Are you ready to unlock the secrets of Social Security in 2025? 

Join Thatcher Taylor on the latest episode of the Functional Retirement Podcast as he dives deep into the significant changes that could impact your retirement income. From a 2.5% cost of living adjustment to the groundbreaking Social Security Fairness Act that eliminates the windfall elimination provision, this episode is packed with essential insights for anyone navigating the complexities of Social Security. 

Whether you're already receiving benefits or planning for the future, Thatcher's engaging and informative style will help you understand how these changes can affect your financial landscape. Don't miss out on this opportunity to empower your retirement strategy!



0:10 - Introduction and Podcast Growth
1:02 - Podcast Format Changes
3:04 - Social Security Changes Overview
3:27 - Cost of Living Adjustments (COLA)
5:04 - Maximum Taxable Earnings Increase
7:08 - Social Security Tax Breakdown
9:06 - Earnings Limit for Early Social Security Beneficiaries
12:12 - Social Security Fairness Act Introduction
15:00 - Windfall Elimination Provision (WEP)
16:06 - Government Pension Offset (GPO)
18:06 - Medicare Part B Premiums
20:22 - Planning and Preparation for Social Security
21:15 - Conclusion and Call to Action

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
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DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

On this episode of the Functional Retirement Podcast, host Thatcher Taylor,  delves into the relationship between taxes and retirement planning. He emphasizes the importance of considering tax implications not just for the current year, but for the entire span of retirement. Thatcher highlights the need to strike a balance between saving now and enjoying the benefits later, cautioning against focusing solely on preserving portfolio value in retirement. Tune in to learn more about optimizing tax savings throughout your retirement journey.

Timestamps:
02:16 Retirement spending and taxation.
06:30 Understanding effective tax rates.
08:09 Navigating tax brackets in retirement.
12:43 Tax implications of retirement withdrawals.
19:17 The tax trap.
20:13 Taxes in retirement dynamics.

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
Schedule a free consultation https://www.propathfinancial.com/get-started

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

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DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

"High portfolio variability can lead to sleepless nights for clients, which can then result in poor investment decisions."

Exploring the Viability of a 100% Equity Portfolio in Retirement

In the most recent episode of The Functional Retirement Podcast, Thatcher Taylor delves into the concept of maintaining a 100% equity portfolio during retirement. While acknowledging that this approach may not suit everyone, the host suggests that it could be a viable option depending on individual circumstances and risk tolerance. The discussion underscores the importance of comprehending the inherent variability of a portfolio when selecting the most suitable investment strategy for retirees.

The episode showcases a real-life client scenario where transitioning from a conservative model to a moderate 60-40 portfolio with increased equity exposure resulted in higher retirement spending while still ensuring a high probability of success. This example illustrates how a shift towards equities can impact income distribution and overall financial outcomes during retirement.

Moreover, the episode references Morningstar research indicating that a 100% equity portfolio can lead to larger distributions in retirement but also carries increased risk and the potential for lower assets at the end of life. The research suggests that the optimal asset allocation and distribution strategy depend on factors such as risk tolerance, probability of failure, and desired spending levels.

Ultimately, the episode concludes that while a 100% equity portfolio may not be suitable for all retirees, finding the right allocation that balances risk and return based on individual circumstances is crucial. By considering factors like longevity risk, inflation, and market volatility, retirees can tailor their investment approach to effectively meet their financial goals and retirement needs.

[00:00:49] Portfolio variability in retirement.

[00:05:07] Asset Allocation Adjustment.

[00:09:28] Retirement income strategies.

[00:15:00] Sustainable withdrawal rates.

[00:17:20] Maximizing Portfolio Distributions.

[00:21:05] Importance of equities in retirement

Blanchett Study

Morningstar

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
Schedule a free consultation https://www.propathfinancial.com/get-started

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DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

Naming a trust as the beneficiary of an IRA can be a complex process that often requires guidance from a professional, such as an estate planning attorney. As discussed in the podcast episode, this decision involves various intricate considerations and potential implications that necessitate expert advice to navigate effectively.

If you have questions or need further guidance on estate planning and retirement strategies, contact Thatcher Taylor at ProPath Financial or consult an estate planning attorney for personalized advice. Stay tuned for more insightful episodes on retirement planning and financial management.

Timestamps:
0:38 Naming IRA Beneficiary as Trust.
06:05 Inherited IRA distribution rules.
10:04 Reasons for using a trust.
14:08 Trusts for IRA beneficiaries.
18:47 Using a trust as beneficiary.
19:29 Retirement planning journey.

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
Schedule a free consultation https://www.propathfinancial.com/get-started

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

Join The Newsletter For All Wealth Building Tactics
https://propath.ck.page/60fab1df4d

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

In episode 36 of the Functional Retirement Podcast, host Thatcher delves into retirement withdrawal strategies to potentially increase income. From discussing the challenges of retirement spending to exploring various strategies like the 4% rule, variable spending, buffer assets, insurance and investments, and tax-efficient withdrawals, this episode offers valuable insights for planning a secure retirement.

See Referenced Chart Here:
https://retirementresearcher.com/dashboard/

🔗 For more details and to access the supplemental blog, visit https://www.propathfinancial.com/post/moreretirementincome

Time Stamps: 
0:49 Retirement withdrawal strategies.
4:23 Accumulation vs. decumulation.
10:49 Retirement Investment Strategies
14:26 Maximizing retirement income strategies.
16:15 Buffer assets for retirement.
19:15 Reverse Mortgage Strategy
23:52 Guaranteeing income with annuities.
27:13 Maximizing retirement income strategies.

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
Schedule a free consultation https://www.propathfinancial.com/get-started

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

Join The Newsletter For All Wealth Building Tactics
https://propath.ck.page/60fab1df4d

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

In this episode, Thatcher covers options such as Roth conversions, backdoor Roth contributions, non-deductible IRA contributions, taxable brokerage accounts, 401ks, life insurance, annuities, paying off your mortgage, and investing in real estate.

If you want to learn more about these options and how to choose the right one for your financial situation, make sure to listen to the full episode. For a detailed list of the alternatives discussed, visit www.propathfinancial.com/post/nine-roth-alternatives.

Don't miss out on valuable financial insights and tips. Like, subscribe, and follow the Functional Retirement Podcast on your favorite platform. For personalized financial advice or to ask questions, reach out at [email protected].

Stay tuned for more episodes and remember, financial planning is key to securing your future. Thank you for listening!

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
Schedule a free consultation https://www.propathfinancial.com/get-started

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

Join The Newsletter For All Wealth Building Tactics
https://propath.ck.page/60fab1df4d

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

Hey everyone! Thatcher Taylor here, your host of the Functional Retirement Podcast. I am thrilled to announce the release of our latest episode, where we dive deep into the topic of paying $0 in taxes during retirement. In this episode, we explore various strategies and options to reduce your tax burden and potentially achieve a tax-free retirement.

If you have any questions or specific topics you'd like Thatcher to address, feel free to comment below or reach out via email. Subscribe for more episodes on financial planning and retirement strategies. Thank you for tuning in!

Timestamps:
0:59 Ways to reduce taxes in retirement.
4:43 Tax implications of social security.
10:49 Strategies for minimizing taxes.
13:45 Options to reduce income.
18:24 Charitable tax strategies.
19:27 Planning for 0% tax retirement.

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
Schedule a free consultation https://www.propathfinancial.com/get-started

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

Join The Newsletter For All Wealth Building Tactics
https://propath.ck.page/60fab1df4d

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

💵In this 33rd installment of the Functional Retirement Podcast, host Thatcher Taylor discusses the potential impact of financially supporting adult children on your retirement savings. Thatcher explores the sacrifices that may need to be made, the common circumstances that lead to kids needing financial help, and strategies to preserve your retirement while still assisting your children.

👩‍🦳👨‍🦳If you're a parent navigating the balance between supporting your adult children and securing your retirement, this episode provides valuable insights and strategies to help you make informed decisions. Don't miss out on this important discussion!

Timestamps:
0:49 Sacrifices for Adult Children.
6:09  Paying for college.
8:18 Unexpected Costs in Life
11:33 Managing housing costs after college.
16:27 Financial sacrifices for adult children.
19:48 Planning financial strategies for success.
22:17 Planning for unexpected financial support.

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
Schedule a free consultation https://www.propathfinancial.com/get-started

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

Join The Newsletter For All Wealth Building Tactics
https://propath.ck.page/60fab1df4d

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

In this episode of the Functional Retirement Podcast, host Thatcher Taylor delves into the complexities of the Social Security system and the ongoing debate surrounding its future. With insights from the recent trustee's report and a breakdown of key statistics, Thatcher provides a comprehensive overview of the current state of Social Security and potential adjustments that may be necessary.

Whether you're nearing retirement age or just starting to plan for the future, this episode offers valuable information to help you make informed decisions about your financial security. Tune in to gain a deeper understanding of the Social Security war and how it may affect your retirement plans. Check out the links below for more information!

https://www.ssa.gov/OACT/solvency/provisions/payrolltax_summary.html
https://www.ssa.gov/policy/docs/chartbooks/fast_facts/2023/fast_facts23.html

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
Schedule a free consultation https://www.propathfinancial.com/get-started

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

Join The Newsletter For All Wealth Building Tactics
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DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

Hey everyone! 🎙️ Excited to share the latest episode of the Functional Retirement Podcast with you! Today, we're diving into the age-old question: Is taking Social Security early crazy? Let's find out together! #retirementplanning

In this episode, we explore the psychology behind starting Social Security at 62. Are you driven by a sense of ownership, fear of loss, or a desire to pass on your estate? Join us as we uncover the motivations behind early benefit claims. #Retirement #Finance

Links Mentioned:
https://www.savvysocialsecurity.com/article.aspx?a=99480

https://crr.bc.edu/the-psychology-behind-starting-social-security-at-62/

https://crr.bc.edu/social-securitys-longevity-insurance-protects-those-with-uncertain-life-expectancies/

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
Schedule a free consultation https://www.propathfinancial.com/get-started

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

Join The Newsletter For All Wealth Building Tactics
https://propath.ck.page/60fab1df4d

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.