The Early Retiree’s Guide to Health Insurance with Grayson Blazek, Ep #229

Financial Symmetry: Balancing Today with Retirement

Financial Symmetry: Balancing Today with Retirement

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추가했습니다 seven 년 전

Financial Symmetry, Chad Smith, and Mike Eklund에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Financial Symmetry, Chad Smith, and Mike Eklund 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

Biscuits & Jam

1
Biscuits & Jam Returns on March 4th for Season 6 with The War & Treaty! 1:42

7일 전1:42

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1:42

Join us for the launch of Season 6 of Biscuits & Jam on Tuesday, March 4th, 2025 with The War and Treaty’s Michael and Tanya Trotter. Learn more about your ad choices. Visit podcastchoices.com/adchoices

약 1년 전 24:11

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📬 Download your Free Retire On Purpose Guide here.

📰 See the full show notes here

🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement

***********

Outline of This Episode

[04:32] Considering Roth conversion for potential tax benefits
[09:07] Rules around qualifying for ACA in 2025
[12:36] Early retirement may offer a low-tax window for Roth conversions, potentially reducing the lifetime tax burden
[15:49] Consider long-term planning, not just immediate tax impacts, for decisions like Roth conversions
[18:44] Roth conversions are typically completed at year's end to account for unexpected income changes affecting ACA MAGI estimates.

234 에피소드

#Trading #Business #Financialplanning #Money #Personalfinance #Retirement #MBA #Financial Symmetry #Chad Smith #Mike Eklund #Financialadvisor #Financialplanner #Investing #Saving

Financial Symmetry: Balancing Today with Retirement

The Early Retiree’s Guide to Health Insurance with Grayson Blazek, Ep #229

Financial Symmetry: Balancing Today with Retirement

20 subscribers

published 약 1년 전

MP3•에피소드 홈

***********

📬 Download your Free Retire On Purpose Guide here.

📰 See the full show notes here

🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement

***********

Outline of This Episode

[04:32] Considering Roth conversion for potential tax benefits
[09:07] Rules around qualifying for ACA in 2025
[12:36] Early retirement may offer a low-tax window for Roth conversions, potentially reducing the lifetime tax burden
[15:49] Consider long-term planning, not just immediate tax impacts, for decisions like Roth conversions
[18:44] Roth conversions are typically completed at year's end to account for unexpected income changes affecting ACA MAGI estimates.

234 에피소드

#Trading #Business #Financialplanning #Money #Personalfinance #Retirement #MBA #Financial Symmetry #Chad Smith #Mike Eklund #Financialadvisor #Financialplanner #Investing #Saving

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Financial Symmetry: Balancing Today with Retirement

1
Navigating Your Options as an Eligible Designated Beneficiary, Ep #234 19:59

5일 전19:59

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리스트

19:59

Four categories are recognized under current regulations to qualify as an Eligible Designated Beneficiary (EDB). These include the surviving spouse, minor children of the decedent, a disabled or chronically ill individual as assessed at the time of the decedent's passing, and other individuals who are no more than ten years younger than the deceased account owner. If you fall into one of these categories, you'll be afforded more time and flexibility than Non-Eligible Designated Beneficiaries. This is due to recent regulatory changes, underscored by The Secure Act, altering the landscape of inherited IRAs. Outline of This Episode [00:00] The complexities and benefits of being an eligible designated beneficiary (EDB) for inheriting an IRA. [03:34] Eligible designated beneficiaries have two key advantages: more time and flexibility in inheritance. [08:21] Withdrawing from an IRA before age 59 incurs a 10% penalty and income tax; RMDs depend on age, starting at 73 for most people. [10:10] The stretch IRA avoids a 10% penalty by basing RMDs on life expectancy. [15:46] Timing distributions strategically can reduce tax liability. Wait until retirement to avoid high tax brackets. [18:01] Evaluate options carefully when inheriting an IRA, considering tax implications and future changes. Resources & People Mentioned The Retirement Podcast Network Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh @TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts Stitcher Google Play…

Financial Symmetry: Balancing Today with Retirement

1
Fighting FOMO in Your Portfolio, Ep #233 23:40

28일 전23:40

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23:40

Investing can often feel like riding a rollercoaster of exciting highs and daunting lows. This week, we’re digging into the intricacies of the financial planning process, focusing particularly on the importance of understanding market trends and the role diversification plays in safeguarding your wealth. Outline of This Episode (03:08) Investing with diversification mitigates risk; US stocks average 10% annual returns over the long term but vary yearly. (08:39) US and China stock market gains were largely driven by speculative buying, with US stocks being pricier than international and small stocks. (12:07) Tech stocks are currently overvalued, reminiscent of past market bubbles (15:57) Bonds have a stable 5% return, but cash rates are volatile and are expected to drop to 3.9% this year. (17:37) Despite acknowledging the unpredictability of the future, experts from BlackRock, JPMorgan, Schwab, and Vanguard forecast international markets to outperform US markets over the next decade. (20:01) Diversification guards against risk and helps investors achieve their goals *********** 📰 See the full show notes here 🌐 Sign up here to receive a detailed pre-retirement checklist to assure you are positioned to experience your ideal retirement.…

Financial Symmetry: Balancing Today with Retirement

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The Retirement Complacency Trap, Ep #232 23:07

6 weeks 전23:07

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23:07

Retirement, often portrayed as a glorious era of freedom and relaxation, has its own set of challenges beyond the financial arena. This week, we’re exploring the psychology behind retirement and discussing the four phases retirees go through. Vacation/Honeymoon Phase: The initial euphoria of not having to set an alarm. Loss Phase: Often associated with disenchantment as the honeymoon phase wears off. Trial and Error Phase: Trying out various activities to find what gives life meaning. Reinvent and Rewire Phase: Adding a new sense of purpose and joy from activities outside oneself. The excitement of retirement can last about a year. The dreamy honeymoon phase is great, but when reality sets in, it can be tough. The transition takes time and usually involves emotional highs and lows as retirees grapple with their newfound freedom while trying to preserve their sense of identity, purpose, and routine. *********** 📬 Download your Free Retire On Purpose Guide here . 📰 See the full show notes here 🌐 Sign up here to receive a detailed pre-retirement checklist to assure you are positioned to experience your ideal retirement.…

Financial Symmetry: Balancing Today with Retirement

1
How to Avoid Common Mistakes When Gifting Money to Family, Ep #231 22:03

10 weeks 전22:03

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22:03

As the holiday season approaches, many of us find ourselves thinking about gifts. While gifts can come in many forms, monetary gifts often cause the most confusion. In this episode of Financial Symmetry, hosts Chad Smith and Grayson Blaszak discuss the intricacies of financial gifting. Financial gifting generally involves transferring assets, such as cash or securities, from one individual to another without expecting anything in return. This process can have several benefits, including seeing your loved ones enjoy the fruits of your generosity during your lifetime. *********** 📬 Download your Free Retire On Purpose Guide here . 📰 See the full show notes here 🌐 Sign up here to receive a detailed pre-retirement checklist to assure you are positioned to experience your ideal retirement.…

Financial Symmetry: Balancing Today with Retirement

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Retirement Roadblocks You May Encounter, Ep #230 24:03

12 weeks 전24:03

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24:03

Have you ever been in the middle of a road trip, and you come upon a roadblock where unexpected traffic adds a half hour or more to your journey? Similar frustrating circumstances pop up in the years just before and just after retirement. During this new life transition, you are forced to confront retirement roadblocks, and if you don’t know how to maneuver around them, it can leave you feeling stuck. In this episode, we discuss 3 retirement roadblocks you may encounter along your retirement journey. Think of these tips as your GPS to make it easier to navigate around the retirement roadblocks you will inevitably face. *********** 📬 Download your Free Retire On Purpose Guide here . 📰 See the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement…

Financial Symmetry: Balancing Today with Retirement

1
The Early Retiree’s Guide to Health Insurance with Grayson Blazek, Ep #229 24:11

14 weeks 전24:11

나중에 재생

리스트

24:11

Early retirement has unique financial planning challenges, particularly regarding health insurance and tax strategies. For people who retire before age 65, the challenge of finding affordable and adequate health insurance adds another layer of complexity to their financial plans. *********** 📬 Download your Free Retire On Purpose Guide here . 📰 See the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement *********** Outline of This Episode [04:32] Considering Roth conversion for potential tax benefits [09:07] Rules around qualifying for ACA in 2025 [12:36] Early retirement may offer a low-tax window for Roth conversions, potentially reducing the lifetime tax burden [15:49] Consider long-term planning, not just immediate tax impacts, for decisions like Roth conversions [18:44] Roth conversions are typically completed at year's end to account for unexpected income changes affecting ACA MAGI estimates.…

Financial Symmetry: Balancing Today with Retirement

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Navigating the Updated Inherited IRA Rules with Grayson Blaszek and Matthew Schulman, Ep #228 24:27

16 weeks 전24:27

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리스트

24:27

An inherited IRA is essentially an IRA received by a beneficiary after the original owner passes away. Whether it's a spouse, child, or another loved one, the key characteristic of an inherited IRA is that it transitions ownership upon death. As Grayson Blaszek explains, the funds are transferred intact, but the way you handle and withdraw these funds comes with specific rules and timelines. Grayson and Matthew dig into the new rules in this episode. *********** 📬 Download your Free Retire On Purpose Guide here . 📰 See the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement *********** Outline of This Episode [4:50] Differences between eligible and non-eligible designated beneficiaries [6:16] Why it’s important to list IRA beneficiaries to avoid tax inefficiency [8:19] The year that you inherit an IRA impacts that distribution requirement [10:18] Discussing inheritance can lead to meaningful conversations that make financial planning easier [14:17] You need to continue taking the required minimum distribution (RMD) if the decedent began them already [16:00] How to handle a 10-year account withdrawal strategy [22:07] Key takeaways about your withdrawal options with the new rules as a non-eligible designated beneficiary…

Financial Symmetry: Balancing Today with Retirement

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Are You Living This Retirement Horror Story? Ep #227 18:20

18 weeks 전18:20

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18:20

Investing can feel like a battle between two polar opposites within us, the rational and the emotional, just like the classic story of Dr. Jekyll and Mr. Hyde. This week, Dr. Jekyll and Mr. Hyde are our model investors, and we’re talking you through the spooky story of the risks, emotions, and rational strategies involved in long-term investing. **** 📬 Download your Free Retire On Purpose Guide here . 📰 See the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement **** Outline of This Episode [03:06] Dr. Jekyll and Mr Hyde's wildly different investment strategies [06:00]Strategies that help mitigate emotional reactions during elections and global crises [07:38] Balancing short-term market volatility with a long-term investment perspective [10:37] How to stay aligned with long-term goals in the face of market downturns [13:28] Diversification to manage risk in an investment portfolio [14:17] Psychological factors that cause investors to feel more confident during market upswings [15:35] Automating your investment and savings strategy to prevent emotional decision-making…

Financial Symmetry: Balancing Today with Retirement

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The Evolution of your Emergency Fund, Ep #226 21:47

21 weeks 전21:47

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21:47

Reaching your financial goals builds confidence and peace of mind, which are essential for making informed decisions that benefit your entire family. In this episode, we’re following a fictional pop culture couple from newlywed to pre-retirement, to demonstrate how their thought process around an emergency fund could evolve with their changing circumstances. Join us as we lay out a case study of planning that helps them balance their accessible wealth with a healthy emergency fund. **** 📬 Download your Free Retire On Purpose Guide here . 📰 See the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement…

Financial Symmetry: Balancing Today with Retirement

1
How to Avoid Common Pitfalls in Your Retirement Withdrawal Strategy, Ep #225 28:50

23 weeks 전28:50

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리스트

28:50

Retirement, a phase many of us anticipate for a long time, comes with its own set of financial intricacies. Specifically, how do you effectively withdraw funds from your savings to ensure a comfortable, sustainable, and tax-efficient lifestyle? A well-crafted retirement blueprint is essential . This plan should outline your long-term goals and the steps needed to achieve them. More importantly, your financial plan should be flexible enough to accommodate life's unexpected expenses, such as healthcare costs or home repairs. Revisiting and updating your blueprint annually—or when significant life changes occur—can help ensure you stay on track. In this episode, we’re sharing the essential steps to develop a retirement withdrawal plan that caters to your needs. We dig into which accounts to draw from, how to minimize taxes, and how to manage unexpected expenses. You'll also learn about advanced strategies like Roth conversions, tax-loss harvesting, and the benefits of Qualified Charitable Distributions and Donor-Advised Funds. *********** 📬 Download your Free Retire On Purpose Guide here . 📰 See the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement *********** Outline of This Episode [5:06] Your options for retirement tax strategies [8:32] Utilize early years to make strategic financial moves [11:30] Plan your retirement for peace of mind [17:12] Lower RMDs with Roth conversions and reduce the tax impact [19:42] Consider tax loss harvesting, capital gains, heirs' basis [21:30] Use a QCD to reduce taxable income [26:12] Exploring blind spots in retirement withdrawal strategies…

Financial Symmetry: Balancing Today with Retirement

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The Financial Benefits and Drawbacks of Working During Retirement, Ep #224 21:07

25 weeks 전21:07

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리스트

21:07

Retirement planning is a delicate process, and you need to carefully consider your various income streams, including Social Security benefits. For those of us who plan to continue working while claiming Social Security, it’s important to understand how this decision can impact the monthly benefits you receive. In this episode, we’re sharing how to avoid financial shocks in retirement. We discuss the essentials of earned income, the reduction in benefits due to excess earnings, and specific scenarios such as spousal and ex-spouse benefits. **** 📬 Download your Free Retire On Purpose Guide here . 📰 See the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement Outline of This Episode [1:08] Social Security benefits may be impacted if you work while claiming [04:27] How retirement financial planning strategies vary by individual circumstances [07:17] Earnings affect Social Security benefits before retirement [11:51] Your spouse's income doesn't affect your Social Security [15:18] SSA withholds payments until excess income is accounted for [18:44] Social Security timing advice [20:04] Seek financial advisor help to make an educated decision about retirement…

Financial Symmetry: Balancing Today with Retirement

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Risks to Your Ideal Retirement, Ep #223 29:41

27 weeks 전29:41

나중에 재생

리스트

29:41

We all have visions of our ideal retirement. However, our financial plans can quickly veer off course if we haven't appropriately managed our risks. On this episode of Financial Symmetry, Greg Suggs from Greg Suggs Insurance joins me to discuss how to manage common risks that could negatively affect your wealth. You won’t want to miss out on these easy-to-implement pieces to your insurance puzzle that could save your assets. **** 📬 Download your Free Retire On Purpose Guide here . 📰 See the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement Outline of This Episode [1:23] A bit about Greg [2:09] Biggest changes in insurance over the past 30 years [5:12] The biggest risks for homeowners [11:11] Common mistakes homeowners make [14:33] What to think about if you are considering a second home [17:21] What to consider if you own a rental property [19:00] Automobile insurance for young drivers [23:22] What about insurance for gig work? [25:37] How to lower your insurance needs…

Financial Symmetry: Balancing Today with Retirement

1
How to Pay for College in 3 Phases, Ep #222 25:45

29 weeks 전25:45

나중에 재생

리스트

25:45

How do you begin to save for your children to go to college? With the rising costs of college education, is it worth the monetary commitment? Including tuition & fees, room & board, books & supplies, etc. the average cost of college is anywhere from $27,000 for an in-state public school up to $80,000–$90,000 a year for an Ivy League School. How you pay for your student’s college is one of the most important financial decisions you’ll ever make. In this episode, we cover the three phases of saving for college and what you need to pay attention to in each phase. **** 📬 Download your Free Retire On Purpose Guide here . 📰 See the full show notes here 🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement Outline of This Episode [1:53] Why college? Is it necessary? [2:41] Average cost of college [4:42] Phase #1: The Saving Phase [10:02] Phase #2: Preparing for college [20:44] Phase #3: In-college strategies [22:57] Summarizing the big points…

Financial Symmetry: Balancing Today with Retirement

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Wild Retirement Problems, Ep #221 29:38

31 weeks 전29:38

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리스트

29:38

Some problems are easily solved with a bit of reasoning, logic, or by using a bit of math. Other problems go beyond quantitative thinking. The most thought-provoking issues aren’t numbers-based. Many decisions surrounding retirement require much deeper consideration and often cause you to reevaluate your thinking of what you had originally imagined retirement to be. In this episode, you’ll learn how to identify “wild problems” people face when retiring and develop a framework for working through them. Resources & People Mentioned Show Notes The Retirement Podcast Network BOOK - Wild Problems by Russ Roberts BOOK - The New Retirementality by Mitch Anthony BOOK - Thinking Fast and Slow by Daniel Kahneman…

Financial Symmetry: Balancing Today with Retirement

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How Bobby Bonilla Day Can Help You Decide Whether to Take a Pension or a Lump Sum, Ep #220 21:43

33 weeks 전21:43

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리스트

21:43

One of the retirement questions that persists through the ages is whether to take a pension or a lump sum payment. On this episode, we flesh out an example from baseball: Did Bobby Bonilla Day make the right decision back in 1999 to take $1.2 million per year instead of a $5.9 million lump sum payment? Seeing this example play out over time can help you make your own pension vs. lump sum choice. Listen to find out whether Bobby hit a home run with his financial decision. ___________________ Show Notes The Retirement Podcast Network…