Retirement Answers

One of the biggest factors in your ability to retire is whether or not you have debt. If you have no debt, retirement becomes that much easier. BUT does that mean you should pay off your mortgage before retirement at all costs? That's what I discuss in this episode. ——————————————————————————— Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-started Email: jacob...

"The market is at all-time highs! We are due for a recession! I'm going to wait for the next pullback..." These the statements we all tell ourselves, but we shouldn't follow our own hunches and opinions. This week, I am talking through a framework that you can use to help answer the question, "Is now a good time to buy stocks?" ——————————————————————————— Book a free consultation to get started to...

Most people only think about the money side of retirement. Do I have enough? When should I start Social Security? Which account should I pull money from first? These are all important questions, but the personal and emotional side of retirement often gets overlooked because the financial questions are top of mind. I encourage you to ask yourself, "What are you retiring to?" You know what you are r...

Trying to figure out when you should do Roth conversions? In this episode, I share the optimal times to do Roth conversions so that you get the most out of this important tax minimization strategy. ——————————————————————————— Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-started Email: jacob@rivertreewealth.com Website: https://www.rivertreewealth.com LinkedI...

How aggressive or conservative you should invest your money in retirement is a constant question in retirees' minds. How much risk should I take? Should I just use a standard 60/40 portfolio? How much cash should I have on hand? In this episode, I address this common question and provide a framework you can use to determine how much cash you should have in retirement based on YOUR unique situation...

IRMAA stands for Income Related Monthly Adjustment Amount. In short, it is a surcharge that can be added to your Medicare Part B & D premiums IF you earn to much money. I talk about IRMAA here on the podcast and with my clients because it is something we have to pay attention to so that it doesn't catch us off guard, but I feel like many view IRMAA as something you MUST avoid. In this episode,...

Having a Roth IRA in retirement can be very powerful. It allows you to make tax-free distributions for retirement income and gives you flexibility around your tax brackets... But I've noticed one thing. I/we as financial planners often suggest taking from your Roth IRA last for income in retirement so it has more time to compound tax-free. While this is often a good idea mathematically, I have bee...

It's not secret that sudden market declines can cause fear and anxiety in investors' minds. Recently, we've seen some volatility enter the markets and you might be wondering if you should make any changes to your portfolio. In this episode, I provide a framework and steps you can follow to navigate the emotions and uncertainties market volatility throw at us. If you'd like an example of the Retire...

Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-started I've seen a common theme in almost every portfolio review I have done lately for prospective clients... I share that investing mistake and 4 others with you in this weeks episode! ——————————————————————————— Website: https://www.rivertreewealth.com LinkedIn: https://www.linkedin.com/in/jacobduke Jacob Duke...

Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-started Tax planning is a huge part of building a successful retirement plan. You often hear about Roth conversions or tax-loss harvesting, but there is a simple way that EVERYONE can reduce there taxes each year... ASSET LOCATION. ——————————————————————————— Website: https://www.rivertreewealth.com LinkedIn: http...

Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-started Required Minimum Distributions (RMD) aren't the worst thing in the world, but they could force you to pay taxes you don't want to pay. In this episode, I share 5 ways to reduce your RMDs and take back control of your tax bill in retirement. ——————————————————————————— Website: https://www.rivertreewealth.c...

Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-started Not sure where to pull income from first in retirement? It can be a overwhelming to figure this out because of the impact your distributions have on other items in retirement such as Social Security taxes, RMDs, Medicare Premiums, and more. This week on the podcast I share some ideas around how to decide w...

Today, I'm sharing 7 reasons you shouldn't do Roth conversions... I hear about far too many people who are trying to do Roth conversions, but they shouldn't be doing any at all. Yes, Roth conversions are a power tax planning strategy for retirees, but it's not the best strategy for everyone. Creating a comprehensive plan that is unique to your situation is key. Don't just do Roth conversions becau...

Need a custom retirement plan? 👉 Get started today: https://www.rivertreewealth.com/get-started Wondering if you have enough money saved up to retire comfortably in 2024? In this video, I provide a framework you can use to evaluate how much you need to live a worry-free retirement. ——————————————————————————— Website: https://www.rivertreewealth.com LinkedIn: https://www.linkedin.com/in/jacobduke...

One of the biggest questions around Social Security is, "Will I pay income taxes on my Social Security benefits?" I answer this very question, walk through an example, and share some tips on how you can lower your Social Security taxes in the future. ——————————————————————————— Website: https://www.rivertreewealth.com LinkedIn: https://www.linkedin.com/in/jacobduke Jacob Duke, CFP, MBA is the foun...

In recent years, there has been a growing concern around Social Security going insolvent. There are some truths to these concerns, but there are also many misunderstandings. The biggest misunderstanding is that Social Security will be going away entirely. The confusing part is that the Social Security trust fund could be running out in the future, but Social Security is a pay-as-you-go system. Thi...

Estate planning is often a forgotten part of a financial plan, but there are a few steps you can take to start building your estate plan. It doesn't have to complicated, so I am sharing 3 must-haves to include in your estate plan. There are more elements to think about including in your estate plan, but these should get you started. ——————————————————————————— Website: https://www.rivertreewealth....

So you inherited an IRA... But now what? Do you have to take all of the money out immediately? Over your lifetime? Within 10 years? The SECURE Act was instituted in 2020, but we are still trying to understand what the rules actually are for IRA inheritors. Prior to the SECURE Act, you could stretch the Required Minimum Distributions (RMD) over your lifetime. This gave you the benefit of spreading...

There are lots of opinions and ideas around how to properly plan for and live out a successful retirement. Today, I'mis sharing 8 do's & don'ts of retirement planning that I often run into when talking with prospective clients. Topics covered: - How to invest in retirement - How you can trust your plan - Why you should be proactive instead of reactive - Understanding Social Security - Talking...

It's an election year! We will be choosing the next President of the United States later this Fall and times like this often raise a lot of questions in investors' minds. "Will the stock market go down is this person is elected?"  "Should I get out entirely to avoid any turbulence?" "Which political party has the best track record when it comes to stock market returns?" "If that person get's elect...

As a retirement planner, I get to see the good and the bad of every retirement plan. All the good decisions and the mistakes that come up. In an effort to help you avoid some common mistakes I see, I put together a list of 8 mistakes to avoid. These are mistakes around investing, income planning, withdrawal strategies, and mindset mistakes. I hope this helps you know what to look out for and encou...

I have some big news to share with you... I have launched my own wealth management firm, Rivertree Wealth! I'm excited to continue serving my clients and begin working with new clients in the future. To learn more about Rivertree and how we can help you, please visit www.rivertreewealth.com . Also, I wanted to share our system, the Rivertree System, with to give you more insight to how we approach...

Alright... Let's talk about financial advisor fees. Understanding how a financial advisor gets paid can be hard because there are numerous ways an advisor can receive compensation. In this episode of Retirement Answers, Jacob breaks down the main things you need to know about advisory fees in an objective, unbiased way. Topics covered: - Commissions vs Fees - Fee Only vs Fee Based vs Commission Ba...

Roth IRAs are powerful retirement accounts. You get to pay your tax now, let your investments grow tax-sheltered, and take from the account in retirement TAX-FREE! (The tax-free part depends on whether or not you meet the age 59.5 and 5 year requirements) Having a Roth IRA in retirement will help you lower your tax bill in your retirement years and be a huge benefit when it comes to Social Securit...

Maybe you have heard of retirement "gap years" or maybe it's a new concept to you, but how to plan for your retirement gap years is a common question for retirees. The value of these years is that they are likely going to be the lowest tax years for the rest of your life. This means you could have an opportunity to take advantage of those lower tax rates and lower your lifetime tax bill. In this e...