The Aul Financial Hour

Learn why delaying Social Security could lead to significant increases in your benefits and discover strategies to help make the most out of your retirement planning. Steve provides valuable advice on spousal benefits and explains ways to navigate the complexities of Social Security optimization. In addition, delve into the fascinating world of financial social media as Steve discusses the implica...

In this episode, we delve into two critical topics: Social Security and airline passenger rules. Did you know that a recent poll revealed shocking statistics about Social Security knowledge among near retirees? With 41% failing a basic Social Security quiz, it's evident that understanding this crucial retirement benefit is more important than ever. Join us as we uncover the fundamental facts about...

In this episode, Steve explores the critical topics of long-term care expenses and protecting investments amidst market volatility. Discover the staggering variations in long-term care costs across different states and gain insights into why planning for this inevitable expense is vital. Steve shares personal experiences that led him to prioritize long-term care planning, emphasizing the importanc...

Today's big question revolves around the essential document many overlook come April 15th. In a comical yet cautionary tale, we explore the consequences of neglecting tax returns, as hilariously illustrated by a segment from Judge Judy. But beyond the annual chore of filing taxes lies a deeper concern: minimizing tax bills in retirement. Join Steve as he delves into the intricacies of tax planning...

With over 12,000 individuals reaching the age of 65 daily, the landscape of retirement is rapidly evolving. In this episode, Steve sheds light on the nuances of Medicare enrollment, offering invaluable insights into navigating the complexities of healthcare coverage during retirement. Steve's expertise extends beyond retirement age demographics to encompass portfolio rebalancing strategies. Addres...

Drawing from a powerful anecdote and insights from financial services, Steve emphasizes the necessity of legal documents like wills, trusts, and powers of attorney to ensure your wishes are honored and your loved ones are spared from potential legal turmoil. Additionally, the episode explores Kevin O'Leary's bold assertion that $5 million is the magic number for retirement, prompting a discussion...

Steve delves into the startling statistics revealing the impact of divorce on wealth and standard of living, particularly in what experts term "Gray divorce." Through real-life scenarios like Sally's unexpected divorce, Steve highlights the emotional turmoil and financial complexities that accompany such life-changing events. From asset division dilemmas to the intricacies of retirement income pla...

Join Steve as he navigates the complexities of long-term care planning, drawing from personal experiences and industry experience to offer actionable insights and potential solutions. From the sobering reality of out-of-pocket caregiving costs to the importance of comprehensive planning, Steve addresses common misconceptions and helps empower listeners to take proactive steps towards financial sec...

Join Steve as he discusses the remarkable story of Magic Johnson, whose diverse investments catapulted his wealth far beyond his earnings from basketball. Discover practical strategies for replacing your paycheck in retirement, even if you don't have Magic Johnson's financial resources. Steve shares real-life examples and explains three key approaches to bridging the income gap during retirement,...

Inspired by insights from the real-life "Wolf on Wall Street," Jordan Belfort, Steve and his co-host dive into the challenges of trading on financial news predictions. Discover the pitfalls of relying on market forecasts and the importance of a comprehensive financial plan. The hosts share anecdotes from the past, highlighting the dangers of blindly following stock tips. Is your 401K enough for a...

Contrary to the assumption of a comfortable retirement, a recent study reveals that fewer than half of Americans aged 65 to 74 have saved enough. Steve discusses the potential burden on the children when long-term care needs arise and explores strategies to make the right adjustments before it's too late. Discover the often overlooked aspect of long-term care planning and the various options, incl...

Join Steve All on the All Financial Hour podcast as he delves into the potential expiration of the Trump tax cuts in 2024. With uncertainty looming, Steve discusses the impact on individual tax rates, standard deductions, and estate tax exemptions. Learn about the possible changes and how it may affect your financial landscape. Steve explores proactive strategies, including Roth conversions, to mi...

In this episode, Steve dives into the common myths surrounding retirement, challenging conventional financial wisdom. Is the belief that retirees will be in a lower tax bracket a myth? Forbes suggests it might be, and Steve shares insights into tax considerations in retirement planning. Plus, the hosts discuss the fascinating retirement plans of legendary filmmaker Tyler Perry and his creative app...

The episode unfolds the origins of target date funds, born out of the overwhelming choices investors faced in the late '90s. Steve sheds light on the limitations of these funds, emphasizing their focus solely on retirement date without considering individual risk tolerance, additional assets, or other crucial factors. Learn about the impact of market crashes on investment strategies and why target...

In this episode, Steve reflects on the importance of estate planning, emphasizing the need to align financial goals with individual values. From considerations of tax efficiency to leaving a lasting legacy, the hosts delve into the various aspects of estate planning, including wills, trusts, and the vital role of powers of attorney. The episode challenges listeners to think beyond the dollars and...

In this episode, Steve delves into the increasingly popular topic of 401K rollovers. A recent study reveals a surge of interest, with a projected 760 billion dollars in rollovers this year alone. Join Steve as he breaks down the intricacies of rollovers and how they can play a crucial role in your retirement planning. Discover four options available when dealing with a 401K. Steve sheds light on l...

In this eye-opening discussion, Steve delves into a recent study that grades retirement systems worldwide. The surprising revelation? The U.S. is awarded no higher than a C+. The focus of concern? The impending solvency crisis of Social Security, projected to hit by 2033. As Steve points out, this could lead to potential cuts in benefits, affecting retirees across the nation. Steve gives valuable...

As we prepare to step into a new year, predictions about the market are everywhere. In this episode, Steve breaks down insights from portfolio manager Adam Hetz on CNBC, emphasizing the potential impact of historic spikes in interest rates on the market through 2024 and 2025. Steve discusses the importance of staying invested during uncertain times but lean towards a defensive approach. They explo...

In this episode, we explore a tax-saving strategy that often goes unnoticed—Qualified Charitable Distributions (QCDs). As we approach the year-end, many individuals are considering charitable contributions, but not everyone can take advantage of tax breaks due to the standard deduction. However, for those aged 70 1/2 and older, QCDs offer a unique solution. Steve discusses insights from tax expert...

In this episode, we sit down with the legendary composer and record producer, David Foster, known for his remarkable work with artists like Céline Dion and Whitney Houston. Despite being a force in the music world, Foster shares his favorite financial advice, emphasizing the importance of saving and responsible spending. Then, Steve discusses the challenges individuals face when planning for retir...

Steve discusses the realities of the 9 to 5 grind and the financial challenges many face early in their careers. From TikTok woes to personal anecdotes, we discuss the pressures and stresses of the typical workday. Steve shares valuable insights on the importance of starting early when it comes to saving and investing, emphasizing the power of compound interest. Whether you're a recent graduate st...