Retirement 360

Alan and Troy take a look ahead at what to expect for the bulk of this year, including what could happen with taxes, inflation and Social Security. Then they revisit how to craft a legacy plan specific to your family's needs and goals on passing things to the next generation.

Alan and Ashley Schneider discuss the needs of those with larger IRAs or 401Ks and how to craft a retirement plan that involves tax planning so you pay the lowest legal amount to Uncle Sam and keeping more of your nest egg in your own pocket.

What do some retirees regret about their planning? The number one issue according to a recent survey is not taking saving for retirement more seriously. Alan takes a look at the survey and how you can avoid some of the regrets many people have so that your retirement can be less worrisome. He also revisits downsizing for retirement as well as scams that continue to try to rob retirees of parts of their nest egg.

With the start of a new year, it's a good idea to look at what habits you might be doing to your finances that you might want to stop. Alan and Troy look at factors such as lifestyle creep and procrastination that could be taking away opportunities to grow your savings, and how to get a better handle on these things.

Alan and Troy take a look at the new Trump administration and discuss what could happen with taxes, government spending and other financial factors going forward. They also revisit how slow progress in your financial plan can help bring the kind of growth you need for your plan in the long run.

Taxes and inflation are huge threats to anyone's retirement, especially when these factors are not known and can change at any time. Alan and Troy discuss some strategies, including Roth conversions, that can help mitigate the effects of these factors. They also look at a master calendar for important dates for 2025.

Alan and Troy look at a recent study that indicates people would need some $4.4 million over their lifetime to achieve the traditional American Dream of owning a house, putting kids through college, etc. They also look at the growing federal debt picture and the likelihood of rising taxes to try and pay it off.

Ashley Schneider from the Mercurio office begins the program with a segment concerning certain scenarios of future retirees to determine if they are naughty or nice concerning their planning during this holiday season. Then Alan and Troy take over and review four keys for a solid retirement plan as well as reviewing timeless advice.

Alan takes a look at a recent AARP study which shows that 20% of adults age 50 and older have NO retirement savings, and taxes might go up to help compensate. Alan takes a further look at this study and delves into why saving and planning for retirement is so important. Later Troy joins him to go over things that should be on anyone's list for putting a retirement plan together, as well as answering listener questions.

Today Alan and Troy revisit the topic of how much it costs to attain the so-called American Dream lifestyle of a house, family, vacations and retirement, as well as a recent study which showed that cost to be around $4.4 million. Later they take a look at timeless advice from people through the years and how their quotes relate to retirement planning.