Joe Knows Retirement

When it comes to estate planning, it might be hard to know where to start. Do you need a will? How about a trust? In this episode of Joe Knows Retirement, Joe talks about nearly every estate planning document you can come across and explains whether or not they might be good documents for you to have in your estate plan. Are you interested in applying to receive expert help in planning for your fi...

Have you ever thought about having your kids work with your financial advisor? Well as Joe explains in this episode of Joe Knows Retirement, it could be a good idea. From minimizing headaches when you're estate is passed on to maintaining continuity of your values with your wealth, Joe discusses it in this episode. Are you interested in applying to receive expert help in planning for your financia...

In this fun episode of Joe Knows Retirement, Joe joins Mindy Drayer to talk about Peak Retirement Planning and the amazing growth it's seen over the past couple years. He shares about Peak's humble beginnings, as well as answers questions like, "What are some good tax-free investment options?" Are you interested in applying to receive expert help in planning for your financial future? If so, you c...

Investing can be overwhelming, and if you don't do it properly, you could end up paying more in taxes than you need to. In this episode of Joe Knows Retirement, Joe explains tax location investing and uses buckets to illustrate the different types of investments. He shares how to optimally invest in each bucket so that you pay as little in taxes as possible and get as big of a return as possible....

If you're near retirement, you might imagine retiring as early as you can at 59.5. In this episode of Joe Knows Retirement, Joe explains how this could be a possibility for you and shares reasons why it might be a good idea. He also shares other aspects to be aware of when retiring early, including potential costs and potential changes to the financial legacy you leave behind. Are you interested i...

Some retirees who try to DIY their retirement plan might seek out a one-time plan from a financial advisor. But while one-time plans can be helpful, they're not typically as helpful as ongoing plans. In this episode of Joe Knows Retirement, Joe shares the reasons why one-time plans might leave you needing more, and how ongoing plans might instead help provide the comprehensive care you're looking...

Pensions are a huge asset to have in retirement, but they can also make tax planning trickier. In this episode of Joe Knows Retirement, Joe shares five reasons why doing a Roth conversion can be helpful if you have a pension in retirement. From causing you to be in a higher tax bracket to making you pay increased Medicare premiums, pensions can affect all sorts of things in retirement, so Roth con...

The widow's penalty can have major consequences on your retirement if you don't plan for it. In this episode of Joe Knows Retirement, Joe explains how the widow's penalty can impact your finances, and shares an example that shows the huge difference planning can make when it comes to dealing with the widow's penalty. Are you interested in applying to receive expert help in planning for your financ...

Working with a fiduciary in retirement planning is important, but is it enough? Fiduciaries are professionals who are obligated to work in your best interest. In this episode of Joe Knows Retirement, Joe discusses why, based on that definition, working with someone who is just a fiduciary may not be sufficient to help you access all the best resources in retirement planning and make sure you're pl...

Out of the five pillars of retirement planning, tax planning is the most central and most important. In this episode of Joe Knows Retirement, Joe explains the importance of tax planning and dives into each of the other four pillars of retirement planning to explain how tax planning is involved. Are you interested in applying to receive expert help in planning for your financial future? If so, you...

In this episode of Joe Knows Retirement, Joe is on the radio to talk all about retirement and Peak Retirement Planning. He answers questions like, "What kind of prep work goes into retirement planning?" and "What is a Midwestern Millionaire?", as well as other important retirement planning topics. Are you interested in applying to receive expert help in planning for your financial future? If so, y...

An annuity is an investment tool that is great for some people and not so great for others. In this episode of Joe Knows Retirement, Joe shares everything you need to know about annuities, including the different types of advisors who might try to sell you annuities, the different types of annuities, and who annuities might be a helpful option for. Are you interested in applying to receive expert...

Retirement is a time of relaxation and enjoyment, but it can also be time of worry. Two of the biggest worries retirees have is paying more than they need to in taxes and losing money in their investments. In this episode of Joe Knows Retirement, Joe discusses these legitimate concerns and provides some ways you can address them to help lessen your worry and make your retirement more enjoyable. Ar...

Sometimes, financial advisors give advice that isn't helpful, or worse, say things that just aren't true. In this episode of Joe Knows Retirement, Joe shares eleven things he has heard financial advisors say that either aren't true for everyone or aren't true at all. From Roth conversions to income plans in retirement, Joe discusses it in this episode. Are you interested in applying to receive exp...

IRMAA, or Medicare premiums, could end up costing you thousands in retirement if you have a high net worth and don't plan properly. In this episode of Joe Knows Retirement, Joe discusses the hidden cost of Medicare premiums, the factors that affect it, and the strategies you can use to keep costs as low as possible. Are you interested in applying to receive expert help in planning for your financi...

It's easy to give advice when it comes to retirement planning, but it's not easy to give good advice. In this episode of Joe Knows Retirement, Joe gives you six reasons why you should be careful when taking retirement planning advice from friends, peers, and other non-professionals. From not having the experience and resources a Certified Financial Planner™ has to not being obligated to work in yo...

In this episode of Joe Knows Retirement, Joe is on the radio with Mikaela Hunt to talk about retirement and long-term financial planning. He answers questions like, "How do you approach long-term healthcare planning?" and "What does the process of meeting with a financial planner look like?", as well as other important retirement planning topics. Are you interested in applying to receive expert he...

When it comes to your retirement, you deserve more than cookie cutter advice. In this episode of Joe Knows Retirement, Joe shares four questions you can ask yourself to see if your current financial planner is providing cookie cutter service and consider whether it might be a good idea to find a planner who provides more comprehensive service. Are you interested in applying to receive expert help...

What's the difference between an insurance-only financial advisor and a fully licensed fiduciary financial advisor? As Joe discusses in this episode of Joe Knows Retirement, there are quite a few differences, especially when it comes to the services the financial advisor can provide. Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply a...

A common question we get asked is "Why does my CPA not do tax planning?" In this episode of Joe Knows Retirement, Joe answers that question, explaining the difference between tax planning and tax prep and stressing the importance of working with a collaborative team to maximize your tax savings. Are you interested in applying to receive expert help in planning for your financial future? If so, you...

Life insurance is important, but is it something you really need in retirement? In this episode of Joe Knows Retirement, we discuss five reasons why having life insurance in retirement could be a good idea. These reasons include expected pros like the monetary benefit you receive, but also include more nuanced benefits like the tax and asset diversification that can come with life insurance plans....

Did you know that long-term care can cost you up to $100,000 in retirement? In this episode of Joe Knows Retirement, Joe talks about how much you could expect to pay in long-term healthcare costs in retirement and shares six strategies you can use to help pay them. Genworth study: https://www.genworth.com/aging-and-you/finances/cost-of-care/cost-of-care-trends-and-insights Are you interested in ap...

Even with a high income, it can be easy to fall into poor spending and saving habits that lead to debt. In this episode of Joe Knows Retirement, Joe shares about a client who found themselves in that situation, and the practical steps he walked through with them to help them develop better habits and set themselves up better for retirement. Are you interested in applying to receive expert help in...

If you're charitable-minded and in or near retirement, there are several strategies you can use to help maximize your givings and minimize the amount you pay in taxes. In this episode of Joe Knows Retirement, Joe shares four of these charitable planning strategies and explains which one might be best for you based on your age, goals for retirement, and geographic location. Are you interested in ap...

If you're debating whether or not you should get a second opinion when it comes to your retirement planning, you probably should. The least it can do is affirm that your retirement plan is headed in the right direction, but the most it can do is illuminate potential blind spots in your plan and even set you on a new trajectory towards savings and success. If you're interested in applying to receiv...