Retirement Planning - Money Not Math

In this episode of Money Not Math, we revisit a popular topic from Episode 162: “What Does Retirement Income with $500,000 in an IRA + Social Security Look Like?” But this time, we’re answering a viewer’s important question: doesn't seem like there wouldn't be a benefit in filling the 12% as well as 10% - especially when considering one spouse will pass away; let's say at 78. Would you...

Roth conversions can be a powerful tax planning tool—but they’re not right for everyone. In this episode, we explore five situations where a Roth conversion might make sense, including: ✔ A lower-than-normal tax year ✔ Expecting tax rates to rise ✔ Having a long-time horizon before needing funds ✔ Reducing future Required Minimum Distributions (RMDs) ✔ Lowering the tax burden for your heirs We’ll...

Would you rather pay taxes now or later? For many retirees, that question can make a big difference in your financial future. In this episode of Money Not Math, we break down Roth conversions—what they are, why they matter, and key considerations before making a move. What you’ll learn: ✔ What a Roth conversion means ✔ Potential benefits like tax-free withdrawals and no RMDs ✔ Important factors to...

Are you an empty nester wondering if long-term care insurance is worth the cost? In this video, we break down the numbers, the pros and cons, and what it means for your retirement plan. Long-term care expenses can be one of the biggest risks to your financial future. Whether you’re considering insurance or self-funding, the right choice depends on your goals, health, and assets. If you have $300,0...

According to a Forbes article by Andrew Biggs (“Half of Retirees Will Run Out of Money—That’s the Good News”), about 50% of retirees will deplete their retirement savings during their lifetime. But here’s the twist: most retirees still have Social Security, which pays for life with cost-of-living adjustments. The real risk isn’t being penniless—it’s losing the ability to maintain your desired life...

In this episode, I walk through a hypothetical retirement scenario for a couple with: 💼 $500,000 in an IRA 📄 Two average Social Security incomes of $1,883/month each We explore: 🔍 How different asset allocations may influence income sustainability 📊 The impact of Social Security timing strategies 💡 Tax considerations that affect net retirement income 🧭 Spending approaches that align with lon...

Two Doors. One Choice. Which Will You Pick? Copy: Retirement comes down to two outcomes: 🚪 Door #1: Your money outlives you → Dignity. Independence. Legacy. 🚪 Door #2: You outlive your money → Dependence. No legacy. The difference? A Plan. We help you build a strategy that gives you the best chance at Door #1. Free, no-obligation consultation. 👉 Ready to choose your door? Message us today. #Ret...

“I’ll be 65 this year. I’ve saved diligently and built up a $1 million 401(k). I’m expecting a $500,000 inheritance. I spend up to $6,000 a month. So, here’s the big question: Can I retire on January 1st, 2026?” In this episode, we walk through a real-world retirement scenario — and without making any guarantees or recommendations. You’ll learn: ✅ Why when you retire matters ✅ How Long-Term Care...

If you're 65 or older—or planning for retirement—this episode breaks down how new legislation could reduce your taxable income and potentially eliminate taxes on your Social Security benefits. 📌 Topics include: 2025 standard deduction increases Social Security tax relief Income limits and sunset clauses Strategic planning tips for retirees 📞 This podcast is for informational purposes only an...

🎢 The market dropped sharply in April… 📈 Then surged over 26% by early July. In Money Not Math 160, I break down what this rebound teaches us about long-term investing—and why reacting emotionally to short-term volatility can derail your retirement goals. ✅ Stay focused ✅ Stick to your plan ✅ Think long-term 💡 I also reference strategies from Episode 159 to help you stay grounded when the ma...

Feeling the ups and downs of the stock market? 🌊 Don't worry, you're not alone! Check out these five essential strategies to help you ride the market roller coaster: 1. Embrace the Long Game: Investing is a marathon, not a sprint. Focus on your long-term goals and checkout the Probability of Positive Returns graph I highlight in the video. 2. Diversify Your Portfolio: Spread your investme...

Hello and welcome to Money Not Math episode 158! I'm Drew Erickson, and today we're diving into Warren Buffett's recent comments on Berkshire Hathaway's cash holdings and what they mean for investors like you. In his latest annual letter to shareholders, Buffett addressed concerns about Berkshire's substantial cash reserves, which stood at $334 billion at the end of the fourth...

In this episode, I dive deep into the world of Health Savings Accounts (HSAs). Discover how HSAs can be a game-changer for your financial health, offering triple tax savings and more. But they aren’t always the right decision for everyone. We break down the benefits of high-deductible health plans and compare them with traditional health insurance options. Learn how HSAs can significantly impact y...

Are you reconsidering when to take your Social Security benefits? Or planning for the unpredictable future of late-life finances? Check out this podcast highlighting: 1. Discover why delaying Social Security benefits might not always be the best strategy. 2. Learn how to create a robust financial plan to guide late-life decisions and weather an unpredictable future. Stay informed and make the best...

Curious about how tariffs might affect your investment portfolio? Check out this podcast. Key Takeaways: • Historical Context: Learn how past tariff implementations, like those during President Trump's term, impacted markets. • Market Reactions: Discover why markets often price in expected developments, potentially muting the impact of new tariffs. • Forward-Looking Insights: Understand how cu...

Hello everyone! 🌟 In today’s Money Not Math episode #157, we review key tax deductions that can help you save money and make the most of your home investment. 🏡💰 I recently came across an insightful article on Yahoo Finance about tax deductions for homeowners, highlighting eight valuable deductions that can lower your income tax. Let's break them down: 1. Mortgage Interest Deduction: Deduct...

Here's a clip of, 🌟 Retirement Planning Insights: Watch or Listen Now! 🌟 Hey everyone! 🎥🎙️ I just recorded a video and podcast diving into some crucial retirement planning topics inspired by three insightful articles. Here's a sneak peek: 1. Double Taxation on Social Security: Many older Americans are feeling the pinch as Uncle Sam claws back their Social Security benefits. Learn how th...

🌟 Retirement Planning Insights: Watch or Listen Now! 🌟 Hey everyone! 🎥🎙️ I just recorded a video and podcast diving into some crucial retirement planning topics inspired by three insightful articles. Here's a sneak peek: 1. Double Taxation on Social Security: Many older Americans are feeling the pinch as Uncle Sam claws back their Social Security benefits. Learn how this "double taxati...

Did you know the government decides when you must start spending your 401(k) and IRA money in retirement? 🎙️ Welcome to Money Not Math 156! 🎙️ Tune in to learn more about: 🔹 RMD Essentials: Understand that taxes are only delayed, not avoided. 🔹 Strategies: Discover ways to delay or avoid RMDs. 🔹 Retirement Planning Tips: Get expert advice to secure your financial future. Don't miss out! Sha...

Ever wondered if 401(k) withdrawals before age 73 count toward your Required Minimum Distributions (RMDs)? 🤔 Did you know the government decides when you must start spending your 401(k) and IRA money in retirement? 🎙️ Welcome to Money Not Math 156! 🎙️ Tune in to learn more about: 🔹 RMD Essentials: Understand that taxes are only delayed, not avoided. 🔹 Strategies: Discover ways to delay or avoid...

“More than 8 in 10 workers over 45 regret not taking retirement saving more seriously when they were younger.” “More than half of those surveyed by EBRI retired earlier than expected due to reasons beyond their control, such as health problems or disability, or changes at their company, like downsizing, closure, or reorganization.” Only 19% of retirees have a written plan, she added. “But just bec...

What do people regret the most when they retire? 1.23.25 Retirement Planning Coffee Talk “More than 8 in 10 workers over 45 regret not taking retirement saving more seriously when they were younger.” “More than half of those surveyed by EBRI retired earlier than expected due to reasons beyond their control, such as health problems or disability, or changes at their company, like downsizing, closur...

In our latest Coffee Talk video/podcast, we dive into smart retirement planning tips: 1. 5 Mistakes to Avoid with Your Investment Portfolio. 2. How inflation affects your stocks and bonds 📉🏦 3. 4 purchases keeping the middle class from retiring early 💡💰 Full podcast: https://creators.spotify.com/pod/show/drew-erickson7/episodes/5-Mistakes-to-Avoid-with-Your-Investment-Portfolio--1-16-25-Retire...

In our latest Coffee Talk video/podcast, we dive into smart retirement planning tips: 1. 5 Mistakes to Avoid with Your Investment Portfolio. 2. How inflation affects your stocks and bonds 📉🏦 3. 4 purchases keeping the middle class from retiring early 💡💰 Join us for these weekly Coffee Talks to connect and get valuable advice—even if you're not a client. Whether you join us on Facebook Live...

“According to the study, 78% of pre-retiree respondents expressed concern over inflation’s effect on their retirement income.” 1 Market Review 2024: Stocks Overcome Uncertainty to Notch Another Strong Year… “It’s a reminder that the market is constantly incorporating new information into prices—including expectations for moves by the Fed.” 2 Weekly Retirement Planning Coffee Talks are a casual way...