Secure Your Retirement

Are you going to be able to avoid IRMAA surcharges on Medicare parts B and D? IRMAA stands for Income-Related Monthly Adjusted Amount, and there are charges on both parts B and D based on where your income lands.

If you’re thinking about retiring any time soon, there are ways to manage your income to stay at a lower amount to avoid surcharges on your Medicare premiums.

In this episode of the Secure Your Retirement podcast, we take you through the IRMAA surcharges on Medicare part B and D over a glass of La Crema Chardonnay. Listen in to learn about the 3-layer IRMAA surcharge difference and which category you fall in. 

In this episode, find out:

●     Understanding what Income-Related Monthly Adjusted Amount represents in Medicare.

●     The meaning of Modified Adjusted Gross Income and why you need to know yours.

●     The IRMAA surcharge to pay if your income didn’t exceed 91k single or 182k married filed jointly.

●     When to file for a form SSA-44 and explain how a life-changing event affected your income.

●     The 3-layer IRMAA surcharges to pay if your income exceeds 91k single or 182k married filed jointly two years prior.

Tweetable Quotes:

●     “There’s a potential where you can have additional charges on your part B or D if you fit certain criteria when it comes to income.”- Murs Tariq

●     “With a little bit of planning, we can be able to think IRMAA through and what’s going to be beneficial to you.”- 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.

When you think about the GPS in your car, you think about how it will direct you to the right destination. The most important part of your GPS is knowing where you are so it can help you get to your destination.

Our retirement program is similar to a GPS designed to help you get to your retirement destination without any worries.

In this episode of the Secure Your Retirement podcast, we take you through our GPS retirement system and explain why it’s powerful. Listen in to learn how we help you prepare for any roadblocks that arise during your retirement.

In this episode, find out:

• Why we liken our retirement plan process to a GPS system.
• The different things that help us understand where you are like income, assets, and more.
• The numbers we use to estimate if your plan can get to the end of your retirement.
• Why we use age ninety as the end of your retirement to plan the GPS retirement system.
• The “what ifs” we look at to prepare for potential roadblocks that may arise during your retirement.
• Why we do the GPS annual updates with our clients to help adjust things in their favor.

Tweetable Quotes:

• “It doesn’t matter how much you have asset-wise, it’s all about how much you plan on spending in retirement.”- Murs Tariq
• “We use our retirement planning process system to get you all the way from where you are now through retirement.”- 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 been wondering whether to do a beneficiary and how to do it? There are different accounts that require you to have beneficiaries, including your retirement accounts.

A beneficiary is a person you assign while you’re living to receive the benefits of your accounts after you pass.

In this episode of the Secure Your Retirement podcast, we talk about beneficiary destinations and how to do them correctly. Listen in to learn the importance of doing annual beneficiary reviews and listing your accounts for the benefit of your beneficiaries.  

In this episode, find out:

• Different types of accounts that are almost required to have beneficiaries.
• Understanding the primary and contingent beneficiaries plus the tax risks of not having a beneficiary.
• The differences between the per capita and per stirpes beneficiary destinations.
• How the per stirpes language can help with the tax options during inheritance.
• Have beneficiaries in place for all accounts, and ensure you do a beneficiary review every year.
• The importance of listing all of your accounts to ensure your beneficiaries know where to look.

Tweetable Quotes:

• “The beauty of per stirpes is that it makes sure that the lineage is taken care of versus one person getting everything because someone is not around to inherit.”- Murs Tariq
• “Make a list of all of your accounts so that whoever your beneficiaries are, they’ll know where to go look.”- 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 given thought to the possibility of having the hormonal replacement therapy conversation?

As we age, hormones will inevitably decline and it’s something that everyone will have to deal with. The hormonal optimization therapy is something we should discuss now that the benefits outweigh the risks with the current literature.

In this episode of the Secure Your Retirement podcast, we have Dr. Doug Lucas, a triple fellowship-trained physician with a passion for health optimization, epigenetics, bone health, hormone optimization, and orthopedic surgery. Listen in to learn about the hormone decline symptoms to look out for and how to start the testing and treatment process.

In this episode, find out:

• Understanding hormonal replacement therapy and the benefits of it.
• The common symptoms of hormonal decline in both men and women and the age they occur.  
• The symptoms of hormonal decline in women and when to consider the optimization conversation.
• How to approach hormonal testing and treatment from where you are now to where you want to be.
• Benefits to expect from hormonal replacement therapy for both men and women and the time it takes to work.

Tweetable Quotes:

• “Hormonal replacement is something that if you do, you should plan on doing indefinitely.”- Dr. Doug
• “Giving somebody hormones will deplete them of some things pretty predictably, and that’s another thing that needs to be considered along the way.”- Dr. Doug

Get in Touch with Dr. Doug:

• Website: https://optimalhumanhealth.com/

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.

Are you considering taking that complimentary call and possibly working with us? Here at Peace of Mind, we have a well-curated system from the first meeting we have with a potential client to the actual job of managing their financial retirement plan.

In this episode of the Secure Your Retirement podcast, we take you through our process and the four steps to secure your retirement. Listen in to learn how we conduct a risk assessment on your investments, plus come up with an active retirement financial plan for you.

In this episode, find out:

●     Personalized introduction meeting – a no-obligation meeting checking where you are and if we’re potentially a good fit.

●     The two reasons why we might think you’re not a good fit for us on the first meeting.

●     Personalized planning meeting – putting your information together into a retirement focus financial plan.

●     Things that go into a risk assessment that we conduct during our second meeting.

●     The advantageous aspects of the complimentary personalized planning meeting.

●     Personalized options review – walking you through all the options as to how we can start a working relationship.

●     Personalized monitoring – an ongoing process of actively managing your money accounts and financial plan.

Tweetable Quotes:

●     “We have a process/ system, you either like, or you don’t like it we’re comfortable with that.”- Radon Stancil

●     “If you have investments, we’re going to take a look at what your investments are and essentially do a score as to how risky they are.” - 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.

Have you heard of I bonds and are wondering how they can work for you? An Inflationary bond is an interest-earning bond issued by the government.

Even though the money market isn’t looking very attractive right now, I bonds seem attractive and are as of today paying up to a 9.62% rate of return.

In this episode of the Secure Your Retirement podcast, we talk about I bonds, what they are, and how they can benefit you. Listen in to learn how to buy I bonds and make them the most efficient for you with their rate of return.  

In this episode, find out:

●     Understanding an I bond and why it’s attractive to buy during this inflation.

●     How to buy I bonds individually from the government online.

●     The I bond limitation per person and why it’s not a save-all to the market issues this year.

●     The factors that affect the I bond interest rate plus the holding period that makes sense.

●     How the I bond is taxed federally and at your ordinary income.

Tweetable Quotes:

●     “An I bond is issued by the government, and it is a bond that is going to earn interest.”- Murs Tariq

●     “To make the I bond the most efficient, you want to have it in your mind that you hold it for at least five years.”- 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.

How in control are you of your spending? Have you ever considered living a frugal lifestyle?

Frugality is about being conscious about your spending and being a good steward of your resources. When you know what you want out of your life, conscious spending and setting boundaries become easier.

In this episode of the Secure Your Retirement podcast, Jen Smith explains how to get control of your spending and transition into a frugal lifestyle. Jen is a personal finance expert, author, and co-host of the Frugal Friends Podcast. Listen in to learn how to create boundaries that stop you from making bad spending decisions online.

In this episode, find out:

●     Jen on how her experiences with money led her to start her podcast Frugal Friends.

●     Frugal vs. cheap – choosing quality without taking advantage of someone else’s resources.

●     How to focus on lowering your essentials so you can spend on your wants without guilt.

●     How being conscious about your spending can make the transition to frugality easier.

●     How to create physical barriers to stop yourself from making bad purchasing decisions.

●     How to have hard conversations with yourself and your loved ones to figure out what you want in your life.

Tweetable Quotes:

●     “Frugality is being conscious and a good steward of your resources while being cheap is taking advantage of someone else’s resources.”- Jen Smith

●     “When you can realize what you want from life, it can make the transition to being more conscious about your spending easier and more welcomed.”- Jen Smith

Get in Touch with Diane:

●     Website: http://instagram.com/frugalfriendspodcast

●     Instagram: http://instagram.com/frugalfriendspodcast

●     Podcast: Frugal Friends

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.

If you don’t have Medicare all figured out, you’re not alone. Medicare is very complicated to understand and even get into.

It is important that you start planning to enroll in Medicare in a timely manner, that is, before turning 65. But it’s not necessary for everyone, some people can completely defer Medicare depending on individual situations.

In this episode of the Secure Your Retirement podcast, Diane Omdahl helps us understand more about Medicare. She is co-founder of 65 Incorporated, a recognized Medicare expert, and entrepreneur. Listen in to learn about Medicare plans, their differences, and the factors to consider before choosing a plan.

In this episode, find out:

• Diane’s medical and home care background and how it led her to become a Medicare expert.
• Why you should start planning for Medicare 9 months to a year before turning 65.
• The Medicare complexities depend on situations and why you should be careful.
• Open enrollment – the opportunity to change your plan and why you should pay attention.
• Medicare landscape and the factors to consider when choosing any Medicare part.
• Understanding the original Medicare and Medicare Advantage rules and differences.
• The common mistakes people make when choosing a Medicare plan.
• The role a financial advisor plays in educating their clients about Medicare.

Tweetable Quotes:

• “Ninety-nine percent of people in a Medicare Advantage plan face prior authorization.”- Diane Omdahl
• “When it comes to Medicare, the smart person’s the one that realizes she/he needs help.”- Diane Omdahl

Get in Touch with Diane:

• Website: https://www.65incorporated.com/  

Email: [email protected]

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.

Are you noticing that you’re dealing with more stress now that you’re retired or close to retirement?

Stress is in itself not inherently bad, but chronic stress is and can lead to chronic illnesses. Becoming aware of how stress is showing up for you and being specific about what’s stressing you are great ways to take away the ambiguity of stress and start taking action.

In this episode of the Secure Your Retirement podcast, we have Ellen Leonard, a speaker, stress management consultant + coach, and expert who teaches and coaches business leaders, teams, and entire organizations how to manage and prevent stress. Listen in to learn about the signs and symptoms of chronic stress, how to be aware of them, and work on them to live your best retirement life.

In this episode, find out:

●     Ellen’s career background and how she helps people in corporate deal with stress.

●     Symptoms of stress in retirement, how to recognize stress, plus get professional help.

●     The impact of chronic stress on your life which include chronic illnesses.

●     How to become aware of stress and be very specific about what’s stressing you to take action.

●     How to use movement, sleep, and eating as stress management tools.

●     Why finding your true purpose in retirement can be a great stress management tool.

●     Start by reaching out to a professional as soon as you notice signs of stress in your life.

Tweetable Quotes:

●     “Ninety percent of illness is influenced by stress.”- Ellen Leonard

●     “We can do a compare and contrast and cultivate an awareness around how stress might be impacting us.”- Ellen Leonard

Get in Touch with Ellen:

●     Website: https://www.ellen-leonard.com/

●     LinkedIn: https://www.linkedin.com/in/ellenleonard/

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.

Over the last couple of years, we’ve covered many topics on investing and retirement planning. We have a whole library of information on any topic that you can think of.

In this episode of the Secure Your Retirement podcast, we share information on where you can find the episodes, you’re looking for over a glass of Erath Pinot Noir wine. We explain the different episodes under different categories and why you should listen or re-listen.

Listen in to learn why we advocate for the simple three-bucket retirement strategy instead of the buy and hold strategy.

In this episode, find out:

●     Episodes on estate planning include wills, power of attorneys, trusts, and much more.

●     Recommendations on retirement planning episodes and what you’ll learn.

●     Episodes to help you understand tax and how to tax do the planning.

●     Episodes on portfolio management – why active management and not buy and hold.

●     The big topic of annuities and the 8-part series we have about them.

Tweetable Quotes:

●     “The retirement bucket strategy is a simple three bucket strategy that takes away all the stress because you’re going to know where your cash, income and safety, and growth are at.”- Radon Stancil

●     “Once you have the investment strategy and retirement plan figured out then taxes become something you want to focus on.”- Murs Tariq

Where Is My Episode?

Estate Planning:

EP 1 – Chess Griffin – How to Know What You Need for Your Estate Plan

EP 73 – Chess Griffin – Do You Need a Trust?

EP 106 – What Should You Consider If Your Spouse Passes Away?

EP 109 – Chess Griffin – Special Needs Trust – What You Need to Know

EP 135 – How to Create an Estate Plan Without the Stress

EP 160 – 6 Considerations for Your Estate Plan

Retirement Planning:

EP 8 – Planning for Retirement – How the Process Works – Part 1

EP 10 – Planning for Retirement – How the Process Works – Part 2

EP 12 – Planning for Retirement – How the Process Works – Part 3

EP 18 – How to Build an Income Plan For Retirement

EP 22 – Looking at The Whole Picture in Retirement

EP 44 – How Do IRA and 401K Rollovers Work?

EP 48 – How Much Do You Need to Retire?

EP 52 – The Retirement Planning Checklist

EP 58 – Social Security – When is The Right Time?

EP 88 – Having a Team Approach in Retirement

EP 97 – Social Security Strategies

EP 118 – 4 Questions to Help Your Income Plan

EP 157 – The Retirement Bucket Strategy

EP 162 – 401k Versus IRA

Taxes:

EP 13 – Tom Turner – Planning Taxes and Retirement

EP 66 – How To Convert an IRA to a Roth IRA

EP 94 – Tax Strategies for Non-IRA Brokerage Accounts

EP 124 – IRAs – Required Minimum Distributions

EP 130 – Considerations For Charitable Giving

EP 133 – Steven Jarvis – Tax Planning for Retirement

EP 158 – Tax Planning Versus Tax Preparation

EP 161 – How Required Minimum and QCDs Work

EP 163 – Steven Jarvis – Mid-Year Tax Strategies

Portfolio Management:

EP 16 – Investing During Retirement – Buy and Hold or Active Management?

EP 19 – Bill Sherman – Buy and Hold is Dead

EP 56 – Asset Allocation or Strongest Assets

EP 146 – Risk Adjusted Portfolio – How It Works

EP 150 – What’s The Difference Between a Mutual Fund and a ETF?

EP 153 – Bonds Versus Bond Alternatives

EP 159 – When Cash Is Good

Annuities:

EP 26 – Annuities – Why Ever Use Them

EP 30 - Annuities – Why Ever Use Them – Part 2

EP 34 - Annuities – Why Ever Use Them – Part 3

EP 38 - Annuities – Why Ever Use Them – Part 4

EP 41 - Annuities – Why Ever Use Them – Part 5

EP 46 - Annuities – Why Ever Use Them – Part 6

EP 47 – Annuities – Why Ever Use Them – Part 7

EP 54 – Annuities – Portfolio Implementation – Part 8

EP 128 – Should I Consider an Annuity in My Financial Plan?

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.