Retired-ish

Estate planning in retirement can be a daunting task. The problem is that most of us put off this aspect of retirement planning because it doesn't raise an immediate need. The truth is that estate planning is much more than a will and trust and can have a dramatic effect on your legacy, for better or worse. In this episode we discuss what estate planning is, and the little things you can do to pass a meaningful legacy to your family.

More specifically, I discuss:

• What is estate planning?
• What does a well-thought-out estate plan look like?
• What are the common components of an estate plan?
• Estate planning tips you never thought of
• Identifying what you want your legacy to be
• Identifying the ultimate PURPOSE of your wealth

Resources:

Get Show Notes Here Free Retirement Analysis for Ages 50+ Retired-ish Newsletter Sign-Up

Roth conversions are a great strategy that you can use to help build up your "tax-free" bucket in order to provide you with more flexibility in retirement. Having more tax-free money can help you avoid tax time-bombs, maintain some control of your taxable income in retirement, or even be used as an excellent legacy to pass down to heirs.

More specifically, I discuss:

• Our upcoming "Retirement Planning Today" classes in February 2023
• The main differences between a Roth IRA and Traditional IRA or other pre-tax account
• What is a Roth conversion?
• What are the main reasons to consider doing a Roth conversion?
• Pitfalls to look out for when doing a Roth conversion
• Strategies on how to pay potential taxes owed on a Roth conversion

Resources:

• Get Show Notes Here
• Free Retirement Analysis for Ages 50+
• Retired-ish Newsletter Sign-Up

Medicare is a daunting program to understand for most retirees. In this episode we break down the different components and additional coverage options in layman's terms. Having a good understanding of the different options and various costs components can provide you with more confidence in your healthcare plan during retirement.

More specifically, I discuss:

• What is Medicare, and what are the main components
• What does Medicare pay for?
• What types of additional coverage are available? What are the costs?
• The difference between Medicare Advantage Plans (Part C) and Medicare Supplement Plans (Medigap), and some of the pros and cons of each.
• What factors should you consider when making coverage decisions?

Get Show Notes and Resources Here https://retiredishpodcast.com/9

The greatest threat to your life savings is lurking in the shadows ready to strike when you least expect it. This threat presents itself when going from saving to spending your retirement nest-egg - which is nerve wracking for a new retiree. This phase of your financial journey is far more complicated than simply putting money away year-in and year-out and is susceptible to major threats such as sequence of returns risk.

More specifically, I discuss:

• What is the greatest threat to your retirement savings?
• Examples of sequence of returns risk in the savings phase of your life
• Examples of sequence of returns risk in the spending phase of your life
• The difference between monitoring account balances vs. average investment returns
• What types of strategies can you implement to aim to reduce sequence of returns risk

For the links and extras mentioned in the episode, please visit the show notes page at https://RetiredishPodcast.com/8

Retired-ish Newsletter Sign-Up Get Show Notes Here

There are many nuanced factors to consider when creating a retirement investment portfolio. In this episode I go over some of the more important foundational building blocks, and how to begin the process of creating a retirement portfolio for you.

More specifically, I discuss:

• Identifying a specific purpose for your different accounts, based on your financial plan
• Factoring in personal preferences when determining your portfolio allocation
• The goal of diversification
• Types of asset allocation
• Asset location and practical use cases

For the links and extras mentioned in the episode, please visit the show notes page at retiredishpodcast.com/7

• Retired-ish Newsletter Sign-Up
• Roth 5-Year Rules

Financial markets are scary… and we humans make decisions largely based on our current emotions. Mixing those two things together, and you get a toxic concoction.

Investing should be based upon us acting on our own rational and intellectual thoughts, but it hardly ever is… So rather than staring at markets and making emotional decisions, what can we actually do to better the outcomes of our financial situations?

More specifically, I discuss:

• How to "check yourself" when markets are volatile and declining
• What investments you probably shouldn't have
• Using bad markets to get rid of tax inefficient investments
• Recency bias
• Buy out the government's share of your retirement account at a lower cost
• How to take less risk going forward in order to pursue your retirement income goals
• Buy low, sell high

For the links and extras mentioned in the episode, please visit the show notes page at retiredishpodcast.com/6

Taking the proper steps early to prepare yourself for one of life's biggest transitions can alleviate much unwanted stress and…save you money.

In this episode I continue the conversation on taxes and how they can be paid in retirement, what to do with your retirement accounts when you retire, and some tips to help you make healthcare decisions around retirement.

More specifically, I discuss:

• Estimated tax payments and withholdings in retirement
• How to make estimated tax payments in retirement
• Retirement plan rollovers, cashing out, and direct rollovers from 401(k) plans to IRAs and Roth IRAs along with some pros and cons of doing so
• The greatest risk to your retirement nest egg: "Sequence of Returns Risk"
• The healthcare marketplace, COBRA, and Medicare
• Accumulated vacation/sick pay and year-end bonuses from your employer

For the links and extras mentioned in the episode, please visit the show notes page at retiredishpodcast.com/5

• Podcast: Preparing for Retirement Pt. 1
• Retired-ish Newsletter Sign-Up
• Roth 5-Year Rules
• How to Make Estimated Payments Online
• Do I Need to Make Estimated Payments Flowchart - 2022
• Blog: "Sequence of Returns: The Greatest Risk to Your Retirement Savings"
• Will Healthcare change as I transition into retirement? - 2022
• If I retire early, should I buy health insurance through the health insurance marketplace?
• Social Security withholding form – W-4V

Cameron Valadez and Planable Wealth are not affiliated with or endorsed by the U.S. Social Security Administration or any government agency. The Social Security Administration provides free Social Security forms, publications and assistance.

Taking the proper steps early to prepare yourself for one of life's biggest transitions can alleviate much unwanted stress and…save you money.

The first step in preparing for retirement is determining if you are actually ready. In this episode I go over what you can do to determine your retirement readiness along with a host of other important financial planning considerations.

More specifically, I discuss:

• "Practicing" retirement
• The importance of an emergency fund specifically for retirees, and how to structure it
• Cash savings ideas to implement tax savings strategies while in retirement
• Various types of retirement income, and how to structure them to meet your needs
• Understanding YOUR tax situation in retirement, and how taxes affect your income sources

In part 2 of the Preparing for Retirement series we will continue the discussion with:

• Tax withholding on retirement income sources
• What to do with retirement accounts
• Healthcare in retirement and Medicare
• Managing expenses in retirement and tips to reduce them
• The timing implications of your retirement from the workforce and last minute considerations

For the links and extras mentioned in the episode, please visit the show notes page at https://retiredishpodcast.com/4

• Retired-ish Newsletter Sign-Up: https://lp.constantcontactpages.com/su/VjiTbE7/retiredish
• Checklist - What Issues Should I consider Before I Retire 2022: https://www.planablewealth.com/wp-content/uploads/2022/01/What-Issues-Should-I-Consider-Before-I-Retire-2022.pdf
• 5 Advantages of a Roth IRA: https://www.planablewealth.com/blog/retirement/5-advantages-roth-ira
• Roth 5-Year Rules: https://www.planablewealth.com/blog/retirement/roth-ira-and-roth-401k-5-year-rules

Let's go over two little known Social Security strategies and the long-term implications of each.

In this episode, I discuss why Social Security is paying out lump sum payments to retirees and the pitfalls of taking the payment, as well as a strategy to tap into benefits early and rebuild them later.

I also review tax and estate planning issues that may be caused as a result of implementing these strategies, and where they can make sense to take advantage of.

For the links and extras mentioned in the episode, please visit the show notes page at https://retiredishpodcast.com/3

Retired-ish Newsletter Sign-Up: https://lp.constantcontactpages.com/su/VjiTbE7/retiredish

Find your Full Retirement Age: https://www.ssa.gov/benefits/retirement/planner/ageincrease.html

Retroactive Benefits: https://secure.ssa.gov/poms.nsf/lnx/0501130600

Social Security Payment Withholding Form W4-V: https://www.ssa.gov/benefits/retirement/planner/taxwithold.html

Episode #2: How to use tax gain AND loss harvesting to your advantage. If done appropriately, tax gain/loss harvesting can help you reduce taxes, thereby keeping more money in your pocket which can help you increase your net worth! More specifically, I discuss: Tax loss harvesting with examples Tax GAIN harvesting with examples Capital gains and losses When it's a good idea to implement this tool Common pitfalls to avoid when tax harvesting is implemented What is a capital loss carry-forward and how to use it

For the links and extras mentioned in the episode, please visit the show notes page at https://retiredishpodcast.com/2

How Capital Gains Tax Works https://www.planablewealth.com/blog/tax-planning/how-capital-gains-tax-works

2022 Important Numbers https://www.planablewealth.com/wp-content/uploads/2021/11/2022-Important-Numbers.pdf