Cover Your Assets KC Podcast

What strategies and pieces go into a retirement plan? Let’s talk through the puzzle of retirement planning today and how to solve it.   Read more and get additional financial resources here: https://www.coveryourassetskc.com/episode-149-retirement-planning-as-a-jigsaw-puzzle   What we discuss on this episode: 0:29 - Did David like doing jigsaw puzzles as a kid? 2:06 - How do you start the puzzle o...

Were you late to saving enough for retirement? Let’s talk through five areas where you may be able to make up the difference as a retirement savings late bloomer.   Read more and get additional financial resources here: https://www.coveryourassetskc.com/episode-148-5-opportunities-for-late-bloomers   What we discuss on this episode: 0:28 - What should David do with all his Halloween candy? 3:45 -...

Are you ready to give significantly but wondering what that will do to your taxes? Understanding your options ahead of time can go a long way when it comes to taxes.   Read more and get additional financial resources here: https://www.coveryourassetskc.com/episode-147-who-pays-the-gift-tax   What we discuss on this episode: 0:34 - David has a new grandson! 4:08 - Let’s talk about the gift tax. 5:4...

Who or what is listed as the beneficiary on your IRA? We get into various reasons for and against having a trust and how the most recent rules might affect how your estate plan is currently set up.   Read more and get additional financial resources here: https://www.coveryourassetskc.com/episode-146-should-your-trust-be-your-ira-beneficiary   What we discuss on this episode: 0:28 - David brainstor...

What tax consequences should you prepare for? We talk through the different accounts you may have and what kind of taxes to expect in retirement for each one.   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-145-tax-consequences/   What we discuss on this episode: 0:33 - Taxes are one of David’s favorite topics. 2:51 - What do you need to know about ta...

Are you and your spouse not seeing eye-to-eye when it comes to saving (or spending) in retirement? David shares his thoughts on how to improve the situation for this person and two others seeking financial advice.   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-144-mailbag-how-can-i-convince-my-husband-weve-saved-enough/     What we discuss on this ep...

There is a lot of buzz going around about infrastructure bills. How could they impact you? We talk about “how the sausage is made” in bills like these as well as how you can prepare for them.   Read and get additional financial information: https://coveryourassetskc.com/episode-143-do-the-new-infrastructure-bills-impact-your-financial-plan/   What we discuss on the episode:  1:04 - Financial discu...

We can all procrastinate at times. But when it comes to our finances we need to plan ahead.  David shares key areas in your finances you don’t want to put off addressing.   Read and get additional financial information: https://coveryourassetskc.com/episode-142-financial-matters-you-dont-want-to-put-off-2/   What we discuss on the episode:  0:29 - David has golf plans 1:30 - What financial matters...

If you have the option to contribute to a Roth 401(k), should you do it? In retirement, how can you be sure you won’t run out of money? David answers these questions and one more in today’s podcast.   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-141-mailbag-should-i-contribute-to-a-roth-401k/   Bank Tree Calendar: https://www.bankrate.com/retirement/...

Are you ready to become a millionaire? Let’s talk about how to make smart investments and make that goal a reality.   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-140-401k-millionaires/   Bankrate Calculator: https://www.bankrate.com/retirement/calculators/401-k-retirement-calculator/   What we discuss on this episode:  0:27 - Do you have a million d...

In celebration of Social Security’s recently passed birthday, let’s talk about four things you should know about it. How can you plan for Social Security as a part of your retirement plan?   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-139-happ…-social-security/   What we discuss on this episode:  0:33 - Happy Birthday to… Social Security! 2:28 - Abo...

Before you buy an annuity (or rule one out), what do you need to know? David outlines three questions that will help you determine whether or not an annuity aligns with your goals and financial plan.   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-138-3-questions-to-ask-before-you-buy-an-annuity/     What we discuss on this episode:  1:32 - What type...

Gas prices are up, buying a car is much more expensive, and groceries cost more. Is this something you should be concerned about? David shares more information about inflation and whether or not he thinks this is transitory.   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-137-is-inflation-transitory-or-here-to-stay/     What we discuss on this episode...

After listening to prior podcasts, listeners sent in questions for David to dive in deeper. We covered three questions in last week’s episode and cover two more today on today’s podcast.   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-136-mailbag-how-much-money-to-set-aside-for-medical-care/     What we discuss on this episode:  1:19 - Mailbag: How do...

When you get closer to the age of required minimum distributions, you may wonder what you need to do now to prepare. David answers two questions from the mailbag in this week’s podcast.   Read more and get additional financial resources here: https://coveryourassetskc.com/episdoe-135-mailbag-what-should-i-do-now-to-reduce-future-rmd-taxes/     What we discuss on this episode:  0:26 - It’s the dog...

Worried your money won’t last through your retirement? Just how much do you need and when can you retire? David talks through all of these things you must know if you are close to retirement.   Read more and get additional resources here: https://coveryourassetskc.com/episode-134-the-3-things-you-must-understand-if-retiring-in-3-5-years-part-3/     What we discuss on this episode:  2:19 - How long...

As you get closer to retirement, you likely want to make sure everything is in order, including your estate plan. David discusses what paperwork you should have in place and up-to-date. Read more and get additional financial resources here: https://coveryourassetskc.com/podcasts/ What we discuss on this episode:  3:09 - Should you have a trust?   5:42 - Do you have good beneficiary designations? 9...

What happens with your taxes in retirement? This is the first of our three-part series for what to do and how to prepare if you are three to five years away from retirement.   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-132-3-things-you-must-understand-if-youre-retiring-in-3-5-years-part-1/     What we discuss on this episode:  0:40 - Celebrating th...

529 plans are a great way to save away money for kids’ college. But it does take a little bit of time to understand the ins and outs of them. David talks us through the top five things to keep in mind with 529s.   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-131-5-things-grandparents-parents-need-to-know-about-529-plans/     What we discuss on this e...

Are you doing more summer vacation planning than financial planning? You’re not alone. Let’s talk about how you should view retirement planning in relation to your vacation plans.   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-130-only-1-in-4-americans-have-done-this/     What we discuss on this episode:  0:43 - Why vacation planning? 4:15 - Why does...

Is something going wrong if your IRAs aren’t making as much as you think they should? Or, how can you save for an upcoming wedding? David answers four questions from the mailbag.   Read more and get additional financial resources here: https://coveryourassetskc.com/episdoe-129-mailbag-why-arent-my-iras-making-much-money/     What we discuss on this episode:  1:02 - It’s mailbag time! 2:03 - Mailba...

Wondering if you need term life insurance? You probably do, so how and where should you get it? Find out on today’s podcast!   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-128-how-to-find-and-buy-term-life-insurance/     What we discuss on this episode:  0:33 - David got to be young at heart with some family recently. 2:54 - How do you get the best a...

If you understand the three worlds of money, you will have a better understanding of how financial planning works. So today, we’ll remove the financial terms and extra jargon in order to focus on the three worlds of money: banking, insurance, and Wall Street. They serve significantly different purposes, and it’s important to understand how each fit into your financial world.    Read more and get a...

Ready to put your retirement income knowledge to the test? Take this quiz and follow along on today’s podcast to see how you do.   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-126-whats-your-retirement-income-literacy/     Take the quiz here: https://www.surveymonkey.com/r/2020-retirement-income-survey     What we discuss on this episode:  0:56 - Cou...

Is paying off the house a worthwhile reason for taking Social Security early? Can life insurance create retirement income? David answers five very different questions from the mailbag in today’s episode.   Read more and get additional financial resources here: https://coveryourassetskc.com/episode-125-mailbag-should-i-take-social-security-early/     What we discuss on this episode:  1:34 - Mailbag...