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What if you could turn those green numbers in your investment account into retirement income while paying as little in taxes as possible? That’s exactly what we’re covering today with Peter Lazaroff, Chief Investment Officer at PlanCorp. We’re tackling the challenge many of us face: managing deferred gains in our portfolios and figuring out the smartest ways to reduce the tax hit as we transition to retirement.
Peter and I talk through a range of strategies for handling concentrated stock positions, whether it’s selling off winners gradually, taking advantage of tax-loss harvesting, or exploring more advanced options like exchange funds or a 351 exchange. These aren’t just dry financial concepts—they’re real, actionable ideas that can help you simplify your portfolio and make the most of what you’ve saved. And trust me, simplifying your financial “closet” can feel like a huge weight lifted.
We also talk about the emotional side of investing. Why does it feel so hard to part with stocks that have been good to us? Whether it’s an attachment to the company or pride in your early picks, Peter shares why these feelings matter and how to move past them to make decisions that better serve your long-term goals. Stick around—you won’t want to miss the insights he has to share.
Outline of This Episode (0:20) Peter Lazaroff’s Options for Reducing Taxes on Deferred Gains Pre-Retirement (01:46) Why retirees need to manage large brokerage gains. (03:10) The emotional challenge of selling winning stocks. (05:20) Risks of concentrated stock positions and diversification. (09:00) Tax-loss harvesting and direct indexing strategies. (14:30) Simplifying portfolios with the 351 exchange. (18:40) Portfolio simplicity and enjoying retirement income. Resources & People Mentioned The Retirement Podcast Network Peter Lazaroff’s Book: "Making Money Simple" – www.peterlazaroff.com/freebook Peter Lazaroff’s Website – peterlazaroff.com The Long Term Investor Podcast – thelongterminvestor.com Connect with Peter Lazaroff Peter's website Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.UniversitySubscribe to Retirement Starts Today on
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Can you be fired after announcing your retirement? It's a question that raises eyebrows and stirs concern for anyone nearing the end of their career. A recent article highlights the legal and financial implications of being terminated after sharing retirement plans, and it’s a scenario more common than you might think.
Employers often operate under at-will employment laws, giving them broad rights to terminate employees, even after a retirement announcement. But what does that mean for you? Understanding protections like ERISA and the Age Discrimination in Employment Act can make all the difference in navigating this tricky situation. It's not just about legalities—financial stability, severance packages, and health insurance come into play too.
On top of that, announcing retirement at the wrong time could mean missing out on potential benefits or buyouts. Striking a balance between professional courtesy and protecting your financial future is essential. When it comes to planning for life after work, the timing and approach of your announcement could impact everything from your wallet to your peace of mind.
Outline of This Episode (0:00) Introduction (0:29) Yahoo Finance article discussion (1:11) At-will employment laws explained (2:08) Legal considerations: ERISA and age discrimination (3:57) Financial steps after unexpected termination (7:47) Protective measures to stay on track (10:05) Client story: Announcing retirement too early (12:12) Listener questions: What to retire to (13:04) Crafting a fulfilling retirement plan (17:27) Taking small risks to find post-career purpose Resources & People Mentioned The Retirement Podcast Network Yahoo Finance Article by Christy Bieber – Discussing legal and financial challenges of being fired after announcing retirement Freedom for Fido – A charity building shelters and fences for dogs in need Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.UniversitySubscribe to Retirement Starts Today on
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Are you spending too little in retirement, worried you might outlive your savings? Many retirees struggle to strike the right balance, often holding back on enjoying the wealth they’ve worked a lifetime to build. I’ll show you how to overcome those fears and spend with confidence while still planning for the future.
What about real estate? Whether you’re thinking about renting instead of owning, leveraging home equity for long-term care, or even investing in rental properties, the right approach can make all the difference. I’ll share practical insights to help you figure out what works best for your lifestyle and financial independence.
Retirement is your chance to live on your terms, free of unnecessary stress and worry. By understanding the psychology of spending and making thoughtful decisions about your biggest assets, you can enjoy the freedom and security you’ve earned. Let’s get started.
Outline of This Episode [0:00] The Start of 2025 [1:50] Spending Struggles in Retirement [4:40] Connecting with Your Future Self [6:12] Underspending Biases and Longevity Risk [12:01] Real Estate in Retirement [14:10] Renting vs. Owning [16:10] Home Equity for Long-Term Care Resources & People Mentioned The Retirement Podcast Network Morningstar Article: Tips to spend less or more in retirement by Samantha Lamas. Benjamin Brandt’s Book: Retirement Starts Today. Capital City Wealth Management: Benjamin Brandt’s financial planning firm. Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.UniversitySubscribe to Retirement Starts Today on
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What does it mean to live a life of purpose? I talk with Jordan Grumet, aka Doc G, host of the Earn & Invest podcast, about how his work as a hospice doctor shaped his understanding of purpose and regret. His new book, “The Purpose Code,” offers insights on how to live with intention and meaning.
We talk about the difference between "Big P" and "Little P" purpose and why focusing on grand goals often leads to frustration. Jordan shares how the terminally ill reflect on their lives, emphasizing the courage it takes to prioritize what truly matters.
This conversation is about using time, money, and energy to create a fulfilling life. Whether you’re planning retirement or redefining your goals, Jordan’s perspective can help you focus on what lights you up and brings you joy.
Outline of This Episode [1:42] Purpose and Regret: Lessons from terminally ill patients [3:40] The Purpose Paradox: Tackling anxiety in finding purpose [5:50] The Role of Courage: Overcoming barriers to meaningful living [8:40] The Trap of “Enoughness”: When financial goals fall short [14:00] Winning Life: Filling your calendar with what matters [17:10] The Purpose Code: A guide to living intentionally Resources & People Mentioned The Retirement Podcast Network Book: The Purpose Code (Available January 7th, 2025) Podcast: Earn and Invest Book: Taking Stock: A Hospice Doctor’s Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life Connect with Jordan Grumet Jordan Grumet’s Website: jordangrumet.com Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.UniversitySubscribe to Retirement Starts Today on
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Originally aired February 2024:
There are two ways to mess up retirement: run out of money or die with regret. Oftentimes, people in the retirement space only focus on the running out of money part.
In an effort to help you live an even better retirement, today’s retirement headline discusses the regret part. Join me to learn five expenses that retirees wish they had spent more money on so that you can learn from their mistakes.
Stick around to hear the answer to our listener question: Is there one person who can help develop a comprehensive retirement plan? Or do you need to have an investment advisor, a financial advisor, a tax advisor, and an estate planning attorney? Find out the answer by pressing play.
For more information, visit the show notes at https://retirementstartstodayradio.com/5-expenses-retirees-wish-they-spent-more-money-on-rebroadcast
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Originally aired March 2024:
There are many ways that could threaten your financial security in retirement. Knowing the common issues can ensure that you don’t fall into the traps.
Today’s financial headline comes from Yahoo Finance and is called 8 Ways Baby Boomers Become Poor in Retirement. Listen in to learn what they are so that you don’t drive yourself into the poorhouse.
For more information, visit the show notes at https://retirementstartstodayradio.com/8-ways-to-become-poor-in-retirement-rebroadcast
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Originally aired April 2024:
It may be easy to define success in your working career, but defining success in retirement can be more difficult. What does success look like in retirement? What will you do daily or weekly to get the most out of your retirement?
In this episode of Retirement Starts Today, we’ll explore a TEDx talk about the 4 phases of retirement that many (but not all) experience. Click play to hear how you can squeeze the most juice out of your retirement.
For more information, visit the show notes at https://retirementstartstodayradio.com/the-4-phases-of-retirement-rebroadcast
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Originally aired February 2024:
You’ve heard of the 4% rule, and if you’ve listened to this podcast before, you’ve heard of Guyton’s guardrails strategy. But have you ever heard of using them together? Today’s retirement headline explores this idea.
Overall, the article highlights the importance of considering sequence-of-returns risk in retirement planning and adopting flexible strategies, such as guardrails, to ensure financial security throughout retirement.
Listen in to learn more about this combination of strategies as well as my opinion on the matter. Then stick around for the listener question segment where Bret and I answer the question: Do I need a will if I want to split my assets evenly between my two children?
Outline of This Episode
(02:11) Sequence of returns risk is the greatest risk to your retirement
(14:49) Should I have a will to split my assets evenly between my kids?For more information, visit the show notes at https://retirementstartstodayradio.com/using-guardrails-for-the-4-rule-rebroadcast
Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletterPre-order Benjamin's book by January 7, 2025:
Retirement Starts Today: Your Non-financial Guide to an Even Better RetirementSubscribe to Retirement Starts Today on
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Originally aired June 2024:
The 4% rule is the “golden rule” of retirement planning. Everyone is familiar with it and it’s easy to work out for some quick, back-of-the-napkin math.
Since it is so easy to calculate and implement, many use it as their retirement withdrawal rule. However, this approach may be overly conservative. While using a significantly higher withdrawal rate may go too far, the 4% rule may be too cautious.
Listen in to hear the limitations of sticking with this overly simplistic rule of thumb.
Outline of This Episode (2:25) Is the 4% rule too safe? (11:16) Does it make sense to spend more in the early years while awaiting full retirement age? The pitfalls of the 4% ruleOftentimes, people fail to take into account other income sources when calculating the 4% rule. Social Security and pensions may provide a base income floor which means you could use a higher withdrawal rate from your portfolio.
My biggest problem with the rigid 4% rule is that it isn’t flexible enough. The 4% rule doesn’t allow for spending flexibility and ignores spending adjustments that could be made on actual needs and circumstances.
Another reason to avoid this stringent rule is that it doesn’t fully evaluate outcomes. The probability of success should be viewed as a spectrum. This approach will help measure the total amount of the goal achieved each year providing a more nuanced understanding of retirement readiness.
What to do instead of relying on the 4% ruleIncorporating more realistic metrics, such as goal completion and spending flexibility can lead to higher optimal spending levels. Based on this updated perspective, a 5% withdrawal rate may be more appropriate for the average retiree over a 30-year retirement period.
However, the ideal rate depends on various factors, including the retiree’s specific circumstances and goals.
Recent research introduces guided spending rates, where the withdrawal rate adjusts based on an individual’s flexibility and retirement duration, ranging from 10 to 40 years. Increasing the withdrawal rate from 4% to 5% may seem modest, but it represents a 25% increase in potential income, offering retirees more discretionary funds earlier in retirement when they are more active.
Finding the right withdrawal rate is about balancing safety and practicality. A more dynamic approach that reflects individual circumstances and the ability to adjust spending is essential for effective retirement planning.
In conclusionThe 4% rule is a great rule of thumb based on a worst-case scenario, however, it isn’t comprehensive enough to create a fully-fledged retirement plan.
Your retirement income plan needs to be adjusted based on your spending level, market performance, and inflation. To simply set your income source one day at the beginning of retirement and never look back is a foolhardy endeavor. There is no way that you could accurately plan the next 30 years of your life. Flexibility is key for planning your spending in retirement.
Resource Mentioned Think Advisor article Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletterPre-order Benjamin's book by January 7, 2025:
Retirement Starts Today: Your Non-financial Guide to an Even Better RetirementSubscribe to Retirement Starts Today on
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You’ve been accumulating your savings your entire life, but when the time comes to draw down your investments, there are new risks. In this episode, we’ll discuss four risks that come with the decumulation phase of retirement.
Press play to learn how to avoid these risks in retirement.
Are you looking for a new advisor? One of our listeners is looking for a checklist to help him hire a retirement advisor. While answering that question I went ahead and made my advisor checklist available to all of you to download here.
Outline of This Episode
[1:47] Understand effective strategies for the decumulation phase
[11:20] Do I have a checklist to use to hire a retirement advisor?Resources Mentioned
The Retirement Podcast Network Questions to ask a retirement advisor Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletterPre-order Benjamin's book by January 7, 2025:
Retirement Starts Today: Your Non-financial Guide to an Even Better RetirementSubscribe to Retirement Starts Today on
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Ready to learn how to make a lasting and meaningful legacy for your loved ones? I had an in-depth conversation with Myra Salzer from the Wealth Conservancy. Myra brings a unique perspective as a financial advisor who specializes in helping clients navigate life after inheriting significant wealth. We explore not just the financial implications but the deeply personal challenges that can come with inheriting a fortune.
Myra shows us how inheritors are similar to retirees in that both are financially independent, yet they differ significantly in their experiences. Unlike retirees who have worked, saved, and planned, many inheritors have never experienced earning and managing money themselves. This usually leads to a lack of control over their finances, emotional challenges, and pretty complex social relationships.
We also get into the importance of transparency and avoiding surprises when planning an inheritance. Myra shares invaluable advice on how wealthholders can communicate with beneficiaries to build trust and strengthen relationships. For those of us planning to leave a financial legacy, this conversation is a must-listen to ensure that our wealth becomes a true blessing for future generations.
Outline of This Episode [0:20] Meet Myra Salzer [1:18] Myra’s specialty [3:05] Inheritors’ limited control [4:48] Differences between inheritors and retirees [6:00] Social challenges where inheritors often struggle [8:20] Avoiding surprises in inheritance planning [14:00] The value of smaller, meaningful gifts Resources & People Mentioned The Retirement Podcast Network Book: Die with Zero Connect with Myra Salzer Myra’s Website - The Wealth Conservancy Myra’s YouTube Channel The Inheritor’s Sherpa Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Go deeper into retirement planning with Ben at www.RetirementIncome.UniversityPre-order Benjamin's book by January 7th:
Retirement Starts Today: Your Non-financial Guide to an Even Better RetirementSubscribe to Retirement Starts Today on
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In this episode, we step away from our usual financial discussions to share personal stories from our military service. Why? To give listeners a glimpse of who we are beyond our roles as financial advisors—so we opened up about how our time in the service shaped our lives.
Bret shares his experience working in logistics and on the flight line in the Air Force, while I discuss my years as a combat engineer in the Army National Guard. We both reflect on how those experiences influenced our paths and continue to impact our work today.
Bret talks about his five years of active duty and four years in the reserves, highlighting memorable assignments from Korea, Guam, and Germany, and sharing humorous tales about managing logistics and hazardous materials.
I share stories of my time in Iraq, from conducting mine detection patrols to the lessons learned during long days in a tent. Our service stories illustrate how those years instilled lessons that we now apply to our roles as financial planners.
We close the episode with some actual advice on how to give financial gifts to loved ones in a tax-smart way. This special Veterans Day episode honors the holiday by sharing how our military experiences have shaped us and reminding listeners of the lasting impact service can have.
Outline of This Episode [0:32] Why are we pausing our financial talk to share our military stories? [1:36] What was Bret’s role in the Air Force, and how did it shape his journey? [3:40] Which memorable places did Bret serve, and what did he learn? [7:00] How did my role as a combat engineer lead to unexpected experiences? [8:50] What connections can we draw between military service and advising? [14:17] How can you give cash or assets to loved ones in a tax-efficient way? [19:10] Final thoughts on recognizing veterans and what their service means Resource Mentioned The Retirement Podcast Network Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletterPre-order Benjamin's book by January 7th:
Retirement Starts Today: Your Non-financial Guide to an Even Better RetirementSubscribe to Retirement Starts Today on
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Investing in health can lead to a more vibrant, enjoyable retirement. In this episode, I share the personal health investments I've made, like sleep tracking and working with a health coach, each designed to enhance well-being and longevity. Prioritizing health alongside wealth allows us to fully embrace retirement.
I detail four key health tools, each with its own costs and benefits. From the Whoop Strap for monitoring sleep quality to MyFitnessPal for tracking nutrition, these tools help create a healthier lifestyle. My biggest investment was a full-body MRI, providing peace of mind and preventive insights—sometimes, the best financial choice is a health choice.
To finish, Brett and I answer a listener's question on Roth conversions, covering the best timing to optimize tax efficiency and avoid penalties. This episode offers practical advice for a health-focused, financially savvy retirement.
Outline of This Episode [0:27] Nine-Year Milestone and Book Announcement [2:30] The Importance of Investing in Health [4:17] Wearable Tech: The Whoop Strap [6:10] Health Coaching and Nutrition Tracking [8:08] Long-Term Investment in a Full-Body MRI [13:06] Listener Question: Optimal Timing for Roth Conversions Resources & People Mentioned The Retirement Podcast Network Whoop Strap – Wearable device for tracking recovery and sleep quality MyFitnessPal Premium – Nutrition and macro tracking app Prenuvo – Provider of full-body MRI scans Peter Diamandis and Fountain Life – Inspiration for full-body MRI screenings Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.UniversitySubscribe to Retirement Starts Today on
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Are you feeling rattled by Required Minimum Distributions (RMDs)? We’re here to help. Today we get deep into managing RMDs as we explore an article by Pam Krueger from Kiplinger’s. I outline the complexities of RMDs, share strategies to minimize tax impacts, and talk about how to craft a "perfect RMD" strategy. Plus, I’ll dig into why so many retirement podcasters, myself included, have no plans to retire themselves.
We kick things off by understanding the basics of RMDs, including when and how retirees must start withdrawing funds from tax-deferred accounts like IRAs and 401(k)s. I share exactly how the timing of RMDs, starting at age 73 (or potentially later under new laws), can have huge tax implications. I also detail strategies to minimize taxes through Qualified Charitable Distributions (QCDs) and preemptive withdrawals.
And of course, co-host Bret Mulvaney and I respond to a listener's intriguing question: why don’t retirement podcasters retire?
Outline of This Episode [00:22] Tax Month and RMDs Overview [02:10] Age Changes and Future Implications [08:00] Strategies for a “Perfect RMD” [16:10] Why Retirement Podcasters Don’t Retire [21:30] Life Fulfillment through Financial Planning Resources & People Mentioned The Retirement Podcast Network Kiplinger’s article by Pam Kruger: “Rattled by RMDs? Look No Further.” Retirement Starts Today Tax Tool: retirementstartstoday.com/tax Secure 2.0 Act details Connect with Pam Krueger https://www.kiplinger.com/author/pam-krueger Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.UniversitySubscribe to Retirement Starts Today on
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Are you sure you're making the right call when deciding between Roth and traditional retirement accounts? A recent article on the Michael Kitsis blog started a debate into why, during your peak earning years, contributing to traditional pre-tax accounts might actually make more sense—even if tax rates rise in the future.
I’m going to break down why high-income earners can often benefit more from deferring taxes now and paying them later in retirement when they have more control over their income.
I’ll explain how using tax deductions at your highest earning years and withdrawing funds at lower tax rates in retirement can save you a significant amount in taxes over time. It’s all about maximizing your flexibility and finding opportunities to lower your tax burden down the road.
Outline of This Episode [0:20] Why are pre-tax contributions better during peak earning years? [0:52] How can retirees better control income and taxes after retiring? [5:00] What’s the key tax strategy difference between Roth and traditional? [6:10] Why take deductions at high income and realize them later? [9:20] How do tax rate changes affect Roth vs. traditional choices? [12:08] Why is avoiding future "tax tidal waves" crucial for savers? [13:20] What life events can raise taxes, even without rate hikes? [14:50] How do traditional accounts allow for smart Roth conversions? [15:20] Why should retirees focus on tax flexibility now? Resources & People Mentioned The Retirement Podcast Network Michael Kitces Blog: The article titled "Why Pre-Tax Contributions Are Better Than Roth in Peak Earning Years, Even If Tax Rates Increase" by Ben Henry-Moreland. Retirement Tax Quiz Tool: Available at retirementstartstoday.com/tax Ben Henry-Moreland’s articles Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.UniversitySubscribe to Retirement Starts Today on
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What could happen to our taxes if the 2017 Tax Cuts and Jobs Act (TCJA) expires in 2025? This week, we explore a Wall Street Journal article analyzing the TCJA’s potential expiration and its varied impacts across the U.S. from coast to coast.
These tax cuts, enacted under President Trump, included reductions across multiple income brackets, increased standard deductions, and expanded child tax credits. However, when they’re set to expire, the shift could mean substantial tax hikes for many households.
The discussion centers on the unique impact of these changes in different regions, showing how factors like income levels and state taxes could influence the extent of the increase.
Outline of This Episode [0:20] What happens if the 2017 tax cuts expire? [3:00] Impact of the TCJA’s expiration on different regions [4:47] Where tax increases will be highest [5:45] Bay Area faces double pressure [6:05] Retirees in Collier County, Florida, brace for tax changes [7:50] Rural areas face modest tax impacts [12:21] Listener Question: Social Security & retirement timing Resources & People Mentioned The Retirement Podcast Network Where Taxes Would Rise the Most if Trump’s Tax Cuts Expire Retirement Starts Today Tax Tool: retirementstartstoday.com/tax Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.UniversitySubscribe to Retirement Starts Today on
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Are you actually prepared for how upcoming tax law changes could impact your retirement? I analyze insights featured on the Nerd’s Eye View blog, focusing on key tax strategies for retirees. With the potential 2025 sunset of the Tax Cuts and Jobs Act approaching, potential changes in marginal tax rates, personal exemptions, and deductions could significantly affect tax planning, especially for higher-income earners.
Flexibility is super important when preparing for uncertain legislative changes. Roth conversions and gains harvesting are explored as ways to mitigate the potential impact of rising tax rates. By taking action now, retirees can strategically time income recognition and navigate these upcoming shifts in tax policy.
We’re going to keep this conversation centered around forward-thinking tax planning based on Nerd’s Eye View insights, helping retirees and financial advisors remain adaptable and ready for the changes that may come. Understanding these strategies can help you out big time, and lead to smarter decisions as the future tax landscape unfolds.
Outline of This Episode [0:08] Discover October’s tax focus and new tool [1:06] Estimating Your Retirement Tax [2:30] What happens when tax cuts sunset? [6:10] How to adapt to future tax changes effectively [7:00] Roth conversions for tax efficiency [13:50] Listener question on retirement spending [18:00] Social Security as a contingency plan Resources & People Mentioned The Retirement Podcast Network Retirement Starts Today Tax Tool The Nerd’s Eye View Blog article Connect with Nerd’s Eye View Nerd’s Eye View Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.UniversitySubscribe to Retirement Starts Today on
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Are index funds really the "sure thing" in investing, or do our emotions get in the way? To help answer that question, we’re going to talk about a Wall Street Journal article by Jason Zweig, which demonstrates the simplicity and challenges that come with investing in index funds.
While these funds are designed to replicate the market at a low cost, actual investor behavior is what can lead to underperformance. We’ll talk about why sticking to this seemingly easy strategy is harder than it looks and explore how to avoid the "behavior gap" that keeps investors from reaching their full potential.
Next, Brett and I team up to tackle a listener question about estate planning. If you’ve already got a financial plan in place but need help with wills, trusts, and powers of attorney, this segment is for you.
We break down what estate planning tools you need to protect your family and your assets, and we’ll also get deep into when it's time to involve an attorney. Estate planning may not be fun, but having a plan in place can prevent huge headaches down the road.
Outline of This Episode [0:20] Index funds are a sure thing...right? [2:51] Understanding the behavior gap [4:00] The temptation to sell [7:00] Boring but effective [13:17] A real-life coffee conversation [17:42] Estate planning essentials [19:50] Powers of Attorney: Why you need them now [21:47] Don't forget your parent’s estate plan [23:50] Navigating health care directives [25:00] Final thoughts: Simple, yet hard to do Resources & People Mentioned Messing Up the Closest Thing to a Sure Thing in the Stock Market, by Jason Zweig Mind the Gap 2024: A Report on Investor Returns in the US The Retirement Podcast Network Connect with Wall Street Journal contributor Jason Zweig Jason Zweig, Wall Street Journal profile Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.UniversitySubscribe to Retirement Starts Today on
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How can we better prepare for a successful retirement? We’re exploring the lessons from a recent article by Christine Benz of Morningstar, where she reflects on her six-week sabbatical and how "mini-retirements" can help us test the waters before we fully retire.
We talk about how the luxury of unscheduled time, balancing purpose, and the importance of finding joy in small moments can shape our ideal retirement experience.
I also have a listener-inspired segment on protecting personal data in the age of cyber threats and data breaches.
Outline of This Episode [00:58] How should we handle data breaches and protect our information in retirement? [03:02] Lesson 1: Why is unscheduled time an underrated luxury? [05:15] Lesson 2: Why having a sense of purpose is crucial in retirement [06:49] Lesson 3: How hard is it to balance leisure and obligations in retirement? [08:47] Lesson 4: What joy can we discover in small moments during retirement? [10:26] Brett Mulvaney shares how he got started in financial planning [14:08] Steps for protecting your Social Security and tax data after a breach Resources & People Mentioned The Retirement Podcast Network Christine Benz’s Lessons From Another ‘Faux-tirement’ Christine Benz, How to Retire (Morningstar) IRS Identity Protection PIN Social Security Online Services Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.UniversitySubscribe to Retirement Starts Today on
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Are you actually prepared to navigate the complexities of retirement? We’re exploring Fritz Gilbert’s Six Lessons From Six Years of Retirement, shared from his blog The Retirement Manifesto.
One by one, we’ll walk through these lessons, keeping in mind that retirement is an evolving journey, not a static experience. For those who still need to optimize their post-work life, these lessons will show you a roadmap.
We then talk about a listener question about portfolio management—whether to prioritize Roth conversions or refilling cash buckets when your investments outperform expectations. We get deep into the importance of tax diversification and flexibility in retirement, especially why having options—whether it’s a Roth, brokerage, or IRA—is absolutely crucial when facing financial uncertainties.
If you’re preparing for or already navigating retirement, today is an excellent lesson from the ‘upperclassmen’—those a few years ahead of us in the retirement game.
Resources & People Mentioned The Retirement Podcast Network Original Six Lessons article by Fritz Gilbert (and The Retirement Reality Series) Dan Sullivan’s The Strategic Coach program Connect with The Retirement Manifesto Author Fritz Gilbert Fritz Gilbert’s The Retirement Manifesto Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.UniversitySubscribe to Retirement Starts Today on
Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify
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