Protecting & Preserving Wealth

Today, Bruce and Jason Hosler delve into the financial landscape of 2024, focusing on the pivotal role of interest rates, the ongoing impact of inflation, and the potential influence of the presidential election on the economy. The Federal Reserve had significant influence on the financial events of 2023, particularly through historic rate increases and a subsequent pause. We collectively foresee...

Today, Bruce Hosler and Jon Gay dive into the financial realities of the United States, focusing on the website USDebtClock.org . This website offers real-time data on national finances, including our ever-increasing national debt. As of this podcast, the U.S. national debt is at about $33.7 trillion, a steep increase from $27 trillion just three years ago. We also discuss the significance of debt...

Today, Bruce and Alex Koury talk about the S&P 500's present situation and potential future growth, emphasizing the role that specific stocks and more general investment strategies play in these turbulent times. Alex begins by outlining the S&P 500's incredible 2023 performance, powered mainly by seven stocks—dubbed the 'Magnificent 7.'    These are IT behemoths like Apple, Amazon, Meta, Google, M...

Bruce and Jason Hosler discuss the Corporate Transparency Act (CTA) implications for small business owners. The CTA, a new regulation set by the Treasury Department's lesser-known division, The Financial Crimes Enforcement Network (FinCEN) , mandates that most small businesses disclose comprehensive information about their beneficial owners. This mandate includes personal and contact details, requ...

In this episode of the "Protecting and Preserving Wealth" podcast, host Bruce Hosler and Jon Gay dive deep into the Buckets of Money strategy for retirement income. Amidst a backdrop of stock market volatility, geopolitical tensions, and inflation, Bruce presents the Buckets of Money strategy as a safeguard against Sequence of Return Risk —a serious risk retirees face when market downturns coincid...

In this episode of the Protecting and Preserving Wealth Podcast, Jon Gay and Bruce Hosler discuss the importance of early financial lessons and their lasting impact. Bruce begins client relationships by asking them clients about their childhood money experiences, highlighting how these early lessons shape our financial behaviors. Today, we explore how different family dynamics influence financial...

In this episode of the Protecting and Preserving Wealth Podcast, host Bruce Hosler and Jon dive into the crucial topic of why having a will is only a partial estate plan - exploring the significance of beneficiary forms and their power in estate planning. We begin by explaining the importance of beneficiary forms, emphasizing that they can override the instructions in your will or trust. Bruce hig...

Today, Jon Gay, Bruce Hosler, and Jason Hosler from Hosler Wealth Management discuss various aspects of Social Security benefits and switching strategies. They start by explaining the concept of switching benefits, which allows individuals to switch to a new benefit when they become entitled, especially if it is higher than their current benefit.  They emphasize that the Social Security Administra...

Today, Bruce and Jon are joined by Alex Koury, a wealth advisor with Hosler Wealth Management from the Scottsdale office, speaking about Estate Planning in this episode.   We delve into the critical topic of estate planning in a clear and straightforward manner.  Bruce begins by emphasizing the essential role of a Will, especially for parents with minor children.  A Will determines who will care f...

In this episode of "Protecting and Preserving Wealth," Bruce and Jon dive into a comprehensive discussion about the intricacies and nuances of 529 plans. These plans, designed to aid in saving for educational expenses, offer a range of benefits that extend beyond traditional college savings. We highlight the potential tax advantages of 529 plans, one of which is an appealing opportunity for grandp...

In this episode of "Protecting and Preserving Wealth," Bruce and Jon discuss a counterintuitive approach: discontinuing contributions to traditional IRAs and 401ks. Drawing insights from IRA distribution expert Ed Slott, I challenge established retirement planning conventions. Slott is a recognized authority in IRA planning, is a professional speaker, best-selling author, and well-regarded by The...

Many of our listeners have established a trust for their assets upon passing. And while nobody wants to think about their mortality, today I explain what happens to that trust when you pass. The first thing that happens is that your living revocable trust becomes an irrevocable trust, and your successor trustee is now in charge of it. Also, the trust will need its own tax ID number and have a retu...

It's a question many taxpayers ask themselves each year.  Should I itemize my deductions, or should I take the standard?  Of course, every situation is different.  But today, I break down some factors that can affect this decision. Since the Tax Cuts and Jobs Act (TCJA) of 2017, there are six main areas where you can claim itemized deductions.  Today, I will focus on four: Medical and Dental Expen...

Congress has passed the SECURE Act 2.0. Among the many retirement plan changes are new catch-up contribution requirements. Alex Koury from Hosler Wealth Management joins Bruce today to explain. As you may know, employees aged 50 and over can make "catch-up" contributions to their plans to save more for retirement. Until 2023, these additional contributions could go into the tax-deferred side of a...

Upon your passing, your estate could end up in probate. All your affairs will become public record, there can be delays on the paperwork, and there will, of course, be attorneys' fees. Jason Hosler rejoins us today to talk about avoiding probate. First, review all your beneficiary designations for all your bank and brokerage accounts. These designations are Payable on Death (POD) for bank accounts...

Deciding what to leave to your children - and how to do it - is a challenging topic to bring up. But it's crucially important to take care of this now while you are still able.  Some parents want to spend down their life savings and enjoy their retirement. Others pinch every penny so they can leave a larger inheritance behind. And for those leaving an inheritance, some choose to leave it in the fo...

As a tax accountant, Bruce Hosler is certainly in his busy season, as he and his team of tax professionals, CPAs, and Enrolled agents are hard at work on the tax returns of Hosler Wealth Management's clients. Bruce's goal is always to move clients to "tax-free" vehicles, meaning repositioning or converting taxable and tax-deferred assets to tax-free vehicles like Roth IRA and 401(k) plans, life in...

You may be familiar with a traditional 401(k) retirement plan, but today Bruce Hosler of Hosler Wealth Management will explain how a Roth 401(k) works, how it's different, and the benefits associated with it. In a traditional 401(k), the contributed funds are tax-deferred. Participants don't pay taxes on the way in; that money doesn't count toward their annual taxable income. Many clients love thi...

Bruce Hosler and Jon Gay list eight mistakes in the second half of our 2-part series on Avoiding Estate Planning Mistakes .  They include: Failing to establish an estate plan. Failing to fund your trust. Failing to update beneficiary designations after life changes. Failing to plan for estate taxes, gift taxes, and a taxable estate. Annual gift tax exemption mistakes (gift-spitting). Improper titl...

Today, Bruce sits down with Jon Gay for the first of a two-part series on avoiding estate planning mistakes.  Sadly, we see these mistakes every day. We'd like to help you avoid them. How do you know if you need a Trust or a Will? Who should have a Trust, and what are the benefits of a Revocable Trust? Also, consider these documents: Pour-over Will Revocable Living Trust Durable Financial Power of...

The Annual Gift Tax exclusion amount is increasing from $16,000 to $17,000 in 2023.   Today, Bruce and Jon explain the importance of this, and why these rules can have significant financial ramifications for years to come - not just for you, but for your heirs as well. If you exceed the annual gift tax amount, you'll need to file a gift tax return - paperwork that will also need to be retained for...

For our listeners in Arizona, the state offers four great ways to receive tax credits on your state return. This is a tax credit, not a tax deduction , and Bruce starts today's episode by explaining the significant difference between the two.  We then break down each of the four possible credits: Private School Arizona Tax Credit Public School Arizona Tax Credit Qualified Charitable Organizations...

A 1031 exchange refers to the section of the internal revenue code section that allows property owners to take the proceeds of a sale of real estate and reinvest those same proceeds into another property without recognizing a capital gain and without having to pay the taxes on the same.  Instead, they get to defer the gains and add them to the new property. Today, Bruce walks you through the 1031...

Einstein said, "The definition of Insanity is doing the same thing over & over and expecting a different result."   We've seen some historic shifts in the markets in 2022.  So why would you employ the same strategies you've been using for the past 40 or so years? We've seen drops in stock and bond markets, rising inflation and interest rates, an energy crisis, mortgage rates go up, and so much mor...

There are so many uncertainties in today's world - everything from war, to the remnants of a pandemic, to the political turmoil we currently see in our country.   And economically, we've seen supply chain and worker shortages, and a stock market that's been down anywhere from 16-22% in 2022. Often when circumstances are beyond our control, we feel helpless and stressed.  And while some of the larg...