Retirement planning is an extremely important part of any financial plan. Your retirement accounts will likely make up a large portion of your wealth, so you want to make sure that they're set up in the best possible way.
Today, we'll take a look at why retirement tax planning is so critical, and how it affects you and your family's financial future. In addition, I will tackle some of the most common mistakes made by people in their early years of retirement, and how to avoid them!

In this episode, you will discover…
A comparison of Roth IRAs and Traditional IRAs
Determine the cost of your retirement
Strategy on which asset to tap first
Understanding taxes and retirement
Social security earning limit
What is the IRMAA cliff?
Learn about Medicare's unique rules and penalties
How and when to use Taxable, Tax-Deferred, and Tax-Rate Assets
Resources Mentioned in this Podcast:
Contact Dave for a free 30mins strategy session: ‪(612) 284-2409
Email: assistant@daviddenniston.com
For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com
----more--------more--------more----
Investment advice is only offered in jurisdictions where Centurion Financial Strategies, LLC (“Centurion”) is appropriately registered or exempt from registration. Our Form ADV Part 2 brochure can be obtained free of charge at https://adviserinfo.sec.gov by searching for our firm by name or its unique CRD number (316454). This podcast is not a solicitation to provide advisory services in any jurisdiction in which we are not appropriately registered or excluded from registration.
The information, statements, and opinions contained in this podcast have been obtained from or are based upon information obtained from sources which we believe to be reliable, but we do not warrant or guarantee the timeliness or accuracy of any such information. This podcast is intended for informational purposes only and should not be construed as personalized investment, tax, or legal advice. Opinions expressed by any guest are their own opinions and do not necessarily reflect the firm’s views. You should carefully consider your unique financial circumstances and needs prior to making any investment in securities or purchasing any insurance products. Past performance is not indicative of future results. Investing in securities involves the risk of loss.
Insurance products are backed by the financial strength and claims-paying ability of the issuing insurance company and may be subject to restrictions, limitations, and early withdrawal fees which vary by issuer. You should consider the charges, risks, expenses, and investment objectives of any insurance products before entering a contract.

S8, Episode 25 - Tax Planning in the 4 Stages of Retirement

Helping Physicians Slash Their Debt, Slash Their Taxes, and Live a Liberated Lifestyle

Business

Investing

Careers

Management & Marketing

Business News

Shopping

Hello, my friends, this is Dave Denniston, and welcome back to another episode of Freedom Formula for Physician's Podcast.  The podcast is dedicated to helping doctors like you slash your debt, slash your taxes and live a liberated lifestyle.  As you know, there has been a lot of focus on tax reform.  This will be my final one for the current future, and today's focus will be small businesses-S-CORPs, sole proprietorships, etc.

In this podcast you will:
Discover how the new tax reform will impact small businesses
Learn the difference between a corp and a sole proprietorship
Discover how taxes differ between FICAs-Social Security and Medicare
Get lots of questions answered from our episode with Craig Cody in February 2018
Learn the difference between "above the line" and "below the line" tax deductions
Uncover the still looming question, "Does the taxable income have to do with all of your income, or is it just based on your business income?"
Resources mentioned in this podcast:
How Pass-Through Income Will Be Taxed In 2018 For Small Business Owners
Tax Reform! How Physicians and the Self-Employed are Affected
Individual Tax Planning Under The Tax Cuts And Jobs Act Of 2017
Trump Tax Reform Calculator
A Tax Professional’s Take on Trump’s Tax Plan
If you are confused about this tax stuff and you want the latest copy of the Tax Reduction Prescription and that calculator I was talking about in January, there's no better time to grab that than right now! Text LESS TAXES to 44222.
If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my websitewww.doctorfreedompodcast.com.
Remember, make sure to slash your debt, slash your taxes, and live a liberated lifestyle.
 
----more--------more----
Investment advice is only offered in jurisdictions where Centurion Financial Strategies, LLC (“Centurion”) is appropriately registered or exempt from registration. Our Form ADV Part 2 brochure can be obtained free of charge at https://adviserinfo.sec.gov by searching for our firm by name or its unique CRD number (316454). This podcast is not a solicitation to provide advisory services in any jurisdiction in which we are not appropriately registered or excluded from registration.
The information, statements, and opinions contained in this podcast have been obtained from or are based upon information obtained from sources which we believe to be reliable, but we do not warrant or guarantee the timeliness or accuracy of any such information. This podcast is intended for informational purposes only and should not be construed as personalized investment, tax, or legal advice. Opinions expressed by any guest are their own opinions and do not necessarily reflect the firm’s views. You should carefully consider your unique financial circumstances and needs prior to making any investment in securities or purchasing any insurance products. Past performance is not indicative of future results. Investing in securities involves the risk of loss.
Insurance products are backed by the financial strength and claims-paying ability of the issuing insurance company and may be subject to restrictions, limitations, and early withdrawal fees which vary by issuer. You should consider the charges, risks, expenses, and investment objectives of any insurance products before entering a contract.

[REPLAY] S4 Episode 14-How the New Tax Reform Impacts You-Part 6-Small Business Owner, S Corps or Sole Proprietorship

Hello, my friends, this is Dave Denniston, and welcome back to another episode of Freedom Formula for Physician's Podcast.  Joining us for this episode is a three-time guest.  He is an author, mortgage lender, specializing in physicians, dentists, CRNAs, and PAs, and you'll hear him on his own podcast, Physician Financial Success Podcast.  Please help me welcome Josh Mettle. 
In the past, we've discussed buying homes and rental real estate.  This is a great time of the year to discuss these topics if you're transitioning to practice, buying your first home.  Or maybe you've been an attending for the last year or two and now you're considering buying your first home.  This episode is just for you. 

 
In this podcast episode you will:
Hear about the two colliding forces that will cause mortgage interest rates to go up from here on out, and how to prepare yourself for it
Learn why mortgage rates are starting to move up, yields are moving higher, how that is affecting the season of buying bonds and how that will make an impact on home purchases
Discover how new home sales, existing homes, and permits might be affecting demand and supply
Get great advice on how to look at purchasing and owning your home with the "big picture in mind" vs. your home-owning you
Learn why living like a resident financially after transitioning to practice for the first couple of years and paying off your student loans quickly will help you be better financially secure for the future
Resources mentioned in this episode:
Josh Mettle- Real Estate Smashing Failures & Glorious Successes
The Tax Reduction Prescription with Josh Mettle
Josh Mettle- The Pitfalls of Physician Mortgages
www.doctorfreedompodcast.com/homevalue
Physician Financial Success Podcast

 
 
If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my websitewww.doctorfreedompodcast.com.
If you are confused about this tax stuff and you want the latest copy of the Tax Reduction Prescription and that calculator I was talking about in January, there's no better time to grab that than right now! Text LESSTAXES to 44222.
Remember, make sure to slash your debt, slash your taxes, and live a liberated lifestyle.
 
----more--------more----
Investment advice is only offered in jurisdictions where Centurion Financial Strategies, LLC (“Centurion”) is appropriately registered or exempt from registration. Our Form ADV Part 2 brochure can be obtained free of charge at https://adviserinfo.sec.gov by searching for our firm by name or its unique CRD number (316454). This podcast is not a solicitation to provide advisory services in any jurisdiction in which we are not appropriately registered or excluded from registration.
The information, statements, and opinions contained in this podcast have been obtained from or are based upon information obtained from sources which we believe to be reliable, but we do not warrant or guarantee the timeliness or accuracy of any such information. This podcast is intended for informational purposes only and should not be construed as personalized investment, tax, or legal advice. Opinions expressed by any guest are their own opinions and do not necessarily reflect the firm’s views. You should carefully consider your unique financial circumstances and needs prior to making any investment in securities or purchasing any insurance products. Past performance is not indicative of future results. Investing in securities involves the risk of loss.
Insurance products are backed by the financial strength and claims-paying ability of the issuing insurance company and may be subject to restrictions, limitations, and early withdrawal fees which vary by issuer. You should consider the charges, risks, expenses, and investment objectives of any insurance products before entering a contract.

[REPLAY] S4 Episode 13-Home Buying and Interest Rate Update With Josh Mettle of Physician Financial Success

Welcome back my friends to the latest episode of Freedom Formula for Physicians' Podcast.  I'm honored to have a guest on here with us today that has tons of experience in podcasting. With over 6 million downloads of his podcast and an accomplished career in the financial world, he is now enjoying life, traveling the world, and helping people with financial issues and questions. Please help me welcome David Stein of Money for Rest of Us.  

In this podcast episode you will:  
Be motivated to not just settle with getting by
Learn how to think "forward" as our economy is always changing
Hear David's story of starting with nothing and moving to prosperity based on moving his thoughts to actions and taking necessary risks
Discover David's formula for how his podcast is growing-it involves investing in his listeners and giving away resources for FREE
Learn what some of the biggest financial pitfalls can be
Be motivated to develop a lifestyle business after retiring, especially if you retire early 
Resources mentioned in this episode:
Money For The Rest of Us Podcast 

If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my websitewww.doctorfreedompodcast.com.
If you are confused about this tax stuff and you want the latest copy of the Tax Reduction Prescription and that calculator I was talking about in January, there's no better time to grab that than right now! Text LESSTAXES to 44222.
Remember, make sure to slash your debt, slash your taxes, and live a liberated lifestyle.
 
----more--------more----
Investment advice is only offered in jurisdictions where Centurion Financial Strategies, LLC (“Centurion”) is appropriately registered or exempt from registration. Our Form ADV Part 2 brochure can be obtained free of charge at https://adviserinfo.sec.gov by searching for our firm by name or its unique CRD number (316454). This podcast is not a solicitation to provide advisory services in any jurisdiction in which we are not appropriately registered or excluded from registration.
The information, statements, and opinions contained in this podcast have been obtained from or are based upon information obtained from sources which we believe to be reliable, but we do not warrant or guarantee the timeliness or accuracy of any such information. This podcast is intended for informational purposes only and should not be construed as personalized investment, tax, or legal advice. Opinions expressed by any guest are their own opinions and do not necessarily reflect the firm’s views. You should carefully consider your unique financial circumstances and needs prior to making any investment in securities or purchasing any insurance products. Past performance is not indicative of future results. Investing in securities involves the risk of loss.
Insurance products are backed by the financial strength and claims-paying ability of the issuing insurance company and may be subject to restrictions, limitations, and early withdrawal fees which vary by issuer. You should consider the charges, risks, expenses, and investment objectives of any insurance products before entering a contract.

[REPLAY] S4 Episode 12-”Taking Wise and Necessary Risks”-Enjoying Life with David Stein from Money for the Rest of Us

Hello my friends, welcome back to another episode of Freedom Formula for Physician's Podcast, the podcast dedicated to helping doctors like you slash your debt, slash your taxes, and live a liberated lifestyle.  
I am excited for the start of the year here, as we are well on our way into 2018.  I would like to ask a favor-could you take 5 minutes or less to rate and review the podcast on iTunes?   I'd like to give some listener love to a few people who have recently received the podcast:
Todd, KS (paraphrased)-I came across this podcast in early 2017, and it has been a wonderful addition to my morning routine and commute.  Dave has great guests on and gets right to their personal stories. These stories include financial struggles and pearls of wisdom-an an enjoyable listen. Highly recommended!
Dr. Mike WM-An excellent podcast for physician's-young and old.  As doctors, we get zero business education in medical school, and Dave gives practical advice to help us on our financial journeys. Highly recommended!
There have been some BIG changes with taxes, and I've had a huge focus on addressing these changes between 2017 and 2018!  And as a friendly reminder, you can text LESSTAXES to 44222, and that will give you all kinds of information with the tables I've been going over and possibly help you to apply for your specific situation.
In this podcast you will:
Learn how itemizing is a much more difficult barrier for residents and fellows to get over
Discover the difference in tax savings between being single and being married
If you think you may be paying more taxes than the numbers I've crunched, I'd love to hear from you and look over those numbers with you to see if I might be off on your calculations or if you might be off on your calculations.  Also remember, you can e-mail me at dave@doctorfreedompodcast.com.



 
----more--------more----
Investment advice is only offered in jurisdictions where Centurion Financial Strategies, LLC (“Centurion”) is appropriately registered or exempt from registration. Our Form ADV Part 2 brochure can be obtained free of charge at https://adviserinfo.sec.gov by searching for our firm by name or its unique CRD number (316454). This podcast is not a solicitation to provide advisory services in any jurisdiction in which we are not appropriately registered or excluded from registration.
The information, statements, and opinions contained in this podcast have been obtained from or are based upon information obtained from sources which we believe to be reliable, but we do not warrant or guarantee the timeliness or accuracy of any such information. This podcast is intended for informational purposes only and should not be construed as personalized investment, tax, or legal advice. Opinions expressed by any guest are their own opinions and do not necessarily reflect the firm’s views. You should carefully consider your unique financial circumstances and needs prior to making any investment in securities or purchasing any insurance products. Past performance is not indicative of future results. Investing in securities involves the risk of loss.
Insurance products are backed by the financial strength and claims-paying ability of the issuing insurance company and may be subject to restrictions, limitations, and early withdrawal fees which vary by issuer. You should consider the charges, risks, expenses, and investment objectives of any insurance products before entering a contract.

[REPLAY] S4 Episode 11-How the Tax Reform Impacts You-Part 5-Residents and Fellows

Hello, my friends, this is Dave Denniston, and welcome back to another episode of Freedom Formula for Physician's Podcast, the podcast dedicated to helping doctors like you slash your debt, slash your taxes, and live a liberated lifestyle.  And today we're focusing on the debit side of that equation.  
Our next guest founded Student Loan Planner after helping his physician now wife, now wife navigates ridiculously complex student loan repayments following med school.  To date, he has personally consulted on over $200 million in student debt, personally more than anyone else in the country.  And this is a guy after my heart's own heart-he is an Eagle Scout, a CFA (chartered financial analyst, he used to do a bunch of trading back in the day.  Now, his focus is on student loan debt payment.  Please help me welcome Travis Hornsby.
 

 
In this podcast you will:
 
Learn how to make a strategic plan when graduating from med school with significant debt
Get an inside look at Public Service Loan Forgiveness (PSLF) and how and when to apply
Discover how Travis and his wife Christine navigated through the FFEL (Federal Family Education Loan) program
Why you shouldn't consolidate all your loans at END of your residency
Learn about the Direct Loan Program
Why refinancing may be the best option to repay your student loans during residency
Resources mentioned in this podcast:
Contact Travis directly at travis@studentloanplanner.com
Student Loan Planner

 "To learn more about Student Loan Planner's services, see if a student loan consultant is right for you.
 
If you're confident you want to pay back your med school loans as fast as possible, check out these cashback bonuses for refinancing student loans."

 


If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my websitewww.doctorfreedompodcast.com.
If you are confused about this tax stuff and you want the latest copy of the Tax Reduction Prescription and that calculator I was talking about in January, there's no better time to grab that than right now! Text LESSTAXES to 44222.
Remember, make sure to slash your debt, slash your taxes, and live a liberated lifestyle.
 
----more--------more----
Investment advice is only offered in jurisdictions where Centurion Financial Strategies, LLC (“Centurion”) is appropriately registered or exempt from registration. Our Form ADV Part 2 brochure can be obtained free of charge at https://adviserinfo.sec.gov by searching for our firm by name or its unique CRD number (316454). This podcast is not a solicitation to provide advisory services in any jurisdiction in which we are not appropriately registered or excluded from registration.
The information, statements, and opinions contained in this podcast have been obtained from or are based upon information obtained from sources which we believe to be reliable, but we do not warrant or guarantee the timeliness or accuracy of any such information. This podcast is intended for informational purposes only and should not be construed as personalized investment, tax, or legal advice. Opinions expressed by any guest are their own opinions and do not necessarily reflect the firm’s views. You should carefully consider your unique financial circumstances and needs prior to making any investment in securities or purchasing any insurance products. Past performance is not indicative of future results. Investing in securities involves the risk of loss.
Insurance products are backed by the financial strength and claims-paying ability of the issuing insurance company and may be subject to restrictions, limitations, and early withdrawal fees which vary by issuer. You should consider the charges, risks, expenses, and investment objectives of any insurance products before entering a contract.

S8, Episode 25 - Tax Planning in the 4 Stages of Retirement

Download our free app to listen on your phone