Description: We 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 provisions • Reconsidering retirement timing based on current financial position • Exploring phased retirement options for financial and emotional benefits • Preparing psychologically for the transition to retirement • Working with a holistic retirement planner to coordinate all aspects Visit masterplanretire.com to schedule a complimentary consultation or call 770-980-9262 to start creating your comprehensive retirement roadmap.

We 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 • Paying down high-interest debt before retirement while strategically managing low-interest obligations • Implementing tax planning strategies like Roth conversions to help to minimize taxation in retirement • Creating "buckets" of money specifically designed for retirement income rather than growth • Consulting with a retirement planning professional to coordinate all aspects of your retirement strategy

In this episode, Mark and Evan Fricks discuss the critical decade before retirement, revealing strategies that may work to beef up savings, slash debts, and pivot investment tactics. If you're in your early 50s, it's high time to fine-tune your financial engine with your partner and contemplate life's big moves, such as downsizing or planting new roots. This episode is your roadmap to align your retirement dreams with concrete, actionable plans. Picture your life post-career—do you see a horizon filled with purpose and vitality? Transitioning from the daily grind to retirement's open-ended landscape can be more than just a monetary shift; it's a journey to rediscover your zest for life while keeping your finances and health in tip-top shape. Embrace the insights shared on the importance of maintaining social connections, considering part-time work, and the art of crafting a flexible, robust financial plan that can withstand the unexpected. We're here to guide you through this complex terrain. We discuss the often healthcare-intensive third decade of retirement. We address the necessities of home modifications, the vigilance required for estate planning, and strategies to counter the stealthy creep of healthcare inflation. With regular legal check-ups and a dynamic, comprehensive approach, your retirement plan can gracefully adapt and flourish. Tune in for an enlightening discussion that evolves with you—through every phase of retirement.

This 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 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 retirement planning ____

ATLANTA - Retirement 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 introspection to collective adventure, we dive into the remarkable experiences of a couple who chose to spend their retirement summers volunteering at national parks through volunteer.gov. From the trails of San Juan Island to the towering redwoods of California, their stories illuminate the transformative power of shared experiences and environmental stewardship. Our exploration of Redwood National Park further underscores its global appeal and the vital role of conservation. Join us as we celebrate adventures that await in retirement.

This 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 rules

The 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 strategies

Federal 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 your federal benefits include? Contact us to discuss your options.

ATLANTA - 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 plans

When'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 planners

This 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 information with the Social Security Administration • Discussion on the financial sustainability of Social Security

You 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 Don’t Want.

As we prepare for another year, it's a great time to revisit or reset our personal goals, including financial goals. In this episode, we discuss how MasterPlan guides our clients through approaching their own financial goals for retirement or preparation for retirement. 

Could 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.

Join 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 civilian life, and the uplifting outcomes of programs like Veterans Court in Marietta, Georgia. Our conversation offers insights into recognizing the diverse roles veterans play in our communities, the power of embracing them, and actionable advice for supporting those who've served.

Prepare 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.

What if a 50 basis point interest rate cut could significantly alter your financial future? Join us as we unpack the Federal Reserve's recent decision and its far-reaching implications with insights from Investment Advisor Representatives, Mark and Evan Fricks. From the subtle shifts in credit card interest rates to the more pronounced effects on auto loans and HELOCs, we break down how these changes might impact your everyday financial decisions. Our discussion extends to the broader economic landscape, examining the Fed's strategy to manage inflation without tipping the economy into recession. Discover how continued rate decreases could lead to substantial long-term savings and why it's crucial to stay informed. These interest rate adjustments ripple through retirement planning and investment strategies, and Mark and Evan Fricks are here to help you navigate the shifts.

Today, we discuss ideas and considerations in preparation for retirement at key points in your countdown- 10 years away, 5 years away, and one year from retirement. 

Have you thought about what you will do with your 401(k) once you retire? In this episode of Retirement Roadmap, Evan and Mark Fricks unravel the complexities surrounding 401(k) and IRA options as retirement beckons. We dissect the advantages and limitations of maintaining a 401(k), from enticing company matches to frustrating investment constraints, and uncover the expansive opportunities IRAs can present, including investing in precious metals and real estate. With insightful discussions on converting traditional IRAs to Roth IRAs for potential tax-free benefits, this episode is packed with strategies that may refine your retirement savings approach for enduring financial health.

Ever wondered how to keep your retirement savings intact during the unpredictability of an election year? In this episode, Mark and Evan Fricks guide you through the minefield of market volatility triggered by election cycles and share strategies that can help maintain a steady, long-term investment approach. They caution against knee-jerk reactions to media hype and market jitters, which can lead to detrimental portfolio moves, and advocate for a balanced retirement roadmap that leverages both growth and income strategies, utilizing modern tools like computer algorithms and AI to enhance your decision-making process.

 In this episode of Retirement Roadmap with Mark and Evan Fricks we look at what U.S. News and World Report lists as The 10 Biggest Regrets of Retirees. We share from our experiences in financial services how these common regrets can impact your retirement roadmap. 

Is December 31st or April 15th the most critical tax deadline for retirees? This episode of Retirement Roadmap explores this provocative question, guiding you through important end-of-year tax strategies. We'll uncover the nuances of Required Minimum Distributions (RMDs) and how the Secure Act and Secure Act 2.0 have shifted the landscape, potentially impacting your tax bracket, Social Security, and Medicare premiums. By connecting tax strategies, Roth conversions, and legislative changes, we help you navigate the complex web of retirement planning.

Ever wondered how working before and after full retirement age affects your Social Security benefits? Curious about alternatives to traditional insurance? What about what it means to take a lump sum pension versus a monthly pension? Join us as we answer several questions that may better equip you to navigate the complexities of retirement income and maximize your financial security.

What if you could retire a decade earlier than you ever thought possible? On this episode of Retirement Roadmap with MasterPlan Retirement Consultants, we reveal powerful early retirement strategies that could transform your financial future. Hear examples that could help pave your way to financial freedom. Discover how you can maximize your income through hobbies, part-time work, additional education, and creating multiple income streams like rental properties or guaranteed income tools. Plus, we share effective budgeting tools and mindful spending habits to keep you on the path to early retirement.

Ready to unlock the secrets to early retirement and financial freedom? Drawing on insights from Jacob Schroeder's article in Kiplinger Magazine, How to Retire Early in Six Steps, we emphasize the importance of ongoing education and adapting to ever-changing regulations. You'll learn why setting a high savings rate of 10-15% is crucial and how some of these budgeting and spending tips may help you navigate your own retirement journey.

Today we discuss the retirement savings vehicle of the federal employee: the Thrift Savings Plan. What is it? How does it work for the retiree versus other retirement plans? Are there tax advantages? Find out all this and much more on today's show!

What's a FERS Pension? FERS is a retirement plan that provides benefits from three different sources: aBasic Benefit Plan, Social Security and the Thrift Savings Plan (TSP). Two of the three parts of FERS (Social Security and the TSP) can go with you to your next job if you leave the Federal Government before retirement. The Basic Benefit and Social Security parts of FERS require you to pay your share each pay period. Your agency withholds the cost of the Basic Benefit and Social Security from your pay as payroll deductions. Your agency pays its part too. Then, after you retire, you receive annuity payments each month for the rest of your life. Join us as we discuss part one of our federal employee retirement benefits overview, the FERS pension.

What if your wealth could grow and stand the test of time? This episode reveals the secrets that wealthy individuals use to maintain and expand their fortune. We dissect a fascinating Business Insider article and share five pivotal strategies, including the significance of a comprehensive financial plan encompassing budgeting, insurance, legacy planning, tax planning, and investments. Plus, we highlight why finding the right financial professional and sticking to a hands-off investment approach can make all the difference.

Can you afford to ignore the future of tax policies on your retirement plans? Join us on Retirement Roadmap as we explore the critical uncertainties surrounding the expiration of the Tax Cuts and Jobs Act of 2017, set for December 31, 2025. Our conversation dives into the potential implications for personal income taxes, estate taxes, and the broader financial landscape shaped by government spending, national debt, and federal inefficiencies. Listen in to discover how these legislative changes could impact your financial planning.

Discover the essential keys to safeguarding your legacy with Sarah White, an esteemed estate planning attorney with over two decades of expertise. Sarah demystifies the critical components of estate planning, from wills and powers of attorney to healthcare directives. Highlighting unique considerations for Georgia residents, Sarah delves into the pros and cons of revocable living trusts versus standard wills, revealing the intricacies of probate and the strategic advantages of trusts. Misconceptions abound when it comes to estate planning, but Sarah sets the record straight, emphasizing the accessibility and necessity of professionally guided documents. Explore new provisions for digital assets in Georgia and understand how digital legacies fit into your overall plan. This episode underscores the value of holistic retirement planning, stressing the importance of collaboration among financial planners, tax advisors, and estate attorneys that will enable you to leave no stone unturned in your retirement and estate planning journey.

Today we have a special episode - we look at MasterPlan Retirement's approach to retirement planning and the phases we take our clients through in developing their personal retirement plan; how a retirement plan is created and how it travels with you through 30+ years of retirement.

Can a community truly transform the lives of its veterans? Join us as we uncover the inspiring journey of our client, Dan Hydrick, an Army veteran who dedicates much of his time to helping his fellow servicemen and women through the Cobb County Veterans Treatment and Accountability Court and Bravo Victor Fund. Dan shares his remarkable transition from military service to relentless community service, showing how the VATC and Bravo Victor Fund provide essential resources like housing, transportation, and furniture to veterans in Cobb County, GA.  Discover the power and impact of the "battle buddies" program, where veterans guide each other through challenging times, ensuring no one gets left behind, as well as the "vet pod, "a collaborative effort that provides incarcerated veterans with safer environments and better access to legal and VA services. Listen to the stories behind the community's role in these initiatives, from the Veterans Court to the We Care Fair, and learn about the incredible contributions of organizations like United Military Care. 

In this episode, Mark and Evan Fricks illuminate the critical importance of up-to-date estate plans and guide you through the process of asset transition with compassion and clarity. We touch on how our clients use their Professional Record Organizer (PRO), an organization tool that helps your heirs have the essential information they need to honor your wishes and protect your life's work. We discuss various tasks, from organizing pet care to community memberships to digital platform instructions, with the hope of easing the burden on the people you care about most and working to safeguard your legacy. 

In this episode, Mark and Evan Fricks discuss the critical decade before retirement, revealing strategies that may work to beef up savings, slash debts, and pivot investment tactics. If you're in your early 50s, it's high time to fine-tune your financial engine with your partner and contemplate life's big moves, such as downsizing or planting new roots. This episode is your roadmap to align your retirement dreams with concrete, actionable plans. Picture your life post-career—do you see a horizon filled with purpose and vitality? Transitioning from the daily grind to retirement's open-ended landscape can be more than just a monetary shift; it's a journey to rediscover your zest for life while keeping your finances and health in tip-top shape. Embrace the insights shared on the importance of maintaining social connections, considering part-time work, and the art of crafting a flexible, robust financial plan that can withstand the unexpected. We're here to guide you through this complex terrain. We discuss the often healthcare-intensive third decade of retirement. We address the necessities of home modifications, the vigilance required for estate planning, and strategies to counter the stealthy creep of healthcare inflation. With regular legal check-ups and a dynamic, comprehensive approach, your retirement plan can gracefully adapt and flourish. Tune in for an enlightening discussion that evolves with you—through every phase of retirement.

Are you prepared for the rising tide of retirement costs and the inevitable tax hikes that could erode your nest egg? That's exactly what we're unpacking today on Retirement Roadmap, with your hosts Mark and Evan Fricks. From the looming expiration of the 2017 Tax Cut Act to the sobering outlook on Social Security, we're giving you the straight talk on how these factors can significantly impact your golden years. Join us as we navigate these critical topics, aiming to fortify your retirement roadmap against the current economic climate's choppy waters.

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.