Retirement Starts Today Radio

Bret and I recently reviewed all of our clients’ estate plans this spring and, as a result, we have so much to share with you about what we learned. It was so much that we had to break it into multiple episodes! If you are curious about how this sort of meeting goes and wish that you could be a fly on the wall, you won’t want to miss this episode.  Today we’ll discuss why you need to ask yourself what could go wrong, why it’s so important to consider where your documents are located, why you may want to consider having your medical power of attorney or living will a digital document, and how an executor is a mini dictator.  Everyone needs an estate plan. Listen in to hear what you need to consider when you create or update yours. Outline of This Episode [2:02] Having your estate planning docs in order can help you sleep better [4:14] Don’t create complexity by trying to keep things simple [9:17] Where are your documents located? [12:38] How can your kids prove to a hospital that they can make medical decisio

Do you ever get together with your friends from high school and wonder why they all look so old? Are you surprised by the image that you see in the mirror each morning? If so, you’re not alone.  In today’s retirement headline segment, we’ll explore an article from Jennifer Senior at MSN.com that examines the abstract concept of feeling a different age in your head than you physically are in years.  Related to the retirement headline, today’s listener question is about how to understand when you are mentally ready to retire. Learn how important purpose is in your decision to retire. Outline of This Episode [1:02] Subjective age is feeling a different age in your head [6:37] What can this teach us about retirement? [8:50] Understanding the mental aspect of deciding when to retire Resources & People Mentioned The Puzzling Gap Between How Old You Are and How Old You Think You Are Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https

Have you made any changes to your retirement savings due to the poor economy? If you did, you’re not alone.  According to a Financial-Planning.com article, half of America stopped saving for retirement last year. Don’t miss hearing why this is such a bad idea. Stick around for the listener questions segment where Bret and I address one listener’s worry about the upcoming changes to the tax code. Retirement Starts Today is the podcast where you learn how you can spend more money, pay fewer taxes, and live a better life. Outline of This Episode [1:42] 50% of Americans stopped saving last year [6:10] My thoughts [8:46] How prepared should I be for the sunset on tax laws in 2026 Resources & People Mentioned Half of America stopped saving for retirement last year amid soaring inflation The Retirement Tax Podcast Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementsta

You may be excited to jump on the early retirement bandwagon, but before you do, listen to this episode. In our retirement headlines segment, we explore a peer-reviewed article that shows that early retirement can accelerate cognitive decline.  Stay tuned for the listener questions segment to hear how to reimagine your retirement spending mindset by creating a flexible spending plan.  Retirement Starts Today Radio is a way to learn about having more income, paying fewer taxes, and creating an even better retirement, so if that sounds like the life you’re trying to create, press play now.  Outline of This Episode [1:22] Cognitive decline can increase in retirement [3:50] My takeaways from the article [6:52] How can I convince my partner to spend more money in retirement? Resources & People Mentioned Research shows that early retirement can accelerate cognitive decline Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitt

Many DIY investors would like to learn more about the latest changes in financial and tax laws but don’t have the same opportunities to attend professional financial conferences. The good news is that Bret and I do have these opportunities, and we relish sharing our findings.  On this episode of Retirement Starts Today, Bret shares his insights from his boots-on-the-ground experience at Ed Slott’s recent conference in Las Vegas. If you are curious about the changes surrounding IRAs and other retirement accounts as a result of the Secure Act 2.0, you won’t want to miss Bret’s distillation.  Outline of This Episode [3:22] Private letter rulings are very expensive [6:23] Tax laws are getting more complicated [11:52] Main themes of the conference [17:30] Don’t squander your biggest advantage in retirement Resources & People Mentioned Ed Slott Devin Carroll on YouTube Social Security Intelligence Episode 279 - Secure Act 2.0 Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstar

Have you ever used a Monte Carlo analysis to help you plan retirement? If so, the results can seem scary. You may be looking for a 100% likelihood of success so that you can rest easy–after all, you are probably hoping for a 100% successful retirement. However, in this episode of Retirement Starts Today, you’ll learn why a 100% success rate should not be your goal. Listen in to hear why. Outline of This Episode [1:42] Retirement plan uncertainties [8:00] Don’t shoot for 100% success with a Monte Carlo analysis [10:25] How to figure out the cost basis Resources & People Mentioned Monte Carlo Failures Aren’t Plane Crashes Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podb

We talk about retirement income guardrails a lot on this show, but today we’ll go into greater depth while exploring an article from Kitces.com. This article was written by a mentor of mine and takes an advisor’s perspective on how to discuss spending increases and decreases with clients. These are fantastic conversations to review if you have been implementing or thinking about using the guardrails strategy in your retirement plan. Grab a pen and paper and take some notes to reflect as you listen so that you can keep them handy and run them through your own filter.  Stick around until the end to hear from a listener who is unhappy with their advisor, yet concerned about the tax implications of switching to a new one. Outline of This Episode [2:22] What are guardrails? [10:20] How to have the spending reduction conversation [15:30] What to do if you are unhappy with your financial advisor Resources & People Mentioned Implementing Retirement Income Guardrails to Facilitate Spending Raises and Cuts Dynam

Do you want to know how you can fully utilize your biggest advantage over the IRS? Listen to this episode to find out.  Today, we explore a ThinkAdvisor.com article that turns traditional retirement tax thinking on its head. Then, Bret helps me answer a listener's question about opening a Roth IRA when your salary is too high. Bret has a great tip that you may not have thought of before. Finally, you’ll hear from Mike in Tuscon who is engaging in his love of music in retirement. Don’t miss out on this episode to hear how you can plan to improve your retirement. Outline of This Episode [1:22] Delaying taxes in retirement isn’t always the best [5:10] My thoughts [7:42] What about opening a Roth IRA and only making Roth conversions [12:45] How Mike is investing in himself Resources & People Mentioned Delaying Taxes in Retirement Isn’t Always Best, Award-Winning Paper Shows Personal Capital Betterment Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow

Do you have an HSA? If so, do you simply use it to pay for your medical expenses? Or do you use it as a way to build your wealth? Today we’ll look at an article from Financial Advisor Magazine that will help us identify opportunities for wealth creation. Listen in to learn how to maximize the triple benefit of the humble HSA. Outline of This Episode [1:22] A few tricks to turn the humble HSA into a wealth builder [12:30] What is the Pension Benefit Guarantee Corporation? Resources & People Mentioned Article - A Few Simple Tricks Turn Humble HSAs into Wealth Builders PBGC.gov Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Do you combine your finances with your partner? If you do, chances are that you might be happier. In this episode of Retirement Starts Today, we’ll explore a WSJ article written by Julia Carpenter titled Couples Who Combine Finances Are Happier. So Why Don’t More Do It? In addition to examining the benefits of combining finances, we’ll take a look at the reasons couples choose not to pool their resources. Finally, I’ll share my thoughts on why merging with your spouse's finances could be a boon to your retirement.  Make sure to stick around for the listener question segment. Bret and I discuss whether it is worth self-funding long-term care rather than purchasing long-term care insurance. Listen in to hear discover whether you’re surprised by our response. Outline of This Episode [1:22] Couples who pool their finances are happier [6:30] Do we recommend self-funding long-term care insurance? Resources & People Mentioned WSJ article - Couples Who Combine Finances Are Happier. So Why Don’t More Do It? Co

Giving advice to your parents can be a challenge both for you and for them. However, there comes a time when the roles reverse and our parents may need to hear our practical advice. If you have been wondering how to go about doing this you’re not alone.  This week we’ll explore a retirement headline from Francine Russo at WSJ titled How to Give Your Parents Advice That They Will Actually Listen To. And to continue with the parent-child relationship theme we’ll answer a listener question about moving to be near the kids and grandkids in retirement. Don’t miss out on this helpful episode. Press play now.  Outline of This Episode [1:12] How to give your parents advice [6:32] On moving to be closer to adult children and grandchildren Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.Ret

Investing in yourself is a great way to invest in your retirement. You may know Fritz Gilbert from the Retirement Manifesto blog or you may even have read his book, Keys to a Successful Retirement. What you may not know is how he has invested in himself in retirement.  On this episode of Retirement Starts Today, you’ll hear how Fritz has chosen to invest in his community and himself through a charity that his wife started. Listen in to hear how Fritz's life took off in unexpected directions because he chose to follow his curiosity.  Outline of This Episode [2:22] How Fritz's life has changed in retirement  [5:30] Getting engaged in a charity is a great transition [10:23] How he has invested in his physical health Resources & People Mentioned BOOK - Younger Next Year by Chris Crowley PODCAST - Can Carl Retire? See The Retirement Planning Process In Action FI Chautauqua Ecuador Episode 146 - The Hidden Chances of Retirement with Fritz Gilbert Connect with Fritz Gilbert Freedom for Fido The Retirement M

Do you typically like to get your taxes done early? Before you rush out to submit your tax return, listen to this episode to hear why you might want to wait. In this episode, we’ll explore a CNBC article by Kate Dore that lists the reasons you may want to wait to file your taxes in 2023. After the Retirement Headlines segment, Bret and I will discuss the differences between bonds and bond funds to see if we can answer which one is better. Finally, in the Personal Development section, Scott from Houston will let us know what he has been doing to improve his life and health in retirement. This episode is packed full of helpful, informative ideas that you can use to improve your life in retirement. Press play now to listen. Outline of This Episode [1:22] Early filers should wait to submit their tax returns [6:00] Which are better: bonds or bond funds? [12:52] Scott is reassessing the practices and habits of his everyday life Resources & People Mentioned BOOK - Raise Your Healthy Deserve Level by Gary Kadi

I’m so excited to bring you this interview with Gary Kadi. Gary is the author of one of the best books I read in 2022, Raise Your Healthy Deserve Level. I call this an accidental retirement book because although it is not specifically written for retirees, many topics apply to retirement.  Gary has so much to share in this interview. We discuss how to receive good things in life, how your net worth is directly proportional to your self-worth, why you shouldn’t reject good things, why only 5% of people retire with financial freedom, and how to find fulfillment in retirement. This was a fantastic interview and I know you’ll enjoy hearing from Gary Kadi. Press play to hear what he has to say.  Outline of This Episode [2:12] In life you don’t get what you deserve, you get what you think you deserve [6:20] Tips to work on yourself that can spill over into your finances [8:50] Retirement is an inside job [13:00] What do you do to find fulfillment in retirement [19:49] Accept yourself for who you are Resources &am

Many people are concerned that rising interest rates will eventually crash the housing market. Future retirees can become overly worried about the housing market since the value of their homes plays a huge role in their retirement plans. This is why an article from Annie Lowrey at the Atlantic caught my eye. Today, we’ll dive into the article, The U.S. Needs More Housing Than Almost Anyone Can Imagine, and prognosticate the future of the housing market.  Outline of This Episode [1:32] Addressing housing affordability concerns [7:50] What to look for in a tax preparer [14:50] What Jim did to improve his retirement Resources & People Mentioned Atlantic article: The U.S. Needs More Housing Than Almost Anyone Can Imagine Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Subscribe to Retirement Starts Today on Apple Podcast

Have you ever thought about what the future might be like for your children and grandchildren? In this week’s retirement headline, we’ll explore a Wall Street Journal article called What Old Age Might Be Like for Today’s 30-Year-Olds.  During the listener questions segment, one listener wonders whether it is possible to have too much Roth money. Finally, stay tuned for the personal development segment where we learn what Jerry is doing to find purpose and stay active in retirement.  Outline of This Episode [1:22] What old age might look like for today’s 30-year-olds [7:38] My thoughts [9:12] Is it possible to have too much Roth money? [13:57] Jerry’s investments in himself in retirement Resources & People Mentioned What Old Age Might Be Like for Today’s 30-Year-Olds BOOK - Raise Your Healthy Deserve Level by Gary Kadi The Retirement Manifesto Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Subscr

Welcome back to Retirement Starts Today Radio! Today we have an extra special episode for two reasons.  Today, you’ll finally meet our newest advisor, Bret Mulvaney. He joins me today to discuss the most recent legislation regarding tax and retirement planning.  This entire episode is dedicated to reviewing the Secure Act 2.0. Listen in to learn what’s changing in retirement planning and how the Secure Act 2.0 will change your retirement tax situation. Outline of This Episode [2:12] The age for RMDs is changing [7:58] Qualified Charitable Distributions have not changed [10:35] Roth 401k or 403b no longer needed RMD [12:00] An update to 529 plans [16:58] Key takeaways Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spoti

Do you ever wish you could sneak a peek into someone else’s retirement financial plan? Our retirement headline this week does just that. The article, Some Now More Later, takes a look into Richard Connor’s decision-making process as he examines how best to allocate his retirement funds and how he and his wife decided how to claim their Social Security benefits. After the retirement headlines segment, we’ll discuss the best way to rebalance a portfolio in retirement. And lastly, in the personal development segment, you’ll hear our first audio submission from Linda on how she made an investment in herself by committing to learning a foreign language in retirement. Don’t miss out on this informative episode! Outline of This Episode [1:52] Deciding how to claim Social Security with multiple sources of income [9:32] Connor and Vicky’s retirement income plan [17:18] A rebalancing question [23:20] Linda has started to learn Spanish in retirement Resources & People Mentioned Retirement Income University Some N

Welcome back to a new year or Retirement Starts Today Radio! Just as you have been envisioning your retirement, I’ve been envisioning exciting new things for this podcast.  This year we are kicking off a couple of new additions to the show that I’m particularly excited about. After the retirement headlines, we’ll have our new Lead Financial Advisor, Bret, join us as an occasional co-host for the listener questions segment. In addition to our original segments, you’ll hear from listeners like yourself in our new personal development segment.  On this episode, you’ll hear the latest news on the Social Security front, I’ll answer a question about the best investment options for mid-term investments in a retirement portfolio, and one listener, Frank, will describe how he is investing in his health to improve his retirement. Make sure to stick around until the end to hear the latest addition to your second favorite retirement podcast! Outline of This Episode [2:12] The number of American retirees is outpacing the

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