The Truth About Taxes and Retirement

Taxes, the hidden burden that comes around once a year to reap the benefits of your hard-earned money. What we say to this is; put yourself in a position to pay the least amount of taxes possible so that you can save more money for your future. In this episode, J Barry Watts and Philip Brown highlight three key ways to protect your money from taxes, allowing you to retain more of your income and u...

Your cash accounts should be secure, liquid, and protected. Even during times of uncertainty.  This account may sound too good to be true. But, we promise you it’s not. It’s actually only a phone call away. In this episode, J Barry Watts addresses the uncertainty swarming the market and the account he recommends to combat it, ensuring your money is safe, accessible, and protected to guarantee the...

There is a lot going on in the market right now and knowing how to react and when to react to protect your financial future can be tricky.  Luckily there are some key concepts that can help you keep your 401k (and your future) from going over the cliff.  In this episode, Barry Watts discusses the myths surrounding safe 401k investment strategies and walks through key concepts that will help you ma...

Starting a business is hard work. If you eventually sell that business, you likely want to maximize your pay day.  We’ve never met anyone who wants to pay more in tax, but yet, a lot of people do. One of those areas that often gets overlooked is capital gains on the sale of stock in a small business. In this episode, J Barry Watts discusses section 1202 of the internal revenue code. The section is...

Where does income in retirement come from? What strategies are there to manage your income in retirement to ensure you stay retired? If these are questions you find yourself wondering, this is the episode for you! In this episode, J Barry Watts gives an overview of a few strategies you can use to ensure your income in retirement supports your retired life. Barry discusses: What are dividends and h...

The structure of your business can have a huge impact on your bottom line after taxes. Whether starting a new business or saving taxes by restructuring your existing one, understanding how different business structures impact the taxes you pay helps you save thousands of dollars each year.  In this episode, J Barry Watts of WealthCare Corporation discusses the various business structures you can a...

What kind of credentials does your financial advisor have? If you are working with an advisor with a credential of some type, what might cause your retirement plan to fail anyway?  In this episode, J Barry Watts dives into the various credentials a financial advisor can carry, and shares the difference between many of those credentials. Barry details a little about the history of advisor credentia...

Are you sitting on cash, afraid to invest it in the markets during this crazy time in our country? Are you unsure what to do?  Well, you’re not alone. In this episode, J Barry Watts speaks simply about what to do with your cash now. Barry details three steps to take, including why it is important that you stay invested. Barry also shares why so many people are feeling uneasy about what to do with...

Have you ever wondered exactly what a good financial advisor is supposed to do for you? There are five habits of highly effective advisors to retirees, and if your advisor is not doing these things for you, it might be time to consider a change? In this episode, J Barry Watts teaches you about the five habits of highly effective advisors to retirees. Barry explains each habit and what it would loo...

There’s a lot of talk in Washington about potential new taxes, but what impact will those changes in tax law have on you personally? In this episode, J Barry Watts unpacks the impact proposed tax law changes may have on you in before or in retirement. Barry covers some of the proposals in President Biden’s Build Back Better agenda. He explains how legislative risk can evolve over time to greatly i...

What will taxes be like for you in retirement? Have you ever thought about that?  In this episode, J Barry Watts teaches you how to reach the 0% tax bracket—or at least to get your taxes as low as they can be. He explains why there are some who cannot reach the 0% tax bracket, and discusses “the Three Tax Buckets.” Barry discusses: Who is unable to reach the 0% tax bracket  The three types of mone...

The upcoming holidays present a wonderful opportunity to have important conversations with your family about many things, including topics such as healthcare planning, funeral planning, and who will get what. In this episode, J Barry Watts helps you understand how you bring these topics up to aging parents while the whole family is around. It’s important that these conversations happen before pare...

Would you like to put $58,000 into a Roth IRA this year, then grow that money, tax-free, until you retire, and then take it out as tax-free retirement income? In this episode, J Barry Watts introduces the mega back door Roth IRA strategy. He shares how some individuals can contribute $58,000 to their Roth IRA, despite traditional limits on contributions. Barry covers what you need to understand ab...

Are you truly wealthy or working wealthy? What’s the difference between the two? For moderately wealthy people who don’t believe they have any tax strategy opportunities, this episode is for you. In this episode, J Barry Watts introduces a tax strategy and draws the line between the truly-wealthy and the working-wealthy. Barry also emphasizes the … Continue reading 31. How the TRULY-WEALTHY & the...

Have you ever considered opening a trust for your family? Legacy trusts can ensure your family’s legacy for generations to come. In this episode, J Barry Watts discusses trusts and how valuable they can be to your family. Barry simplifies and answers questions you may have regarding trusts. Barry shares why people don’t have trusts, … Continue reading 30. Strengthening Your Family Through Legacy T...

How do you figure out the required minimum distributions (RMD) on your retirement accounts? What are the taxes? Can you reduce or eliminate the taxes? In this episode, J Barry Watts and Eric Burlison look at four ways you can reduce or eliminate the taxes owed on your RMDs. Barry and Eric remind listeners of … Continue reading 29. Reducing Taxes on Your IRA or 401(K) Required Minimum Distributions...

Estate planning can be complicated and may involve some uncomfortable conversations with family members and loved ones, albeit necessary. You want to be sure that your estate is going to the right people in the right order. In this episode, Barry Watts uncovers the mystery of estate planning. Barry looks at multiple legal mechanisms used … Continue reading 28. Taking The Mystery Out of Estate Plan...

Historically, many Americans have planned to rely on Social Security to get them through retirement. But what happens if Social Security isn’t enough to help you secure the retirement you want and know you deserve? In this episode, J. Barry Watts discusses some of those tough questions about Social Security, and helps you to understand … Continue reading 27. Everything You Ever Wanted to Know Abou...

Not managing your sequence of returns risk properly could damage your retirement. In this episode, J Barry Watts helps you understand how to protect yourself and your retirement from this type of investing risk. He helps you understand what a sequence of returns is, how it can hurt your retirement, and how to manage the … Continue reading 26. Don’t Let This Devastate Your Retirement →

Do you know which fees you pay on your investment account? How much are they? And if you don’t know, shouldn’t you? How can you find out what these fees are and where they come from? In this episode, J Barry Watts and Eric Burlison provide you with all the information you need to better … Continue reading 25. Understanding the Investment Fees You Pay →

We know that risk is always involved in investing—in fact, we know that past performance cannot guarantee future results.  However, there are tools and strategies that exist that can help you protect your investments and your retirement from risk. In this episode, J Barry Watts speaks about tools that you are able to take advantage … Continue reading 24. How to Protect Your Investments and Retirem...

Every single person is unique, and with that, comes a unique level of risk tolerance within their portfolio.  In this episode, J Barry Watts and Eric Burlison discuss risk and volatility as it pertains to your portfolio, and how you can understand what your own personal risk tolerance is. Barry and Eric use examples of … Continue reading 23. How Risk Impacts Your Retirement →

When it comes to retirement, there are a lot of questions that you should be asking yourself to prepare. However, there is one very important question that people don’t always take the time to think about.  In this episode, Barry Watts speaks about what questions you should be asking yourself as you plan for your … Continue reading Episode 22 – Your Biggest Retirement Question →

When it comes to planning for long-term care, your health is just as important as your wealth in helping you qualify. In this episode, Barry Watts discusses new ways to pay for long-term care, and the importance of planning for long-term care before it is too late! Barry shares the options available to you and … Continue reading Episode 21 – New Ways to Pay for Long-Term Health Care →

Have you ever been in the situation where you are meeting with someone about your finances and you just can’t seem to answer their questions?  This problem happens more frequently than you might think, and we are here to help you never be in that situation again!  In this episode, Barry Watts goes through nine … Continue reading Episode 20 – Questions You Must Answer Before Visiting a Retirement D...