Welcome to "The Planning for Retirement Podcast," where we help educate you on how to successfully retire. Here are some topics you will learn about: - Social Security - Retirement Income Planning - Roth Conversions - Tax Planning - Charitable Giving - Investment Strategies in Retirement - Estate Planning - Long-term Care Planning - Medicare - Required Minimum Distributions - Retirement Mortgage Strategies - And even some behind the scenes into building Imagine Financial Security I hope you enjoy the show!
PFR Nation, As you know, we are well underway with our free giveawaysfrom a couple of weeks ago. And as I mentioned last week, we received a lot of great comments in that YouTube thread! So last week, I touched on three of the questions in a Q&A format. Today, I'll address three more! Here they are:1. “So how do you actually build a retirement income plan that both people can sleep at night with when one side wants market exposure and the other wants safety?”2. “I've set aside (spreadsheet) my calculated number to self-fund my long-term care, but the variables and assumptions concern me.”3. “How do we pay for health care before Medicare?”You're not going to want to miss this one, and hope you find it useful! Thanks for tuning in. -Kevin Resources Mentioned in this Episode:Genworthand Carescout Cost of CareThe ACA Premium Tax Credits AreChanging in 2026! (PFR Video)Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,We just announced our FREE GIVEAWAY winner and runner-up on the YouTube channel last Thursday. Thank you all for participating and making that process super enjoyable and engaging. One of the questions I asked for the giveaway was “What is one thing related to planning for retirement that keeps you up at night?” We received some amazing responses!! So, I thought I would dedicate this episode and the next to addressing some of the best questions in that YouTube thread. This episode, we will wrestle with three of them:I have the majority of my retirement savings in pre-tax accounts, so I am worried about how to do the complex math to optimize Roth conversions before RMDs kick in.I worry that after a lifetime of saving, will I be able to draw down my retirement savings?My wife is 9.5 years younger than me. I want to retire in a few years at 55, not sure how long after that she'll keep working. But with that age gap it's a long retirement timeline. How best do you plan for that?You're not going to want to miss this one and hope you find it useful! Thanks for tuning in.-Kevin Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,I recentlydiscovered a Ted Talk by Dr. Riley Moynes about the “4 phases of retirement.” We talk a lotabout the financial side of retirement planning.- Safe withdrawal rates- Tax efficiency- Investing to and through retirement- Legacy - Insurance However, it's equally important to understand and thinkabout the softer side of retirement planning. In this episode, you will want to hear Dr. Moynes' take on the 4 phases,and I'll talk about a real-life hero in the College Football world that canhopefully inspire you to SKIP the dark and depressing phase! I hope you enjoy this one.-Kevin Takeaways· Retirement is not just a financialtransition; it's an emotional journey.· Understanding the four phases ofretirement can help avoid pitfalls.· The vacation phase is characterized byfreedom and excitement.· The loss phase involves identity andpurpose challenges.· Michael Phelps' experience illustratesthe emotional struggles of retirement.· Therapy and seeking help can be crucialduring transitions.· Finding new meaning in retirement isessential for fulfillment.· Engaging in service and mentoring canenhance retirement satisfaction.· Financial independence allows forexploration of new passions.· Planning for purpose in retirementshould start before retirement begins.Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,In this episode, I'm tackling America's “headline culture,” how short clips and soundbites dominate not only politics, but also the way we think about retirement planning. With the tragic assassination of Charlie Kirk as a starting point, I reflect on how social media algorithms amplify the loudest, most divisive voices, while thoughtful, nuanced conversations get drowned out. When I dug into Charlie's long-form interviews, like his sit-down with Gavin Newsom, I realized how much context gets lost and how much more common ground we really share when we go deeper.The same thing happens in retirement planning. Viral soundbites like “Social Security is going bankrupt,” “Never pay off your mortgage,” “The 4% rule always works,” or “Financial advisors can't beat the market, so don't hire one” may sound convincing in 20 seconds, but they can be misleading and even harmful if you base major decisions on them.In this episode, I break down why these headlines don't tell the full story and what you should consider instead.At the end of the day, just like politics, retirement requires long-form thinking. The clips may get clicks, but the deeper conversation is where the truth, and a confident retirement, really lives.-KevinClick this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,Welcome to another “Whiteboard Retirement Plan” breakdown!Scottie and Meredith had the perfect plan: retire at 65, sign up for Medicare, and start Social Security at 67. With nearly $1.9 million saved, everything looked like it was on track, until life threw them a curveball. After some friends their age got sick and passed away, they started asking: Why wait? Can we retire right now at 60?In this Whiteboard Retirement Plan, Kevin Lao stress tests their plan to see if early retirement is really possible without jeopardizing their future.You'll hear:How a five-year shift can dramatically impact retirement projectionsThe hidden risks of retiring before Medicare and Social Security kick inWhich levers (investment allocation, side hustle income, rental property, and more) can make early retirement realisticThe trade-offs between financial security and living life on your own timelineIf you've ever wondered whether you could retire earlier than planned without blowing up your financial security, this episode is for you.-Kevin Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,As you approach retirement, or even when you are in the beginning phase of retirement, there is this natural feeling of concern about market uncertainty. After all, the market can turn south in a heartbeat, potentially even leading into a recession. Or worse, a prolonged recession. This term is also known as “Sequence of Returns Risk.” It's not about your long-term average return, it's about the ‘sequence' those returns are generated. I've been stress testing different rates of withdrawal with different starting periods. And the ‘Lost Decade' of the 2000s is a perfect example of why sequence of returns is so important for retirees to protect against. In this episode, I'll highlight some of the major downturns since the 2000s. Then, I'll talk about some real strategies that you can implement as you protect against sequence of returns risk. I hope you find this one useful!And let me know what YOU plan to do to hedge against this risk. Also, make sure to share this episode with someone who is also approaching retirement, or who has recently retired! I'm sure they'll also find it useful. Thanks for tuning in.KevinKey Topics:• What Sequence of Returns Risk really means and why it matters more than long-term average returns.• How the “Lost Decade” of the 2000s demonstrates the dangers of poor return sequencing.• Practical strategies to protect your retirement portfolio from early losses.• Tips for stress-testing withdrawal rates and planning for different market scenarios.Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,Many of you have adult children or loved ones you hope will benefit from your financial success. But how confident are you in their financial skills? Will they be good stewards of the wealth you leave behind? Even if you don't plan to leave a fortune, your careful retirement planning might still create a sizable legacy.I just celebrated 17 years in financial services on 8/28! It's been a journey full of highs and lows, shaping my perspective on money and life itself. To mark the milestone, I'm sharing 10 key lessons I've learned as a financial advisor, entrepreneur, and content creator. My hope is that these insights can help you in your conversations with your adult children or beneficiaries! I hope you find it useful!KevinClick this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,If you have been a podcast listener for a while, you know I have strong feelings about the “4% Rule.” Well, the father of the 4% Rule, Bill Bengen, just released a new book where he admits that 4% is probably too low. In this episode, we'll briefly touch on the history of the 4% rule, as well as the findings in his new book. But more importantly, we'll discuss the downsides of actually using the 4% rule in real retirement planning and touch on some key planning opportunities for YOU (PFR Nation) to consider instead. I hope you all find this one helpful! Let me know what YOU think of the 4% Rule!-Kevin Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,Legendary actor Gene Hackman passed away earlier this year. Some of the details about his estate plan have been made public due to the probate process. While I don't believe any of us have an $80 million estate, there are some important lessons we can all take away from this estate planning nightmare. Especially if you are part of a blended family (children from a previous relationship or marriage). I hope you all find this useful. Make sure to check out the links below for some of the blended family content I've created in the past from the podcast and company blog.And finally, make sure to email me at kevin@imaginefinancialsecurity.com if you would like a copy of the e-book I am finishing up, “Planning For Retirement With A Blended Family.” Thanks for tuning in to the show and making sure to follow the podcast and subscribe to our YouTube channel for weekly retirement-related content for PFR Nation!-Kevin Resources Mentioned:Blended Families – You Need a Long-term Care Plan! (blog post)How to divide assets in a blended family (blog post)4 Retirement and Estate Planning Strategies for Blended Families in Florida (blog post)Blending and Building Wealth in a Blended Family (w/ Tim and Alexis Woodward @ Blend Wealth) (podcast episode)Wealth Protection And Transfer in a Blended Family (w/ Tim and Alexis Woodward @ Blend Wealth) (podcast episode)Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,I hope everyone has had a great summer! It's been action-packed for us, especially coming off the heels of family visiting the last 8 days. Thus, thanks for your patience with this week's episode!This is a good one! Many folks retire earlier than they had anticipated. In this case, Marilyn was forced to retire 5 years earlier than she had planned! She's done well saving and investing, and has accumulated $1.95million between taxable, tax-deferred and tax-free accounts. However, she has some ambitious goals for travel and freeing up her time! Let's see how her plan looks. And let's see what levers she can pull in order to improve her retirement outcome. I hope you all find this useful!-Kevin Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Welcome to another edition of Planning for Retirement (PFR) with Kevin Lao. And welcome to all the newbies here! If you are new, you might want to hit that “Follow” button if you are over 50 and have saved a minimum of 7 figures for retirement. You're approaching the phase of life where you want to be able to fire your boss at any time, maximize your retirement impact, minimize your lifetime tax bill, and worry less about money! This is your podcast!And don't forget to “Subscribe” to our YouTube Channel, where we put out weekly retirement-related content designed for YOU (PFR Nation).Today, we'll revisit another Q&A session with some GREAT questions we've curated over the last few months. Reminder, if you have a question for a future Q&A episode, or simply want to send me an email, you can at: kevin@imaginefinancialsecurity.comWe have questions related to Roth IRAs, Inherited Roth IRAs, stock allocations for retirees, IRA to Health Savings Account rollover, and more! I hope you enjoy this one!Kevin Resources Mentioned:Don't miss your Roth Conversion Window (video)Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,In this 88th episode of the Planning forRetirement podcast, I'll touch on the importance of finding true fulfillmentbeyond financial success and that chasing a retirement goal is merely a toolfor freedom. Freedom to pursue what YOUare built to pursue on this earth. First, I'll start off by sharing someinsights on tax planning following the One Big Beautiful Bill Act (OBBBA),including changes to tax brackets, the senior deduction and the SALT deduction.I will then highlight a key market trend for 2025, but at the same time stressthe importance of not chasing the next hot thing. And then finally, I will highlight variousside hustles and activities that retirees engage in to stay active, fulfilled,and connected to their communities (compliments of a Reddit thread I stumbledupon). I hope you all enjoy thisepisode!-Kevin Takeaways:• Money is a tool, not the goal.• Financial independence should lead to a meaningful life.• Tax benefits from OBBBA are significant for retirees.• The SALT deduction cap has increased the likelihood of itemizing deductions.• International stocks are outperforming US stocks in 2025, by a lot!• Diversification is crucial in investment strategies, but don't chase returns.• Timing the market can lead to significant financial mistakes.• Retirement should focus on finding purpose, not just financial stability.• Many retirees engage in side hustles for fulfillment and extra income.• Boredom can lead retirees to seek part-time work or hobbies.• Staying active is crucial for mental and physical health in retirement.• Pursuing passions can lead to new business opportunities in retirement.• Volunteering and helping family can provide a sense of purpose.• It's important to plan for both financial and personal fulfillment in retirement.• Retirement can be a time to explore new interests and hobbies.• Community engagement can enhance the retirement experience.Resources Mentioned:• Ep 61 – Benefits of Working in Retirement (w/ Roberto Fortuna)• What is Your Side Hustle In Retirement? (Reddit thread) • Tax Trap of 401ks• Death tax trap of 401ks • Here is the investment return performance I was referencing in the podcast from BlackRock through May 30th 2025 Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
The internet is full of financial advice. Some is good, some is great, and some downright dangerous. After nearly 17 years as a financial advisor, I've heard it all. In this episode, I'm calling out the bad advice for retirees and pre-retirees that still gets passed around today in hopes that you will plan better for retirement!I hope you enjoy it.-KevinTakeaways:The internet is full of financial advice, but not all is good.Many retirees struggle with the concept of productivity in retirement.Not all financial advice is created equal; some is driven by agendas.Paying off a mortgage can provide peace of mind, even if it seems financially disadvantageous.Social security strategies should be flexible and personalized.Roth accounts can be beneficial, especially during the Roth Conversion Window.Financial planning should consider both quantitative and qualitative factors.Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,It's official, the One Big Beautiful Bill Act (OBBBA) was signed into law on July 4th, 2025, making significant impacts on tax rates, deductions, and various credits. This by no means is a summary of ALL the changes from OBBBA, but I attempted to summarize what I believed was most relevant to our listeners and clients (folks nearing or in retirement, saved over $1million, excluding primary residence, mostly in tax-deferred vehicles). In addition to the key tax changes, I'll also break down 3 client examples and how OBBBA impacted their taxes in 2025. Finally, I will discuss 7 planning opportunities to consider. I hope you find it helpful.If you are interested in learning more about working with our firm, you can visit our website or fill out the Retirement Readiness Questionnaire below. -Kevin Takeaways:The OBBBA has made current tax rates permanent, preventing increases in 2026.Standard deductions have been slightly increased and made permanent.Bonus deductions for taxpayers over 65.Social security income remains taxable, despite misconceptions about tax-free status.Child tax credits have been permanently increased to $2,200 per child.Business owners benefited with QBI deduction and 100% bonus depreciation.The SALT deduction cap has been raised to $40,000, benefiting high-tax state residents.Service workers can now deduct tips up to $25,000, making their income more tax-efficient.The estate and gift tax exemptions have been permanently increased to $15 million for individuals and $30 million for couples.The AMT exemption has been extended, but phase-out rules have reverted to previous levels.Planning opportunities exist for those over 65 to maximize deductions and manage tax liabilities.Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterThis is for general education purposes only and should not be considered as tax, legal or investment advice.
I hope you all enjoyed the 4th of July weekend! Happy Birthday, America!Fees are a big topic of conversation amongst financial advisors, but also from consumers. It can be a spicy topic with lots of complexities, but I'll try to simplify HOW and WHAT you are paying your financial advisor.I'll be the first to admit, I am extremely biased being a fee-only financial advisor, which I'll admit throughout the show. I will say that there is no right or wrong fee model! However, I do believe there is a right fee model based on the client's circumstances. This is why we designed our fee structure the way we do, because we serve retirees with $1mm - $5mm of investible assets. In this episode, I'll talk about “free financial planning,” the different fee models, what those fees are from a $ perspective, and 5 recommendations if you are considering hiring a financial advisor. Takeaways:If you're hiring a financial advisor, make sure they serve retirees/pre-retirees like YOU.Many advisors focus solely on investment management, neglecting comprehensive planning.DIY investors often have blind spots that a good advisor can help identify.Be cautious of 'free' financial planning services; they often come with hidden costs.The fiduciary standard is crucial; only fee-only advisors are true fiduciaries.Different financial advisor models have varying incentives and conflicts of interest.Advice-only models can be beneficial for DIY investors seeking validation.Calculate fees based on dollar amounts, not just percentages.Consider the long-term value of the services provided by your advisor.Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterOther Links Mentioned:Where do I find a retirement-focused financial advisor? (article)This is for general education purposes only and should not be considered as tax, legal or investment advice.
Hello, PFR Nation and Happy 4th of July, and Happy Birthday, America! What a great country we live in, I'm so proud to be an American. My Dad being a (legal) immigrant has given me great appreciation for the opportunities we have relative to the rest of the world. I'm feeling extremely blessed for the clients we are serving in our financial planning firm, and I'm so grateful to serve all of you with this podcast. I hope you continue to find value. We have a fair amount of new listeners, plus the legacy listeners, and I just want to say how excited I am to deliver this weekly content to all of you. Thank you for the support, and welcome to the 84th episode of the PFR Podcast and 7th edition of the ‘Whiteboard Retirement Plan.' Leo and Lisa are looking to retire in 2 years, at 61 and 58 respectively. They have done quite well accumulating approximately $3 million for retirement with the majority being inside of traditional tax deferred IRA's and a 401k. Leo is on Long Term Disability and was forced to ‘retire earlier' than planned, and is receiving tax free income until 65. Lisa plans to fully retire at 58. However, this will result in losing employer-sponsored healthcare and ultimately needing to shop around in the open market. One option will be to consider the Affordable Care Act policies on Healthcare.gov. Furthermore, Roth Conversions are of interest during their “Roth Conversion Window” from Lisa's age 58 until she turns 75. In this episode, we will help them decide whether or not to aggressively pursue a ‘low income' to reduce healthcare costs in early retirement…or, to begin converting some of the tax-deferred accounts right away to reduce the ‘Tax Trap of 401ks.' Drop a comment and let me know what you plan to do if you retire before 65! Will you aggressively pursue ACA Premium Tax Credits? Aggressively convert to Roth? Or potentially a hybrid between the two? I hope you enjoy the 7th edition of the “Whiteboard Retirement Plan.”ACA Premium Tax Credits Video***Additional Disclaimer*** So much about these rules are up in the air. From 2021-2025, there has been a “gradual slope” downwards of ACA premium tax credits even AFTER you exceed 400% of the Federal Poverty Level. However, that is set to revert back to the “Cliff” at 400% after 2025. With that said, there is a LOT on the table with the “One Big Beautiful Bill” which will likely include further changes to these rules. I guess what I'm saying is…continue to follow the “OBBB” and of course follow the PFR Pod!-KevinTakeaways:Many of the families we serve are overachievers looking to retire early.Healthcare costs are a significant concern for early retirees prior to reaching Medicare eligibility.Budgeting for lifestyle and healthcare is crucial in retirement planning.Roth conversions can optimize tax liabilities over time.Monte Carlo simulations can help stress test the plan, but is by no means the be all end all retirement metric.Understanding the Affordable Care Act and their premium tax credits are important, but should NOT be the sole basis for tax planning opportunities. Tax traps in traditional retirement accounts can impact long-term wealth during a retiree's lifetime, and for the next generation. Income stability is key for a successful retirement.Adjusting retirement plans can provide more flexibility and security.Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Many of the individuals and families we serve end up “Oversaving” for retirement. If you are in that same situation (you overachieved
In this week's podcast, I break down 5 great questions we have either fielded directly in our practice, or have observed in the marketplace from retirees/near retirees. Shoutout to Roberto for this concept, and if it goes well, we'll be doing these every 4-5 episodes! In this edition, the 5 questions we'll tackle are:
Is it time to take your adult children off your payroll?Nearly HALF of parents with adult children are providing them with MEANINGFUL financial support. But 40% plan to CUT OFF those funds in the next 2 years.If you or someone you know is struggling with this, you are NOT alone!In this 81st edition of the PFR podcast, we'll discuss Savings.com's recent survey about this, and ultimately how this could impact your retirement plans and how you are remembered. Make sure to participate in the poll questions referenced in this episode!-KevinResources Mentioned:Savings.com StudyPsychologyToday ArticleAre you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteConnect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you feeling a bit behind on your goals for retirement? You're not alone!More than half (57 percent) of Americans working full-time, part-time or who are temporarily unemployed feel behind on their retirement savings, according to Bankrate's latest Retirement Savings Survey.In the 80th edition of the Planning for Retirement podcast, I'll discuss 6 tactical moves to improve your retirement outcomes. I hope you enjoy it!Also, thanks for your patience this week as my family of 5 + 2 dogs made our move into a new home! We are swimming in boxes while managing 3 boys being home from summer. Pray for us!
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteI hear a lot of financial advice out there to take Social Security as early as possible. But what if I told you that for many high-net-worth retirees, claiming early could cost you several hundreds of thousands of dollars of lost income and even furthermore negatively impact your investment portfolios over time.Episode 68, 9 Reasons to Claim Social Security Early. Make sure to check that one out as well. In this episode, we'll look at the other side of the coin on why you might want to DELAY Social Security. I hope it helps!-Kevin ***Important edit***I mentioned a reduction in your "Primary Insurance Amount" when you claim benefits before Full Retirement Age. However, I meant to say there is a 30% reduction @ 62 for those who were born in 1960 or later...NOT a 35% reduction! The 35% reduction applies to a "Spousal Benefit" when claiming @ 62. Thank you, Roberto, for catching this! I will attach a link to the IRS website which has a helpful chart showing the impacts on claiming early below. https://www.ssa.gov/benefits/retirement/planner/agereduction.htmlConnect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteThere is a lot of focus in the financial advice industry related to the “Accumulation Phase.” In the beginning, you're trying to save as much as possible as you start your careers. Then you gain some traction and start building up a nice nest egg. As your income increases, maybe you start to think about the tax impact of your savings. And finally, you really start to focus in on how much you “need” or “want” before you stop the accumulation phase. The problem is that it continues to be a moving target based on your lifestyle changes, inflation, the markets, or ultimately, the unknown about how long you might live!But when is enough “enough?” It's easy to have the blinders on and just focus on building up as large of a nest egg as possible. As a result, many pre-retirees and retirees fail to think through the distribution phase…or in other words, the decumulation phase.And many of the folks we serve are surprised to find out they have a SURPLUS in retirement. Meaning, it's going to be hard for them to spend all their nest egg during their lifetime (not a bad problem to have).In today's Whiteboard Retirement Plan breakdown, we'll look at Bruce and Jennifer Lee, who are 62/61 and looking to retire in January of 2026…We'll show you WHY they have a surplus and ultimately discuss some strategies to help them optimize for today, as well as maximize their legacy to their 2 adult children.I hope you enjoy it.-Kevin Connect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteEver hear of the “Sell in May and Go Away” catch phrase as it relates to the stock market? In this episode, we'll look at the actual data of market returns from May to October vs. November to April and see if there is any merit.We'll also touch on the stock market since the “Liberation Day” sell-off, as the market has gained a ton of ground in April and early May. I hope you enjoy this episode, and make sure to share the podcast with someone who is PFR Nation caliber!-Kevin Connect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteRoth IRAs, 401ks, Health Savings Accounts and Traditional IRAs generally get the most hype when it comes to saving and investing for retirement. However, the TAXABLE BROKERAGE ACCOUNT, in my humble opinion, is the unsung hero in the retirement planning puzzle. This is due to the ultimate flexibility and surprising tax efficiency during the accumulation, distribution, AND legacy phases. Check out this episode where I talk about the benefits in each phase, as well as some of the mistakes I see retirees make when using these accounts to plan for and execute a successful retirement.I hope you enjoy it!-Kevin Connect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteThe first quarter of every year is a great opportunity for us to meet with our clients and discuss things like:Required Minimum Distributions (RMDs)Cash Flow NeedsRebalancing opportunities and overall market outlookTax opportunities before the deadlineTax opportunities to tee up for the year(s) aheadAnd overall retirement planning landscape for each of our clientsBut this past quarter, we have had some significant volatility relative to what we've seen since 2022 when inflation topped out at 9.1%!!There were some great takeaways I wanted to share in hopes that it will HELP YOU in your journey to plan for and execute a successful retirement…I hope you enjoy this episode, and make sure to share it with a friend who is “PFR Nation” caliber! Thank you!-KevinConnect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteThe conventional wisdom is to spend down your taxable accounts first, then your tax-deferred accounts, and finally your tax-free accounts. However, this may not always be the case. In this episode, I'll break down the case of “Rory and Erica” on the whiteboard, which goes against this conventional wisdom. We'll cover max spending strategies, optimal investment strategies, tax-efficient withdrawals, charitable giving, and long-term care planning.I hope you enjoy this edition of the Whiteboard Retirement Plan! Make sure to share this with someone who would find it useful.-Kevin Connect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteThe VIX (Wall Street's fear index) topped out at 57 as I write this on 4/9/25. Which for perspective, 15 is a normal level. In 2020, the VIX topped out at 66, and in 2008 it topped out at 88! So, this means there is a lot of fear in the markets.We just wrapped up our Q1 reviews, and our clients are also in that camp feeling uncertainty. However, the market rallied today (4/9/25) with the S&P 500 gaining 8.5%! This is just a friendly reminder that you never want to bail on your strategy during periods of volatility.We'll break down the VIX, we'll also talk about the winners and losers in the market from the first quarter.I'll share some questions that are on my mind related to economic uncertainty. And finally, I'll talk about 4 tactical strategies for you to implement during this time of market volatility. I hope you find it helpful!KevinConnect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteShoutout to my wife, Jess, for this podcast idea! I started my list with 5, then went to 10…but I had to put 20 down for this list! But, there are several more that SHOULD have made this list!We talk about purpose in retirement, and what better purpose than to have some amazing golf courses that you want to play in retirement!? My hope is to provide some inspiration as you all plan for retirement and begin to hit some of your bucket list golf courses!Enjoy this one and let me know what you think of my list. And let me know what courses I should be targeting as I continue to explore the amazing world of courses out there! Thank you!-KevinConnect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteThe Federal Reserve elected to hold steady on rate cuts for now. The market did react positively to this news, but ultimately volatility has ensued since then in response to tariff concerns and their impact on inflation. So naturally, we are fielding more and more questions about the markets and the impact on their retirement portfolio. As a result, I wanted to dig into past economic cycles where interest rates had peaked (like they did in 2024) and ultimately rate cuts began (like in September of 2024). I looked at the results for the S&P 500 returns vs. the Bond Index returns for each cycle from when rate cuts began to when they bottomed out, and there were 5 of them since 1980 (Hyperinflation).I think you'll be interested in the results! Of course, this is in no way solicitation to buy or sell ANY securities, as this is for general education only. Hope it helps.-Kevin Connect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteOur retirement planning firm, Imagine Financial Security, turned 4 in February and I have been wanting to do a podcast celebration for this one! To celebrate, I thought I would do an episode about some of my initial experiences of going independent as a financial advisor.I'll touch on 4 things I miss about working for a larger financial institution.Then, I will touch on 4 of the things I LOVE about being an independent financial advisor.I hope you guys enjoy it.Happy 4th Anniversary to IFS!And congratulations to Roberto Fortuna on his official promotion!Connect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteNo, I'm not saying a Bear Market is certain. Nobody has a crystal ball. However, the markets are volatile right now, and it's a great reminder that the market doesn't operate on a straight line upwards. It has bumps along the road. And that is a GOOD thing! If there was no risk, there would be no opportunity for gains!However, it's important to begin preparing before you enter a bear market, or worse, a recession. In this episode, I'll discuss 14 Retirement Planning moves to help you prepare for the NEXT bear market. Because it's not a function of “if,” but “when.” As always, everyone's situation is unique, so please consult with your own advisors before making any changes! This is for educational purposes only.I hope you find it helpful.-KevinConnect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteThe default assumption for many online social security calculators, financial planning tools and expert advice tells you to DELAY Social Security as long as possible! After all, that does yield the highest monthly benefit, assuming you wait until age 70.Well, that may not be the best strategy for you! In this episode, I am going to break down 9 reasons why you may want to claim Social Security early! As always, everyone's situation is unique, so please consult with your own advisors before making any changes! This is for educational purposes only.I hope you find it helpful.-KevinConnect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteToday, we will be looking at a client example of a 62/61 year old couple with $1mm inside of a Traditional IRA, about $50k in cash savings, and a $450k home that is paid off. In this episode, we're going to dive into the timing of their Social Security income, IRA distribution strategy, Roth Conversions, as well as their investment strategy. We'll also discuss some of the key risks they'll face throughout retirement. I hope you enjoy this 4th edition of the “Whiteboard Retirement Plan.”-KevinConnect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteOne of the top concerns for the clients we serve is related to taxes in retirement. They've worked hard to get to this point where they could even think about retiring, but then realize that the more they pay in taxes, the less money in their pocket to enjoy life and ultimately leave to their kids or beneficiaries. After all, the federal government has shown that they have been a pretty poor money manager, leading us to a $36T deficit and counting.Naturally, deciding on whether or not to convert funds from a tax deferred IRA or 401k to a ROTH IRA is a big deal. In this episode, we'll talk about 7 reasons you may want to delay, reduce, or even avoid Roth conversions altogether. As always, everyone's situation is unique, so please consult with your own tax professionals before making any changes! This is for educational purposes only.I hope you find it helpful.Resources Mentioned: Senior Citizens Tax Elimination Act Episode 10: 6 Reasons to Take Advantage of Roth ConversionsConnect with me here: YouTube Join My Company Newsletter Facebook LinkedIn InstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my websiteMost people start to think about taxes right about now around the tax filing deadline.They gather a bunch of documents, send them to their tax preparer, and mistakenly believe their tax preparer is going to come up with this MAGIC way to save a bunch of money on taxes.Then they get ticked off because there is not much you can do in April to lower your tax bill. Finally, they get frustrated by the complexity of the tax code and call it a day…until next year, rinse and repeat.So what they are failing to comprehend is that “TAX PREPARATION” is NOT “TAX PLANNING!” Tax Planning is ongoing, it doesn't start and stop at the tax filing deadline. And it's about reducing your LIFETIME tax bill, not simply looking for a maximum tax refund year to year. In this episode, we are going to talk about this concept of “Tax Planning” and what can you, PFR Nation, do to reframe your way of thinking about your taxes in your retirement journey. Then, we're going to talk through some action items you still can take advantage of before tax time, as well as a few common misconceptions about our tax code.And finally, we are going to talk about TAX PLANNING strategies for YOU, PFR Nation!But first, I had to go on a brief rant about what is rattling the markets right now. I'll give you a hint: it has to do with DOGE.Connect with me here: YouTube Join My Company Newsletter Facebook LinkedIn InstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr, visit my website“Legacy is not about leaving something for people, it's about leaving something behind IN people.”— Peter StropleMany retirees create estate plans with their attorneys. They get a big binder with their documents, hopefully they update their beneficiaries, retitle their assets to their trust, and then they throw that big binder in a safe and “tell their kids where it is.”But they ignore the fact that some day those documents will be read by their beneficiaries, or, perhaps an ‘ex-beneficiary.' Warren Buffet has a different take on estate planning that we will dive into today. So, we're going to dive into Warren Buffett's annual ‘Thanksgiving Letter.'Then, I'll also discuss 3 potential reasons this might be hard for you.And as a result, I'll give you 5 tips to make it easier to at least get the ball rolling.I hope you all find this episode helpful. Make sure to follow along and share this with a friend/family member who would also find it useful. -KevinResources Mentioned:Warren Buffet advised on reviewing your will with adult childrenConnect with me here:YouTubeJoin My Company NewsletterFacebookLinkedInInstagramThis is for general education purposes only and should not be considered as tax, legal or investment advice.
WELCOME to the OFFICIAL episode 63! I was jumping ahead of myself last week when I thought I was recording 63, but in fact that was episode 62. Las week we talked about cash flow and budgeting, and how that sets the framework for one of the core assumptions for your retirement planning. Today, we are going to dive into how your cash flow needs impacts your rate of withdrawal, and ultimately how you should be giving yourself “raises” in retirement. We'll walk through the revolutionary study by Bill Bengen and his 4% rule. We'll also walk through some of the downsides of the 4% rule, and ultimately how this dovetailed into Guyton and Klinger's “Guardrail” study. We'll walk through the 4 different “Decision Rules” from the Guardrail study which creates the framework of what a safe rate of withdrawal is for your retirement and ultimately when you should give yourself a raise from your investment portfolio. I'll also touch on a couple of news stories that are relevant related to: DeepSeek and the selloff of Nvidia last week. Deferred Resignation Program (Federal Government's buyout program) and how this impacts Federal employees. I hope you enjoy this episode! If you are interested in working with us on your retirement income plan, start by filling out our Retirement Readiness Questionnaire linked below. And make sure to check out our YouTube channel so you can follow along with our Whiteboard Fireside Chats and fun retirement meme videos
Hello PFR Nation, Welcome to the official kickstart of our show going weekly! Yes, we switched the day of the week to Tuesday. I will also be continuing the weekly “Fireside Chats” on YouTube, and those will be released weekly on Thursdays. For this episode, I wanted to chat with you all about a core financial planning topic that I haven't discussed enough. BUDGETING. For some of you, that may feel like a 4-letter-word. For others, it's music to your ears. I'll highlight why tracking cash flow and having a budget will be the foundation to designing your retirement projections. I'll also explain 4 popular budgeting frameworks to get you started. And finally, I'll discuss a few things to be aware of and think through as you create your budget for retirement. I hope you find this one helpful! And as always, please be sure to follow our show and give us that 5-star review if you find value in our content. Thank you! -Kevin Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness Questionnaire Or, visit my website Connect with me here: YouTube Join My Company Newsletter Facebook LinkedIn Instagram This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation, I am very excited to have one of our very own, Roberto Fortuna, on to the show this week! We are going to discuss the benefits of ‘Working' in retirement. But, when we say ‘Working' we just mean having purpose in retirement. Whether that is part time work, volunteering, starting a consulting business, or just being Grammy and Grandpa! Whatever it is that is going to give you purpose in retirement, you should do more of! For those of you who don't know, Roberto joined my financial planning firm last May. Yes, I do this for a living and I'm not a ‘professional podcaster! Roberto is a big part of our financial planning process, but he's also a retired firefighter! Yes, he's the youngest looking retiree in America, I know. Anyhow, I thought he could bring a unique perspective to this topic, plus I always enjoy my chats with Roberto and thought you would enjoy his cool, calm and collected perspective on retirement, his journey to find purpose, taxes, and of course a fun story about how we joined forces. I hope you all find value in this one. If you do, make sure to give our show a follow and leave that 5-star review. It helps “pump the algorithm” in our favor so we can reach and impact more people. Also, make sure to check out our YouTube channel as we post the video form of our podcast in addition to weekly videos on retirement related topics. We'll link it in the notes below. We'll be seeing you every week on the PFR Podcast very soon!
Happy 2025 everyone! First let me say, this is NOT a market prediction episode! They are always wrong. However, I do believe that many of you who are recently retired or approaching retirement will be interested in this episode. I put together a list of 5 things the market is looking for in 2025 that will impact both the stock and bond market. Additionally, I have 5 key takeaways for you to help you improve the success of your retirement plans. Make sure to follow our show if you are over 50 and have accumulated at least $1million for retirement or are pretty darn close (you are considered “PFR Nation”). I am confident you will find value in what we are doing here. And lastly, make sure to share our show with a friend or family member who is also “PFR Nation” caliber. I hope you enjoy it! Kevin Resources mentioned: Where do I Find a Retirement-Focused Financial Advisor? (article) Connect with me here: YouTube Join My Company Newsletter Facebook LinkedIn Instagram Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness Survey Or, visit my website *This is for general education purposes only and should not be considered as tax, legal or investment advice.*
PFR Nation, It's hard to believe we are wrapping up 2024! I hope everyone is having a wonderful holiday season with their loved ones! This is Volume 3 of the “Whiteboard Retirement Plan” edition of the podcast. The numbers don't lie, Volume's 1 and 2 were among the top downloaded episodes for 2024. I will continue to do the Whiteboard Retirement Plan breakdowns every 4 or 5 episodes or so. I don't want to overplay it, so I'll track the data to ensure you are still finding value in that content. If you want to be FEATURED in a Whiteboard Retirement Plan breakdown, you can fill out the Retirement Readiness Survey which is linked at the end of the show notes. There is a question that asks, “How do you want to engage with us?” One of the responses is the Whiteboard Retirement Plan on YouTube, so check that box. That is also the questionnaire you would fill out if you are interested in hiring our firm in 2025. Based on our current capacity, I see about 8 new client slots will be available for us to bring on in 2025. So, I would highly recommend acting soon if you've been thinking about engaging with us. With all of that out of the way, I hope you find value in this episode! I think there is a lot to learn from “Sonny and Cher's” breakdown related to: Part time work Delaying Social Security Spousal Social Security Spending phases (Go Go Years, Slow Go Years, No Go Years) Rates of withdrawal Investment returns related to a “Balanced Portfolio” Process of withdrawals during a down market Downsizing in retirement And more! If you are 50+ and have accumulated over $1mm for retirement, you will probably want to follow/subscribe to the show as I am sure you will find some value in the content we put out. And with that, I am signing off for 2024! Wishing you a Healthy, Happy, and Prosperous 2025! -Kevin Connect with me here: YouTube Join My Company Newsletter Facebook LinkedIn Instagram Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness Survey Or, visit my website
PFR Nation…you're somewhere in the ballpark of 50-60+ and you've gotten to the point where you feel you are on the verge of achieving financial independence. Congratulations!! All of that hard work and sacrifice pays off in the end. I wanted to make an episode about when I thought it made sense to hire a financial advisor, and more specifically a financial advisor who specializes in retirement planning. However, I realized how BIASED I am personally on this topic
Happy Thanksgiving, PFR Nation! What a ride 2024 has been. You all were a HUGE part in making this year so exciting. Listen, it's a lonely business that I chose…being a rogue financial planner in the independent space. However, I wouldn't trade it for the world. Given it is the season of gratitude, of course I want to give a shoutout to my team! Zack, The Podcast Man. Amy, our Client Services Associate. Mason, my shorts/social media editor. And of course, Roberto, the backbone of our financial planning process. I could not do what I do without all of you, and I just want to thank you for the impact you are making on the families we serve. So, It is the end of another year, it's hard to believe. For our practice, this is when we do a our end of year tax planning. We are not only looking at opportunities for 2024, but opportunities in 2025 and beyond. Given we are firmly planted in our tax planning season, I thought I'd share some tips and tricks for you to consider in your own retirement planning journey. I hope this helps. My only ask is that you share this with a friend or family member who is “PFR Nation” caliber as I can guarantee they will also find value in our content. Much appreciated! -Kevin Resources: Whiteboard Fireside Chat playlist Connect with me here: YouTube Join My Company Newsletter Facebook LinkedIn Instagram Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness Survey Or, visit my website
I'm excited for this episode, as we have a real-life retiree, Michael Levine, who successfully owned and sold a home healthcare business. Michael spent the beginning of his career in accounting until he and his wife started their company over a decade ago. His knowledge in the home health care space in addition to maximizing the benefits of long-term care insurance is going to be extremely valuable to all of you who are planning for your own retirement as well as caring for aging parents. Some of the topics we'll touch on are: Why homecare? Homecare vs. Medicare Hiring a home care company vs. privately How does Long-term care insurance fit into Home health care? Cost of care, how to decide how much LTCi to buy? Maximizing your LTC policy What if you don't have LTC…and what if our clients are stepping in to care for aging parents I hope you enjoy this one and make sure to share it with a friend or family member who would benefit from this content. -Kevin Resources: Deducting your Long-term Care Insurance premiums Download your free PDF on What questions to ask about your long-term care insurance policy Connect with me here: YouTube Join My Company Newsletter Facebook LinkedIn Instagram Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness Survey Or, visit my website
Full disclosure, many of these proposals will never come to fruition. However, it is election time, so why not have some fun with this? I spent a lot of time digging into each candidate's tax proposals, as well as the potential impact to you, PFR Nation. Let me be clear, this is not an endorsement for either candidate, nor is it a recommendation to make changes based on these hypothetical proposals. However, tax changes will inevitably impact all of us, so it's important to understand what each candidate is proposing. Furthermore, I would note that I am not going to vote solely based on tax proposals, but it's a pretty big deal to me personally and professionally. The topics I'll hit on are in regards to: Business Taxes/Corporate Taxes Capital Gains and Dividends Credits, Deductions, Exemptions Estate and Wealth Taxes Excise Taxes Individual Income taxes Social Security and Medicare Tariffs and Trade I recognize there are MANY more tax proposals in the mix, but I wanted to focus on the ones that will impact PFR Nation the most. So, without further ado, I hope you enjoy this episode. Kevin Resources Mentioned: Tracking 2024 Presidential Tax Plans Tariff Tracker: Tracking the Economic Impact of the Trump-Biden Tariffs Why the Economic Effects of Taxes (Including Tariffs) Matter The Unpleasant Arithmetic of Kamala Harris's Housing Plan Congressional Budget Office Shows 2017 Tax Law Reduced Tax Rates Across the Board in 2018 Who Bears the Burden of the Corporate Income Tax? No Tax on Tips: An Answer in Search of a Question Neighbor to Neighbor Disaster Relief Fund Connect with me here: YouTube Join My Company Newsletter Facebook LinkedIn Instagram Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness Survey Or, visit my website
Annuities have become the four-letter word of retirement planning products. However, is this warranted? When should annuities be positioned in a well-diversified retirement income plan? How do you ensure you aren't being taken advantage of by an agent who doesn't have your best interests? In this next edition of The PFR Podcast, I host annuity experts Sheryl Moore and Tacy Lownesberry to discuss this notorious retirement product and attempt to reduce the stigma associated with annuities. Why do this? Well, I personally do not sell annuities…nor do I receive any compensation from annuity agents or their providers. However, I see the value when they are in fact a good fit, but oftentimes preconceived biases against the product prevent right-fit clients from purchasing them. I hope you all enjoy this episode. And thank you Sheryl and Tracy for joining to share your insights. -Kevin Resources Mentioned: Life and Annuity Illustrations Confuse Clients, Advisor Tells Regulators Annuities are key to retirement. So why are so few of us buying them? Sheryl on LinkedIn Tracy on LinkedIn Connect with me here: YouTube Join My Company Newsletter Facebook LinkedIn Instagram Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness Survey Or, visit my website
Thanks so much to our recent listener who submitted their financial info for this next edition of the ‘Whiteboard Retirement Plan.' This was a fun case to break down. "Travis" is 58, "Taylor" is 54, and they are currently putting 3 children through college. They've managed to save a nice nest egg of approximately $5.5mm and it's tax diversified quite nicely. In this episode, I'll break down my thoughts on: College planning and 529s Bridge to Social Security ‘COASTing' to retirement Order of withdrawal Roth conversions and the RMD Tax Trap Spending/withdrawal rates Risk tolerance vs Risk Capacity Long-term Care Planning Financial Legacy And more! Remember, we are just having fun with this! This is not advice, nor a solicitation for any specific action. I've never met with this couple, nor do I have the full details of their financial picture. However, I hope you all can take 1-2 things and learn something related to your OWN journey as you plan for retirement. ‘Travis and Taylor' – thank you for participating and I hope that you find this video especially useful! If you are interested in participating in a future edition of the “Whiteboard Retirement Plan,” make sure to submit your “Retirement Readiness Survey” in the links below. Please make sure to indicate somewhere in the survey that it's for a Whiteboard Retirement Plan episode, as that's the same link new clients fill out when they apply to work with us. Also, make sure to follow the podcast on YouTube so you don't miss out on my weekly “Whiteboard Fireside Chats” where I do a mini deep dive into a specific topic. There is a playlist in the channel that you can check out. I hope you all enjoy it! And make sure to share my show with a friend or family member who is in the 50-60+ range and preparing for retirement. Thanks for tuning in! -Kevin Connect with me here: YouTube Join My Company Newsletter Facebook LinkedIn Instagram Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness Survey Or, visit my website
Are you approaching retirement while juggling paying for your kids' college, or even perhaps caring for aging parents? You are not alone. In fact, 48% of adults are providing some sort of financial support to their grown children, while 27% are their primary support. Additionally, 25% are financially supporting their parents as well. The conversation focuses on the sandwich generation, which refers to individuals who are planning for their own retirement while also supporting their children and aging parents. In this conversation, Kevin Lao and Jeff McDermott discuss various financial planning topics, including college planning, retirement savings, and caring for aging parents. They emphasize the importance of balancing saving for college and retirement, taking advantage of catch-up contributions after age 50, and having open conversations about estate planning and long-term care. They also highlight the benefits of using 529 plans, taxable brokerage accounts, Health Savings Accounts, and more. I hope you enjoy this episode! -Kevin Links referenced: Forbes Article: The ‘Sandwich Generation' Is Financially Taking Care Of Their Parents, Kids And Themselves Jeff McDermott on IG CreateWealthFP.com Whiteboard Fireside Chat: You are 50+ and want to catch up for retirement Whiteboard Fireside Chat: The different types of permanent life insurance SECURE Act 2.0 529 Rollover Rules Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness Survey Or, visit my website
Are you approaching retirement and worried about the impact of Artificial Intelligence (AI) on the future of your job? What about the impact of AI on the financial markets? And lastly, do Bitcoin and other cryptocurrencies have a place in a well-diversified investment portfolio? I hope you enjoy my interview with Brian Bonewitz. Brian is an AI consultant, CFA holder, and has a unique perspective on AI, digital assets, and the impact they have on investing for retirement. Personally, I believe the mainstreaming of Bitcoin in 2024 is likely to cap some of the upside potential, but also it reduces the downsize given some of the world's largest asset managers are now substantial stakeholders in crypto assets. To each their own, but I believe a decision should be made one way or the other, and likely sooner rather than later. -Kevin Lao Connect with me here: YouTube Join My Company Newsletter Facebook LinkedIn Instagram Links Referenced in Episode: The godfather of AI sound alarm about potential dangers of AI Digital Assets (IRS website) 6 Things to know about Wash-Sale Rules Michael Saylor on Bitcoin Coinbase Brian Bonewitz on Linkedin Rafa.ai Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness Survey Or, visit my website
Do you ever wish you could get inside the minds of existing retirees to ask them what their experience has been? Or, ask them what they wish they would have known before they quit their day job? This episode is for you! In this episode of the Planning for Retirement podcast, I'll share 50 truths that retirees wish they knew before they quit their day jobs. Some of these are straight from the horse's mouth, some are my observations in serving retirees for more than a decade, and some are research-based that I uncovered during this process. I'll cover a range of topics including finding purpose in retirement, the misconception of retirement expenses going down, the importance of exercise and brain stimulation, the high costs of healthcare in retirement, tax traps, and much more. Thanks for tuning in! Make sure to subscribe to give me a follow on social media and company newsletter below. We're also getting the YouTube side of things going and I'll be posting one offs in bet Connect with me here: YouTube Join My Company Newsletter Facebook LinkedIn Instagram Links Referenced in Episode: 50 Truths Retirees Wish They Knew Before They Quit Their Day Job Purpose and Successful Retirement Transition Questionnaire Shocks and the Unexpected: An Important Factor in Retirement The life expectancy of older couples and surviving spouses How to plan for rising healthcare costs Are you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness Survey Or, visit my website
Welcome to "The Planning for Retirement Podcast," where we help educate you on how to achieve financial security and fire your boss. Here are some topics you will learn about: - Social Security - Retirement Income Planning - Roth Conversions - Tax Planning - Charitable Giving - Investment Strategies in Retirement - Estate Planning - Long-term Care Planning - Medicare - Required Minimum Distributions - Retirement Mortgage Strategies - And even some behind the scenes into building Imagine Financial Security I hope you enjoy the show! -Kevin Lao Social Media: Facebook LinkedIn Instagram Are you interested in working with me 1 on 1? Fill out our Retirement Readiness Survey
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