Tag: Financial Planning
The Most Essential Conversations You Need to Have About Estate Planning (Ep. 11)

The Most Essential Conversations You Need to Have About Estate Planning (Ep. 11)

By |

Not all conversations about money are going to be comfortable, especially the conversation about what happens to your assets after you pass away.

This week, Ryan Poterack discusses the value of having conversations about money and estate planning early on in life. Ryan highlights the emotional aspects of these discussions and the role of a wealth manager in facilitating them. 

This episode also covers the necessity of including children in estate planning conversations and the potential for disagreements. Ryan then goes on to emphasize the value of having a plan and how to thoroughly communicate it to loved ones.

Talking points include: 

  • How to start conversations about estate planning with your loved ones
  • The most common mistakes people make when creating an estate plan (and how to avoid them)
  • The emotional aspect of having these conversations and why it’s up to the parents to decide when to initiate them
  • The roles associated with an estate plan (including power of attorney, financial power of attorney, and the executor)
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Using Roth IRAs to Create a Tax-Efficient Retirement (Ep. 9)

Using Roth IRAs to Create a Tax-Efficient Retirement (Ep. 9)

By |

We’ve talked about the good, the bad, and the limitations of traditional 401(k)s. Now, we’re tackling the process of turning that traditional IRA into a Roth IRA. 

What does it take to do a Roth conversion, and is it right for you? 

In this episode, Ryan Poterack discusses the benefits and process of converting a traditional IRA into a Roth IRA. He explains the tax implications of both types of IRAs and the value of considering current and future income tax brackets when deciding to convert. 

Tune in as Ryan emphasizes the importance of critical thinking in financial planning, using specific examples to illustrate his points. 

Main talking points include: 

  • What are Roth IRA conversions and how to maximize its usage  
  • The tax implications of having an IRA conversion
  • The role Roth IRAs have in your unique retirement plan
  • The value of critical thinking skills when creating your financial plans
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Can We Have Too Much Money? Understanding The Purpose of Our Money (Ep. 8)

Can We Have Too Much Money? Understanding The Purpose of Our Money (Ep. 8)

By |

“Your eyes are bigger than your belly.”

Have you heard this saying? (You eat too much of something good and end up feeling not-so-good afterward!)

Now, let’s apply it to our finances. Can we have too much money? How much is enough for retirement?

In this episode, Ryan Poterack discusses the purpose of money, focusing on its role during retirement. Ryan explains why wealth accumulation is not about greed but about maintaining a lifestyle and potentially giving back. 

Ryan uncovers: 

  • Tips on determining how much is enough for personal retirement goals and needs
  • The influence of social media on retirement expectations
  • Ways societal pressures influence people’s financial desires
  • The role of charitable giving in retirement and how to start creating a legacy plan
  • How listening to our personal needs and circumstances can help us know when is the right time to retire
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
How To Find The Right Financial Professional? Here’s What You Need To Know (Ep. 4)

How To Find The Right Financial Professional? Here’s What You Need To Know (Ep. 4)

By |

When it comes to managing our finances, seeking support from a professional advisor can save us from many costly mistakes.

In this episode, Ryan Poterack uncovers the importance of finding the right financial professional and the concept of comprehensive planning. Ryan stresses the value of gathering quantitative and qualitative information from clients while providing them with a holistic view of their financial situation and personal aspirations. 

Listen in as Ryan addresses the challenges faced by ‘do-it-yourselfers’ and the benefits of establishing a fee-for-advice relationship with a financial professional.

Ryan discusses: 

  • Reasons he gathers quantitative and qualitative client data
  • What  ‘fiduciary’ means at Poterack Capital Advisory
  • The value of asking your advisor about their professional network (ranging from attorneys, CPAs, tax professionals, and beyond!)
  • Some of the roadblocks ‘do-it-yourselfers’ face when doing their own financial planning
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
The Psychology of Saving: Developing Discipline for a Secure Financial Future (Ep. 3)

The Psychology of Saving: Developing Discipline for a Secure Financial Future (Ep. 3)

By |

We often make financial decisions based on our biases and life experiences.

Would you agree?

In this episode, Ryan Poterack highlights the importance of understanding our relationship with money and emphasizes the need to question societal expectations and consider alternative perspectives when it comes to financial strategies. 

Ryan also shares his approach to uncovering biases and gut reactions towards different strategies while addressing common challenges he faces when helping clients.

Ryan discusses: 

  • The role of societal expectations on our financial decisions and ways to mitigate their impact on our financial life
  • How to translate our ‘gut feelings’ when creating and building a financial plan
  • Ways he helps couples overcome financial biases (and some useful tips to overcome yours!)
  • The psychology of saving money and creating the discipline to ‘pay yourself first’
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Unleashing Your Financial Potential: The Story Behind Poterack Capital Advisory (PCA) (Ep. 2)

Unleashing Your Financial Potential: The Story Behind Poterack Capital Advisory (PCA) (Ep. 2)

By |

It’s no secret that there’s a strong connection between psychology and finances.

In this episode, Ryan Poterack explains how Poterack Capital Advisory has evolved since he initially built the company. He highlights PCA’s unique aspects, such as being a virtual firm, its thorough discovery process, and its approach to holistic and comprehensive planning.

Ryan also sheds light on the steps his firm takes to assess potential clients and the importance of taking a long-term view while providing personalized solutions. 

Ryan discusses: 

  • Poterack Capital Advisory’s history: How long they’ve been in business, ways they have and continue to enhance their approach to serve clients, and how they differ from industry competitors
  • Some shaping moments he has had throughout his career
  • The firm’s ideal client base
  • What you can expect as a new PCA client
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Life Isn’t Lived On a Spreadsheet: Here’s Why with Ryan Poterack (Ep.1)

Life Isn’t Lived On a Spreadsheet: Here’s Why with Ryan Poterack (Ep.1)

By |

It’s time to stop living your life through spreadsheets and static plans and start focusing on what really matters.

Introducing Life Isn’t Lived On a Spreadsheet with your host, Ryan Poterack from Poterack Capital Advisory 🎉

In the inaugural episode, Ryan sheds light on his career in financial services, his passion for helping individuals and families navigate the transition into retirement, and his firm’s approach to understanding each client’s unique set of goals and values.

Ryan also explores the role faith plays in his life and some of the inspiring reasons he decided to start this podcast. 

Ryan discusses: 

  • His journey in financial services
  • What faith and family truly mean to him and the roles they play in his personal and professional life 
  • His fresh perspective on financial planning: Ways he’s implementing his holistic approach to retirement planning
  • Topics he will be covering in his podcast
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

About Your Host:

Ryan Poterack is passionate about problem-solving. There are no magic bullets or one-size-fits-all solutions. Customized solutions start with more facts, questions, and listening. Everyone has unique life experiences, personal objectives, and biases and doesn’t know what they do not know. Coordinating qualitative and quantitative client information is essential to fiduciary recommendations.

As CEO & Wealth Manager at Poterack Capital Advisory, Ryan leads a virtual firm focused on helping highly paid executives to optimize tax efficiency and manage their wealth so they can enjoy their best life and create a financial legacy.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More