🎃 After some fall 🍂 and creepy Halloween chat 👻 (courtesy of Mike's kids), we discuss various “safe” money options that may be on your radar, and which might be best for YOU! Retirement planning can feel like a daunting task, especially when the economic landscape seems uncertain. 

With interest rates on CDs, money market accounts, and Treasury yields showing promise, the question arises: Should you consider annuities or explore alternative options? Mike and Kristen dive into the pros and cons of annuities and explore the potential benefits of Treasury bonds as a safer investment choice for retirees.

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As we approach retirement, financial decisions become increasingly crucial. One is whether to convert your traditional IRA or 401(k) into a Roth IRA. Based on a recent live event attendee's question, Mike and Kristen discuss the complexities of Roth conversions and help you understand whether it's the right choice for your unique financial situation. 

➡️ The Allure of Tax-Free Retirement Income: Roth IRA conversions have gained popularity due to the promise of tax-free income during retirement. The concept is enticing: you pay taxes upfront when you convert your traditional retirement accounts, and then your withdrawals in retirement are entirely tax-free. Who wouldn't want that? However, the decision to convert isn't one-size-fits-all, and there are crucial factors to consider. 

➡️ Understanding Roth Conversions: Roth conversions involve transferring money from a pre-tax retirement account to a Roth IRA. While this may sound straightforward, it's essential to grasp the tax implications. When you convert, the amount transferred is treated as ordinary income, subject to your current income tax rate. Therefore, your tax bracket plays a pivotal role in the decision-making process. 

➡️ Tax Bracket Considerations: Your tax bracket impacts the cost of conversion. If you're already in a high-income tax bracket, converting may mean paying a significant amount in taxes upfront, potentially diminishing the benefits of a Roth IRA. Conversely, if you're in a lower tax bracket, a conversion could be more tax-efficient. 

➡️ Timing Matters: Timing is crucial when considering a Roth conversion. It might make more sense to convert when you expect to be in a lower tax bracket, such as after retirement or during years with reduced income. Assess your future income projections to determine the most tax-advantageous time for conversion. Is a Roth IRA conversion right for you? The answer depends on your individual circumstances. It's crucial to gather information, assess your financial goals, and consult with experts who can help you make an informed decision. Reach out to professionals who can guide you on this journey and ensure that your retirement strategy aligns with your unique needs and aspirations. 

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🔔Subscribe to our podcast on your preferred platform to learn more about all things portfolio management.   

📺 Watch our weekly YouTube show / @guardingyournestegg

🧑‍💻 For a free financial plan or to talk to an advisor, Click here.

👥 Connect with us on Facebook https://www.facebook.com/talonwealth/

See omnystudio.com/listener for privacy information.

Did you know that writing out your goals makes you 42% more likely to achieve them? 🤔

This week Mike explains the significance a written financial plan can have on your future. Whether a physical document or digital, a written plan helps you analyze thoughts, set clear goals, and outline solutions for the most secure retirement possible.

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🔔Subscribe to our podcast on your preferred platform to learn more about all things portfolio management.

📺 Watch our weekly YouTube show / @guardingyournestegg

🧑‍💻 For a free financial plan or to talk to an advisor, Click here.

👥 Connect with us on Facebook https://www.facebook.com/talonwealth/

See omnystudio.com/listener for privacy information.

It’s no secret that mortgage rates have surged to the highest levels they’ve been in more than 20 years. Mike explains the impact this could have on soon-to-be and current retirees AND the role a financial advisor should play in your life if you’re thinking about taking out a loan for a new 🏠 or vacation home. 

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This week Mike explains the transition from receiving a regular paycheck from your job to begin tapping into your retirement accounts like 401(k)s, IRAs, and pensions when you stop working. Listen to find out how money flows from these accounts to your bank, what role taxes play, and if you can pull it off as a DIY investor… 🧐 Or do you need a financial advisor? 

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If you’re paying a financial advisor a fee to manage your money, what else should they be able to help you with? Mike shares his ✅-list based on the countless questions he’s been asked about investing and retirement in general during the last 2-plus decades as an advisor.

🚨Spoiler alert: Income Planning is simply one component of many that is key.

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After Mike straightens Kristen out on a “fun fact” that he thinks is a “false fact” about the summer heat ☀️, we discuss a concern many Americans ponder: 

❓How do we make sure we’re not going to be taken advantage of when it comes to our money for retirement? 

After Bernie Madoff became a household name in 2008, stories of investment advisors NOT being good stewards of their client’s assets have heightened that concern. After discussing a recent ruling against a major bank, Mike shares actionable steps investors can take to help verify if they can feel comfortable working with a fiduciary financial advisor they choose... Because with so much retirement planning advertising, sometimes it's tough to know where to turn for help with 401(k) accounts, IRAs, and other assets.

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This week Mike’s degree in economics from 🐊The University of Florida and being a fiduciary pay off, because some of the “nomics” we’re hearing don’t make sense. If you’ve been scratching your head lately about America's numbers, wall street, and things just feeling off… It’s not just you. Mike explains why all of the options are worth you looking into for your investments for retirement, including possibly using structured notes as part of your portfolio… Depending on your situation.

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Regardless of the tax bracket, many Americans seek ways to save money and not pay full price. Made-up marketing holidays such as Amazon Prime Day 📦 on July 11th & 12th (along with competitors such as Walmart, Best Buy, and Target following suit in some fashion) seem to make that desire to save “easier.” This week Mike and Kristen discuss the difference between getting a deal, versus getting a deal on something you need, and how the same hype can be found in some of the marketing of various financial products, along with what to watch out for concerning your investments and accounts for retirement. 

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