In this special episode of the Retirement Made Easy podcast, I revisit some of the most commonly asked—and popular—questions from 2023. We’ll tackle everything from capital gains tax to tax mapping for my clients. As tax-filing season comes to an end, these are some important things to keep in mind. Give it a listen! You will want to hear this episode if you are interested in... [1:33] Question #1: How does a capital gains tax work? [3:39] Question #2: Did contribution limits increase? [5:20] Qu...
Mar 17, 2024•16 min•Ep. 160
What factors go into the social security claiming decision? How do strategies differ based on your age, health, and marital status? Where do you even start? Social security planning is often neglected—or at the very least not given the attention it deserves. In this episode of the Retirement Made Easy podcast, I hope to start the conversation about Social Security claiming strategies. I want each of you to be able to make an informed decision with your financial planner. Hit the play button to l...
Feb 29, 2024•23 min•Ep. 159
What happens if you start collecting Social Security payments but feel like you’ve made a mistake or taken it too early? Did you know that you can stop or suspend the benefits? Secondly, when you start collecting Social Security there’s an option for a lump-sum payment. Learn more about this little-known Social Security strategy in this episode of Retirement Made Easy! And as a bonus, I’ll answer three listener questions! You will want to hear this episode if you are interested in... [2:08] Subm...
Feb 15, 2024•29 min•Ep. 158
Most “Top 10 Mistakes You’re Making in Retirement” articles are vague, mostly common sense, and of little use to their readers. And when you read these articles, you have to consider the source. A bank is never going to tell you that having debt in your retirement is a mistake because they want to sell you loans! I wanted to share mistakes that I see every single day working in my firm—mistakes that you won’t find in most articles. 90% of our clients are 55 and older working toward their dream r...
Jan 31, 2024•27 min•Ep. 157
What are required minimum distributions (RMDs)? How will they impact you? How do we account for them? Too many financial advisors neglect to help their clients plan for RMDs. I am not one of them. I cover the basics that you need to know in this episode of Retirement Made Easy. You will want to hear this episode if you are interested in... [1:54] Carefully choose the people you take advice from [5:29] Something you need to know about 401ks [9:47] The basics of required minimum distributions [13:...
Jan 17, 2024•24 min•Ep. 156
Let’s wrap up 2023—and kick off 2024—with another round of your questions, answered! In this episode of the Retirement Made Easy podcast, I’ll answer six listener questions, covering everything from how severance pay is taxed to how the pop-up feature on pensions work. I’ll also share my thoughts on what 2024 has in store. Give it a listen! You will want to hear this episode if you are interested in... [2:07] Question #1: What happens to unvested 401k money? [5:31] Question #2: How is severance ...
Dec 31, 2023•25 min•Ep. 155
What are 5 ways you can prepare for retirement? Why can actively managed funds be risky in retirement? How does a divorce impact your social security? In the last two episodes of 2023, I plan on answering some amazing listener questions, including these. Listen to this episode of Retirement Made Easy for some rapid-fire answers to your questions. You will want to hear this episode if you are interested in... [2:40] Question #1: 5 Ways to prepare for retirement [7:02] Question #2: The risks of ac...
Dec 15, 2023•21 min•Ep. 154
I’ve received numerous questions all running along the same theme: Are we heading into a recession? What would it mean for the stock market moving forward? How will it impact your retirement? Many of you are concerned that we’ll be entering a recession in 2024. In this episode of the Retirement Made Easy podcast, I’ll cover what a recession is, the trends we’re seeing, and what the stock market teaches us about investing. Don’t miss it! You will want to hear this episode if you are interested in...
Nov 30, 2023•22 min•Ep. 153
Are you on the same page as your spouse when it comes to retirement planning? Do you both understand your retirement plan? Even if one of you handles the finances, both of you need to understand the ins and outs of your retirement plan. It’s inherently important. How do we develop a plan that everyone understands that makes sense ? That’s what I’ll cover in this episode of Retirement Made Easy. You will want to hear this episode if you are interested in... [4:21] Why your spouse needs to be invo...
Nov 15, 2023•24 min•Ep. 152
What could go wrong in retirement? What if the “what-ifs” become realities? How will it impact your 30-year retirement? We don’t know what the future holds which is why it’s important to think about the variables. There will be things outside your control but you can reduce risks by taking retirement planning seriously. No one plans on “failing” at retirement but many people fail to plan ahead of time. But the choices you make will have long-lasting implications. You need a game plan in place. I...
Oct 31, 2023•27 min•Ep. 151
Social Security isn’t likely intentionally misleading us but they are leaving out some details that every person contemplating retirement needs to know. Social Security announced the cost of living adjustment for 2024: 3.2%. This will go into effect 1/1/2024. However, your benefit won’t likely go up the full 3.2%. Why? I’ll share the answer in this episode of Retirement Made Easy. You will want to hear this episode if you are interested in... [1:48] Check out RetirementMadeEasyPodcast.com! [2:47...
Oct 19, 2023•22 min•Ep. 150
What is the assumed life expectancy for retirement? What accounts can you open for your grandchildren? Should everyone follow the 60/40 rule? The questions have been rolling in! So in this episode of the Retirement Made Easy podcast, I’ll answer some questions and give you a starting place for a conversation with your retirement planner. You will want to hear this episode if you are interested in... [3:09] Question #1: What is the assumed life expectancy for retirement? [6:22] Question #2: Why n...
Sep 28, 2023•23 min•Ep. 149
Where do you want your assets to go when you’re no longer here? I know it may seem morbid, but this is an important part of retirement planning that most people neglect. But the heart of the matter is your family. What do you want to leave behind? Or do you want to leave money to your favorite charities? Doing what I do for a living, I have these tough conversations every day. It’s my job to make recommendations to make sure your wishes are carried out seamlessly and tax-efficiently. In this epi...
Sep 05, 2023•20 min•Ep. 148
In 2019, there were 61.5 million people on Medicare. By 2027, it’s estimated that 75 million Americans will be on Medicare. That’s just four years from now. The #1 reason that people push off retirement is because health insurance is t oo expensive . Do you know what you’ll be paying for health insurance when you retire and get on Medicare? Medicare is multi-faceted. It can be complicated to understand. So in this episode of Retirement Made Easy, I’ll break down the very basics of Medicare plann...
Aug 25, 2023•21 min•Ep. 147
How will things change for those saving for retirement in 2024? What is the estimated cost of living adjustment going to be? Do you think you’re on track for a comfortable retirement? These are the questions I discuss in this episode of the Retirement Made Easy podcast. If you’re planning for your dream retirement, these are things you need to know. Don’t miss it! You will want to hear this episode if you are interested in... [1:37] Check out RetirementMadeEasyPodcast.com [2:20] Changes to the c...
Aug 05, 2023•25 min•Ep. 146
What will make or break your retirement plan? What makes a plan weak or unrealistic? What needs to be factored into the overall strategy? How do we build a great retirement plan? A retirement plan isn’t just reviewing your investment statements. A far greater level of detail is required to make sure your dream retirement isn’t just a dream—but a reality. So in this episode of Retirement Made Easy, I share a high-level overview of what we do to build a great retirement plan. You will want to hear...
Jul 20, 2023•28 min•Ep. 145
Can you convert a beneficiary IRA to a Roth IRA? Can you roll a 401k into a 403B? What about alternative investments—are they worth the risk? The questions have been rolling in, so in this episode of the Retirement Made Easy podcast, I’m tackling some of the most asked questions I’ve received. Don’t miss it! You will want to hear this episode if you are interested in... [4:19] Question #1: Can you convert an inherited IRA to a Roth IRA? [7:44] Question #2: Can you roll a 401k into a 403B? [12:45...
Jun 30, 2023•25 min•Ep. 144
I’ve had numerous people ask me about managing their income in retirement. Your income in retirement will be different from everyone else’s, unique to you. But what sources can you draw from? What will it look like? How do you plan for it? Where can you go wrong? I’ll start to dissect each of these topics in this episode of Retirement Made Easy. I’ll lay out some of the important things you need to keep in mind as you manage your retirement income. Check it out! #Retire #Retirement #RetirementPl...
Jun 22, 2023•24 min•Ep. 143
Emotions are often the drivers of our financial decisions. This year we’ve seen record inflation. The Fed continues to raise interest rates. There is a banking crisis. Then there’s the discussion of whether or not we’re in a recession. Many people have wiped their savings and emergency funds and have held them as cash because they’re worried their bank or credit union might fail. 2024 is another election year. But a lot of this is noise. The market will always fluctuate because of numerous facto...
May 26, 2023•25 min•Ep. 142
Everyone is likely familiar with 401k plans and many people have them through an employer. But do you know anything beyond the very basics? Does your company offer a match (and do you know how it works)? Do you know how much your plan costs or what your balance is? In this episode of Retirement Made Easy, I’m going to start covering some of the ins and outs of 401k plans. My hope is that you’ll gain a better understanding of something so important to a successful retirement. You will want to hea...
May 11, 2023•27 min•Ep. 141
Tax planning is different when you’re retired versus during your working years. It also changes from state to state. Some states are more tax-friendly than others. That’s why many people retire in Florida, Tennessee, and Texas. Taxes matter in the decisions that we make. However, you can take tax planning too far. In this episode of the Retirement Made Easy podcast, I cover assessing the quality of your assets, why you can’t let taxes dictate everything you do, and something to watch out for whe...
Apr 25, 2023•27 min•Ep. 140
Listener questions have been piling up and a Q&A is LONG overdue. So in this episode of the Retirement Made Easy podcast, I’ll cover as many questions as I can. I’ll cover everything from Medicare Part B to SEP IRAs, and the impact of inflation to collecting Social Security benefits. Don’t miss this comprehensive episode! <<<<<<<<<<<<<<>>>>>>>>>>>>>>> You will want to hear this episode if you are intereste...
Apr 07, 2023•28 min•Ep. 139
The Social Security Expansion Act is being introduced to congress, sponsored by Bernie Sanders, with the “goal” of increasing the solvency of the Social Security fund. Sadly, by 2035, Social Security benefits will have to be reduced by 25% if nothing is done. Senator Elizabeth Warren states that the Social Security trust fund would remain solvent until 2096 if these changes are put into place. But a lot of the proposed changes in the bill are controversial, to say the least—including how they pr...
Mar 20, 2023•22 min•Ep. 138
When you retire, where does your income come from? How frequently will you get “paid?” Can you choose when you’ll get social security income? In this episode of the Retirement Made Easy podcast, I’ll cover how income works in retirement and what you’re able to “customize” to you. I’ll also cover some listener questions regarding social security and who you should trust. Don’t miss it! You will want to hear this episode if you are interested in... [1:50] Where does your retirement income come fro...
Mar 05, 2023•25 min•Ep. 137
There’s a lot of misunderstanding circulating regarding social security claiming strategies with spousal and survivor benefits. Spousal benefits and survivor benefits can be confusing and difficult to understand. So in this episode of Retirement Made Easy, I’m going to tackle this topic. I’ll also cover the FairTax Act of 2023 and why you shouldn’t make changes to your retirement planning based on this act just yet. Don’t miss this informative episode! You will want to hear this episode if you a...
Feb 20, 2023•24 min•Ep. 136
What does your dream retirement look like? What will make you happy? What are you working to achieve? Your goals don’t have to sound good to other people. They’re your goals. They’re based on your dreams. To reach your dream retirement, you have to figure out what you want and set specific goals to get there. You also can’t let emotions rule your decision-making. In this episode of the Retirement Made Easy podcast, I’ll share some insights from Vanguard and LPL financial’s 2023 market reports. B...
Feb 02, 2023•21 min•Ep. 135
It can be hard to look back at 2022 and see anything positive, right? Inflation is the highest it’s been in 40 years. The stock market had a volatile year and many people’s investments are down. But the market conditions allowed us to do some positive things we normally couldn’t. In this episode of Retirement Made Easy, I share 6 ways that we helped clients find some wins in 2022. You will want to hear this episode if you are interested in... [1:23] LPL Financial 2023 Market Outlook [2:34] Get a...
Jan 26, 2023•24 min•Ep. 134
The beginning of a new year is a great time to review what you should and shouldn’t be doing. That’s why in this special retirement replay edition of the Retirement Made Easy podcast, we’re revisiting episode #110: The Great 8 IRA Mistakes that WILL Cost You Money . This episode covers 8 things you should be mindful of as we dive into 2023: If you’re a non-working spouse, take advantage of the spousal IRA option that’s available to you (you and your spouse can each contribute up to $7,000 per ye...
Jan 19, 2023•23 min•Ep. 133
I’ve been talking about this bill for well over six months and it finally passed in December of 2022 as part of a $1.7 trillion-dollar package. So in this episode of Retirement Made Easy, I’ll cover the nine core provisions that are changing and what it means for everyone. There are some changes that I’ve been campaigning for and there are others that just don’t make sense. Many of the provisions don’t start until 2024 or 2025 to give administrators some time to get systems in place. Learn how i...
Jan 12, 2023•31 min•Ep. 132
How is a fiduciary different? What can you expect to pay a CFP? How does capital gains tax work? Did contribution limits increase? In the first episode of 2023, I’m going to revisit some important listener questions from the last few months. They’re important things to remember as we enter tax planning season. Check it out! You will want to hear this episode if you are interested in... [0:40] Listener Question #1: How is a fiduciary different? [2:29] Listener Question #2: What can you expect to ...
Jan 05, 2023•21 min•Ep. 131
