The Fit Financial

Episode 159: Why Your 401(k) Balance Won't Tell You If You're Ready to Retire (The Paycheck Test) You've spent decades building your 401(k), but how do you know when you actually have enough to retire? Maybe you've reached $1 million in retirement savings. Maybe you're getting close to the number you've always had in mind. But here's what your 401(k) statement can't tell you: Will that money provi...

$10,000/Month Retirement Income From $1.5 Million: The Real Math, the Real Plan (Taxes Included) Can $1.5 million in retirement savings really provide $10,000 a month in retirement income? If you're approaching retirement and wondering whether your savings can support the lifestyle you've worked so hard for, this episode is for you. Withdrawing $120,000 a year from a $1.5 million portfolio means a...

The Hidden Tax Mistake That Could Cost Retirees $400,000 (And How to Avoid It) Could you be paying more in retirement taxes than you need to—simply because you waited too long to start planning? Many people spend decades saving for retirement, but overlook one important piece of the puzzle: how their retirement income will be taxed once they stop working. As Social Security benefits, required mini...

We’re 62 With $1.8M—Can We Retire This Year and Keep Our Lifestyle? Having $1.8 million saved for retirement sounds like a lot of money—but does it actually mean you can retire? The better question isn’t simply “How much do we have?” It’s “How much can our savings safely provide each month, after taxes, while allowing us to maintain the lifestyle we want?” In this episode of The Fit Wealth Show ,...

Maxing Out Your Retirement Accounts (and Go Beyond the 401(k))   Episode Overview   You’ve probably heard it before: “Max out your 401(k).”   But for high earners — especially business owners and entrepreneurs — that’s just the starting line , not the finish line.   In this episode, Amanda kicks off our Year-End Tax Strategy Series by breaking down how to use advanced retiremen...

Tax Strategy vs. Tax Preparation Explained   In This Episode   We’re breaking down the difference between tax strategy and tax preparation — and why that difference could mean six figures in savings over your lifetime.   Many people think they “have a tax plan” because they have a CPA.    But here’s the truth:   Tax preparation is what happens in the spring — you hand...

Does your financial advisor ask to review your tax return every year? If not, you could be missing valuable financial planning opportunities.   Most people think of their tax return as something to file away once tax season is over. But your tax return is much more than a record of what happened last year—it's one of the most valuable planning tools for making smarter financial decisions goin...

Accidentally contributed too much to your IRA? Don't panic.   It's one of the most common retirement planning mistakes we see, and in many cases, it's completely fixable, if you know what to do.   Whether you received a raise, earned an unexpected bonus, sold a business, or simply didn't realize you exceeded the IRS contribution limits, making an excess IRA contribution can happen to any...

The Financial Shift Every Woman Needs To Be Prepared For  For generations, many women were taught that someone else would handle the finances. But today's reality is very different.   Women are living longer, inheriting more wealth, building successful careers and businesses, and increasingly becoming the primary financial decision-makers in their families. Whether through retirement, wi...

If You’re Making $1M+ in Your Business — Here’s What You Should Be Doing With Your Money   Most business owners spend years focused on growth.   Growing revenue. Growing income. Growing the business.   But eventually the conversation changes.   Once income is no longer the biggest problem, the real questions become:   How should I structure th...

Why Gold Is Shining Again — and When It Actually Makes Sense to Own It   Episode Summary   Gold is glimmering again — hitting all-time highs and grabbing investors’ attention. But what’s really driving it? And should you jump in?   In this episode, Amanda talks with Shawn on breaking down:   Why gold prices are soaring right now   When investo...

The Silent Fear: Will I Run Out of Money?   You’ve built wealth, worked hard, and invested wisely—so why does the quiet fear of running out of money still creep in? In this episode of The Fit Financial Podcast , Amanda and Shawn Hanquist unpack one of the most common (but rarely talked about) worries: whether your money will last as long as you do.   What we talk about:   Why even s...

5 Smart Tax Moves to Make Before Year-End   The end of the year isn’t just about holidays and celebrations — it’s also the deadline for some of the most important tax planning opportunities. And if you’re between the ages of 45 and 65, the choices you make now can set you up for more income, more flexibility, and fewer tax headaches in retirement.   In this episode, we’re unpacking five...

Episode Show Notes: What Is Your Real Financial Freedom Number?   Have you ever wondered: “Am I actually doing enough with my money to feel secure?”   You might be saving, investing, and checking all the right boxes — but that nagging question still lingers: What’s my number?   In this episode of The Fit Financial Podcast , Amanda Hanquist breaks down the concept of your Financial F...

Episode Title: Asset Allocation vs. Asset Location: The Retirement Planning Strategy Most Investors Miss   Episode Summary   Most people have heard of asset allocation — the mix of stocks, bonds, and investments in a portfolio. But almost no one talks about asset location — where those investments are held (taxable, tax-deferred, or tax-free accounts).   Here’s the truth: You can ha...

Episode Title: Are You On Track for Retirement? Benchmarks, Rules of Thumb, and Your Real Number   Episode Summary   If you’re in your 40s, 50s, or 60s, you’ve probably wondered: “Am I saving enough for retirement?” Maybe you’ve even Googled it and seen benchmarks like 3× your salary saved by 40, 6× by 50, or 10× by 60. But what do those numbers really mean — and do they apply to your li...

How Much Should I Have in Real Estate vs. Investments?   Episode Description:   Real estate or stock market?   It’s one of the biggest debates in the world of wealth building — and everyone’s got an opinion.   In this episode, we break down the real conversation high-income earners should be having:   What’s the right balance between real estate and traditional investments...

IULs as Retirement Plans: Smart Strategy or Sales Trap?   Episode Description (Show Notes):   You've probably seen the pitch:   "Tax-free retirement!"    "Be your own bank!"    "Never lose money in the market again!"   In this episode, we're diving deep into one of the most aggressively marketed financial tools right now — Indexed Universal Life insurance (I...

🎙 Episode Title:   Should You Take Social Security at 62? Why Waiting Isn’t Always the Best Strategy   Episode Summary:   The advice to "wait as long as possible" to collect Social Security might look good on paper — but for many business owners and pre-retirees, that strategy can backfire.   In this episode of The Fit Financial Podcast , Amanda and Shawn unpack why taking Soci...

Episode Notes:   Artificial intelligence (AI) is changing how we work, live, and do business — but what does that mean for your income, your business, and your long-term financial security?   In this episode of The Fit Financial Podcast , Amanda and Shawn Hanquist break down how AI may impact your career, your wealth, and your ability to stay ahead financially — especially if you're a bu...

Episode Title:   Does Homeowners Insurance Cover Flooding? What You Need to Know Before the Next Storm   Episode Description (Show Notes):   With flooding on the rise across the U.S. — and many homeowners learning too late that they’re not actually covered — this episode of The Fit Financial Podcast couldn’t be more timely.   Shawn and Amanda Hanquist break down what your homeo...

Episode Overview   The latest tax bill making its way through Congress is creating a lot of uncertainty for business owners, high-income professionals, and families trying to plan their financial future.   In this episode of The Fit Financial Podcast , Amanda and Shawn break down what’s happening with the proposed tax legislation — including the One Big Beautiful Bill (OBBB) — and what y...

👋 Welcome   Welcome to The Fit Financial Podcast . I’m Amanda Hanquist, and together with my husband Shawn, we help high-income earners and entrepreneurs grow and protect their wealth—while building a life they can actually live with.   In today’s episode, we’re exploring a moment we see often: your career is thriving, your assets are growing… but something feels off. You’re starting to...

Your Roth Strategy Might Be Too Small   Think Roth IRAs don’t apply to you because you’re a high earner? Think again.   In this episode, Amanda breaks down why your Roth strategy — not just your contribution — might be the most underutilized piece of your long-term wealth plan. From Roth conversions to backdoor Roths to stacking tax-free income for the future, this episode gives you the...

How We Build Wealth Together as Married Entrepreneurs )   Marriage. Business. Money.   Mixing all three isn’t always easy—but it can be powerful.   In this special anniversary edition of The Fit Financial Podcast , I’m sitting down with my husband (and business partner!) Shawn to reflect on how we’ve grown together—not just as a couple, but as co-creators of our family’s wealth. &nb...