Many people think about a nursing home when we talk about long-term care.  But long-term care could also be care in your home. It could also include adult day care, or assisted living. 

While it may not be a pleasant topic to think about, it is essential to ensure you receive the care you need while reducing the financial and emotional burden on your loved ones!

In this episode, J. Barry Watts explains how to plan for your long-term care in an effective and timely manner — and one that is affordable for you.

Barry discusses:

• Five ways you can pay for long-term care

Connect With Barry Watts:

• Schedule an Introductory Call

Having a guaranteed lifetime income (your paychecks) during retirement can help you cover your basic living expenses, so you can focus on what’s left — the playchecks.

In this episode, J. Barry Watts speaks with retired U.S. Army Lieutenant Colonel Tom Hegna, who is now a retirement expert, best-selling author, public TV host and international speaker. Together, they share ways to build reliable sources of retirement income and minimize risk. 

Colonel Hegna discusses:

• Key takeaways from his books “Paychecks and Playchecks” and “Don’t Worry, Retire Happy!”

Resources:

• “Paychecks and Playchecks: Retirement Solutions for Life” by Tom Hegna

Connect With Tom Hegna:

• TomHegna.com

Connect With Barry Watts:

• Schedule an Introductory Call

About Our Guest:

Tom Hegna is an economist, author, and retirement expert. As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature “Paychecks and Playchecks” retirement approach, helping baby boomers and seniors retire the “optimal” way.

Tom specializes in creating simple and powerful retirement solutions. He has the unique ability to pump up a crowd, make people laugh and solve complex financial problems using easy-to-understand words, ideas and stories. He’s been featured in Business, Forbes, Money Rates, and many other leading publications. He is available to speak with businesses, government organizations, professional associations, financial professionals and their clients across the globe.

Insurance can be a tricky thing to navigate. Some people who need it don’t always want it, while others who want it may not necessarily need it.

Plus, a lack of understanding of insurance and how it works could lead to poor decisions and increased reluctance.

In this episode, J. Barry Watts discusses the common types of insurance plans, their tax benefits, and when one plan might be preferred over another.

Barry discusses:

• Three key problems to keep in mind before buying insurance

Connect With Barry Watts:

• Schedule an Introductory Call

After accumulating wealth for years, you want it to be inherited by the right beneficiaries when the time comes. (Instead of your ex-spouse from 10 years ago!)

If you are the one inheriting the IRA, you want to minimize the tax liability on your inheritance.

In this episode, J. Barry Watts explains the most tax-efficient way to handle inherited IRAs and setting up your IRA for optimal distribution to your loved ones.

Barry discusses:

• The importance of updating your beneficiary designation forms (and maintaining a copy)

Resources:

• New IRA & 401K Rules for 2023 (Ep. 55)

Connect With Barry Watts:

• Schedule an Introductory Call

When it comes to taxes, some legislations can feel incredibly complex to the average American, such as the recently passed SECURE Act 2.0 — which was 4,000 pages long!

But don’t worry.

In this episode, J. Barry Watts highlights the key changes in this new legislation and breaks down how they affect people who have IRA accounts, 401(k)s, or other types of qualified retirement plans.

Barry discusses:

• What you need to know about taking required minimum distributions (RMDs) in 2023

Connect With Barry Watts:

• Schedule an Introductory Call

“The things I teach in classes, seminars, and the podcast are the things we practice in our own lives…financially and personally.” — J. Barry Watts.

In a previous episode, Barry spoke with his wife about money and marriage. Today, Barry invites his beloved daughters to the hot seat!

In this episode, J. Barry Watts joins his daughters Madison and Sydnie Watts, who share their experience of growing up in the Watts household and how it shaped their lives — personally, professionally, and financially.

Madison and Sydnie discuss:

• Their childhood stories (farm life, goat shows, and first jobs)

Resources:

• Money & Marriage: Keeping Romance Alive when Finances are on Life Support (Ep. 53)

Connect With Barry Watts:

• Schedule an Introductory Call

Are you curious about how to instill the importance of budgeting and money management into your marriage?

In this episode, J. Barry Watts brings on his wife Kelly Watts to dive into the magic of budgeting and managing money. She shares her experiences with organizing the family’s finances, how she keeps track of their spending, determining categories by analyzing past spending patterns and her advice for seniors and kids.

Barry and Kelly discuss:

• Finances early on in their marriage

Connect With Barry Watts:

• Schedule an Introductory Call

Elections have consequences. The electoral decision in November has significant consequences for business owners, retirees, and tax payers. 

In this episode, J. Barry Watts is joined by Congressman–Elect Eric Burlison from Missouri to discuss how the election has and will continue to impact the money in your pocket. They share their thoughts about the consequences of a divided government on our country’s future.

Eric and Barry discuss:

• The three major implications of the election results in terms of taxes and economy

Resources:

• Request for the “5 Ways Taxes Can Rise During Retirement” report

Connect With Eric Burlison:

• Twitter: Eric Burlison

Connect With Barry Watts:

• Schedule an Introductory Call

How are we supposed to know how much money we need to live our retirement years comfortably? Is it a million dollars? Can you get by on less? How do we even go about determining this? 

In this episode, J. Barry Watts explains what you need to figure out when looking to retire regarding that number in your bank account. We want to help you retire with confidence, dignity, and create a legacy for generations to follow, allowing you to live out your retirement years with ease.  

Barry discusses:

• Why taxes are the centerpiece of your retirement strategy 

Connect With Barry Watts:

• Schedule an Introductory Call

Retirement is a process with a number of stages. 

In this episode, J Barry Watts discusses the four key stages of retirement: Anticipation, Liberation, Reinvention and Reflection. He breaks down every stage of retirement in detail to help you identify what stage you are currently in, and gives you navigational tips for that stage and prepares you to transition to the next stage. 

Barry explains:

• The details of every stage of retirement

Resources:

• Contact us for information about online classes 

Connect With Barry Watts:

• Schedule an Introductory Call