How to Retire on Time

“Hey Mike, can you break down the differences between Social Security, a pension, and an annuity?” Listen to an honest comparison of Social Security, pensions, and annuities, when it makes sense, and how they can affect your tax planning. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, can you explain how picking a Medicare plan can affect my taxes? I don’t believe that’s a true statement.” Discover some commonly missed pitfalls in retirement when it comes to healthcare and taxes. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, how do you plan so you don’t run out of money?” Discover the reality of retirement planning and how you can’t not take risks. This episode covers various ways to approach your retirement in an effort to decrease risk while maintaining lifestyle flexibility for the future. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I’ve never worked with a financial professional before. What should I expect?” Discover potential red flags you can identify in the first appointment and what a first appointment should look like. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I’m in my 40s and trying to prepare for retirement. What tips would you give someone in my position?” Discover what can do to help you have more investment options and potentially be more strategic in the growth of your assets as you prepare to retire on time. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, with interest rates going down and savings, CDs, and bonds going down with it, where should I go for protection with better growth potential?” Discover various investments and products that offer principal protection and growth potential, and their associated benefits and detriments. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I was pitched an annuity with something called a trigger rate. What is that, and is it worth it?” Discover the nuance found within fixed-indexed annuities and their cash value growth potential. Remember, there’s no such thing as a perfect investment, product, or strategy. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, it’s Open Enrollment season for senior benefits. What should we know before we review our options?” Discover conflicts of interests, potential tax problems and more when it comes to your senior healthcare plans and open enrollment season this year. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, how do you go through the process of selling a business?” Discover the steps you may want to take before you put your business up for sale so you can potentially get more money out of the sale.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I’m having a hard time understanding how income works in retirement. I don’t have a pension. Can you explain how people generate income in retirement and why they pick certain strategies?” Discover the benefits and detriments of various income strategies that you can implement from your 401k when you retire.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I’m retired and going crazy. What should I do?” Discover how to design your retirement lifestyle to help you feel happy and fulfilled.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I’m 65 and looking at my healthcare options. What do you recommend?” Discover the difference between traditional senior healthcare, supplement plans, and advantage plans and how they also can play a role in your tax planning. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, how do you do year-end tax planning? Discover why there’s more to do at the end of the year than figure out how much you want to convert from IRA assets to Roth assets. Year-end tax planning may also include gifting planning, healthcare planning, and income planning for the next year. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, what do you think about the bucket strategy?” Discover how the bucket strategy works when it comes to your retirement income so you can determine if it is right for you or not.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I’m having a hard time understanding fees. I am paying my current advisor 1%. All of the mutual funds he has recommended have fees as well. Is this normal?” Get Mike’s not-so-common opinion on advisory fees.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, can you give a generic rundown of different investments and when they should be used?” Enjoy a high-level discussion of various investments and products, their benefits and detriments, and when you may include them in your portfolio. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I’m struggling with understanding how to generate income from my 401(k). Can you break down your steps and strategies?” Discover some of the basic ways you can turn your 401(k) into a retirement income strategy. Hint: there are more ways to generate income in retirement than lifetime income streams from annuities.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, what is the best way to invest in real estate for retirement income?” Discover various ways to add real estate to your portfolio and why your age and real estate experience may play a factor in your decision. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I feel like I am taking too much risk but keep getting reassured that I am fine. Can you expand on how to self-assess the appropriate amount of risk a person should take?” Discover why taking a suitability intake questionnaire may not be enough and what you can do to help find the right risk balance in your portfolio. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I’ve been reading about indexed-universal life insurance and how it can be a tax-efficient income stream in retirement. I can’t find the downside. What am I missing?” Discover the benefits and detriments of indexed universal life insurance when it comes to your retirement plan. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, how often should a person review and rebalance their portfolio?” Join Mike and David as they discuss when it may make sense to rebalance and when it may make sense to leave your portfolio alone. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, how should self-employed people save for retirement? For example, should we fund SEP-IRAs? SIMPLE IRAs? It’s a bit confusing, at least for me.“ Discover different ways you can save for retirement if you are a small business owner.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, how can you recommend annuities and call yourself a fiduciary? They are full of fees and make insurance companies rich while you get little, if any, back.” Discover the reality of annuities sales and what is going on behind the scenes. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, can you define what ‘like-kind’ means when it comes to 1031 exchanges?“ Discover various investment options for those who are trying to get out of their investment real estate but don’t want to pay an arm and a leg in taxes.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, everyone says they do tax planning, but very few people talk about anything beyond IRA to Roth conversions. Is that really all tax planning is?” Discover what you should expect when it comes to tax planning in retirement. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I’ve had an annuity for a few years, and it hasn’t grown much. What are my options and can I get out of it without paying taxes or a surrender penalty?” Discover why some annuities can’t grow their cash value and what you can do about it. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, how do you plan for retirement if you have a lifetime pension?” Discover risks around the pension and what you could do about it to help prepare for your lifestyle needs in the future.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, are you concerned about the national debt? Also, how will the debt affect the markets?” Discover why that national debt should concern those who are buying annuities for guaranteed income for life. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I am 60 years old and am being told that I should have 60% of my money in bond funds. When I ask why, I don’t feel like I get a straight answer. Do you agree with this proposal?“ Discover why it may not make sense to continue to grow your bond fund exposure as you get older. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I have always managed my assets on my own. At some point, I know I won’t have the energy or interest to continue to manage my assets. How does someone vet an advisor and then slowly turn things over to that advisor?” Discover how to create a potential backup plan for your spouse when you pass or struggle to maintain your portfolio management. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, how do you expect the Fed decreasing rates will affect the markets and economy?” Discover how the market and your investments could be affected by decreasing interest rates. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I know I am taking too much risk, but I can’t seem to get myself to be OK with anything that is illiquid. Are there other ways I can fund a reservoir without losing my liquidity?” Discover different ways you can potentially lower your market risk when losing liquidity is an issue. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I am trying to figure out how to generate income in retirement, but everyone I talk to who says they specialize in income planning sells annuities. What other ways are there to plan income in retirement?” Discover 10 ways you can generate income in retirement and how you can potentially blend them for income diversification. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, my husband has become very ill and is not expected to live much longer. He has lived a wonderful life and will be missed. Among the many things I am concerned about as a soon-to-be-widow, I am most concerned about how to handle the finances when he passes. Any general advice?” Discover what you should expect when your spouse passes away in retirement.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

Have you ever received an invitation to a dinner event that will discuss retirement preparation? Have you ever wondered what is really going on? Listen in as Mike exposes why many financial professionals do these events, what’s in it for them, and what’s really behind many of the common talking points.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, what do you think of long-term care insurance?” Discover why Mike says “If you need it, you probably can’t afford it and if you can afford it, you probably don’t need it.” Learn about alternative ways you can prepare for your future healthcare.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, if I were to get into one of these DSTs, how would I get out?” Discover the various ways you can get into a DST and your various strategies on transitioning your assets, tax efficiently, to other investments or products.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

Hey Mike, why do you recommend active management for IRAs and Roths and passive management for TOD accounts? Discover why you may want to manage your qualified accounts differently than your non-qualified accounts when it comes to growth strategies.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I just read your Kiplinger Article titled Five Ways to Lower Your Risk in Retirement that was published this morning. I want growth and protection, but I’m concerned about not having enough liquidity. How do you find the right balance?” Discover why it’s hard to design a portfolio and determine how much protection you should have without putting together a plan first. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, how much do you need to comfortably retire?” Discover the nuance of trying to figure out if you can afford to retire. Hint, it’s more than a dollar amount in your accounts. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, how do you do tax planning with a pension?” Discover an unusual tax minimization strategy for those who have pensions. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, how do you think the election is going to affect the market going forward?” Discover why adjusting your portfolio around election predictions may not be a good idea. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I’m working with two financial advisors right now. They always seem to contradict each other. Is that normal?” Discover how to navigate the confusing opinions of financial professionals so you can proceed with a plan that is right for you. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I’m concerned the market will crash soon. What do you recommend people do before a market crash?” The answer may surprise you. Discover unconventional ways to prepare for a potential market crash. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I read your Kiplinger article about Social Security optimization, but am unclear when I should file. I plan to retire at 62 and intend to file for Social Security when I retire. Should I change when I file?” Mike has a saying: "If you file too early, your income could be hurting; if you file too late, you could be hurting your estate." Listen to discover how taxes, income, etc., are all connected and can influence when you file. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

“Hey Mike, I’m 67 years old and am concerned about required minimum distributions. I don’t want to be forced into paying too much in taxes. Most of my assets are in my Traditional IRA, but I don’t need them; I live off my pension and Social Security. What should I do?” Text your questions to 913-363-1234.Request Your Wealth Analysis today by going to www.yourwealthanalysis.com

“Hey Mike, you’ve spoken about DSTs, but only at a high level. Can you give a more detailed answer, sharing exactly what they are, how they work, and the process it takes to sell a property, defer the taxes, and move the funds into a DST?” For anyone who has rental income property and wants to be free of the burden of tenants, toilets, and trash but wants to examine the ways to do it tax efficiently. Text your questions to 913-363-1234.Request Your Wealth Analysis today by going to www.yourwealthanalysis.com

“Hey Mike, I am 45 years old and recently decided that I’m done with work and want to retire at 50. Most of my assets are in my 401k, though. What can I do?” Listen to understand the pros and cons of retiring at an earlier age and what it might take to accomplish you goals. Text your questions to 913-363-1234.Request Your Wealth Analysis today by going to www.yourwealthanalysis.com

"This is a touchy one." In today's episode, Mike describes why he almost never recommends variable annuities but is willing to articulate when one could make sense. Variable annuities are one of the more complicated insurance products out there, so listen for more clarity on what annuities are, when they make sense, and which type could be right for you. For the record, Mike is licensed to sell variable annuities but has never actually sold one because he has never experienced a situation where it made sense. This episode is intended to address the question presented. Text your questions to 913-363-1234Request Your Wealth Analysis today by going to www.yourwealthanalysis.com

In today's episode, Mike shares what it means to "create a retirement plan designed to last longer than you." This is not done through buying an annuity and turning on a guaranteed-for-life income. Discover various ways to structure your portfolio as you prepare for, enter, or maintain your retirement. The key phrase is "Plan Efficient Growth Portfolios."Text your questions to 913-363-1234Request Your Wealth Analysis today by going to www.yourwealthanalysis.com