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This week on Retire Ready, host Kyle Hammerschmidt breaks down the latest updates and strategies to help you maximize your retirement savings. With big changes to contribution limits thanks to the Secure Act 2.0, it’s more important than ever to stay informed and plan ahead.

🎧 Highlights from the Episode:

• 🚀 2025 Contribution Limit Updates: Learn about the new limits for 401(k), 403(b), 457 plans, and the federal Thrift Savings Plan—now up to $23,500 (with even bigger boosts for those 60–63).
• 💼 Catch-Up Contributions: Why these changes are a game-changer for pre-retirement savers and how you can take full advantage.
• 🏦 IRA Contribution Insights: Uncover the key differences in IRA and Roth IRA limits for 2025, including strategies like the Backdoor Roth IRA for high-income earners.
• 💡 The Power of Compounding: Why investing consistently, no matter the market, is the key to long-term growth.

Kyle's expert tips will empower you to make informed decisions and build a comfortable retirement nest egg. Whether you’re decades away or

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Retire Ready Academy: https://retirereadyacademy.org/ nearing retirement, this episode is packed with actionable insights.

#RetireReady #RetirementPlanning #SecureAct2 #401k #RothIRA #FinancialFreedom

Sources:
1. 401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000 | Internal Revenue Service
2. Older Workers to Get ‘Super’ 401(k) Catch-Up Contributions in 2025 - The New York Times
3. Backdoor Roth IRA: Advantages and Tax Implications Explained
4. What the new 401(k) limits and other changes mean for your retirement

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Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

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In this episode, Kyle, dives into one of his favorite tax planning tools: Roth conversions. If you’ve got over a million dollars saved in your retirement accounts, this could be the most impactful eight minutes of your week.

Learn how Roth conversions can transform your retirement savings, offering benefits like tax-free withdrawals, freedom from Required Minimum Distributions, and protection against future tax hikes. Discover how they can help diversify your income, optimize your estate plan, and even lower your future Medicare premiums.

Kyle breaks it all down with real-life examples, clear explanations, and actionable insights tailored for those in their 50s or 60s aiming for a work-optional lifestyle. Whether you’re planning for the future or refining your strategy, this episode equips you with the knowledge to decide if Roth conversions are right for you.

Subscribe for more tips on navigating your financial journey and unlocking the retirement of your dreams!

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Retire Ready Academy: https://retirereadyacademy.org/

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website

Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

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Welcome to Retire Ready, the podcast that simplifies the complexities of retirement planning so you can confidently prepare for your golden years. Hosted by Kyle Hammerschmidt, this show dives into crucial topics like Social Security, retirement income strategies, and the decisions that can make or break your financial future.

In this episode, we cover:

The basics of Social Security: how it works and how to qualify.
The impact of claiming Social Security early vs. delaying benefits.
Spousal and ex-spousal benefits: what they are and how to maximize them.
The current state of Social Security and the projected 2035 trust fund depletion.
Taxes on Social Security benefits and strategies to minimize them.
Cost of Living Adjustments (COLA) and how inflation affects your benefits.
Tips for maximizing your retirement income with smart Social Security planning.
Whether you're just starting to think about retirement or you're nearing the finish line, Retire Ready equips you with the knowledge to make informed decisions and achieve financial peace of mind.

Planning your retirement starts now—tune in and take charge of your future!

Connect With Us: 
Website: https://mokanwealth.com/
Tik Tok: https://www.tiktok.com/@retirewithkyle
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Facebook: https://www.facebook.com/mokanwealth
Retire Ready Academy: https://retirereadyacademy.org/

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website

Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

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In this episode, Kyle dives into a critical yet often misunderstood aspect of retirement planning: the taxation of Social Security benefits. Many assume these benefits are tax-free, but the reality can be a costly surprise for retirees. Kyle breaks down the basics of Social Security taxation, explains how your income impacts tax thresholds, and shares actionable strategies to reduce your tax burden.

You'll learn how to calculate your "combined income," why up to 85% of your benefits might be taxable, and how federal and state rules can differ. Kyle also explores practical approaches like strategic withdrawals, Roth conversions, and the timing of benefits to help you keep more of your hard-earned income.

Whether you're nearing retirement, already retired, or planning ahead, this episode is packed with insights to help you make smarter financial decisions and safeguard your golden years. Tune in to gain the knowledge and confidence to maximize your Social Security benefits and minimize your tax liabilities.

Ready to take the confusion out retirement? Let’s dive in!

Connect With Us: 
Website: https://mokanwealth.com/
Tik Tok: https://www.tiktok.com/@retirewithkyle
Instagram: https://www.instagram.com/retirewithkyle/
Facebook: https://www.facebook.com/mokanwealth
Retire Ready Academy: https://retirereadyacademy.org/

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website

Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

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Podcast Description:

In this episode of Retire Ready with Kyle Hammerschmidt, we’re tackling one of the most critical steps in your retirement journey: applying for Social Security benefits. Whether you're planning to claim at 62, hold out until 70, or fall somewhere in between, this episode has you covered with actionable advice.

Kyle breaks down the application process step-by-step, including how to gather the right documents, decide whether to apply online or in person, and track your application once it’s submitted. You’ll also learn how to time your first benefit payment, weigh the pros and cons of withholding taxes, and navigate key decisions that could maximize your benefits.

With relatable stories, helpful examples, and Kyle’s signature straightforward style, this episode demystifies Social Security and helps you make informed choices that align with your unique retirement goals.

Ready to take the confusion out of Social Security? Let’s dive in!

Connect With Us: 
Website: https://mokanwealth.com/
Tik Tok: https://www.tiktok.com/@retirewithkyle
Instagram: https://www.instagram.com/retirewithkyle/
Facebook: https://www.facebook.com/mokanwealth
Retire Ready Academy: https://retirereadyacademy.org/

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website

Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

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In this week’s episode, host Kyle Hammerschmidt dives into a detailed case study of "John and Mary," a married couple from Kansas, both aged 59, preparing to retire in five years.  

Kyle breaks down their financial landscape, including $1.7 million in tax-advantaged retirement accounts, Social Security strategies, and their goals of maintaining their current lifestyle while minimizing lifetime tax burdens. From restructuring investments to navigating Roth conversions, this episode offers valuable insights for pre-retirees aiming to secure their financial future.  

If you're curious about balancing growth, income, and market volatility in your retirement portfolio, or wondering how to make Social Security decisions that fit your plan, this episode is packed with actionable advice.  

Connect With Us: 
Website: https://mokanwealth.com/
Tik Tok: https://www.tiktok.com/@retirewithkyle
Instagram: https://www.instagram.com/retirewithkyle/
Facebook: https://www.facebook.com/mokanwealth
Retire Ready Academy: https://retirereadyacademy.org/

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website

Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

Send us a text

Planning for retirement is a journey, and choosing the right financial advisor is one of the most critical decisions you'll make. In this episode of Retire Ready, host Kyle Hammerschmidt unpacks the essentials for finding the perfect advisor to guide you through the complexities of retirement planning.  

🔑 What You'll Learn: 
- The Six-Point Checklist:
  - Fee-only financial advisors and why their transparency matters.  
  - The importance of independence for unbiased advice.  
  - Fiduciary duty and its impact on your financial future.  
  - Tax-focused planning to minimize your retirement tax burden.  
  - Tailored strategies designed for your unique financial goals.  
  - Why your advisor's age and specialization make a difference.  
- Actionable Tips: How to evaluate potential advisors and align their expertise with your retirement needs.  
- Real Insights: Examples and explanations to help you navigate the "decumulation phase" with confidence.  

Whether you're within 10 years of retirement or on the cusp, this episode equips you with the knowledge to secure your financial future.  

Connect With Us: 
Website: https://mokanwealth.com/
Tik Tok: https://www.tiktok.com/@retirewithkyle
Instagram: https://www.instagram.com/retirewithkyle/
Facebook: https://www.facebook.com/mokanwealth
Retire Ready Academy: https://retirereadyacademy.org/

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website

Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

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In this episode, Kyle dives into a real-world retirement planning case study featuring a pre-retiree couple in their early 60s with diverse income streams, including Social Security, pensions, rental income, and investments. This discussion addresses three main concerns: maximizing Social Security, implementing a strategic Roth conversion plan, and developing an efficient withdrawal strategy. 

Kyle highlights how the couple’s financial choices—such as delaying Social Security, leveraging Roth conversions, and adjusting spending based on market performance—will impact their financial security over time. 

Tune in to learn how these strategies are customized to balance income needs, manage taxes, and build flexibility for future adjustments. This episode is packed with insights on how to prepare for early retirement, navigate market fluctuations, and support long-term goals, making it a must-listen for anyone approaching retirement.

Connect With Us: 
Website: https://mokanwealth.com/
Tik Tok: https://www.tiktok.com/@retirewithkyle
Instagram: https://www.instagram.com/retirewithkyle/
Facebook: https://www.facebook.com/mokanwealth
Retire Ready Academy: https://retirereadyacademy.org/

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website

Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

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In this episode, we’re diving into a topic that’s going to impact everyone’s finances in the coming year: the new 2025 federal income tax brackets. The IRS recently announced adjustments to the tax bracket ranges to keep up with inflation, helping taxpayers avoid "bracket creep" — the phenomenon where inflation alone pushes you into a higher tax bracket without any real gain in purchasing power.

We’ll break down what these changes mean for different income levels and compare them to 2024’s brackets. Plus, we’ll explore updates to the standard deduction, which could significantly affect your taxable income. And looking ahead, we’ll discuss the upcoming sunset of the Tax Cuts and Jobs Act and its potential effects on tax rates.

By the end of this episode, you’ll have a clear understanding of how these adjustments could affect your take-home pay, retirement planning, and overall tax strategy. Tune in to get informed and empowered to make smart decisions in the evolving tax landscape.

Sources:
https://www.thetaxadviser.com/issues/2023/dec/tax-planning-for-the-tcjas-sunset.html

https://www.kiplinger.com/taxes/new-income-tax-brackets-are-set

Connect With Us: 
Website: https://mokanwealth.com/
Tik Tok: https://www.tiktok.com/@retirewithkyle
Instagram: https://www.instagram.com/retirewithkyle/
Facebook: https://www.facebook.com/mokanwealth
Retire Ready Academy: https://retirereadyacademy.org/

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website

Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

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In this episode, we explore essential retirement strategies through a real-life case study. Topics include:

• Crafting a sustainable retirement income plan
• Roth conversion strategies and how they can benefit retirees
• Maximizing Social Security to enhance income
• Tax-efficient withdrawal strategies for lasting savings
• Navigating retirement income guardrails to minimize risk
• Aligning financial goals with a tailored retirement plan

Whether you're preparing for retirement or already retired, this episode is filled with insights to help secure your financial future and achieve peace of mind.

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website

Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.