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

Many of us have experiences that we regret. How can we avoid these feelings in our retirement years? In today's episode, Scott shares common retiree regrets and practical strategies to sidestep them.   Here's some of what we discuss in this episode: 0:00 – Intro 7:13 – Waiting too long to retire 9:01 – Not having goals and a purpose in retirement 13:06 – Losing touch with family 15:16 – Not enjoyi...

In this episode, Scott is going to share some of the wisdom he gained from AE Wealth Management's Wealth Elite Symposium he recently attended in Nashville, Tennessee. This event featured esteemed speakers from Schwab, former writers for the Wall Street Journal, experts from Fidelity, and more. Listen in as Scott shares his takeaways on market risk, recessions, interest rates, generational wealth,...

In today's financial landscape, the market has been hitting new highs and interest rates remain at elevated levels. You might have even heard some of the buzz surrounding the Federal Reserve and interest rate adjustments. We're here to bring some clarity to the question on many investors' minds: What does all of this mean for my investments and retirement plans? Is all of this exciting or cause fo...

In today's episode, we're going to discuss the retirement hazard zone. This is the 10 years leading up to retirement and the first decade of retirement itself. Listen in Scott compares this period to driving through a construction zone, focusing on the need to slow down, think differently, and be prepared for the unexpected. Before we jump in, Scott will discuss the top 5 financial scams targeting...

Are you considering maxing out your 401(k) but unsure what to do next? We face this question all the time at the Sierens Financial Group so today we'll explore if it's wise to max out your 401(k) before investing anywhere else.   Here's some of what we discuss in this episode: 0:00 – Intro 2:44 – What's on today's show 4:33 – What's in the news right now? Spot Bitcoin was just approved by the SEC....

In today's show, we're going to share some crucial changes and strategies that will help you navigate your financial landscape in 2024. Scott will break down the latest adjustments you need to be aware of, from increased standard deductions to updates in Social Security and Medicare. We'll also share some strategic tips and tactics to position your tax and retirement plans for success in the comin...

We're sharing this month's mailbag episode a bit early, but we have 3 great listener questions lined up for today's show! Miyuki asks if Scott can explain more about tax harvesting and how to take advantage of a stock loss. Lauren asks about the tax consequences of withdrawing from the Roth side of her 401(k) after 2023. Click play to see what you can learn!   Here are the questions we discuss in...

From 24/7 TV channels dedicated to economic news to artificial intelligence, have the advancements in technology made you a financial guru or just more confused? Today, we'll explore how technology is reshaping financial planning, for better and for worse.   Here's some of what we discuss in this episode: Google is a powerful tool for immediate information, but it's important to use it with cautio...

In a world where technology has placed instant gratification at our fingertips, it can be hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we'll talk about some of the situations where you might be inclined to take the immediate benefit, when you should really consider the delayed rewards…   Here's some of what we discuss in this episode:...

It's the last week of the month, so you know what that means! We're back with a new mailbag episode. We've got some great listener questions lined up for you today, so stick around to see what responses and strategies might apply to your situation and help improve your financial picture.   Here are the questions we answer in this episode: I retired last month and started my state pension and Socia...

Are we on the brink of a retirement renaissance or stormy seas ahead? In this episode, we jump into the pressing issues of Social Security, taxes, and the stock market. Whether you're an eternal optimist or cautious pessimist, this episode will equip you with perspectives to plan your retirement years with confidence as we ask the longstanding question, "is the glass half full or half empty."   He...

The retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these essential questions about retirement. Listen in as Scott sheds light on the potential covera...

Ever thought that minor tweaks in your financial plan could lead to major wins? In this episode, we're exploring the surprisingly powerful world of simple financial adjustments. This episode is filled with straightforward changes that you can put into action now to generate positive effects on your financial life.   Here's some of what we discuss in this episode: Building up your rainy-day fund +...

Retirement is a unique journey for each of us. The thought that there's a one-size-fits-all solution is a myth, but what if we told you there are certain universal truths that can guide every retiree? Dive deep in this episode, where we juxtapose the individuality of retirement plans with the foundational principles that remain consistent across the board.   Here are the universal truths we discus...

We're back for our third and final week of answering listener questions about year-end tax planning. These episodes are a unique opportunity for you to gain insights from real-world scenarios and inquiries shared by our listeners. In this installment, we're delving into the crucial concept of tax diversification, exploring methods to optimize your tax deductions for charitable contributions, and m...

Today, we're diving into the listener mailbag once again, to answer your questions on tax planning and strategies for the year ahead. As we approach the end of the year, it's crucial to get your financial ducks in a row so that you can keep more of your hard-earned money. Scott offers valuable insights on whether to file taxes jointly or separately, how IRMAA can affect your Medicare premiums, tax...

As we move into the fourth quarter of the year, let's take a little time to focus on year-end tax planning. We're opening up the listener mailbag and pulling out questions asking specifically about taxes and tax planning. We'll be taking strategies and opportunities discussed last episode and apply them to certain real-life situations.  No matter where you are today, use these questions today to s...

As we move into the fourth quarter of the year, now is the time to be looking ahead and determining what year-end tax planning and retirement planning opportunities and strategies might be available to you. Evaluating where you are today and making the necessary changes can have a very positive impact on your financial position moving forward. Regardless of your situation, this episode will help y...

In today's show, we're going to open up the listener mailbag and answer questions about pension selections, questions about the challenges you could face if there's an age gap between you and your spouse, and then discuss the hidden costs you might not be seeing in your retirement income.   Each of these questions we'll tackle today cover pretty common scenarios so you might find wondering about t...

In today's episode, we delve into a critical aspect of retirement planning that can significantly impact your financial future – Required Minimum Distributions (RMDs). Whether you've stashed your savings in a 401(k), 403(b), 457, IRA, SEP IRA, or simple IRA, understanding RMDs is crucial, especially if you're approaching your seventies.   Join us as we discuss the "why" and "how much" of RMDs, ens...

Are you expecting an inheritance, or planning to pass down assets to your loved ones? It's crucial to understand the potential tax implications that come with it. In this episode, we're diving deep into the world of inheritance taxes.   Key discussion points in this episode: If you inherit real estate, the property's value is adjusted to its current market value when you receive it. If you sell it...

Many say that age is just a number, but when it comes to retirement planning, age means much more than that. Join us in this insightful episode as we delve into the world of financial milestones that can significantly impact your retirement planning. From age 50 to 75, we uncover the strategies, opportunities, and pitfalls tied to these pivotal years. Learn why age isn't just a number when it come...

We're back with another mailbag episode today! Join us as we tackle a range of topics- from navigating investments during significant life changes to figuring out a retirement travel spending amount, this episode covers a lot of ground. Scott is here to answer your questions, so stick around to see what you can learn.   Here are the questions we'll answer on today's show: I have a lot of major lif...

Recent headlines are buzzing with talk of inflation, recession, and their potential impact on your retirement plans. Should you be concerned? In this episode, Scott takes you through a comprehensive breakdown of these headlines and what they truly mean for your financial future.  By understanding how inflation, recession, and Social Security interplay, you can better navigate the complexities of r...

Scott recently came across an article that discussed 8 ways the richest Americans avoid paying taxes. While many might think that these strategies wouldn't apply to their financial situation, we're going to discuss how you can apply these tactics to potentially reduce your taxes. Stay tuned as Scott breaks down these 8 strategies! Here are the 8 strategies that we'll discuss:  1.    No Taxes on Un...