Retirement Toolbox

Tax season is here, but filing your 2024 return is just one piece of the puzzle. Now is also the perfect time to take advantage of new tax rules for 2025—before the year gets away from you. With higher standard deductions, increased retirement contribution limits, and updated HSA rules, there are plenty of opportunities to lower your tax bill and boost your savings. In this episode, we'll break down the key changes and how you can start planning now to make the most of them.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

April Fool's Day is all about jokes and pranks, but when it comes to retirement planning, getting fooled can cost you real money. Today, we're uncovering the beliefs that fool retirees and pre-retirees into making bad financial moves.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Presidents aren't just leaders of a nation. They're decision-makers who navigate uncertainty, make tough calls, and plan for the future. Today, we're looking at how the leadership lessons of some of America's greatest presidents can help you build a smarter, more secure retirement plan.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

The day President Trump took office, he announced plans to implement a 25 percent tariff on goods from Mexico and Canada. Additional tariff conversations have exploded since that day. How might this impact your personal finances and the economy? Today, we'll explain a bit of the backstory of tariffs and discuss these new tariffs.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Brrr, it's cold out there! Winter has a lot of people thinking about warmer weather. For some, that just means an annual vacation down south. But for certain retirees, they choose to live elsewhere through the brunt of winter, becoming “snowbirds.” Is snowbird life for you? Let's talk about what motivates people to take up temporary residence elsewhere, where they go, and if it's worthwhile.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Financial mistakes can happen at any age, but they can have a particularly significant impact in your 60s. This episode offers five common financial blunders to avoid during this pivotal decade.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Have you already given up on some of your resolutions for the new year? Well, replace them with a few of the actionable ideas we cover on this episode to help you save smarter, invest better and plan for the future you deserve.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Did you know most Americans retire earlier than planned, often due to unexpected health issues, job changes, or financial surprises? These challenges can force people out of work early, leaving them unprepared for decades of retirement. In this episode, we'll explore recent research highlighting the importance of planning for early retirement, even if it's not in your current plans.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Everyone loves a good game show. Whether it's spinning the big wheel or hitting the buzzer with all the right answers. But what happens when people turn their retirement planning into a game? Spoiler alert: it's not always a win! In this episode, we tackle the risky moves people make when they treat their finances like a game of chance.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Imagine you could read your financial advisor's mind before you even walked through the door for the first time. What would they want you to know? In this episode, we bring you the game-changing insights financial pros wish every saver and investor understood.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Social Security is the backbone of retirement for millions of Americans, but big changes may be coming. On this episode, we dive into the recently released proposal to raise the full retirement age to 69 and what it means for your benefits, your future, and your financial security. Read the full report: https://www.cbo.gov/system/files/2024-09/60516-Full-Retirement-Age.pdf   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

The financial landscape is changing rapidly, and if you're focused on retirement, these shifts can't be ignored. In today's episode, we break down the trends that will define the rest of 2024 and what they mean for your retirement plan.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Ever wonder how your financial advisor really gets paid—and what that means for you? Whether it's a fee, a commission, or a salary, the way your advisor earns money could be influencing the advice they give you. In today's episode, we're talking about the different pay structures of financial advisors, revealing the benefits, the potential biases, and what you need to know to make sure your money is truly working for you. If you're working with an advisor or thinking about hiring one, this is an episode you can't afford to miss.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

With National Financial Planning Month upon us, we're sitting down with a seasoned financial planner, Scott Searles, to uncover the strategies and steps that go into building a personalized financial plan. From that first phone call to implementing a strategy that aligns with your goals, this discussion will offer valuable insights for anyone looking to understand what it looks like to go through the planning process with a real financial advisor.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Remember when you were a kid, always asking 'How do you know?' about everything, like why the sky is blue or where the sun goes at night? That curiosity doesn't go away as we get older; it just turns into different questions, like the ones we face when planning for retirement. Today, we're digging into the 'How Do You Knows' of retirement planning.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Today, we're diving into the history of the Social Security Act, signed in 1935, which has become a crucial part of American retirement planning. We'll explore how this program started, how it's helped millions of retirees, and what challenges it faces as it turns 89. What can we expect for the future of Social Security? Let's find out.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Are you telling yourself financial lies? Discover the top lies people often tell themselves about money and retirement. Some of these could be severely holding you back, so stay tuned!   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

We get a lot of questions about 401(k)s, and we know they can be tricky to navigate. That's why we're tackling your top questions in one comprehensive episode.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Ever heard the saying, ‘Always plan ahead. It wasn't raining when Noah built the ark'? Well, today we're diving into that very concept. How did Noah's forward-thinking approach help him survive the flood, and what can it teach us about preparing for retirement? Tune in as we unpack the ancient wisdom of Noah's Ark and its modern-day implications for ensuring your retirement is secure, no matter what storms might be on the horizon.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

We hear a lot of half-truths in the financial world, not necessarily because people try to make misleading statements, but because sometimes a simple statement just doesn't quite tell the whole story. On this episode, we'll discuss a few examples.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Retirement planning doesn't have to be overwhelmingly complicated. It certainly doesn't have to be as complicated as some people make it. In our next episode, we unravel the unnecessary complexities often woven into the fabric of retirement advice. We'll debunk some myths, simplify strategies, and uncover the beauty of simplicity and straightforward retirement planning.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Very often, we see people who know that the financial decisions that they're making aren't the best decisions, but they try to create excuses or explanations for why they're doing what they're doing. Let's talk about why these excuses usually don't hold water.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Just like an annual checkup is important for maintaining good health, performing regular financial checkups is an essential part of planning for a healthy and successful retirement. By regularly assessing your budget, goals, and progress, you can make informed decisions to keep your finances on track. Although financial wellness is going to look different for everyone, we'll share some areas you should be paying attention to in today's episode.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Psychologists have determined that retirement is one of the most stressful events that some people will experience in life. In this episode, we'll look at the ways to proactively deal with the stress surrounding the retirement process.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

As much as any other threat, recognizing and avoiding scams has become a necessary skill for today's retirees to develop. Join us as we explore crucial steps you can take to safeguard your financial well-being against the growing tide of scams and identity theft. Learn from real-life stories and gain practical advice to keep your finances secure in this digital era, all from the perspective of a seasoned financial professional.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Unpack the toolbox of technology that's promising to redefine retirement planning, but does it deliver? This episode takes a critical look at the wave of innovations, from personal finance management software to online calculators, and questions whether they truly simplify the planning process or introduce new complexities.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

With International Women's Day in March, it's the perfect time to reflect on the progress women have achieved in the financial realm over the past century. Despite this, the path to retirement is not without its unique challenges for women, and it's important to recognize the financial hurdles that they continue to face. In this episode, we'll share some eye-opening statistics and actionable advice to empower women in their financial journey. From the persistent gender pay gap to the impact of caregiving responsibilities and higher debt burdens, this is why retirement planning is different for women.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

March Madness is upon us, and as you fill out your bracket and watch the NCAA Tournament this year, there are a few retirement planning lessons that you can learn along the way…   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

We've all heard the apocalyptic predictions about social security, the national debt and other major issues that are supposed to sink the economy. Do any of these predictions have merit in the years ahead? On this episode, we'll try to separate sensationalism from reality.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Is 'Lazy Money' still a concern in 2024's higher interest rate landscape? In this episode, we explore this question, examining how the recent rise in interest rates affects the money sitting in savings accounts, CDs, and conservative investments. We'll discuss the new dynamics of managing your funds in a world where traditional saving methods are seeing better returns. Are these options now a viable part of a savvy investment strategy, or are there still better ways to make your money work harder for you?   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Have you ever wondered what questions to ask your financial advisor, or why those questions are crucial? In today's episode, we're tackling exactly that. We're discussing the vital questions that bring transparency and depth to your financial advisory relationship. It's about getting clarity on how advisors work, what they specialize in, and how they align with your financial goals. These are the questions you MUST ask your financial advisor.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

In today's episode, we're focusing on a critical aspect of retirement planning: healthcare costs. How well prepared are you to handle medical expenses after you retire? We'll discuss everything from Medicare complexities to strategies for managing unexpected health-related expenses. Tune in as we break down the essentials of healthcare financial planning for retirees.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

It's important to eventually get a comprehensive financial plan for yourself, but sometimes even just a few minor adjustments in your portfolio can make a big difference. Let's discuss a few easy places to start.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Ready for an adventure? Think of retirement planning as climbing a mountain. It's not just about the climb up; it's about preparing wisely, tackling the ups and downs, and even planning your way back down. We're talking about setting milestones, dealing with market surprises, and making sure your hard-earned savings last through your entire retirement journey. Join us as we gear up with some smart strategies and insights, making sure you reach the top and enjoy the view.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

As the year comes to a close, we thought it would be a good idea to revisit a previous two-part episode on financial resolutions. This series was recorded a couple of years ago, but the show still has some great tips that can help you start your year off right.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

“Learn from the mistakes of others. You can't live long enough to make them all yourself.” – Eleanor Roosevelt… Ever wish you could foresee financial missteps before they happen? In today's episode, explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Losing a spouse is an unimaginably tough life event, but the financial implications can add another layer of stress to the grieving process. In this episode, we delve deep into the most common financial issues faced by widows and widowers, from dealing with income gaps to navigating tax changes as a single filer. We explore actionable strategies to address these problems, such as the importance of life insurance and the ins and outs of spousal pension continuation. This is the episode for you if you're concerned with ensuring the financial well-being of your remaining family members and safeguarding your financial future and legacy in the face of loss.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

We have a special edition of the podcast today! If you've been listening to the show for a while, you know that Scott and Walter talk about food quite often, so we thought it would be a fun idea to compile a few getting to know you questions from past episodes that were food related. We will get back to the financial talk next episode, so sit back and enjoy something a little different this time around.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/  

In this episode, we tackle the common complaints and fears about financial situations during retirement. We'll discuss which concerns are well-founded, which are based on misconceptions, and offer insight on how retirees can best navigate their financial future.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/  

There are some people who don't care at all about leaving a financial legacy, but for those who do, it's important to eliminate some of the common estate planning mistakes. In this episode, we cover topics ranging from poor expense planning to outdated beneficiary designations and family conflict triggers. We also shed light on some misconceptions about transferring real estate and explain the impact of tax implications on your estate. If you want to leave a legacy without regret or legal turmoil, this episode is a great starting point.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/  

Finding a trustworthy and competent financial advisor is essential for securing your financial future. After all, they play a vital role in helping you make informed decisions about your money, investments, and long-term financial goals. But how can you separate the wheat from the chaff? How can you identify problematic personalities that might indicate an advisor isn't the right fit for you? We'll find out in today's episode as we explore how to identify “The Ghost," “The Jargon Juggler," “The Chameleon," and several more. And what should you do if you encounter them?   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Get ready for part two of our Retirement Cash Flow series! This time, we're diving into the income side of the equation. In part one, we tackled the ins and outs of your expenses in retirement. Now, it's all about understanding the crucial role of income analysis. We'll uncover the secrets of guaranteed income versus the uncertain stuff and shed light on the consequences of retiring without a clear income plan. Don't worry if you're feeling lost - we've got your back with practical solutions and expert guidance. Tune in and take charge of your retirement cash flow!   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Don't get us wrong. In many cases, your 401(k) can be your best investment vehicle, offering numerous benefits and tax advantages and many times a 100% return on some of your contributions (also known as an employer match). However, it's important to recognize that it might not always be the optimal choice for everyone. Join us in this thought-provoking episode as we dissect the reasons why someone should NOT invest in a 401(k).   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

In this episode, we'll explore many of the expenses in your life that might drastically change (one way or another) in retirement. We'll break those expenses down further to see which ones are the top priorities and analyze some of the other factors that impact your cash flow in retirement.  Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

From time to time, we like to look at issues faced by people in other professions outside of the financial world and see what kind of retirement planning lessons we can learn from these other professions. Today, we're seeing what we can learn from teachers and the issues they face.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Silicon Valley, Credit Suisse, and First Republic are just a few banks that have experienced either incredible turmoil or complete collapse in the past few months. How should the average American respond with their money? Do you pull it all out in cash and store it under your bed? Should you throw all your money into depressed bank stocks in hopes of riding a wave back up in case a recovery occurs? In today's episode, we'll shed light on those questions and more by analyzing what some experts across the world are saying about the crisis.   Show Notes & Info: Schedule A Call With Scott: talkwithscott.net Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Have you ever wondered why you handle money the way you do? It turns out your financial behaviors can be traced back to your formative memories. In this episode, we explore how historic market crashes have left a lasting impact on our relationship with money. We'll also contrast them with the way more recent crises have shaped our financial views and decisions in the short term.   Show Notes & Info: Schedule A Call With Scott: http://talktoscott.com/ Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you're eligible is the best decision for your financial future? In this episode, we'll be debunking common myths about Social Security and answering the questions you've been curious about.   Show Notes & Info: Schedule A Call With Scott: http://talktoscott.com/ Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Are you a golfer? Even if you're not, the game of golf can teach us valuable lessons about retirement planning. For example, hitting a hole-in-one might be thrilling, but it won't necessarily guarantee your overall success. And just like you need different clubs in your golf bag to play a round, you need a well-balanced approach to your investments in retirement. But perhaps the most important lesson from golf is the value of having a caddy. In retirement planning, a financial advisor can help you navigate the hazards and make the most of your financial "clubs." Tune in to this episode to learn more about how the game of golf can help you plan for a successful retirement.    Show Notes & Info: Schedule A Call With Scott: http://talktoscott.com/ Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Are you preparing for retirement but feeling confident that you have covered all the expenses? Well, think again… It turns out that many retirees overlook some crucial expenses that can leave them financially vulnerable. In this episode, we explore the retirement expenses that most people tend to forget, including skyrocketing medical bills, unexpected travel costs, taxes, and much more. We'll discuss practical tips and strategies to help you plan for these expenses and ensure a secure and comfortable retirement.   Show Notes & Info: Schedule A Call With Scott: http://talktoscott.com/ Tax-Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/

Retirement can come with a lot of tax questions and concerns. From understanding the tax implications of withdrawing from your retirement accounts to minimizing taxes on investment income, it can be overwhelming. On today's episode, we'll break down the top ten tax questions retirees are asking in 2023. Before you file your 2022 taxes and plan ahead for the rest of the year, make sure to listen to this episode as we'll discuss some important tax questions that retirees should ask themselves to ensure they're making the most of their retirement savings and minimizing their tax burden. Show Notes & Info: Schedule A Call With Scott: http://talktoscott.com/ Tax Free Toolkit: https://5p7b1gdm.pages.infusionsoft.net/