For Your Retirement

Retirement planning, and retirement itself, often involves volatility, uncertainty, complexity and ambiguity. These make up the acronym VUCA, which is a framework that is gaining popularity with the pandemic. Originating out of the US War College and applied to corporate America, I attempt to discuss the framework in the context of retirement.

Tax planning in retirement can mean a few different things. Taxes will be the largest expense in retirement for many of you. There are some simple strategies that can have a concrete impact on your taxes, but there are also multi-year strategies that require projections and a little bit of art. These can also be the most impactful, like Roth conversions. Be sure to download the pdf below for more information.

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Retirement Planning for Widows and Widowers

Retirement Planning with the new SECURE Act and money scripts are discussed. The SECURE Act made changes to RMDs, QCDs, inherited accounts and contributions. The pandemic reached the US a few short months after passage, so most people haven't had a chance to incorporate these changes into their plan. Money scripts include money worship, money status, money vigilance and money avoidance. We usually have a little of each in our lives but going to the extreme in any one could have an impact on your money.

Learn more about money scripts

Retirement planning has been affected by The CARES Act, which was passed by Congress in response to the COVID-19 pandemic. While there were many provisions, there are some specific examples that apply to people near or in retirement. No RMDs are required in 2020, and there's a way to undo it. There are also some tax strategies you should know about in case it can lower your tax bill.

Learn more.

People retiring single have to think about some areas differently than couples. In some ways, retirement planning is more simple. In others, it can be more complicated. This episode walks you through eight areas the single retiree should be thinking about, including taxes, Social Security, long-term care, Medicare and insurance.

9 Mistakes to Avoid When Retiring Solo Ebook

The terms Fee-Only, Fee-based and Fiduciary can be confusing. Complicating matters more, a lot of financial advisors can answer "yes" when asked if they are a fiduciary. Not as many can answer "yes" if asked if they are a fiduciary at all times. Listen to this episode to learn about the different types of Fiduciaries out there. You'll also learn the differences in Fee-Only, Fee and Commission, and commission based advisors so you can choose the best type for yourself.

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The inaugural episode of For Your Retirement walks you through a retirement focused case study. Financial Planning is more than investment management, even goals-based investment management. This episode should illustrate what that means. Areas covered include tax planning, investments, income planning, estate planning, insurance planning, and government benefits optimization.

• Read the case study