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Financial and retirement planning guidance from Phil Telpner of Breakout Private Wealth in Glenview, Illinois. Join Phil each show for helpful conversations about money, life, and retirement. Phil will cover topics like 401(k)s, IRAs, income planning, investing, and so much more.



Search below to find episodes about specific topics or scroll down to see the most recent shows!

Ep 19: Don't Cut Corners In Your Financial Plan

It can be tempting to cut corners as you make your retirement plan - but those decisions can often turn into a huge inconvenience, if not an outright disaster. We'll go over some common ways people cut corners in their financial plan, and what you should be doing instead.

Ep 18: Where Financial Advisors Drop The Ball

We see a lot of people who aren’t getting the kind of advice and service from their financial advisor that they should be. In a lot of cases, the advisor is only “managing the investments,” but not providing guidance in other areas. Let’s talk about some of the things that your advisor should be doing.

Ep 17: Damages

Phil recently recently released a new book titled "Damages." This book focuses on personal injury attorneys and what the road of financial independence may look like for them specifically. Phil discusses what this book is all about on today's show.

Ep 16: Risk Averse: Explaining The Buzzword

Have you heard someone say they’re risk averse? Do you know what it really means in the context of the financial world? We’ll explore this important buzzword on today’s show and explain why it’s so important to have a good grip on just how risk averse you are.

Ep 15: Minding The Behavior Gap

If you’ve ever ridden the subway in London, you’ve probably seen the “Mind the Gap” signs warning you to be aware of the gap between the train door and the station platform. Let’s talk today about what the behavior gap is and what you can do to address it.

Ep 12: Retirement Plan Customization Is King

Most people understand that a customized retirement plan is much better than a one-size-fits-all approach. And yet, most people don’t have a plan that’s truly customized. Let’s talk about some of the things that need to be considered if you’re going to build a truly customized plan.

Ep 11: The 5 Things You Need To Know About Decumulation

So much focus in the financial world revolves around accumulating money. There’s all sorts of advice, "how to" guides, and guardrails in place when it comes to saving and investing, but a lot less resources out there to help retirees navigate the period of time after retirement. This is known as decumulation, the spending down and managing of the assets you’ve accumulated through your life. And on this episode, we’ll point at (at least) 5 things you must know about decumulation to retire successfully.

Ep 9: Non-Correlated Income

Sometimes it’s important to really breakdown a financial buzzword. Non-Correlated Income qualifies as a worthy concept to explore and something that every retiree and pre-retiree should understand.

Ep 7: Do Retirees Really Need Life Insurance?

Ironically, life insurance is a young man’s game. The perception among many people is that your need for life insurance dramatically decreases and perhaps becomes completely unnecessary as you age. Is that really the case? On this episode, let’s explore some ins and outs of life insurance and its various uses.

Ep 6: Describing Retirement

It makes sense that the way we plan for retirement is largely influenced by what we think retirement is like or all about. So, let’s take a look at how various people across the US describe retirement and see how that might shape the retirement planning process.

Ep 5: Making Customized Plans For Each Client

As people, we all vary in who we are and what we want out of life. We all find our own purpose in this world and we want what is best in the context of our lives. That being said, our financial plan should also reflect these differences. It doesn't make sense to try and fit everybody into the same financial plan when our goals are different. Phil talks on some software he uses to make a customized plan for each of his clients and why you shouldn't settle for anything less.

Ep 4: Helping Clients With Their Retirement Journey

Diving into the financial world can be daunting for average consumer. There are big name banks and firms that are notorious for serving clients as a salesman and not a financial advisor. Even though there are shady people in the industry, finding someone with your best interest in mind can be one of the best choices you make when it comes to your retirement plan. Phil talks about how he builds relationships with his clients when putting together their plan and why it makes all the difference in the world.

Ep 3: Income Planning

There are many people that feel like they will never be able to retire. They worry that they will not have enough money to live off of to be comfortable, but this can be solved by developing an income plan. Knowing where your different streams of income are coming from each month can ease this worry and give you the confidence to finally retire. Phil talks us through how he builds income plans for his clients and what considerations he has to make throughout this process.

Ep 1: Getting To Know Phil's Business, Breakout Private Wealth

Welcome to the first episode of the Breakout Wealth Podcast! To start things off, we wanted to introduce Phil Telpner and his business. Phil was part of a large financial firm for many years before he decided to branch off and start his own practice. He discusses what drove this decision, why he initially got into the financial services industry, and much more.