Secure Your Retirement

How do you keep your home and online space secure? Are you proactive in the steps you take to avoid fixing any damage? 

It’s important to understand the real threats that your family can face and how to be proactive about your security. The first step you should take towards your home security is making your home an unattractive target to the bad guys.

In this episode of the Secure Your Retirement podcast, we have Andy Murphy, founder of The Secure Dad, a family safety education company. Listen in to learn what to avoid and what to adopt to keep yourself financially secure online.

In this episode, find out:

●     How more lights to the exterior of your home make it unattractive to thieves.

●     Have and maintain discipline in properly locking and lighting your home when necessary.

●     Stay safe online by avoiding email phishing and malicious links on google search.

●     Avoid sending cheques in the actual mailbox to protect yourself against financial theft.

●     The importance of two-factor authentication and using text notification instead of authenticator apps.

●     Avoid locking yourself out of your digital accounts by not using password managers.

●     The online safety caution to take with your children to avoid cyberattacks.

Tweetable Quotes:

●     “Life is enjoyable, and we can all have a good time if we just take a few proactive steps to protect our investments and families.”- Andy Murphy

●     “Don’t necessarily put all your trust in something that’s on the cloud that you can’t physically get to.”- Andy Murphy

Get in Touch with Andy:

●     Website: https://www.thesecuredad.com/

●     Instagram: https://www.instagram.com/thesecuredad/

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 have Osteoporosis or are exposed to its dangers, maybe it’s time you consider a comprehensive treatment approach. Osteoporosis is the diagnosis of having poor bone quality and quantity.

Its treatment includes lifestyle changes that can help you prevent, slow down, or reverse the disease and enjoy your retirement.

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 how your gut and functioning impact your bone health.

In this episode, find out:

• Why Dr. Doug made the leap from traditional medicine to what he calls health optimization.
• Understanding Osteoporosis, how it develops, and how it can impact your life.
• The structure of traditional medicine in treating Osteoporosis vs. health optimization.
• How lifestyle changes can help you prevent, slow down, or reverse bone loss.
• How gut health or chronic inflammation can cause bone loss and how that can be changed.  
• Where to start to get comprehensive treatment for Osteoporosis.
• Where to find Dr. Doug, his telehealth services, plus his 6 months Osteoporosis treatment process.
• Why he screens leaky gut and gut function in bone loss treatment.  

Tweetable Quotes:

• “A lot of people don’t know that they have it; it’s estimated that about 50 million adult Americans have Osteoporosis.”- Dr. Doug
• “Everybody needs to know a little bit of their gut and how it's functioning because most of us have dysfunctional guts.”- Dr. Doug

Get in Touch with Dr. Doug:

Website: https://optimalhumanhealth.com/ https://optimalbonehealth.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.

How do you keep your finances safe in a world where cybersecurity has become a household term? In a world where we’re performing most of our tasks online, it is important to be aware of the innovation of cyber fraud and hacking and how to stay safe.

It is crucial that your mobile devices stay encrypted, updated, and with good threat detection to avoid virus infection from malicious sites.

In this episode of the Secure Your Retirement podcast, we have Nick Espinosa, an expert in cybersecurity and network infrastructure who has consulted with clients ranging from small business owners to Fortune 100 level companies. Listen in to learn why you should validate and verify information, especially in financial transactions to avoid phishing.

In this episode, find out:

• Nick explains the type of work he does in cybersecurity.
• The importance of marrying technology with cybersecurity to stay protected from possible hacking.
• Make sure your mobile devices are encrypted to protect your information.
• Have good threat detection on your mobile device to avoid virus infection from malicious sites.
• Why it’s crucial to keep your devices updated to fix the vulnerability and avoid a break-in.
• The importance of enabling multifactor authentication for your password manager to keep you safe.
• Understanding forms of phishing and how they get you infected to steal your information.
• Build a filter of distrust in your technological environment to stay safe.
• Free safe sites and organizations on basic cybersecurity education.

Tweetable Quotes:

• “We have to understand as technology innovates, so does the innovation of fraud and hacking, so we have to be aware of what we’re clicking on.”- Nick Espinosa
• “Anybody over 60 is targeted at a higher rate on the personal side than any other age group.” - Nick Espinosa

Get in Touch with Steven:

• LinkedIn: https://www.linkedin.com/in/nickespinosa/ 

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 does inflation affect your retirement? We’re currently experiencing high inflation due to a number of reasons and it’s only wise to know how to plan for it in retirement.

In this episode of the Secure Your Retirement podcast, we talk about the current inflation rate, its causes, and how to protect yourself in retirement over a glass of Chardonnay la crema wine. We explain why the current inflation is short-term, why you should consider having an active retirement approach, and a Roth conversion.

Listen in to learn how to have a worry-free retirement plan by ensuring you have the cash, growth, and income buckets.

In this episode, find out:

• The low supply chain issues causing the current high inflation rate.
• Why you don’t need to be alarmed by the current high inflation because it’s short-term.
• How to protect yourself against inflation by having an active investment approach.
• The two scenarios that exist for you if your retirement plan is tight during inflation.
• Understanding past inflation data and why we believe it’s going to come back to normal.
• The different ways you can prepare your spending plan as a retiree during inflation.
• How to have a worry-free retirement plan by ensuring you have the cash, growth, and income buckets.
• Why you should consider a Roth conversion to have a tax-free vehicle to tap into in retirement.
• Talk to an advisor to understand the tax implication of a Roth conversion before going for one.

Tweetable Quotes:

• “Having an active approach can get you out of harm's way in certain scenarios…rather than just having a buy and hold mentality.”- Murs Tariq
• “If you want to have a peace of mind retirement or a worry-free retirement plan, make sure that you have the cash, growth, and income buckets.”- 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.

Are you committed to having a tax-planning conversation outside the tax season? The only way to win in the tax game is to have a proactive approach when it comes to tax planning.

It’s important to be committed to having some kind of tax-planning conversation on any topic, especially with a professional outside of the traditional tax period.

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 knowledgeable in tax planning. We discuss the benefits of tax planning and a few ways how you can get intentional to avoid paying more tax than needed.

In this episode, find out:

• The importance of tax planning to avoid the pain of the tax-paying experience.
• How (QCDs) can lower your taxable income even when taking standard deductions.
• How doing a QCD can help you pay lower premiums for Medicare.
• The benefits of the donor-advised fund, allowing lumping of multiple years of charitable contributions into a single year.
• Why you should consider getting your money into a tax-free bucket according to your tax bracket.
• The reasons why you should or shouldn’t consider doing a Roth conversion.

Tweetable Quotes:

• “Everyone should consider a Roth; it does not mean anyone should do one.”- Radon Stancil
• “If you have any concerns that tax rates might go up, getting dollars into a tax-free bucket is going to set you up for success.”- Steven Jarvis
• “The only way we get ahead with tax planning is if we have an intentional approach.”- 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.

Do you understand the difference and similarities between 401ks and IRAs? How can you make the two or one make sense for you as your retirement plan?

Both 401ks and IRAs are set up to encourage you to plan for your retirement, and you should have an analysis and a conversation on which one is good for you. But when you have the opportunity, moving from a 401k to an IRA gives you more flexibility and investment options.

In this episode of the Secure Your Retirement podcast, we talk about the differences and similarities between 401ks and IRAs. Listen in to learn how you can move your 401k funds into an IRA and its benefits.

In this episode, find out:

●     A 401k is an employer-sponsored retirement plan, and an IRA is an individual retirement account.

●     The pre-tax (traditional) 401k or IRA and the tax-free option (Roth).

●     The difference between pre-tax and Roth 401ks/ IRAs and the tax benefits of each. 

●     The two major benefits of a 401k in terms of how it can be funded.

●     In-service rollover - when you can move your 401k funds into an IRA and the benefits.

●     A strategy on how we can access your 401k and make trades on your behalf.

●     The simple process of doing an in-service rollover to move you from a 401k to an IRA.

Tweetable Quotes:

●     “On the funding side, 401ks typically are going to allow you to put in much more money than an IRA.” -Murs Tariq

●     “In general, as long as you’re employed with the company, you cannot move from the 401k to an IRA.” - 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 it comes to taking your money out of your IRAs and 401ks after retirement age, you might need to understand the terms RMDs and QCDs.

At age 72, you’re required to start taking distributions out of your 401k and IRAs with a formula based on your life expectancy. The key here is to be tax-efficient or even go tax-free in any way you can without breaking the law.

In this episode of the Secure Your Retirement podcast, we take you through the Required Minimum Distributions and Quality Charitable Distributions. Listen in to learn how to save on tax by taking your money out of an IRA/401k and doing a Roth conversion if you’re 65 and retired.

In this episode, find out:

• The formula to calculate your distributions which you’re required to start taking based on your life expectancy.
• Taking out your RMDs in the year you turn 72 and the consequences of deferring your first RMD.
• Understand that you can withhold tax for RMDs plus the frequency in which you take your RMDs.
• Understanding how any pre tax asset that is subject to RMDs is calculated.
• Why take money out of your IRA/401k and do a Roth conversion if you’re 65 and retired to save on tax.
• Where to take the RMD money from when you have several IRAs and 401ks.
• Quality Charitable Distributions (QCDs) – qualifying to take your IRA money tax-free at age 70 and a half.
• How to avoid paying tax or doing it efficiently on your RMD through the QCD strategy.

Tweetable Quotes:

• “At age 72, you’re required to start taking distributions out of your 401k” - Radon Stancil
• “It’s perfectly legal to defer your first and only RMD, after that, it must be all completed by 12/31 of the calendar year.”- 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.

When it comes to estate planning, some things are essential and required at all times to simplify the process for your family when you’re no longer here.

In this episode of the Secure Your Retirement podcast, we talk about the 6 essential and required things you need to consider when estate planning over a glass of Raphael Prosecco sparkling wine. We explain the purpose and importance of having documents such as a will, power of attorneys, the HIPAA form, beneficiary form, and the transfer on death document.

Listen in to learn the purpose of having the durable and healthcare power of attorneys to make things simpler for your family in case you become incapacitated.

In this episode, find out:

• The importance of having a will to simplify things for your loved ones when you’re no longer here.
• Healthcare power of attorney – appointing someone to carry out your healthcare decisions for you if you’re incapacitated.
• How having a healthcare power of attorney uncomplicates complicated situations for your family.
• The durable power of attorney - appointing someone to carry out your financial decisions for you if you’re incapacitated.
• Get both durable and healthcare power of attorneys prepared in advance and when in full capacity.
• How the HIPAA form allows your family to have access to your medical records.
• The beneficiary form drives where all your accounts funds go at the time of your passing.
• The importance of having a transfer on death document to simplify things on your bank accounts.

Tweetable Quotes:

• “Without a will, simple things become very complicated.”- Radon Stancil
• “A power of attorney is being appointed to be your agent; someone that’s going to make decisions on your behalf in the case that you’re not able to.”- 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.

Why would cash be able to beat other types of investments? When dealing with a volatile market like we’re currently experiencing, cash can become an important asset class.

Going to cash means selling investments and putting the money on temporary hold as you evaluate the markets. It’s basically a movement to a safety method as you evaluate the market, waiting to redeploy your money when the markets start looking good.

In this episode of the Secure Your Retirement podcast, we explain the benefits of going to cash and share examples of when it has worked out for our clients. Listen in to learn why you shouldn’t be worried about not earning anything when sitting in cash because the purpose of it is to not lose money.    

In this episode, find out:

• The difference in the cash conversation between an active and a passive money manager.
• The meaning of going to cash and why it’s a movement to safety strategy.
• Cash is king when other assets are going down and cash remains neutral.
• The power of cash in protecting you from losing money even though you’re not earning.
• How we went into cash and then back into the money markets safely during the 2020 pandemic.
• The dates on the recent market volatility and our decision to go fully in cash.
• Our objective of buying when we see demand and selling when the demand goes away.

Tweetable Quotes:

• “You’re either risk-on, and you’re fully invested in the market, or you’re risk-off, and you’re fully in cash.”- Murs Tariq
• “If cash is neutral and it’s not going up or going down and if other assets are going down and cash is not, then cash is king.” - 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.

Did you know that you can legally and ethically avoid paying unnecessary taxes by working with the tax code? With tax planning, you can avoid tax risk.

Tax preparation is about being reactive while tax planning is about being proactive all year round every single year. Tax planning years in advance when done correctly, can massively change how much you pay in taxes.

In this episode of the Secure Your Retirement podcast, we talk about the benefits of tax planning in the long term as opposed to tax preparation. Listen in to learn how to pay less tax on your income after retirement if you make the same as before or even more.

In this episode, find out:

●     The benefits of tax planning and being proactive in the tax calendar year.

●     The big difference between tax preparation and planning – being reactive vs. proactive.

●     Minimize tax on social security benefits by planning to get the money into a tax-free scenario.

●     Why do many people make the same amount of income in retirement and even more?

●     The importance of putting all your money in pre-tax retirement assets like the IRAs and 401ks.

●     The importance of Roth conversions as part of your long-term tax planning goal.

●     Plan for your surviving spouse to ensure they aren’t paying more taxes than they’re supposed to.

Tweetable Quotes:

●     “In retirement, taxes can change the situation drastically in your favor as well as cost you a lot of money.” - Radon Stancil

●     “Roth conversions are a big way to start thinking about this long-term tax planning goal.”- 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.