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Protecting & Preserving WealthLeaving Your Assets Tax Advantaged and Tax Free: Estate and Legacy Planning Part 4 of 6In this episode of Protecting and Preserving Wealth, we continue our estate and legacy planning series, focusing on strategies to leave assets in a tax-advantaged or tax-free manner. Bruce Hosler, Alex Koury, and Jason Hosler from Hosler Wealth Management join Jon Gay to break down key approaches to optimizing wealth transfer while minimizing tax burdens.We start by distinguishing between tax-advantaged and tax-free assets. Tax-advantaged assets, like traditional retirement accounts (IRAs, 401(k)s, and 403(b)s), allow for tax-deferred growth but are taxed as ordinary income upon withdrawal. This can result in higher tax rates, especially when...2025-07-1619 minProtecting & Preserving WealthSecuring Your Estate: What To Do Now - Part 2In part two of our series with estate attorney Jon Linford, we dive into crucial estate planning considerations as we approach the 2026 sunset of the Tax Cuts and Jobs Act. The primary focus is on the significant changes to the estate tax exemption that will occur when the current law sunsets, reducing the exemption from $13.6 million per person to an estimated $7 million.We discuss the implications of this change and the urgency for individuals to update their estate planning strategies. Jon Linford explains that the estate tax is a substantial 40% on amounts above the exemption, making it...2024-09-1815 minProtecting & Preserving WealthEssential Estate Planning: Navigating Trusts, Taxes, and Digital Assets with Jon Linford - Part 1In part 1 of our Estate Planning Podcast Episodes, I welcome Jon Linford, a seasoned estate planning attorney from Morris Hall. We delve into the complexities and critical considerations of estate planning, a topic of utmost importance for anyone concerned about their financial future. Jon, who has been practicing law since 2011, transitioned from civil litigation to estate planning, driven by a passion for protecting clients' assets and ensuring smooth transitions for their estates.The conversation centers on the benefits and nuances of setting up a living trust, particularly in Arizona. Jon emphasizes that while not everyone may need...2024-09-0425 minProtecting & Preserving WealthMOVING TO TAX-FREE™ Bruce's New BookIn this episode of "Protecting and Preserving Wealth," we dive into the significance of moving financial assets to tax-free vehicles, a topic Bruce Hosler has extensively explored in his new book, "Moving to Tax-Free™." Bruce, alongside Jason Hosler and host Jon Jag Gay, discusses the critical nature of planning for a tax-free retirement, emphasizing the importance of strategic financial planning to mitigate future tax burdens.Bruce opens the conversation by highlighting the central question of whether tax rates in the United States will increase, decrease, or remain the same over the next decade. This question is pivotal as...2024-04-0314 minProtecting & Preserving Wealth2024 Interest Rate OutlookToday, Bruce and Jason Hosler delve into the financial landscape of 2024, focusing on the pivotal role of interest rates, the ongoing impact of inflation, and the potential influence of the presidential election on the economy.The Federal Reserve had significant influence on the financial events of 2023, particularly through historic rate increases and a subsequent pause. We collectively foresee this trend continuing to shape the markets in 2024. We recognize that the market's recent fluctuations are largely a result of the COVID-19 pandemic and the government's response, which included aggressive measures to combat rising inflation.We explore...2024-01-1715 minProtecting & Preserving WealthThe US Debt Clock - And What It Can Tell YouToday, Bruce Hosler and Jon Gay dive into the financial realities of the United States, focusing on the website USDebtClock.org. This website offers real-time data on national finances, including our ever-increasing national debt. As of this podcast, the U.S. national debt is at about $33.7 trillion, a steep increase from $27 trillion just three years ago.We also discuss the significance of debt-to-GDP ratio. Currently, the U.S. debt-to-GDP ratio stands at an alarming 124.42%, which is far higher than it has been in past years. This ratio is concerning for several reasons, especially considering that federal spending...2024-01-0314 minProtecting & Preserving WealthThe Corporate Transparency Act - What You Need to KnowBruce and Jason Hosler discuss the Corporate Transparency Act (CTA) implications for small business owners. The CTA, a new regulation set by the Treasury Department's lesser-known division, The Financial Crimes Enforcement Network (FinCEN), mandates that most small businesses disclose comprehensive information about their beneficial owners. This mandate includes personal and contact details, requiring a new application process starting January 1st, 2024.Bruce elaborates on the Beneficial Ownership Information (BOI) regulations, which define a beneficial owner as anyone who either directly or indirectly exercises substantial control over a company or owns at least 25% of its shares. For sole member...2023-12-1315 minProtecting & Preserving WealthUse the Buckets of Money strategy for retirement incomeIn this episode of the "Protecting and Preserving Wealth" podcast, host Bruce Hosler and Jon Gay dive deep into the Buckets of Money strategy for retirement income. Amidst a backdrop of stock market volatility, geopolitical tensions, and inflation, Bruce presents the Buckets of Money strategy as a safeguard against Sequence of Return Risk—a serious risk retirees face when market downturns coincide with the early years of retirement.Bruce breaks down the strategy into four distinct "buckets," each designed for a different period of one's retirement. The first bucket covers years 1-5 and is heavily oriented towards co...2023-12-0610 minProtecting & Preserving WealthWhat Did You Learn About Money Growing Up?In this episode of the Protecting and Preserving Wealth Podcast, Jon Gay and Bruce Hosler discuss the importance of early financial lessons and their lasting impact. Bruce begins client relationships by asking them clients about their childhood money experiences, highlighting how these early lessons shape our financial behaviors.Today, we explore how different family dynamics influence financial attitudes. Some families openly discuss money, while others keep it private. Jon shares his middle-class upbringing and how it influenced his budgeting approach, with his wife taking on a key financial role.Bruce, drawing from his experience as...2023-11-1521 minProtecting & Preserving WealthHaving a Will is Not a Complete Estate PlanIn this episode of the Protecting and Preserving Wealth Podcast, host Bruce Hosler and Jon dive into the crucial topic of why having a will is only a partial estate plan - exploring the significance of beneficiary forms and their power in estate planning.We begin by explaining the importance of beneficiary forms, emphasizing that they can override the instructions in your will or trust. Bruce highlights the various types of accounts that require beneficiary forms, such as 401(k)s, pension plans, IRAs, annuities, and life insurance policies.You will hear Bruce cover the concept...2023-11-0114 minProtecting & Preserving WealthSwitching Social Security BenefitsToday, Jon Gay, Bruce Hosler, and Jason Hosler from Hosler Wealth Management discuss various aspects of Social Security benefits and switching strategies. They start by explaining the concept of switching benefits, which allows individuals to switch to a new benefit when they become entitled, especially if it is higher than their current benefit. They emphasize that the Social Security Administration doesn't always notify people about switching opportunities, so individuals may not be aware of higher benefits available to them. You will hear an example of an expert who received a misleading letter from the Social Security Administration, h...2023-10-1815 minProtecting & Preserving WealthEstate PlanningToday, Bruce and Jon are joined by Alex Koury, a wealth advisor with Hosler Wealth Management from the Scottsdale office, speaking about Estate Planning in this episode. We delve into the critical topic of estate planning in a clear and straightforward manner. Bruce begins by emphasizing the essential role of a Will, especially for parents with minor children. A Will determines who will care for the kids in unforeseen circumstances, avoiding potential family disputes.The conversation then shifts to the significance of beneficiary designations. These designations play a pivotal role in asset distribution, particularly for acco...2023-10-0413 minProtecting & Preserving Wealth529 Plan Update for 2023In this episode of "Protecting and Preserving Wealth," Bruce and Jon dive into a comprehensive discussion about the intricacies and nuances of 529 plans. These plans, designed to aid in saving for educational expenses, offer a range of benefits that extend beyond traditional college savings.We highlight the potential tax advantages of 529 plans, one of which is an appealing opportunity for grandparents and parents to contribute and receive a tax deduction. Additionally, distributions are tax and penalty-free for qualified educational expenses. The discussion delves into the array of expenses that qualify for these distributions, including college-related c...2023-09-0613 minProtecting & Preserving WealthStop Contributing to IRAs and 401KsIn this episode of "Protecting and Preserving Wealth," Bruce and Jon discuss a counterintuitive approach: discontinuing contributions to traditional IRAs and 401ks. Drawing insights from IRA distribution expert Ed Slott, I challenge established retirement planning conventions. Slott is a recognized authority in IRA planning, is a professional speaker, best-selling author, and well-regarded by The Wall Street Journal and USA Today. Slott's premise questions the conventional advice of maximizing contributions to tax-deferred accounts. His article in Investment News presents an alternative perspective, suggesting that lower retirement tax rates are not guaranteed. Instead, he argues that deferred withdrawals c...2023-08-2312 minProtecting & Preserving WealthAvoiding Estate Planning Mistakes, Part 2Bruce Hosler and Jon Gay list eight mistakes in the second half of our 2-part series on Avoiding Estate Planning Mistakes. They include:Failing to establish an estate plan.Failing to fund your trust.Failing to update beneficiary designations after life changes.Failing to plan for estate taxes, gift taxes, and a taxable estate.Annual gift tax exemption mistakes (gift-spitting).Improper titling (Community property states, including Arizona)."Do-It-Yourself" children that don't seek professional guidance.Not knowing the newest inherited IRA rules under SECURE Act 2.0.After you hear how costly these mistakes can be, you'll want to steer c...2023-03-2214 minProtecting & Preserving WealthAvoiding Estate Planning Mistakes, Part 1Today, Bruce sits down with Jon Gay for the first of a two-part series on avoiding estate planning mistakes. Sadly, we see these mistakes every day. We'd like to help you avoid them.How do you know if you need a Trust or a Will? Who should have a Trust, and what are the benefits of a Revocable Trust?Also, consider these documents:Pour-over WillRevocable Living TrustDurable Financial Power of AttorneyDurable Health Care Power of AttorneyLiving WillMental Health Care Power of Attorney (Arizona)Beneficiary Deed (Arizona)Beneficiary designation forms for all bank investment accounts w...2023-03-0815 minProtecting & Preserving WealthYour Annual Gift Tax ExclusionThe Annual Gift Tax exclusion amount is increasing from $16,000 to $17,000 in 2023. Today, Bruce and Jon explain the importance of this, and why these rules can have significant financial ramifications for years to come - not just for you, but for your heirs as well.If you exceed the annual gift tax amount, you'll need to file a gift tax return - paperwork that will also need to be retained for quite some time. But as long as you stay within these limits, you can whittle down the amount left to your heirs, potentially reducing or even eliminating es...2023-02-1508 minProtecting & Preserving Wealth1031 Exchanges Using a Delaware Statutory TrustToday, Bruce Hosler of Hosler Wealth Management explains the Delaware Statutory Trust, or DST, and how it can be used as part of a 1031 Exchange.First, let's define a 1031 Exchange - it allows property owners to take the proceeds of a sale of real estate and reinvest those same proceeds into another property without having to recognize a capital gain and without having to pay the taxes on the sale. They get to defer the gains and add them to the new property.Within a 1031 Exchange, a DST is a trust that is set up...2022-12-0710 minProtecting & Preserving WealthAsset-Based Long-Term Care Insurance (LTC)Asset-based long-term care insurance is something Bruce Hosler and the team at Hosler Wealth Management work on frequently for our clients. Traditional long-term care will require you to pay a premium until you go on claim, and rates can often change. However, asset-based long-term care premiums are paid with assets; therefore, they can't raise the premium or modify your terms. For a married couple age 65, there is a 70 percent chance at least one of them will need long-term care. Rather than bet against those odds, this allows you to share some of that risk with an insurance p...2022-11-0214 minProtecting & Preserving WealthAsset-Based Long-Term Care Insurance (LTC)Asset-based long-term care insurance is something Bruce Hosler and the team at Hosler Wealth Management work on frequently for our clients. Traditional long-term care will require you to pay a premium until you go on claim, and rates can often change. However, asset-based long-term care premiums are paid with assets; therefore, they can't raise the premium or modify your terms. For a married couple age 65, there is a 70 percent chance at least one of them will need long-term care. Rather than bet against those odds, this allows you to share some of that risk with an insurance p...2022-11-0214 minProtecting & Preserving WealthWhat Are We Protecting Wealth FROM?The name of our podcast is "Protecting and Preserving Wealth." But what exactly are we protecting our wealth from? Today, Bruce Hosler of Hosler Wealth Management sits down with Jon Gay to explain:TaxesInflationFinancial and Estate Planning MistakesClient MistakesPoor Investment ManagementBruce explains how he and his team are uniquely qualified to help you in each of these areas, thanks to their professional training and credentials across multiple disciplines.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hos...2022-09-0712 minProtecting & Preserving WealthThe 5-Year Rule With Roth IRAs and Roth 401KsToday, Bruce Hosler of Hosler Wealth Management sits down with Jon Gay to talk about the "5-year rule" regarding Roth IRA and Roth 401K accounts. These rules are in place to encourage investors not to withdraw from their Roth accounts before age 59 1/2. And if these rules aren't followed, they can result in stiff tax penalties!Bruce explains:When the clock starts on the 5-year ruleThe difference between a qualified and non-qualified distributionWhat is a triggering event?What are the differences in rules between Roth 401K accounts and Roth IRA accounts?How can you get around the 5...2022-08-1711 minProtecting & Preserving WealthConvert Your IRA to a Roth IRA on a Market DipToday, Bruce Hosler of Hosler Wealth Management talks about converting your IRA into a Roth IRA, and why a market dip is a good time to do so.First, Bruce and Jon go over requirements for these conversions, such as deadlines and how required minimum distributions, or RMD's, come into play. When markets are down, stocks and taxes are "on sale." They are often below fair value. So a conversion in a down market means paying taxes on the lower value, then watching the value come back tax free if and when the investments rebound.2022-07-2013 minProtecting & Preserving WealthInterest Rates: How High Will They Go?Today, Bruce Hosler and Jon are talking about interest rates. They've been on the rise in 2022, but how high will they go?How high does the fed want to raise the Fed Funds Rate?How long will the fed keep raising interest rates?What will cause the Fed to stop raising interest rates?Is a recession coming?How will higher interest rates affect businesses?Is there any good news with higher interest rates?What about our national debt? How will higher interest rates affect that?...2022-07-0612 minProtecting & Preserving WealthAll About InflationIn today's episode, Bruce Hosler of Hosler Wealth Management sits down with Jon Gay to talk about the one topic on everyone's mind in 2022 - INFLATION.What is causing this inflation? Demand/Supply imbalanceMore money chasing less products. (Supply chain)Shortages of availability (Housing)What is Demand Destruction?Higher mortgage interest rates (Already reports of sellers lowering their asking prices)Higher gas prices (Less Travel)Higher Diesel prices make the costs of all good that must be transported by ship or truck or train more expensive due to much higher transportation costs.How l...2022-06-2214 minProtecting & Preserving WealthWill US Tax Rates Go Up or Down?One of the most common questions Bruce Hosler and the team at Hosler Wealth Management are asked: "Will taxes go up or down?" And while we don't have a crystal ball, there are some pretty strong indications that taxes are going to go up.First, the 2017 Tax Cuts and Jobs Act, without any intervention from Congress, will sunset in 2025, returning all tax rates to their previous, higher levels.Next, our national debt sits at $29 trillion dollars. With interest rates going up, the debt service on that number is going to go up. This will also a...2022-06-0813 minProtecting & Preserving WealthWhat does "Tax Free" Mean?In our first episode, Bruce Hosler of Hosler Wealth Management sits down with co-host Jon Gay to explain the term "tax-free." What does it really mean?When you're looking at retirement income, you don't want that income to be taxed at the federal or state level. Furthermore, you don't want it to count as provisional income against your social security. Bruce takes us through some different vehicles he and his team employ here - including Roth IRAs and life insurance retirement plans.With the large government spend on COVID relief, and the Tax Cut...2022-05-2512 min