Overcoming The Fear Of Financial Mistakes

In this episode, Mike discusses having a personalized approach to income planning and the risks associated with different income sources in retirement. He also explains the impact of inflation on retirement income and why it needs to be factored into financial planning. Visit LifePlanWealth.com to…

The Risks Of DIY Tax Planning In Retirement

Tax planning in retirement is crucial and differs from tax planning during working years. Doing it yourself may result in some challenges. In this episode, Mike discusses the tax rules and regulations retirees face and highlights the importance of aligning tax planning with goals and lifestyle cho…

Exploring The Option Of Snowbirding In Retirement

What are the benefits and challenges of having two properties in retirement? In this episode, Mike discusses whether it's better to own or rent a property down south, balancing the expenses of having two homes, and why legacy planning is important to think about when determining if snowbirding is …

No More Pensions: The Changing Landscape Of Retirement Planning

Companies are moving away from pensions due to the financial strain of supporting retirees with life expectancy rising and people working less years for one company in their careers. In this episode, Mike discusses The Big 3 (Ford, Chrysler, and General Motors) and the pros and cons of the options…

The Trade-Offs Of Waiting: Missed Benefits and Depleted Savings

When deciding when to take Social Security benefits, it's important to consider the holistic picture of your retirement plan, including savings, income needs, and investment growth potential. In this episode, Mike discusses how waiting to take Social Security may result in missed benefits and the …

Fees In Retirement You May Not Be Aware Of

Airlines brought in a whopping $33 Billion in baggage fees last year. These are fees we know that we pay when we travel. But what about the fees in your retirement portfolio? How much in hidden fees are you really paying? In this episode, Mike explains why retirees could be mislead by how much the…

Finding The Right Withdrawal Rate In Retirement

Running out of money is the biggest concern retirees have when they stop working. The 4% Rule has been regarded as the safest percentage to withdraw each year to never run out of money, but is that calculation outdated? In this episode, Mike discusses what factors need to be considered when determ…

Investing In Cryptocurrency For Retirement

Bitcoin recently made a new all-time high, breaking through $70,000 for the first time. But does a highly volatile and speculative asset belong in a retirement plan? In this episode, Mike explains why cryptocurrency has become more mainstream and how Bitcoin became a more legitimate asset this yea…

March Madness And Your Money: Building A Retirement Gameplan

College basketballs’ NCAA tournament is right around the corner! For many it’s March Madness’s exciting unpredictability that they love, but when it comes to retirement “unpredictable” is not what most of us seek. In this episode, Mike uses the tournament to illustrate these key principles of fina…

Don't Let Retirement Taxes Steal Your Golden Years

We’re enjoying the lowest tax rates we may ever see in our lifetimes, mostly due to the Trump Tax Cuts. The bad news is that those cuts expire at the end of next year unless Congress acts. Tax expert Ed Slott says it’s an opportune time to make a Roth conversion, and Michigan’s Retirement Coach, Mi…