Today is a listener question edition of the show and we’re diving into two relatable retirement planning scenarios that may mirror your own concerns.

First up: a listener wants to quit his corporate job to start a business. David shares how age, funding source, and risk tolerance play important roles in that decision, and why raiding your IRA might not be your best move. Then, they respond to a retiree who recently realized their pension doesn’t adjust for inflation. We’ll explain how to assess inflation risk, use the "Rule of 72," and help balance your IRA investment strategy for long-term purchasing power.

Here’s some of what we discuss in this episode:

🚀 Starting a business near retirement? Weigh the risk very carefully.

🏛️ IRA withdrawals come with taxes and potential penalties so plan before you pull.

🧮 Use the Rule of 72 to see how inflation could cut your buying power.

📈 IRAs should typically be invested for growth if you won’t need them soon.

For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

Big tax law changes always bring big rumors. But before you assume Social Security is now tax-free or that you’re getting a $40K deduction just for breathing, let’s set the record straight on what this new bill didn’t actually do. This episode, David breaks down 6 of the most common myths floating around about the new “One Big Beautiful Bill Act.”

Here are the myths we discuss in today’s show:

Myth #1: “Social Security is no longer taxed.”

Myth #2: “This new law means tax cuts for everybody.”

Myth #3: “The tax brackets are permanent now, so I don’t need to worry.”

Myth #4: “A $15M estate tax exemption means estate planning doesn’t matter anymore.”

Myth #5: “Car loan interest is now fully deductible.”

Myth #6: “I can skip itemizing and still get a huge deduction for giving to charity.”

For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

A new tax bill has officially passed (you’ve probably heard it mentioned as the “Big Beautiful Bill”). And while most headlines are focused on politics, we’re focused on what it means for your retirement. The choices you make in the next year or two could have a significant impact on how much you keep and how much goes to Uncle Sam. Today, David breaks down key parts that are most likely to affect retirees.

Here’s some of what we discuss in this episode:

🧾 Why that viral Social Security headline needs clarification

📊 How a boosted standard deduction could potentially save you hundreds or even thousands

🧠 The Byrd Rule workaround Congress used to make it happen

🏠 Why SALT deduction changes matter more in high-tax states

🙌 How non-itemizers can now deduct up to $2,000 in giving

📅 Why 2028 is an important year to keep on your planning radar

For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

Markets crash. Taxes shift. Congress waffles on Social Security. You can’t control any of that. And stressing over it won’t help. What will? Focusing on the four things that can actually help move the needle in retirement.

Today, David walks through four key factors you can control and how they could make a lasting difference in your financial future. From managing market risk and creating lifetime income to building tax-smart wealth and planning beyond Social Security, David explains how to stay calm, focused, and strategic, no matter what headlines come your way.

Here’s some of what we discuss in this episode:

📉 Controlling your exposure to market risk

💰 Building income streams you can’t outlive

🧾 Choosing where your wealth lives (and how it’s taxed)

🧓 Preparing your plan to be less reliant on Social Security

For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

This Father’s Day, give your family something that lasts: financial confidence. In this special episode, David outlines three essential financial steps every dad should prioritize, whether you’re chasing toddlers or preparing for retirement. From building a strong financial base to adjusting your budget as life changes, these timeless moves can help set your family up for long-term independence.

Here’s some of what we discuss in this episode:

📊 The budgeting mistake retirees often make

📉 The one type of insurance dads often overlook

🧾 Living wills and beneficiary tips

🍼 How young dads can avoid future debt traps

🏠 The estate planning steps some dads forget

Check out the Bankrate Insurance Calculator: https://www.bankrate.com/insurance/life-insurance/life-insurance-calculator/ 

For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

Health Savings Accounts (HSAs) might just be the most powerful and overlooked tool in your financial toolbox. Today, David is breaking down six key things everyone should know about HSAs, from eligibility and contributions to how they can grow over time and work across job changes.

Here’s some of what we discuss in this episode:

🩺 Who qualifies and who doesn’t

💰 Maximize annual contributions the smart way

📈 Using an HAS as an investment

🧳 What happens if you change jobs

💳 Tax-free withdrawals for medical expenses

For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

Retirement planning can feel like a whirlwind, flooded with choices, tight timelines, and the pressure to “get it right.” In this special mailbag episode, David answers real questions from listeners who are navigating this very moment. One is preparing to retire and feeling overwhelmed; the other is already retired and sorting through the complexities of Roth conversions.

Here’s some of what we discuss in this episode:

📬 Structuring reliable retirement income from Social Security, pensions, and withdrawals

📆 Why it’s crucial to have a retirement plan before you stop working

🚫 The IRS’s 5-year rule for Roth conversions  

💡 The importance of budgeting in retirement

Please remember that converting an employer plan account to a Roth IRA is a taxable event. Increased taxable income from the Roth IRA conversion may have several consequences including (but not limited to) a need for additional tax withholding or estimated tax payments, the loss of certain tax deductions and credits, and higher taxes on Social Security benefits and higher Medicare premiums. Be sure to consult with a qualified tax advisor before making any decisions regarding your IRA.

For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

Taxes don’t stop when your paycheck does, and they certainly don’t skip your heirs. In this episode, David tackles two common listener questions that reveal just how much tax strategy plays into smart retirement and estate planning. If you’ve been worried about how much your kids will owe in inheritance taxes or if you’re sitting on a pile of tax-deferred savings, David offers practical tips on ways to help you avoid getting a surprise tax bill.

Here’s some of what we discuss in this episode:

🧾 Estate taxes: Do you need to worry?

💡 When a life insurance policy may be a smart estate tool

🏦 Roth conversions before RMDs—smart or not?

👀 Why your $1M IRA isn’t fully yours

📉 Gifting strategies to help reduce your taxable estate now

Please remember that converting an employer plan account to a Roth IRA is a taxable event. Increased taxable income from the Roth IRA conversion may have several consequences including (but not limited to) a need for additional tax withholding or estimated tax payments, the loss of certain tax deductions and credits, and higher taxes on Social Security benefits and higher Medicare premiums. Be sure to consult with a qualified tax advisor before making any decisions regarding your IRA.

For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

The headlines are loud, the markets are messy, and your gut might be telling you to do something — anything — right now. But what should you actually do when your portfolio takes a hit?

Instead of guessing what’s next or obsessing over breaking news, David walks you through four critical questions every investor should ask during turbulent times. From re-evaluating your plan and risk tolerance to exploring rebalancing and tax-loss harvesting opportunities, this episode gives you practical ways to stay grounded and focused. Don’t miss this important conversation as David covers what to do and not do in an unpredictable market.

Here’s some of what we discuss in this episode:

📉 Why now is the time for a gut-check, not a panic move

⚖️ How to re-align your risk tolerance with reality

🔁 Smart moves: rebalancing and tax-loss harvesting

📺 What unhelpful behaviors to avoid

🧠 Why the best strategy might be to do nothing

For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

We’re back with another mailbag episode! In this week’s edition, we’re tackling 3 great questions from listeners like you. These episodes are some of David's favorites, as they provide a chance to dive deep into key topics and explore the finer details.

Ted is curious about how to manage the wealth he'll leave behind for his children. Roger is wondering if setting up a trust is the best way to help minimize the tax burden on his kids when they inherit his accounts. There are valuable lessons for everyone in this conversation, so don’t miss out on what you can learn today!

Here are the questions we tackle in today’s show:

❓ “How can I determine how much money I can leave behind for my kids without compromising my retirement?”

❓ "My job might have layoffs with a severance package equal to a year's salary. Am I foolish for hoping to get laid off?"

❓“Should I set up a trust to help my kids save money on taxes when they inherit my investment accounts?”

For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.