Tag: Retirement Planning
Roles and Responsibilities of a Financial Advisor (EP. 76)

Roles and Responsibilities of a Financial Advisor (EP. 76)

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Planning for retirement and ensuring financial security in the post-retirement years involves more than just accumulating wealth through savings and investments; it encompasses cultivating the comfort and confidence to meet present and future needs.

Achieving this security begins with creating a good retirement budget, a strategic tool that lays the groundwork for a stable and worry-free financial journey throughout one’s retirement years.

In this episode, David Pulcini, the Managing Partner at SixPoint Financial Partners, delves into why working with a Financial Advisor is essential. Moreover, he shares invaluable insights on how to create a good retirement budget.

Additionally, he uncovers the 5 biggest retirement planning mistakes that people make and guides the listeners through 8 essential action steps to enhance their retirement planning.

Tune in for a wealth of knowledge that will transform your approach to retirement planning.

 

Watch The Full Episode on Youtube: https://youtu.be/8MR3eK_Ac38

 

During this episode, you will learn about:

[01:17] What is the point of working with a Financial Advisor?

[02:00] The meaning of financial security 

[02:59] How to create a good retirement budget

[04:58] https://sixpointfp.com/

[06:00] 5 Biggest retirement planning mistakes that people make

[13:55] What does SixPoint mean?

Website: https://sixpointfp.com/

[14:34] 8 Essential action steps to enhance your retirement planning

Step #1 Determine your financial needs 

Step #2 Identify funding sources

Step #3 Plan backwards for saving

Step #4 Align investments with your goals 

Step #5 Maximize social security & pensions 

Step #6 Minimize your taxes legally

Step #7 Update legal documents
Step #8 Conduct annual reviews

[15:59] Connect with David Pulcini: https://sixpointfp.com/

 

Key Takeaways: 

  • “Financial security is not just about the numbers in your bank account or investments; it’s about the comfort and confidence that you can meet your needs today and in the future.” ~David Pulcini [02:03]
  • “Taxes don’t retire when you do.” ~David Pulcini [07:41]
  • Effective estate planning ensures that your assets are distributed according to your wishes, providing clarity and ease for your loved ones. [12:27]

 

Book Time with David Pulcini:

 

Connect with David Pulcini:

View The Full Episode Transcript Here

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Life Lessons and Financial Planning with Financial Advisor Aaron Laranetto (Ep. 73)

Life Lessons and Financial Planning with Financial Advisor Aaron Laranetto (Ep. 73)

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Financial planning transcends mere money-making; it’s about forging connections and relationships. Importantly, dedicating time to planning and investing enhances the long-term efficiency of your money.

Joining us today is Aaron Laranetto, a Wealth Manager, Temple alumni, and an independent Financial Advisor at SixPoint Financial Partners. Aaron generously reveals his path into financial services and recounts acquiring his first client.

Aaron presents a comparative analysis of working with a Brokerage Firm versus an Insurance Firm, and also explains why he chose to become an independent advisor. Aaron also pinpoints two often overlooked aspects in retirement planning.

Don’t miss out, tune in!

 

Watch The Full Episode on Youtube Here:

 

During this episode, you will learn about:

[01:18] Meet our guest: Aaron Laranetto

[01:36] Aaron’s background

[04:43] https://sixpointfp.com/

[05:33] How Aaron got into the financial services space

[08:33] How he got his first client

[11:54] Aaron’s comparative experience: Working with a Brokerage Firm vs. an Insurance Firm

[16:30] What prompted Aaron to become an independent advisor?

[19:49] Aaron’s advice to his 22-year-old self

[23:13] Who are the clients that Aaron is currently working with, and how is he assisting them?

[25:25] Where is Aaron currently located?

[27:09] The 2 common things that people often miss in their retirement plan journey

[31:02] Connect with Aaron Laranetto

Website: https://sixpointfp.com/

Email: alaranetto@sixpointfp.com

LinkedIn: https://www.linkedin.com/in/aaron-laranetto-ab87a9bb/

Key Takeaways:  

  • “Financial planning is more than just making a good living for yourself; it’s about building relationships.” ~Aaron Laranetto [20:20]
  • Having confidence in yourself and your work significantly enhances your effectiveness as an advisor.. [21:22] 
  • The more time you have to invest, the more time you will give your money to work for you. [29:14]

Book Time with David Pulcini:

Connect with David Pulcini:

Connect with Aaron Laranetto:

 

 

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Purchasing Practices Part 2: Answering Our FAQ With Joe Prestigiacomo, CFP® (Ep. 69)

Purchasing Practices Part 2: Answering Our FAQ With Joe Prestigiacomo, CFP® (Ep. 69)

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So you’re ready to retire and want to sell and transition your practice, but you have a few questions. Well, guess what? We have answers.

In this episode, David Pulcini and Joe Prestigiacomo from Six Point Financial Partners discuss the process of buying practices and answer frequently asked questions from advisors looking to sell their businesses or have a succession plan. They cover topics such as the process for buying a practice, keeping staff during the transition, and how to transition clients. They emphasize the importance of multiple meetings to ensure a good fit, the value of keeping staff members during the transition, and the timeline for transitioning clients.

David and Joe go over: 

  • A brief review of what their practice purchasing process looks like
  • Answers to 6 of the top FAQ questions / If they’ll keep your staff and why
  • How they actually transition clients and how long it takes
  • When and how the advisor gets paid when they transition their practice
  • What they’ll do with your office
  • What they need from you for the transition
  • Whats coming up next on Dear Rochester, Retire Well
  • And more

Resources:

Purchasing Practices Part 1: Our Process With Joe Prestigiacomo, CFP® (Ep. 68)

Book Time with David Pulcini:

Connect with David Pulcini: 

Connect with Joe Prestigiacomo

About our Guest: 

Joe Prestigiacomo, CFP®, Partner at Six Point Financial, began his career in the financial services industry in 2012, and today he provides comprehensive financial guidance to clients. Joe focuses on developing retirement income strategies and personalized risk management assessments and solutions. Along with his knowledge and experience, his commitment to an outstanding level of client service is an integral part of his practice that he prides himself on. By developing a deep understanding of his clients’ individual situations, Joe is able to help them make well-informed financial decisions with confidence.

 

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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How Much Money Is Enough To Retire On? (Ep. 66)

How Much Money Is Enough To Retire On? (Ep. 66)

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How much money is enough to retire comfortably?

In this episode, David Pulcini explains how you can figure out how much money is enough to retire comfortably. He outlines a simple four-step process to help you figure out your retirement number. David also mentions the 4% rule of thumb for safe withdrawals and emphasizes the importance of adjusting investments, retirement length, and withdrawal amounts based on market conditions.

David discusses: 

  • A 4-step outline for finding your retirement number
  • How to calculate your current expenses and future expenses in retirement
  • Where will your retirement income come from
  • How to fill the gap between your financial expenses and retirement income
  • What the 4% rule is
  • How to determine what amount you need in order to be able to take 4% to fill the gap
  • And more

Resources:

Book Time with David Pulcini:

Connect with David Pulcini: 

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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6 Points To Consider Before Your 2023 Retirement With Joe Prestigiacomo (Ep. 51)

6 Points To Consider Before Your 2023 Retirement With Joe Prestigiacomo (Ep. 51)

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Summary:

Whether you plan to retire in 2023 or shortly after that, make sure your retirement plan provides for all your needs.

In this episode, David Pulcini discusses 6 points people approaching retirement should consider in 2023 with Joe Prestigiacomo, CFP®. David and Joe explain how retirees can determine how much money they will need and where they can source their income. Joe talks about how inflation, social security, and retirement contribution limit changes will affect how much money retirees will need. They conclude the episode with a discussion about the emotional side of retirement and a brief recap of the 6 points to consider before retiring in 2023.

Joe discusses: 

  • How much money you need to retire and where it will come from
  • Why inflation is the word of 2022
  • The increases in inflation, social security, and retirement contribution limits
  • Why healthcare is the most Googled term for people heading into retirement
  • The emotional side of retirement
  • And more

Resources:

Book Time with David Pulcini:

Connect with David Pulcini: 

Connect with Joe Prestigiacomo:

About our Guest: 

Joe Prestigiacomo, CFP® is a partner at SixPoint Financial. Joe began his career in the financial services industry in 2012. Today, he provides comprehensive financial guidance to his clients. Joe focuses on developing retirement income strategies and personalized risk management assessments and solutions. Along with his knowledge and experience, Joe prides himself on developing a deep understanding of his clients’ individual situations, and his ability to help them make well-informed financial decisions with confidence.

Disclosures:

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

 

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Checking Your Retirement Planning List (Ep. 36)

Checking Your Retirement Planning List (Ep. 36)

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As the saying goes, the years go by fast. One minute you’re a young up and comer in your career.

Then suddenly, the next minute you’re facing the question of “when is the right time to retire?” Do you have the best plan in place to live your dream retirement?

In this episode, David Pulcini reviews what you need to cover in your retirement checklist to ensure that you are truly prepared for retirement.

David discusses:

  • The 16 points on your retirement list that need to be checked
  • The role your advisor plays in ensuring everything on the list is complete
  • How to get more out of your Social Security
  • The importance of looking into long-term care insurance
  • And more

Connect with David Pulcini: 

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6 Common Mistakes Made in Financial Planning with Joe Prestigiacomo, CFP®, John Harms, CFP® and Alex Neri, CFP® (Ep.35)

6 Common Mistakes Made in Financial Planning with Joe Prestigiacomo, CFP®, John Harms, CFP® and Alex Neri, CFP® (Ep.35)

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When it comes to financial planning, making mistakes can end up being disastrous to your accounts, and can result in the loss of your own financial security for your retirement. 

In this episode, Joe Prestigiacomo, CFP®, John Harms, CFP® and Alex Neri, CFP® each give two examples they commonly see when it comes to financial planning.

David, Joe, John and Alex discuss: 

  • Why you should avoid having multiple retirement accounts
  • Taking your RMDs from the proper accounts
  • When you should be claiming Social Security 
  • Mistakes made when it comes to income planning through retirement 
  • Why you shouldn’t be too conservative with your accounts as you approach retirement
  • And more

Connect with David Pulcini: 

Connect with Joe Prestigiacomo:

Connect with John Harms:

Connect with Alex Neri:

About Joe Prestigiacomo: Joe Prestigiacomo began his career in the financial services industry in 2012, and today he provides comprehensive financial guidance to many clients. He graduated from St. John Fisher College – Rochester, NY where he earned a Bachelor of Science degree in Finance. He holds Series 7, 24, 66 and NYS Life, Health & Disability Insurance Licenses, and is a Certified Financial Planner™. Joe focuses on developing retirement income strategies as well as personalized risk management assessments and solutions.

Along with Joe’s knowledge and experience, his commitment to an outstanding level of client service is an integral part of his practice that he prides himself on. By developing a deep understanding of Joe’s clients’ individual situations, he is able to help them make well informed financial decisions with confidence.

About John Harms: John Harms is an Indiana native who started in the investment and financial services industry in 2004 with Wachovia. There, he concentrated on helping small business owners in Chicago’s Lincoln Park community with retirement planning and investment portfolio management. Upon moving to Rochester in 2007, John shifted focus to providing comprehensive financial planning, wealth management, retirement income and distribution planning advice to educators.

He truly enjoys working with his clients helping to ease their financial concerns so that they can focus on what’s most important to them in life. John is approachable and pays close attention to detail in developing solutions to provide professional service clients can depend on. 

John is a 2004 graduate of the Krannert School of Management at Purdue University – West Lafayette, IN where he earned a Bachelor of Science degree in Management with a minor in Finance. In 2015, he obtained the RICP® (Retirement Income Certified Professional) designation from the American College.

Currently enrolled in the CFP® (CERTIFIED FINANCIAL PLANNER™) Curriculum at the American College and holds Series 7, 65, 66 and NYS Life, Health & Disability Insurance

About Alex Neri: Alex Neri is dedicated to helping people meet their financial goals through in-depth discussions and planning. He is a 2014 graduate of Mercyhurst University-Erie, PA where he earned a bachelor’s degree in Finance. He enjoys taking complex issues and breaking them down into simple and manageable financial goals. Specializing in working with individuals and families as Alex works to help them properly manage their retirement assets, develop risk mitigation strategies and uncover and resolve portfolio inefficiencies.

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31. Tax Planning – Part Four of Six Points of Financial Planning

31. Tax Planning – Part Four of Six Points of Financial Planning

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Did you know by improperly filing your taxes and not planning for potential tax return opportunities, you could be losing thousands of dollars you didn’t know you could save?

In this episode, David Pulcini explains the importance of tax planning, it’s benefits, and how to be sure you are making the right choices to benefit your future financial situation. 

David discusses: 

  • The difference between tax preparation and tax planning
  • How tax planning affects retirement income planning and the years prior of saving 
  • What questions to ask yourself as you look into tax planning and your finances
  • How to begin planning
  • Some examples of tax planning gone wrong and gone right 
  • And more

Resources:

Connect with David Pulcini: 

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30. Retirement Income Planning – Part Three of Six Points of Financial Planning with John Harms CFP, RICP®

30. Retirement Income Planning – Part Three of Six Points of Financial Planning with John Harms CFP, RICP®

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As you enter retirement, you want to be sure your wealth doesn’t outlive you. 

It’s important to ensure you have enough money to continue to live comfortably and that you have finances for any extra hurdles that might come along the way.

In this episode, David Pulcini talks to colleague John P. Harms, CFP®, RICP®, partner and investment advisor representative at Six Point Financial Partners about the third point in the series of Six Points Of Financial Planning, retirement income planning. 

David and John discuss: 

  • Where to start when planning for retirement
  • How the timing of your retirement planning will affect your income later 
  • Different aspects that can make your retirement different from anyone else’s
  • How long the process of retirement planning can take with an advisor (spoiler, it’s less than you think…) 
  • How much to allocate towards your retirement, and how to find the amount right for you
  • What comes next, once you have your plan in place
  • And more

Connect with David Pulcini: 

Connect with John Harms: 

About our Guest: John Harms is an Indiana native who started in the investment and financial services industry in 2004 with Wachovia. There, he concentrated on helping small business owners in Chicago’s Lincoln Park community with retirement planning and investment portfolio management. Upon moving to Rochester in 2007, John shifted focus to providing comprehensive financial planning, wealth management, retirement income and distribution planning advice to educators.

He truly enjoys working with his clients helping to ease their financial concerns so that they can focus on what’s most important to them in life. John is approachable and pays close attention to detail in developing solutions to provide professional service clients can depend on. 

John is a 2004 graduate of the Krannert School of Management at Purdue University – West Lafayette, IN where he earned a Bachelor of Science degree in Management with a minor in Finance. In 2015, he obtained the RICP® (Retirement Income Certified Professional) designation from the American College.

Currently enrolled in the CFP® (CERTIFIED FINANCIAL PLANNER™) Curriculum at the American College and holds Series 7, 65, 66 and NYS Life, Health & Disability Insurance

 

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27. Understanding Your Retirement From a Public School View with Marshal Scheidt

27. Understanding Your Retirement From a Public School View with Marshal Scheidt

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Navigating through pension options, IRAs, 403(b)s, and insurance plans can be overwhelming, and for many, the hardest part of retiring– especially for those working in the public school system. 

In this episode, David Pulcini speaks with Marshal Scheidt, partner at Six Point Financial Partners, to talk about retirement for public school employees, with lessons and mistakes that can be applied for both public school employees and everyone else planning for retirement.  

David and Marshal discuss: 

  • Retirement planning for public school employees 
  • Common mistakes clients make with their pensions 
  • Understanding how to make your 403(b) work for you
  • Why retirement incentives might be costing you thousands if you’re not ready to retire
  • A look into how your tax bracket can affect your retirement 
  • And more

Connect with Marshal Scheidt:

Connect with David Pulcini: 

About our Guest: Marshal Scheidt takes a tremendous amount of pride in helping his clients envision and accomplish their goals. Whether these goals pertain to their financial lives or are personal objectives, he takes a stake in helping his clients grow and improve on many levels. 

Graduated in 2015 from SUNY Brockport where he earned a Bachelor of Science degree in Finance, as well as Business Administration with a concentration in Management.

Marshal’s business practice is focused on providing comprehensive financial planning, risk management and retirement income strategies to help individuals find success and peace of mind.

 

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