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The Retirement Engineer with Jim Kruzan - Your Path to a Bigger, Bolder Retirement
The Retirement Engineer with Jim Kruzan - Your Path to a Bigger, Bolder Retirement episodes
- Milestone Moments: Navigating 7 Key Ages in Retirement Planning (Ep. 17)
Between 50 and 72, there are significant birthdays that can impact your retirement finances.
These age-based milestones can help you grow your retirement nest egg, avoid financial penalties, withdraw your retirement funds early, and more!
In this episode, Jim Kruzan, CFP®, CRPC®, highlights seven legislative birthdays that every retiree or soon-to-be retiree should circle on their calendars. By the episode’s end, you’ll realize why planning your retirement cash flows is crucial before these milestones creep up on you!
Jim discusses:
- Benefits of turning 50, including catch-up contributions and early retirement for qualified public safety workers.
- How to make penalty-free withdrawals at 55 and 59.5 (from eligible plans)
- The difference between taking Social Security at 62, 70, and anywhere in between
- Medicare’s 7-month enrollment window to avoid penalties
- The impact of Secure Act 2.0 on the required minimum distribution age
- And more
Resources:
- The 5 Most Important Questions to Ask a Financial Advisor Before Hiring Them
- 7 Common Retirement Planning Mistakes (And How To Avoid Them)
- Start Designing Your Bigger Bolder Retirement
- Top 5 Social Security Filing Mistakes to Avoid (Ep. 14)
- Medicare 101: The Ultimate Guide (Ep. 16)
- 401(k) and IRA Contributions Limits
- Exceptions to Tax on Early Distributions
- Catch-Up Contributions
- 72(t) Substantially Equal Periodic Payments
- The Rule of 55
- IRA FAQ’s – Distributions
- Medicare.gov
- Social Security Benefits
- Required Minimum Distributions
- Secure Act 2.0
Connect with Jim Kruzan:
- (800) 638-6900
- Kaydan Wealth Management
- LinkedIn: Jim Kruzan
- LinkedIn: Kaydan Wealth Management
- Facebook: Kaydan Wealth Management
- Instagram: Kaydan Wealth Management
- YouTube: Kaydan Wealth Management
- Twitter: Kaydan Wealth Management
38 min - Medicare 101: The Ultimate Guide (Ep. 16)
Imagine a retirement where you’re free from the fear of rising, and sometimes unexpected, medical bills.
In a world of ever-rising healthcare costs, a solid understanding of Medicare is a necessity!
In this episode, Jim Kruzan, CFP®, CRPC®, unravels the intricacies of Medicare and paves the path for a more simplified Medicare experience. Whether you’re a decade away from retirement or just around the corner, you’ll learn actionable insights to save stress, time, and money.
Jim discusses:
- The difference between Medicare and Medicaid
- Core components of Medicare (parts A, B, C, and D)
- How the ‘Donut’ hole may unexpectedly increase your prescription drug costs
- Important enrollment deadlines to avoid hefty penalties
- The financial impact of Medicare on your retirement plan
- And more
Resources:
- The 5 Most Important Questions to Ask a Financial Advisor Before Hiring Them
- 7 Common Retirement Planning Mistakes (And How To Avoid Them)
- Start Designing Your Bigger Bolder Retirement
- Medicare.gov
- What’s NOT covered by Medicare Part A or Part B?
- Medicare Enrollment Planning Cheat Sheet
- Medicare Costs
- Children’s Health Insurance Program
- Medicaid.gov
- Affordable Care Act
- UnitedHealthcare Medicare Advantage
- Inflation Reduction Act of 2022
- Part D Donut Hole
Connect with Jim Kruzan:
- (800) 638-6900
- Kaydan Wealth Management
- LinkedIn: Jim Kruzan
- LinkedIn: Kaydan Wealth Management
- Facebook: Kaydan Wealth Management
- Instagram: Kaydan Wealth Management
- YouTube: Kaydan Wealth Management
- Twitter: Kaydan Wealth Management
42 min - Getting Your Retirement Back On Track (Ep. 15)
Picture this: You’ve crafted the perfect retirement plan. You’ve dreamt about it, and it’s finally here. But then, life throws you a curveball. Suddenly, your well-laid path takes an unexpected detour!
Even the most carefully crafted plans must adapt to changing circumstances.
In this episode, Jim Kruzan, CFP®, CRPC®, shares practical strategies to get your retirement back on track.
Jim discusses:
- Signs that your retirement may be off track
- Budgeting strategies to cut unnecessary expenses without sacrificing quality of life
- How “safe withdrawal rates” can guide portfolio adjustments
- How to weather market downturns by using debt strategically
- And more
Resources:
- The 5 Most Important Questions to Ask a Financial Advisor Before Hiring Them
- 7 Common Retirement Planning Mistakes (And How To Avoid Them)
- Start Designing Your Bigger Bolder Retirement
- Economic Well-Being of U.S. Households
- Top 5 Social Security Filing Mistakes to Avoid (Ep. 14)
- Social Security Benefits
Connect with Jim Kruzan:
- (800) 638-6900
- Kaydan Wealth Management
- LinkedIn: Jim Kruzan
- LinkedIn: Kaydan Wealth Management
- Facebook: Kaydan Wealth Management
- Instagram: Kaydan Wealth Management
- YouTube: Kaydan Wealth Management
- Twitter: Kaydan Wealth Management
32 min - Top 5 Social Security Filing Mistakes to Avoid (Ep. 14)
“When should I start taking Social Security?”
“Can I claim spousal benefits? If yes, how much?”
“How will my Social Security income be taxed?”
These are some of the questions that many retirees (and soon-to-be retirees) struggle with!
In this eye-opening episode, Jim Kruzan, CFP®, CRPC®, explains the top five Social Security filing mistakes to avoid and how to make well-informed decisions that can potentially make or break your retirement!
Jim discusses:
- Benefits of delaying Social Security until age 70 (and what happens if you file early)
- Eligibility criteria for spousal benefits and the ideal time to claim them
- The “earnings test” you should know about before filing for Social Security
- How to maximize survivor benefits
- How to minimize the potential tax burden on Social Security
- And more
Resources:
- The 5 Most Important Questions to Ask a Financial Advisor Before Hiring Them
- 7 Common Retirement Planning Mistakes (And How To Avoid Them)
- Start Designing Your Bigger Bolder Retirement
- How is Social Security financed?
- History of Social Security
- Social Security Retirement Benefits
- List of various Social Security Benefits
- Ida May Fuller – The first Social Security Beneficiary
- Social Security Research, Statistics, and Policy Analysis
- Retirement Earnings Test
- Canceling your Social Security Benefits
- Social Security benefits for family and spouses
- Social Security Survivor Benefits
- Income Taxes and Your Social Security Benefits
Connect with Jim Kruzan:
- (800) 638-6900
- Kaydan Wealth Management
- LinkedIn: Jim Kruzan
- LinkedIn: Kaydan Wealth Management
- Facebook: Kaydan Wealth Management
- Instagram: Kaydan Wealth Management
- YouTube: Kaydan Wealth Management
- Twitter: Kaydan Wealth Management
47 min - 7 Common Retirement Planning Mistakes (And How To Avoid Them) (Ep. 13)
Do you know what makes or breaks your retirement?
The assumptions and financial choices that might seem trivial at first, but have a significant impact later down the road!
In this episode, Jim Kruzan, CFP®, CRPC®, highlights 7 common retirement planning mistakes, drawing on decades of experience as a financial advisor. He also shares actionable ideas to avoid those mistakes.
Jim discusses:
- How to budget for retirement without giving up the little joys in life
- Why you should never underestimate healthcare costs
- Considerations for pension planning, including age, health, and spousal benefits
- The “set it and forget it” mentality that can potentially jeopardize your retirement
- The importance of seeking professional financial guidance
- And more
Resources:
- Lump Sum Decision 🡪 Free Hurdle Rate Analysis
- The 5 Most Important Questions to Ask a Financial Advisor Before Hiring Them
- 7 Common Retirement Planning Mistakes (And How To Avoid Them)
- Start Designing Your Bigger, Bolder Retirement
Connect with Jim Kruzan:
- (800) 638-6900
- Kaydan Wealth Management
- LinkedIn: Jim Kruzan
- LinkedIn: Kaydan Wealth Management
- Facebook: Kaydan Wealth Management
- Instagram: Kaydan Wealth Management
- YouTube: Kaydan Wealth Management
- Twitter: Kaydan Wealth Management
40 min - How Much Money Do You Need To Retire? (Ep. 12)
How can you save for retirement if you don’t know how much money you’ll need?
It’s time to calculate your financial finish line so you don’t run out of money during retirement!
In this episode, Jim Kruzan, CFP®, CRPC®, shares easy-to-follow methods and rules of thumb to estimate your retirement expenses and income — and what to do if you have no idea where to begin.
Jim discusses:
- Key points to discuss with your spouse about your “dream retirement”
- Why you should categorize your retirement expenses into needs, wants, and wishes
- How to account for major lifestyle adjustments and rising healthcare costs
- Rules of thumb to quickly check if you’re on track
- And more
Resources:
- The 5 Most Important Questions to Ask a Financial Advisor Before Hiring Them
- 7 Common Retirement Planning Mistakes (And How To Avoid Them)
- Start Designing Your Bigger, Bolder Retirement
- Social Security Cost-Of-Living Adjustments (last 50 years)
- Planning for Health Care Costs in Retirement
Connect with Jim Kruzan:
- (800) 638-6900
- Kaydan Wealth Management
- LinkedIn: Jim Kruzan
- LinkedIn: Kaydan Wealth Management
- Facebook: Kaydan Wealth Management
- Instagram: Kaydan Wealth Management
- YouTube: Kaydan Wealth Management
- Twitter: Kaydan Wealth Management
About Your Host:
Balancing the responsibilities of Founder and Senior Wealth Advisor puts Jim in a unique position at Kaydan Wealth Management. As the Founder, Jim is responsible for guiding the direction of the firm’s moral compass and ensuring the entire team is advancing its mission statement. As Senior Wealth Advisor, he manages the firm’s largest and most complex client relationships and is also hands-on with the development of comprehensive, process-driven wealth solutions.
38 min - Maximizing Your 529: The Power of Tax-Free Education Savings (Ep. 11)
Did you know that the average cost of college in the United States is a staggering $35,551 per student per year, including books, supplies, and daily living expenses?
That’s a hefty price tag that can leave many parents and students feeling overwhelmed.
In this episode, Jim Kruzan, CFP®, CRPC®, explores the world of 529 plans and how they can help fund your child’s education while prioritizing your retirement savings. Jim shares how these plans offer flexibility, with options for prepaid tuition or college savings, and can be used for various educational expenses. Additionally, Jim explains how these plans are portable, allowing funds to be transferred between family members.
Jim discusses:
- What a 529 plan is
- The limitations and drawbacks of a prepaid tuition plan
- The tax advantages and investment options of a college savings plan
- The expenses that can be covered by 529 plans
- How 529 accounts can be moved between beneficiaries
- The advantages of the new legislation allowing the transfer of funds from a 529 account to a Roth IRA after 15 years
- And more!
Resources:
- The 5 Most Important Questions to Ask a Financial Advisor Before Hiring Them
- 7 Common Retirement Planning Mistakes (And How To Avoid Them)
- Start Designing Your Bigger Bolder Retirement
- Average Cost of College and Tuition
- Learn more about Qualified Higher Education Expenses
- Learn more about 529 College Savings Plans
- ABLE Accounts
- Federal Student Aid (FSA)
- U.S. Bankruptcy Code Section 541(b)
- Secure Act 2.0 529 Rollover Rule
Connect with Jim Kruzan:
- (800) 638-6900
- Kaydan Wealth Management
- LinkedIn: Jim Kruzan
- LinkedIn: Kaydan Wealth Management
- Facebook: Kaydan Wealth Management
- Instagram: Kaydan Wealth Management
- YouTube: Kaydan Wealth Management
- Twitter: Kaydan Wealth Management
44 min - Are Health Savings Accounts Better Than a 401(k)? (Ep. 10)
Have you ever heard about the Health Savings Account (HSA) used in retirement planning?
Simply put, if a 401(k) and a Roth IRA were to produce an offspring, it would be the HSA — because of its unique tax advantages that gives you the best of both accounts!
In this insightful episode, Jim Kruzan, CFP®, CRPC®, makes a compelling case for Health Savings Accounts, especially when 401(k) plans have long been hailed as the go-to option for retirement. He explains how HSAs can help you achieve a bigger, bolder retirement due to their tax benefits, flexibility, and attractive contribution limits.
Jim discusses:
- The triple tax advantages of HSAs (contribution, growth, and withdrawal)
- What happens to your HSA if you change your employer
- How HSAs differ from Flexible Spending Accounts (FSAs) and 401(k) plans
- How HSAs can help reduce your total medical expenses in retirement
- The limitations of an HSA
- And more
Resources:
- The 5 Most Important Questions to Ask a Financial Advisor Before Hiring Them
- 7 Common Retirement Planning Mistakes (And How To Avoid Them)
- Start Designing Your Bigger, Bolder Retirement
- Learn more about Health Savings Accounts (HSA)
- Learn more about 401(k)s
- Learn more about Flexible Spending Accounts (FSA)
Connect with Jim Kruzan:
- (800) 638-6900
- Kaydan Wealth Management
- LinkedIn: Jim Kruzan
- LinkedIn: Kaydan Wealth Management
- Facebook: Kaydan Wealth Management
- Instagram: Kaydan Wealth Management
- YouTube: Kaydan Wealth Management
- Twitter: Kaydan Wealth Management
About Your Host:
Balancing the responsibilities of Founder and Senior Wealth Advisor puts Jim in a unique position at Kaydan Wealth Management. As the Founder, Jim is responsible for guiding the direction of the firm’s moral compass and ensuring the entire team is advancing its mission statement. As Senior Wealth Advisor, he manages the firm’s largest and most complex client relationships and is also hands-on with the development of comprehensive, process-driven wealth solutions.
28 min - Is Wealth Management Only for the Wealthy? (Ep. 9)
How much money do you need to have access to wealth management?
In a world where wealth seems synonymous with exclusivity, it’s time to shatter the misconception that wealth management is reserved for the affluent few!
In this eye-opening episode, Jim Kruzan, CFP®, CRPC®, empowers individuals at every stage of life to make informed decisions about their financial future, whether it’s planning for retirement, funding higher education, or conquering debt.
Jim discusses:
- The invaluable power of accessible wealth management
- 5 stages of wealth creation to navigate life’s most important events
- How Kaydan Wealth Management’s suite of scalable services makes wealth management easily accessible
- Why early career choices, seemingly unrelated, may morph into large deficits later in life
- And more
Resources:
- The 5 Most Important Questions to Ask a Financial Advisor Before Hiring Them
- 7 Common Retirement Planning Mistakes (And How To Avoid Them)
- Start Designing Your Bigger, Bolder Retirement
Connect with Jim Kruzan:
- (800) 638-6900
- Kaydan Wealth Management
- LinkedIn: Jim Kruzan
- LinkedIn: Kaydan Wealth Management
- Facebook: Kaydan Wealth Management
- Instagram: Kaydan Wealth Management
- YouTube: Kaydan Wealth Management
- Twitter: Kaydan Wealth Management
About Your Host:
Balancing the responsibilities of Founder and Senior Wealth Advisor puts Jim in a unique position at Kaydan Wealth Management. As the Founder, Jim is responsible for guiding the direction of the firm’s moral compass and ensuring the entire team is advancing its mission statement. As Senior Wealth Advisor, he manages the firm’s largest and most complex client relationships and is also hands-on with the development of comprehensive, process-driven wealth solutions.
34 min - Breaking Down the Bigger Bolder Retirement Formula, Part 4: Relationship Management (Ep. 8)
Many people overlook relationship management in retirement planning, but it plays a crucial role in our Bigger Bolder Retirement Formula.
In fact, we see it as the glue that holds the entire retirement planning process together!
As we wrap up our thought-provoking mini-series, Jim Kruzan, CFP®, CRPC®, highlights the profound impact of nurturing meaningful connections and unveils key strategies for leveraging relationships to unlock an extraordinary retirement experience.
Jim discusses:
- The significance of the “who, what, where, when, why, and how” in client relationship management
- Why you should work with an advisor who shares your values
- How we engage outside expertise in financial and retirement planning
- How relationship management may improve your bottom line (based on research)
- And more
Resources:
- Bigger Bolder Retirement Formula
- The 5 Most Important Questions to Ask a Financial Advisor Before Hiring Them
- 7 Common Retirement Planning Mistakes (And How To Avoid Them)
- Get Started Designing Your Bigger, Bolder Retirement
- Breaking Down the Bigger Bolder Retirement Formula, Part 1: Investment Management (Ep. 5)
- Breaking Down the Bigger Bolder Retirement Formula, Part 2: Wealth Enhancement and Transfer (Ep. 6)
- Breaking Down the Bigger Bolder Retirement Formula, Part 3: Wealth Protection and Charitable Giving (Ep. 7)
- Vanguard Study: Putting a Value on Your Value: Quantifying Advisor’s Alpha
Connect with Jim Kruzan:
- (800) 638-6900
- Kaydan Wealth Management
- LinkedIn: Jim Kruzan
- LinkedIn: Kaydan Wealth Management
- Facebook: Kaydan Wealth Management
- Instagram: Kaydan Wealth Management
- YouTube: Kaydan Wealth Management
- Twitter: Kaydan Wealth Management
About Your Host:
Balancing the responsibilities of Founder and Senior Wealth Advisor puts Jim in a unique position at Kaydan Wealth Management. As the Founder, Jim is responsible for guiding the direction of the firm’s moral compass and ensuring the entire team is advancing its mission statement. As Senior Wealth Advisor, he manages the firm’s largest and most complex client relationships and is also hands-on with the development of comprehensive, process-driven wealth solutions.
37 min
About The Retirement Engineer with Jim Kruzan - Your Path to a Bigger, Bolder Retirement
From the publisher's feed
Wealth management is not just for the wealthy. Everyone is entitled to their best retirement possible. Welcome to The Retirement Engineer with Jim Kruzan – Your Path to a Bigger, Bolder Retirement,…
brought to you by Kaydan Wealth Management, a firm that specializes in serving the mobility technology industry. In this podcast, we help you maximize your resources and engineer your best retirement through a process-driven approach, so you can get the little things right. Drawing from years of expertise, Jim and his guests will simplify complex wealth management strategies and explore actionable ideas to help you protect your hard-earned wealth and take control of your future.