How to Retire on Time

“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

In today's episode, Mike discusses term life insurance, when it makes sense for the beginning of your retirement, and when it does not make sense for any part of your retirement. Explore other alternatives to term life insurance. Remember, life insurance is NOT an investment and should not be treated as such. Text your questions to 913-363-1234Request Your Wealth Analysis today by going to www.yourwealthanalysis.com

In today's episode, Mike discusses the various ways in which interest rates going down could affect the market. He also breaks down how interest rates affect younger and older investors differently. Discover how to take advantage of higher interest rates as you create a retirement plan that's designed to last longer than you™.Text your questions to 913-363-1234Request Your Wealth Analysis today by going to www.yourwealthanalysis.com

"Money goes where money can grow" In today's episode, Mike talks value funds. What are they? Do they still provide a lot of value? Listen to Mike identify what made value funds great decades ago, and how their offer in today's market has evolved since then. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

"If you don't know the right questions to ask, you'll never ask them." In today's episode, Mike discusses the Dunning-Kruger effect, false confidence, and potentially missing out on opportunities because someone lacked sufficient experience. Discover when it may make sense to DIY your retirement and when you may consider asking for help. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

In today's episode, Mike discusses strategies you can employ if you have an inherited or beneficiary IRA. Discover various strategies, some of which you probably didn't know existed, that may be able to help you minimize your overall tax burden while still focusing on your overall growth.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

In today's episode, Mike addresses the fear of running out of money in retirement. The answer is not always buying a bunch of annuities for lifetime income. Discover counterintuitive portfolio management systems that can help you lower your risk without locking up assets for life. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

In today's episode, Mike explains why he believes fixed-indexed annuities have more growth potential than CDs or Treasuries in the long term. Mike explains how they work from a cash accumulation standpoint while offering a few tips on how to vet them. Not all fixed-indexed annuities are the same. If you decide to explore this possible part of your portfolio, make sure you proceed with caution. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

In today's episode, Mike talks to people who are wanting to retire around 60 years of age, but have concerns with how to cover healthcare while waiting for Medicare. How does Mike suggest you bridge that gap? What are the tax implications? What about healthcare insurance premiums from age 60 to 65? Should you delay retirement or get a part-time job for the healthcare benefits? All of this and more is discussed in this common, potentially tricky situation. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

In today's episode, Mike explains why managing a portfolio without a relationship with a licensed financial professional may be more limiting than you realize. Discover when it may make sense to be 100% DIY and when you may need to work with an advisor. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

In today's episode, Mike tells us how to create a retirement plan out of a 401(k). Is accumulating assets in your 401(k) during your working years a set-and-forget guarantee for retirement bliss? What happens when you retire and need to draw income from your retirement account? Discover ways to take your 401(k) and turn it into a tax-efficient retirement plan. If you are within 10 years of retirement and you have a 401(k), this episode is for you.Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

In today's episode, Mike discusses all the intricacies associated with managing a portfolio while trying to beat the market. Discover why the statistic that claims no one can beat the market may not be as certain as many would suggest. Answer questions like, "Can I ride a stock/bond fund portfolio all the way into retirement bliss?" Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

In today's episode, Mike talks about employer-sponsored 401(k) retirement plans. How can you be proactive with a 401(k)? Should you keep all of your retirement savings in the 401(k) or roll it over to an IRA? Should you fund the pre-tax part or the after-tax part of your 401(k)? There are more strategies than you may realize. Discover what may be missing when it comes to your 401(k) and your retirement. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

In today's episode, Mike discusses the various ways you can invest in real estate, from traditional rental real estate to Real Estate Investment Trusts, Delaware Statutory Trusts, and more. Find answers to these questions and more in this episode. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

"You can't change horses midstream", or so goes the old saying. In today's episode, Mike discusses when or if it makes sense to change, or surrender an annuity, and pay the penalty or fees. What situations are beneficial to include an annuity as part of your retirement plan? If you have one, and the rates drop, should I get out of it? Does paying the surrender penalty make sense to find a better one? What are the annuity bonuses all about? All of these questions are answered and more, in this episode of How to Retire on Time. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

In today's episode, Mike gives tips and general advice for those planning their estate. There are many things to consider when planning your estate, from tax planning, IRS codes, legacy plans, gifting and legal issues. This is why it is very important to have a team helping you plan your estate: a tax professional, a financial professional, and an attorney when making these decisions. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

In today's episode, Mike talks Social Security optimization. "If you file to early, your income could be hurting; if you file too late, you could be hurting your estate." Listen to find out the benefits and detriments of filing early, versus waiting until 70 to file. It may make sense for you to file early or late, depending on your lifestyle and legacy plans. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

In today's episode, Mike lays out the case for the DIY investor, and also the benefits of working with a licensed financial professional. What kind of research can you do on your own? What does a licensed financial professional know, and have access to that you don't? Do you have a plan that's answering the questions that you may not know to ask? Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.

On today's show, Mike breaks down some common retirement income strategies, and discusses the benefits and detriments of each. Some of the strategies mentioned in this episode include: cash value life insurance, universal life policies, CD's, Treasuries, Fixed Annuities, and Fixed Index annuities. Are you worried that your CD won't keep up with inflation if the Fed lowers rates? Listen to hear what Mike has to say about these income options, as retirees (or folks near retirement) try to balance principal protection with growth. Text your questions to 913-363-1234.Request Your Wealth Analysis by going to www.yourwealthanalysis.com.