The Retirement Show: Your Life, Your Money with Scott Sierens

Are you thinking about taking Social Security at age 62? That's what many Americans consider when they approach Social Security age, but just because you can take it early doesn't always mean that you should. Claiming too soon could shrink your benefits for life so it's not a decision you want to rush to make. If you can check the box on one of the three situations we're going to discuss in this v...

As you save for retirement, it's not just about having a retirement account, it's about having the right types of accounts and knowing how to use them most effectively. So today's video will break down the four most important retirement accounts you should consider having and the strategies you can implement to get the amount of income in the most tax efficient way. Here's some of what we discuss...

Heading into retirement should feel like freedom, but too many people carry financial clutter into this next phase of life, creating confusion, missed opportunities, and unnecessary stress. In this week's show, Scott outlines three key areas to simplify before you retire: your bank accounts, your investment and retirement accounts, and your overall strategy. Here's some of what we discuss in this...

When ​the ​market ​is ​down, ​it ​can ​make you ​feel ​pretty ​uneasy. ​Emotions ​can ​rise and panic can feel like the natural response, especially when you're nearing retirement. You ​spent ​decades ​just ​saving ​to ​get ​to ​this ​point, ​and ​now ​you're ​watching ​your ​retirement ​savings ​drop ​in ​value. You ​might ​be ​wondering ​what ​changes ​you should ​make. ​Should ​you ​move ​to ​c...

You've saved up $2.5 million and you're wondering whether you can buy a vacation home or whether you should just do a long-term rental. Maybe you should just scratch the idea altogether. This is a conversation we have with clients and today's show is going to walk you through how we help determine if the vacation home is going to work with a hypothetical case study. Here's some of what we discuss...

We talk a lot about taxes because they're going to be a huge expense for you in retirement, which is why many people ask about Roth conversions. It's a strategy that could potentially save you money in retirement, but the truth is that Roth conversions aren't for everyone and could actually cost you money. In today's show, we'll walk you through the five reasons why it might not make sense for you...

Once you reach your early 60s, you're in a window of time where the moves you make will drastically shape the next 30 or 40 years of your financial life and taxes. The right decisions can put you in a great position for retirement but the wrong decisions can leave you playing catch-up. In this video, we're going to walk you through the three most common (and costly) mistakes people make during thi...

Social Security is a key part of maximizing your retirement story. The decisions you make about when and how to claim it can have a big impact on how much you keep versus how much goes to the IRS. In today's show, we'll break down 3 common Social Security tax mistakes- some of which could cost you big- and how to avoid them. Here's some of what we discuss in this episode: 0:00 – Intro 1:51 – Mista...

Are you prepared for hidden tax traps in retirement? Many retirees assume their tax rates will go down, but for those with significant savings, unexpected tax burdens could cost them thousands of dollars each year. Today, Scott Sierens, CFP®, uncovers three major retirement tax traps that could push you into a higher tax bracket, increase your Medicare premiums, and reduce your Social Security ben...

How much can you really spend in retirement without running out of money? In this debut episode of The Max Retirement Show , Scott breaks down the biggest retirement spending mistakes, why the 4% rule might not work for you, and how to create a dynamic spending plan that adapts to market conditions, taxes, and life changes. Plus, Scott answers a listener question about annuities vs. brokerage acco...

Are you starting to feel like you might be ready to retire but can't quite pinpoint why? If so, today's episode is perfect for you! We'll explore five clear signs that it may be time to move on to the next chapter of your life. Join Scott as he breaks down these key indicators, including one crucial sign that should apply in every case- being financially prepared to take that next step. Don't miss...

Big changes are on the horizon for 2025, and this episode is all about keeping you in the loop. From updates to 401(k)s, Social Security, and Medicare to new tax brackets and changes for inherited IRAs and HSAs, we're covering it all. Whether you're retired, approaching retirement, or just beginning to map out your plans, this discussion is for you.   Here's some of what we discuss in this episode...

Scott recently met with a prospective client who asked, "Why isn't the transition into retirement easy?" While there's no "easy button" for retirement, it doesn't have to feel overwhelming or confusing either. In today's episode, Scott explores why retirement, or the transition into it, might feel difficult, and why many people find the process more challenging than expected.   Here's some of what...

A random, retired YouTuber did a simple video exploring the top 5 regrets from other retirees he interviewed (all in their 70s). It blew up to almost half a million views (and counting). In today's episode, we're diving into three of the most impactful regrets from this list and offering proactive steps you can take to avoid making the same mistakes in your own retirement.   Here's some of what we...

How do you know when it's time to make updates to your retirement plan? With a personal story as the backdrop, Scott explores two major categories of life changes that can (and should) influence your financial strategy. The first category revolves around changes in financial needs. Whether it's an unexpected job change, a decision to retire earlier than planned, or simply wanting to take on new tr...

In this second part of our year-end tax reduction series, we dive deeper into actionable steps to reduce your long-term tax burden. If you missed part one, we discussed what makes up taxable income, tax planning vs. tax preparation, and got into some year-end tax planning strategies. In this episode, we're shifting the focus to strategies you can implement now to minimize your future tax liability...

You've worked hard for your money, and naturally, you want to keep as much of it as possible instead of handing it over to Uncle Sam. Fortunately, there are smart strategies to help reduce your tax burden and keep more of your earnings where they belong- in your pocket. And, as the end of the year approaches, it's the perfect time to start thinking about these tax reduction strategies. In part one...

Feeling uneasy about your finances with election season approaching? You're not alone. Political uncertainty often raises questions about market stability, and it's easy for that anxiety to seep into concerns about your retirement savings.  Join Scott as he breaks down market trends during election years, and explores how elections can affect retirement accounts like IRAs and 401(k)s. Don't miss t...

When you're nearing retirement, a lot of questions can arise when it comes to decisions around your 401k. In this episode, Scott answers 5 frequently asked 401k questions- specifically for those nearing retirement.  Don't miss out on this essential guide to managing your 401(k) as you approach or enter retirement! Here's some of what we discuss in this episode: 0:00 - Intro 4:16 – Using target dat...

Did you know that the first week of August was National Simplify Your Life Week? Just as decluttering your home can ease the stress of cleaning and upkeep, decluttering your finances can reduce stress when it comes to planning for your retirement. Join Scott as he outlines five key strategies to simplify your retirement plan and reduce stress.  Here's some of what we discuss in this episode: 0:00...

With Fourth of July celebrations recently behind us, we're focusing on the theme of independence in today's episode. But this isn't just about whether you've saved enough money for retirement. Instead, we'll explore different categories that contribute to our sense of independence in retirement.   Here's some of what we discuss in this episode: 0:00 – Intro 2:00 – Independence from employment 9:10...

We hear a lot of half-truths in the financial world. This isn't necessarily because people try to make misleading statements, but because sometimes a simple statement just doesn't quite tell the whole story. Listen in as Scott shares a few examples that show that, while common financial advice can be helpful, it's important to dig deeper and understand the full scope of your retirement needs durin...

We're thrilled to welcome Lauren Jackson, an experienced attorney based in Illinois, to our podcast today! With over two decades of legal expertise, Lauren specializes in real estate, estate planning, and probate law. Today, she's here to demystify the world of estate planning and offer invaluable insights to our listeners. Here's some of what we discuss in this episode: 0:00 – Intro 6:25 – Why do...

Do you need life insurance once you've retired? We get this question all the time in our office. And, as with most things in financial planning, the necessity of it depends on your situation. So, in today's video, Scott is here to share some examples of why one would or would not need life insurance in retirement. Here's some of what we discuss in this episode: 0:00 – Intro 5:20 – Focusing on your...

Navigating Social Security can feel confusing. With a sea of information out there it's hard to discern what's fact and fiction. In this episode, Scott addresses five common statements about Social Security and breaks down whether they're true or false.   Here's some of what we discuss in this episode: 0:00 – Intro 1:04 – Average retirement spending for 65-year-old 7:47 – Social Security taxes 13:...