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By Telton W. Hall
4.7
1515 ratings
The podcast currently has 80 episodes available.
Reasons People Don't Change:
Increase Your Chances of Success:
Changing financial behavior can be challenging, but it is possible.
Are you getting what you want or are you putting yourselves in a position someone could try and get the better of you?
Find out more about the Retire Confidently Program
Purchase The Secure Solution: Creating a High-Quality Retirement in a Low-Interest-Rate World
Telton W Hall, CFP® is a husband, father, retirement planning expert, small-town-boy at heart, nationally published author, sought-after speaker, former college basketball player, founder/owner/team member of Utah based Advanced Financial Planning LLC, hiking enthusiast, Jesus follower, business leader, team builder, and to the core Telton is an educator.
Here are some considerations about paying tithing during retirement:
· Your income sources. In retirement, your income may come from a variety of sources, including Social Security, pensions, retirement savings, and investments. You will need to decide how you want to tithe on these different sources. Some people choose to tithe on their gross income, while others tithe on their net income after taxes. You may also want to consider tithing on the earnings from your investments, even if you have not yet withdrawn them.
· Your financial situation. Your financial situation may also affect your decision about how much to tithe. If you are on a tight budget, you may need to adjust your tithing amount. However, if you are financially comfortable, you may want to consider increasing your tithing. Ultimately, the decision of how much to tithe is a personal one.
· Your beliefs. Your religious beliefs will also play a role in your decision about tithing. Some people believe that tithing is a biblical mandate, while others believe that it is a personal choice. If you believe that tithing is important, you may want to continue tithing in retirement even if your income is reduced.
Here are some additional tips for tithing in retirement:
· Talk to your financial advisor. Your financial advisor can help you determine how tithing will affect your retirement budget. They can also help you set up a tithing plan that fits your needs.
· Be flexible. Your financial situation may change over time, so you may need to adjust your tithing amount accordingly. Be prepared to make changes as needed.
· Don't forget the spiritual benefits. Tithing is not just about money. It is also about giving back to your community and supporting your faith. Don't forget the spiritual benefits of tithing when you are making your decision.
Ultimately, the decision of whether or not to tithe in retirement is a personal one. There is no right or wrong answer. However, by considering your income sources, your financial situation, and your religious beliefs, you can make a decision that is right for you.
Are you getting what you want or are you putting yourselves in a position someone could try and get the better of you?
Find out more about the Retire Confidently Program
Purchase The Secure Solution: Creating a High-Quality Retirement in a Low-Interest-Rate World
Telton W Hall, CFP® is a husband, father, retirement planning expert, small-town-boy at heart, nationally published author, sought-after speaker, former college basketball player, founder/owner/team member of Utah based Advanced Financial Planning LLC, hiking enthusiast, Jesus follower, business leader, team builder, and to the core Telton is an educator.
Whether or not to tithe on retirement funds is a personal decision. There is no right or wrong answer, and it is important to do what feels right for you.
Some people believe that tithing is a way of showing gratitude to God for all that they have, including their retirement funds. They believe that by tithing, they are returning a portion of what God has given them.
Others believe that tithing should only be done on income that is earned while working. They believe that retirement funds are already a form of tithing, as they represent the fruits of one's labor over a lifetime.
Ultimately, the decision of whether or not to tithe on retirement funds is a personal one.
If you are considering tithing on retirement funds, there are a few things to keep in mind.
First, you will need to decide how much you want to tithe. There is no set amount, and it is up to you to decide what you feel comfortable with.
Second, you will need to decide how you want to tithe. You can tithe directly to your church, or you can tithe to a specific ministry or cause.
Third, you will need to decide how often you want to tithe. You can tithe once a month, once a quarter, or once a year.
Here are some additional things to consider when making your decision:
If you are still unsure about whether or not to tithe on your retirement funds, you may want to talk to your pastor or a financial advisor. They can help you to make the decision that is right for you.
Are you getting what you want or are you putting yourselves in a position someone could try and get the better of you?
Find out more about the Retire Confidently Program
Purchase The Secure Solution: Creating a High-Quality Retirement in a Low-Interest-Rate World
Telton W Hall, CFP® is a husband, father, retirement planning expert, small-town-boy at heart, nationally published author, sought-after speaker, former college basketball player, founder/owner/team member of Utah based Advanced Financial Planning LLC, hiking enthusiast, Jesus follower, business leader, team builder, and to the core Telton is an educator.
Life insurance that can be transferred to an annuity is called a life insurance annuity. It is a type of life insurance policy that allows the policyholder to convert a portion of the death benefit into an annuity. The annuity will then pay out a regular income stream to the policyholder during their lifetime.
There are two main types of life insurance annuities:
Life insurance annuities can offer a number of benefits, including:
However, there are also some potential drawbacks to life insurance annuities, including:
If you are considering a life insurance annuity, it is important to speak with a financial advisor to discuss your individual needs and circumstances.
Here are some of the factors to consider when deciding whether to transfer a life insurance policy to an annuity:
Are you getting what you want or are you putting yourselves in a position someone could try and get the better of you?
Find out more about the Retire Confidently Program
Purchase The Secure Solution: Creating a High-Quality Retirement in a Low-Interest-Rate World
Telton W Hall, CFP® is a husband, father, retirement planning expert, small-town-boy at heart, nationally published author, sought-after speaker, former college basketball player, founder/owner/team member of Utah based Advanced Financial Planning LLC, hiking enthusiast, Jesus follower, business leader, team builder, and to the core Telton is an educator.
This week we get a little nerdy. Who am I kidding. We get A LOT nerdy. We chat about fixed annuities vs. variable annuities.
Fixed indexed annuities
Variable annuities
Guaranteed lifetime income
Both fixed indexed annuities and variable annuities can be used to provide guaranteed lifetime income. However, the specific features of these income options vary from product to product.
It is important to compare the features of different indexed annuities and variable annuities before you decide which type of annuity is right for you. Consider your financial goals, risk tolerance, and time horizon when making your decision.
Here are some additional things to consider when comparing indexed annuities and variable annuities:
Are you getting what you want or are you putting yourselves in a position someone could try and get the better of you?
Find out more about the Retire Confidently Program
Purchase The Secure Solution: Creating a High-Quality Retirement in a Low-Interest-Rate World
Telton W Hall, CFP® is a husband, father, retirement planning expert, small-town-boy at heart, nationally published author, sought-after speaker, former college basketball player, founder/owner/team member of Utah based Advanced Financial Planning LLC, hiking enthusiast, Jesus follower, business leader, team builder, and to the core Telton is an educator.
No. AND. Yes.
No, your Social Security benefit will not go up once you begin to withdraw it. Your benefit is calculated based on your earnings history and your full retirement age. If you start taking benefits before your full retirement age, your benefit will be reduced. If you start taking benefits after your full retirement age, your benefit will be increased. However, your benefit will never go up after you start taking it.
For example, let's say you have a full retirement age of 66 and you earn an average
of $50,000 per year over your lifetime. If you start taking benefits at 62,
your benefit will be reduced by 30%. If you start taking benefits at 70, your
benefit will be increased by 32%. However, if you start taking benefits at 66,
your benefit will be the same no matter how long you take it.
Itis important to note that your Social Security benefit is not the only source
of income you will have in retirement. You may also have income from a pension,
savings, investments, or other sources. It is important to consider all of your
sources of income when planning for retirement.
Yes. Social Security benefits are adjusted for inflation each year. This is called a cost-of-living adjustment (COLA). The COLA is calculated based on the Consumer Price Index (CPI), which measures the prices of goods and services.
The COLA for 2023 is 8.7%. This means that Social Security benefits will increase
by 8.7% in January 2023. This is the largest COLA since 1982.
The COLA is important because it helps to ensure that Social Security benefits keep
pace with inflation. If benefits did not increase with inflation, they would
lose purchasing power over time. This would make it more difficult for retirees
to meet their basic needs.
The COLA is calculated using a formula that is set by law. The formula takes into
account the average change in the CPI between the third quarter of the previous
year and the third quarter of the current year.
The COLA is an important part of Social Security. It helps to ensure that benefits
keep pace with inflation and that retirees can maintain their standard of
living.
Are you getting what you want or are you putting yourselves in a position someone could try and get the better of you?
Find out more about the Retire Confidently Program
Purchase The Secure Solution: Creating a High-Quality Retirement in a Low-Interest-Rate World
Telton W Hall, CFP® is a husband, father, retirement planning expert, small-town-boy at heart, nationally published author, sought-after speaker, former college basketball player, founder/owner/team member of Utah based Advanced Financial Planning LLC, hiking enthusiast, Jesus follower, business leader, team builder, and to the core Telton is an educator.
An assumed IRA is an IRA that has been inherited by a spouse. The spouse can treat the IRA as their own, and they can continue to make contributions to the IRA. They will also have to take required minimum distributions (RMDs) starting at age 72.
An inherited IRA is an IRA that has been inherited by someone other than a spouse. The beneficiary of the IRA must take RMDs starting at the end of the year following the death of the account owner. The RMDs are calculated based on the beneficiary's life expectancy.
The main difference between an assumed IRA and an inherited IRA is that the spouse of the account owner can treat the IRA as their own, while other beneficiaries cannot. This means that the spouse of the account owner can continue to make contributions to the IRA and they will not have to take RMDs until they are 72. Other beneficiaries will have to take RMDs starting at the end of the year following the death of the account owner.
It is important to speak with a financial advisor to discuss the best options for your specific situation. Please reach out if you have any questions.
Are you getting what you want or are you putting yourselves in a position someone could try and get the better of you?
Find out more about the Retire Confidently Program
Purchase The Secure Solution: Creating a High-Quality Retirement in a Low-Interest-Rate World
Telton W Hall, CFP® is a husband, father, retirement planning expert, small-town-boy at heart, nationally published author, sought-after speaker, former college basketball player, founder/owner/team member of Utah based Advanced Financial Planning LLC, hiking enthusiast, Jesus follower, business leader, team builder, and to the core Telton is an educator.
I'm amazed that as I read my wife's journal about 12 years ago, how much is similar to today.
The economy is a complex system that is constantly changing. It is influenced by a variety of factors, including consumer spending, business investment, government spending, and global events. As a result, the economy goes through periods of expansion and contraction, which are known as economic cycles.
An economic cycle is a period of time during which the economy grows and then shrinks. The four stages of an economic cycle are:
“The stock market is a device for transferring money from the impatient to the patient.” ~ Warren Buffet
“The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go. In the end, what matters isn’t crossing the finish line before anybody else but just making sure that you do cross it”
~ Benjamin Graham
“Waiting helps you as an investor and a lot of people just can't stand to wait. If you didn't get the deferred-gratification gene, you've got to work very hard to overcome that.” ~ Charlie Munger
Are you getting what you want or are you putting yourselves in a position someone could try and get the better of you?
Find out more about the Retire Confidently Program
Purchase The Secure Solution: Creating a High-Quality Retirement in a Low-Interest-Rate World
Telton W Hall, CFP® is a husband, father, retirement planning expert, small-town-boy at heart, nationally published author, sought-after speaker, former college basketball player, founder/owner/team member of Utah based Advanced Financial Planning LLC, hiking enthusiast, Jesus follower, business leader, team builder, and to the core Telton is an educator.
An in-service 401(k) rollover is the transfer of your 401(k) assets from your current employer's plan to an IRA or another 401(k) plan while you are still employed. This is different from a traditional 401(k) rollover, which happens when you leave your job and take your 401(k) assets with you.
There are a few benefits to doing an in-service 401(k) rollover. First, it allows you to have more control over your investments. With a 401(k) plan, your employer typically chooses the investments that are available to you. With an IRA, you can choose from a wider variety of investments, including stocks, bonds, and mutual funds.
Second, an in-service 401(k) rollover can save you money on fees. 401(k) plans typically have higher fees than IRAs. By rolling your 401(k) assets into an IRA, you can save money on these fees.
Third, an in-service 401(k) rollover can give you access to more investment options. Some 401(k) plans only offer a limited number of investment options. By rolling your 401(k) assets into an IRA, you can access a wider variety of investment options.
Not all 401(k) plans allow in-service rollovers. If your plan does allow in-service rollovers, you will need to contact your plan administrator to find out how to do it.
In-service 401(k) rollovers can be a great way to save money on fees, have more control over your investments, and access a wider variety of investment options. If your 401(k) plan allows in-service rollovers, you should consider doing one.
Are you getting what you want or are you putting yourselves in a position someone could try and get the better of you?
Find out more about the Retire Confidently Program
Purchase The Secure Solution: Creating a High-Quality Retirement in a Low-Interest-Rate World
Telton W Hall, CFP® is a husband, father, retirement planning expert, small-town-boy at heart, nationally published author, sought-after speaker, former college basketball player, founder/owner/team member of Utah based Advanced Financial Planning LLC, hiking enthusiast, Jesus follower, business leader, team builder, and to the core Telton is an educator.
Heaven is often thought of as a place of eternal bliss, where people are free from pain and suffering. However, there is another way to think about heaven: as a state of being, rather than a place. This means heaven can be something that we can experience in this life.
There are many ways to experience heaven on earth. One way is to experience heaven is to help others. When we give of ourselves to others, we feel a sense of joy and fulfillment that comes from knowing that we are making a difference in the world.
Of course, there will always be challenges and difficulties in life. But even in the midst of these challenges, we can still experience heaven by focusing on the positive and finding joy in the simple things. When we do this, we can find peace and happiness in our everyday lives.
When we focus on the positive and find joy in the simple things, we can create a heaven on earth for ourselves and for others.
Are you getting what you want or are you putting yourselves in a position someone could try and get the better of you?
Find out more about the Retire Confidently Program
Purchase The Secure Solution: Creating a High-Quality Retirement in a Low-Interest-Rate World
Telton W Hall, CFP® is a husband, father, retirement planning expert, small-town-boy at heart, nationally published author, sought-after speaker, former college basketball player, founder/owner/team member of Utah based Advanced Financial Planning LLC, hiking enthusiast, Jesus follower, business leader, team builder, and to the core Telton is an educator.
The podcast currently has 80 episodes available.