The Confident Retirement

“The information I am providing is my opinion and not necessarily that of my firm or this platform. I am only providing general educational information and not any customized investment recommendations. You should consult with your Financial Advisor, Tax Advisor or Attorney on your specific situation. Nothing shall be construed as Financial, Tax or legal advice or recommendations”

In this workshop titled “Smart 401K Decisions” for Moderna employees, Kris Flammang and Collin Habig of LPF Advisors provided a comprehensive overview of Moderna’s 401K plan. They began by explaining eligibility and contribution guidelines, including age and service requirements, company match details, and the options for Roth 401K contributions. They discussed the importance of diversifying investments, utilizing target date funds, and the flexibility within the plan. The session covered distribution options upon retirement or changing jobs, potential tax implications, and ways to avoid penalties. Common mistakes, such as failing to update beneficiaries or not maximizing contributions, were highlighted. The workshop emphasized the importance of aligning 401K strategies with overall financial goals and offered further resources and personal consultations to help employees optimize their retirement planning. The advisors encouraged participants to take advantage of auto-escalation features and consider a comprehensive approach that includes stock options and RSUs. They concluded by inviting attendees to contact them for personalized advice and future workshops on related topics.

Takeaways

• Understanding Eligibility and Contributions: Employees become eligible for the Moderna 401K plan at 21 with one month of service. Contributions can be adjusted anytime, and setting an auto-increase is recommended for better savings.

• Maximizing Company Match and Roth 401K Options: To maximize the company match, employees should contribute at least 6% of their eligible earnings. High-income earners can benefit from the Roth 401K option, which allows for tax-free withdrawals in retirement.

• Diversifying Investments: The plan offers various investment options, including target date funds and individual funds, emphasizing the importance of diversification and matching investments to one’s risk tolerance and time horizon.

• Distribution Options and Tax Implications: Upon retirement or changing jobs, employees have several distribution options, including lump sum withdrawals and direct rollovers to IRAs. They should be aware of tax implications and potential penalties for early withdrawals.

• Avoiding Common Mistakes: Listeners are reminded to regularly update their beneficiaries, increase contributions as income rises, and ensure their investments align with their risk tolerance and retirement timeline to avoid common mistakes in managing their 401K.

Connect with Kris Flammang:

(5) Kristopher Flammang CRPC®AIF®BFA® | LinkedIn

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Episode Summary:

The information I am providing is my opinion and not necessarily that of my firm or this platform.  I am only providing general educational information and not any customized investment recommendations. You should consult with your Financial Advisor, Tax Advisor or Attorney on your specific situation. Nothing shall be construed as Financial, Tax or legal advice or recommendations.

Collin Habig is a certified financial planner and a recent addition to the LPF advisor family, bringing a wealth of expertise in financial planning issues related to equity compensation. With a strong background in risk management and corporate retirement planning, Collin is dedicated to tailoring strategies that meet each client’s unique financial needs. He emphasizes the importance of understanding when to sell stock options based on individual goals and the tax implications involved, rather than merely focusing on market price. Fueled by a passion born from personal family financial struggles, Collin is committed to building long-term relationships with clients, offering both financial and emotional guidance to help them achieve stability and independence.

Here’s what to expect this episode:

• Colin Habig is a certified financial planner with expertise in risk management, corporate retirement planning, and equity compensation.

• Colin values independence in his work, providing unbiased and personalized financial guidance to his clients.

• The team approach in financial planning ensures clients have access to a wide range of professionals, creating a supportive environment for confident decision-making.

• Building long-term client relationships involves understanding goals, providing emotional support, and guiding clients through various life stages beyond just financial advice.

Connect with Collin Habig

https://www.linkedin.com/in/collinhabig/

Connect with Kris Flammang

https://www.lpfadvisors.com/

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The information I am providing is my opinion and not necessarily that of my firm or this platform. I am only providing general educational information and not any customized investment recommendations. You should consult with your Financial Advisor, Tax Advisor or Attorney on your specific situation. Nothing shall be construed as Financial, Tax or legal advice or recommendations.

Mark Gordon is a seasoned journalist with an extensive background that includes work in newspapers, magazines, and now, the Observer Media Group. His career journey began in Philadelphia, taking him to New York and ultimately leading him to Sarasota, where he serves as the managing editor of the Business Observer. Before embarking on this journey, Gordon worked as a juvenile probation officer in Philadelphia, an experience that, along with his geographic transitions, has informed his unique perspective. Gordon’s attitude towards his career is shaped by his love for the dynamic nature of journalism and the various challenges and growth opportunities it presents. Despite journalism’s lack of instant gratification, he finds fulfillment in the continuous flow of projects, working with a dynamic team, and the opportunity to create engaging content. His dedication to storytelling and the industry’s constant evolution are evident in his work and leadership style.

Here’s what to expect this episode:

• Mark Gordon transitioned from journalism to juvenile probation officer to business writing, finding his niche after 9/11

• Gordon emphasizes the importance of curiosity, asking questions, and seeking help in transitioning to business writing

• He manages the Business Observer print edition, coordinates website stories, and writes leadership columns and strategy stories

• Gordon discusses the need for media professionals to continuously learn and adapt to meet modern audience demands

• The shift towards a digital-first approach in journalism is crucial to align with changing reader preferences

• Successful entrepreneurs highlight the significance of perseverance, sticking to vision, and effective communication in leadership

• Small businesses relocate to areas with better job markets and living conditions to attract talent, supporting business growth and driving economic development

Connect with Mark Gordon

https://www.linkedin.com/in/mark-gordon-7860b83/

Connect with Kris Flammang

https://www.lpfadvisors.com/

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Episode Summary:

“The information I am providing is my opinion and not necessarily that of my firm or this platform. I am only providing general educational information and not any customized investment recommendations. You should consult with your Financial Advisor, Tax Advisor or Attorney on your specific situation. Nothing shall be construed as Financial, Tax or legal advice or recommendations”

Phil Blancato, the highly respected President and CEO of Ladenburg Thalmann Asset Management, has almost 35 years of experience in the investment management industry. Phil’s viewpoint on investment management and macroeconomic theory has been shaped by his personal journey and background, having grown up in a blue-collar family. His primary focus is helping the everyday person achieve financial success instead of working exclusively with high-net-worth individuals, such as hedge fund leaders or private equity firms. Blancato underscores the importance of grasping macroeconomic trends and how they shape investment decisions, underlining the need to adjust portfolios based on shifting economic environments. With his pragmatic and relationship-oriented approach to investment management, Blancato is devoted to helping his clients attain their financial objectives and retire in comfort.

Here is what to expect on this week’s show:

• Analyzing global economic trends is crucial for making informed investment decisions regarding where to invest.

• Investment strategies involve analyzing global growth, currency strength, and sector performance to inform portfolio decisions on a micro level.

• ETFs, mutual funds, and individual stocks offer unique advantages for investors based on factors like diversification, cost, and tax efficiency.

• What are the unique advantages of ETFs, mutual funds, and individual stocks for investors?

Connect with Phil Blancato

https://www.ladenburg.com/investment-banking/ladenburg-thalmann-co-inc-

Connect with Kris Flammang

https://www.lpfadvisors.com/

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Episode Summary:

The information I am providing is my opinion and not necessarily that of my firm or this platform. I am only providing general educational information and not any customized investment recommendations. You should consult with your Financial Advisor, Tax Advisor or Attorney on your specific situation. Nothing shall be construed as Financial, Tax or legal advice or recommendations.

Kristina Caballero is a highly experienced personal injury lawyer, boasting over a decade of experience in the field and a Bachelor’s degree in Law from a prestigious university. Specializing in cases related to car accidents and slip-and-fall incidents, she has a firm belief in the importance of personal injury law as a means to protect individuals who have suffered due to the negligence or wrongdoing of others. Her perspective is shaped by her extensive experience in representing numerous clients and securing substantial settlements and verdicts for them. Caballero views personal injury law as a tool for seeking justice and providing support for those who have been wronged, and she emphasizes the importance of legal representation to navigate the complexities of personal injury cases and uphold the rights of victims.

Here is what to expect on this week’s show:

• Establishing a strong client-attorney relationship is crucial in the legal process.

• Specializing in personal injury, medical malpractice, and wrongful death cases requires navigating complex legal issues and providing support to clients during challenging times.

• Financial planning includes guiding clients in post-settlement financial planning, such as setting up annuities, trusts, and investments for long-term sustainability.

• Navigating strict court timelines and handling severe injury cases can be emotionally challenging for legal professionals.

Connect with Kristina Caballero

https://www.linkedin.com/in/kristina-georgiou-esq-97ab4851/

Connect with Kris Flammang

https://www.lpfadvisors.com/team/kristopher-flammang

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“The information I am providing is my opinion and not necessarily that of my firm or this platform. I am only providing general educational information and not any customized investment recommendations. You should consult with your Financial Advisor, Tax Advisor or Attorney on your specific situation. Nothing shall be construed as Financial, Tax or legal advice or recommendations.”

Bruce Willey JD, CPA, has served as an accountant, tax and wealth-building specialist for individuals and business owners for over three decades. The founder of American Tax & Business Planning, LLC. Bruce is also an author, sought-after speaker and influential resource for tax law, application knowledge and strategic advisement.

Bruce is focused on creating partnerships with his clients; his specialties include tax minimization, comprehensive and ongoing wealth and tax guidance as well as legacy planning and transition management for individuals and business owners. To reach those goals, Bruce and his team invest in thoroughly understanding each client’s business as well as their needs and objectives; then finding opportunities and creating a master plan for financial choices designed to maximize outcomes while minimizing negative obligations.

Bruce and his team have saved their clients hundreds of thousands of dollars in unnecessary taxes and costs, helping them build their financial foundation, legacy and options.

Listen to this informative The Confident Retirement episode with Bruce Willey about secret systems to strategic tax planning.

Here is what to expect on this week’s show:

• Why Bruce is a tax preparer and not a planner.
• How Bruce picked the services his firm offers.
• The difference between reactive vs proactive tax planning
• Americans view tax refunds incorrectly.
• The amount of retirement from the IRS is alarming.
• What is an outsourced CFO and who is a good candidate?
• What is the Secret System?

Connect with Bruce:

Americantpb.com

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The information I am providing is my opinion and not necessarily that of my firm or this platform. I am only providing general educational information and not any customized investment recommendations. You should consult with your Financial Advisor, Tax Advisor or Attorney on your specific situation. Nothing shall be construed as Financial, Tax or legal advice or recommendations.

Looking to invest excess cash? Look no further than this episode of The Confident Retirement, hosted by Kris Flammang. Kris discusses your options for overflow cash in this new solo episode. Kris has been in the financial services industry

Flammang breaks down the pros and cons of savings accounts, money market accounts, CDs, and money market funds. Learn about the benefits of having easy access with lower interest rates through savings accounts, or higher interest rates with flexible check-writing through money market accounts. And don’t forget about CDs, which offer even higher interest rates with a laddering strategy. But for those seeking the highest interest rates of all, riskier money market funds may be the way to go. Flammang emphasizes the need to carefully weigh the options and choose the right account based on individual priorities and needs.

Don’t just leave your extra funds in a low-interest savings account! Listen to this informative The Confident Retirement episode with Kris Flammang about what to do with your excess cash.

Here is what to expect on this week’s show:

• Maximizing excess cash in savings accounts and more
• Pros and cons of different account types
• Considering your individual priorities and needs

Connect with Kris:

LPFadvisors.com

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The information I am providing is my opinion and not necessarily that of my firm or this platform. I am only providing general educational information and not any customized investment recommendations. You should consult with your Financial Advisor, Tax Advisor or Attorney on your specific situation. Nothing shall be construed as Financial, Tax or legal advice or recommendations.

In this installment of The Confident Retirement podcast, featuring Kris Flammang, we delve into the intricate realm of tax litigation, emphasizing the pivotal role of seasoned expertise. Karen Tenenbaum, a distinguished tax attorney with a remarkable tenure of 39 years, bolstered by an LL.M. in Taxation and credentials as a Certified Public Accountant. As the visionary founder of Tenenbaum Law, P.C., based in Melville, NY, Karen has dedicated the past quarter-century to advocating for individuals and businesses ensnared in the complexities of IRS and New York State tax disputes.

Renowned for her profound acumen in tax law, Karen Tenenbaum is a venerated figure on the lecture circuit, imparting her extensive knowledge on IRS and NYS tax matters to esteemed professional groups such as the NYS Society of CPAs, the NCCPAP Accounting and Tax Symposium, AAA-CPA, and the New York State Society of Enrolled Agents, among others. In her current roles as the Chair of the Suffolk County Bar Association Tax Law Committee and the Vice Chair of the NYS Society of CPAs Relations with IRS Committee, she continues to shape the discourse in tax law, while her firm steadfastly champions the resolution of tax dilemmas for a myriad of clients.

Tune in to this enlightening episode of The Confident Retirement with Karen Tenenbaum for a discourse replete with sophisticated insights into the nuances of tax law.

Highlights of this week’s episode include:

• An exploration of the circumstances under which the government may initiate the withdrawal of funds from personal accounts.
• A discussion on the strategic significance of carving out a specialized niche in the vast landscape of professional practice.
• Prudent strategies to mitigate the risk of triggering a tax audit.
• An overview of New York’s commendable initiative for voluntary disclosure, a program exemplary in its approach to tax regulation.

Connect with Karen:

https://www.litaxattorney.com/

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“The information I am providing is my opinion and not necessarily that of my firm or this platform. I am only providing general educational information and not any customized investment recommendations. You should consult with your Financial Advisor, Tax Advisor or Attorney on your specific situation. Nothing shall be construed as Financial, Tax or legal advice or recommendations.”

Born into a medical family, Trish Butcher has dedicated her professional career to advocating for and assisting physicians and other healthcare professionals. After having her own son, she transformed her passion into a modern law practice that focuses on helping guide young families and the medical community to protect their hard-earned assets and family with personalized and comprehensive life & legacy planning. Whether her clients are just starting their career or looking to protect their medical legacy, married or single, have babies or children who are grown, Trish helps her clients craft a plan that achieves their goals for their legacy and loved ones today and for years to come.

Trish graduated from the University of Georgia followed by the Emory University School of Law in 2013. While studying at Emory, she interned with the Medical Association of Georgia (MAG) and later transitioned into the role of Legal Counsel. After MAG, Trish transitioned to private practice and assisted healthcare professionals with a wide variety of legal matters while working with Hamil Little PC. After advanced training with the New Law Business Model, Trish became a licensed Personal Family Lawyer and Family Business Lawyer® in order to step away from the antiquated billable hour and ensure that she can become the trusted advisor for her clients to look to for a lifetime of guidance, protection, and love.

Trish is an avid University of Georgia fan, a wife, and proud mother of Max (and two fur babies).

Listen to this dynamic The Confident Retirement Podcast episode with Trish Butcher. Her honesty and care for people is on top. There are a lot of things that she imparted. The most important thing is that whatever the practice area she focuses on, she shares her passion in making a difference in an individual’s life and know that she was able to help.

Here is what to expect on this week’s show:

·Trish shares the story behind how she chose to be a lawyer, what’s her original plan when she entered law school, and why she opened up her own law firm.

·Learn more about estate planning by knowing Trish’s firsthand experience on an estate plan that gone bad.

·What is Trish’s motivation for specializing in special needs planning and what does this plan do?

· “Making a difference in people’s life.” This is what Trish loves most about the business.

·Trish clarifies the misconception that attorneys are intimidating to talk to.

·Trish tells us a story of a recent satisfying experience that includes covering the blind spots of her client. Learn more about Trish’s, what she loves to do, her personal stories.

· Learn more about Trish’s, what she loves to do, her personal stories, and experiences, achievements, and things that she is looking forward to.

Connect with Trish Butcher/Butcher Health Law

www.butcherhealthlaw.com

Connect with Kris

Website: https://www.lpfadvisors.com/

LinkedIn: https://www.linkedin.com/in/kristopher-flammang-lpfadv/

Twitter: @kflammang

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“The information I am providing is my opinion and not necessarily that of my firm or this platform. I am only providing general educational information and not any customized investment recommendations. You should consult with your Financial Advisor, Tax Advisor or Attorney on your specific situation. Nothing shall be construed as Financial, Tax or legal advice or recommendations.”

Looking to secure your financial future? Tune in to The Confident Retirement hosted by Kris Flammang. On today’s episode, Kris Flammang interviews Carolina Nunez, a first-generation American attorney.

After graduating law school, Carolina opened her solo practice in Winter Park, Florida and expanded recently to Daytona Beach, Florida. The Law Offices of Carolina Nunez, P.A. also expanded offices in satellite locations in Gainesville and Stuart. The goal of her firm is to provide personalized service while delivering big firm results. Their boutique office focuses on client communication to not only provide full understanding of legal strategy to their clients, but also to ensure that the client knows that they are not just another case. They value people and view each case from the eyes of our clients. 

On today’s episode, Carolina shares her journey with Kris from her beginnings in real estate to eventually becoming a lawyer. She discusses the importance of ambition and drive over education, and the ins and outs of personal injury and estate planning (regardless of wealth status). Plus, learn how Carolina helps her clients navigate the complex world of insurance policies and recover maximum compensation for their injuries. Stay up to date with the latest legal updates and tips from Carolina’s blog. Don’t miss this engaging and informative episode of The Confident Retirement about maximizing your confidence for retirement. Listen now!

Here is what to expect on this week’s show:

• How Carolina moved from real estate to law
• The relatable side of boutique law firms
• Essential estate planning documents  
• Navigating personal injury cases
• The importance of adequate insurance coverage  
• Medical billing challenges for boutique law firms 
• The importance of an online presence for law firms

Connect with Carolina:

https://www.cnunezlaw.com/

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