Retirement Answers

Latest Episodes:

6 Reasons to Spend Your Roth IRA in Retirement Aug 27, 2024

Show notes

Having a Roth IRA in retirement can be very powerful. It allows you to make tax-free distributions for retirement income and gives you flexibility around your tax brackets...

But I've noticed one thing. I/we as financial planners often suggest taking from your Roth IRA last for income in retirement so it has more time to compound tax-free. While this is often a good idea mathematically, I have been asking myself this question:

"Everyone is told to save to a Roth IRA so they have tax-free income in retirement, but when they get to retirement they are told not to spend from their Roth IRA. What's the point of having a Roth IRA if you aren't going to use it??"

In today's episode, I talk through this question and share 6 reasons you would spend your Roth IRA earlier in retirement. Enjoy!

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Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-started

Email: jacob@rivertreewealth.com
Website: https://www.rivertreewealth.com
LinkedIn: https://www.linkedin.com/in/jacobduke

Jacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.

DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

Navigating Market Volatility in Retirement Aug 13, 2024

Show notes

It's not secret that sudden market declines can cause fear and anxiety in investors' minds. Recently, we've seen some volatility enter the markets and you might be wondering if you should make any changes to your portfolio.

In this episode, I provide a framework and steps you can follow to navigate the emotions and uncertainties market volatility throw at us.

If you'd like an example of the Retirement Income Buckets, shoot me and email and I will send it right over!

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Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-started

Email: jacob@rivertreewealth.com
Website: https://www.rivertreewealth.com
LinkedIn: https://www.linkedin.com/in/jacobduke

Jacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.

DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

Watch Out for These 5 Investing Mistakes! Jul 30, 2024

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Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-started

I've seen a common theme in almost every portfolio review I have done lately for prospective clients... I share that investing mistake and 4 others with you in this weeks episode!

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Website: https://www.rivertreewealth.com
LinkedIn: https://www.linkedin.com/in/jacobduke

Jacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.

DISCLAIMER: This video is not meant to be taken a tax, legal, or investment advice. All content is for educational purposes only.

Tax-Savvy Retirement: Asset Location Explained Jul 18, 2024

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Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-started

Tax planning is a huge part of building a successful retirement plan. You often hear about Roth conversions or tax-loss harvesting, but there is a simple way that EVERYONE can reduce there taxes each year... ASSET LOCATION.

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Website: https://www.rivertreewealth.com
LinkedIn: https://www.linkedin.com/in/jacobduke

Jacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.

DISCLAIMER: This video is not meant to be taken a tax, legal, or investment advice. All content is for educational purposes only.

5 Ways to Reduce Your RMDs (& SAVE BIG) Jul 02, 2024

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Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-started

Required Minimum Distributions (RMD) aren't the worst thing in the world, but they could force you to pay taxes you don't want to pay. In this episode, I share 5 ways to reduce your RMDs and take back control of your tax bill in retirement.

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Website: https://www.rivertreewealth.com
LinkedIn: https://www.linkedin.com/in/jacobduke

Jacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.

🔔 Subscribe to the channel and press the bell icon so you never miss a video!

DISCLAIMER: This video is not meant to be taken a tax, legal, or investment advice. All content is for educational purposes only.

Where Should I Pull Funds From First in Retirement? Jun 25, 2024

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Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-started

Not sure where to pull income from first in retirement? It can be a overwhelming to figure this out because of the impact your distributions have on other items in retirement such as Social Security taxes, RMDs, Medicare Premiums, and more.

This week on the podcast I share some ideas around how to decide where to pull income from first in retirement.

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Website: https://www.rivertreewealth.com
LinkedIn: https://www.linkedin.com/in/jacobduke

Jacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.

🔔 Subscribe to the channel and press the bell icon so you never miss a video!

DISCLAIMER: This video is not meant to be taken a tax, legal, or investment advice. All content is for educational purposes only.

7 Reasons NOT To Do Roth Conversions Jun 11, 2024

Show notes

Today, I'm sharing 7 reasons you shouldn't do Roth conversions... I hear about far too many people who are trying to do Roth conversions, but they shouldn't be doing any at all. Yes, Roth conversions are a power tax planning strategy for retirees, but it's not the best strategy for everyone.

Creating a comprehensive plan that is unique to your situation is key. Don't just do Roth conversions because it's what everyone is talking about!

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Website: https://www.rivertreewealth.com
LinkedIn: https://www.linkedin.com/in/jacobduke

Jacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.

🔔 Subscribe to the channel and press the bell icon so you never miss a video!

DISCLAIMER: This podcast is not meant to be taken as tax, legal, or investment advice. All content is for educational purposes only.

How Much Money Do You ACTUALLY Need To Retire? Jun 04, 2024

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Need a custom retirement plan? 👉 Get started today: https://www.rivertreewealth.com/get-started

Wondering if you have enough money saved up to retire comfortably in 2024? In this video, I provide a framework you can use to evaluate how much you need to live a worry-free retirement.

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Website: https://www.rivertreewealth.com
LinkedIn: https://www.linkedin.com/in/jacobduke

Jacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.

🔔 Subscribe to the channel and press the bell icon so you never miss a video!

DISCLAIMER: This video is not meant to be taken as tax, legal, or investment advice. All content is for educational purposes only.

Will My Social Security Be Taxed? May 28, 2024

Show notes

One of the biggest questions around Social Security is, "Will I pay income taxes on my Social Security benefits?"

I answer this very question, walk through an example, and share some tips on how you can lower your Social Security taxes in the future.

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Website: https://www.rivertreewealth.com
LinkedIn: https://www.linkedin.com/in/jacobduke

Jacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.

👉 Do you have your custom retirement strategy? If not, get started today: https://www.rivertreewealth.com/get-started

🔔 Subscribe to the channel and press the bell icon so you never miss a video!

DISCLAIMER: This video is not meant to be taken as tax, legal, or investment advice. All content is for educational purposes only.

Is Social Security Going to Run Out?! May 21, 2024

Show notes

In recent years, there has been a growing concern around Social Security going insolvent.

There are some truths to these concerns, but there are also many misunderstandings. The biggest misunderstanding is that Social Security will be going away entirely.

The confusing part is that the Social Security trust fund could be running out in the future, but Social Security is a pay-as-you-go system. This just means that the dollars received every year in taxes are paid out every year in benefits.

So, as long as taxes are being received, something will be paid out. How much will be paid out though? That's the question that is on everyone's mind.

In this episode, I break down:
- The details of the latest Trustee Report that was published on May 6th, 2024.
- The problem at hand
- Ideas for how the system can be sured up
- What the trustees suggest and the magnitude of this needing to be fixed
- How you should react as a retiree or pre-retiree.

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Website: https://www.rivertreewealth.com
LinkedIn: https://www.linkedin.com/in/jacobduke

Jacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.

👉 Do you have your custom retirement strategy? If not, get started today: https://www.rivertreewealth.com/get-started

🔔 Subscribe to the channel and press the bell icon so you never miss a video!

DISCLAIMER: This video is not meant to be taken as tax, legal, or investment advice. All content is for educational purposes only.