2025 The Final Drive Podcast

In this episode, David shares insights from his recent trip to the Ed Slott Elite IRA Advisor Conference in California. Ed Slott - considered America's IRA Expert - released his latest book in June. The Retirement Savings Time Bomb Ticks Louder gives readers important information about the Secure Act 2.0, Charitable Gifting, Required Minimum Distributions and more... and David will highlight some...

On November 7, 2024, American's voted to elect Republican Donald Trump back to the White House for a second, nonconsecutive term - the first President to do so since Grover Cleveland in 1893.   In this latest episode, David is joined by Rod Holloway, Equity Portfolio Manager for CFCI, to discuss the the election and how the markets reacted to Trump's election. David and Rod also address government...

In 2001, Congress approved the 402A rule to the US tax code, allowing employees to designate a portion or all of their elective deferrals as Roth contributions within employer-sponsored retirement plans like 401(k) and 403(b) plans.  This designation means that employees pay income taxes on contributions upfront rather than when they withdraw the funds... or, in essence, paying tax on the seed ins...

With the Presidential election just days away, it's important to look at where the candidates stand on Social Security, the national debt and more.   In this episode, David Hays and guest Doug Hughes talk about financial control by Americans and by the US government. With the 2025 tax cuts up in the air, a lot is on the line for millions of people – David and Doug talk about the financial needs of...

We're back with a new season of 2025: The Final Drive! In this episode, David discusses the idea of "Bond Vigilantes" – when are countries going to stop buying American debt?  The US is nearing the point where it will spend more money on debt than defense spending.  Listen to David talk about how the US got out of debt after World War II and what the next President will need to do about the nation...

A silver tsunami is coming this year, as more than four million Baby Boomers turn 65 in 2024.   In the episode, David shares about some of the top IRA rulings for 2023, the importance of emergency savings, federal estate taxes, what listeners can expect this year as part of the SECURE Act… and the possible benefits of moving to Florida. Grab a slice of pie (there's a reason for that teaser) and en...

With 2023 ending in just a few weeks, David has a few things to consider regarding taxes. Mutual fund gain distributions, tax penalties, lost harvesting, wash sale rules and phantom gains are all touched on in the podcast. Take the time to listen and take necessary action before the end of 2023! https://www.cfci.us/2025-the-final-drive

With the end of 2023 just weeks away, many people are looking to pay the taxes on a Roth IRA conversion… but what is the best way to do so?  This week David will offer some different ideas, including paying out-of-pocket or taking a 401k loan. Listen in to hear some options on minimizing the pain of paying those taxes now… and remember the pain later could be a lot worse. https://www.cfci.us/2025-...

Depreciation may sound like a bad thing to some people, but it can be a benefit when it comes to finances.  On this episode, David Hays welcomes Martin James, CPA, back to discuss various aspects of depreciation on property, the differences in active versus passive real estate investing, land leases and the potential tax benefits of loans. https://www.cfci.us/2025-the-final-drive

Description – Debt is a part of life for many people, and it's always important to manage your debt appropriately.  On this episode, David and Marty James, CPA, discuss the benefits of having cash available versus using credit, as well as the importance of having a steady income stream in retirement.  David and Marty also share about the potential benefits of doing a Roth IRA conversion in prepari...

Marty James, CPA, is back on the podcast to share about potential incentives Americans can take when purchasing a "clean vehicle," aka an electric car or truck.  Did you know that if you are making a purchase of a clean vehicle, your MAGI – Modified Adjusted Gross Income – could impact the incentive credit?  Marty and David will have the details on the incentives… https://www.cfci.us/2025-the-fina...

For Americans planning to retire before becoming eligible for Medicare, there can be challenges in finding affordable health care. In this episode, David welcomes Martin "Marty" James, CPA, to the podcast to discuss potential ways to minimize the impact of higher-cost insurance. https://www.cfci.us/2025-the-final-drive

Join David as he discusses how the IRS is affecting your retirement accounts. They are hungry and guess who is going to feed them....your money. David explains why moving your IRA into a Roth account will prevent your children from being taxed considerably when they inherit your IRA; thus preventing the IRA from feeding on your children through taxes. Coming up in our next episodes we will have Ma...

There are 3 years left until the end of the 2017 tax cuts. Let's focus on what we can do this year of 2023. As the advisor, I have an action plan for you regarding your retirement and estate planning opportunities.  Timing is everything. How can you take advantage of up to a $5,000 catch up?  Inflation adjustments and more explained in this episode. https://www.cfci.us/2025-the-final-drive

David is back in the studio! After taking a step back he is ready to discuss again, the importance of planning for 2025. We begin this episode with Tax Free Bonds.  Are tax free bonds really tax free? Who should even consider tax free bonds, and how do coupons work when purchasing a bond? Find answers to these important questions and more in this episode.  https://www.cfci.us/2025-the-final-drive

What's the answer to the looming Social Security trust fund being exhausted? In Short, more taxes!  Join David to discuss how to avoid being part of the solution and what are they likely to do, or could do, to fix Social Security.  https://www.cfci.us/2025-the-final-drive

This episode David discusses more about the Secure Act 2.0. Specifically, he will be talking about Qualified Longevity Annuities and what  changes in the Secure Act make this, rarely used tool, more attractive. What is a  Qualified Longevity Annuity (QLAC), and w hy would now be a good time to consider one? https://www.cfci.us/2025-the-final-drive

If you are still working and want a clever way to pay the tax on your Roth conversions in a less painful way, join me today in our new episode. With S&P down around 18%, is this the best time for that Roth conversion for 2023 now, or should you wait?   All the things you should be doing now, to make your retirement in the future brighter. https://www.cfci.us/2025-the-final-drive

Congress just passed the new 2.0 Secure Act!   What does this mean for 2025?   How will this affect our retirement account rules?   Have you considered the change this could bring to your children's 529 Plan?   Why are required minimum distributions starting at 75 when we need the money now?   Is this increasing again in 2033?   The peak of the baby boom occurred around 1962, which brings them to...

Is Life Insurance a better Investment than an IRA? What a great topic starting off the New Year! While life insurance is a protected class in the Internal Code, it is also tax free. How does this happen? The advantages of a life insurance policy include a death benefit for your children - leaving a legacy, cash value grows, borrowing against a life insurance policy, and it grows tax free. When loo...

Let's look at Installment Sales: How do you structure them? What makes sense? What's good for the buyer might not be good for the seller. This episode discusses 2 things: Selling A Business and Selling Real Estate. We want to minimize that awful tax bite. Did you know what's  taxable to the seller may not be favorable for deprecation for the buyer? We've discussed tax deferred exchanges in a previ...

Are you wondering what to do with your Estate Planning before 2025?    What are the benefits of an Estate? Life Insurance? IRAs? Business?   The simple answer:   Everything!   In this episode I get into the ins and outs of your Estate Planning and how to navigate the upcoming changes. https://www.cfci.us/2025-the-final-drive

Act Now!   The ability to take your Required Minimum Distributions (RMDs) and Qualified Charitable Distributions (QCDs) end on Dec 31st!   In this episode I lay out 5 easy steps on how to calculate your RMD total and how to navigate your QCDs. Remember QCDs can be made from an inactive SEP, Simple IRA, or Roth account.   As the Holidays are upon us, I enjoy discussing Gift Giving Ideas for the who...

What is a Net Unrealized Appreciation (NUA)? How does this affect your portfolio? Just this week, I had a guy come into the office with an NUA from his previous employer. Listen in to learn what we did with it. We discuss calculating NUA in 5 easy steps and when you should consider even using an NUA.                                                           More 5 easy steps to come and I give you...

As we stated in last week's episode - taxes are going up.   I am already getting mutual Fund estimates and get this - one of them is facing a downward spiral of 29.1%!    How can we get ahead of these small caps changing?   Don't let a good loss go to waste.   It gets better though, if you are over 50 years of age you can begin saving more money!   What are the ordering rules and are you withdrawi...