Episode 1 - Forecasting for 2023

In this episode of The Money Experience, Kevin McGarry is speaking with Frank M. Betsch, the founding partner of Valley Financial Group. With over 42 years of financial planning experience, Frank has helped thousands of people retire.

The goal of this podcast is to uncomplicate money. The guys are looking at the predictions for 2023 and comparing them to historical data to come up with their own opinions on what the market has to offer in the upcoming year. This episode is wrapped up with advice on managing your finances.

To contact Kevin McGarry: kevin@valleyfinancial.com kevin@valleyfinancial.com

To schedule a free financial assessment, fill out the form below.

“Chase Utley! You are the Man!”  – The Great Harry Kalas

In Philadelphia, we loved Chase simply because he gave everything to the Phillies and to the City of Brotherly Love. If you need any proof of this love, according to US Social Security database, 299 newborns were named Chase in Pa in 2009.  The Man is now retiring from baseball and if Chase Utley needed help preparing for his retirement these are the questions Valley Financial Group would want him and his family to think about.

1. Do you know what your ideal retirement looks like?

– It is very important to know if you have enough money for retirement. What exactly do you want your retirment to pay for and what is it going to cost to live your ideal retirement? If you don’t have a vision of your retirement goals then it makes the planning just to say a little difficult.  

2. Does your spouse have the same retirement goals for your family as you?

– Just like in baseball, if you are married, you are part of team and if you don’t share a common game plan it could lead to some series loses. The term is “Gray Divorce.” Among U.S adult ages 50 and older, the divorce rate has roughly doubled since 1990.  Boomers are living longer and now that the kids are out of the house they want to live freely, which can cause problems if one spouse wants to live the Archie Bunker Retirement on the recliner. Not understanding your spouse’s retirement goals possibly can be catastrophic for your finances.

3. What do your financial habits say about you?

– Your assets, pensions, social security benefit, tax situation, debt, cost of living, longevity, insurance, risk tolerance etc… are all important in creating a successful retirement plan. However, if we took a look at your credit card and debit card statements, would we understand who you are and what would they say about you.  According to Kathleen Kingsbury author of the book “Breaking Money Silence” evaluating your statements will allow you to understand where your money is going and consider if it fits your values.  You want to notice what money behaviors match and don’t match what’s is important to you. You want to eliminate or slow down the habits that could interfere with achieving your ideal retirement.

Chase Utley is most likely playing his last games at Citizen’s Bank Park today and he probably isn’t walking into Valley Financial Group after his game for a meeting to plan for his retirement. However, if he did, these are the first three questions we would want ask him and when he left the meeting we would thank him for all those great years and for being the Man! We wish you the best Chase!

https://www.nerdwallet.com/blog/investing/financial-plan-questions-to-ask-before-

you-start/

https://nypost.com/2017/06/14/this-is-what-divorce-looks-like-after-50-years-of-marriage/amp/

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