a BA from the University of California, Berkeley, and am a member of Phi Beta Kappa and of NAPFA, the leading association of fee-only financial advisors.

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Accepting Mortality Through An Immortal Legacy with Sandra Hunter (Ep.20)

Financial Planning, Money Advisor, Retirement, Risk Management, Uncategorized, Wealth, , , ,

Mortality is something that catches up to everyone eventually. What will you leave behind afterwards?

In this episode, Michael Labos is joined by Sandra Hunter, a Life Coach and Founder of Wild Women Leaders Of Color, in discussing moving aging parents into the next stage of life and creating a legacy through sharing experiences.

Sandra discusses:

  • The cultural impacts on the understanding of mortality
  • How to start the discussion of mortality with aging parents
  • How her mentorship program provides a purpose to older and younger professionals
  • How sharing personal stories create a legacy
  • And more!

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About Our Guest:

Sandra Hunter is an Anglo-Indian with Sri Lankan, Portuguese, and Dutch ancestries. Her father’s grandmother brought her Anglo-Indian family to England after the Indian Independence. Her mother comes from a line of Portuguese and Dutch spice traders. Sandra found that she belonged to neither side of her family. Sandra has 19+ years of teaching in college and has worked in Kenya. She faced racism and sexism at work, went through a divorce, and started her own business. Sandra knows what it’s like to function under stress while working towards true self-liberation.

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Maximizing Your Credit Card Benefits Ep. 18

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When choosing a credit card, what do you look for? Interest rates, miles or cash back? Or do you choose a company you are familiar with?

In this episode, Michael Labos dives into the world of credit card choices, revealing the additional benefits gained by choosing the right credit card for the right purchase and how to optimize incentives.

Michael discusses:

  • How the budget impacts which credit cards provide the most benefits
  • Why understanding brand and provider preferences is essential to choosing the optimal credit card
  • What the points are worth, and how to optimize redemption 
  • Some of the rules surrounding credit cards
  • And more!

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Why You Should Love Life Insurance (Ep.17)

Financial Planning, Money Advisor, Retirement, Risk Management, Uncategorized, Wealth, , , , , , , ,

After your death, life insurance provides your beneficiaries with financial security. Or does it?

In this episode, Michael Labos shares why the government’s lack of love for life insurance makes him love using it in financial planning. He dives into how governments view life insurance, how to avoid its pitfalls and create a plan for you and your beneficiaries.

Michael discusses:

  • Two main benefits of life insurance
  • How governments restrict the returns granted by life insurance policies 
  • Where life insurance fits within retirement planning
  • How to optimize life insurance and retirement planning to provide the death benefit to your heirs
  • And more!

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Is The 60/40 Portfolio Dead?

Financial Planning, Money Advisor, Retirement, Risk Management, Uncategorized, Wealth, , , , , , ,

A traditional portfolio has 60% stocks and 40% bonds to balance the ups and downs of the market. But how can you increase your returns when stocks and bonds are down?

In this episode, Michael Labos shares his knowledge on stocks and bonds within portfolio division and the alternatives to boost a portfolio when the 60/40 split doesn’t work. 

Michael discusses:

  • Why bonds are traditionally a good investment within a portfolio
  • How alternative investments compared to bonds
  • What is the role of alternative investments within a portfolio
  • The risk associated with alternative investments
  • And more!

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10 Steps to Start Taking Control of Your Finances (Ep.15)

Financial Planning, Money Advisor, Retirement, Risk Management, Uncategorized, Wealth, , , , , , ,

It’s hard to know where to start when creating a financial plan. You have so many options, and it’s tough to know which one is right for you. 

You’re not alone in this struggle. 

In this episode, Michael Labos explains how to stop putting off your finances and start thinking about them instead. Michael shares ten small steps that will make you start thinking about financial planning.

Michael discusses:

  • Why effective budgeting is the number one step to financial success
  • How debt can grow each year due to interest rates
  • The cost of multiple unnecessary subscription services
  • How to determine your true risk tolerance for portfolio management and investment planning
  • And more!

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The GoFundMe Dilemma (Ep.14)

Financial Planning, Money Advisor, Retirement, Risk Management, Uncategorized, Wealth, , , , , ,

When scrolling through Facebook, you may have seen posts for GoFundMe’s asking for money to cover anything from charities to surgeries. Overreliance on these types of financing has created what can be called ‘The GoFundMe Dilemma’.

In this episode, Michael Labos dives into the unfortunate connection between GoFundMe fundraising and financial planning, the downsides to using GoFundMe as an emergency fund and three types of insurance benefits for avoiding stressful financial situations.

Michael discusses:

  • The role of GoFundMe in society
  • The importance of starting a conversation about money
  • Why financial agents are beneficial to creating a financial plan 
  • How guardianship provides protection to children
  • And more!

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