Shows
Retirement RoadmapDelay Retirement or Retire Now? Here’s How to DecideRetirement isn’t one-size-fits-all—and delaying retirement can be a smart move for some people and a mistake for others.In this episode of Retirement Roadmap with Master Plan Retirement Consultants, Evan and retirement planner Mark Fricks walk through the most common reasons people work longer (financial security, purpose, flexibility) and the key tradeoffs you need to evaluate before you choose a retirement date.We cover:Why more people are delaying retirement (and even “unretiring”)The real retirement math: savings, timeline, and income planning (not a “magic number”)Social Security timing: why the “wait ti...
2025-12-2025 minRetirement RoadmapThe Truth About Social Security in Your Retirement PlanAre you treating Social Security like an on/off switch instead of a key part of your retirement income plan? In this episode of Retirement Roadmap, Mark Fricks and Evan Fricks walk through how Social Security really works—and why the decision is about far more than just picking an age between 62 and 70. From misunderstood “full retirement age” rules to inflation, healthcare costs, and earned-income limits, they show how Social Security fits into the bigger picture of your retirement strategy.Drawing on decades of retirement-planning and Social Security experience, Mark and Evan explain why the program was never...
2025-12-1224 minRetirement RoadmapMajor 2026 Changes to 401(k)s, IRAs, and Roth Strategies ExplainedThe retirement planning landscape is changing again in 2026—and for many savers, especially higher earners, the rules are becoming more complex.In this episode of Retirement Roadmap, Evan and retirement planner Mark Fricks break down the most important 2026 changes affecting 401(k)s, IRAs, Roth accounts, and employer-sponsored plans. These updates create new opportunities to save more, but they also introduce new restrictions that could catch people off guard if they’re not prepared.We cover:New 2026 contribution limits for 401(k)s, 403(b)s, 457(b)s, and IRAsRequired Roth treatment for catch-up contributions for higher earn...
2025-12-1225 minRetirement RoadmapHow To Build a Purpose-Driven Retirement for 2026How do you build a retirement that actually feels meaningful, not just mathematically correct?In this episode of Retirement Roadmap, Mark Fricks and Evan Fricks break down why retirement planning isn’t only about "saving enough." It’s about aligning your money with what gives your life purpose in 2026 and beyond.Drawing on decades of hands-on retirement planning experience, Mark and Evan explain how purpose, income planning, Social Security, healthcare costs, investments, and taxes all work together. When you shift from "What should I do?" to "What matters most to me?", your retirement decisions become clearer, calm...
2025-11-2424 minRetirement RoadmapDon’t Fall for These 5 Estate Planning MythsDo you believe an estate-planning myth? In this episode of Retirement Roadmap, Mark Fricks and Evan Fricks break down the most common misconceptions that cause even “well-prepared” families to face chaos when it matters most. From outdated wills to unfunded trusts and missing powers of attorney, they expose the hidden gaps that can make your plan collapse when your family needs it most.Drawing from decades of hands-on retirement and estate-planning experience, Mark and Evan explain why estate planning isn’t a one-and-done event or something only the wealthy need. They reveal how fast-changing laws, family...
2025-10-3025 minRetirement RoadmapIs Your Family Ready For The Great Wealth Transfer?As trillions of dollars shift hands over the next two decades, the question isn’t whether your wealth will transfer — it’s how. In this episode of Retirement Roadmap, Mark and Evan break down The Great Wealth Transfer—the unprecedented movement of assets from today’s retirees to their heirs—and show how to turn this generational shift into a thoughtful, tax-efficient family strategy.Drawing from decades of real-world advisory experience, Mark and Evan explain why successful wealth transfers require more than a will or a trust. They unpack the key diff...
2025-10-2224 min
Retirement RoadmapElder Law Insights from Attorney Miles HurleyPlanning for your golden years without considering elder law is like building a house without a roof – leaving you exposed when storms hit. Attorney Miles Hurley, one of only twelve certified elder law attorneys in Georgia, reveals the crucial differences between basic estate planning and comprehensive elder law on this eye-opening episode of Retirement Roadmap.Drawing from both professional expertise and personal experience with family members' end-of-life journeys, Miles shares how his grandfather's nursing home experience sparked his dedication to helping seniors maintain dignity while aging. He clarifies that while estate planning focuses on what happens after de...
2025-08-2824 min
Retirement RoadmapThe Tax-Free Retirement BlueprintWe tackle the often-overlooked issue of retirement tax liability and explore strategies to create tax-free income streams for a potentially more secure financial future.• Understanding the "mortgage" on qualified plans (401(k)s, IRAs) where the IRS owns an unknown percentage of your savings• The current "tax sale" has been extended but will eventually end with rates likely rising dramatically• Strategic Roth IRA conversions can move money from tax-deferred to tax-free status during this window of opportunity • "Super Roth" life insurance policies offer tax-free income, death benefits, and potential long-term care coverage• Tax location matters as...
2025-08-2124 min
Retirement RoadmapFrom Checkers to Chess: Mastering the Strategic Game of Retirement PlanningAre you playing retirement checkers when you should be mastering retirement chess? This episode unpacks a powerful analogy that demonstrates why traditional retirement planning often falls short.When approaching retirement, most people arrive with what amounts to a checkerboard and a bag of identical checkers—assets that have served a single purpose during working years: growth. But retirement demands a more sophisticated approach. Like chess pieces with their unique movements and capabilities, your retirement assets may need specialized roles to create a truly effective strategy.Mark and Evan walk listeners through the process of transforming th...
2025-08-1424 min
Retirement RoadmapTax Cuts Extended: What the One Big Beautiful Bill Act Means for RetireesThe new federal budget bill makes the 2017 tax cuts permanent, creates a temporary senior deduction, and raises estate exemptions, but also adds $3.4 trillion to national debt while cutting social safety nets. We explore what these changes mean for retirement planning and identify strategies to maximize the limited window of opportunity created by today's low tax environment.• Tax cuts from 2017 now permanent, but historically "permanent" tax changes typically last only 8-12 years• New senior deduction of $6,000 (single) or $12,000 (couples) for those 65+ available for tax years 2025-2028• Estate tax exemption raised to $15M individual/$30M couples• $1 trillion...
2025-07-3124 min
Retirement RoadmapMaximizing Your 401(k): Hidden Strategies and Common PitfallsWe explore how to maximize your 401(k) balance and integrate it effectively into your overall retirement strategy.• 401(k) plans emerged in 1979, giving workers an automatic way to save for retirement without employer-provided pensions• Most Americans lack proper education on 401(k) investing, contributing blindly without understanding rules or optimal strategies • We discuss how to start with your employer match and gradually increase contributions, especially after receiving raises• Consider Roth 401(k) options for tax-free growth but recognize the immediate impact on take-home pay• Early withdrawals before 59½ trigger penalties, but leaving a job after age 55 may create a pen...
2025-07-2424 min
Retirement RoadmapAvoiding the IRMAA Trap: Strategic Income Planning for MedicareThe Income-Related Monthly Adjustment Amount (IRMAA) is a Medicare surcharge that can significantly increase your healthcare costs in retirement based on income from two years prior.• IRMAA affects both Medicare Part B and Part D premiums, potentially adding over $500 per month per person• The surcharge is based on your Modified Adjusted Gross Income (MAGI) from two years prior• Income thresholds begin at $106,000 for individuals and $212,000 for joint filers• One-time income events like selling property or Roth conversions can trigger IRMAA• Higher premiums due to IRMA do not provide better coverage - everyone gets the same b...
2025-07-0324 min
Retirement RoadmapTime is Flying in 2025: Have You Caught Up With Your Financial Goals?We examine essential mid-year financial steps that could help you finish the year strong and brighten your financial future. Time flies by quickly, making it crucial to check in on your financial goals periodically rather than putting them off indefinitely.• Consider saving for retirement early, even if in small amounts, to harness the power of compound interest• Check your workplace retirement plans - many now offer automatic enrollment at 3%, but experts recommend aiming for 10-15% contribution rates• Consider taking advantage of catch-up contributions at age 50 ($7,500 extra in 401k) and the new higher limits between ages 60-63 ($...
2025-06-1924 min
Retirement RoadmapLiving Too Long: The Financial RiskLongevity risk presents a significant challenge for retirees, with medical advancements potentially extending lifespans and creating decades-long retirements that require careful financial planning.• Running out of money in retirement is often feared more than death itself• Life expectancy now averages 79.5 years for men and 82 years for women• Most retirees now believe they need about $1.5 million to retire comfortably• Estimate your personal timeline based on health, family history, and lifestyle• Consider delaying Social Security to age 70 for up to 77% higher payments• Explore appropriate annuities for guaranteed lifetime income• Consider adopting a flexible withdrawal str...
2025-06-1224 min
Retirement RoadmapBeyond the Check: Reimagining Retirement When Social Security Isn't EnoughSocial Security has reached a milestone with the average check surpassing $2,000 monthly for the first time in June 2025, but this achievement highlights serious concerns about retirement security in America.• Maximum benefit for those claiming at age 70 will be $5,108 per month• Social Security was designed to replace only about 40% of pre-retirement income• Cost of living adjustments are designed to lag behind actual inflation rates• Nearly 90% of people over 65 receive benefits, with 40% relying on it for half their income• One in seven seniors depend on Social Security for over 90% of their income• The U.S. has the h...
2025-06-0524 min
Retirement RoadmapDebunking Dangerous Retirement MythsWe explore eight common retirement planning myths that could potentially derail your financial future and explain why these outdated beliefs may no longer apply to today's retirement landscape.• The 4% withdrawal rule from the 1990s has been updated to 2.8% by Morningstar research, meaning you need significantly more savings to generate the same income• Social Security isn't going bankrupt, but its trust fund may be depleted by 2032-2034, potentially reducing benefits by about 20%• Social Security was designed to replace only 40% of pre-retirement income, not the 70-80% many retirees depend on it for• Keeping all investments in cash dur...
2025-05-2924 min
Retirement RoadmapShockproofing Your Retirement: Essential SafeguardsWe explore the unexpected financial shocks that can derail even the most carefully constructed retirement plans and discuss strategies to help prepare for these challenges.• Healthcare costs average $315,000 for couples throughout retirement, yet most Americans estimate only $75,000• Medicare has significant gaps requiring additional coverage and costs that increase annually• 70% of adults who reach age 65 will need long-term care, with annual costs ranging from $47,000 to $131,000• Traditional long-term care insurance has become problematic, but alternative solutions exist• Home repairs and aging-in-place modifications can require substantial withdrawals from retirement accounts• 75% of Americans over 50 want to remain in th...
2025-05-2224 min
Retirement RoadmapWhen Career Plans Crumble: Strategic Options for Pre-Retirement LayoffsFacing a layoff when retirement is on the horizon can feel devastating. That carefully planned timeline suddenly collapses, leaving you wondering if your retirement dreams are still possible. But what seems like a crisis might actually be an opportunity—if you know how to navigate it.This episode dives deep into the strategies and considerations for those experiencing job loss within five years of retirement. Rather than making panic-driven decisions, we explore how to take stock of your situation, protect what you've built, and potentially discover that retirement is closer than you think.Many clients co...
2025-05-1524 min
Retirement RoadmapMarket-proof Your Retirement: Income Strategies for Any MarketThe traditional rules of retirement planning have changed dramatically in recent decades, calling for new strategies to generate plans for reliable income regardless of market conditions. Increased market volatility since 2000 has rendered the old "4% rule" obsolete, now reduced to 2.8%, while tax implications, sequence of returns risk, and the shift from pensions to 401(k)s create additional challenges.• Market volatility has increased significantly: 1980-1999 averaged 17.75% returns vs. just 6.06% from 2000-2020• The 4% withdrawal rule has been reduced to 2.8%, which means larger portfolios are needed to generate the same income• Withdrawing from market-based accounts during downturns locks in losses...
2025-05-0824 min
Retirement RoadmapUnconventional Retirement StrategiesWhat if your dream retirement looked nothing like the standard Florida condo and golf course scenario? Evan and Mark dive into wildly unconventional retirement strategies—some absurd, some surprisingly practical—that could transform how you envision your golden years.The conversation begins with AI-generated oddball ideas like starting hobby-based cults and living in haunted houses before evolving into legitimately viable alternatives many retirees already embrace. From converting school buses into solar-powered tiny homes to living year-round on cruise ships (which may actually cost less than nursing homes), these alternatives challenge conventional retirement wisdom while possibly offering unique adva...
2025-04-2424 min
Retirement RoadmapRetiring in Turbulent Markets: Is 2025 Still Your Year?Market volatility in 2025 doesn't have to derail retirement plans if you've properly structured your income sources and diversified your investments. Proper retirement planning involves creating stable income buckets that aren't totally dependent on market performance, allowing retirees to weather economic storms with confidence.• Sequence of returns risk can pose a significant danger when withdrawing from declining investments• Traditional retirement income approaches like dividend stocks or bonds may only yield 2-4% and can lack stability• Professional retirement planning should involve creating guaranteed income streams of 5-6% regardless of market conditions• Having income buckets prepared before retireme...
2025-04-1724 min
Retirement RoadmapThe 10 Scariest Things About Retirement (And How to Face Them)We examine the most common retirement fears that prevent people from planning effectively and offer practical solutions to address them.• Running out of money tops the list of retirement concerns as people face longer lifespans without traditional pensions• Healthcare costs average around $335,000 for a retired couple, with Medicare covering less than many expect• Loss of identity and social isolation after leaving the workforce can lead to depression and accelerated health decline• Creating purpose through volunteering, social activities and new interests helps maintain mental and physical health• Longevity risk requires planning for potentially decades of retirem...
2025-04-1024 min
Retirement RoadmapWorking Beyond Retirement: The Benefits of Part-Time JobsWe explore the financial and emotional benefits of part-time employment during retirement, discussing how it can both extend retirement savings and provide a sense of purpose during this major life transition.• Part-time work provides social connections and purpose when transitioning from decades of career identity• Working in retirement can help extend retirement funds by supplementing income and reducing the need to deplete savings• Delaying Social Security through part-time income can increase benefits by 6-8% per year• Continuing to earn income allows for ongoing retirement account contributions rather than withdrawals• Working part-time may help improve So...
2025-04-0324 min
Retirement RoadmapSpring Clean Your Retirement Plan: Part IIWe explore strategies for optimizing your retirement plan with timely adjustments that can significantly impact your financial future. Spring cleaning your retirement plan involves reviewing multiple interconnected elements that work together to help secure your financial well-being.• Roth conversion strategies while taxes are potentially at historic lows• Evaluating tax brackets and timing conversions for maximum effectiveness• Creating a comprehensive withdrawal strategy beyond Social Security• Planning for healthcare costs averaging $300,000 per retired couple• Understanding the 6% inflation rate on healthcare expenses• Reviewing estate planning documents for state-specific compliance• Checking beneficiary designations that override will provision...
2025-03-2724 min
Retirement RoadmapSpring Clean Your Retirement Plan: Part IWe explore several strategies for spring cleaning your retirement plan. Retirement planning deserves regular attention and adjustments as your life circumstances and the economic landscape evolve.• Reviewing retirement accounts regularly to check balances, investment allocations, and risk levels based on your age• Considering contribution limits and ensuring you're at least capturing employer matches• Examining your savings rate and finding ways to increase contributions by cutting unnecessary expenses• Defining your retirement vision including lifestyle expectations to better estimate your financial needs• Developing a comprehensive Social Security strategy that plans to maximize benefits for your situation
2025-03-1324 min
Retirement RoadmapTariff Talk: How Global Trade Impacts Your RetirementThis episode dives deep into the current economic climate, focusing on how tariffs can affect the retirement landscape. We explore actionable steps to help secure your financial future amid rising costs and market volatility. - Understanding tariffs and their implications on consumer prices- Historical context of tariffs versus the modern tax system- How you can put your cash to work in during retirement- Constructing a comprehensive retirement contingency plan - Diversifying your investments for a better chance at financial stability- Health maintenance as a key factor to consider in...
2025-02-2724 min
Retirement RoadmapRetirement Adventures: Embracing Freedom and Volunteering at National Parks and Historic SitesRetirement is more than just a financial milestone—it's an emotional and physical transformation. As we share the story of Will and Jen Hagler, you'll hear how the COVID-19 pandemic prompted them to reassess their work-life balance and embark on an enriching retirement journey. Jen's poignant recollection of her father's unfulfilled dream to see the Grand Canyon serves as a powerful reminder to chase personal goals while we still can. Their experiences highlight the invaluable freedom and time retirement offers, inspiring you to consider your own aspirations and adventures during this stage of life.Shifting from personal in...
2025-02-2024 min
Retirement RoadmapDecoding Retirement Milestones: Age-Based Strategies for Financial SuccessThis episode highlights seven crucial age milestones for effective retirement planning and the strategic decisions that accompany each. Listeners learn how these milestones—from catch-up contributions to Social Security eligibility—can shape a well-structured financial future.• Age 50: Eligibility for catch-up contributions to retirement accounts • Age 59 1⁄2: Tax-free rollovers from 401(k)s to IRAs • Age 62: Considerations for collecting Social Security • Age 65: Eligibility for Medicare and healthcare planning • Ages 66-67: Achieving full retirement age for Social Security • Age 70: Timing for maximum Social Security benefits • Age 73: Required minimum distributions and associated rulesHave a topic or question you'd...
2025-02-1324 min
Retirement RoadmapEmbracing the Silver Tsunami: How Retirees are Reshaping Society and HealthcareThe episode delves into the implications of the Silver Tsunami as baby boomers begin retiring en masse, examining demographics, healthcare costs, and the wealth transfer that will impact future generations. Effective retirement planning is crucial to navigating the shifting landscape shaped by this demographic shift.• Discussion on baby boomers and their retirement statistics • Examination of healthcare demands and long-term care needs • Impact on Social Security and Medicare funding • Exploration of long-term care insurance options • Insights into generational wealth transfer and legacy planning • Emphasis on proactive retirement planning strategiesHave a topic or question...
2025-02-0624 min
Retirement RoadmapNavigating Federal Retirement: FERS and Maximizing Your TSPFederal employees face significant changes in retirement policies that can impact their benefits. Understanding FERS and TSP is crucial for effective planning, and proactive education is emphasized throughout the discussion. • Overview of recent changes affecting federal employees • Importance of understanding federal benefits for retirement • Insight into FERS and its advantages • Discussion of survivor benefits and their implications • The role of TSP and investment strategies within it • Caution regarding the mutual fund window and associated costs • Encouragement for federal employees to seek education and guidance Do you want to learn more about what you...
2025-01-3024 min
Retirement RoadmapHow Much Can I Spend in Retirement?Understanding how much you can spend in retirement is complex, influenced by various factors including lifestyle, expenses, and resources. We provide insights into budgeting for retirement and highlight the significance of professional planning in your path toward financial security. • Highlighting the uncertainty around retirement spending • Importance of assessing current and future needs • The dynamics of retirement spending phases • Avoiding one-size-fits-all retirement savings guidance • The significance of budgeting before and during retirement • Addressing taxes and account diversification • Engaging with professional advisors for customized plansHave a topic or question you'd like Mark and...
2025-01-2324 min
Retirement RoadmapShould I Break up With My Financial Advisor?: Communication, Fees, and Finding the Right FitWhen's the last time you reevaluated your relationship with your financial advisor? This episode discusses critical factors like communication issues, alignment of financial goals, fee transparency, and the importance of a fiduciary relationship. • Importance of regular communication with your advisor • Adaptability of your advisor in line with your changing goals • Understanding fees and ensuring transparency • Seeking new perspectives and ideas from financial professionals • Addressing ethical concerns and prioritizing trust in the advisor relationship • Recognizing the distinction between general financial advisors and retirement plannersHave a topic or question you'd like Mark and Eva...
2025-01-1724 min
Retirement RoadmapMaximizing Social Security: The Fairness Act's Impact and Strategic Retirement PlanningThis episode explores the recent Social Security Fairness Act (HR 82), which eliminates the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) that unfairly reduced benefits for many public servants. Listeners learn about the implications of these changes, how they will receive increased benefits, and the importance of staying informed about Social Security, alongside discussions of the overall sustainability of the Social Security system.• Review of the Social Security Fairness Act and its implications • Elimination of the Windfall Elimination Provision and Government Pension Offset • Explanation of benefits for affected retirees • Importance of updating personal informat...
2025-01-0924 min
Retirement RoadmapYour Retirement Anti-bucket List: Common Retiree Experiences You Don’t Want to HaveYou may have started thinking on your "bucket list" but have you given thought to things that you do not want to be a part of your retirement experience? Imagine spending more time on meaningful activities and less on the grind. Retirement isn't just about finances; it's about finding purpose beyond a career and navigating an entirely different season of life with various challenges. Listen to our stories from working with hundreds of retirees about pitfalls to avoid and high points to pursue during your retirement, as well as wisdom gleaned from Kiplinger's article Retirees’ Anti-Bucket List: 10 Experiences You Do...
2024-12-1224 min
Retirement RoadmapMinimizing Retirement Tax Burdens: Strategies for 401(k)s, IRAs, and Tax-Efficient InheritanceCould understanding the intricacies of retirement tax planning be the key to unlocking a stress-free retirement? Join Evan and Mark Fricks, as they dissect several strategies for minimizing tax burdens on large pre-tax accounts like 401(k)s and IRAs. They highlight the importance of integrating income and tax planning, and offer insights into avoiding early withdrawal penalties. Learn how rollovers can potentially optimize your retirement accounts and why working with specialized advisors can be essential for crafting personalized financial strategies.Have a topic or question you'd like Mark and Evan to address in a future episode? Email...
2024-11-2724 min
Retirement RoadmapSupporting Veterans: Transformative Care Initiatives with Kim Scofi of United Military CareJoin us for a heartfelt journey with Kim Scofi, founder and President of United Military Care, as she shares her inspiring path into veteran support. With a backdrop of personal military ties and the pressing needs she observed, Kim reveals how her organization is transforming veteran care through personal case management, impactful "We Care Vet Fairs," and the Georgia Veterans Network. You'll learn about the 11 pillars of care that these initiatives cover, providing essential services like mental health support and employment opportunities. Listen closely to discover how community involvement and education play a crucial role in integrating veterans into...
2024-11-2124 min
Retirement RoadmapDemystifying Medicare: Parts A & B, Supplement vs Advantage Plans, and Enrollment EssentialsPrepare yourself to gain a clear understanding of the often-confusing world of Medicare with the guidance of our guest, Buddy Friend, of Senior Benefits of Georgia. With over a decade of experience in Medicare insurance, Buddy unpacks the essentials of Parts A and B for you, detailing the ins and outs of hospitalization and physician coverage. Discover the cost structures, including when Part A is free and how income affects Part B premiums. Buddy's insights into Medicare's foundational elements will help you to know what to expect from your healthcare options.Have a topic or question you'd...
2024-11-1424 min