Dave Hall breaks down the changing world of retirement : Talking about some old paradigms, as they relate to how we used to work and how we used to save, especially when we go back to our parents and grandparents, and how we're doing it today and what you can do to help better prepare yourself for a safe and secure retirement. Support the show
Dave hall breaks down his must do's for a better retirement. Support the show
David M Walker Author of America in 2040: Still a Superpower? A Pathway to Success I wanted to focus this episode on 5 recommendations he provides from a tax perspective about the Fiscal Situation in America. Support the show
This episode is one we're going to talk about some of these mistakes we make when preparing for retirement. To start out we are talking about under estimating your life expectancy. This has become a very Big problem. For many people, we think we're going to live a lot shorter period of time than we are. Part of that could be the government's problem, government tells us that our average life expectancy is going to be somewhere around 78, or 79. And that is correct if you include infant mortality...
As we look forward to our future retirement, what we find is that we're looking at one of the longest self imposed periods of unemployment that we will ever have in our lifetime. Today I want to do is go through 10 questions that you should ask yourself to test how ready you are for retirement. And if you're heading down the right path to get you to a safe and secure retirement. Number 1 - Are you struggling to pay current bills? Number 2 - Do you have high levels of debt? Number 3 - Have you pu...
As you get into retirement and the years leading up to it, it is very important that you start protecting a portion of your assets. Start getting those put aside so that you know that as you get into retirement, you're going to have a set amount of money coming from these asset. If the market tanks, if you've got sequence of return issues, you're not going to end up losing all those assets you work so hard for during your working years. There is a mathematical calculation that many advisors use....
When we talk about life insurance retirement plan, it is something that we want to last forever, I would never recommend for anyone to get into a life insurance policy for a short period of time, because it's going to turn out to be a very bad investment. Many people will look at life insurance retirement plans and say, Hey, they're too expensive, you should never put these plants together, there are better options. But when we look at it for what it is, if we look at it as something that we're ...
10 Retirement Tips To Help You On Your FIRE Journey Support the show
In Episode 38 Dave Hall is joined by Producer CR Thelin for a 30 minute conversation about what it takes to get ready for retirement. The question asked, "Am I ready for retirement?" We are all on a different journey to retirement, but the short answer to this question is, "Yes". You are ready for retirement. You just have to start. Don't rely on social security alone to get you through, or your 401(k) from work. It takes much more than that. In fact if you really want to get ready you to need t...
Dave Hall shares his favorite Christmas stories that have been a big part of his life. Since Episode 37 airs on Christmas Day, it is only appropriate to rethink and prepare as we look to the new year. Support the show
Dave Hall answers several questions all about social security, medicare and reverse mortgage. CR Thelin Producer joins the show. Support the show
I have received several requests from many of you regarding bad or incorrect information found online about retirement. So I have decided to tackle some of these issues head on in my recent podcast. "Debunk Week" To start I wanted to break down the article from the Financial Samurai entitled, "Disadvantages of a Roth IRA". There are a lot of great resources for financial information and my job is to make sure you get the best advice for you and your retirement. Support the show...
If you were to look at the retirement plans of most Americans, what you would find is that 95% of them are out of balance. 95% of these plans have the majority of their assets in the tax deferred bucket, which means the majority of their retirement is subject to tax rate risk. with federal spending skyrocketing and more baby boomers coming on to Social Security and Medicare each day. All we have to do is look at the math to realize taxes cannot stay where they are today. And America be able to c...
I want to talk about five things that I believe we all should be grateful for as we approach retirement. The number one thing on my list for things that I believe we should all be thankful for, especially as we approach retirement, is the Social Security program. It may seem strange that I'm thankful for a government program, but when you look at it, it’s been able to give a much better life to retirees, and it has been helping them live a more safe and secure life. The program was brought about...
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Proposed Tax Changes by Joe Biden Everything i'm talking about is a proposed change, it has not yet happened and some or all of it may never happen. Second, we don't have all the details on how some of the proposed changes will actually work. Support the show
A self directed Roth IRA is a retirement plan that allows for alternative investments for your retirement savings. Although this type of retirement plan has been around for decades, they've struggled to gain popularity. There are many reasons for this, but the biggest one is because the big brokerage firms that spend billions of dollars marketing retirement investments have nothing to gain. If you decide you want to do a self directed Roth IRA, self directed retirement accounts do come in variou...
I know so many of you are having issues with your retirement plans. I have decided that I'm going to be talking about why I believe you should get a prosperity advisor involved with your retirement. Support the show
The longer your retirement lasts, the more risk your retirement will face. We call this situation longevity risk. longevity risk is any potential risks attached to the increased life expectancy of an individual. Life is full of fears. But there's one that is outpacing any other when it comes to retirees. And that is the fear they're going to live too long. It was only a couple of years ago that their three greatest fears were death, taxes and public speaking. So why did things change? The reason...
If there's a retirement product out there that has gotten a bad rap because of unmet expectations, it's the reverse mortgage. Therefore, it's my plan to help you better understand what you can expect from a reverse mortgage, so you can make a better decision on whether or not a reverse mortgage is the right product for your retirement. When you hear the word reverse mortgage, what comes to your mind? For many of you, it may be the thoughts that it's just a program created to steal your home. And...
In this episode I am going to be talking about rental real estate, and the top 5 reasons why I believe you should not own rental real estate in retirement if you're trying to get to a tax free and risk free retirement. And I will end the show today by sharing my best recommendation if you decide to go against everything I tell you today, and invest in rental real estate anyway. Support the show
This week I'll be talking about the last five scams on my list. It's important to understand some of the top internet scams that exist. So hopefully you can keep yourself safe and secure. The most popular scam of them all is what is called phishing. Now this isn't the type you do with your grandkids out of the lake, but it's called phishing starting with a ph because it resembles the other type of fishing you do with a rod and reel. Essentially fishing is cybercriminals reaching out to you in ho...
Part 1 - The Top 10 Elderly Fraud Scams and How to Avoid Them Every one of us here on the show is susceptible of being taken advantage of by con artists. But as we age the problem is magnified. Over the next two podcasts I'll be talking about the top 10 elder scams that exist. Let's take a minute to talk about why scamming the elderly has become so popular. The biggest reason is because those doing the scanning have found the older segment of our population is an easy target. What these con arti...
What is rule 72(t) rule 72(t) is a section of the IRS code that allows for penalty free withdrawals from your traditional retirement account prior to age 59 and a half. This means that those who are wanting to retire early or who want more freedom to transition assets out of their tax deferred bucket into their tax free bucket prior to age 59 and a half can do it without having to pay the IRS the normal 10% early withdrawal penalty. But as with anything the IRS offers, there's a number of rules ...
Getting to a tax free and risk free retirement may be one of the toughest things you will ever have to do, but the process will be much easier if you know the rules. I'll be sharing with you the 12 rules of a risk free retirement plan. #1- Everyone's retirement situation is different. #2 - You're not likely to be in a lower tax bracket in retirement. #3 - There's an ideal amount to have in the taxable and tax deferred bucket in an environment where tax rates are rising. #4 - Anything above the i...
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I'll share with you five takeaways from the power of zero paradigm. This paradigm is based upon the belief that taxes will be higher in the future and the best way we can insulate ourselves against the time of higher taxes is to do appropriate planning now, so we can eliminate tax rate risk in the future. I will provide you with a warning though, and that is that the first few takeaways are going to seem a little depressing. But if you'll stay around until the end of the show, I promise you that...
In today's show, I'm going to be answering a question that far too many retirees don't know the answer to and that question is, "What is the correct withdrawal rate for my retirement? The question regarding withdrawal rates and retirement dates back decades. Since traditional retirement plans were brought about in the 1970s people have wanted to know how much money they could withdraw from the retirement and have it last until they passed away. In the mid 1990s, it was assumed that based on life...
Is Social Security really going broke? The short answer is yes. Before you go tell all of your friends I told you, so. I recommend you stick around because although Social Security is going broke, it will never be broke. Possible solutions that can be taken to make Social Security is financially sustainable for the foreseeable future. 1- Raise the amount of taxes employees and employers are contributing into the program 2- Move full retirement age from between age 66 and 67 to age 70 3- Make all...
David McKnight joins Dave on the podcast to talk about tax free income for life. Our country is facing a crisis. We're essentially on an unsustainable fiscal course and every year that goes by where Congress fails to right the ship as a means the fix on the back end is going to be just even more draconian, even more aggressive and even more uncomfortable for Americans who are likely going to have to deal with the consequences of it come 2030 and beyond. I started to really build my own story aro...
