Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®

By Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®Business News Investing Business News Careers

Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP® episodes

November 16, 2023The Early Years of Retirement: Navigating Healthcare, Finances, and Tax Strategies
On this episode, we dive into real-life scenarios to gain insight into crafting a successful and early retirement plan. Hear Tyler Emrick, CFA®, CFP®, dissect a client's journey of retiring in their late 50s. Exploring the intricacies of their tax-smart distribution plan to fund their retirement lifestyle and obtained significant tax credits to offset their pre-Medicare healthcare costs.

Here’s some of what we discuss in this episode:
Background on a real-life scenario with a family we met a few years ago.
What we learned about the challenges to their retirement, including healthcare.
The different healthcare decisions to choose from and the costs most aren’t prepared for.
Places you can trip up with healthcare.
How we approach the distribution planning.

Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth
32 min
October 26, 2023Yearend Financial Check-up & Tax Moves
It's that time of year again … the fourth quarter. Before you get enthralled with the holiday season, it's time to look back over this year and towards the next. Have you completed all the financial goals you set this year? Reviewed your medical coverage? Executed your tax planning for the year? Set your preliminary tax strategy and retirement distribution plan for next year? If not, there is still time!
Listen to Tyler Emrick, CFA®, CFP®, discuss how True Wealth Design ensures your important financial tasks get handled so you stay on track and pay no more than your fair share in tax.

Here’s some of what we discuss in this episode:
Prioritizing tax planning and determining what items need attention before December 31.
What we discuss during our Yearend Tax and Investment Review meetings.
Looking back on your financial goals at the beginning of the year and comparing that to where you are now.
Why you should be taking a closer look at your benefits for the next year.
Looking at spending for the next year and setting income targets.

Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth
26 min
October 12, 2023Retirement Nest Egg: Having Enough & Making Sure It Lasts
The emotions and questions seem to come from everywhere and out of nowhere as you inevitability approach retirement. Even the most prepared will ask, second guess, and then ask again: Do I have enough to retire? How do I ensure it lasts?

Leading retirement researcher Moshe Milevsky addressed this in a paper "How Long Will a Nest Egg Last." In this episode, Tyler Emrick, CFA®, CFP®, takes a different approach to try and answer that critical question. Hear Tyler give actionable steps in plain English that you can help build confidence and clarity around your retirement nest egg.

Here’s some of what we discuss in this episode:
Breaking down the equation and identifying areas we agree and disagree.
How many years can you make withdrawals before running out of money?
What are the variables you know and don’t know and how do you account for both?
The importance of a diversified portfolio when trying to generate a rate of return each year.
Rarely is there a single product or investment that meets your needs for all of retirement.

Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth
34 min
September 28, 2023Avoid Losing $17K Yearly From Bad Investment Decisions
Surprise! Another robust study showed investors are still underperforming and making bad investment decisions. Morningstar released its yearly "Mind the Gap" study last month, showing investors have lost on average 1.7% yearly -- that's $17,000 on a $1,000,000 portfolio -- over the last decade. Why so and how can we stop the madness?!
In this episode hear Tyler Emrick, CFA®, CFP® break down the study's results and describe how True Wealth helps families not make the same mistakes as the average investor.
Click to read Morningstar's Mind the Gap study: https://www.morningstar.com/lp/mind-the-gap

Here are some of the things we will discuss in this episode:
Background on the ‘Mind the Gap’ study from Morningstar.
The study found a 1.7% gap from average investor to the average fund return.
Timing the market costs investors regular and the data from the last four years shows that.
There’s always a new reason to give us the belief that we can time the market.
The illusion of control bias can lead people to believe they have more control over the outcome than they actually do.

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

Or use this link: http://bit.ly/calltruewealth

Learn more about the Retire Smarter Solution™: https://www.truewealthdesign.com/ep-45-retire-smarter-solution/
26 min
September 14, 2023Should Retirees Change Their Portfolio Strategy Based On Predictions of the US Dollar’s Demise?
Here it comes again… F. E. A. R. This time manifest from headlines of the U.S. dollar’s demise as a reserve currency, spiraling inflation, low growth and an expressway to investment-return hell.

Listen to Kevin Kroskey, CFP®, MBA cut through the B.S. to understand what the economic risks are or are not and how they do or do not translate to your investment strategy.

Here are some of the things we will discuss in this episode:
The questions we’ve been getting from clients about the headlines on the US dollar’s demise.
What are the biggest concerns and risks that exist currently?
We’ll sort through the historical evidence on the dollar.
Which investments would respond favorably in this environment?
We’ll explain why we think this is largely a non-issue for well-diversified investors.

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

Or use this link: http://bit.ly/calltruewealth

Learn more about the Retire Smarter Solution™: https://www.truewealthdesign.com/ep-45-retire-smarter-solution/
22 min
August 31, 2023How Tax-Smart Income Targeting Can Allow You To Retire Earlier While Saving Taxes
Hear Tyler Emrick, CFA®, CFP®, peel back the onion on income targeting – a critical part of a successful retiree’s overall Tax-Smart Distribution Planning. Learn how this type of planning, coupled with careful “Asset Location” decisions, can save a lot in tax over a multitude of years, allowing you to potentially retire earlier, spend more, or give more.
And be sure to pay attention to how True Wealth uses these strategies to benefit clients no matter what, whether they are still working or already in retirement.

Here are some of the things we will discuss in this episode:
Why we want to get into this idea of income-targeting in this show.
What exactly do we mean when we say income-targeting and how does that help us build a savings strategy.
Looking at the scenario where a family put most of their assets in pre-tax accounts.
The tax benefits that you could gain by going through all of this.
The complexities that comes with a family that has more of their assets outside of retirement accounts.
What kind of income are we going to target when we do this?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth
Learn more about the Retire Smarter Solution™: https://www.truewealthdesign.com/ep-45-retire-smarter-solution/
35 min
August 10, 2023Income Targeting - Should We Even Care About IRMAA?
It's often beneficial to target income for tax planning purposes while working and even more so during your retirement years when you have more control over how you generate your income. Realizing income in lower brackets while avoiding higher brackets is the essence of this strategy which can quickly get complex.
In this episode, Tyler Emrick, CFA®, CFP®, reviews a recent article from Dr. James M. Dahle of the popular "The White Coat Investor" blog and podcast that suggests planning for the Medicare IRMAA surcharge doesn't matter. Hear Tyler discuss IRMAA and its impact on your tax-smart retirement income planning. And be sure to pay attention to the broader framework of how to think about income targeting, which we'll dive into in more detail in an upcoming episode.
See the reference article from Dr. James M. Dahle of the White Coat Investor here: https://www.whitecoatinvestor.com/irmaa

Here are some of the things we will discuss in this episode:
What is IRMAA and how does it work?
What parts of Medicare does this impact?
Details on the different thresholds.
The different planning discussions we have with people as we look at specific scenarios.

Check out our previous discussions on Medicare:
Retiree Health Insurance Part 1: Medicare - https://www.truewealthdesign.com/ep-58-retiree-health-insurance-part-1-medicare/
Retiree Health Insurance Part 2: Pre-Medicare - https://www.truewealthdesign.com/ep-59-retiree-health-insurance-part-2-pre-medicare/

Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth
27 min
July 27, 2023Do You Have Unrealistic Portfolio Return Expectations?
In this episode, Tyler Emrick CFA®, CFP® explores the disconnect between some investors' return expectations. Learn common mistakes people make and traps they may then fall into.
And be sure to pay attention to what historical performance tells us, and how, if the forecasts of the big institutional investors are reasonably accurate, these investors could be setting themselves up for severe disappointment.

Here are some of the things we will discuss in this episode:
Why expectations are almost always higher than what reality provides. (5:30)
We use a historical perspective to help clients understand what returns have typically looked like in previous decades. (10:27)
Looking ahead and setting expectations for future returns. (16:07)
Return expectations can be vastly different depending on who you talk to. (20:09)
How to determine what approach you should take to investing. (24:40)

Sign up for our newsletter on our podcast page: https://www.truewealthdesign.com/podcast/

Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth
28 min
July 13, 2023What’s The Big Deal With Roth Conversions And Why Should You Care?
In this episode, Tyler Emrick CFA®, CFP® talks through the financial impacts of implementing a well-thought-out Roth conversion strategy. Hear how his clients overcame the emotional struggle of paying a large upfront tax bill to build wealth and provide better outcomes for themselves and their families.

Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth

Here are some of the things we will discuss in this episode:
How a Roth conversion can protect your spouse’s future. (3:28)
How legacy planning and inheritances can benefit from a Roth conversion. (8:39)
A recent scenario we worked through with a client when determining inheritance plans. (11:10)
Some of the factors that go into determining whether a Roth is right for you. (14:46)

Sign up for our newsletter on our podcast page: https://www.truewealthdesign.com/podcast/
20 min
June 29, 2023No More TINA - An Investment Update
There Is No Alternative or TINA has been used throughout history and is mostly strongly associated with the UK's Marget Thatcher. The phrase is used to signify Thatcher's claim that "the market economy is the best, right and only system that works, and that debate about this is over."
More recently, TINA was popularly used to describe the stock market in light of low interest rates and correspondingly low yield-based returns. There is no alternative to stocks. Hear Kevin Kroskey, CFP, MBA discuss why now that rates have had an unprecedented rise, it is time to say goodbye TINA and how this fits into your ever-evolving investment strategy and retirement plan.
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth
We also reference Episode 85 - What's A Conservative Investor To Do? Check it out at this link: https://www.truewealthdesign.com/ep-85-whats-a-conservative-investor-to-do-these-days/
Here are some of the key points from this episode:
Let's start with the why. Key questions analyzed with clients. (5:37)
Breaking down the first asset class bucket: preservation. Kevin covers credit, term and what you should know about the yield curve inversion. (14:25)
Kevin highlights the second asset class bucket: diversifying. He'll touch on private credit and corporate direct lending. The yields might surprise you in this category. (17:50)
The third asset class bucket: appreciation. You'll be more familiar with this one as we get into stocks, REITs and the like. Kevin explains the balance between value and profitability in this arena. (23:00)
Sign up for our newsletter on our podcast page: https://www.truewealthdesign.com/podcast/
35 min

About Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®

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Planning Retirement Smarter. Living Retirement Better. With Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP® of True Wealth Design. #Retire #Stocks #Investing #401k #IRA #CFP #TrueWealthDesign.…