The Get Ready For The Future Show

I'm 62 and want to retire, but my wife wants to delay taking Social Security - what are the risks and benefits? On this week's Get Ready For The Future Show, we're answering YOUR questions What are the best available options to retire if I'm self-employed? Does it hinder me to invest in Target Date Funds? Should I start a business to help keep track of my side gigs? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]!   Originally aired 5/15/2024

Planning for a long life and not getting it is better than not planning for it and getting it! Scott explores planning for longevity risk on this episode of the Fastest Four Minutes in Finance! 

I love my job and want to keep working, but my wife wants to retire. Can she go ahead and do that while I keep working? On this week's Get Ready For The Future Show, we're answering YOUR questions! How do you determine your contribution rate if your income is variable? If I got an inheritance, should I pay down house debt or invest more in retirement? What should I do if I have to take RMDs, but don't need the money yet?  And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]!   Originally aired 5/8/2024

The SECURE Acts have paved the way for annuities to be offered in employer retirement plans, and surveys show that American workers are interested in investing in them. In this week's Fastest Four, Scott explores the latest trends in annuity sales and the growing demand for guaranteed lifetime income, especially among pre-retirees. But also the complexities of annuities and why it's important to work with a financial advisor to determine if an annuity is even right for you.

How can I prevent my money from getting taxed again as added income? On this week's Get Ready For The Future Show, we're answering YOUR questions! Will selling my business be enough to fund my retirement? How can I better understand my risk tolerance? How do we know if it's okay to retire early? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]!   Originally aired 5/1/2024

Is the famous "Sell in May and Go Away" investing strategy worth following? Scott's taking a look at the historical performance of the markets in the May-October period in this week's Fastest Four and the question, "Is timing the markets like this a wise investment strategy?"

In what order should we draw down accounts prior to Social Security and after work? On this week's Get Ready For The Future Show, we're answering YOUR questions!  We are wondering how to decide which account to fund more? 401(k) or Roth IRA? What are your thoughts on Tax Rates and Standard Deductions changing in 2026? I'm nearing age 55 and am trying to decide if should I start paying down my mortgage more aggressively?  And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]!   Originally aired 4/24/2024

In this week's Fastest 4 Minutes in Finance, discover how robust earnings growth continues to drive the stock market's performance, defying fears over interest rates, inflation, and geopolitical instability. 

Do I need to max out catch-up contributions, or will I be okay holding steady with my normal contributions? On this week's Get Ready For The Future Show, we're answering YOUR questions! Would it be good for my savings to retire but keep working maybe part-time? Would I be ok in retirement if the only thing I do is max out my Roth IRA every year moving forward? I'm retired now and my wife will be next year. What’s the best withdrawal strategy for us?  And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 4/17/2024

Investing in stocks is a rollercoaster ride, and April's market turmoil serves as a timely reminder that pullbacks are inevitable. In this week's Fastest Four, Scott's drawing wisdom from market strategist Ryan Detrick as he explores the historical data that proves significant pullbacks are not only common but expected in an average year. 

I'm thinking about retiring next year, so what should I do before I leave work? On this week's Get Ready For The Future Show, we're answering YOUR questions!  When should I claim Social Security? As early as possible? What should I ask when meeting a financial advisor? And what should I watch out for? Is it a smart play to invest in Variable Universal Life? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 4/10/2024

Inflation data for March sparked alarming headlines, but is it really as bad as it seems? In this Fastest Four, learn why the 0.4% monthly increase and 3.5% annual inflation rate aren't drastically higher than expectations!

If I received a decent chunk of money, such as $25,000, what would be the most efficient way to invest? On this week's Get Ready For The Future Show, we're answering YOUR questions! What are your thoughts on gold IRAs? What should we do about taking care of a parent who's in retirement when we want to retire in our mid-50s? How should I invest extra cash I'm likely to use in the next 10 years? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 4/3/2024

In this week's Fastest Four Minutes in Finance, get ready to maximize your retirement savings with last-minute IRA contributions before the 2023 tax filing deadline on April 15th. Whether you're a high earner or have a spouse with earned income, Scott guides you through the strategies to supercharge your retirement savings while potentially reducing your tax burden.

Should I be worried about a housing crash in 2024? On this week's Get Ready For The Future Show, we're answering YOUR questions!  I inherited $350k in checking accounts - do I have to pay taxes on that? At 62 and $1 million in a 401(k), should I be converting that to a Roth IRA? Do I need to invest more if my government pension looks like it would meet my retirement needs? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]!   Originally aired 3/27/2024

In this episode of The Fastest Four, Scott discusses the futility of relying solely on economic predictions for investment decisions. He highlights how even amid dire predictions during the pandemic, the S&P 500 Index has delivered a remarkable 133.9% cumulative return since March 2020. Learn why keeping a cool head and sticking to your investment strategy can help you navigate market fluctuations and reach your financial objectives, regardless of predictions.

What should be our strategy so my husband and I can travel in retirement, live comfortably, and leave a good sum to kids and grandkids? On this week's Get Ready For The Future Show, we're answering YOUR questions! I know LTC (long-term care) coverage is expensive, but should I get it anyway? What's the difference between a fixed and variable annuity? What are the parameters for backdoor Roth contributions? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 3/20/2024 Disclosures: All investing involves risk including loss of principal. No strategy assures success or protects against loss. Diversification does not protect against market risk. Fixed and Variable annuities are suitable for long-term investing, such as retirement investing.  Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Guarantees are based on the claims paying ability of the issuing company. Withdrawals made prior to age 59 ½ are subject to a 10% IRS penalty tax and surrender charges may apply.  Variable annuities are subject to market risk and may lose value. Riders are additional guarantee options that are available to an annuity or life insurance contract holder. While some riders are part of an existing contract, many others may carry additional fees, charges and restrictions, and the policy holder should review their contract carefully before purchasing.  Guarantees are based on the claims paying ability of the issuing insurance company. Contributions to a Roth vehicle offer tax deferral on any earnings in that account. Qualified withdrawals of earnings from the account are tax-free. Withdrawals of earnings prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Limitations and restrictions may apply.

Is the US stock market more "top-heavy" than in a century? With the 10 largest stocks comprising 33% of the S&P 500's value, some analysts predict a major correction, though historical data suggests concentrated markets often lead to strong returns. Don't miss these expert insights on reading the top-heavy market signals, avoiding emotional investing mistakes, and staying on track toward financial independence through bull and bear markets. 

How could a part-time job or side gig impact my retirement plan? On this week's Get Ready For The Future Show, we're answering YOUR questions! When should I look at when claiming Social Security? How do I know if I'm saving enough? I thought I was okay, but what if there's another big market downturn? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]!   Originally aired 3/13/2024

In this week's Fastest Four, we explore the fascinating relationship between the stock market and presidential elections. Discover how the market typically performs during election years, whether the incumbent's party matters, and what the current market trends suggest about the upcoming Biden-Trump rematch. Learn valuable insights from historical data, including the impact of Super Tuesday results and how the market has reacted to each candidate's probability of winning. Don't miss this insightful analysis on navigating your investments during this pivotal election year. Stay informed and make data-driven decisions for your financial future. 

I'm 51 and have $750k with an advisor, but I don't really have a plan and I'm worried I don't have enough! On this week's Get Ready For The Future Show, we're answering YOUR questions!  I have NO idea where I stand when it comes to retirement. How do I get things in order and figure that out?  After inheriting nearly a million dollars in an IRA, do you have advice for taxes and getting it out in 10 years? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]!   Originally aired 3/6/2024

Are you concerned about the future of Social Security and whether it will be available for you in retirement? We've got insights on the "You Earned It, You Keep It Act" – a proposed legislation to eliminate federal taxes on Social Security benefits. 

I'm 54 and recently divorced. What should I be doing with my money? On the Get Ready For The Future Show, we're answering YOUR questions! My company switched to a Cash Balance plan. Should I invest less in bonds in accounts I control? Should we roll over large amounts into a Roth for the next 20 years? Does my wife, a full-time mom, also need life insurance? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 2/28/2024

A new survey reveals Americans know shockingly little about Social Security and their retirement income plans. 41% flunked a Social Security quiz, getting less than 55% correct. Only 20% say their plans account for inflation/market volatility. 63% think their retirement income will run out in 20 years or less. We're walking you through the key takeaways from the survey and how to right the ship in this week's Fastest Four Minutes in Finance.

My wife and I are looking to hire a financial advisor. Should we move around our investments first?  How do you know when it's time to switch from Roth contributions to pre-tax? I have $2 million in savings, but how do I know if it's enough to maintain my lifestyle in retirement? We're answering YOUR questions! And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 2/21/2024

Don't believe the recession hype! New data shows consumers are feeling more confident about their finances than they have in years. In this episode of Fastest 4 Minutes in Finance, Financial Advisor Scott Inman breaks down the latest University of Michigan Consumer Sentiment survey.

Should I pay an extra $500 on my student loans, a Roth, or split it? We're answering YOUR questions on the Get Ready for the Future Show! How can I help my father set up a retirement plan as a small business owner? My wife and I own a small business and are feeling pretty comfortable. What should we do next? Can I count my commercial building loan payment toward my retirement savings rate? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]!   Originally aired 2/14/2024 DISCLOSURE This is a hypothetical example and is not representative of any specific situation. Your results will vary. The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing.

In this week's Fastest Four, we break down the January inflation data that rattled stocks this week and caused a swing in the major indexes. See where the biggest inflows and outflows were last month among asset categories like bonds, large-cap, and small-cap funds. Get insights into investor behavior and how to position your portfolio to benefit from potential market leadership changes in 2024.

How should I deal with short-term savings? Should I max out my 401(k) in the first quarter or spread it out over the year? Does the bank own my mom's reverse mortgage after she died? What are the best retirement options for the self-employed? We're answering YOUR questions! And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 2/7/2024

Consumers have absorbed almost 3 years of high inflation, yet demand for luxury goods is still strong. What's driving consumer confidence and spending? We break down the data on sentiment, credit card debt, big-ticket purchases, spending on goods vs services, and what it means for the economy and your investments on this week's Fastest Four. 

I've got an old pension from a previous job. Should I move it to my current 401(k)? We're answering your questions! Should we try and fund our 3-month emergency fund up to 6 months, or max out our IRA contributions? What should our next steps be toward our "forever home?" Do millionaires really only have 3-6 months of expenses in cash? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]!   Originally aired 1/31/2024

Does political preference impact stock performance? History says NO! On this week's Fastest Four, we're looking at the data showing the stock market performs well overall during election years (regardless of who wins), average returns are positive 100% of the time when the incumbent president runs again, and more on why you should stay invested based on your financial goals, not politics.

How do I make my wife feel wealthy when she says I make her feel broke? How can I help my mom gift some stocks to her church? Should I just leave my old 401(k) plans at my old jobs? How do I repair my retirement savings after my divorce? We're answering YOUR questions! And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 1/24/2024 Disclosures: A Roth IRA offers tax deferral on any earnings in the account. Qualified withdrawals of earnings from the account are tax-free. Withdrawals of earnings prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Limitations and restrictions may apply.   Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.

The S&P 500 just hit a new all-time high for the first time in over 2 years! But history shows this could just be the beginning of a longer run. Data shows the index has averaged 14% gains 1 year after breaking long high droughts. We're breaking it all down on this week's episode of The Fastest Four Minutes In Finance. 

The weather outside was frightful! We couldn't make it to the studio this week, so we're here with an encore presentation of our show debunking Dave. Ramsey Solutions has done a lot of good for a lot of people searching for financial independence. And we agree with many of their philosophies! But recently, Dave gave some investment advice that was just plain wrong and you've got some questions about it! And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 1/3/2024

A new retirement account is here! Learn all about Pension-Linked Emergency Savings Accounts (PLESA) in this episode. We explain how the SECURE Act 2.0 created PLESAs in 401(k) and other employer retirement plans in 2024.

I've driven myself to distraction trying to understand my upcoming retirement! Is it okay for me to leave my 401(k) at my previous employer? How should I handle the money I recently inherited from my father? What do I need to know about converting pre-tax money to a Roth option? We're answering YOUR questions! And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 1/10/2024

The "Magnificent 7" stocks like Apple and Tesla soared in 2023, but data shows 75 other lesser-known stocks have strong growth potential in 2024. Learn why the broader market may outperform the big tech names this year. In this episode, we cover the stock market outlook for 2024, earnings growth forecasts, S&P 500 index performance data, and investment opportunities outside the common big tech stocks.

Ramsey Solutions has done a lot of good for a lot of people searching for financial independence. And we agree with many of their philosophies! But recently, Dave gave some investment advice that was just plain wrong and you've got some questions about it! And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to [email protected]! Originally aired 1/3/2024

With the Federal Reserve likely to cut interest rates in 2024, what does history show about how the stock market reacts to rate cuts? This week we take a look at stock market returns after the last 9 Fed rate cut cycles going back to 1970. On average the market is up slightly between the final rate hike and first cut, but returns have been mixed 6-12 months after cuts begin. So what does this mean for you? Find out in this week's episode of the Fastest Four Minutes in Finance!

We're rounding out the year with an encore of our most popular show of 2023. In this episode, you'll hear YOUR questions: How will I know if the market really has gone crazy? I'm a millionaire, so where do I go from here? Should I use my bonus on my employer plan or mortgage? What do you think about "Deferred Compensation Plans?" And if you would like a question answered on the show, give us a call at 501.381.5228. Or send us an email to [email protected]. Originally aired 9/6/2023

Ring in the new year by discovering the top 10 best places to retire in 2023 according to U.S. News and World Report. You may be surprised to learn that Pennsylvania dominates the rankings, with 7 cities making the cut. Find out why historic towns like Lancaster, Reading, Scranton, and more offer affordability, great healthcare, low taxes, and fun leisure activities. We countdown from 10 to 1 on this week's episode of the Fastest Four Minutes in Finance!

Should my HSA dollars be invested in high growth? How can I better understand my risk tolerance? If I'm retiring soon, what questions should I be asking my advisor? Invest more in pre-tax or Roth? We're answering YOUR questions on the Get Ready for the Future Show. And if you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or email your question to [email protected]! Originally aired 12/20/2023

The Dow Jones Industrial Average recently reached a new all-time high after a swift 15% two-month climb. Historical data shows the index tends to see positive returns 71% of the time over the following year after breaking records. With investors optimistic the Fed may cut rates in 2023 and a potential recession dodged, could this Santa Claus rally be just getting started? Tune in to hear analyses of the Dow's milestone, what market indicators may forecast, and whether analysts forecast the bull run continuing through 2024.

If I can buy my employer stock at a discount, should I max out my contribution? Saving 31% as an Army officer and planning to retire in 4 years - should I change anything? Are CDs a better option than brokerage for the next 6-12 months? Accumulated almost $900k and wondering if I'll be okay when my wife and I retire in 2-3 years?   These are YOUR questions! And if you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or email your question to [email protected]!   Originally aired 12/13/2023

The IRS retirement rules around Required Minimum Distributions (RMDs) are an absolute trainwreck. They changed the ages, the exceptions, and even the penalties. This week, we lean on the wisdom of retirement tax consultant Ed Slott so you don't accidentally skip an RMD and get slammed with a 25% penalty. We'll explain the new RMD ages, inherited IRA 10-year payout rules, and key exceptions you need to know. Even some advisors are confused, so whether you're retired already or have an inherited IRA, don't miss this. It could save you thousands in penalties down the road!

Does it change things, financially, if we just had a kid in our 40s? We're answering your questions on the Get Ready for the Future Show! Should my wife and I boost savings or contributions if we both have pensions? Help - contributions limits confuse me! What options do I have to prepare for health expenses? If you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or email your question to mailto:[email protected]! Originally aired 12/6/2023

Stocks rallied almost 9% in November - does that make a Santa Claus rally more or less likely? In this episode of the Fastest Four Minutes in Finance, we analyze the historical data on December and end-of-year stock market performance and break down the numbers and trends evaluating whether stocks could keep rising into 2023.

I'm 35 and still renting. Is that throwing away money, especially with interest rates being so high? My mom is 62 and I'm 32. How should I prepare if I need to take care of her? What's the difference between a money market account and a money market mutual fund? How do I talk with my husband about money when he hates discussions about finances? These are YOUR questions! And if you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or email your question to [email protected]! Originally aired 11/29/2023

Bonds are making a comeback! This week we're focusing on fixed-income investments and why the outlook is improving for bonds in 2023. With the Federal Reserve's rapid rate hikes over the past two years, bonds took a hit. But with rates potentially peaking, the outlook for fixed income is turning positive!