Episode Overview

Host Gabe McManus sits down with Social Security specialists Russ and Mike to tackle one of retirement's biggest decisions: when to claim Social Security. In this eye-opening conversation, they reveal why "take it at 62 like Dad did" might cost you hundreds of thousands of dollars, how divorced spouses can claim benefits they never knew existed, and why the water cooler isn't the best place to get retirement advice.

Key Topics Discussed

The 62 Myth

• Why a third of Americans claim at 62 and why many shouldn't
• The 30% permanent reduction for early filers
• The earnings limit test that could mean you get nothing even after filing
• Breaking free from the "my dad did it this way" mentality

The Real Math Behind Claiming Decisions

• Why break-even analysis isn't enough
• The paradigm shift: using the least amount of your own capital to meet retirement income needs
• A real client example: how waiting until 70 created a $700,000 difference in excess wealth
• Having $1.7 million vs. $1 million in liquid wealth just from filing strategy

Hidden Benefits for Divorced Spouses

• The 10-year marriage rule that unlocks ex-spousal benefits
• Claiming on a deceased ex's record: the full benefit, not just spousal
• The woman who discovered $60,000 in benefits she almost missed
• Why Social Security won't send you a letter when your ex passes away

Remarriage Rules That Matter

• Age 60: the magic number for widow/widower benefits
• How remarriage affects living vs. deceased ex-spouse benefits
• Planning your engagement timeline (yes, really)

Retirement Savings Realities

• The 15% rule of thumb for gross income savings
• Why 77% of working households don't think they've saved enough
• The danger of all-or-nothing thinking
• Automating contributions when you're self-employed

Investment Psychology

• Why panic selling destroys retirement plans
• Time in the market vs. timing the market
• Finding your true risk tolerance
• How day traders rarely tell you about their losses

Legacy Planning

• The "put your oxygen mask on first" philosophy
• Why being a little selfish ensures you're not a burden
• The power of giving while you're alive
• Having open money conversations across generations

Memorable Quotes

"The biggest blessing you can give your kids is making sure you're in a good spot, so they don't have to worry about taking care of you."

"If you thought you could have another income source at 62, why wouldn't you do that? And a lot of people feel that way. But jumping in can lead to permanently taking a smaller benefit for the rest of your life."

"People that day trade and tell you they do well don't tell you what they lost."

"This pen isn't good or bad. If I threw it at Mike, the pen isn't bad—it was the manner in which I used it. Financial tools work the same way."

Key Takeaways

1. Don't claim Social Security in a silo. Integrate it with your spending needs, tax planning, and investment strategy.
2. If you've been divorced and married 10+ years, investigate what benefits you might be entitled to from your ex—especially if they've passed away.
3. Automate your retirement savings so you're not making the decision with every paycheck.
4. Find your risk tolerance and stick to a plan you can live with rather than chasing higher returns you can't stomach.
5. Take care of yourself first before planning legacy gifts. You can't help your kid

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Connect: gabe@moreclientsmorefun.com

Episode Overview

Host Gabe McManus talks with Stephen Soderstrom, CEO of G4 Wealth Advisors and author of "Paycheck to Prosperity," about moving from financial survival mode to actually thriving. They discuss the CEO checking account, why three years changes everything, and how to practice for problems before they arrive.

Key Topics Discussed

The Three-Year Transformation

• Why three years is the sweet spot for meaningful financial progress
• Long enough for real growth, short enough to envision clearly
• How compounding habits create confidence over 36 months

Solving Tomorrow's Problems Today

• Practicing for expenses before they arrive (college, car repairs, emergencies)
• Treating future costs like current bills
• Building accounts with "high walls" for home, auto, travel, and taxes

The CEO Checking Account

• Why weekly spending beats monthly budgeting
• Getting "paid" on Tuesdays instead of Fridays changes everything
• Know if you're winning or losing within a week, not a month
• Guilt-free spending when you stay within your number

The Credit Card Trap

• Why "I pay it off every month" doesn't mean you're in control
• The psychology of "how did it get so high?"
• Weekly cash management prevents lifestyle creep

Being Your Own CEO

• Taking ownership instead of being the "wayward employee"
• Making tough decisions your future self will thank you for
• The empowerment of controlling your financial destiny

Money Without the Marriage Drama

• Why spreadsheets destroy relationships (and what works instead)
• The crucial role of third-party advisors
• Getting on the same page without conflict

The Sandwich Generation

• Balancing aging parents, teenage kids, and retirement
• Having money conversations with parents
• Understanding their situation to plan effectively

The Inheritance Reality Check

• "Inheritance is not the retirement strategy, but it could be a retire early strategy"
• Why more money doesn't fix money problems without skills
• The 16-year-old with a sports car analogy
• Building skills now so you're ready when money arrives

Retirement Mindset Shifts

• From "I'll work until I die" to "I have choices"
• Why flexibility matters more than specific retirement ages
• How work improves when you don't need the money
• Giving yourself options to avoid "I have to work"

The College Decision

• Helping kids see beyond the bumper sticker
• Who do you want to be at 27, not just where at 21?

Memorable Quotes

"If I can just solve the problem today, it won't be a problem tomorrow."

"You are the CEO. It's a tough job. But with that job, you've got to make some tough decisions."

"The bumper sticker will fade, the flag will fall off, but the debt stays."

Resources

• Book: "Paycheck to Prosperity" by Stephen Soderstrom
• G4 Wealth Advisors, Eden Prairie, Minnesota

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Connect: gabe@moreclientsmorefun.com

Episode Overview

Join host Gabe (52) as he sits down with Morgan, a 35-year-old financial advisor in Dallas who specializes in helping people live more intentionally through major life transitions. In this candid conversation, they explore the emotional and financial challenges of divorce, raising teenagers, planning for college, caring for aging parents, and building a meaningful legacy.

Key Topics Discussed

Personal Journey & Philosophy

• Morgan's path from Pepperdine University to founding Life Branch Wealth Partners
• The coaching approach to financial advising: moving beyond numbers to understand what truly matters
• How childhood experiences with money shape our adult financial behaviors

Life After Divorce

• Managing the financial and emotional restart at 52
• Balancing competing priorities: retirement savings vs. creating memories with kids
• The importance of being vulnerable about major life changes

Raising Financially Savvy Teens

• Teaching kids about money through open, authentic conversations
• Encouraging early investing habits (Gabe's daughter opens her first brokerage account)
• Navigating the college decision: aspirational dreams vs. financial reality

The Sandwich Generation Challenge

• Caring for aging parents while raising teenagers
• Having important conversations about inheritances and legacy
• The critical importance of self-care when holding everything together

Investment Wisdom

• Why emotional decisions derail investment success (Gabe's Apple stock story)
• The value of "racehorse money" for individual stock investing
• Time in the market vs. timing the market

Planning for the Future

• Understanding the "go-go," "slow-go," and "no-go" retirement phases
• Creating financial plans that accommodate life's unexpected expenses
• Balancing present experiences with future security

Memorable Quotes

"At the end of the day, if we're living intentionally in alignment with our values, we'll be happy. We'll feel like our life has meaning."

"You can borrow for college, right? You can't borrow for retirement."

"I like to think of inheritances as icing on the cake that can help, not something to fully count on."

"We've got to focus on you in that middle, saying what are you doing to restore yourself? If I don't get that time for me, it's gonna be a problem."

Resources Mentioned

• Morgan's book: Intentional Legacy
• Life Branch Wealth Partners

Episode Takeaways

1. Financial planning isn't just about numbers—it's about understanding your values and priorities
2. Having a trusted advisor helps protect you from emotional financial decisions
3. Open conversations about money with family members (kids and parents) are essential
4. Perfect balance doesn't exist, but intentional trade-offs aligned with your values create meaning
5. Starting financial education early with children sets them up for lifelong success

Subscribe: Apple Podcasts | Spotify | YouTube
Connect: gabe@moreclientsmorefun.com