The Savvy Investor Podcast

What if your retirement plan is quietly setting you up for a multi-million-dollar tax bill? In this episode, Mike Canet and Ryan Herbert unpack real-life stories of retirees blindsided by taxes—and how smart planning could have saved them millions. From overlooked Roth conversions to the fine print your advisor won’t discuss, they reveal how to legally minimize your tax burden and keep more of what you’ve earned. Want to begin building your retirement and tax plan? Schedule a call with us here:

Retirement planning often revolves around one critical fear: running out of money. A recent study highlights that retirees with guaranteed income, such as pensions, spend 42% more than those relying solely on savings, showcasing the confidence that steady income can provide. Ryan Herbert and Katherine Groce explain that understanding monthly expenses and crafting a plan that secures income through diverse options—market investments, dividend portfolios, or annuities—retirees can prepare for financial stability regardless of market fluctuations. Want to begin building your retirement plan? Schedule a call with us here:

Retirement doesn’t have to mean taking unnecessary risks with your savings. Mike Canet & Katherine Groce explain how thoughtful planning and tailored strategies can help retirees create sustainable income streams while minimizing exposure to market volatility. They highlight examples of retirees, like one who thrives with just a 5% return by living within his means and structuring his investments wisely. Mike & Katherine also explore alternatives to traditional stock market investments, such as CDs, fixed index annuities, and structured notes, emphasizing solutions for those seeking stability and added peace of mind in retirement. Want to begin building your retirement plan? Schedule a call with us here:

Mike Canet and Ryan Herbert reflect on Warren Buffet’s recent retirement and one of his many famous quotes: “Never run out of money.” They discuss creating income streams that retirees cannot outlive and emphasize the importance of protecting savings from market volatility while ensuring consistent growth through methods like dividend-paying stocks, preferred shares, or annuities. Want to begin building your retirement plan? Schedule a call with us here:

Your IRA in retirement. You can leave it, roll it, or cash it out. How do we know what works best for us and what do we have to watch out for? Want to begin building your retirement plan? Schedule a call with us here:

A study from AARP revealed that Americans that are 50 years old or older pay 59% of all federal income tax. Contrary to popular belief, many retirees face higher tax obligations due to required minimum distributions (RMDs), Social Security taxes, and insufficient planning during their working years. Mike Canet and Samantha Nash explain that with strategic tax planning, retirees can reduce the burden by leveraging lower tax rates early and exploring options like Roth conversions. Understanding these dynamics is crucial to avoid losing significant portions of savings to taxation and to ensure long-term financial security amidst changing income needs in retirement. Want to begin building your retirement plan? Schedule a call with us here:

Lawrence Kiely and Samantha Nash explain the complexities of tax planning, particularly focusing on the differences between tax strategies during working years and retirement. They highlight the importance of proactive tax planning, the implications of Roth conversions, and the impact of required minimum distributions (RMDs) on retirement savings. The discussion also touches on the government's approach to taxation and the significance of strategic planning for future generations. Want to begin building your retirement plan? Schedule a call with us here:

In this episode of the Savvy Investor Podcast, Katherine Groce and Samantha Nash discuss the complexities of tax strategies, retirement income, and investment planning. They emphasize the importance of understanding market volatility and how it can present opportunities for long-term investors. The conversation also delves into the psychological aspects of retirement, the significance of annuities for income generation, and the need for a comprehensive financial plan that adapts to changing circumstances and future tax implications. Want to begin building your retirement plan? Schedule a call with us here:

In this episode, financial planners Lawrence Kiley and Samantha Nash discuss the impact of market volatility on retirement planning. They emphasize the importance of having a well-structured investment strategy that includes income buckets to ensure financial stability during turbulent times. The conversation also highlights the differences in concerns between existing clients and prospective clients, as well as the proactive approach taken by Pro Status Financial in managing portfolios to mitigate risks. Want to begin building your retirement plan? Schedule a call with us here:

This conversation with Mike Canet and Ryan Herbert delves into the intricacies of retirement planning, focusing on the importance of understanding income streams, tax strategies, and the role of fiduciary advisors. Ryan and Mike emphasize the need for effective tax planning to maximize retirement income and avoid common pitfalls that can lead to unnecessary tax burdens. They discuss the benefits of Roth IRAs and the significance of making informed decisions regarding investments and distributions to ensure financial security in retirement. Want to begin building your retirement plan? Schedule a call with us here:

In this episode of the Savvy Investor Radio Show, hosts Katherine Groce and Samantha Nash discuss the intricacies of financial planning during tax season, the implications of market volatility, and strategies for transitioning from growth to income in retirement. They emphasize the importance of having a structured plan that accommodates both growth and income needs, particularly for those approaching retirement. The conversation also highlights the significance of understanding one's investment goals and the role of income annuities in providing financial security during retirement. Want to begin building your retirement plan? Schedule a call with us here:

Tax Planning and tax preparation are very different! Ryan Herbert and Lawrence Kiely explain the complexities of tax planning and preparation for retirement, highlighting common misconceptions about taxes, the importance of understanding tax implications on retirement accounts, and strategies for minimizing tax burdens. They also share why you need a proactive tax planning to avoid costly mistakes and ensure financial security in retirement. Want to begin building your retirement plan? Schedule a call with us here:

Are you thinking about when to retire and how it will impact your financial future? Katherine Groce & Samantha Nash explore the complexities of retirement planning, highlighting the importance of personalized financial strategies. They discuss the emotional and financial decisions involved, the benefits of retiring early versus later, and how to balance work and life goals for a fulfilling retirement. Katherine & Samantha also touch on the generational differences in retirement planning and the need for a customized approach to achieve one's retirement dreams. Want to begin building your retirement plan? Schedule a call with us here:

What is the #1 way retirees pull income? A recent study by Charles Schwab reveals seven key income sources for retirees, with the top leading the list at 40%. Ryan Herbert and Lawrence Kiely highlight several strategies and list the primary factors retirees need to focus on when building out an income plan. Want to begin building your retirement plan? Schedule a call with us here:

Are you underestimating the impact of taxes on your retirement? Katherine Groce & Samantha Nash discuss how taxes can be a significant expense in retirement, often overlooked by many and dispelling the myth that taxes are lower in retirement. They emphasize the importance of proper tax planning to avoid unexpected financial burdens. Want to begin building your retirement plan? Schedule a call with us here:

Most people think they have a balanced retirement portfolio, but often they are taking on more risk than they realize. Ryan Herbert explains The Magnificent 7 and why it’s crucial to diversify your investments to avoid being overly dependent on a few high-performing stocks. He also highlights risk tolerance and examines tech-heavy mutual funds' underlying assets. Want to begin building your retirement plan? Schedule a call with us here:

Are you aware of these key ages in retirement planning? Katherine Groce & Samantha Nash cover significant retirement ages that retirees should understand when it comes to: 1) Penalty-free withdrawals from your 401k or TSP 2) “Supersized" catch-up contributions 3) Social Security benefits 4) Medicare enrollment 5) Current and new rules for Required Minimum Distributions (RMDs) Want to begin building your retirement plan? Schedule a call with us here:

Are annuities the secret to a secure retirement? Shaquille O'Neal recently shared how annuities have become a vital part of his financial strategy. Ryan Herbert explains that annuities, although often misunderstood, can be an effective tool for generating consistent retirement income when used properly. He also explores various retirement income options, including stocks, preferred stocks, and annuities, explaining their pros and cons. Want to begin building your retirement plan? Schedule a call with us here:

Retiring from the federal government can be a complex process, with numerous elements to consider, such as pensions, healthcare, and “leave” payouts. Katherine Groce and Samantha Nash discuss Trump’s recent administrative changes which have added another layer of complexity, potentially impacting the optimal retirement timing. Katherine and Samantha dive into why federal employees must weigh their options carefully, considering incentive packages and procedural intricacies like TSP rollovers and Roth conversions. Long-time employees may discover they are effectively "working for free," underscoring the importance of accurate financial planning for a secure retirement. Want to begin building your retirement plan? Schedule a call with us here:

Retiring from the federal government is filled with complexities, but understanding the best timing and navigating the benefits can make a significant difference. Mike Canet discusses why federal employees face unique challenges, such as figuring out the optimal retirement date, maximizing years of service, and making healthcare and benefit decisions. Changes in government policies and the creation of DOGE add another layer of uncertainty and opportunity. Mike sheds light on the intricacies of federal retirement, emphasizing the importance of meticulous planning to ensure a smooth transition. Want to begin building your retirement plan? Schedule a call with us here:

Retirement is approaching faster than you think and knowing if you’re actually prepared comes down to a few key factors. Ryan Herbert addresses the importance of having a detailed retirement plan that includes income streams, tax efficiency, and financial security. He highlights why it’s essential to work with a professional who can guide you through the complexities of retirement planning, ensuring that your savings last throughout your retirement years. Want to begin building your retirement plan? Schedule a call with us here:

Steph Curry believes his retirement is near and shares the mindset he has as his playing career is in its final years. Ryan Herbert addresses Curry’s mindset and how it relates to people nearing their retirement. He emphasizes the need for an income plan and outlines the steps that need to be taken to ensure you don’t outlive your life savings. Ryan also highlights tax efficiency and discusses the transition from the accumulation phase to the distribution phase in retirement. Want to begin building your retirement plan? Schedule a call with us here:

In this episode, Samantha Nash draws parallels between preparing for a snowstorm and preparing for retirement, emphasizing the importance of planning to ensure your lifestyle, healthcare, and legacy are secure. She explains that without proper tax planning and doing nothing, you could lose 20 to 30% of your retirement savings in retirement. Samantha debunks the myth that taxes will automatically be lower in retirement, highlighting that many people may end up in the same or higher tax brackets due to required minimum distributions (RMDs), pensions, and social security. She highlights the value of strategies such as Roth conversions, tax loss harvesting, and income tax minimization to protect your assets from taxes. Want to begin building your retirement plan? Schedule a call with us here:

Trump is set to begin his second term and many questions have been raised regarding the potential impacts of the new Department of Government Efficiency. In this episode, Ryan Herbert explores the anxieties federal employees face amid looming government layoffs and the importance of understanding their benefits. With insights into the complexities of federal pensions, retirement planning, and the potential cuts proposed by Elon Musk and Vivek Ramaswamy, we navigate the turbulent waters of governmental changes. He discusses real-life scenarios of federal employees making crucial decisions about their retirement and highlights the steps they need to take to safeguard their future. Want to begin building your retirement plan? Schedule a call with us here:

Transitioning into retirement can often bring a set of new financial challenges and opportunities. In this episode, Ryan Herbert highlights the significant role of understanding cost of living, housing, and taxes in retirement planning. As inflation and healthcare costs rise, it becomes imperative to have a robust plan that addresses these expenses. Ryan also explains the misconceptions about spending less in retirement and falling into a lower tax bracket, which can lead to financial pitfalls. He addresses the importance of having a comprehensive tax plan that evolves with your retirement needs and ensuring that you can enjoy your retirement years without financial strain. Want to begin building your retirement plan? Schedule a call with us here:

Recent studies show that if you retire before 65, there’s a 45% chance of running out of money, largely due to the decline of employer pensions. Mike Canet addresses different income streams and what their potential benefits and pitfalls are, such as annuities, dividends, and preferred stocks. He also highlights things that are just as important to prepare for, including tax planning, fees, and long-term care. Want to begin building your retirement plan? Schedule a call with us here:

Ryan Herbert explains the concept of the Santa Claus rally, a phenomenon where stock markets typically see a rise during the end-of-year holiday season. However, he cautions against getting too excited about these short-term gains, especially for those managing significant investments. Ryan discusses the importance of having a solid, long-term financial plan that accounts for market volatility and potential downturns, rather than chasing small percentage gains that might not justify the risk. Using examples from recent market behaviors and economic uncertainties, he emphasizes the need for prudent decision-making and the dangers of impulsive investments. Want to begin building your retirement plan? Schedule a call with us here:

Imagine growing your wealth tax-free and leaving a legacy for your loved ones. In this episode, Mike Canet delves into the benefits of using life insurance policies as a tax-efficient investment tool, contrasting it with traditional 401(k) plans. By investing in life insurance, you can potentially achieve a higher rate of return without the burden of taxes, both when contributing and withdrawing. Mike emphasizes the importance of balancing today's needs with future planning, ensuring financial advantages for both you and your heirs. Additionally, this episode touches on the current political landscape and its impact on federal spending, urging listeners to make informed decisions about their finances. Join the conversation to learn how to navigate the Secure Act 2.0 and optimize your financial strategy. Want to begin building your retirement plan? Schedule a call with us here:

Ever wondered if the 4% rule is truly a reliable strategy for your retirement? In this episode, Mike & Ryan delve into the intricacies of this popular financial guideline and explore its real-world implications. Discover why sticking strictly to the 4% rule could lead to unexpected financial pitfalls, especially when factoring in additional expenses like nursing home care. Mike & Ryan also discuss the importance of a holistic approach to financial planning, where risk management, tax implications, and long-term care are all carefully balanced. Want to begin building your retirement plan? Schedule a call with us here:

Are you ready to dive into the golden era of soft rock? In this episode, Mike and Ryan explore the enduring legacy of Yacht Rock, featuring timeless artists like Michael McDonald and the Doobie Brothers. Journey through anecdotes from backstage interviews and memorable concerts, as these musical legends continue to perform with passion and energy well into their 70s. Discover how the spirit of rock and roll keeps these artists young at heart while they navigate their unique paths in retirement. Want to begin building your retirement plan? Schedule a call with us here:

Are federal employees working longer than they need to? Are they working for “free” and not realizing it? Katherine Groce and Sam Nash discuss the benefits federal workers need to understand when they are saving and planning for retirement. They also share a story regarding a husband that unknowingly left his wife unprotected when choosing between his pension options. Katherine and Sam also discuss common pitfalls and concerns people have when they are making the transition into retirement. Want to begin building your retirement plan? Schedule a call with us here:

Ryan discusses the current low tax rates due to the Trump tax cuts and the impending expiration of these rates. He emphasizes the importance of considering Roth conversions as a strategy to mitigate future tax liabilities. The discussion also highlights the necessity of having a tax plan in place for retirement, drawing comparisons to how wealthy individuals manage their taxes effectively. Want to begin building your retirement plan? Schedule a call with us here:

Mike delves into the recent surge in Roth conversions, exploring the reasons behind this trend and the importance of tailored tax strategies. He emphasizes the need for effective tax planning, highlighting that it is not a one-time event but an ongoing process. The discussion also touches on the significance of understanding individual financial situations to make informed decisions about tax efficiency and wealth preservation. Want to begin building your retirement plan? Schedule a call with us here:

Ryan provides insights into preparing for a first appointment, the importance of understanding the financial planning process, and the mindset needed for retirement planning. He also shares the significance of having a plan for life when entering retirement. Want to begin building your retirement plan? Schedule a call with us here:

Mike discusses the implications of more interest rate cuts by the Fed, the impact of upcoming elections on economic stability, and strategies for investing amidst market volatility. He highlights the importance of understanding the broader economic landscape and making informed financial decisions, particularly in light of potential chaos surrounding the elections and the debt ceiling. Want to begin building your retirement plan? Schedule a call with us here:

Mike delves into the upcoming expiration of the Trump tax cuts and the implications for taxpayers, particularly regarding estate taxes and 401k contributions. He emphasizes the importance of proactive tax planning and the need for individuals to understand their financial situations to avoid significant tax burdens in the future. Mike highlights strategies for maximizing retirement savings and the necessity of diversifying tax strategies to ensure financial security. Want to begin building your retirement plan? Schedule a call with us here:

Ryan focuses on the future of Social Security, the potential for significant cuts in benefits, and the importance of having a solid retirement plan. He also discusses the political implications surrounding Social Security and emphasizes the need for individuals to take proactive steps in their financial planning, including the use of annuities to secure income in retirement. Want to begin building your retirement plan? Schedule a call with us here:

Ryan & Lawrence discuss their journeys to becoming financial advisors, sharing personal stories and insights into the importance of financial planning. Lawrence reflects on his background and motivation to help others, while Ryan shares his unexpected path from marine biology to finance. They emphasize the significance of choosing an independent and fiduciary advisor for personalized financial guidance. Want to begin building your retirement plan? Schedule a call with us here:

Ryan discusses the often-overlooked fees associated with 401k plans and provides actionable strategies for lowering these costs. He emphasizes the importance of understanding the fees you are paying, reviewing your investment options, and seeking independent financial advice to ensure you are not overpaying for your retirement savings. The conversation highlights the need for financial literacy and proactive management of retirement funds to maximize savings and investment returns. Want to begin building your retirement plan? Schedule a call with us here:

Mike and Ryan discuss the fundamentals of 401(k) plans, emphasizing their importance in retirement planning. They explain how these employer-sponsored retirement accounts work, the significance of employer matching contributions, and the necessity of understanding fees and investment options. Want to begin building your retirement plan? Schedule a call with us here:

A recent study found that 1 in 5 Americans over 65 are still working, not because they want to, but because they have to. Mike and Ryan emphasize the importance of having a comprehensive retirement plan that provides the freedom to choose whether to continue working or not. They discuss the lack of proper advice and guidance that leads to people running out of money and being forced to go back to work. Mike and Ryan also highlight the need for a plan that ensures a steady income stream in retirement and the option to transfer the risk of running out of money to insurance companies. They challenge listeners to find an investment vehicle that guarantees never running out of money without involving insurance. Want to begin building your retirement plan? Schedule a call with us here:

Mike and Ryan highlight the benefits of tax planning, such as minimizing tax liabilities and maximizing personal wealth. They also explain the difference between a tax preparer and a tax planner, with the latter providing proactive advice and strategies to optimize tax outcomes. Want to begin building your retirement plan? Schedule a call with us here:

Mike discusses tax planning and retirement savings rules that have recently changed, including the elimination of required minimum distributions (RMDs) from Roth 401(k) plans and the reduction of penalties for missed RMDs. The discussion also touches on the importance of tax planning and maximizing the benefits of 401(k)s and IRAs. The conversation concludes with a mention of catch-up contributions for high earners and alternative solutions for tax-savvy individuals. Want to begin building your retirement plan? Schedule a call with us here:

Ryan discusses how to navigate market volatility and protect your retirement savings. He emphasizes the importance of having a solid financial plan that includes income streams and protection against market downturns. Ryan also explains the role of emotions in investing and how having a plan can help minimize emotional reactions. The conversation touches on the use of annuities for income generation and the importance of tax planning in retirement. Want to begin building your retirement plan? Schedule a call with us here:

Ryan discusses the timing of doing a Roth conversion and explores the options of doing one during a market downturn. He highlights the potential tax savings that can be achieved through strategic Roth conversions. Want to begin building your retirement plan? Schedule a call with us here:

Saving for retirement is important, but it's crucial to consider the tax implications of required minimum distributions (RMDs). Many people are unaware that they must take money out of their retirement accounts at a certain age, regardless of whether they need it or not. This can result in a significant tax burden. Mike and Ryan discuss how financial advisors often neglect to discuss taxes with their clients, as their focus is on accumulating assets. However, proper tax planning can lead to substantial savings and a more tax-efficient inheritance for future generations. Taking advantage of Roth conversions and other tax strategies before the 2026 sunset provision is crucial. Want to begin building your retirement plan? Schedule a call with us here:

Ryan discusses the parts of a financial plan that need to have a mid-year checkup leading into retirement, including retirement contributions, asset allocations, tax loss harvesting, and estate planning. Want to begin building your retirement plan? Schedule a call with us here:

Mike discusses the frustrations with RMDs and fees associated with retirement accounts, and why tax planning is important when building a retirement plan. Mike highlights why in-depth tax planning is necessary to potentially achieve a 0% tax bracket in retirement. Want to begin building your retirement plan? Schedule a call with us here:

Mike dives into how required minimum distributions work and how they can possibly lead to higher tax brackets in retirement. He emphasizes the need to minimize taxes and create tax-efficient income streams. Mike also touches on the challenges of managing RMDs and the penalties for not taking out the correct amount. Want to begin building your retirement plan? Schedule a call with us here:

Mike and Ryan discuss the DOW Jones recently breaking the 40,000 mark and the impact of market fluctuations on retirement planning. They emphasize the importance of tax planning and taking control of tax bills during retirement. Mike and Ryan also cover strategies for minimizing tax liabilities and optimizing income from the sale of a business. Want to begin building your retirement plan? Schedule a call with us here:

Mike and Ryan delve into the implications that government spending can have on your taxes, and the potential shock that may come when taxes increase after the Trump tax cuts expire. They also discuss the need for tax efficiency and the potential savings that could come from strategic financial planning in retirement. Want to begin building your retirement plan? Schedule a call with us here: