Retirement Made Simple

✅ *FREE RETIREMENT ASSESSMENT* ✅ In today's video, we are going to discuss the "5 BIG Purchases Retirees (Almost) Always Regret!"

In this episode, we explore five sources of tax-free retirement income. Understanding these sources can be crucial for minimizing your tax burden during retirement.  In this episode, we'll break down each source, explain its benefits, and guide you on how to potentially incorporate it into your retirement planning.  Whether you're nearing retirement or just starting to plan, this information is essential for a secure financial future. 

Deciding when to claim Social Security benefits is a decision that affects millions of retirees. In this episode, we delve deep into a popular question: should you claim Social Security early and invest the money? We'll break down the benefits, potential risks, and key factors to consider. From the impact on your overall retirement savings to market risks, we cover it all! ✅ What we cover:Introduction to how the Social Security benefits work.

Are you looking for a smart and tax-efficient strategy to boost your retirement income? In today's video, we delve into the powerful concept of utilizing a taxable brokerage account to maximize your tax-free retirement income. ✅ Understanding the concept: We begin by exploring the ins and outs of taxable brokerage accounts and how they can play a crucial role in your retirement plans. By keeping taxable investments in a brokerage account, you gain immense flexibility in generating tax-free retirement income that can significantly impact your financial future. ✅ Utilizing tax-efficient investments: Discover various tax-efficient investment options that align perfectly with your retirement goals. We explain the importance of capital gains taxes, dividends, and other factors in selecting the right investments for your taxable brokerage account. ✅ Long-term estate planning strategies: We delve into long-term tax planning strategies, providing valuable insights on how to navigate tricky tax estate tax laws to your advantage.

In this episode, we explore the complexities of earning an income and receiving social security benefits. Key points covered in this episode: -Case Study: A real-life scenario where a prospect's social security payments were abruptly stopped, leading to confusion and concern. -Understanding Social Security: An in-depth look at the intricacies of claiming social security benefits while working a part-time or full-time job. -Earnings Thresholds: Discussion on the various income thresholds and the penalties that apply when you exceed them. -Q&A Segment: Answers to commonly asked questions about retirement planning, including the impact of a working spouse on your social security benefits, and whether or not you need to report your income to the Social Security Administration. *Free Retirement Assessment* // https://foundryfinancial.org/get-started *Private Facebook Group* // http://facebook.com/groups/retirementforum

Today we are diving deep into one of the most pressing issues concerning retirees: managing taxes and controlling income in retirement. Especially, when those RMDs can cause a significant portion of your social security benefit to be taxed. Another looming issue is the longevity risk, the fear of outlasting benefits which often leads to retirees spending way less during their golden years. However, recent changes in the tax code through the use of a QLAC now provide us with effective tools to tackle both these issues. So, in this episode, we will: -Introduce these recent tax changes -Explain how they work -Illustrate them with a real-life example -Walk you through the pros and cons

Are you nearing retirement and wondering how to maximize your Social Security income? Maximizing Social Security benefits is key to retirement planning. In this video, we'll show you five key steps to ensure you get the most out of your Social Security benefit and we'll tell you exactly how your social security benefit is calculated. From understanding the impact of your claiming age to the role of work history, we'll break down everything you need to know. So, whether you're nearing retirement or planning ahead, these tips will help you make informed decisions. *Get Started Today* // https://www.foundryfinancial.org/get-started *Private Retirement Facebook Group* // http://facebook.com/groups/retirementforum

In this episode of "Retirement Made Simple," we delve into the fascinating world of guaranteed income and its profound impact on retirement spending. We explore why many retirees, despite having sufficient funds, often underspend in their golden years. We discuss the findings of the Health and Retirement Study (HRS) and how it reveals that households with more wealth in guaranteed income spend significantly more each year than those with more wealth in investments. We also touch on the concept of annuitization and its potential to increase retirement spending. Furthermore, we examine the role of annuities in retirement spending and how shifting non-annuitized wealth into an annuity can lead to increased spending. We also discuss the way annuities are often obsessed to enrich sales people.

In this episode, we dive into a topic that's often misunderstood by investors: Dividends. While many people are attracted by the promise of regular income from dividend-paying stocks, it's not all smooth sailing. Our host explores the five potential pitfalls of dividends: Yield Chasing, Dividends Aren't Guaranteed, Lack of Diversification, Lack of Tax Efficiency, and Significant Risks Carried by Dividends. Through a candid conversation with a client facing these exact problems, we uncover the complexities behind each issue, offering you the insights you need to make well-informed investment decisions. You can find Portfolio Visualizer here. Join us as we continue to demystify the world of retirement planning and investment. Your journey to a simpler retirement starts here.

In today's episode of "Retirement Made Simple", we delve into the world of financial regrets and how you can avoid them as you navigate your journey towards retirement. Our discussion is guided by a recent insightful survey conducted by economists Abigail Hurwitz and Olivia Mitchell, which polled Americans over the age of 50, revealing the top five financial regrets that they have. We take a deep dive into each of these regrets, which range from not saving enough, neglecting to buy long-term-care insurance, wishing they had worked longer, claiming Social Security benefits too early, and not investing enough in lifetime annuities. Each regret uncovers a valuable lesson for our viewers and provides a pathway to avoid similar pitfalls in your own retirement planning. This episode also underscores the fascinating effect of understanding our own longevity on financial regrets. By confronting the reality of how long we are likely to live, we can better plan our retirement and minimize regrets in our golden years.

In today's episode, we're talking about how to prepare for a smooth transition into retirement. Whether you're five years away from retirement or just starting to think about it, these steps are crucial for ensuring you are financially, emotionally, and physically ready for this significant life change. Disclaimer: This episode is for informational purposes only and does not constitute financial advice. Please consult with a professional for advice tailored to your individual circumstances.

In this episode of "Retirement Made Simple," we take a deep dive into the world of old 401(k) accounts, specifically focusing on five possible options for what you can do with them. This includes leaving your money in your old 401(k), rolling it over into a new employer's plan, rolling it over into an Individual Retirement Account (IRA), or cashing it out. Throughout the episode, we weigh the pros and cons of each option, providing viewers with a comprehensive understanding of their choices. Please remember that our show is for informational purposes only and it's crucial to consult with a financial professional before making any major financial decisions.

In this episode, host Kevin Lum focuses on the downsides of investing in a 401k. He starts by providing an overview of the history of 401k and the importance of understanding the potential costs associated with this popular retirement savings option. The first downside discussed is the high fees you can find in a 401k plan. The second downside of investing in a 401k: limited investment options. He explains how having limited options in a 401k plan can impact potential returns and diversification The third downside discussed is the high potential tax burden in retirement. Kevin explains the tax implications of withdrawing from a 401k in retirement and compares it to other investment options with lower tax implications. https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator https://www.investor.gov/financial-tools-calculators/calculators/required-minimum-distribution-calculator

In this episode of Retirement Made Simple, host Kevin Lum, CFP® discusses the critical decision of when to claim Social Security benefits: at age 62 or 70. Should you take Social security right away or delay. Tune in as we dive deep into the factors that can impact your financial future, including understanding Social Security benefits, the pros and cons of claiming at different ages, and how to make the right decision for your retirement. Don't forget to subscribe! Resources: My Social Security: https://www.ssa.gov/myaccount/ Social Security Administration: https://www.ssa.gov/ Social Security Benefits Calculator: https://www.ssa.gov/benefits/calculators/

In today's episode I want to explain one of the most overlooked strategies for both reducing your taxable income and investing for the future. In fact, I'm going to show you how you can get a tax deduction today and allow the money to grow tax deferred for years and then take out the money tax free. You can find a list of expenses that qualify for a health savings account expenditure here: https://livelyme.com/whats-eligible/ Also, Lively is my favorite HSA provider because of their investment options and ease of use. I have no financial relationship with Lively I'm just a fan. https://livelyme.com Website // https://foundryfinancial.org Facebook // facebook.com/retirementpodcast

It seems nearly impossible to find a safe place to park your cash with decent returns. In this episode I'm going to walk through three places you can park extra cash that pay up to 1000% more money than your local bank.

The IRS recently disallowed a charitable donation, because the donor was missing just a few simple words. And it turns out a lot of donors are making the exact same mistake. In this video I'll walk through the mistake a widow made that cost her a $464,000 tax deduction because her tax paperwork lacked a few key words and tell you how to avoid the same mistake. We'll walk through the key things you need to know whether you're contributing $500 or $500,000.00.

On this episode, we talk with Fari Gonzaque of Transformations by Fari about staying healthy and active in retirement. Fari has been a fitness coach for over 30 years.

In this episode we explore the question of whether we're headed for a recession along with practical tips for handling a market downturn and economic slowdown.

In this episode, I recap an email I wrote to our clients about current market volatility and also give my thoughts on the future of the market.