Stay ConnectedPlanning for, or already enjoying, your retirement? This is the show for you.
The success of your retirement hinges on how well you connect the dots between legal, tax, and financial planning. Join your hosts John Ross, JD and Devin Carroll, CFP® as they dig beneath the surface to help you gain the confidence and clarity needed to navigate your retirement journey successfully.
Copyright: © 2023
Devin and John are joined by Roger Whitney, founder of the Retirement Answer Man Podcast and author of the recently released book, Rock Retirement.
For more information, visit the show notes at http://www.bigpictureretirement.net/068
Devin and John explore one popular alternatives to traditional health insurance: health care sharing arrangements.
John has about 20 employees, and he provides health insurance to the employees (but not the families.) This is a high-deductible plan, so the employee still pays $3,000 to $4,000 per year before the insurance kicks in. So, as a general rule, John knows that he (and his employees) will see virtually no benefit from this very expensive coverage.
Because a health care sharing arrangement is not traditional health insurance, there are some important secondary results. For example, these plans don't make you eligible to use a health savings account (HSA). It also doesn't count as health insurance to be deducted as self-employment insurance premiums on your taxes.
Bottom line: if you are out there in the open market looking for health insurance, you should at least explore these health care sharing arrangements.
For more information, visit the show notes at http://www.bigpictureretirement.net/067
David Stein, host of the Money For The Rest of Us podcast, will explain the importance of trade, and how the trade, and trade wars, might impact you and your retirement.
For more information, visit the show notes at http://www.bigpictureretirement.net/066
Devin brings on special guest Andrew Comstock to talk about what's going on in the market and what we can expect moving forward
The Census Bureau has announced that by 2030, senior citizens (65 and older) will outnumber people aged 18 and under. What will this mean for health care costs and the security of pension plans?
John and Devin also talk about a recent app that sold millions of people's Facebook information. Is this truly a data breach of sorts?
For more information, visit the show notes at http://bigpictureretirement.net/065
Each month or so, Devin and John devote an episode to answering listener questions. This week, they've picked two great questions submitted by listeners like you.
Devin answered this question: "Is this a good time to invest?"
John tackled the concern from a listener who asked: "Is there any way I can keep a nursing home from taking my Social Security?"
For more information, visit the show notes at http://www.bigpictureretirement.net/064
Not all accountants are created equal. Some are just document processors. They get you in, do your return and send you on your way. Advice? Ha! Others actually care enough to ask the important questions and give you guidance that improves your tax outlook. For more information, visit the show notes at http://www.bigpictureretirement.net/hiring-right-tax-advisor/
You've probably heard the Biblical account of Jacob & Esau. Hidden within this story is a powerful lesson about estate planning that is still overlooked today.
For more information, visit the show notes at http://www.bigpictureretirement.net/episode-002-lesson-from-jacob-esau/
As you approach your 60s, the hot question becomes, "When should I file for Social Security?"
It's an easy question, right? You just figure out when you're going to die, and then do the math.
Unfortunately, the world doesn't work like that.
Devin points out that the real question should be, "What if I live longer than expected?
For more information, visit the show notes at http://www.bigpictureretirement.net/061
Should I buy long-term care insurance? Should I keep the long-term care insurance I already have? These are important questions, and there are no easy answers. Long-term care is expensive, but long-term care insurance is also expensive. When you start looking at some of the statistics, it can get scary. But thankfully, the statistics don't show the whole picture. Once you consider all the issues and factors, the big question is managing the risk of needing financial assistance with long-term care vs. how much it is going to cost to manage the risk. There are three ways to pay for long-term care: 1) Self-funding through personal assets 2) Through access to government benefits, either VA benefits or Medicaid 3) Long-term care insurance For more information, visit the show notes at http://www.bigpictureretirement.net/060
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