Secure Your Retirement

In this episode of the Secure Your Retirement Podcast, Radon and Murs discuss the life insurance-based hybrid long-term care solutions, building on their previous conversation about hybrid annuities. They explore the advantages of a hybrid approach, particularly focusing on the MoneyGuard Fixed Advantage policy as an example. Radon and Murs explain how this product offers both a death benefit and long-term care coverage, making it an attractive option for those looking to protect their assets and ensure care later in life.

Listen in to learn about the key features of hybrid long-term care insurance, including tax-free benefits and flexibility in coverage options. Radon and Murs also dive into how these policies can be structured to provide peace of mind without the worry of losing premiums, unlike traditional long-term care insurance. Whether you're considering annuities or life insurance, this episode helps clarify the potential benefits and drawbacks of each option.

In this episode, find out:

·      The differences between hybrid annuities and hybrid long-term care insurance policies.

·      Key features of the MoneyGuard Fixed Advantage policy.

·      How hybrid long-term care insurance can protect your assets and provide tax-free benefits.

·      Why flexibility and elimination periods matter in long-term care coverage.

·      A comparison of long-term care and death benefits within hybrid life insurance policies.

Tweetable Quotes:

·      "With hybrid long-term care insurance, you're not just buying coverage—you’re securing peace of mind for both you and your heirs." – Radon Stancil

·      "This is about transferring some of the risk for long-term care, giving you options without losing the money you’ve invested." – Murs Tariq

Resources:

If you are in or nearing retirement and want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

In this Episode of the Secure Your Retirement Podcast, Radon Stancil and Murs Tariq discuss hybrid long-term care insurance, with a focus on the Equitrust Bridge annuity and how it serves as a powerful tool for retirement planning. They explore the benefits of using hybrid annuities, a strategy that combines retirement income with long-term care coverage, offering a versatile solution for those concerned about managing future healthcare needs. In addition to breaking down how these products work, Radon and Murs also highlight the significant tax benefits they can provide, making them a valuable option for many retirees.

Listen in to learn about the key differences between traditional long-term care insurance and hybrid solutions, why hybrid annuities like the Equitrust Bridge stand out, and how to effectively use these financial products as part of a broader retirement planning strategy. Radon and Murs also offer guidance on the minimal underwriting requirements for these annuities and the options available even for individuals with health concerns.

In this episode, find out:

·      What hybrid long-term care annuities are and how they work.

·      Key features of the Equitrust Bridge annuity and its long-term care rider.

·      The advantages of hybrid solutions over traditional long-term care insurance.

·      How minimal underwriting allows greater accessibility to hybrid long-term care.

·      The substantial tax benefits associated with using annuities for long-term care.

Tweetable Quotes:

·      "This hybrid annuity is designed to give you the long-term care coverage you need, with the added benefit of keeping your money working for you." – Radon Stancil

·      "For those looking to bridge the gap in retirement planning, a hybrid annuity offers tax advantages and peace of mind for long-term care needs." – Murs Tariq

Resources:

If you are in or nearing retirement and want to gain clarity on what questions you should be asking, learn about the biggest retirement myths, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

In this Episode of the Secure Your Retirement Podcast, Radon and Murs sets the stage for the next two episodes, which will dive deeper into long term care options.

Listen in to learn about the changes in long-term care insurance over the past 20 years and why traditional policies are becoming less common. Discover alternative long-term care solutions, such as hybrid policies that combine life insurance or annuities with long-term care benefits, and understand the pros and cons of each approach. This episode provides a high-level overview to prepare you for more detailed discussions in future episodes.

In this episode, find out:

·      The issues with traditional long-term care insurance policies.

·      How hybrid policies involving life insurance and annuities can help with long-term care.

·      The pros and cons of long-term care insurance options.

·      The role of underwriting in long-term care policies.

·      How to evaluate whether to self-insure or buy long-term care insurance.

Tweetable Quotes:

·      “Long-term care planning isn’t fun to talk about, but it’s essential if you want to secure your future.” — Radon Stancil

·      “There are alternatives to traditional long-term care insurance, and it’s all about finding the best fit for your needs.” — Murs Tariq

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss the importance of understanding tax withholdings in retirement to avoid tax surprises. Unlike during your working years when taxes are automatically withheld from your paycheck, retirement requires a more strategic approach to managing taxes. To help navigate this complex terrain, they bring in Taylor Wolverton, a Certified Financial Planner and Enrolled Agent specializing in tax strategy. Taylor shares her expertise on how to adjust tax withholdings and make informed decisions to ensure smooth income flow during tax season.

Listen in to learn about how you can avoid unexpected tax bills or penalties by effectively managing your retirement tax withholdings. Taylor provides practical examples and shares real-life scenarios to demonstrate how different income sources, such as Social Security benefits, pensions, and investments, can impact your tax obligations. This episode is a must-listen for anyone looking to develop a robust retirement tax strategy and maintain financial peace of mind.

In this episode, find out:

• How to adjust your tax withholdings in retirement to avoid surprises and penalties.
• The impact of different income sources, including Social Security and pensions, on your tax obligations.
• Strategies for maintaining consistent cash flow and managing tax liabilities efficiently.
• Real-life examples and scenarios illustrating the importance of understanding tax withholdings.
• Tips on reviewing and adjusting tax withholdings annually to align with your changing financial situation.

Tweetable Quotes:

• "The power of understanding your withholdings is peace of mind—no surprises come tax time." — Radon Stancil
• "Adjusting withholdings isn't just a set-it-and-forget-it task; it's an annual review to ensure your tax strategy aligns with your retirement goals." — Taylor Wolverton, CFP, EA

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss the intricacies of Social Security retirement benefits and answer some of the most commonly asked questions. They break down key topics such as when and how to apply for Social Security benefits, understanding the taxation implications, and how to maximize your benefits.

Listen in to learn about the various factors you should consider when deciding when to apply for Social Security benefits, how Social Security benefits are calculated, and how different types of income, like IRA withdrawals, might impact your benefits. They also delve into common pitfalls to avoid and provide strategies for protecting yourself from Social Security scams. Whether you are just beginning to think about retirement planning or are already navigating the complexities of Social Security, this episode offers valuable insights to help secure your retirement.

In this episode, find out:

·      When and how to apply for Social Security benefits to maximize your payout.

·      The impact of taking Social Security benefits before full retirement age.

·      How different types of income affect your Social Security benefits.

·      Strategies to avoid common Social Security scams.

·      The importance of accurate income reporting for your Social Security record.

Tweetable Quotes:

·      "Social Security is something you only apply for once, so it’s crucial to get it right the first time." – Radon Stancil

·      "Income from your investments doesn’t count against your Social Security benefits, but earned income does." – Murs Tariq

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

In this episode of the Secure Your Retirement Podcast, Radon and Murs discuss the crucial topic of de-risking your investment portfolio as you approach retirement. As you get closer to this significant life milestone, the question of whether to become more conservative with your investments becomes more pressing. Radon, Murs, and guest certified financial planner Nick Hymanson explore various strategies to manage and reduce risk, emphasizing the importance of a personalized approach to retirement planning.

Listen in to learn about different types of risks that can affect your retirement, including market risk, sequence of returns risk, and longevity risk. The hosts also delve into practical steps you can take to protect your retirement income and ensure your investments are aligned with your goals as you transition from working life to retirement. With real-life client stories, this episode provides valuable insights on how to safeguard your financial future.

In this episode, find out:

·      The importance of understanding and managing market risk as you approach retirement.

·      How to protect your retirement income through strategic investment planning.

·      The benefits of diversifying your investment strategies, including the use of structured notes and fixed income.

·      Why having a personalized de-risking plan is crucial for your financial peace of mind.

·      Common pitfalls to avoid when de-risking your portfolio, especially in times of market volatility.

Tweetable Quotes:

·      "De-risking your portfolio is not about eliminating risk completely; it's about finding the right balance that aligns with your retirement goals." — Radon Stancil

·      "A well-constructed retirement plan can help you navigate market risk, inflation, and longevity with greater confidence." — Murs Tariq

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss the essential rules and considerations surrounding your 401K as you approach and surpass the age of 50. Age 50 is a pivotal milestone when it comes to retirement planning, with key changes in contribution limits, withdrawal rules, and rollover options that can significantly impact your financial strategy. Understanding these rules can help you optimize your retirement savings and avoid costly mistakes. 

Listen in to learn about the benefits of catch-up contributions, how to navigate the complex rules for 401K withdrawals after age 50, and the strategic opportunities available for Roth IRA conversions. Radon and Murs provide actionable insights to help you make informed decisions, ensuring your retirement documents are up-to-date and aligned with your financial goals. 

In this episode, find out: 

• The significance of catch-up contributions for those 50 and older. 
• Key withdrawal rules after age 59 ½ and how to avoid penalties. 
• How to take advantage of the age 55 rule if you plan to retire early. 
• The benefits and considerations of rolling over a 401K to a Roth IRA. 
• The importance of reviewing and updating beneficiary designations in your retirement accounts. 

Tweetable Quotes: 

• “Turning 50 opens up new opportunities in your 401K that can significantly boost your retirement savings.” – Radon Stancil 
• “Don’t overlook the power of catch-up contributions; it’s a chance to make up for lost time and enhance your retirement fund.” – Murs Tariq 

 Resources: 

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement! 

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss the crucial documents you need to keep on file as you approach or enter retirement. It's not uncommon to feel overwhelmed by the amount of paperwork accumulated over the years, especially when it comes to tax returns, legal documents, and health care records. This episode offers valuable insights on how to manage your important documents effectively to ensure peace of mind during retirement.

Listen in to learn about the best practices for storing and organizing tax documents, health care records, legal papers, and other essential files. Radon and Murs also touch on the importance of digital storage solutions and how they can help you save space while keeping your documents secure. Whether you're concerned about potential audits, inheritance rules, or just want to make sure your legal documents are in order, this episode provides practical advice that every retiree should consider.

In this episode, find out:

·      How long you should keep different types of tax documents and what to keep on file.

·      The importance of maintaining accurate health care records, especially for HSA accounts.

·      Key legal documents that you should store securely and ensure others know how to access.

·      The significance of asset and debt-related documentation, including real estate and retirement accounts.

·      The advantages of using digital storage solutions to manage and protect your essential documents.

Tweetable Quotes:

·      "Keeping your documents organized isn't just about decluttering—it's about ensuring you're prepared for any situation, from audits to emergencies." – Radon Stancil

·      "Having digital copies of your important documents can save you both space and stress, especially in retirement." – Murs Tariq

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss Social Security spousal benefits. Social Security is a complex subject, and today, we're diving into the intricacies of spousal benefits. What are they? How do they work? And what strategies can be utilized to maximize these benefits? To help us navigate this important topic, we are joined by Heather Schreiber, a consultant with a wealth of knowledge about Social Security. Heather's expertise will help you understand the nuances of Social Security spousal benefits, which is crucial for making informed decisions about your retirement planning.

Listen in to learn about the different scenarios and strategies for Social Security spousal benefits. We’ll cover the impact of age differences between spouses, the timing of benefit claims, and the financial implications of these decisions. Whether you are nearing retirement or helping a loved one plan for it, understanding these benefits can significantly affect your financial security. We also discuss the importance of consulting with experts to navigate the many rules and changes in Social Security.

In this episode, find out:

·      How Social Security spousal benefits work and their eligibility criteria.

·      The impact of claiming Social Security benefits at different ages.

·      Strategies for maximizing Social Security spousal benefits.

·      The importance of the higher wage earner delaying benefits.

·      How survivor benefits are calculated and their significance.

Tweetable Quotes:

·      "Social Security is a big part of many people's retirement planning, accounting for about 30% of their expected income." - Heather Schreiber

·      "It's crucial to have experts in your corner to navigate Social Security's complex rules and ensure you make the right decisions." - Radon Stancil

Resources:

If you are in or nearing retirement and want to gain clarity on what questions you should be asking, learn about the biggest retirement myths, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

In this episode of the Secure Your Retirement Podcast, Radon and Murs discuss the importance of reevaluating your annuity, especially in the current economic climate. The episode dives deep into scenarios where reassessing your current annuity product can be beneficial, highlighting how both banks and insurance companies have gained from the recent rise in interest rates. 

Listen in to learn about the four main reasons why you should consider reviewing your annuity now. Radon and Murs break down the impact of higher interest rates, inflation, and unnecessary riders, and how significant life events can affect your financial decisions. This episode is packed with actionable insights to help you navigate these changes and secure a more stable financial future. 

In this episode, find out: 

• Why changing interest rates necessitate a review of your annuity. 
• How higher inflation rates can impact your annuity's performance. 
• The importance of evaluating unnecessary riders in your annuity. 
• How significant life events should prompt a review of your annuity. 
• Strategies to maximize your income and benefits through annuity adjustments. 

Tweetable Quotes: 

• "Interest rate changes can significantly impact your annuity's performance—reevaluate now to ensure you're getting the best return." — Radon Stancil 
• "Inflation rates have soared, but with the right annuity adjustments, you can still secure a strong financial future." — Murs Tariq 

Resources: 

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement! 

To access the course, simply visit POMWealth.net/podcast.