ABOUT THIS EPISODE
Is Your Financial Plan Missing Something Big?
What if your retirement plan has a blind spot you didn't know existed?
In this enlightening episode, host Cathleen Toomey welcomes wealth management experts Tom Sedoric and Casey Snyder of Clove Hitch Advisors to break down the real secrets of retirement success. With decades of experience and national recognition from Forbes, these two know exactly what can derail even the most prepared retiree---and how to fix it.
Tom and Casey dive into the psychology of financial planning, including the dangers of optimism bias and recency bias. They discuss why collaboration with estate planners and accountants is essential, and how to create tax flexibility for a more secure future.
You'll learn:
- Why your plan might not be as resilient as you think
- How to start the financial conversation with your family
- The critical importance of having a written plan
- And how financial advisors themselves can future-proof their businesses
🔗 Links and Resources:
- The Optimism Bias by Tali Sharot
- Humble Dollar
- The Economist
- Bloomberg
- Financial Times
- The New York Times
❓ What's Next?
- What are your views, comments or questions on financial planning for retirement? Share them with us at info@seniorityauthority.org!
🤝🏻 Stay Connected
- Connect with host Cathleen Toomey on LinkedIn
- Find out more on the Seniority Authority website, and follow us on Facebook and Instagram
- Subscribe to Seniority Authority on Apple Podcasts, Spotify, or wherever you get your podcasts.
🤝🏻 Timestamps
00:00 - Intro
02:12 - Common blind spots in financial planning and the importance of anticipating change
04:04 - The role of optimism bias and recency bias in retirement planning
06:16 - Why collaboration with accountants and estate planners is critical
08:22 - Tax flexibility and long-term strategy in light of changing laws
13:18 - The increasing gap between capability and need as we age—and why early conversations matter
17:12 - Exercises to test financial resilience and the dangers of only planning for best-case scenarios
20:11 - How to answer the "How much do I need for retirement?" question
22:14 - The importance of team diversity, continuity, and future-proofing a financial firm
23:00 - Recommended financial media
2023 | 2024 Source:
— Forbes Best-in-State Wealth Advisors ranking was developed by SHOOK Research and is based on in-person, virtual, and telephone due diligence meetings to evaluate each advisor qualitatively, a major component of a ranking algorithm that includes: client retention, industry experience, review of compliance records, and firm nominations; as well as quantitative criteria including assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC and are not indicative of future performance or representative of any one client's experience. Neither Steward Partners Investment Solutions, LLC nor its Wealth Managers pay a fee to Forbes or SHOOK Research in exchange for the ranking. For more information, visit
.
