In this episode of the Retirement Planning Podcast, host Darrin McComas from Evergreen Wealth Advisors discusses the critical aspect of tax planning in retirement, as part of the series 'It's Not What You Make, It's What You Keep'. Darrin emphasizes the importance of having a long-term retirement plan rather than chasing stock market returns. He highlights the necessity of being proactive about tax planning to mitigate future tax burdens, particularly with regards to required minimum distributions from pre-tax accounts like IRAs and 401(k)s. Darrin explains various tax considerations, including Roth IRA conversions and the widow tax trap, to help retirees maximize their savings and minimize taxes. He underscores the integration of 'The Bucket Plan' and the strategic management of different tax funnels to ensure a tax-efficient and durable retirement plan. Darrin concludes by encouraging listeners to be proactive and to seek advice through a free consultation to better prepare for future financial stability.

In this episode of the Retirement Planning Podcast, hosts Darrin McComas and Jason Fox discuss the importance of preserving wealth during retirement rather than focusing solely on high returns. The episode is part one of a three-part series titled 'It's Not What You Make, It's What You Keep.' They introduce the Bucket Plan financial process, which includes strategies for investment, risk management, and ensuring a steady income during retirement. The hosts emphasize the need to shift from an accumulation mindset to a preservation mindset as one approaches retirement. They use real-life examples and statistical data to demonstrate the pitfalls of focusing solely on gains without considering market volatility and other risks. Future episodes will delve deeper into tax planning and protecting one's financial blind side.

00:00 Welcome to the Retirement Planning Podcast
00:47 Meet Your Hosts: Darrin McComas and Jason Fox
00:52 Series Introduction: It's Not What You Make, It's What You Keep
01:14 Part 1: Giving Back Your Gains
01:34 The Importance of Shifting Your Mindset in Retirement
04:35 The Bucket Plan System Explained
08:56 Market Losses and Recovery
09:59 The 4% Rule and Sequence of Returns Risk
13:02 The Bucket Plan: Now, Soon, and Later Buckets
18:06 Wrapping Up: It's Not What You Make, It's What You Keep
18:33 Preview of Next Episode: Taxes in Retirement
19:29 Closing Remarks and Disclaimers

In this episode of the Retirement Planning Podcast, hosts Darrin McComas and Jason Fox from Evergreen Wealth Advisors delve into strategies for managing recent market volatility using the Bucket Plan financial process. The episode includes a discussion on mitigating risks in the stock market, insights from a recent mastermind retreat and advanced training, and the importance of having a long-term view and a well-structured financial plan. They highlight the three-bucket system: the now bucket for immediate needs, the soon bucket for short-term stability, and the later bucket for long-term growth. The hosts emphasize the importance of ongoing education, staying the course during market downturns, and the benefits of consulting with a fiduciary advisor. Listeners are encouraged to contact the hosts for further consultation and receive a free copy of 'The Bucket Plan' book.

00:00 Welcome to the Retirement Planning Podcast
00:52 Introducing Today's Episode: Weathering the Storm
01:12 Exciting News and Recent Events
02:55 Market Volatility and Economic Concerns
08:33 Understanding the Bucket Plan Strategy
09:03 The Now Bucket: Ensuring Liquidity and Safety
10:20 The Soon Bucket: Managing Medium-Term Needs
12:46 The Later Bucket: Long-Term Growth and Security
21:11 Wrapping Up and Final Thoughts
22:52 Disclaimer and Important Information

Sources:
https://www.alisonwealth.com/blog/is-marke...
https://www.forbes.com/councils/forbesbusi...
https://www.ecb.europa.eu/press/projection...

In this episode of the Retirement Planning Podcast, hosts Darrin McComas and Jason Fox dive into comprehensive retirement planning. Darrin shares news about his upcoming training in the Bahamas and Jason's recent achievement of passing the Series 65 exam, making him a fiduciary financial advisor. They emphasize the importance of having a well-structured plan, utilizing the bucket plan system to endure market volatility and inflation, and ensuring long-term financial security. The episode also reflects on their firm's philosophy of customizing financial plans and remaining methodically consistent rather than reactive to market changes.

Join hosts Darrin McComas and Jason Fox, as they continue breaking down The Bucket Plan® financial planning process. 

This episode covers step three of The Bucket Plan® process, the “Deliver” phase, where we present and deliver the personalized, holistic financial plan we’ve developed for you.

Key Topics Discussed: 

Understanding Your Risk Tolerance: Learn about our Volatility Tolerance Analysis, which will help assess your comfort with risk across different time horizons. 

Creating Your Custom Plan: We'll explain how we take all the information from our previous meetings to engineer a financial plan tailored just for you. 

Presenting Your Financial Blueprint: Find out how we'll walk you through your comprehensive plan, addressing your specific concerns and priorities for retirement. 

Planning for Your Retirement Phases: Understand the three phases of retirement - your "go years," "slow go years," and "no go years" - and how we'll help you plan for each. 

Maximizing Your Retirement Income: Learn about our strategies for tax-efficient distribution planning to help you keep more of your hard-earned money. 

The Power of Tax Planning: Discover how proper tax planning could potentially save you tens or even hundreds of thousands of dollars over your lifetime. 

Optimizing Your Savings and Withdrawals: We'll introduce you to our "funnel" concept for managing your money tax-efficiently during both your saving and spending years.

Join our hosts Darrin McComas, BPC and Jason Fox as they continue breaking down The Bucket Plan® financial planning process step by step. This episode covers step two of The Bucket Plan® process, known as the “Design” phase, where we analyze all your assets and how they come together to formulate your holistic plan. Key Topics Discussed: Overview of The Bucket Plan® Process: A recap of the previous episode on “Discovery,” phase and each step of the planning process: Discovery, Design, Deliver, Dedicated. Document Analysis: Carefully reviewing your financial documents to gain a complete understanding of your current situation. Organization: Helping you structure your financial information using our Family Estate Organizer, ensuring everything is accessible and clear to preserve your legacy. Risk Assessment: Using our proprietary Volatility Tolerance Analysis to determine your comfort level with risk across different time horizons. Asset Categorization: Introducing you to our Bucket Plan philosophy, showing you how to categorize your assets for Now, Soon, and Later needs. Investment Education: Guiding you through our Pyramid of Risk, helping you understand various investment types and reflect on your past experiences. Visual Planning: Creating a personalized sketch of your Bucket Plan, giving you a clear visual representation of your financial strategy. Discover how our Design phase creates the blueprint for your customized holistic plan and sets the stage for the next phase of the process.

Hosts Darrin McComas and Jason Fox explore the intricacies of the holistic wealth management process through the widely acclaimed financial process, The Bucket Plan®.  

Their discussion offers a comprehensive look into the first, crucial step of financial planning called the discovery phase. This episode is a must for anyone interested in gaining a deeper understanding of what to expect during the discovery phase of holistic wealth management and the value of holistic, personalized financial planning. 

Key Topics Discussed: 

Introduction to the Discovery Process: Darrin opens with the purpose of the discovery step in understanding clients' financial goals and preparing a personalized plan. 

Role of Prosperity Capital Advisors: How the Registered Investment Advisory (RIA) firm Evergreen Wealth Advisors use, Prosperity Capital Advisors, offers support to advisors’ compliance, trading, reporting, and portfolio management to focus on client service. 

Importance of Tailoring Financial Plans: Darrin emphasizes how personal finance is more personal than finance and should focus on the client's specific needs, goals, and personal circumstances for effective planning. 

Navigating the Discovery Meeting: Darrin discusses how he sets the agenda for discovery meetings, ensuring alignment of goals, and establishing a comfortable environment for open communication about financial aspirations and concerns. 

Pre-Discovery Consultation: Darrin and Jason discuss the precursor to the discovery meeting, where advisors evaluate how they can serve potential clients and determine the appropriateness of proceeding to the discovery phase. 

Stay tuned for future episodes describing each step of the holistic wealth planning process!