In this episode of The Road Rules for Retirement Show, host Mark Fried discusses the value of working with a fiduciary financial advisor and how Mark's firm integrates charitable giving, such as supporting Toys for Tots, into their philosophy. They highlight the importance of client relationships and offer insights into educational events like Coffee Talks and Lunch & Learns on Medicare and estate planning. Mark explains the critical concept of the "Retirement Red Zone," emphasizing the need to start planning five years before retirement to ensure a sustainable income stream. He also touches on the adaptability of retirement plans, the benefits of Roth conversions during market volatility, and the impact of new IRS rules requiring IRAs passed to children to be withdrawn within 10 years.

Show Notes:

1. Introduction to The Road Rules for Retirement Show: Host Mark Fried and Cynthia DeFazio discuss what clients can expect when working with a fiduciary financial advisor.
2. The Importance of Charitable Giving in Retirement: Mark shares how giving back to the community, such as supporting Toys for Tots, is a key part of his firm's philosophy.
3. Fun and Educational Events for Clients: Learn about the interactive educational events, including Coffee Talks and Lunch & Learns on important topics like Medicare and estate planning.
4. Why Client Relationships Matter: Mark emphasizes the importance of knowing his clients' personal lives to tailor their retirement strategies effectively.
5. Understanding the Retirement Red Zone: Learn what the Retirement Red Zone is and why it's crucial to begin serious retirement planning at least five years before retirement.
6. Making Retirement Income Last: Mark discusses strategies to turn a "pile of money" into a sustainable income stream.
7. Adapting Retirement Plans to Life Changes: Retirement plans should be living, adaptable documents. Learn how life events like moving or illness can impact your financial plan.
8. Roth Conversions and Market Opportunities: In times of market volatility, Roth conversions can be an effective strategy for tax savings.
9. The Importance of a Fiduciary Advisor: Mark explains why working with a fiduciary ensures you're getting advice that's in your best interest.
10. Changes to IRA Inheritance Rules: New IRS rules now require IRAs passed down to children to be withdrawn within 10 years—an important planning consideration.

To Learn More about Mark and his Retirement Masterclass: Visit plansmartretirewell.com