Retirement Explained Show

Retirement Explained Show

By RasmussenAdvisors.comBusinessEducationInvestingHow To
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Retirement Explained Show episodes

  • 10 Tax Breaks for Individuals 50 Years of Older
    On the 36th episode of the Retirement Explained show, I’m talking about important tax breaks that are reserved for those of us who are 50 years old or older!
    Age before beauty folks and on today’s episode I cover the following:
    -Bigger standard deductions
    -Higher tax-filing thresholds
    -Property tax breaks
    -A special tax credit for the elderly or disabled
    -Additional IRA deductions
    -Additional 401k deductions
    -No more early withdrawal penalties!
    -Expanded qualified charitable distribution rules
    -Higher HSA contribution limits
    -Free tax help when filing your taxes
    32 min
  • Year-End Retirement Planning Deadlines for 2020
    On the 35th episode of the Retirement Explained show, I’m talking about how important year-end deadlines that are coming up quickly for 2020.
    A lot of the deadlines are surrounding your ability to deduct contributions against your taxes so you want to make sure you don’t miss the deadline…if you miss it, there’s usually no going back!
    When it comes year end deadlines, I cover the following:
    -Contribute to your 401(k) plan by Dec. 31.
    -Retirees can skip required minimum distributions for 2020.
    -Take coronavirus expense withdrawals by the end of the year.
    -Donate your IRA distribution to charity.
    -Qualify for the saver's credit.
    -More time for IRA contributions.
    38 min
  • How to Pick a Financial Advisor + 10 Questions to Ask Them
    On the 34th episode of the Retirement Explained show, I’m talking about how to pick a financial advisor and the ten questions to ask them.
    Picking a financial advisor is a big decision and you should have a process when interviewing advisors. It’s a lot like dating and you want to make sure you have an idea who you’re dealing with before you hand them your life savings.
    When it comes to picking a financial advisor, I cover the following:
    Figure out if you need a financial advisor
    Decide what services you need
    Select which type of advisor you want
    Get referrals from friends or the internet
    Check the financial advisor's credentials
    Interview multiple advisors
    -Brian
    1 hr 3 min
  • How To Withdraw Money Out Of Your Retirement Accounts
    On the 33rd episode of the Retirement Explained show, I’m talking about how to get your money out of your retirement accounts.
    You’ve been saving your money for years…decades and I want to talk to you about the ins and outs of how to get your money without paying extra taxes or paying penalties.
    Retirement accounts are basically investment accounts that the IRS have allowed for some tax sheltering. The laws and rules regarding these types of accounts are very nuanced and you don’t want to make a mistake when it comes to making a withdrawal. For instance, if you mess up taking your RMD, the penalty is 50%. You read that right…50%!
    However it’s all good because you’ll know everything you’ll need to know on today’s episode!
    30 min
  • What is a 529 Plan/College Account?
    On the 32st episode of the Retirement Explained show, I’m talking about 529 Plans and saving for college.
    College has become increasingly expensive and there have been some changes to the law regarding how 529 plans work so I’m excited to share with you some information about what these accounts are and how they work.
    31 min
  • How To Pick Stocks
    On the 31st episode of the Retirement Explained show, I’m talking about how to pick stocks.
    Picking stocks for your portfolio can be a tricky task and there has been a lot of research that shows that the average fund manager/investor doesn’t have much better success than a chimpanzee randomly picking stocks, but, with today’s episode I hope to give you some insight as to the how/why that has been the foundation of prudent and intelligent stock picking for the last hundred years or so.
    50 min
  • Have I Saved Too Much For Retirement?
    On the 30th episode of the Retirement Explained show, we discuss a situation that might seem counterintuitive but can be a problem if not addressed: saving too much money for retirement (or any other financial goal)
    We discuss a case study with a client we worked with recently to give you some insight as to what can happen when you’re saving money like a maniac, but not doing it with precision and per a well designed financial plan.
    Don’t get us wrong, it’s a good problem to have! But we can avoid unnecessary taxes, etc by planning a little bit better.
    41 min
  • Things To Do When You're In Debt
    On the 29th episode of the Retirement Explained show, I discuss how what you should be doing when you’re in debt.
    A large part of building your wealth and creating financial security for you and your family is debt; if you have it, how you’re dealing with it, and it most cases, a person with no/little debt are much more financially secure than those without it.
    Consider your personal financial situation as if you were a business and you were the CEO of You, inc. Businesses maximize profits by either increasing sales or reducing expenses or both. We can literally create a more profitable 'you' by lowering your expenses and one of the largest expenses that people have are tied to their debts, auto loans, credit card loans, medical loans, etc.
    On this episide I discuss ways you can approach paying off your debts so that you can be wealthier, happier, and retire faster than if you were to ignore it.
    33 min
  • The Power of Meaning: 8 Online Business Ideas for Retirees
    On the 28th episode of the Retirement Explained show, I discuss how starting an online business in retirement help you retire earlier and feel happier in retirement.
    Working during your early retirement years on something you’re an expert/passionate about can help you retire early by providing an income stream to help bridge the gap between your 9-5 job and a life of financial freedom.
    It can also help address shrinking social circles that’s an all too common once a person retires; many of our friendships and social relationships come vis-a-vis our work so it’s important to address replacing those relationships if/when they begin to naturally fade away.
    The beauty of retirement is the freedom that comes with it, whether it’s golfing, drinking wine, spending time with family, pursing something you love/passionate about, or spending your time doing what you’re good at, but on your terms and without a boss telling you what to do!
    52 min
  • How to Use Home Equity in Retirement
    On the 27th episode of the Retirement Explained show, I’m talking about how to use your home equity in retirement.
    A significant portion of a person’s net worth is made up through the value of their homes and I think that a part of a good financial plan should consider the equity in your home when it comes to planning for retirement.
    In this episode, I discuss what is home equity, and the four ways to utilize it in a way that will help you to retire early and/or retire better.
    I discuss how you can downsize and invest the remaining funds, you can sell your home and move to a cheaper location, I discuss reverse mortgages, and what home equity lines of credits are.
    24 min

About Retirement Explained Show

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This is NOT your average financial podcast. We give you honest and unfiltered real talk about important financial topics.