The fiscal gap is the difference between the unrecorded liabilities, America is responsible for the expected assets the government plans to have available when these liabilities come due. These are liabilities that are not currently included on the financial statements of the government. And when you take into consideration liabilities, such as Social Security, Medicare and the national debt, the fiscal gap is almost incomprehensible... Support the show...
Jul 31, 2020•23 min•Season 2Ep. 16
I will be talking about state taxes. What you can do to choose the right state in retirement to help you reduce your overall tax rate risk. When it comes to picking a place to live in retirement taxes very seldom hit the top five reasons of any published list. In fact, the top five reasons most people choose to live where they do in retirement are the following. Number one is neighborhood safety. Retirees want to make sure they live in a place they can feel safe. They're at a point in their life...
Jul 24, 2020•34 min•Season 2Ep. 15
In this episode we are talking about Roth Conversions and what you should consider before you do a Roth Conversion. To get to the point..do it sooner than later. Support the show
Jul 17, 2020•35 min
A long term care event is one of the biggest risks most people will face in retirement. You may be asking, Is this really true? And if so, why? The answer to the first question is yes, it is true. Over 70% of retirees who lived the life expectancy will be faced with some type of long term care event. Now to question number two, the reason why. The reason so many retirees will be faced with a long term care event is because of longevity. Now, the great news is we're living longer today than our p...
Jul 10, 2020•27 min•Season 2Ep. 13
Episode 12 is all about annuities. Yes, you heard me right. I did just say one of the most hated words in all of retirement. For those of you who have had a bad experience with annuities in the past, or have misgivings towards them, I invite you to listen to the show and give me a chance to help you better understand why even many financial planners who have been against annuities for decades are finally changing their tune. And I'll give you a hint. It has a lot to do with the fact we're all li...
Jul 03, 2020•27 min•Season 2Ep. 12
In today's show, I'm going to be talking about 10 myths that exist regarding the US national debt. Now the general theme for this podcast was derived from a video that was done by Antony Davies of Duquesne University. It was done about two and a half years ago. But be aware that this podcast has been adapted to meet the issues that we're currently facing. Support the show
Jun 26, 2020•30 min•Season 2Ep. 11
We are talking about the two main risks of Social Security today. #1 is the risk of taking your social security too early and #2 is that your social security will be taxable. In fact today we're going to focus on the second risk that faces you regarding your Social Security and that is that your social security will be taxable. Now, when it comes to talking about Social Security tax, this is an area that many people often say why it's one of those taxes very much like an estate tax. Why do we ha...
Jun 19, 2020•26 min•Season 2Ep. 10
We are talking about the two main risks of Social Security today. #1 is the risk of taking your social security too early and #2 is that your social security will be taxable. In fact today we're only going to focus on one of the risks that it faces you regarding your Social Security. Next week's show will be a follow up show to address risk #2 It is very important to understand the history of Social Security. Social Security was brought about in 1935 by President Roosevelt as part of the New Dea...
Jun 12, 2020•31 min•Season 2Ep. 9
I'm here to tell you that if done correctly, life insurance can be a very important part of your retirement. And it can also be a great way to transfer assets if you want to to your beneficiaries or to some type of charity. Well, today we're going to be talking about the life insurance retirement plan. Now what is this this is a permanent insurance policy that is put in place not net Essentially for the death benefit, although there is a death benefit available, but the primary purpose of the li...
Jun 04, 2020•31 min•Season 2Ep. 8
We're going to be talking about risks that face your retirement, I'm going to focus primarily on eight main risks. 1- Social Security Risk 2- Lack of Income Diversity Risk 3- Tax Rate Risk 4- Longevity Risk 5- Sequence of Return Risk 6- Withdrawal Rate Risk 7- Long Term Care Risk 8- Inflation Risk So how do we solve all these risks? This is a huge laundry list of risks that are facing your retirement. Well, how do you solve These, it's by putting together a well organized plan and focusing more ...
May 29, 2020•28 min•Season 2Ep. 7
If you've been listening to any of my previous podcasts, you know that we talk about a three bucket system. Today we're going to be talking specifically about the tax free bucket. Here is a quick review to make sure everyone understands what these three buckets are. 1st Bucket - The Taxable Bucket: This should only contain anywhere from three to six months, my recommendation is six months. Six months of income to be available for emergencies. It's liquid assets. Biggest problem with this bucket....
May 22, 2020•24 min•Season 2Ep. 6
The tax deferred bucket is an interesting bucket because this is where 95% of America's retirement assets are being held. There are over $22 trillion held inside of some type of tax deferred account. When you compare that to the tax free bucket or assets that are being put into Roth IRAs, or Roth conversions or Roth 401 K's there is only about 1 trillion dollars that's being put in these tax free bucket. So it's a bucket that's been filled for a long time. Now, why are these accounts getting fun...
May 15, 2020•24 min•Season 2Ep. 5
Now, in today's show, I will be talking about the taxable bucket. If you joined me on my podcast from last week, you may remember me talking about how there are millions of different investment options you can choose the fund your retirement, and that the planning process is a simple three bucket system. These three buckets are the taxable bucket, the tax deferred bucket and that magical bucket that I call the tax free bucket. Of the three available buckets the one you're probably most familiar ...
May 08, 2020•20 min•Season 2Ep. 4
Under the basics of the power of zero and how to transform your retirement by getting into the 0% tax bracket. Support the show
May 02, 2020•20 min•Season 2Ep. 3
So today's show is all about the fiscal health of our country. Now, it may not seem like this should be such an important topic. When we talk about retirement planning, why are we going to cover finance, debt, and those type of things? You will see as we go through this show why it is so important that we cover this topic? Because as you look forward to your retirement, it is going to be something that will affect your retirement years greatly. The first question I have for you is do you expect ...
Apr 24, 2020•17 min•Season 2Ep. 2
Welcome to Season 2 where it is all about taking it to the next level. Season 1 was all about financial literacy, and now we are going to be talking about how you can bridge the gap in retirement. We realized that over 70% of Americans have not prepared themselves for retirement, and of those who have, 68% assume they're gonna run out of money before they die. So we wanted to focus on helping people bridge this gap to better prepare others for the future that lies ahead, and we realize that with...
Apr 17, 2020•20 min•Season 2Ep. 1
Episode 30 is right in the middle of this pandemic and so we brought on Financial Coach, Kendall Berry to help us figure out how to weather the financial storm that we are facing. Remember this time is very stressful and to be gentle with yourself. There is no one right way to handle this emotionally. Since we are in the middle of the storm here are 8 things we can be doing. Remain Calm - Ride things out and don’t make any rash decisions with investments or savings. Reduce Your Expenses - We are...
Apr 10, 2020•22 min•Season 1Ep. 30
Courtney from Modern FImily talks all about gamifying her financial life at home with her wife and toddler. She shares her love for traveling and how that started their journey and how life is raising a child, the costs associated with this and how she does all of this without missing out in life. Support the show
Apr 03, 2020•28 min•Season 1Ep. 29
Gabe Bult is a YouTuber, Real estate agent, house hacker, and Real estate investor. He helps young people figure out and get ahead on their finances and reach financial freedom and live a better. He also loves side hustling and you can find Gabes YouTube channel below https://www.youtube.com/channel/UC3F3zZFiRElw2GLwzndp05A/videos Support the show
Mar 28, 2020•30 min•Season 1Ep. 28
Jolie Viguers, Bean Counter & Financial Coach joins the podcast to share her story and to help us prepare our teenagers for a better financial future. Financial literacy is not being taught in the high school. If they do offer a class, many of the kids are so focused on getting their requited classes they have no time for actual classes that can help them, like financial literacy. If you can not find a way for your teen to learn about finance in school you need to do it somewhere else. Educa...
Mar 21, 2020•46 min•Season 1Ep. 27
Ben Smith, CPA, & Senior Tax Manager from Etrends Tax & Accounting shared some amazing tax tips with us on "Rules on Home Office Deductions, and Business Travel". Support the show
Mar 14, 2020•9 min•Season 1Ep. 26
Sami Womack from A Sunny Side Up Life joined the podcast to share her debt free journey from $450,000. Her story is one that you do not want to miss. She is a blogger, podcaster, motivational speaker and the sunshine you need in your day. Her passion is inspiring women to live abundant lives through budgeting, intentional living, and positive thinking. Support the show
Mar 06, 2020•40 min•Season 1Ep. 25
Sarah Brandenberger from Nerds Guide To Wellness joined the podcast to talk all about her money issues starting from 2016 with tons of debt to how she handles her marriage with only her dealing with the money. Sarah also breaks down their 4 rental properties and how that is helping her work towards her financial goals. Support the show
Feb 28, 2020•28 min•Season 1Ep. 24
Ceri Payne, MEd. Organized Life Coach, joined the podcast to talk all about getting money organized. To get organized in any area you have to figure out what your priorities are and why. Why do you want to pay off debt? Why do you want to save for a vacation? And you have to be very clear in your head about the why. When it gets hard, to save money or say no to spending, or whatever your challenge is, it's the REASON behind the WHY that is going to keep you on track. Enjoy the show with guest ho...
Feb 21, 2020•26 min•Season 1Ep. 23
Kelly Gagnon from the Eff the Joneses shares how she is life hacking her way to financial independence. After stumbling her way into the financial independence movement she began to make major shifts in her own life. She designed and created a location independent lifestyle and that included renting out her house on Airbnb to cash flow her mortgage, travel hacking, side hustles and traveling for her work-cations. “If it doesn’t bring me joy I am not going to do it.” Don't miss the inspirational ...
Feb 13, 2020•23 min•Season 1Ep. 22
Mesha from Refilling My Wallet opens up about her personal debt freedom journey. She talks about the bumps in the road, moving, getting married and working to save every penny. Support the show
Feb 07, 2020•32 min•Season 1Ep. 21
Imagine traveling to 30 countries by age 30 while being debt free. That is what our guest Alycia Austin from My Currency Canvas is currently on track for. She has 3 years to go and 15 countries left. She was debt free by age 26 and knows how to travel. She shares tips on the best time to travel, the best sites for deals and how to stay in budget while traveling. She also can teach you how to become debt free on any salary. Support the show...
Feb 01, 2020•31 min•Season 1Ep. 20
Join Melissa and Murphy From Fit n Funds as they share their financial journey with our Host Dave Hall. They talk about their struggles in marriage and how once they started to solve their money situation it helped them get closer and saved their marriage. This powerful couple shares lessons learned, what changes they needed to make and why counseling has been a blessing for them. The best part about the show is learning how they paid off over $200,000 in debt and how they did this together. Don...
Jan 25, 2020•36 min•Season 1Ep. 19
Julie, a personal finance master coach from The Money Wisdom Coach joined the podcast to share the steps on how to handle your finances to achieve prosperity and complete financial peace. As a finance coach he job is to empower people to take control of their lives and financial dreams. Learn how to get started and how to stay on course to a debt free life. Support the show
Jan 18, 2020•32 min•Season 1Ep. 18
Parris Mills was in the Military and was getting a great paycheck. He also was given a credit card with a $15,000 limit and spent it all in Guam, Hong Kong, Korea and every where else he went. He has been out of the Military for a while, working and side hustling to pay off all of his debts. He is moving to a new place, sold his car for a beater Toyota and is learning how to become debt free. Parris shares his financial journey through Instagram and how he got started. Join us on this journey as...
Jan 10, 2020•33 min•Season 1Ep. 17
