Your Retirement With Sam Duell

There are new savings and tax opportunities that could be utilized.  Sam, Andi, and Luke cover new income tax brackets and withholdings, the raising of standard deductions, contribution limits, and the RMD age.  They offer an in depth look at annuities including the different types and the pros and cons.  They then discuss what to consider in the event of the passing of a spouse.  Topics covered include the tax implications, the changes in income, and making sure to consider avoiding decisions such as unplanned withdrawals.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

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Sam, Andi, and Luke discuss the impact of taxes on retirement and steps to counteract that impact.  They explain how withdrawals from retirement accounts and pensions can be taxed.  They also talk about the calculation of provisional income and how that can make your Social Security subject to taxation.  What are the milestone ages in your retirement journey?  They go over the important ages and even introduces a couple of new ones. 

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Sam, Andi and Luke hightlight mistakes to avoid in retirement planning including not factoring inflation and longevity, overestimating income, and not finding the balance of conservative and aggressive in investing.  They look at life events when it is important to consult your financial professional.  Those include job change or loss of job, marriage, divorse, loss of spouse, and caring for a parent.  Then they move into a conversation which points out how retirement of today is different from that of our parents and grandparents.  Certainly the dwindling away of the private sector pension is included along with longevity, changing habits of how and when we retire, and health care concerns that can come with a longer life.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Now that it has passed, Sam, Andi, and Luke review some of the key provisions of Secure Act 2.0 including the raising of the RMD age, additional catch-up opportunities, and expanded Roth contributions.  They look at lessons that can be learned from 2022 and how to move forward towards retirement in a stronger position and then dispel some common retirement myths.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

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Sam and Luke define the retirement income replacement rate and look at what needs to be considered in building income for your retirement.  This includes determining how much income you will need compared to your pre-retirement income, how much you earn, how much you save, when you will retire, your tax rates, and what Social Security covers.  They also look at tax strategies that can help you presently and in the future.  This includes traditional 401(k) and IRA saving strategies as well as Roth.  Then they discuss a growing trend of working in retirement in explaining why more people are choosing to in some form or fashion and what should be considered when making that choice.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

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Sam, Andi, and Luke cover some solid planning tips to help you retire in a challenging economy in 2023.  Understanding sequence of returns and possibly delaying Social Security are part of the conversation.  What are some important questions you should be able to answer when considering your retirement and income plan?  Those include your budget, your tax strategies, long-term care protection, and other sources of income in your retirement.  They also cover protecting your income in retirement.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

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Luke covers strategies to implement when in the financial red zone which is five to ten years away from retirement.  These include looking at funding your 401(k) to the max, rethinking your 401(k) assignments, and looking at traditional and Roth IRAs.  He also addresses financial challenges head on like high inflation and possible recession and the need to build, plan, strategize, explore, and review.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Sam, Andi, and Luke cover steps to take in the financial red zone, the five to ten years before you retire, that can help make sure your money takes you all the way through retirement.  They cover creating tax-diversified sources of income, looking at opening a Health Savings Account for those eligible, eliminating debt, and creating that financial plan with a retirement specialist.  What is the compounding effect of inflation and the loss of purchasing power and how is that affecting retirees and soon to be retirees?  They provide answers along with discussing strategies to factor in high inflation. They close by looking at certain behaviors that could potentially sabotage your retirement plan such as not looking ahead, being overly optimistic with your budget, and procrastination.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

You want a retirement with as few regrets as possible.  What are some things you can do in the financial red zone to avoid having those regrets?  Sam and Luke cover that in this podcast.  They also address the current economic climate with the bear market, inflation, rising interest rates, recession possibly looming and what retirees and soon to be retirees should be considering.  They close with good financial red zone moves to make sure you launch a stronger retirement such as catch-up saving, paying off debt, and determining retirement spending needs.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.

Sam, Andi, and Luke cover three retirement investment mistakes to avoid including maintaining the wrong asset allocation, failure to properly diversify, and investing without liquid savings.  If you are of the mind to expedite your retirement date, they give you some things to consider.  They also offer tips to help give you more comfort in your retirement spending such as developing a good, structured spending plan and exploring different potential income solutions.

You can reach Duell Financial Strategies by calling 866-203-7486.

Duell Financial Strategies

See omnystudio.com/listener for privacy information.