Money Mastery UNLEASHED

In this episode of Money Mastery Unleashed, Adam Olson uncovers three critical withdrawal mistakes that can make or break your retirement security. Drawing on years of experience in financial planning, Adam reveals how improper withdrawal rates, ignoring market conditions, and lack of adaptability can lead to devastating outcomes, including running out of money too early. With real-world examples and insights, this episode is a must-listen for anyone planning their retirement or reevaluating their strategy. Key Takeaways: • Discover why an 8% withdrawal rate is a dangerous gamble for your retirement portfolio. • Learn how market downturns can impact your savings and how to create a cash buffer for stability. • Understand the importance of dynamic withdrawal strategies to protect your assets during economic shifts. Adam also shares the inspiring story of a client who avoided financial disaster by implementing the Red Zone Retirement Planning Process, which focuses on cash reserves, flexible strategies, and long-term income protection. This episode highlights the importance of working with a certified financial planner to ensure your retirement plan is customized for your unique situation. Take control of your financial future today. Fill out Adam's personalized retirement questionnaire to receive a customized video with actionable advice tailored to your needs. Click the link in the show notes and start building a retirement plan that won't fail. Don't leave your future to chance—act now and secure your retirement with confidence! “The wrong withdrawal rate can turn a million-dollar portfolio into zero faster than you think; strategic planning is key to lasting financial security.”- Adam Olson Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website Simulation Tool Morningstar Center for Retirement & Policy Studies Research Why Dave Ramsey is Dangerously Wrong About Withdrawal Rates Retirement Quiz -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode, Adam Olson breaks down the six essential purchases wealthy retirees make during their first five years of retirement—and why timing these decisions is critical. Drawing on years of experience working with high-net-worth clients, Adam reveals how strategic spending on Medicare supplement insurance, long-term care coverage, income-generating assets, home improvements, new vehicles, and travel planning can set the foundation for a sustainable and fulfilling retirement. Listeners will learn: • Why delaying these purchases can lead to higher costs, increased taxes, and missed opportunities. • How to navigate common misconceptions, like relying solely on Medicare or postponing home repairs until they're urgent. • The importance of the “GO-GO” phase of retirement and why early spending matters more than later. • Real-life strategies from the Red Zone Retirement Planning process, designed to help retirees align spending with long-term goals. Whether you're nearing retirement or years away, this episode provides actionable insights to help you avoid costly mistakes, prioritize key decisions, and make the most of your early retirement years. Smart planning and early investments aren't just about preserving wealth; they're about maximizing life's possibilities while you're healthiest and most active. “Retirement success isn't just about having enough saved; it's about knowing how to make the right decisions when you get there.” - Adam Olson Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In todays episode, Adam Olson dismantles the myths surrounding widely publicized retirement savings targets, including the recent $1.4 million benchmark promoted by studies. Drawing from decades of experience, Adam reveals why these numbers often mislead people into unnecessary stress and bad decisions about their retirement plans. He explains how generic savings targets fail to account for individual spending habits, lifestyle choices, and regional cost-of-living differences. Through real-life examples, including the story of Joe, a 64-year-old client, Adam demonstrates how personalized retirement planning can help people retire sooner and more confidently. Joe's story highlights the pitfalls of relying on online calculators and arbitrary benchmarks, which had him delaying retirement unnecessarily. Using the Red Zone Retirement Planning process, Adam helped Joe develop a tailored plan that ensured income security, cost-of-living adjustments, and long-term care coverage—all with less savings than Joe thought he needed. Key takeaways: Understanding why replacing 100% of pre-retirement income is unnecessary for most. How your location significantly impacts savings requirements. Why relying on general retirement calculators can lead to major missteps.  Adam emphasizes that retirement success isn't about hitting a magic number; it's about creating an income plan that aligns with your specific goals and lifestyle. If you're tired of cookie-cutter advice and want a retirement plan that truly fits your needs, take the first step today.  “The belief that you need to replace 100% of your working income in retirement is completely false; most of my clients need around 80%.” - Adam Olson Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

Welcome to the Money Mastery Unleashed Podcast! In this episode, host Adam Olson breaks down seven genius retirement hacks that will help you maximize your wealth and achieve the stress-free retirement you've been dreaming of. These aren't the typical tips you hear every day—these are strategic moves that can have a massive impact on your financial future. Discover actionable insights on how to: • Optimize your Social Security benefits for maximum lifetime payouts. • Use the Rule of 55 to access 401(k) funds early, penalty-free. • Diversify your retirement income with dividend portfolios, rental properties, and part-time work. • Max out Roth IRA contributions to enjoy tax-free growth and withdrawals. • Take full advantage of employer matching programs—even in part-time roles. • Leverage the power of HSA accounts with their unique triple tax advantages. • Plan for retirement taxes strategically, ensuring you keep more of your hard-earned money. Whether you're nearing retirement or just starting your financial journey, these retirement hacks will equip you with the tools to build a secure and abundant future. Don't miss out! Be sure to: • Subscribe to the channel for more tips on mastering your money. • Share this video with someone who could use these strategies. • Drop a comment below and let me know which hack you're ready to implement! If you're ready to take your retirement planning to the next level, contact me today to create your customized Red Zone Retirement Plan. Together, we'll build a strategy tailored to your unique goals and circumstances. Your financial freedom starts now! Hit that subscribe button and turn on notifications for more insights to help you retire confidently and live the life you deserve. “Delaying your Social Security benefits past full retirement age can mean an 8% increase in your monthly payout every year—it's the ultimate game of patience paying off.” - Adam Olson Key Takeaways: Optimize Social Security Benefits Use the Rule of 55 for Early 401(k) Access Diversify Income Streams in Retirement Max Out Roth IRA Contributions Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product.Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of Money Mastery Unleashed, certified financial planner Adam Olson dives deep into the critical topic of retirement planning. Retirement should be the golden phase of your life, where you reap the rewards of decades of hard work. However, without a robust plan, it can be fraught with challenges that threaten your financial security. Adam uncovers the five biggest risks retirees face—longevity risk, healthcare costs, market volatility, inflation, and unexpected expenses—and provides actionable strategies to safeguard your wealth. From the fear of outliving your savings to navigating skyrocketing healthcare expenses, Adam explains how proactive measures, such as creating a dynamic withdrawal strategy, leveraging lifetime income products, and contributing to health savings accounts, can provide peace of mind. He also highlights the importance of maintaining a diversified portfolio, planning for inflation-adjusted income, and keeping a robust emergency fund to handle life's unexpected surprises. Listeners will gain insight into the pitfalls of market risk and how to mitigate it by tailoring portfolios for different time horizons. Adam emphasizes the significance of budgeting for long-term care and managing lifestyle expenses while preparing for retirement. With personal anecdotes, expert advice, and references to his book, The Red Zone Retirement Plan, Adam equips you with the tools you need to thrive in retirement. Whether you're years away from retirement or already navigating this phase, this episode offers valuable guidance to help you plan smart, live well, and secure financial peace. Subscribe, share, and connect with Adam to take the next step toward mastering your retirement journey.  “Retirement isn't about just having enough; it's about thriving without worrying where your next paycheck will come from.” - Adam Olson Key Takeaways: Introduction to Retirement Risks Risk #1: Longevity Risk Risk #2: Healthcare Costs Risk #3: Market Risk Risk #4: Inflation Risk Risk #5: Lifestyle and Unexpected Expenses Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of the Money Mastery Unleashed Podcast, Adam Olson, a Certified Financial Planner with Mutual of Omaha, dives deep into the critical strategies for structuring retirement income to minimize taxes. He explains the different types of retirement accounts—tax-deferred, tax-free, and taxable—and the implications of withdrawing from each. Adam emphasizes the importance of strategically planning distributions to keep tax liabilities low while ensuring a consistent income stream throughout retirement. By tailoring withdrawal strategies to individual needs and adjusting them annually, retirees can avoid unnecessary tax burdens and maintain financial stability. Adam also highlights the significance of considering factors like Social Security taxation, Medicare premiums, and the potential benefits of consulting a knowledgeable financial advisor. This episode is packed with practical insights to help listeners navigate the complexities of retirement income planning, ensuring they enjoy a comfortable and tax-efficient retirement. "How you structure your income in retirement can significantly impact the taxes you pay—strategic planning is key to minimizing your tax burden." Key Takeaways: Types of Retirement Accounts Additional Income Sources in Retirement Structuring Retirement Paychecks Investment Strategy Alignment Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

Are you in your 40s and feeling behind on retirement savings? Don't worry—you're not alone, and the good news is, it's not too late to take control of your financial future. In this episode, Certified Financial Planner Adam Olson shares five actionable steps to build a solid foundation for retirement, even if you're starting from scratch. Whether your goal is to retire in 20 years or simply achieve financial security, this episode provides the blueprint to get you back on track. Adam starts by addressing common challenges faced by those in their 40s, including raising kids, paying off debt, and supporting loved ones. He emphasizes the importance of taking immediate action and lays out a clear plan: assess your current financial situation, establish an emergency fund, eliminate high-interest debt, start contributing to retirement accounts, and find ways to increase your income if necessary. Throughout the episode, Adam provides practical tips and real-world examples to simplify the process and keep listeners motivated. This episode also highlights the power of compound interest, demonstrating how starting late doesn't mean it's too late. Adam explains how automating savings, cutting non-essential expenses, and leveraging tax-advantaged accounts like 401(k)s and IRAs can accelerate progress toward financial goals. For those needing extra guidance, Adam introduces his book, What's Your Plan?, which offers detailed case studies and step-by-step instructions for creating a personalized financial strategy. Whether you're starting at zero or looking to optimize your existing plan, this episode is a must-listen for anyone striving to secure their retirement. Tune in now to learn how small, consistent actions today can lead to a brighter financial future tomorrow! “Feeling behind on retirement savings in your 40s? You're not alone, and it's not too late to take action.” Key Takeaways: It's Not Too Late to Start Saving Prioritize Needs Over Wants Leverage Compound Interest Automate Your Savings Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of the Money Mastery Unleashed podcast, seasoned financial planner Adam Olson dives into “Five Uncomfortable Reasons You Should Retire as Soon as You Can.” With over 15 years of experience, Adam has seen too many people work tirelessly, only to realize they can no longer enjoy the retirement they planned for. Here, he highlights some surprising but crucial reasons why retiring sooner might be the smartest move for long-term happiness, financial well-being, and peace of mind. Adam begins by addressing the often-overlooked “opportunity cost” of staying in the workforce too long. Every extra year in a high-stress career means missing out on cherished experiences like family time, travel, and hobbies. Adam explores how taking a step toward part-time work or alternative income sources can offer a more balanced transition to a fulfilling retirement. He then moves into the reality of aging and its impact on health. As we get older, our physical and mental energy wane, making it tougher to do the things we love. Adam's insight here encourages listeners to consider how to make the most of their prime years and avoid the regret of waiting too long. The episode also touches on the unpredictable nature of life. No one can foresee illness or unforeseen circumstances that could abruptly halt a career. Adam discusses how early retirement planning can build flexibility and security into life's curveballs. Mental health, he notes, is equally vital; years of workplace stress can take a toll on well-being, leaving many burnt out and unable to enjoy retirement. Adam suggests strategies for incorporating meaningful work on a part-time basis, which can relieve stress without sacrificing fulfillment. Finally, he brings it all together by discussing time as our most precious asset. By valuing time over money, individuals can design a retirement that reflects what they truly care about. Tune in to this insightful episode to learn why retiring sooner than planned could be the key to enjoying a balanced, vibrant, and rewarding life. Whether you're close to retirement or years away, Adam's tips on financial planning, mental health, and life balance can help you rethink and reshape your retirement dreams. “Retirement isn't some distant goal—it often sneaks up fast. Don't work a day longer than you have to.” Key Takeaways: Declining Health with Age Life is Unpredictable Work's Toll on Mental Health Time is Your Most Valuable Asset Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In today's episode of Money Mastery Unleashed, I'm walking you through the seven best strategies to lower your taxes in retirement—proven methods I've personally used to help dozens of clients save thousands of dollars. If you've ever felt overwhelmed or unsure about how to reduce your tax burden in retirement, this episode is for you. Most people simply haven't been educated on these strategies, and many assume this critical financial knowledge is only accessible to the ultra-wealthy. But here's the good news: I'm breaking it down for you step-by-step so you can start implementing these strategies immediately. Whether it's leveraging Roth IRAs and Roth 401(k)s, taking advantage of new Roth matching contributions, maximizing your Health Savings Account (HSA), or exploring powerful tools like Roth conversions, you'll discover actionable techniques to keep more of your hard-earned money in retirement. We'll also dive into life insurance retirement plans for tax-free income, how to strategically claim Social Security to optimize your benefits, and the often-overlooked qualified charitable distributions (QCDs) and qualified longevity annuity contracts (QLACs) to minimize required minimum distributions (RMDs) and lower your taxable income. If you've been saving your entire life but are now concerned about rising tax rates eating away at your retirement income, these strategies are game-changers. Don't let a lifetime of hard work get eroded by poor planning—take control of your financial future today. Ready to lower your taxes in retirement? Click the link in the description to schedule a free consultation with me or one of our advisors. Together, we'll craft a retirement plan tailored to your specific needs and goals. Don't miss this episode packed with actionable insights—tune in, take notes, and start building your tax-efficient retirement today. For more resources and tips, check out the additional episodes and tools available on my website. Let's get you the tax-free retirement you deserve. “Roth conversions are about taking control—pay taxes today so you can enjoy tax-free income tomorrow.” - Adam Olson What you will learn: Contribute to Roth IRA & Roth 401(k) Maximize Health Savings Account (HSA) Implement Roth Conversions Strategically Claim Social Security Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

Do you really need millions of dollars to retire comfortably? In this episode, Certified Financial Planner Adam Olson breaks down the myths surrounding retirement savings and reveals why your magic number might be smaller than you think. Drawing from real-life examples and financial strategies, Adam explores the key factors that influence retirement needs, including lifestyle choices, geography, and personal expectations. Whether you dream of coastal living or a quiet life in the Midwest, Adam provides actionable insights to help you define and achieve your ideal retirement. Adam discusses how to differentiate between essential needs and discretionary wants, offering practical tools for creating a personalized retirement plan. He dives into strategies for lowering your retirement savings target, such as relocating to lower-cost areas, adjusting lifestyle expectations, and securing insurance for healthcare and long-term care expenses. By breaking retirement planning into manageable steps, Adam helps listeners gain clarity on how much they truly need to enjoy their golden years. Listeners will also learn about the role of guaranteed income sources like Social Security and pensions, as well as how investments can fund additional lifestyle choices. With examples like a $1 million portfolio generating $40,000 annually, Adam demonstrates how a thoughtful approach to financial planning can make retirement achievable. For those seeking even deeper insights, Adam introduces his book, The Red Zone Retirement Plan, as a free resource packed with tools and strategies to prepare for the future. If you're ready to take control of your retirement journey, this episode is a must-listen. Packed with financial wisdom and practical tips, it will leave you feeling empowered to plan for a secure and fulfilling retirement. Don't miss this opportunity to rethink your financial future and learn how to make the most of your resources. Tune in now! “Retirement might be more affordable than you think, especially with careful planning and a focus on what truly matters.” Key Takeaways: Retirement Needs Are Personalized Controlling Retirement Costs Estimating Retirement Income Inflation and Taxes Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

Are you looking to build a strong financial foundation for your retirement? Join Adam Olson on the Money Mastery Unleashed Podcast, where he dives into the essentials of maximizing your 401(k) plan. This episode covers the ins and outs of 401(k) plans, from understanding the benefits of employer matches to strategic contributions and investment options. Adam explains the importance of starting early, regularly increasing your contributions, and leveraging the power of compounding interest. He also discusses the difference between pre-tax and Roth contributions, the impact of market diversity, and managing your plan through annual reviews. Whether you're new to 401(k) plans or looking to optimize your existing strategy, this episode provides valuable insights to help you secure your financial future. Don't miss out on practical tips for consolidating multiple 401(k) plans, understanding target date funds, and making informed decisions about loans and withdrawals. "Roth 401(k) contributions offer tax-free growth, which can be beneficial if you expect higher taxes in the future." What you will learn: The ins and outs of 401(k) plans. What investment options you have. Strategies for consolidating old 401(k) plans. Tips for maximizing your benefits. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of Money Mastery Unleashed, certified financial planner Adam Olson addresses a critical question for many Americans nearing retirement: can you retire comfortably without a million-dollar nest egg? Drawing from his extensive experience with Mutual of Omaha, Adam walks listeners through practical, research-backed strategies to help those with less than a million dollars saved achieve a secure and fulfilling retirement. The episode explores actionable steps, such as maximizing Social Security benefits, embracing a lower-cost lifestyle, and creating diversified income sources, tailored to boost retirement confidence. One key takeaway is the importance of Social Security optimization. Adam explains how each year of delayed claiming post-full retirement age can boost lifetime Social Security benefits by 8%, potentially securing thousands more per year. Additionally, Adam discusses lifestyle adjustments, such as downsizing homes or relocating to states with no income tax, which can effectively extend retirement savings. He also shares insights into income-generating assets, highlighting the potential of dividend-paying stocks, rental properties, and part-time work to supplement fixed retirement income streams. The episode goes further into often-overlooked areas of retirement planning, such as healthcare management with Health Savings Accounts (HSAs) and Medicare reviews, as well as tax efficiency techniques. Adam offers detailed strategies to minimize tax burdens on retirement income, including managing required minimum distributions and employing tax-efficient withdrawal plans. He emphasizes the need for flexibility in retirement spending, advocating for a “bucketing strategy” to manage fluctuating market conditions effectively. Listeners are invited to explore Adam's latest book, The Red Zone Retirement Plan, which expands on these strategies and offers a comprehensive guide to retiring comfortably without a million-dollar portfolio. Whether you're decades away from retirement or just around the corner, this episode provides essential guidance on achieving a secure, stress-free retirement with less. “Retirement is possible, even with less than a million dollars saved. It's about smart strategies, not just big numbers.” Key Takeaways: Optimize Social Security Benefits Leverage Income-Generating Assets Explore Affordable Housing Options Prepare Early for a Secure Retirement Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of the Money Mastery Unleashed Podcast, host Adam Olson, dives into the question of whether you truly need a financial advisor to achieve financial success. He explores the role of advisors, emphasizing their value in helping clients navigate complex financial decisions, manage emotions, and optimize strategies such as asset allocation and tax planning. Drawing parallels to his own experience of hiring an electrician to save time and avoid costly mistakes, Adam illustrates how advisors act as a safeguard against poor financial decisions, potentially increasing investment returns by up to 3%, as noted in a recent Vanguard study. Whether you're a DIY investor or considering professional help, this episode offers critical insights into making informed financial choices and the potential benefits of working with a certified financial planner. "Do you even need a financial advisor to become financially successful? The answer may depend on the complexity of your financial life." Key Takeaways: Understanding the Role of a Financial Advisor How Advisors Help Prevent Financial Mistakes The Financial Impact of DIY vs. Working with an Advisor Cost of Working with a Financial Advisor Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

Financial Independence - The Path to Early Retirement Welcome back to The Money Mastery Unleashed podcast! In today's episode, we're diving into the strategies and tools needed for achieving early retirement, aiming for financial independence through the FIRE movement. Whether you're aspiring to retire by 40, or considering a more traditional timeline like 55 or 60, we'll cover essential strategies such as setting financial goals, maximizing savings and income streams, investing wisely, and ensuring tax efficiency. We'll also explore different FIRE lifestyles—Lean, Fat, and Barista—and how to manage key expenses like housing, transportation, and healthcare. Tune in to learn how to start making impactful decisions today for a financially secure and fulfilling early retirement. "Keep your debt under control from a young age. High debt can hinder your path to early retirement." What you will learn: Understanding the “FIRE” Movement Setting Goals for Early Retirement Building a High Savings Rate Maximizing Income Streams Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of the Money Mastery Unleashed podcast, host Adam Olson dives into a real-life case study featuring a couple who inherited a significant sum of money and needed guidance on how to manage it. With $850,000 in cash from life insurance and the sale of a farm, these clients—referred to as Jack and Jill—were uncertain about their next financial steps. Adam walks listeners through the detailed process he used to help them navigate their financial decisions, offering practical advice for anyone who may find themselves in a similar situation. Jack and Jill were careful savers but wanted to improve their lifestyle without depleting their inheritance. Their goals included taking annual family vacations, treating their children to dinners or events, and preparing for early retirement at age 60. Adam developed a strategy that not only secured their retirement but also allowed them to enjoy an enhanced lifestyle. He explains how he helped them allocate $50,000 to an emergency fund and invested the remaining $800,000 in dividend-paying stocks, generating over $25,000 annually in qualified dividends. These dividends were used to fully fund their Roth IRAs, ensuring future tax-free income at retirement. The episode also covers how Adam addressed the couple's concerns about long-term care. By converting their existing whole life insurance policies into a new indexed universal life contract with a long-term care rider, Jack and Jill eliminated their nursing home risk and lowered their premiums. This case study offers invaluable insights for listeners on how to grow wealth, secure retirement, and protect assets for future generations. Whether you have inherited wealth, sold a business, or simply accumulated cash over time, this episode provides actionable strategies for financial security and peace of mind. Tune in to learn how you can make the most of your cash and achieve your financial goals! “You have several options when you have a sizable amount of cash sitting in the bank account. One, you can spend it, or two, you can save it.” Key Takeaways: Managing funds wisely without depleting it Increase lifestyle modestly without compromising financial future Increasing tax-free retirement income Long-term care risk Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of Money Mastery Unleashed with Adam Olson, we dive deep into the question that many retirees ask: “Is $2.2 million enough to retire comfortably?” Adam shares the story of Joe and Sue, a couple in their late 50s and early 60s, who have accumulated $2.2 million in retirement savings. They came to Adam looking for answers about how to make the transition to partial retirement while addressing a significant concern: health insurance. With no debt and an income need of $5,000 per month, they were in a strong financial position, but the fear of losing Sue's health insurance was holding them back from the lifestyle they wanted. Adam walks listeners through the process of helping Joe and Sue shift to part-time work, solve their health insurance dilemma, and even save money in the process. By leveraging the Affordable Care Act and health savings accounts (HSAs), Adam demonstrates how smart planning allowed this couple to transition smoothly into partial retirement. Listeners will gain insights into how the Affordable Care Act can serve as a bridge to Medicare for pre-retirees, and how maximizing HSAs can offer triple tax benefits. Whether you're a few years away from retirement or already planning your transition, this episode will provide valuable financial strategies for managing your health insurance, investments, and income. Adam also discusses key topics such as the pros and cons of Cobra insurance, strategies to lower your adjusted gross income, and how to conservatively manage your assets as you near retirement. Tune in to discover how Joe and Sue successfully transitioned into partial retirement, and learn actionable tips that can help you on your journey to financial freedom. “A health savings account is a triple tax benefit: it's pre-tax money going in, it grows tax-free, and as long as you take it out for the right things, it's tax-free at distribution time.” Key Takeaways: Social Security Benefits Health Insurance Concern Income-Based Premiums Working with a Broker Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of the Money Mastery Unleashed podcast, Certified Financial Planner Adam Olson dives into a critical yet often overlooked aspect of retirement planning—your housing choices. Whether you're considering downsizing or relocating, the decisions you make about your home can significantly impact your financial future and lifestyle during retirement. Adam explores how downsizing can accelerate your retirement timeline, allowing you to live freely and on your own terms sooner than expected. He covers various factors to consider, such as reducing costs, freeing up equity, and adjusting to a simpler lifestyle that supports travel and flexibility. Adam also dives into the emotional and lifestyle implications of leaving a long-term home. He emphasizes the importance of discussing these decisions with your significant other, balancing sentimental attachments with practical financial considerations. Whether you're planning to downsize, relocate, or even maintain a larger home for family gatherings and entertainment, Adam provides insights into how each choice can affect your retirement budget and overall well-being. Beyond the financial benefits, Adam touches on alternatives such as aging in place, renting part of your home, or even considering a reverse mortgage. With real-life stories of clients who have navigated these transitions successfully, he offers practical advice to help listeners tailor their retirement housing strategy to their personal goals and circumstances. Tune in for a comprehensive look at how your housing decisions can play a pivotal role in shaping a comfortable and sustainable retirement. “Smaller homes in retirement mean lower costs, less responsibility, and more flexibility to travel and enjoy life.” Key Takeaways: Housing Considerations in Retirement Relocation and Lower Living Costs Simplifying Your Lifestyle Through Downsizing Alternatives to Downsizing Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of Money Mastery Unleashed, host Adam Olson welcomes guest Scott Donnell, an influential business owner, author, and speaker who has shared the stage with legends like Tony Robbins. Scott, known for his work in legacy building and family values, joins Adam to dive into creating a lasting heritage over mere inheritance. In their conversation, Scott reveals his life philosophy: “It's more important what you leave in your kids, not what you leave to them.” This sentiment underpins the episode as they explore the difference between heritage and inheritance, urging parents to focus on instilling values, resilience, and life skills that will set their children up for success beyond financial wealth. Scott, with experience leading seven companies—six focused on impacting families and children—shares invaluable insights drawn from studying 100 of the world's most impactful families. He explains his “12 strategies of legacy,” with practical tips on building family heritage through relationship-building, financial responsibility, and character development. This episode challenges conventional ideas around financial legacy and highlights the dangers of generational wealth without value-based preparation, often leading to the so-called “lottery ticket syndrome.” Listeners will also learn actionable strategies for teaching kids responsibility and generosity, using methods Scott has developed, like “brain gigs” and the three E's—expectations, expenses, and extra pay opportunities—to foster a mindset of value creation over entitlement. For parents concerned about raising financially responsible, values-driven children, this episode is packed with practical, faith-centered advice that emphasizes not only financial health but also spiritual and emotional growth. “No amount of money can replace the bonds you create through meaningful time together.” Key Takeaways: Legacy is About Values, Not Just Wealth Creating Experiences for Stronger Bonds The Importance of Generosity and Abundance Mindset Firm Boundaries and Encouragement for Headstrong Kids Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, focuses on the importance of life and disability insurance. Adam explains that life insurance is a crucial financial tool to protect your family's financial well-being in the event of your death. He highlights the different types of life insurance policies, including term and permanent, and emphasizes the significance of having sufficient coverage. Adam stresses the importance of disability insurance, which can provide income replacement if you become unable to work due to illness or injury. He emphasizes that disability insurance is essential for maintaining financial stability and preventing financial ruin in the face of unexpected events. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, explains various types of retirement accounts, including IRAs, Roth IRAs, 401(k)s, and 403(b)s, and how these accounts function. Adam emphasizes the importance of starting to save early and using these accounts to build wealth through compounding. He also discusses the concept of diversification and how it can help mitigate risk. Adam advises readers to consult with a financial advisor to determine the best course of action based on their specific circumstances.  Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, discusses the various benefits that employers offer new employees, emphasizing their importance in financial planning. Adam provides an overview of different types of employer benefits, including health insurance, voluntary benefits like dental and disability insurance, and retirement plans. He also highlights the significance of understanding the specific features of each benefit, such as deductibles and co-pays for health insurance, as well as the importance of evaluating the employer match for retirement plans. Finally, Adam advises new employees to carefully consider the value of employer benefits when evaluating job opportunities, as they can significantly impact an individual's financial well-being. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of the Money Mastery Unleashed Podcast, host Adam Olson dives deep into the benefits of utilizing Roth conversions to achieve tax-free income in retirement. Adam shares his expertise, having assisted numerous clients with Roth conversion strategies, highlighting how this approach can significantly reduce the tax burden in retirement. He outlines ten reasons to consider Roth conversions, including tax diversification, tax bracket management, protection against future tax rate hikes, and long-term growth potential. Adam explains that Roth IRA accounts offer tax-free income without mandatory withdrawals at a certain age, making them an excellent tool for managing retirement income and leaving a tax-efficient legacy for beneficiaries. He also emphasizes the importance of healthcare cost coverage, flexible withdrawal options, and the ability to support early retirement plans. By implementing Roth conversion strategies, retirees can enjoy greater financial flexibility and potentially save thousands of dollars annually. Adam encourages listeners to explore how this strategy could benefit their retirement plans and invites them to consult with him for personalized guidance. Tune in to discover how Roth conversions can help you live your best retirement life, free from excessive tax burdens. "Roth conversions can assist in an early retirement by providing a tax-efficient income source before age 59 and a half, with the five-year rule in mind." Key Takeaways: The Importance of Roth Conversions Future Tax Rate Increases Efficient Legacy Planning Tool Early Retirement Planning Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, discusses the various benefits that employers offer new employees, emphasizing their importance in financial planning. Adam provides an overview of different types of employer benefits, including health insurance, voluntary benefits like dental and disability insurance, and retirement plans. He also highlights the significance of understanding the specific features of each benefit, such as deductibles and co-pays for health insurance, as well as the importance of evaluating the employer match for retirement plans. Finally, Adam advises new employees to carefully consider the value of employer benefits when evaluating job opportunities, as they can significantly impact an individual's financial well-being. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, discusses the power of compound interest, comparing it to the growth of muscles in a bodybuilder. It illustrates how consistent saving and investing can generate significant returns over time, emphasizing the importance of avoiding withdrawals during the accumulation phase to maximize benefits. Adam also highlights the potential downside of compound interest when applied to debt, where minimum payments can lead to accruing interest and a larger overall debt burden. He ultimately advises starting saving early to harness the positive power of compounding interest and avoid its negative consequences. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In today's episode of the Money Mastery Unleashed Podcast, Adam Olson, a Certified Financial Planner with Mutual of Omaha, dives into the crucial topic of retirement income planning. He explains the concept of safe withdrawal rates, a vital strategy for ensuring your money lasts throughout your retirement. Adam discusses how to structure your withdrawal rates and the importance of having a comprehensive plan for your total income needs, which vary from person to person. He introduces the traditional 4% rule, developed by William Bengen in 1994, and explores its relevance in today's economic landscape, emphasizing the need for flexibility and adaptability. Adam also covers the Go-Go, Slow-Go, and No-Go years, explaining how spending typically changes over the course of retirement and the impact of long-term care costs. He highlights alternative strategies like the guardrail and bucketing strategies, and the benefits of annuitizing part of your retirement assets.  "Retirement income planning is crucial to ensure you don't run out of money during your golden years." Key Takeaways: Safe Withdrawal Rates Sources of Retirement Income Retirement Spending Phases Planning for Long-Term Care Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, encourages readers to prioritize travel experiences, emphasizing the personal growth and broadened perspectives it provides. Adam advocates for responsible spending, urging readers to save and pay cash for vacations rather than using credit, as interest charges can significantly increase the cost. The chapter highlights the benefits of mission trips, which combine travel with service, offering a rewarding experience for both participants and the communities they serve. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, discusses the costs associated with traditional weddings, emphasizing that they can be very expensive. Adam highlights the many expenses involved, such as venue rentals, catering, and photography. He also explores the alternative of destination weddings, presenting them as a potentially more affordable option due to their smaller guest lists and the ability to combine the wedding ceremony and honeymoon. Adam emphasizes the importance of setting a realistic budget and avoiding debt when planning a wedding, regardless of the chosen style. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, discusses the financial aspects of owning and leasing a car, highlighting the importance of buying a reliable used car early on and avoiding large car loans. Adam emphasizes the depreciation of cars as a significant factor to consider, advocating for prioritizing financial stability over the allure of a luxury car. He also analyzes the pros and cons of leasing a car, emphasizing that owning a car outright generally offers greater financial benefits. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of Money Mastery Unleashed, host Adam Olson dives deep into the “bucketing strategy” for retirement savings. He discusses three types of accounts—tax-deferred, tax-free, and taxable—and how diversifying across these buckets can maximize flexibility and tax efficiency during retirement. Adam breaks down the benefits and considerations of each type of account, explaining how using a mix of these strategies can help mitigate rising tax rates and provide freedom in distribution planning. He also introduces the triple tax benefit of HSA accounts and why they are a powerful tool for future medical expenses. Adam emphasizes the importance of personalizing your approach based on individual financial needs, and why planning today for the changing tax landscape of tomorrow is crucial. Tune in to learn how to create a diversified retirement strategy that works for you. Whether you're early in your career or approaching retirement, this episode is packed with actionable advice to help you optimize your retirement plan. “Combining tax-free and taxable accounts can lower your tax burden during retirement and keep more of your hard-earned money working for you.” Key Takeaways: Importance of Tailoring Retirement Strategies to Individual Needs Advantages of Tax-Free Growth and Withdrawals Benefits of Long-Term Capital Gains Tax in Taxable Accounts Encouragement to Use All Three Buckets for a Balanced Strategy Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, explains the "Latte Effect," a concept that highlights the significant financial impact of small, seemingly insignificant purchases made regularly. Adam uses the example of daily latte purchases, demonstrating how these seemingly small expenditures can accumulate to substantial amounts over time. He encourages readers to become mindful of their spending habits and consider the long-term consequences of daily purchases. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, offers guidance on the responsible use of credit cards, emphasizing the importance of paying the balance in full each month to avoid accruing high interest charges. Adam also highlights the potential benefits of using credit cards, such as rewards programs and theft protection, but cautions against late payments, which can result in additional fees. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, discusses the financial burden of raising children, highlighting the significant costs associated with childcare, healthcare, and daily living expenses. While acknowledging the joy and fulfillment of parenthood, Adam emphasize the importance of financial preparedness before starting a family. He warns that expenses will increase significantly, especially with the addition of healthcare costs and potential daycare fees. Adam advocates for responsible financial planning and ensuring financial stability before bringing children into the world. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of the Money Mastery Unleashed podcast, host Adam Olson dives into critical retirement income planning and tax strategies specifically designed for self-employed individuals and business owners. Drawing from over a decade of experience as a Certified Financial Planner with Mutual of Omaha, Adam shares invaluable advice for entrepreneurs, solopreneurs, and larger business owners navigating the unique financial challenges that come with running their own businesses. With personal experience as a business owner himself, Adam emphasizes the long-term benefits of proactive financial planning, not just for individuals but for their families and future generations. Adam discusses the importance of diversification, highlighting the risks of relying solely on one business for financial security. He explores several key retirement planning tools such as 401(k)s, SIMPLE IRAs, and SEP accounts, all of which offer tax benefits that can provide financial flexibility down the road. Listeners will learn how to take advantage of these accounts to reduce current tax burdens and secure tax-free income in the future. Additionally, Adam introduces powerful tax-advantaged strategies like paying your children through the business to fund Roth IRAs, which can grow income tax-free, and the Augusta Rule, which allows business owners to rent out their primary residence for tax-free income. One of the episode's highlights is the deep dive into Health Savings Accounts (HSAs), which offer a triple tax benefit and serve as an effective retirement savings tool. Adam explains how HSAs, along with a high-deductible health plan, can cover medical expenses during retirement, all while growing tax-free over time. He also underscores the importance of Social Security planning, offering insights into how self-employed individuals can maximize these benefits for themselves and their families. Packed with practical tips and expert strategies, this episode is essential listening for self-employed individuals looking to build a diversified financial portfolio and safeguard their financial future. Whether you're starting to think about retirement or exploring new ways to optimize your taxes, Adam's expert advice will guide you in making smart, forward-thinking financial decisions. “Retirement planning for self-employed individuals is crucial to ensuring flexibility and financial security in your later years.” Key Takeaways: Retirement Income Planning for Self-Employed Individuals Paying Your Kids Through Your Business Social Security Planning Avoiding Common Mistakes Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, provides advice on how to determine the appropriate size of a mortgage. Adam stresses the importance of considering factors such as income, existing debt, and savings when deciding how much to borrow. He strongly advises against taking on a mortgage that exceeds 20% of your net income, emphasizing the need for cash flow flexibility. Adam highlights the impact of interest rates and the need for a 20% down payment to avoid Private Mortgage Insurance (PMI). He also recommends consulting with a financial advisor or mortgage broker to navigate the complexities of the mortgage process. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter of Adam Olson's book, “21 Things You Need To Know About Money”, discusses the advantages and disadvantages of renting versus owning a home. Adam argues that renting is not necessarily throwing money away, as it offers flexibility and lower initial costs. Conversely, homeownership provides equity building and potential appreciation, but comes with substantial upfront costs and ongoing expenses. He ultimately suggests that renting can be a viable option, especially for young adults, and that homeownership should not be viewed solely as an investment. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, explains the importance of credit scores and how they affect a person's financial life. Adam emphasizes that a good credit score is crucial for obtaining loans, credit cards, and even insurance at favorable rates. He provides practical advice on building and maintaining a good credit score, including strategies like timely bill payments, utilizing credit cards responsibly, and becoming an authorized user on a trusted individual's credit card. Adam also stresses the significance of regularly checking credit reports to detect any fraudulent activity. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of the Money Mastery Unleashed podcast, host Adam Olson, a seasoned financial planner with over a decade of experience at Mutual of Omaha, dives into essential retirement income strategies designed to secure financial stability during retirement. Adam emphasizes the importance of having a dynamic retirement income plan that adapts to life changes and market fluctuations, ensuring consistent and reliable income throughout retirement. He explains the critical need for structuring paychecks in retirement to mirror working years, avoiding financial stress, and maintaining lifestyle flexibility. Adam discusses key components of a robust retirement plan, including the integration of Social Security, pensions, and annuities to cover fixed expenses, while variable expenses are managed through investment portfolios. He also highlights the significance of understanding and managing required minimum distributions (RMDs) and potential tax implications, offering actionable insights to help listeners optimize their retirement strategies. Adam encourages listeners to proactively engage with a financial planner to create or reassess their retirement income plans, ensuring a secure and enjoyable retirement. "Maximizing Social Security benefits by delaying the higher-earning spouse's payout can provide long-term financial security for both partners." Key Takeaways: Importance of Retirement Income Planning Key Steps in Setting Up a Retirement Income Plan Social Security Strategies Utilizing Pensions and Annuities Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, emphasizes the importance of financial discipline, particularly for young adults. It advocates for prioritizing needs over wants, avoiding unnecessary debt by paying cash for non-essential items, and focusing on building wealth through savings and investing. Adam emphasizes that buying time, through services like yard work, can be more valuable than material possessions and suggests that buying “toys” can be postponed until after reaching a significant savings goal. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter from Adam Olson's book, “21 Things You Need To Know About Money”, discusses the rising problem of student loan debt in the United States. Adam argues that students should carefully consider the cost of college in relation to the potential salary for their chosen career, and suggests that community college could be a more affordable option. He also advises readers to understand how student loan repayments may be taxed and explores different ways to manage and pay off student loan debt. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this chapter of Adam Olson's book, “21 Things You Need To Know About Money”, Adam highlights the importance of young adults becoming self-sufficient after college by advocating for them to move out of their parents' homes and forge their own path. He argues that living independently, even in challenging circumstances, fosters personal growth, financial responsibility, and a stronger work ethic. Adam emphasizes the importance of becoming independent and developing a self-reliant mindset to achieve personal and professional success, even if it means taking a leap of faith and facing uncomfortable situations. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of the Money Mastery Unleashed podcast, Certified Financial Planner Adam Olson from Mutual of Omaha dives into the complexities of planning for healthcare costs in retirement. Highlighting the significant expenses that retirees may face, Adam provides a detailed overview of basic healthcare costs, Medicare, long-term care, and strategies to manage these expenses effectively. He explains the different parts of Medicare (A, B, C, and D), the importance of supplemental insurance, and the impact of premiums, co-pays, and deductibles. Additionally, Adam emphasizes the need for long-term care planning and introduces the benefits of Health Savings Accounts (HSAs) for tax-advantaged savings. Citing a Fidelity study, he underscores the substantial amounts needed to cover healthcare costs in retirement, urging listeners to incorporate comprehensive insurance planning into their retirement strategy. Adam's book, "The Red Zone Retirement Plan," offers an in-depth look at these concepts, providing further guidance for those seeking to secure their financial future. Tune in for actionable insights and practical advice to ensure peace of mind and a well-funded retirement. "Navigating healthcare costs in retirement is crucial to living your best retirement. Plan accordingly to fund these expenses for peace of mind." Key Takeaways: Understanding Healthcare Costs in Retirement Medicare Overview Long Term Care Costs Budgeting for Healthcare in Retirement Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

Adam Olson is a financial advice excerpt from a book titled "21 Things You Need to Know About Money." The text emphasizes the importance of  generating extra income through part-time work or side hustles for young adults. The Adam argues that even a few hours of extra work can significantly impact financial goals, like saving for retirement. He provides a real-life example of someone using part-time income to successfully contribute to a 401k plan, highlighting the potential for long-term financial benefits from consistent effort. Adam encourages readers to take advantage of readily available opportunities to increase their income and build a strong financial future. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

Chapter 3 of Adam Olson's book “21 Things You Need To Know About Money:” emphasizes the importance of personal development, arguing that investing in oneself through activities like education, mentorship, and health can lead to significant professional and personal growth. Actively engaging in personal development can increase income by boosting skills and enhancing work performance, ultimately leading to a more fulfilling life. Adam presents real-life examples and personal experiences to illustrate the tangible benefits of continuous personal development. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

What's Your Plan. CHAPTER 2: What Do You Got? Get It Together! Adam Olson's book, “What's Your Plan” chapter 2 provides financial advice for individuals seeking long-term financial freedom. This chapter emphasizes the importance of saving first by setting aside 20% of income, followed by giving 10% to charity. After these priorities are met, the remaining 70% can be used for spending on necessities and discretionary items. Adam encourage readers to visualize their dream retirement as a motivational tool for saving, and to carefully vet any charities before donating. This chapter also stresses the importance of having a strong work ethic to earn money, which is a crucial part of managing finances. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In today's episode of the Money Mastery Unleashed podcast, Adam Olson, a seasoned CFP and advisor with Mutual of Omaha, reveals an advanced strategy for turbocharging your tax-free retirement savings. With over 14 years of industry experience, Adam dives into the details of how high-income earners can put away more than $70,000 annually into their Roth accounts through a combination of mega backdoor Roth and backdoor Roth strategies. He explains how these strategies can be leveraged within 401(k) plans and Roth IRAs to achieve significant tax-free growth and income in retirement. Adam emphasizes the importance of working with a qualified advisor to navigate the complexities of these strategies, ensuring compliance with IRS regulations and maximizing the benefits of tax-free growth. By implementing these techniques, listeners can set themselves up for a financially secure future, free from the burden of future tax hikes. Tune in to discover how you can transform your retirement savings approach and secure a prosperous, tax-free retirement. "Utilize your 401(k) plan to its full potential with after-tax contributions and in-plan Roth conversions for maximum tax-free growth." Key Takeaways: Roth IRA and Its Advantages Income and Contribution Limits for Roth IRA Mega Backdoor Roth Strategy Tax Implications and IRS Compliance Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

This chapter aims to guide readers on how to manage their finances, emphasizing the importance of learning from past mistakes and gaining financial knowledge. The author, who was raised in a household where money was openly discussed, and financial literacy was valued, shares personal experiences and lessons learned from his parents and industry professionals. The book focuses on three key pillars: How to Get it, How to Keep it, and How to Grow it. Through stories and practical advice, it encourages readers to build positive financial habits and make informed decisions throughout their lives. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of the Money Mastery Unleashed Podcast, certified financial planner Adam Olson from Mutual of Omaha breaks down how maximizing your employer benefits can save you thousands of dollars annually. He walks listeners through the crucial open enrollment period, detailing the importance of evaluating health, life, and disability insurance options, as well as dental and vision coverage. Adam emphasizes the significance of understanding health insurance plan types, network providers, and out-of-pocket costs. He also discusses the benefits of Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), and their potential tax advantages. Listeners are advised to regularly review and compare employer benefits, especially if both spouses have coverage options, to ensure they are getting the best deal. Adam also highlights the value of employer-offered additional benefits such as wellness programs, commuter benefits, and tuition reimbursement. Adam shares practical tips on preparing for open enrollment and the importance of consulting with a financial advisor to optimize benefits and secure a financially sound future. "Maximizing your employer benefits can save you thousands of dollars each year." Key Takeaways: Key Considerations for Insurance Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) Practical Tips for Open Enrollment  Actionable Steps Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

Welcome back to The Money Mastery Unleashed podcast with your host, Adam Olson. In today's episode, we're diving into "10 Things You Need to Know to Live a Tax-Advantaged Retirement." Drawing from over 13 years of experience as a financial planner and the latest insights from a 2024 Northwestern Mutual survey, Adam highlights essential strategies to minimize taxes on your retirement savings. Learn how to strategically withdraw from Traditional and Roth accounts, make the most of HSAs and 529 plans, and utilize charitable donations to lower your taxable income. Adam emphasizes the importance of blending distributions to maintain a lower tax bracket and explores the benefits of Roth conversions before Required Minimum Distributions (RMDs) kick in. Additionally, discover how to leverage permanent life insurance and annuities for tax-free income and ensure a financially secure retirement. Tune in to uncover these vital tips and transform your retirement planning.  "Use a mix of Traditional and Roth retirement accounts to blend your distributions and minimize taxes over time." What you will learn: Traditional and Roth Accounts Charitable Donations Permanent Life Insurance and Annuities Tax-Advantaged Accounts Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website-- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of the Money Mastery Unleashed podcast, host Adam Olson welcomes Jordan Crowe, Director of Advisor Recruiting at Mutual of Omaha, to tackle essential questions for aspiring financial advisors. The discussion centers on what it takes to succeed in the financial services industry, especially for those interested in starting their career at Mutual of Omaha. Whether you're a young professional curious about the field or someone looking to make a career transition, this episode provides key insights. Jordan breaks down the three critical qualities that define an ideal candidate for a financial advisor role: being growth-oriented, entrepreneurial-minded, and tenacious. He shares how these traits are essential in overcoming early challenges in the industry, such as hearing numerous “no's” from potential clients and learning to persist. The episode highlights the importance of helping clients, not just selling, and how fostering genuine connections is crucial for long-term success. Listeners will also learn about the day-to-day responsibilities of a financial advisor, including prospecting for new clients, asking the right questions, and tailoring financial plans to meet individual needs. Jordan emphasizes that this career is about more than just numbers—it's about guiding clients through life's most important financial decisions and building lasting relationships. Finally, the episode covers Mutual of Omaha's unique career path, which offers stability through an employee role for up to two years before transitioning to an independent advisor. This structured approach allows new advisors to develop critical skills while maintaining financial security, making it an appealing option for those with families or financial commitments. If you're ready to learn how to launch a rewarding career in financial services, this episode of Money Mastery Unleashed is for you. Tune in to gain valuable insights and discover what it takes to succeed in this dynamic field. “At the end of the day, you're a business owner. What you put into this opportunity is what you're going to get out of it.” – Jordan Key Takeaways: Career Path in Financial Services Traits of a Successful Advisor Entrepreneurial Mindset Support and Resources from Mutual of Omaha Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of The Money Mastery Unleashed Podcast, financial planner Adam Olson tackles a critical question asked by many soon-to-be retirees: “Why can't I retire even with $1.8 million saved?” Through a real-life case study of a prospective client, Adam uncovers the often-overlooked financial and lifestyle factors that can prevent individuals from comfortably retiring, despite having what seems like a substantial nest egg. Adam shares the story of a 60-year-old professional who, despite having $1.8 million in savings, still faces financial obstacles preventing her from retiring. Her high cost of living, ongoing mortgage, car loan, and monthly expenses of $12,000 pose significant challenges. She's projected to receive only $3,000 per month in Social Security by age 67, leaving her with a substantial income shortfall. Through this example, Adam highlights key issues such as managing debt, healthcare costs, long-term care planning, and the importance of having guaranteed income sources like pensions or annuities. Listeners will gain valuable insights into why financial planning must account for more than just savings. Adam explains why diversifying investment portfolios, preparing for healthcare and long-term care expenses, and understanding withdrawal rates are critical for a successful retirement. He also emphasizes the importance of factoring in inflation and taxes, which can eat away at retirement income over time. Tune in to learn how careful planning can help you avoid common pitfalls and prepare for a more secure and comfortable retirement, even if you have a large retirement fund. Whether you're years away from retirement or approaching the finish line, this episode offers actionable advice for everyone. “When you retire, your property taxes, insurance, and maintenance and upkeep don't stop. So don't think that just because you retired, your housing expenses are going to go away.” Key Takeaways: Lifestyle Expenses Matter Healthcare Costs Don't End with Medicare Withdrawal Rate Misconceptions Lack of Guaranteed Income Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.

In this episode of the Money Mastery Unleashed podcast, host and certified financial advisor Adam Olson introduces the show's very first Q&A format, where he answers listener-submitted questions on various financial topics. Adam dives into three detailed questions that many professionals, married couples, and individuals may find themselves asking, providing valuable insights on how to manage high-interest home loans, retirement planning, and variable income investing. As a financial expert, Adam shares his expertise on maximizing savings, balancing debt repayment, and exploring different investment options to enhance financial well-being. The first question addresses a home loan with a 6% interest rate. Adam breaks down the importance of saving at least 20% of your income for retirement before considering paying down debt. He explains that while paying down a high-interest mortgage can be beneficial, it's essential to prioritize retirement savings and explore refinancing options when interest rates drop. Listeners will learn why low-interest mortgages (around 3%) may be “free money” and why paying them down sooner might not be the best financial strategy. The second question focuses on retirees struggling with rising costs and fixed incomes. Adam offers practical advice on how retirees can manage their finances, from cutting costs to evaluating insurance options and potentially seeking part-time work. For younger listeners, he emphasizes the importance of starting to save for retirement as early as possible to avoid financial struggles later in life. The final question tackles the challenge of variable income. Adam advises listeners in sales or other professions with fluctuating pay to prioritize building an emergency fund and setting a consistent savings goal. He also highlights the benefits of Roth investments and other tax-efficient strategies for high-income earners. With these practical takeaways, Adam provides actionable advice that applies to listeners from various financial backgrounds, helping them create generational wealth and secure their financial futures. This episode is packed with valuable insights for anyone looking to optimize their finances, whether it's managing debt, saving for retirement, or navigating variable income. Tune in every Tuesday for more financial wisdom and submit your questions to be featured in future episodes. “If you have extra income after that emergency fund is all established and fully funded for six plus months, then you can start to prepay some higher-interest debt.” Key Takeaways: High-Interest Mortgage Strategy Fixed Income in Retirement Variable Income & Investing Maxing Out Retirement Contributions Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.