RETIREMENT MADE EASY

Most people who are gearing up for retirement are heads-down focused on building savings. But there's one important thing they don't consider: what happens to your money once it's “locked away” in certain retirement products. In this episode, Gregg Gonzalez digs into annuities - what they are, why they're sometimes pitched so hard, and how they can quietly trap your savings if you're not careful. If you're just assuming a big 401(k) or IRA balance will mean total freedom in retirement, it's time for a closer look. He breaks down the four types of annuities, the fine print you need to watch for, and the difference between a tool that fits your goals and one that could slow you down. He shares real-world examples of how well-meaning people end up in bad products, and why working with someone who's truly on your side (not just selling something) can make all the difference. By the end, you'll not only be able to spot the traps, you'll know exactly what questions to ask, what options to consider, and how to move forward with a retirement strategy that matches your life, not just a sales pitch. You will want to hear this episode if you are interested in... (00:00) Why some retirement products can trap your savings. (03:24) Announcement of upcoming Social Security seminars and webinar idea. (05:24) Setting up today's focus: common misconceptions about annuities. (6:00) Breakdown of the 4 main types of annuities and when they might fit. (19:20) Listener Q&A: Social Security spousal benefits and retirement savings questions. (31:30) Closing thoughts on aligning retirement goals with financial behavior. Resources & People Mentioned 3 Steps to Retirement Planning Fidelity Retirement Savings Study Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetireStrongFA.com/Podcast Website: https://RetireStrongFA.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made Easy On Apple Podcasts, Spotify, Google Podcasts

Retirement doesn't come with a universal playbook, but you can learn a lot from people who've already been through it. Gregg shares stories from real clients that reveal what quietly sets the most successful retirees apart. These aren't surface-level tips, they're patterns that show up again and again in the lives of people who've built the kind of retirement others only hope for. The episode highlights three strategies that create a strong foundation: keeping cash accessible for both the unexpected and the inevitable, setting personal goals that matter to you (not just sound impressive), and staying regularly engaged with your financial picture over time. Together, they foster a sense of stability, clarity, and confidence that goes way beyond the numbers. You will want to hear this episode if you are interested in... (00:00) Why retirement advice needs real stories. (05:10) Why your emergency fund isn't enough. (10:40) The power of specific retirement goals. (15:00) Staying financially engaged without obsessing. (16:40) Social Security clawbacks & tax law shifts. Resources & People Mentioned 3 Steps to Retirement Planning Social Security Trustees Report Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made Easy On Apple Podcasts, Spotify, Google Podcasts

You may believe your retirement is all set, with savings secured and timelines mapped out, but then the questions start flooding in, shaking that sense of certainty. This episode reveals the questions people start asking as retirement gets closer, from Roth conversions and Social Security to how inherited money works.. Gregg walks through questions from listeners and clients that reveal the lesser-known stuff, like why turning 73 or 75 matters way more than you'd expect, what changes if you're still working, or how one checkbox on a beneficiary form can shift who ends up with your money. There's also a closer look at long-term care insurance and why the math on it surprises most people. This episode will make you stop and rethink your assumptions so that it doesn't cost you dearly in the future. You will want to hear this episode if you are interested in... (0:00) The real retirement questions you should ask sooner rather than later. (03:45) Listener question #1 - Roth conversions and the five-year rule. (05:04) Listener question #2 - Roth IRA vs. Roth 401(k) contribution limits. (07:44) Listener question #3 - Beneficiary designations: pro rata vs. per stirpes. (10:38) Listener question #4 - Social Security growth after full retirement age. (14:37) Listener question #5 - What if Social Security income becomes tax-free? (14:41) Listener question #6 - Required minimum distributions and age updates. (19:28) Listener question #7 - Why long-term care insurance costs as much as it does. (24:18) Listener question #8 - When retirement income and market dips collide. Resources & People Mentioned 3 Steps to Retirement Planning Ed Slott - America's IRA Experts - https://irahelp.com/ Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube   Subscribe to Retirement Made Easy On Apple Podcasts, Spotify, Google Podcasts  

Retirees usually think the tax decisions are done once they stop working. But the truth is, many are sitting on large pre-tax balances that can quietly lead to bigger tax bills later—especially when required minimum distributions kick in or a spouse passes away. It's not just about saving money, it's about how that money is taxed when you actually need to use it. Roth conversions offer a way to shift those tax liabilities earlier, on your terms. I explain when that tradeoff makes sense and when it doesn't, using clear, real-world examples. You'll hear how a couple with zero current tax liability converted money without paying a dime, and why converting in a year with lower income or a temporarily down market might open the door to big savings. I'll also break down why legacy plans, filing status changes, and Social Security taxation are key pieces of the puzzle. You will want to hear this episode if you are interested in... (0:00) The ins & outs of Roth conversions (1:55) The three tax buckets that shape retirement (6:32) When conversions are a no-brainer (and when they're not) (9:54) How your tax bracket—and filing status—change the math (17:05) Roths as a better inheritance for your kids (24:57) Clearing up common Roth misconceptions Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Most people don't think about market swings until their retirement accounts take a hit. If your 401(k) balance is dropping or you're feeling uneasy, you're not alone. Recent shifts, fueled by tariff changes and global uncertainty, have left many wondering what to do next. But you don't have to ride this out blindly. We break down why this is happening, how it impacts your savings, and what you can do to stay on track. Some investors take on more risk than they realize, and waiting too long to adjust can cost them. Knowing how to match your investments with your comfort level can make all the difference. By the end, you'll have a clearer picture of what's happening, how past downturns compare, and ways to protect your retirement without panic moves. Because the best way forward is always preparation—not fear. You will want to hear this episode if you are interested in... (0:00) Why retirement savings feel unstable (6:40) Listeners' concerns about retirement savings (9:30) The risk of being too aggressive with investments (11:40) The danger of over-concentration in a single stock (13:30) Social Security misunderstandings and key takeaways Resources & People Mentioned 3 Steps to Retirement Planning Visit Yahoo Finance to explore past market trends Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Most people heading into retirement focus on the numbers—savings, pensions, Social Security, and investments. But the biggest risk isn't always financial. The way you think about retirement can shape your entire experience, and too often, blind spots get in the way of a smooth transition. Conversations with pre-retirees show just how much mindset influences confidence, decision-making, and even long-term security. Common concerns like running out of money, healthcare costs, and inflation are valid, but they're not always the biggest threats. Shifting focus can reveal risks that were never even on the radar. With the right adjustments, retirement can feel less like a leap into the unknown and more like a plan coming together. Plus, some important listener questions get answered, covering pensions, taxes, and financial planning decisions that can make all the difference. Resources & People Mentioned 3 Steps to Retirement Planning Pension Benefit Guaranty Corporation (PBGC) Information – pbgc.gov Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Most people assume that if they've saved diligently, their retirement is secure. But the reality is that certain financial decisions—ones that seem harmless or even smart in the moment—can quietly erode your long-term security. Whether it's taking on unexpected debt, mismanaging investments, or making emotional money moves, these mistakes can cost retirees tens (or even hundreds) of thousands of dollars over time. Today, we uncover some of the most common and costly retirement pitfalls that people don't see coming. From high-interest home equity loans to over-investing in trendy stocks, we break down why these decisions can backfire and what you can do instead to protect your future. By the end of this episode, you'll have a sharper eye for potential risks and a game plan to ensure your money lasts as long as you do. You will want to hear this episode if you are interested in... (0:00) Retirement pitfalls (2:15) The biggest retirement mistakes people are making (5:12) The hidden cost of home equity loans & big purchases (10:30) Overloading on tech stocks & risky investments (13:49) The financial risks of helping adult children (19:20) Unnecessary life insurance & taking advice from the wrong people (25:00) Social Security, behavioral mistakes & staying on track Resources & People Mentioned 3 Steps to Retirement Planning Frank Luntz's Research Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

How do you turn your retirement savings into a steady paycheck that lasts? I've had a lot of questions about this lately—and for good reason. Without a well-thought-out withdrawal plan, people risk running out of money too soon, paying more in taxes than necessary, or simply feeling uncertain about how to manage their nest egg. Shifting from saving to spending isn't always easy, and I want to help people feel confident in their approach. That's why I like to keep things simple and intentional. In this episode, I'll walk through a practical way to organize retirement savings into different “buckets” based on when the money will be needed. I also share a real example of how someone ended up paying thousands more in taxes than necessary—just because of the way they withdrew their money. With a little planning, retirees can make their savings last and still have the freedom to enjoy life. You will want to hear this episode if you are interested in... (0:00) Intro (1:10) Sources of Income (3:05) Costly Withdrawal Mistakes (7:50) The Spending Mindset Shift (12:10) The Three-Bucket Method (18:40) Which Accounts to Use First (24:00) Adjusting Over Time Resources & People Mentioned 3 Steps to Retirement Planning Retirement Budgeting Tool 2025 Market Outlook from LPL Financial Episode 72: The Bucket Strategy Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Are you or someone you love a teacher, firefighter, or government worker? If so, you might be impacted by two little-known Social Security provisions—the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These rules have reduced or even eliminated Social Security benefits for millions of hardworking Americans. But change is finally here. The Social Security Fairness Act could make a massive difference for retirees like you. Today, we're breaking down what this legislation means, who it impacts, and how it could completely transform your retirement. Plus, I'll answer your listener questions about: How to avoid early withdrawal penalties on retirement funds if you retire before 59 ½ Contributing to a Roth IRA when you don't have a paycheck Navigating deferred compensation plans without creating a tax headache What happens to your HSA funds after retirement If you're ready to maximize your retirement benefits and make confident decisions about your future, you're in the right place. Let's dive in! > You will want to hear this episode if you are interested in... [4:10] What we're covering in today's episode [5:29] What's happening with Social Security [6:33] Understanding the Social Security Fairness Act [11:35] Potential changes to how Social Security is taxed [15:57] Listener Question #1: Avoiding an early withdrawal penalty [19:27] Listener question #2: Can you contribute to a Roth IRA without a paycheck? [23:17] Listener question #3: Deferred compensation plans  [27:31] Listener question #4: What happens with HSA plans when you retire? [28:57] Listener question #5: How do you get a spousal benefit from an ex? [31:17] Listener question #6: How do you help retired family members? Resources & People Mentioned 3 Steps to Retirement Planning The Social Security Fairness Act Section 72(t)  Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Retirement is one of the biggest milestones in life, and for many, 2025 and 2026 will mark the beginning of this long-awaited chapter. As portfolios have outperformed expectations, more people are realizing their retirement dreams sooner than planned. In this episode, I'll share inspiring client stories, practical lessons from 2024, and key insights to help you prepare for your own journey. From understanding why bonuses matter more than you think to exploring the power of legacy planning, we'll cover the essential strategies to navigate retirement with confidence.  Whether you're nearing retirement or just starting to plan, these takeaways will equip you to make the most of your future. You will want to hear this episode if you are interested in... [0:38] Make sure to check out our YouTube channel [2:57] Why you should never turn down a bonus [7:45] There will be a lot of people retiring in 2025/2026 [14:48] Lesson #1 from 2024  [16:48] Lesson #2 from 2024 [19:34] Lesson #3 from 2024 Resources & People Mentioned 3 Steps to Retirement Planning 2025 Market Outlook  Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

As the year comes to a close, it's the perfect time to review your financial strategy and make the most of every opportunity to optimize your tax situation. In this episode of Retirement Made Easy, we're diving into practical, actionable year-end tax planning tips to help you finish the year strong. You'll learn how tax-loss harvesting can save you money, when a Roth conversion might be a smart move, and how charitable giving, 529 plans, and IRA contributions could work in your favor. We'll also cover key considerations for retirees and why taking a close look at where you stand for the year is so important. Take charge of your year-end planning today.  You will want to hear this episode if you are interested in... [1:30] Submit a question at RetirementMadeEasyPodcast.com! [2:27] Can you take advantage of tax-loss harvesting? [4:41] Are you able to make any Roth conversions? [9:54] Charitable giving, 529 plans, and IRA contributions [12:30] Considerations for someone already retired  [13:44] Where do you stand for the year?  Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Curious about the changes coming to IRAs and 401Ks in 2025? In this episode of Retirement Made Easy, we're breaking down the latest updates to help you plan your retirement strategy. Learn about the new contribution limits for IRAs, Roth IRAs, and 401Ks, including special allowances for those aged 60–63. We'll also cover updated income limits for Roth IRAs, automatic enrollment in 401Ks, and reduced penalties for missed required minimum distributions (RMDs) on inherited IRAs. Don't miss this essential guide to staying ahead of the curve and making the most of your retirement savings! You will want to hear this episode if you are interested in... [2:24] Visit RetirementMadeEasyPodcast.com for FREE resources [3:00] IRA and Roth IRA contributions for 2025 [4:32] Contribution limits for 401Ks [7:03] Income limits for Roth IRAs [8:41] Penalties for missed RMDs of inherited IRAs [16:28] More changes to come for 2025 Resources & People Mentioned 3 Steps to Retirement Planning Visit RetirementMadeEasyPodcast.com for FREE resources Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

In this episode of the Retirement Made Easy Podcast, we dive deep into the 2025 Cost-of-Living Adjustment (COLA) for Social Security. We break down how the COLA works and what it means for your retirement planning. With the 2025 COLA coming in at 2.5%, we explore how this adjustment could affect your benefits—whether you're still working or already collecting Social Security. We also discuss the projected rise in Medicare Part B premiums and why it's crucial to plan conservatively for future costs. Tune in to discover how the COLA can be a powerful tool in your retirement strategy, while understanding the importance of not relying too heavily on it. If you're planning for retirement, this episode is packed with essential insights to help you build a more secure financial future. You will want to hear this episode if you are interested in... [2:13] Check out our free resources at RetirementMadeEasyPodcast.com [3:18] How Social Security's cost-of-living adjustment works [8:25] What type of COLA should we project for the future?  [10:36] Expected future cost of Medicare Part B premiums [13:25] The COLA is incredibly powerful [17:40] Retirement is a journey—not a finish line [20:25] Plan conservatively and err on the side of caution Resources & People Mentioned 3 Steps to Retirement Planning Cost-of-Living Adjustment History Monthly Part B Premiums and Annual Percentage Increases Calculating Medicare Part B costs Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

One of the biggest questions people have about retirement planning is: “Will I have enough saved?” This episode of Retirement Made Easy dives into just that—how to determine the “magic number” you'll need to retire comfortably and securely.  From evaluating your current expenses to assessing your future goals, we will start to cover all the bases to help you calculate your retirement needs with confidence. Whether you're thinking about traveling, leaving a legacy for your loved ones, or simply covering the basics, this episode offers practical steps to ensure your money lasts through retirement, no matter how long that might be. Listen in to find out how to navigate expenses, balance risk, and prepare for a lasting retirement. You will want to hear this episode if you are interested in... [2:50] Get free resources at RetirementMadeEasyPodcast.com [4:56] Look at your expenses, budget, and income [12:04] What do you like to spend money on? [14:42] How much will you need to save? [18:35] Do you want to leave an inheritance? Resources & People Mentioned 3 Steps to Retirement Planning I'm 65 With $1 Million - How Much Can I Expect to Spend in Retirement? EveryDollar Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

When it comes to retirement, healthcare planning isn't just an afterthought—it's one of the most important decisions you'll make. Will your current savings cover future healthcare expenses? How will you bridge the gap if you retire before Medicare kicks in? Without a solid plan, unexpected medical costs could delay your dream retirement. In Episode #173, we break down the key questions and strategies you need to consider to stay ahead of healthcare challenges in retirement. Whether you're planning for your own retirement or helping a spouse navigate Medicare options, this episode will arm you with the tools to retire on time and on your terms. You will want to hear this episode if you are interested in... [1:45] The five pillars of retirement planning [2:20] Check out RetirementMadeEasyPodcast.com for free resources! [3:41] Do you have to wait until you're 65 to retire and get on Medicare? [6:31] Saving in an HSA can cover healthcare expenses [10:53] Will healthcare expenses delay your retirement?  [13:07] What will Obamacare cost per month? [16:18] Does your employer pay out unused vacation days? [17:49] Why would you consider transferring money into an HSA? [20:44] The basics of Medicare + supplements [25:53] Benefits and drawbacks of Medicare Advantage plans [30:23] Does your plan adequately adjust for inflation? [31:09] Check out the Retirement Made Easy YouTube channel  Resources & People Mentioned 3 Steps to Retirement Planning Obamacare Federal Poverty Level Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Getting through retirement while being able to pay all of your expenses is the goal. But how do you make it happen? You'll have to make decisions before and during retirement that will impact whether or not it's successful. I answer some questions directly related to financially surviving retirement in this episode of Retirement Made Easy.  You will want to hear this episode if you are interested in... [1:46] Question #1: Should you build an expected inheritance into your plan? [5:19] Question #2: How can you calculate costs in retirement?  [8:24] Question #3: How does disability work with life insurance?  [10:25] Question #4: How does the survivor benefit work when divorced?  [13:05] Question #5: Why do you need to find specialists? Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

When are the best times for Roth conversions? Should you invest in a target-date fund? Can you avoid the 10% early withdrawal penalty? These are just a few of the questions I'll tackle in this special Listener Questions edition of Retirement Made Easy!  Preparing for retirement is complicated at best. I want to make sure I'm consistently answering the questions that are top of mind for my listeners. So if you have a question, head on over to RetirementMadeEasyPodcast.com and submit one! You will want to hear this episode if you are interested in... [0:28] Submit questions are RetirementMadeEasyPodacst.com [2:57] Question #1: When are the best times for Roth conversions?  [8:23] Question #2: Should you invest in a target-date fund?  [13:59] Question #3: How do I request a lump sum pension?  [16:57] Question #4: Can you avoid the 10% early withdrawal penalty? [19:55] Question #5: How does 401K matching work? [22:28] Question #6: How does the survivor benefit work when divorced?  [25:07] Question #7: How do long-term capital gains taxes work?  Resources & People Mentioned Check out the Retirement Made Easy YouTube channel!  3 Steps to Retirement Planning Rule 72T Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

When should you claim your Social Security benefits? What do benefits look like for teachers who contribute to Teacher Retirement Systems? What is the survivor step-up strategy? In this episode of Retirement Made Easy, we'll dive into some of the more complex areas of Social Security that people need to know about but are rarely told.  You will want to hear this episode if you are interested in... [1:48] Check out our website for some FREE resources [2:27] Should you claim sooner or later? [6:19] The way Social Security is taxed [8:51] The GPO or WEP rules for survivor benefits [12:17] The survivor step-up strategy [19:34] Cost-of-living adjustments [24:03] How the spousal benefit works Resources & People Mentioned 3 Steps to Retirement Planning Widows Move Forward on Their Own – But Not Alone Social Security Cost of Living Adjustment Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Social Security can be difficult to understand. The rules can be difficult to decipher. Answers are nearly impossible to find. This leaves most people frustrated and confused.  In this episode, I'm going to separate the truths from the many rumors you often hear and help you build your knowledge about Social Security. My goal is for you to walk away more informed about your future. Don't miss it.  You will want to hear this episode if you are interested in... [0:34] Make sure you follow our YouTube channel! [4:17] How do you earn a Social Security check? [8:27] How does the spousal benefit work with credits?  [11:43] How do spousal benefits work with ex-spouses?  [13:26] How does the survivor benefit work?  [16:04] Understanding your Social Security statement [18:03] Collecting your benefits while working  [19:40] How benefits are allocated monthly  [20:39] What if you want to collect benefits and work?  [23:21] Suspending or stopping your Social Security benefits Resources & People Mentioned 3 Steps to Retirement Planning SSA: How You Become Eligible for Benefits SSA: Primary Insurance Amount  SSA: Form W-4V SSA: Form 521 Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

2024 has already been full of many in-depth conversations with current and prospective clients. There have been some common threads among most of those conversations. From those common threads, I've pulled five lessons that we can all learn and benefit from when planning for retirement. Listen to this episode of Retirement Made Easy to learn what they are! You will want to hear this episode if you are interested in... [2:41] Lesson #1: Be careful who you get advice from [8:42] Lesson #2: Invest in line with your risk tolerance [12:29] Lesson #3: Make sure you have the details right [16:18] Lesson #4: Don't be overconfident [18:50] Lesson #5: Always ask, “What am I missing?”  Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Lately, I've been getting a lot of questions about 401K loans and whether or not they're worth it. People are asking things like, “How do you take out the loan? How does paying it back work? Should we ever consider it? What are our other options?” I'm a financial planner. My job is to give you all of the information necessary so you can make informed decisions. Because at the end of the day, these decisions are yours. So, in this episode of the Retirement Made Easy podcast, I'm going to give you the full picture and let you decide.  You will want to hear this episode if you are interested in... [3:10] Check out our website for FREE resources [4:45] The basics of 401K loans  [7:55] The risks of taking a 401K loan [14:06] Dipping into a Roth IRA [15:49] Alternatives to a 401K loan [19:34] Consider short-term and long-term goals Resources & People Mentioned 3 Steps to Retirement Planning Check out our website for FREE resources The 5-year Roth IRA rule  Episode #118: 3 Types of Accounts You Want to Have to Save for Retirement Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

People often ask me where they should retire. Should they relocate to a new city or state? Most people assume when they retire that they need to move to make the most of their income.  But the answer isn't clear-cut. Everyone has different preferences. In this episode of Retirement Made Easy, I'll dive into some of the factors you should consider to make that decision.  I'll also cover a few areas of retirement planning that have most people confused and shed some light on the situation. Don't miss it!  You will want to hear this episode if you are interested in... [1:58] The Mid-Year Market Outlook is coming in July! [2:57] Where is the best place to retire? [4:51] Factors that influence people to relocate [13:56] When do you have to take required minimum distributions? [16:48] Most people don't understand Roth conversions [19:00] You are responsible for the outcome of your 401K Resources & People Mentioned 3 Steps to Retirement Planning SECURE 2.0 Act The Most Affordable U.S. States to Retire in 2024 Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

“I'm 60 years old and have $1 million saved. Do I have enough to retire?”  I had a conversation with someone who had saved over $1 million and had been told he could retire. So he did retire—and completely regretted it. He wishes someone had told him to wait longer. Sadly, $1 million doesn't go that far anymore.  Too many people answering this question neglect to address all of the factors that influence whether or not you've saved enough to retire. In this episode of the Retirement Made Easy podcast, I'll dive into some of the factors you need to consider in three different scenarios. Because you have to take into account far more than what you have saved.  You will want to hear this episode if you are interested in... [3:49] Scenario #1: Retiring at 60 with $1 million saved [7:41] Scenario #2: Retiring at 60 with $1 million saved [12:53] Scenario #3: Retiring at 60 with $1 million saved [17:00] Why the answer is never as simple as yes or no Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Over the last two months, we've had close to 8 people contact us to put together a retirement plan because they're fearful of being downsized. If they got laid off, could they afford to retire? People are looking for peace of mind and a retirement plan helps cover the what-ifs in life.  Tom Hegna wrote the book, “Don't Worry, Retire Happy.” In it, he brings up some good points when it comes to retirement planning and what to be aware of. I tweaked his methodology to make it my own. So in this episode of the Retirement Made Easy podcast, I'll cover the 7 steps you need to have a secure retirement.  You will want to hear this episode if you are interested in... [0:28] Why you need a retirement plan in place (and how we can help you)  [6:11] Step #1: Get a retirement plan in place  [8:05] Step #2: Maximize Social Security benefits and pensions [8:45] Step #3: Consider a hybrid retirement [10:40] Step #4: Account for inflation  [14:51] Step #5: Protect your dollars from taxes  [17:30] Step #6: Have a plan for long-term care [18:46] Step #7: Use your home equity wisely Resources & People Mentioned 3 Steps to Retirement Planning “Don't Worry, Retire Happy" Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube   Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

I've been helping people plan for their dream retirement for the last 16 years. I've nearly heard it all. I've had to tell people they can't retire yet or that they have to save far more than they planned. The people who make these mistakes derail their retirement and jeopardize their success. I detail the top 7 mistakes I see that you'll regret forever in this episode of the Retirement Made Easy Podcast!  You will want to hear this episode if you are interested in... [4:05] Mistake #1: Borrowing from a 401k [8:06] Mistake #2: Planning to work indefinitely [10:37] Mistake #3: Buying a timeshare [12:02] Mistake #4: Delaying saving for retirement [14:33] Mistake #5: Diverting the money to your kids [19:28] Mistake #6: Avoiding investing in the stock market [24:20] Mistake #7: People that relocate on a whim Resources & People Mentioned 3 Steps to Retirement Planning 16 Retirement Mistakes You Will Regret Forever Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

I've recorded over 160 episodes since the Retirement Made Easy podcast launched. In this special “Greatest Hits” episode of the Retirement Made Easy podcast, I'll share snippets from the 5 most downloaded episodes. They include some of my best advice for navigating retirement preparation, so you can live out the retirement of your dreams.  Have an idea for a future episode topic? Do you have a question you need answered? Feel free to submit your questions to me at RetirementMadeEasyPodcast.com! You will want to hear this episode if you are interested in... [0:33] The 5 Most Downloaded Episodes of 2023 [3:21] Episode #5: 5 Ways to Prepare for Retirement, Ep #154 [7:31] Episode #4: What Social Security Isn't Telling You, Ep #150 [12:30] Episode #3: The Level of Detail Required in a Great Retirement Plan, Ep #145 [18:56] Episode #2: The Basics of Managing Your Retirement Income, Ep #143 [28:35] Episode #1: How Saving for Retirement May Change in 2024, Ep #146 Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Do election years impact the stock market? If so, how? We know that election years introduce a rollercoaster of emotions for a variety of reasons. Those emotions tend to influence the stock market and the decisions individual investors make. So in this episode of Retirement Made Easy, I'll share how the market responds to election years—and what you should do about it.  You will want to hear this episode if you are interested in... [2:00] Head to RetirementMadeEasyPodcast.com!  [2:53] Election years are a roller-coaster ride of emotions  [7:58] The presidential cycles and the stock market [11:36] How the stock market performed during each term [12:55] You can't speculate on what will happen in the market Resources & People Mentioned 3 Steps to Retirement Planning Presidents and the Stock Market How Presidential Elections Affect the Stock Market Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

In this special episode of the Retirement Made Easy podcast, I revisit some of the most commonly asked—and popular—questions from 2023. We'll tackle everything from capital gains tax to tax mapping for my clients. As tax-filing season comes to an end, these are some important things to keep in mind. Give it a listen!  You will want to hear this episode if you are interested in... [1:33] Question #1: How does a capital gains tax work?  [3:39] Question #2: Did contribution limits increase? [5:20] Question #3: How does the gift tax exclusion work? [8:09] Question #4: How do you convert a beneficiary IRA? [11:52] Question #5: How does tax mapping work for my clients? Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

What factors go into the social security claiming decision? How do strategies differ based on your age, health, and marital status? Where do you even start? Social security planning is often neglected—or at the very least not given the attention it deserves.  In this episode of the Retirement Made Easy podcast, I hope to start the conversation about Social Security claiming strategies. I want each of you to be able to make an informed decision with your financial planner. Hit the play button to learn more!  You will want to hear this episode if you are interested in... [2:57] Social security planning can't be neglected [5:10] Claiming strategies for single people  [8:51] Claiming strategies for people still working [12:19] The break-even analysis [16:13] Claiming strategies for married people  [20:32] The answer isn't black and white Resources & People Mentioned 3 Steps to Retirement Planning Scotty Kilmer on YouTube Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

What happens if you start collecting Social Security payments but feel like you've made a mistake or taken it too early? Did you know that you can stop or suspend the benefits? Secondly, when you start collecting Social Security there's an option for a lump-sum payment. Learn more about this little-known Social Security strategy in this episode of Retirement Made Easy! And as a bonus, I'll answer three listener questions!  You will want to hear this episode if you are interested in... [2:08] Submit a question at RetirementMadeEasyPodcast.com! [6:19] Using Subsidies for Retirement Plans to Fix Social Security [12:45] Social Security withdrawal options  [15:26] Social Security's lump-sum option  [17:36] Listener Question #1: Should I roll a 403B into an IRA? [21:25] Listener Question #2: Should I roll over my 401k at 57? [24:50] Listener Question #3: How does disability work with life insurance?  Resources & People Mentioned 3 Steps to Retirement Planning The Case for Using Subsidies for Retirement Plans to Fix Social Security Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Most “Top 10 Mistakes You're Making in Retirement” articles are vague, mostly common sense, and of little use to their readers. And when you read these articles, you have to consider the source. A bank is never going to tell you that having debt in your retirement is a mistake because they want to sell you loans! I wanted to share mistakes that I see every single day working in my firm—mistakes that you won't find in most articles. 90% of our clients are 55 and older working toward their dream retirement. I've seen it all. So in this episode of the Retirement Made Easy Podcast, I'll cover 10 retirement planning mistakes you need to think about.  You will want to hear this episode if you are interested in... [1:41] Ask me questions at RetirementMadeEasyPodcast.com! [2:45] Mistakes to avoid making in retirement [6:08] Mistake #1: Not accounting for an early retirement [8:39] Mistake #2: Neglecting planning for healthcare [9:30] Mistake #3: Not understanding the impact of inflation [10:40] Mistake #4: Neglecting tax planning  [12:02] Mistake #5: Not understanding Social Security  [13:30] Mistake #6: Failing to address long-term care expenses [15:06] Mistake #7: Forgetting about the big ticket items in retirement [18:40] Mistake #8: Not understanding how your money helps you reach goals [20:43] Mistake #9: Not having your goals written down [22:25] Mistake #10: Not understanding sequence of return risk Resources & People Mentioned 3 Steps to Retirement Planning 16 Retirement Mistakes You Will Regret Forever J.P. Morgan 2023 Guide to Retirement Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube   Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

What are required minimum distributions (RMDs)? How will they impact you? How do we account for them? Too many financial advisors neglect to help their clients plan for RMDs. I am not one of them. I cover the basics that you need to know in this episode of Retirement Made Easy.  You will want to hear this episode if you are interested in... [1:54] Carefully choose the people you take advice from [5:29] Something you need to know about 401ks [9:47] The basics of required minimum distributions [13:28] Why you want to work with a professional [15:22] The various ways you can take distributions  [19:07] Know that the time is coming and plan for it [20:46] RMDs for inherited accounts are different Resources & People Mentioned 3 Steps to Retirement Planning 2024 Tax Guide RMD Calculator Qualified Charitable Distribution Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Let's wrap up 2023—and kick off 2024—with another round of your questions, answered! In this episode of the Retirement Made Easy podcast, I'll answer six listener questions, covering everything from how severance pay is taxed to how the pop-up feature on pensions work. I'll also share my thoughts on what 2024 has in store. Give it a listen! You will want to hear this episode if you are interested in... [2:07] Question #1: What happens to unvested 401k money? [5:31] Question #2: How is severance pay taxed? [7:38] Question #3: What is the outlook for 2024? [12:22] Question #4: What is the pop-up feature on pensions? [16:06] Question #5: How do you convert a beneficiary IRA? [19:48] Question #6: How does tax mapping work for my clients? Resources & People Mentioned 3 Steps to Retirement Planning LPL Financial 2024 Outlook Report Fidelity 2024 Stock Market Outlook Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube   Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

What are 5 ways you can prepare for retirement? Why can actively managed funds be risky in retirement? How does a divorce impact your social security? In the last two episodes of 2023, I plan on answering some amazing listener questions, including these. Listen to this episode of Retirement Made Easy for some rapid-fire answers to your questions.  You will want to hear this episode if you are interested in... [2:40] Question #1: 5 Ways to prepare for retirement [7:02] Question #2: The risks of actively managed funds  [10:56] Question #3: Customer service should be top priority [12:44] Question #4: How does a divorce impact social security? [15:41] Question #5: Should I work with Fisher Investments? [16:13] Question #6: How to pay for long-term care Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

I've received numerous questions all running along the same theme: Are we heading into a recession? What would it mean for the stock market moving forward? How will it impact your retirement? Many of you are concerned that we'll be entering a recession in 2024. In this episode of the Retirement Made Easy podcast, I'll cover what a recession is, the trends we're seeing, and what the stock market teaches us about investing. Don't miss it! You will want to hear this episode if you are interested in... [0:43] Check out RetirementMadeEasyPodcast.com! [3:02] Are we on the verge of a recession?  [6:36] What the stock market teaches us about investing [11:34] Contributions toward Roth IRAs and 401ks in 2024 Resources & People Mentioned 3 Steps to Retirement Planning ERISA Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube   Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Are you on the same page as your spouse when it comes to retirement planning? Do you both understand your retirement plan? Even if one of you handles the finances, both of you need to understand the ins and outs of your retirement plan. It's inherently important. How do we develop a plan that everyone understands that makes sense? That's what I'll cover in this episode of Retirement Made Easy.  You will want to hear this episode if you are interested in... [4:21] Why your spouse needs to be involved in retirement planning [6:36] Why you need to understand your retirement plan [8:10] How to keep your uninterested spouse engaged  [15:06] Question #1: Should you build an expected inheritance into your plan? [19:25] Question #2: How can you calculate costs in retirement?  Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

What could go wrong in retirement? What if the “what-ifs” become realities? How will it impact your 30-year retirement? We don't know what the future holds which is why it's important to think about the variables. There will be things outside your control but you can reduce risks by taking retirement planning seriously.  No one plans on “failing” at retirement but many people fail to plan ahead of time. But the choices you make will have long-lasting implications. You need a game plan in place. In this episode of Retirement Made Easy, I talk about some of the “what-ifs” and what you can do about them.  You will want to hear this episode if you are interested in... [4:59] My biggest recommendation [5:53] Why a nonchalant mindset makes me anxious  [8:10] What if you're overly concentrated in a single stock? [10:51] What if you overspend during retirement? [15:22] What if you waste money on something you “want?” [18:13] What if you accidentally trap your money?  [20:26] The importance of identifying the what-ifs Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Social Security isn't likely intentionally misleading us but they are leaving out some details that every person contemplating retirement needs to know. Social Security announced the cost of living adjustment for 2024: 3.2%. This will go into effect 1/1/2024. However, your benefit won't likely go up the full 3.2%. Why? I'll share the answer in this episode of Retirement Made Easy.  You will want to hear this episode if you are interested in... [1:48] Check out RetirementMadeEasyPodcast.com! [2:47] The cost of living adjustment and Medicare Part B [10:03] Social Security benefits will be cut [15:04] Social Security benefits won't likely cover monthly expenses Resources & People Mentioned 3 Steps to Retirement Planning The Consumer Price Index Voluntary Withholding Request Social Security's COLA for 2024 is 3.2% SSA.gov Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube   Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

What is the assumed life expectancy for retirement? What accounts can you open for your grandchildren? Should everyone follow the 60/40 rule? The questions have been rolling in! So in this episode of the Retirement Made Easy podcast, I'll answer some questions and give you a starting place for a conversation with your retirement planner.  You will want to hear this episode if you are interested in... [3:09] Question #1: What is the assumed life expectancy for retirement? [6:22] Question #2: Why not follow the 60/40 rule for investments? [12:01] Question #3: Should you use numerous professionals—or one? [15:38] Question #4: What accounts can you open for grandchildren? Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Where do you want your assets to go when you're no longer here? I know it may seem morbid, but this is an important part of retirement planning that most people neglect. But the heart of the matter is your family. What do you want to leave behind? Or do you want to leave money to your favorite charities?  Doing what I do for a living, I have these tough conversations every day. It's my job to make recommendations to make sure your wishes are carried out seamlessly and tax-efficiently. In this episode of the Retirement Made Easy podcast, I share the story of a couple who thought they had a great plan—until I started asking questions.  You will want to hear this episode if you are interested in... [3:07] Check out RetirementMadeEasyPodcast.com! [3:51] Setting the stage: An 18-year-old plan [8:43] Splitting the retirement accounts  [12:10] Splitting a home equally [14:44] Beneficiary planning for four children Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

In 2019, there were 61.5 million people on Medicare. By 2027, it's estimated that 75 million Americans will be on Medicare. That's just four years from now. The #1 reason that people push off retirement is because health insurance is too expensive. Do you know what you'll be paying for health insurance when you retire and get on Medicare? Medicare is multi-faceted. It can be complicated to understand. So in this episode of Retirement Made Easy, I'll break down the very basics of Medicare planning to help you make a more informed decision about your retirement.  You will want to hear this episode if you are interested in... [3:47] Submit a question at RetirementMadeEasyPodcast.com [6:05] Understanding the basics of Medicare Part A & B [8:28] Calculating your Medicare Part B premium  [11:59] Medicare Part C: Medicare Advantage vs. Medicare Supplement [14:48] Medicare Part D: Prescription drugs  [15:44] How do you choose the right plan? [18:01] Make Medicare planning part of retirement planning Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

How will things change for those saving for retirement in 2024? What is the estimated cost of living adjustment going to be? Do you think you're on track for a comfortable retirement? These are the questions I discuss in this episode of the Retirement Made Easy podcast. If you're planning for your dream retirement, these are things you need to know. Don't miss it!  You will want to hear this episode if you are interested in... [1:37] Check out RetirementMadeEasyPodcast.com [2:20] Changes to the catch-up contribution in 2024 [8:50] How much should you save for retirement? [12:45] The estimated cost of living adjustment for 2023 [14:06] Are you on track for retirement?  Resources & People Mentioned 3 Steps to Retirement Planning Ed Slott High-income retirement savers may have to pay tax now on catch-up contributions. Eventually. T. Rowe Price Says You Need This Much Saved For Retirement Based on Your Income Cost-of-Living Adjustment for 2024 Could Be 3.1% Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

What will make or break your retirement plan? What makes a plan weak or unrealistic? What needs to be factored into the overall strategy? How do we build a great retirement plan? A retirement plan isn't just reviewing your investment statements. A far greater level of detail is required to make sure your dream retirement isn't just a dream—but a reality. So in this episode of Retirement Made Easy, I share a high-level overview of what we do to build a great retirement plan.  You will want to hear this episode if you are interested in... [2:16] Why it's time to build/update your retirement plan [7:47] Check out RetirementMadeEasyPodcast.com [10:06] Addressing health insurance in retirement [13:48] Do you want to earmark funds for travel?  [14:27] What are your goals and objectives? [16:22] Factoring inflation into your retirement plan [18:08] Your retirement plan needs to be customized to you [19:56] Do your investments align with your goals? [21:00] Where is your income coming from? [22:14] Making your retirement plan tax-efficient [23:25] Legacy, estate, and beneficiary planning Resources & People Mentioned 3 Steps to Retirement Planning The Retirement Story Everyone NEEDS to Hear, Ep #6  Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Can you convert a beneficiary IRA to a Roth IRA? Can you roll a 401k into a 403B? What about alternative investments—are they worth the risk? The questions have been rolling in, so in this episode of the Retirement Made Easy podcast, I'm tackling some of the most asked questions I've received. Don't miss it!  You will want to hear this episode if you are interested in... [4:19] Question #1: Can you convert an inherited IRA to a Roth IRA? [7:44] Question #2: Can you roll a 401k into a 403B? [12:45] Question #3: Are alternative investments risky? [15:49] Question #4: When do survivor benefits begin? [18:51] Question #5: Can a non-working spouse contribute to a Roth IRA? [20:38] Question #6: How does the gift tax exclusion work? Resources & People Mentioned 3 Steps to Retirement Planning Atomic Habits by James Clear Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

I've had numerous people ask me about managing their income in retirement. Your income in retirement will be different from everyone else's, unique to you. But what sources can you draw from? What will it look like? How do you plan for it? Where can you go wrong? I'll start to dissect each of these topics in this episode of Retirement Made Easy. I'll lay out some of the important things you need to keep in mind as you manage your retirement income. Check it out!   #Retire #Retirement #RetirementPlanning #RetirementPlan #FinancialFreedom #investing #investments #DaveRamsey #SmartVestorPro You will want to hear this episode if you are interested in... [1:56] Check out RetirementMadeEasyPodcast.com!  [4:25] The main source of retirement income: Social Security  [6:34] Other common sources of retirement income [8:58] The most important retirement income source [12:00] Have a retirement income game plan [20:28] Create a tax-efficient retirement income stream Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Emotions are often the drivers of our financial decisions. This year we've seen record inflation. The Fed continues to raise interest rates. There is a banking crisis. Then there's the discussion of whether or not we're in a recession. Many people have wiped their savings and emergency funds and have held them as cash because they're worried their bank or credit union might fail. 2024 is another election year. But a lot of this is noise. The market will always fluctuate because of numerous factors. As a financial planner, when short-term concerns arise, it's my job to remind people of the long-term goals they have. There will be numerous things per year that can throw us off course—if we react adversely. Listen to this episode of Retirement Made Easy to learn more about controlling your emotions when things get tumultuous.  You will want to hear this episode if you are interested in... [6:49] Why you can't let short-term concerns derail long-term goals [9:42] Should you put money into CDs or money markets? [11:23] People make purchase and investment decisions based on emotions [15:52] Learn more about the bucket strategy for investing Resources & People Mentioned 3 Steps to Retirement Planning The Retirement Bucket Strategy Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Everyone is likely familiar with 401k plans and many people have them through an employer. But do you know anything beyond the very basics? Does your company offer a match (and do you know how it works)? Do you know how much your plan costs or what your balance is? In this episode of Retirement Made Easy, I'm going to start covering some of the ins and outs of 401k plans. My hope is that you'll gain a better understanding of something so important to a successful retirement.  You will want to hear this episode if you are interested in... [0:35] Send me questions and ideas for future episodes! [4:35] The employer gets to determine 401k matching [9:44] The average 401k balance by age [12:14] Types of investment options in 401k plans [17:13] Why you shouldn't pull your money out of the market [19:18] The advantages of Roth 401ks/traditional 401ks [23:33] Consolidating or rolling over old 401k plans Resources & People Mentioned 3 Steps to Retirement Planning The Average 401k Balance by Age Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Tax planning is different when you're retired versus during your working years. It also changes from state to state. Some states are more tax-friendly than others. That's why many people retire in Florida, Tennessee, and Texas. Taxes matter in the decisions that we make. However, you can take tax planning too far. In this episode of the Retirement Made Easy podcast, I cover assessing the quality of your assets, why you can't let taxes dictate everything you do, and something to watch out for when you choose a financial planner.  You will want to hear this episode if you are interested in... [4:45] Check out RetirementMadeEasyPodcast.com! [6:13] Assessing the quality of the assets that you own [13:34] How are your taxes going to be different in retirement? [15:55] We can't let taxes take over the driver's seat [19:00] Carefully chose who creates your retirement plan Resources & People Mentioned 3 Steps to Retirement Planning Scotty Kilmer's YouTube channel The Best—and Worst—States to Retire To, Ep #53 Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Listener questions have been piling up and a Q&A is LONG overdue. So in this episode of the Retirement Made Easy podcast, I'll cover as many questions as I can. I'll cover everything from Medicare Part B to SEP IRAs, and the impact of inflation to collecting Social Security benefits. Don't miss this comprehensive episode!  > You will want to hear this episode if you are interested in... [3:54] Question #1: Does Biden's ESG veto impact your brokerage accounts? [7:17] Question #2: Why is my husband's Medicare Part B premium so high? [10:00] Question #3: Why can't I contribute to my Roth SEP IRA yet?  [11:33] Question #4: Can you help us understand the impact of inflation? [16:07] Question #5: How should I invest my Roth IRA and 401k? [20:00] Question #6: Can you help manage a trust?  [23:44] Question #7: What happens if you die before collecting social security? Why is my husband's Medicare Part B premium so high? The listener's husband turned 65 and applied for Medicare. They were shocked when his Medicare Part B premium was far higher than expected (and his Social Security benefit was reduced far more than they expected). She thought it would be $165 per month, which would cover 80% of his medical costs. Then he'd get a supplement to cover the rest. Why is his premium so high? The Part B Medicare premium is income-based. The amount you're paying for the premium is based on your income two years prior. I bet if you go back and look at his earnings from two years ago, they were likely over the limit for the $165 premium. There's a premium table that dictates the premiums you're paying today. If you believe you're being overcharged, there's a special form you can submit to appeal the premium. It's linked in the resources below!  Can you help us understand the impact of inflation? One of the biggest risks of retirement planning is the rising cost of living, i.e. inflation. Inflation heavily impacted people in 2022. Retired people especially felt it. How can we understand the real risks of inflation?  A 62-year-old non-smoking couple in the US has a joint life expectancy of 30 years. The wife is predicted to pass away at 92. If you're planning for a 30-year retirement, you have to factor in the rising costs of living. Inflation WILL impact your retirement.  But our brains find it hard to imagine things in the future. It seems less real. So instead of trying to guess what costs are 30 years in the future, look back 30 years. How were things in 1993? The cost of stamps, Big Macs, cars, and college tuition has risen significantly since 1993. Prices will continue to rise over time. So you need a retirement plan that accounts for rising living costs.  Can you help manage a trust?  A listener's husband passed away. When he died, all of their accounts went into a trust. The trust names his two daughters and son as co-trustees. They are now responsible for making financial decisions for their mom. However, the kids and their spouses seem to be struggling with the responsibility—The value of the trust was down 38% in 2022. What can she do?  Go see an attorney. With the kids being named as trustees, they get to call the shots. The trust should have designated a financial planner or institution to manage the trust after the husband's passing. The trust should also include guidelines of what the trust can be invested in, what income comes out of it for the widow, etc.  The couple should have been working as a team with a competent financial planner so that when the husband passed, the wife could turn to her financial planner. But because that isn't the case, I recommend speaking with an attorney. I'm sure the children are trying to do what's best, but they likely just aren't qualified to manage the fund. What happens if you die before collecting social security? I had a 45-minute conversation with a bright and friendly listener. He's a single guy worried about his social security. He's been paying into social security for 39 years. If he delays his benefit until he's 70 and dies, does social security pay out a measly death benefit? If he dies before collecting, where does all of that money go? Is it essentially gone?  Hypothetically speaking, yes, it's gone. There is no residual value there. This gentleman didn't believe this was fair. So what can you do if you're worried about passing away before claiming benefits?  He could always claim his benefit early and suspend it later if need be. You can always start your benefit—and within 12 months of starting it—can suspend or withdraw the application. Hoover, you will have to pay back what you received. What else can you do? Listen to the whole episode to learn more! Resources & People Mentioned 9 Ways the SECURE Act 2.0 Will Impact Retirees, Ep #132 3 Steps to Retirement Planning Biden Vetoes First Bill Medicare Part B Premium Chart Medicare Part B Appeal Form Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

The Social Security Expansion Act is being introduced to congress, sponsored by Bernie Sanders, with the “goal” of increasing the solvency of the Social Security fund. Sadly, by 2035, Social Security benefits will have to be reduced by 25% if nothing is done. Senator Elizabeth Warren states that the Social Security trust fund would remain solvent until 2096 if these changes are put into place. But a lot of the proposed changes in the bill are controversial, to say the least—including how they propose we increase payments into the fund. I'll cover four of the main goals of this bill in this episode of Retirement Made Easy and share my thoughts on each one. Don't miss it! You will want to hear this episode if you are interested in... [0:53] A big thank you to my listeners [1:49] Why retirement planning HAS to be customized [5:37] The Social Security Expansion Act [7:50] Goal #1: To increase the benefits for all recipients  [9:23] Goal #2: Change the cost-of-living adjustment calculation  [10:28] Goal #3: Making high-income earners pay more [12:41] Goal #4: Increasing the Net Investment Income Tax  [13:50] My thoughts on the proposed bill Goal #1: To increase the benefits for all recipients The bill starts with a fact sheet, which includes these sad facts: One in seven seniors relies on Social Security for more than 90% of their income Half of Americans 55 and older have nothing saved for retirement The average Social Security benefit is $1,688 per month Many seniors are struggling, which is why they're trying to overhaul social security. That's why their first proposal is to increase the benefit for all Social Security recipients by $200 per month (which would apply to everyone, even those on Social Security who aren't seniors).  Goal #2: Change the cost-of-living adjustment calculation  The bill also proposes changing how the cost-of-living adjustment is calculated. Right now they calculate based on a CPI-W index. They want to change it to a CPI-E index, with the “E” being short for the elderly. It makes a lot of sense. Seniors spend money on doctor visits, medical bills, prescriptions, etc. It's smart to track the cost of living of people in that age group and this index would be a better indication of spending habits for recipients. Goal #3: Making high-income earners pay more Currently, you pay into social security on the first $160,200 that you earn. You pay 6.2% and your employer pays 6.2%. The proposed change is trying to hit high-income earners. Let's say you make $1,000,000. Right now, this person is paying 6.2% into social security on the first $160,200. Anything they earn above that doesn't require paying into social security. This bill proposes that for every dollar they make above $250,000, they'd pay 6.2% into social security.  That's another $46,500 that this person would have to pay that they wouldn't have had to pay otherwise. But it doesn't stop there. Goal #4: Increasing the Net Investment Income Tax Anyone making $250,000 or more already has to pay a net investment income tax of 3.8% on capital gains on investments (stocks, bonds, etc.). The bill proposes increasing this tax by 12.4%, taking the net investment income tax to 16.2%. My thoughts on The Social Security Expansion Act We currently have a divided congress, so the chances of this bill passing are slim. The bill is also asking politicians—i.e. high-income earners—to vote for a bill that will tax their friends and supporters. Secondly, I think the bill overestimates the tax revenues they'll get. If you slap an additional 12.4% tax on high-income earners, they will strategically pivot.  The extra $200 a month would be a permanent increase for everyone. But many people don't need the extra $200 per month. The increase should be proposed based on need, not a blanket policy.  The amount people get now is based on how much they paid into social security over the years. Your social security check should be based on how much you paid in, not how much someone else paid. It doesn't seem fair. I know there are a lot of people hurting and inflation is negatively impacting retirees. But I'm not sure this bill is the answer. Listen to the whole episode to hear my thoughts! Resources & People Mentioned 3 Steps to Retirement Planning The Social Security Expansion Act What Social Security's Cost of Living Increase in 2022 Means for You, Ep #69  How Rising Interest Rates Will Impact Your Retirement, Ep #121 Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

When you retire, where does your income come from? How frequently will you get “paid?” Can you choose when you'll get social security income? In this episode of the Retirement Made Easy podcast, I'll cover how income works in retirement and what you're able to “customize” to you. I'll also cover some listener questions regarding social security and who you should trust. Don't miss it!  You will want to hear this episode if you are interested in... [1:50] Where does your retirement income come from? [14:16] Tom's Question: How does the spousal benefit work? [18:41] Tina's Question: Should I invest in these two mutual funds? Where does your retirement income come from? Many people get paid every two weeks working a normal job. But when you retire, how do you decide how often to pay yourself or make a withdrawal? How do you decide when to withdraw from a Roth IRA, IRA, or after-tax brokerage account? How does it work with social security and pensions? There are a lot of factors to consider. So we break it down into steps and help our clients map it out: Step #1: How much income do you need every month to live the lifestyle that you want? If you don't know, head to my website and check out my “Retirement Budgeting Tool.” Keep in mind that your expenses in retirement will likely be different than while you were working.  Step #2: What are your fixed income sources, i.e. social security/pensions?  Step #3: What gap is there between your fixed income sources and the amount you need to live comfortably every month? We will come up with a game plan where you draw the money you need from Roth IRAs, IRAs, and brokerage accounts to fill that gap.  If someone needs $2,500 on top of social security and pensions, we might draw $500 of income from their Roth IRA, $1,000 from their IRA, and $1,000 from an after-tax brokerage account. We do this strategically to keep them in the lowest tax bracket possible.  All of that being said, many of our clients like to make withdrawals the first week and third week of the month. Others are fine with only getting paid monthly and prefer to receive their distributions in the same week. It comes down to personal preference (in most cases). However, your pension and social security pay out once a month. Tom's Question: How does the spousal benefit work? Tom and his wife are both 62. Tom plans to continue to work while his wife would collect her social security benefit. When they both turned 67, Tom planned to retire and claim his benefit. He understood that his wife would get half of his social security income, or $1,400. In total, they'd receive $4,200 a month from social security.  Tom's wife certainly can claim her benefit at 62. She can also claim her spousal benefit after Tom retires. However, if she claims her benefit at 62, she won't get the full 50% spousal benefit when they're both retired.  For every month that she collects her social security income before full retirement age, it reduces the spousal benefit. However, if both waited until they were 67, he could claim the $2,800 and she could claim the $1,400 spousal benefit. Tina's Question: Should I invest in these two mutual funds? Tina asked my thoughts on a financial expert on YouTube. He claims that the best investment strategy for retirees is to own two specific mutual funds. Would I recommend that? I watched the video. This person isn't a financial planner or financial advisor. He isn't licensed to give financial advice at all.  Someone who is licensed—like me—can't put out videos giving blanket advice to people. Anyone else can—but would you trust it? Would you take financial advice from that person? You can't take this as real advice and implement it. I would never recommend that you put all of your money into two specific mutual funds at the advice of someone not certified to give it.  The bottom line? Be careful who you take advice from. Learn more in this episode of Retirement Made Easy! Resources & People Mentioned  3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts