In this episode, a continuation of The Clueless Retiree Part I, Mark and Evan Fricks tackle the thorny issues of tax misconceptions and legislative changes that could leave you adrift in a sea of confusion without a solid plan. The Secure Act 1 and 2 are dissected, revealing their hidden impact on retirement strategies and why Roth conversions might just be your lifeline. We delve deep into the importance of strategic planning in hopes of steering clear of unexpected tax burdens and the dreaded surge in Medicare Part B premiums and then anchor down on the daunting healthcare costs that loom over the retired horizon. Take the helm with us, and let's set sail toward a future where your golden years glisten with well-earned peace of mind.

In this episode, Mark and Evan Fricks zero in on the hazards that lurk for the clueless retiree when inflation and taxes are left out of the equation. They discuss the importance of a realistic lifespan estimate and the often missed step of strategic income planning. Listen to tips on 401(k) rollovers, loans, and the savvy moves to mitigate tax hits. Don't let common estate planning oversights, like hasty property transfers that could cost your heirs dearly, be a part of your financial plan. Tune in to fortify your future against common retirement faux pas and arm yourself with the knowledge to outsmart the pitfalls that may trip up the clueless retiree.

Many financial decisions that should be approached rationally are unfortunately made from a place of emotion. In this video, we discuss common fears for retirees and attempt to shed some light on these fears as well as provide potential solutions so that you may find your way to peace of mind.

Navigating the maze of Required Minimum Distributions just got easier thanks to our latest Retirement Roadmap episode. Evan and Mark Fricks are here to guide you through the recent updates to RMDs, now kicking in at 73 or 75 for those born in 1960 or later. Understand the necessity behind these withdrawals, the importance of hitting deadlines, and the tax implications of not managing your distributions effectively. Discover strategies aimed at weaving RMDs into a retirement plan that's not just about surviving but thriving.

Ever thought on how a well-structured plan can be the cornerstone of maintaining family harmony after you're gone? Join Mark and Evan Fricks of MasterPlan Retirement Consultants as they navigate the often-overlooked terrain of legacy and estate planning. This episode isn't just about numbers and legalities; it's a heartfelt look at how thoughtful preparation can be a gift that eases the burden on loved ones during trying times. We share personal stories and advice on why updating your will and healthcare directives is more than just a box to tick—it's a vital step in protecting your family's future, and ensuring your final wishes are met with the respect they deserve.

In this episode, Mark and Evan Fricks demystify the role of precious metals, like gold, as a bastion against economic storms. We delve into the heart of why gold shines amidst market turbulence, drawing from its historical safe-haven status and recent price surges. This episode is a treasure trove of knowledge for anyone eager to fortify their retirement portfolio with a time-tested asset.

Ever wondered how to shield your hard-earned legacy from the grip of tax burdens that potentially await your heirs? That's what Mark and Evan Fricks will unpack in this episode of Retirement Roadmap. We'll touch on strategies that may help your heirs navigate their inheritance with financial savvy and share stories that illustrate the potentially dire consequences of poor legacy planning. With the likelihood of looming changes to estate tax exemptions on the horizon, let's chart a course together that will may help you steer clear of the pitfalls that could endanger your financial legacy.

Instead of simply reporting your taxes, join us as we navigate how to plan your taxes, especially for your retirement, with the guidance of Mark and Evan Fricks. In this episode, we'll tackle the tough topics, from the impact of inflation to the nuances of required minimum distributions and the taxation of Social Security benefits. We believe a proactive financial plan is not just a good idea—it's an essential tool to help avoid the pitfalls that could diminish the retirement lifestyle you've worked so hard to achieve. As our country is amid political gridlock, the clock is ticking on strategic tax opportunities before the expiration of the 2017 Tax Cuts and Jobs Act. 

We like to think of ourselves as rational people, but often our actions can prove the opposite. Even with training, education, and experience, investors still make decisions that can go against their best interests. We may not be able to eliminate our emotional response to our personal finances and investing but we can be aware that these responses exist in all of us, recognize them, and make informed decisions based on our understanding. Today we discuss behavioral finance and how it affects our approach to investing and retirement prep. 

When it comes to retirement, the thought of an income gap can be daunting. In this episode, Mark and Evan Fricks of MasterPlan Retirement Consultants provide valuable insights to help you understand what a retirement income gap is and introducing you to investment tools that may better equip your plan for a stress-free retirement. MASTERPLAN RETIREMENT CONSULTANTS

How do you know when you are ready to retire? In this episode, we discuss many facets to consider as you prepare for your next stage of life.

With the beginning of 2024, we engage the onset of another presidential election year in the United States, and in this episode, Mark and Evan Fricks discuss how this unique season typically impacts the market and our client's investments according to historical data.  Have a topic or question you'd like Mark and Evan to address in a future episode? Email us at info@masterplanretire.com or call 770-980-9262. Sign up for one of our upcoming events at https://www.masterplanyourretirement.com/events Purchase Mark's Book, The Road Less Traveled: Turning Your Retirement Worries Into an Excursion of a Lifetime on Amazon.com https://a.co/d/4fx94Al Advisory services offered through MasterPlan Retirement Consultants, Inc., a Registered Investment Advisor in the state of Georgia. Insurance, tax and commodities services offered through Fricks and Associates, Inc. dba MasterPlan Retirement Consultants.  The aforementioned are affiliated companies.

In this video, we discuss a handful of major points in our pre-retirement checklist to consider as you prepare for your own retirement. Visit us online at https://masterplanretire.com/ Catch all episodes of our podcast at https://www.masterplanyourretirement.com/resources/podcast Listen to Mark Fricks on Saturdays at 8:30 a.m. EST on AM920 WGKA Purchase Mark's Book, The Road Less Traveled: Turning Your Retirement Worries Into an Excursion of a Lifetime on Amazon.com https://a.co/d/4fx94Al Advisory services offered through MasterPlan Retirement Consultants, Inc., a Registered Investment Advisor in the state of Georgia. Insurance, tax and commodities services offered through Fricks and Associates, Inc. dba MasterPlan Retirement Consultants.  The aforementioned are affiliated companies.

Many Americans’ largest asset is their 401(k), 403(b), traditional or Roth IRA but few know the details, rules, and intricacies of their accounts. When it comes to withdrawals from these accounts, you want to make sure you’re aware of applicable tax and plan-specific rules. In today’s episode, Mark and Evan Fricks will discuss some of these rules while also sharing some tips on how account holders could save money when making withdrawals. 

What's your retirement risk number? What is a risk number? Join Mark and Evan Fricks as they discuss risk numbers and how they can be used to tailor your financial retirement plan.

The new year is upon us and many are setting some resolutions and at the top of that resolution list should be a reevaluation of your current retirement plan. Time to look and see how the investments are performing, setting new goals to accomplish in the short and long term, and seeing whether your retirement fund is on target for retirement.