Secure Your Retirement

Taxes aren’t something that put a smile on a lot of people’s faces. Unfortunately, you can’t escape paying taxes – even in retirement. If you’re retired and wondering how 2021 will impact how much tax you pay, how charitable tax deductions work this year, and so on, this is the episode for you.

We’re thrilled to have Tom Turner, CPA and Partner at Heroux and Company, LLP, on the podcast to discuss the ins and outs of taxes in retirement in 2021. Tom walks us through QCD (Qualified Charitable Distribution), which is not subject to typical federal income taxes. Tom explains QCD in more detail and talks about how it can help reduce the amount of tax you pay in retirement, especially if you are 70 years of age or older.

We also cover unemployment benefits, medical deductions, income tax credit, and so much more!

In this episode find out:

• How charitable tax deductions work in 2021
• The difference between non-itemized vs. itemized tax return
• How a qualified charitable distribution works and the tax benefits of doing so
• How to deal with straight donations
• How to approach medical deductions in 2021
• What earned income tax credit is and how it works
• What the child tax credit is this year
• How to deal with a stimulus check concerning your tax return
• Whether unemployment benefits are taxable or not
• Who is eligible to deduct their home office
• Tips for doing your taxes in 2021

Tweetable Quotes:

“Make sure you make all your estimated payments to avoid an underpayment of estimated tax penalty.” – Tom Turner

“Your stimulus check doesn’t go on the tax return.” – Tom Turner

Important Links & Mentions:

• Heroux and Company website
• Call Tom on 9197889570
• Email Tom directly at [email protected]
• Secure Your Retirement Ep.13- Tom Turner – Planning Taxes and Retirement

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.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].

How can an annuity income rider give you more peace of mind in retirement?

There are three main ways to guarantee income in retirement. The first is a pension, the second is Social Security, and the third is adding an income rider to an annuity.

This third option creates, in essence, a personal pension paid directly to you every month for the rest of your life.

In part five of our “Annuities – Why Ever Use Them” series, we discussed how attaching an income rider to an annuity can produce guaranteed income – if you haven’t listened to that episode, please do give it a listen.

In this episode, we continue the conversation by diving further into detail about why we recommend adding an income rider to an annuity. We also explain how the rates of return work for your account value and the income rider.

In this episode find out:

• A quick recap of our annuities series so far
• How to get peace of mind with more guaranteed income
• Why you should add an income rider to your annuity
• How rates of return work for your income rider and your annuity
• How income riders provide guaranteed income even if your annuity account reaches zero

Tweetable Quotes:

“Adding an income rider to your annuity creates your own personal, private pension” – Murs Tariq

“If you've got $200,000 in an annuity with an income rider, that's going to pay you $1,000 a month, or $12,000 a year, guaranteed for the rest of your life.” – Radon Stancil

Important Links & Mentions:

Find parts 1-5 of the “Annuities – Why Ever Use Them” series on your podcast app or watch the video versions on our Secure Your Retirement YouTube channel:

• Part 1: https://youtu.be/uWAEacnGO28​
• Part 2: https://youtu.be/WowKPRfsocQ​
• Part 3: https://youtu.be/aWa6R1OAONg​
• Part 4: https://youtu.be/Sd-9GRHACYk
• Part 5: https://youtu.be/E9HMvSsri-o

Book your free 15-minute call with our advisors to discover how an annuity income rider could benefit your retirement plan: https://pomwealth.net/

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.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].​

Preparing for retirement affects all areas of your life, including your home. It’s both a financial asset and an emotional one. Your home holds more than just stuff, it holds memories, so planning to downsize or even simply declutter your space can feel overwhelming.

As we’re all spending so much more time in our houses, it’s never been more important to ensure that your home works for you.

In this lifestyle podcast episode, we talk to Sherri and John Monte to get their tips and advice for optimizing your living space. Sherri and John are Co-founders of Elegant Simplicity, an award-winning interior design and home organization firm aimed at helping people curate meaningful connections with everything in their home.

In this episode find out:

• What sets Sherri and John apart from other interior designers
• The three-step process to creating a beautiful and practical space
• How to approach organizing and decluttering your home
• Why organization is all about mindset
• How to develop your personal style
• Why you should treat your home as a “love investment”

Tweetable Quotes:

“Our home should be designed to serve us.” – Sherri Monte

“Everything that’s successful in life is systematized.” – John Monte

Important Links & Mentions:

• Sherri and John’s website

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.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to mailto:[email protected].

How do I move money between my retirement accounts without getting taxed?

This is a question we often hear from our clients. You may have multiple retirement accounts, and consolidating them or moving your money into a more manageable account might be appealing to you. But there are rules and limitations to how you can transfer money between them.

In this episode of Retirement In Action on the Secure Your Retirement podcast, we walk you through the process of doing a 401k or IRA rollover, explain why you might want to do one, and when you’ll be eligible.

In this episode find out:

• What a rollover is
• Why a rollover might benefit you
• The difference between a trustee-to-trustee transfer vs. a 60-day rollover
• Why we don’t recommend using a 60-day rollover as a personal loan
• What makes you eligible for a rollover
• How to execute a rollover

Tweetable Quotes:

“Sometimes people think, if I've got a 401k with this big company, I get better rates – that is not true.” – Radon Stancil

“Two ways that make you eligible to do 401k rollovers are reaching age 59 and a half or above, or separation of service.” – 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.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to mailto:[email protected].

Is now a good time to invest in real estate?

Real estate can be a decent way to diversify your portfolio, but you should first consider what type of real estate investor you want to be, active or passive?

There are three main ways you can invest in real estate. You could buy a property and flip it, rent it out, or you could use a real estate investment trust. Someone who’s got experience in all three is Dave Seymour, CEO and Co-founder of real estate investment firm Freedom Venture Investments.

Dave started his career flipping houses (you might recognize him from his A&E TV show, ‘Flipping Boston’) but now takes a lower-risk approach to real estate investment. In this podcast episode, he joins Murs and Radon to share why his strategy changed and his thoughts on investing in the current real estate market.

In this episode find out:

• How Dave began his real estate career
• Dave’s perspective on the current real estate market
• Why real estate investors are anticipating more volatility but expecting new opportunities
• Why Dave has steered away from a high-risk, high-return strategy to a lower-risk, cash-flow focused approach
• What you should consider if you want to invest in real estate
• How a real estate investment trust works
• What real estate investors learned from the 2008 crash and how they’re applying their experience today

Tweetable Quotes:

“We anticipate, as professional real estate investors, an uptick in foreclosures” – Dave Seymour

“True wealth is created through assets.” – Dave Seymour

Important Links & Mentions

• Dave's website, Freedom Venture
• Dave’s LinkedIn
• Call Dave on (781) 922-4418

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.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to mailto:[email protected].

Guaranteed income options can be limited in retirement, but an annuity income rider can help.

Your Social Security benefit and pension are both types of guaranteed income and, from a retirement planning perspective, they should cover your essential income needs. But what if they don’t?

Some annuities offer an income rider feature designed to provide you with guaranteed income for the rest of your life. If you’re considering getting an annuity or already have one, listen to this episode to find out if an income rider could benefit you.

Press “play” to hear Radon and Murs continue their “Annuities – Why Ever Use Them” series by explaining how an income rider works, what the fees are, and what the long-term benefits can be.

In this episode find out:

• Why we recommend a fixed index annuity for retirees
• What guaranteed income is and why it’s important in retirement
• How an annuity income rider provides guaranteed income
• The cost of an annuity income rider
• How an annuity income rider could suit your future

Tweetable Quotes:

“When you add an income feature to an annuity, it gives you lifetime income” – Radon Stancil

“The longer you wait to take income from an annuity, the higher the income will be” – Radon Stancil

Important Links & Mentions

• Part 1 – Annuities – Why Ever Use Them
• Part 2 – Annuities – Why Ever Use Them
• Part 3 ­– Annuities – Why Ever Use Them
• Part 4 – Annuities ­– Why Ever Use Them
• Our website

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.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to mailto:[email protected]. 

Our lives might look very different today from how they looked 12 months ago but we’ve been blown away by how quickly and successfully everyone has adapted.

In this first Wine Down Show of 2021, we discuss how communities and businesses are maintaining connection – even when socially distanced. Listen in as two of our previous podcast guests, Emily Smith and Andrea Groon, join us once again to share their thoughts, and, of course, a glass of wine!

Emily is the Director of Sales and Marketing at Glenaire retirement community, and Andrea is a Licensed Dietitian and Nutritionist. To hear more from them, listen to their previous podcast interviews, "Emily Smith - Continuous Care Retirement Community - What Are Your Options?," and "Andrea Groon - How to be Healthy in 2021."

In this episode find out:

• Which wine has more health benefits
• How retirees embraced video conferencing technology
• How CCRCs are reaching out to future residents
• Why video conferencing could become a permanent part of business communications
• Three small changes you can make today to make yourself healthier
• How activities and groups help CCRC residents stay active

Tweetable Quotes:

“[Technology] has opened our eyes to how we can stay connected.” – Emily Smith

“As you age, you tend to drink less. If you do not consume a lot of fluids, especially water, it can be a challenge to increase that intake.” – Andrea Groon

Important Links & Mentions:

• Andrea’s website
• Glenaire’s website
• Call Glenaire on (919) 460-8095

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.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to mailto:[email protected].

If you’re thinking about long-term care, you may be considering your insurance options.

Your regular health insurance and Medicare won’t cover long-term care, so transferring financial risk to an insurance company can give you peace of mind. But what options are there, and which plan is right for you?

In this episode of the Secure Your Retirement podcast, we’re breaking down long-term care insurance policies and sharing the differences between them. We also cover how you can customize plans to suit your requirements and give you the need-to-knows about traditional and hybrid models.

In this episode find out:

• What qualifies you for long-term care
• How long-term care insurance works
• The differences between traditional and hybrid insurance
• Which traditional insurance factors you can customize
• Why hybrid insurance is often preferred

Tweetable Quotes:

“Traditional long-term care insurance can be custom tailored to whatever you're looking for and how much risk you want to cover” ­– Murs Tariq

“A lot of people have favored the hybrid long-term care insurance model over the traditional” – Radon Stancil

Important Links & Mentions:

• Book a complimentary call
• Our website

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.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to mailto:[email protected].

Retirement is often associated with sitting back, relaxing, and pursuing hobbies that you might not have had time for before. Many retirees also use their new-found free time to expand their minds.

No matter what stage of life you’re in, it’s never too late to find joy in art. Art is a broad topic with a vast and fascinating history that you may not know about. Jennifer Dasal joins us on this episode to share how art can be accessible, fun, and interesting at any age.

Jennifer is the Curator of Modern and Contemporary Art at the North Carolina Museum of Art. She’s also an author and creator of the ArtCurious podcast, where she reveals unexpected, slightly odd, and strangely wonderful stories hidden in art history.

If you enjoy this episode and want to hear more like this, please let us know by giving us a 5-star rating.

In this episode find out:

• What led Jennifer to pursue a career in art
• What an art curator is
• How a “conspiracy” about the Mona Lisa inspired Jennifer to start a podcast and write a book
• Where to find and buy art locally
• Jennifer’s local and international museum recommendations
• How museums have adapted since COVID-19

Tweetable Quotes:

“Art is just like anything else, like movies or music. You're going to be drawn to something probably very different to the person next to you.” – Jennifer Dasal

“You don't have to understand everything, nor do you have to like everything.” – Jennifer Dasal

Important Links & Mentions

• Jennifer’s podcast
• Jennifer’s book

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.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].

How does a fixed index annuity grow my money risk-free?

As you approach retirement, you might become increasingly risk-averse with your money. Often this means accepting lower rates of return in exchange for guaranteed money safety. But fixed index annuities can provide a good solution for those still seeking higher returns but who don’t want any risk.

This is the fourth installment in our “Annuities – Why Ever Use Them” series, so if you’ve missed parts 1, 2, or 3, please scroll down and click the links to listen to the previous episodes.

In this podcast episode, we detail how insurance companies manage fixed index annuities and break down how they earn interest, so you can understand how this product could benefit you.

In this episode find out:

• A brief recap of the different types of annuity
• How fixed index funds earn interest, and how caps protect against market volatility
• How insurance companies guarantee your principal risk-free
• Why we recommend adding a fixed index annuity to your retirement portfolio

Tweetable Quotes:

“Fixed index annuities can have a place within our portfolio when it comes to planning for retirement” – Radon Stancil

“If you're in the fixed indexed annuity environment, the worst you can do in an annual reset period is earn zero” – Murs Tariq

Important Links & Mentions:

• Part 1 – Annuities – Why Ever Use Them
• Part 2 – Annuities - Why Ever Use Them
• Part 3 – Fixed Annuities - Everything You Need to Know
• POMWealth.net

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.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to mailto:[email protected].