Shows
The Planning For Retirement Podcast115: “The 40-Year Retirement Test: Why the 4% Rule Might Be Making You Work Too Long”Is the 4% rule actually causing people to work 5 to 10 years longer than they need to?In this episode of The Planning for Retirement Podcast, Kevin Lao breaks down a series of real historical 40 year retirement backtests using withdrawal rates of 4%, 5%, 6%, and even 7%, and the results are shocking.Using Portfolio Visualizer, Kevin tests how different withdrawal rates would have performed starting in 1986 through 2025, and then compares those results to what happens when you retire into a tougher market environment like the lost decade (starting in 2000)....
2026-02-1024 minThe Planning For Retirement Podcast114: Retirement Planning If You Live to 100: 5 Moves You Can't IgnoreWhat if you live to be 100 years old?A lot of retirement plans assume your portfolio needs to last 15–25 years… maybe 30 if you’re being conservative. But if you retire at 60 (or earlier) and live to 100, that’s a 40-year time horizon in retirement — and it changes everything.In this episode, I walk through five retirement planning considerations to address longevity risk for retirees in 2026 and beyond, including:• How to build paychecks in retirement (not just a portfolio)• Why getting too conservative can quietly increase risk over a lo...
2026-02-0331 minThe Planning For Retirement Podcast112: The Retirement Tradeoff: Maximize Spending In The Go-Go Years & Lifetime Gifting vs Long-Term CareSusan is 65, recently widowed, and has saved $2.1 million for retirement.On paper, she’s more than fine… but emotionally, she doesn’t feel fine.After watching her husband pass away, Susan is ready to retire five years earlier than planned so she can enjoy her “go-go years” while she still has her health.But she’s terrified of one thing:👉 Becoming a burden on her adult children.In today’s episode, I walk you through Susan’s retirement plan inside our financial planning software and stress-test her biggest goals:
2026-01-2040 minThe Planning For Retirement Podcast111: 6 Things To Watch For In The Market For 2026 (Retirement Edition)2025 reminded us of something important: markets don’t move based on headlines or how we “feel” about the economy — they move based on earnings, inflation, interest rates, and policy.And if you’re close to retirement, the goal isn’t to predict the market perfectly.The goal is to know what actually matters and build a plan that works whether markets are great, average, or ugly.In today’s episode of the Planning for Retirement Podcast, I start by recapping what we said to watch in 2025...
2026-01-1330 minThe Planning For Retirement Podcast110: The Tax Trap of Traditional 401ks and IRAs (Rewind)PFR Nation,We are rewinding the tape ALL the way back to the very beginning! Here, I’ll break down the common Tax Traps of traditional 401ks and IRAs. This was episode #2, so there’s a good chance you haven’t heard this one! I hope you find it useful and drop a comment with your thoughts. How do you navigate these tax traps in retirement? Happy New Year!-Kevin Are you interested in working with me 1 on 1? Click this link to fill out our Ret...
2026-01-0631 minThe Planning For Retirement Podcast108: Underspending in Retirement, How to Position an Annuity, Pre-Tax vs. Roth Debate (Q+A Session)PFR Nation,In this Q+A edition of the podcast, we are going to tackle some key common issues:Underspending in Retirement and how to prepare for this mentally.How do annuities fit in your retirement income plan?Should I contribute Pre-Tax or Roth funds for retirement?I hope you enjoy this one! Let me know if you have any thoughts about my takes.Thank you for tuning in.-KevinClick this link to...
2025-12-2335 minThe Planning For Retirement Podcast107: 6 Paths to Health Insurance for Early RetireesIf you are retiring before you turn 65, the healthcare gap is probably top of mind. In today’s episode, I’ll talk about 6 paths to healthcare coverage to bridge the gap until you are eligible for Medicare. I hope it helps.FYI, I am NOT a health insurance expert! This episode was made possible because my current premium was skyrocketing 70% next year, so I decided to shop it. However, each state will have its own complexities and nuances. Nonetheless, I hope this gets you started in the right direction. Kevi...
2025-12-1628 minThe Planning For Retirement Podcast106: Can You Quantify the Value of a Financial Advisor?Advisor’s Alpha is Wrong!Vanguard, the King of NO fees, puts out an annual study where they attempt to quantify the value of a comprehensive financial advisor. I can attest to many of the services mentioned, but it is very difficult, if not impossible, to determine the exact % of additional value added those services can provide. In any event, I think Vanguard actually misses the mark on a few of these, particularly because of WHO you are (PFR Nation). I also believe Vanguard fails to include one of the MOST important fa...
2025-12-0947 minThe Planning For Retirement Podcast105: Whiteboard Retirement Plan (Retire with $2.3 million AND Die with $2.3 million)PFR Nation,I hope you all had a wonderful Thanksgiving holiday! It’s been a while since we did a Whiteboard Retirement Plan breakdown, so lets get this back in the rotation! In this scenario, we are looking at a baseline scenario for Jack and Barbara, who have saved $2.3million for retirement, mostly in tax-deferred accounts. They would like to retire at 61 (2026), but they are very concerned about financial legacy for their two adult children. In fact, not only do they want to protect and preserve their assets, but th...
2025-12-0231 minThe Planning For Retirement Podcast104: 8 Roth Conversion Tax TrapsPFR Nation,It’s the most wonderful time of the year…You guessed it…it’s ROTH CONVERSION time! 😊In all seriousness, Happy Thanksgiving all of you! Wishing you a wonderful start to the holiday season.Roth Conversions are a hot topic in our business at the end of the year, so I thought I’d do a video about some common tax traps every day retirees run in to as they are converting assets to Roth. I hope you find it useful!Let me know if there are any other tax...
2025-11-2534 minThe Planning For Retirement Podcast103: 100 Episodes, 100 Lessons (Part 4)Welcome to PART 4 of 100 Episodes, 100 Lessons (for retirees and pre-retirees).In this episode, we’ll walk through episodes 76-99 and bring home some key takeaways for you as you plan for and execute a successful retirement. I hope you enjoy this one!If you are over 50, you’ve saved north of $1million for retirement, and you want to maximize retirement income, minimize your lifetime tax bill, and worry less about money…hit the FOLLOW button so you don’t miss out on the next 100 episodes!-Kevin...
2025-11-1158 minThe Planning For Retirement Podcast102: 100 Episodes, 100 Lessons (Part 3)PFR Nation, Welcome to PART 3 of 100 Episodes, 100 Lessons (for retireesand pre-retirees).In this episode, we’ll walk through episodes 51-75 and bringhome some key takeaways for you as you plan for and execute a successfulretirement. I hope you enjoy this one! If you are over 50, you’ve saved north of $1million forretirement, and you want to maximize retirement income, minimize your lifetimetax bill, and worry less about money…hit the FOLLOW button so you don’t missout on the next 100 episodes! -Kevin Click this link to fill out our Retir...
2025-11-0432 minThe Planning For Retirement Podcast100: 100 Episodes, 100 Lessons (Part 1)PFR Nation:Thank you all for supporting this show for the last few years. Especially for those of you who supported me in the early days when I thought nobody was listening. I even took a 4 month hiatus without announcing it because we were so in the trenches with our boys. All of a sudden I get an email out of the blue asking “Are you still doing the podcast?” That was the motivation I needed to get back in the game and just ‘hit record.’ In 2023, I began posting consistently ever 2 weeks. And in the b...
2025-10-2146 minThe Planning For Retirement Podcast99: How Do We Design a Plan When My Spouse And I Feel Differently About Retirement Income? How Do I Possibly Calculate How Much I'll Need For Long-term Care Costs? + more! (Retirement Q&A Session)PFR Nation, As you know, we are well underway with our free giveawaysfrom a couple of weeks ago. And as I mentioned last week, we received a lot of great comments in that YouTube thread! So last week, I touched on three of the questions in a Q&A format. Today, I’ll address three more! Here they are:1. “So how do you actually build a retirement income plan that both people can sleep at night with when one side wants market exposure and the other wants safety?”2. “I've set aside (spreadsheet) my...
2025-10-1436 minThe Planning For Retirement Podcast98: Convert to Roth before RMDs? Scared to Spend? Age Gap Early Retirement! (Retirement Q&A Session)PFR Nation,We just announced our FREE GIVEAWAY winner and runner-up on the YouTube channel last Thursday. Thank you all for participating and making that process super enjoyable and engaging. One of the questions I asked for the giveaway was “What is one thing related to planning for retirement that keeps you up at night?” We received some amazing responses!! So, I thought I would dedicate this episode and the next to addressing some of the best questions in that YouTube thread. This episode, we will wrestle with three of t...
2025-10-0755 minThe Planning For Retirement Podcast97: The Four Phases of Retirement - And How To Skip The Dark and Depressing PhasePFR Nation,I recentlydiscovered a Ted Talk by Dr. Riley Moynes about the “4 phases of retirement.” We talk a lotabout the financial side of retirement planning.- Safe withdrawal rates- Tax efficiency- Investing to and through retirement- Legacy - Insurance However, it’s equally important to understand and thinkabout the softer side of retirement planning. In this episode, you will want to hear Dr. Moynes’ take on the 4 phases,and I’ll talk about a real-life hero in the College Football world that canhopefully in...
2025-09-3018 minThe Planning For Retirement Podcast96: Short-form Media is Ruining America, and Their RetirementsPFR Nation,In this episode, I’m tackling America’s “headline culture,” how short clips and soundbites dominate not only politics, but also the way we think about retirement planning. With the tragic assassination of Charlie Kirk as a starting point, I reflect on how social media algorithms amplify the loudest, most divisive voices, while thoughtful, nuanced conversations get drowned out. When I dug into Charlie’s long-form interviews, like his sit-down with Gavin Newsom, I realized how much context gets lost and how much more common ground we really share when we go deeper.
2025-09-2338 minThe Planning For Retirement Podcast95: Can We Retire 5 Years Earlier? | Whiteboard Retirement PlanPFR Nation,Welcome to another “Whiteboard Retirement Plan” breakdown!Scottie and Meredith had the perfect plan: retire at 65, sign up for Medicare, and start Social Security at 67. With nearly $1.9 million saved, everything looked like it was on track, until life threw them a curveball. After some friends their age got sick and passed away, they started asking: Why wait? Can we retire right now at 60?In this Whiteboard Retirement Plan, Kevin Lao stress tests their plan to see if early retirement is really possible without jeopardizing their future.
2025-09-1631 minThe Planning For Retirement Podcast94: Reducing Sequence of Returns RiskPFR Nation,As you approach retirement, or even when you are in the beginning phase of retirement, there is this natural feeling of concern about market uncertainty. After all, the market can turn south in a heartbeat, potentially even leading into a recession. Or worse, a prolonged recession. This term is also known as “Sequence of Returns Risk.” It’s not about your long-term average return, it’s about the ‘sequence’ those returns are generated. I’ve been stress testing different rates of withdrawal with different starting periods. And the ‘Lost Deca...
2025-09-0947 minThe Planning For Retirement Podcast93: 10 Pieces of Financial Wisdom for Your Adult ChildrenPFR Nation,Many of you have adult children or loved ones you hope will benefit from your financial success. But how confident are you in their financial skills? Will they be good stewards of the wealth you leave behind? Even if you don’t plan to leave a fortune, your careful retirement planning might still create a sizable legacy.I just celebrated 17 years in financial services on 8/28! It’s been a journey full of highs and lows, shaping my perspective on money and life itself. To mark the milestone, I’m sharing 10 key lessons I’ve learn...
2025-09-0234 minThe Planning For Retirement Podcast92: Should The 4% Rule Be The 7% Rule?PFR Nation,If you have been a podcast listener for a while, you know I have strong feelings about the “4% Rule.” Well, the father of the 4% Rule, Bill Bengen, just released a new book where he admits that 4% is probably too low. In this episode, we’ll briefly touch on the history of the 4% rule, as well as the findings in his new book. But more importantly, we’ll discuss the downsides of actually using the 4% rule in real retirement planning and touch on some key planning opportunities for YOU (PFR Nation) to consider instead.
2025-08-2630 minThe Planning For Retirement Podcast91: What Can We Learn From Gene Hackman's Estate Planning Nightmare?PFR Nation,Legendary actor Gene Hackman passed away earlier this year. Some of the details about his estate plan have been made public due to the probate process. While I don’t believe any of us have an $80 million estate, there are some important lessons we can all take away from this estate planning nightmare. Especially if you are part of a blended family (children from a previous relationship or marriage). I hope you all find this useful. Make sure to check out the links below for some of th...
2025-08-1934 minThe Planning For Retirement Podcast90: Marilyn Was Forced To Retire @ 60 w/ $1.95million Saved. Can She Do It?PFR Nation,I hope everyone has had a great summer! It’s been action-packed for us, especially coming off the heels of family visiting the last 8 days. Thus, thanks for your patience with this week’s episode!This is a good one! Many folks retire earlier than they had anticipated. In this case, Marilyn was forced to retire 5 years earlier than she had planned! She’s done well saving and investing, and has accumulated $1.95million between taxable, tax-deferred and tax-free accounts. However, she has some ambitious goals for travel and fr...
2025-08-1243 minThe Planning For Retirement Podcast89: Retirement Related Q&A w/ A CFP (Inherited Roth IRAs, IRA to HSA Rollover, Stock Allocations for Retirees, and more!)Welcome to another edition of Planning for Retirement (PFR) with Kevin Lao. And welcome to all the newbies here! If you are new, you might want to hit that “Follow” button if you are over 50 and have saved a minimum of 7 figures for retirement. You’re approaching the phase of life where you want to be able to fire your boss at any time, maximize your retirement impact, minimize your lifetime tax bill, and worry less about money! This is your podcast!And don’t forget to “Subscribe” to our YouTube Channel, where we put out weekly r...
2025-08-0544 minThe Planning For Retirement Podcast88: Work Optional Side Hustles in RetirementPFR Nation,In this 88th episode of the Planning forRetirement podcast, I’ll touch on the importance of finding true fulfillmentbeyond financial success and that chasing a retirement goal is merely a toolfor freedom. Freedom to pursue what YOUare built to pursue on this earth. First, I’ll start off by sharing someinsights on tax planning following the One Big Beautiful Bill Act (OBBBA),including changes to tax brackets, the senior deduction and the SALT deduction.I will then highlight a key market trend for 2025, but at the same time stressthe importance of not chasi...
2025-07-2945 minThe Planning For Retirement Podcast87: 9 Bad Pieces of Financial Advice for Retirees To AvoidThe internet is full of financial advice. Some is good, some is great, and some downright dangerous. After nearly 17 years as a financial advisor, I’ve heard it all. In this episode, I’m calling out the bad advice for retirees and pre-retirees that still gets passed around today in hopes that you will plan better for retirement!I hope you enjoy it.-KevinTakeaways:The internet is full of financial advice, but not all is good.Many retirees struggle with the concept of productivity in retirement.Not all financ...
2025-07-2236 minThe Planning For Retirement Podcast86: Trump's Tax Bill and How It Impacts PFR NationPFR Nation,It’s official, the One Big Beautiful Bill Act (OBBBA) was signed into law on July 4th, 2025, making significant impacts on tax rates, deductions, and various credits. This by no means is a summary of ALL the changes from OBBBA, but I attempted to summarize what I believed was most relevant to our listeners and clients (folks nearing or in retirement, saved over $1million, excluding primary residence, mostly in tax-deferred vehicles). In addition to the key tax changes, I’ll also break down 3 client examples and how OBBBA impacted their taxes in 202...
2025-07-1551 minThe Planning For Retirement Podcast84: Retire @ 58 w/ $3million. Prioritize ACA Premium Tax Credits or Roth Conversions?Hello, PFR Nation and Happy 4th of July, and Happy Birthday, America! What a great country we live in, I’m so proud to be an American. My Dad being a (legal) immigrant has given me great appreciation for the opportunities we have relative to the rest of the world. I’m feeling extremely blessed for the clients we are serving in our financial planning firm, and I’m so grateful to serve all of you with this podcast. I hope you continue to find value. We have a fair amount of new listeners, plus the legacy...
2025-07-0142 minThe Planning For Retirement Podcast83: 'Oversaved' for Retirement? Here Are 6 Opportunities To Consider. Many of the individuals and families we serve end up “Oversaving” for retirement. If you are in that same situation (you overachieved 😊), you will want to listen to this episode to learn about 6 retirement planning opportunities to consider. Basically, this is the exact I hope you find this episode useful. -Kevin Takeaways:Many clients are overachievers who overfund their retirement.Financial planning is a continuous process, not a one-time event.Understanding the gap between current wealth and future goals is crucial.Retiring earlier than planned can be a viable optio...
2025-06-2440 minThe Planning For Retirement Podcast82: Retirement Related Q+A (Volume 1)In this week’s podcast, I break down 5 great questions we have either fielded directly in our practice, or have observed in the marketplace from retirees/near retirees. Shoutout to Roberto for this concept, and if it goes well, we’ll be doing these every 4-5 episodes! In this edition, the 5 questions we’ll tackle are:💬 Question 1: Can I get a mortgage if I just retired and don’t have income? I have the assets!💬 Question 2: Can a spousal Roth be done for a wife who is retired and draws a pension and Social Security, but no income from w...
2025-06-1744 minThe Planning For Retirement Podcast81: Financial Support or Enabling Your Adult Children?Is it time to take your adult children off your payroll?Nearly HALF of parents with adult children are providing them with MEANINGFUL financial support. But 40% plan to CUT OFF those funds in the next 2 years.If you or someone you know is struggling with this, you are NOT alone!In this 81st edition of the PFR podcast, we’ll discuss Savings.com’s recent survey about this, and ultimately how this could impact your retirement plans and how you are remembered. Make sure to participate in the poll questions referenced in thi...
2025-06-1034 minThe Planning For Retirement Podcast80: Are You Feeling Behind for Retirement? Here Are 6 Things You Should ConsiderAre you feeling a bit behind on your goals for retirement? You’re not alone!More than half (57 percent) of Americans working full-time, part-time or who are temporarily unemployed feel behind on their retirement savings, according to Bankrate’s latest Retirement Savings Survey.In the 80th edition of the Planning for Retirement podcast, I’ll discuss 6 tactical moves to improve your retirement outcomes. I hope you enjoy it!Also, thanks for your patience this week as my family of 5 + 2 dogs made our move into a new home! We are swimming in boxes while managing...
2025-06-0554 minThe Planning For Retirement Podcast79: 9 Reasons to Delay Social SecurityI hear a lot of financial advice out there to take Social Security as early as possible. But what if I told you that for many high-net-worth retirees, claiming early could cost you several hundreds of thousands of dollars of lost income and even furthermore negatively impact your investment portfolios over time.Episode 68, 9 Reasons to Claim Social Security Early. Make sure to check that one out as well. In this episode, we’ll look at the other side of the coin on why you might want to DELAY Social Security. I hope it helps!-Kevin
2025-05-2747 minThe Planning For Retirement Podcast78: Give Now or Give Later? The Million-Dollar Question (Whiteboard Retirement Plan Volume 6)There is a lot of focus in the financial advice industry related to the “Accumulation Phase.” In the beginning, you’re trying to save as much as possible as you start your careers. Then you gain some traction and start building up a nice nest egg. As your income increases, maybe you start to think about the tax impact of your savings. And finally, you really start to focus in on how much you “need” or “want” before you stop the accumulation phase. The problem is that it continues to be a moving ta...
2025-05-2057 minThe Planning For Retirement Podcast77: Should You Sell in May And Go Away?!Ever hear of the “Sell in May and Go Away” catch phrase as it relates to the stock market? In this episode, we’ll look at the actual data of market returns from May to October vs. November to April and see if there is any merit.We’ll also touch on the stock market since the “Liberation Day” sell-off, as the market has gained a ton of ground in April and early May. I hope you enjoy this episode, and make sure to share the podcast with someone who is PFR Nation caliber!-Kevin
2025-05-1340 minThe Planning For Retirement Podcast76: The Unsung Hero of Retirement AccountsRoth IRAs, 401ks, Health Savings Accounts and Traditional IRAs generally get the most hype when it comes to saving and investing for retirement. However, the TAXABLE BROKERAGE ACCOUNT, in my humble opinion, is the unsung hero in the retirement planning puzzle. This is due to the ultimate flexibility and surprising tax efficiency during the accumulation, distribution, AND legacy phases. Check out this episode where I talk about the benefits in each phase, as well as some of the mistakes I see retirees make when using these accounts to plan for and execute a successful retirement.
2025-05-0629 minThe Planning For Retirement Podcast75: 12 Takeaways From Retirement Planning Reviews in 2025The first quarter of every year is a great opportunity for us to meet with our clients and discuss things like:Required Minimum Distributions (RMDs)Cash Flow NeedsRebalancing opportunities and overall market outlookTax opportunities before the deadlineTax opportunities to tee up for the year(s) aheadAnd overall retirement planning landscape for each of our clientsBut this past quarter, we have had some significant volatility relative to what we’ve seen since 2022 when inflation topped out at 9.1%!!There were some great takeaways I wanted to share in hopes that it...
2025-04-2928 minThe Planning For Retirement Podcast74: Don't Wait To Spend Your Roth Accounts! Vol. 5 Whiteboard Retirement PlanThe conventional wisdom is to spend down your taxable accounts first, then your tax-deferred accounts, and finally your tax-free accounts. However, this may not always be the case. In this episode, I’ll break down the case of “Rory and Erica” on the whiteboard, which goes against this conventional wisdom. We’ll cover max spending strategies, optimal investment strategies, tax-efficient withdrawals, charitable giving, and long-term care planning.I hope you enjoy this edition of the Whiteboard Retirement Plan! Make sure to share this with someone who would find it useful.-Kevin ...
2025-04-2239 minThe Planning For Retirement Podcast73: When The VIX Is High, It's Time To BuyThe VIX (Wall Street’s fear index) topped out at 57 as I write this on 4/9/25. Which for perspective, 15 is a normal level. In 2020, the VIX topped out at 66, and in 2008 it topped out at 88! So, this means there is a lot of fear in the markets.We just wrapped up our Q1 reviews, and our clients are also in that camp feeling uncertainty. However, the market rallied today (4/9/25) with the S&P 500 gaining 8.5%! This is just a friendly reminder that you never want to bail on your strategy during periods of volatility.We’ll break...
2025-04-1529 minThe Planning For Retirement Podcast72: My Top 20 Golf CoursesShoutout to my wife, Jess, for this podcast idea! I started my list with 5, then went to 10…but I had to put 20 down for this list! But, there are several more that SHOULD have made this list!We talk about purpose in retirement, and what better purpose than to have some amazing golf courses that you want to play in retirement!? My hope is to provide some inspiration as you all plan for retirement and begin to hit some of your bucket list golf courses!Enjoy this one and let me know what you t...
2025-04-081h 01The Planning For Retirement Podcast71: Bullish on Bonds!?The Federal Reserve elected to hold steady on rate cuts for now. The market did react positively to this news, but ultimately volatility has ensued since then in response to tariff concerns and their impact on inflation. So naturally, we are fielding more and more questions about the markets and the impact on their retirement portfolio. As a result, I wanted to dig into past economic cycles where interest rates had peaked (like they did in 2024) and ultimately rate cuts began (like in September of 2024). I looked at the results for the S&P 500 returns vs. the Bond...
2025-04-0121 minThe Planning For Retirement Podcast69: 14 Ways to Protect Your Retirement from a Bear MarketNo, I’m not saying a Bear Market is certain. Nobody has a crystal ball. However, the markets are volatile right now, and it’s a great reminder that the market doesn’t operate on a straight line upwards. It has bumps along the road. And that is a GOOD thing! If there was no risk, there would be no opportunity for gains!However, it’s important to begin preparing before you enter a bear market, or worse, a recession. In this episode, I’ll discuss 14 Retirement Planning moves to help you prepare for the NEXT bear market...
2025-03-1847 minThe Planning For Retirement Podcast68: 9 Reasons to Claim Social Security EarlyThe default assumption for many online social security calculators, financial planning tools and expert advice tells you to DELAY Social Security as long as possible! After all, that does yield the highest monthly benefit, assuming you wait until age 70.Well, that may not be the best strategy for you! In this episode, I am going to break down 9 reasons why you may want to claim Social Security early! As always, everyone’s situation is unique, so please consult with your own advisors before making any changes! This is for educational purposes only.I hop...
2025-03-1133 minThe Planning For Retirement Podcast67: Retire at 62/61 with $1million IRA, Optimize Social Security, Managing IRA Withdrawals, Optimize TaxesToday, we will be looking at a client example of a 62/61 year old couple with $1mm inside of a Traditional IRA, about $50k in cash savings, and a $450k home that is paid off. In this episode, we’re going to dive into the timing of their Social Security income, IRA distribution strategy, Roth Conversions, as well as their investment strategy. We’ll also discuss some of the key risks they’ll face throughout retirement. I hope you enjoy this 4th edition of the “Whiteboard Retirement Plan.”-Ke...
2025-03-0432 minThe Planning For Retirement Podcast64: Warren Buffett Says To Do 'This' With Your Will“Legacy is not about leaving something for people, it’s about leaving something behind IN people.”— Peter StropleMany retirees create estate plans with their attorneys. They get a big binder with their documents, hopefully they update their beneficiaries, retitle their assets to their trust, and then they throw that big binder in a safe and “tell their kids where it is.”But they ignore the fact that some day those documents will be read by their beneficiaries, or, perhaps an ‘ex-beneficiary.’ Warren Buffet has a different take on estate planning that we will dive...
2025-02-1131 minThe Planning For Retirement Podcast62: 'Save More Money' = Top New Year's Resolution for 2025Hello PFR Nation,Welcome to the official kickstart of our show going weekly! Yes, we switched the day of the week to Tuesday. I will also be continuing the weekly “Fireside Chats” on YouTube, and those will be released weekly on Thursdays. For this episode, I wanted to chat with you all about a core financial planning topic that I haven’t discussed enough. BUDGETING.For some of you, that may feel like a 4-letter-word. For others, it’s music to your ears. ...
2025-01-2846 minThe Planning For Retirement Podcast61: Benefits of 'Working' in Retirement (w/ Roberto Fortuna)PFR Nation,I am very excited to have one of our very own, Roberto Fortuna, on to the show this week! We are going to discuss the benefits of ‘Working’ in retirement. But, when we say ‘Working’ we just mean having purpose in retirement. Whether that is part time work, volunteering, starting a consulting business, or just being Grammy and Grandpa! Whatever it is that is going to give you purpose in retirement, you should do more of! For those of you who don’t know, Roberto joined my financial planning firm last May. Yes...
2025-01-2356 minThe Planning For Retirement Podcast60: 5 Things to Watch in the Markets for 2025Happy 2025 everyone! First let me say, this is NOT a market prediction episode! They are always wrong. However, I do believe that many of you who are recently retired or approaching retirement will be interested in this episode. I put together a list of 5 things the market is looking for in 2025 that will impact both the stock and bond market. Additionally, I have 5 key takeaways for you to help you improve the success of your retirement plans. Make sure to follow our show if you are over 50 and have accumulated at least $1million for retirement or are pretty...
2025-01-0929 minThe Planning For Retirement Podcast59: We've Been Retired for 8 Years, How Are Things Going? 'Whiteboard Retirement Plan' Vol 3 Ft. Sonny and CherPFR Nation,It’s hard to believe we are wrapping up 2024! I hope everyone is having a wonderful holiday season with their loved ones! This is Volume 3 of the “Whiteboard Retirement Plan” edition of the podcast. The numbers don’t lie, Volume’s 1 and 2 were among the top downloaded episodes for 2024. I will continue to do the Whiteboard Retirement Plan breakdowns every 4 or 5 episodes or so. I don’t want to overplay it, so I’ll track the data to ensure you are still finding value in that content.If you want to be FEAT...
2024-12-2631 minThe Planning For Retirement Podcast58: Let's Ask 'Chat GPT' When You Should Hire a Financial Advisor!PFR Nation…you’re somewhere in the ballpark of 50-60+ and you’ve gotten to the point where you feel you are on the verge of achieving financial independence. Congratulations!! All of that hard work and sacrifice pays off in the end. I wanted to make an episode about when I thought it made sense to hire a financial advisor, and more specifically a financial advisor who specializes in retirement planning. However, I realized how BIASED I am personally on this topic 😊!Naturally, I decided to go to the most objective source possible, Chat GPT. For those who...
2024-12-1245 minThe Planning For Retirement Podcast57: End of Year Tax Planning OpportunitiesHappy Thanksgiving, PFR Nation! What a ride 2024 has been. You all were a HUGE part in making this year so exciting. Listen, it’s a lonely business that I chose…being a rogue financial planner in the independent space. However, I wouldn’t trade it for the world. Given it is the season of gratitude, of course I want to give a shoutout to my team! Zack, The Podcast Man. Amy, our Client Services Associate. Mason, my shorts/social media editor. And of course, Roberto, the backbone of our financial planning proces...
2024-11-2837 minThe Planning For Retirement Podcast56: Aging In Place w/ Michael LevineI’m excited for this episode, as we have a real-life retiree, Michael Levine, who successfully owned and sold a home healthcare business. Michael spent the beginning of his career in accounting until he and his wife started their company over a decade ago. His knowledge in the home health care space in addition to maximizing the benefits of long-term care insurance is going to be extremely valuable to all of you who are planning for your own retirement as well as caring for aging parents.Some of the topics we’ll touch on are:
2024-11-141h 00The Planning For Retirement Podcast55: Trump vs. Harris on TaxesFull disclosure, many of these proposals will never come to fruition. However, it is election time, so why not have some fun with this?I spent a lot of time digging into each candidate’s tax proposals, as well as the potential impact to you, PFR Nation.Let me be clear, this is not an endorsement for either candidate, nor is it a recommendation to make changes based on these hypothetical proposals. However, tax changes will inevitably impact all of us, so it’s important to understand what each candidate is proposing. Furthermore, I would...
2024-10-3152 minThe Planning For Retirement Podcast54: Behavioral Biases Against Annuities and How They Harm Everyday Retirees (w/ Sheryl Moore and Tracy Lownsberry)Annuities have become the four-letter word of retirement planning products. However, is this warranted? When should annuities be positioned in a well-diversified retirement income plan? How do you ensure you aren’t being taken advantage of by an agent who doesn’t have your best interests? In this next edition of The PFR Podcast, I host annuity experts Sheryl Moore and Tacy Lownesberry to discuss this notorious retirement product and attempt to reduce the stigma associated with annuities. Why do this? Well, I personally do not sell annuities…nor do I receive any compensation...
2024-10-1751 minThe Planning For Retirement Podcast53: Ages 58/54, COAST to retirement with $5.5mm and make a multi generational impact ('Vol 2 Whiteboard Retirement Plan')Thanks so much to our recent listener who submitted their financial info for this next edition of the ‘Whiteboard Retirement Plan.’ This was a fun case to break down."Travis" is 58, "Taylor" is 54, and they are currently putting 3 children through college. They’ve managed to save a nice nest egg of approximately $5.5mm and it’s tax diversified quite nicely. In this episode, I’ll break down my thoughts on:College planning and 529sBridge to Social Security ‘COASTing’ to retirementOrder of withdrawalRoth conversions and the RMD Tax TrapSpending/withdrawal ratesRisk toleranc...
2024-10-0244 minThe Planning For Retirement Podcast52: The Sandwich Generation: Planning for Retirement, Juggling College Funding, and Caring for Aging Parents (w/ Jeff McDermott)Are you approaching retirement while juggling paying for your kids' college, or even perhaps caring for aging parents? You are not alone. In fact, 48% of adults are providing some sort of financial support to their grown children, while 27% are their primary support. Additionally, 25% are financially supporting their parents as well. The conversation focuses on the sandwich generation, which refers to individuals who are planning for their own retirement while also supporting their children and aging parents. In this conversation, Kevin Lao and Jeff McDermott discuss various financial planning topics, including college planning, retirement savings, and...
2024-09-1853 minThe Planning For Retirement Podcast51: Artificial Intelligence, Bitcoin, and Should these Emerging Technologies Have a Place in Your Investment Portfolio? (w/ Brian Bonewitz, CFA)Are you approaching retirement and worried about the impact of Artificial Intelligence (AI) on the future of your job? What about the impact of AI on the financial markets? And lastly, do Bitcoin and other cryptocurrencies have a place in a well-diversified investment portfolio?I hope you enjoy my interview with Brian Bonewitz. Brian is an AI consultant, CFA holder, and has a unique perspective on AI, digital assets, and the impact they have on investing for retirement.Personally, I believe the mainstreaming of Bitcoin in 2024 is likely to cap...
2024-09-041h 01The Planning For Retirement PodcastWelcome to "The Planning for Retirement Podcast"Welcome to "The Planning for Retirement Podcast," where we help educate you on how to achieve financial security and fire your boss. Here are some topics you will learn about:- Social Security- Retirement Income Planning- Roth Conversions- Tax Planning- Charitable Giving- Investment Strategies in Retirement- Estate Planning- Long-term Care Planning- Medicare- Required Minimum Distributions- Retirement Mortgage Strategies- And even some behind the scenes into building Imagine Financial SecurityI hope you enjoy the show!-Kevin LaoAre you interested in working with me 1 on 1? Click this link to fill out our Retirement Readiness QuestionnaireOr,...
2024-08-2101 minThe Planning For Retirement Podcast49: Vol 1 of “Whiteboard Retirement Plan” - Should I Retire with $1.5mm Invested at Age 65? (Withdrawal Rates, Spending Phases, Roth conversions, Social Security Timing, and Long-term Care Planning)Welcome to this edition of The Planning for Retirement Podcast. This is Volume 1 of this new series, The Whiteboard Retirement Plan, where Kevin breaks down a real-life client case for “Bob and Jennifer” in plain English. The goal is to help answer the question, “Can I fire my boss?” ERROR IN THE VIDEO***Hey all, just a quick note about this episode. In minute 22:47, I mentioned the spousal benefit Jennifer would collect would equate to $18k/year. However, this is not the case. Because Jennifer filed her OWN benefit early, she would also have a...
2024-08-0848 minThe Planning For Retirement Podcast48: "Downsizing" to Retire EarlyIn this episode, Kevin discusses the topic of downsizing to retire early. He shares the reasons why people downsize their homes to fund their retirement and talks about the tax implications of doing so. TakeawaysDownsizing to a smaller home can help fund retirement and allow for an earlier retirement.Home equity can be a valuable asset to consider when planning for retirement.Consulting with financial and tax professionals is crucial to understand the tax implications of downsizing.Social media algorithms can shape people's opinions and contribute to the perception of a divided society.Considering the emotional attachment to a...
2024-07-2522 minThe Planning For Retirement Podcast46: Should I "Die with Zero?"In this episode, Kevin Lao discusses the key takeaways from the book 'Die with Zero' by Bill Perkins. He emphasizes the importance of using money as a resource and not hoarding it. He also talks about the concept of return on experiences and the different life phases for different experiences.Kevin highlights the significance of investing in one's health and giving with a warm hand instead of a cold one. He also mentions the Life Cycle Hypothesis and the importance of insurance products in mitigating financial risks. Lastly, he discusses the potential drawbacks of...
2024-06-2730 minThe Planning For Retirement Podcast43: Stop Planning for a “Normal” Retirement AgeTwo of our recent client meetings were with folks who retired much earlier than they had anticipated. So, I started to go down a rabbit hole of research and thought this would be a great episode to encourage you all to STOP planning for a “normal” retirement age in your assumptions!Even if you do end up working until 65 or 70, you should not build that into your calculations when planning for retirement. Instead, whatever you think your expected retirement date is, push it forward 5 years. So if you want to wor...
2024-05-1621 minThe Planning For Retirement PodcastEp. 39 - Are you getting too conservative too early before retirement?First and foremost, it's been a whirlwind for the Lao family in March. My financial planning firm just went through its first audit, woohoo! In the midst of all of the heavy lifting preparing for said audit, my wife gets the worst food poisoning of her life. Needless to say, Daddy's daycare was in session for the majority of last week. To cap things off, my oldest son got sick, so I took my twin boys to their first hockey game on Sunday just the three of us. While there, my wife called me with the news that one...
2024-03-2122 minThe Planning For Retirement PodcastEp. 38 - Leveraging legislative changes to maximize your company retirement plans (w/ Alex Jenkins from NestEggs)The SECURE Act of 2019 was the first major overhaul of retirement plans, specifically 401ks. However, many people are still curious about what the changes are and how they impact these group 401k plans. I had the pleasure of being joined by Alex Jenkins, the Chief Revenue Officer @ Nest Eggs, to unpack all of this for us. You'll be sure to learn a lot whether you are a small business owner, an executive at a privately held company, or you're just interested in the evolution of 401k plans and how to maximize them for retirement.
...
2024-03-0744 minThe Planning For Retirement PodcastEp. 37 - 3 flexible retirement withdrawal strategies to maximize spending during your lifetimeHave you heard of the 4% rule?! It's the most recognized benchmark for safe withdrawal rates in retirement. However, it lacks flexibility and often leaves retirees "under-spending," particularly in their prime retirement years.
Think Advisor put out this article (link below) that touched on three alternatives to the 4% rule and how they can potentially increase your spending capacity over time, while also protecting downside risk (outliving your assets).
I hope you enjoy this episode!
If you are interested in learning what it would be like to work with me, fill out my complimentary "Retirement...
2024-02-2229 minThe Planning For Retirement PodcastEp. 35 - Using a reverse mortgage as part of your retirement income strategyHousing wealth is one of the largest, if not the largest, assets on the balance sheet for retirees today. However, many retirees simply pay off their mortgage and let their housing equity sit idle.
There's nothing inherently wrong with this line of thinking because being debt-free is often a goal for most people. However, you may want to look at a reverse mortgage as a tool in the toolbelt to achieve your ideal retirement, minimize taxes, and age in place.
A big thank you to George Vrban, a reverse...
2024-01-2547 minThe Planning For Retirement PodcastEp. 34 - Top investment mistakes retirees have made since 2020Welcome to another episode of The Planning for Retirement Podcast. I'm your host, Kevin Lao!
2020-2023 brought about legitimate market volatility, the first we've experienced since The Great Recession of 2008. I thought I would share some common mistakes I've personally seen retirees make over the last few years to highlight the importance of having a disciplined, unemotional, repeatable, investment process.
I'll also highlight some of the key metrics we are watching in 2024 and how we are currently managing risk in portfolios.
Here are some...
2024-01-1750 minThe Planning For Retirement PodcastEp. 33 - My sincere gratitude, plus a few tax planning observations as we close out 20232023 was an amazing year, and I just wanted to spend some time sharing my sincere gratitude for my listeners, clients, and most importantly my wife, Jessica, for supporting me on this journey.
I also wanted to share a few tax planning observations as we close out 2023.
Here are some links I referenced in the show:
- Ep. 18 - Roth conversion strategy could save $427k in taxes
- Ep. 10 - 6 reasons to take advantage of Roth conversions
-IRMAA...
2023-12-2836 minThe Planning For Retirement PodcastEp. 32 - Tactical ways to reduce your anxiety transitioning from saving to spending in retirementI decided to record this episode as a follow-up to Ep. 30 given how many questions and discussions I've heard from listeners. If you have not listened to Ep. 30 (link here), you should go back and listen as Cody Garrett joined me to talk about the challenge of psychologically going from "Saver to Spender" in retirement.
However, many of the follow-up questions were about what tactical action items you could take to get comfortable with "spending" down your retirement nest egg.
There are 7 potential tactics and philosophies you could adopt...
2023-12-1436 min
What Are You Made Of?Imagine Financial Security: Building Legacies with Kevin LaoIn this inspiring episode, host Mike C-Roc welcomes Kevin Lao, the owner of Imagine Financial Security, a retirement-focused financial planning firm based in Florida. Kevin, also the host of The Planning for Retirement Podcast, shares his journey from growing up just outside Washington, D.C., to building his own successful business in Northeast Florida.
Mike dives into Kevin's background, exploring his unique family dynamics, with a blend of Asian and European heritage, and how those diverse influences shaped Kevin's entrepreneurial spirit. As the owner of Imagine Financial Security, Kevin specializes in tax planning, retirement...
2023-12-0126 minThe Planning For Retirement PodcastEp. 31 - Nontraditional retirement planning using real estate, tax planning, and end of year charitable gifting opportunities (featuring Brady Slack)I'm excited to have Brady Slack, the proud owner of High Country Finance based in Utah, join for this fascinating topic. At first, I was planning to steer Brady in two directions with regards to tax planning opportunities for business owners and W2 employees. But, we ended up mainly focusing on using real estate as a nontraditional retirement planning vehicle, and the tax efficiency of leveraging this asset class.
Just a word to the wise, investing in Real Estate is NOT as easy as it sounds. Many of these expert investors have been through...
2023-11-3055 minThe Planning For Retirement PodcastEp. 30 - Is it harder to go from spender to saver pre-retirement, or saver to spender in retirement? (Featuring Cody Garrett)I've known Cody for almost 3 years now, and this man is a true student of his craft.
Cody is an advice-only financial planner passionate about helping DIY investors on the path to financial independence and through early retirement. He is a CFP practitioner and proud owner of the Measure Twice® brand. His educational insights have been featured by Barron's, Forbes, Fox Business, CNBC, Morning
Brew, Business Insider, and MarketWatch. You can also hear him on the ChooseFI, The Long View (Morningstar), The Financial Independence Show, and Michael Kitces' Financial Advisor Success podcasts.
Twitter: @MeasureTwiceMNY
LinkedIn: https://www.linkedin.com/in...
2023-11-161h 11The Planning For Retirement PodcastEp. 29 - Is the 60/40 portfolio dead for retirement planning?For decades, the 60/40 portfolio has been the most popular asset allocation for retirees and institutional investors. It provides enough exposure to the equity markets to hedge inflation, but also plenty of "safe money" to offset dips in the stock market.
And then, 2022 - 2023 comes along when interest rates skyrocket sending the price of bonds into the red by -15%. The 60/40 portfolio failed for the first time in 40 years.
This begs the question, is the 60/40 portfolio dead?
In today's episode, I talk about what the 60/40...
2023-11-0247 minThe Planning For Retirement PodcastEp. 28 - The top estate planning concern leading DIY investors to hire a fiduciary financial advisor, and what you can learn from it!Opposites attract, and this bleeds into the world of personal finance.
There is a reason why the #1 cause for marital issues is related to personal finances.
Well, when planning for retirement, this is no different. There's oftentimes a "CFO" of the household, and a "Non-CFO."
It varies, depending on the couple, how much the "Non-CFO" is involved and/or interested in the personal finances. But either way, the concern is if the "Non-CFO" spouse had to take over the "CFO" role.
As we get older, we realize we aren't Superman or Superwoman. Then the question becomes, how do you...
2023-10-1926 minThe Planning For Retirement PodcastEp. 26 - 7 reasons to own permanent life insurance in retirement
We've all heard the sales pitches! "Permanent life insurance solves all of your problems!"
For those of you who have followed me for a period of time know I don't believe this to be true. But at the same time, there is a large % of the financial advisor (and talking heads) population that blanketly tells people, "Don't ever buy permanent life insurance."
To me, this is a breach of fiduciary duty. Just because we all have our biases doesn't mean we should PUSH those biases on someone's personal financial...
2023-09-2128 min
Only Fee-Only#60 - Delayed Gratification, Having Growth Goals, and Enjoying the Ride - Kevin LaoKevin's Bio:Hello! My name is Kevin Lao. I am first and foremost a family man. My amazing wife, Jessica, and I are blessed with three active boys. Tristan came first, and our twins, Julian and Jackson, a short 16 months later. They are my "why," and I do my best to lead by example and pursue my passions in hopes my boys pursue theirs. After spending my first 12 years in the financial services industry split between two fortune 500 companies, I developed an obsession for helping people plan for retirement. It sounds simple, but many people d...
2023-08-1033 minThe Planning For Retirement PodcastEp. 22 Paying for Extended Care with Traditional Long-term Care Insurance (with Peter Ciravalo and Rodney Mogen)One commonly shared concern for all retirees and pre-retirees I've spoken to over the years: "Never be a burden on your loved ones."
As we all go through the aging process, the potential need for extended care is more and more at the forefront.
However, many pre-retirees and retirees fail to prepare for this because financial advisors focus more on selling products instead of real planning.
In episode 17, Harley Gordon joined us to discuss the consequences of not planning for extended care.
2023-07-271h 01The Planning For Retirement PodcastEp. 21 - Purpose in Retirement and the Purpose of this PodcastThe Wall Street Journal just came out with an article called
"How to Retire Better, From Retirees Who Learned the Hard Way."
What's interesting is that 2 of the 3 suggestions had NOTHING to do with money or finances! It was all about purpose and relationships. So, this podcast is dedicated to talking about this NON-financial topic, "Purpose in Retirement."
Also, many of you are new listeners whom of course I've never met before! Welcome! As a result, I thought I would share my personal story on WHY I initially launched...
2023-07-1330 minThe Planning For Retirement PodcastEp. 20 - How to Reduce Taxes on your Social Security IncomeDid you know your Social Security benefits in retirement could be 100% tax-free? Perhaps you didn't even know Social Security would be taxable as many of you paid into the system for decades!
Today we will unpack how Social Security retirement benefits are taxed, and most importantly how to reduce taxes on those benefits in retirement.
A few notes for the listeners:
Provisional Income / Social Security Tax Rates for 2023
Individual
Not Taxable: Less than $25k
Up to 50% Taxable: $25k-$34k
Up to 85...
2023-06-2933 minThe Planning For Retirement PodcastEp. 19 - Tax Loss Harvesting to Create Tax Free Retirement IncomeSometimes "hanging tight" isn't the best solution during times of volatility. We've had two bear markets since the Great Recession of 2008. COVID-19 was the first, and the inflation that ensued thereafter in 2021-2022 led to the second. Tax Loss Harvesting involves selling investments when they are down in value (in a taxable account) to create a realized loss for tax purposes. You can then use these losses in current or future years (retirement) to reduce taxes!
These opportunities don't come every year, so it's important to take advantage while you (still) can!
2023-06-1523 min
Retirement Planning Education, with Andy Panko#077 - Understanding cash value life insurance and how it's sold, with Kevin LaoAndy and Kevin Lao from Imagine Financial Security discuss when cash value (aka permanent) life insurance may be appropriate, and what to know about the sales processes around such productsLinks in this episode:Kevin's firm, Imagine Financial Security - https://imaginefinancialsecurity.com/Kevin's podcast, the "Planning for Retirement Podcast" - https://imaginefinancialsecurity.com/planning-for-retirement-podcast/
2023-06-011h 02The Planning For Retirement PodcastEp. 18 - Roth Conversion Strategy Could Save Over $427k in Taxes!Roth conversions are definitely gaining lots of popularity, especially with the Tax Cuts and Jobs Act of 2017 expiring in 2026. Because of this, I have noticed consumers believe they should automatically start converting their IRAs and 401ks to Roth accounts!
First and foremost, you have to run the numbers. For every scenario that is a "home run" like the one I'll discuss today, there is a scenario where it does not make sense. Or, perhaps the time isn't right (yet).
Make sure to check out this latest episode to hear the first of our three-part series from our recent educational workshop, "...
2023-05-3121 minThe Planning For Retirement PodcastEp. 17 - The Consequences of Extended Care in Retirement (featuring Harley Gordon)Nobody wants to think of themselves as getting old or frail. In fact, many retirees in their 60s, 70s, and even 80s are still traveling the world. The risk of extended care will never impact them. But if you need extended care, what are the consequences to your loved ones? They are not just financial but physical and emotional.
We are honored to have Harley Gordon join us on this episode, "The Consequences of Extended Care in Retirement."
Harley is a founding member of the National Academy of Elder Law Attorneys (NAELA), and the founding...
2023-03-2449 min
The Planning For Retirement PodcastEp. 16 - How to Prepare for Required Minimum Distributions (RMDs)It's natural for us to think about how to GET to retirement, but not about how retirement will actually work.
The same is true for saving into a 401k or 403b plan. Most think about how to invest their 401k and maximize growth. However, what about the distribution process? And more importantly, what is the tax impact of those distributions?
Taxes are our clients' #1 expense during retirement, and RMDs play a big part in tax planning. Naturally, I am a big advocate of having an RMD plan.
2023-03-0124 minThe Planning For Retirement PodcastEp. 15 - 2023 Market Outlook2022 was a tough year for both stocks and bonds. In fact, it was perhaps the worst year for a 60/40 portfolio, period. For retirees, this makes income planning very difficult! How do you combat record inflation when both stocks and bonds are falling? Additionally, the risk in stocks is likely not over as the fed continues its rate hike strategy, and a recession is likely.
The good news is, there are opportunities for retirement investors! Tune in to hear more about our key opportunities for 2023.
-Yield is back in fixed income
-The value vs. growth...
2023-01-2719 minThe Planning For Retirement PodcastEp. 14 - "Retirees - Stop Under-spending in Your Go-Go Years"As a financial professional who specializes in retirement, I would never tell a client to spend MORE than they can. However, I will tell them what they CAN spend while still maintaining their financial independence. Oftentimes, it's more than what they are currently spending, especially in the "Go-Go Years" of retirement. Why is this? Perhaps the fear of the "what if's" like long-term care, being a burden on their loved ones, not leaving a financial legacy, longevity concerns and more. In this episode, I'm joined by Justin Fitzpatrick, the Co-Founder of Income Lab. Income Lab is a retirement income planni...
2022-09-1540 minThe Planning For Retirement PodcastEp. 13 - Planning for Healthcare Costs in Retirement - Medicare Considerations (featuring Ari Parker, Lead Medicare Advisor @ Chapter)Now that you have made the decision on when to retire, the next step is to figure out how to pay for healthcare expenses. This episode features Ari Parker, the Lead Medicare Advisor at Chapter. Chapter is a Medicare broker that specializes in helping people make important decisions on healthcare during retirement. Make sure to give us a follow so you don't miss out on our latest episodes!
2022-08-2738 minThe Planning For Retirement PodcastEp. 12 - Should I pay off my mortgage early?First of all, paying off your mortgage early vs. investing the difference is not an apples to apples comparison. I don't know of any investments that provide a guaranteed return = to the mortgage interest rate in question.
If you are comfortable with taking on the risk, you might be better off stretching that mortgage to 30 years and investing the surplus cash into a side fund.
Additionally, this could provide liquidity along the way to access "just in case."
However, there is something to be said for my clients that are mortgage and debt free...
2022-08-1512 min
The Planning For Retirement PodcastEp. 11 - What is Tax Planning vs. Tax Preparation?Tax preparation is reactive, for the most part. Tax planning is proactive. Most people focus solely on tax preparation, which involves preparing necessary documents to file your taxes. Tax planning involves not only minimizing your tax liability today, but minimizing taxes when you start to draw on your investment assets and throughout your retirement years. We hope you enjoy this episode!
2022-07-2225 min
The Planning For Retirement PodcastEp. 10 - Six Reasons to Take Advantage of Roth ConversionsAre you approaching retirement with the bulk of your next egg in tax deferred 401ks or IRAs? With so much uncertainty on where tax rates might head in the future, you might be wondering, "Should I take advantage of Roth conversions?" They are not for everybody, but in the right situation you could end up saving thousands, or even hundreds of thousands, of dollars in taxes during your lifetime. Additionally, your heirs will also benefit from a more tax efficient inheritance. I hope you enjoy this episode, which includes my interview with Kevin Geddings at WSOS 103.9 in St. Augustine!
2022-04-2330 min
The Planning For Retirement PodcastEp. 9 - The 5 Most Common Estate Planning MistakesThe number one thing I hear from clients is they don't want to ever be a burden on their loved ones, and yet, I've seen a number of estate planning mistakes over the years. Fortunately, they never truly get exposed unless something unexpected happens. These 5 common estate planning mistakes can and should be addressed, and I always recommend seeking official legal counsel from a licensed attorney to do so!
2022-04-2215 minThe Planning For Retirement PodcastEp. 8 - What to do when stocks are volatile?Spoiler alert: The answer is NOT "do nothing."
Volatility is a healthy part of investing! If there was no risk to it, there would not be the upside potential the stock market has provided for decades! Inevitably when the stock market is volatile, I field a bunch of questions on "what to do next?!" Nobody is complaining when markets are flying up with no volatility, but once we see that 10% or 20% dip, people start to pay attention. I decided to record this episode to shed light into what our practice looks like and how we navigate the good a...
2022-01-2519 minThe Planning For Retirement PodcastEp. 7 - Retirement Income Withdrawal StrategiesA lot of people focus so much on retirement savings strategies and not enough on withdrawal strategies. Also, many people don't realize the withdrawal strategies begin years before you retire! I hope you enjoy this episode and begin to think about how your savings strategies now will impact your withdrawal strategies later. Additionally, if you are closer to retirement, hopefully you can begin to think about which strategy (or strategies) align with your personal preferences. Enjoy it!
2022-01-0718 minThe Planning For Retirement PodcastEp. 6 - 4 Tax Strategies As We Approach Year EndIt's the end of the year, and most people are thinking about the holidays! Well, we think about tax efficiencies for our clients, so I wanted to share a few tips that you might want to consider as we approach the end of the tax year. This should not be taken as tax advice! Consult with your own professional tax advisors to determine what strategies make the most sense in your situation. Nonetheless, I hope you find it helpful.
2021-12-0719 minThe Planning For Retirement PodcastEp. 5 - What is a safe rate of withdrawal in retirement?The formula we use at our firm, Imagine Financial Security, is; Financial Goals + Risk Tolerance - Income Sources = Rate of Withdrawal.
If you follow this logic, you will find a goals based rate of withdrawal that is customized to your financial plan, not some benchmark created by someone who knows nothing about you.
Hope you enjoy it!
2021-07-2912 minThe Planning For Retirement PodcastEp. 4 - Maximizing Social Security Benefits for RetirementSocial Security represents approximately 40% of all retiree's incomes. When to claim Social Security is ultimately unique to everyone, so I put this episode together to help you think about multiple factors before making a decision.
2021-05-2612 minThe Planning For Retirement PodcastEp. 3 - Four Stress Tests For A Bulletproof Retirement PlanIf your investment portfolio and retirement plan can pass these four stress tests, you will find yourself having more peace of mind in your retirement years than you could ever imagine. Take a listen and learn more about how we can help stress test your plans for retirement.
2021-03-2231 minThe Planning For Retirement PodcastEp. 2 - The Tax Trap of Traditional 401ks and IRAsIn this episode we will address how accumulating significant savings into Traditional 401ks and IRAs can lead to a massive tax burden in retirement. Additionally, we will be addressing the provision in the SECURE Act which will change the way we view leaving these retirement plans to the next generation.
2021-02-1225 minThe Planning For Retirement PodcastEp. 1 - Introduction to The "Planning For Retirement" PodcastThis is our inaugural episode of the Planning For Retirement Podcast. Therefore, I want to simply introduce the WHY behind this podcast as well as let all of the listeners know about my background both personally and professionally. Lastly, I will tease the next episode content and hope you all enjoy what we are bringing to the table.
2021-02-0115 min
Life in the Front Office Podcast Presented By Sports Business VenturesKevin Lao, Partner Manager at GoogleEp 2 on the Sports Biz Camps Series with Kevin Lao. We dive into his path, why he is involved, and why he believes in the mission of Sports Biz Camps.
2020-03-1115 min