Financial Breakaway: Your Clear Path to Retirement

In retirement, healthcare costs can quickly become one of the biggest risks to your nest egg, making it essential to stay informed about changes in Medicare and review your plan annually. As Medicare introduces key changes for 2025, understanding these updates is crucial for making well-informed decisions that protect both your health and financial future. In this episode, we dive into three essen...

Planning to retire before 65? Health insurance is likely one of your biggest concerns as you bridge the gap before Medicare kicks in. In this episode of Financial Breakaway, I dive into the essential strategies for managing healthcare costs during those early retirement years. From understanding COBRA and Marketplace insurance options to minimizing taxable income for maximum subsidies, I’ll cover...

Healthcare in retirement is deeply personal. After all, it's not just about managing costs; it’s about ensuring you can enjoy the quality of life you’ve worked so hard to build. While money and investments are often front of mind, securing the right healthcare plan is just as critical for living well in retirement. And yes, the reality is—it’s going to be expensive. In today’s episode of Finan...

Imagine a retirement filled with beach strolls and golf course mornings. But lurking in the backdrop is an often underestimated challenge: Taxes! This uninvited guest can cast a shadow over your financial dreams, but you're not alone. On today's episode of "Financial Breakaway," we're turning tax confusion into tax mastery.  We'll skip the dry numbers and dive into action...

We currently find ourselves amid a presidential election year (whether we like it or not), and political headlines already dominate the news, sparking questions and concerns about how election outcomes might impact retirement and investment plans. As a Financial Planner, I often get clients coming to me and asking how the elections may affect their portfolios or retirement savings. And it's sa...

In this episode, I talk with Economist Bryce Gill of First Trust Portfolios on pivotal market trends of 2023 and look ahead to what 2024 holds for investors. Tune in for a rich discussion on the stock and bond markets, recession risks, and the intricate relationship between the markets and the economy. Topics discussed: Insights into 2023's stock market, featuring the 'Magnificent 7' s...

Join me on this episode of the Financial Breakaway Podcast as we dive deep into "Social Security Essentials: 3 Must-Know Topics for Effective Retirement Planning." As you near retirement, it's crucial to understand the intricacies of Social Security and how it fits into your overall financial plan. I'll guide you through the complexities and strategies to make the most of your Social Security bene...

Join me as I help unlock the secrets of the "Bucket Approach" to retirement planning. After decades of diligent savings, are you prepared to transition from the accumulation phase of your life to the distribution phase? This episode sheds light on the challenges retirees face and offers a structured solution to ensure your investments serve you effectively throughout your golden years. Dive into:...

Join me in this episode as I unravel the mystery behind retirement planning by addressing the fundamental question: "How much do I need to retire?" I dive into the complexities of retirement income planning and offer a unique perspective on determining your retirement needs. By examining the three distinct stages of retirement—Go-Go, Slow-Go, and No-Go—I provide a framework for understanding the c...

In today's special pre-launch episode, I have some thrilling news! "The Financial Breakaway Podcast" is relaunching with a fresh focus: "Your Clear Path to Retirement." Since its humble beginnings in 2019, this podcast has grown immensely, achieving 30 episodes and garnering thousands of downloads. Your valuable feedback, combined with my passion for financial planning, has inspired a refined visi...

00:45 - Intro  01:45 - Observation 1: Inflation hurts retirees more  2:20 – Sidetrack: What is Inflation? 05:30 - What can we learn: Find your own “Personal Inflation Rate”   08:31 - Observation 2: Social Security COLA adjustment isn’t as advertised   10:45 - What can we learn:  How to figure out what your NET Social Security COLA really is     13:52 - Observation 3: The biggest risk for retirees...

2022 has been a tough year all around.  So in this episode, I'm breaking down three observations I've seen so far in 2022 for mid-career individuals and what we can learn from those observations.  I try to explore these observations and lessons learned through a financial planning lens for the everyday person.   01:00 - Intro  02:20 - Observation 1: Traditional backup savings plans don't cut it 03...

2022 has been a tough year all around for people.  Headwinds such as the lingering effects of COVID-19, rising interest rates, rising inflation, rising commodity prices, the Russia/Ukraine War, falling stock and bond market, and then an economy that seems to be having a hangover in general.  It has been a lot. With all this going on, it has been hard to conceptualize how it all works together and...

Conversation between Ryan Hitchcock, Financial Planner at Hight Point Capital Group, and Bryce Gill, Economist at First Trust:   02:45 - Intro on Inflation & Market 04:45 - Great Moderation or Globalization    Long-term inflation outlook    Supply chain War in Europe 12:50 - Fed and interest rates 14:45 - The Monetary Tailwind is Ebbing    M2 Money Supply    Stagflation   18:30 - YOU SHOULD LISTEN...

Investing in the New Normal Series -- COVID-related shutdowns distorted the economy vs where it was before COVID and we are still trying to adapt to this world.  The question now is; how do we, as investors trying to save for our future, navigate and invest in it?  Let's learn from real people living and working in this "new normal" to help provide a unique perspective on what's going on. Early on...

Investing in the New Normal Series -- COVID-related shutdowns distorted the economy vs where it was before COVID and we are still trying to adapt to this world.  The question now is; how do we, as investors trying to save for our future, navigate and invest in it?  Let's learn from real people living and working in this "new normal" to help provide a unique perspective on what's going on. People a...

In this introductory episode of Investing in the New Normal Series, I talk about what this New Normal is and how we as a world got here.  COVID-related shutdowns distorted the economy vs where it was before COVID and we are still trying to adapt to this world.  The question now is; how do we, as investors trying to save for our future, navigate and invest in it? --- For more information: - Ryan Hi...

Investing in the New Normal Series --   COVID-related shutdowns distorted the economy vs where it was before COVID and we are still trying to adapt to this world.  The question now is; how do we, as investors trying to save for our future, navigate and invest in it?  Let's learn from real people living and working in this "new normal" to help provide a unique perspective on what's going on. The Gr...

In this special Thematic Investing Series episode, we go beyond buzzwords in the media with my guests, Mark Schwartz and Nick Cucci. Mark advises early-stage startups and co-founded PDT, a Chicago-based product development firm. Nick leads business development at PDT and helps clients identify new opportunities for innovation. Mark and Nick were perfect guests to follow up my Thematic Investing Se...

Thematic Investing Series -- FINALE! SPECIAL GUESTS my Dad, Mike Hitchcock, & brother, Brett Hitchcock!  Mike is President of Montana Broom & Brush Co, and Brett is the Regional Sales Manager for Jon-Don.   One might not normally lump the JanSan industry into today’s view of “thematic investing” as it’s usually not first to mind when buzzwords like “innovation” or “disruption” come up.  However, t...

Thematic Investing Series -- going beyond the buzzwords of the media with my guest, Brian Meidam, Founder & Owner of Plan B Homebuyers. Plan B Homebuyers buys houses with cash to provide people an option for a fast homebuying process.  They also do direct seller marketing and direct lending for real estate investors. Brian has a wealth of knowledge in all areas of the real estate industry, so in t...

Thematic Investing Series -- going beyond the buzzwords of the media with my guest, Tommy Ludan, Founder & Owner of Carcade, Inc. a mobile gaming and entertainment company. In this episode, Tommy helps us understand that the gaming industry is not just for the younger generation playing alone in their homes anymore.  Rather it is one of cross generational adoption with a great sense of community a...

Thematic Investing Series -- going beyond the buzzwords of the media with my guest, Roy Dietsch.  Roy is the Founder and Owner of PartsBadger a local Milwaukee online CNC machine shop that was listed in Inc.’s Magazine as the 525th fastest growing private companies in the country in 2021.  In this episode, Roy helps us understand the current state of the Automation & Robotics industry by sharing h...

Thematic Investing Series -- going beyond the buzzwords of the media with my guest, Josh Delaney, Founder of FAB CBD one of the most recognized and leading CBD e-commerce retailers in the world.  In this episode, we really dig deep into Josh’s experiences in the very interesting CBD industry.  Being a serial entrepreneur, he shares some great insights on the history of the industry and where he se...

Thematic Investing Series -- going beyond the buzzwords of the media with my guest, Nico Bartolomeo, Senior Technical Consultant, Cloud Security for Kalypso (A Rockwell Automation Company).    In this episode, Nico helps us understand what's really going on in the Cybersecurity industry from his experiences.  He discusses where he sees the industry going in the future for both corporations and ind...