In this episode of the podcast, certified financial planner Chad Burton joins host Rob Black to discuss the various aspects of retirement planning and wealth management. The episode focuses on the importance of retirement readiness and happiness, emphasizing the need to plan for a fulfilling and financially secure future. Chad highlights the significance of factors such as taxes, income, long-term care, safe money, investing, life goals, and health and wellness in retirement planning. He also delves into the complexities of required minimum distributions (RMDs) and Roth conversions, providing valuable insights and strategies to navigate these aspects of retirement planning. Additionally, Chad sheds light on unexpected retirement expenses, such as taxes, inflation, healthcare costs, home maintenance, travel expenses, and the financial implications of losing a spouse. 

Timestamps:

[00:02:00] Delaying retirement for happiness.

[00:04:24] Bad advice versus a fiduciary.

[00:08:22] Account consolidation and taxes.

[00:10:57] RMDs - a ticking tax time bomb.

[00:15:05] Avoiding taxes with charitable donations.

[00:19:50] Seven Tests of Retirement Readiness.

[00:23:14] Tax benefits of a Roth IRA.

[00:25:13] Health insurance and retirement.

[00:29:06] Self-employed 401k strategies.

[00:33:14] Home maintenance expenses.

[00:35:43] Rising vacation costs.

[00:39:23] Timing the market doesn't matter.

[00:43:29] Retiring before a market decline.

[00:46:01] Social Security sustainability.

[00:49:10] Taxes on Social Security.

[00:53:02] Market performance scenarios.

[00:56:18] Knowing when to sell.

[01:00:10] Selling covered calls for income.

 

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