In this episode of The Money Professor, Chris Longworth discusses the significant wealth transfer occurring as Baby Boomers transition from working to retirement. With an estimated $85 trillion in assets expected to change hands, the conversation emphasizes the importance of financial planning, risk assessment, and the implications of taxes on inheritance. The episode also highlights lessons learned from financial failures, such as the collapse of Lehman Brothers, underscoring the necessity of proper planning and diversification in wealth management. In this conversation, Gary Nolan discusses various aspects of financial planning for retirement, focusing on Social Security, Medicare, retirement savings, tax policies, and listener questions. He emphasizes the importance of understanding changes in Social Security, potential expansions in Medicare, and the impact of interest rates on retirement savings. Nolan also addresses tax strategies for minimizing liabilities and the implications of refinancing in retirement. The conversation concludes with insights on Medicare Advantage plans and how moving can affect coverage options.

Call Chris Longworth and the team at The Financial Education Group at 800-719-7917 or visit wealthdefender.com.