In retirement, healthcare costs can quickly become one of the biggest risks to your nest egg, making it essential to stay informed about changes in Medicare and review your plan annually. As Medicare introduces key changes for 2025, understanding these updates is crucial for making well-informed decisions that protect both your health and financial future. In this episode, we dive into three essential updates to Medicare that will help you navigate these shifts and ensure your coverage aligns wi...
Nov 02, 2024•29 min
Planning to retire before 65? Health insurance is likely one of your biggest concerns as you bridge the gap before Medicare kicks in. In this episode of Financial Breakaway, I dive into the essential strategies for managing healthcare costs during those early retirement years. From understanding COBRA and Marketplace insurance options to minimizing taxable income for maximum subsidies, I’ll cover it all. Topics include: 1. Health insurance options before Medicare 2. Navigating the Health Insuran...
Sep 07, 2024•9 min
Healthcare in retirement is deeply personal. After all, it's not just about managing costs; it’s about ensuring you can enjoy the quality of life you’ve worked so hard to build. While money and investments are often front of mind, securing the right healthcare plan is just as critical for living well in retirement. And yes, the reality is—it’s going to be expensive. In today’s episode of Financial Breakaway, I’m covering the 7 essential steps to navigating your retirement healthcare. From unders...
Sep 06, 2024•19 min
Imagine a retirement filled with beach strolls and golf course mornings. But lurking in the backdrop is an often underestimated challenge: Taxes! This uninvited guest can cast a shadow over your financial dreams, but you're not alone. On today's episode of "Financial Breakaway," we're turning tax confusion into tax mastery. We'll skip the dry numbers and dive into actionable strategies to help you keep more of your hard-earned savings. You'll learn how to dance around tax pitfalls with ease and ...
Apr 29, 2024•22 min
We currently find ourselves amid a presidential election year (whether we like it or not), and political headlines already dominate the news, sparking questions and concerns about how election outcomes might impact retirement and investment plans. As a Financial Planner, I often get clients coming to me and asking how the elections may affect their portfolios or retirement savings. And it's safe to say I've heard all the theories, and I mean all the theories, about who's better or who's worse fo...
Mar 12, 2024•15 min
In this episode, I talk with Economist Bryce Gill of First Trust Portfolios on pivotal market trends of 2023 and look ahead to what 2024 holds for investors. Tune in for a rich discussion on the stock and bond markets, recession risks, and the intricate relationship between the markets and the economy. Topics discussed: Insights into 2023's stock market, featuring the 'Magnificent 7' stocks Market outlook for 2024 Analyzing the potential risks of recession Deciphering the differences between mar...
Jan 02, 2024•32 min
Join me on this episode of the Financial Breakaway Podcast as we dive deep into "Social Security Essentials: 3 Must-Know Topics for Effective Retirement Planning." As you near retirement, it's crucial to understand the intricacies of Social Security and how it fits into your overall financial plan. I'll guide you through the complexities and strategies to make the most of your Social Security benefits. In this episode, we'll cover: • 🕒 My insights on the Optimal Claiming Age: Weighing the benef...
Dec 01, 2023•18 min
Join me as I help unlock the secrets of the "Bucket Approach" to retirement planning. After decades of diligent savings, are you prepared to transition from the accumulation phase of your life to the distribution phase? This episode sheds light on the challenges retirees face and offers a structured solution to ensure your investments serve you effectively throughout your golden years. Dive into: • 📈 The shift from career mode to retirement mode and its challenges. • 💡 Basics of the "Bucket Ap...
Nov 22, 2023•18 min
Join me in this episode as I unravel the mystery behind retirement planning by addressing the fundamental question: "How much do I need to retire?" I dive into the complexities of retirement income planning and offer a unique perspective on determining your retirement needs. By examining the three distinct stages of retirement—Go-Go, Slow-Go, and No-Go—I provide a framework for understanding the changing financial demands of each phase. Gain valuable insights on how to align your financial resou...
Nov 01, 2023•8 min
In today's special pre-launch episode, I have some thrilling news! "The Financial Breakaway Podcast" is relaunching with a fresh focus: "Your Clear Path to Retirement." Since its humble beginnings in 2019, this podcast has grown immensely, achieving 30 episodes and garnering thousands of downloads. Your valuable feedback, combined with my passion for financial planning, has inspired a refined vision for the podcast. The content will now prioritize empowering individuals like you with the knowled...
Oct 05, 2023•5 min
00:45 - Intro 01:45 - Observation 1: Inflation hurts retirees more 2:20 – Sidetrack: What is Inflation? 05:30 - What can we learn: Find your own “Personal Inflation Rate” 08:31 - Observation 2: Social Security COLA adjustment isn’t as advertised 10:45 - What can we learn: How to figure out what your NET Social Security COLA really is 13:52 - Observation 3: The biggest risk for retirees is happening to people for the first time in a long time 17:00 - What can we learn: Strategies to protect again...
Oct 13, 2022•22 min
2022 has been a tough year all around. So in this episode, I'm breaking down three observations I've seen so far in 2022 for mid-career individuals and what we can learn from those observations. I try to explore these observations and lessons learned through a financial planning lens for the everyday person. 01:00 - Intro 02:20 - Observation 1: Traditional backup savings plans don't cut it 03:25 - What can we learn: How to create a good backup plan AND a backup, backup plan 05:22 - Observation 2...
Oct 07, 2022•13 min
2022 has been a tough year all around for people. Headwinds such as the lingering effects of COVID-19, rising interest rates, rising inflation, rising commodity prices, the Russia/Ukraine War, falling stock and bond market, and then an economy that seems to be having a hangover in general. It has been a lot. With all this going on, it has been hard to conceptualize how it all works together and how it affects you financially (you as an everyday person). In this episode, I'm breaking down three o...
Sep 30, 2022•14 min
Conversation between Ryan Hitchcock, Financial Planner at Hight Point Capital Group, and Bryce Gill, Economist at First Trust: 02:45 - Intro on Inflation & Market 04:45 - Great Moderation or Globalization Long-term inflation outlook Supply chain War in Europe 12:50 - Fed and interest rates 14:45 - The Monetary Tailwind is Ebbing M2 Money Supply Stagflation 18:30 - YOU SHOULD LISTEN TO THIS PART! 24:30 - A Recession Unlike Any Other 30:20 - Services Can Keep US Out of Recession: 39:30 - Housi...
Jul 08, 2022•49 min
Investing in the New Normal Series -- COVID-related shutdowns distorted the economy vs where it was before COVID and we are still trying to adapt to this world. The question now is; how do we, as investors trying to save for our future, navigate and invest in it? Let's learn from real people living and working in this "new normal" to help provide a unique perspective on what's going on. Early on in the COVID crisis gyms and fitness facilities were closing at higher rates than almost any other in...
Jun 01, 2022•33 min
Investing in the New Normal Series -- COVID-related shutdowns distorted the economy vs where it was before COVID and we are still trying to adapt to this world. The question now is; how do we, as investors trying to save for our future, navigate and invest in it? Let's learn from real people living and working in this "new normal" to help provide a unique perspective on what's going on. People are spending more time listening to podcasts, more and more podcasts are being produced, and because of...
Jun 01, 2022•30 min
In this introductory episode of Investing in the New Normal Series, I talk about what this New Normal is and how we as a world got here. COVID-related shutdowns distorted the economy vs where it was before COVID and we are still trying to adapt to this world. The question now is; how do we, as investors trying to save for our future, navigate and invest in it? --- For more information: - Ryan Hitchcock: www.rhitch.com Ryan Hitchcock Financial Planner High Point Capital Group Direct: 414-253-4611...
May 31, 2022•7 min
Investing in the New Normal Series -- COVID-related shutdowns distorted the economy vs where it was before COVID and we are still trying to adapt to this world. The question now is; how do we, as investors trying to save for our future, navigate and invest in it? Let's learn from real people living and working in this "new normal" to help provide a unique perspective on what's going on. The Great Resignation is a term coined in the new normal world referring to the phenomenon of a large volume o...
May 31, 2022•32 min
In this special Thematic Investing Series episode, we go beyond buzzwords in the media with my guests, Mark Schwartz and Nick Cucci. Mark advises early-stage startups and co-founded PDT, a Chicago-based product development firm. Nick leads business development at PDT and helps clients identify new opportunities for innovation. Mark and Nick were perfect guests to follow up my Thematic Investing Series, diving deeper into common buzzwords like “innovation” or “disruption” and the confusion I see ...
Mar 25, 2022•1 hr 3 min
Thematic Investing Series -- FINALE! SPECIAL GUESTS my Dad, Mike Hitchcock, & brother, Brett Hitchcock! Mike is President of Montana Broom & Brush Co, and Brett is the Regional Sales Manager for Jon-Don. One might not normally lump the JanSan industry into today’s view of “thematic investing” as it’s usually not first to mind when buzzwords like “innovation” or “disruption” come up. However, that's exactly why I wanted to do this episode because the professional cleaning industry supplie...
Jan 23, 2022•53 min
Thematic Investing Series -- going beyond the buzzwords of the media with my guest, Brian Meidam, Founder & Owner of Plan B Homebuyers. Plan B Homebuyers buys houses with cash to provide people an option for a fast homebuying process. They also do direct seller marketing and direct lending for real estate investors. Brian has a wealth of knowledge in all areas of the real estate industry, so in this episode nothing was off the table for conversation. He gave us his view on the current state ...
Jan 22, 2022•57 min
Thematic Investing Series -- going beyond the buzzwords of the media with my guest, Tommy Ludan, Founder & Owner of Carcade, Inc. a mobile gaming and entertainment company. In this episode, Tommy helps us understand that the gaming industry is not just for the younger generation playing alone in their homes anymore. Rather it is one of cross generational adoption with a great sense of community and social interaction at its core. With the recent popularity of streaming gaming platforms, Tomm...
Jan 21, 2022•38 min
Thematic Investing Series -- going beyond the buzzwords of the media with my guest, Roy Dietsch. Roy is the Founder and Owner of PartsBadger a local Milwaukee online CNC machine shop that was listed in Inc.’s Magazine as the 525th fastest growing private companies in the country in 2021. In this episode, Roy helps us understand the current state of the Automation & Robotics industry by sharing how he used those concepts to his advantage to upend the traditional process of machining parts. Ge...
Jan 20, 2022•45 min
Thematic Investing Series -- going beyond the buzzwords of the media with my guest, Josh Delaney, Founder of FAB CBD one of the most recognized and leading CBD e-commerce retailers in the world. In this episode, we really dig deep into Josh’s experiences in the very interesting CBD industry. Being a serial entrepreneur, he shares some great insights on the history of the industry and where he sees it going in the future. We discussed the characteristics of the expanding end-user of CBD products,...
Jan 19, 2022•1 hr 4 min
Thematic Investing Series -- going beyond the buzzwords of the media with my guest, Nico Bartolomeo, Senior Technical Consultant, Cloud Security for Kalypso (A Rockwell Automation Company). In this episode, Nico helps us understand what's really going on in the Cybersecurity industry from his experiences. He discusses where he sees the industry going in the future for both corporations and individuals, recent attacks such as Colonial Pipeline & CNA Financial, cyber threats we should all be a...
Jan 18, 2022•1 hr 2 min
If you hear “Thematic Investing” these days it’s usually followed up by other terms like “innovation, disruption, next-gen, etc, etc”. Is that all Thematic investing is or is there more to the story? Media talks about it all day, some good talking points some bad; but why? Does this concept have a place in investment portfolios or is it just a buzzword of this point in time? I set out to answer just that and give my take on this trend and how I think the everyday person should view Thematic Inve...
Jan 17, 2022•11 min
This episode will be a continuation from my previous episode on the S&P 500 Index. Here I’m going to talk about the Dow 30 Index and how I also see a lot of misunderstanding about this index or just plain wrong understanding of it. I'll talk about how it actually works and throw in a little history about it as well. Then I really get into how the Dow 30 has become the headline of most news outlets as the barometer of the market, and I'll argue that there's a huge disconnect between this and ...
Oct 28, 2021•14 min
I am quite passionate about this topic as it starts to get to the root of my overall investment philosophy. When you go about building an investment portfolio there are basically two conflicting concepts of how to do that “indexing vs active management” and I'm here to say that S&P 500 index funds are NOT diversified like most people think because of how the index is actually calculated. In this episode we'll talk how that is, what a market capitalization weighted index really means, and how...
Sep 08, 2021•11 min
In this episode I want to take a step back to the basics of investing and remember why we invest. A lot of times I see people get hung up on trying to figure out the best stock, the best ETF, the best mutual fund or the best investment strategy...you name it...which are all important but I see people fail to really grasp what you actually are doing when you invest and why you do it? And the answer to that is, you are really trying to take advantage of compound interest, yes, the magical world of...
Jul 15, 2021•12 min
The Mega Backdoor Roth is a special type of 401(k) saving strategy used by people with higher incomes to get nearly triple the amount of funds into their 401(k), while converting a good portion of them to Roth right away. This little-known strategy works under very particular circumstances for people with plenty of extra money they would like to stash in Roth. Show Notes: Jane is 45 years old, makes 150,000 a year in income. Single filer for taxes which puts her over the Roth IRA contribution li...
May 06, 2021•10 min
