Shows
Retirement Answers4 Retirement Fears to STOP Believing After You Reach 50Have you ever wondered why so many people dream of early retirement but never actually do it? In this episode, I dive into the most common fears that hold people back from their dream retirement.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2026 PDF here: https://www.rivertreewealth.com/2026-important-numbersEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podca...
2025-12-2320 minRetirement AnswersDon't Retire Early Without Understanding THIS Tax Strategy FirstWhat if you could retire earlier than expected, access your savings without penalties, get health insurance subsidies, and pay no taxes for the first few years? Would you believe that's possible? In this episode of Retirement Answers, I explain how it can be done using a case study of a client named Joe where I break down the strategies and financial maneuvers used to help him retire at 55.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2026 PDF here: https://www.rivertreewealth.com/2026-important-numbersEmail: jacob@rivert...
2025-12-1619 minRetirement Answers5 Misleading Retirement Beliefs That Can Sabotage Your FutureHave you ever wondered if certain beliefs about retirement could actually jeopardize your future instead of securing it? In this episode of the Retirement Answers Podcast, Jacob Duke, a certified financial planner, delves into common assumptions that may seem harmless but can quietly derail your retirement plans. Tune in to learn how to identify and overcome these misconceptions for a secure and fulfilling retirement journey.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2025 PDF here: https://www.rivertreewealth.com/2025-important-numbersEmail: jacob@rivertreewealth.comWebsite: https://www.r...
2025-12-1316 minRetirement Answers5 Questions You MUST Answer If Retiring Before 65Get the FREE Checklist Here: https://www.rivertreewealth.com/pre-65-retirement-checklist👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2025 PDF here: https://www.rivertreewealth.com/2025-important-numbersEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.
2025-11-2815 minRetirement AnswersThis Is The Roth Conversion SWEET SPOTWhat ingredients make for the most optimal Roth conversions? In this episode, I explain what the Roth conversion sweet spot is and why this period of time is the best time to do conversions.📋 Get Your FREE Checklist here: https://www.rivertreewealth.com/roth-conversion-sweet-spot-checklist👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2025 PDF here: https://www.rivertreewealth.com/2025-important-numbersEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder...
2025-11-2516 minRetirement AnswersEvery Retiree Needs To Hear This... (What I've Learned After Helping 100 Clients Retire)You ever have something not be what expected it to be? Well, as a retirement planner who is helped over 100 clients, I have learned an important lesson that I think anyone who is preparing for retirement needs to understand.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2025 PDF here: https://www.rivertreewealth.com/2025-important-numbersEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of th...
2025-11-1816 minRetirement AnswersThe Roth Conversion MISTAKE Every Retiree Should AvoidRoth conversions might help you save on taxes in retirement, but that doesn't mean you only need Roth IRAs... In this episode, I share why it's actually tax-efficient to have money in a Traditional IRA.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2025 PDF here: https://www.rivertreewealth.com/2025-important-numbersEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podca...
2025-11-0511 minRetirement AnswersThe 2026 Social Security COLA + Who It Applies ToThe 2026 Social Security COLA has been announced! I will share what it is, who it applies to, how it's calculated, and why your Social Security claiming strategy impacts your future COLAs.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2025 PDF here: https://www.rivertreewealth.com/2025-important-numbersEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This...
2025-10-2806 minRetirement AnswersSocial Security REGRETS: The Top 5 Mistakes Retirees MakeAre you sure you are taking Social Security at the right time? Well, in this episode, I share 5 common mistakes retirees make when claiming Social Security and what you should look out for.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2025 PDF here: https://www.rivertreewealth.com/2025-important-numbersEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DIS...
2025-10-2517 minRetirement AnswersWhy Retirees with $1M Actually End Up With TOO MUCHAre you making the same mistake many other retirees make? If so, you could end up missing out on a lot right now, and have more money that you ever need later in life. In this episode, I talk about the underspending epidemic among retirees and what causes it.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2025 PDF here: https://www.rivertreewealth.com/2025-important-numbersEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA i...
2025-10-1514 minRetirement AnswersAre You Optimizing Social Security For The WRONG Thing?Is a break even analysis or trying to get the maximum lifetime benefits from Social Security the wrong way to optimize your benefits? In this episode I share an different idea with you about your Social Security claiming strategy.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2025 PDF here: https://www.rivertreewealth.com/2025-important-numbersOther episodes mentioned: https://open.spotify.com/episode/1lGNMCcz8U7wyWSdNS0kNA?si=8fcecfdd482445cdSubmit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEma...
2025-10-0909 minRetirement AnswersRoth Conversions Just Got More Complicated (OBBBA Update)The OBBBA was passed back in July 2025, but now Roth conversions are more confusing for retirees. The new senior deductions might be helpful for some, but for those who were planning to do Roth conversions could have some tough decisions to make.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2025 PDF here: https://www.rivertreewealth.com/2025-important-numbersOther episodes mentioned: https://open.spotify.com/episode/1lGNMCcz8U7wyWSdNS0kNA?si=8fcecfdd482445cdSubmit your question to have it answered on the podcast: https://www.rivertreewealth.com/q...
2025-09-2917 minRetirement AnswersCan Capital Gains Push Me Into a Higher Tax Bracket?The interaction between capital gains and normal income is often misunderstood, so in this episode, I share how capital gains affect your other income and how "income stacking" works.I also share some unintentional drawbacks of capital gains that you have to watch out for.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2025 PDF here: https://www.rivertreewealth.com/2025-important-numbersOther episodes mentioned: https://open.spotify.com/episode/1lGNMCcz8U7wyWSdNS0kNA?si=8fcecfdd482445cdSubmit your question to have it answered on the p...
2025-09-1713 minRetirement AnswersRetiring Early? Use the Rule of 55 To Unlock Retirement FreedomTrying to retire before 60? Creating income for yourself can be tough and can cause penalties if you aren't careful... That's where the Rule of 55 can be helpful and allow you to take money from your employer retirement plan without early distribution penalties, if you satisfy all of the rules. In this episode, I share what the Rule of 55 is, why it matters, the rules you need to know, and some alternatives.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ Get your Important Numbers 2025 PDF here: https://www.rivertreewealth.com/2025-important-numbersSubm...
2025-09-0211 minRetirement AnswersAre You Over-Saving For Retirement? Here's How You Could Be Sabotaging YourselfIs it possible to "over-save" for retirement? I'd argue it is possible and most people don't realize what it's costing them. So, in this episode, I'm sharing how over-saving happens, why it's such a problem, and what you can do to avoid this risk.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinke...
2025-08-2622 minRetirement AnswersHow To Create Tax-Free Income In Retirement WITHOUT A Roth IRADo you really need a Roth IRA in retirement? Personally, I don't think so if you create a good income plan, so in today's episode, I share how a couple with $1.2m can generate tax-free income in retirement without any money in Roth IRAs.Other episodes or videos mentioned: Social Security Tax Video: https://youtu.be/fvrpISbRVak?si=g1qdLsCw-H9LMmYzTax-Gains Harvesting Video: https://youtu.be/7Qz0FD4XeN8👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your q...
2025-08-1923 minRetirement AnswersThese 5 Tax Mistakes Will Waste Your Retirement SavingsTax planning might be the most consequential part of your retirement plan... If you plan well, you could save yourself hundreds of thousands of dollars over your lifetime. If you don't plan at all, you could give up a huge amount of your hard earned savings.In this episode, I share 5 of the most common tax planning mistakes that I see as a retirement planner.👉 Book a call with me: https://www.rivertreewealth.com/get-startedSocial Security Tax Video: https://youtu.be/fvrpISbRVak?si=g1qdLsCw-H9LMmYz✅ If you want the Impor...
2025-08-1627 minRetirement AnswersRetirement Tax Planning: What It Is (Actually) + Why It MattersTax planning in retirement is about so much more than Roth conversions... In this episode, I share the components of a real tax plan and why it is crucial to understand this as you build your retirement plan.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacob...
2025-07-2823 minRetirement AnswersThe Widow's Tax Trap: What Is It & How To Avoid ItThere is a tax trap waiting on retired couples, but most don't know about it until it's too late. In this episode, I share what the Widow's Tax Trap is and how you can avoid this big retirement risk.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/ja...
2025-07-1518 minRetirement Answers8 Important (But Little-Known) Rules To Know Before You RetireThere are so many little details and rules to know about as you head into retirement and today I'm sharing 8 rules that I think everyone should know about before entering retirement.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is th...
2025-07-0518 minRetirement Answers5 Things to STOP Doing Before You Retire (And What To Do Instead)Getting close to retirement? Here are 5 things you should stop doing before you get started.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCL...
2025-06-2716 minRetirement Answers18 Signs You Are Better Prepared for Retirement Than Most PeopleWondering if you are behind on your retirement plan? You are probably more prepared than you think and these 18 signs are good indicators!👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host...
2025-06-1727 minRetirement AnswersRetire NOW If You Answer YES to These 5 QuestionsKnowing the best time to retire is tough to figure out because of all the details involved, but if you can answer 'YES' to these 5 questions, it might be time to start thinking about it!👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob...
2025-06-1116 minRetirement AnswersWhy This Account Changes Everything in RetirementThere is an account that can give you ultimate flexibility and help you reduce taxes in retirement... and no, it's not a Roth IRA. It gives you the flexibility you've dreamed of when it comes to retirement income planning and tax planning.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.l...
2025-06-0316 minRetirement AnswersWhy Converting Everything to Roth is a MISTAKEAre you making this mistake with your Roth conversions? In this episode, I explain why having some money in your Traditional IRA could save you thousands in taxes.Video on Social Security Taxation: https://youtu.be/fvrpISbRVak?si=-tF8oULLC7t7GmD7👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinke...
2025-05-2817 minRetirement AnswersWhat Most Retirees Don't Know About Social Security Survivor BenefitsSocial Security survivor benefits are really confusing, but in this episode I break down everything you need to know about survivor benefits to help you make more informed decisions.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the found...
2025-05-2025 minRetirement AnswersSocial Security Spousal Benefits - Avoid These Common MistakesMost retirees assume they are entitled to 50% of their spouse's Social Security, but that is not true... In this episode, I outline the rules for Social Security spousal benefits, how it works, and why your decision to take Social Security impacts your spousal benefits.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinke...
2025-05-1314 minRetirement AnswersWhat You Can Do To Avoid The IRA Pro-Rata RuleDo you have after-tax money in your Traditional IRA? Well, when it comes time to make distributions or do Roth conversions, you could unknowingly pay more in tax that you otherwise have to if you aren't aware of the IRA Pro-Rata rule or how you can fix this issue before it becomes a problem. In this week's Friday Q&A, I answer James' question on this specific topic.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your questi...
2025-05-0908 minRetirement AnswersWhat The Top 1% of Retirees Do Differently From Everyone ElseThe top retirees approach retirement completely different from everyone else. They have an abundance mindset and live with intentionally, and that's what I discuss in today's episode.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of River...
2025-05-0615 minRetirement AnswersWhy Your Roth Conversion Could Trigger Unexpected Tax PenaltiesRoth conversions are a powerful tax planning opportunity for retirees, but the devil is in the details. Missing a couple small things could end up costing you.In this Friday Q&A, we answer the following questions:How are dividends taxed in different account types?If I do a Roth conversion, do I need to make estimated tax payments or can I just pay when I file my taxes?👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your...
2025-05-0217 minRetirement Answers10 Retirement Hacks That Will Save You MoneyThere are a few simple ways to save money in retirement and keep more of your hard earned money in your pocket. In this episode, I share 10 hacks that will help you save money and reduce taxes in retirement.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/ja...
2025-04-2929 minRetirement AnswersRecession-Proof Your Portfolio By Doing THISWhat if the market tanks right after you retire? It's important to be prepared and have a plan in place for the 'what-ifs' that could happen. In this weeks Friday Q&A, I answer Carolina's question and share how I like to build portfolios that are recession-proof.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.river...
2025-04-2511 minRetirement AnswersWhy You Should STOP Doing Roth ConversionsRoth conversions might be causing you to pay more in taxes compared to simply not doing any Roth conversions. In this episode, I explain how RMDs and your future tax rate could be much lower than the tax rate you would pay today on any Roth conversions you do.Roth is great, but it isn't always better.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/q...
2025-04-2214 minRetirement AnswersPlanning for Travel Expenses in Retirement? Ask Yourself These QuestionsTrying to figure out how to plan for travel expenses in retirement? That's the question that I address on this week's Friday Q&A.I share a few things to consider as you plan how much you are going to spend on travel in retirement.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.river...
2025-04-1809 minRetirement AnswersThis is the BEST Way To Do Roth ConversionsWhat if you could do a Roth conversion completely tax-free? Would you even believe me if I said this was possible?In this episode, I share how you can use a charitable gifting strategy in tandem with your Roth conversions to eliminate the taxes on the conversion. It's like magic, but it's not... It's just strategy!👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/quest...
2025-04-1514 minRetirement AnswersHow To Plan For Long-Term Care in RetirementLong-term care planning is difficult to figure out. There is no "right" way to do it because some prefer to self insure while others prefer to purchase insurance. In this Friday Q&A, I address Theresa's question about long-term care planning and how I think about it.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.river...
2025-04-1112 minRetirement AnswersStock Market Crash? Take Advantage of These 3 OpportunitiesThe stock market might be taking a hit, but that doesn't mean there aren't opportunities out there. In fact, it's times like these the top 1% make the smartest moves.In this episode, I share 3 opportunities that you can take advantage of during market crashes.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.com
2025-04-0818 minRetirement AnswersHow To Invest AFTER You RetireYou've been investing throughout your entire career and trying to grow your portfolio so you are ready for retirement. But what happens to your investments when get to retirement? Should you make a bunch of changes? Should you be more conservative?Join me as I discuss how to approach investing during retirement and a few different things you need to consider.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podca...
2025-04-0121 minRetirement AnswersDO THIS To Spend Confidently in RetirementThe fear and unknowns of retirement make it hard for most retirees to spend confidently. In fact, I think spending with confidence in retirement might be the hardest thing to do. Will you run out of money? Are you spending too much? What if the market crashes and you never recover?All of the "what ifs" lead to under spending in the prime retirement years and dying with more money than you started retirement with. So, in this episode, I share tips on how you can overcome your worries about spending too much in retirement.
2025-03-2515 minRetirement AnswersSequence of Returns Risk: Should You Retire During a Recession?What happens if the market goes down dramatically right when I retire? That's a big question on most retirees & pre-retirees minds, so in this episode, I walk through how you can combat this risk and what you should do to be prepared.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.l...
2025-03-1919 minRetirement AnswersRoth IRA 5-Year Rules & A Little Known Fact You Should Know AboutIn this episode, I share the two Roth IRA 5-year rules that you should know about. Additionally, I provide a HUGE tip that will help you out when doing Roth conversions in retirement. (Most people don't know this)👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacob...
2025-03-1209 minRetirement Answers6 Financial Goals to Reach By Age 60If you can have these 6 things figured out by the time you are 60, your retirement will be that much more successful and enjoyable.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host...
2025-03-0423 minRetirement AnswersHow To Avoid The RMD Tax TrapIf you aren't paying attention, a huge tax bomb could arise later in retirement. This tax bomb comes in the form of RMDs... But finding ways to minimize your RMDs will help lower your lifetime tax bill. Most people only look at RMDs at surface level, but these forced distributions impact other items such as Social Security taxation and IRMAA, to name a couple.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answer...
2025-02-2528 minRetirement AnswersEvery Retirement Plan Has This MAJOR ProblemAs you approach retirement, you likely want to have everything planned out perfectly... When you are going to start taking Social Security?When to do Roth conversions?How to use tax-gain harvesting?What your portfolio allocation should be?And so onThe good news is you aren't alone in your desire to have it all figured out before you jump in retirement, but here's the bad news... You're plan will be wrong... I know, probably not what you want to hear, but it's the truth.In today's episode, I discuss this idea of your retirement p...
2025-02-1914 minRetirement Answers5 Hidden Costs That Catch Retirees Off GuardDo you ever wonder what you might be missing as you plan for retirement? There's so much to think about and plan for that certain things can easily slip through the cracks. In this episode, I share 5 hidden costs that catch retirees off-guard based on what my clients have told me.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWe...
2025-02-1117 minRetirement AnswersThe Complete Guide to Backdoor Roth IRA Contributions (And Common Mistakes to Avoid)The Backdoor Roth might be the greatest tax loophole for high income individuals… But 99% of people have no idea how to do it correctly. So, in this episode, I’m going to tell you exactly how to do a backdoor Roth contribution without messing it up.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/questionsEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLi...
2025-02-0422 minRetirement Answers6 Common Tax Mistakes Most Retirees Make (And How to Avoid Them)Taxes could very easily be your largest expense in retirement. So, having a strategic tax plan might prove to be the most important thing you can do. In this episode, I share 6 common tax mistakes retirees make around withdrawals, Roth conversions, capital gains, & Social Security.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Email: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Ri...
2025-01-2827 minRetirement AnswersCreate Up To $126k of TAX-FREE Income in 2025 Using Tax-Gain HarvestingWait... You're telling me I can sell $126k of gains in my brokerage account and pay no tax on those gains? Yes! (And the best part is... it's legal) Join me as I share how tax-gain harvesting works so you can learn how to implement this tax savings strategy yourself.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Email: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP...
2025-01-2112 minRetirement AnswersEvery Good Retirement Plan Includes These 6 ThingsHow do you know if your retirement plan is good or not? And what are the different things you need to include in your plan? That's what I discuss in this episode because I share 6 things that every good retirement plan includes.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Email: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and t...
2025-01-1428 minRetirement AnswersIf You Want to Retire in 2025, Do These 5 Things FirstAs you prepare for you upcoming retirement, there a few thing you can do to give you the best chance at the retirement of your dreams. In this episode, I share 5 things (plus a bonus tip) that you should BEFORE you retire to help you make the most of your new adventure and rest at night knowing your money is taken care of. Enjoy!👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Email: jacob@rivertreewealth.comWebsite: https://www.river...
2025-01-0722 minRetirement Answers8 Common Mistakes That Could Ruin Your RetirementThere are plenty of mistakes that can be made when planning for retirement, so I want to warn you about 8 common mistakes that I see.We will talk about the importance of knowing your true spending number, understanding the impact of inflation on retirement spending, balancing investment strategies, planning for taxes, timing Social Security, evaluating the need for Roth conversions, preparing for long-term care, and creating a comprehensive estate plan.Other episodes mentioned:https://open.spotify.com/episode/747cbYYpwgEJIG9l302tZO?si=EM7eryjCTXKSREkJkWqBTA👉 Book a call with me: https://www.rivertreewealth.com...
2024-12-2425 minRetirement AnswersThe TRUTH About Social Security Taxation: How It Actually Works👉 Book a call with me 👉 https://www.rivertreewealth.com/get-started__________________________________✅ If you want the Important Numbers 2025 PDF, send me an email!Email: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeSocial Security taxation is confusing for most... "Am I being taxed on my Social Security benefits?" "WHY am paying tax on my Social Security?" "How is Social Security tax calculate?" These are the common questions retirees have and I answer them in this episode.Jacob Duke, CFP, MBA is the founder of River...
2024-12-1723 minRetirement AnswersPension vs Lump Sum - Friday Q&AIn this episode of the Friday Q&A, Jacob discusses a listener's dilemma of choosing between taking a lump sum or opting for a monthly pension in retirement. With a detailed inquiry involving health concerns, survivor benefits, and financial flexibility, the discussion delves into various factors such as fixed income, monthly expenses, Social Security benefits, and personal circumstances like employment status and legacy planning.———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of...
2024-12-0605 minRetirement Answers4 Reasons to Retire ASAPStill trying to figure out when you are going to retire? Do you have a specific age in mind? It can be hard to decide and then actually go through with it because of the unknown and the "what-ifs" of retirement. But the biggest "what-if" in my opinion isn't what could go wrong in retirement... The biggest "what-if" is getting to the end of your life wishing you would have retired sooner so you could enjoy more time with your family or go on your dream vacation while you had the health.In this episode...
2024-12-0318 minRetirement Answers5 Strategies To Lower Your Required Minimum Distributions (RMDs)When you turn 73 or 75, you will be required to begin taking money from your tax-deferred IRAs, 401ks, 403bs, etc. This is through what is called Required Minimum Distributions (RMDs).While RMDs aren't the worst thing ever, they can create some tax issues in the future if you don't plan accordingly. In this epsiode, I share 5 ways you can lower your RMDs to minimize their negative tax impact in the future.———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com...
2024-11-2616 minRetirement AnswersShould I Pay Off My Mortgage Before Retirement?One of the biggest factors in your ability to retire is whether or not you have debt. If you have no debt, retirement becomes that much easier. BUT does that mean you should pay off your mortgage before retirement at all costs? That's what I discuss in this episode.———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAI...
2024-11-1925 minRetirement AnswersIs NOW A Good Time To Buy Stocks?"The market is at all-time highs! We are due for a recession! I'm going to wait for the next pullback..."These the statements we all tell ourselves, but we shouldn't follow our own hunches and opinions. This week, I am talking through a framework that you can use to help answer the question, "Is now a good time to buy stocks?"———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Ri...
2024-10-3118 minRetirement AnswersAsk This Question BEFORE You RetireMost people only think about the money side of retirement. Do I have enough? When should I start Social Security? Which account should I pull money from first?These are all important questions, but the personal and emotional side of retirement often gets overlooked because the financial questions are top of mind. I encourage you to ask yourself, "What are you retiring to?" You know what you are retiring from, but having a game plan for what you are going to do in retirement is crucial so you don't end up lonely, sad, and hating...
2024-10-2310 minRetirement AnswersHere's When You Should Do Roth ConversionsTrying to figure out when you should do Roth conversions? In this episode, I share the optimal times to do Roth conversions so that you get the most out of this important tax minimization strategy.———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is
2024-10-0113 minRetirement AnswersHow Much Cash Should I Hold in Retirement?How aggressive or conservative you should invest your money in retirement is a constant question in retirees' minds. How much risk should I take? Should I just use a standard 60/40 portfolio? How much cash should I have on hand?In this episode, I address this common question and provide a framework you can use to determine how much cash you should have in retirement based on YOUR unique situation.———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobduke
2024-09-1717 minRetirement AnswersStop Avoiding IRMAA!IRMAA stands for Income Related Monthly Adjustment Amount. In short, it is a surcharge that can be added to your Medicare Part B & D premiums IF you earn to much money.I talk about IRMAA here on the podcast and with my clients because it is something we have to pay attention to so that it doesn't catch us off guard, but I feel like many view IRMAA as something you MUST avoid.In this episode, I share a brief overview of IRMAA and tell you why you shouldn't avoid IRMAA at all costs. In...
2024-09-1116 minRetirement Answers6 Reasons to Spend Your Roth IRA in RetirementHaving a Roth IRA in retirement can be very powerful. It allows you to make tax-free distributions for retirement income and gives you flexibility around your tax brackets...But I've noticed one thing. I/we as financial planners often suggest taking from your Roth IRA last for income in retirement so it has more time to compound tax-free. While this is often a good idea mathematically, I have been asking myself this question: "Everyone is told to save to a Roth IRA so they have tax-free income in retirement, but when they get to retirement...
2024-08-2731 minRetirement AnswersNavigating Market Volatility in RetirementIt's not secret that sudden market declines can cause fear and anxiety in investors' minds. Recently, we've seen some volatility enter the markets and you might be wondering if you should make any changes to your portfolio.In this episode, I provide a framework and steps you can follow to navigate the emotions and uncertainties market volatility throw at us.If you'd like an example of the Retirement Income Buckets, shoot me and email and I will send it right over!———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivert...
2024-08-1321 minRetirement Answers3 Estate Planning Must-HavesEstate planning is often a forgotten part of a financial plan, but there are a few steps you can take to start building your estate plan.It doesn't have to complicated, so I am sharing 3 must-haves to include in your estate plan. There are more elements to think about including in your estate plan, but these should get you started.———————————————————————————Website: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.👉 Do you have your custom retirement strategy? If...
2024-05-1417 minRetirement AnswersThe Secret Ingredient to a Successful RetirementDiscover the missing ingredient to a successful retirement in this episode of Retirement Answers with Jacob Duke. Learn why this ingredient is crucial to your retirement plan and how it can impact your decision-making process. Jacob discusses the pitfalls of trying to be exactly right and the importance of being less wrong tomorrow. He also explores the benefits of building flexibility into your plan, including tax diversification, delaying Social Security, and having wiggle room in your distribution rate.(00:00) - Intro
(01:06) - Listener Review
(02:01) - Secret Ingredient: Part 1
(09:17) - Secret Ingredient: Part 2
(15:07) - Big Takeaways
(18:26...
2024-02-2719 minRetirement AnswersSocial Security Survivor Benefits: A Complete GuideSocial Security can get confusing very quickly. You have FRAs & PIAs, and Spousal benefits, Survivor benefits, Disability, and your own benefits.And the crazy part is that each of these "types" of Social Security benefits have different rules and nuances.In this episode, I am sharing everything you need to know about Survivor Benefits. We will answer the following questions:Who gets a survivor benefit?When can I get a survivor benefit?Do I get my own benefits and the survivor benefit on top of that?How much will my survivor benefits be?Do I...
2024-01-2324 minRetirement AnswersLast 5, First 5: The Most Important YearsI've had this concept in my mind lately and wanted to share it with you. It's not groundbreaking or innovative. It's a simple concept that I have labeled "Last 5, First 5". It's the idea that this 10 year window (the last 5 years of your career and the first 5 years of your retirement), is the most important to get right in your retirement journey.If you don't get things right in the Last 5, First 5, a successful retirement could be in doubt... Hopefully, this episode encourages you to start preparing for retirement sooner and make sure you execute the plan in...
2024-01-1618 minRetirement Answers3 Investment Principles to Live ByInvesting can be hard, but it doesn't have to be... What if I said simple is better, and you don't need a crazy strategy to be a successful investor? We all have our own biases & opinions about what to invest in, but we also have friends, family, neighbors, & advisors telling us what we should do. So, how we do know what the best solution is?Well, I'm sharing 3 principles that I use as a guide to my investment decisions. I hope these help you become a better investor!Want help with your retirement plan?👇🏼☎️ Book a cal...
2024-01-0916 minRetirement AnswersThe Power of a One-Page PlanDoes retirement scare you or give you anxiety? Do you feel like there is too much to know? Well, you're not alone. Almost everyone I talk to who is trying to retire feels a sense of analysis paralysis. They know there are many considerations to thinking about when putting together their retirement plan, but are just unsure how to put it all together.In comes the One-Page Plan... This is a documents that simply lists out what needs to evaluated and when. But how can you fit everything onto 1 page? Well, that's not really the point. The...
2024-01-0221 minRetirement AnswersImportant Numbers to Know in 20242024 is right around the corner and there are important changes that you need to know about!In this episode, we are covering:IRA contribution limit increases401k contribution limit increasesIRA deductibility rulesRoth eligibility rulesAnd I have a FREE cheat sheet for you! This is a resource you can use throughout 2024 to make sure you are on track. Email me for a copy of this FREE resource.***Help me make the show better in 2024. Fill out this quick survey!Want help with your retirement plan?👇🏼☎️ Book a call with me✉️ Emai...
2023-12-2621 minRetirement AnswersDonor Advised Funds - How & When To Use ThemI've had a few questions about charitable giving lately, so in today's episode, I am talking about Donor Advised Funds. We will discuss:What they areHow they workWhy you would use oneWhen you would use oneI walk you through two examples of how this charitable giving strategy will help save you taxes and be able to give more the church or charities you love!***Help me make the show better in 2024. Fill out this quick survey!Want help with your retirement plan?👇🏼☎️ Book a call with me✉️ Email me: jacob.duke@appliedca...
2023-12-1920 minRetirement AnswersHow to Retire in 2024 - 5 Steps To Take NowAre you hoping to retire in 2024? Curious if you are on the right track or if you have everything done to make retirement a reality? In this episode, I am sharing 5 steps you can take to make sure you are ready to retire in 2024.If you aren't retiring in 2024, don't go anywhere! You can start using these 5 tips right now to be even more prepared for your future retirement!***Help me make the show better in 2024. Fill out this quick survey!Want help with your retirement plan?👇🏼☎️ Book a call with me✉️ Emai...
2023-12-1222 minRetirement AnswersThe 4 Parts of a Successful Retirement PlanI always talk about different retirement strategies and things to think about, but I think it's important to zoom out and look at the big picture. It is easy to get overwhelmed when thinking about all the things that must be considered when evaluating your retirement.I received a question from a listener recently asking what the most important parts of a retirement plan are. So, I wanted to share the 4 things I think you need to have in your retirement plan.***Help me make the show better in 2024. Fill out this quick survey!
2023-12-0527 minRetirement AnswersYear-End Tax Planning Reminders for 2023The end of 2023 is upon us... Crazy! But this is the time of year to make sure you have completed any tax planning that needs to be done.This includes things like:Roth conversionsTax-loss harvestingTax-gain harvestingRetirement plan contributionsCharitable givingTune in to this week's episode to gain new insights on the importance of these year-end tax strategies!***Help me make the show better in 2024. Fill out this quick survey!Want help with your retirement plan?👇🏼☎️ Book a call with me: https://calendly.com/jacobduke/intro✉️ Email me: jacob.duke@appliedcapital...
2023-11-2824 minRetirement AnswersRetirement Investing Mistakes & How To Avoid ThemAs a financial advisor, I see a lot of investing mistakes... And to be honest, I've made a lot of these mistakes myself. I've that getting the investment results you want is far more about limiting your mistakes than hitting home runs.So, I wanted to share common investing mistakes that you should look out for and give you a playbook to avoid them.***Help me make the show better in 2024. Fill out this quick survey!Want help with your retirement plan?👇🏼☎️ Book a call with me: https://calendly.com/jacobduke/intro✉️ Emai...
2023-11-2130 minRetirement Answers6 (Common) Roth Conversion Mistakes to Avoid!Roth conversions are a powerful tax savings tool for many retirees. There are many reasons to do Roth conversions:Pay less tax now compared to the futureMinimize future RMDsAvoid future IRMAA surchargesHelp avoid the Widow's Tax TrapLeave tax-free assets to heirsBut mistakes can be made when doing these conversions. In this episode, Jacob shares 6 common Roth conversion mistakes to watch out for.***Help me make the show better in 2024. Fill out this quick survey!Want help with your retirement plan?👇🏼☎️ Book a call with me: https://calendly.com/jacobduke/intro✉️ Email me: jaco...
2023-11-1420 minRetirement AnswersThe Complete Guide to Social Security Spousal BenefitsSocial Security is one of the pillars of retirement income. But it can be very confusing when you think about PIAs, FRAs, and spousal benefits.In this episode, I break down everything you need to know about Social Security Spousal Benefits and how they work. A big misconception I often hear is that "You get 50% of your spouses benefits." I share why this is a misunderstanding and how spousal benefits are truly calculated. Also, be sure to listen to the end if you are divorced. You could be entitled to spousal benefits if you meet...
2023-11-0720 minRetirement Answers7 Common Retirement Fears (& How To Overcome Them)Retirement can be a scary thought. Do I have enough to retire? When should I take Social Security? What if I run of money before I die? How much can I spend?These are big questions that can create anxiety as you approach retirement. So, in this episode, I share 7 common retirement fears and how you can overcome them. This isn't a comprehensive list of fears that come up in retirement, but they are some of the most common ones I hear about.***Help me make the show better in 2024. Fill out this quick survey!
2023-10-3126 minRetirement Answers2024 Social Security COLA & MoreThe 2024 Social Security COLA has been announced! I am sharing the following:What the 2024 COLA isWho gets the COLAHow does it compare to COLAs historicallyWhy WHEN you begin receiving your Social Security benefits continues to impact you moving forward2 reasons why your COLA won't be as high as you think***Help me make the show better in 2024. Fill out this quick survey!Want help with your retirement plan?👇🏼☎️ Book a call with me: https://calendly.com/jacobduke/intro✉️ Email me: jacob.duke@appliedcapital.comSubmit your question here: jacob@retirementanswers.netYouTube: ht...
2023-10-2417 minRetirement AnswersSpending with Confidence in RetirementRetirement can be challenging... When should I take Social Security? How aggressively should I be investing? How can I manage my taxes? Where is my income going to come from?These are the challenges that typically come up when planning for retirement. But as a financial planner who does retirement planning every day, I have found that one of the hardest parts of retirement is the mental side.Most retirees are worried about spending too much money each month. This can steal your joy because of constant anxiety, and by not spending enough, you are...
2023-10-1720 minRetirement Answers5 Ways to Use a HSA in RetirementThe Health Savings Account (HSA) is the only account you can contribute to that receives triple-tax advantages.Tax-deductible contributionsTax-deferred growthTax-free distributions (for qualified medical expenses)And having a funded HSA in retirement comes with it's advantages:Use for more frequent healthcare costsBridge gap until Medicare ageHelps pay for long-term careCan be used for anything after age 65 without penalty***Help me make the show better in 2024. Fill out this quick survey!Want help with your retirement plan?👇🏼☎️ Book a call with me: https://calendly.com/jacobduke/intro✉️ Email me: jacob.duke@appliedcapital.comSubm...
2023-10-1016 minRetirement AnswersWhen Should I Take Social Security? 6 Things to ConsiderDeciding when to take your Social Security benefits is a common question for most retirees. This decision can cause stress because there is never a perfect answer.If you knew how long you were going to live, it would make this really easy, but that just isn't reality. So, making the most educated decision based on your specific situation is all you can do.In this episode of Retirement Answers, I cover the following:The basics of how your Social Security benefits are calculated3 questions to ask yourself when deciding when to take Social...
2023-10-0324 minRetirement AnswersAre You Ready For The Next Recession?What are you going to do next time the market enters a recession? Are you prepared? Do you have a plan?Most investors are reactive to turbulence in the market. They act out of emotion and fear, which is human nature, but if they had a plan in place BEFORE the market volatility came, they wouldn't have to panic.Listen in as I share why you have to:Have a plan before the market volatility beginsExpect poor market and economic conditions And how how you can change your outlook on retirement so you d...
2023-09-2619 minRetirement AnswersHow to Pay 0% Capital Gains TaxTax planning in retirement is a crucial piece in a successful retirement plan. We often think about Roth conversions and tax-loss harvesting as the primary ways to lower your tax bill in your retirement years.But many forget about an opportunity right in front of them... Tax-gain harvesting!This is when you can use the long-term capital gains tax rates to your advantage by intentionally realizing gains when your income is low. By doing this you can achieve a 0% capital gains rate on your investment gains!Want help with your retirement plan?👇🏼☎️ Book a cal...
2023-09-1915 minRetirement AnswersThe Ultimate Guide to 401k RolloversDo you have an old 401k from a previous employer? Or maybe even a few straggling out there?I'm a fan of keeping things organized and simple, so rolling over those old 401ks into an IRA to consolidate your money could is typically a good idea. The hard part is knowing how to actually do the rollover correctly.It can be scary because it is your life savings that you are trying to move from one account to another. Well, in this episode, I guide you through the exact process to make sure y...
2023-09-1222 minRetirement AnswersThe Ultimate Retirement Checklist: 6 Things To Include in Your PlanWhat is a retirement plan... actually?Is it a Monte Carlo simulation? Tax projections? Investment allocations?A retirement plan, in my opinion, is non of those things individually. But when they are put together correctly, they each help produce a comprehensive plan.So, this week I week I wanted to share what I think a comprehensive retirement plan looks like and what you should include in your plan.The key takeaway: Your plan doesn't have to be long or super technical. It can be as simple as bullet points on a...
2023-09-0528 minRetirement AnswersBackdoor Roth IRA: What it is + How it worksWhen you want to save Roth money for retirement, but your income is too high... what do you do?Do a Backdoor Roth IRA contribution!Listen in where Jacob shares what a backdoor Roth contribution is, when you should do this (and when you SHOULDN'T), and how to do this correctly.Want help with your retirement plan?👇🏼☎️ Book a call with me: https://calendly.com/jacobduke/intro✉️ Email me: jacob.duke@appliedcapital.comSubmit your question here: jacob@retirementanswers.netYouTube: https://www.youtube.com/@retirementanswers#retirement #ho...
2023-08-2915 minRetirement AnswersHow to Pay Taxes on Roth ConversionsWe all know that Roth conversions can be a powerful tax savings strategy for retirees, but how do you actually pay the taxes when doing a conversion?Listen in to this week's episode to learn about the 2 ways to pay your conversion taxes:Withhold the taxesPay the taxes with cashAlso, I share a few things to look out for and which of these two options I think is the best way to pay the taxes on your Roth conversions.Be sure to stay to the end to hear this week's listener question...
2023-08-2212 minRetirement AnswersThe Roth Conversion Sweet SpotRoth conversions are often a useful tax savings strategy for retirees, but the hardest part is deciding WHEN to actually do them. In this episode of Retirement Answers, Jacob walks you through what he calls the "Roth Conversion Sweet Spot".The "Sweet Spot" consists of a few things:Low IncomeLarge Tax-Deferred AccountsRetiredNot taking Social SecurityGood cash savingsNot RMD age yetWhen all of these things are true, you are a prime candidate for Roth conversions. Even if only a few of these items apply to you, Roth conversions could still be beneficial for you.
2023-08-1521 minRetirement AnswersWatch Out for This BIG Retirement Tax TrapWe all know that we need a plan for taxes in retirement... But what if there is a big tax bill waiting for surviving spouses? Yes, surviving spouses often have larger tax bills as a single tax filer compared to when they were filing jointly. This is what I call the Widow's Tax Trap.Do you have large IRA or 401k balances?Are you married?Well, you will want to pay attention to this episode. I am sharing what the Widow's Tax Trap is and what you can do to avoid it. Want help with y...
2023-08-0815 minRetirement AnswersThe 3 Bucket Retirement PlanThere are many different retirement income strategies to choose from, but my favorite is the 3 Bucket Plan.I'm a visual learner and being able to separate my money out into 3 different silos helps me remember why my money is invested the way it is.Bucket #1 = CashBucket #2 = BondsBucket #3 = StocksEach bucket has a purpose and a goal. This approach helps you create your investment allocation based on your unique needs, not some rule of thumb.Enjoy the show!Listen on Apple Podcasts: https://podcasts.apple.com...
2023-08-0117 minRetirement Answers5% CDs Are Not Good InvestmentsOver the last 18 months, the Federal Reserve has been increasing it's interest rates. And because of this interest rates on cash, CDs, Money Markets, Mortgages, and Car Loans have also increased.In fact, interest rates are the highest we have seen in quite some time. Which can create some issues after such a long period of low interest rates.We got used to really low mortgage rates, but it seems like those are a thing of the past. And now you can get 5% on a 6-month CD! What a welcome sight...Well, these...
2023-07-2513 minRetirement AnswersAsset Location - How It Saves You TaxesWe all know about how important it is to have a plan for taxes in retirement. So, we create Roth conversions strategies, but what if I told you there is simple tax savings strategy that is available to anyone.It's called Asset Location.This is when you align the tax type of your investments when the tax type of your accounts to minimize your annual tax burden.For example, your IRA will always be taxed as normal income when you take money from it. Because of this, you would want to have investments...
2023-07-1812 minRetirement Answers5 Things To Do 5 Years From RetirementThis week I share 5 things that you need to be doing 5 years before retirement. These are things that will help you have the most successful and fulfilling retirement.Want help with your retirement plan?👇🏼☎️ Book a call with me: https://calendly.com/jacobduke/intro✉️ Email me: jacob.duke@appliedcapital.comSubmit your question here: jacob@retirementanswers.netYouTube: https://www.youtube.com/@retirementanswers#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity
2023-07-1115 minRetirement AnswersHow is Social Security Taxed?One of the biggest decisions you will make in retirement is when to take Social Security! I have found that understanding how Social Security taxation works is important to your overall retirement plan.In this episode, I talk through how Social Security is taxed and share some ideas around why this is important to consider. I hope you enjoy the show!Email: jacob.duke@appliedcapital.com
2023-05-0214 minRetirement Answers$100k Tax-Free Retirement Income!What if you could have $100k of income in retirement entirely tax-free?! Well, in this episode, Jacob Duke, CFP® shares exactly how one of his clients is doing just that. Be sure to stick around to the end for tips around how you can accomplish this as well.Enjoy the show!
2023-04-1815 minRetirement AnswersDon't forget about the Taxable Investment Account!We all know about IRAs and 401ks, but are there other ways to optimize your retirement savings? Yes, and it involves the investment account. In this episode of Retirement Answers, I discuss some of the potential tax issues that lie in waiting if all of your retirement assets are in tax-deferred accounts and provide some ideas around how you lower that future tax risk.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the p...
2023-01-0308 minRetirement AnswersDo I have to be receiving Social Security benefits to get the COLA?Are you curious about the requirements to get the Social Security COLA? This episodes clears up any confusion around COLAs and what has to happen for you to qualify.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/ask-a-questionEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the found...
2022-12-2704 minRetirement AnswersUnderstanding Social Security Spousal BenefitsSo, you know about the Social Security spousal benefit, but do you understand it completely? This episode of retirement answers tells you everything you should know about how spousal benefits work and how your Social Security elections could change the spousal benefit you receive.👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/ask-a-questionEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinke...
2022-12-2005 minRetirement AnswersIntroWelcome to Retirement Answers! This is a quick introductory episode explaining what you can expect from the show moving forward. I invite you to subscribe so you do not miss any future episodes where I will be answering some of the most important retirement questions I receive on a daily basis. 👉 Book a call with me: https://www.rivertreewealth.com/get-started✅ If you want the Important Numbers 2025 PDF, send me an email!Submit your question to have it answered on the podcast: https://www.rivertreewealth.com/ask-a-questionEmail: jacob@rivertreewealth.comWeb...
2022-12-1601 min