Challenges Of Managing RMDs

Mike dives into how required minimum distributions work and how they can possibly lead to higher tax brackets in retirement. He emphasizes the need to minimize taxes and create tax-efficient income streams. Mike also touches on the challenges of managing RMDs and the penalties for not taking out t…

Tax Optimization And Income Maximization

Mike and Ryan discuss the DOW Jones recently breaking the 40,000 mark and the impact of market fluctuations on retirement planning. They emphasize the importance of tax planning and taking control of tax bills during retirement. Mike and Ryan also cover strategies for minimizing tax liabilities an…

The Impact Of Government Spending On Taxes

Mike and Ryan delve into the implications that government spending can have on your taxes, and the potential shock that may come when taxes increase after the Trump tax cuts expire. They also discuss the need for tax efficiency and the potential savings that could come from strategic financial pla…

Alternative Options For Funding Long-Term Care

Ryan Herbet discusses the potential impact of healthcare and long-term care expenses on retirement savings and the transfer of wealth to future generations. He highlights the need for tax planning and what the tax implications may be of passing wealth down to children. Ryan also explores alternati…

The Unpredictability Of The Stock Market

Retirees are getting anxious about the unrest in the world, upcoming elections, and out-of-control government spending. Warren Buffett advises against making investment choices based on short-term headlines and instead focuses on predicting what will happen in the next 10 years. The stock market is…

Maximizing Retirement Income With Roth Conversions

What are the tax consequences of working longer in retirement to gain more income? In this episode, Ryan discusses the impact of taxes on retirement income and the importance of tax planning. Also, Ryan explains how Roth conversions can be a valuable strategy to save on taxes in retirement. Want …

Misconceptions About Your 401k In Retirement Planning

Having a 401k does not automatically mean you have a substantial retirement fund. While a 401k is a tool to save money for retirement, it doesn't guarantee a successful income plan. In this episode, Mike and Ryan explain why people may lack the necessary knowledge and guidance to make informed dec…

How Tax Friendly Is Maryland For Retirees?

Tax planning is a crucial aspect of financial planning, as taxes may significantly impact retirement savings. In this episode, Ryan Herbert tells us where Maryland stands compared to other states regarding tax rates. Learn about how where you live can affect your overall retirement plan and the im…

Understanding The Tax Implications Of Annuities

Diversifying tax buckets is important when minimizing tax implications. A plan that considers the lowest tax bracket today and throughout retirement is essential to understand when aiming for tax efficiency. In this episode, Mike and Ryan break down how different investments such as annuities have…

Don't Pay Taxes That Aren't Necessary

Taxes are unfair. That’s what Ron Swanson of “Parks and Rec” taught a young student by eating most of her lunch. On this episode, Mike expresses the frustrations he has with lazy CPAs that are costing the taxpayer money they legally aren’t obligated to pay. Plus, hear about how proper tax planning…