The Retirement Show: Your Life, Your Money with Scott Sierens
144 episodes - English - Latest episode: 1 day ago - ★★★★★ - 3 ratingsA top retirement podcast dedicated to helping you: Reduce Taxes | Make Work Optional | Maximize Retirement Income | Invest Confidently | Optimize Stock Compensation | Help Future Generations
Scott Sierens, financial advisor at Sierens Financial Group, will provide thoughts, strategies, and ideas on each episode to help you thrive in life, wealth and retirement. The goal is to take complex financial subjects and make them simple and easy to understand so you can feel confident to take action, enjoy life, and eliminate financial stress and anxiety.
Scott, along with guests from across various industries, will cover topics such as tax savings strategies, investments and wealth management, IRAs, 401(k)s, retirement planning, retirement income strategies, pensions, estate planning, social security, healthcare, and much more.
Retirement isn't an age or number. It's finding the balance between living life today and feeling financially confident about YOUR tomorrow.
Ask Scott your questions by calling 847-235-6989 or check out our podcast website at https://lifemoneyshow.com for more resources.
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Episodes
Do I Need Life Insurance in Retirement?
April 25, 2024 09:00 - 35 minutes - 65.7 MBDo you need life insurance once you’ve retired? We get this question all the time in our office. And, as with most things in financial planning, the necessity of it depends on your situation. So, in today’s video, Scott is here to share some examples of why one would or would not need life insurance in retirement. Here’s some of what we discuss in this episode: 0:00 – Intro 5:20 – Focusing on your investment strategy instead of the news 11:11 – The basics of life insurance and its pu...
Social Security Fact or Fiction
April 11, 2024 09:00 - 31 minutes - 57.6 MBNavigating Social Security can feel confusing. With a sea of information out there it’s hard to discern what’s fact and fiction. In this episode, Scott addresses five common statements about Social Security and breaks down whether they’re true or false. Here’s some of what we discuss in this episode: 0:00 – Intro 1:04 – Average retirement spending for 65-year-old 7:47 – Social Security taxes 13:39 – Taking Social Security when you retire 18:05 – Keeping all Social Security be...
Retiree Regrets
March 28, 2024 09:00 - 31 minutes - 58.7 MBMany of us have experiences that we regret. How can we avoid these feelings in our retirement years? In today’s episode, Scott shares common retiree regrets and practical strategies to sidestep them. Here’s some of what we discuss in this episode: 0:00 – Intro 7:13 – Waiting too long to retire 9:01 – Not having goals and a purpose in retirement 13:06 – Losing touch with family 15:16 – Not enjoying more while you’re younger 21:20 – Not taking your health seriously earlier in...
Market Risks, Generational Wealth & Happiness in Retirement
March 14, 2024 09:00 - 37 minutes - 52.5 MBIn this episode, Scott is going to share some of the wisdom he gained from AE Wealth Management’s Wealth Elite Symposium he recently attended in Nashville, Tennessee. This event featured esteemed speakers from Schwab, former writers for the Wall Street Journal, experts from Fidelity, and more. Listen in as Scott shares his takeaways on market risk, recessions, interest rates, generational wealth, and happiness in retirement. Here’s some of what we discuss in this episode: 0:00 - Intr...
Market Highs, Elevated Interest Rates & Your Retirement
February 22, 2024 10:00 - 36 minutes - 50.2 MBIn today’s financial landscape, the market has been hitting new highs and interest rates remain at elevated levels. You might have even heard some of the buzz surrounding the Federal Reserve and interest rate adjustments. We’re here to bring some clarity to the question on many investors’ minds: What does all of this mean for my investments and retirement plans? Is all of this exciting or cause for concern? Here’s some of what we discuss in this episode: 0:00 – Intro 3:20 – Underst...
The Retirement Hazard Zone
February 08, 2024 10:00 - 32 minutes - 45.5 MBIn today’s episode, we’re going to discuss the retirement hazard zone. This is the 10 years leading up to retirement and the first decade of retirement itself. Listen in Scott compares this period to driving through a construction zone, focusing on the need to slow down, think differently, and be prepared for the unexpected. Before we jump in, Scott will discuss the top 5 financial scams targeting retirees and pre-retirees and share some essential tips to help you avoid financial fraud. ...
Max out your 401k for Retirement First? Or, Consider Other Investment Options First?
January 25, 2024 10:00 - 33 minutes - 47.2 MBAre you considering maxing out your 401(k) but unsure what to do next? We face this question all the time at the Sierens Financial Group so today we’ll explore if it’s wise to max out your 401(k) before investing anywhere else. Here’s some of what we discuss in this episode: 0:00 – Intro 2:44 – What’s on today’s show 4:33 – What’s in the news right now? Spot Bitcoin was just approved by the SEC. 8:40 – What should you know about Spot Bitcoin? 10:50 – An 85-year study from Har...
2024 Tax/Retirement Changes & Strategies
January 11, 2024 10:00 - 28 minutes - 40.2 MBIn today’s show, we’re going to share some crucial changes and strategies that will help you navigate your financial landscape in 2024. Scott will break down the latest adjustments you need to be aware of, from increased standard deductions to updates in Social Security and Medicare. We’ll also share some strategic tips and tactics to position your tax and retirement plans for success in the coming year. Here’s some of what we discuss in this episode: 0:00 – Intro 3:52 – What’s ne...
Tax Loss and Tax Gain Harvesting, Roth 401K Rules, Federal and State Tax Withholdings - Mailbag
December 21, 2023 10:00 - 32 minutes - 30 MBWe’re sharing this month’s mailbag episode a bit early, but we have 3 great listener questions lined up for today’s show! Miyuki asks if Scott can explain more about tax harvesting and how to take advantage of a stock loss. Lauren asks about the tax consequences of withdrawing from the Roth side of her 401(k) after 2023. Click play to see what you can learn! Here are the questions we discuss in this episode: Can you explain more about tax harvesting? I sold two individual stocks last ...
The Good, Bad & Ugly of How Technology Is Changing Retirement Planning
December 14, 2023 10:00 - 25 minutes - 24.1 MBFrom 24/7 TV channels dedicated to economic news to artificial intelligence, have the advancements in technology made you a financial guru or just more confused? Today, we’ll explore how technology is reshaping financial planning, for better and for worse. Here’s some of what we discuss in this episode: Google is a powerful tool for immediate information, but it’s important to use it with caution Online financial calculators are handy when used properly, but what if your inputs are ...
Patience Pays: The Power of Delayed Gratification
December 07, 2023 10:00 - 24 minutes - 22.8 MBIn a world where technology has placed instant gratification at our fingertips, it can be hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit, when you should really consider the delayed rewards… Here’s some of what we discuss in this episode: Passing up a 401K match Saving only in tax-deferred accounts Claiming Social Security ...
Social Security Penalties, Saving on Rollercoaster Income, Keep the Company Stock – Mailbag Episode
November 30, 2023 10:00 - 21 minutes - 20.6 MBIt’s the last week of the month, so you know what that means! We’re back with a new mailbag episode. We’ve got some great listener questions lined up for you today, so stick around to see what responses and strategies might apply to your situation and help improve your financial picture. Here are the questions we answer in this episode: I retired last month and started my state pension and Social Security. I’d like to do some part-time work, but I’ve heard that this can mess up my Soc...
The Future of Retirement In America: Is The Glass Half Full or Half Empty?
November 21, 2023 10:00 - 26 minutes - 25 MBAre we on the brink of a retirement renaissance or stormy seas ahead? In this episode, we jump into the pressing issues of Social Security, taxes, and the stock market. Whether you're an eternal optimist or cautious pessimist, this episode will equip you with perspectives to plan your retirement years with confidence as we ask the longstanding question, “is the glass half full or half empty.” Here’s some of what we discuss in this episode: The future stability of the Social Security s...
Overlooked Retirement Planning Topics
November 16, 2023 10:00 - 24 minutes - 23.1 MBThe retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these essential questions about retirement. Listen in as Scott sheds light on the potential coverage gaps and costs that might catch retirees off guard when it comes to Medicare. He also explo...
Financial Tweaks that Matter: Small Steps, Big Retirement Impacts
November 09, 2023 09:00 - 26 minutes - 25.1 MBEver thought that minor tweaks in your financial plan could lead to major wins? In this episode, we're exploring the surprisingly powerful world of simple financial adjustments. This episode is filled with straightforward changes that you can put into action now to generate positive effects on your financial life. Here’s some of what we discuss in this episode: Building up your rainy-day fund + Keeping the right amount of cash Ensuring your beneficiary designations are up-to-date an...
Universal Retirement Truths
November 02, 2023 09:00 - 24 minutes - 22 MBRetirement is a unique journey for each of us. The thought that there's a one-size-fits-all solution is a myth, but what if we told you there are certain universal truths that can guide every retiree? Dive deep in this episode, where we juxtapose the individuality of retirement plans with the foundational principles that remain consistent across the board. Here are the universal truths we discuss in this episode: Everyone needs an income plan No one can consistently time the stock m...
Use 401k or Alternative, Lump Sum or Stretch Out, Deductions for Charitable Gifts – Tax Mailbag Episode
October 26, 2023 09:00 - 31 minutes - 29 MBWe’re back for our third and final week of answering listener questions about year-end tax planning. These episodes are a unique opportunity for you to gain insights from real-world scenarios and inquiries shared by our listeners. In this installment, we're delving into the crucial concept of tax diversification, exploring methods to optimize your tax deductions for charitable contributions, and more. Here’s some of what we discuss in this episode: I’m 56 years old and plan to retire ...
IRMAA & Roth Conversions, Filing Separately, Lump Sum Withdrawals, Unexpected Income – Tax Planning Mailbag
October 19, 2023 09:00 - 33 minutes - 31.1 MBToday, we're diving into the listener mailbag once again, to answer your questions on tax planning and strategies for the year ahead. As we approach the end of the year, it's crucial to get your financial ducks in a row so that you can keep more of your hard-earned money. Scott offers valuable insights on whether to file taxes jointly or separately, how IRMAA can affect your Medicare premiums, tax surprises that can be caused by receiving unexpected income, and more. Here are the quest...
Roth IRA vs. Roth 403B, Is HSA a Fit, Reduce Tax on $1million + IRA – Tax Planning Mailbag
October 12, 2023 09:00 - 32 minutes - 29.9 MBAs we move into the fourth quarter of the year, let’s take a little time to focus on year-end tax planning. We’re opening up the listener mailbag and pulling out questions asking specifically about taxes and tax planning. We’ll be taking strategies and opportunities discussed last episode and apply them to certain real-life situations. No matter where you are today, use these questions today to see if you can take these strategies and utilize them in a similar situation to what we discu...
Year-End Retirement & Tax Planning
October 05, 2023 09:00 - 34 minutes - 32.3 MBAs we move into the fourth quarter of the year, now is the time to be looking ahead and determining what year-end tax planning and retirement planning opportunities and strategies might be available to you. Evaluating where you are today and making the necessary changes can have a very positive impact on your financial position moving forward. Regardless of your situation, this episode will help you identify some areas that you should be discussing with your financial advisor before the ye...
Pension Selection, Challenges of Age Gaps, The Forgotten Costs – Mailbag Episode
September 28, 2023 09:00 - 31 minutes - 29 MBIn today’s show, we’re going to open up the listener mailbag and answer questions about pension selections, questions about the challenges you could face if there’s an age gap between you and your spouse, and then discuss the hidden costs you might not be seeing in your retirement income. Each of these questions we’ll tackle today cover pretty common scenarios so you might find wondering about these down the road. Scott will provide some great thoughts and insight, recommendations, a...
Understanding RMDs: A Guide for Retirees & Pre-Retirees
September 21, 2023 09:00 - 29 minutes - 67.5 MBIn today's episode, we delve into a critical aspect of retirement planning that can significantly impact your financial future – Required Minimum Distributions (RMDs). Whether you've stashed your savings in a 401(k), 403(b), 457, IRA, SEP IRA, or simple IRA, understanding RMDs is crucial, especially if you're approaching your seventies. Join us as we discuss the "why" and "how much" of RMDs, ensuring you're well-prepared for this financial milestone. If you're not yet retired, we've...
Do you pay tax on an inheritance?
September 14, 2023 09:00 - 30 minutes - 28.9 MBAre you expecting an inheritance, or planning to pass down assets to your loved ones? It's crucial to understand the potential tax implications that come with it. In this episode, we’re diving deep into the world of inheritance taxes. Key discussion points in this episode: If you inherit real estate, the property's value is adjusted to its current market value when you receive it. If you sell it immediately, you may not incur much tax, but holding onto it could lead to tax liabilit...
Important Ages on the Retirement Journey
September 07, 2023 09:00 - 26 minutes - 25 MBMany say that age is just a number, but when it comes to retirement planning, age means much more than that. Join us in this insightful episode as we delve into the world of financial milestones that can significantly impact your retirement planning. From age 50 to 75, we uncover the strategies, opportunities, and pitfalls tied to these pivotal years. Learn why age isn't just a number when it comes to taxes, charitable giving, and required minimum distributions (RMDs), as Scott shares ho...
Move to Cash, Retirement Travel Spending, Real Estate & Taxes, Mortgage Tax Deduction – Mailbag Episode
August 31, 2023 09:00 - 35 minutes - 33.3 MBWe’re back with another mailbag episode today! Join us as we tackle a range of topics- from navigating investments during significant life changes to figuring out a retirement travel spending amount, this episode covers a lot of ground. Scott is here to answer your questions, so stick around to see what you can learn. Here are the questions we’ll answer on today’s show: I have a lot of major life changes occurring in the next six months that I think will affect how I should be inve...
Inflation, Recession & Retirement Impacts
August 24, 2023 09:00 - 34 minutes - 32.3 MBRecent headlines are buzzing with talk of inflation, recession, and their potential impact on your retirement plans. Should you be concerned? In this episode, Scott takes you through a comprehensive breakdown of these headlines and what they truly mean for your financial future. By understanding how inflation, recession, and Social Security interplay, you can better navigate the complexities of retirement planning and enjoy financial confidence in your golden years. Join us to learn why...
Ways the Richest Americans Avoid Taxes
August 17, 2023 09:00 - 32 minutes - 30 MBScott recently came across an article that discussed 8 ways the richest Americans avoid paying taxes. While many might think that these strategies wouldn’t apply to their financial situation, we’re going to discuss how you can apply these tactics to potentially reduce your taxes. Stay tuned as Scott breaks down these 8 strategies! Here are the 8 strategies that we’ll discuss: 1. No Taxes on Unrealized Capital Gains: Both billionaires and regular investors with investment gains can...
3 Overlooked Issues that Could Sink Your Retirement
August 10, 2023 09:00 - 27 minutes - 25.6 MBIn today’s episode, we’re diving into three often underestimated issues that could significantly impact your retirement plan. With valuable insight and practical strategies, Scott sheds light on how to overcome these challenges and secure a smoother financial future. Here are some key takeaways from this episode: Longevity's Wake-Up Call: Drawing from historical trends and technological advancements, Scott reveals how longer lifespans are reshaping retirement timelines. He explore...
Resolving Retirement Sources of Tension Between Couples
August 03, 2023 09:00 - 25 minutes - 23.9 MBMoney can't buy love, but it can certainly start some spicy debates between you and your better half. In this episode, we explore five money minefields that can test even the most solid relationships in retirement. Listen in as Scott shares some tips on how to resolve some of these common financial sources of tension and emphasizes the importance of open communication and compromise. Here are some areas that could cause tension between couples: When is the best time for you and yo...
Retire to Escape a Bad Job, Downsize Prior to Retirement, Gifting Now or Later, No Financial Worries – Mailbag Episode
July 27, 2023 09:00 - 24 minutes - 22.7 MBWe’re back with another mailbag episode for today’s show! We’re here to answer financial questions from listeners just like you. Stick around and see what strategies you can learn from today’s show. Eddie is 62 and hates his job but is making a great income. He asks if it would be a mistake to walk away from this job before retirement. Catherine asks if she should give some money to her grandkids while she’s still alive or wait until after she passes. Stay tuned as Scott explores the co...
Retirement Fears, Contribute During Recession, Banking On An Inheritance – Mailbag Episode
July 20, 2023 09:00 - 25 minutes - 24 MBThe journey to retirement can be turbulent, but with the right tools and knowledge, you can navigate this path with confidence. In today’s mailbag episode, we answer some listener questions about handling retirement contributions, fearing a recession, and banking on an inheritance for your retirement. Tune in as Scott discusses the importance of planning for the best and preparing for the worst in this episode and shares helpful strategies for navigating your retirement planning jou...
Not Your Parents' Retirement
July 13, 2023 09:00 - 18 minutes - 17.5 MBWho are you learning from when it comes to making sure your retirement plan is successful? If you’re of the age that your mom and dad retired 20 or 30 years ago, the world was a much different place when they walked away from their paychecks. Let’s talk about how things are different now… Here's what we’ll discuss in this episode: It’s okay to work beyond age 65 + why you should do what is best for your situation. (3:10) People are more active in retirement today and healthcare ...
Why You Should NOT Invest In A 401(k)
July 06, 2023 09:00 - 23 minutes - 21.9 MBDon’t get us wrong. In many cases, your 401(k) can be your best investment vehicle, offering numerous benefits and tax advantages and many times a 100% return on some of your contributions (also known as an employer match). However, it's important to recognize that it might not always be the optimal choice for everyone. Join us in this thought-provoking episode as we dissect 5 reasons why someone should NOT invest in a 401(k). Here's what we’ll discuss in this episode: If you don’t...
High Fees, Taxes on Social Security, Roth Alternatives, Keep or Sell the Farmland – Mailbag Episode
June 29, 2023 09:00 - 23 minutes - 22.5 MBIt’s the last week of the month, so we’re diving into the listener mailbag for today’s episode! Tune in as Scott answers some listener questions that have recently been sent into the show and see what knowledge you can gain from them. Stick around, because these strategies could be useful for your life or help you avoid financial mistakes in the future. Here's what we’ll discuss in this episode: Mailbag: Should I move my IRA away from a place that charges a 2.5% fee? (1:32) Ma...
Do You Need Life Insurance In Retirement?
June 22, 2023 09:00 - 33 minutes - 31.2 MBWe commonly get asked if life insurance is needed in retirement. With many advertisements and commercials emphasizing the importance of life insurance, this can be an understandably confusing topic. So, in today’s episode, we’re going to talk about the purpose of life insurance, explore the circumstances that warrant its need, and discuss what you can do with your policies if you find it unnecessary. Here's what we’ll discuss in this episode: What is life insurance and its purpose...
How Do I Get More Tax-Free Money?
June 15, 2023 09:00 - 23 minutes - 22.3 MBWho wouldn’t want extra cash in their pocket without having to pay taxes to the IRS? In today’s episode, Scott dives into the topic of getting more tax-free gains and shares valuable strategies for growing your wealth without paying hefty taxes. From contributing to a Roth 401(k) or SEP Roth to utilizing the backdoor Roth IRA process, Scott provides insights to help you make the most of tax-free gains. Here's what we’ll discuss in this episode: The current economy + Scott’s takeaw...
5 Big Money Mistakes In Retirement Planning
June 08, 2023 09:00 - 30 minutes - 28.3 MBNo one enjoys making mistakes, as they can result in wasted time and money and cause significant stress and frustration. In the complex world of retirement planning, there are countless pitfalls one could fall into if you aren’t properly prepared. In this episode, we’re going talk about the top 5 money mistakes that Scott often sees in retirement planning and how to avoid making them. Here's what we’ll discuss in this episode: Start strategizing about your future taxes in reti...
Can I work and Collect Social Security? Will There Be a Penalty?
June 01, 2023 09:00 - 25 minutes - 23.6 MBIn this episode, we dive into a common question: Can you work and receive a wage income while collecting Social Security? The answer may surprise you, as it's yes, maybe, and no. Join us as we explore each response in detail, discussing whether your benefits would be reduced and uncovering ways to reclaim any deductions. Additionally, we'll discuss four key ingredients to consider when deciding the optimal time to take your Social Security benefits. Here's what we’ll discuss in this ...
Ep 105: Paying Off the Mortgage, Convincing a Spouse to Retire, Taxes on Inheritance - Mailbag Episode
May 25, 2023 09:00 - 33 minutes - 31.3 MBIn today’s episode, we continue discussing and answering listener questions we’ve received. Scott will answer questions on paying off your home mortgage, navigating retirement discussions with your partner, and leaving behind an inheritance for your children. Listen in as you may find yourself asking a similar question, in a similar scenario, or able to take the strategies discussed to help improve your financial picture! Here's what we’ll discuss in this episode: Mailbag- Shou...
Are You Planning For THIS Retirement Cost?
May 18, 2023 09:00 - 23 minutes - 22.1 MBEffective retirement planning involves not only knowing your sources of income, such as Social Security but also having a clear understanding of the expenses that will be incurred from that income. It's very important to consider all potential costs to ensure a comfortable retirement. In Scott’s experience, there is one cost that many individuals tend to overlook or underestimate, and that's what we'll be discussing in today's episode. Here's what we’ll discuss in this episode: Ar...
Ep 103: Eye-Opening Results of the 2023 Retirement Confidence Survey
May 11, 2023 09:00 - 35 minutes - 33.3 MBIn today's episode, we are going to look at the results of the 2023 Retirement Confidence Survey. Join us as Scott unpacks these surprising statistics, shares his takeaways, and reveals the insights they provide when it comes to retirement planning. Whether you are nearing retirement or have already retired, this episode is packed with valuable information. Here's what we’ll discuss in this episode: Survey one’s results, which compares expected retirement expenses to the actual ...
Ep 102: 7 Pre-Retirement Tax Questions in 2023
May 04, 2023 09:00 - 26 minutes - 25.3 MBRetirement can come with a lot of tax questions and concerns. From understanding the tax implications of withdrawing from your retirement accounts to minimizing taxes on investment income, it can be overwhelming. In today’s episode, we’ll break down the 7 tax questions that people approaching retirement are asking. Here are a few lessons that we’ll discuss in this episode: What are the tax implications of withdrawing money from different retirement accounts? (4:16) Does the taxat...
Ep 101: Roth Income Limits, Roth Conversions, Extra Savings And Spousal Social Security - Mailbag Episode
April 27, 2023 09:00 - 23 minutes - 22.4 MBWe’re going to dive into some listener questions today! In this mailbag episode, we’ll discuss the differences between Roth conversions and Roth contributions and clarify which of these options have income limits. We will also explore what to do if your 401k contributions are already maxed out. We’ll then wrap up with an insightful discussion on spousal Social Security benefits. Here are a few lessons that we’ll discuss in this episode: The difference between Roth conversions and ...
Ep 100: 10 Lessons From Successful Retirees
April 20, 2023 09:00 - 34 minutes - 31.2 MBTo celebrate our 100th episode of the podcast, we’re going to share 10 lessons from retirees to help you and your retirement plan. These tips will help you build wealth, reduce stress during the planning process and retire with confidence. So, whether you’re retired or not, this episode will be packed with valuable lessons for folks of all ages. Here are a few lessons that we’ll discuss in this episode: Savings rate versus return rate. (4:08) Tax diversification creates flexibi...
Ep 99: Is A 401(k) The Right Savings Tool For Retirement?
April 13, 2023 09:00 - 26 minutes - 24.7 MBWhen it comes to saving for retirement, many people automatically turn to the 401(k) as their go-to account. But is it really the best option for everyone? While the 401(k) is certainly a powerful tool, it may not be the best choice for all your retirement savings. In this episode, we'll explore the pros and cons of 401(k) plans and introduce alternative retirement savings options that can help diversify your portfolio and provide flexibility for your retirement. Here’s some of what ...
Ep 98: Financial Planning Considerations When Between Jobs
April 06, 2023 09:00 - 24 minutes - 23.5 MBFinding yourself between jobs can be frustrating. Whether you were fired, laid off, or just had to step away of your own choosing, change can feel challenging, but can also present exciting opportunities. In today’s episode, we’re going to talk about changing careers and cover five financial planning considerations when transitioning into a new job. Here’s some of what you’ll learn in this episode: It is time for a new career in a new industry? Or time to work for yourself? Some quest...
Ep 97: Inheritance Distributions, Combining 401ks, Investing for Inflation & Retirement – Mailbag Episode
March 30, 2023 09:00 - 30 minutes - 28.4 MBIn this episode, we’re opening up the listener mailbag to answer questions about distributions that you might need to take from an inheritance, combining old 401ks into an IRA, and how to invest for inflation and how to invest if you’re on the doorstep of retirement. Here’s some of what you’ll learn on this episode: An explanation of what inflation is and how it works. 3:10 Why you need to have equities in your portfolio to help combat inflation over time. 6:15 The three th...
Ep 96: Are You Ignoring The Impact Of RMDs On Your Retirement?
March 23, 2023 09:02 - 30 minutes - 28.1 MBDid you know the government is going to force you to take money out of some of your retirement accounts as you get older, even if you don’t want to? In today’s episode, we talk about what required minimum distributions are, why they exist and when they might start for you. Ignoring them could lead to major taxes issues down the road that might be difficult to overcome. Here’s some of what you’ll learn on this episode: When you ignore RMDs and don’t properly plan for them, it could...
Ep 95: Last Minute Tax Tips Before Filing
March 16, 2023 10:02 - 20 minutes - 19.4 MBIf you’re looking for some last-minute tax tips before filing your 2022 taxes, this episode is for you. We’re going to talk about strategies you can utilize to reduce your taxes for last year or utilize to get some tax-free money growing for your future. Here’s some of what you’ll learn on this episode: The first strategy is being able to make contributions to your IRA. (3:41) The second strategy is making a contribution to the Roth IRA. (7:10) The third strategy is making s...
Ep 94: 5 Expenses Typically Missed in Planning for Retirement
March 09, 2023 10:05 - 31 minutes - 29 MBWhenever we first start talking to someone about what they’re going to need for retirement, we usually hear some of the same answers. They’ll name some of the basics like mortgage and utilities and then run through the fun stuff like travel and hobbies. But too often, there are five expenses that people typically miss when planning for their retirement, and that’s what we’re going to talk about today. Here’s more of what you’ll learn on this episode: Healthcare expenses in retirem...