The Best of Refining Retirement

Dana and Brad discuss the national debt and how it may affect you. Takeaways: - If you are worried about taxes going up in the future now is the time to develop your tax plan. - Spending tends to go up in retirement since you have so much more time on your hands. - Download our FREE helpful resource, “Inflation and Your Retirement” Our firm does not offer tax or legal advice. Consult your tax or l...

Dana and Brad discuss some common questions Brad receives about retirement Takeaways: - As scary as it may seem, it’s important to be prepared for the fact that you may become disabled in retirement. - If you have questions about your Social Security reach out and we will share the latest replay of one of Brad’s webinars covering Social Security. - Download our FREE helpful resource, “Social Secur...

Dana and Brad discuss different retirement accounts and the potential tax implications of each, as well as the current state of the job market. Takeaways: - A 401(k) rollover is the single largest transaction many people will make. It’s important to know the proper time to complete the transaction for tax purposes. - If you need to transfer jobs, it’s important to not forget about your employee sp...

Dana and Brad discuss the tragedy at the Kansas City Parade as well as the current tax landscape. Takeaways: - We’re not promised tomorrow, so make sure you have everything you need in order. - With everything going on that is out of your control, you can control your taxes with a proper plan. - Download our FREE helpful resource, “Are You Paying Too Much in Taxes in Retirement?“ Our firm does not...

Dana and Brad discuss the most searched investing and retirement terms on Google for last year as well as some of the investment vehicles that may be beneficial to you. Takeaways: - Statistically, women will outlive their spouses and will need to incorporate that into their retirement plan. When interest rates decline, stocks that pay dividends often become more attractive because of better yields...

Dana and Brad discuss current tips for Social Security as well as how debt may affect your relationships. Takeaways: - The Social Security Administration can no longer give you advice when it comes to deciding how you withdrawal your benefits. - It is important to discuss your debt(s) with your significant other so you can correctly prepare a savings/retirement plan. - Download our FREE helpful re...

Dana and Brad discuss current tips for Social Security as well as how debt may affect your relationships. Takeaways: - The Social Security Administration can no longer give you advice when it comes to deciding how you withdrawal your benefits. - It is important to discuss your debt(s) with your significant other so you can correctly prepare a savings/retirement plan. - Download our FREE helpful re...

Dana and Brad discuss estate planning and the psychological toll of retirement. Takeaways: - Make sure you have an estate plan established to potentially avoid hefty legal fees if there are any disputes. - Retirement is an abrupt change to your daily routine and can have negative effects on your physical and mental health if you do not adequately plan how you are going to spend your time. - Downlo...

Dana and Brad discuss problems that younger baby boomers face as well as the updated retirement account contribution limits for 2024. Takeaways: - If you lose 50% of your investment, you now have to make 100% of what you have to be where you started. - You can view the 2024 Roth IRA & 401(k) contribution limits by clicking here, https://www.irs.gov/newsroom/401k-limit-increases-to-23000-for-20...

Dana and Brad discuss the benefits of long-term care insurance as well as how the Secure Act may impact you. Takeaways: - Many adults have to rely on family for care instead of checking into an assisted living facility due to costs. - Long-Term Care can help cover any unexpected illness or injury, not just old age. - Download our FREE helpful resource, “Will Your Money Last As Long As You Do?” Sec...

Dana and Brad compare retirement in the United States with other countries. Takeaways: - Many Americans don’t have access to an employer sponsored retirement plan. - Social Security is projected to only pay $0.78 on the dollar by 2035. - Download our FREE helpful resource, “Your Retirement Income Planning Checklist” Securities and advisory services offered only by duly registered individuals of Ma...

Dana and Brad discuss how tax rates may affect your Social Security withdrawals. Takeaways: - You’ve got to be careful withdrawing Social Security while still receiving income because it is subject to tax. - You can view the federal income tax rates and brackets by visiting https://www.irs.gov/filing/federal-income-tax-rates-and-brackets - Depending on your situation, losses can hurt more than gai...

Dana and Brad discuss strategies for deciding when to take Social Security Takeaways: - You can schedule a complimentary meeting with us today to input your Social Security into our Strategic Retirement Plan software to help build your retirement plan. - You have one year after you start Social Security to change your mind if you discover that it doesn’t fit your retirement plan. If you choose thi...

Dana and Brad discuss how current events are affecting inflation. Takeaways: - Our new website is RefiningRetirement.com. Visit now to download our Complimentary Retirement Planning Bundle! - Medicare is a long, drawn-out process to get started, but you can reach out to a professional to help you make these important decisions. You can sign up for benefits at https://www.ssa.gov/. - The longer int...

Dana and Brad discuss preparing your estate as well as the different types of retirement accounts. Takeaways: - It may be a good idea if you have multiple children and trust them both, to make them Co-Power of Attorney on your will. - Tax-Deferred accounts are not taxed until you withdraw funds, and include accounts such as 401(k)’s, 403(b)’s, TSP’s, and IRA’s. - Download our FREE helpful resource...

Dana and Brad speak with Bill Bussing, an estate planning attorney in the Evansville area. Takeaways: - An important place to start is figuring out how everything you own is titled, because different types of ownership will affect your estate plan. - In Indiana you can add beneficiaries to your assets, i.e. real estate, to avoid the probate process. - Someone does not have legal authority to speak...

Dana and Brad speak with Elaine Sollars, a real estate agent in the Tri-State Area. Dana and Brad also discuss long term planning for your family. Takeaways: - It is important to find a realtor that you can trust when looking to move during retirement to ensure you find a place that fits all your wants and needs. - Before you move, evaluate the current equity you have in your home versus the total...

Dana and Brad discuss Peak 65, the time that more people reach age 65 than ever before in America. Takeaways: - Once we reach Peak 65, the retirement vehicles will have more stress added and that will affect everyone in the pre-retirement phase of their life. - The U.S. credit rating has been downgraded from AAA to AA+ by Fitch which could lead to long term investment implications. - Download our...

Dana and Brad discuss the current state of retirement savings for Generation X as well as some tips for when you are transitioning to retirement. Takeaways: - A study by the American Society of Pension Professionals and Actuaries found that the typical Generation X household only has $40,000.00 in savings and is woefully unprepared for retirement. - If you are divorced and certain requirements are...

Dana and Brad discuss the psychological freedom that comes with speaking with a retirement planner as well as downsizing in retirement. Takeaways: - It’s important to have multiple portfolios to protect you when you need to make withdrawals and the market is down. - If you are planning to downsize, evaluate the equity in your home compared to the interest rates, as well as the time and effort that...

Dana and Brad discuss five keys to a successful retirement plan as well as how couples need to work together on their retirement. Takeaways: - The Social Security Index tends to only keep up with 80% of inflation. - Women outlive men by an average of 6 years, therefore women’s life insurance is generally cheaper. - Download our FREE helpful resource, “Will Your Money Last as Long as You Do” - Plea...

Dana and Brad discuss the ways in which Social Security is subject to tax as well as the intricacies of life insurance. Takeaways: - Although they are guaranteed sources of income, pensions and Social Security aren’t worth as much as they used to be. - The average Social Security check is $1,400.00, while average monthly expenses are $4,000.00. - The Employee Benefit Research Institute surveyed an...

Whether it’s the threat of conflicts overseas, uncertainty about government policies, or the outbreak of a global pandemic, there could always be another storm brewing on the horizon. We can’t prevent these financial storms from popping up, but we can put strategies in place to navigate around them. For more information got to vinyardfinancial.com

Dana and Brad discuss the history of debt in the United States as well as familial retirement savings. Takeaways: - You can view the Federal Debt Timeline at this website: https://www.debt.org/faqs/united-states-federal-debt-timeline/ - In the United States, 1/2 of mothers do not have any retirement plan, while 1/3 of fathers do not have any retirement savings. - Download our FREE helpful resource...

Dana and Brad discuss parents sacrificing their retirement savings to help their children as well as travel tips and tricks. Takeaways: - It is important to not sacrifice your retirement savings to help adult children out. - Shop around to different companies whenever planning a trip to help ensure you get the best deal possible. - Download our FREE helpful resource, “Your Retirement Income Planni...