Retirement Answers

Latest Episodes:

The Secret Ingredient to a Successful Retirement Feb 27, 2024

Show notes

Discover the missing ingredient to a successful retirement in this episode of Retirement Answers with Jacob Duke. Learn why this ingredient is crucial to your retirement plan and how it can impact your decision-making process.

Jacob discusses the pitfalls of trying to be exactly right and the importance of being less wrong tomorrow. He also explores the benefits of building flexibility into your plan, including tax diversification, delaying Social Security, and having wiggle room in your distribution rate.

(00:00) - Intro
(01:06) - Listener Review
(02:01) - Secret Ingredient: Part 1
(09:17) - Secret Ingredient: Part 2
(15:07) - Big Takeaways
(18:26) - Outro

If you enjoy the podcast, I'd love it if you could give a rating and review on Apple Podcasts. It's the best way you can say 'Thank You'!

Want help with your retirement plan?👇🏼
☎️ Book a call with me
✉️ Email me: jacob@rivertreewealth.com

My YouTube Channel

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity

Should I Take Social Security & Invest It? Feb 20, 2024

Show notes

In this episode of Retirement Answers, Jacob answers the common question, "should I take social security early and invest it?"

Jacob talks through the following:
- Benefits and risks of this strategy
- An example
- Big takeaway

00:00 Intro
00:40 Listener Review
01:10 Benefits and Risks
12:02 Example
14:32 The Importance of Considering Your Unique Plan
15:10 Big Takeaway
18:12 Final Thoughts

If you enjoy the podcast, I'd love it if you could give a rating and review on Apple Podcasts. It's the best way you can say 'Thank You'!

Want help with your retirement plan?👇🏼
☎️ Book a call with me
✉️ Email me: jacob@rivertreewealth.com

My YouTube Channel

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity

Should I Prioritize Roth Conversions or Health Insurance Subsidies? Feb 13, 2024

Show notes

In this episode, Jacob discusses the decision many retirees have to make: prioritizing health insurance subsidies or Roth conversions? He highlights considerations such as the person's tax-deferred balance, age, and whether they are charitably inclined.

Jacob explains how the Affordable Care Act can lower premiums for those under a certain income level, and spells out the potential tax savings involved in Roth conversions. He also puts forth the possibility of combining both strategies, depending on specific circumstances.

If you enjoy the podcast, I'd love it if you could give a rating and review on Apple Podcasts. It's the best way you can say 'Thank You'!

Want help with your retirement plan?👇🏼
☎️ Book a call with me
✉️ Email me: jacob@rivertreewealth.com

My YouTube Channel
Submit your question here: jacob@retirementanswers.net

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity

When is the Best Time to Retire? Feb 06, 2024

Show notes

"When should I retire?" can be one of the hardest questions to answer. There isn't a perfect answer nor a one-size-fits-all. There are plenty of rules of thumb you could go by, but taking an individualized approach to this decision based on your circumstances might be the most important part.

In this episode, I share 6 thoughts or ideas to consider when trying to determine the best time to retire. Once you can answer to these 6 ideas with confidence, you could be ready to retire.

If you enjoy the podcast, I'd love it if you could give a rating and review on Apple Podcasts. It's the best way you can say 'Thank You'!

Want help with your retirement plan?👇🏼
☎️ Book a call with me
✉️ Email me: jacob@rivertreewealth.com

My YouTube Channel
Submit your question here: jacob@retirementanswers.net

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity

5 Common Retirement Regrets (& How To Avoid Them) Jan 30, 2024

Show notes

Have you ever heard someone say they weren't enjoying their retirement? Or maybe they were bored or felt lost?

Unfortunately, I hear retirees say this more often than I would like. Because of this, I wanted to share some common regrets I hear from those who are in retirement so that you can avoid those regrets yourself.

If you enjoy the podcast, I'd love it if you could give a rating and review on Apple Podcasts. It's the best way you can say 'Thank You'!

Want help with your retirement plan?👇🏼
☎️ Book a call with me
✉️ Email me: jacob@rivertreewealth.com

My YouTube Channel
Submit your question here: jacob@retirementanswers.net

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity

Social Security Survivor Benefits: A Complete Guide Jan 23, 2024

Show notes

Social Security can get confusing very quickly. You have FRAs & PIAs, and Spousal benefits, Survivor benefits, Disability, and your own benefits.
And the crazy part is that each of these "types" of Social Security benefits have different rules and nuances.

In this episode, I am sharing everything you need to know about Survivor Benefits. We will answer the following questions:

Who gets a survivor benefit?
When can I get a survivor benefit?
Do I get my own benefits and the survivor benefit on top of that?
How much will my survivor benefits be?
Do I have to take survivor benefits immediately?
Can I still get survivor benefits if I am divorced?

I am sharing the answers to these questions and giving you what you need to know about Social Security survivor benefits. Buckle up, because it get's pretty technical in this episode!

Other episodes mentioned:
Ep. 45: The Complete Guide to Social Security Spousal Benefits

Want help with your retirement plan?👇🏼
☎️ Book a call with me
✉️ Email me: jacob.duke@appliedcapital.com

My YouTube Channel
Submit your question here: jacob@retirementanswers.net

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity

Last 5, First 5: The Most Important Years Jan 16, 2024

Show notes

I've had this concept in my mind lately and wanted to share it with you. It's not groundbreaking or innovative. It's a simple concept that I have labeled "Last 5, First 5". It's the idea that this 10 year window (the last 5 years of your career and the first 5 years of your retirement), is the most important to get right in your retirement journey.

If you don't get things right in the Last 5, First 5, a successful retirement could be in doubt... Hopefully, this episode encourages you to start preparing for retirement sooner and make sure you execute the plan in the early years of retirement.

Want help with your retirement plan?👇🏼
☎️ Book a call with me
✉️ Email me: jacob.duke@appliedcapital.com

My YouTube Channel
Submit your question here: jacob@retirementanswers.net

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity

3 Investment Principles to Live By Jan 09, 2024

Show notes

Investing can be hard, but it doesn't have to be... What if I said simple is better, and you don't need a crazy strategy to be a successful investor? We all have our own biases & opinions about what to invest in, but we also have friends, family, neighbors, & advisors telling us what we should do. So, how we do know what the best solution is?

Well, I'm sharing 3 principles that I use as a guide to my investment decisions. I hope these help you become a better investor!

Want help with your retirement plan?👇🏼
☎️ Book a call with me
✉️ Email me: jacob.duke@appliedcapital.com

My YouTube Channel
Submit your question here: jacob@retirementanswers.net

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity

The Power of a One-Page Plan Jan 02, 2024

Show notes

Does retirement scare you or give you anxiety? Do you feel like there is too much to know? Well, you're not alone. Almost everyone I talk to who is trying to retire feels a sense of analysis paralysis. They know there are many considerations to thinking about when putting together their retirement plan, but are just unsure how to put it all together.

In comes the One-Page Plan... This is a documents that simply lists out what needs to evaluated and when. But how can you fit everything onto 1 page? Well, that's not really the point. The point is to create a distilled list of items to plan for rather than have a 50 page retirement plan. A long retirement plan will only leave you more confused...

I'm a fan of simplicity. I know that a One-Page Plan will give you clarity, direction, and increase your confidence around retirement. Listen in to see the power of how this works.

Other episodes mentioned: 3 Bucket Retirement Plan

Want help with your retirement plan?👇🏼
☎️ Book a call with me
✉️ Email me: jacob.duke@appliedcapital.com

My YouTube Channel
Submit your question here: jacob@retirementanswers.net

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity

Important Numbers to Know in 2024 Dec 26, 2023

Show notes

2024 is right around the corner and there are important changes that you need to know about!

In this episode, we are covering:

IRA contribution limit increases
401k contribution limit increases
IRA deductibility rules
Roth eligibility rules

And I have a FREE cheat sheet for you! This is a resource you can use throughout 2024 to make sure you are on track. Email me for a copy of this FREE resource.

***Help me make the show better in 2024. Fill out this quick survey!

Want help with your retirement plan?👇🏼
☎️ Book a call with me
✉️ Email me: jacob.duke@appliedcapital.com

My YouTube Channel
Submit your question here: jacob@retirementanswers.net

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity

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