Joe Knows Retirement

If you're a Midwestern Millionaire, you may be better at saving money than spending it. But as Joe talks about in this episode of Joe Knows Retirement, you should use the money you've spent your whole life saving. Joe shares common ways retirees spend their money in retirement, then shares how you can get a better idea of exactly how much money you can spend in retirement based on your income. Are...

Big changes could be coming to tax rates in 2026. In this episode of Joe Knows Retirement, Joe talks about the Tax Cuts and Jobs Act and how tax rates will go up once it expires in 2026 unless something changes. He discusses the different taxes that could be affected by the change and shares a strategy you can use to minimize the amount you pay in taxes. Are you interested in applying to receive e...

Pensions can be a huge asset in retirement, but they can also present unique decisions for you to make. In this episode of Joe Knows Retirement, Joe talks about the lump sum and survivor options with pensions and discusses the pros and cons of taking them. Depending on your situation, taking these options could be a great step towards having the retirement you've worked your whole life for. Are yo...

Have you ever heard of the different phases of retirement? In this episode of Joe Knows Retirement, Joe talks about the go go years, the slow go years, and the no go years of retirement and shares how you can financially prepare for each pf them. Above all, he encourages you to consider what you want your retirement to look like so you can plan for it accordingly. Are you interested in applying to...

In this episode of Joe Knows Retirement, Joe joins Mindy and Boots to discuss the upcoming 2024 presidential election and share this expert opinion on how the candidates' policies could affect your retirement. He talks about Donald Trump's and Kamala Harris' different approach to taxes and stresses the importance of working with a financial planner to make sure you have a plan regardless of who wi...

Roth conversions aren't always the best investment option for everyone, but for these five types of people, they almost always are. In this episode of Joe Knows Retirement, Joe discusses five types of people who will nearly in all cases benefit from doing a Roth conversion. From people with over $1 million in tax-deferred investments to people who have a pension, Joe shares about the unique opport...

If you're 59.5 or older and you have a 401k, an in-service withdrawal could be an excellent investment opportunity for you. In this episode of Joe Knows Retirement, Joe explain what an in-service withdrawal is and shares why it could make sense for you to do it, especially if you've been a diligent saver leading up to your retirement. Are you interested in applying to receive expert help in planni...

It's never too early to start planning for your retirement, especially if you're between the ages of 55 and 59. In this episode of Joe Knows Retirement, Joe shares the things you can start doing now to minimize taxes and maximize savings in retirement. From Roth conversions to planning for the fragile decade, Joe covers it in this video. Are you interested in applying to receive expert help in pla...

Pensions can be an invaluable asset to have in retirement, but if you don't plan for them accordingly, they can also become your biggest liability. In this episode of Joe Knows Retirement, Joe shares five reasons why pensions are great, as well as two reasons why they maybe aren't so great. From their monetary value and status as guaranteed income to their tax complications, Joe discusses it in th...

In this episode of Joe Knows Retirement, Joe joins Mindy and Boots to respond to the recent assassination attempt on former president Donald Trump. They share their reactions to the event, talk about the current state of our country, and discuss how things (including your finances) might change if he gets reelected. Are you interested in applying to receive expert help in planning for your financi...

When it comes to retirement planning, doing it yourself can be risky. As Joe explains in this episode of Joe Knows Retirement, DIY retirement planning can lead you to miss out on both time and money in retirement. Depending on your situation, it might be worth entrusting a team of professionals with your retirement plan so you can feel more confident that you're getting the most out of the retirem...

If you're 60 years old, have a pension, and have $1 million+ in savings, you're in a very unique position as you approach and enter retirement. In this episode of Joe Knows Retirement, Joe deep dives into everything you need to know about tax planning, legacy planning, and charitable giving in retirement with a pension and high net worth. Are you interested in applying to receive expert help in pl...

Roth conversions are a great tool for retirees and soon-to-be retirees, but that doesn't mean they should be the only tool in your investment tool belt. In this episode of Joe Knows Retirement, Joe shares why Roth converting all of your assets might not be as lucrative as you think and explains why a more balanced, diversified portfolio will likely be a better option for you. Are you interested in...

Are you familiar with the estate tax? As Joe explains in this episode of Joe Knows Retirement, if you have $1-3 million or more and you don't plan for estate taxes, you could see a significant amount of your assets go to Uncle Sam after you pass away. Joe discusses what the estate tax is, why it can be so devastating, and what you can do to minimize its cost on your life earnings. Are you interest...

Should long-term care insurance be a part of your retirement plan? It can be a good tool for some retirees, but for others, better options are out there. In this episode of Joe Knows Retirement, Joe discusses factors you should consider when deciding whether or not to get long-term care insurance, as well as shares alternatives to long-term care insurance that might be more appropriate for you. Ar...

When it comes to estate planning, it might be hard to know where to start. Do you need a will? How about a trust? In this episode of Joe Knows Retirement, Joe talks about nearly every estate planning document you can come across and explains whether or not they might be good documents for you to have in your estate plan. Are you interested in applying to receive expert help in planning for your fi...

Have you ever thought about having your kids work with your financial advisor? Well as Joe explains in this episode of Joe Knows Retirement, it could be a good idea. From minimizing headaches when you're estate is passed on to maintaining continuity of your values with your wealth, Joe discusses it in this episode. Are you interested in applying to receive expert help in planning for your financia...

In this fun episode of Joe Knows Retirement, Joe joins Mindy Drayer to talk about Peak Retirement Planning and the amazing growth it's seen over the past couple years. He shares about Peak's humble beginnings, as well as answers questions like, "What are some good tax-free investment options?" Are you interested in applying to receive expert help in planning for your financial future? If so, you c...

Investing can be overwhelming, and if you don't do it properly, you could end up paying more in taxes than you need to. In this episode of Joe Knows Retirement, Joe explains tax location investing and uses buckets to illustrate the different types of investments. He shares how to optimally invest in each bucket so that you pay as little in taxes as possible and get as big of a return as possible....

If you're near retirement, you might imagine retiring as early as you can at 59.5. In this episode of Joe Knows Retirement, Joe explains how this could be a possibility for you and shares reasons why it might be a good idea. He also shares other aspects to be aware of when retiring early, including potential costs and potential changes to the financial legacy you leave behind. Are you interested i...

Some retirees who try to DIY their retirement plan might seek out a one-time plan from a financial advisor. But while one-time plans can be helpful, they're not typically as helpful as ongoing plans. In this episode of Joe Knows Retirement, Joe shares the reasons why one-time plans might leave you needing more, and how ongoing plans might instead help provide the comprehensive care you're looking...

Pensions are a huge asset to have in retirement, but they can also make tax planning trickier. In this episode of Joe Knows Retirement, Joe shares five reasons why doing a Roth conversion can be helpful if you have a pension in retirement. From causing you to be in a higher tax bracket to making you pay increased Medicare premiums, pensions can affect all sorts of things in retirement, so Roth con...

The widow's penalty can have major consequences on your retirement if you don't plan for it. In this episode of Joe Knows Retirement, Joe explains how the widow's penalty can impact your finances, and shares an example that shows the huge difference planning can make when it comes to dealing with the widow's penalty. Are you interested in applying to receive expert help in planning for your financ...

Working with a fiduciary in retirement planning is important, but is it enough? Fiduciaries are professionals who are obligated to work in your best interest. In this episode of Joe Knows Retirement, Joe discusses why, based on that definition, working with someone who is just a fiduciary may not be sufficient to help you access all the best resources in retirement planning and make sure you're pl...

Out of the five pillars of retirement planning, tax planning is the most central and most important. In this episode of Joe Knows Retirement, Joe explains the importance of tax planning and dives into each of the other four pillars of retirement planning to explain how tax planning is involved. Are you interested in applying to receive expert help in planning for your financial future? If so, you...