I've Been Meaning To Do That

The hidden risk behind business success

Building a successful business is a major accomplishment, but it takes planning to support personal financial security. Many business owners may find that their wealth is highly concentrated, illiquid, and tied to the fate of their company. In this episode of I’ve Been Meaning To Do That, host and Truist Wealth Head of Investment Management Oscarlyn Elder is joined by colleagues Victor Santiago, senior wealth strategist, and Julie Farah, senior trust advisor, to explore why business success and personal wealth need intentional coordination to move together. They talk about the potential risks of delaying planning, possible ways to create liquidity, and how to align business and personal strategies to consider both your company and your family. Also in the discussion: • Reasons business owners might neglect their personal financial planning • How overconcentration may create risks for owners and their families • Why business and personal financial plans should be coordinated, and how to go about it • How advisors can help business owners plan before a transition occurs Additional information: If you’d like to take notes on today’s episode, you can download this free template. Podcast worksheet [https://www.truist.com/content/dam/truist-bank/us/en/documents/media/podcast/truist-PWP-podcast4-worksheet-v01.pdf] Have a question for Oscarlyn or her guests? Email DoThat@truist.com.

The trust trap: How scammers target seniors and their wealth

Seniors have long been a favorite target for scammers, but the rise of artificial intelligence is making the risks we all face harder to recognize and avoid. In this episode of I’ve Been Meaning To Do That, host and Truist Wealth Head of Investment Management Oscarlyn Elder invites Charlotte Edwards, vice president of operations at Cyberwolf, onto the show to talk about protection strategies that can help reduce the danger. Cyberwolf is a referral partner of Truist Financial Corporation, specializing in online security for people with a heightened need for protection. Edwards offers advice based on her years of experience working with clients of all ages to prevent fraud. Also in the discussion: • How scammers are using AI to exploit their victims • Specific warning signs that a senior is being targeted • Why investment scams are a particular danger for affluent seniors • The importance of establishing a “trusted circle,” and how to make it effective Additional information: If you’d like to take notes on today’s episode, you can download this free template. Podcast worksheet [https://www.truist.com/content/dam/truist-bank/us/en/documents/media/podcast/truist-PWP-podcast4-worksheet-v01.pdf] Have a question for Oscarlyn or her guests? Email DoThat@truist.com

How to make smart Social Security decisions

For many high-net-worth retirees, Social Security can feel either uncertain or insignificant compared to other sources of wealth. But misunderstanding the rules or claiming benefits without a considered plan, can have costly consequences. In this episode of I’ve Been Meaning To Do That, host and Truist Wealth Head of Investment Management Oscarlyn Elder invites her colleague Tony Bryan in to talk about Social Security myths and strategies. Bryan is a wealth advisor with extensive knowledge of Social Security, and he shares tips and anecdotes about the effect decisions have on taxes, survivor benefits, and long-term retirement planning. Also in the discussion: • Why the belief that Social Security is “going bankrupt” often leads people to claim benefits too early • How Social Security fits into retirement planning for families with significant wealth • Situations in which divorced spouses or widows are eligible for benefits they might not expect • Topics to consider with your tax advisor related to strategies such as Roth conversions If you’d like to take notes on today’s episode, you can download this free template. Podcast worksheet [https://www.truist.com/content/dam/truist-bank/us/en/documents/media/podcast/truist-PWP-podcast4-worksheet-v01.pdf] Have a question for Oscarlyn or her guests? Email DoThat@truist.com

Why dementia care belongs in your financial plan

Dementia and Alzheimer’s disease are widely recognized as significant health risks of aging, but their potential effects on your wealth plan and family dynamics can be severe as well. In this episode of I’ve Been Meaning To Do That, host Oscarlyn Elder talks with Annalee Kruger, founder of Care Right Inc. and author of The Invisible Patient, for an important conversation about the risks of waiting until a crisis hits to make care plans, and the benefits of being proactive. Kruger’s experience caring for her own aging parents informs her practical guidance that can help lessen the risk of later regret about a loved one’s care. Also in the discussion: • The widespread misconceptions about the high cost of memory care • The necessary components of a dementia care plan • How to help your kids or caregivers now so they can better help you when you need them • How to make plans if you’re single, widowed, or divorced If you’d like to take notes on today’s episode, you can download this free template. Podcast worksheet [https://www.truist.com/content/dam/truist-bank/us/en/documents/media/podcast/truist-PWP-podcast4-worksheet-v01.pdf] Have a question for Oscarlyn or her guests? Email DoThat@truist.com

How credit can support your wealth plan

How can credit support your wealth plan? Credit can preserve investment positions, help you take advantage of market opportunities, or meet short-term liquidity needs without disrupting your long-term plan. In this episode of I’ve Been Meaning To Do That, Oscarlyn Elder and Elizabeth Greene explore the strategic uses of credit, and how consultations about credit with your advisory team can help support your overall goals. Also in the discussion: • Why having credit solutions in place before you need them can give you flexibility, speed, and negotiating power • The importance of customization, instead of a one-size-fits-all approach • How experts match careful cash flow and risk analysis alongside credit use • A team approach for collaboration among advisors, lenders, investment professionals, and estate planners If you’d like to take notes on today’s episode, you can download this free template. Podcast worksheet [https://www.truist.com/content/dam/truist-bank/us/en/documents/media/podcast/truist-PWP-podcast4-worksheet-v01.pdf] Have a question for Oscarlyn or her guests? Email DoThat@truist.com