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Growing your wealth and crafting the lifestyle you want in retirement begins with some basic assumptions. Are you basing your entire financial plan on facts or fiction? Many people don’t even know where to start, much less what is true or false. In many cases, the misconceptions are largely considered facts! In this episode, Joe […]
Every day about 10,000 Americans retire. Unfortunately, far too many retirees don’t realize that their retirement plan is on life support right from the start because they’ve estimated their financial needs with numbers that are far from the reality they’ll face once they’ve clocked out for the last time. When it comes to planning for […]
If you own houses in your self-employed, self-directed solo 401(k), is converting a house a year to Roth to avoid required minimum distributions (RMDs) a good strategy? What’s an individual coverage health reimbursement arrangement (ICHRA) and is it a good healthcare option for those with C-corporations? When putting away retirement savings, should you contribute to a Roth IRA, a brokerage account, a 401(k), or your employee stock purchase plan (ESPP)? When it comes to step-up in basis, how do you determine the past fair market value of a home? And finally, what happens if you retire before your construction loan becomes a permanent mortgage?
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On your road to retirement have you stayed too focused on just socking money away without considering blind spots that could sabotage your overall financial plan? From unexpected out-of-pocket expenses to untimely market downturns, you can lower the impact of these events by planning for them. Financial professionals Joe Anderson and Alan Clopine highlight the […]
Is it better to pay tax on $5 million than on $1 million, or is that crazy talk? Also, an asset location strategy to lower RMDs and taxes but still maintain portfolio growth, and an argument against Roth IRAs. Is it a valid one? Plus, what counts as contributions if you withdraw from your Roth IRA after 5 years? Why not pay the tax on a Roth conversion out of your IRA? Roth conversions vs. the medical insurance ACA subsidy, and what? Joe, arrogant?!
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Which states are best for retirement taxes? When moving to a state with a lower cost of living, is it wise to take on mortgage debt to invest in the market? Does it make a difference if you do a Roth conversion before or after moving to another state? Plus, is it better to do Roth conversions with ETFs or mutual funds? Is zero percent long-term capital gains “a hoax”? Also, ABLE accounts for those with disabilities, and healthcare costs vs. taxes as they relate to medical debt, health savings accounts (HSA), and high deductible health plans (HDHP).
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Is your advisor’s financial plan for you too cookie-cutter, set it and forget it? Should you stay or should you go? Joe and Big Al weigh in on whether a couple of listeners who are dissatisfied with their financial advisors should ditch the advisors or keep them. Plus, how should you choose investments in your […]
Danielle Kunkle Roberts of BoomerBenefits.com on Medicare basics, parts A to D, signing up, common mistakes, Medigap vs. Medicare Advantage, recent improvements to Medicare, and the future: will Medicare For All or Medicare At 50 become reality? Plus, Joe and Big Al answer your money questions: are health insurance premiums deductible? And when do you […]
Financial Educator Scott Huband, CFP® covers when the open enrollment period for Medicare opens and what exactly that means for you. Medicare’s open enrollment period runs from October 15 – December 7. In that period of time, you can make changes to your healthcare coverage. You can also add, drop, or make changes to your […]
Money & Divorce: The financial lifeguard Christine Luken talks about her new program, Financial Dignity After Divorce, plus 14 money mistakes to avoid during a divorce, how much the average couple will spend on healthcare costs in retirement, and with all this market volatility, is your 401(k) safe? And the fellas answer questions buying a […]
What do you think your biggest expense in retirement will be? Housing, food or maybe Healthcare? Your biggest expense will likely be your taxes. Financial expert Joe Anderson breaks down ways you can navigate around paying more taxes during your golden years. Want more information? Download our Retirement Readiness Guide here. Subscribe to YouTube Channel
Do you have a plan in place to know when you are financially and emotionally ready to retire? Financial experts Joe and Al walk you through the vital questions to ask before you retire. 1. Can I Afford to Retire? 2. When Should I take Social Security 3. How Can I Reduce My Taxes In […]
Do you know where that big chunk of your paycheck is actually going to? Jack Dugan, CFP® explains in detail what the tax deductions on your paycheck mean by covering these four taxes: 1) FICA tax 2) Medicare tax 3) Federal Withholding tax 4) State tax Transcription: “Hi, I’m Jack Dugan, CERTIFIED FINANCIAL PLANNER™ and […]
In this episode short, Joe and Big Al show you how much of your income is projected to be spent on healthcare. Rising healthcare costs are one of the biggest pieces of the retirement puzzle, causing many people to have retirement shortfalls. Transcription: “In 2000, 16% of someone’s total income was going to healthcare. If […]
