Discover more retirement tax saving strategies in the complimentary Retire Your Way Toolkit - https://merkleretirementplanning.com/toolkit/

Register for the next Journey to Retirement online workshop to take the first step in your retirement journey - https://merkleretirementplanning.com/workshops/

Retirement is a mindset shift – EVERYTHING changes including the way you should think about taxes. In this episode of Retiring Today, Loren Merkle and Chawn Honkomp discuss how taxes in retirement can be different than taxes in your working years. They help you understand how you can begin to calculate what you may be taxed throughout your retirement and demonstrate tax strategies that can help you lower your tax bill in retirement

Loren Merkle, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®

https://merkleretirementplanning.com/staff-members/loren-merkle/

Chawn Honkomp, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®, CPA®

https://merkleretirementplanning.com/staff-members/chawn-honkomp/

Molly Nelson, Host of Retiring Today

https://merkleretirementplanning.com/staff-members/molly-nelson/

Chapters

00:00 Rethinking Taxes in Retirement

04:48 What You Can Control with Your Taxes in Retirement

10:52 How to Calculate Your Social Security Tax Rate

20:50 Retirement Accounts: Taxed vs. Tax-Free

25:08 The Power of a Comprehensive Retirement Plan

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This video does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Merkle Retirement Planning LLC, Elite Retirement Planning LLC, MRP Insurance LLC, or any other third party regardless of whether such security, product or service is referenced in this episode. Furthermore, nothing in this episode is intended to provide tax, legal, or investment advice and nothing in this episode should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Merkle Retirement Planning, LLC does not represent that the securities, products, or services discussed in this episode are suitable for any particular investor. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

Learn more about how to retire confidently by downloading the complimentary Retire Your Way Toolkit - https://merkleretirementplanning.com/toolkit/

Register for the next Journey to Retirement online workshop - https://merkleretirementplanning.com/workshops/

Retirement can be an exciting and stressful time in your life. In this episode of Retiring Today with Loren Merkle we help you understand how to build confidence in your retirement vision by detailing three ways you can overcome your fear of running out of money in retirement. Loren Merkle and Chawn Honkomp explain how retirement strategies such as analyzing your social security options and creating a retirement budget can help ease your retirement worries.

Loren Merkle, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®

https://merkleretirementplanning.com/staff-members/loren-merkle/

Chawn Honkomp, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®, CPA®

https://merkleretirementplanning.com/staff-members/chawn-honkomp/

Molly Nelson, Host of Retiring Today

https://merkleretirementplanning.com/staff-members/molly-nelson/

Chapters

00:00 The Causes of Retirement Fear

04:34 Electing Social Security

06:02 Tax Savings in Retirement 06:52 Building a Retirement Investment Inventory

10:46 How Much You Need for Your Retirement Lifestyle

11:27 How to Make a Retirement Budget

16:51 The Importance of a Budget in a Comprehensive Retirement Plan

17:38 How to Make a Retirement Plan

20:13 The Psychology of Retiring

24:22 Starting Your Retirement Journey

This video does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Merkle Retirement Planning LLC, Elite Retirement Planning LLC, MRP Insurance LLC, or any other third party regardless of whether such security, product or service is referenced in this episode. Furthermore, nothing in this episode is intended to provide tax, legal, or investment advice and nothing in this episode should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Merkle Retirement Planning, LLC does not represent that the securities, products, or services discussed in this episode are suitable for any particular investor. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

Are you worried about having a plan in place when you pass? Schedule your 15 Minute Retirement Check-Up Call to talk with a retirement planner at ⁠MerkleRetire.com⁠

ABOUT THIS EPISODEDo you think you have to work until 65 because of the high cost of health care? Maybe not. In this episode, we discuss how you can reclaim your retirement! Medicare Director AnnaMarie Morrow runs the numbers to show you what it could look like if you retire early and gives you some ideas about how to pay for health care. Plus, we talk about why you can’t “set it and forget it” when it comes to Medicare decisions and why you can’t ignore the high cost of long-term care.

AnnaMarie Morrow, Director of Medicare

Molly Nelson, Host of Retiring Today

Richelle Smith, Producer of Retiring Today

Don’t wait! Have a plan in place and DOWNLOAD your Succession Plan Checklist now at SuccessionChecklist.com

Are you worried about having a plan in place when you pass? Schedule your 15 Minute Retirement Check-Up Call to talk with a retirement planner at ⁠MerkleRetire.com⁠

ABOUT THIS EPISODE

When it comes to planning for retirement – we preach being prepared – and we emphasize “act now.” Your end of life is no different. Plan now for yourself and for your loved ones. Special guest Ryan Fredregill of Celebrate Life Iowa stresses the importance of having a plan for your funeral for when you pass and the best way you can accomplish that.

Ryan FredregillCelebrate Life IowaCelebrateLifeIowa.com(515) 689-5522

Loren Merkle, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®

Molly Nelson, Host of Retiring Today

Richelle Smith, Producer of Retiring Today

Do you have more questions about retirement? Schedule your 15 Minute Retirement Check-Up Call to talk with a retirement planner at ⁠MerkleRetire.com⁠

ABOUT THIS EPISODE

Everything changes in retirement – including how you think about the legacy you want to leave behind. Find out which three legacy planning documents are often overlooked and how to make sure all of your ducks are in a row when it comes to what happens to you, your retirement savings, and your possessions.

Loren Merkle, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®

Molly Nelson, Host of Retiring Today

Do you have more questions about retirement? Schedule your 15 Minute Retirement Check-Up Call to talk with a retirement planner at ⁠MerkleRetire.com⁠

ABOUT THIS EPISODE

Whether this is your first year on Medicare or you’ve been on it for several years, you should take a look at your plan each year. In this rebroadcast we discuss how revisiting your coverage and supplement could save you money and prevent surprises when you visit the doctor or pick up a prescription.

AnnaMarie Morrow, Director of Medicare

Molly Nelson, Host of Retiring Today

Richelle Smith, Producer of Retiring Today

To schedule a 15 Minute Retirement Check up call go to MerkleRetire.com

ABOUT THIS EPISODE

Many Americans fear they will outlive their retirement savings. We discuss three ways to overcome your fear of running out of money in retirement – including often overlooked factors like inflation and taxes.

Loren Merkle, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®

Clint Huntrods, PhD

Molly Nelson, Host of Retiring Today

To schedule a 15 Minute Retirement Check up call go to MerkleRetire.com

ABOUT THIS EPISODE

We get a LOT of questions about Medicare during our online Journey to Retirement Workshops. In this rebroadcast, Merkle Retirement Planning Director of Medicare AnnaMarie Morrow, answers some of your most frequently asked questions to help you make sense of Medicare.

AnnaMarie Morrow, Director of Medicare

Molly Nelson, Host of Retiring Today

Jack Henry, Producer of Retiring Today

Get your retirement toolkit today! This complimentary toolkit includes a copy of Loren’s book Retire Your Way. Go to RetireYourWayToolKit.com To schedule a 15 Minute Retirement Check up call go to MerkleRetire.com

ABOUT THIS EPISODE

It may sound hard to believe, but a recent study finds many people fear retirement more than death. During this rebroadcast, we uncover what people fear most and discuss ways to face this phase more confidently.

Loren Merkle, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®

Clint Huntrods, PhD

Molly Nelson, Host of Retiring Today

Richelle Smith, Producer of Retiring Today

Do you have more questions about retirement? Schedule your 15 Minute Retirement Check-Up Call to talk with a retirement planner at ⁠MerkleRetire.com⁠

ABOUT THIS EPISODEA new phase of life requires a new perspective. Find out why you have to rethink taxes and retirement and what you can do right now to get to put yourself in a better position to retirement.

Loren Merkle, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®

Molly Nelson, Host of Retiring Today

Jack Henry, Producer of Retiring Today