In this conversation, Danny Gudorf, a financial planner, discusses eight powerful year-end tax saving strategies that can significantly impact your tax liabilities.He emphasizes the importance of these strategies in light of the impending expiration of the Tax Cuts and Jobs Act of 2017. The strategies include retirement plan contributions, tax loss and gain harvesting, Roth IRA conversions, charitable giving techniques, and qualified charitable distributions. Each strategy is designed to help in...
Dec 24, 2024•19 min•Transcript available on Metacast Today, our host Attorney Ted Gudorf is joined by Howard Halderman of Halderman Companies to discuss the evolving challenges and opportunities in farm management across Indiana, Ohio, and Michigan. Despite record crop yields in 2023, farmers face decreased incomes due to lower commodity prices. Howard discusses fluctuating land values, noting a peak in 2022 with a slight expected downturn. Ted and Howard explore the integration of renewable energy in agriculture, with a focus on financial benefit...
Dec 17, 2024•38 min•Transcript available on Metacast Today, our host Danny Gudorf discusses eight key factors to keep in mind when exploring part-time jobs and volunteer opportunities that fit your lifestyle in retirement. If there’s one key lesson to take away from this episode, it’s to seek balance between mental stimulation and physical activity while avoiding stress, as well as considering the right mix of financial rewards and employee benefits that different part-time options offer. As a retiree, you’ll be off to a running start on your sear...
Dec 03, 2024•19 min•Transcript available on Metacast What would you do if your current retirement savings plan is built on a myth? Our host, Danny Gudorf, flips the script on traditional retirement planning by introducing a little-known, yet powerful concept called the “Retirement Spending Smile.” Through it, he demonstrates why you may actually need 20% less in retirement income than you think to live a comfortable life! Danny explores the groundbreaking research by CFA David Blanchett and Michael Stein, the latter of whom coined the three phases...
Nov 26, 2024•14 min•Transcript available on Metacast "With penalties of up to three years in prison and a $10,000 fine for intentionally not complying, the implications of noncompliance are severe.” Ever wondered whether your business complies with the latest governmental regulations, or if you're at risk of severe penalties? Our host, Attorney Ted Gudorf, unravels the complexities of the Corporate Transparency Act. This influential legislation could impact anyone owning, controlling, or forming U.S. corporations and LLCs by mandating th...
Nov 12, 2024•17 min•Transcript available on Metacast "Medicaid planning isn't about beating the system, but ensuring that you or your loved ones can receive necessary care without unnecessarily depleting all your assets.” Unlock the secrets to safeguarding your financial future as our host Attorney Ted Gudorf guides us through the intricate world of Medicaid planning. Discover the crucial elements of the five-year look-back rule, a pivotal factor in qualifying for Medicaid long-term care services without depleting your hard-earned assets...
Oct 29, 2024•18 min•Transcript available on Metacast "The SECURE Act 2.0 has changed things a lot. We will explore every detail of the new rules, and trust me when I say pouring over 260 pages of new legislation wasn't exactly a walk in the park, but I've done the heavy lifting for you, so you don't have to." What if understanding the SECURE Act 2.0 could absolutely transform your retirement planning strategies? Our host, Danny Gudorf unpacks the complexities of inherited IRAs. He dissects the fine line between eligible an...
Oct 22, 2024•24 min•Transcript available on Metacast “It's far easier to address these issues proactively than to scramble for solutions in the midst of a crisis. By planning ahead, you’re not just protecting your assets. You're giving yourself and your loved ones peace of mind.” Our host, Ted Gudorf dissects the real-world struggles of dealing with power of attorney (POA) and financial institutions. With heart-wrenching anecdotes like being turned away at the bank during a crisis, Ted unravels why some POAs fail and what you can do to p...
Sep 24, 2024•7 min•Transcript available on Metacast “The beauty of a trust is its flexibility. You can customize it to fit your unique family situation and financial goals. However, this flexibility also means there are a lot of decisions to make.” Imagine being in your mid-60s, like John and Sarah, and facing the challenge of how to ensure both your surviving spouse and children from previous marriages are taken care of. Our host Ted Gudorf tackles the often-overlooked estate planning nuances for blended families. He shares John and Sarah’s stor...
Sep 17, 2024•22 min•Transcript available on Metacast Did you know that Ohio residents have the opportunity to leverage some of Florida's unique tax advantages? Listen in as tax attorney Craig Hersch from the Sheppard Law Firm does a deep dive into the Florida Community Property Trust statute. Along with our host Ted Gudorf, he and Craig share how owning trusts in Ohio (and other common law states) can help you achieve a full step-up in basis for capital gains tax purposes upon a spouse's death, potentially eliminating those capital gains...
Sep 03, 2024•34 min•Transcript available on Metacast “Remember to overestimate your expenses and build in a margin for unexpected costs and consider the impact of taxes in retirement.” Without the right strategy, planning for retirement can be overwhelming. In this episode, you'll take the first step towards creating a personalized retirement plan simply by taking stock of five essential numbers. “Fixed expenses” means different things to different people. Learn how to zero in on what exactly those expenses are for you. You’ll also find out h...
Aug 27, 2024•19 min•Transcript available on Metacast Ever wondered how to strategically manage the tax implications of Roth conversions without falling into the trap of unexpected penalties? Join me, Danny Gudorf, as I uncover the essential tactics for optimizing Roth IRA growth and tax benefits in our latest episode. You'll learn how to transition funds from traditional IRAs or 401ks into Roth IRAs effectively, enjoying tax-free growth and withdrawals in retirement. We explore the two critical methods for handling taxes on these conversions—...
Aug 24, 2024•16 min•Transcript available on Metacast "Whether you're 45 and have 40 years of retirement to live through, or you're 65 and have roughly 20 years of a retirement time horizon, deciding on how you can take money out of your portfolio is going to really impact how much it can generate in monthly or annual income." What if you could boost your retirement cash flow without taking on another job or putting more aside for savings? Listen in as our host Danny Gudorf shares seven powerful steps to significantly increase y...
Aug 14, 2024•16 min•Transcript available on Metacast “Your time and peace of mind are valuable assets in themselves. By opting for a professional registered agent service, you're not just ensuring compliance, you're investing in your business's stability and your own sanity." What if the decision to save a few bucks could expose your home address to the public and disrupt your daily life with the snap of a finger? Join Attorney Ted Gudorf as he spotlights the often-missed yet critical decision of whether to act as your own regi...
Jul 30, 2024•12 min•Transcript available on Metacast "A different strategy is going to be one that can be flexible and solve these issues better than the 4% rule.” Can you really rely on the 4% rule for a comfortable retirement? In this episode, our host Danny Gudorf tackles this controversial topic head-on, revealing why this popular rule might lead you astray. Danny dissects the four major pitfalls of the 4% rule while offering a superior strategy to help you retire sooner and generate more income. By examining hypothetical portfolios and d...
Jul 16, 2024•16 min•Transcript available on Metacast "It's crucial to understand how different income sources can impact the taxation of your Social Security benefits." Unlock the secrets to reducing your tax burden on Social Security benefits! Nearly half of all recipients now find themselves taxed on these crucial benefits, and the number is only climbing. On today's episode of The Limitless Retirement Podcast, our host Danny Gudorf explains why this is happening and provides actionable strategies to help you manage it. Learn...
Jul 02, 2024•21 min•Transcript available on Metacast “I always come back to one simple litmus test, do you want to pay the taxes on your IRA now, or do you want the beneficiaries to pay the taxes later?" In this episode of The Limitless Retirement Podcast, Danny Gudorf of Gudorf Financial Group uncovers the myriad of benefits of Roth conversions for those in their 70s, including the potential for a tax-free inheritance and the flexibility gained by avoiding required minimum distributions (RMDs). Tune in to understand why having a mix of tradi...
Jun 25, 2024•18 min•Transcript available on Metacast "RMDs can be a complex and intricate situation in retirement. But knowing these common mistakes can help you navigate this important part of your retirement plan." Our host, Danny Gudorf, unravels the complexities of RMDs and spotlights the top 10 mistakes that could derail your retirement strategy. With new laws changing the starting age from 70.5 to 73, and eventually to 75, it's more crucial than ever to be informed. Discover why you can’t combine RMDs with your spouse's a...
Jun 12, 2024•20 min•Transcript available on Metacast "By strategically contributing to your HSA throughout your working years, you can build up a substantial balance to help mitigate this impact of the rising health care costs that you're likely to face in retirement." Unlock the full potential of your Health Savings Account and take control of your financial future as our host Danny Gudorf of Gudorf Financial Group, guides us through the world of HSAs on this edition of the Limitless Retirement Podcast. Prepare to have your eyes op...
May 28, 2024•29 min•Transcript available on Metacast “Creating a three-bucket retirement plan is essential for a successful retirement that enables you to avoid being unnecessarily conservative.” Could your well-intentioned, conservative investment strategy for retirement actually be setting you up for financial instability? In this episode of The Limitless Retirement, our host Danny Gudorf flips the script on traditional retirement planning wisdom. He takes a deep look into the world of investment risk, timing risk, and the much-overlooked sequen...
May 21, 2024•31 min•Transcript available on Metacast “The problem is, a lot of people end up not retiring simply because they don't have the confidence to do it.” Navigating the murky waters of retirement planning often feels like trying to read a map in the dark, but what if there were a beacon to guide you through? That's precisely what our host Danny Gudorf offers in this latest discussion: a one-page financial plan designed to clear the haze of overwhelming choices and set you on a definitive path to a worry-free retirement. As Danny...
May 07, 2024•31 min•Transcript available on Metacast "I encourage all of my clients to view retirement not as what they're retiring from, but what they're retiring to. Thinking about retirement this way creates a mental shift and gives you a sense of hope and joy as you enter this new phase of life." Have you ever looked into your financial future and wondered how you can retire not just comfortably but with a genuine zest for life? That's the journey our host Danny Gudorf takes us on in the latest episode of The Limitless...
Apr 29, 2024•23 min•Transcript available on Metacast Welcome to the inaugural episode of The Limitless Retirement Podcast with Danny Gudorf, Owner of Gudorf Financial Group. Whether retirement is on your horizon, or you've already made the leap, this podcast tackles your most important questions about retirement. From real-life success stories to practical advice, each episode promises to enrich your understanding and equip you with the tools necessary for a retirement as limitless as your dreams. Make sure to Follow this podcast on Apple Pod...
Apr 29, 2024•5 min•Transcript available on Metacast Get ready to unravel the complex world of property taxes in Ohio with Attorney Ted Gudorf. This episode will leave you better informed and prepared for the ever-changing property tax landscape. Ted walks us through the recent surge in property values, breaking down what this means for you as a property owner, and how it differs from your home's resale value. Our host dives into the intricate details of the mass appraisal system employed by local counties and the independent appraisal proces...
Jul 25, 2023•19 min•Transcript available on Metacast Listen in as Attorney Ted Gudorf guides you through the complexities of funding a trust, in the latest episode of the Repair the Roof Podcast. This episode is dedicated to discussing the vital importance of fully funding your estate plan. Ted highlights the top seven items to transfer into your trust, the paperwork involved, and the legal implications. He also covers the specifics of transferring real estate into trusts, the role of title insurance, and the need for a general warranty deed in Oh...
Jul 11, 2023•33 min•Transcript available on Metacast Our host, Attorney Ted Gudorf unravels the intricacies of trust types and estate planning. He starts by examining the key distinctions between the types of trusts frequently created at Gudorf Law Group, and how these different trusts can protect your assets from lawsuits, creditors, bankruptcy, and divorces, and even provide a shield against Medicaid, federal, and state estate tax. Ted focuses on irrevocable trusts for Medicaid asset protection, emphasizing the role of a third-party trustee and ...
Jul 03, 2023•34 min•Transcript available on Metacast Are you prepared for the future of your estate? Our host, Attorney Ted Gudorf is here to help you avoid the five major estate planning blunders that could impact your family. In this episode, he tackles the skyrocketing cost of long-term care, as 10,000 individuals turn 65 every day and the probability of needing such care increases. Discover Gudorf Law Group’s preferred method of addressing long-term care, asset-based long-term care, and why it's essential for your future. Taxes and probat...
Jun 13, 2023•41 min•Transcript available on Metacast Discover the essentials of revocable living trusts with our host, Attorney Ted Gudorf, as he guides us through the 10 must-have provisions for success in a revocable living trust in Episode 19 of the Repair the Roof Podcast. Learn how to create a solid trust that not only protects your estate but also simplifies matters for your loved ones in case you become incapacitated or pass away. Ted addresses the importance of identifying the individuals involved, the significance of a spendthrift clause,...
May 23, 2023•16 min•Transcript available on Metacast Have you ever wondered what happens to your debts when you pass away? How can you protect your estate and your loved ones from being burdened by these debts? In this eye-opening episode of the Repair the Roof Podcast, our host Attorney Ted Gudorf dives into the inheritance dilemma and discusses the different types of debt that can impact heirs when someone passes away. He breaks down the difference between secured and unsecured debt, and explains how Ohio law handles estate debts. You'll al...
May 16, 2023•23 min•Transcript available on Metacast Have you yet found yourselves discussing estate planning and elder law basics as a couple? It's time to get serious about these critical topics, and Attorney Ted Gudorf is here to guide you through it all. He covers everything from having a conversation about your estate plan goals, to sharing information about assets, income, and debt, and even deciding whether to own assets separately or jointly. He also dives into planning for incapacity, long-term care insurance, and the many options av...
May 09, 2023•21 min•Transcript available on Metacast 
