Secure Your Retirement

Looking for a positive during this current negative high-interest rate market? How about looking into fixed index annuities? We’re experiencing the best interest rates environment that we have witnessed in the fixed annuities arena in over ten years.

A fixed index annuity is an insurance product that acts as a bond alternative with a protected principle by the insurance company. Annuities are even more attractive today than ever as markets, including the typically safe bond market, turn volatile.

In this episode of the Secure Your Retirement podcast, we discuss fixed index annuities and why they’re the best bond alternatives in the current volatile market. Listen in to learn the primary reasons why someone would consider a fixed index annuity in their retirement plan.

In this episode, find out:

• Fixed index annuity – the bond alternative that offsets the equity side of the market.
• A fixed annuity can provide a lifetime income similar to a pension.
• A point-to-point method – how to calculate a fixed annuity interest from beginning to end.
• How a fixed annuity protects you from downside loss of principle.
• Why the fixed index annuity is a more attractive alternative to bonds in the next ten years.
• The surrender charge schedule – the time you commit your money to an insurance company.
• Understanding what it means to have money in a fixed index annuity from a restrictive point of view.

Tweetable Quotes:

• “The bond side of the market, which is supposed to be our safety net, is very volatile.”- Murs Tariq
• “If the fixed index annuity is down, you don’t make any money, but you also don’t lose any money.”- Radon Stancil 

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.

Have you heard about structured notes, and what questions do you have about them?

Structured notes are issued by a bank to perform in either the risk management growth or income categories. A bank looks at elements such as interest rates, volatility in the market, and some indices before issuing structured notes.  

In this episode of the Secure Your Retirement podcast, we talk about structured notes, what they are, how they work, and their purpose over a glass of cabernet sauvignon wine. Listen in to learn about the coupon and principal barriers and how we work to minimize the risk.

In this episode, find out:

• How structured notes are built to give us risk management growth or income.
• How the bank issues structured notes and the risk attached to the bank you choose.
• How we build structured products to minimize the risk occurring to less than 10%.
• How the coupon barrier works and protects you from losing your principal.
• Why we have to think about the issuing bank and barriers regarding structured notes risks.
• Factors to consider before buying or selling structured notes to avoid losing money.
• What it means for the structured notes to be “called” and how we work around that.
• Why the availability and affordability of structured notes make them good tools during volatility.

Tweetable Quotes:

• “Structured notes are structured to give us risk manage growth or income.”-Radon Stancil
• “On the principal barrier, the only way you can lose money in this structured note is at the end of the term, not on the month.”- 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.

What should you be thinking about or doing with your tax planning as we approach the end of the year? Planning your taxes ahead of April is a great way to make the process more efficient.

When it comes to tax planning, the earlier you can do it outside of April, the more things you can get done. Some of the things you should be looking into include RMDs and QCDs, which depend on the situation or age.

In this episode of the Secure Your Retirement podcast, we have Steven Jarvis, a CPA, owner of Retirement Tax Services, the host of Retirement Tax Podcast, and is very knowledgeable in tax planning. We discuss QCDs, standard deductions, Roth conversions, and much more.

In this episode, find out: 

• Why these last months of the year are a great time to check on your taxes before April.
• Things to check on before the year ends to avoid tax interests and penalties.
• How QCDs allow you to give to charity without taxation and should be done by the end year.
• The advantages of doing QCDs if you’re charity inclined and over the age of seventy and a half.
• Understanding the standard deductions and how to save on taxes when donating to charity.
• The difference between a Roth conversion and contribution and how to do them correctly.
• The advantages of a Roth account in giving tax savings and flexibility.
• How taxes are paid on Roth conversions, depending on age and situation.
• Why the inflation reduction act doesn’t directly impact your taxes.  

Tweetable Quotes:

• “Tax planning should be a conversation we have thirteen months of the year.”- Steven Jarvis
• “Taxes should go into our considerations; they should not be the primary reason we do something.”- Steven Jarvis

Get in Touch with Steven:

• Website: https://retirementtaxservices.com/
• LinkedIn: https://www.linkedin.com/in/steven-jarvis-cpa-ba91aa23/

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.

Who wants to pay taxes? It’s impossible to avoid paying taxes altogether; what we can do is be more efficient with them.

Tax planning is an essential part of your retirement plan. To plan tax efficiently in your retirement, you have to understand all the different investments you’ve accumulated and the different types of tax structures to them.

In this episode of the Secure Your Retirement podcast, we discuss why tax planning should be a part of your retirement plan. Listen in to learn why the Roth IRA account is powerful when it comes to tax planning compared to the traditional IRA account.

In this episode, find out:

• The importance of understanding your different types of accounts to help make tax planning efficient.
• Understanding how much of your social security income is taxable annually.
• If possible, ensure no other income coming in is taxable when taking social security income.
• The difference between how the traditional IRA and Roth IRA are taxed.
• The Roth conversion strategy and the tax planning that goes into making it a success.
• Understanding how the cash in the bank and brokerage accounts are taxed. 

Tweetable Quotes:

• “Understanding the accounts is the first major part of it and where and how can you be taxed in retirement.”- Murs Tariq
• “What’s really an important thing when it comes to tax planning is that we do it in advance.”- Radon Stancil 

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.

Have you ever thought about incorporating a fun fund into your retirement spending plan? How realistic is it to do the fun things you want to do and for the time you want to do them after retirement?

A fun fund is an extra fund that’s added to your retirement spending fund categories as part of your basic wants after retirement.

In this episode of the Secure Your Retirement podcast, we talk about the categories of retirement spending and the importance of having a fun fund. Listen in to learn why it’s important not to overstate certain things in your retirement plan to avoid a snowball effect.

In this episode, find out:

• Three simple categories of a retirement plan; essential income needs, wants, and legacy/gifting.
• Essential income needs – the basic things you need to stay relatively happy.
• The wants – the things you want out of retirement.
• The legacy/gifting – allocating some funds to give away if you can.
• How we analyze retirement spending and inflate the basic wants.
• The fun fund – an extra fund from your retirement spending plan to support fun activities.
• The difference between a fun fund running for 10 years and that running until the end of life.

Tweetable Quotes:

• “Running a fun fund does not tax your overall retirement plan that much.”- Radon Stancil
• “We take essential income needs, wants, and legacy/gifting together and they work really well to create a spending plan for 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.

What questions should you be asking yourself when planning and thinking about retirement?

When it comes to planning for your retirement, your major concerns should be around your goals, your need for professional help, and the actual retirement plan. To build a retirement-focused financial plan, you must have goals or at least have an idea of what you want your retirement to look like.

In this episode of the Secure Your Retirement podcast, we talk about the three major questions to ask yourself when thinking about retirement over a glass of Erath Pinot Gris wine. Listen in to learn how to align yourself with someone that’s specialized in retirement planning and not just the investment side of things as you transition into retirement.

In this episode, find out:

●     Think about when you want to retire and figure out if that’s possible for you.

●     Think about what you’re going to do in your retirement to live a fulfilling life.

●     Think of the type of retirement you want for yourself before you start planning for it.

●     How we help relieve you of the worry of taking care of your retirement planning.

●     Take time before engaging an advisor to fully understand how their practice works.

●     Align yourself with a specialized retirement advisor as you transition into retirement.

●     How to build a retirement-focused financial plan based on your idea of retirement.

Tweetable Quotes:

●     “You want to take the time before you enter into an engagement with an advisor to really understand a lot of things as to how their practice works.”- Murs Tariq

●     “If you’re going to work with a professional, try to align yourself with someone that is specialized in the area of retirement planning and not just in the investment side of things.”- 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.

What do you do in an extended market downside as opposed to a short one? How do you invest in a downturn market? The closer we are to retirement, the more nervous a downside market affects us.

All year 2022, the market has been volatile, and the recovery is not as quick as we experienced during the 2020 pandemic. What we’re looking for now are investments that are low risks, not correlated to the stock market, and do well in rising interest rate markets.

In this episode of the Secure Your Retirement podcast, we talk about the current market volatility and how to invest. Listen in to learn about the fund designed to protect your investment and the other one that does better in a high-interest rate market.

In this episode, find out:

●     Why a downside market creates a lot of anxiety the closer you get to retirement.

●     The difference between a quick market downturn and an extended market downturn.

●     The factors contributing to the high inflation rate and the market downturn in 2022.

●     Comparing the 2022 inflationary crisis to the financial crisis of 2008.

●     The mutual fund is designed to protect your principal and provide interest payments.

●     Why we might utilize a fund that does better in high-interest rate and volatile markets.

Tweetable Quotes:

●     “The closer we are to retirement, the more nervous a downside market affects us.”- Radon Stancil

●     “The idea of using bonds to de-risk your portfolio and reduce volatility to hedge yourself has not worked at all in 2022.”- 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.

What exactly is causing the current inflation, and how does it affect your retirement?

The supply chain issues we experienced during the pandemic majorly contributed to the current global inflation we’re now experiencing. The Fed has increased rates on a few major product categories raising the cost of inflation.

In this episode of the Secure Your Retirement podcast, we talk about the cause of inflation, what the Fed is doing, and how you can reduce the impact of inflation on your retirement. Listen in to learn how the Fed is trying to balance the economy to keep it balanced and avoid a crash.

In this episode, find out:

●     How the pandemic supply chain issues led to the current inflation rate.

●     The major categories getting affected by inflation due to supply chain issues and the Ukraine war.

●     How the Fed is trying to balance things to keep the economy moving and avoid a crash.

●     How the flexibility of retirees can allow them to avoid the impact of inflation.

●     Why the Fed is avoiding making the inflation mistake of the 1970s and 80s.

Tweetable Quotes:

●     “A retiree cannot avoid inflation, but they can make some conscious decisions on whether or not they’re going to be fully susceptible to inflation.”- Murs Tariq

●     “Knowing what you can control gives you power.”- Radon Stancil

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.

Should you work with a fiduciary, and what does it mean to be a fiduciary? A financial advisor working under the fiduciary premise is bound by certifications and licenses to make transactions in the client’s best interest.

In this episode of the Secure Your Retirement podcast, we explain the importance of working with a fiduciary to manage your retirement investment. Listen in to learn the difference between a broker and a fiduciary, plus the factors that bind a fiduciary to act in the client’s best interest.

In this episode, find out:

• The difference between suitability and fiduciary standards.
• The certifications and licenses that bind an advisor to become a fiduciary.
• Understanding what it means to be a fiduciary – doing what is best for the client.
• The factors we consider when evaluating investments that best suit our clients.
• Why you should ask your financial advisor upfront if they’re bound to the fiduciary standard.

Tweetable Quotes:

• “There are certain licenses and certifications that bind an advisor to become a fiduciary.”- Radon Stancil
• “As a fiduciary, our responsibility is not just to look at one question; it’s also to look at everything surrounding that question in a very holistic manner to help you make the best decision for yourself.” - 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.