In this episode, Brendon Murphy sorts through some misleading beliefs about retirement. Discover why you might not actually spend less in retirement, how to plan for longevity, and debunk the idea that Social Security will cover all your expenses. This episode offers a conversational yet insightful peek into the realities of retirement planning.
Brendon discusses:
(02:01) Spending expectations in retirement and the reality of initial costs
(05:08) Social Security misconceptions and supplemental income needs
(09:51) Importance of early savings to leverage compounding interest
(12:18) Planning for healthcare needs and living longer
What do modern annuities bring to the table for your retirement plans?
In this episode of The Compass Wealth Conversations Podcast, Brendon Murphy dives deep into the world of annuities, demystifying the often misunderstood financial tool. He explains how when set up correctly, annuities can provide guaranteed income for life, principal protection, and tax-deferred growth. This conversation is perfect for anyone looking to understand how annuities might fit into their retirement strategies and overcome the bad rap they’ve historically received. Discover the ins and outs of different types of annuities, from immediate and fixed index to variable ones, and learn how they can effectively support your retirement income planning.
Brendon discusses:
(01:06) What an annuity is and how it secures your principal and income
(02:35) Types of annuities: immediate, multi-year guaranteed, fixed index, and variable
(04:46) The historical bad rap of annuities and why it’s outdated
(07:17) How annuities complement Social Security and other retirement income
(09:21) The considerations for rolling your 401(k) into an annuity
(11:59) The right time to consider investing in annuities
(13:24) Addressing liquidity concerns for annuity holders
And more
Ready to see how annuities can transform your retirement strategy? Tune in as Brendon Murphy guides you through the essentials to make informed decisions. Listen, learn, and share to keep this valuable financial conversation going.
What do you need to do to prepare for your family’s future care needs?
Navigating long-term care is not just about planning financially, but emotionally, and strategically. Let’s explore how to protect our loved ones without losing our peace of mind.
In this episode, Brendon Murphy sits down with Jeremy Veryser, a seasoned regional account director from OneAmerica, to unravel the complex world of long-term care planning. Together, they dive into unique funding strategies that will ease the burden on families while offering peace of mind. Whether you’re a caregiver, a family member, or just someone curious about long-term care, this episode has invaluable insights for everyone.
Brendon and Jeremy discuss:
(03:00) The history and evolution of asset-based long-term care solutions
(08:03) Leveraging life insurance and annuities for long-term care benefits
(11:10) Strategies for using health savings accounts and business tax deductions in care planning
(13:00) How the Pension Protection Act offers new tax advantages
(16:05) Addressing cognitive disorders and care for illnesses like dementia and Alzheimer’s
And more
Tune in for practical advice that can help safeguard your financial plans and secure legacy wealth for future generations. Be sure to like, follow, and share this episode with anyone you think might find it helpful.
Jeremy Veryser, a regional account director of OneAmerica, works with successful BGAs and IMOs to educate their marketers and financial professionals on how to implement plans for extended care needs by utilizing our asset-based LTC product suite. At OneAmerica Financial, Asset-based long-term care is a primary focus and with a dedicated employee wholesaling team, the largest in the asset-based LTC market, it’s easy to see why these strategies are becoming the future of LTC planning. OneAmerica Financial’s Brokerage partners have found these solutions help to address one of the largest retirement risks while simultaneously creating significant revenue. Some of the attributes Jeremy seeks in future brokerages he works with are a real desire to help advisors protect their clients and their client’s families from the physical and emotional consequences that an unexpected care need would cause, a holistic approach to financial planning, superior ethics, and a desire for continued growth.
Are you unsure how to navigate the complexities of Medicare and health insurance?
Learn about the complexities of Medicare and health insurance with expert Lisa Eppolito, making it easier to choose the right plans and avoid costly mistakes
Today on The Compass Wealth Conversations, Brendon Murphy is joined by Lisa Eppolito, a Medicare specialist from Positive Insurance Solutions, to discuss the intricacies of selecting the right Medicare and health insurance plans. You’ll hear valuable insights on how to prepare for retirement by understanding the complexities of Medicare, from initial sign-ups to choosing between various supplemental plans.
Brendon and Lisa discuss:
Why it’s important to sign up for Medicare as soon as you’re eligible and the potential consequences of delaying
How to choose the best prescription drug plans based on individual medical needs and budgets
Significant upcoming changes to Medicare prescription drug costs set for 2025
Tips on navigating healthcare options for individuals under 65, including the benefits of seeking professional advice
And more
Join us for these vital tips to ensure you make informed decisions for your health and retirement!
Lisa Korab Eppolito of Positive Insurance Solutions is a Medicare and health insurance specialist for people under the age of 65. Lisa is a licensed independent health insurance broker.
Pensions may seem like a thing of the past, but you can still create your own secure retirement income.
How can you ensure a stable income in retirement without relying on traditional pensions? What strategies can help you build a reliable financial future?
In this episode, Brendon Murphy discusses the decline of traditional pensions and how individuals can build their own retirement income using modern financial tools. He explains the role of fixed index annuities and other strategies to create a personal pension plan.
Brendon discusses:
The Decline of Traditional Pensions: Why company pensions have become rare and the shift to 401(k) and 403(b) plans
Building a Personal Pension: How to use fixed index annuities with guaranteed lifetime income to create a stable retirement income
Tax Considerations: The tax implications of rolling over 401(k) funds into annuities and the benefits of using Roth accounts
Starting Early vs. Late: Strategies for both early and late starters in building a personal pension
Real-Life Examples: Stories of clients who successfully transitioned from company pensions to personal retirement plans
Creating a robust financial plan can be daunting, but having the right team can make all the difference.
How do you find the right professionals to guide you through retirement planning? How can collaboration between wealth managers and insurance specialists benefit you?
This week, Brendon Murphy sits down with Brendan McPoyle, Partner & Wealth Manager at Princeton Global Asset Management. Together, they explore the power of their collaborative approach to wealth management and insurance, focusing on providing holistic and customized financial solutions to clients. You’ll hear about their unique partnership, their comprehensive services, and how they help clients navigate their finances with ease.
Together, they discuss:
Brendan McPoyle’s journey and his collaboration with Compass Financial Solutions
How personalized financial planning can address specific client needs and goals
The importance of having a professional team for holistic wealth and health management
Real-life client stories illustrating the benefits of their services
Brendan McPoyle works with business owners, high-net-worth individuals, and hard-working professionals across the United States. With 20 years of experience in developing inclusive financial plans and comprehensive financial strategies, he has helped individuals and families visualize their dreams and plan for financial retirement success.
His collaborative and comprehensive wealth management approach leverages the talents and knowledge of the Princeton Global team and each client’s trusted advisors to help increase and protect financial assets, build and secure assets for retirement, and achieve financial security and independence.
Retirement planning is crucial, but it comes with its own set of challenges and uncertainties.
How do you ensure your assets last as long as you do? What happens if the market crashes right before you retire?
This week on Compass Wealth Conversations, Brendon Murphy breaks down the top six risks every retiree or pre-retiree needs to consider to ensure a secure and prosperous retirement.
Brendon provides valuable insights and actionable advice on how to navigate these challenges effectively, drawing on years of experience in helping clients plan for their financial futures.
Brendon discusses:
Longevity: The challenge of outliving your financial assets and the importance of planning for a long retirement
Mortality: The impact of a spouse’s death on Social Security benefits and the need for additional income sources
Market Volatility: The risks of market downturns and strategies to protect retirement savings
Liquidity: The necessity of having accessible funds for emergencies and unexpected expenses
Inflation: How rising costs can erode purchasing power and ways to hedge against inflation
National Debt: The implications of national debt on taxes and retirement planning
Planning for long-term care may not be as exciting as planning your next pickleball game, but it’s crucial for your financial security and peace of mind.
How do you ensure you’re prepared for the future? What are the best strategies to leverage your assets for long-term care?
This week on The Compass Wealth Conversations Podcast, Brendon Murphy dives into the fundamentals of long-term care, addressing why it’s a critical component of your financial planning. He sheds light on the various forms of long-term care, misconceptions, cost considerations, and the importance of early planning to secure your future comfort and peace of mind.
Brendon discusses:
Understanding the different types of long-term care available today
The impact of long-term care costs on personal savings and assets
Common misconceptions about Medicaid and Medicare coverage
The benefits of starting long-term care planning early
Are you ready to turn financial uncertainty into a secure retirement?
Welcome to The Compass Wealth Conversations Podcast with Brendon Murphy!
In this inaugural episode, Brendon dives deep into the crucial topic of establishing reliable income streams for retirement by leveraging life insurance products.
He shares his unique journey from the restaurant industry to financial services, highlighting the invaluable role of conversations in understanding clients’ needs and tailoring financial plans to meet their goals.
Whether you’re a young professional or nearing retirement, this podcast will offer a wealth of insights into creating a stable financial future.
Brendon discusses:
Brendon’s transition from the service industry to financial services
The importance of comprehensive retirement planning
Utilizing life insurance for income generation
Building a network of professionals to address all aspects of retirement
