Secure Your Retirement

Latest Episodes:

How Required Minimum Distributions and QCDs Work? Jun 06, 2022

Show notes

When it comes to taking your money out of your IRAs and 401ks after retirement age, you might need to understand the terms RMDs and QCDs.

At age 72, you’re required to start taking distributions out of your 401k and IRAs with a formula based on your life expectancy. The key here is to be tax-efficient or even go tax-free in any way you can without breaking the law.

In this episode of the Secure Your Retirement podcast, we take you through the Required Minimum Distributions and Quality Charitable Distributions. Listen in to learn how to save on tax by taking your money out of an IRA/401k and doing a Roth conversion if you’re 65 and retired.

In this episode, find out:

The formula to calculate your distributions which you’re required to start taking based on your life expectancy.
Taking out your RMDs in the year you turn 72 and the consequences of deferring your first RMD.
Understand that you can withhold tax for RMDs plus the frequency in which you take your RMDs.
Understanding how any pre tax asset that is subject to RMDs is calculated.
Why take money out of your IRA/401k and do a Roth conversion if you’re 65 and retired to save on tax.
Where to take the RMD money from when you have several IRAs and 401ks.
Quality Charitable Distributions (QCDs) – qualifying to take your IRA money tax-free at age 70 and a half.
How to avoid paying tax or doing it efficiently on your RMD through the QCD strategy.

Tweetable Quotes:

“At age 72, you’re required to start taking distributions out of your 401k” - Radon Stancil
“It’s perfectly legal to defer your first and only RMD, after that, it must be all completed by 12/31 of the calendar year.”- Murs Tariq

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

6 Considerations for Your Estate Plan May 30, 2022

Show notes

When it comes to estate planning, some things are essential and required at all times to simplify the process for your family when you’re no longer here.

In this episode of the Secure Your Retirement podcast, we talk about the 6 essential and required things you need to consider when estate planning over a glass of Raphael Prosecco sparkling wine. We explain the purpose and importance of having documents such as a will, power of attorneys, the HIPAA form, beneficiary form, and the transfer on death document.

Listen in to learn the purpose of having the durable and healthcare power of attorneys to make things simpler for your family in case you become incapacitated.

In this episode, find out:

The importance of having a will to simplify things for your loved ones when you’re no longer here.
Healthcare power of attorney – appointing someone to carry out your healthcare decisions for you if you’re incapacitated.
How having a healthcare power of attorney uncomplicates complicated situations for your family.
The durable power of attorney - appointing someone to carry out your financial decisions for you if you’re incapacitated.
Get both durable and healthcare power of attorneys prepared in advance and when in full capacity.
How the HIPAA form allows your family to have access to your medical records.
The beneficiary form drives where all your accounts funds go at the time of your passing.
The importance of having a transfer on death document to simplify things on your bank accounts.

Tweetable Quotes:

“Without a will, simple things become very complicated.”- Radon Stancil
“A power of attorney is being appointed to be your agent; someone that’s going to make decisions on your behalf in the case that you’re not able to.”- Murs Tariq

Resources:

To access the course, simply visit POMWealth.net/podcast.

When is Cash Good? May 23, 2022

Show notes

Why would cash be able to beat other types of investments? When dealing with a volatile market like we’re currently experiencing, cash can become an important asset class.

Going to cash means selling investments and putting the money on temporary hold as you evaluate the markets. It’s basically a movement to a safety method as you evaluate the market, waiting to redeploy your money when the markets start looking good.

In this episode of the Secure Your Retirement podcast, we explain the benefits of going to cash and share examples of when it has worked out for our clients. Listen in to learn why you shouldn’t be worried about not earning anything when sitting in cash because the purpose of it is to not lose money.

In this episode, find out:

The difference in the cash conversation between an active and a passive money manager.
The meaning of going to cash and why it’s a movement to safety strategy.
Cash is king when other assets are going down and cash remains neutral.
The power of cash in protecting you from losing money even though you’re not earning.
How we went into cash and then back into the money markets safely during the 2020 pandemic.
The dates on the recent market volatility and our decision to go fully in cash.
Our objective of buying when we see demand and selling when the demand goes away.

Tweetable Quotes:

“You’re either risk-on, and you’re fully invested in the market, or you’re risk-off, and you’re fully in cash.”- Murs Tariq
“If cash is neutral and it’s not going up or going down and if other assets are going down and cash is not, then cash is king.” - Radon Stancil

Resources:

To access the course, simply visit POMWealth.net/podcast.

Tax Planning Versus Tax Preparation May 16, 2022

Show notes

Did you know that you can legally and ethically avoid paying unnecessary taxes by working with the tax code? With tax planning, you can avoid tax risk.

Tax preparation is about being reactive while tax planning is about being proactive all year round every single year. Tax planning years in advance when done correctly, can massively change how much you pay in taxes.

In this episode of the Secure Your Retirement podcast, we talk about the benefits of tax planning in the long term as opposed to tax preparation. Listen in to learn how to pay less tax on your income after retirement if you make the same as before or even more.

In this episode, find out:

● The benefits of tax planning and being proactive in the tax calendar year.

● The big difference between tax preparation and planning – being reactive vs. proactive.

● Minimize tax on social security benefits by planning to get the money into a tax-free scenario.

● Why do many people make the same amount of income in retirement and even more?

● The importance of putting all your money in pre-tax retirement assets like the IRAs and 401ks.

● The importance of Roth conversions as part of your long-term tax planning goal.

● Plan for your surviving spouse to ensure they aren’t paying more taxes than they’re supposed to.

Tweetable Quotes:

● “In retirement, taxes can change the situation drastically in your favor as well as cost you a lot of money.” - Radon Stancil

● “Roth conversions are a big way to start thinking about this long-term tax planning goal.”- Murs Tariq

Resources:

To access the course, simply visit POMWealth.net/podcast.

The Retirement Bucket Strategy May 09, 2022

Show notes

Have you given thought to how you’d like to structure your retirement plan? How about a strategy that ensures you have both income and growth in retirement?

The bucket strategy is a simple strategy that will give you peace of mind through your retirement. The goal for your retirement should be to have access to money, an income stream, and growth on your money.

In this episode of the Secure Your Retirement podcast, we talk about the retirement bucket strategy and its peace of mind benefit. Listen in to learn how to separate the cash, income, and growth buckets and remove worries from your retirement plan.

In this episode, find out:

The 3 buckets that make up our peace of mind first retirement strategy.
Having a liquid cash bucket – an existing and protected emergency or feel-good fund.
The income bucket – is a paycheck you can rely upon every single month to cover your needs and wants.
The growth bucket – a growing yet risky bucket and likely going to be in the stock market.
Why the income bucket should be disconnected from any stock market fluctuations.
How the peace of mind first retirement strategy removes any worry of the stock market fluctuations.

Tweetable Quotes:

“The reason we can have some volatility in the growth bucket is because we know that our income is covered.”- Murs Tariq
“When you retire, you want to make sure that you have the income coming in and you don’t want to worry about it.”- Radon Stancil

Resources:

To access the course, simply visit POMWealth.net/podcast.

Lynne Bowman - Brownies for Breakfast May 02, 2022

Show notes

How conscious are you about what you eat? Your health is indeed your wealth; staying healthy is one of the best financial strategies you can have.

Eating for health and wealth means eliminating sugar and bad ingredients from your diet and choosing to eat whole plant-based foods.

In this episode of the Secure Your Retirement podcast, we have Lynne Bowman, author of the Brownies for Breakfast book. Listen in to learn the benefits of eating and sleeping to give your body time to clean and heal itself.

In this episode, find out:

● Why staying healthy is one of the best financial strategies you can have.

● How to be conscious about the food you eat to keep your finances and live a longer life.

● The influence of a community on the way you eat and how healthy you live.

● How to radically improve your health by eating and sleeping to give your body time to clean itself.

● The importance of eating whole foods, plant-based foods, and well-sourced meat for better health.

● Why eliminating sugar and bad ingredients in your diet can reduce food addictions.

● How to substitute a good diet with moving your body with less strenuous exercises.

Tweetable Quotes:

● “Staying healthy is one of the best preventive financial strategies you can have.”- Lynne Bowman

● “The first thing you might consider doing to radically change your health is to stop eating all the time.”- Lynne Bowman

Get in Touch with Lynne:

● Website: https://lynnebowman.com/

● Book: Brownies for Breakfast by Lynne Bowman

Resources:

To access the course, simply visit POMWealth.net/podcast.

Wine Down - Social Security Questions Answered Apr 25, 2022

Show notes

We understand that social security isn’t the most exciting topic to talk about or listen to, but some questions need answers.

In this episode of the Secure Your Retirement podcast, we answer 3 major questions on social security over a glass of Rosé wine. We talk about social security benefits, taxes, and the right time to take social security.

Listen in to learn why you need an individual financial plan that dictates the right time to take social security rather than waiting until age 70.

In this episode, find out:

● How to know what your social security benefits will be through the ssa.gov website.

● The process of applying for social security once you know when to take it.

● Understanding how spousal benefits work in social security.

● The current youngest age that you can take your social security benefits.

● The things to consider when taking social security early to avoid penalties.

● The importance of having an advisor to help you think through the tax side of social security.

● Why it is subjective when it comes to the right time to take your social security.

Tweetable Quotes:

● “When you know when you want to apply for social security, you want to apply 3 months before.”- Murs Tariq

● “If you’re taking social security, don’t think that it’s tax-free and you want to make sure that you run an analysis and you’re working with an advisor to help you think through tax.”- Radon Stancil

Resources:

To access the course, simply visit POMWealth.net/podcast.

Roderick Spann – 5 Medicare Mistakes to Avoid Apr 18, 2022

Show notes

Are you aware of the things you can opt-in or not when it comes to your Medicare plan? It is important that you get enrolled in Medicare 3 months before turning 65 to avoid any delays caused by the existing backlog.

When it comes to Medicare, there’s part A which covers everything that happens in the hospital, and part B, which covers anything outside the hospital.

In this episode of the Secure Your Retirement podcast, we have Roderick Spann, a senior insurance specialist, talk about the 5 Medicare mistakes to avoid. Listen in to learn about the different parts of Medicare and the packages you can opt for.

In this episode, find out:

Understanding the Medicare initial enrolment period and why it’s important.
Understanding Medicare part B – insurance that covers anything outside the hospital.
Part D – the importance of analyzing your prescription drug coverage.
The original Medicare, what it covers, and the importance of having a Medicare supplement.
The difference between a Medicare Advantage plan and a Medicare supplement.
The benefits of comparing and understanding your retiree package plan and the Medicare plan.
Speak to a professional to give you unbiased advice tailored to your specific Medicare needs.
The process of getting enrolled into Medicare right before your 65th birthday.

Tweetable Quotes:

“Original Medicare only covers 80% of your medically necessary services.”- Roderick Spann
“Medicare is not one size fits all; a prescription plan that works for one person in one state or one specific zip code may not work for another person.”- Roderick Spann

Get in Touch with Roderick:

LinkedIn: https://www.linkedin.com/in/roderickspann/

Resources:

To access the course, simply visit POMWealth.net/podcast.

Bonds Versus Bond Alternatives Apr 11, 2022

Show notes

Have you heard of the 60/40 portfolio? This means that 60% of your investment money goes into stocks, and 40% goes into bonds.

This is fast changing in today’s world of high-interest rates, and the bond market is increasingly becoming hard. But how about a bond alternative?

In this episode of the Secure Your Retirement podcast, we talk about the changing world of bonds and the importance of bond alternatives. Listen in to learn why a bond alternative is supposed to provide the same goal as a bond, which is to lower risk and provide income.

In this episode, find out:

● The 60/40 portfolio and how it protects you from stock market volatility.

● How the high-interest rates are affecting the bond market negatively.

● A bond alternative is supposed to fulfill the same goal the bond was going to fulfill.

● Why fixed index annuities provide an excellent bond alternative.

● How we come up with a long-term bond alternative plan that’s safe, reliable, and not volatile.

● Bonds are not evil, but it’s important you think about bond alternatives.

Tweetable Quotes:

● “When interest rates go up, that affects bonds negatively.”- Radon Stancil

● “Everything about investing is purely about how you understand it, perceive it, and what your expectations are.”- Murs Tariq

Resources:

To access the course, simply visit POMWealth.net/podcast.

Evie Brooks - Real Estate Investing in Panama Apr 04, 2022

Show notes

Have you ever thought of investing in real estate outside of the US market, specifically in Panama? What if you learned that it’s a booming real estate market that’s only getting better?

Investing in Panama can be easy, affordable, and suitable for anyone planning to relocate to Panama or add to their real estate portfolio.

In this episode of the Secure Your Retirement podcast, we have Evie Brooks, an elite Real Estate Investment Educator, entrepreneur, and former Advanced Trainer for “Rich Dad Poor Dad”, who now specializes in Panama real estate for expatriates.

Listen in to learn why you need to invest in international investing education to avoid losing money to scammers.

In this episode, find out:

Evie on her career in real estate investing and her passion for educating on the subject.
Why she ended up in Panama for real estate investing and why it’s a good investing market.
The healthcare situation in Panama and why it’s way more affordable than the US.
How to invest in real estate projects in Panama and become an expert in the field.
How Evie and her team make investing in Panama easier for international investors.
Why you need education before investing internationally to avoid losing money to scammers.
The types of lifestyles to consider in Panama if you’re considering relocating.

Tweetable Quotes:

“Being able to invest in Panama is simple if you know where to go and who to contact.”- Evie Brooks
“Do it the right way and you won’t spend near what you would lose if you try to figure investing in Panama on your own.”- Evie Brooks

Get in Touch with Evie:

Website: https://eviebrookspanama.com/
LinkedIn: https://www.linkedin.com/in/eviespeaks/

Resources:

To access the course, simply visit POMWealth.net/podcast.

Our TOPPODCAST Picks

Follow Us

Stay Connected

Related Podcasts

Links

Stay Connected