RETIREMENT MADE EASY

What is the assumed life expectancy for retirement? What accounts can you open for your grandchildren? Should everyone follow the 60/40 rule? The questions have been rolling in! So in this episode of the Retirement Made Easy podcast, I'll answer some questions and give you a starting place for a conversation with your retirement planner.

• [3:09] Question #1: What is the assumed life expectancy for retirement?
• [6:22] Question #2: Why not follow the 60/40 rule for investments?
• [12:01] Question #3: Should you use numerous professionals—or one?
• [15:38] Question #4: What accounts can you open for grandchildren?

• 3 Steps to Retirement Planning

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Where do you want your assets to go when you're no longer here? I know it may seem morbid, but this is an important part of retirement planning that most people neglect. But the heart of the matter is your family. What do you want to leave behind? Or do you want to leave money to your favorite charities?

Doing what I do for a living, I have these tough conversations every day. It's my job to make recommendations to make sure your wishes are carried out seamlessly and tax-efficiently. In this episode of the Retirement Made Easy podcast, I share the story of a couple who thought they had a great plan—until I started asking questions.

• [3:07] Check out RetirementMadeEasyPodcast.com!
• [3:51] Setting the stage: An 18-year-old plan
• [8:43] Splitting the retirement accounts
• [12:10] Splitting a home equally
• [14:44] Beneficiary planning for four children

• 3 Steps to Retirement Planning

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In 2019, there were 61.5 million people on Medicare. By 2027, it's estimated that 75 million Americans will be on Medicare. That's just four years from now. The #1 reason that people push off retirement is because health insurance is too expensive. Do you know what you'll be paying for health insurance when you retire and get on Medicare?

Medicare is multi-faceted. It can be complicated to understand. So in this episode of Retirement Made Easy, I'll break down the very basics of Medicare planning to help you make a more informed decision about your retirement.

• [3:47] Submit a question at RetirementMadeEasyPodcast.com
• [6:05] Understanding the basics of Medicare Part A & B
• [8:28] Calculating your Medicare Part B premium
• [11:59] Medicare Part C: Medicare Advantage vs. Medicare Supplement
• [14:48] Medicare Part D: Prescription drugs
• [15:44] How do you choose the right plan?
• [18:01] Make Medicare planning part of retirement planning

• 3 Steps to Retirement Planning

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How will things change for those saving for retirement in 2024? What is the estimated cost of living adjustment going to be? Do you think you're on track for a comfortable retirement? These are the questions I discuss in this episode of the Retirement Made Easy podcast. If you're planning for your dream retirement, these are things you need to know. Don't miss it!

• [1:37] Check out RetirementMadeEasyPodcast.com
• [2:20] Changes to the catch-up contribution in 2024
• [8:50] How much should you save for retirement?
• [12:45] The estimated cost of living adjustment for 2023
• [14:06] Are you on track for retirement?

• 3 Steps to Retirement Planning
• Ed Slott
• High-income retirement savers may have to pay tax now on catch-up contributions. Eventually.
• T. Rowe Price Says You Need This Much Saved For Retirement Based on Your Income
• Cost-of-Living Adjustment for 2024 Could Be 3.1%

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What will make or break your retirement plan? What makes a plan weak or unrealistic? What needs to be factored into the overall strategy? How do we build a great retirement plan? A retirement plan isn't just reviewing your investment statements. A far greater level of detail is required to make sure your dream retirement isn't just a dream—but a reality. So in this episode of Retirement Made Easy, I share a high-level overview of what we do to build a great retirement plan.

• [2:16] Why it's time to build/update your retirement plan
• [7:47] Check out RetirementMadeEasyPodcast.com
• [10:06] Addressing health insurance in retirement
• [13:48] Do you want to earmark funds for travel?
• [14:27] What are your goals and objectives?
• [16:22] Factoring inflation into your retirement plan
• [18:08] Your retirement plan needs to be customized to you
• [19:56] Do your investments align with your goals?
• [21:00] Where is your income coming from?
• [22:14] Making your retirement plan tax-efficient
• [23:25] Legacy, estate, and beneficiary planning

• 3 Steps to Retirement Planning
• The Retirement Story Everyone NEEDS to Hear, Ep #6

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Can you convert a beneficiary IRA to a Roth IRA? Can you roll a 401k into a 403B? What about alternative investments—are they worth the risk? The questions have been rolling in, so in this episode of the Retirement Made Easy podcast, I'm tackling some of the most asked questions I've received. Don't miss it!

• [4:19] Question #1: Can you convert an inherited IRA to a Roth IRA?
• [7:44] Question #2: Can you roll a 401k into a 403B?
• [12:45] Question #3: Are alternative investments risky?
• [15:49] Question #4: When do survivor benefits begin?
• [18:51] Question #5: Can a non-working spouse contribute to a Roth IRA?
• [20:38] Question #6: How does the gift tax exclusion work?

• 3 Steps to Retirement Planning
• Atomic Habits by James Clear

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I've had numerous people ask me about managing their income in retirement. Your income in retirement will be different from everyone else's, unique to you. But what sources can you draw from? What will it look like? How do you plan for it? Where can you go wrong? I'll start to dissect each of these topics in this episode of Retirement Made Easy. I'll lay out some of the important things you need to keep in mind as you manage your retirement income. Check it out!

#Retire #Retirement #RetirementPlanning #RetirementPlan #FinancialFreedom #investing #investments #DaveRamsey #SmartVestorPro

• [1:56] Check out RetirementMadeEasyPodcast.com!
• [4:25] The main source of retirement income: Social Security
• [6:34] Other common sources of retirement income
• [8:58] The most important retirement income source
• [12:00] Have a retirement income game plan
• [20:28] Create a tax-efficient retirement income stream

• 3 Steps to Retirement Planning

• Email at: [email protected]
• Podcast: https://RetirementMadeEasyPodcast.com
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Emotions are often the drivers of our financial decisions. This year we've seen record inflation. The Fed continues to raise interest rates. There is a banking crisis. Then there's the discussion of whether or not we're in a recession. Many people have wiped their savings and emergency funds and have held them as cash because they're worried their bank or credit union might fail. 2024 is another election year.

But a lot of this is noise. The market will always fluctuate because of numerous factors. As a financial planner, when short-term concerns arise, it's my job to remind people of the long-term goals they have. There will be numerous things per year that can throw us off course—if we react adversely. Listen to this episode of Retirement Made Easy to learn more about controlling your emotions when things get tumultuous.

• [6:49] Why you can't let short-term concerns derail long-term goals
• [9:42] Should you put money into CDs or money markets?
• [11:23] People make purchase and investment decisions based on emotions
• [15:52] Learn more about the bucket strategy for investing

• 3 Steps to Retirement Planning
• The Retirement Bucket Strategy

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Everyone is likely familiar with 401k plans and many people have them through an employer. But do you know anything beyond the very basics? Does your company offer a match (and do you know how it works)? Do you know how much your plan costs or what your balance is? In this episode of Retirement Made Easy, I'm going to start covering some of the ins and outs of 401k plans. My hope is that you'll gain a better understanding of something so important to a successful retirement.

• [0:35] Send me questions and ideas for future episodes!
• [4:35] The employer gets to determine 401k matching
• [9:44] The average 401k balance by age
• [12:14] Types of investment options in 401k plans
• [17:13] Why you shouldn't pull your money out of the market
• [19:18] The advantages of Roth 401ks/traditional 401ks
• [23:33] Consolidating or rolling over old 401k plans

• 3 Steps to Retirement Planning
• The Average 401k Balance by Age

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Tax planning is different when you're retired versus during your working years. It also changes from state to state. Some states are more tax-friendly than others. That's why many people retire in Florida, Tennessee, and Texas. Taxes matter in the decisions that we make. However, you can take tax planning too far. In this episode of the Retirement Made Easy podcast, I cover assessing the quality of your assets, why you can't let taxes dictate everything you do, and something to watch out for when you choose a financial planner.

• [4:45] Check out RetirementMadeEasyPodcast.com!
• [6:13] Assessing the quality of the assets that you own
• [13:34] How are your taxes going to be different in retirement?
• [15:55] We can't let taxes take over the driver's seat
• [19:00] Carefully chose who creates your retirement plan

• 3 Steps to Retirement Planning
• Scotty Kilmer's YouTube channel
• The Best—and Worst—States to Retire To, Ep #53

• Email at: [email protected]
• Podcast: https://RetirementMadeEasyPodcast.com
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