Retirement Answers

Latest Episodes:

The 3 Bucket Retirement Plan Aug 01, 2023

Show notes

There are many different retirement income strategies to choose from, but my favorite is the 3 Bucket Plan.

I'm a visual learner and being able to separate my money out into 3 different silos helps me remember why my money is invested the way it is.

Bucket #1 = Cash
Bucket #2 = Bonds
Bucket #3 = Stocks

Each bucket has a purpose and a goal. This approach helps you create your investment allocation based on your unique needs, not some rule of thumb.

Enjoy the show!

Listen on Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-answers/id1660268930
Listen on Spotify: https://open.spotify.com/show/6a5BQ6ezlhiVyNyW5uxW16?si=1dcefde721ed489a

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

Submit your question here: jacob@retirementanswers.net
YouTube: https://www.youtube.com/@retirementanswers

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

5% CDs Are Not Good Investments Jul 25, 2023

Show notes

Over the last 18 months, the Federal Reserve has been increasing it's interest rates. And because of this interest rates on cash, CDs, Money Markets, Mortgages, and Car Loans have also increased.

In fact, interest rates are the highest we have seen in quite some time. Which can create some issues after such a long period of low interest rates.

We got used to really low mortgage rates, but it seems like those are a thing of the past. And now you can get 5% on a 6-month CD! What a welcome sight...

Well, these higher interest rates have led to some bad investing behavior. People are trading in their long-term "risky" investments for short-term "safe" investments. In this episode, I share why this is could be a major investing mistake.

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

Submit your question here: jacob@retirementanswers.net
YouTube: https://www.youtube.com/@retirementanswers

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

Asset Location - How It Saves You Taxes Jul 18, 2023

Show notes

We all know about how important it is to have a plan for taxes in retirement. So, we create Roth conversions strategies, but what if I told you there is simple tax savings strategy that is available to anyone.

It's called Asset Location.

This is when you align the tax type of your investments when the tax type of your accounts to minimize your annual tax burden.

For example, your IRA will always be taxed as normal income when you take money from it. Because of this, you would want to have investments that are taxed as normal income in this account type.

Asset location is a simple way to lower your tax bill annually, but many don't know about it or are overlooking this - even advisors...

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

Submit your question here: jacob@retirementanswers.net
YouTube: https://www.youtube.com/@retirementanswers

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

5 Things To Do 5 Years From Retirement Jul 11, 2023

Show notes

This week I share 5 things that you need to be doing 5 years before retirement. These are things that will help you have the most successful and fulfilling retirement.

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

Submit your question here: jacob@retirementanswers.net
YouTube: https://www.youtube.com/@retirementanswers

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

Q&A Mailbag: Roth Conversions, Basis in IRAs, & Inherited Roth IRA Taxes Jul 04, 2023

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The Real Risk of Stocks Jun 20, 2023

Show notes

We all think stocks are risky because they are volatile. "Oh no! My account is down 25%, I'm losing all of my money!!"

Well, today let's have an honest conversation about risk... I want to flip this idea of risk on its head and share my thoughts on what risk really is and what it isn't.

Enjoy the show!

I'm 55, With $1 Million Saved. Can I Retire? Jun 13, 2023

Show notes

We are all curious if we have enough saved to retire. What most people don't do is dig into the details of their savings to see how strategically positioned they are to successfully retire.

In this week's episode of Retirement Answers, I walk through a case study from a recent question I received. Be sure to listen in to hear about some of the questions I think about and ask as I evaluate someone's ability to retire.

Enjoy the show!

Your Retirement Plan is Wrong... Jun 06, 2023

Show notes

What if I told you your retirement plan is wrong? Initially, probably wouldn't be very comforted to hear that, but I'm here to tell you that it's okay!

The simple reality is that we have no way of knowing the future, so all of our retirement plans will be wrong.

In this episode of Retirement Answers, I share why it is okay to have an incorrect retirement plan and why having a plan is still very important.

Enjoy!

401k Catch-Up Contribution Changes in 2024 (SECURE Act 2.0) May 30, 2023

Show notes

Another big change from the SECURE ACT 2.0 is coming in 2024... This time it has to do with catch-up contributions for everyone 50 or older.

Tune into this episode of Retirement Answers to learn everything you need to know about this rule change.

Enjoy the show!

Annuities (Part 2): Why I Don't Like Them May 23, 2023

Show notes

Last week on Retirement Answers I shared what annuities were and how they worked.

Well, this week I am sharing 6 reasons I do not like annuities and why I think they are not the best investment option for most investors. I hope you enjoy the show.

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