Dolphin Financial Radio

Research is proving that being grateful can improve your finances and increase your longevity. In this show we discuss some research around how practicing gratitude may be a "simple" way to improve your chances of having a successful retirement.

The Social Security Fairness Act of 2023 just passed House and was sent to the Senate. It looks like this big change to Social Security will pass the Senate and land on President Biden's desk for signature. This law would eliminate the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP), which impacts millions of Americans. H.R.82: https://www.congress.gov/bill/118th-...

Now that Donald Trump has been elected for a second term, the tax landscape is more clear. In this show we discuss the changes (or lack thereof) to the tax situation expected during the next four years of a Trump presidency.

Many people feel that Presidential elections result in drastic changes in the economy and personal finances. Does this mean you should adjust your major financial plans, such as retirement, based on election outcomes? In this show we talk about the adjustments one might consider during a Presidential election.

Toward the end of 2024, there has been a lot of talk about an upcoming "Lost Decade" for the US Stock market. This is where the stock market performs relatively poorly for a full ten year period, much like the decade from 2000-2010 in which the S&P 500 index was negative. What strategies should those approaching retirement consider under these circumstances?

If you can afford to pay for your grandchild's or child's college education, should you do it? In this show we talk about the reasons why paying for college might not be the "best" decision financially and socially/emotionally.

Has it become cheaper to rent than to buy and own a home in retirement? In this show we discuss some of recent conditions that are suggesting renting might actually be cheaper. We also discuss the biggest factor in this decision - home equity.

Natural disasters can be financially devastating. In this show we discuss the tax relief and breaks available to you. Hopefully you only have to deal with financial losses associated with a natural disaster. If so, document everything and know the rules.

Delaying Social Security can lead to more money later, but what if you have to spend down your IRA to do so? In this show we do the math with specific numbers for an average retiree to see if delaying Social Security makes sense.

Should you delay Social Security if it requires you to deplete your IRA? Does it matter if you are single or married? In this show we discuss how spending down IRA assets early in retirement in order to get a higher Social Security income later can make sense in many situations. Being single does make a difference.

The rise in financial scams and fraud is disheartening and many retirees are failing victim to these crimes. To help prevent fraud, a simple tactic to to freeze your credit. In this show we talk about the how and why of implementing a credit freeze.

There are many ads on TV and radio to diversify your retirement funds by buying Gold/Silver in your IRA. The pitch to avoid stock market volatility and a potential U.S. currency collapse is appealing. Does this strategy makes sense and is everything as great as the spokespeople are suggesting.

According to a recent study, online gambling has had a negative impact on retirement savings. Gambling has always been a part of society, what is different now? Isn't investing in the stock market a form of gambling anyway? In this show we discuss how gambling in all forms has recently changed the way people are saving for retirement.

Social Security needs to be fixed and someone needs to step up and be a leader to make the changes needed. Who is going to be that leader? Will it be Trump or Harris? Or, perhaps it will be Biden as he finishes his term as President. Tune in as we discuss these possibilities.

According to Fidelity, retirement accounts are the highest they have been since 2021. In fact, Gen X has higher balances than the Boomers! This may seem like a great thing, which it is...but watch out! Those approaching retirement with large retirement accounts should watch out for a huge pitfall known as "sequence risk."

One particular group of retirees runs low on money at a much higher rate than others In this show we talk about who this group is and how the particular issues they face are not too different from those faced by most retirees. Listen and learn from others to help avoid a top retirement fear.

According to a recent research paper, those with Medicare Supplements use the services more often and cost more to the overall system. However, generally speaking, Supplement users are healthier. In this show we discuss the research as to why this is the case, and then Dan gives his practical reasons that aren't mentioned in the research.

The IRS finally published guidance in 2024 on the details that have been missing regarding Inherited IRAs. The SECURE Act of 2019 changed the rules for Inherited IRAs. The distributions can no longer be stretched over the beneficiary's lifetime in many cases. This became known as the new 10 year rule. However, there was significant confusion about this new rule, which left many uncertain on w...

Many in retirement like to keep a decent chunk of change in their checking & savings accounts at the bank. Others like to have physical cash on hand. How much is too much or too little? Is there a proper amount to keep handy for financial emergencies in retirement?

According to a recent study, nearly a quarter (24%) of 55-year-olds expect to need financial support from family in retirement . Is Gen X going to have to move in to live with their parents or kids in order to be able to retire?

A recent survey says Americans believe they need $1.46 million to retire. In this show we discuss how ridiculous this number is and why people shouldn't be caught up in such a sensational (and potentially depressing) headline number.

Since 2020, more people are expecting to stop working full time by they time they reach age 62. The data we explore suggests a significant increase of the number of people who expect to retire sooner than those asked in years past. In this show we discuss what might be causing this move to plan for "early" retirement.

What happened to the simple retirement plans from a generation ago? Retiring in the 1960s meant a pension and a relatively stress free financial life. Today we are creating complex retirement plans and financial stress is high. In this show, we talk about how it is possible to go back to "the good old days" of retirement and question why we don't do so.

Many people are surprised when they get an Income Related Monthly Adjustment Amount (IRMAA) letter from Medicare demanding higher payment for Part B and Part D (prescription drugs). In this show we talk about the main ways people get surprised by IRMAA and how to appeal if you get such a surcharge.

Many of the reasons people claim Social Security before their full retirement age are flawed. In this show we scrutinize the most common reasons why people are claiming early. From "breakeven" analysis, to getting better returns elsewhere, to Social Security going bankrupt, the justifications are questionable.