Joe Knows Retirement

Thinking about handling your retirement plan on your own? Before you decide, take this quick 4-question DIY retirement quiz to see if you're really good to go or if you could be leaving money, time, and peace of mind on the table. Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply at https://peakretirementplanning.com/schedule-a-meetin...

You've saved $1M+ but what's next? In this video, we explore the emotional side of retirement: finding purpose, knowing how to give, gift, and spend with meaning, and planning for your spouse, kids, and grandkids. Retirement isn't just about money, it's about living with freedom, joy, and peace of mind. Are you interested in applying to receive expert help in planning for your financial future? If...

Tax-loss harvesting is a simple investment strategy that can help you save money and offset costs over time. In this episode of Joe Knows Retirement, Joe explains what tax-loss harvesting is, shares why it can be useful, and lists the types of retirees it might make most sense for, like those with a lot in non-retirement accounts and those with a pension and $1 million or more saved. Are you inter...

Many retirees choose to DIY their retirement, but they may not know what they're getting themselves into. In this episode of Joe Knows Retirement, Joe shares 10 things all retirees should know about if they want to DIY their retirement, especially if they have a pension and $1 million+ saved. From proper tax and investment diversification to having the right estate planning documents in place, Joe...

Many retirees with a pension have the option to take a lump sum payout instead of the monthly payout, but which option is better? In this episode of Joe Knows Retirement, Joe does the math and shares his expert opinion on which option he typically advises clients to go with. He breaks down the pros and cons of each option, and shares retirement planning guidance you'll want to keep in mind regardl...

The One Big Beautiful Bill introduced a bonus deduction for those 65 and older that might change the way you do your tax planning. In this episode of Joe Knows Retirement, Joe breaks down the changes that have come with the new bonus deduction, and talks about how you can plan for these changes depending on your financial situation, especially if you have a pension and $1 million or more saved. Ar...

As one of the five pillars of retirement planning, income planning is an essential part of any retirement plan, yet many retirees---especially those with a pension and at least $1 million saved---make some very common mistakes when doing it that end up costing them. In this episode of Joe Knows Retirement, Joe shares six common income planning mistakes Midwestern Millionaires make and explains wha...

If you have a pension and $1 million or more saved, you want to get the most out of the retirement you've worked so hard for. That's why in this episode of Joe Knows Retirement, Joe shares five things you can do to set yourself up for success in retirement. From tax planning to purpose planning, Joe dives into it in this episode. Are you interested in applying to receive expert help in planning fo...

Medicare premiums can be a sneaky cost for many retirees, especially those with a pension and $1 million or more saved. That's why in this episode of Joe Knows Retirement, Joe shares how you can potentially save $10,000 in Medicare premiums by being tax-smart and doing proper planning. He shares Roth conversion strategies for different financial situations, and also talks about when it might be mo...

It's common to hear that you'll be in a lower tax bracket in retirement, but that likely won't be the case if you're part of the 2% Club, which means you're retiring with a pension and $1 million or more saved. In this episode of Joe Knows Retirement, Joe shares why members of the 2% Club should expect to be in a higher tax bracket in retirement, as well as offers strategies they can use to increa...

The 4% Rule and Guardrails income strategy are helpful tools for many retirees when it comes to income planning in retirement, but as Joe explains in this episode of Joe Knows Retirement, if you have a pension and $1 million or more saved, they might not be adequate for your financial situation. Instead, Joe lays out tailored ways members of the 2% Club can build an income plan and give their mone...

Should you stay or should you go? In this episode of Joe Know's Retirement, Joe provides a comprehensive breakdown of the costs and tax rates across different states to help you decide if you should move in retirement. He looks at different considerations including estate planning and tax planning, shares a case study, and breaks down the five most and least popular states to retire to. Are you in...

Have you ever been invited to a nice steak dinner where you were told that you need a life insurance retirement plan (LIRP)? In this episode of Joe Knows Retirement, Joe talks about why most Midwestern Millionaires (those with a pension and $1 million or more saved) don't need a LIRP, especially for tax-free income. He also shares reasons why it could make sense to get a LIRP like when not comes t...

If you've thought about Roth converting all the way into the 32% bracket, you might want to think again. In this episode of Joe Knows Retirement, Joe talks about why Roth converting into the 32% bracket might not be a good idea, especially if you have a pension and $1 million or more saved. He shares different considerations that should go into your decision to Roth convert, as well as dives into...

If you're between the ages of 55-63 and will retire with a pension and $1 million or more saved, this video is for you. In this video, Joe talks about the two Roth conversion sweet spots that you'll want to pay attention to during this unique time before you retire. He talks about how many retirees in your shoes should expect to be in a higher tax bracket in retirement, and shares ways to take mos...

The One Big Beautiful Bill introduced many changes when it comes to taxes and retirement, and one of those changes is an additional $6,000 deduction for those who are 65 and older. In this episode of Joe Knows Retirement, Joe explain how this bonus deduction works and how it can affect your retirement planning, especially if you have a pension and at least $1 million saved. He also talks about how...

The One Big Beautiful Bill (OBBB) is here and will have a big impact on many Americans, especially retirees with a pension and $1 million or more saved. In this episode of Joe Knows Retirement, Joe talks through 14 of the most important points from the OBBB and shares how they can impact your retirement. From lower tax rates to the increased standard deduction to other types of deductions, you'll...

Widows and single retirees can face unique and harsh tax situations in retirement that can be devastating if not properly planned for. In this episode of Joe Knows Retirement, Joe talks about the widow's penalty and how it can make widows pay nearly double the amount in taxes that they paid when married filing jointly. He talks about the different areas of retirement the widow's penalty can affect...

If you're retiring with a pension and $1 million or more saved, you're set up for success in retirement. But as Joe shares in this episode of Joe Knows Retirement, there are some common mistakes that retirees in your position make that can cost you time and money if you don't plan for them. Whether it's paying more in taxes than you need to or not understanding how much money you really have, Joe...

If you have a pension and $1 million or more saved, there are unique issues you need to plan for in retirement. In this episode of Joe Knows Retirement, Joe shares five traps that members of the 2% Club commonly fall into and what they can do to avoid the traps. He provides strategies to help save money in taxes and Medicare premiums, as well as talks about the importance of giving purpose to your...

Just because you've worked with a financial advisor for a while doesn't mean they're the best advisor for you. In this episode of Joe Knows Retirement, Joe lists ten things to be on the lookout for when finding an advisor, or if your current advisor doesn't do these things, ten things to look for in a new advisor. From the type of planning services the advisor offers to the amount of time they're...

Your pension can increase your tax burden in retirement if you don't plan properly. In this episode of Joe Knows retirement, Joe talks about how a pension and high net worth can affect taxes, and shares strategies for lowering your tax burden and increasing your tax savings. Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply at  https:...

Have you ever considered the value of your pension as it relates to your overall net worth? In this episode of Joe Knows Retirement, Joe talks about pensions as an asset class and how you can view your pension as more than just a monthly income stream. He shares the pros and cons of having a pension and talks about ways you can give your pension purpose in retirement. Are you interested in applyin...

If you're a Christian and it's important for you to incorporate your faith into your financial planning, then it could be a great idea to work with a Certified Kingdom Advisor® (CKA®). In this episode of Joe Knows Retirement, Joe explains what a CKA®, what it takes to earn the CKA® credential, and how a CKA® can help you as you purposefully plan your retirement. Are you interested in applying to r...

If you're a Midwestern Millionaire, you might face unique challenges in retirement, but as Joe discusses in this episode of Joe Knows Retirement, they shouldn't be as scary as they seem. From the fear of running out of money to the fear of overpaying in taxes, Joe addresses these fears and shares how to plan for them. Are you interested in applying to receive expert help in planning for your finan...